Document:

Exhibit 10.1

 

	 	DATED                                                                         2015	 

 

	 	FINDEL PLC	(1)
	 	TRILLIUM POND AG	(2)
	 	and	 
	 	CVSL INC	(3)

 

	 	
        SHARE PURCHASE AGREEMENT

        relating to the sale and purchase of the whole
        of the issued share capital of Kleeneze Limited
	 

 

    	 

    	 

    

 

CONTENTS

 

	1	DEFINITIONS AND INTERPRETATION	1
	 	 	 
	2	SALE AND PURCHASE	8
	 	 	 
	3	CONSIDERATION	8
	 	 	 
	4	Signing and Pre-Completion period	9
	 	 	 
	5	Termination	10
	 	 	 
	6	COMPLETION	11
	 	 	 
	7	POST-COMPLETION OBLIGATIONS	13
	 	 	 
	8	WARRANTIES	14
	 	 	 
	9	Indemnity	15
	 	 	 
	10	RESTRICTIVE COVENANTS	16
	 	 	 
	11	Retention	17
	 	 	 
	12	guarantee	18
	 	 	 
	13	CONFIDENTIALITY AND USE OF NAMES	19
	 	 	 
	14	TAX	19
	 	 	 
	15	ANNOUNCEMENTS	19
	 	 	 
	16	GENERAL	20
	 	 	 
	17	ASSIGNMENT	21
	 	 	 
	18	ENTIRE AGREEMENT	21
	 	 	 
	19	NOTICES	21
	 	 	 
	20	Process agent	22
	 	 	 
	21	COUNTERPARTS	22
	 	 	 
	22	GOVERNING LAW AND JURISDICTION	22
	 	 	 
	Schedule 1 Target	24
	 	 
	Schedule 2 Warranties	26
	 	 
	Schedule 3 Warranty Limitations	43
	 	 
	Schedule 4 TAX	47
	 	 
	Schedule 5 Pre-Completion Undertakings	70
	 	 
	Schedule 6 Adjustments to the Consideration	73
	 	 
	Schedule 7 Working Capital	80

 

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	DATE OF AGREEMENT	2015
	 	 
	PARTIES

 

	(1)	FINDEL PLC, a company incorporated in England (Company Number  00549034) whose registered office is at 2 Gregory Street, Hyde, Cheshire SK14 4TH (the "Seller")
	 	 
	(2)	TRILLIUM POND AG a company incorporated in Switzerland whose address is at c/o CVSL AG, Hertensteinstrasse 51 6004, Luzern (the "Buyer")
	 	 
	(3)	CVSL Inc, a company incorporated in the U.S.A (Key ID 103392095) whose office is at  2400 Dallas Patrkway Suite 230 Plano, TX 75093-4371 United States (the "Guarantor") 

 

INTRODUCTION

 

		A	The Seller is the legal and beneficial owner of the whole of the issued share capital of the Target.

 

		B	The Seller has agreed to sell the whole of the issued share capital of the Target to the Buyer
on the terms of this agreement.

 

		C	The Guarantor has agreed to guarantee the funding of the Consideration by the Buyer under this
agreement.

 

IT IS AGREED THAT:

 

		1	DEFINITIONS AND INTERPRETATION

 

		1.1	In this agreement the following words and expressions shall have the following meanings.

 

Actual
LTM EBITDA" means the amount, as determined or agreed as contemplated by this agreement, of EBITDA of the Target Group
for the year ending on 20 February 2015 calculated consistently with the illustration in paragraph 4
of Schedule 6.

 

"ASB" means
the Accounting Standards Board Limited, a company registered in England and Wales (registered number 2526824), or such other body
prescribed by the Secretary of State from time to time pursuant to the Companies Acts.

 

"Associate"
means any person, firm or company which is a connected person (as defined in section 1122 of CTA 2010) of the Seller, or which
is an associated company of the Seller within the meaning of section 449 of CTA 2010 (but as if in section 450 CTA 2010 there was
substituted for the words "the greater part" wherever they appear the words "20% or more") but excluding the
Target Group.

 

"Benchmark
LTM EBITDA" means the amount of £525,000
being the EBITDA of the Target Group for the year ended 26 December 2014 calculated as illustrated in paragraph 4
of Schedule 6.

 

"Business Day"
means any day (other than a Saturday, Sunday or a bank or public holiday in London or New York City, USA).

 

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"Buyer's Group"
means the Buyer, any subsidiary of the Buyer, any holding company of the Buyer and any subsidiary of any holding company of the
Buyer, from time to time.

 

"Buyer's Solicitors"
means Addleshaw Goddard LLP of 100 Barbirolli Square, Manchester, M2 3AB

 

"Companies Acts"
has the meaning set out in section 2 of the Companies Act 2006 and includes any enactment passed after the Companies Act 2006
which may, by reason of that or any other enactment, be cited together with the Companies Act 2006 as "the Companies Acts".

 

"Completion"
means completion of the sale and purchase of the Shares in accordance with clause 6.

 

"Completion
Date" means 46 days from the date of this agreement (or the next Business Day thereafter) or such earlier date as the
parties may agree

 

"Completion
Statement" means a document containing a statement of the Actual LTM EBITDA to be prepared
and agreed or determined pursuant to, and in accordance with, paragraphs 2
and 3 of Schedule 6.

 

"Condition"
means the approval of the terms of this agreement by the relevant approval body of the New York Stock Exchange in accordance
with requirements applicable to the Buyer.

 

"Confidential
Business Information" means all or any information of a secret or proprietary or confidential nature (however stored)
and not publicly known which is owned by the Target Group or which is used in or otherwise relates to the business, Customers or
financial or other affairs of the Target Group, including, without limitation, information relating to:

 

		(a)	the business methods, technical processes, corporate plans, management systems, finances, new business
opportunities or development projects of the Target Group; or

 

		(b)	the marketing or sales of any past or present or future products, goods or services of the Target
Group including, without limitation, Customer names and lists and other details of Customers, sales targets, sales statistics,
market share statistics, prices, market research reports and surveys and advertising and other promotional materials; or

 

		(c)	future projects, business development or planning, commercial relationships and negotiations; or

 

		(d)	any trade secrets or other information relating to the provision of any product or service of the
Target Group.

 

"Consideration"
means the amount set out in clause 3.

 

"CTA 2010" means
the Corporation Tax Act 2010.

 

"Customer" means
each of the multi-level direct marketing distributors of the Target Group.

 

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"CVSL Inc."
means a company incorporated in the U.S.A (Key ID 103392095) whose office is at 2400 Dallas Parkway, Suite 230, Plano, Texas, 75093

 

"CVSL Shares" means
shares of common stock in CVSL Inc.

 

"CVSL Share Excess Amount"
shall have the meaning set out in paragraph 1.3(a) of Schedule 6.

 

"CVSL Share Shortfall
Amount" shall have the meaning set out in clause 11.6(a).

 

"Debt Waiver" means
the deed of release in the agreed form from the Target to the Buyer releasing the Seller from liability to pay the Intra-group
Non-trading Balances.

 

"Deed of Release of Intra
Group Indebtedness" means the deed of release in the agreed form releasing all Intra Group Indebtedness.

 

"Disclosure Letter"
means the letter in the agreed form dated the same date as this agreement from the Seller to the Buyer relating to the Warranties
and the Tax Warranties and providing details of other matters specifically referred to in this agreement.

 

"Domain Names"
means the domain names listed in the Disclosure Letter.

 

"EC Treaty"
means the Treaty of Rome 1957 as amended.

 

"Environment"
means the natural and man-made environment including:

 

		(a)	land, including without limitation, surface land, sub-surface strata, sea bed and river bed under
water (as defined in paragraph (b)) and natural and man-made structures;

 

		(b)	water, including, without limitation, coastal and inland waters, surface waters, aquatic sediment,
ground waters, and water in drains and sewers;

 

		(c)	air, including, without limitation, air inside buildings and other natural and man-made structures
above or below ground; and

 

		(d)	any living systems or organisms supported by the media set out in (a), (b) or (c) above.

 

"Escrow Agent" means
the Seller's Solicitors.

 

"Escrow Agreement"
means the agreement in the agreed form to be entered
into on Completion between the Seller, the Buyer and the Escrow Agent setting out terms relating to the operation of the Retention
Account and the holding and distribution of the Retention Sum.

 

"ESH Law" means
all international, EU, national, state, federal, regional or local laws, common law, statutes, ordinances, directives, regulations,
decisions, notices, directions, standards, codes of practice, judgments, decrees or orders, the requirements and conditions of
all ESH Permits, agreements, circulars, guidance notes (statutory or otherwise), and judicial and administrative interpretations
of each of the foregoing concerning (without limitation) the protection of or harm to human health or the Environment or the conditions
of the work place and worker and process safety, or the generation, transportation, storage, treatment or disposal of any Hazardous
Substance, in each case as enacted, amended, replaced or supplemented from time to time.

 

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"ESH Permits"
means any permits, consents, licences, certificates, notices, filings, lodgements, agreements, directions, declarations, registrations,
notifications, exemptions, variations, renewals, permissions and amendments and other authorisations and approvals including any
conditions thereof required or provided under ESH Law for the operation of the Target's business or its occupation or use of the
Property.

 

"EU" means the
European Union.

 

"Final
Determination Date" means the date on which the Completion Statement is agreed or determined
in accordance with paragraph 2 of Schedule 6.

 

"GAAP" means
generally accepted accounting practices, principles and standards in compliance with all applicable laws in the United Kingdom
including without limitation the legal principles set out in the Companies Acts, rulings and abstracts of the ASB and guidelines,
conventions, rules and procedures of accounting practice in the United Kingdom which are regarded as permissible by the ASB.

 

"Hazardous Substance"
means any natural or artificial substance (whether in solid or liquid form or in the form of a gas or vapour) or organism (including
genetically modified organisms) whether alone or in combination with any other substance capable of causing harm or damage to the
Environment or human health or welfare or which restricts or makes more costly the use, development, ownership or occupation of
any property including but not limited to asbestos or any controlled, hazardous, toxic or dangerous chemical, substance or waste.

 

"Independent Legal
Expert" means an independent Counsel for at least 10 years' call with commercial expertise
nominated jointly by the Buyer and the Seller or, failing such nomination within 3 Business Days after a request by either the
Buyer or the Seller, such expert shall be nominated at the request of either the Buyer or the Seller by the Chairman for the time
being of the Bar Council of England and Wales.

 

"Intellectual Property"
means any patents, trade marks, service marks, registered designs, utility models, design rights, copyright (including copyright
in computer software), database rights, semi-conductor topography rights, inventions, trade secrets and other confidential information,
know-how, business or trade names (including internet domain names and e-mail address names) and all other intellectual and industrial
property and rights of a similar or corresponding nature in any part of the world, whether registered or not or capable of registration
or not and including the right to apply for and all applications for any of the foregoing rights and the right to sue for infringements
of any of the foregoing rights.

 

"Intra Group Guarantees"
means all securities, guarantees, indemnities, counter-indemnities, sureties and letters of comfort of any nature whatsoever given
by or binding upon the Target Group in respect of a debt, liability or obligation of the Seller and/or any of its Associates.

 

"Intra Group Indebtedness"
means all debts, liabilities (whether actual, contingent or prospective) or obligations subsisting or outstanding as at Completion
owed by the Target Group on the one hand to the Seller or to any of its Associates on the other hand but excluding normal trade
indebtedness arising in the ordinary course of business.

 

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"Intra-group Non-trading
Balances" means the intra-group non-trading balances of:

 

		(a)	in the region of £15,000,000; and

 

		(b)	£6,000,000;

 

owed by the
Seller to the Target.

 

"IP Licences"
means any licences, sub-licences, agreements, authorisations and permissions whether express or implied, relating to the use, enjoyment
and/or exploitation by:

 

		(a)	the Target Group of any Third Party Intellectual Property Rights; and

 

		(b)	any third party of any Target Intellectual Property Rights.

 

"Last Accounts"
means the audited balance sheet of each member of the Target Group as at the Last Accounts Date and the audited profit and loss
account of each member of the Target Group made up to the Last Accounts Date and (in each case) the auditor's and the directors'
reports and notes thereon.

 

"Last Accounts Date"
means 28 March 2014.

 

"London Stock Exchange"
means London Stock Exchange plc.

 

"Management Accounts"
means the unaudited balance sheet and profit and loss account of the Target Group for the 12 month period ended on the Management
Accounts Date attached to the Disclosure Letter.

 

"Management
Accounts Date" means 26 December 2014.

 

"Material Contract"
means any contract, arrangement or obligation to which the Target Group is a party and which has a monetary value of £10,000.00or
more.

 

"Pension Scheme"
means the Findel Group Personal Pension Scheme.

 

"Post Termination Provisions"
means clauses 15, 16, 17, 18, 19, 20, 21 and 22.

 

"Pre-completion Confirmation"
means an unqualified written confirmation from the Seller as at Completion that, to the best of the knowledge, information and
belief of the Seller, having made reasonable enquiries of Lisa Burke, Andrew Morgan, Michael Khatkar and Angela Hill there has
been no breach of the provisions of Schedule 6 (Pre-Completion Undertakings)

 

"Property" means
that part of the leasehold property known as Express House, Clayton Business Park, Clayton Le Moors, Accrington, Lancashire, BB5
5JY, which is occupied by the Target, brief details of which are set out in the Property Licence.

 

"Property Licence"
means the property licence in the agreed form to be entered into between (1) the Seller and (2) the Target immediately after Completion.

 

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"Registered Intellectual
Property Rights" means the registered Intellectual Property listed in the Disclosure Letter.

 

"Relevant CVSL Share
Price" means the average of the closing prices for CVSL Shares for each of the 10 trading days ending with the trading
day 2 Business Days preceding the date of issue of the relevant CVSL Shares pursuant to this agreement.

 

"Retention Account"
means the interest bearing deposit account to be opened prior to Completion in the name of the
Escrow Agent for the purposes of holding the Retention Sum on deposit in accordance with clause 11.

 

"Retention Sum"
means the sum of £500,000 to be paid by the Buyer into the Retention Account on Completion
in accordance with clause 3

 

"Security Interest"
means any mortgage, charge, assignment or assignation by way of security, guarantee, indemnity, debenture, hypothecation, pledge,
declaration of trust, lien, right of set off or combination of accounts or any encumbrance or security interest whatsoever, howsoever
created or arising and whether monetary or not.

 

"Seller's Group"
means the Seller, any subsidiary of the Seller, and any associated undertaking of any such person, from time to time, but excluding
the Target Group.

 

"Seller’s Solicitors"
means Squire Patton Boggs (UK) LLP of Trinity Court, 16 John Dalton Street, Manchester M60 8HS.

 

"Service Level Agreement"
means the service level agreement in the agreed form to be entered into
with effect from Completion between (1) Express Gifts Limited (company number 00718151) and (2) the Target.

 

"Shares" means
the 2,500,001 ordinary shares of £1 each in the capital of the Target.

 

"Systems" means
the computer, telecommunications and networking hardware and software and other information technology owned or used by the Target
Group.

 

"Subsidiary" means
Kleeneze (Ireland) Limited, brief details of which are set out in Part 2 of Schedule 1.

 

"Target" means
Kleeneze Limited, brief details of which are set out in Part 1 of Schedule 1.

 

"Target Group" means
the Target and the Subsidiary, and references to the Target Group refer to all or to any member of the Target Group.

 

"Target Intellectual
Property Rights" means all the Intellectual Property owned by the Target Group including, without limitation, the Intellectual
Property set out in the Disclosure Letter.

 

"Tax Covenant" has
the meaning given to it in Schedule 4.

 

"Tax Warranties"
has the meaning given to it in Schedule 4.

 

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"Third Party Intellectual
Property Rights" means all Intellectual Property used or exploited exclusively in or in connection with the Target Group
but not owned by the Target Group including, without limitation, all of the Intellectual Property listed in the Disclosure Letter.

 

"TSA" means
a transitional services agreement in the agreed form to be entered into between (1) the Seller and (2) the Target with effect from
Completion.

 

"UKLA" means
the Financial Services Authority acting in its capacity as the UK Listing Authority.

 

"Warranties"
means the warranties set out in Schedule 2.

 

"Working Capital"
means the Target’s current assets (excluding cash) minus the Target’s current liabilities and otherwise in accordance
with the agreed computations set out in Schedule 7.

 

		1.2	Unless the context otherwise requires, all words and expressions which are defined in the Companies
Acts shall have the same meanings in this agreement.

 

		1.3	Unless the context otherwise requires:

 

		(a)	words denoting the singular include the plural and vice versa;

 

		(b)	words denoting any gender include all other genders;

 

		(c)	any reference to "persons" includes individuals, bodies corporate, companies, partnerships,
unincorporated associations, firms, trusts and all other legal entities;

 

		(d)	all references to time are to London time;

 

		(e)	any reference to a party is to a party to this agreement.

 

		1.4	Clause headings are for convenience only and shall not affect the interpretation of this agreement.
Any reference to a clause, sub-clause, paragraph or schedule is to the relevant clause, sub-clause, paragraph or schedule of this
agreement.

 

		1.5	The schedules to this agreement shall for all purposes form part of this agreement.

 

		1.6	Any reference to a document being in the "agreed form" means a document in a form agreed
by the parties and initialled by, or on behalf of, each of them for the purposes of identification.

 

		1.7	Any phrase introduced by the terms "including", "include", "in particular"
or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms.

 

		1.8	References to any English statutory provision or English legal term for any action, remedy, method
of judicial proceeding, document, legal status, court, official or any other legal concept or thing shall, in respect of any body
corporate incorporated in any jurisdiction other than England, be deemed to refer to and include any equivalent or analogous action,
remedy, method of judicial proceeding, document, legal status, court, official or other legal concept or thing or what most nearly
approximates in that jurisdiction to the English statutory provision or English legal term.

 

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1.9           For
the purposes of this agreement, where any amount is required to be converted from one currency to another for the purposes of
calculating the number of CVSL Shares to be issued, the relevant exchange rate shall be daily spot rate for the Business Day prior
to the date of issue, as set out at www.bankofengland.co.uk.

 

		2	SALE AND PURCHASE

 

		2.1	Subject to the terms and conditions of this agreement, the Seller shall sell with full title guarantee
and the Buyer shall purchase the Shares with effect from Completion.

 

		2.2	The Seller covenants with the Buyer that:

 

		(a)	the Shares are fully paid (or credited as fully paid) and constitute the whole of the allotted
and issued share capital of the Target;

 

		(b)	the Seller is entitled to sell and transfer the full legal and beneficial ownership of the Shares
to the Buyer on the terms set out in this agreement without the consent of any third party; and

 

		(c)	the Shares will be sold and transferred to the Buyer free from all Security Interests and together
with all accrued benefits and rights attaching or accruing to the Shares, including all dividends declared on or after the Completion
Date

 

		2.3	On signing of this agreement:

 

		(a)	the Seller will provide to the Buyer as evidence of the authority of each person entering into
this agreement or any document to be entered into in connection with this agreement on behalf of the Seller, a certified copy of
a resolution of the board of directors (or a duly authorised committee) of the Seller and/or a power of authority conferring such
authority;

 

		(b)	the Buyer will provide to the Seller:

 

		(i)	as evidence of the authority of each person entering into this agreement or any document to be
entered into in connection with this agreement on behalf of the Buyer, a certified copy of a resolution of the board of directors
(or a duly authorised committee) of the Buyer and/or a power of authority conferring such authority;

 

		(ii)	a legal opinion in the agreed form from BDO AG.

 

		3	CONSIDERATION

 

		3.1	Subject always to clauses 3.2 and 3.3, the Consideration for the purchase of the Shares shall be
£3,618,534, subject to adjustment as set out in Schedule 6 of which:

 

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		(a)	£3,118,534 shall be paid to the Seller by the Buyer in cash on Completion ("Completion
Purchase Price"); and

 

		(b)	the Retention Sum shall be paid into the Retention Account by the Buyer on Completion whereupon
the provisions of clause 11 shall apply to such sum and such account;

 

save that in
no event shall the Consideration exceed £5,000,000.

 

		3.2	The parties agree to use reasonable endeavours to agree the Actual LTM EBITDA in accordance, mutatis
mutandis, with paragraphs 2,3 and 4 of Schedule 6, prior to the Completion Date and also what, if any, adjustments there should
be to the Consideration.

 

		3.3	If the parties agree the Actual LTM EBITDA and also what, if any, adjustments there should be to
the Consideration, in writing prior to Completion, at Completion the Buyer:

 

		(a)	in its sole discretion may elect to satisfy the Consideration by:

 

		(i)	issuing to the Seller, in lieu of cash, such number of CVSL Shares as is equal to the CVSL Share
Shortfall Amount (if applicable) divided by the Relevant CVSL Share Price; or

 

		(ii)	issuing to the Seller, in lieu of cash, such number of CVSL Shares as is equal to the CVSL Share
Excess Amount (if applicable) divided by the Relevant CVSL Share Price; and

 

		(b)	will pay the balance of the Consideration in cash;

 

and for the
avoidance of doubt no amount shall be paid into the Escrow Account, there shall be no Retention and the provisions of clause 11
and Schedule 6 shall not apply. If the parties do not agree the Actual LTM EBITDA by the Completion Date the parties will proceed
to Completion and clause 3.1 shall apply.

 

		4	Signing and Pre-Completion period

 

		4.1	Between the date of this agreement and Completion, the Seller will comply with the undertakings
in paragraphs 1 and 2 of schedule 6.

 

		4.2	Between the date of this agreement and Completion, the Buyer will use its best endeavours to ensure
that:

 

		(a)	the Condition is satisfied; and

 

		(b)	on the Completion Date it will be able to comply with its obligations under clause 6.8 including
(without limitation) having the financial means to pay the Consideration at Completion;

 

and will notify
the Seller as soon as reasonable practicable upon satisfaction.

 

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		5	Termination

 

		5.1	If the Buyer becomes aware that the Seller has materially breached any provision of Schedule 5
(Pre-Completion Undertakings) the Buyer may terminate this agreement before Completion by written notice to the Seller and clause
5.2 will apply. For the purposes of this clause 5.1 a material breach is one that would entitle the Buyer if it were to complete
the sale and purchase of the Target on the terms of this agreement, to bring a claim against the Seller pursuant to clause 4.1,
for breach of the undertakings contained in Schedule 6, and which, subject to clause 5.2, in the Buyer's reasonable opinion would
have a cumulative value of £361,853 (the "Termination Threshold" or more.

 

		5.2	If the Buyer serves a written notice under clause 5.1 to terminate this agreement, the Seller may
request that the Buyer obtain an opinion (the "Legal Opinion") from an Independent Legal Expert stating whether
the claim(s) alleged to give rise to the right to terminate is/are more likely to be successful than not successful and whether
the amount claimed by the Buyer is a reasonable estimate of the amount payable in respect of such claim/claims. Upon such opinion
being obtained by the Buyer (a copy of which shall as soon as reasonably practicable be provided to the Seller):

 

		(a)	if the Legal Opinion confirms that the claim(s) is/are more likely to be successful than not; and

 

		(i)	that the amount claimed by the Buyer is a reasonable estimate of the amount payable in respect
of such claim/claims; or

 

		(ii)	the amount claimed by the Buyer is not a reasonable estimate of the amount payable in respect of
such claim(s) but that a reasonable estimate would exceed the Termination Threshold

 

the Buyer may
terminate this agreement under clause 5.1 and the Seller will pay the costs of the Independent Legal Expert; or

 

(b)         if the
Legal Opinion confirms that the claim(s) is/are more likely to be unsuccessful than successful and/or that the amount claimed by
the Buyer is not a reasonable estimate of the amount payable in respect of such claim(s) and that a reasonable estimate would not
reach the Termination Threshold, the Buyer may not terminate this agreement under clause 5.1 and the Buyer will pay the costs of
the Independent Legal Expert.

 

The Independent
Legal Expert will be asked to provide the Legal Opinion as soon as reasonably practicable and both parties will provide all information
requested by the Independent Legal Expert as soon as reasonably practicable.

 

If the provisions
of this clause 5.2 are evoked, the Completion Date will be deemed to be deferred until 2 Business Days after delivery to the Seller
of the Legal Opinion.

 

		5.3	If:

 

		(a)	the Buyer terminates this agreement under clause 5.1;

 

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		(b)	the Buyer or the Seller terminates this agreement under any other provision of this agreement giving
the Buyer or the Seller (as the case may be) the right to terminate; or

 

		(c)	this agreement is terminated under clause 6.2

 

notwithstanding
any other provision of this agreement each party's rights and obligations under this agreement (including any rights and liabilities
of the parties which have arisen before termination) will cease immediately except that the Post-Termination Provisions will continue
in force.

 

		6	COMPLETION

 

		6.1	Subject to satisfaction of the Condition, Completion shall take place at the offices of the Seller's
Solicitors on the Completion Date when each of the events set out in clauses 6.3 to 6.6 shall occur.

 

		6.2	If the Condition is not satisfied on or before the Completion Date, this agreement shall terminate
and the provisions of clause 5.2 shall apply.

 

		6.3	At Completion, the Seller shall deliver to the Buyer:

 

		(a)	a duly completed and executed transfer of the Shares in favour of the Buyer or as it directs;

 

		(b)	the certificates for the Shares;

 

		(c)	duly completed and executed Service Level Agreement;

 

		(d)	duly completed and executed TSA;

 

		(e)	the duly executed Escrow Agreement;

 

		(f)	the Pre-Completion Confirmation duly executed by the Seller

 

		(g)	the resignations of Roger Siddle, Philip Maudsley and Timothy Kowalski as directors of the Target
Group and Mark Ashcroft as the secretary of the Target Group in the agreed form;

 

		(h)	evidence satisfactory to the Buyer that all charges, debentures and other Security Interests affecting
the Target Group (including without limitation all such Security Interests held by Barclays Bank plc) have been released and discharged
in full; and

 

		(i)	the Deed of Release of Intra Group Indebtedness duly executed by the Seller.

 

		6.4	At Completion, there shall be delivered or made available to and be placed in the possession of
the Buyer:

 

		(a)	the certificate of incorporation (and, where relevant, any certificate of incorporation on change
of name) of the Target Group;

 

		(b)	all minute books of the Target Group duly made up to Completion;

 

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		(c)	the register of members and other statutory registers of the Target Group duly made up to Completion;

 

		(d)	all books of accounts and documents of record and all other documents in the possession, custody
or control of the Seller in connection with the Target Group all complete and up to date;

 

		(e)	bank statements of all bank accounts of the Target Group as at a date not more than 1 Business
Day prior to Completion together with bank reconciliation statements in respect of each such account made up to Completion.

 

		6.5	At Completion, the Seller shall procure and demonstrate to the Buyer’s reasonable satisfaction
that all Intra Group Guarantees (if any) are cancelled with effect from Completion without liability on the part of the Target
Group.

 

		6.6	At Completion, a board meeting of the Target (and where necessary the Subsidiary) shall be duly
convened and held at which, with effect from Completion:

 

		(a)	the transfer referred to in clause 6.3(a) shall (subject to stamping) be approved and registered;

 

		(b)	such persons as the Buyer may nominate shall be appointed as directors and as the secretary of
the Target Group and the resignations referred to in clause 6.3(e) shall be submitted and accepted;

 

		(c)	all authorities to the bankers of the Target Group relating to bank accounts shall be revoked and
new authorities to such persons as the Buyer may nominate shall be given to operate the same;

 

		(d)	the Service Level Agreement shall be approved and entered into;

 

		(e)	the TSA shall be approved and entered into;

 

		(f)	the Intra-Group Non-Trading Balances shall be, to the extent not already, fully provided for as
an irrecoverable debt in the accounts of the Target;

 

		(g)	the registered office of the Target Group shall be changed to such address as the Buyer shall specify;
and

 

		(h)	the accounting reference date of the Target Group shall be changed to such date as the Buyer shall
specify.

 

		6.7	If the purchase of all the Shares cannot be completed simultaneously, or the Seller does not comply
with any of its obligations under clauses 6.3 to 6.6, the Buyer may by notice to the Seller:

 

		(a)	set a new date for Completion not more than 10 Business Days
after the Completion Date (in which case this clause 6 will apply to the deferred Completion);

 

		(b)	proceed to Completion so far as is practicable (without affecting the Buyer's rights in respect
of such non-compliance) and set a later date on which the Seller will comply with its respective outstanding obligations; or

 

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		(c)	terminate this agreement immediately, in which case clause will apply.

 

		6.8	Upon completion of all of the matters specified in clauses 6.3 to 6.6:

 

		(a)	the Buyer shall pay the Completion Purchase Price to Seller’s Solicitors in the manner agreed
upon by the parties;

 

		(b)	pay the Retention Sum into the Retention Account; and

 

		(c)	deliver to the Seller the duly executed Escrow Agreement.

 

		6.9	If following completion of all of the matters specified in clauses 6.2 to 6.5 the Buyer does not
comply with any of its obligations at Completion under clause 6.8, the Seller may by notice to the Buyer:

 

		(a)	set a new date for Completion not more than 10 Business Days after the Completion Date (in
which case this clause 6.9 will apply to the deferred Completion);

 

		(b)	proceed to Completion so far as is practicable (without affecting the Seller's rights in respect
of such non-compliance) and agree to a later date on which the Buyer will comply with its respective outstanding obligations; or

 

		(c)	terminate this agreement immediately, in which case clause 5.3 will apply.

 

		7	POST-COMPLETION OBLIGATIONS

 

		7.1	Immediately following Completion:

 

		(a)	the Buyer undertakes to procure that the Target (or a person duly authorised by the Target:

 

		(i)	executes and delivers to the Seller the Debt Waiver;

 

		(ii)	makes a statutory declaration as required under provision 17 of the Licence to Occupy in a form
complying with the requirements of Schedule 2 to the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 (the
"Statutory Declaration") and provides a copy of the sworn Statutory Declaration to the Seller and the Seller’s
Solicitors and shall send the original to the Seller’s Solicitors by secure post within 3 days of the date thereof;

 

		(iii)	executes and delivers to the Seller a copy of the Property Licence;

 

		(b)	following receipt of the Statutory Declaration, the Seller shall execute and deliver a copy of
the Property Licence.

 

		7.2	The Seller undertakes that, immediately following Completion until such time as the transfer of
the Shares has been registered in the register of members of the Target, the Seller will hold those Shares registered in his name
on trust for and as nominee for the Buyer or its nominees and undertakes to hold all dividends and distributions and exercise all
voting rights available in respect of the Shares in accordance with the directions of the Buyer or its nominees and if the Seller
is in breach of the undertakings contained in this clause the Seller irrevocably authorises the Buyer to appoint some person or
persons to execute all instruments or proxies (including consents to short notice) or other documents which the Buyer or its nominees
may reasonably require and which may be necessary to enable the Buyer or its nominees to attend and vote at general meetings of
the Target and to do any thing or things necessary to give effect to the rights contained in this clause 7.2.

 

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		7.3	Following Completion, the Buyer undertakes to the Seller to procure the release of the Seller and
each member of the Seller's Group from all securities, guarantees, indemnities, counter-indemnities, sureties and letters of comfort
of any nature whatsoever given by or binding upon the Seller or any member of the Seller's Group in respect of any debt, liability
or obligation of the Target Group and, pending such release, the Buyer shall indemnify and keep indemnified the Seller (for itself
and as trustee for each member of the Seller's Group) from and against all amounts paid by it to any third party pursuant to any
such securities, guarantees, indemnities, counter-indemnities, sureties or letters of comfort.

 

		7.4	The Seller agrees that all agency agreements (details of which are set out in the Disclosure Letter)
between the Target Group on the one hand and any member of the Seller's Group on the other hand shall be terminated (unless the
parties agree otherwise) with effect from Completion but without prejudice to the rights and liabilities of the parties to any
such agreement accruing or incurred prior to Completion.

 

		7.5	At any time after Completion, the Seller shall (and shall use its reasonable endeavours to procure
that any necessary third party shall) sign and execute all such documents and do all such acts and things (other than the payment
of stamp duty) as the Buyer may reasonably require for effectively vesting the Shares in the Buyer.

 

		7.6	The Seller shall for a period of 6 months following Completion provide all such information relating
to the Target Group, its business and affairs within its custody, possession or control as the Buyer shall reasonably request.

 

		7.7	The Buyer shall for a period of 6 months following Completion provide all such information relating
to the Target Group, its business and affairs within its custody, possession or control as the Seller shall reasonably request
for the purposes of preparing its audited accounts and fulfilling other legal or regulatory requirements.

 

		8	WARRANTIES

 

		8.1	The Seller warrants to the Buyer on the terms of the Warranties, subject only to:

 

		(a)	any matter fairly disclosed in the Disclosure Letter;

 

		(b)	the limitations and qualifications set out in this clause 8
and Schedule 3; and

 

		(c)	in relation to the Tax Warranties only, the limitations and qualifications set out in Part 4 of
Schedule 4.

 

		8.2	Each Warranty and Tax Warranty shall be construed as a separate and independent warranty and, except
where expressly stated, shall not be limited or restricted by reference to or inference from the terms of any other warranty or
any other provision of this agreement.

 

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		8.3	The rights and remedies of the Buyer in respect of any breach of the Warranties or the Tax Warranties
shall not be affected by completion of the purchase of the Shares, by any investigation made by or on behalf of the Buyer into
the affairs of the Target Group, by its rescinding or failure to rescind this agreement, by any failure to exercise or delay in
exercising any right or remedy or by any other event or matter whatsoever, except a specific and duly authorised written waiver
or release expressly referring to such breach.

 

		8.4	The Seller agrees to waive any claim or remedy or right which it may have in respect of any misrepresentation,
inaccuracy or omission in or from any information or advice supplied or given by the Target Group or a director, officer or employee
of the Target Group for the purpose of assisting the Seller in giving any warranty, representation, undertaking or covenant, in
preparing the Disclosure Letter and in entering into this agreement or any agreement or document entered into pursuant to this
agreement.

 

		8.5	If any Warranty or Tax Warranty is qualified by the expression "so far as the Seller is aware"
or "to the best of the knowledge, information and belief of the Seller" or words to such effect, such expression shall
mean that the actual knowledge of the board of directors of the Seller, having made reasonable enquiries into the subject matter
of that Warranty or Tax Warranty of Lisa Burke, Andrew Morgan, Michael Khatkar, and Angela Hill.

 

		8.6	Notwithstanding any other provisions of this agreement or any other
agreement or document entered into pursuant to this agreement, none of the limitations contained in this clause 8
and the Disclosure Letter nor any statutory limitation shall apply to:

 

		(a)	any claim relating to title to the Shares or capacity to enter into this agreement; or

 

		(b)	any claim for breach of the Warranties or the Tax Warranties or under the Tax Covenant where the
fact, matter or circumstance giving rise to the claim arises as a result of fraud, wilful concealment or deliberate non-disclosure
on the part of the Seller, the Target Group or any of their respective officers, employees or advisers.

 

		8.7	If any amount is paid by the Seller in respect of a breach of any
Warranty or Tax Warranty or otherwise pursuant to this clause 8, in addition to Buyer’s
remedies available at law or in equity, the amount of such payment shall be deemed to constitute a reduction in the consideration
payable under this agreement.

 

		8.8	In Schedule 2 any reference to the Target shall also be deemed to be a reference to the Subsidiary
and the Warranties shall apply accordingly.

 

		8.9	The Buyer confirms to the Seller that
as at the date of this agreement it has no actual knowledge of any fact which it is  actually aware
would entitle it immediately after Completion bring a claim against the Seller for breach of the Warranties.

 

		9	Indemnity

 

		9.1	Subject to clause 9.2, the Seller covenants to pay to the Buyer an amount equal (on an indemnity
basis) to all liabilities, costs, expenses, damages and losses (including but not limited to any interest, penalties reasonable
professional costs and expenses) suffered, incurred or paid by the Buyer, the Target or the Subsidiary or any member of the Buyer's
Group or any of their respective officers or employees arising out of or in connection with any third party claim or any legal
or regulatory action or investigation brought by any competent authority connected to, the release of the Seller by the Target
of the Intra-group Non-trading Balances.

 

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		9.2	For the avoidance of doubt, the waiver of the Intra-group Non-trading Balances pursuant to the
Debt Waiver shall not, in itself, be deemed to be a loss suffered by the Target for the purposes of clause 9.1.

 

		9.3	If any claim is made against the Buyer or any member of the Buyer's Group by any third party which
is likely to give rise to a claim by the Buyer against the Seller under clause 5.1 then the Buyer shall (at the Seller's cost);

 

		(a)	give notice of such claim to the Seller as soon as reasonably practicable after the Buyer becomes
aware of it;

 

		(b)	keep the Seller informed as to the progress of any such claim and shall procure that the Seller
is promptly sent copies of all relevant communications and other documents (written or otherwise) transmitted to any other party
to any proceedings or their agents or professional advisers (including, without limitation, pleadings and any opinion of Counsel
relating to any proceedings against any third parties);

 

		(c)	take, and shall procure that each member of the Buyer’s Group shall take, all reasonable
steps so as to recover or minimise or resolve such liability or dispute and; and

 

		(d)	upon request, comply with the reasonable requests of the Seller in relation to such claim

 

provided that
taking any such action would not in the Buyer's reasonable opinion be detrimental to the ongoing business of the Target or the
Subsidiary or any member of the Buyer's Group, or the reputation of Target, the Subsidiary or any member of the Buyer's Group and/or
any of their respective directors or officers.

 

		10	RESTRICTIVE COVENANTS

 

		10.1	The Seller covenants with the Buyer (for itself and as trustee for each member of the Buyer's Group)
that without the prior written consent of the Buyer, neither the Seller nor any of its Associates will either as principal or partner,
alone or jointly with, through or as manager, adviser, consultant or agent for any person or in any other capacity whatsoever:

 

		(a)	for a period of 2 years after the date of Completion directly or indirectly, carry on or be engaged,
concerned or interested in the business or industries of selling household, health and beauty products through a multi-level or
direct selling network of distributors in the United Kingdom and the Republic of Ireland in competition with the business of the
Target Group as carried on at Completion PROVIDED THAT nothing contained in this clause 10.1(a) shall preclude the Seller or any
member of the Seller's Group from:

 

		(i)	engaging or being interested in any business which is carried on by the Seller's Group (other than
the Target Group) at Completion;

 

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		(ii)	acquiring a business, an immaterial proportion of which carries on a business in competition with
the business of the Target Group;

 

		(iii)	being the registered holder or beneficial owner for investment purposes only of not more than 3%
of the equity share capital of any company listed on the Official List of the UKLA or the AIM market of the London Stock Exchange,
NYSE, NYSE MKT, NASDAQ; or

 

		(b)	for a period of 1 year after the date of Completion enter into any employment or business arrangement,
including consulting, distributing, or similar arrangements with any person who is, and was at or within 6 months from the date
of Completion, employed by, a consultant to or an independent contractor of the Target Group without the prior written consent
of the Buyer; or

 

		(c)	for a period of 2 years after the date of Completion, solicit or endeavour to solicit in competition
with the business of the Target (as carried on at the date of Completion) the custom of, or orders from, any person, firm or company
who has been a direct Customer of the Target at any time during the period of 12 months immediately preceding the date of Completion
save that nothing in this clause shall prevent the marketing of products to the general public or their own or commercially available
mailing lists.

 

		10.2	The restrictions contained in this clause 10 are considered to be reasonable by the Seller in all
respects but if any of those restrictions shall be held to be void in the circumstances where it would be valid if some part were
deleted, the parties agree that such restrictions shall apply with such deletion as may be necessary to make it valid and effective.

 

		10.3	The Seller shall procure that each member of the Seller's Group and each of their respective Associates
shall comply with the provisions of this clause as if each such person were a party covenanting with the Buyer.

 

		10.4	The Seller acknowledges that the Buyer is accepting the benefit of the covenants contained in this
clause 10 both on its own behalf and on behalf of each member of the Buyer's Group and the Target Group with the intention that
the Buyer may claim against the Seller on behalf of any such person for loss sustained by that person as a result of any breach
of any of the covenants contained in this clause.

 

		10.5	The provisions of clauses 10.1(a) to 10.1(c) are separate and severable and shall be enforceable
accordingly.

 

		11	Retention

 

		11.1	The monies standing to the credit of the Retention Account (including, without limitation, any
accrued interest) shall be dealt with only in accordance with the provision of this agreement and the Escrow Agreement.

 

		11.2	If there is any conflict between the provisions of this agreement and the provisions of the Escrow
Agreement the parties agree that as between themselves the provisions of this agreement shall prevail.

 

		11.3	The Buyer and the Seller shall ensure that all rights to the Retention Account remain free from
any Security Interest except as set out in this clause 11.

 

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		11.4	The Buyer and the Seller shall promptly give all necessary instructions and notifications to the
Escrow Agent and do all acts and things reasonably required to ensure that the Retention Account and the principal monies and interest
standing to its credit are administered in accordance with the provisions of this agreement and the Escrow Agreement and shall
procure that the Escrow Agent is not required to and does not take any action with respect to the Retention Account except on the
joint written instructions of the Buyer and the Seller.

 

		11.5	The interest accrued on the Retention Sum (or any part of it) whilst in the Retention Account shall
be credited to the Retention Account and, in relation to any payment made from the Retention Account pursuant to this agreement,
accrued interest shall follow the principal monies and shall be paid to the Seller or the Buyer (as the case may be) at the same
time as payment of the corresponding principal.

 

		11.6	On finalisation of the Completion Statement in accordance with Schedule 6, the Retention Sum
shall be paid out of the Retention Account to the Seller unless Actual LTM EBITDA is less than Benchmark LTM EBITDA (the difference
being the "EBITDA Shortfall") in which case the Buyer, in its sole discretion, may:

 

		(a)	elect to have paid to it from the Retention Account an amount equal to some or all (as the Buyer
shall determine) of the amount of the EBITDA Shortfall, multiplied by 5 ("CVSL Share Shortfall Amount"): and

 

		(b)	issue to the Seller such number of CVSL Shares as is equal to the CVSL Share Shortfall Amount divided
by the Relevant CVSL Share Price on or before the fifth Business Day after the Final Determination Date.

 

		11.7	The Seller and the Buyer shall within 5 Business Days commencing on the Final Determination Date
jointly instruct the Escrow Agent to release the monies standing to the credit of the Retention to the Seller and/or the Buyer
(as the case may be) in accordance with the provisions of clause 11.6. Any payment made shall be made by electronic funds transfer
in favour of the Buyer (in the case of a payment to the Buyer) or the Seller's Solicitors (in the case of a payment to the Seller)
whose receipt shall be a complete discharge of the obligation to pay the amount so paid.

 

		12	guarantee

 

		12.1	In consideration of the Seller entering into this agreement, the Guarantor (as primary obligor
and not merely as a surety) unconditionally and irrevocably guarantees as a continuing obligation the proper and punctual performance
of the Buyer of its obligation to pay the Consideration.

 

		12.2	The Guarantor’s liability under this guarantee shall not be affected, discharged, modified
or impaired by:

 

		(a)	any amendment to or variation of this agreement or any agreement or document entered into pursuant
to this agreement;

 

		(b)	any release, waiver or time or other indulgence granted to the Buyer or any third party;

 

		(c)	any insolvency, liquidation, administration, receivership or winding-up or dissolution of the Buyer;

 

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		(d)	any act, omission, event or circumstance which causes any of the obligations of the Buyer to be
or become void, voidable, invalid or unenforceable for any reason;

 

		(e)	any change of control or sale of the Buyer; or

 

		(f)	any other act or omission or any other event or circumstance (whether or not known to the Seller)
which would or might (but for this clause 12) operate to impair or discharge the Guarantor’s liability under this guarantee.

 

		12.3	The Guarantor shall make any payments due from it under this guarantee
in full, without any deduction or withholding in respect of any claim (whether by way of set-off, counterclaim or otherwise) asserted
from time to time by the Buyer against the Seller under or pursuant to clause 3 and Schedule
6 of this agreement, except as required by law.

 

		12.4	The Seller may claim under this guarantee without making any claim
or taking any proceedings against the Buyer or taking any action to claim under or enforce any other right or security or other
guarantee which it may hold from time to time in respect of the obligations of the Buyer under clause 3
and Schedule 6 of this agreement.

 

		12.5	This guarantee shall remain in force and effect until the Buyer has
performed, observed and discharged all of its obligations under or pursuant to clause 3 and
Schedule 6 of this agreement.

 

		13	CONFIDENTIALITY AND USE OF NAMES

 

The Seller
shall not at any time after the date of Completion use or disclose or permit there to be disclosed any Confidential Business Information
which it has or acquires PROVIDED THAT this clause shall not apply if and to the extent that:

 

		(a)	such Confidential Business Information has come into the public domain (other than as a result
of breach of any obligation of confidence by the Seller or any of its Associates); or

 

		(b)	any disclosure of such Confidential Business Information that is authorised in writing by the Buyer;
or

 

		(c)	disclosure of the Confidential Business Information concerned is required by law or by any regulatory
body or the London Stock Exchange.

 

		14	TAX

 

The parties
agree that the provisions of Schedule 4 shall have effect.

 

		15	ANNOUNCEMENTS

 

		15.1	A party may make or authorise an announcement if:

 

		(a)	the announcement is required by law or the UKLA or the London Stock Exchange or the New York Stock
Exchange or any securities exchange or court process or regulatory or governmental body (whether or not such requirement has the
force of law);

 

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		(b)	that party has consulted with and taken into account the reasonable requirements of the other party;
and

 

		(c)	that party has used reasonable endeavours to obtain confidentiality undertakings from any relevant
securities exchange or regulatory or governmental body.

 

		15.2	The parties authorise the release of the press announcement in the agreed form at start of business
of the day after Completion to the London Stock Exchange, the UKLA, the New York Stock Exchange and to such other persons as the
parties may agree.

 

		15.3	Unless required by law and subject to clause 15.2, for a period of 1 month after the date of Completion
the parties shall not make or authorise any public announcement concerning the terms of or any matters contemplated by or ancillary
to this agreement without the prior written consent of the other party. Such consent, shall not be unreasonably withheld or delayed.

 

		16	GENERAL

 

		16.1	Except where this agreement provides otherwise, each party shall pay its own costs relating to
or in connection with the negotiation, preparation, execution and performance by it of this agreement and of each agreement or
document entered into pursuant to this agreement and the transactions contemplated by this agreement (including the due diligence
exercise conducted prior to Completion). No such costs incurred by or on behalf of the Seller shall be charged to the Target Group.

 

		16.2	No variation of this agreement or any agreement or document entered into pursuant to this agreement
shall be valid unless it is in writing and signed by or on behalf of each of the parties.

 

		16.3	No delay, indulgence or omission in exercising any right, power or remedy provided by this agreement
or by law shall operate to impair or be construed as a waiver of such right, power or remedy or of any other right, power or remedy.

 

		16.4	No single or partial exercise or non-exercise of any right, power or remedy provided by this agreement
or by law shall preclude any other or further exercise of such right, power or remedy or of any other right, power or remedy.

 

		16.5	The provisions of this agreement insofar as they have not been performed at Completion shall remain
in full force and effect notwithstanding Completion.

 

		16.6	This agreement and each of the agreements and documents executed pursuant to this agreement shall
be binding upon and enure for the benefit of the successors in title of the parties.

 

		16.7	If any provision of this agreement is or becomes illegal, invalid or unenforceable under the law
of any jurisdiction, that shall not affect or impair:

 

		(a)	the legality, validity or enforceability in that jurisdiction of any other provision of this agreement;
or

 

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		(b)	the legality, validity or enforceability under the law of any other jurisdiction of that or any
other provision of this agreement.

 

		16.8	No person who is not a party to this agreement shall have any right to enforce this agreement or
any agreement or document entered into pursuant to this agreement pursuant to the Contracts (Rights of Third Parties) Act 1999.

 

		17	ASSIGNMENT

 

No party may
assign, transfer, charge, make the subject of a trust or deal in any other manner with any of its rights under it or purport to
do any of the same nor sub-contract any or all of its obligations under this agreement without the prior written consent of the
other party. Such consent shall not to be unreasonably withheld or delayed.

 

		18	ENTIRE AGREEMENT

 

		18.1	This agreement (including the transaction documents and the exhibits, schedules and annexes hereto
and thereto) constitute the entire agreement between the parties and supersedes any previous agreement or arrangement between the
parties relating to the acquisition of the Shares.

 

		18.2	Each of the Parties agrees that it has not entered into this agreement or any agreement or document
entered into pursuant to this agreement in reliance upon any representation, statement, covenant, warranty, agreement or undertaking
of any nature whatsoever made or given by or on behalf of the other Party except as expressly set out in this agreement or any
agreement or document entered into pursuant to this agreement. The Parties waive any claim or remedy or right in respect of any
representation, statement, covenant, warranty, agreement or undertaking of any nature whatsoever that they may have against each
other unless and to the extent that a claim lies for damages for breach of this agreement or any agreement or document entered
into pursuant to this agreement. Nothing in this clause shall exclude any liability on the part of the Parties for fraud or fraudulent
misrepresentation.

 

		19	NOTICES

 

		19.1	Any notice or other communication given under this agreement shall be in writing and signed by
or on behalf of the party giving it and shall be served by delivering it by hand or sending it by pre-paid recorded delivery or
registered post (or registered airmail in the case of an address for service outside the United Kingdom) or by fax to the party
due to receive it, at its address or fax number set out in this agreement or to such other address or fax number as are last notified
in writing to the party.

 

		19.2	Subject to clause 19.3, in the absence of evidence of earlier receipt, any notice or other communication
given pursuant to this clause shall be deemed to have been received:

 

		(a)	if delivered by hand, at the time of actual delivery to the address referred to in clause 19.1;

 

		(b)	in the case of pre-paid recorded delivery or registered post, two Business Days after the date
of posting;

 

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		(c)	in the case of registered airmail, five Business Days after the date of posting; and

 

		(d)	if sent by fax, at the time of completion of transmission.

 

		19.3	If deemed receipt under clause 19.2 occurs before 9.00 am on a Business Day, the notice shall be
deemed to have been received at 9.00 am on that day. If deemed receipt occurs on any day which is not a Business Day or after 5.00
pm on a Business Day the notice shall be deemed to have been received at 9.00 am on the next Business Day.

 

		19.4	Any notice sent to the Buyer
                                         shall be copied to the Guarantor (                                                                                ).

 

		19.5	For the avoidance of doubt, notice given under this agreement shall not be validly served if sent
by e-mail.

 

		20	Process agent

 

		20.1	The Buyer and the Guarantor each:

 

		(a)	irrevocably appoint                                                          ,
                                         and any successor in business, of East Orchard Building, Eastcourt Farm, Malmesbury,
                                         Wilstshire, SN16 9RZT ("Process Agent") as its agent to accept service
                                         of process in the United Kingdom in relation to any document initiating or otherwise
                                         connected with any court proceedings arising out of or in connection with this agreement;

 

		(b)	agrees to notify the Seller in writing of any change of address of such Process Agent within 10
Business Days of the change of address; and

 

		(c)	if such Process Agent ceases to be able to act under this clause 17 or ceases to have an address
in England and Wales, irrevocably agrees to appoint a replacement process agent ("New Process Agent") reasonably
acceptable to the Seller and after such appointment reference to the Process Agent in this clause will be read as reference to
the New Process Agent and to give to the Buyer notice of such appointment within 10 Business Days.

 

		20.2	Without affecting the effectiveness of service under any other method set out in clause 19 service
of such process upon the Process Agent (with a copy sent to the Buyer and the Guarantor) at its address given in clause this
clause 19 or elsewhere within the jurisdiction of the courts of England and Wales for the time being in force will constitute good
service on the Buyer and/or the Guarantor (as applicable).

 

		21	COUNTERPARTS

 

This agreement may be executed
in any number of counterparts and by the different parties on separate counterparts (which may be facsimile copies), but shall
not take effect until each party has executed at least one counterpart. Each counterpart shall constitute an original but all the
counterparts together shall constitute a single agreement.

 

		22	GOVERNING LAW AND JURISDICTION

 

		22.1	This agreement shall be governed by and construed in accordance with English law.

 

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		22.2	Each party irrevocably agrees to submit to the exclusive jurisdiction of the courts of England
in relation to any claim or matter arising under or in connection with this agreement (or any agreement or document entered into
pursuant to this agreement).

 

IN WITNESS of which this document
has been executed by the parties as a deed on the date set out above.

 

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Schedule
1

Target

 

Part 1 – Details of the Target

 

	Registered Number:	05801085
	 	 
	Type of Company:	Private company limited by shares
	 	 
	Date of incorporation:	29/04/2006 
	 	 
	Country of incorporation:	England and Wales
	 	 
	Authorised Share Capital:	£2,500,001 divided into 2,500,001 Ordinary Shares of £1 each
	 	 
	Issued Share Capital:	2,500,001 Ordinary Shares of £1 each
	 	 
	Registered Office:	2 Gregory Street, Hyde, Cheshire SK14 4TH
	 	 
	Directors:	
        Roger William John Siddle

        Philip Binns Maudsley

        Timothy John Kowalski

	 	 
	Secretary:	Mark Ashcroft
	 	 
	Accounting Reference Date:	31/03
	 	 
	Auditors:	KPMG LLP
	 	 
	Charges:	
        An English law debenture dated 24 July
        2009 between, amongst others, Target, Subsidiary and Barclays Bank Plc and the confirmatory security agreement dated 21 January
        2015 between the same.

         

        An Irish law debenture dated 24 July 2009
        between, amongst others, Target, Subsidiary and Barclays Bank Plc.

         

        An Irish share charge dated 24 July 2009
        between Target and Barclays Bank in relation the shares in Subsidiary.

 

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Part 2 – Details of the Subsidiary

 

	Registered Number:	215390
	 	 
	Type of Company:	Private company limited by shares
	 	 
	Date of incorporation:	30/03/1994 
	 	 
	Country of incorporation:	Ireland
	 	 
	Authorised Share Capital:	€125,000 divided into 100,000 Ordinary Shares of €1.25 each
	 	 
	Issued Share Capital:	2 Ordinary Shares of €1.25 each
	 	 
	Registered Office:	c/o KPMG, Dockgate, Dock Road, Galway
	 	 
	Directors:	
        Roger William John Siddle

        Philip Binns Maudsley

        Timothy John Kowalski

	 	 
	Secretary:	Mark Ashcroft
	 	 
	Accounting Reference Date:	31/03
	 	 
	Auditors:	KPMG LLP
	 	 
	Charges:	
        A Charge of Shares dated 24/07/2009 granted
        by the Target in favour of Barclays Bank Plc acting in its capacity as security trustees for the secured creditors.

        A Debenture dated 24/07/2009 granted by
        the Target in favour of Barclays Bank Plc as agent and security trustee for the secured creditors.

         

        A Security Agreement dated 24/07/2009 granted
        by the Target in favour of Barclays Bank Plc acting as agent and security trustee for the secured creditors.

 

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Schedule
2

Warranties

 

		1	Corporate matters

 

		1.1	Authority and Capacity

 

		(a)	The Seller has full power and authority to enter into and perform this agreement and any agreement
or document to be entered into by the Seller pursuant to this agreement which constitute, or when executed will constitute, valid
and binding obligations on the Seller which are enforceable in accordance with their respective terms.

 

		(b)	The Seller has taken all corporate and other action necessary to enable it to enter into and perform
this agreement and any agreement or document to be entered into pursuant to this agreement and has obtained all approvals and consents
(including any governmental, third-party or other consents) required by it for the performance by it of the transactions contemplated
by this agreement and any agreement or document to be entered into pursuant to this agreement.

 

		(c)	The execution and delivery of, and the performance by the Seller of its obligations under, this
agreement and any agreement or document entered into pursuant to this agreement will not:

 

		(i)	result in a breach of any provision of the Memorandum or Articles of Association of such Seller;
or

 

		(ii)	result in a breach of any order, judgment or decree of any court or governmental agency or Security
Interest to which the Seller is a party or by which the Seller or any of its assets is bound.

 

		1.2	Title to the Shares

 

		(a)	The Seller is the only legal and beneficial owners of the Shares.

 

		(b)	The Shares have been validly allotted and issued, are fully paid or are properly credited as fully
paid.

 

		(c)	There is no Security Interest on, over or affecting any of the Shares and there is no agreement
or arrangement to give or create any such Security Interest. No claim has been or will be made by any person to be entitled to
any such Security Interest.

 

		(d)	The Target has not created or granted or agreed to create or grant any Security Interest in respect
of any of its uncalled share capital.

 

		(e)	Except as required by this agreement, there are no agreements or arrangements in force which provide
for the present or future allotment, issue, transfer, redemption or repayment of, or grant to any person of the right (whether
conditional or otherwise) to require the allotment, issue, transfer, redemption or repayment of, any share or loan capital of the
Target (including any option or right of pre-emption or conversion).

 

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		1.3	Changes in share capital

 

Since the Management Accounts
Date:

 

		(a)	no share or loan capital has been issued or allotted, or agreed to be issued or allotted, by the
Target; and

 

		(b)	the Target has not redeemed or purchased or agreed to redeem or purchase any of its share capital.

 

		1.4	Subsidiaries and other interests

 

The Target
does not own or have any interest of any nature whatsoever in any shares, debentures or other securities of any body corporate,
whether incorporated in any part of the United Kingdom or elsewhere.

 

		1.5	Directors

 

		(a)	The only directors of the Target are the persons whose names are so listed in relation to the Target
in Schedule 1.

 

		(b)	No person is a shadow director of the Target within the meaning of the section 251 of the Companies
Act 2006.

 

		(c)	No director is now or has at any time within the last 6 years been subject to any disqualification
order under the Companies Acts, the Insolvency Act 1986 or the Company Directors Disqualification Act 1986.

 

		1.6	Corporate compliance

 

		(a)	The Target has at all times carried on business and conducted its affairs in all material respects
in accordance with its Memorandum and Articles of Association for the time being in force and any other documents to which it is
or has been a party.

 

		(b)	The Target is empowered and duly qualified to carry on business in all jurisdictions in which it
now carries on business.

 

		(c)	Due compliance has been made with all the provisions of the Companies Acts and other legal requirements
in connection with the formation of the Target, the allotment or issue of any of its shares, debentures and other securities and
the payment of dividends.

 

		1.7	Documents filed

 

		(a)	All returns, particulars, resolutions and documents required by the Companies Acts or any other
legislation to be filed with the Registrar of Companies in England and Wales, or any other authority, in respect of the Target
have been duly filed and were true, accurate and correct.

 

		(b)	All mortgages and charges in favour of the Target have (where necessary in order to secure their
enforceability) been duly registered in accordance with the Companies Acts.

 

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		1.8	Accuracy of Information

 

The information
contained in Schedule 1 is true, accurate and complete.

 

		1.9	Commissions

 

No one is entitled to receive
from the Target any finder's fee, brokerage or other commission in connection with the sale and purchase of the Shares under this
agreement.

 

		2	ACCOUNTS

 

		2.1	The Last Accounts 

 

		(a)	The Last Accounts were prepared in accordance with the historical cost convention. The bases and
policies of accounting adopted for the purposes of preparing the Last Accounts are the same as those adopted in preparing the audited
accounts of the Target in respect of the last 3 preceding accounting periods.

 

		(b)	The Last Accounts:

 

		(i)	give a true and fair view of the assets and liabilities and state of affairs of the Target, as
the case may be, as at the Last Accounts Date and of its profits or losses for the financial period ended on that date;

 

		(ii)	comply with all applicable requirements of the Companies Acts and other relevant statutes and regulations;
and

 

		(iii)	have been prepared in accordance with GAAP as applicable to a United Kingdom company as at the
Last Accounts Date.

 

		2.2	Valuation of stock

 

In the Last Accounts:

 

		(a)	all stock was valued in the same way as in the audited accounts of the Target for the 2 preceding
financial years and on the basis of the lower of cost or net realisable value;

 

		(b)	all redundant and obsolete stock has been fully provided for or written off and all slow-moving
and damaged stock has been adequately provided for.

 

		2.3	Depreciation of fixed assets

 

The rates of depreciation and
amortisation shown in the audited accounts of the Target for the 3 financial years ended on the Last Accounts Date were sufficient
to ensure that each fixed asset of the Target will be written down to nil by the end of its useful life.

 

		2.4	Management Accounts

 

		(a)	The Management Accounts have been prepared in accordance with accounting policies consistent with
those used in preparing the Last Accounts.

 

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		(b)	Having regard to the purpose for which the Management Accounts were prepared, the Management Accounts
are not misleading in any material respect and neither materially overstate the value of the assets nor materially understate the
liabilities of the Target as at the Management Accounts Date and do not materially overstate the profits of the Target for the
period to which they relate.

 

		2.5	Books and Records

 

		(a)	All the accounts, books, ledgers, financial and other records, of whatsoever kind, of the Target
are in its possession or under its control, are up-to-date and have been maintained in accordance with all applicable laws and
GAAP on a proper and consistent basis and comprise complete and accurate records of all information required to be recorded therein.

 

		(b)	All the accounting records and systems (including, without limitation, computerised accounting
systems) of the Target are recorded, stored, maintained or operated or otherwise held by the Target and are not wholly or partly
dependent on any other facilities or systems beyond the exclusive ownership or control of the Target.

 

		(c)	The register of members and other statutory books of the Target are in its possession or under
its control, are up-to-date and have been maintained in accordance with applicable laws and comprise a complete and accurate record
of all information required to be recorded therein. The Target has not received any written notice that any information contained
in any of the statutory books is incorrect or should be rectified.

 

		2.6	Accounting Reference Date

 

The accounting reference date
of the Target for the purposes of the Companies Acts has always been the date specified in Schedule 1.

 

		3	FINANCE

 

		3.1	Capital Commitments

 

		(a)	As at the Management Accounts Date, the Target had no outstanding capital commitments in excess
of £30,000 except as disclosed in the Last Accounts.

 

		(b)	Since the Management Accounts Date, the Target has not made or agreed to make any capital expenditure
or incurred or agreed to incur any capital commitments, nor has it disposed of or realised any capital assets or any interest therein,
in each case in excess of £30,000.

 

		3.2	Dividends and distributions

 

Since the Management
Account Date, no dividend or other distribution (as defined in CTA 2010) has been or is treated as having been declared, made or
paid by the Target.

 

		3.3	Debtors

 

There are no
debts owing to the Target other than trade debts incurred in the ordinary and normal course of business. Such debts do not exceed
£25,000.00 in aggregate.

 

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		3.4	Liabilities

 

		(a)	So far as the Seller is aware there are no liabilities (including contingent liabilities) which
are outstanding on the part of the Target other than those liabilities disclosed in the Management Accounts or those which have
been incurred in the ordinary and proper course of trading since the Management Accounts Date. Further, the Seller is not aware
of any facts that are reasonably likely lead to a liability whether contingent or otherwise other than as disclosed.

 

		(b)	The Target has not at any time been the tenant of, or a guarantor in respect of, any leasehold
property other than the Property.

 

		3.5	Trade Creditors

 

Trade debts incurred by the Target
in the ordinary course of business since the Management Accounts Date do not exceed £100,000 in aggregate.

 

		3.6	Bank and other borrowings

 

		(a)	The Target has no outstanding loan capital, nor has it agreed to create or issue any such loan
capital.

 

		(b)	The Target has not factored any of its debts, or engaged in financing of a type beyond those shown
or reflected in the Management Accounts.

 

		(c)	The Target has not received notice (whether formal or informal) from any lenders of money to it,
requiring repayment or intimating the enforcement of any security the lender may hold over any of its assets and there are no circumstances
which could give rise to any such notice.

 

		4	TRADING

 

		4.1	Changes since Last Accounts Date

 

Since the Management Accounts
Date:

 

		(a)	the business of the Target has been carried on in the ordinary and normal course so as to maintain
the same as a going concern, and there has not occurred any change or event that has had or is reasonably likely to have a material
adverse effect; or

 

		(b)	no resolution of the members of the Target has been passed, whether in general meeting or otherwise
(other than any resolutions relating to the routine business of an annual general meeting);

 

		(c)	the Target has not entered into any Material Contract with a value in excess of £25,000.00
outside the ordinary and normal course of business; and

 

		(d)	the Target has not assumed or incurred any material liability (including any contingent liability)
which is not provided for in the Last Accounts otherwise than in the ordinary and normal course of business.

 

    	30

    	 

    

 

		4.2	Effect of Sale of the Shares

 

Compliance with the terms of
this agreement does not and will not:

 

		(a)	conflict with, or result in the breach of, or constitute a default under, any of the terms, conditions
or provisions of any agreement, arrangement or instrument to which the Target is a party or any provision of its Memorandum or
Articles of Association or any Security Interest, lease, contract, order, judgment, award, injunction, regulation or other restriction
or obligation of any kind or character by which or to which any asset of the Target is bound or subject; or

 

		(b)	result in the creation, imposition, crystallisation or the enforcement of any Security Interest
on or over any of the assets, property or undertaking of the Target or result in any present or future indebtedness of the Target
becoming due and payable prior to its stated maturity.

 

		4.3	Material Contracts

 

The Target
is not a party to any Material Contract which:

 

		(a)	is of an unusual or abnormal nature or outside the ordinary and normal course of business; or

 

		(b)	is for a fixed term of more than 12 months; or

 

		(c)	is of a long-term nature (that is, unlikely to have been fully performed in accordance with its
terms more than 12 months after the date on which it was entered into or undertaken); or

 

		(d)	is not of an entirely arm's length nature; or

 

		(e)	involves payment by it of amounts determined by reference to fluctuations in the rate of exchange
for any currency; or

 

		(f)	involves or is likely to involve the supply of goods, the aggregate sales value of which would
represent in excess of 5% of its turnover for the preceding financial year; or

 

		(g)	is a restrictive trading or other agreement or arrangement pursuant to which any part of its business
is carried on or which in any way restricts its freedom 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

 

		(h)	provided for the sale, transfer or disposal by the Target of any body corporate or business or
assets in circumstances such that the Target remains subject to any liability (whether contingent or otherwise) which is not fully
provided for in the Last Accounts.

 

		4.4	Agency Agreements 

 

There is not
now outstanding any agreement or arrangement allowing any third party to act or trade as agent of the Target.

 

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		4.5	Outstanding Offers

 

No offer,
tender, bid or proposal is outstanding which, if accepted, would result in the Target becoming a party to a Material Contract.

 

		4.6	Powers of attorney and authority

 

		(a)	No power of attorney given by the Target is in force.

 

		(b)	There are not outstanding any authorities (express or implied) by which any person (other than
a director of the Target) may enter into any contract or commitment to do anything on behalf of the Target.

 

		4.7	Guarantees and indemnities

 

The Target
has not entered into any guarantee or agreement for indemnity or for suretyship in respect of any debt, liability or obligation
of any third party.

 

		4.8	Insider contracts and arrangements

 

		(a)	There is not now outstanding any debt, liability or obligation of the Target to the Seller other
than normal trade indebtedness arising in the ordinary course of business.

 

		(b)	So far as the Seller is aware, there are no agreements, arrangements or understandings (whether
legally enforceable or not) between the Target and/or the Seller or any person who is a former shareholder of the Target or the
beneficial owner of any interest in the Target or any Associate of any such person relating to the management of the Target's business,
or the appointment or removal of directors of the Target, or the ownership or transfer of ownership of any shares or other securities
in the Target or the letting of any of the assets of the Target, or the provision, supply or purchase of finance, goods, services
or other facilities to, by or from the Target, or in any other respect relating to its business or affairs.

 

		4.9	Defaults

 

		(a)	The Target has neither received nor so far as the Seller is aware has reason to expect any notice
in writing or otherwise from any counterparty that it is in material default under any Material Contract.

 

		(b)	So far as the Seller is aware, the Target is not:

 

		(i)	in material default under any obligations existing by reason of membership of any association or
body;

 

		(ii)	liable in respect of any representation or warranty (whether express or implied) or any matter
giving rise to a duty of care on its part.

 

		(c)	So far as the Seller is aware, no party to any Material Contract is in material default under such
Material Contract and, so far as the Seller is aware, there are no facts, matters or circumstances which are likely to give rise
to any such default.

 

    	32

    	 

    

 

		4.10	Validity of agreements

 

		(a)	Neither the Target nor the Seller has any knowledge of the invalidity of, or a ground for termination,
rescission, avoidance or repudiation of any Material Contract.

 

		(b)	No party with whom the Target has entered into any Material Contract has given written notice to
terminate or rescind or has sought to repudiate or disclaim any such Material Contract.

 

		4.11	Principal suppliers

 

		(a)	No supplier (including any person connected in any way with any such supplier) accounts for more
than 10% of the aggregate value of all purchases made by the Target.

 

		(b)	A list of the top 20 suppliers of the Target by value of purchases made by the Target from such
suppliers is attached to the Disclosure Letter.

 

		(c)	During the 12 months preceding the date of this agreement, no significant supplier of the Target
(being a supplier from whom the Target has made purchases having an aggregate value in excess of £25,000 during such period)
has ceased to deal with the Target or has indicated an intention to cease to deal with the Target, either in whole or in part,
and furthermore, no material supplier has changed or proposed to change payment terms in a significant way with the Target.

 

		(d)	The Seller has no knowledge, information or belief that any significant supplier of the Target
(being a supplier from whom the Target has made purchases having an aggregate value in excess of £25,000 during the 12 months
preceding the date of this agreement) will or may cease to deal with the Target or will or may substantially reduce its supplies
to the Target as a result of the provisions of this agreement.

 

		4.12	Principal customers

 

		(a)	No Customer (including any person connected in any way with any such Customer) accounts for more
than 10% of the aggregate value of all sales made by the Target.

 

		(b)	Except as provided in the Disclosure Letter, no Distributor has earned more than 10% of the aggregate
value of commissions paid.

 

		4.13	Licences and consents

 

		(a)	So far as the Seller is aware, the Target has obtained all licences, permissions, authorisations
and consents from any person, authority or body which are necessary for the proper carrying on of its business in the places and
in the manner in which such business is now carried on.

 

		(b)	A copy of each such licence, permission, authorisation or consent is attached to the Disclosure
Letter.

 

    	33

    	 

    

 

		(c)	All such licences, permissions, authorisations and consents are in full force and effect, are not
limited in duration or subject to any unusual or onerous condition.

 

		(d)	The Target is not in breach of any of the terms or conditions of any such licence, permission,
authorisation or consent and so far as the Seller is aware there are no facts, matters or circumstances which might in any way
prejudice the continuation or renewal of any such licence, permission, authorisation or consent.

 

		(e)	So far as the Seller is aware no party is or will be entitled to terminate or revoke any such licence,
permission, authorisation or consent as a result of the entry into or performance of this agreement or any of the transactions
contemplated by this agreement.

 

		4.14	Litigation

 

		(a)	Except as plaintiff in relation to the collection of unpaid debts arising in the ordinary course
of business (none of which exceeds £10,000 and which do not exceed £30,000 in aggregate), the Target is not involved
and during the five years preceding the date of this agreement has not been involved in any legal or administrative or arbitration
proceedings (whether as plaintiff or defendant or otherwise) and no such proceedings are pending or threatened and, so far as the
Seller is aware, there are no facts, matters or circumstances which are likely to give rise to any such proceedings.

 

		(b)	There is no unfulfilled or unsatisfied judgment or court order outstanding against the Target.

 

		4.15	Investigations and disputes

 

		(a)	The Target has not received any notice that any governmental or official investigation or inquiry
concerning the Target or any of its directors or employees is in progress or pending. The Seller is not aware of any facts or circumstances
that are likely to give rise to any potential governmental or official investigation or inquiry.

 

		(b)	There is no dispute with any government or any agency or body acting on behalf of such government
or any other body or authority in the United Kingdom or elsewhere in relation to the affairs of the Target and, so far as the Seller
is aware, there are no facts, matters or circumstances which are likely to give rise to any such dispute.

 

		(c)	So far as the Seller is aware the Target is not party to any undertaking or assurance given to
any court or government or governmental agency or regulatory body which is still in force.

 

		4.16	Compliance with laws

 

		(a)	So far as the Seller is aware, the Target has conducted and is conducting its business in all material
respects in accordance with all applicable laws and regulations whether of the United Kingdom or elsewhere.

 

    	34

    	 

    

 

		(b)	So far as the Seller is aware the Target is not in breach of any order, decree or judgment of any
court or any governmental or regulatory authority (whether of the United Kingdom or elsewhere).

 

		4.17	Insolvency

 

		(a)	The Target is not unable to pay its debts within the meaning of section 123 Insolvency Act 1986.

 

		(b)	No order has been made or petition presented or meeting convened for the purpose of considering
a resolution for the winding up of the Target nor has any such resolution been passed. No petition has been presented for an administration
order to be made in relation to the Target and no receiver (including any administrative receiver) has been appointed in respect
of the whole or any part of any of the property, assets or undertaking of the Target.

 

		(c)	No composition in satisfaction of the debts of the Target or scheme of arrangement of its affairs
or compromise or arrangement between it and its creditors and/or members or any class of its creditors and/or members has been
proposed, sanctioned or approved.

 

		(d)	No distress, execution or other process has been levied or applied for in respect of the whole
or any part of any of the property, assets or undertaking of the Target.

 

		(e)	The Target has not been a party to any transaction with any third party which, in the event of
such third party going into liquidation or being the subject of an administration order or a bankruptcy order, would constitute
(whether in whole or in part) a transaction at an undervalue, a preference, an invalid floating charge or an extortionate credit
transaction or part of a general assignment of debts or (in Scotland) an unfair preference or a gratuitous alienation pursuant
to the Insolvency Act 1986.

 

		5	EMPLOYMENT

 

		5.1	Employees and Terms of Employment

 

		(a)	The Disclosure Letter sets out a list of all the directors of the Target and employees of the Target
earning in excess of £40,000 per annum from such position together with particulars of the date of commencement of employment,
period of continuous employment, job description or grade, age, salary and all material benefits provided and the applicable terms
and conditions of employment of all such directors and employees of the Target.

 

		(b)	No employees of the Target are on secondment, maternity leave or absent on grounds of disability
or other long term leave of absence.

 

		(c)	No outstanding offer of employment has been made by the Target to any person nor has any person
accepted an offer of employment made by the Target but who has not yet commenced such employment.

 

		(d)	There are no contracts for services (including without limitation consultancy agreements) between
the Target and any person.

 

    	35

    	 

    

 

		(e)	All subsisting contracts of service or contracts for services to which the Target is a party are
determinable at any time by the Target on 6 months' notice or less without compensation.

 

		(f)	No director or employee earning in excess of £40,000 per annum has given notice to the Target
terminating his contract of employment which is outstanding as at the date of this agreement.

 

		5.2	Bonus and other schemes

 

		(a)	The Target does not have in existence or participate in any share incentive scheme or share option
scheme nor is it proposing to introduce or participate in any such scheme.

 

		(b)	There are no schemes (whether contractual or discretionary) in operation by, or in relation to,
the Target under which any director or employee of the Target or former director or employee is entitled to any bonus, profit-share,
commission or other incentive scheme (whether calculated by reference to the whole or part of the turnover, profits/losses or sales
of the Target or otherwise).

 

		(c)	The Target is not bound nor accustomed to pay any monies (other than in respect of contractual
remuneration or emoluments of employment or pension benefits) to or for the benefit of any director or employee of the Target.

 

		5.3	Changes in remuneration and terms and conditions

 

		(a)	Since the Management Accounts Date or (where the relevant employment or holding
of office commenced after such date), since the commencing date of the employment or holding of office no change has been made
in the rate of remuneration, emoluments, pension benefits or other terms of employment, of any director or employee earning in
excess of £20,000.00 per annum.

 

		(b)	No agreement has been reached with any director, employee, trade union or other body representing
employees that will or may on a future date result in an increase in any director’s or employee’s rate of remuneration
or enhanced emoluments of employment or pension benefits.

 

		5.4	Liabilities to employees

 

		(a)	The salaries and other benefits of all employees have been paid up to the last payment date prior
to Completion.

 

		(b)	So far as the Seller is aware, no outstanding liability has been incurred by the Target so far
as the Seller is aware for breach of any contract of employment or contract for services or redundancy payments, protective awards,
compensation for wrongful dismissal or unfair dismissal or for failure to comply with any order for the reinstatement or re-engagement
of any employee or in respect of any other liability arising out of the termination of any contract of employment or contract for
services.

 

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		5.5	Compliance

 

		(a)	All employees of the Target have received a written statement of particulars of employment as required
by section 1 Employment Rights Act 1996 to the extent they are so entitled.

 

		(b)	In relation to each of its employees, so far as the Seller is aware, the Target has complied in
all material respects with all statutes, regulations, codes of conduct, collective agreements, terms and conditions of employment,
orders and awards relevant to their conditions of service or to the relations between it and its employees or any recognised trade
union.

 

		(c)	During the period of five (5) years preceding the date of this agreement, the Target has not been
a party to any "relevant transfer" (as defined in the Transfer of Undertakings (Protection of Employment) Regulations
2006, as amended) or failed to comply with any duty to inform and consult with appropriate representatives of any affected employees
under Regulation 13 of the Transfer of Undertakings (Protection of Employment) Regulations 2006, as amended (or the equivalent
provisions of the Transfer of Undertakings (Protection of Employment) Regulations 1981).

 

		5.6	Employment Claims

 

		(a)	There are no legal or other proceedings between the Target on the one hand and any director or
employee of the Target or consultant or former director or employee of the Target or consultant on the other hand nor so far as
the Seller is aware are any such proceedings pending or threatened.

 

		(b)	In the five years preceding this agreement, no improvement or prohibition notice has been served
on the Target in connection with the conduct of its business by any governmental body or regulatory agency responsible for health
and safety.

 

		5.7	Discrimination

 

In the five
years preceding this agreement, there has been no recommendation made by an industrial tribunal nor any investigation by any governmental
body or regulatory agency responsible for investigating or enforcing matters relating to sex, race or disability discrimination.

 

		5.8	Effect of sale

 

The transactions
contemplated by this agreement do not entitle any director or employee to any one-off payment, bonus or commission or to terminate
his employment.

 

		5.9	Redundancies 

 

		(a)	During the five years preceding the date of this agreement, the Target has not given notice of
any redundancies to the relevant Secretary of State or started consultations with any trade union under Chapter II of Part IV Trade
Union and Labour Relations (Consolidation) Act 1992 or failed to comply with any of its obligations under Chapter II of Part IV
of such Act.

 

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		(b)	The Target has not given any notice of termination or dismissal or notice of redundancy to any
of its employees which is outstanding as at the date of this agreement.

 

		(c)	There are no severance, redundancy or other similar agreements or schemes conferring any entitlement
on any of the directors and employees of the Target to receive any payment on the termination of their employment (except for contractual
notice pay).

 

		5.10	Collective Agreements

 

The Target has not entered into
any collective agreement or arrangement with nor does it recognise a trade union, works council, staff association or other body
representing any of its employees nor has it done any act which might be construed as recognition.

 

		5.11	Industrial disputes

 

		(a)	Neither the Target nor its directors or employees is involved in any actual or threatened trade
dispute as defined by section 218 Trade Union and Labour Relations (Consolidation) Act 1992.

 

		(b)	No dispute has arisen during the five (5) years preceding the date of this agreement between the
Target and any material number or category of its employees (or any trade union or other body representing all or any of such employees)
and, so far as the Seller is aware, there are no facts, matters or circumstances which may give rise to any such dispute.

 

		5.12	Pensions

 

Except pursuant
to the Pension Schemes, the Target has not prior to the date of this agreement paid, provided or contributed towards, and nor has
the Target proposed nor is it under any obligation, liability or commitment however established (whether or not legally enforceable)
to pay, provide or contribute towards, any benefits under a pension scheme (as defined by section 150 of the Finance Act 2004)
for or in respect of any employee or former employee (including any spouse, child or dependent of any of them).

 

		6	ASSETS

 

		6.1	Ownership of assets

 

		(a)	The Target is the legal and beneficial owner and has good and marketable title to all assets included
in the Management Accounts or acquired by it since the Management Accounts Date (except for any current assets sold or realised
in the ordinary and normal course of business since the Management Accounts Date). None of those assets are the subject of any
Security Interest, equity, option, right of pre-emption or royalty except for:

 

		(i)	any hire or lease agreement entered into in the ordinary course of business involving expenditure
by the Target of less than £10,000 per annum (where the aggregate expenditure of the Target under all such agreements does
not exceed £30,000 per annum); or

 

    	38

    	 

    

 

 

		(ii)	retention of title provisions in respect of goods and materials supplied to the Target in the ordinary
course of business; or

 

		(iii)	liens arising in the ordinary course of business by operation of law.

 

		(b)	So far as the Seller is aware, no claim has been or will be made by any person entitled to any
Security Interest on or over any of the assets, property, or undertaking of the Target.

 

		(c)	So far as the Seller is aware there is no dispute, directly or indirectly, between the Target and
any person relating to any of the assets of the Target.

 

		(d)	All of the assets owned by the Target or which the Target has a right to use are in its possession
or under its control and are situated in the United Kingdom.

 

		6.2	Assets sufficient for the business

 

In the Seller's reasonable opinion,
the physical assets owned by the Target together with the services and facilities to which it has a contractual right comprise
all the physical assets, services and facilities necessary for the carrying on of the business of the Target as now carried on.

 

		6.3	Stock

 

		(a)	The stock of raw materials, packaging materials and finished goods now held are not excessive and
are adequate in relation to the current trading requirements of the business of the Target.

 

		(b)	So far as the Seller is aware none of the stocks of the Target (whether of raw materials, components,
parts, work in progress or finished products) contains any defect (whether of design, manufacture, assembly or otherwise) which
could give rise to a material liability on the part of the Target to any third party outside the ordinary course of business if
that stock or a product incorporating it were subsequently sold by the Target.

 

		(c)	Since the Management Accounts Date, there has been no material increase or decrease in the level
of the Target’s stock, and no material increase or decrease in the level of the Target’s stock is expected.

 

		6.4	Leased assets

 

So far as the Seller is aware no
circumstance exists or is likely to arise in relation to any asset held by the Target under a lease or similar agreement whereby
the rental payable has been or is likely to be increased. Additionally, all such assets have at all relevant times been used for
a qualifying purpose within the meaning of Part 2 Chapter 11 of the Capital Allowances Act 2001.

 

		6.5	Plant and machinery

 

		(a)	The plant, machinery, vehicles and other equipment owned or used by the Target:

 

    	39

    	 

    

  

		(i)	are in satisfactory working order and have been regularly and properly maintained;

 

		(ii)	are capable of doing the work for which they were designed or purchased and are not to any material
extent surplus to requirements.

 

		(b)	A copy of each maintenance contract in force in respect of any of the plant, machinery, vehicles
and other equipment used by the Target is attached to the Disclosure Letter.

 

		(c)	The plant register of the Target attached to the Disclosure Letter comprises a complete and accurate
record of all the plant, machinery, vehicles and other equipment owned or used by the Target.

 

		6.6	Insurance 

 

		(a)	The Target is now and has at all material times been adequately insured against accident, damage,
injury, third party loss (including, without limitation, product liability), loss of profits and other risks normally insured against
by persons carrying on the same type of business as that carried on by the Target.

 

		(b)	Details of all claims made by the Target under any policy of insurance effected by it or for its
benefit during the 2 years prior to the date of this agreement are disclosed in the Disclosure Letter.

 

		(c)	Copies of all the insurances in place exclusively for the benefit of the Target Group at the time
of Completion are attached to the Disclosure Letter.

 

		6.7	Intellectual property rights 

 

		(a)	The Target Intellectual Property Rights comprise all the Intellectual Property necessary for the
Target to operate its business as it is operated at the date of this agreement.

 

		(b)	Without limitation to paragraph (a) above, the trade marks listed in the Disclosure Letter comprise
all the trade marks necessary for the Target to operate its business as it is operated at the date of this agreement.

 

		(c)	The Target owns all right, title, interest in and to, or have valid and continuing rights to use,
sell, and license, all of the Intellectual Property used or acquired for use in conducting Target's business operations free and
clear of any and all security interests, liens, or obligations to others. The Target has not given any co-existence and/or co-use
agreements with any third party in connection with the Target Intellectual Property.

 

		(d)	The Target is the sole registered proprietor (or, where relevant, applicant for registration) of
all Registered Intellectual Property Rights.

 

		(e)	The Domain Names are all the internet domain names owned or used by the Target. The Target is the
sole registered proprietor of all the Domain Names.

 

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		(f)	So far as the Seller is aware, none of the Registered Intellectual Property Rights or Domain Names
are the subject of any pending or threatened proceedings for opposition, cancellation, revocation, rectification, licence of right
or relating to title or any similar proceedings anywhere in the world. The Seller is not aware of any circumstances which might
result in any such proceedings.

 

		(g)	So far as the Seller is aware there is no fact or matter (including any act or omission of the
Target or the Seller) which might result in any registrations of Registered Intellectual Property Rights or Domain Names, either
in whole or in part, being revoked, invalidated or rendered unenforceable or, in the case of applications for registration, which
might prejudice the prospects of registration.

 

		(h)	Other than pursuant to the IP Licences, the Seller and the Target have not granted and are not
obliged to grant any licence, sub-licence, Security Interest or assignment in respect of any of the Target Intellectual Property
Rights or the Third Party Intellectual Property Rights.

 

		(i)	So far as the Seller is aware the Target has not infringed any Intellectual Property owned by any
third party and has not breached any obligations of confidence owed to any third party.

 

		(j)	So far as the Seller is aware no third party has infringed the Target Intellectual Property Rights,
breached any obligations of confidence owed to the Seller or misappropriated or misused any Confidential Business Information.

 

		(k)	Neither the Seller nor the Target nor any of their officers, employees or agents have made any
threat in writing to bring proceedings for infringement of Intellectual Property which is actionable by virtue of applicable legislation.

 

		(l)	The Seller and the Target have not, except in the ordinary and normal course of business, disclosed
or permitted, agreed to, undertaken or arranged the disclosure of any Confidential Business Information to any person other than
the Buyer.

 

		6.8	Information technology

 

		(a)	Details of the material parts of the Systems and all agreements or arrangements relating to the
maintenance and support, security, disaster recovery management and use of the Systems are contained in the Disclosure Letter.

 

		(b)	The Systems have the capacity and performance necessary to fulfil the present requirements of the
Target, including those related to projects underway.

 

		(c)	The Seller and the Target have not disclosed to any third party any source code or algorithms relating
to any software forming part of the Systems.

 

		(d)	In the 2 years prior to the date of this agreement:

 

		(i)	there have been no bugs or viruses in or failures or breakdowns of the Systems or any part of them
which have caused material disruption or interruption in or to the business of the Target;

 

		(ii)	so far as the Seller is aware no person has gained unauthorised access to the Systems or any data
stored on them; and

 

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		(iii)	The Target is in all material respects in compliance with any and all Data Protection requirements
as might be required in the UK, EU or otherwise.

 

		7	PROPERTIES

 

The Target has
not at any time:

 

		(a)	Had vested in it (whether as an original tenant or undertenant or as an assignee, transferee or
otherwise) any freehold or leasehold property other than the Property; or

 

		(b)	Given any covenant or entered into any agreement, deed or other document (whether as a tenant or
undertenant or as an assignee, transferee, guarantor or otherwise) in respect of any freehold or leasehold property other than
those disclosed to the Buyer in writing in relation to the Property in respect of which any contingent or potential liability remains
with the Target.

 

		7.2	Environmental, Safety and Health Matters 

 

The Target has
obtained and maintains in full force and effect all material ESH Permits and true and complete copies of these are contained in
or annexed to the Disclosure Letter.

 

		8	ANTI-CORRUPTION

 

		8.1	For the purposes of this paragraph, "Associated Person": means in relation to a company,
any person whatsoever (whether an employee, agent, subsidiary or otherwise) who performs or has performed services for or on that
company's behalf.

 

		8.2	A far as the Seller is aware, no Associated Person of the Target has bribed another person (within
the meaning given in section 7(3) of the Bribery Act 2010) intending to obtain or retain business or an advantage in the conduct
of business for the Target and/or any of the Subsidiaries, and the Target has in place adequate procedures in line with the guidance
published from time to time by the Secretary of State under section 9 of the Bribery Act 2010 designed to prevent its Associated
Persons from undertaking any such conduct.

 

		8.3	The Target is not, and has never been, the subject of any investigation, inquiry or enforcement
proceedings by any governmental, administrative or regulatory body or any Customer regarding any matter which would constitute
an offence or alleged offence under the Bribery Act 2010, and no such investigation, inquiry or proceedings have been threatened
or are pending and there are no circumstances likely to give rise to any such investigation, inquiry or proceedings.

 

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Schedule
3

Warranty Limitations

 

		1	Time limits for bringing claims

 

		1.1	The Seller shall not be liable under the Warranties in respect of any claim unless and until it
shall have received from the Buyer written notice containing details of the relevant claim including the amount of the claim and
reasonable details of the matter or default which gives rise to the claim on or before the date which is 18 months from the Completion
Date.

 

		1.2	Any claim shall (if not previously satisfied, withdrawn or settled) be deemed to have been withdrawn
and waived by the Buyer unless legal proceedings in respect of such claim have been commenced (by being both issued and served
on the Seller) within 9 months of the notification of such claim to the Seller pursuant to paragraph 1.1.

 

		2	Limitations on quantum

 

		2.1	The Seller shall not be liable under the Warranties, the Tax Warranties or the Tax Covenant in
respect of any claim:

 

		(a)	unless the amount of the liability of the Seller for such claim exceeds £10,000; and

 

		(b)	unless the aggregate amount of the liability of the Seller for all such claims exceeds £40,000.

 

		2.2	Notwithstanding any other provision of this agreement the aggregate liability of the Seller under
the Warranties, the Tax Warranties and the Tax Covenants shall not exceed £3,618,534.

 

		3	No double counting

 

The Buyer shall not be entitled to
recover damages in respect of any claim for breach of any of the Warranties or the Tax Warranties or otherwise obtain reimbursement
or restitution more than once in respect of any one breach of Warranty or Tax Warranty or indemnity claim or claim under the Tax
Covenant to the extent that the claim arises out of or in connection with the same circumstances.

 

		4	Third party recoveries

 

		4.1	The Seller shall not be liable under the Warranties in respect of any claim:

 

		(a)	to the extent that recovery is made or is capable of being made by the Buyer or any member of the
Buyer's Group under any policy of insurance or to the extent that recovery would have been capable of being made under any policy
of insurance had the Buyer or any member of the Buyer’s Group effected policies of insurance on similar terms to those effected
by or for the benefit of the Target Group which are in force as at the date of this agreement;

 

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		(b)	to the extent that the Buyer or any member of the Buyer's Group or those deriving title from the
Buyer have already obtained reimbursement or restitution in respect of such claim from any third party.

 

		4.2	Where the Buyer or any member of the Buyer’s Group has or may have a claim against any third
party in relation to any matter which could give rise to a claim under the Warranties, the Buyer shall use all reasonable endeavours
to recover any amounts due from such third party.

 

		4.3	If the Seller pays to the Buyer an amount in respect of any claim under the Warranties and the
Buyer or any member of the Buyer’s Group subsequently recovers from a third party (including, without limitation, any insurer
or any tax authority) a sum which is referable to that claim, the Buyer shall repay to the Seller so much of the amount originally
paid by the Seller as does not exceed the sum recovered from the third party.

 

		5	Acts of the Buyer

 

The Seller shall not be liable under
the Warranties in respect of any claim:

 

		(a)	to the extent that such claim arises or is increased as a result of any breach by the Buyer of
any of its obligations under this agreement or any agreement or document entered into pursuant to this agreement;

 

		(b)	to the extent that such claim would not have arisen but for any transaction, arrangement, act or
omission (or any combination of the same) carried out or effected at any time after Completion by the Buyer or any member of the
Buyer's Group outside the ordinary course of its business; or

 

		(c)	to the extent that such claim is attributable to or is increased by any voluntary act, omission,
transaction or arrangement carried out by, at the request of the Buyer before Completion.

 

		6	Accounting

 

The Seller shall not be liable under
the Warranties in respect of any claim:

 

		(a)	to the extent that specific provision, reserve or allowance for the matter giving rise to the claim
has been made in the Management Accounts; or

 

		(b)	to the extent that the claim relates to a specific liability of the Target Group included in the
Management Accounts that has been discharged or satisfied below the amount attributed to it in the Last Accounts; or

 

		(c)	to the extent that the claim relates to any contingency or other matter provided for in the Management
Accounts has been over-provided for; or

 

		(d)	to the extent that the claim would not have arisen but for any changes in accounting policy or
practice of or affecting the Target Group where such changes are introduced after Completion save where such changes are required
to comply with applicable law or regulation.

 

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		7	General limitations

 

The Seller shall
not be liable under the Warranties in respect of any claim:

 

		(a)	which is based upon a liability which, at the time such claim is notified to the Seller, is contingent
only or otherwise not capable of being quantified unless and until such liability ceases to be contingent or becomes capable of
being quantified. Subject to such claim being notified to the Seller within the time limits specified in paragraph 1.1, the time
limit for issuing and serving proceedings for the purposes of paragraph 1.1 shall begin on the date on which such liability ceases
to be contingent or becomes capable of being quantified;

 

		(b)	which arises as a result of, or would not have arisen but for, or a liability is increased as a
result of, legislation not in force at the date of this agreement or any change in legislation with retrospective effect after
the date of this agreement;

 

		(c)	which is capable of remedy, unless and until the Buyer has given the Seller not less than 20 Business
Days’ written notice within which to remedy such breach and the Seller has failed to do so within such period;

 

		8	Mitigation by the Buyer

 

The Buyer shall take all reasonable
steps to mitigate any loss, liability or damage which is likely to give rise to a claim under the Warranties or the Tax Warranties.
Nothing in this agreement shall relieve the Buyer of any common law or other duty to mitigate any loss, liability or damage suffered
or incurred by it.

 

		9	Conduct of claims

 

		9.1	If the Buyer becomes aware of any fact, matter or circumstance which is likely to give rise to
a claim under the Warranties, the Buyer shall give notice of such fact, matter or circumstance to the Seller as soon as reasonably
practicable and in any event within 20 Business Days of becoming aware of any such fact, matter or circumstance.

 

		9.2	If any claim is made against the Buyer or any member of the Buyer's Group by any third party which
is likely to in turn lead to a claim by the Buyer against the Seller under the Warranties then the Buyer shall;

 

		(a)	give notice of such claim to the Seller as soon as reasonably practicable after the Buyer becomes
aware of it;

 

		(b)	keep the Seller informed as to the progress of any such claim and shall procure that the Seller
is promptly sent copies of all relevant communications and other documents (written or otherwise) transmitted to any other party
to any proceedings or their agents or professional advisers (including, without limitation, pleadings and any opinion of Counsel
relating to any proceedings against any third parties);

 

		(c)	take, and shall procure that each member of the Buyer’s Group shall take, all reasonable
steps so as to recover or minimise or resolve such liability or dispute and, upon request by the Seller; and

 

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		(d)	comply with the reasonable requests of the Seller in relation to such claim including (without
limitation) giving the Seller access to premises, personnel, documents and records for the purpose of investigating the matters
giving rise to such claim.

 

		10	Reduction in consideration

 

If any amount is paid by the Seller
under the Warranties, the Tax Warranties or the Tax Covenant, the amount of such payment shall be deemed to constitute a reduction
in the consideration payable under this agreement.

 

		11	Limitation of scope of warranties

 

		11.1	The only Warranties which shall apply in relation to Intellectual Property are the Warranties set
out at paragraph 6.7 of Schedule 2.

 

		11.2	The only Warranties which shall apply in relation to the Environment are the Warranties set out
at paragraph 7.2 of Schedule 2.

 

		12	No termination or rescission

 

Other than where expressly stated
in this agreement, or in the case of fraud or intentional misrepresentation, the Buyer shall have no further rights to terminate
or rescind this agreement or any agreement or document entered into pursuant to this agreement.

 

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Schedule
4

TAX

 

Part 1 – Definitions and Interpretation

 

		1	definitions

 

In this Schedule the following words
and expressions (except where the context otherwise requires) have the following meanings:

 

"Actual Tax Liability"
means any liability of the Target to make a payment of, or of an amount in respect of Tax whether or not presently payable, whether
satisfied or unsatisfied at Completion, whether or not the same is primarily payable by the Target or the Buyer and whether or
not the Target or the Buyer has, or may have, any right of reimbursement against any other person or persons.

 

"Auditors" means the
auditors for the time being of the Target.

 

"Buyer's Relief"
means:

 

		(a)	any Relief arising to the Buyer or any member of the Buyer's Group (other than the Target);

 

		(b)	any Relief (other than a Corresponding Relief) arising to the Target as a consequence of, or by
reference to, an Event, occurring between the Management Accounts Date and Completion in the ordinary course of business of the
Target;

 

		(c)	any Relief (other than a Corresponding Relief) arising to the Target as a consequence of, or by
reference to, an Event occurring after Completion or in respect of a period commencing after Completion; and

 

		(d)	any Relief taken into account as an asset in the Management Accounts or applied in reduction of
a provision for deferred Tax in the Management Accounts.

 

"Claim for Tax"
means any assessment (including a self-assessment), notice, demand, letter or other document issued by or action taken by or on
behalf of any person, authority or body from which it appears that the Seller is or may be liable under this Schedule or for a
breach of the Tax Warranties.

 

"Corresponding Relief"
means:

 

		(a)	any Relief arising as a result of a liability in respect of which the
Seller has made a payment under the Tax Covenant or for breach of any of the Tax Warranties;

 

		(b)	any Relief arising as a result of or in connection with the Event or
Events which gave rise to a liability in respect of which the Seller has made a payment under the Tax Covenant or for breach of
any of the Tax Warranties;

 

		(c)	any Relief which has been claimed in respect of:

 

		(i)	an accounting period of the Target ending before Completion, or

 

    	47

    	 

    

  

		(ii)	the pre-Completion part of the accounting period of the Target which
is current at Completion,

 

which is disallowed by a Tax Authority
so as to give rise to a liability in respect of which the Seller has made a payment under the Tax Covenant or for breach of any
of the Tax Warranties and which remains available to be used in an accounting period of the Target other than the one in respect
of which it was originally claimed,

 

in each case where such Relief does
not fall within part (d) of the definition of Buyer's Relief.

 

"CTA 2009" means
the Corporation Tax Act 2009.

 

"CTA 2010" means
the Corporation Tax Act 2010.

 

"CTIP" means the
Corporation Tax (Instalment Payment) Regulations 1998 (SI 1998/3175).

 

"Effective Tax Liability"
has the meaning given to it in paragraph 2.2 of Part 1 of this Schedule.

 

"Event" means any
transaction, arrangement, act, failure or omission (including the execution and performance of this agreement), Completion and
any distribution, failure to distribute, acquisition, disposal, transfer, payment, loan or advance, the expiry of any time period,
membership of or ceasing to be a member of any group or partnership or any change of intention relevant for Tax purposes or any
change in the residence of any person for Tax purposes.

 

"Group Relief" means
any of the following:

 

		(a)	Relief surrendered or claimed pursuant to Part 5 CTA 2010; or

 

		(b)	a Tax refund relating to an accounting period as defined by section 963(4) CTA 2010 (surrender
of company tax refund etc within group) in respect of which a notice has been given pursuant to section 963(2) of that statute.

 

"ITA" means the
Income Tax Act 2007.

 

"Non-availability"
means loss, reduction, modification, cancellation, non-availability or non-existence.

 

"Overprovision" means:

 

		(a)	the amount by which any provision for Tax (including for the avoidance
of doubt any provision for deferred Tax) contained in the Management Accounts proves to be an over provision; and

 

		(b)	the amount by which any repayment of Tax to the Target by a Tax Authority
shown in the Management Accounts proves to be understated (or if no amount is shown, the amount of any repayment of Tax to the
Target).

 

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"Relief" means any
loss, allowance, credit, relief, deduction, exemption or set-off from or against or in respect of Tax or any right to a repayment
of Tax.

 

"Repayment" means the
Target obtaining:

 

		(a)	a repayment of Tax received by the Target in respect of which same Tax
the Seller has made a payment under the Tax Covenant or for breach of any of the Tax Warranties; and

 

		(b)	a repayment of Tax received by the Target as a result of the use of
a Corresponding Relief,

 

and, in either case, where such repayment
does not fall within paragraph (d) of the definition of Buyer's Relief.

 

"Saving" means the
reduction or elimination of any Actual Tax Liability in respect of which the Seller would not have been liable under the Tax Covenant
by the use of a Corresponding Relief.

 

"Seller's Relief"
means any Relief other than a Buyer's Relief.

 

"Tax" means all
forms of tax, charge, duty, impost, withholding, deduction, levy and governmental charge (whether national or local) in the nature
of tax, whether of the United Kingdom, Ireland or elsewhere, and any amount payable to any Tax Authority or any other person as
a result of any enactment relating to tax (but for the avoidance of doubt excluding water rates, business rates and other utility
or local authority charges), together with all related penalties and interest.

 

"Tax Authority"
means any statutory or governmental authority or body (whether in the United Kingdom, Ireland or elsewhere) involved in the collection
or administration of Tax including H M Revenue & Customs.

 

"Tax Covenant" means
the covenant set out in Part 3 of this Schedule.

 

"Tax Liability"
means an Actual Tax Liability or an Effective Tax Liability.

 

"Tax Payment" means
any balancing payment (as defined in sections 195 to 198 TIOPA), any payment referred to in section 171A(5) or 179A(11) TCGA and/or
any payment referred to in section 799 CTA 2009.

 

"Tax Statutes" means
any primary or secondary statute, instrument, enactment, order, law, by-law or regulation making any provision for or in relation
to Tax.

 

"Tax Warranties"
means the warranties set out in Part 2 of this Schedule.

 

"TCGA" means the
Taxation of Chargeable Gains Act 1992.

 

"TIOPA" means the
Taxation (International and Other Provisions) Act 2010.

 

"VAT" means value
added tax within the meaning of the VATA.

 

"VATA" means the
Value Added Tax Act 1994.

 

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		2	interpretation

 

		2.1	In this Schedule "the Target" includes, in addition to the Target, the Subsidiary with
the intent and effect that the provisions of this Schedule shall apply to and be given in respect of the Subsidiary as well as
the Target.

 

		2.2	In this Schedule "Effective Tax Liability" means the following:

 

		(a)	the Non-availability in whole or in part of any Relief as described in sub-paragraph (d) of the
definition of Buyer's Relief; or

 

		(b)	the utilisation or set-off of any Buyer's Relief against any Tax or against income, profits or
gains in circumstances where but for such utilisation or set-off an Actual Tax Liability would have arisen in respect of which
the Seller would have been liable to the Buyer under the Tax Covenant.

 

		2.3	The value of an Effective Tax Liability is as follows:

 

		(a)	where the Effective Tax Liability involves the Non-availability of any Relief:

 

		(i)	if the Relief is a right to repayment of Tax, the amount of the repayment which is not available;
and

 

		(ii)	in any other case, the amount of Tax which would not have been payable but for the Non-availability
of the Relief;

 

		(b)	where the Effective Tax Liability involves the utilisation or set-off of a Buyer's Relief the amount
of Tax saved by such utilisation or set-off.

 

		2.4	Reference in this Schedule to the result of any Event on or before Completion includes the combined
result of two or more Events the first or some or part of which took place on or before Completion and where the Event or Events
taking place after Completion is or are:

 

		(a)	the completion of the disposal by the Target of any asset which was contracted to be sold by the
Target before Completion where the proceeds of sale of such asset were i) reflected in the Management Accounts; or ii) received
prior to Completion but have not been retained by the Target at Completion nor spent in the ordinary course of business of the
Target between the Management Accounts Date and Completion;

 

		(b)	the satisfaction of a condition to which the disposal by the Target of any capital asset pursuant
to a contract entered into before Completion was subject (in which case the disposal shall, for the purpose of this Schedule, be
treated as having been made before Completion and any liability for Tax arising from such disposal shall be treated as having arisen
before Completion) where the proceeds of sale of such asset were i) reflected in the Management Accounts; or ii) received prior
to Completion but have not been retained by the Target at Completion nor spent in the ordinary course of business of the Target
between the Management Accounts Date and Completion;

 

		(c)	the service of any notice pursuant to section 746 CTA 2010 or section 698 ITA

 

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		(d)	the issue, making, receipt or submission of any Claim for Tax;

 

		(e)	any act or omission (including a failure to make a payment of Tax) or change in residence of any
company (other than the Target) which was at any time before Completion a member of the same group of companies as the Target for
the purposes of any Tax;

 

		(f)	the making of any chargeable payment (as defined in section 1086 CTA 2010); or

 

		(g)	the exercise of any option granted on or before Completion or the acquisition of any shares or
securities pursuant to any right acquired on or before Completion

 

		(h)	the death of any individual who, in the seven years preceding his death, was the donor of any asset
owned by the Target at Completion.

 

		2.5	Reference in this Schedule to income, profits or gains earned, accrued or received on or before
Completion includes income, profits or gains which are deemed to be or are treated or regarded as earnings, accrued or received
on or before Completion for any Tax purpose.

 

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Part 2 – Tax Warranties

 

		1	administration

 

		1.1	The Target has accounted for and paid all Tax for which it is liable to account and pay and which
was due and payable on or before the due date for payment and is under no liability to pay any penalty, fine, surcharge or interest
in respect of Tax.

 

		1.2	All payments by the Target to any person which are required by law to be made under deduction or
withholding of Tax have been so made and the Target has if required by law to do so accounted to the relevant Tax Authority for
the Tax so deducted or withheld.

 

		1.3	All computations and returns that should have been made by the Target before Completion for any
Tax purpose have been punctually made, were correct and complete in all material respects and are not the subject of any material
dispute with any Tax Authority.

 

		1.4	The Target has maintained and has in its possession or under its control all material records which
it is required by any of the Tax Statutes to maintain.

 

		1.5	No Tax Authority has agreed in writing to operate any special arrangement in relation to the Target's
affairs.

 

		1.6	The Target has not been subject to any non-routine audit, investigation or visit by any Tax Authority.

 

		2	status of the target

 

		2.1	The Target is and has always been resident in the United Kingdom for Tax purposes and is not and
has not at any time been treated as resident in any other jurisdiction for any Tax purpose.

 

		2.2	The Target is not and has at no time been an investment company or an investment trust company
for the purposes of the Tax Statutes.

 

		2.3	The Target does not have and has never had, or been treated at any time as having, a branch, agency
or permanent establishment in, and the Target is not liable to Tax in, any jurisdiction other than the jurisdiction in which it
was incorporated.

 

		3	group relief

 

		3.1	The Target has not in the last 3 years:

 

		(a)	made or agreed to make a surrender of group relief pursuant to Part 5 CTA 2010 (group relief);

 

		(b)	made nor is liable to make any payment for any surrender of group relief pursuant to Part 5 CTA
2010 surrendered or to be surrendered to it.

 

		4	corporation tax – instalment payments

 

The Target is a "large company"
as defined by regulation 3 CTIP and the Target has duly and punctually made all payments required to be made by CTIP.

 

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		5	corporation tax – distributions

 

The Target has not in the six years
prior to Completion:

 

		(a)	been concerned with or in any distribution for the purposes of Part 23 Chapter 5 CTA 2010 (demergers);
or

 

		(b)	at any time repaid or redeemed or agreed to repay or redeem any shares of any class of its share
capital or otherwise reduced or agreed to reduce its share capital or any class thereof or issued any share capital as paid up
otherwise than by the receipt of new consideration (as defined in section 1115 CTA 2010).

 

		6	chargeable gains

 

		6.1	The Target has not in the six years prior to Completion disposed of or acquired any asset in circumstances
falling within section 17 TCGA (disposals and acquisitions treated as made at market value) and is not entitled to any capital
loss to which section 18(3) TCGA (transactions between connected persons) may apply.

 

		6.2	The Target has not been a party to or involved in any share for share exchange or any scheme of
reconstruction or amalgamation such as are mentioned in sections 135 (exchange of securities for those in another company), 136
(reconstruction or amalgamation involving issue of securities) or 139 (reconstruction or amalgamation involving transfer of business)
TCGA under which shares or debentures have been issued or any transfer of assets has been effected.

 

		6.3	The Target has not at any time received any asset by way of gift.

 

		6.4	Neither the Target nor any company which was a member of the same group of companies as the Target
at the relevant time has made any claim under sections 152 to 157 inclusive TCGA (replacement of business assets).

 

		7	close companies

 

The Target is not and never has been
a close company as defined in section 439 CTA 2010 (close companies) or a close investment-holding company as defined in section
34 CTA 2010 (close investment-holding companies).

 

		8	inheritance tax

 

		8.1	The Target is not liable to be assessed to inheritance tax by virtue of Part VII Inheritance Tax
Act 1984.

 

		8.2	None of the shares in or assets owned by the Target are subject to an H M Revenue & Customs
charge within section 237 Inheritance Tax Act 1984.

 

		9	stamp duty etc

 

		9.1	All instruments (other than those which have ceased to have any legal effect) to which the Target
is a party as purchaser, lessee or assignee and which, whether in the United Kingdom, Ireland or elsewhere, are required to be
stamped either with a particular stamp denoting that no duty has been chargeable or that the document has been produced to the
appropriate authority, have been properly stamped, and no such documents which are outside the United Kingdom would attract stamp
duty if they were brought into the United Kingdom.

 

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		9.2	Neither entering into this Agreement, Completion or the performance of this Agreement will result
in the withdrawal of any stamp duty or stamp duty land tax relief granted on or before Completion which will affect the Target.

 

		10	VALUE ADDED TAX

 

		10.1	The Target has within the six years ending on the Last Accounts Date been treated as a member of
a group of companies (the "VAT Group") for the purposes of section 43 VATA (groups of companies) of which the
representative member is Findel plc (the "Representative Member").

 

		10.2	All VAT due and payable to HM Revenue & Customs by the Representative Member or by the Target
has been declared and paid in full.

 

		10.3	Neither the Representative Member nor the Target is in default in respect of any prescribed accounting
period as mentioned in section 59(1) VATA (default surcharge).

 

		10.4	Neither the Target nor a relevant associate for the purposes of paragraph 2 of Schedule 10 VATA
has exercised an option to tax which applies to any land owned by the Target at Completion pursuant to paragraph 2 of Schedule
10 VATA.

 

		10.5	Neither the Target nor a relevant group member for the purposes of paragraph 21 of Schedule 10
VATA has made a real estate election in relation to any land owned by the Target at Completion pursuant to paragraph 21 of Schedule
10 VATA.

 

		10.6	The Target has never made any supplies which are exempt from VAT of such proportion that it is
unable to claim credit for all input tax paid or suffered by it.

 

		11	GROUP TRANSACTIONS AND RELATED PARTY TRANSACTIONS

 

		11.1	The Target has not in the last seven years acquired any asset from any company which at the time
of the acquisition was a member of the same group of companies as defined in section 780 CTA 2009.

 

		11.2	So far as the Seller is aware neither the execution nor the performance or completion of this Agreement,
nor any other Event since the Management Accounts Date, has resulted or will result in any asset or liability being deemed to have
been disposed of and/or reacquired by the Target and/or will result in the Target being deemed to have earned, accrued or received
any income, profits or gains in each case other than in the ordinary course of business of the Target as carried on at Completion.

 

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Part 3 –
Tax Covenant

 

		1	covenant

 

		1.1	Subject as provided in this Schedule the Seller covenants with the Buyer to pay to the Buyer an
amount equal to:

 

		(a)	any Actual Tax Liability which arises before, on or after Completion, as a result of or by reference
to an Event occurring (or deemed to occur for the purposes of any Tax Statutes) or income, profits or gains received by the Target
on or before Completion; and

 

		(b)	the value of any Effective Tax Liability; and

 

		(c)	any Tax Liability in respect of inheritance tax which:

 

		(i)	is at Completion in the form of a charge on, or gives rise to a power to sell, mortgage or charge,
any assets of the Target or the Shares; or

 

		(ii)	after Completion takes the form of a charge on, or gives rise to a power to sell, mortgage or charge,
any assets of the Target or the Shares as a result of the death of any person after Completion which would, if the death had occurred
immediately before Completion and the inheritance tax payable as a result had not been paid, have existed at Completion; or

 

		(iii)	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 whenever occurring) which increased or decreased the value of the estate
of the Target; and

 

		(d)	any Actual Tax Liability of the Target arising as a result of or by reference to:

 

		(i)	the application of Chapter 6 Part 14 CTA 2010 or which is a secondary liability of the Target in
each case arising as a result of the failure of any person who has prior to Completion been connected or associated for any Tax
purpose with the Seller or the Target (other than the Target or the Buyer) at any time to pay any amount of Tax due to be paid
by them;

 

		(ii)	any liability of the Target (whether or not discharged on or before Completion) to pay or repay
to any person (other than the Target) any Tax Payment under any agreement or arrangement entered into on or before Completion or
any amount under any agreement or arrangement entered into before Completion relating to any surrender of Group Relief by or to
the Target other than payments for Group Relief made in accordance with paragraph 8 of Part 4 of this Schedule;

 

		(iii)	any liability of Target (whether or not discharged on or before Completion) to make a payment or
increased payment in respect of Tax to any person under any indemnity, covenant, guarantee, charge, agreement or arrangement in
respect of Tax entered into before Completion other than payments for Group Relief made in accordance with paragraph 8 of Part
4 of this Schedule;

 

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		(iv)	the Debt Waiver, whether arising before, on or after Completion;

 

		(e)	any reasonable costs or expenses properly incurred by the Buyer or the Target in connection with
or in consequence of any of the matters referred to at paragraphs 1.1(a) to 1.1(d) or in pursuing any Claim for Tax for which the
Seller is liable under the Tax Covenant or in successfully taking any action under this Schedule.

 

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Part 4 – Limitations and Procedure

 

		1	limitations

 

		1.1	The Seller shall not be liable in respect of any Tax Liability or any claim under the Tax Warranties
to the extent that:

 

		(a)	provision, reserve or allowance was made for such Tax Liability in the Management Accounts or such
Tax Liability is discharged prior to Completion to the extent such payment or discharge has been taken into account in the preparation
of the Management Accounts; or

 

		(b)	such Tax Liability arises in the ordinary course of business of the Target carried on since the
Management Accounts Date;

 

		(c)	such Tax Liability would not have arisen but for any voluntary act, transaction or omission carried
out by the Target, the Buyer or any member of the Buyer's Group outside the ordinary course of business after Completion which
that person knew or ought reasonably to have known would give rise to the liability, save that this exclusion shall not apply where
such transaction, action or omission:

 

		(i)	is required by any legislation or other statutory requirement; or

 

		(ii)	is carried out or effected pursuant to a legally binding obligation of the Target entered into
on or before Completion; or

 

		(iii)	is the provision of any information or disclosure legally required to be made to any Tax Authority;

 

		(d)	such Tax Liability arises or is increased or any provision or reserve in respect of the Tax Liability
in the Management Accounts is insufficient as a result of the imposition of any Tax or any increase in rates of Tax or any change
in law or in the published practice or concession of any Tax Authority in each case occurring after Completion;

 

		(e)	such Tax Liability arises or is increased or any provision or reserve in respect of the Tax Liability
in the Management Accounts is insufficient as a result of any change after Completion in the bases, methods or policies of accounting
of the Target but excluding any change required to comply with any law or generally accepted accounting practices or principles
applicable to the Target;

 

		(f)	the Tax Liability would not have arisen but for any claim, election, surrender or disclaimer made
or notice or consent given or done, after Completion (other than (i) at the written request, direction or otherwise with the written
approval of the Seller or (ii) the making, the giving or doing of which was taken into account in computing any provision for Tax
in the Management Accounts) under, or in connection with the provisions of any enactment or regulation relating to Tax by the Target
or any member of the Buyer's Group;

 

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		(g)	the Tax Liability would not have arisen but for the failure or omission by the Target or any member
of the Buyer's Group (other than at the written request, direction or otherwise with the written approval of the Seller) to make
any valid claim, election, surrender or disclaimer or give any notice, or consent under or in connection with, the provision of
any enactment or regulation relating to Tax at Completion where the making, giving or doing of which was permitted by law and is
taken into account in computing any provision in the Management Accounts;

 

		(h)	such Tax Liability would not have arisen or would have been reduced or eliminated but for any act,
omission, transaction or arrangement carried out at the written request or with the written approval of the Buyer;

 

		(i)	any Seller's Relief is available (or is made available) to the Target or the Buyer at no cost to
either (except to the extent such cost is recovered from the Seller and, for the avoidance of doubt, the availability of the Seller’s
Relief shall, in itself, not constitute a cost to the Target) to reduce or eliminate the Tax Liability;

 

		(j)	such Tax Liability arises or is increased or any provision or reserve in respect thereof as is
mentioned in sub-paragraph 1.1(a) above is insufficient as a consequence of any failure or delay by the Buyer or the Target in
complying with its obligations under the provisions of paragraph 3 (conduct of claims) or paragraph 11 (tax administration) of
Part 4 of this Schedule;

 

		(k)	the income, profits or gains in respect of which the Tax Liability arises were actually earned,
accrued or received by the Target prior to the Management Accounts Date but were not reflected in the Management Accounts and were
retained by the Target at Completion or expended in the ordinary course of business of the Target prior to Completion;

 

		(l)	the Tax Liability would not have arisen but for a cessation or any change in the nature of conduct
of any trade carried out by the Target being a change or cessation occurring on or after Completion; or

 

		(m)	the Tax Liability arises as a consequence of an underpayment prior to Completion of the quarterly
instalments of corporation tax in respect of the period between the Last Accounts Date and Completion as a consequence of the Target
generating additional profits chargeable to corporation tax after Completion exceeding those reasonably assumed by the Seller or
the Target in calculating such quarterly instalments.

 

		1.2	The Seller shall not be liable in respect of any Tax Liability giving rise to a breach of the Tax
Warranties if and to the extent that it has paid an amount to the Buyer in respect of such liability under the Tax Covenant or
vice versa in respect of any claim under the Tax Covenant.

 

		2	duration and extent

 

		2.1	The Seller shall not be liable under the Tax Covenant or for breach of any of the Tax Warranties
unless it has received from the Buyer written notice of the Claim for Tax which relates to that Tax Liability within the date which
is six years from the end of the accounting period in which Completion occurs.

 

		2.2	Any claim for breach of any of the Tax Warranties shall (if not previously satisfied, withdrawn
or settled) be deemed to have been withdrawn and waived by the Buyer unless legal proceedings in respect of that claim have been
commenced by being both issued and served on the Seller within nine months after the end of the period referred to in paragraph
2.1 of this Part.

 

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		2.3	For the avoidance of doubt the provisions of Schedule 3 of this agreement apply in respect of any
Tax Liability mutatis mutandis as if the same were set out and repeated in this Schedule only to the extent that such provisions
expressly refer to the Tax Warranties or the Tax Covenant.

 

		3	conduct of claims

 

		3.1	If the Target receives or becomes aware of a Claim for Tax, the Buyer shall or shall procure that
the Target shall give written notice of such Claim for Tax to the Seller as soon as reasonably practicable and, in any event, in
the case where the Claim for Tax consists of an assessment or demand for which the period for response or appeal is time limited,
within fifteen Business Days prior to the expiry of such time limit (provided that failure to deliver such notice within such time
frame should not restrict the ability of the Buyer to make a claim against the Seller pursuant to this Schedule or for breach of
the Tax Warranties).

 

		3.2	Subject to this paragraph 3.2 and paragraph 3.3 of this Part the Buyer shall or shall procure that
the Target shall take such action to avoid, dispute, resist, appeal, mitigate, compromise or contest any Claim for Tax as the Seller
may reasonably request in writing (any such action being an "Action") provided always that:

 

		(a)	in each case, the Buyer and the Target shall be first indemnified to the Buyer's reasonable satisfaction
by the Seller against all reasonable costs and expenses (including any additional Tax Liability) which may be properly incurred
by the Buyer or the Target as a result of, or in taking the Action;

 

		(b)	if prior to, or as a condition of, taking an Action, the Target is obliged to pay to, or lodge
with, any Tax Authority any Tax which is the subject of the Claim for Tax (whether in whole or in part) (any such amount being
the Payment) neither the Buyer nor the Target shall be obliged to take any such Action unless and until the Seller pays
to the Buyer an amount equal to the Payment. Within 2 Business Days of receipt of any such amount from the Seller, the Buyer shall
procure that the Target makes the Payment to the relevant Tax Authority;

 

		(c)	if:

 

		(i)	on the expiry of a period of 15 Business Days commencing on the date of any notice given by the
Buyer to the Seller pursuant to paragraph 3.1, the Seller shall not have given to the Buyer written notice pursuant to this paragraph
3.2 requesting any Action to be taken; or

 

		(ii)	on the expiry of that period the Seller shall not have provided the indemnity required in accordance
with paragraph 3.2(a);

 

the Buyer and the Target shall be entitled
to deal with the Claim for Tax on such terms as they shall in their discretion acting reasonably think fit.

 

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		(d)	the Buyer and the Target shall not be obliged to comply with any request of the Seller which involves
appealing, or otherwise taking any action in respect of, any Claim for Tax before any tribunal, court or any other appellate body
(or contesting any determination in respect of any Demand by any tribunal, court or other appellate body) unless leading tax counsel
instructed by agreement between the Buyer and the Seller (at the sole expense of the Seller) and after full disclosure of all relevant
information and documents advises in writing that such appeal will have more than a fifty per cent prospect of success;

 

		(e)	the Buyer shall not be obliged to take any Action in relation to a Claim for Tax where any Tax
Authority alleges in writing that fraudulent conduct, or conduct involving dishonesty, has been committed by the Seller or any
member of the Target Group prior to Completion in connection with such Claim for Tax, provided that the Seller shall first be afforded
a reasonable opportunity to contest or refute such allegation, and the foregoing provisions of this paragraph 3.2(e) shall only
apply if the Tax Authority:

 

		(i)	refuses to withdraw the allegation within 3 months of it being made; or

 

		(ii)	does not provide, within 3 months of the allegation being made, sufficient evidence to demonstrate,
to the satisfaction of the Buyer, that there is no fraudulent conduct, or conduct involving dishonesty on the part of the Seller
or any member of a Target Group.

 

		3.3	Subject to this paragraph 3.3 and paragraph 3.4 of this Part the Seller may (at the sole cost and
expense of the Seller) elect to have any action referred to in paragraph 3.2 delegated to it and conducted by professional advisers
nominated by it for this purpose acting in the name of the Target but reporting to the Seller in which event the Seller shall:

 

		(a)	keep the Buyer fully informed of all material matters relating to the Action and deliver to the
Buyer copies of all material documents and correspondence relating to the Action.

 

		(b)	obtain the Buyer's prior written approval (not to be unreasonably withheld or delayed) to the content
and sending of written communications relating to the Action to a Tax Authority;

 

		(c)	obtain the Buyer's prior written approval (not to be unreasonably withheld or delayed) to the appointment
of solicitors or other professional advisers;

 

		(d)	notify the Buyer in writing of any meetings with a Tax Authority not less than 7 Business
Days prior to any such meeting and the Buyer and/or any professional advisors of the Buyer shall be entitled to attend any such
meeting;

 

		(e)	obtain the Buyer's prior written approval (not to be unreasonably withheld or delayed) to:

 

		(i)	the settlement or compromise of the Claim for Tax which is the subject of the Action; and

 

		(ii)	the agreement of any matter in the conduct of the Action which is likely to affect the amount of
the Claim for Tax.

 

		3.4	The Buyer shall (or shall procure that the Target shall) provide such information and assistance
as the Seller may reasonably require in connection with the preparation for any conduct of such proceedings.

 

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		3.5	If at any time the Seller has not exercised the election referred to in paragraph 3.3 above but
requests that the Target take any action referred to in paragraph 3.2 above the provisions of paragraph 3.3 (other than paragraph
3.3(c)) shall apply as if references to the "Seller" are references to the "Buyer" and vice versa.

 

		3.6	If there is a dispute between the Seller and the Buyer as to whether or not any action requested
by the Seller under paragraph 3.2 is reasonable and the dispute is not resolved between the Seller and the Buyer, such dispute
shall be referred for determination to an independent member of the Chartered Institute of Taxation or to an independent accountant
specialising in Tax matters, in either case, of at least 10 years' experience, appointed by agreement between the Seller and the
Buyer or (if they do not agree) upon the application made by either party to the President, for the time being, of the Chartered
Institute of Taxation who shall also be authorised to determine how the costs of obtaining his opinion should be allocated between
the parties hereto.

 

		4	date for payment

 

		4.1	A payment to be made by the Seller under this Schedule shall be made in cleared funds on the following
dates:

 

		(a)	in the case of an amount under paragraphs 1.1(a), 1.1(c) or 1.1(d) of Part 3 of this Schedule on
or before the later of:

 

		(i)	seven days after written demand for such payment; and

 

		(ii)	two days before the date on which the Tax is finally due to the Tax Authority demanding the same
(or would have been due but for the utilisation of any Relief);

 

		(b)	in the case of an amount in respect of an Effective Tax Liability within paragraph 2.2(a) of Part
1 of this Schedule on or before the later of:

 

		(i)	seven days after written demand for such payment; and

 

		(ii)	two days before the date on which Tax becomes payable which would not have been payable if no liability
had arisen under paragraph 2.2(b) of Part 3 of this Schedule or, in the case of a repayment of Tax, the date on which such repayment
would have been made;

 

		(c)	in the case of an amount in respect of an Effective Tax Liability within paragraph 2.2(b) of Part
1 of this Schedule, on or before the later of:

 

		(i)	seven days after written demand for such payment; and

 

		(ii)	two days before the date on which the Payment of Tax saved thereby would otherwise have become
due and payable to the relevant Tax Authority; and

 

		(d)	in the case of an amount under paragraph 1.1(e) of Part 3 of this Schedule within seven days of
the Buyer giving written notice of the costs and expenses to the Seller.

 

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		4.2	Where the Seller fails to a make a payment in satisfaction of a liability under this Schedule by
the due date for payment, the liability of the Seller shall be increased to include interest on such sum from the date on which
the Seller becomes liable to make payment to the date of actual payment at a rate per annum being two per cent above the base rate
from time to time of Barclays Bank plc compounded monthly (such interest to accrue after as well as before judgement).

 

		5	withholding and tax

 

		5.1	With reference to any payments made by the Seller under this Schedule:

 

		(a)	all payments so made by the Seller shall be made gross, free of any rights of counterclaim or set-off
and without any deductions or withholdings of any nature save for such deductions or withholdings as are required by law;

 

		(b)	if the Seller is required by law to make any deduction or withholding from any payment it shall
do so and the sum due in respect of such payment shall be increased to the extent necessary to ensure that after the making of
such deduction or withholding the Buyer receives and retains (free of any liability in respect of any such deduction or withholding)
a net sum equal to the sum which it would have received and retained had no such deduction or withholding been required to be made
(and after giving credit for any relief from or credit in respect of Tax available to the Buyer in respect of the deduction or
withholding or the matter giving rise to it except to the extent falling within paragraph (d) of the definition of Buyer's Relief);

 

		(c)	if any payment is subject to Tax in the hands of the Buyer the Seller shall within seven days notice
in writing being served on it by the Buyer pay to the Buyer such further amount or amounts as shall ensure that the net amount
received in respect of such payment after such Tax is the same as it would have been were the payment not subject to such Tax (and
after giving credit for any relief from or credit in respect of Tax available to the Buyer in respect of the payment or the matter
giving rise to the payment) except to the extent falling within paragraph (d) of the definition of Buyer's Relief.

 

		5.2	The Seller shall not be obliged to pay any additional amount under paragraph 5.1 in respect of
any deduction or withholding or any Tax to the extent such deduction, withholding or Tax arises as a result of the assignment by
the Buyer of the whole or any part of the benefit of this agreement.

 

		6	overprovisions, Savings AND REPAYMENTS

 

		6.1	If the Buyer becomes aware that there may have been an Overprovision or that the Target or a member
of the Buyer's Group has or may have obtained a Repayment or a Saving, the Buyer shall (or shall procure that the Target shall)
as soon as reasonably practicable, inform the Seller of that fact.

 

		6.2	The Seller may request (at the cost and expense of the Seller) that the Auditors determine whether
or not there has been any Overprovision, Repayment or Saving and the Buyer shall procure that the Auditors are instructed to provide
their determination as soon as practicable.

 

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		6.3	In carrying out the determination referred to in paragraph 6.2 the Auditors shall act as experts
and not as arbitrators and (in the absence of manifest error) their decision shall be final and binding on the parties to this
agreement.

 

		6.4	If the Auditors determine that there has been an Overprovision, Repayment or Saving then the amount
of the Overprovision, Repayment or Saving (the "Relevant Amount") is to be dealt with in accordance with this
paragraph 6.4:

 

		(a)	the Relevant Amount shall first be set off against any payment due from the Seller under the Tax
Covenant and/or for breach of any of the Tax Warranties;

 

		(b)	to the extent there is an excess of the Relevant Amount after any amounts have been set off under
paragraph 6.4(a), a refund shall be made to the Seller of any previous payment or payments made by the Seller under the Tax Covenant
and/or for breach of any of the Tax Warranties and not previously refunded under this paragraph 6.4(b) up to the amount of any
excess; and

 

		(c)	to the extent that the excess referred to in paragraph 6.4(b) is not exhausted under that paragraph,
the remainder of that excess shall be carried forward and set off against any future payment or payments which become due from
the Seller under the Tax Covenant or for breach of any of the Tax Warranties.

 

		6.5	Where any determination as is mentioned in paragraph 6.2 has been made, the Seller or the Buyer
may (at the expense of the party so requesting) instruct the Auditors to review that determination in the light of all relevant
circumstances, including any facts which have become known only since the determination, and to determine whether the determination
remains correct or whether, in the light of those circumstances, the amount that was the subject of the determination should be
amended.

 

		6.6	If the Auditors determine under paragraph 6.5 that an amount previously determined should be amended,
that amended amount shall be substituted for the purposes of paragraph 6.2 as the Relevant Amount in respect of the determination
in question in place of the amount originally determined, and any adjusting payment (if any) as may be required by virtue of the
above mentioned substitution shall be made as soon as reasonably practicable by the Seller or the Buyer as the case may be.

 

		6.7	The Buyer will procure that the Target uses any Relief available to it which would give rise to
a Repayment or Saving as soon as it is reasonably practicable for the Target to do so provided that the Target shall not be required
to use such Relief in preference to any other Relief that is available.

 

		7	recovery from other persons

 

		7.1	If:

 

		(a)	the Target or the Buyer is entitled to recover from any other person, (not being the Target but
including, without limitation, a Tax Authority) any sum in respect of any matter to which this Schedule relates or in respect of
the Tax Warranties; and

 

		(b)	the Seller has first agreed to indemnify the Buyer and the Target against all reasonable costs
which the Buyer and the Target may properly incur in connection with the taking of the following action,

 

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then the Buyer shall or shall procure
that the Target shall take all reasonable steps to enforce the recovery against the person in question (keeping the Seller fully
informed of the progress of any action taken) provided that neither the Buyer nor the Target shall be required to take any action
which would reasonably be expected to materially damage any of the Target's commercial relationships with a customer or supplier,
or otherwise give rise to any material financial loss to the Target.

 

		7.2	If the Target or the Buyer recovers from any third party any sum in respect of a liability for
which a claim could be or has been made against the Seller pursuant to this Schedule or for breach of the Tax Warranties an amount
equal to the amount so recovered together with any interest or repayment supplement thereon less the costs, fees and expenses incurred
in obtaining it (insofar as not reimbursed by the Seller) shall:

 

		(a)	if the Seller has at the time of the recovery made any payment pursuant to this Schedule or to
satisfy a claim for breach of the Tax Warranties, be paid within seven days to the Seller by the Buyer (provided that the amount
so paid to the Seller shall not exceed the amount of the payment made by the Seller pursuant to this Schedule or to satisfy a claim
for breach of the Tax Warranties);

 

		(b)	if any claim has been made by the Buyer pursuant to this Schedule but the Seller has not at any
time of the recovery made payment in respect thereof, be set against and reduce pro tanto the claim against the Seller.

 

		8	group relief

 

		8.1	The Seller may (at its own cost and expense), so far as legally possible, reduce or extinguish
any Tax Liability:

 

		(a)	by reallocating for nil consideration a chargeable gain or chargeable realisation gain or any part
of either such gain to any member of the Seller's Group under the provisions of section 792 CTA 2009;

 

		(b)	by electing for nil consideration under section 171A TCGA 1992 that a disposal of an asset by the
Target shall be treated as having been made by a member of the Seller's Group;

 

		(c)	by surrendering or procuring the surrender of Group Relief to the Target for nil consideration;
and

 

		(d)	by claiming for nil consideration to roll-over or reinvest any income, profits or gains of the
Target into the expenditure on replacement assets acquired by any member of the Seller's Group,

 

such that the Seller has no liability
under the Tax Covenant or for breach of any of the Tax Warranties in respect of the Tax Liability and any claim already made in
respect of the said Tax Liability is deemed for the purposes of this Schedule and this agreement never to have been made. For the
avoidance of doubt, the Seller shall remain liable under the Tax Covenant or in respect of the Tax Warranties to the extent that
such liability has not been reduced or extinguished by such valid reallocation, election, surrender or claim.

 

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		8.2	In relation to any Tax liability of the Target for which the Seller is not liable to make payment
under the Tax Covenant or for breach of any of the Tax Warranties but which is capable of being mitigated or eliminated by the
surrender of Group Relief:

 

		(a)	the Seller shall be entitled to surrender or to procure the surrender of Group Relief to the Target
from the Seller’s Group (to the maximum extent permitted by law); and

 

		(b)	the Buyer shall procure that the Target pays to the company making the surrender an amount equal
to 75% of the amount of Tax saved or capable of being saved by the Target by virtue of such surrender being validly and effectively
made, that payment to be made on the date on which the Target would have been obliged to make a payment of Tax but for the availability
of the Group Relief, provided that the provisions of this paragraph shall not have effect if and to the extent that payment in
respect of a surrender has already been made on or before Completion.

 

		8.3	The Buyer shall and shall procure that the Target shall use all reasonable endeavours to procure
that all relevant claims, elections and surrenders are made and all other actions are taken as are required to effect the surrender
and utilisation of the Group Relief referred to in this paragraph 8.

 

		8.4	The Seller shall and shall procure that the relevant member of the Seller's Group surrendering
Group Relief will, use all reasonable endeavours to procure that full effect is given to the claim, election or surrender to be
made under this paragraph 8 and that such claims, elections and surrenders are allowed in full by the relevant Tax Authority and
(without prejudice to the generality of the foregoing) the Seller shall, and shall procure that the relevant member of the Seller’s
Group surrendering Group Relief will, sign and submit to the relevant Tax Authority all such surrenders and other documents and
returns as may be necessary to secure that full effect is given to this paragraph.

 

		8.5	In the event that any payment is made in accordance with this clause in respect of any claim for
Group Relief made under this paragraph 8 and corporation tax falls nevertheless to be charged in respect of the taxable profits
that the relevant claim was intended to relieve from such Tax (whether as a result of the relevant Tax Authority refusing to allow
Group Relief or subsequently withdrawing Group Relief in respect of the relevant claim or for any other reason whatsoever), the
Seller shall procure that the company that is the surrendering company in respect of the claim in question shall forthwith repay
to the Target either the sum previously paid in respect of the relevant claim in accordance with this paragraph 8.2(b) or, as the
case may be, such part of that sum as is attributable to the element of the claim that did not have the effect of relieving from
corporation tax the taxable profits intended to be relieved by virtue of the claim.

 

		9	VAT GROUP

 

		9.1	The Seller confirms that the Representative Member (and for the purposes of this paragraph 9 the
definitions of "Representative Member" and “VAT Group” shall be the same as that set out in paragraph 10.1
of Part 2 of this Schedule) shall as soon as reasonably practicable apply to HM Revenue & Customs to exclude the Target from
the VAT Group and the Seller shall procure that the Representative Member shall use its reasonable endeavours to ensure the exclusion
of the Target from the VAT Group with effect from Completion and in any event from the earliest date on which HM Revenue &
Customs shall allow.

 

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		9.2	The Buyer undertakes to procure that the Target;

 

		(a)	provides to the Representative Member after Completion such documents, information and assistance
as it may reasonably require in writing to enable it to comply with its obligations in the making of VAT returns and accounting
for VAT to HM Revenue & Customs in respect of supplies or acquisitions made by the Target for VAT purposes in the prescribed
accounting period (as defined in section 25(1) VATA) current at Completion and in the event that the Target's exclusion from the
VAT Group takes effect after the end of that prescribed accounting period in respect of supplies or acquisitions made by the Target
in the next and any subsequent prescribed accounting period ("Relevant PAPs") in each case where they are, for
the purposes of section 43 VATA (groups of companies), treated as made by the Representative Member; and

 

		(b)	pays the Representative Member not less than two Business Days before the same is required to be
paid to HM Revenue & Customs an amount equal to any VAT for which the Representative Member has to account (or would have to
account but for any input tax credit or repayment of VAT due from HM Revenue & Customs in respect of actual supplies made to
the members of the VAT Group other than the Target) to HM Revenue & Customs in respect of the Relevant PAPs and which results
from supplies, deemed supplies, importations or acquisitions made by the Target in the Relevant PAPs but treated as made by the
Representative Member under section 43(1) VATA (groups of companies) and, in computing such amount of VAT, credit shall be given
to the Target for any input tax to which it is entitled under VATA on supplies, deemed supplies made to or importations or acquisitions
made by the Target in the Relevant PAP, but treated as made to or by the Representative Member.

 

		9.3	The Seller shall procure that the Representative Member shall properly and promptly comply with
its obligations referred to in paragraph 9.2(a) of this Part and account to HM Revenue & Customs for any amount in respect
of VAT paid by the Target pursuant to paragraph 9.2(b) of this Part and provide to the Buyer as soon as possible copies of the
VAT returns referred to in paragraph 9.2(a) of this Part and any relevant correspondence or documentation sent to or received from
HM Revenue & Customs in connection with any matter referred to in that paragraph.

 

		9.4	The Seller undertakes to procure the Representative Member to claim as soon as possible and to
pay to the Target an amount equal to any VAT which the Representative Member recovers (or would recover but for any payment due
to HM Revenue & Customs in respect of actual supplies made by the members of the VAT Group other than the Target) from HM Revenue
& Customs in respect of Relevant PAPs and which results from supplies or deemed supplies made to or importations or acquisitions
made by the Target in the Relevant PAPs but treated as made to the Representative Member under section 43(1) VATA (groups of companies).

 

		10	BUYER's COVENANT

 

		10.1	The Buyer hereby covenants with the Seller to pay the Seller an amount equal to any Tax for which
the Seller is or may be liable as a result of the application of section 710 or section 713 CTA 2010 (change in company ownership:
corporation tax) where the taxpayer company or the transferred company (as defined in section 710(1)(a) and section 713(1)(a) respectively)
is the Target together with any reasonable costs and expenses properly incurred by the Seller in connection with taking any successful
action under this paragraph but only in circumstances where the Tax is directly or primarily chargeable against or attributable
to the Target and arises:

 

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		(a)	in respect of income profits or gains earned, accrued or received in respect of any period after
Completion; or

 

		(b)	as a result of the failure of the Buyer or the Target to apply an amount provided for in the Management
Accounts or an amount relating to profits arising since the Management Accounts Date but prior to Completion in the ordinary course
of business of the Target or an amount paid by the Seller to the Buyer under this Schedule or to satisfy a claim for breach of
the Tax Warranties to discharge a liability to which the amount relates by the due date for such discharge.

 

		10.2	A payment to be made by the Buyer under this Schedule shall be made in cleared funds seven days
after written demand for such payment.

 

		10.3	Where the Buyer fails to make a payment in satisfaction of a liability under this Schedule by the
due date for payment, the liability of the Buyer shall be increased to include interest on such sum from the date on which the
Buyer becomes liable to make payment to the date of actual payment at a rate per annum being two per cent above the base rate from
time to time of Barclays Bank plc compounded monthly (such interest to accrue after as well as before judgement).

 

		10.4	Paragraphs 3 (Conduct of Claims) and 5 (Withholding and Tax) of Part 4 of this Schedule shall apply
to the covenants contained in this paragraph 10 as they apply to the covenants contained in Part 3 of this Schedule replacing references
to the Seller by the Buyer (and vice versa) and making any other necessary modifications.

 

		10.5	The Buyer confirms that there is no present intention for the Target to cease to be a trading company
within five Business Days of Completion.

 

		11	administration

 

		11.1	The Seller or its duly authorised agents shall prepare the accounts and corporation tax returns
of the Target for all accounting periods ending on or before Completion to the extent that the same have not been prepared before
Completion (the reasonable cost of which is borne by the Target) and the Buyer shall procure that the Target provides such access
to its books, accounts and records as is reasonable to enable the Seller or its duly authorised agents to prepare the documentation
and to deal with all matters relating thereto.

 

		11.2	Without prejudice to the Buyer's rights under this Schedule or in relation to the Tax Warranties,
the Buyer shall procure that the Target shall cause the accounts and returns mentioned in paragraph 11.1 of this Part so far as
it is legally able to do so to be authorised, signed and submitted to the appropriate authority with such reasonable amendments,
if any, as the Buyer may request and shall give the Seller or their agents all such assistance as may be reasonably required to
agree those returns with the appropriate Tax Authority provided that the Buyer shall not be obliged to procure the signing and
submitting of a document mentioned in paragraph 11.1 which it reasonably considers, to be materially false or inaccurate in any
respect.

 

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		11.3	The Seller shall ensure that all material written communications to the relevant Tax Authority
under this paragraph 11, are first sent to the Buyer (or its duly appointed tax advisers) as follows:

 

		(a)	in the case of corporation tax relief returns and computations at least twenty Business Days before
the due date for submission of the same; and

 

		(b)	in the case of all other communications at least ten Business Days before the due date for submission
of the same,

 

and the Seller shall incorporate
any reasonable comments of the Buyer.

 

		11.4	The Buyer shall ensure that all material written communications to the relevant Tax Authority in
respect of the accounting period in which Completion takes place are first sent to the Seller (or its duly appointed tax advisers)
as follows:-

 

		(a)	in the case of corporation tax returns and computations at least twenty Business Days before the
due date for submission of the same; and

 

		(b)	in the case of all other communications at least ten Business Days before the due date for submission
of the same,

 

and the Buyer shall consult with
the Seller regarding the contents of such communications and (without prejudice to the Buyer's rights under this Schedule or in
relation to the Tax Warranties) shall incorporate any reasonable comments of the Seller.

 

		11.5	The Seller shall use or shall procure that its agents use all reasonable expedition to ensure that
all the tax affairs of the Target conducted by the Seller or their agents under this paragraph are completed as soon as reasonably
possible and shall keep the Buyer and its duly authorised agents fully informed of all matters relating to the submission, negotiation
and agreement of the documents referred to in paragraph 11.1.

 

		11.6	The Seller shall provide to the Buyer and the Target such documents, assistance and information
(including, without limitation, access to books, accounts, personnel and records), as the Buyer may reasonably require in writing,
in connection with the preparation, submission, negotiation or agreement of any of the accounts and corporation tax returns of
the Target.

 

		11.7	The provisions of paragraph 3 shall apply in priority to the provisions of this paragraph 11.

 

		12	Corporation Tax Group Payment Arrangements

 

		12.1	The Seller shall ensure that the Target is as soon as reasonably practicable and with effect from
Completion removed from the group payment arrangement with HM Revenue and Customs under paragraph 79 of Schedule 7 to TIOPA.

 

		12.2	The Seller shall:

 

		(a)	procure that the nominated company (Nominated Company) for the purposes of any group payment
arrangement (GPA) made pursuant to section 36 Finance Act 1998 (GPA) of which the Target is a member on or before
Completion shall pay to HM Revenue and Customs an amount equal to any amount contributed to the Nominated Company by the Target
pursuant to the GPA in respect of any or any instalment of corporation tax (Contributed Amount) no later than the date on
which such corporation tax or instalment thereof is due and payable to HM Revenue and Customs;

 

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		(b)	procure that the Nominated Company shall promptly apportion to the Target each Contributed Amount,
such apportionment to be made by reference to the corporation tax or instalment or instalments of corporation tax in respect of
which the Contributed Amount was paid;

 

		(c)	not, and shall procure that the Nominated Company shall not, without the prior written approval
of the Buyer reapportion any amount previously apportioned to the Target pursuant to the GPA;

 

		(d)	promptly pay or procure that there is paid to the Target an amount equal to:

 

		(i)	the amount (if any) by which the Contributed Amount exceeds the liability of the Target to such
corporation tax or such instalment thereof; and

 

		(ii)	any interest received from HMRC in respect of such excess.

 

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Schedule
5

Pre-Completion Undertakings

 

		1	Positive undertakings

 

		1.1	Subject to paragraph 3, between
the date of this agreement and Completion the Seller will procure that:

 

		(a)	the business of each member of the Target Group is carried on as a going concern in the ordinary
and usual course as carried on prior to the date of this agreement;

 

		(b)	the Buyer (and its advisers) are given all reasonable access to the directors and senior employees
of each member of the Target Group and to inspect the books, records and documents (including all management information systems,
accounting records and contracts) of each member of the Target Group;

 

		(c)	the Buyer is provided with a copy of the monthly management accounts of the Target Group and such
other information relating to the Target Group that the Buyer reasonably requires;

 

		(d)	so far as it is reasonably able, nothing is done or allowed to be done which would result in a
material breach of any of the Warranties if that Warranty were repeated on or at any time before Completion by reference to the
facts and circumstances then existing (and without any additional disclosures against that Warranty being made). For the purposes
of this paragraph a material breach is one that would, entitle the Buyer to bring any claim or claims for a breach of any of the
Warranties if that Warranty were repeated on or at any time before Completion by reference to the facts and circumstances then
existing (and without any additional disclosures against that Warranty being made), with a value or cumulative value of £108,556
or more;

 

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		1.2	The Seller will procure that the Target Group has:

 

		(a)	at 20 February 2015 Working Capital (calculated consistently with the accounting policies used
in the Management Accounts) of at least £4,253,949 and will between 20 February 2015 and Completion manage the Working Capital
of the Target Group in the manner carried on prior to the date of this agreement; and

 

		(b)	at Completion at least £866,000 of cash in bank.

 

		2	Negative undertakings

 

Subject to paragraph 3, between the
date of this agreement and Completion, the Seller will procure that no member of the Target Group will, without the prior written
approval of the Buyer, do or agree, conditionally or otherwise, to do any of the following:

 

		(a)	modify any rights attaching to any of its shares or allow any changes to its articles of association;

 

		(b)	create any options or Security Interest over, or grant any rights to acquire, any of its shares
any part of its assets and undertakings;

 

		(c)	reduce its share capital, share premium account or capital redemption reserve or any other capital
account or reserve or redeem, purchase or otherwise acquire any of its shares or other securities;

 

		(d)	declare, pay or make any dividend or other distribution;

 

		(e)	create any Security Interest over any of its shares or over vary the terms of, terminate, breach
or waive the breach of, any material contracts to which it is a party;

 

		(f)	appoint or terminate the employment of any senior employee, or alter or permit any alterations
(including increases in emoluments) to be made to service agreements and/or terms of employment and/or contracts for services from
time to time of any senior employee or alter or permit any alterations (including increases in emoluments) to be made to the service
agreements and/or terms of employment and/or contracts for services of a material number of employees;

 

		(g)	establish any pension scheme or make any material change to any of its existing pension schemes
(whether as principal or participating employer) including any change in the basis of calculation of the level of contributions,
the amendment of benefits or entitlement to benefits or commence the winding-up any scheme;

 

		(h)	establish any share option scheme, any employee share scheme or any profit sharing or related scheme
or vary or discontinue any of the same or make any unscheduled payment in respect of the same or grant, exercise, cancel or surrender
any right granted under the same.

 

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		3	Exceptions

 

Nothing in this
Schedule shall be deemed to prevent the Seller and/or the Target from:

 

		(a)	to the extent there is cash in excess of £866,000 immediately before Completion (to the extent
lawfully able) paying a dividend of such excess to the Seller;

 

		(b)	(to the extent lawfully able) the transfer of Working Capital (by way of assignment of Receivables
or transfer of excess stock or similar) from the Target Group to any member of the Seller's Group to the extent they exceed those
figures set out in paragraph 1.2;

 

		(c)	effecting the impairment of the Intra-Group Non-Trading Balances pursuant to clause 6.6(f); or

 

		(d)	in the case of the Target, but not the Seller, issuing notices to Customers to change the terms
of their credit accounts, to start the process to remove any regulated consumer credit products from the Business and avoid the
need for Financial Conduct Authority approval. The credit accounts referred to in this paragraph are the credit facilities offered
by the Target to its distributors to spread the cost of product orders and sales material until such time as they receive payments
from their customers; and which facilities also enable the distributors to defer repayment over time through an interest bearing
account with a minimum weekly payment subject to a monthly interest charge on the balance outstanding.

 

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Schedule
6

Adjustments to the Consideration

 

		1	Adjustment

 

		1.1	The Consideration shall be adjusted in accordance with this Schedule 6. The Parties acknowledge
that the Consideration has been based on the Target Group having Actual LTM EBITDA which equals Benchmark LTM EBITDA.

 

		1.2	If Actual LTM EBITDA is:

 

		(a)	greater than the Benchmark LTM EBITDA the Buyer shall pay to the Seller an aggregate sum equal
to the amount by which the Actual LTM EBITDA exceeds the Benchmark LTM EBITDA, multiplied by 5; or

 

		(b)	less than Benchmark LTM EBITDA the Buyer shall be entitled to a reduction in the cash portion of
the Consideration payable equal to the CVSL Share Shortfall Amount, which shall be settled:

 

		(i)	by first utilising the sum standing to the credit of the Retention Account in accordance with the
provisions of clause 11; and

 

		(ii)	to the extent the amount standing to the credit of the Retention Account is insufficient ("Retention
Shortfall") by the subscription by the Seller, which the Seller hereby undertakes to do within 10 days of the Final Determination
Date, of such number of CVSL Shares at the Relevant CVSL Share Price as is equal to the Retention Shortfall.

 

For the avoidance
of doubt the provisions of this paragraph 1.2 do not reduce the aggregate Consideration payable

 

		1.3	If any payment is due to the Seller pursuant to paragraph 1.2, then the Buyer may elect to:

 

		(a)	satisfy some or all of such sum ("CVSL Share Excess Amount") through the issue
to the Seller of such number of CVSL Shares as is equal to the CVSL Share Excess Amount divided by the Relevant CVSL Share Price,
rather than paying in cash. Any such CVSL Shares shall be issued to the Seller on or before the tenth Business Day after the Final
Determination Date; and/or

 

		(b)	pay all or the balance of such payment in cash on or before the tenth Business Day after the Final
Determination Date.

 

		1.4	Any payment due from the Buyer to the Seller pursuant to paragraph 1.2 shall take effect as an
increase in the Consideration.

 

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		2	Agreement/determination

 

		2.1	The Buyer shall prepare and deliver a draft of the Completion Statement, or procure that the same
is prepared and delivered, to the Seller within 10 days after the Completion Date.

 

		2.2	The Completion Statement shall state the Actual LTM EBITDA, which
shall be calculated in accordance with paragraph 3.

 

		2.3	The Buyer shall grant to the Seller reasonable access to the books and records of the Target Group
to enable it to carry out a review of the Completion Statement and the financial data contained within it. The Seller shall, within
10 days starting on the day after the date of delivery of the draft Completion Statement to it (such period of 10 days being the
"Initial Period"), inform the Buyer whether or not it agrees with the draft Completion Statement. If:

 

		(a)	within the Initial Period, the Seller informs the Buyer in writing that it agrees with the draft
Completion Statement; or

 

		(b)	the Seller fails to inform the Buyer in writing whether or not it agrees with the draft Completion
Statement, the draft Completion Statement shall, irrevocably and for all purposes of this agreement, be deemed to have been agreed
by all of the Parties and the Actual LTM EBITDA stated in it shall be the Actual LTM EBITDA for all purposes of this agreement.

 

		2.4	If, within the Initial Period, the Seller informs the Buyer in writing that it is not prepared
to agree the draft Completion Statement, the provisions of paragraph 2.5 shall apply.

 

		2.5	Subject to paragraphs 2.3 and 2.4, the Buyer and the Seller shall have 20 days starting on
the day after the Seller informs the Buyer in writing that it is not prepared to agree the draft Completion Statement. If, within
such period ("Secondary Period"), the Seller and the Buyer agree the draft Completion Statement, as soon as such
agreement is reflected in the draft Completion Statement and the revised Completion Statement is agreed in writing, the draft Completion
Statement shall, irrevocably and for all purposes of this agreement, be deemed to have been agreed by the Seller and the Buyer
and the Actual LTM EBITDA stated in it shall be the Actual LTM EBITDA respectively for all purposes of this agreement. If, however,
they do not so agree the Completion Statement within the Secondary Period, the Seller or the Buyer may, at any time after the expiry
of the Secondary Period, refer the matter(s) in dispute (whether that be in relation to the Actual LTM EBITDA or any component
of any of it, any matter relating to the calculation of any of it, any other aspect of the draft Completion Statement or any other
matter whatsoever which is related or ancillary to any of the foregoing) ("Matter(s) in Dispute") to an independent
firm of chartered accountants appointed by agreement between the Seller and the Buyer or, in default of such agreement within 7
days after the expiry of the Secondary Period, to an independent firm of chartered accountants appointed by the President for the
time being of the Institute of Chartered Accountants in England & Wales or its successor body ("Expert") pursuant
to the procedure set out in the following sub-paragraphs of this paragraph 2.5 (this sentence and those sub-paragraphs being referred
to as the "Expert Determination Procedure" and such determination by the Expert being referred to as the "Expert
Determination"):

 

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		(a)	the Expert shall be, and shall have been, a Fellow of the Institute of Chartered Accountants for
not less than 15 years;

 

		(b)	the Expert Determination Procedure commences upon the first occasion when the Seller on the one
hand or the Buyer on the other hand, as the case may be ("Notifier(s)"), give(s) to the other ("Recipient(s)")
written notice (a "Referral Notice") requiring the referral of any Matter(s) in Dispute to Expert Determination
under this paragraph 2.5. The Referral Notice shall:

 

		(i)	be addressed to the Recipient(s);

 

		(ii)	refer to this paragraph 2.5;

 

		(iii)	identify the Matter(s) in Dispute with detail which is reasonably sufficient to enable the Recipient(s)
to understand and respond to the Matter(s) in Dispute; and

 

		(iv)	identify by name at least one, and not more than three, persons whom the Notifier proposes as the
Expert;

 

		(c)	the Recipient(s) shall, within five Business Days after the Referral Notice has been served upon
him, them or it:

 

		(i)	give written acknowledgement of receipt thereof; and

 

		(ii)	indicate concurrence with the appointment of one of the nominees as Expert, or propose at least
one, and not more than three, alternatives to hold such office;

 

		(d)	if the Seller and the Buyer agree the appointment of a person as Expert (whether or not a person
named by either of them pursuant to paragraph 2.5(b)(iv) or paragraph 2.5(c)(ii)), the Notifier shall immediately invite that person
to accept his appointment as Expert. If, within seven days after such agreement, the Notifier fails to invite that person to accept
such appointment, the Recipient(s) may invite that person to do so;

 

		(e)	if the Notifier does not receive the acknowledgement of receipt and indication or proposal referred
to in paragraph 2.5(c) within five Business Days after the service of the Referral Notice on the Recipient(s), the Notifier(s)
shall invite to be the Expert the person, or any one of the persons, identified as being proposed Expert(s) in the Referral Notice
in accordance with paragraph 2.5(b)(iv);

 

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		(f)	in default of appointment of an Expert pursuant to paragraph 2.5(d) or 2.5(e) within seven Business
Days after service of the Referral Notice, the Notifier(s) shall apply to the President for the time being of the Institute of
Chartered Accountants in England & Wales or its successor body. A nomination made by any person appointed by such President
(or the body or institution) to make nominations of experts shall be as valid as if made by such President himself. The Notifier(s)
shall use all reasonable endeavours to procure that a person so nominated (who shall not be the same person as, and who shall not,
unless the Seller and the Buyer agree otherwise, be a partner, employee or agent in or of the same firm of chartered accountants
as, any person proposed pursuant to paragraph 2.5(b)(iv) but rejected by the Recipient(s)) to be the Expert is appointed as the
Expert and is able to commence the appointment within fifteen Business Days after the giving of the Referral Notice. The ability
of any person to accept an appointment as the Expert, to commence that appointment immediately and to act in accordance with the
time limits set out in this paragraph 2.5 shall be an important factor in the selection of the Expert (whether by agreement of
the Seller and the Buyer or by presidential nomination) and the Seller and the Buyer shall use all reasonable endeavours to procure
compliance with this paragraph 2.5;

 

		(g)	any invitation to any person to accept his appointment as the Expert shall be accompanied by a
certified copy of this agreement;

 

		(h)	if a person who is invited to be the Expert in accordance with paragraph 2.5(d) or (e) or who is
nominated to be the Expert in accordance with paragraph 2.5(f) makes acceptance by him of his appointment as Expert conditional
upon acceptance of terms additional to those set out in this paragraph 2.5 ("Additional Terms"), he shall deliver
the Additional Terms to both the Seller and the Buyer within two Business Days after such conditional acceptance and the Seller
and the Buyer shall state in writing, within two Business Days after such delivery, whether or not they accept the Additional Terms
without amendment. If the Seller, the Buyer and such person fail to agree the Additional Terms within three Business Days after
delivery of them to the Seller and the Buyer, either:

 

		(i)	the Seller on the one hand or the Buyer on the other hand may require such person and the other(s)
to conduct the Expert Determination on the basis of this paragraph 2.5 and the Additional Terms without amendment; or

 

		(ii)	both the Seller and the Buyer may agree to seek the appointment of an alternative Expert.

 

No Expert shall be deemed to have been
appointed until he has delivered to each of the Seller and the Buyer written unconditional acceptance thereof, and his appointment
shall take effect from the date of such acceptance;

 

		(i)	whichever of the Seller on the one hand and the Buyer on the other hand appoints the Expert or
requests a presidential nomination in accordance with this paragraph 2.5 shall use all reasonable endeavours to procure that the
Expert confirms acceptance of the appointment in writing to both the Seller and the Buyer immediately upon acceptance of the appointment;

 

		(j)	following the acceptance of his appointment by the Expert:

 

    	76

    	 

    

  

		(i)	the Seller shall, within ten Business Days thereafter, make such written submission to the Expert
as it reasonably thinks fit and shall serve the same on the Expert and the Buyer;

 

		(ii)	within ten Business Days of such service, the Buyer shall make such written submission to the Expert
as it reasonably thinks fit and shall serve the same on the Expert and the Seller;

 

		(iii)	the Seller shall, within five Business Days thereafter, make such further written submission to
the Expert as it reasonably thinks fit and shall serve the same on the Expert and the Buyer;

 

		(iv)	within five Business Days after such service, the Buyer shall make such written further submission
to the Expert as it reasonably thinks fit and shall serve the same on the Expert and the Seller;

 

		(v)	the Seller and the Buyer shall each use all reasonable endeavours to co-operate with the Expert
to resolve the Matter(s) in Dispute and, for that purpose, shall provide to the Expert and to each other all such information and
documentation as the Expert and the other(s) shall reasonably require, including the giving to the Expert of such access to documents
and persons and such assistance as may be so required; and

 

		(vi)	for the avoidance of doubt, no action taken or decision or determination made by the Expert shall
prevent the Seller and the Buyer agreeing the Completion Statement or any Matter(s) in Dispute;

 

		(k)	the Expert shall, subject to paragraph 2.5(j), conduct his determination in such manner as he shall
in his sole and unfettered discretion see fit, provided that he acts impartially. All written communications to and from the Expert,
the Seller or the Buyer shall be copied to each of the other such persons, and the Expert shall not conduct any oral hearing or
otherwise discuss any Matter(s) in Dispute other than in the presence of both a Sellers' Representative and a representative of
the Buyer. The Expert may act inquisitorially and may take the initiative in ascertaining the facts and the law relevant to each
Matter in Dispute;

 

		(l)	the Expert shall act as expert and not as arbitrator;

 

		(m)	the Expert shall deliver a written, final Expert Determination within fifteen Business Days after
receipt by him of the submissions (if any) of the Buyer referred to in paragraph 2.5(j)(iv), or such longer period as the Seller
and the Buyer may agree in writing. The Expert may, with the consent of the Notifier, extend that period of fifteen Business Days
by not more than ten Business Days;

 

		(n)	the Expert Determination shall be reflected in the draft Completion Statement and:

 

		(i)	such draft Completion Statement shall, irrevocably and for all purposes of this agreement, be deemed
to have been agreed by all of the Parties and to constitute the Completion Statement;

 

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		(ii)	the Actual LTM EBITDA stated in it shall, irrevocably and for all purposes of this agreement, be
deemed to have been agreed by all of the Parties and the Actual LTM EBITDA stated in it shall be the Actual LTM EBITDA for all
purposes of this agreement; and

 

		(iii)	that Completion Statement shall, for all purposes of this agreement,
be the Completion Statement which has been "determined pursuant to paragraph 2 of Schedule
6";

 

		(o)	if the Expert dies, refuses to act or becomes incapable of acting, the Seller and the Buyer, acting
in accordance with this paragraph 2.5, may appoint another person to act as Expert, and any Expert so appointed shall conduct the
Expert Determination and the Expert Determination Procedure afresh;

 

		(p)	the Seller and the Buyer shall each bear their own costs and shall pay the fees, costs and expenses
of the Expert as to half by the Seller and half by the Buyer unless the Expert determines otherwise. The Expert may so determine
if:

 

		(i)	whichever of the Seller and the Buyer is ordered to pay any fees, costs or expenses acted (in the
opinion of the Expert) improperly, unreasonably or negligently in bringing or opposing the reference or in the manner in which
they, he or it conducted the reference; or

 

		(ii)	this agreement specifies that any costs, fees and expenses incurred in respect of an Expert Determination
should be borne other than equally;

 

		(q)	any Expert Determination shall be final and shall bind the Buyer and all of the Sellers except
in the case of fraud or manifest error; and

 

		(r)	if and to the extent that an Expert Determination made by any Expert appointed pursuant to this
paragraph 2.5:

 

		(i)	fails to decide any matter or issue referred to him;

 

		(ii)	creates an issue between the Seller and the Buyer as to the meaning or effect of the Expert Determination
due to any material omission, lack of clarity or ambiguity on the face of the Expert Determination; or

 

		(iii)	fails to decide any matter or issue not referred to him but which could properly have been referred
to him and, until it has been resolved, prevents, inhibits or delays the parties in complying with his Expert Determination,

 

either the Seller (acting jointly)
or the Buyer may apply to the Expert, within three calendar months after the date on which he made his Expert Determination, for
a determination of such matter or issue pursuant to this paragraph 2.5, provided that paragraphs 2.5(j)(i) to (iii) inclusive shall
not apply to such determination.

 

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		3	Basis of preparation of the Completion Statement

 

The Completion Statement shall be
prepared, and the Actual LTM EBITDA shall be prepared in the proforma set out in paragraph 4 of this schedule and will be prepared:

 

		(a)	by applying principles, bases, policies, practices, methodology, levels of materiality and categorisations
consistent in all respects with those applied in the preparation of the Management Accounts; and

 

		(b)	in accordance with GAAP.

 

		4	Proforma

 

 

    	79

    	 

    

  

Schedule
7

 

Working Capital

 

 

    	80

    	 

    

  

EXECUTED as a deed by 

 

for and on behalf of FINDEL PLC in the

presence of:

 

Witness

	Signature	:
	Name	:
	Occupation	:
	Address	:

 

EXECUTED as a deed by

for and on behalf of TRILLIUM POND AG

in the presence of:

 

Witness

	Signature	:
	Name	:
	Occupation	:
	Address	:

 

EXECUTED as a deed by

for and on behalf of CVSL Inc

in the presence of:

 

Witness

	Signature	:
	Name	:
	Occupation	:
	Address	:

 

    	81Exhibit 10.2

 

DATED          

 

Project Lake

 

(1) Express Gifts Limited

 

(2) Kleeneze Limited

 

SERVICE
LEVEL AGREEMENT

 

    	 

    	 

    

  

Contents

 

	1	Interpretation	4
	 	 	 
	2	Commencement and duration	11
	 	 	 
	3	Services	12
	 	 	 
	4	Operational Services	12
	 	 	 
	5	Service Levels	13
	 	 	 
	6	Effect of Customer's Defaults	13
	 	 	 
	7	Charging and invoicing	14
	 	 	 
	8	Governance	15
	 	 	 
	9	Supply chain	16
	 	 	 
	10	Audits	16
	 	 	 
	11	Change control	17
	 	 	 
	12	Key Personnel	17
	 	 	 
	13	Staff	17
	 	 	 
	14	Non-solicitation	17
	 	 	 
	15	IPRs	17
	 	 	 
	16	Grant of licences	18
	 	 	 
	17	IPR INDEMNITY	19
	 	 	 
	18	Data protection	19
	 	 	 
	19	Confidentiality	20
	 	 	 
	20	Security requirements	21
	 	 	 
	21	Warranties and representations	22
	 	 	 
	22	Compliance with Applicable Laws	22
	 	 	 
	23	Anti-bribery	22
	 	 	 
	24	Force majeure	23
	 	 	 
	25	Limitations on liability	23
	 	 	 
	26	RISK AND Insurance	24
	 	 	 
	27	Termination rights	25
	 	 	 
	28	Remediation Plan Process	26
	 	 	 
	29	General consequences of expiry and termination	27
	 	 	 
	30	Exit and service transfer	28
	 	 	 
	31	Dispute Resolution Procedure	29
	 	 	 
	32	expert determination	30
	 	 	 
	33	Assignment and novation	30
	 	 	 
	34	Variations	30

 

    	ii

    	 

    

  

	35	Waiver	30
	 	 	 
	36	No partnership or agency	31
	 	 	 
	37	Announcements	31
	 	 	 
	38	Severance	31
	 	 	 
	39	Further assurance	31
	 	 	 
	40	Entire agreement	31
	 	 	 
	41	Third party rights	32
	 	 	 
	42	Notices	32
	 	 	 
	43	Governing law	32
	 	 	 
	44	Jurisdiction	32
	 	 	 
	45	Counterparts	33
	 	 	 
	46	Rights and remedies	33
	 	 	 
	Schedule 1 Service Description	34
	 	 
	Schedule 2 Service Levels	41
	 	 
	Schedule 3 Customer's Responsibilities	43
	 	 
	Schedule 4 Charges	44
	 	 
	Schedule 5 Key Personnel	47
	 	 
	Schedule 6 Contract and Service Management	48
	 	 
	Schedule 7 Change Control Procedure	50
	 	 
	Schedule 8 Exit Plan and Service transfer arrangements	52
	 	 
	Schedule 9 Employees	56
	 	 
	APPENDIX 1 ACCOUNTING MONTHS	59

 

    	iii

    	 

    

  

THIS AGREEMENT is made the        
day of         2015

 

Parties:

 

		(1)	Express Gifts Limited a company registered in England under number 718151 whose registered office
is at 2 Gregory Street, Hyde, Cheshire, SK14 4TH (Supplier) and

 

		(2)	Kleeneze Limited a company registered in England under number 5801085 whose registered office is
at 2 Gregory Street, Hyde, Cheshire, SK14 4TH (Customer).

 

Background

 

		(A)	The Customer selected the Supplier as its exclusive supplier and the Customer and the Supplier
entered into negotiations regarding the provision of services to meet the Service Description.

 

		(B)	As a result of such negotiations, the Customer has agreed to purchase, and the Supplier has agreed
to supply, the Services on the terms and conditions of this agreement.

 

Agreed Terms

 

		1	Interpretation

 

		1.1	The definitions and rules of interpretation in this clause 1
apply throughout this agreement.

 

	"Accounting Month"	 	means each time period during the Term of 4 or 5 weeks (as applicable), the end date of each time period being determined by reference to Appendix 1 and the expression Accounting Monthly shall be construed accordingly.   
	"Applicable Law"	 	means the laws of England and Wales and the European Union and any other laws or regulations which apply to the provision of the Services.
	"Associated Company"	 	means any holding company from time to time of either party and any subsidiary from time to time of such party, or any subsidiary of any such holding company.
	"Authorised Recipients" 	 	means a party's employees, officers, representatives, advisers, sub-contractors and agents.
	"Average Earnings Index"	 	means the index of average earnings for private-sector earnings as published by the Office for National Statistics from time to time, or failing such publication, that other index as the parties may agree most closely resembles such index.
	"Background IPR"	 	means any and all IPRs that are owned by or licensed to either party and which are or have been developed independently of this agreement (whether prior to the Effective Date or otherwise).

 

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	"Change"	 	means any change to this agreement including to any of the Services.
	"Change Control Note"	 	means the written record of a Change agreed or to be agreed by the parties pursuant to the Change Control Procedure.
	"Change Control Procedure"	 	means the procedure for changing this agreement, as set out in Schedule 7.
	"Change Request"	 	means a written request (in the case of the Customer) or a recommendation (in the case of the Supplier) for a Change which is submitted by one party to the other pursuant to the Change Control Procedure.
	"Charges"	 	means the Operational Service Charges, the Transitional Assistance Service Charges and any other charges which may become due and payable pursuant to this agreement.
	"Confidential Information"	 	means any information, however conveyed or presented, that relates to the business, affairs, operations, customers, processes, budgets, pricing policies, product information, strategies, developments, trade secrets, know-how, personnel and suppliers of the disclosing party or its Associated Companies, together with all information derived by the receiving party from any such information and any other information clearly designated by a party as being confidential to it (whether or not it is marked "confidential"), or which ought reasonably be considered to be confidential.
	"Consents"	 	means all permissions, consents, approvals, certificates, permits, licences, agreements and authorities (whether statutory, regulatory, contractual or otherwise) necessary for the provision of the Services.
	"Contract Year"	 	means a period of 12 months, commencing on the Effective Date and/or each anniversary of the Effective Date.
	"Control"	 	means the beneficial ownership of more than 50% of the issued share capital of a company or the legal power to direct or cause the direction of the general management of the company, and controls, controlled and the expression change of Control shall be construed accordingly.
	"Customer's Data"	 	means any data (including any Personal Data relating to the staff, customers or suppliers of the Customer), documents, text, drawings, diagrams, images or sounds (together with any database made up of any of those), embodied in any medium, that are supplied to the Supplier by or on behalf of the Customer, or which the Supplier is required to generate, process, store or transmit pursuant to this agreement.

 

    	5

    	 

    

  

	"Customer's Group"	 	means the Customer, its ultimate holding company and all subsidiaries of its ultimate holding company.
	"Customer's Operational Services Manager"	 	means the person identified as such in  Schedule 5, or any replacement person appointed by the Customer pursuant to clause 12, being the person responsible for managing the Operational Services on behalf of the Customer.
	"Customer's Representatives"	 	means the person identified as such in Schedule 5, or any replacement person appointed by the Customer pursuant to clause 12, being the person responsible for managing the Customer's overall relationship with the Supplier.
	"Customer's Responsibilities"	 	means the responsibilities of the Customer as specified in Schedule 3.
	"Customer's Software"	 	means the software which is owned by the Customer, or any member of the Customer's Group, and which is to be used by the Customer in the context of the receipt of any of the Services.
	"Database"	 	means the compilation of any data supplied to the Supplier by, or on behalf of, the Customer or generated by the Supplier from any such data.
	"Data Controller"	 	has the meaning set out in the Data Protection Act 1998.
	"Data Processor"	 	has the meaning set out in the Data Protection Act 1998.
	"Data Protection Legislation"	 	means the Data Protection Act 1998, the Data Protection Directive (95/46/EC), the Regulation of Investigatory Powers Act 2000, the Telecommunications (Lawful Business Practice) (Interception of Communications) Regulations 2000 (SI 2000/2699), the Electronic Communications Data Protection Directive (2002/58/EC), the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI 2426/2003) and all applicable laws and regulations relating to the processing of personal data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner.
	"Data Subject"	 	has the meaning set out in the Data Protection Act 1998.
	"Default"	 	means any default of either party in complying with its obligations under this agreement.
	"Dispute"	 	means any dispute under this agreement.
	"Dispute Resolution Procedure"	 	means the dispute resolution procedure set out in clause 31.
	"Documentation"	 	
        means all technical specifications, user manuals,
        operating manuals, process definitions and procedures, and all such other documentation as:

        (a)       is
        required to be supplied by the Supplier to the Customer to enable it to use the Operational Services; and

 

    	6

    	 

    

  

	 	 	(b)      is required to be developed by the Supplier in order to provide the Services.
	"Effective Date"	 	means the date of “Completion” as defined in the Share Purchase Agreement between Findel PLC and Trillium Pond AG and CVSL Inc.
	"Employment Regulations"	 	means the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246) (as amended).
	"Exit Plan"	 	means the plan for the provision of the Transitional Assistance Services, which is to be developed by the parties pursuant to clause 30.
	"Expert"	 	means an expert appointed pursuant to clause 32.
	"Force Majeure Event"	 	means any cause affecting the performance by a party of its obligations under this agreement arising from acts, events, omissions or non-events beyond its reasonable control, including acts of God, riots, war, acts of terrorism, fire, flood, storm or earthquake and any disaster, epidemic or pandemic, industrial dispute, strikes, lock-outs, interruption or failure of any utility service. 
	"Good Industry Practice"	 	 means, in relation to any undertaking and any circumstances, the exercise of skill, diligence, prudence, foresight and judgement and the making of any expenditure that would reasonably be expected from a skilled person engaged in the same type of undertaking under the same or similar circumstances.
	"Insolvency Event"	 	
        means in respect of either party:

        (a)     other
        than for the purposes of a bona fide reconstruction or amalgamation, such party passing a resolution for its winding up, or a court
        of competent jurisdiction making an order for it to be wound up or dissolved, or that party being otherwise dissolved; or

        (b)    the
        appointment of an administrator of, or the making of an administration order in relation to, either party, or the appointment of
        a receiver or administrative receiver of, or an encumbrance taking possession of or selling, the whole or any part of the entity's
        undertaking, assets, rights or revenue; or

        (c)     that
        party entering into an arrangement, compromise or composition in satisfaction of its debts with its creditors or any class of them,
        or taking steps to obtain a moratorium, or making an application to a court of competent jurisdiction for protection from its creditors;
        or

        (d)     that
        party being unable to pay its debts, or being capable of being deemed unable to pay its debts, within the meaning of section 123
        of the Insolvency Act 1986; or

 

    	7

    	 

    

  

	 	 	(e)     that party entering into any arrangement, compromise or composition in satisfaction of its debts with its creditors.
	"IPRs"	 	means any and all intellectual property rights of any nature anywhere in the world whether registered, registrable or otherwise, including patents, utility models, trade marks, registered designs and domain names, applications for any of the foregoing, trade or business names, goodwill, copyright and rights in the nature of copyright, design rights, rights in databases, moral rights, know-how and any other intellectual property rights which subsist in computer software, computer programs, websites, documents, information, techniques, business methods, drawings, logos, instruction manuals, lists and procedures and particulars of customers, marketing methods and procedures and advertising literature, including the "look and feel" of any websites.
	"IPR Claim"	 	means any claim of infringement or alleged infringement (including the defence of such infringement or alleged infringement) of any IPRs used to provide the Services and licensed to the Supplier pursuant to Clause 16.1.
	"Key Personnel"	 	means those personnel identified Schedule 5 for the roles attributed to such personnel, as modified pursuant to clause 12.
	"Month"	 	unless stated otherwise, means a calendar month, and Monthly shall be interpreted accordingly.
	"Operational Service Charges"	 	means the charges which become due and payable by the Customer to the Supplier in respect of the Operational Services, which shall be calculated in accordance with Schedule 4.
	"Operational Services Managers"	 	means the Customer's Operational Services Manager and the Supplier's Operational Services Manager.
	"Operational Services"	 	means the operational services described as such in the Service Description.
	"Payment Plan"	 	means the plan for payment of the Charges as set out in Schedule 4.
	"Personal Data"	 	has the meaning set out in the Data Protection Act 1998.
	"Regulatory Bodies"	 	means those government departments and regulatory, statutory and other entities, committees and bodies which, whether under statute, rules or regulations are entitled by any Applicable Law to supervise, regulate, investigate matters dealt with in this agreement.

 

    	8

    	 

    

  

	"Remediation Notice"	 	means a written notice given by the Customer to the Supplier pursuant to clause 28.1 to initiate the Remediation Plan Process.
	"Remediation Plan"	 	means the plan agreed in accordance with clause 28 for the resolution of a Supplier's Default.
	"Remediation Plan Process"	 	means the process for resolving certain of the Supplier's Defaults as set out in clause 28.
	"Replacement Services"	 	means any services which are identical or substantially similar to any of the Services and which the Customer receives in substitution for any of the Services following the termination or expiry of this agreement, whether those services are provided by the Customer internally or by any Replacement Supplier.
	"Replacement Supplier"	 	means any third party supplier of Replacement Services appointed by the Customer from time to time.
	"Representatives"	 	means the Customer's Representatives and/or the Supplier's Representatives.
	"Retail Prices Index"	 	means the Retail Prices Index (All Items, excluding mortgages) as published by the Office for National Statistics from time to time, or failing such publication, that other index as the parties may agree most closely resembles such index.
	"Security Policy"	 	means the Supplier's security policy as updated from time to time.
	"Service Credits"	 	means the sums attributable to a Service Failure as specified in Schedule 4.
	"Service Description"	 	means the service description as set out in Schedule 1 as amended from time to time in accordance with the Change Control Procedure.
	"Service Failure"	 	means a failure by the Supplier to deliver any part of the Operational Services in accordance with the Service Levels.
	"Service Levels"	 	means the service levels to which the Operational Services are to be provided, as set out in Schedule 2.
	"Services"	 	means the services to be delivered by or on behalf of the Supplier under this agreement, including the Operational Services, and the Transitional Assistance Services and Service means any of the Services (or any part of any of them).
	"Supplier's Group"	 	means the Supplier, its ultimate holding company and all subsidiaries of its ultimate holding company.
	"Supplier's Operational Service Manager"	 	means the person identified as such in Schedule 5, or any replacement person appointed by the Supplier pursuant to clause 12 being the person responsible for managing the Operational Services on behalf of the Supplier.
	"Supplier's Personnel"	 	means all employees of the Supplier who are engaged in the provision of the Services from time to time.

 

    	9

    	 

    

  

	"Supplier's Premises"	 	means any premises in the possession or control of the Supplier or any sub-contractor from which the Services are delivered, in whole or in part or in which records relating to the Services are kept.
	"Supplier's Representative"	 	means the person identified as such in Schedule 5, or any replacement person appointed by the Supplier pursuant to clause 12, as the person responsible for managing the Supplier's overall relationship with the Customer.
	"Supplier's Software"	 	means the software which is owned by the Supplier, or any member of the Supplier's Group, and which is to be used by the Supplier in the context of the provision of any of the Services 
	"Term"	 	means the duration of this agreement as varied by the duration of the Termination Period (as relevant).
	"Termination Date"	 	means the date of expiry or termination of this agreement.
	"Termination Fee"	 	means the fee payable by the Customer in accordance with clause 29.4.
	"Termination Notice"	 	means any notice to terminate this agreement which is given by either party in accordance with clause 27.
	"Termination Period"	 	means the period of up to 3 months as specified in the Termination Notice pursuant to clause 27.1 during which period the Customer may require the Supplier to continue to provide the Services after a Termination Notice has been given.
	"Third Party Software"	 	means software which is proprietary to any third party.
	"Transferring Employees"	 	means those employees of the Supplier whose contract of employment will be transferred to the Customer or a Replacement Supplier pursuant to the Employment Regulations on expiry or termination of this agreement or part or otherwise.
	"Transitional Assistance Service Charges"	 	means the charges payable by the Customer to the Supplier for the provision of the Transitional Assistance Services, which shall be calculated in accordance with Schedule 4.
	"Transitional Assistance Services"	 	means the services to be provided by the Supplier to the Customer pursuant to clause 30 to facilitate the transfer of the Services to the Customer or a Replacement Supplier.
	"VAT"	 	means value added tax as provided for in the Value Added Tax Act 1994.
	"Working Day"	 	means Monday to Friday, excluding any public holidays in England and Wales.

 

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

 

		1.3	Unless the context otherwise requires, a reference to one gender shall include a reference to the
other genders.

 

    	10

    	 

    

  

		1.4	Clause, schedule and appendix headings shall not affect the interpretation of this agreement.

 

		1.5	References to clauses, schedules and appendices are, unless otherwise provided, references to the
clauses of and schedules and appendices to this agreement.

 

		1.6	A reference to a statute or statutory provision is a reference to it as it is in force for the
time being, taking account of any amendment, extension or re-enactment and includes any subordinate legislation for the time being
in force made under it.

 

		1.7	If there is any conflict or ambiguity between the clauses of this agreement and the schedules,
the conflict shall be resolved in accordance with the following order of precedence:

 

		(a)	the clauses;

 

		(b)	the schedules; and

 

		(c)	the appendices.

 

		1.8	Unless a right or remedy of a party is expressed to be an exclusive right or remedy, the exercise
of it by a party is without prejudice to that party's other rights and remedies.

 

		1.9	A reference to this agreement includes a reference to the schedules and appendices to this agreement.

 

		1.10	Holding company and subsidiary: mean a "holding company" and "subsidiary"
as defined in section 1159 of the Companies Act 2006 and a company shall be treated, for the purposes only of the membership requirement
contained in subsections 1159(1)(b) and (c), as a member of another company even if its shares in that other company are registered
in the name of (a) another person (or its nominee), whether by way of security or in connection with the taking of security, or
(b) its nominee.

 

		1.11	A reference to one gender shall include reference to the other genders.

 

		1.12	A person includes a corporate or unincorporated body (whether or not having separate legal
personality).

 

		1.13	Any phrase introduced by the words including, includes, in particular or for
example or similar shall be construed as illustrative and shall not limit the generality of the related general words.

 

		1.14	Writing or written includes faxes and e-mail.

  

		2	Commencement and duration

 

		2.1	This agreement shall take effect on the Effective Date and shall (subject to termination in accordance
with its terms) continue in force and effect until either party gives to the other party not less than 9 months' prior written
notice to terminate, such notice may only be served by a party on or after (but not before) the expiration of a period of 9 Months
from the Effective Date. The termination of the agreement by the Customer pursuant to this clause 2.1 is subject to the payment
in full of the Termination Fee (if applicable).

 

    	11

    	 

    

  

		3	Services

 

		3.1	The Customer appoints the Supplier as its sole and exclusive supplier of the Services, and the
Supplier shall provide the Services to the Customer pursuant to the terms and conditions of this agreement.  Furthermore,
and save as otherwise agreed within the terms of this Agreement or as otherwise consented to in writing by the Supplier, the Customer
shall not during the Term directly or indirectly appoint or engage or permit the appointment or engagement of any third party to
perform or perform itself services for the warehousing, fulfilment, and dispatch and return of goods for the Customer's distribution
network in the UK and Ireland. Notwithstanding the foregoing, but subject to the obligation on the Customer to allow the Supplier
to first propose terms to the Customer as set out in Schedule 1, the Customer is free to appoint third parties to provide or provide
to itself any Services required in excess of the maximum capacity limits as set out in Schedule 1.

 

		3.2	In providing each of the Services, the Supplier shall at all times:

 

		(a)	provide the Services in accordance with Good Industry Practice;

 

		(b)	provide the Services in accordance with all Applicable Laws;

 

		(c)	obtain, maintain and comply with all Consents;

 

		(d)	allocate sufficient resources to provide the Services in accordance with the terms of this agreement;

 

		(e)	ensure that any of the Supplier's Personnel who are engaged in the provision of any of the Services
shall, if required by the Customer, attend such meetings at the premises of the Customer or elsewhere as may be reasonably required
by the Customer; and

 

		(f)	provide such reasonable co-operation and information in relation to the Services to such of the
Customer's other suppliers as the Customer may reasonably require for the purposes of enabling any such person to create and maintain
any interfaces that the Customer may reasonably require.

 

		3.3	The Customer shall at all times comply with the Customer's Responsibilities.

 

		4	Operational Services

 

		4.1	The Supplier shall provide the Operational Services to the Customer from the Effective Date.

 

		4.2	The Supplier shall ensure that each of the Operational Services meets and satisfies the Service
Description.

 

		4.3	In the event of the Supplier's failure to provide any of the Operational Services, the Customer
may, without prejudice to its other rights, require the Supplier to re-perform the applicable Operational Services.

 

    	12

    	 

    

  

		5	Service Levels

 

		5.1	The Supplier shall ensure that the Operational Services meet or exceed the Service Levels at all
times from the Effective Date.

 

		5.2	The Supplier shall provide the Customer with a monthly report detailing its performance in respect
of each of the Service Levels.

 

		5.3	Subject to the limit set out in clause 25.2(a), the Supplier shall automatically credit the Customer
with the applicable Service Credits. Service Credits shall be shown as a deduction from the amount due from the Customer to the
Supplier in the next invoice then due to be issued under this agreement. The parties agree that any such Service Credits have been
calculated as, and are, a genuine pre-estimate of the loss likely to be suffered by the Customer.

 

		5.4	The Operational Services Managers shall have regular monthly meetings to monitor and review the
performance of this agreement, the achievement of the Service Levels and the provision of the Services. Such meetings shall be
minuted by the Customer's Operational Services Manager and copies of those minutes shall be circulated to and approved by both
parties.

 

		5.5	Prior to each monthly meeting, the Customer's Operational Services Manager shall notify the Supplier's
Operational Services Manager, and vice versa, of any problems relating to the provision of the Operational Services for discussion
at the monthly meeting. Without prejudice to the procedure at clause 28, at the meeting the parties shall agree a plan to address
such problems. Progress in implementing the plan shall be included in the agenda for the next monthly meeting.

 

		5.6	A review meeting to assess the performance of the Supplier in the delivery of the Operational Services
shall be held at 3-monthly intervals throughout the Term. Each meeting shall be attended by senior representatives of the Customer
and of the Supplier, together with the Operational Services Managers.

 

		5.7	The Customer and the Supplier shall review the Service Levels every 3 months throughout the Term
and make any changes in accordance with the Change Control Procedure to reflect changes in the Service Description.

 

		6	Effect of Customer's Defaults

 

		6.1	If the Supplier would have provided, or procured the provision of, the Operational Services in
accordance with the Service Levels or this agreement, but has failed to do so as a result of a Customer's Default, the Supplier
shall, subject to the provisions of clause 6.2, have the rights and relief set out in clause 6.3(b).

 

		6.2	The Supplier shall be required to notify the Customer as soon as reasonably practicable after it
considers that a Customer's Default has arisen which is having, or which is likely to have, an adverse impact on the ability of
the Supplier to deliver the Operational Services. If the Supplier fails to notify the Customer of the Customer's Default as soon
as reasonably practicable, the Supplier may only benefit from the provisions of clause 6.3(b) from the Working Day which precedes
the Working Day on which it notifies the Customer of the Customer's Default.

 

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		6.3	The Supplier shall:

 

		(a)	use reasonable endeavours to continue to provide the affected Operational Services in accordance
with this agreement but shall not otherwise be liable for any failure to provide or late provision of the Operational Services;
and

 

		(b)	be entitled to be paid for the provision of the Operational Services which have been affected by
the Customer's Default together with any costs incurred which directly relate to such Customer's Default.

 

		6.4	The Customer may challenge any notice received from the Supplier pursuant to clause 6.2 if it believes,
in its reasonable opinion, that the alleged Customer's Default should not prevent the Supplier from performing the Operational
Services in accordance with the Service Levels and this agreement. Any resulting disputes regarding the occurrence or impact of
a Customer's Default which cannot be resolved within 30 Working Days may be referred by either party for resolution in accordance
with the Dispute Resolution Procedure.

 

		7	Charging and invoicing

 

		7.1	In consideration of the provision of the Services by the Supplier, the Customer shall pay the Charges
to the Supplier in accordance with the Payment Plan.

 

		7.2	The Supplier shall invoice the Customer for payment of the Charges at the time the Charges are
expressed to be payable in accordance with the Payment Plan. All invoices shall be directed to the Customer's Representative. Any
such invoices shall take into account any Service Credits which have been accrued in the previous period.

 

		7.3	The Customer shall pay the Charges which have become payable in accordance with the Payment Plan
within 30 days of receipt of an undisputed invoice from the Supplier (Due Date).

 

		7.4	The Supplier may, however, increase the Operational Service Charges:

 

		(a)	on an annual basis with effect from 1 January each year in line with:

 

		(i)	the higher of the percentage increase in the Retail Prices Index or the Average Earnings Index
in the preceding 12-month period and the Supplier shall notify the Customer of all such increases (based on such index data available
at the time of notification) by 31 December of the year prior to the increase taking effect. Promptly upon the Retail Prices Index
and Average Earnings Index data being publicly available for each month of the proceeding 12-month period, the Supplier shall affirm
or adjust in writing the price increase as previously notified and to the extent an adjustment is made this adjustment shall be
back-dated to apply from 1 January and any over- payments or under-payments shall be addressed in the next invoice; and

 

		(ii)	any increase in costs to the Supplier due to increases in lease and property costs relating to
any premises or site used by the Supplier in the performance of the Operational Services; and

 

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		(b)	notwithstanding Clause 22, upon not less than 30 days’ prior written notice in line with
any increase in costs to the Supplier in performing the Operational Services as a result of any change to Applicable Laws.

 

		7.5	If the Customer receives an invoice which it reasonably believes includes a sum which is not valid
and properly due:

 

		(a)	the Customer shall notify the Supplier in writing as soon as reasonably practicable and in any
event within 7 days of receipt of invoice;

 

		(b)	the Customer's failure to pay the disputed Charges shall not be deemed to be a breach of this agreement;

 

		(c)	the Customer shall pay the balance of the invoice which is not in dispute by the Due Date;

 

		(d)	to the extent that the Customer is obliged, following resolution of the dispute, to pay an amount,
then the Supplier may charge interest at the current statutory interest rate from the original Due Date until the date of payment;

 

		(e)	to the extent that the Supplier is obliged to refund an amount to the Customer, interest shall
be added to that amount at the current statutory interest rate; and

 

		(f)	once the dispute has been resolved, where either party is required to make a balancing payment,
it shall do so within 7 Working Days and, where the Supplier is required to issue a credit note, it shall do so within 30 Working
Days.

 

		7.6	The Supplier shall maintain complete and accurate records of, and supporting documentation for,
all amounts which may be chargeable to the Customer pursuant to this agreement. Such records shall be retained for inspection by
the Customer for 2 years from the end of the Contract Year to which the records relate.

 

		7.7	Except as otherwise provided, the parties shall each bear their own costs and expenses incurred
in respect of compliance with their obligations under this agreement.

 

		7.8	All sums payable by either party under this agreement shall be paid in sterling.

 

		7.9	The Charges are stated exclusive of VAT, which shall be added at the prevailing rate as applicable
and paid by the Customer following delivery of a valid VAT invoice.

 

		7.10	Neither party shall retain, deduct or set off any sums owed to it by the other party which have
fallen due and payable against any sums due to the other party under this agreement or any other agreement or arrangement.

 

		8	Governance

 

The parties agree to manage this
agreement through the governance structure more specifically detailed in Schedule 6.

 

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		9	Supply chain

 

		9.1	The Supplier may sub-contract (in whole or in part) any part of the Services and, upon written
request, shall inform the customer of the identity of any sub-contractors and the nature of any obligations sub-contracted.

 

		9.2	Despite its right to sub-contract pursuant
to this clause 9, the Supplier shall remain responsible for all
acts and omissions of its sub-contractors and the acts and omissions of those employed or engaged by the sub-contractors as if
they were its own. An obligation on the Supplier to do, or to refrain from doing, any act or thing shall include an obligation
on the Supplier to procure that its employees, staff and agents and sub-contractors' employees, staff and agents also do, or refrain
from doing, such act or thing.

 

		10	Audits

 

		10.1	The Supplier shall allow the Customer and its auditors to access any of the relevant Supplier's
premises, personnel and relevant records as may be reasonably required but no more than twice per Contract Year (save for any audits
undertaken in respect of a suspected fraud) in order to:

 

		(a)	fulfil any legally enforceable request by any Regulatory Body; or

 

		(b)	undertake verifications of the accuracy of the Charges or identify suspected fraud; or

 

		(c)	undertake verification that the Services are being provided and all obligations of the Supplier
are being performed in accordance with this agreement.

 

		10.2	The Customer shall ensure that the conduct of each audit does not unreasonably disrupt the Supplier
or delay the provision of the Services by the Supplier and that, where possible, individual audits are co-ordinated with each other
to minimise any disruption.

 

		10.3	Subject to the Customer's obligations of confidentiality, the Supplier shall provide the Customer
(and its auditors and other advisers) with all reasonable co-operation, access and assistance in relation to each audit.

 

		10.4	The Customer shall provide at least 10 Working Days' notice of its intention to conduct an audit
unless such audit is conducted in respect of a suspected fraud, in which event no notice shall be required.

 

		10.5	The parties shall bear their own costs and expenses incurred in respect of compliance with their
obligations under this clause 10.

 

		10.6	If an audit identifies that:

 

		(a)	the Customer has overpaid any Charges, the Supplier shall pay to the Customer the amount overpaid
within 30 days from the date of receipt of an invoice or notice to do so; and

 

		(b)	the Customer has underpaid any Charges, the Customer shall pay to the Supplier the amount of the
under-payment within 30 days from the date of receipt of an invoice for such amount.

 

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		11	Change control

 

Any requirement
for a Change shall be subject to the Change Control Procedure.

 

		12	Key Personnel

 

		12.1	Each party shall appoint the persons named as such in Schedule 5 as the individuals who shall be
responsible for the matters allocated to such Key Personnel. The Key Personnel shall be those people who are identified by each
party as being key to the success of the operation of the Services and who shall be retained as far as reasonably practicable on
the operation of the Services for such time as a person is required to perform the role which has been allocated to the applicable
Key Personnel. The Key Personnel shall have the authority to act on behalf of their respective party on the matters for which they
are expressed to be responsible.

 

		12.2	The Supplier shall inform the Customer of the identity and background of any replacements for any
of the Key Personnel as soon as a suitable replacement has been identified.

 

		12.3	Each party shall ensure that the role of each of its Key Personnel is not vacant (in terms of a
permanent representative) for more than 120 Working Days. Any replacement shall be as, or more, qualified and experienced as the
previous incumbent and fully competent to carry out the tasks assigned to the Key Personnel whom he or she has replaced. A temporary
replacement shall be identified with immediate effect from the Supplier or the Customer becoming aware of the role becoming vacant.

 

		13	Staff

 

		13.1	Both parties shall comply with the provisions of Schedule 9.

 

		14	Non-solicitation

 

		14.1	Except in respect of any transfer of staff pursuant to Schedule 9, neither party shall (except
with the prior written consent of the other party) directly or indirectly solicit or entice away (or attempt to solicit or entice
away) from the employment of the other party any person employed or engaged by such other party or (in the case of the Supplier
by an Associated Company) in the provision or receipt of the Services at any time during the Term or for a further period of 12
months after the termination of this agreement other than by means of a national advertising campaign open to all comers and not
specifically targeted at any of the staff of the other party.

 

		14.2	If either the Supplier or the Customer commits any breach of clause 14.1, the breaching party shall,
on demand, pay to the claiming party a sum equal to one year's basic salary or the annual fee that was payable by the claiming
party to that employee, worker or independent contractor plus the recruitment costs incurred by the claiming party in replacing
such person.

 

		15	IPRs

 

		15.1	Subject to clause 16:

 

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		(a)	the Customer shall not acquire any right, title or interest in or to the IPRs of the Supplier or
its licensors, including:

 

		(i)	the IPRs relating to the Supplier's Software;

 

		(ii)	the IPRs relating to the Third Party Software licensed to the Supplier; and

 

		(iii)	the IPRs relating to the Supplier's documentation, processes and procedures;

 

		(iv)	the IPRs relating to the Supplier's know-how; and

 

		(v)	the Supplier's Background IPRs.

 

		(b)	the Supplier shall not acquire any right, title or interest in or to the IPRs of the Customer or
its licensors, including:

 

		(i)	the IPRs relating to the Customer's Software;

 

		(ii)	the IPRs relating to the Third Party software licensed to the Customer;

 

		(iii)	the IPRs relating to the Customer's documentation, processes and procedures;

 

		(iv)	the IPRs relating to the Customer's know-how;

 

		(v)	the IPRs relating to the Customer's Data;

 

		(vi)	the IPRs relating to the Database; and

 

		(vii)	the Customer's Background IPRs.

 

		15.2	Where either party acquires, by operation of law, title to IPRs of the other referred to in clause
15.1, and this acquisition is inconsistent with the allocation of title set out in that clause 15.1, such IPRs shall be assigned
by it to the other party on the request of the other party, whenever that request is made.

 

		16	Grant of licences

 

		16.1	The Customer hereby grants to the Supplier a royalty-free, non-exclusive, non-transferable licence
during the Term to use:

 

		(a)	the Customer's names, logos and trade marks;

 

		(b)	the Customer's documentation, processes and procedures; and

 

		(c)	the Customer's Data and the Database,

 

including the
right to grant sub-licences to its sub-contractors, provided that any relevant sub-contractor has entered into a confidentiality
undertaking with the Supplier.

 

		16.2	The licence granted in clause 16.1 is granted solely to the extent necessary for performing the
Services. The Supplier shall not use the licensed materials for any other purpose.

 

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		16.3	In the event of the termination or expiry of this agreement, the licences referred to in clause
16.1 shall terminate automatically and the Supplier shall deliver to the Customer all material licensed to the Supplier pursuant
to clause 16.1 in its possession or control.

 

		17	IPR INDEMNITY

 

		17.1	The Customer shall, at all times during and after the Term, indemnify the Supplier and keep the
Supplier indemnified against all losses, damages, costs or expenses and other liabilities (including legal fees) incurred by, awarded
against or agreed to be paid by the Supplier arising from any IPR Claim except to the extent that such liabilities have resulted
directly from the Supplier’s failure to properly observe its obligations under clause 17.2.

 

		17.2	The Supplier shall:

 

		(a)	notify the Customer in writing of any IPR Claim;

 

		(b)	allow the Customer to conduct all negotiations and proceedings and provide the Customer with such
reasonable assistance as is required by the Customer, each at the Customer's cost, regarding the IPR Claim; and

 

		(c)	not, without prior consultation with the Customer, make any admission relating to the IPR Claim
or attempt to settle it, provided that the Customer considers and defends any IPR Claim diligently, using competent counsel and
in such a way as not to bring the reputation of the Supplier into disrepute.

 

		18	Data protection

 

		18.1	In so far as the Supplier processes any Personal Data on behalf of the Customer, the Supplier shall:

 

		(a)	process the Personal Data only on behalf of the Customer (or, if so directed by the Customer, other
members of the Customer's Group), only for the purposes of performing this agreement or otherwise only in accordance with instructions
contained in this agreement or received from the Customer from time to time;

 

		(b)	not otherwise modify, amend or alter the contents of the Personal Data;

 

		(c)	at all times comply with the provisions of the Seventh Data Protection Principle set out in Schedule
1 of the Data Protection Act 1998 and implement appropriate technical and organisational measures to protect the Personal Data
against unauthorised or unlawful processing and against accidental loss, destruction, damage, alteration or disclosure;

 

		(d)	take reasonable steps to ensure the reliability of any of the Supplier's Personnel who have access
to the Personal Data;

 

		(e)	notify the Customer (within five Working Days) if it receives:

 

		(i)	a request from a Data Subject to have access to that person's Personal Data; or

 

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		(ii)	a complaint or request relating to the Customer's obligations under the Data Protection Legislation;
or

 

		(iii)	any other communication relating directly or indirectly to the processing of any Personal Data
in connection with this agreement;

 

		(f)	provide the Customer with co-operation and assistance in relation to any complaint or request made
in respect of any Personal Data, including by:

 

		(i)	providing the Customer with full details of the complaint or request;

 

		(ii)	complying with a data access request within the relevant timescales set out in the Data Protection
Legislation;

 

		(iii)	providing the Customer with any Personal Data it holds in relation to a Data Subject making a complaint
or request within the timescales required by the Customer; and

 

		(iv)	providing the Customer with any information reasonably requested by the Customer; and

 

		(g)	not transfer Personal Data outside the European Economic Area without the prior written consent
of the Customer and, where the Customer consents to such transfer, to comply with:

 

		(i)	the obligations of a Data Controller under the Eighth Data Protection Principle set out in Schedule
1 of the Data Protection Act 1998 by providing an adequate level of protection to any Personal Data that is transferred; and

 

		(ii)	any reasonable instructions notified to it by the Customer.

 

		18.2	The Customer acknowledges that the Supplier is reliant on the Customer alone for direction as to
the extent the Supplier is entitled to use and process the Personal Data. Consequently, the Supplier shall be entitled to relief
from liability in circumstances where a Data Subject makes a claim or complaint with regards to the Supplier's actions to the extent
that such actions directly result from instructions received from the Customer or the Supplier otherwise acting in accordance with
the terms of this agreement.

 

		19	Confidentiality

 

		19.1	Except to the extent set out in this clause 19, or where disclosure is expressly permitted elsewhere
in this agreement, each party shall:

 

		(a)	treat the other party's Confidential Information as confidential; and

 

		(b)	not disclose the other party's Confidential Information to any other person without the owner's
prior written consent.

 

		19.2	Clause 19.1 shall not apply to the extent that:

 

		(a)	such information was in the possession of the party making the disclosure, without obligation of
confidentiality, prior to its disclosure; or

 

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		(b)	such information was obtained from a third party without an obligation of confidentiality; or

 

		(c)	such information was already in the public domain at the time of disclosure otherwise than through
a breach of this agreement; or

 

		(d)	such information was independently developed without access to the other party's Confidential Information.

 

		19.3	A party may only disclose the Confidential Information of the other party to those of its Authorised
Recipients who are involved in the provision or receipt of the Services and who need to know the information provided that it informs
those Authorised Recipients of the Confidential nature of the Confidential Information before disclosure and remains liable for
the Authorised Recipients' compliance with the confidentiality obligations set out in this agreement.

 

		19.4	A party shall not use any of the Confidential Information of the other party received otherwise
than for the purposes of this agreement.

 

		19.5	Subject to Clause 37.1, a party may disclose the Confidential Information of the other party to
the extent such Confidential Information is required to be disclosed by law, by any Regulatory Body or by a court or other authority
of competent jurisdiction.

 

		19.6	Nothing in this clause 19 shall prevent either party from using any techniques, ideas or know-how
gained during the performance of this agreement in the course of its normal business to the extent that this use does not result
in a disclosure of the other party's Confidential Information or an infringement of IPRs.

 

		19.7	On the Termination Date, each party shall:

 

		(a)	return to the other party all documents and materials (and any copies) containing the other party's
Confidential Information;

 

		(b)	erase all the other party's Confidential Information from computer and communications systems and
devices used by it, including such systems and data storage services provided by third parties (to the extent technically practicable),

 

provided that
a recipient party may retain documents and materials containing the other party's Confidential Information to the extent required
by law or any applicable Regulatory Body or for internal audit and record keeping purposes. The provisions of this clause shall
continue to apply to any such documents and materials retained by a recipient party.

 

		19.8	Except as expressly stated in this agreement, no party makes any express or implied warranty or
representation concerning its Confidential Information.

 

		20	Security requirements

 

		20.1	The Supplier shall comply with the Security Policy.

 

		20.2	Each party shall advise the other as soon as it becomes aware of any breach, or potential breach,
of the Security Policy or any other breach, or potential breach, of security which may adversely affect the Services.

 

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		21	Warranties and representations

 

		21.1	Each party warrants, represents and undertakes that:

 

		(a)	it has full capacity and authority to enter into and to perform this agreement;

 

		(b)	this agreement is executed by a duly authorised representative of that party;

 

		(c)	there are no actions, suits or proceedings or regulatory investigations pending or, to that party's
knowledge, threatened against or affecting that party before any court or administrative body or arbitration tribunal that might
affect the ability of that party to meet and carry out its obligations under this agreement;

 

		(d)	once duly executed, this agreement will constitute its legal, valid and binding obligations;

 

		(e)	its Representative shall be authorised to carry out the matters for which they are expressed to
be responsible in Schedule 5.

 

		21.2	Both parties agree that the terms and warranties set out in this agreement are in lieu of and exclude
all other terms, conditions or warranties implied by statute, law or otherwise as to the merchantability, satisfactory quality
of fitness for any particular purpose of the Services to the fullest extent permitted by law.

 

		22	Compliance with Applicable Laws

 

		22.1	The Supplier shall at all times carry out and provide the Services in compliance with all Applicable
Laws. The Supplier shall maintain such records as are necessary pursuant to such Applicable Laws and shall promptly on request
make them available for inspection by any Regulatory Body that is entitled to inspect them and by the Customer (or its authorised
representative).

 

		22.2	The Supplier shall consult with the Customer (and wherever possible agree with the Customer) on
the manner, form and timing of changes it proposes to make to meet any changes in Applicable Laws where they would impact the Services
or Service Charges but subject to Clause 22.4 shall not be required to obtain the Customer's prior written agreement to implement
any change required to ensure that the Services are performed in compliance with any changes to Applicable Laws.

 

		22.3	Any change which impacts any of the Services including the Service Levels shall be documented in
accordance with the Change Control Procedure.

 

		22.4	Without prejudice to the rest of this clause 22, the Supplier shall use reasonable endeavours to
minimise any disruption caused by any changes in Applicable Laws introduced pursuant to this clause 22.

 

		23	Anti-bribery

 

		23.1	The Supplier shall :

 

		(a)	comply with all applicable laws, statutes, regulations relating to anti-bribery and anti-corruption,
including the Bribery Act 2010;

 

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		(b)	promptly report to the Customer any request or demand for any undue financial or other advantage
of any kind received by the Supplier in connection with the performance of this agreement;

 

		(c)	have and shall maintain in place throughout the term of this agreement its own policies and procedures,
including adequate procedures under the Bribery Act 2010, to ensure compliance with the Bribery Act 2010 and will enforce them
where appropriate.

 

		24	Force majeure

 

		24.1	Subject to the remaining provisions of this clause 24, neither party to this agreement shall in
any circumstances be liable to the other for any delay or non-performance of its obligations under this agreement to the extent
that such non-performance is due to a Force Majeure Event.

 

		24.2	In the event that either party is delayed or prevented from performing its obligations under this
agreement by a Force Majeure Event, such party shall:

 

		(a)	give notice in writing of such delay or prevention to the other party as soon as reasonably possible,
stating the commencement date and extent of such delay or prevention, the cause thereof and its estimated duration;

 

		(b)	use reasonable endeavours to mitigate the effects of such delay or prevention on the performance
of its obligations under this agreement; and

 

		(c)	resume performance of its obligations as soon as reasonably possible after the removal of the cause
of the delay or prevention.

 

		24.3	As soon as practicable following the affected party's notification, the parties shall consult with
each other in good faith and use all reasonable endeavours to agree appropriate terms to mitigate the effects of the Force Majeure
Event and to facilitate the continued performance of this agreement.

 

		24.4	The affected party shall notify the other party as soon as practicable after the Force Majeure
Event ceases or no longer causes the affected party to be unable to comply with its obligations under this agreement. Following
such notification, this agreement shall continue to be performed on the terms existing immediately prior to the occurrence of the
Force Majeure Event unless agreed otherwise by the parties.

 

		24.5	The Customer may, during the continuance of any Force Majeure Event, terminate this agreement in
accordance with clause 27.2 in the circumstances set out in that clause.

 

		25	Limitations on liability

 

		25.1	Neither party limits its liability for:

 

		(a)	death or personal injury caused by its negligence, or that of its employees, agents or sub-contractors;
or

 

		(b)	fraud by it or its employees; or

 

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		(c)	any other act or omission, liability for which may not be limited under Applicable Law; or

 

		(d)	a deliberate breach of this agreement.

 

		25.2	Subject to clause 25.1, the Supplier's total aggregate liability:

 

		(a)	in respect of Services Credits, is limited, in each Contract Year, to 20% of the Operational Service
Charges that are payable by the Customer in the applicable Contract Year; and

 

		(b)	in respect of all claims, losses or damages
in aggregate (including Service Credits) whether arising from tort (including negligence), breach of contract or otherwise under
or in connection with this agreement, shall in no event exceed £3,000,000 (three million pounds sterling) in each Contract
Year.

 

		25.3	Subject to clause 25.1 , neither party shall in any circumstances be liable to the other party
for:

 

		(a)	any indirect, special or consequential loss or damage; or

 

		(b)	(whether direct or indirect) any loss of profits, business opportunities, sales, contracts, revenue,
anticipated savings or loss or damage to goodwill.

 

		25.4	Subject to the provisions of clause 27.1, the Service Credits shall be the exclusive financial
remedy for the Customer for each Service Failure for which a Service Credit has been set.

 

		25.5	Nothing in this agreement shall be taken as in any way reducing or affecting a general duty to
mitigate loss suffered by a party.

 

		26	RISK AND Insurance

 

		26.1	The Supplier shall maintain in force at least the following insurance policies with reputable insurance
companies to cover its relevant potential liabilities in connection with this agreement:

 

		(a)	a public liability insurance policy with a limit of at least £5,000,000 (five million pounds
sterling) per claim; and

 

		(b)	employer's liability insurance with a limit of at least £5,000,000 (five million pounds sterling)
for claims arising from a single event or series of related events in a single calendar year.

 

		26.2	On the written request of the Customer, the Supplier shall provide the Customer with a copy of
each insurance policy. On the renewal of each policy, the Supplier upon request shall promptly send a copy of the receipt of the
premium paid by the Supplier to the Customer.

 

		26.3	Without prejudice to the monthly allowable damage provision at Schedule 2, risk of loss, theft
or damage to goods of the Customer (or the Customer’s suppliers) shall transfer from the Customer to the Supplier upon completion
of delivery at the Supplier's premises (or those of a third party appointed by the Supplier) and shall remain with the Supplier
until despatch from the Supplier's premises (or those of a third party appointed by the Supplier) and the Supplier shall maintain
and effect appropriate insurance for such goods whilst risk of loss, theft or damage resides with the Supplier.

 

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		27	Termination rights

 

		27.1	Where the Customer wishes to terminate this agreement due to the Supplier's Default:

 

		(a)	subject to clause 28, the Customer may terminate this agreement, immediately (subject to any specified
Termination Period in the Termination Notice) by giving written notice to the Supplier if one or more of the circumstances set
out in clause 27.1(d) occurs or exists;

 

		(b)	where the Customer is terminating this agreement for a material Default, it may rely on a single
material Default or on a number of Defaults or repeated Defaults that, taken together, constitute a material Default;

 

		(c)	the Customer shall also inform the Supplier in the Termination Notice of the duration of the Termination
Period during which it requires the Supplier to continue to provide, and/or procure the provision of, some or all of the Services.
The Customer may extend or shorten such period by giving the Supplier at least 15 Working Days' notice subject to the maximum Termination
Period of 3 months;

 

		(d)	the events which shall entitle the Customer to issue a Termination Notice are as follows:

 

		(i)	the Supplier is in material Default of this agreement and such Material Default is not remedied
in accordance with the Remediation Plan Process; or

 

		(ii)	the Supplier is in material Default of this agreement, which is irremediable; or

 

		(iii)	the parties fail to agree the Remediation Plan in accordance with the Remediation Plan Process;
or

 

		(iv)	the Supplier fails to materially implement or materially complete the Remediation Plan in accordance
with the Remediation Plan Process; or

 

		(v)	an Insolvency Event affecting the Supplier occurs; or

 

		(vi)	there is a change of Control of the Supplier.

 

		27.2	The Customer may, during the continuance of any Force Majeure Event, terminate this agreement by
written notice to the Supplier if a Force Majeure Event occurs that affects all or a substantial part of the Services and which
continues for more than 20 Working Days.

 

		27.3	The Supplier may terminate this agreement by giving not less than 9 months' prior written notice,
such notice may only be served by the Supplier on or after (but not before) the expiration of a period of 9 Months from the Effective
Date, to terminate in the event that in any consecutive twelve month period (such consecutive twelve month period may include time
prior to the Effective Date) the aggregated volumes of picks undertaken by the Supplier at the Accrington site is less than 4.5
million.

 

    	25

    	 

    

  

Any notice required
under this clause must be given before the expiry of 45 days following the end of the calendar month in which the trailing 12 month
aggregate picks fell below 4.5 million at the Accrington site.

 

		27.4	The Supplier may terminate this agreement immediately by giving the Customer written notice in
the event that:

 

		(a)	the Customer fails to pay an undisputed sum due to the Supplier under this agreement which, either
singly or in aggregate, exceeds 50% of the Charges due and payable in the previous month and such failure continues for 30 days
from receipt by the Customer of notice of non-payment from the Supplier;

 

		(b)	an Insolvency Event affecting the Customer occurs; or

 

		(c)	there is a change of Control of the Customer.

 

		28	Remediation Plan Process

 

		28.1	If the Supplier commits a material Default and the material Default is capable of remedy in all
material respects other than time of performance, the Customer may not terminate this agreement pursuant to clause 27.1 without
first operating the Remediation Plan Process. If the Supplier commits such a Default, the Customer shall give a Remediation Notice
to the Supplier which shall specify the Default in outline and the actions the Supplier needs to take with respect to remedying
the Default.

 

		28.2	The Customer shall be under no obligation to initiate the Remediation Plan Process if it issues
a Termination Notice pursuant to clause 27.1(a) in the circumstances set out in Clause 27.1(d)(ii),27.1(d)(v),27.1(d)(vi).

 

		28.3	Within 10 Working Days of receipt of a Remediation Notice, the Supplier shall either:

 

		(a)	submit a draft Remediation Plan, even if it disputes that it is responsible for the matters which
are the subject of the Remediation Notice; or

 

		(b)	inform the Customer that it does not intend to submit a Remediation Plan, in which event the Customer
shall be entitled to serve a Termination Notice.

 

		28.4	Acting reasonably and in good faith at all times, the Customer shall either approve the draft Remediation
Plan within 5 Working Days of its receipt pursuant to clause 28.3, or it shall inform the Supplier why it cannot accept the draft
Remediation Plan. In such circumstances, the Supplier shall address all such concerns in a revised Remediation Plan, which it shall
submit to the Customer within 5 Working Days of its receipt of the Customer's comments. If no such notice is given, the Supplier's
draft Remediation Plan shall be deemed to be agreed.

 

		28.5	Once agreed, the Supplier shall immediately start work on the actions set out in the Remediation
Plan.

 

		28.6	If, despite the measures taken under clause 28.4, a Remediation Plan cannot be agreed within 5
Working Days then the Customer may elect to end the Remediation Plan Process and serve a Termination Notice.

 

    	26

    	 

    

  

		28.7	If a Remediation Plan is agreed between the parties, but the Supplier fails to materially implement
or materially complete the Remediation Plan by the required remedial plan completion date, the Customer may:

 

		(a)	terminate this agreement by serving a Termination Notice; or

 

		(b)	give the Supplier a further opportunity to resume full implementation of the Remediation Plan;
or

 

		(c)	escalate any issues arising out of the failure to implement the Remediation Plan in accordance
with the Dispute Resolution Procedure.

 

		28.8	If, despite the measures taken under clause 28.7, the Supplier fails to materially implement the
Remediation Plan in accordance with its terms, the Customer may elect to end the Remediation Plan Process and refer the matter
for resolution by the Dispute Resolution Procedure or serve a Termination Notice.

 

		29	General consequences of expiry and termination

 

		29.1	The Supplier shall continue to provide and/or procure the provision of the Operational Services
to the required Service Levels, and shall ensure that there is no degradation in the standards of the Operational Services until
the Termination Date.

 

		29.2	Both parties shall comply with their obligations set out in Schedule 9.

 

		29.3	On the Termination Date, the Supplier shall:

 

		(a)	repay to the Customer any amount which it may have been paid in advance in respect of Services
not provided or procured by the Supplier as at the Termination Date; and

 

		(b)	provide access, during normal working hours, to the Customer and/or the Replacement Supplier for
up to 6 months after the expiry or termination of this agreement to such information relating to the Services as remains in the
possession or control of the Supplier.

 

		29.4	The following termination fee shall be payable by the Customer to the Supplier immediately upon
the Termination Date in the event that the Customer serves a notice pursuant to clause 2.1 to terminate this agreement with a Termination
Date:

 

		(i)	on or before the expiry of twenty four (24) Months from the Effective Date, £750,000 (seven
hundred and fifty thousand pounds); or

 

		(ii)	after the expiry of twenty four (24) Months from the Effective Date but on or before the expiry
of thirty six (36) Months from the Effective Date, £500,000 (five hundred thousand pounds).

 

		29.5	The provisions of clause 1,
clause 5.3, clause 7.3, clause 7.6, clause 7.9, clause 7.10, clause 10, clause 14, clause 15, clause 16.3, clause 17.1, clause
18, clause 19, clause 21.2, clause 23, clause 25, clause 29, clause 30, clause 31, clause 35, clause 37, clause 39, clause 40,
clause 41, clause 43, clause 44, clause 46 and the provisions of Schedule 4, Schedule 8 and Schedule 9 shall survive the termination
for any reason of this agreement.

 

    	27

    	 

    

  

		30	Exit and service transfer

 

		30.1	In the event of the termination of this agreement by the Customer pursuant to clause 27.1 the Supplier
shall provide the Transitional Assistance Services to the Customer in accordance with the requirements of the Exit Plan, both parties
shall comply with their respective obligations set out in Schedule 8 and the Supplier shall co-operate with the Customer and/or
the Replacement Supplier to the extent reasonably required to facilitate the smooth migration of the Operational Services from
the Supplier to the Customer and/or the Replacement Supplier.

 

		30.2	The Customer shall pay the Transitional Services Charges in respect of the provision of the Transitional
Assistance Services.

 

		30.3	The Supplier shall, within six months after the Effective Date, produce an Exit Plan based on the
principles set out in Schedule 8 for the orderly transition of the Services from the Supplier to the Customer and/or any Replacement
Supplier in the event of any termination or expiry of this agreement by the Customer pursuant to clause 27.1. Within 30 Working
Days after the submission of that Exit Plan, the parties shall meet and use all reasonable endeavours to agree the contents of
that Exit Plan, based on the principles set out in Schedule 8. If the parties are unable to agree the contents of the Exit Plan
within that 30 Working Day period, the principles set out in Schedule 8 shall apply and either party may refer the Dispute for
resolution in accordance with the Dispute Resolution Procedure.

 

		30.4	The Supplier shall update the Exit Plan as relevant during the Term to reflect changes in the Services
and shall keep the Exit Plan under continuous review. Following each update, the Supplier shall submit the revised Exit Plan to
the Customer for review. Within 30 Working Days after the submission of the revised Exit Plan, the parties shall meet and use all
reasonable endeavours to agree the contents of the revised Exit Plan, based on the principles set out in Schedule 8 and the changes
that have occurred in the Services since the Exit Plan was last agreed. If the parties are unable to agree the contents of the
revised Exit Plan within that 30 Working Day period, the previous version shall continue to apply and either party may refer the
Dispute for resolution in accordance with the Dispute Resolution Procedure.

 

		30.5	Until the agreement of the Exit Plan, the Supplier shall provide the Transitional Assistance Services
in accordance with the principles set out in Schedule 8 and the last-approved version of the Exit Plan (insofar as this still applies)
to the Customer in good faith. The Supplier shall ensure that it is able to implement the Exit Plan at any time.

 

		30.6	In addition, within 30 days after service of a Termination Notice by the Customer pursuant to clause
27.1 , the Supplier shall update the Exit Plan into a final form that could be implemented immediately and in doing so, provide
as much detail as is appropriate given the nature of the termination or expiry and the timing of termination, so that such Exit
Plan can be submitted to the Customer for review and approval. The parties shall meet and use their respective reasonable endeavours
to agree the contents of such Exit Plan based on the principles set out in Schedule 8. Until the agreement of the updated Exit
Plan, the Supplier shall provide the Transitional Assistance Services in accordance with the last-approved version of the Exit
Plan (insofar as this still applies) to the Customer in good faith.

 

    	28

    	 

    

  

		31	Dispute Resolution Procedure

 

		31.1	The parties shall attempt, in good faith, to resolve any Dispute promptly by negotiation which
shall be conducted as follows:

 

		(a)	the Dispute shall be referred, by either party, first to the Operational Services Managers of each
of the parties for resolution;

 

		(b)	if the Dispute cannot be resolved by the Operational Services Managers of the parties within 14
days after the Dispute has been referred to them, either party may give notice to the other party in writing (Dispute Notice) that
a Dispute has arisen; and

 

		(c)	within seven days of the date of the Dispute Notice, each party shall refer the Dispute to the
Customer's Representative and the Supplier's Representative for resolution.

 

		31.2	If the Customer's Representative and the Supplier's Representative are unable, or fail, to resolve
the Dispute within 21 days of the date of the Dispute Notice, or within 14 days of the reference to the Customer's Representative
and the Supplier's Representative pursuant to clause 31.1(c), the parties may attempt to resolve the Dispute by mediation in accordance
with clause 31.3.

 

		31.3	If, within 30 days of the Dispute Notice, the parties have failed to agree on a resolution, either
party may refer any Dispute for mediation pursuant to this clause 31.3, but neither shall be a condition precedent to the commencement
of any court proceedings, and either party may issue and commence court proceedings prior to or contemporaneously with the commencement
of mediation. The following provisions shall apply to any such reference to mediation:

 

		(a)	the reference shall be a reference under the Model Mediation Procedure (MMP) of the Centre of Dispute
Resolution (CEDR) for the time being in force;

 

		(b)	both parties shall, immediately on such referral, co-operate fully, promptly and in good faith
with CEDR and the mediator and shall do all such acts and sign all such documents as CEDR or the mediator may reasonably require
to give effect to such mediation, including an agreement in, or substantially in, the form of CEDR's Model Mediation Agreement
for the time being in force; and

 

		(c)	to the extent not provided for by such agreement of the MMP:

 

		(i)	the mediation shall commence by either party serving on the other written notice setting out, in
summary form, the issues in dispute and calling on that other party to agree the appointment of a mediator; and

 

		(ii)	the mediation shall be conducted by a sole mediator (which shall not exclude the presence of a
pupil mediator) agreed between the parties or, in default of agreement, appointed by CEDR.

 

		31.4	If and to the extent that the parties do not resolve any Dispute or any issue in the course of
any mediation, either party may commence or continue court proceedings in respect of such unresolved Dispute or issue.

 

    	29

    	 

    

  

		31.5	Nothing in this clause 31 shall prevent either party from instigating legal proceedings where an
order for an injunction, disclosure or legal precedent is required.

 

		32	expert determination

 

Where pursuant
to this agreement, a matter is to be referred to an Expert for determination, the following provisions shall apply to such Expert’s
determination:

 

		(a)	the Expert shall be a firm of consultants or other qualified professionals having a reputation
as experts in the relevant field appointed in each instance by the agreement of the parties or, failing agreement, by the Institute
of Chartered Accountants in England and Wales;

 

		(b)	the decision of the Expert shall be final and binding upon the parties and shall not be capable
of challenge, whether by mediation, arbitration or otherwise;

 

		(c)	each party shall be entitled to make written submissions to the Expert and if a party makes any
submission it shall also provide a copy to the other party and that other party shall have the right to comment on such submission.
The parties shall make available to the Expert all books and records relating to the issues in dispute and shall render to the
Expert any assistance requested of the parties;

 

		(d)	the Expert shall act as an expert and not an arbitrator. The terms of engagement of the Expert
shall include an obligation on the part of the Expert to establish a timetable for the making of submissions and replies and to
notify the parties in writing of his decision within 20 Business Days from the date on which the Expert has been selected (or such
other period as the parties may agree or as set forth herein);

 

		(e)	the costs of the Expert shall be shared between the parties in such proportion as the Expert shall
determine.

 

		33	Assignment and novation

 

		33.1	Neither party shall assign, novate or otherwise dispose of any or all of its rights and obligations
under this agreement without the prior written consent of the other party.

 

		34	Variations

 

		34.1	No variation of this agreement shall be effective unless it is in writing and signed by the parties
(or their authorised representatives).

 

		35	Waiver

 

		35.1	A waiver of any right or remedy under this agreement or by law is only effective if given in writing
and shall not be deemed a waiver of any subsequent breach or default.

 

		35.2	A failure or delay by a party to exercise any right or remedy provided under this agreement or
by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise
of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this agreement or by
law shall prevent or restrict the further exercise of that or any other right or remedy.

 

    	30

    	 

    

  

		36	No partnership or agency

 

Nothing in this agreement is intended
to, or shall be deemed to, establish any partnership or joint venture between any of the parties, constitute any party the agent
of another party, or authorise any party to make or enter into any commitments for or on behalf of any other party.

 

		37	Announcements

 

		37.1	No party shall make, or permit any person to make, any public announcement concerning this agreement
without the prior written consent of the other parties (such consent not to be unreasonably withheld or delayed), except where
such public announcement is required by law, any governmental or regulatory authority (including, without limitation, any relevant
securities exchange), any court or other authority of competent jurisdiction the prior written consent of the other party shall
not be required but the parties shall consult with the intention of agreeing a co-ordinated release of any such public announcement
including with regard to content and timing.

 

		37.2	Each party acknowledges to the other that nothing in this agreement, either expressly or by implication,
constitutes an endorsement of any products or services of the other party (including the Services) and each party agrees not to
conduct itself in such a way as to imply or express any such approval or endorsement.

 

		38	Severance

 

If any provision
or part-provision of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum
extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision
shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the
validity and enforceability of the rest of this agreement.

 

		39	Further assurance

 

Each party shall,
and shall use all reasonable endeavours to procure that any necessary third party shall, execute and deliver such documents and
perform such acts as may reasonably be required for the purpose of giving full effect to this agreement.

 

		40	Entire agreement

 

		40.1	This agreement constitutes the entire agreement between the parties and supersedes and extinguishes
all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or
oral, relating to its subject matter.

 

		40.2	Each party agrees that it shall have no remedies in respect of any statement, representation, assurance
or warranty (whether made innocently or negligently) that is not set out in this agreement. Each party agrees that it shall have
no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this agreement.

 

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		41	Third party rights

 

		41.1	This agreement does not create, and shall not be construed as creating, any right under the Contracts
(Rights of Third Parties) Act 1999 which is enforceable by any person who is not party to this agreement.

 

		42	Notices

 

		42.1	A notice given to a party under or in connection with this agreement shall be in writing and sent
to the party at the address or to the email address given in this agreement or as otherwise notified in writing to the other party.

 

		42.2	The following table sets out methods by which a notice may be sent and, if sent by that method,
the corresponding deemed delivery date and time:

 

	Delivery method	 	Deemed delivery date and time
	
        Delivery by hand
        and marked for the attention of:

         

        - mark Ashcroft,
        for notices to the Supplier;

        - [XXXXX],
        for notices to the customer..
	 	On signature of a delivery receipt or at the time the notice is left at the registered office address of the relevant party.
	
        Pre-paid first class
        recorded delivery post or other next working day delivery service and marked for the attention of:

         

        - mark Ashcroft,
        for notices to the Supplier;

        - [XXXXX],
        for notices to the customer.
	 	9.00 am on the second Working Day after posting to the registered office address of the relevant party or at the time recorded by the delivery service as being left  at the registered office address of the relevant party.
	email	 	at the
    time of transmission sent to                                     
    for notices to the supplier and [email] for notices to the customer

 

		42.3	This clause does not apply to the service of any proceedings or other documents in any legal action
or, where applicable, any arbitration or other method of dispute resolution.

 

		43	Governing law

 

This agreement and any dispute or
claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims)
shall be governed by and construed in accordance with the law of England and Wales.

 

		44	Jurisdiction

 

Each party irrevocably agrees that
the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection
with this agreement or its subject matter or formation (including non-contractual disputes or claims).

 

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		45	Counterparts

 

		45.1	This agreement may be executed in any number of counterparts, each of which when executed shall
constitute a duplicate original, but all the counterparts shall together constitute the one agreement.

 

		45.2	Transmission of the executed signature page of a counterpart of this agreement by (a) fax or (b)
e-mail (in PDF, JPEG or other agreed format) shall take effect as delivery of an executed counterpart of this agreement. If either
method of delivery is adopted, without prejudice to the validity of the agreement thus made, each party shall provide the others
with the original of such counterpart as soon as reasonably possible thereafter.

 

		45.3	No counterpart shall be effective until each party has executed and delivered at least one counterpart.

 

		46	Rights and remedies

 

Except as expressly provided in
this agreement, the rights and remedies of a party provided under this agreement are in addition to, and not exclusive of, any
of its rights or remedies provided by law.

 

THIS AGREEMENT has been entered into
on the date stated at the beginning of it.

 

    	33

    	 

    

  

Schedule
1

Service Description

 

The nature of the Services to be provided by
the Supplier are warehousing, fulfilment, and dispatch and return of goods for the Customer's distribution network in the UK and
Ireland.

 

More specifically the Services are to handle
the Customer's goods for resale from its UK and overseas product suppliers from the point of delivery to the Supplier at its warehouse
facility to the point of dispatch including:

 

		·	unloading of the goods from delivery vehicles

		·	inspection of the external packaging to
assess damage in transit and other agreed inbound quality control procedures

		·	putting received goods into warehouse
facilities

		·	accepting orders from the Customer and
dispatching orders picking and packing the Customer's orders for dispatch to its distributor network

		·	personalising items as noted on the Customer's
distributor orders

		·	loading packed parcels into vehicles for
the Customer's delivery provider

		·	rotating and checking stock of the Customer's
goods

		·	maintaining a suitable environment for
and security of the Customer's goods when they are at the Supplier's premises 

		·	reporting the status of stock, orders
despatched, and incorrectly picked items weekly monthly performance reporting to demonstrate compliance with the Service Levels

		·	attending contract management meetings
in accordance with this Agreement

 

The Customer agrees the following
limitations to the Services provided by the Supplier:

 

		·	The following monthly maximum limits apply

 

	Accrington	 	-  4,500 pallets
	Chadderton	 	-  2,000 pallets
	Chadderton (catalogues) 	 	-  500 pallets
	External	 	-  10,000 pallets

 

“External” includes
stock held externally in Supplier ‘leased’ warehouses such as at The Bear, Widnes and Unit 3 Time Tech Park, Burnley
and such other premises leased by the Supplier now or in the future.

 

Accrington site Collate SKUs : 1,900

Chadderton site Non Collate SKUs:
184

Sales Aids at Chadderton: 250

 

In the event that at any time during
the Term the Customer has a requirement for the Services (or services of a similar nature) in excess of the maximum limits above
it shall first notify the Supplier who shall be given the opportunity to propose terms to the Customer on which it can fulfil such
excess requirements before the Customer approaches or appoints a any third party in connection with the excess requirements.

 

    	34

    	 

    

  

The average number of items per parcel
will be between 18 and 26 during an Accounting Month. For the avoidance of doubt, any proposed changes to these averages shall
be subject to the Change Control Procedure. 

 

		·	Personalisation of items is a service
that the Supplier only provides to the Customer for jointly sold 'common' items.  Where a Customer specific item would require
personalisation the Customer must get the prior agreement of the Supplier to provide the personalisation service in advance of
selling the item. The Supplier may provide personalisation services for Customer specific items when the Customer agrees to pay
for any additional equipment and training the Supplier will have to incur and the cost of personalising the item. Any personalised
items will not be merged with the main parcel.

 

		·	The maximum number of 24-hour picks for
the collate service is 65,000 per day. The Supplier can limit pro rata the number of next day orders it can accept during periods
of high demand. In this event, the Supplier shall inform the Customer by 15.00 hrs the day before the order is due for dispatch.

 

The normal working hours of the Supplier
are as indicated in the follows for the current year.

 

 

Each December the Supplier will submit
to the Customer the normal working hours upon which its costings are based. These will remain similar year to year and are designed
to match supply with demand throughout the year.

 

The design, production and printing
of the Customer's print catalogues is not part of this Agreement.

 

    	35

    	 

    

  

The Supplier may refuse to render
the Services in connection with any new SKU introduced from the Effective Date where the addition of that SKU would require the
Supplier to incur additional time and expense either in order to prepare its facilities and equipment to accept the SKU and/or
on an on-going basis as a result of the nature of the SKU. Should Supplier refuse to render such Services in connection with any
new SKU introduced from the Effective Date, then Customer shall be entitled to have the Services provided herein with regard to
such new SKUs satisfied by a third party of its choosing with no additional obligations being owed to Supplier with regard to such
new SKUs.

 

Summary of IT Services

 

Subject to the Customer’s ongoing compliance
with Findel IT Security and Acceptable Use policies, the Supplier shall provide as part of the Operational Services the IT services
set out in Exhibit A below (which the Supplier acknowledges are all of the day-to-day IT services (excluding any development, project
and upgrade works and/or services) that were performed by the Supplier on behalf of the Customer as part of the provision of the
Operational Services immediately prior to 5 February 2015 at no additional charge to the Customer ("IT Services"). 
For the avoidance of doubt, any Services relating to IT services not expressly specified below shall be provided subject to agreed
terms between the parties.  

 

The Customer may notify the Supplier of Customer’s
termination of all or any part of the services listed in the table IT Services provided that any such termination shall not effect
or is likely to effect the Supplier’s ability to perform any part of the remaining Operational Services and such notice shall
be made in writing by Customer and be no less than ninety (90) days before the termination shall be effective. Following the expiration
of the notice period, the Customer shall be entitled to have any such services to which IT Services to which the notice was given
automatically terminated subject to the IT department’s availability to carry out any change(s) . Should Customer give such
written notice of termination or requested change, Supplier shall use reasonable efforts to assist and support Customer as reasonably
required for Customer’s implementation and transition to a new provider.

 

    	36

    	 

    

  

Exhibit A

 

	IT
    Service Heading	 	Inidicative

    Costs	 	Activities
    Included in SLA	 	Example
    Activities excluded from SLA
	Aptos Accounting recharge	 	£3.2k	 	1.    Existing
        Server Hardware or Virtual Machine & Data Centre hosting (including all existing environmental controls)

        2.    Hardware
        break/fix maintenance of all associated system components to current SLA’s

        3.    Data
        Back-up, Recovery, IT Disaster Recovery on existing cycles

        4.    Ongoing
        ‘right to use’ licence subscriptions at current version numbers

        5.    General
        System housekeeping including

        a.    Operating
        System Patch Management

        b.    Application
        Patch Management

        c.    Database
        administration

        6.    Support
        of existing network connectivity

        7.    Support
        of existing desktop and terminal services access

        8.    Support
        of existing Remote access

        9.    Minor
        modifications (less than 1 day FTE)
	 	1.    Capacity
        requirement increases

        2.    Implementation
        of new features / functionality

        3.    Major
        modifications including

        a.    Operating
        system version upgrades

        b.    Application
        version upgrades either driven by the supplier or requested by Kleeneze

        c.    Hardware
        upgrades associated with 1a & 1b

        4.    Changes
        driven by UK Law or legislation

	Warehouse Management System
    (IWACS) recharge	 	£7.8k	 	1.    Existing
        Server Hardware or Virtual Machine & Data Centre hosting (including all existing environmental controls)

        2.    Hardware
        break/fix maintenance of all associated system components to current SLA’s

        3.    Data
        Back-up, Recovery, IT Disaster Recovery on existing cycles

        4.    Ongoing
        ‘right to use’ licence subscriptions at current version numbers

        5.    General
        System housekeeping including

        a.    Operating
        System Patch Management
	 	1.    Capacity
        requirement increases

        2.    Implementation
        of new features / functionality

        3.    Major
        modifications including

        a.    Operating
        system version upgrades

        b.    Application
        version upgrades either driven by the supplier or requested by Kleeneze

        c.    Hardware
        upgrades associated with 1a & 1b

        4.    Changes
        driven by UK Law or legislation

 

    	37

    	 

    

  

	 	 	 	 	b.    Application
        Patch Management

        c.    Database
        administration

        6.   Support
        of existing network connectivity

        7.   Support
        of existing desktops, terminals, scanners, label printers.

        8.   Support
        of existing Remote access

        9.   Minor
        modifications (less than 1 day FTE)
	 	 
	Web Domain Names	 	£4.4k	 	1.   Management
        and renewal of all existing domain names

        2.   Domain
        Name Services Management (including web & mail records) to enable use of existing domain names
	 	1.   Acquisition
    and management of any new domain names
	Infrastructure & Software charges	 	£25.7k	 	1.  Ongoing
    supply, support and management of all Kleeneze infrastructure software, services, hardware maintenance support, connectivity
    and security at existing levels 	 	1.   Capacity
        requirement increases

        2.   Implementation
        of new features / functionality requested by Kleeneze

        3.   Major
        modifications including

        a.   Operating
        system version upgrades

        b.   Application
        version upgrades either driven by the supplier or requested by Kleeneze

        c.   Hardware
        upgrades associated with 1a & 1b

        4.   Changes
        driven by UK Law or legislation

	Office 365 Subscriptions	 	£35k	 	1.  Ongoing
    supply, support and management of existing Office 365 subscriptions until contract end in June 2016	 	1.   Increases
        in capacity / volumes required by Kleeneze

        2.   Existing
        Microsoft agreement terminates in June 2016 and will be subject to renegotiation with Microsoft at prevailing rates

	IT Support Staff Annual recharge (estimate)	 	£17.3k	 	1.  All
    EGL & Group IT staff day to day operational support at existing levels	 	1.   Any
    increases above 5% of existing support brought about by Kleeneze business changes
	IT Consumables	 	£5.1k	 	1.  Supply
    of all IT consumables at existing levels (+/- 5%)	 	1.   Any
    increases above 5% of existing  consumable usage brought about by Kleeneze business changes or clear misuse

 

    	38

    	 

    

 

 

	Network recharge (WAN, LAN, Internet, etc.)	 	£27.7k	 	1.  Ongoing
    supply, support and maintenance of all network components and connectivity used by Kleeneze at current levels	 	1.   Any
        increases above 5% of existing network usage brought about by Kleeneze business changes or clear misuse

        2.   Major
        office reorganisations resulting in 5 or more network point moves /re-cabling

	Telephony (Avaya recharge)	 	£9.9k	 	1.  Ongoing
    supply, support and maintenance of all office and contact centre telephony systems, components, handsets, headsets and connectivity
    used by Kleeneze at current levels	 	1.   Beyond
        Economical Repairs to handsets and headsets not covered by maintenance or due to misuse

        2.   Increases
        to system capacity, handset and connections required by Kleeneze

        3.   Implementation
        of new functionality, features or systems required by Kleeneze

        4.   Major
        modifications including

        a.   Operating
        system version upgrades

        b.   Application
        version upgrades either driven by the supplier or requested by Kleeneze

        c.   Hardware
        upgrades associated with 1a & 1b

        5.   Changes
        driven by UK Law or legislation

	Telephony (Calls ~ estimate & Lines)	 	£11.4k	 	1.  Ongoing
    supply, support and maintenance of all telephony lines components and connectivity used by Kleeneze at current levels	 	1.   Any
        increases above 5% to existing call volumes / running costs brought about by Kleeneze business changes or clear misuse

         

	Mobile phones (estimate)	 	£9.3k	 	1.  Ongoing
    supply, support and maintenance of all existing mobile phone handsets, connections and services used by Kleeneze at current
    levels	 	1.   Any
        increases above 5% to existing call volumes / running costs brought about by Kleeneze business changes or clear misuse

        2.   New
        or replacement handsets / mobile devices

         

	IT Operations, M/F processing, Data Centre
    & Printing	 	£210k	 	Ongoing
        provision of IT Operational Services based upon current levels :-

        1.  Mail
        Order batch processing. (5 processes a week delivered to warehouse

        for 7am).

         
	 	1.   Any
        increases above 5% to existing print or processing volumes brought about by Kleeneze business changes or clear misuse

        2.   Any
        increases to the frequency of batch processing runs

 

    	39

    	 

    

 

 

	 	 	 	 	2.   Mainframe
        (Z-series) processing power. (approx. 5% overall of 23MSU

        Software
        charges).

        3.   Hardware
        24 hour processor maintenance support

        4.   D-Series
        scheduling agent for cross platform event scheduling.

        5.   File
        transfers (Etiliize) - Using FTP.

        6.   Invoice
        Printing using PSF software. (20K per week x 52)

        7.   Invoice
        stationery (20K per week x 52)

        8.   24
        and 48 hour label production daily

        9.   Fortnightly
        period end processing - same day service.

        10. 24
        hour service monitoring via Xymon.

        11.  DBA
        support for system related changes and database maintenance.

        12.  Power
        / cooling Servers UPS in Server room

         
	 	3.   Major
        modifications including

        a.   Operating
        system version upgrades

        b.   Application
        version upgrades either driven by the supplier or requested by Kleeneze

        c.   Hardware
        upgrades associated with 1a & 1b

        4.   Changes
        driven by UK Law or legislation

	Ricoh Multi Function Device (print, scan,
    copy)	 	£14.8k	 	Ongoing supply, support and maintenance
    of all existing MFD’s used by Kleeneze at current levels	 	1.   Any
        additional devices

        2.   Supply
        & Implementation of amended or enhanced features or functionality

        3.   Any
        increases above 5% to existing print volumes brought about by Kleeneze business changes or clear misuse

        4.   Major
        modifications including

        a.   Operating
        system version upgrades & associated hardware upgrades

        5.   Changes
        driven by UK Law or legislation

	 	 	 	 	 	 	 
	TOTAL	 	£381.6k	 	 	 	 

 

    	40

    	 

    

  

Schedule
2

Service Levels

 

The Supplier agrees to fulfil the Customer's
orders and load them onto the Customer's delivery partner(s) vehicles as follows:

 

Order preparation

 

The Customer must use the Supplier's
prescribed format to send electronic orders to the Supplier, who will accept them for next day dispatch up to 15.15 hrs each Working
Day ("Cut Off Time"). A schedule of working times and cut offs is in Schedule 1.

 

Orders that are received after the
Cut Off Time will be excluded from the performance calculations for the following Working Day and will be deemed received on the
next Working Day.

 

From time to time during peak demand
an extension to the Cut Off Time might be offered at additional cost to the Customer. The Customer may accept this offer or reject
it and maintain the standard Cut Off Time.

 

Where the Supplier suffers a service
failure it may offer to extend the Cut Off Time when it is reasonably practicable to do so and will make no additional charge to
the Customer for orders received up to the revised Cut Off Time.

 

The Supplier offers the following level of
service for the picking and packing of Customer orders:

 

Within each Accounting Month 99.0
percent of non-personalised items in orders received by the Cut Off Time will be available for loading onto the Customer's approved
distribution partner's vehicle by the end of the following Working Day

 

In addition certain items from Collinson's
as well as international shipments are shipped by the Suppliers delivery partners Royal Mail and for Ireland City Air express The
cost of shipment will be recharged to the Customer each accounting month.

 

Note:-

		·	International - Royal Mail (Supplier licence) - Requires Customs Documentation
from the Customer

		·	Channel Islands - Royal Mail (Supplier licence) - Requires Customs
Documentation from the Customer

		·	Ireland – City Air Express (Customer only)

 

Within each Accounting Month 99.0
percent of personalised items will be dispatched within eight Working Days of receipt of the order by the Supplier subject to the
exception that personalised items will be held on Navision for 3 days to avoid single item dispatches (as per current operating
procedures).

 

All orders will, in any event, be
dispatched within nine Working Days of the order dispatch Cut Off Time.

 

For the avoidance of doubt, if the
Customer's delivery partner fails to collect parcels during time the slot provided by the Supplier there shall be no failure of
a Service Level and those orders will be excluded from the calculation of service performance.

 

    	41

    	 

    

  

The Supplier will not substitute the delivery
partner chosen by the Customer without the prior written approval of the Customer. The Customer acknowledges that personalised
orders from Collinson's which are sent out via Royal Mail, a delivery partner of the Supplier.

 

The Supplier will not accept any orders and
there shall be no failure of a Service Level where the Customer has not ensured sufficient stock to fulfil the order is at the
Supplier's relevant dispatch warehouse.

 

The Supplier will reimburse the item cost
to the Customer for all damage to the Customer's stock in its control above a monthly allowable damage allowance of 0.75% of the
Customer's cost of goods sold each month reported at month-end. This excludes any stock damaged in transit to or from the Supplier's
facilities.

 

All personalised stock holding currently belongs
to the Supplier. The Customer will be charged for the stock after dispatch. A percentage of stock is damaged during personalisation.
The Customer will be charge the same percentage pro rata to their sales as the Supplier.

 

The Customer is responsible for quality control
of inbound stock. Except for checking the pallet when containers are unloaded the Supplier will only inspect the condition of stock
when it is being picked. The Customer will be notified about any stock damaged during inbound transit as soon as the Supplier becomes
aware of the damage.

 

If the contents allocated to a single parcel
cannot physically fit into the parcel an additional parcel maybe created for delivery.

 

    	42

    	 

    

  

Schedule
3

Customer's Responsibilities

 

 In
order to facilitate the provision of the Services by the Supplier, the Customer shall (in addition to those Customer responsibilities
and obligations identified elsewhere in this agreement), be responsible for the following:

 

		1	Access

 

The Customer shall:

 

		(a)	provide the Supplier with access to appropriate members of the Customer's staff, as such access
is reasonably requested by the Supplier, in order for the Supplier to discharge its obligations under this agreement;

 

		(b)	respond to and provide such documentation, data and other information as the Supplier reasonably
requests in order for the Supplier to perform its obligations under this agreement;

 

		(c)	to the extent that the following are not expressly provided for elsewhere in this agreement, using
its reasonable endeavours, respond to requests for information in a prompt and timely manner, where such requests are reasonably
made by or on behalf of the Supplier to enable the Supplier to comply with its obligations under this agreement;

 

		(d)	procure and maintain for the Term at its own cost and expense all licences, consents, software,
hardware, equipment and other assets required to receive the full benefit of the Services.

 

		2	operational services

 

		(a)	each quarter the Customer shall provide to the Supplier, in an agreed form, a rolling non-binding
forecast of:

 

		(i)	the number of orders and average picks per order by Working Day and product SKU for the following
12-months; and

 

		(ii)	the number of orders and average picks per order by product type of collate, non-collate and personalised
items by Working Day for the period between the following 13 months to 36 months.

 

		(b)	It is the Customer's responsibility to ensure the management of its goods to enable the Supplier
to fulfil all orders submitted to it. Furthermore, the Customer shall give Supplier no less than 7 days' prior written notice of
any requirement for the Supplier to transfer goods between any of its facilities or the external facilities used to perform the
Services in order to fulfil any orders. The Customer shall maintain inventory records of volume of goods and location of goods
based on data supplied by the Supplier.

 

    	43

    	 

    

  

Schedule
4

Charges

 

Part 1 - Charges

 

		1	Operational Service Charges

 

The Operational Services Charges shall comprise
of a variable Accounting Monthly fee based on the components set out below:

 

The variable Accounting Monthly fee will be
invoiced at the end of each Accounting Month for the variable element of the service costs based on the following volumes and costs.
At the end of each Accounting Month the Supplier will invoice the Customer the actual volume multiplied by the standard cost for
each location.

 

		(a)	Fulfilment Costs 

 

Accrington

 

Fulfilment at £0.54
per pick

Container de-stuffing at £300
per container

 

Chadderton

 

Fulfilment at £1.26
per pick

 

Failsworth - returns

 

Fulfilment at £0.91
per pick

 

External Storage

 

RHD at £3.00 per pallet

£1.15 per pallet per
week, or part week in storage

Container de-stuffing at £300
per container

 

“External” includes stock held
externally in Supplier ‘leased’ warehouses such as at The Bear, Widnes and Unit 3 Time Tech Park, Burnley and such
other premises leased by the Supplier now or in the future.

 

Subject at all times to clause 7.4, the aforementioned
"per pick" costs are fixed for the first Contract Year. Thereafter, and no more than once per Contract Year and only
within the last three (3) month of a Contract Year, either party (but not both in any Contract Year) may elect in writing to the
other party to review and agree changes to any one or more of the aforementioned "per pick" costs on the basis of deceases
and/or increases to the Supplier's costs and charges taken into account to calculate the "per pick" costs from the Effective
Date (or the date of the last review pursuant to this paragraph). In the event that the parties have not agreed in writing to a
change within 45 days of a party's written election, either party may refer the issue to an Expert for final binding determination
as to the change to be implemented to the “per pick” costs and the date such change shall take effect. The parties
agree that any changes to the "per pick" cost shall not have retrospective effect.

 

    	44

    	 

    

  

		(b)	Personalisation Costs 

 

Personalisation costs including the cost of
the common stock and packaging used and duty paid by the Supplier for the Customer's products will be recharged at cost each Accounting
Month. Customer rectification requirements will be fulfilled by the Supplier if internal resource is available and recharged at
cost each Accounting Month. Should internal resource not be available the Customer shall use a third party supplier at its own
cost and expense.

 

		(c)	Brochure Costs 

 

Chadderton Kleeneze brochure and product kit
builds will be recharged at cost each Accounting Month (based on agreed fixed rates).

 

		(d)	Delivery and Dispatch Costs

 

Dispatches from Collinson's and International
shipments via Royal Mail or Express City Parcels.

 

Each Accounting Month the Supplier will recharge
the delivery costs for the Customer's parcels from Collinson's and International deliveries to the Customer.

 

		(e)	Carbon Commitment and Packaging Waste Costs 

 

Carbon Commitment and packaging
waste costs will be recharged Accounting Monthly to the Customer based on the pro rata costs incurred.

 

		(f)	Insurance Costs 

 

The cost of insurance of
the Customer’s stock under the Supplier’s control, together with the appropriate part of the cost of insurance of the
Supplier’s premises, plant and machinery shall be recharged on a proportionate basis. As of the Effective Date the costs
shall be recharged at a cost of £5,477 per annum for stock insurance and £26,901 for plant, machinery and premises
insurance. Any increases in such costs during the Term imposed on the Supplier shall be passed on to the Customer on a proportionate
basis.

 

		2	Transitional Assistance Service Charges

 

These will be billed on a time and materials
basis to the Customer for services provided during the execution of the Exit Plan.

 

Part 2 - Service Credits

 

 

Service Credits are to be calculated as follows:

 

		·	If, owing to failure by the Supplier, the proportion of parcels dispatched
on time falls below 99% during an Accounting Month the following Service Credits will apply:

 

		Ø	Between 99% and 95% of parcels not dispatched on time: the fulfilment
cost will be reduced by 50% of the Accrington average site pick cost for the day when the dispatch should have occurred for the
number of parcels not dispatched on time.

 

    	45

    	 

    

  

		Ø	Below 95% of parcels not dispatched on time: the fulfilment cost will
be reduced by 100% of the Accrington average site pick cost for the day when the dispatch should have occurred for the number of
parcels not dispatched on time.

 

    	46

    	 

    

  

Schedule
5

Key Personnel

 

Part - Customer's Key Personnel

 

	Name	 	Job title
	                            	 	Customer's Representative
	                               	 	Customer's Operational Services Manager
	                                	 	CUSTOMER'S senior finance Representative

 

Part 2 - Supplier's Key Personnel

 

	Name	 	Job title
	                                                	 	Supplier's Representative
	                          	 	Supplier's Operational Services Manager
	                                         	 	Supplier's senior finance Representative

 

    	47

    	 

    

  

Schedule
6

Contract and Service Management

 

This Agreement will be managed as follows:

 

		·	Open-book accounting will operate for
costs and recharges

		·	The Key Personnel will be responsible
for the governance of this Agreement

		·	There will be an attempt to resolve operational
difficulties as quickly and as close to the source as possible; providing the Service to the Customer is a key part of the Customer's
business

 

The Supplier will produce the following reports
using agreed templates:

 

		·	Weekly report of orders taken, dispatched
and back-logs

		·	Accounting Monthly report of collate and
non-collate, non-personalised and personalised dispatches made and measured against the Service Level 

		·	Accounting Monthly picks at each facility

		·	Accounting Monthly personalised orders
from the Customer as a percentage of total personalised orders. Any backlog and the proportion of 24 hour delivery limitations
will also be reported

		·	Accounting Monthly report of damaged and
written off stock listed by SKU and showing costs from the Customer 

		·	Accounting Monthly quality assurance findings

		·	Quarterly maximum pallet holding and site
total cost per item ("CPI") costs for the preceding quarter

		·	Quarterly calculation of under- or over-charge
based on volumes and CPI data

 

Weekly reports will be provided by 17.00 hrs
each Monday or on the next Working Day if Monday is not a Working Day.

 

Accounting Monthly and quarterly reports will
be provided by 17.00 hrs on the fourth Working Day of the next month

 

Review of reports

 

		·	The Operational Service Managers will
use e-mail to review the weekly reports

		·	The Operational Service Managers will
review monthly reports at the monthly review meeting

		·	The Representatives will review quarterly
reports and the compliance with Service Levels at the formal quarterly review meeting 

		o	The agenda will include:

		§	Review of previous action

		§	Quarterly review of Service Levels

		§	Any problems that require remediation

		§	Any Remediation Plans that have been agreed,
the person accountable and the date for completion

		§	Agree Service Credits

		§	Anything known by either party that might
affect the Agreement or either party's performance of its obligation 

		o	Update on Change Control items

 

    	48

    	 

    

  

		o	Changes to Key Personnel

		o	Status of the Exit Plan

		o	Update the Exit Plan when relevant

 

		·	Percentage of non-personalised orders
dispatched the following working day [day 1] from the order Cut Off Time 

		·	Percentage of personalised orders dispatched
within eight Working Days of order Cut Off Time, day 1 being the next working day 

		·	Accounting Monthly rolling average time,
in working days, to dispatch all non-personalised orders

		·	Accounting Monthly rolling average time,
in working days, to dispatch all personalised orders 

		·	Accounting Number of hours fulfilment
facility was unavailable for planned fulfilment work each month

		·	Accounting Monthly and quarterly trend
in CPI by facility

		·	Cost of damaged stock

		·	Maximum pallet holding at each facility

		·	Delivery slots missed by Customer's dispatch
partners 

		·	Pick error report weekly

 

In addition all reports produced by the Supplier
for the Customer as at the Effective Date will continue to be provided by the Supplier to the Customer.

    	49

    	 

    

  

Schedule
7

Change Control Procedure

 

		1	Principles

 

		1.1	Where the Customer or the Supplier sees
a need to change this agreement, the Customer may at any time request, and the Supplier may at any time recommend, such Change
only in accordance with the Change Control Procedure set out in paragraph 2
of this Schedule 7.

 

		1.2	Until such time as a Change is made in accordance with the Change Control Procedure, the Customer
and the Supplier shall, unless otherwise agreed in writing, continue to perform this agreement in compliance with its terms prior
to such Change.

 

		1.3	Any discussions which may take place between the Customer and the Supplier in connection with a
request or recommendation before the authorisation of a resultant Change shall be without prejudice to the rights of either party.

 

		2	Procedures

 

		2.1	Discussion between the Customer and the Supplier concerning a Change shall result in any one of
the following:

 

		(a)	no further action being taken; or

 

		(b)	a request to change this agreement by the Customer; or

 

		(c)	a recommendation to change this agreement by the Supplier.

 

		2.2	Where a written request for an amendment is received from the Customer, the Supplier shall submit
two copies of a Change Control Note signed by the Supplier to the Customer within three weeks of the date of the request or inform
the Customer that the Supplier is unable to comply with such written request for a Change.

 

		2.3	A recommendation to amend this agreement by the Supplier shall be submitted directly to the Customer
in the form of two copies of a Change Control Note signed by the Supplier at the time of such recommendation. The Customer shall
give its response to the Change Control Note within three weeks.

 

		2.4	Each Change Control Note shall contain:

 

		(a)	the title of the Change;

 

		(b)	the originator and date of the request or recommendation for the Change;

 

		(c)	the reason for the Change;

 

		(d)	full details of the Change, including any specifications;

 

		(e)	the price, if any, of the Change;

 

		(f)	a timetable for implementation, together with any proposals for acceptance of the Change;

 

    	50

    	 

    

  

		(g)	a schedule of payments if appropriate;

 

		(h)	details of the likely impact, if any, of the Change on other aspects of this agreement including:

 

		(i)	the timetable for the provision of the Change;

 

		(ii)	the personnel to be provided;

 

		(iii)	the Charges;

 

		(iv)	the Documentation to be provided;

 

		(v)	the training to be provided;

 

		(vi)	working arrangements; and

 

		(vii)	other contractual issues;

 

		(i)	the date of expiry of validity of the Change Control Note; and

 

		(j)	provision for signature by the Customer and the Supplier.

 

		2.5	For each Change Control Note submitted by the Supplier the Customer shall, within the period of
the validity of the Change Control Note:

 

		(a)	allocate a sequential number to the Change Control Note; and

 

		(b)	evaluate the Change Control Note and, as appropriate:

 

		(i)	request further information; or

 

		(ii)	arrange for two copies of the Change Control Note to be signed by or on behalf of the Customer
and return one of the copies to the Supplier; or

 

		(iii)	notify the Supplier of the rejection of the Change Control Note.

 

		2.6	A Change Control Note signed by the Customer and by the Supplier shall constitute an amendment
to this agreement.

 

    	51

    	 

    

  

Schedule
8

Exit Plan and Service transfer arrangements

 

		1	Definitions

 

		1.1	The definitions in this paragraph apply in this Schedule 8.

 

	"Business Process Manual"	 	means the manual which is prepared by the Supplier and which details the business procedures which it follows in the provision of the Services.

 

		2	Purpose of Schedule

 

		2.1	The Supplier is required to ensure (to the extent such matters are within its reasonable control)
the orderly transition of the Services from the Supplier to the Customer or any Replacement Supplier in the event of a termination
of this agreement pursuant by the Customer pursuant to clause 27.1. This Schedule sets out the principles of the exit and service
transition arrangements which are intended to achieve this and upon which the Exit Plan shall be based.

 

		3	Exit Plan

 

The Exit Plan shall:

 

		(a)	address each of the issues set out in this Schedule 8 to facilitate the transition of the Services
from the Supplier to the Replacement Supplier and/or the Customer and shall ensure to the extent reasonably practicable that there
is no material disruption in the supply of the Services and no material deterioration in the quality of delivery of the Services;

 

		(b)	detail how the Services will transfer to the Replacement Supplier and/or the Customer including
details of the processes, documentation, data transfer, systems migration, security and the segregation of the Customer's technology
components from any technology components run by the Supplier or any of its sub-contractors (where applicable);

 

		(c)	specify the scope of the Transitional Assistance Services that may be required by the Customer,
any charges that would be payable for the provision of Transitional Assistance Services and detail how such services would be provided
(if required) during the Termination Period;

 

		(d)	provide a timetable and identify critical issues for carrying out the Transitional Assistance Services;
and

 

		(e)	set out the management structure to be put in place and employed during the Termination Period.

 

    	52

    	 

    

  

		4	Obligations during the Term

 

		4.1	The Supplier and the Customer shall each appoint an exit manager and provide written notification
of such appointment to each other within 6 months after the Effective Date. The Supplier's exit manager shall be responsible for
ensuring that the Supplier and its employees, agents and sub-contractors comply with this Schedule. The Supplier shall ensure that
its exit manager has the requisite authority to arrange and procure any resources of the Supplier as are reasonably necessary to
enable the Supplier to comply with this Schedule 8. The exit managers shall liaise with one another in relation to all issues relevant
to termination and all matters connected with this Schedule 8 and each party's compliance with it.

 

		4.2	On reasonable notice, the Supplier shall provide to the Customer and/or to its Replacement Supplier
(subject to the Replacement Supplier entering into reasonable written confidentiality undertakings with the Supplier), such material
and information as the Customer shall reasonably require in order to facilitate the preparation by the Customer of any invitation
to tender and/or to facilitate any potential Replacement Supplier undertaking due diligence (including in relation to the Services
Customer's Data, and Transferring Employees).

 

		5	Transitional Assistance Services

 

		5.1	The Customer shall be entitled to require the provision of Transitional Assistance Services by
sending the Supplier a notice to that effect (Transitional Assistance Notice) at any time prior to termination initiated
by the Customer pursuant to clause 27.1. The Transitional Assistance Notice shall specify:

 

		(a)	the date from which Transitional Assistance Services are required;

 

		(b)	the nature and extent of the Transitional Assistance Services required; and

 

		(c)	the period during which it is anticipated that Transitional Assistance Services will be required
(Transitional Period) (which shall continue no longer than 3 months after the date that the Supplier ceases to provide the
Services or, in the event that a Termination Period is specified by the Customer, no longer than the end of the Termination Period).

 

		5.2	The Customer shall have an option to extend the Transitional Period beyond the period specified
in the Transitional Assistance Notice by written notice to the Supplier provided that such extension shall not extend beyond the
maximum period referred to in paragraph 5.1(c) of this Schedule 8.

 

		5.3	The Customer shall have the right to terminate its requirement for Transitional Assistance Services
by serving not less than 20 days' notice upon the Supplier to such effect.

 

		5.4	The Transitional Assistance Services shall be provided in good faith and in accordance with Good
Industry Practice.

 

		5.5	The Supplier shall use reasonable endeavours to continue to provide the Services (or the relevant
part of them) during the Transitional Period in accordance with the Service Levels unless the parties agree otherwise pursuant
to paragraph 5.6 of this Schedule 8.

 

    	53

    	 

    

  

		5.6	Where the Supplier demonstrates to the Customer's reasonable satisfaction that transfer of the
Services during the Transitional Period will have an adverse effect on the Supplier's ability to meet a particular Service Level,
the parties shall vary the relevant Service Level and/or the applicable Service Credits to take account of such adverse effect.

 

		5.7	During the Transitional Period, the Supplier shall, in addition to providing the Services and the
Transitional Assistance Services, provide to the Customer any reasonable assistance requested by the Customer to allow the Services
to continue without interruption and to facilitate the orderly transfer of the Services. Any additional reasonable costs incurred
by the Supplier in this regard which are not already in the scope of the Transitional Assistance Services or the Exit Plan shall
be provided on a time-and-materials basis .

 

		5.8	The Customer and the Supplier acknowledge that the transition of the Services to the Replacement
Supplier may be phased over a period of time so that certain identified Services are transferred to the Replacement Supplier before
others.

 

		5.9	The Customer shall, at the Supplier's reasonable request, require the Replacement Supplier and
any agent or personnel of the Replacement Supplier, to enter into an appropriate confidentiality undertaking with the Supplier.

 

		5.10	The Supplier shall comply with all of its obligations contained in the Exit Plan.

 

		5.11	Each party shall comply with all of its obligations regarding its personnel in accordance with
Schedule 9 (Employees).

 

		5.12	Upon termination or expiry of the Transitional Assistance Services :

 

		(a)	the Supplier shall cease to use the Customer's Data and, at the direction of the Customer either:

 

		(i)	provide the Customer or Replacement Supplier with a complete and uncorrupted version of the Customer's
Data in electronic form (or such other format as reasonably required by the Customer); or

 

		(ii)	destroy (including removal from any hard disk) or return (at the Customer's option) all copies
of the Customer's Data not required to be retained by the Supplier for statutory compliance purposes and confirm in writing that
such destruction has taken place;

 

		(b)	the Supplier shall return to the Customer such of the following as are in the Supplier's possession
or control:

 

		(i)	all materials created by the Supplier under this agreement, the IPRs in which are owned by the
Customer;

 

		(ii)	any other equipment which belongs to the Customer; and

 

		(iii)	any items that have been on-charged to the Customer, such as consumables.

 

		5.13	The Transitional Assistance Services to be provided by the Supplier shall include (without limitation)
such of the following services as the Customer may specify:

 

    	54

    	 

    

  

		(a)	providing to the Customer an up-to-date Business Process Manual;

 

		(b)	providing assistance and expertise as reasonably necessary to examine all operational and business
processes (including all supporting documentation) in place;

 

		(c)	providing details of work volumes and staffing requirements over the preceding 12 months;

 

		(d)	analysing and providing information about capacity and performance requirements, processor requirements
and bandwidth requirements, and known planned requirements for capacity growth;

 

		(e)	providing appropriate training to those Customer and/or Replacement Supplier staff responsible
for internal training in connection with the provision of the Services;

 

		(f)	providing for transfer to the Customer and/or the Replacement Supplier of all knowledge reasonably
required for the provision of the Services which may, as appropriate, include information, records and documents; and

 

		(g)	answering all reasonable questions from the Customer and/or the Replacement Supplier regarding
the Services.

 

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Schedule
9

Employees

 

		1	Interpretation

 

		1.1	The definitions and rules of interpretation in this paragraph apply in this Schedule 9.

 

	"Staffing Information"	 	
        means in relation to all persons detailed on
        the Supplier's Provisional Staff List in an anonymised format and subject to the Data Protection Legislation:

        (a)      their
        ages, dates of commencement of employment and gender;

         

        (b)     their
        relevant notice periods and details of any contractual redundancy payment schemes;

         

        (c)     the
        current wages, salaries, profit sharing, incentive and bonus arrangements applicable to them;

         

        (d)     details
        of other employment-related benefits including (without limitation) medical insurance, life assurance, pension or other retirement
        benefit schemes, share option schemes and customer car schemes applicable to them;

         

        (e)      any
        outstanding claims brought by or on behalf of such individuals (including in respect of personal injury claims).

	 	 	 
	"Service Transfer Date"	 	means the date on which the Services (or any part of the Services), for whatever reason transfer from the Supplier to the Customer or any Replacement Supplier.
	"Supplier's Final Staff List"	 	means a list of the Transferring Employees. 
	"Supplier's Provisional Staff List"	 	means a list prepared and updated by the Supplier of all the Supplier's Personnel engaged in, or wholly or mainly assigned to, the provision of the Services or any part of the Services at the date of preparation of the list.

 

		2	Employment exit provisions

 

		2.1	This agreement envisages that subsequent to the commencement of this agreement, the identity of
the provider of the Services (or any part of the Services) may change (whether as a result of termination of this agreement, or
part, or otherwise) resulting in a transfer of the Services in whole or in part (Service Transfer). If a Service Transfer
is a relevant transfer for the purposes of the Employment Regulations then, in such event, the Customer or a Replacement Supplier
would inherit liabilities in respect of the Transferring Employees.

 

		2.2	The Supplier agrees that, subject to compliance with the Data Protection Legislation:

 

		(a)	within 20 days of the earliest of:

 

		(i)	receipt of a notification from the Customer of a Service Transfer or intended Service Transfer;
or

 

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		(ii)	receipt of the giving of notice of early termination of this agreement or any part thereof;

 

it shall provide the Supplier's
Provisional Staff List and the Staffing Information to the Customer or, at the direction of the Customer, to a Replacement Supplier
(to the extent that such information has not been previously provided to such person(s) and remains unchanged) and it shall provide
an updated Supplier's Provisional Staff List when reasonably requested by the Customer or, any Replacement Supplier; and

 

		(b)	at least 28 days before the Service Transfer Date, the Supplier shall prepare and provide to the
Customer and/or, at the direction of the Customer, to the Replacement Supplier, the Supplier's Final Staff List.

 

		2.3	The Supplier warrants that the Supplier's Provisional Staff List, the Supplier's Final Staff List
and the Staffing Information will be true and accurate in all material respects as at the date such lists and/or information is
prepared.

 

		2.4	In connection with a relevant transfer pursuant to paragraph 2.1 of this Schedule 9, the Supplier
shall comply with its obligations under Regulation 11 of the Employment Regulations.

 

		2.5	In connection with a relevant transfer to which the Employment Regulations apply, the parties agree
that:

 

		(a)	the Supplier shall perform and discharge all its material legal obligations in respect of all the
Transferring Employees for its own account up to and including the Service Transfer Date. The Supplier shall indemnify the Customer
and any Replacement Supplier in full for and against all claims costs, expenses or liabilities whatsoever and howsoever arising,
incurred or suffered by the Customer or any Replacement Supplier including without limitation reasonable legal expenses and other
professional fees (together with any VAT thereon) in relation to:

 

		(i)	the Supplier's failure to perform and discharge any such obligation;

 

		(ii)	any act or omission by the Supplier on or before the Service Transfer Date in relation to the Transferring
Employees;

 

		(iii)	all and any claims in respect of all emoluments and outgoings in relation to the Transferring Employees
(including without limitation all wages, bonuses, PAYE, National Insurance contributions, pension contributions and otherwise)
payable in respect of any period on or before the Service Transfer Date;

 

		(iv)	any claim made by or in respect of any person employed or formerly employed by the Supplier other
than a Transferring Employee for which it is alleged the Customer or any Replacement Supplier may be liable by virtue of this agreement
and/or the Employment Regulations; and

 

		(v)	any act or omission of the Supplier in relation to its obligations under Regulation 13 of the Employment
Regulations except to the extent that the liability arises from the Customer or Replacement Supplier's failure to comply with the
Employment Regulations.

 

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		2.6	The Supplier shall indemnify the Customer and any Replacement Supplier in respect of any claims
arising from any act or omission of the Supplier in relation to any other Supplier's Personnel who is not a Transferring Employee
during any period whether before, on or after the Service Transfer Date.

 

		2.7	The Customer shall indemnify the Supplier in full for and against all claims costs, expenses or
liabilities whatsoever and howsoever arising, incurred or suffered by the Supplier including without limitation reasonable legal
expenses and other professional fees (together with any VAT thereon) arising from or as a result of:

 

		(a)	any act or omission by the Customer or the Replacement Supplier relating to a Transferring Employee
occurring on or after the Service Transfer Date;

 

		(b)	all and any claims in respect of all emoluments and outgoings in relation to the Transferring Employees
(including without limitation all wages, bonuses, PAYE, National Insurance contributions, pension contribution and otherwise) accrued
and payable after the Service Transfer Date;

 

		(c)	any failure by the Customer or a Replacement Supplier to comply with its or their obligations under
the Employment Regulations; and

 

		(d)	the termination of employment of any of the Transferring Employees by the Customer or a Replacement
Supplier on or after the Service Transfer Date.

 

		2.8	The parties shall co-operate (and the Customer shall procure that any Replacement Supplier shall
co-operate) to ensure that any of their obligations pursuant to the Employment Regulations and as a consequence of a Service Transfer
will be fulfilled.

 

		2.9	The Customer shall assume (or shall if applicable procure that the Replacement Supplier shall assume)
the outstanding obligations of the Supplier in relation to any Transferring Employees in respect of accrued holiday entitlements
and accrued holiday remuneration prior to the Service Transfer Date.

 

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APPENDIX 1

ACCOUNTING MONTHS

 

	Month End Date	Year End
	 	 
	23/01/2015	 
	20/02/2015	 
	27/03/2015	Year End FY15
	24/04/2015	 
	22/05/2015	 
	26/06/2015	 
	24/07/2015	 
	21/08/2015	 
	25/09/2015	 
	23/10/2015	 
	20/11/2015	 
	25/12/2015	 
	22/01/2016	 
	19/02/2016	 
	25/03/2016	Year End FY16
	22/04/2016	 
	20/05/2016	 
	24/06/2016	 
	22/07/2016	 
	19/08/2016	 
	23/09/2016	 
	21/10/2016	 
	18/11/2016	 
	23/12/2016	 
	20/01/2017	 
	17/02/2017	 
	24/03/2017	Year End FY17
	21/04/2017	 
	19/05/2017	 
	23/06/2017	 
	21/07/2017	 
	18/08/2017	 
	22/09/2017	 
	20/10/2017	 
	17/11/2017	 
	22/12/2017	 
	19/01/2018	 
	16/02/2018	 
	30/03/2018	Year End FY18
	27/04/2018	 

 

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	25/05/2018	 
	29/06/2018	 
	27/07/2018	 
	24/08/2018	 
	28/09/2018	 
	26/10/2018	 
	23/11/2018	 
	28/12/2018	 
	25/01/2019	 
	22/02/2019	 
	29/03/2019	Year End FY19
	26/04/2019	 
	24/05/2019	 
	28/06/2019	 
	26/07/2019	 
	23/08/2019	 
	27/09/2019	 
	25/10/2019	 
	22/11/2019	 
	27/12/2019	 
	24/01/2020	 
	21/02/2020	 
	27/03/2020	Year End FY20

 

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	Signed by [NAME]	 
	for and on behalf of KLEENEZE LIMITED	Director

 

	Signed by TIM KOWALSKI	 
	for and on behalf of EXPRESS GIFTS LIMITED 	Director

 

    	61

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