Document:

Exhibit 4.25

 

EQUITY
PURCHASE AGREEMENT

 

BY
AND AMONG

 

CBD
ACQUISITION HOLDINGS, INC.,

A
DELAWARE CORPORATION,

 

DONALD
P. REED,

INDIVIDUALLY,

 

GREG
FOx,

INDIVIDUALLY,

 

JOSEPH
DUEY,

INDIVIDUALLY,

 

CHARLES
HORNE,

INDIVIDUALLY,

 

AND

 

JACKSON
HORNE,

INDIVIDUALLY.

 

JULY
1, 2014

 

    

     

    

 

Table
of Contents

 

	ARTICLE I PURCHASE AND SALE OF OWNERSHIP INTEREST	4
	1.1	Purchase and Sale of Ownership Interest.	4
	1.2	Purchase Price	4
	ARTICLE II CLOSING; CLOSING DELIVERIES	6
	2.1	Closing Date	6
	2.2	Closing Deliveries.	6
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER	7
	3.1	Company Status	7
	3.2	Authority	7
	3.3	No Conflict; Government Authorizations	8
	3.4	Capitalization.	8
	3.5	Financial Statements.	8
	3.6	Absence of Certain Changes; Undisclosed Liabilities.	9
	3.7	Taxes	11
	3.8	Intellectual Property	12
	3.9	Legal Proceedings	13
	3.10	Compliance with Laws; Permits.	13
	3.11	[Intentionally omitted].	13
	3.12	Employee Matters and Benefit Plans.	14
	3.13	Material Contracts	14
	3.14	Material Customers and Suppliers	16
	3.15	Properties.	16
	3.16	Sufficiency of Assets.	17
	3.17	Labor and Employment.	17
	3.18	Insurance.	18
	3.19	Brokers	18
	3.20	Transactions with Affiliates	18
	3.21	Investment.	18
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PURCHASER	19
	4.1	Corporate Status	19
	4.2	Authority	19
	4.3	Issuance of Buyer Common Stock.	20
	4.4	No Conflict; Required Filings	20
	4.5	Brokers	20
	ARTICLE V COVENANTS	20
	5.1	[Intentionally omitted]	20
	5.2	[Intentionally omitted]	20
	5.3	[Intentionally omitted]	20
	5.4	Publicity.	20
	5.5	Books and Records.	21
	5.6	[Intentionally omitted]	21
	5.7	Expenses	21

 

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	5.8 	[Intentionally omitted].	21
	5.9 	Employees	21
	5.10 	[Intentionally omitted].	21
	5.11 	[Intentionally omitted].	21
	5.12 	Non-Solicitation of Employees; Limited Non-Competition Covenant.	22
	5.13 	Tax Matters	22
	5.14 	Business Confidential Information.	23
	5.15 	Other Transactions	23
	ARTICLE VI INTENTIONALLY OMITTED	24
	ARTICLE VII INTENTIONALLY OMITTED	24
	ARTICLE VIII INTENTIONALLY OMITTED	24
	ARTICLE IX SURVIVAL; INDEMNIFICATION	24
	9.1 	Survival of Representations, Warranties and Agreements	24
	9.2 	Indemnification	24
	9.3 	Limitations.	25
	9.4 	Indemnification Procedures.	25
	9.5 	Exclusive Remedy.	26
	ARTICLE X MISCELLANEOUS	26
	10.1 	Notices.	26
	10.2 	Certain Definitions; Interpretation.	26
	10.3 	Severability.	30
	10.4 	Entire Agreement; No Third-Party Beneficiaries	30
	10.5 	Amendment; Waiver.	30
	10.6 	Binding Effect; Assignment.	30
	10.7 	Disclosure Schedule.	31
	10.8 	Governing Law; Jurisdiction	31
	10.9 	Construction.	31
	10.10 	Counterparts	31
	10.11 	Facsimile Signature.	31
	10.12 	Sellers’ Designee	31
	10.13 	Representation of Sellers.	32

 

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EQUITY
PURCHASE AGREEMENT

 

THIS
EQUITY PURCHASE AGREEMENT (this “Agreement”) is made as of July 1, 2014, by and among CBD ACQUISITION HOLDINGS,
INC., a Delaware corporation (“Purchaser”), on the one hand, and each of DONALD P. REED, GREG FOX, JOSEPH
DUEY, CHARLES HORNE, AND JACKSON HORNE, individually (each, a “Seller” and collectively, “Sellers”)
on the other hand.

 

WHEREAS,
Sellers hold of record and own one hundred percent (100%) of the equity, membership and ownership interests (collectively the
“Ownership Interest”) in Green Earth Developers, LLC, a Georgia limited liability company (the “Company”);
and

 

WHEREAS,
upon the terms and subject to the conditions contained in this Agreement, Purchaser desires to acquire from Sellers all of the
Ownership Interest, and Sellers desire to sell to Purchaser all of the Ownership Interest, so that thereafter Purchaser shall
own one hundred percent (100%) of the Ownership Interest of the Company.

 

NOW,
THEREFORE, in consideration of the mutual promises, covenants and agreements herein contained, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

ARTICLE
I

PURCHASE AND SALE OF OWNERSHIP INTEREST

 

1.1          Purchase
and Sale of Ownership Interest. Subject to the terms and conditions of this Agreement, at the Closing (as defined below),
which is occurring contemporaneously with the execution of this Agreement, Sellers shall sell, assign, transfer, convey and deliver
to Purchaser the Ownership Interest free and clear of all Encumbrances, and Purchaser shall deliver (i) to accounts specified
by the Sellers’ Designee on behalf of each Seller, the respective amounts of the Cash Portion (as defined below) for each
Seller as set forth on Exhibit 1.1 hereto, (ii) the Share Consideration (as defined below) for each Seller as set forth on Exhibit
1.1 hereto, and (iii) the Additional Reed Share Consideration (as defined below) to Donald P. Reed (“Reed”).

 

1.2          Purchase
Price. The aggregate purchase price (the “Purchase Price”) to be paid for the Ownership Interest acquired
by Purchaser pursuant to this Agreement shall be One Million Five Hundred Thousand and No/100 Dollars ($1,500,000.00) (the “Cash
Portion”), plus the Share Consideration, plus the Additional Reed Share Consideration, payable as provided below:

 

(a)            Cash
Payment at Closing. Purchaser shall deliver the Cash Portion of the Purchase Price in two (2) installments. The first such
installment of One Million and No/1 00 Dollars ($1,000,000) shall be delivered by Purchaser at the Closing. The second such installment
of Five Hundred and No/100 Dollars ($500,000) shall be delivered by Purchaser on or before Tuesday, July 15, 2014. Each installment
of the Cash Portion of the Purchase Price shall be delivered by Purchaser in the respective amounts, and to the accounts specified
by Sellers’ Designee by wire transfer of immediately available funds pursuant to wire transfer instructions that will be
provided by Sellers’ Designee not later than three (3) days prior to the Closing Date. Sellers’ Designee shall pay
to Sellers all amounts owing to them by virtue of this Agreement.

 

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(b)             
Share Consideration. Purchaser hereby
agrees to cause to be issued to the Sellers the respective number of restricted CBD Shares set forth on Exhibit 1.1, comprising
375,000 CBD Shares in the aggregate (the “Share Consideration”). The parties agree that such CBD Shares shall
be subject to the terms and conditions of Sections 1.2(d) and 1.2(e) below.

 

(c)               
Additional Reed Share Consideration. As
additional consideration for the portion of the Ownership Interest being sold by Reed hereunder, Purchaser hereby agrees to cause
to be issued to Reed an additional 125,000 restricted CBD Shares (the “Additional Reed Share Consideration”).
The parties agree that the Additional Reed Share Consideration shall be subject to the terms and conditions of Sections 1.2(d),
1.2(e) and 1.2(f) below.

 

(d)           
Share Issuance & Restriction. The
restricted CBD Shares comprising the Share Consideration and Additional Reed Share Consideration shall be evidenced by book entry
accounts maintained by CBD’s transfer agent for the CBD Shares in the name of each of the respective Sellers. Each Seller
shall be entitled to all of the rights of a shareholder under applicable law with respect to the CBD Shares issued to him hereunder,
except for the restrictions set forth in this Agreement and under applicable law. In addition to any and all other restrictions
hereunder or under applicable law, Sellers shall not sell, assign, transfer, pledge or otherwise encumber any of the CBD Shares
comprising the Share Consideration or the Additional Reed Share Consideration until the expiration of one hundred eighty (180)
days after the Closing Date, and all CBD Shares comprising the Share Consideration and the Additional Reed Share Consideration
shall remain in the accounts maintained by CBD’s transfer agent in the name of each of the respective Sellers, and none
of the Sellers shall transfer any such shares to any brokerage account, until the expiration of such one hundred eighty (180)
day period.

 

(e)             
Share Buy-Back Provisions. If any Seller
fails, within ten (10) days following written demand therefor from a Purchaser Indemnified Party to Sellers’ Designee, to
pay for any amount of such Seller’s Liabilities under Section 9.2(a) below for which such Seller is responsible thereunder
after taking into account the provisions in Article IX (the “Indemnity Breach Amount”), Purchaser, CBD or its
designee shall have the right and option (an “Indemnity Buy-Back Option”) to purchase from such Seller a number
of the CBD Shares then held by such Seller equal to the Indemnity Share Number (defined below), for a total purchase price of
One Dollar ($1.00). Each Indemnity Buy-Back Option may be exercised by written notice to the Sellers’ Designee (an “Exercise
Notice”) at any time following expiration of the above-referenced 10-day period, provided that the relevant Seller has
not previously satisfied the Indemnity Breach Amount. Such Seller shall transfer such CBD Shares to the person or entity designated
in the Exercise Notice, including execution of such share assignment or transfer documentation as required by CBD and/or its transfer
agent, as soon as possible, and no later than three (3) business days following delivery of the relevant Exercise Notice to Sellers’
Designee. As used herein, “Indemnity Share Number” means the Indemnity Breach Amount divided by Four Dollars
($4.00). For any Indemnity Breach Amount fully satisfied under this Section 1.2(e), such Seller shall have no further liability
for the applicable Liability under Section 9.2(a).

 

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(f)             Additional
Reed Share Buy-Back Provisions. The CBD Shares comprising the Additional Reed Share Consideration shall be subject to vesting
as follows: (i) 41,666 of such CBD Shares shall be vested upon issuance; (ii) 41,667 of such CBD Shares shall be vested on the
first (1st) anniversary of the Closing Date, provided that Reed remains employed by the Company as of such anniversary
date, and (iii) 41,667 of such CBD Shares shall be vested on the second (2nd) anniversary of the Closing Date, provided
that Reed remains employed by the Company as of such 2nd anniversary date. All of the CBD Shares comprising the Additional
Reed Share Consideration that have not vested pursuant to the preceding sentence are referred to as “Unvested Shares”.
In addition to any and all other restrictions hereunder or under applicable law, Reed shall not sell, assign, transfer, pledge
or otherwise encumber any Unvested Shares. If, prior to the second (2nd) anniversary of the Closing Date, Reed’s
employment with the Company terminates for any reason other than a termination by the Company without Cause (as defined in the
Employment Agreement being executed and delivered by Reed hereunder), then Purchaser, CBD or its designee shall have the right
and option (the “Reed Buy-Back Option”) to purchase from Reed the Unvested Shares for a total purchase price
of One Dollar ($1). The Reed Buy- Back Option may be exercised by written notice to Reed (a “Reed Exercise Notice”)
at any time following termination of Reed’s employment with the Company. Reed shall transfer all Unvested Shares to
the person or entity designated in the Reed Exercise Notice, including execution of such share assignment or transfer documentation
as required by CBD and/or its transfer agent, as soon as possible, and not more than three (3) business days, following delivery
of the Reed Exercise Notice.

 

ARTICLE
II

CLOSING; CLOSING DELIVERIES

 

2.1         Closing
Date. The closing of the transactions contemplated by this Agreement (the “Closing”) is taking place at
the offices of Purchaser’s counsel, Funkhouser Vegosen Liebman & Dunn Ltd., 55 W. Monroe Street, Suite 2300, Chicago,
Illinois 60603, contemporaneously with the execution of this Agreement. The date on which the Closing occurs is referred to herein
as the “Closing Date.” Assuming that the Closing occurs in accordance with this Section 2.1, the transfer of
the Ownership Interest pursuant to Section 1.1 shall be deemed to have become effective at 11:59 p.m. on the Closing Date, in
each relevant time zone where assets of the Company are located on the Closing Date (the “Effective Time”).

 

2.2         Closing
Deliveries. At the Closing,

 

(a)            Purchaser
shall deliver to Sellers:

 

(i)                
evidence of the wire transfer referred to in
Section 1.2(b); and

 

(ii)             
 evidence of the issuance of the CBD Shares comprising
the Share Consideration and Additional Reed Share Consideration referred to in Section 1.2(d).

 

(b)           Sellers
shall deliver to Purchaser:

 

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(i)                An
Assignment of Ownership Interest from each Seller to Purchaser, in the form attached hereto as Exhibit 2.2, and all such other
documents as may be necessary or reasonably requested by Purchaser’s counsel to carry out or otherwise confirm the transactions
contemplated by such assignments;

 

(ii)             
the Employment Agreements, duly executed by the
Key Executives, as provided in Section 5.9 below; and

 

(iii)            
any and all consents of any third parties or
government agencies that are required in connection with the transactions contemplated hereby under any applicable law, rule or
regulation or under any contract or instrument to which the Company is a party or by which it is bound.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Sellers
hereby represent and warrant, severally and not jointly, to Purchaser on the date hereof and at Closing (except to the extent
such representations and warranties are expressly made as of an earlier date, in which case such representations and warranties
are made as of such earlier date), that, except as set forth on the disclosure schedule attached hereto (the “Disclosure

Schedule”):

3.1         Company
Status. The Company is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization
and (a) has all requisite power and authority to carry on its business as it is now being conducted, and (b) is duly qualified
to do business and is in good standing in each of the jurisdictions in which the ownership, operation or leasing of its properties
and assets and the conduct of its business requires it to be so qualified, licensed or authorized. Sellers have Made Available
to Purchaser (A) a copy of the articles of organization, operating agreement, and other organizational and governing documents
of the Company, each as in effect on the date hereof, and (B) copies of the minutes of all meetings of the members and managers
of the Company held since October 3, 2012 until the date hereof. The Company is not now nor has it ever been in violation of its
organizational documents in any material respect. Prior to the Closing Date, the Company has had no subsidiaries or partially
owned affiliates.

 

3.2          Authority.
All company acts and other proceedings (including any manager or member approvals) required to be taken by Sellers or the
Company to authorize the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
hereby have been (or, in the case of actions to be taken at Closing, will be as of the Closing) duly and properly taken. This
Agreement has been duly executed and delivered by Sellers and (assuming due authorization and delivery by Purchaser) this Agreement
constitutes a valid and binding obligation of each of the Sellers, enforceable against each of the Sellers in accordance with
its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws
relating to or affecting creditors’ rights generally or by general equitable principles (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

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3.3         No
Conflict; Government Authorizations.

 

(a)                 
The execution and delivery of this Agreement
does not, and the consummation of the transactions contemplated hereby will not (with or without notice or lapse of time, or both),
conflict with, or result in any violation of or default under, or give rise to a right of termination, cancellation or acceleration
of any obligation or to loss of a benefit under, or result in the creation of any Encumbrance upon any of the properties or assets
of Sellers or the Company under any provision of (i) the articles of organization, operating agreement, or other organizational
or governing documents of the Company, (ii) any Material Contract to which any of the Sellers or the Company is party or by which
any such person or entity is bound or (iii) any material Permit, Governmental Order or Law applicable to any of Sellers or the
Company or their respective property or assets. Section 3.3(a) of the Disclosure Schedule sets forth a list of Material Contracts
that require consent or notice in connection with the delivery and execution of this Agreement or the consummation of the transactions
contemplated hereby.

 

(b)               
No consent of, or registration, declaration,
notice or filing with, any Governmental Authority is required to be obtained or made by any of Sellers or the Company in connection
with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated hereby.

 

3.4         Capitalization.
Sellers own of record and beneficially and have good and marketable title to all of the Ownership Interest, which interest
constitutes one hundred percent (100%) of the equity ownership of the Company. Neither the Company nor any of the Sellers is a
party to any agreement calling for the issuance, sale or transfer of any Ownership Interest or any other equity securities of
or similar interest in the Company. Sellers are not and will not be required to give any notice to or obtain any Consent from
any Person in connection with the execution and delivery of this Agreement. There are no outstanding or authorized options, warrants,
conversion rights, or other contracts or commitments that could require Sellers or the Company to issue, sell, or otherwise cause
to become issued any more of the Company’s Ownership Interest or any other equity securities of or similar interest in the
Company.

 

3.5         Financial
Statements.

 

(a)                     
Sellers have furnished to Purchaser: (1) unaudited
annual financial statements of the Company for the years ended December 31, 2012 and 2013 (the “Annual Financials”),
(2) an unaudited statement of income of the Company for the 3 month period ended March 31, 2014 (the “Income Statement”),
and (3) an unaudited consolidated balance sheet of the Company as of March 31, 2014 (the “Balance Sheet”).
The Annual Financials, Income Statement, and the Balance Sheet, including the notes pertaining to each, are hereafter collectively
referred to as the “Financial Statements.” The Financial Statements present accurately, fairly, and completely
in all material respects the financial position of the Company.

 

(b)                      
There are no operations, assets or liabilities
represented in the Financial Statements other than those of the Business as operated by the Company.

 

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(c)                                 
All of the accounts receivable, notes receivable
and other receivables of the Company or the Business as of the Closing Date (“Receivables”) arose in the ordinary
course of business, consistent with past practices, represented bona fide claims against debtors for sales and other charges,
and have been collected or are collectible in the book amounts thereof provided for in the Balance Sheet. There are no doubtful
accounts that would be subject to allowances in accordance with GAAP, consistently applied and in accordance with the Company’s
past practices. The Receivables arising after the date of the Balance Sheet and before the Closing Date arose or shall arise in
the ordinary course of business, consistent with past practices, represented or shall represent bona fide claims against debtors
for sales and other charges, and have been collected or are collectible in the book amounts thereof. None of the Receivables are
subject to any claim of offset, recoupment, setoff or counter-claim, and none of the Sellers has any knowledge of any specific
facts or circumstances (whether asserted or unasserted) that could give rise to any such claim. No Receivables are contingent
upon the performance by any Seller of any obligation or contract other than normal warranty repair and replacement. No Person
has any lien on any Receivable. Section 3.5(c) of the Disclosure Schedule sets forth an accurate list of the Receivables, an aging
of the Receivables in the aggregate and by customer, and indicates the amounts of allowances for doubtful accounts and warranty
returns, in each case as of May 31, 2014. Section 3.5(c) of the Disclosure Schedule sets forth such amounts of the Receivables
which are subject to asserted warranty claims by customers and reasonably detailed information regarding asserted warranty claims
made within the last year, including the type and amounts of such claims. Such Receivables are collectible in the amounts shown
on Section 3.5(c) of the Disclosure Schedule, net of any allowances for doubtful accounts reflected therein. Without limiting
the generality of the foregoing, but subject to the following sentence, Sellers represent, warrant and agree that if, on or before
December 15, 2014, the Company has not received the full holdback amount of $272,569 (the “Shirley Holdback Amount”)
due under the contract between the Company and S&C Electric Company effective as of May 28, 2013 pertaining to the project
known as Greenwood Meadows Solar Project Sellers shall, promptly upon written notice thereof, pay to the Company the amount of
such Shirley Holdback Amount that has not been paid. The Seller’s payment obligation in the preceding sentence shall not
apply to any reduction in the collected Shirley Holdback Amount related to or in settlement by the Company of the dispute with
Sunstall that is referenced in Sections 3.5(c), 3.9, and 10.2(a)(xx) of the Disclosure Schedule. Notwithstanding anything to the
contrary contained in this Agreement, the amount of Sellers’ obligation with respect to the Shirley Holdback Amount shall
not be subject to any of the limitations, or included in calculating the basket or any of the caps on liability under Sections
9.3 or 9.5 below.

 

3.6           Absence
of Certain Changes; Undisclosed Liabilities.

 

(a)            Except
as set forth on Section 3.6 of the Disclosure Schedule, since the Reference Date and through the date of this Agreement, the Company
has operated in the ordinary course of business consistent with past practice, and there has not been any:

 

(i)           
adoption of any change in the Company’s
articles of organization or operating agreement or other similar organization or governing documents;

 

(ii)         
adoption of a plan or agreement of complete or
partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization of the Company;

 

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(iii)           
(A) issuance, sale, transfer, pledge, disposition or encumbrance of the Ownership Interest or any other securities of the Company,
(B) split, combination, subdivision or reclassification of the Ownership Interest or any other securities of the Company, (C)
declaration, setting aside or payment of any dividend or other distribution with respect to the Ownership Interest or any other
securities of the Company or (D) redemption, purchase or other acquisition, directly or indirectly, any portion of the Ownership
Interest or any other securities of the Company;

 

(iv)         
(A) increase of the benefits under any Plans or modification of any Plan, (B) increase in compensation payable or paid to members,
managers, officers or directors, or increase in compensation payable or paid to employees or contractors generally and not in
the ordinary course of business consistent with past practice, or (C) agreement to pay any incentive, bonus, profit sharing or
severance or retention pay or similar amounts, to any member, manager, director or officer or, except in the ordinary course of
business consistent with past practice, any other employee or contractor of the Company;

 

(v)           
entry into or consummation of any transaction involving the acquisition of the business, shares, or assets or other properties
of any other Person, except for acquisitions of inventory, raw materials or other business assets in the ordinary course of business
consistent with past practice;

 

(vi)          
sale, lease, license or other disposition of any assets, tangible or intangible, or property;

 

(vii)        
other than in the ordinary course of business consistent with past practice or as otherwise required by the Code or applicable
Laws, (A) making or rescission of any Tax election with respect to the Company or filing of any amended Tax Returns, (B) change
in any of its methods of reporting income or deductions for Tax purposes, (C) compromise of any Tax liability of the Company or
(D) issuance of a waiver to extend the period of limitations for the payment or assessment of any Tax;

 

(viii)      
(A) incurrence of any Indebtedness; (B) assumption, guarantee, endorsement or otherwise becoming liable or responsible (whether
directly, contingently or otherwise) for the obligations of any other Person; (C) making of any loans, advances or capital contributions
to or investments in any other Person; or (D) mortgage or pledge of any assets, tangible or intangible, or creation or sufferance
of any Encumbrance thereupon (other than Permitted Encumbrances);

 

(ix)          
except as may be required as a result of a change in GAAP, change in any of the accounting principles or practices;

 

(x)           
writing up or down of any of the assets individually or in the aggregate other than as may be required by GAAP;

 

(xi)           settlement
or compromise of any claims, actions, suits, investigations or proceedings;

 

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(xii)          
entry into any Contract that would constitute
a Material Contract (as hereinafter defined) or any material amendment or modification of, or termination of, any contract that
would constitute a Material Contract;

 

(xiii)         
increase or decrease, in any material respect,
in capital expenditures;

 

(xiv)      
material damage, destruction, or casualty loss
(whether or not covered by insurance) to any asset or property which has not heretofore been repaired or restored; or

 

(xv)          
agreement or commitment to do any of the foregoing.

 

(b)            
Since the Reference Date, there has not been
a Material Adverse Effect.

 

(c)             
Except as and to the extent reflected on, or
adequately reserved for on, the Balance Sheet and immaterial Liabilities incurred since the date of the Balance Sheet in the ordinary
course of business consistent with past practice, the Company does not have any Liabilities. The only business, assets and Liabilities
of the Company are those directly arising out of the operation of the Business, as currently conducted.

 

3.7           Taxes.

 

(a)          
The Company has (i) duly and timely filed all
Tax Returns required to be filed by it (taking into account all applicable extensions) with the appropriate Taxing Authority,
and (ii) paid all Taxes owed by such Company (whether or not shown as due on any Tax Return). All such Tax Returns (including
information provided therewith or with respect thereto) are true and correct in all material respects.

 

(b)         
Sellers have Made Available to Purchaser true,
correct and complete copies, or pro forma or redacted copies, of all material Tax Returns filed by or with respect to the Company,
examination reports and statements of deficiencies including the Company for taxable periods, or transactions consummated, for
which the applicable statutory period of limitations have not expired.

 

(c)         
There are no Encumbrances for Taxes upon any
property or assets of the Company, except for Taxes that are not due and payable.

 

(d)         
There is no audit, examination, deficiency, refund
litigation or proposed adjustment with respect to any amount of Taxes pending or in progress or threatened with respect to any
Taxes of the Company. As of the date hereof, the Company has not received notice in writing of any claim made by a Taxing Authority
in a jurisdiction where such entity does not file a Tax Return, asserting that such entity is or may be subject to taxation by
that jurisdiction, where such claim has not been resolved favorably to such entity. All deficiencies for Taxes asserted or assessed
against the Company have been fully and timely paid, settled, disputed or properly reflected in the Financial Statements.

 

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(e)              
There are no outstanding written requests, agreements,
consents or waivers to extend the statutory period of limitations applicable to any claim for, or the period for the collection
or assessment or reassessment of any Taxes or Tax deficiencies against any of the Company.

 

(f)                The Company has withheld (or will withhold) from
their respective employees, independent contractors, creditors, and third parties and timely paid to the appropriate Governmental
Authority proper and accurate amounts in all respects for all periods ending on or before the Closing Date in compliance with
all applicable information reporting and Tax withholding and remitting requirements under U.S. federal, state and local, and non-U.S.
Tax laws.

 

(g)              
With respect to the Business, none of Sellers
nor the Company is a party to, is bound by or has any obligation under any Tax sharing, Tax allocation or Tax indemnity agreement
or similar contract or arrangement (collectively, “Tax Sharing Agreements”) or has any liability for Taxes
of any Person under Treas. Reg. 1.1502-6, Treas. Reg. 1.1502-78 or similar provision of state, local or foreign law, as a transferee
or successor, by contract, or otherwise.

 

(h)              
The Company has not executed or entered into
a closing agreement pursuant to Section 7121 of the Code or any similar provision of state, local or foreign Law, and is the Company
is not subject to any private letter ruling of the IRS or comparable ruling of any other Governmental Authority.

 

(i)               
No power of attorney has been granted by the
Company related to Taxes of any such entity, which power of attorney is currently in force.

 

3.8          Intellectual
Property.

 

(a)           
Section 3.8(a) of the Disclosure Schedule sets
forth a true and complete list of (i) all registered Intellectual Property owned by the Company, (ii) all applications for such
registrations and (iii) all Intellectual Property used by the Company in the operation of the Business. As to each item, the Disclosure
Schedule specifies, as applicable, the owner of such item, the jurisdictions in which such item is issued or registered or in
which an application for issuance or registration has been filed, and the issuance, registration or application numbers and dates
with respect to such item, except as to Intellectual Property that is “off the shelf” software.

 

(b)           
The Company owns, free and clear of all Encumbrances,
or has valid and enforceable rights to use all of, the Intellectual Property that is required for the current conduct of the Business.

 

(c)           
All of the rights of the Company in the Intellectual
Property owned by the Company are valid and enforceable. The Company and has taken all commercially reasonable actions to maintain
and protect, in all material respects, the Intellectual Property owned by or purported herein to be owned by such Company, and
the confidentiality of its trade secrets.

 

    12 

     

    

 

(d)           
To the best of Sellers’ knowledge, the
Company’s operations do not, nor does the use, development, sale or license of the products and services of the Company,
dilute, misappropriate or otherwise violate the Intellectual Property of any third Person. Thereare no claims, actions, suits
or proceedings pending or threatened against the Company that (i) contest the right of the Company to use any of the Intellectual
Property owned or used by the Company or in the Business or (ii) oppose or attempt to cancel any rights of the Company in or to
any Intellectual Property.

 

(e)            
There are no claims pending or threatened by
Sellers or the Company against any third Person with respect to any Intellectual Property owned or licensed by the Company and,
to the best of Sellers’ knowledge, no third Person is infringing, diluting, misappropriating or otherwise violating any
Intellectual Property currently owned or used by the Company.

 

(f)             
For purposes of this Agreement, “Intellectual
Property” means all (i) U.S. and foreign patents and applications therefor and all divisionals, reissues, renewals,
registrations, confirmations, re-examinations, certificates of inventorship, extensions, continuations and continuations-in-part
thereof, (ii) U.S. and foreign trademarks, trade dress, service marks, service names, trade names, domain names, brand names,
logo or business symbols, whether registered or unregistered, and pending applications to register the same, including all extensions
and renewals thereof and all goodwill associated therewith, (iii) U.S. and foreign copyrights in writings, designs, software,
mask works or other works, whether registered or unregistered, and pending applications to register the same, (iv) confidential
or proprietary know-how, trade secrets, methods, processes, practices, formulas and techniques, (v) computer software programs
and software systems and (vi) all “white papers,” case studies, published articles, and any proprietary presentation
materials.

 

3.9          Legal
Proceedings. Except as set forth on Section 3.9 of the Disclosure Schedule, there are no actions, suits, governmental inquiries,
proceedings, or whistle-blower complaints pending or, to the best of Sellers’ knowledge, threatened against the Company
or any of their respective properties or the Business. None of the Company or any of its properties or assets or the Business
is or are subject to any Governmental Order and, to the best of Sellers’ knowledge, there are no such Governmental Orders
threatened to be imposed.

 

3.10
      Compliance with Laws; Permits. To the best of Sellers’ knowledge, the Company has
been in compliance in all material respects with all Laws and has not received any written notice of any failure to comply in
any material respect with any such Laws. The Company has obtained all Permits that are necessary for the current conduct of the
Business. All such Permits are in full force and effect, except where the failure to be in full force and effect would not reasonably
be expected, individually or in the aggregate, to give rise to material Liability or interfere, in any material respect, with
the current conduct of the Business. To the best of Sellers’ knowledge, the Company is not in violation or default (other
than immaterial violations or defaults) of any Permits. Except as set forth on Section 3.10 of the Disclosure Schedule, the Company
has not received any notification from any Governmental Authority threatening to revoke any Permit.

 

3.11       
[Intentionally omitted].

 

    13 

     

    

 

3.12
       Employee Matters and Benefit Plans.

 

(a)            There
are no employment, retention, bonus, deferred compensation, pension, option, equity purchase, equity appreciation right, phantom
stock, equity-based compensation, incentive, profit-sharing or retirement plan, arrangement or agreement, medical, vacation, retiree
medical, severance pay plan, or any other agreement (including any employment, severance, change in control or similar agreement)
or Code Section 125 “cafeteria plan”, flexible benefit, employee loan, educational assistance plan or material fringe
benefit plan or arrangement that is sponsored, contributed to or maintained by the Company, or that affects or covers any current
or former employee of the Company, (including “employee benefit plans” within the meaning of Sections 3(1), 3(2) and
3(3) of ERISA (collectively, the “Plans”).

 

(b)          
The Company has no plan, contract or commitment,
whether legally binding or not, to create any employee benefit or compensation plans, policies, or arrangements.

 

(c)          
Neither the execution and delivery of this Agreement
nor the consummation of the transactions contemplated by this Agreement will (either alone or in combination with another event)
(i) entitle any current or former employee or contractor of the Company to severance pay, unemployment compensation or any other
payment that will result in a liability to the Company or the Purchaser, (ii) result in any payment that could individually or
in combination with any other such payment constitute an “excess parachute payment” to a “disqualified individual”
as those terms are defined in Section 280G of the Code, without regard to whether such payment is reasonable compensation for
personal services performed or to be performed in the future.

 

3.13       
Material Contracts.

 

(a)            Except
as set forth in Section 3.13(a) of the Disclosure Schedule, as of the date hereof, the Company is not a party to or bound by
any:

 

(i)                   
Contract containing covenants not to compete
in any line of business, industry or geographical area in any respect;

 

(ii)                   Contract
which by its terms expressly creates a partnership or joint venture or similar arrangement;

 

(iii)                
indenture, credit agreement, loan agreement,
security agreement, guarantee, letter of credit, note, mortgage or other evidence of Indebtedness or agreement providing for Indebtedness;

 

(iv)                 Contract
for the sale of any of its assets after the date hereof;

 

(v)                  collective
bargaining agreement, employee association agreement or other agreement with any labor union, employee representative group, works
council or similar collection of employees;

 

    14 

     

    

 

(vi)              
Contract between the Company, on the one hand,
and any other Affiliate of any Seller, on the other hand;

 

(vii)             
Contract under which the Company has made payments
in excess of $50,000 in the last year or anticipate making payments in excess of $50,000 in any twelve (12) month period;

 

(viii)            
Contract under which the Company received payments
in excess of $50,000 in the last year or anticipate receiving payments in excess of $50,000 in any twelve (12) month period;

 

(ix)               
Contract involving any Key Customers or Key Suppliers;

 

(x)               
Contract containing an obligation to indemnify
any manager, member, employee or contractor of the Company or to indemnify any other Person, except for any such Contract that
is no longer in effect and under which no claim has been made or threatened;

 

(xi)               
Contract containing a provision which provides
that any term of such Contract will be no less favorable either individually or in the aggregate than similar provisions in any
other Contract, or any other similar “most favored nation” or “most favored customer” provision;

 

(xii)              
Contract for acquisitions of capital stock, securities
or assets of another Person, including by merger;

 

(xiii)             
any Real Property Lease;

 

(xiv)            
any agreement under which it has advanced or
loaned any amount; or

 

(xv)             
any material amendment or material modification
to any of the foregoing currently in effect.

 

Each
such Contract described in clauses (i)-(xv) is referred to herein as a “Material Contract”.

 

(b)           The
Company is not (and, to the best of Sellers’ knowledge, no other party is) in material default or violation of any Material
Contract. The Company has not received or made any notice or claim of a default or violation of any Material Contract. The Company
has not received or provided any notice of an intention to terminate, not renew or challenge the validity or enforceability of
any Material Contract. To the best of Sellers’ knowledge, no event has occurred that, with or without notice or lapse of
time or both, would result in a material default or material violation, or termination, of any Material Contract arising from
an act or omission by a party to a Material Contract, other than the Company. To the best of Sellers’ knowledge, no event
has occurred that, with or without notice or lapse of time or both, would result in a material default, material violation, or
termination of any Material Contract arising from an act or omission by the Company. Each of the Material Contracts is in full
force and effect, and is the valid, binding and enforceable obligation of the Company and, to the best of Sellers’ knowledge,
of the other parties thereto, subject to laws affecting the rights of creditors generally and general principles of equity. The
Company has performed all respective material obligations required to be performed by them to date under the Material Contracts.
Sellers have Made Available to Purchaser true and complete copies of each Material Contract.

 

    15 

     

    

 

3.14       
Material Customers and Suppliers.

 

(a)           
 Section 3.14(a) of the Disclosure Schedule sets
forth a true and complete list of (i) all customers of the Business from whom the Company received or accrued total revenue, or
with whom the Company executed contracts involving revenue to the Company in excess of $100,000, from formation of the Company
through the Closing Date (the “Key Customers”) and sets forth opposite the name of such Key Customer the approximate
amount of revenue attributable to such Key Customer during such period, and (ii) the top ten (10) suppliers (including independent
contractors) of goods and/or services to the Business from the start of the Company’s operations through the Balance Sheet
date (the “Key Suppliers”) and sets forth opposite the name of such Key Supplier the approximate aggregate
amounts paid to such Key Supplier during such period. Except as disclosed on Section 3.14(a) of the Disclosure Schedule, since
the Reference Date, no Key Customer or Key Supplier has cancelled or otherwise terminated its relationship with the Company. Except
as disclosed on Section 3.14(a) of the Disclosure Schedule, since the Reference Date, the Company has not received any written
notice from or with respect to any Key Customer or Key Supplier to the effect that any such Key Customer or Key Supplier intends
to terminate or adversely modify in any material respect its relationship with the Business, including due to bankruptcy, receivership,
sale or merger of such Key Customer or Key Supplier.

 

(b)            
3.14(b) of the Disclosure Schedule sets forth,
(i) an accurate listing of Contractual Backlog under all pending contracts between the Company and its customers (“Backlog
Report”) as of June 30, 2014, including the estimated amounts remaining to be collected under such contracts, and (ii)
a complete list (“Pipeline Report”) as of May 31, 2014 of the prospective customer projects with respect to
which the Company has submitted a bid or other proposal to provide services and with respect to which, to Sellers’ knowledge,
a supplier of such services other than the Company has not been selected by the relevant prospective customer, including the Company’s
then-current estimates of (X) the revenue anticipated to be received by the Company with respect to each such project if the Company
is selected to provide such services, and (Y) the anticipated start date, location, and other relevant parameters for such project.
Notwithstanding anything in this Agreement to the contrary, the Sellers make no representations regarding (1) whether or not the
Company is ultimately awarded any project listed in the Pipeline Report or (2) the revenues, profitability or other performance
with respect to any project identified in the Pipeline Report. Sellers have Made Available to Purchaser true, correct and complete
copies of all proposals referred to in the Pipeline Report.

 

3.15
       Properties.

 

(a)          
The Company does not own any real property.

 

(b)         
Section 3.15(b) of the Disclosure Schedule contains
a true and complete schedule of all leases and subleases under which the Company uses or occupies or has the right to use or occupy,
any real property (collectively, the “Real Property Leases”) (the portions of the land, buildings and other
improvements covered by the Real Property Leases being herein called the “Leased Real Property”), which schedule
sets forth the date of and the parties to each Real Property Lease, the expiration date of the relevant lease, and the address
of the Leased Real Property covered thereby, all of which Real Property Leases have been Made Available to Purchaser. The Company,
as tenant, is not in default beyond any applicable notice and cure periods with respect to the Real Property Leases.

 

    16 

     

    

 

(c)              
The Company has good and marketable title to
all owned or valid leasehold interest in, all, machinery, equipment, furniture and other tangible assets used in the Business
(“Tangible Property”), free and clear of any Encumbrances other than Permitted Encumbrances. The Tangible Property
is in good operating condition and repair (ordinary wear and tear excepted) and sufficient to operate the Business in the ordinary
course consistent with past practice.

 

(d)             
The Company owns or leases, subleases or licenses
from unaffiliated third Persons all Leased Real Property and Tangible Property that are used in the Business.

 

(e)              
To the best of Sellers’ knowledge, all
material components of all buildings, structures and other material improvements included within the Leased Real Property that
is actually and physically occupied by the Company (the “Improvements”) are in good operating condition and
repair (ordinary wear and tear excepted) and sufficient to operate the Business in the ordinary course consistent with past practice.

 

(f)               
The Company has a valid leasehold interest in
the Leased Real Property, as provided in the applicable Lease, free and clear of any liens, security interests, defects, exceptions,
rights of way, restrictions, covenants, claims, similar matters, or other encumbrance in respect of such property or asset (collectively,
“Encumbrances”), except for Permitted Encumbrances.

 

(g)             
The Company has not received notice of any pending,
threatened or contemplated condemnation proceeding affecting the Leased Real Property or any part thereof or of any sale or other
disposition of such Leased Real Property or any part thereof in lieu of condemnation.

 

3.16
       Sufficiency of Assets. To the best of Sellers’ knowledge, the assets owned, leased or licensed by the Company constitute
all of the assets used or held for use in the Business, are sufficient for the continued conduct of the Business consistent with
past practice, and are free and clear of any Encumbrances (other than Permitted Encumbrances). The Company has good title to or
a valid leasehold interest in all such assets.

 

3.17       
Labor and Employment. No material employee of the Company has given notice to the Company that any such employee intends
to terminate his or her employment with the Company. To the best of Sellers’ knowledge, no employee of the Company is
in any material respect in violation of any term of any employment contract, non-disclosure agreement or noncompetition
agreement. All employees necessary for the current operation of the Business are employed by the Company.

 

    17 

     

    

 

3.18       
Insurance. Sellers have Made Available to Purchaser complete copies of all policies of insurance maintained by the Company
with respect to its properties and assets, or true and complete summaries of the material terms of such insurance policies. Section
3.18 of the Disclosure Schedule sets forth a list of all insurance policies entered into since October 3, 2012 or currently in
effect relating to the Business. Sellers have Made Available to Purchaser historical property and casualty claims information
with respect to the two (2) year period prior to the date hereof indicating pending and paid claims as of the date hereof. All
insurance policies relating to the Business are in full force and effect and the applicable insured parties have complied in all
material respects with the provisions of such policies. The Company has not received: (i) any notice regarding any dispute by
the applicable carrier of any of the existing insurance policies relating to the Business or regarding any actual or possible
adjustment in the amount of the premiums payable with respect to any of said policies and no such disputes exist; or (ii) any
notice from the applicable carrier regarding any refusal of coverage under, or any rejection of any claim under, any such policies
and, to the best of Sellers’ knowledge, there is no basis for any such refusal of coverage or rejection of any such claim.

 

3.19       
Brokers. The Company has not engaged, nor is obligated for the payment of fees or expenses of, any broker or finder in connection
with the origin, negotiation or execution of this Agreement, or in connection with any transaction contemplated hereby or thereby.

 

3.20       
Transactions with Affiliates. Except as set forth in Section 3.20 of the Disclosure Schedule, no Seller and no Affiliate of
a Seller has been a party to any agreement with or for the benefit of, or has provided services or benefits to or on behalf of,
or has engaged in any transactions with, the Company or the Business (all such transactions, “Affiliate Transactions”).
Except as set forth in Section 3.20 of the Disclosure Schedule, since December 31, 2013, no Seller has received any distribution
of money or property from the Company.

 

3.21       
Investment. (a) Each of the Sellers is an “accredited investor” within the meaning of Rule 501(a) under the
Securities Act; (b) the acquisition of CBD Shares pursuant to this Agreement will be for each respective Seller’s own
account; (c) each Seller has such knowledge and experience in financial and business matters that he is capable of evaluating
the merits and risks of an investment in the CBD Shares and is able to bear the economic risks of and an entire loss of such
Seller’s investment in the CBD Shares; (d) none of the Sellers is acquiring any CBD Shares with a view to any
distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United
States or any other applicable jurisdiction; (e) each Seller acknowledges that the CBD Shares to be issued hereunder
constitute “restricted securities” under the Securities Act and have not been registered under the Securities Act
and that such CBD Shares may not be offered, sold pledged or otherwise transferred unless in accordance with the Securities
Act and any applicable securities laws of any State of the United States and only (i) to the Company, (ii) pursuant to a
registration statement which has become effective under the Securities Act or (iii) pursuant to an exemption from
registration provided by Rule 144 under the Securities Act or any other available exemption from the registration
requirements of the Securities Act and that prior to the registration or any transfer in accordance with (ii) or (iii) above,
the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may
reasonably be required in order to determine that any proposed transfer is being made in compliance with the Securities Act
and applicable state securities laws, and, if required by law, that the CBD Shares will bear a legend to the foregoing
effect. Each of the Sellers consents, agrees and acknowledges that each book entry representing such CBD Shares will bear the
following legend, or another legend to the same effect and agrees to the restrictions set forth therein:

 

    18 

     

    

 

THE
VESTING, SALE OR TRANSFER OF THE SHARES REPRESENTED BY THIS BOOK-ENTRY ARE SUBJECT TO CERTAIN PROVISIONS, INCLUDING CERTAIN RESTRICTIONS
ON TRANSFER AND REPURCHASE RIGHTS, CONTAINED IN THAT CERTAIN EQUITY PURCHASE AGREEMENT DATED AS OF JULY 1, 2014. A COPY OF THIS
AGREEMENT IS ON FILE IN THE PRINCIPAL OFFICE OF THE ISSUER AND WILL BE FURNISHED, UPON REQUEST AND WITHOUT CHARGE, TO ANY PERSON
HAVING A VALID INTEREST THEREIN.

 

THE
SHARES REPRESENTED BY THIS BOOK ENTRY ARE SUBJECT TO RESTRICTIONS ON TRANSFER UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
STATE SECURITIES LAWS, AND MAY NOT BE OFFERED FOR SALE, SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF UNLESS (I)
SUCH TRANSACTION IS REGISTERED UNDER THE APPLICABLE SECURITIES LAWS, (II) SUCH TRANSACTION IS EXEMPT FROM REGISTRATION PURSUANT
TO RULE 144, RULE 144A, OR REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (III) AN OPINION OF COUNSEL, WHICH OPINION
IS REASONABLY SATISFACTORY TO THE COMPANY, HAS BEEN DELIVERED TO THE COMPANY AND SUCH OPINION STATES THAT THE SHARES MAY BE TRANSFERRED
WITHOUT SUCH REGISTRATION.

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser
hereby represents and warrants to Sellers on the date hereof and at Closing (except to the extent such representations and warranties
are expressly made as of an earlier date, in which case such representations and warranties are made as of such earlier date)
as follows:

 

4.1          Corporate
Status. Purchaser is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation.

 

4.2          Authority. All
corporate acts and other proceedings (including any shareholder or board approvals) required to be taken by
Purchaser to authorize the execution, delivery and performance of this Agreement and the consummation of the transactions
hereby have been duly and properly taken. This Agreement has been duly executed and delivered by Purchaser, and (assuming due
authorization and delivery by Sellers) this Agreement constitutes a valid
and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting
creditors’ rights generally or by general equitable principles (regardless of whether such enforceability is considered
in a proceeding in equity or at law).

 

    19 

     

    

 

4.3          Issuance
of Buyer Common Stock. The CBD Shares to be issued pursuant to Section 1.2, when issued, sold and delivered in compliance
with the provisions of this Agreement, will be duly authorized and validly issued, fully paid and non-assessable.

 

4.4         No
Conflict; Required Filings.

 

(a)            
The execution and delivery of this Agreement
does not, and the consummation of the transactions contemplated hereby will not (with or without notice or lapse of time, or both),
conflict with, or result in any violation of or default under, or give rise to a right of termination, cancellation or acceleration
of any obligation or to loss of a benefit under (i) the certificate of incorporation, by-laws or other organizational or governing
documents of Purchaser, (ii) any Contract to which Purchaser is party or by which it is bound or (iii) any Governmental Order
or Law applicable to Purchaser or its property or assets.

 

(b)           
No consent of, or registration, declaration,
notice or filing with, any Governmental Authority is required to be obtained or made by Purchaser in connection with the execution,
delivery and performance of this Agreement or the consummation of the transactions contemplated hereby, other than those that,
if not made or obtained, individually or in the aggregate, would not materially hinder or materially delay the Closing.

 

4.5          Brokers.
Purchaser has not engaged, and is not obligated for the payment of fees or expenses of, any broker or finder in connection
with the origin, negotiation or execution of this Agreement, or in connection with any transaction contemplated hereby or thereby.

 

ARTICLE
V

COVENANTS

 

5.1          [Intentionally
omitted].

 

5.2          [Intentionally
omitted].

 

5.3          [Intentionally
omitted].

 

5.4          Publicity. Sellers
shall not, and shall not permit the Company to, and Purchaser shall not, issue any press release or public
announcement concerning this Agreement or the transactions contemplated hereby without obtaining the prior written approval
of the other parties hereto, which approval will not be unreasonably withheld or delayed, unless, in the reasonable judgment
of Sellers or Purchaser, disclosure is otherwise required by applicable Law or by the applicable rules of any stock exchange
on which Purchaser, or a parent thereof, lists its securities; provided that, to the extent required by applicable Law or by
the rules of any stock exchange, the party intending to make such release or announcement shall use its commercially
reasonable efforts consistent with such applicable Law to consult with the other party with respect to the text
thereof.

 

    20 

     

    

 

5.5          Books
and Records.

 

(a)              
Sellers shall use best efforts to deliver or
cause to be delivered to Purchaser at Closing all properties, books, records, Contracts, information and documents relating to
the Business and the Company. As soon as is reasonably practicable after the Closing, Sellers will deliver or cause to be delivered
to Purchaser any remaining books, records, Contracts, information and documents relating to the Business and the Company that
are not already in the possession or control of the Company.

 

(b)            
Without limiting the parties’ obligations
under Section 5.13(c) below, Sellers and Purchaser agree that each of them will preserve and keep the records held by them relating
to the Business and the Company for a period of three (3) years from the Closing Date. Sellers and Purchaser shall make such records
available to the other as may be reasonably required by such party in connection with, among other things, any insurance claims
by, legal proceedings against, or governmental investigations of Sellers or Purchaser or any of their respective Affiliates or
in order to enable Sellers or Purchaser to comply with their respective obligations under this Agreement and each other agreement,
document or instrument contemplated hereby or thereby or to the extent necessary in connection with their respective financial
reporting or tax reporting obligations relating to any period ending on or before the Closing Date.

 

5.6          [Intentionally
omitted].

 

5.7          Expenses.
Unless otherwise expressly stated herein, all costs and expenses incurred in connection with this Agreement and the transactions
contemplated hereby shall be paid by the party hereto incurring such expenses except as expressly provided herein, it being understood
that all such out-of-pocket costs and expenses of the Company and Sellers shall be paid by Sellers.

 

5.8          [Intentionally
omitted].

 

5.9          Employees.
At the Closing, Donald P. Reed and Chad Reed, currently independent contractors of the Company (the “Key Executives”),
shall become employees of the Company immediately following the Closing, and the Company and the Key Executives shall each
enter into employment agreements in substantially the forms set forth as Exhibit 5.9, attached hereto (the “Key Executive
Agreements” or the “Employment Agreements”); provided, that nothing in this Agreement shall limit
or affect Purchaser’s right to terminate the employment of any such Key Executive at any time following the Closing in accordance
with the Key Executive Agreements.

 

5.10        
[Intentionally omitted].

 

5.11         [Intentionally omitted].

 

    21 

     

    

 

5.12       
Non-Solicitation of Employees; Limited Non-Competition Covenant.From and after the Closing Date and through the third (3rd)
anniversary of the Closing Date, Sellers shall not (and shall cause each of their Affiliates not to), without the prior written
consent of Purchaser, directly or indirectly, whether as principal, agent, partner, officer, director, member, manager, shareholder,
employee, consultant or otherwise, alone or in association with any other Person: (a) solicit, hire or engage any person employed
by the Company as of the Closing Date or any person regularly or periodically engaged by the Company through its staffing company,
HKA Enterprises, Inc. as of or prior to the Closing Date, for employment or engagement in any business; or (b) provide or offer
to provide so called “balance of plant electrical services” in connection with any solar photovoltaic construction
projects in the United States. Notwithstanding anything to the contrary herein, nothing shall prohibit any communication in any
circumstance between Donald P. Reed and Chad Reed.

 

5.13       
Tax Matters.

 

(a)          
Sellers will, at their sole cost and expense,
prepare and file, or cause to be prepared and filed, and shall pay all Taxes due under or in connection with, all income Tax Returns for the Company
for all Tax periods ending on or prior to the Closing Date that are due after the Closing Date.

 

(b)          
Neither the Company nor the Purchaser (or any
Affiliate thereof) shall file or amend, or cause to be filed or amended, any Tax Returns of the Company that relates to any Tax period beginning
before the Closing Date, in each case without the prior written consent of the Sellers’ Designee.

 

(c)           
The Purchaser and Sellers will cooperate fully,
as and to the extent reasonably requested by the other party, in connection with the filing and preparation of Tax Returns of the Company and any Tax
audit or other proceeding related thereto. Such cooperation will include the retention and (upon the other party’s request)
the provision of records and information that are reasonably relevant to any such Tax audit or other proceeding and making employees
available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder.
The Purchaser and Sellers agree that the Company will retain all books and records with respect to Tax matters pertinent to the
Company relating to any Tax period beginning before the Closing Date until the expiration of the statute or period of limitations
of the respective Tax period. Purchaser and Sellers agree, upon request, to use commercially reasonable efforts to obtain any
certificate or other document from any Taxing Authority or any other Person as may be necessary or appropriate to mitigate, reduce
or eliminate any Tax.

 

    22 

     

    

 

5.14       
Business Confidential Information.

 

(a)            Sellers
acknowledge and agree that the books, records, data and other documents and confidential information concerning the Business
and/or the products, services, customer development information (including customer and prospect lists), sales activities and
procedures, promotional and marketing techniques, pricing, plans and strategies, financing, development and expansion plans
and credit and financial data concerning customers and suppliers and other information of or to the extent relating to the
Business or the Company or are considered by Purchaser to be confidential and in the nature of trade secrets, and are
valuable, special and unique assets of the Business, access to and knowledge of which are essential to preserve the goodwill,
customer relationships and ongoing business relationships of the Business for the benefit of Purchaser. Sellers further agree
that all knowledge and information described in the preceding sentence that is not in the public domain (unless such
knowledge and information is in the public domain as a result of a breach of this Agreement, or any other duty of
confidentiality to the Company, by Sellers) shall be considered confidential information (collectively, the “Business
Confidential Information”). For the avoidance of doubt, the term “Business Confidential Information”
shall not include information that (i) does not relate to the Business or the Company, (ii) becomes available to Sellers or
any of their Affiliates on a non-confidential basis from a source other the Company, provided that such source is not bound
by a confidentiality agreement with or similar obligation to Purchaser, the Company or their Affiliates with respect to such
information, (iii) is independently developed by Sellers or any of their respective agents or representatives without a
breach of this Section 5.14, or (iv) is publicly disclosed pursuant to a lawful requirement from a Governmental
Authority acting within its jurisdiction, in which case Sellers shall afford Purchaser a reasonable opportunity to obtain a
protective order against such disclosure. As used in this Section 5.14, “knowledge” shall mean the best of
Sellers’ knowledge.

 

(b)            Sellers
hereby agree that following the Closing Date they shall hold the Business Confidential Information in confidence and not use
or disclose or cause or permit to be used or disclosed any of the Business Confidential Information for any reason or purpose
whatsoever. The foregoing obligations of Sellers and their Affiliates shall be in addition to and not lieu of any protections
available to Purchaser pursuant to any applicable Law regarding the protection of trade secrets. The provisions of this
Section 5.14 shall expire on the third (3rd) anniversary of the Closing.

 

5.15      
Other Transactions. Sellers shall, and shall cause each of their Affiliates and Subsidiaries to, and shall direct its representatives
to, immediately cease any existing solicitations, discussions or negotiations with any Person that has made or indicated an intention
to make an investment in or takeover proposal for the Company or the Business or other substantial portion thereof, and shall
not disclose the terms hereof with any such Person. Sellers shall promptly, and in any event not later than five (5) days following
the date hereof, request that each Person who has executed a confidentiality agreement in connection with that Person’s
consideration of a transaction involving the Company or the Business return or destroy all nonpublic information furnished to
that Person by or on behalf of Sellers, unless such request was previously made.

 

    23 

     

    

 

ARTICLE
VI

INTENTIONALLY OMITTED

 

ARTICLE
VII

INTENTIONALLY OMITTED

 

ARTICLE
VIII

INTENTIONALLY OMITTED

 

ARTICLE
IX

SURVIVAL; INDEMNIFICATION

 

9.1          Survival
of Representations, Warranties and Agreements. The representations and warranties of the parties contained in Articles
III and IV shall, subject to the penultimate sentence of this Section 9.1, terminate on the date that is twelve (12) months
after the Closing Date, except that the representations and warranties contained in Section 3.2 (Authority), Section 3.4
(Capitalization), and Section 3.7 (Taxes) shall survive for three (3) years following the Closing Date. The period of time a
representation or warranty or covenant or agreement survives the Closing pursuant to this Section 9.1 shall be the “Survival
Period” with respect to such representation or warranty or covenant or agreement; provided, however, that in the
event notice of any claim for indemnification under this Article IX shall have been given within the applicable Survival
Period and such claim has not been finally resolved by the expiration of such Survival Period, the representations or
warranties or covenants or agreements that are the subject of such claim shall survive until such matters are finally
resolved. All covenants and agreements contained herein shall survive the Closing and remain in full force and effect in
accordance with their terms.

 

9.2          Indemnification.
Subject to the terms, conditions and limitations set forth in this Article IX, from and after the Closing Date:

 

(a)           Sellers, severally and not jointly, shall indemnify
and hold harmless Purchaser and its Affiliates (including the Company) and each of their respective officers, directors, members,
partners, managers, shareholders and employees (collectively, the “Purchaser Indemnified Parties”) from and
against any Losses that are imposed on or incurred by the Purchaser Indemnified Parties arising out of or related or attributable
to any of the following (“Sellers’ Liabilities”): (i) any breach of any representation or warranty made
by Sellers in this Agreement, (ii) any failure to perform any covenant or agreement of Sellers set forth in this Agreement, (iii)
any business, liabilities or obligations of Sellers or the Company that do not arise directly out of the Business, (iv) any transaction-related
expenses of the Company or Sellers, or any portion thereof, not otherwise paid in full on or prior to the Closing, (v) any Taxes
imposed on the Company and/or the Business with respect to any Tax period at any time through and including the Closing Date (net
of any Tax refunds or credits received by the Company for any such Tax period), and (vi) any payments to be made hereunder to
Sellers by Sellers’ Designee that are not so made or any other disputes among Sellers and Sellers’ Designee.

(b)           Purchaser
shall indemnify and hold harmless Sellers (collectively, the “Seller Indemnified Parties”) from and
against any Losses that are imposed on or incurred by the Seller Indemnified Parties arising out of or related or
attributable to (i) any breach of any representation or warranty made by Purchaser in this Agreement and (ii) any failure to
perform any covenant or agreement of Purchaser set forth in this Agreement.

 

    24 

     

    

 

9.3          Limitations. Sellers
shall have no Liability for indemnification hereunder with respect to the matters described in Section 9.2(a)(i) until the
total of all Losses with respect to such matters exceeds $25,000 (the “Basket”), at which point
Sellers shall be obligated to indemnify the Purchaser Indemnified Parties for all Losses in excess of the Basket, subject to
the other terms of this Agreement; provided, however, that any Losses in respect of breaches of the representations
and warranties contained in Section 3.2 (Authority), Section 3.4 (Capitalization), Section 3.6(c) (No Undisclosed
Liabilities), and Section 3.7 (Taxes), (collectively, the “Excluded Representations”) shall be recoverable
from the first dollar of Loss and shall not be subject to the Basket. Sellers’ maximum aggregate Liability for
indemnification with respect to the matters described in Section 9.2(a)(i), other than in connection with breaches of any of
the Excluded Representations, shall be limited to $650,000; and Sellers’ maximum aggregate Liability for
indemnification with respect to all matters described in Section 9.2(a) shall be limited to $3,000,000. For the sake of
clarity, for any Liability satisfied under Section 1.2(e), the amount of the applicable satisfied Indemnity Breach Amount
shall count toward the caps in the preceding sentence.

 

9.4          Indemnification
Procedures. If an indemnified party seeks indemnification pursuant to this Article, such party shall give written notice
(the “Indemnification Notice”) to the indemnifying party of any claim hereunder with reasonable promptness
after obtaining knowledge thereof, including any claims against the indemnified party which might give rise to a claim
against the indemnifying party hereunder, stating the nature and basis of such claim and the amount thereof, in reasonable
detail, to the extent then known by the indemnified party, provided, however, that the failure of the indemnified party to
give such Indemnification Notice promptly shall not affect the obligations of the indemnifying party hereunder except and to
the extent that the indemnifying party is prejudiced thereby. In the event of any claim by or litigation with any third party
which might give rise to a right of indemnification under this Article, the indemnifying party shall keep the indemnified
party fully informed, using reasonable efforts to defend such claim or litigation and present any defense reasonably
suggested by the indemnified party or its counsel. The indemnifying party shall have the obligation, upon written request of
the indemnified party, to conduct the defense or prosecution of such claim or litigation at the indemnifying party’s
expense, with counsel approved by the indemnified party (which approval shall not be unreasonably withheld). If the
indemnifying party conducts such defense or prosecution, (i) it shall have no liability for any legal or other expenses
incurred by the indemnified party after assumption of such defense or prosecution by the indemnifying party in connection
with such proceeding other than the reasonable out of pocket costs of cooperation with the indemnifying party in such defense
or prosecution; and (ii) the indemnifying party shall conduct such defense or prosecution diligently and in good faith. An
indemnified party shall not make, or offer to make, any settlement of any claim or litigation which might give rise to a
right of indemnification hereunder without the consent of the indemnifying party, which consent shall not be
unreasonably withheld.

 

    25 

     

    

 

9.5          Exclusive
Remedy. This Article IX will provide the exclusive legal remedy for the transactions contemplated by this Agreement and
the matters covered by this Agreement, other than a breach of Sections 5.12, 5.13 or 5.14.

 

ARTICLE
X

MISCELLANEOUS

 

10.1       
Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed to have
been duly given or made (a) on the date of delivery if delivered personally, or by email or facsimile, upon actual confirmation
of receipt with the recipient or a representative thereof, (b) on the first business day following the date of dispatch if delivered
by a recognized next-day courier service, or (c) on the fifth business day following the date of mailing if delivered by registered
or certified mail return receipt requested, postage prepaid, and shall be delivered personally or mailed by registered or certified
mail (postage prepaid, return receipt requested), sent by overnight courier or sent by telecopy, to the applicable party at the
following addresses or telecopy numbers (or at such other address or telecopy number for a party as shall be specified by like
notice):

 

	 	If to Sellers, then to:	 	With a copy to:
	 	Green Earth Developers, LLC	 	K & L Gates
	 	3440 Toringdon Way, Suite 205	 	Hearst Tower
	 	Charlotte, NC 28277	 	214 North Tryon Street, 47th Floor
	 	Fax: (704) 255-1645	 	Charlotte, NC 28202
	 	Attn: Donald P. Reed, President	 	Fax: (704) 353-3282
	 	 	 	Attn: Kevin P. Stichter, Esq.
	 	 	 	 
	 	If to Purchaser, then to:	 	With a copy to:
	 	CBD Acquisition Holdings, Inc.	 	Funkhouser Vegosen Liebman & Dunn Ltd.
	 	c/o CBD Energy Limited	 	55 West Monroe Street, Suite 2300
	 	Suite 2, Level 2 52	 	Chicago, Illinois 60603
	 	Cross Street Double	 	Fax: (312) 701-6801
	 	Bay, NSW 2028	 	Attn: James F. Groth, Esq.
	 	Australia	 	 
	 	Fax: +61 2 9363 9955	 	 
	 	Attn: Gerry McGowan, Chairman	 	 
	 	&Managing Director	 	 

 

10.2
       Certain Definitions; Interpretation.

 

(a)      
     For purposes of this Agreement, the following terms shall have the following meanings:

 

(i)               “Affiliate”
of a Person means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or
is under common control with, the first mentioned Person.

 

    26 

     

    

 

(ii)              
“Business” means the business
of providing engineering, procurement, and construction services for solar energy, interconnect, and substation projects as currently
conducted and currently contemplated to be conducted by the Company.

 

(iii)             
“CBD” means CBD Energy Limited, an
Australian corporation, which is the sole ultimate beneficial owner of Purchaser.

 

(iv)             
“CBD Shares” means the ordinary
shares of CBD.

 

(v)              
“Code” means the Internal
Revenue Code of 1986, as amended.

 

(vi)             
“Contract” means any contract,
agreement, lease, license, sales order, purchase order, indenture, note, bond, loan, instrument, lease, commitment or other arrangement
or agreement that is binding on any Person or any part of its property.

 

(vii)            
“Contractual Backlog” means
projects to be performed after Closing under an executed contract with a customer of the Business.

 

(viii)         
“control” (including the terms
“controlled,” “controlled by” and “under common control with”) means the possession, direct
or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of stock, as trustee or executor, by contract or credit arrangement or otherwise.

 

(ix)            
“ERISA” means the Employee
Retirement Income Security Act of 1974, including the rules and regulations promulgated thereto.

 

(x)              
“Governmental Authority” means
any foreign or United States federal, state or local governmental, regulatory or administrative agency or any court or tribunal
or, with respect to any specified Person, any arbitrator who has the authority to render a binding decision on such Person that
may be enforced in a court of competent jurisdiction.

 

(xi)            
“Governmental Order” means
any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

 

(xii)             “Indebtedness”
of any Person at any date shall include (A) all obligations of such Person for borrowed money and obligations issued or
incurred in substitution or exchange for obligations for borrowed money, (B) any other obligation of such Person which is
evidenced by any note, bond, letter of credit, debenture, mortgage or similar debt instrument, (C) all guarantees with
respect to any indebtedness, obligation, claim or Liability of any other Person of a type described in clauses (A) or (B)
above, (D) all other obligations of such Person under any lease or similar arrangement required to be accounted for by the
lessee as a capital lease in accordance with GAAP, (E) all obligations for the deferred purchase price, or purchase price
adjustment (including any working capital adjustment) relating to the purchase, of assets, property or services, (F) all
Liabilities under any sale and leaseback transaction, any synthetic lease or tax ownership operating lease transaction and
all obligations arising with respect to any transaction which is the functional equivalent of or takes the place of borrowing
but which does not constitute a liability on the balance sheet, (G) all obligations with respect to hedging, swaps or similar
arrangements, and (H) for clauses (A) through (G) above, all accrued interest thereon, if any, and any termination fees,
prepayment, discharge, or termination penalties, “breakage” costs or similar fees, penalties or payments
associated with the repayments of such Indebtedness on or prior to the Closing Date.

 

    27 

     

    

 

(xiii)         
“knowledge” with respect to
Sellers means the actual knowledge of each Seller and the Key Executives.

 

(xiv)       
“Law” means any law, statute, ordinance,
rule or regulation of any Governmental Authority, or any binding agreement with any Government Authority.

 

(xv)         
“Liability” means any direct
or indirect liability, indebtedness, claim, loss, damage, deficiency, obligation or responsibility, fixed or unfixed, choate or
inchoate, liquidated or unliquidated, secured or unsecured, accrued, absolute, known or unknown, contingent or otherwise.

 

(xvi)         
“Losses” means any costs or
expenses (including reasonable attorneys’ fees and expenses), judgments, assessments, fines, claims, damages (other than
consequential damages) and lost profits.

 

(xvii)        
“Made Available” means that
the information referred to has been actually and accurately delivered to Purchaser in reviewable format at least three (3) days
prior to the date of the execution of this Agreement.

 

(xviii)      
“Material Adverse Effect”
means any change, effect, circumstance, event, development or condition that, individually or in the aggregate, has had, or would
reasonably be expected to have, a material adverse effect on the business, assets, properties, results of operations, prospects
or condition (financial or otherwise) of the Business or the Company; provided, however, that changes, effects or circumstances,
alone or in combination, that directly arise out of or result directly from the execution and performance of this Agreement and
the transactions contemplated hereby shall not be deemed to constitute a Material Adverse Effect.

 

(xix)         
“Permit” means any permit,
franchise, authorization, license or other approval issued or granted by any Governmental Authority.

 

(xx)           “Permitted
Encumbrances” means (A) mechanics’, carriers’, workmen’s, repairmen’s or other like
Encumbrances arising or incurred in the ordinary course of business for amounts not yet delinquent or which are being
contested in good faith by appropriate legal proceedings and with respect to which appropriate reserves are being held by the
Company, and in each case set forth on Schedule 10.2(a)(xx), (B) customary Encumbrances arising under original purchase price
conditional sales contracts and equipment leases with third parties entered into in the ordinary course of business, and in
each case set forth on Schedule 10.2(a)(xx), (C) Encumbrances for Taxes and other governmental charges that are not due and
payable,are being contested in good faith by appropriate proceedings or may thereafter be paid without penalty and with
respect to which appropriate reserves are being held by the Company, and in each case set forth on Schedule 10.2(a)(xx), and
(D) imperfections of title, restrictions or encumbrances, if any, which Encumbrances, imperfections of title, restrictions or
other encumbrances do not, individually or in the aggregate, impair the continued use and operation or the value of the
specific assets to which they relate.

 

    28 

     

    

 

(xxi)           “Person”
means an individual, corporation, partnership, limited liability company, association, trust, unincorporated organization,
entity or group.

 

(xxii)           
“Purchaser Material Adverse Effect”
means any material adverse change in or material adverse effect on the ability of Purchaser to perform its obligations under
this Agreement or to consummate the transactions contemplated hereby.

 

(xxiii)          
“Reference Date” means March
31, 2014.

 

(xxiv)         
“Sellers’ Designee”
means Donald P. Reed.

 

(xxv)          
“Subsidiary” of a Person means
any corporation or other legal entity of which such Person (directly or indirectly, either alone or through or together with any
other Subsidiary or Subsidiaries) is the general partner or managing entity or of which at least a majority of the stock or other
equity interests the holders of which are generally entitled to vote for the election of the board of directors or others performing
similar functions of such corporation or other legal entity is directly or indirectly owned or controlled by such Person (either
alone or through or together with any other Subsidiary or Subsidiaries).

 

(xxvi)         
“Tax Return” means any report,
return or similar filing (including the attached schedules) required to be filed with respect to Taxes, including any information
return, claim for refund, election, disclosure, amended return, or declaration of estimated Taxes.

 

(xxvii)        
“Taxes” means (i) any and
all domestic or foreign, federal, state, local or other taxes, levies, fees, imposts, or duties of any kind (together with any
and all interest, fines, assessments, penalties, additions to tax and additional amounts imposed with respect thereto) imposed
by any Governmental Authority, including, without limitation (x) taxes with respect to income, franchises, windfall or other profits
and gross receipts and (y) real or personal property, sales, use, goods and services, capital stock, employment, unemployment,
social security, unclaimed property, payroll, customs duties, transfer, license, branch, utility, severance, production, occupation,
premium, workers’ compensation or net worth, capital gains and taxes in the nature of excise, withholding, ad valorem or
value added; and (ii) any transferee liability in respect of any items described in clause (i) above.

 

    29 

     

    

 

(xxviii)       
“Taxing Authority” means the Internal Revenue Service (“IRS”) and any other domestic or foreign
Governmental Authority responsible for the administration or collection of any Taxes.

 

(b)           When
a reference is made in this Agreement to Articles, Sections, or Disclosure Schedule, such reference is to an Article or a
Section of, or Disclosure Schedule to, this Agreement, unless otherwise indicated. When a reference is made in this Agreement
to a party or parties, such reference is to parties to this Agreement, unless otherwise indicated. The table of contents and
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Whenever the words “include,” “includes” or “including”
are used in this Agreement, they shall be understood to be followed by the words “without limitation.” When a
reference is made in this Agreement to this “Agreement,” such reference is to this Agreement, the Disclosure
Schedule and any side letter or other document referred to in Section 10.4 of this Agreement.

 

10.3      
Severability. If any term or other provision of this Agreement is determined by a court of competent jurisdiction as being
invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this
Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party. Upon such a determination that any term or other provision
is invalid, illegal, or incapable of being enforced, Sellers and Purchaser shall negotiate in good faith to modify this Agreement
so as to affect their original intent as closely as possible in an acceptable manner to the end that the transactions contemplated
hereby are fulfilled to the maximum extent possible.

 

10.4       
Entire Agreement; No Third-Party Beneficiaries. This Agreement, including all exhibits and schedules attached hereto, the
Disclosure Schedule, and any certificate or side letter delivered in connection herewith (that is referenced as a certificate
or side letter delivered under this Agreement) constitute the entire agreement and supersede any and all other prior agreements
and undertakings, both written and oral, among the parties hereto, or any of them, with respect to the subject matter hereof and
does not, and is not intended to, confer upon any Person (other than the Purchaser Indemnified Parties pursuant to Section 9.2)
any rights or remedies hereunder.

 

10.5
       Amendment; Waiver. This Agreement may be amended only in a writing signed by all parties hereto. Any waiver of rights hereunder
must be set forth in writing. A waiver of any breach or failure to enforce any of the terms or conditions of this Agreement shall
not in any way affect, limit or waive either party’s rights at any time to enforce strict compliance thereafter with every
term or condition of this Agreement.

 

10.6        
Binding Effect; Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective legal representatives and successors. Notwithstanding the foregoing, this Agreement shall not be assigned by
any party hereto by operation of Law or otherwise without the express written consent of each of the other parties; provided,
however, that (i) Purchaser may, provided it remains liable for its obligations hereunder, assign this Agreement to any
Affiliate of Purchaser or to any successor to Purchaser by way of merger or otherwise and (ii) Purchaser or any such assignee
may make a collateral assignment of this Agreement to any lender.

 

    30 

     

    

 

10.7       
Disclosure Schedule. The Disclosure Schedule shall be construed with and as an integral part of this Agreement to the same
extent as if the same had been set forth verbatim herein. Any matter disclosed pursuant to the Disclosure Schedule shall not be
deemed to be an admission or representation as to the materiality of the item so disclosed. The information set forth in each
section or subsection of the Disclosure Schedule to this Agreement shall be deemed to provide the information contemplated by,
or otherwise qualify, the representations and warranties of Sellers set forth in the corresponding section or subsection of this
Agreement and any other section or subsection of this Agreement to the extent it is reasonably apparent on its face from a reasonable
reading of the Disclosure Schedule and such other section of this Agreement that such disclosure is also applicable to such other
section of this Agreement and regardless of whether such section or subsection of this Agreement is qualified by reference to
the Disclosure Schedule.

 

10.8       
Governing Law; Jurisdiction. Any and all claims, disputes or controversies in any way arising out of or relating to (a) this
Agreement, (b) any breach or termination of, or the validity of, this Agreement, (c) the transactions contemplated hereby or (d)
any discussions or communications relating in any way to this Agreement or any transactions contemplated hereby (collectively,
“Actions”), and the existence or validity of any and all defenses to such claims, disputes, or controversies,
shall be governed and resolved exclusively by the laws of the State of Illinois, notwithstanding the existence of any conflict
of laws principles that otherwise would dictate the application of any other state’s law. Each party irrevocably and unconditionally
waives any right to object to the application of Illinois law, or argue against its applicability to any of the matters referenced
in the immediately preceding sentence.

 

10.9     
Construction. The headings of Articles and Sections in this Agreement are provided for convenience only and will not affect
its construction or interpretation. The language used in this Agreement is the language chosen by the parties to express their
mutual intent, and no rule of strict construction shall be applied against any party.

 

10.10    
Counterparts. This Agreement may be executed simultaneously in one or more counterparts (including by facsimile or electronic
..pdf submission), and by the different parties in separate counterparts, each of which when executed shall be deemed to be an
original, but all of which shall constitute one and the same agreement.

 

10.11     
Facsimile Signature. All parties agree that an electronically reproduced facsimile of this originally executed Agreement and
subsequent amendments thereto shall be a binding signature and carry the same legal force and effect as the originally executed
Agreement.

 

10.12
    Sellers’ Designee. Sellers acknowledge that Seller’s Designee has full authority to take the actions
contemplated by this Agreement on behalf of Sellers as set forth herein. Neither Purchaser nor its Affiliates shall have
liability arising from the relationship among Sellers’ Designee, on the one hand, and Sellers, on the other hand,
including any payments Sellers’ Designee collects or makes (or fails to collect or make) to Sellers as a result of the
transactions contemplated by this Agreement or any decisions made by Sellers’ Designee on behalf of Sellers, and
Purchaser shall be entitled to rely on Sellers’ Designee having full authority to take such actions on behalf of
Sellers.

 

    31 

     

    

 

10.13    
Representation of Sellers. Each of the parties hereto hereby agrees, on its own behalf and on behalf of its directors, members,
managers, partners, shareholders, officers, employees and Affiliates, that K&L Gates LLP may serve as counsel to Sellers,
on the one hand, and the Company, on the other hand, in connection with the negotiation, preparation, execution and delivery of
this Agreement and the consummation of the transactions contemplated hereby, and that, following consummation of the transactions
contemplated hereby, K&L Gates LLP (or any of their respective successors) may serve as counsel to Sellers in connection with
any matter, litigation, claim or obligation arising out of or relating to this Agreement or the transactions contemplated by this
Agreement notwithstanding such representation of the Company, and each of the parties hereto hereby consents thereto and waives
any conflict of interest arising therefrom, and each of such parties shall cause any Affiliate thereof to consent to waive any
conflict of interest arising from such representation.

 

[Signature
Pages Follow.]

 

    32 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Equity Purchase Agreement to be executed as of the date first written above
by their duly authorized representatives.

 

	 	PURCHASER:
	 	 	 
	 	CBD ACQUISITION HOLDINGS, INC., a Delaware corporation
	 	 	 
	 	By:	
	 	Name:	Gerard P. McGowan
	 	Its:	President

 

[Signature
Pages Continue]

 

[Signature Page to Equity Purchase Agreement] 

 

    33 

     

    

 

SELLERS:

  

	 	 
	DONALD P. REED, Individually	 
	 	 
	 	 
	GREG FOX, Individually	 
	 	 
	 	 
	JOSEPH DUEY, Individually	 
	 	 
	 	 
	CHARLES HORNE, Individually	 
	 	 
	 	 
	JACKSON HORNE, Individually	 

 

[Signature Page to
Equity Purchase Agreement]

 

    34 

     

    

  

SELLERS:

  

	 	 
	DONALD P. REED, Individually	 
	 	 
	 	 
	GREG FOX, Individually	 
	 	 
	 	 
	JOSEPH DUEY, Individually	 
	 	 
	 	 
	CHARLES HORNE, Individually	 
	 	 
	 	 
	JACKSON HORNE, Individually	 

 

[Signature Page to
Equity Purchase Agreement]

 

    35 

     

    

 

SELLERS:

  

	 	 
	DONALD P. REED, Individually	 
	 	 
	 	 
	GREG FOX, Individually	 
	 	 
	 	 
	JOSEPH DUEY, Individually	 
	 	 
	 	 
	CHARLES HORNE, Individually	 
	 	 
	 	 
	JACKSON HORNE, Individually	 

 

[Signature Page to
Equity Purchase Agreement]

 

    36 

     

    

 

SELLERS:

  

	 	 
	DONALD P. REED, Individually	 
	 	 
	 	 
	GREG FOX, Individually	 
	 	 
	 	 
	JOSEPH DUEY, Individually	 
	 	 
	 	 
	CHARLES HORNE, Individually	 
	 	 
	 	 
	JACKSON HORNE, Individually	 

 

[Signature Page to
Equity Purchase Agreement]

 

    37 

     

    

 

SELLERS:

  

	 	 
	DONALD P. REED, Individually	 
	 	 
	 	 
	GREG FOX, Individually	 
	 	 
	 	 
	JOSEPH DUEY, Individually	 
	 	 
	 	 
	CHARLES HORNE, Individually	 
	 	 
	 	 
	JACKSON HORNE, Individually	 

 

[Signature Page to
Equity Purchase Agreement]

 

    38 

     

    

 

EXHIBIT
1.1

 

SELLERS’ DISTRIBUTIONS

 

	 	Cash
Portion at 
 Closing	Cash
Portion on or before July 15, 2014	Shares
	Don
Reed 
 7506 Moriah Ave. 

Brooksville, FL 34613	$264,680	$165,000	246,687
	Greg
Fox
 68 Rock Springs Rd. 

Fairview, NC 28730	$322,720	$160,000	118,000
	Joseph
Duey 
 3117 Quiet Cove 

Tega Cay, SC 29708	$129,400	$75,000	61,563
	Charles
Horne 
 317 Parkview Dr. 

Fayetteville, NC 28304	$141,600	$50,000	36,875
	Jackson
Horne 
 501 Rob Rd. 

Steadman, NC 28391	$141,600	$50,000	36,875
	Totals	$1,000,000	$500,000	500,000

 

    

     

    

 

EXHIBIT
2.2

 

FORM OF ASSIGNMENT

 

ASSIGNMENT OF MEMBERSHIP
INTERESTS

 

FOR
VALUE RECEIVED, ________________________________(“Assignor”), hereby irrevocably sells, assigns, transfers,
conveys and delivers to CBD Acquisition Holdings, Inc., a Delaware corporation (“Assignee”), free and clear of
all liens, mortgages, pledges, encumbrances, and charges of any kind, all right, title and interest in and to all of his
membership interest (representing a _____% interest) (the “Membership Interest”) in Green Earth Developers, LLC,
a Georgia limited liability company (the “Company”), standing in the name of the Assignor on the books of the
Company, including without limitation all of the Assignor’s rights in, to and under the Company’s Operating
Agreement dated as of October 3, 2012 (the “Operating Agreement”). The undersigned hereby irrevocably constitutes
and appoints Gerard P. McGowan as its attorney-in-fact to transfer said Membership Interest on the books of the Company
maintained for that purpose, with full power of substitution in the premises.

 

Without
limiting the generality of the foregoing, Assignor hereby assigns to Assignee any and all rights, claims, and interests in and
to the Company and the property owned by the Company and any rights and claims he may have against any of the Company’s
members or managers, or any of their affiliates, with respect to the Company or its assets or business.

 

Assignor
represents and warrants: (i) that Assignor owns the Membership Interest free and clear of all liens, mortgages, pledges, encumbrances
and charges of any kind; (ii) that the Membership Interest constitutes one hundred percent (100%) of Assignor’s interest
in the Company; and (iii) that Assignor has the requisite power and authority to enter into and perform the terms of this Assignment
of Membership Interests (“Assignment”). The execution and delivery of this Assignment and the consummation of the
transactions contemplated hereby have been duly authorized by all necessary action and authority and no other proceedings on the
part of Assignor or the Company are necessary in order to permit Assignee or the Company to consummate the transaction contemplated
hereby.

 

Assignor
agrees to execute and deliver such other documents as may be necessary to carry out or otherwise confirm the transaction contemplated
by this Assignment upon Assignee’s written request.

 

[Signature
Page Follows]

 

    

     

    

 

EXHIBIT
5.9

 

EMPLOYMENT AGREEMENTS

 

[See
attached.]

 

    

     

    

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of July 1, 2014 (the “Effective Date”)
by and between GREEN EARTH DEVELOPERS, LLC, a Georgia limited liability company (the “Company”), and DONALD
P. REED (“Executive”).

 

R
E C I T A L S:

 

A.           
The
Company is engaged in the business of providing engineering, procurement, and construction services for solar energy, interconnect,
and substation projects (the “Business”). Following the closing under that certain Equity Purchase Agreement dated
as of even date herewith between CBD Acquisition Holdings, Inc., a Delaware corporation, on the one hand, and the Executive and
all other members of the Company on the other hand (the “Purchase Agreement”), the Company will become, indirectly,
wholly-owned by CBD Energy Limited, an Australian corporation (“CBD”).

 

B.            The Company desires to employ the
Executive, and the Executive desires to become employed by the Company pursuant to the terms and conditions of this
Agreement.

 

NOW,
THEREFORE, in consideration of the premises set forth above, Executive’s employment by the Company as provided herein,
the compensation to be paid to Executive by the Company and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree as follows:

 

1.       
  Employment.
The Company employs Executive, and Executive accepts employment with the Company, upon the terms and conditions set forth in
this Agreement (the “Employment”). Executive will exert his best efforts, devoting his full working time and
attention, in the performance of his duties as an employee of the Company, provided that Executive may devote reasonable
amounts of time to management of his personal investments, serving on corporate, charitable or civic boards and other similar
matters that do not materially interfere with the performance of his duties hereunder. Initially, Executive’s title
shall be President – U.S. Commercial/Utility, and he shall report to the Managing Director of CBD, presently Gerard
McGowan (the “MD”) or to such other person as the MD designates (the “Designee”) and shall perform
such duties and services as the MD or the Designee may assign to Executive from time to time, which duties and services shall
be consistent with the Executive’s position. Executive represents, warrants, and agrees that Executive is not presently
engaged in, nor shall Executive, during the Employment, enter into any other employment or agency relationship with, any
third party whose interests conflict with those of the Company. The Company acknowledges and agrees that Executive may work
on a remote basis from one or more locations from time to time selected by the Executive as and when commercially feasible
and consistent with proper performance of his duties on behalf of the Company.

 

2.          Term &
Termination.

 

(a)            
The term of the Employment is a period of three
(3) full years beginning on the Effective Date (the “Term”).

 

(b)            If
Executive remains an employee of the Company after the third (3rd) anniversary of the Effective Date (the
“Expiration Date”), then, as of the Expiration Date, Executive’s Employment with the Company shall be
at-will and thereafter either Executive or the Company may terminate the Employment at any time without notice or
cause.

 

    1

     

    

 

(c)            Executive
acknowledges and agrees that the Company has the right to make and enforce any other rules and regulations not contrary to
the express terms of this Agreement that will also govern the Employment. All Company benefits are subject to change or
elimination at any time at the discretion of the Company.

 

3.           Compensation.

 

(a)           
Salary.
Executive’s base salary for his full-time Employment hereunder will be TWO HUNDRED TEN THOUSAND AND NO/100 DOLLARS ($210,000.00)
per annum (the “Base Salary”), payable not less often than monthly, in accordance with the Company’s normal
payroll practices. The Base Salary shall be increased by five percent (5%) per annum over the then applicable Base Salary on the
first (1st) and second (2nd) anniversaries of the Effective Date. All compensation payments to Executive
shall be subject to such deductions for applicable withholding taxes, social security, employee benefits, and the like as required
or permitted under applicable law.

 

(b)           
Bonus Compensation.
Provided that the Executive remains employed by the Company through the end of CBD’S fiscal year ending June 30, 2015
(the “First Year”), the Company will pay to the Executive a bonus equal to three and one-half percent (3.5%) of the
Company’s Pre-Tax Operating Income (defined below) for the First Year. As used herein “Pre-Tax Operating Income”
shall mean the net income from operations of the Company, before taxes, as determined by the Company’s outside accountants
based on the final audited financial statements of the Company for the First Year. Any bonus compensation payable under this Section
3(c) shall be payable within thirty (30) days following completion of the Company’s audited financial statements for the
relevant period. Bonus compensation for subsequent fiscal years of the Company shall be in accordance with such bonus plan(s)
or program(s) as may be approved by the board of directors of CBD.

 

(c)           
Loan Forgiveness.
As of the Effective Date, the Executive is indebted to the Company in the principal amount of ONE HUNDRED FORTY FOUR THOUSAND
AND NO/1 00 DOLLARS ($144,000.00) plus accrued interest thereon (the “Indebtedness”). Effective as of the Effective
Date, one third of the Indebtedness shall be automatically forgiven and released. The remaining portion of such Indebtedness shall
be automatically forgiven and released in two (2) equal portions on each of the first two (2) anniversaries of the Effective Date;
provided that if Executive’s Employment has been terminated prior to either such anniversary date by either (i) the Company
for Cause or (ii) the Executive for other than Good Reason, no further forgiveness of the Indebtedness shall occur. Any forgiveness
of a portion of the Indebtedness by the Company shall automatically and irrevocably extinguish such portion of the Indebtedness
and the Company shall fully and irrevocably release Executive from any and all obligation related to such portion. Upon request
of Executive, the Company agrees to execute and deliver such documentation as may be reasonably necessary to evidence such release
of the Indebtedness.

 

4.           Benefits. During
the Employment, and subject to Executive’s fulfillment of any applicable eligibility requirements in the
various employee benefit plans, if any, Executive may participate in such employee benefit plans maintained or made available
by the Company to other comparable level employees of the Company, which plans are anticipated, in the future, to include
group life and disability insurance plans and an executive equity-based incentive compensation plan, subject to approval and
adoption thereof in accordance with CBD’s and the Company’s internal policies, procedures and budgets. Executive
will be eligible to earn up to twenty (20) days of vacation per year in accordance with Company policy, provided that any
vacation is taken with due consideration to the Company’s business needs and the Executive’s duties and
responsibilities.

 

    2

     

    

 

5.           
Expenses.
The Company will reimburse Executive for such reasonable and necessary business expenses as are incurred in connection with Executive’s
duties for and on behalf of the Company in accordance with Company policy, against presentation of proper receipts or other proof
of expenditure consistent with the requirements specified by the Internal Revenue Service for the substantiation of business expenses.
In addition, the Company will reimburse Executive for reasonable home-office expenses, up to a total of $5,000 per annum, for
such items as a laptop computer, Microsoft Office Suite software, printer, monthly fees for high-speed internetservice, cellular
and other telephone service, and office supplies. All of the foregoing reimbursements will be against presentation of proper receipts
or other proof of expenditure consistent with the requirements specified by the Internal Revenue Service for the substantiation
of business expenses and Company policy.

6.          
No Conflicts.
Executive represents, warrants, and agrees that Executive is not subject to any agreement, including any non-competition agreement
or other restrictive covenant, whether oral or written, that would in any way restrict or prohibit Executive’s ability to
enter into and execute this Agreement, perform his duties and responsibilities to the Company, provide services to clients of
the Company, or otherwise abide by Company policy.

 

7.           
Confidentiality.

 

(a)   
        As used herein, the term “Confidential Information” shall mean
and include: (i) confidential information about the Company and its affiliates, including CBD and its other direct and
indirect subsidiaries (the Company and such affiliates being referred to together as the “Companies”) and their
plans, businesses and operations, including their business and financial records, sales, training programs, client and
customer lists, preferences, characteristics and identities, contractor, supplier and service provider lists, abilities,
characteristics and identities, the terms (including prices and trade discounts), conditions, and current status of the
Companies’ agreements and relationships with their existing and prospective clients, customers, contractors, suppliers,
service providers and other business partners, the Companies’ sales and marketing strategies, plans and proposals,
employment and compensation records, marketing plans, strategic plans, computer programs, designs, confidential planning and
policy matters, and other secret or confidential operational, management, sales, marketing, training, financial, accounting,
and tax information relating to the businesses of the Companies, and other trade secrets and non-public aspects of their
businesses and operations; (ii) information which the Companies are required to keep confidential in accordance with
confidentiality obligations to their clients, customers, and other third parties; (iii) communications between any of the
Companies and/or their shareholders, members, officers, directors, or employees, and any attorney retained by any of the
Companies for any purpose, or any person retained or employed by such attorney for the purpose of assisting in the
attorney’s representation of any of the Companies; and (iv) other matters and materials belonging to or relating to the
business and internal affairs of any of the Companies, including information recorded on any medium, which gives any of the
Companies an opportunity to obtain an advantage over their competitors who do not know or use the same or by which any of the
Companies derives actual or potential value from such matter or material not generally being known to other persons or
entities who might obtain economic value from their use or disclosure.

 

    3

     

    

 

(b)             
“Confidential Information” excludes
any information which (i) was in the public domain prior to Executive’s engagement or employment with the Company; (ii)
came into the public domain without fault or breach of confidentiality by Executive; (iii) is generally known by others in the
industry; (iv) becomes available to Executive on a non-confidential basis from a source other than the Companies without breach
of such source’s confidentiality obligations to the Companies; or (v) was known by Executive prior to Executive’s
engagement or employment with the Company. No combination of known information shall be within any of the foregoing exceptions
unless the combination is within such exception. No specific information shall be within any of the foregoing exceptions merely
because it is embraced by more general information which falls within any one or more of the foregoing exceptions.

 

(c)             
Executive acknowledges and agrees that Executive
previously has, and during the Employment Executive will receive and have access to and will be involved, individually and together
with others, in the development of, Confidential Information. Executive acknowledges and agrees that the Company is engaged in
a highly competitive industry, and has expended, and will expend, significant sums of money and has invested, and will invest,
a substantial amount of time to develop, use, and maintain the secrecy of the Confidential Information. The Company has thus obtained,
and will obtain, valuable economic assets which have enabled, and will enable, the Company to develop an extensive reputation
and to establish long-term business relationships with its contractors, suppliers, service providers, clients and customers.

 

(d)           
Accordingly, Executive acknowledges and agrees
that, unless and until the Confidential Information becomes publicly known through legitimate means not involving any act or omission
by Executive or five (5) years following the date on which the Employment terminates for any reason, whichever occurs earlier:
(i) the Confidential Information is, and at all times hereafter shall remain, the sole property of the Company (or the respective
client or third party, as the case may be); (ii) Executive shall hold the Confidential Information in confidence and shall not
disclose or cause or permit to be used or disclosed any of the Confidential Information to any third-party not employed by or
otherwise expressly associated or affiliated with the Companies; and (iii) unless the Company gives him prior express written
permission, during the Employment and thereafter, Executive shall not use for his own benefit, or divulge to any competitor, supplier,
client or customer or any other person, firm, corporation, or other entity, the Confidential Information which he may obtain,
learn about, develop, help to develop or be entrusted with as a result of or in connection with the Employment or his prior work
on behalf of the Company. Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required
by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government
agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order.

 

(e)            Executive
also acknowledges and agrees that all documentary and tangible Confidential Information, including such Confidential
Information as Executive has committed to memory, is supplied or made available by the Company to Executive solely to assist
Executive in performing services for and on behalf of the Company. Executive further agrees that after the Employment is
terminated for any reason, Executive shall not remove from the property of the Company, and shall immediately return to the
Company, all documentary or tangible Confidential Information and any other property of the Company in Executive’s
possession, custody, or control and not make or keep any copies, notes, abstracts, summaries, tapes or other record of any
type of Confidential Information. Nothing in this Agreement shall be deemed or construed to limit or take away any rights the
Company may have, at any time, under statute, common law or in equity or as to any of the Confidential Information that
constitutes a trade secret under applicable law.

 

    4

     

    

 

8.             Restrictive
Covenants. Executive understands and agrees that he has been and is being entrusted with access to and knowledge of Confidential
Information in reliance on the confidential relationship arising out of his prior membership in the Company and the Employment.
In consideration of same, the amounts to be paid and other benefits to be provided to Executive hereunder and the amounts to be
paid to Executive in connection with the closing under the Purchase Agreement, during the Employment and for a period of two (2)
years after the termination of the Employment for any reason by either party (the “Restricted Period”), without the
prior express written consent of the Company (which consent may be granted or withheld in CBD ‘s sole and absolute discretion),
Executive shall not, directly or indirectly, or by action in concert with others, for or on behalf of himself or any other person
or entity, whether as an employee, representative, contractor, agent or owner:

 

(a)             
own, manage, operate, control, participate in,
acquire any class of securities of, perform services for, or otherwise carry on, a business that is or would be in competition
with the Business as conducted or contemplated to be conducted by the Company; or

 

(b)            
call on, divert, solicit, provide services to,
accept orders from, or place orders for, any persons or entities who are or were clients or customers, or prospective clients
or customers, of the Company with respect to which, at any time during the two (2) years preceding termination of the Employment,
the Company provided, agreed to provide or made a proposal to provide, any products or services for the purposes of offering or
providing products or services similar to or competitive with those offered by the Business; or

 

(c)             
call on or solicit clients or customers, or prospective
clients or customers, of the Company with respect to any projects for which the Company has proposed or offered to provide any
services or for which the Company is providing or has been engaged to provide any services (“Pending Projects”), or
provide, accept orders for, or place orders for, any services in connection with any Pending Projects; or

 

(d)              induce
or influence, or seek to induce or influence, any person who is engaged by the Company as an employee, agent, independent
contractor or otherwise, to terminate his or her employment or engagement, or, directly or indirectly, employ or engage, or
solicit for employment or engagement, any person or entity who is or, during the one (1) year preceding termination of the
Employment was, employed or engaged by the Company; provided that the foregoing shall not apply to (i) a general solicitation
of employment that is not directed at any employee or group of employees of the Company or (ii) any former employee, agent or
independent contractor of the Company who left the employ of the Company more than one (1) year preceding termination of the
Employment; provided further that nothing in this Section 8 will prevent Executive from owning in the aggregate not more than
five percent (5%) of the outstanding equity securities of any class of a company which is publicly traded, so long as
Executive has no participation in the management of such company. In the event of a breach of this Section 8 by Executive, in
addition to all remedies available to the Company at law or in equity as a result of such breach, the Restricted Period shall
be extended for an amount of time equal to the time during which Executive was in breach of this Section 8.

 

    5

     

    

 

9.           
Intellectual Property Rights.
Executive agrees to disclose promptly to the Company, hereby assigns to the Company, and agrees to cooperate with the Company
to cause to be assigned and transferred to the Company all right, title and interest in and to, any and all inventions, whether
or not patentable and whether or not reduced to practice, and any and all software, code, programs, methods and systems, and all
other copyrightable or protectable intellectual property conceived or developed by Executive in connection with his services to
the Company, including during the Employment or during a period of one hundred twenty (120) days after the termination thereof,
either alone or jointly with others, which relate to or result from the actual or anticipated business, work, research, investigations,
products, or services of the Company, or which result, to any extent, from use of the premises or property of the Company. This
Section 9 does not apply to any inventions or other intellectual property: (i) for which no equipment, supplies, facility, or
Confidential Information of the Company were used; (ii) which were developed entirely on Executive’s own time; and (iii)
which do not relate at the time of conception or reduction to practice to the current businesses of the Company or their actual
or demonstrably anticipated research or development, or which do not result from any work performed by Executive for the Company.

 

10.       
Remedies.
Executive acknowledges and agrees that violation of any of the covenants provided for in Sections 6 through 9 of this Agreement
would cause immediate, immeasurable and irreparable harm, loss and damage to the Company not adequately compensable by a monetary
award. Accordingly, Executive agrees, without limiting any of the other remedies available to the Company, that any actual or
threatened violation of said covenants, or any of them, may be enjoined or restrained by any court of competent jurisdiction,
and that any temporary restraining order or emergency, preliminary or final injunctions may be issued by any court of competent
jurisdiction, without notice and without bond.

 

11.         Separation
Pay. If the Employment is terminated prior to the end
of the Term (i) by the Company without Cause (defined below), other than by reason of Executive’s death or Disability
(defined below), or (ii) by Executive for Good Reason (defined below), then subject to the provisions of this Section 11 and
so long as Executive is not in breach of any provision of this Agreement, the Company shall continue to pay to Executive his
then current Base Salary (as defined above) for the remainder of the Term. The Company will make such separation payments in
equal installments beginning on the first pay day of the Company following Executive’s execution of the Release (as
provided below), and continuing for the duration of the Term. As a condition precedent to Executive being entitled to and
being paid the foregoing payments and benefits under this Section 11, Executive must execute and deliver to the
Company, within twenty-one (21) days (or such longer time period as the Company may grant in its sole and absolute
discretion) of Executive’s receipt of, a general release and cooperation agreement (the “Release”) in form
and substance attached hereto as Exhibit A. If Executive chooses not to execute and deliver the Release, Executive
shall not receive any such payments, but shall remain bound by the provisions of this Agreement that survive the termination
of Executive’s Employment, including Executive’s restrictive covenants in Section 8 above. In the event of any
other termination of the Employment (other than as described in the first sentence of this paragraph), the Company shall have
no obligation to pay any severance pay or similar benefits to Executive (except for accrued and unpaid compensation through
the effective date of such termination in accordance with applicable law, unreimbursed business expenses properly incurred by
the Executive and vested benefits pursuant to the provisions of any applicable employee benefit plan of the Company), and the
Company shall have all of its rights and remedies hereunder, under any other agreement between Executive and the Company, and
under applicable law. As used herein, “Cause” means any of the following:

 

    6

     

    

 

(a)           
Any willful falsification of the Company’s
records, dishonesty in dealing with the Company, embezzlement of the Company’s money or property, perpetration of or participation
in a fraud on the Company, or any theft or misappropriation of any material tangible or intangible assets or property of the Company,
caused or directed by Executive, including any overt act by Executive in an attempt to commit any of the foregoing acts;

 

(b)            
Any act or omission by Executive that constitutes
a breach of fiduciary duty, including the duty of loyalty, or intentionally causing material damage to the Company or its property;

 

(c)             
Executive’s conviction of a felony or an
act of moral turpitude caused or directed by Executive or a charge thereof which results in Executive’s incarceration or
an impediment on Executive’s ability to work for or travel on behalf of the Company;

 

(d)            
Executive’s chronic alcoholism or addiction
to non-medically prescribed drugs, or use of alcohol or non-medically prescribed drugs, which adversely affects Executive’s
performance of his duties on behalf of the Company;

 

(e)            
A material breach by Executive of any material
obligation under this Agreement or any other written agreement Executive has entered into with the Company; or

 

(f)            
Any repeated neglect of Executive’s duties,
Executive’s repeated failure or refusal to follow Company policy or a directive of the MD or the Designee where such neglect,
failure or refusal continues for ten (10) days or more after delivery of written notice from the Company to Executive specifying
the alleged neglect, failure, or refusal.

 

Except
for a failure, breach or refusal which, by its nature, cannot reasonably be expected to be cured, the Executive shall have ten
(10) business days from the delivery of written notice by the Company within which to cure any acts constituting Cause; provided
however, that, if the Company reasonably expects irreparable injury from a delay of ten (10) business days, the Company may give
the Executive notice of such shorter period within which to cure as is reasonable under the circumstances, which may include the
termination of the Executive’s employment without notice and with immediate effect.

 

The
Executive shall be deemed to be “Disabled” when any mental or physical disability of the Executive prevents
the Executive from performing his duties as an employee of the Company for a continuous period of ninety (90) days or more, which
disability is likely to continue thereafter for an indefinite period or a definite period of more than six (6) months. In the
event of a dispute as to the existence of a disability, the Company and the Executive shall select a licensed physician certified
in the specialty that treats the cause of the disability, to make a final determination. Such physician’s fees shall be
paid for equally by the parties. Executive shall cooperate with such physician and make available to the physician all medical
records related to the disability.

 

    7

     

    

 

As
used herein, “Good Reason” shall mean any of the following:

 

a)              
a material breach of any material obligation
under this Agreement by theCompany that it has not substantially cured within ten (10) business days from the delivery of written
notice thereof by the Executive; or

 

b)              
a reduction in the Executive’s Base Salary
to which Executive has not agreed; or

 

c)             
a required relocation of the Executive’s
residence or principal place of employment to which Executive has not agreed, provided that no such relocation shall constitute
Good Reason so long as Executive is permitted to work on a remote basis to perform a substantial portion of his duties.

 

12.        
Indemnification.
The Company shall, consistent with indemnification provided by CBD and the Company to other senior executives, indemnify,
defend and hold harmless Executive from and against liability, costs and expenses he reasonably incurs with respect to any suit
or proceeding brought against him by a third party by reason of the fact that he is or was an officer or employee of the Company,
provided that, in all relevant respects, he acted in good faith and in a manner he reasonably believed to be in the best interests
of the Company.

 

13.         
Miscellaneous.

 

(a)             
Upon the reasonable request of the Company or
the MD during the term of his Employment, Executive will reasonably cooperate with the Company (at the Company’s sole cost
and expense), including assisting in the application process and submitting to a physical exam, for purposes of obtaining a key-man
life insurance policy on Executive’s life, which policy will be owned, and the cost of which will be paid, by the Company.

 

(b)             
Executive agrees that the covenants and agreements
of Executive in Sections 6 through 11 hereof shall survive the termination of the Employment.

 

(c)              It is the desire of the
parties that the provisions of this Agreement, and the intentions of the parties as expressed in this Agreement, be enforced
to the fullest extent permissible under the laws and public policies in each jurisdiction in which enforcement might be
sought. In particular, if any portion of Sections 6 through 11 of this Agreement shall ever be adjudicated as invalid or
unenforceable, or if the application thereof to any party or circumstance shall be adjudicated to be prohibited by or invalid
under such laws or public policies of any such jurisdiction, such Section or Sections shall be deemed amended to delete
therefrom such portion which was so adjudicated, such deletion to apply only with respect to the operation of such Section(s)
or Subsection(s) in the particular jurisdiction so adjudicating and on the parties and under the circumstances as to which so
adjudicated and only to the minimum extent so required, and the parties shall be deemed to have substituted for such portion
so deleted, words which give the maximum scope permitted under applicable law to such Section(s) or Subsection(s).

 

(d)             
The headings of Sections and subsections herein
are merely for convenience of reference and shall not affect the interpretations of any of the provisions hereof. Whenever the
context so requires, the plural shall include the singular and vice versa. All words and phrases shall be construed as masculine,
feminine or neuter gender, according to the context. The recitals to this Agreement are, and shall be construed to be, an integral
part of this Agreement. Whenever the term “include”, “including”, or “included” is used in
this Agreement, it shall mean including without limiting the foregoing.

 

    8

     

    

 

(e)              
This Agreement, for all purposes, shall be construed
in accordance with the laws of Illinois without regard to conflicts of law principles. Any action or proceeding by either of the
parties to enforce this Agreement shall be brought only in a state or federal court located in the state of Illinois, County of
Cook. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient
forum to the maintenance of any such action or proceeding in such venue.

 

(f)              
All discussions, correspondence, understandings,
and agreements heretofore had or made between Executive and the Company relating to Executive’s employment with the Company
are superseded by and merged into this Agreement which, together, fully and completely expresses the agreement between the Company
and Executive relating to Executive’s employment with the Company. This Agreement is entered into with neither Executive
nor the Company relying upon any statement or representation made by or on behalf of the other not embodied in this Agreement.
Any modification of this Agreement may be made only by a written agreement signed by both Executive and the Company.

 

[Signature
Page Follows.]

 

    9

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

	EXECUTIVE:	 	COMPANY:
	 	 	 	 
	 	 	GREEN EARTH DEVELOPERS, LLC, a Georgia limited liability company
	 	 	 	 
	DONALD P. REED	 	By:	 
	 	 	Name:	 
	 	 	Its:	 

 

[Signature
Page to Executive Employment Agreement]Exhibit
4.26

 

EXCHANGE
AGREEMENT (the “Agreement”) was made as of the 30th day of June, 2017 (the “Effective
Date”), by and between BlueNRGY Group Limited, an Australian corporation (the “Company”),
and _____________ (collectively the “Noteholder”) with such Agreement being executed by the parties
on _________.

 

WHEREAS,
on ____________ and [as amended on __________], the Company and the Noteholder entered into that certain Convertible Promissory
Note Agreement (the “Note Agreement”), pursuant to which, the Noteholder has lent the Company and certain
of its subsidiaries funds of ___________ (the “Notes”).

 

WHEREAS,
for the period to June 30, 2017, interest and fees have accrued, but not been paid by the Company, in the amount of _______. The
total obligations under the Notes at June 30, 2017 stands at ____________(the “Exchange Obligations”).

 

WHEREAS,
the Company has authorized the issuance of Class C Non-Voting Convertible Preferred Shares (“Class C Preferred”)
having the rights and designations set forth in the Exhibit hereto, including the right to convert Class C Preferred into Ordinary
Shares (“Conversion Shares”).

 

WHEREAS,
the Company is seeking to induce Noteholder to exchange the Exchange Obligations into Class C Preferred having an initial
Face Value equal to the amount of the Exchange Obligations on the Effective Date.

 

WHEREAS,Noteholder
is willing to exchange the Exchange Obligations on the Effective Date for Class C Preferred, subject to receiving the consideration
and the other terms and conditions set forth herein.

 

WHEREAS,the
Company has duly authorized the issuance to the Noteholder of _____________ Class C Preferred Shares (the “Exchange
Securities”).

 

WHEREAS,
the exchange of the Exchange Obligations for the Exchange Securities is being made in reliance upon an exemption from registration
as set forth in Section 3.3 of this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration
of the premises and the mutual agreements, representations and warranties, provisions and covenants contained herein, the parties
hereto, intending to be legally bound hereby, agree as follows:

 

1.           
Exchange. On the Effective Date, subject to the terms and conditions of this Agreement, the Noteholder shall, and the Company
shall, in reliance upon the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended
(the “Securities Act”), exchange the Exchange Obligations for the Exchange Securities. For purposes
hereof, “Effective Date” means June 30, 2017. On the Effective Date, the following transactions shall
occur (such transactions in this Section 1, the “Exchange”):

 

(a)
Concurrently with the Exchange, the Noteholder shall deliver or cause to be delivered to the Company (or its designee) a certificate
evidencing satisfaction in full of the Exchange Obligations, free and clear of all liens. Upon consummation of the Exchange, all
of the Noteholder’s rights in respect of the Exchange Obligations shall be extinguished.

 

(b)
On the Effective Date, the Company record in the register of Preferred Shares Noteholder’s interest in the Exchange Securities
and shall furnish Noteholder documentary evidence of such interests. The parties agree that the holding period of the Exchange
Securities and the underlying Conversion Shares, for purposes of Rule 144 under the Securities Act of 1933 tacks back to the original
issue dates of the Notes. In recognition of the duration of the holding period and the representations of Noteholder set forth
in Section 5 hereof, the Company shall make best efforts to arrange, at its sole expense, such opinion of legal counsel as may
be required by the Company’s stock transfer agent to issue Conversion Shares to Noteholder without restrictions upon any
conversion of the Exchange Securities.

 

(c)
The Company and the Noteholder shall execute and/or deliver such other documents and agreements as are customary and reasonably
necessary to effectuate the Exchange.

 

    

     

    

 

2.            
Waiver and Release.

 

2.1        
Upon consummation of the Exchange as contemplated by this Agreement, the Noteholder acknowledges satisfaction of all Obligations,
subject to the understanding that the Company’s Continuing Obligations to Noteholder remain unchanged by this Agreement.
Noteholder hereby acknowledges that such Noteholder has not relied on any representations or statements of the Company or any
other person not set forth herein.

 

3.          
Representations and Warranties of the Company. The Company hereby represents and warrants to Noteholder that:

 

3.1         
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of Australia. The Company is duly qualified to transact business and is in good standing in each jurisdiction
in which the failure to so qualify would have a material adverse effect on its business or properties.

 

3.2         
Authorization. All corporate action on the part of the Company, its officers, directors and stockholders necessary for
the authorization, execution and delivery of this Agreement and the performance of all obligations of the Company hereunder and
thereunder, including, without limitation, the authorization of the Exchange, and the issuance of the Exchange Securities have
been taken on or prior to the date hereof.

 

3.3
         Securities Law Exemptions. Assuming the accuracy of the representations and warranties of the Noteholder contained herein,
the offer and issuance by the Company of the Exchange Securities are exempt from registration under the Securities Act and all
applicable state securities laws. The offer and issuance of the Exchange Securities are exempt from registration under the Securities
Act pursuant to the exemption provided by Section 3(a)(9) or other applicable exemption thereof.

 

3.4          
Valid Issuance of the Securities. The Exchange Securities when issued and delivered in accordance with the terms of this
Agreement, for the consideration expressed herein, will be duly and validly issued, fully paid and non-assessable.

 

3.5          
No Consideration Paid. No commission or other remuneration has been paid by the Company for soliciting the exchange of
the Exchange Obligations for the Exchange Securities as contemplated hereby.

 

4.            
Registration Rights

 

4.1           Unless
Noteholder is otherwise permitted to sell the Exchange Securities and Conversion Shares pursuant to Rule 144 or any successor
rule or another applicable exemption, whenever the Company proposes to register any of its Ordinary Shares under the Securities
Act (other than a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 of the
Securities Act is applicable, or a Registration Statement on Form F-1, F-4, F-8 or any successor form thereto or another form
not available for registering the Exchange Securities for sale to the public), whether for its own account or for the account
of one or more stockholders of the Company and the form of Registration Statement to be used may be used for any registration
of registrable securities (a “Piggyback Registration”), the Company shall give prompt written notice (in any
event no later than 10 days prior to the filing of such Registration Statement) to the Noteholder of its intention to effect such
a registration and, subject to Section 4 (b) and Section 4(c) hereof, shall include in such registration all Exchange Securities
of Noteholder with respect to which the Company has received a written request for inclusion in such registration within 5 business
days after the Company’s notice has been given to Noteholder. The Company may postpone or withdraw the filing or the effectiveness
of a Piggyback Registration at any time in its sole discretion and provided further, shall have no notice obligations to Noteholder
pursuant to this Section 4 if the Company is advised in writing by the managing underwriter of a primary underwritten offering
that in its opinion that the inclusion of any registrable securities, including any Exchange Securities, in such Piggyback Registration
would adversely affect the price per share of the Company ordinary shares to be sold in such offering.

 

    

     

    

 

4.1.              
If a Piggyback Registration is initiated as a primary underwritten offering on behalf of the Company and the managing underwriter
advises the Company (if any holders of Exchange Securities have elected to include such securities in such Piggyback Registration)
in writing that in its opinion the number of Company ordinary shares proposed to be included in such registration, including all
Exchange Securities and all other Company ordinary shares proposed to be included in such underwritten offering, exceeds the number
of Company ordinary shares which can be sold in such offering and/or that the number of such ordinary shares proposed to be included
in any such registration would adversely affect the price per share of the Company ordinary shares to be sold in such offering,
the Company shall include in such registration (i) first, if applicable, the number of Company ordinary shares that the Company
proposes to sell; and (ii) second, the number of Company ordinary shares that holders of registrable securities with registration
rights senior to Noteholder propose to sell; and (iii) third, the number of Company ordinary shares requested to be included therein
by Noteholder; and (iv) fourth the number of Company ordinary shares requested to be included therein by other holders of registrable
securities, excluding Holder, allocated pro rata among all such holders on the basis of the number of registrable securities owned
by each such holder and (v) fifth, the number of Company ordinary shares requested to be included therein by holders of Company
ordinary shares (other than holders of registrable securities), allocated among such holders in such manner as they may agree.
Notwithstanding the foregoing, (a) so long as Noteholder holds Exchange Securities or Conversion Shares that Noteholder is not
permitted to sell pursuant to Rule 144 or any successor rule or other exemption, without Noteholder’s consent, no future
shareholder of the Company shall be granted piggyback registration rights after the date hereof that would reduce the number of
shares includable by Noteholder in a registration covered by these registration rights provisions; and (b) Noteholder shall have
the right to withdraw all or any portion of its Exchange Securities from a proposed registration at any time prior to the effective
date thereof. 

 

4.2.         
This Section 4 assumes a registration of registrable securities in the U.S. subject to applicable U.S. federal securities laws,
rules and regulations for a a foreign private issuer.

 

5.          
Representations and Warranties of the Noteholder. The Noteholder hereby represents, warrants and covenants that:

 

5.1         
Organization; Authority. The Noteholder has the power and authority to enter into and to consummate the transactions contemplated
hereby and otherwise to carry out its obligations hereunder. This Agreement has been duly executed by the Noteholder, and when
delivered by the Noteholder in accordance with the terms hereof, will constitute the valid and legally binding obligation of the
Noteholder, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

5.2           Own
Account. The Noteholder understands that the Exchange Securities are “restricted securities” as that term is
used in Rule 144(a)(3) and have not been registered under the Securities Act or any applicable state securities law.
Noteholder has been the beneficial owner of the Exchange Obligations for a period of at least one (1) year as computed in
accordance with paragraph (d) of the Rule 144 (the “Rule”).and acquired Noteholder’s interest in the Note
as principal for its own account and not with a view to or for distributing or reselling the Note or any securities issued
pursuant to the Note (including without limitation the Exchange Securities) or any part thereof in violation of the
Securities Act or any applicable state securities law, has no present intention of distributing any of such securities in
violation of the Securities Act or any applicable state securities law and has no direct or indirect arrangement or
understandings with any other persons to distribute or regarding the distribution of such securities (this representation and
warranty not limiting the Noteholder’s right to sell the Exchange Securities pursuant to a registration statement or
otherwise in compliance with applicable federal and state securities laws) in violation of the Securities Act or any
applicable state securities law. The Noteholder is acquiring the Exchange Securities hereunder in the ordinary course of its
business.

 

5.3          Noteholder
Status. At the time the Noteholder was offered the Exchange Securities, it was, and as of the date hereof it is either:
(i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the
Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. The
Noteholder has not participated and will not participate in the direct or indirect underwriting of any distribution of the
Exchange Securities and the Noteholder is not required to be registered as a broker-dealer under Section 15 of the Exchange
Act. Noteholder is not aware of any material, non-public information about the Company.

 

    

     

    

 

5.4          
Experience of the Noteholder. The Noteholder, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the investment in the
Exchange Securities, and has so evaluated the merits and risks of such investment. The Noteholder is able to bear the economic
risk of an investment in the Exchange Securities and, at the present time, is able to afford a complete loss of such investment.

 

5.5         
Reliance on Exemptions. The Noteholder understands that the Exchange Securities are being offered and issued to it in reliance
on specific exemptions from the registration requirements of United States federal and state securities laws and the Company and
its outside counsel, the Company’s transfer agent and Noteholder’s counsel are authorized to rely upon the truth and
accuracy of, and the Noteholder’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Noteholder set forth herein in order to determine the availability of such exemptions, the eligibility of the Noteholder
to acquire the Exchange Securities and in connection with the other matters set forth herein. Noteholder consents to its broker
communicating with the Company in connection with any sale of the Exchange Securities. 

 

5.6          
Ownership. The Noteholder is the record and beneficial owner of, and has good and marketable title to the Notes, free and
clear of any and all liens, security interests, charges or encumbrances, agreements, voting trusts, proxies or other arrangements
or restrictions of any kind whatsoever.

 

 

6.
            Director appointment rights.

 

6.1          
Upon consummation of the exchange of the Exchange Obligations for the Exchange Securities as contemplated by this Agreement, the
Company hereby grants the right, but not obligation, for the holders of the Class C Preferred shares, in aggregate, to appoint
one member to the Company’s board of directors,for so long as at least US$1,000,000 worth of Class C Preferred shares are
on issue, subject to such limitations as are required to comply with the Corporations Act 2001 (“the Act”)
and the Company’s Constitution.

 

7.            
Indemnification.

 

7.1          
Indemnification by the Company. The Company agrees to indemnify, hold harmless, reimburse and defend the Noteholder, and
its officers, directors, agents, affiliates, members, managers, control persons, and principal shareholders, against any claim,
cost, expense, liability, obligation, loss or damage (including reasonable legal fees) of any nature, incurred by or imposed upon
the Noteholder or any such person which results, arises out of or is based upon (i) any material misrepresentation by Company
or breach of any representation or warranty by Company in this Agreement or in any exhibits or schedules attached hereto, or other
agreement delivered pursuant hereto; or (ii) after any applicable notice and/or cure periods, any breach or default in performance
by the Company of any covenant or undertaking to be performed by the Company hereunder, or any other agreement entered into by
the Company and Noteholder relating hereto.

 

7.2         
Indemnification by the Noteholder. The Noteholder agrees to indemnify, hold harmless, reimburse and defend the Company
and any of its officers, directors, agents, affiliates, members, managers, control persons, and principal shareholders, against
any claim, cost, expense, liability, obligation, loss or damage of any nature, (including without limitation claims relating to
the failure to include a restrictive legend on the Exchange Securities) and reasonable legal fees related thereto,, incurred by
or imposed upon the Noteholder or any such person which results, arises out of or is based upon (i) any material misrepresentation
or misstatements of facts or the delivery of misleading or false information by the Noteholder or breach of any representation
or warranty by the Noteholder in this Agreement or in any exhibits or schedules attached hereto, or other agreement delivered
pursuant hereto; or (ii) after any applicable notice and/or cure periods, any breach or default in performance by the Noteholder
of any covenant or undertaking to be performed by the Noteholder hereunder, or any other agreement entered into by the Company
and the Noteholder relating hereto.

 

    

     

    

 

8.            
Miscellaneous

 

8.1         
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the parties hereto and the respective successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party, other than the parties hereto or their respective successors
and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

 

8.2
        Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state or federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any
such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

8.3          
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

8.4         
Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours
of the recipient; if not, then on the next business day, (c) five (5) business days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent to (a) in the case of the
Company to BlueNRGY Limited, Level 32, 200 George Street, Sydney, NSW 2000, Australia, Attention: Richard Pillinger or (b) in
the case of the Noteholder, to the address as set forth on the signature page or exhibit pages hereof or, in either case, at such
other address as such party may designate by TEN (10) business days advance written notice to the other parties hereto.

 

8.5          
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may
be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Noteholder. Any amendment or waiver effected in accordance with this paragraph shall be binding upon Noteholder
and the Company, provided that no such amendment shall be binding on a holder that does not consent thereto to the extent such
amendment treats such party differently than any party that does consent thereto.

 

8.6         
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded
and shall be enforceable in accordance with its terms.

 

8.7          
Entire Agreement. This Agreement represents the entire agreement and understandings between the parties concerning the
Exchange and the other matters described herein and therein and supersedes and replaces any and all prior agreements and understandings
solely with respect to the subject matter hereof and thereof.

 

8.8          
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

    

     

    

 

8.9          
Interpretation. Unless the context of this Agreement clearly requires otherwise, (a) references to the plural include the
singular, the singular the plural, the part the whole, (b) references to any gender include all genders, (c) “including”
has the inclusive meaning frequently identified with the phrase “but not limited to” and (d) references to “hereunder”
or “herein” relate to this Agreement.

 

[SIGNATURES
ON THE FOLLOWING PAGE]

 

    

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date provided above.

 

	 	THE
COMPANY
	 	 	 
	 	BLUENRGY
GROUP LIMITED
	 	 	 
	 	By:
	   
       
	 	 	Name:
Richard Pillinger
	 	 	Title:
Chief Financial Officer and Secretary

 

	 	NOTEHOLDER:
	 	 	 
	 	[NOTEHOLDER NAME]
	 	 	   
	 	By: 	 
	 	 	Name: 
	 	 	Title: 

 

[Signature
Page to Note Exchange Agreement]

 

    

     

    

 

Exhibit
to Note Exchange Agreement

 

Rights
and Preferences of BlueNRGY Group Limited Class C Preferred Stock

 

The
terms and conditions which apply to the Class C Preference Shares (“Class C Preferred”) are as follows:

 

Each
Class C Preferred share confers on the holder:

  

		(i)	in
                                         liquidation:

 

		a.	the
                                         right to a preference over the holders of the Company’s ordinary shares in an amount
                                         equal to the Face Value of each such share, which equals one U.S. dollar (US $1.00);
                                         
		b.	the
                                         right to distribution of the Face Value paripasu with the distribution rights of then
                                         outstanding Class B Preference Shares, if any. 

 

		(ii)	voting
                                         rights in relation to Class C Preferred matters only, such matters being those relating
                                         to;

		a.	circumstances
                                         where a dividend in respect of Class C Preferred shares is unpaid by the Company;
		b.	a
                                         proposal to reduce the Company’s share capital;
		c.	a
                                         resolution to approve the terms of a buy-back agreement;
		d.	a
                                         proposal that affects the rights attached to Class C Preferred shares;
		e.	a
                                         proposal to wind up the Company;
		f.	a
                                         proposal for the disposal of the whole of the Company’s property, business and
                                         undertaking; or
		g.	a
                                         vote during the Company’s winding up.

 

		(iii)	no
                                         voting rights in relation to other matters of the Company.

 

		(iv)	a
                                         right to receive dividends, if lawfully payable or declared, on an as-if-converted basis.

 

		(v)	The
                                         Company shall have the right to redeem any number of Class C Preferred shares at any
                                         time at its sole discretion, subject to the Act, for Face Value plus 20% per annum of
                                         Face Value, pro-rated from the date of issuance of the Class C Preferred shares.

 

		(vi)	The
                                         Class C Preferred shares will be converted to ordinary shares (“Conversion
                                         Shares”) from time to time by the Company at its discretion or promptly
                                         upon demand of the Noteholder, provided that no such conversion shall be allowed if it
                                         would result in any person acquiring a relevant interest in any shares that leads to
                                         any person acquiring voting power in the Company of more than 19.9% of outstanding voting
                                         shares of the Company following the issuance (“Threshold Percentage”).
                                         

 

		(vii)	The
                                         Threshold Percentage limitation does not apply:

		a.	in
                                         connection with a sale or merger of the Company affecting 100% of the outstanding equity;
                                         or
		b.	if
                                         requisite shareholder approval has been obtained to permit such conversion in accordance
                                         with Chapter 6 of the Corporations Act. The Company is to seek such approval promptly
                                         following the earliest time it believes the requisite approval can be obtained.

 

		(viii)	 The Conversion
                                                                                                                                                    Price is US$0.50 per ordinary share, subject to the following:

		a.	The
                                         Conversion Price shall be adjusted up or down as applicable to reflect any stock consolidations,
                                         splits or any other reconstructions or reorganisations of the Company’s issued
                                         capital; and
		b.	The
                                         Conversion Price of all unconverted Class C Preferred Shares shall automatically be adjusted
                                         downward if, at any time after the issuance date of such shares, the Company issues,
                                         pursuant to approval by the majority of disinterested members of the Board, additional
                                         equity or equity-linked securities from one or more third parties at a lower price per
                                         ordinary share than the Conversion Price and in an amount aggregating in excess of US$1.0
                                         million, in which case the adjustment would be such lower amount.
		c.	For
                                         the avoidance of doubt, the number of times the Conversion Price may be adjusted pursuant
                                         to clause (viii)(b) is not limited.

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