Document:

EX-10.1

 Exhibit 10.1 

MEMBERSHIP INTEREST PURCHASE AGREEMENT 

by and among 
 ACTUA
CORPORATION, 
 ACTUA HOLDINGS, INC. 

ARSENAL BUYER INC., and 

ARSENAL ACQUISITION HOLDINGS, LLC 

SEPTEMBER 23, 2017 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE 1 DEFINITIONS	  	 	2	 
	 Section 1.01.
	 	 Definitions
	  	 	2	 
	 Section 1.02.
	 	 Other Definitional and Interpretative Provisions
	  	 	15	 
		
	ARTICLE 2 THE CLOSING	  	 	15	 
	 Section 2.01.
	 	 The Closing
	  	 	15	 
	 Section 2.02.
	 	 Sale and Purchase of Company Interests
	  	 	15	 
	 Section 2.03.
	 	 Purchase Price
	  	 	16	 
	 Section 2.04.
	 	 Closing Purchase Price Adjustment
	  	 	17	 
	 Section 2.05.
	 	 Withholding Rights
	  	 	17	 
	 Section 2.06.
	 	 Further Assurances
	  	 	17	 
	 Section 2.07.
	 	 FIRPTA Certificate
	  	 	17	 
		
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY	  	 	17	 
	 Section 3.01.
	 	 Corporate Existence and Power
	  	 	18	 
	 Section 3.02.
	 	 Organizational Documents
	  	 	18	 
	 Section 3.03.
	 	 Corporate Authorization
	  	 	18	 
	 Section 3.04.
	 	 Governmental Authorization
	  	 	18	 
	 Section 3.05.
	 	 Non-Contravention
	  	 	19	 
	 Section 3.06.
	 	 Capitalization
	  	 	19	 
	 Section 3.07.
	 	 Subsidiaries
	  	 	20	 
	 Section 3.08.
	 	 Financial Statements
	  	 	21	 
	 Section 3.09.
	 	 Absence of Certain Changes
	  	 	21	 
	 Section 3.10.
	 	 No Undisclosed Liabilities
	  	 	21	 
	 Section 3.11.
	 	 Litigation
	  	 	21	 
	 Section 3.12.
	 	 Compliance with Applicable Law
	  	 	22	 
	 Section 3.13.
	 	 Material Contracts
	  	 	23	 
	 Section 3.14.
	 	 Taxes
	  	 	25	 
	 Section 3.15.
	 	 Employee Benefit Plans
	  	 	26	 
	 Section 3.16.
	 	 Labor and Employment Matters
	  	 	28	 
	 Section 3.17.
	 	 Environmental Matters
	  	 	29	 
	 Section 3.18.
	 	 Intellectual Property
	  	 	29	 
	 Section 3.19.
	 	 Real Property; Property
	  	 	31	 
	 Section 3.20.
	 	 Related Party Transactions
	  	 	32	 
	 Section 3.21.
	 	 Insurance
	  	 	33	 
		
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES REGARDING SELLER	  	 	33	 
	 Section 4.01.
	 	 Corporate Existence and Power
	  	 	34	 
	 Section 4.02.
	 	 Corporate Authorization; Enforceability
	  	 	34	 
	 Section 4.03.
	 	 Governmental Authorization
	  	 	34	 
	 Section 4.04.
	 	 Non-Contravention
	  	 	34	 
	 Section 4.05.
	 	 Title to Company Interests
	  	 	35	 
	 Section 4.06.
	 	 Litigation
	  	 	35	 
	 Section 4.07.
	 	 Compliance with Applicable Law
	  	 	35	 
	 Section 4.08.
	 	 Brokers’ Fees
	  	 	35	 

							
	ARTICLE 5 REPRESENTATIONS AND WARRANTIES REGARDING PARENT	  	 	35	 
	 Section 5.01.
	 	 Corporate Existence and Power
	  	 	36	 
	 Section 5.02.
	 	 Corporate Authorization
	  	 	36	 
	 Section 5.03.
	 	 Governmental Authorization
	  	 	36	 
	 Section 5.04.
	 	 Non-Contravention
	  	 	36	 
	 Section 5.06.
	 	 Disclosure Documents
	  	 	37	 
	 Section 5.07.
	 	 SEC Filings and the Sarbanes-Oxley Act
	  	 	38	 
	 Section 5.08.
	 	 Litigation
	  	 	38	 
	 Section 5.09.
	 	 Compliance with Applicable Law
	  	 	38	 
	 Section 5.10.
	 	 Brokers’ Fees
	  	 	38	 
	 Section 5.11.
	 	 Vote Required
	  	 	38	 
	 Section 5.12.
	 	 Takeover Laws
	  	 	39	 
	 Section 5.13.
	 	 Opinion of Financial Advisor
	  	 	39	 
	 Section 5.14.
	 	 No Other Representations or Warranties
	  	 	39	 
		
	ARTICLE 6 REPRESENTATIONS AND WARRANTIES REGARDING BUYER	  	 	39	 
	 Section 6.01.
	 	 Corporate Existence and Power
	  	 	39	 
	 Section 6.02.
	 	 Authorization; Enforceability
	  	 	40	 
	 Section 6.03.
	 	 Governmental Authorization
	  	 	40	 
	 Section 6.04.
	 	 Non-Contravention
	  	 	40	 
	 Section 6.05.
	 	 No Vote of Buyer Stockholders; Required Approval
	  	 	40	 
	 Section 6.06.
	 	 Disclosure Documents
	  	 	41	 
	 Section 6.07.
	 	 Litigation
	  	 	41	 
	 Section 6.08.
	 	 Ownership
	  	 	41	 
	 Section 6.09.
	 	 Buyer Material Adverse Effect
	  	 	41	 
	 Section 6.10.
	 	 Availability of Funds
	  	 	41	 
	 Section 6.11.
	 	 Solvency
	  	 	42	 
	 Section 6.12.
	 	 Brokers’ Fees
	  	 	43	 
	 Section 6.13.
	 	 No Other Representations or Warranties
	  	 	43	 
		
	ARTICLE 7 COVENANTS	  	 	44	 
	 Section 7.01.
	 	 Conduct of the Company
	  	 	44	 
	 Section 7.02.
	 	 Unsolicited Proposals
	  	 	47	 
	 Section 7.03.
	 	 Proxy Statement; Stockholders Meeting
	  	 	50	 
	 Section 7.04.
	 	 Access to Information; Confidentiality
	  	 	51	 
	 Section 7.05.
	 	 Notice of Certain Events
	  	 	54	 
	 Section 7.06.
	 	 Employee Benefit Plan Matters
	  	 	54	 
	 Section 7.07.
	 	 State Takeover Laws
	  	 	55	 
	 Section 7.08.
	 	 Obligations of Buyer
	  	 	55	 
	 Section 7.09.
	 	 Director and Officer Liability
	  	 	56	 
	 Section 7.10.
	 	 Efforts
	  	 	58	 
	 Section 7.11.
	 	 Stockholder Litigation
	  	 	60	 
	 Section 7.12.
	 	 Public Announcements
	  	 	60	 
	 Section 7.13.
	 	 Debt Financing
	  	 	60	 
	 Section 7.14.
	 	 Matters Prior to a Bolt Sale
	  	 	63	 
	 Section 7.15.
	 	 Matters Following a Bolt Sale
	  	 	65	 

							
	 Section 7.16.
	 	 Director Resignations
	  	 	67	 
	 Section 7.17.
	 	 Release
	  	 	68	 
	 Section 7.18.
	 	 Mail; Payments; Misallocated Assets
	  	 	68	 
	 Section 7.19.
	 	 Matters Relating to Parent and its Affiliates
	  	 	69	 
	 Section 7.20.
	 	 Tax Matters
	  	 	69	 
		
	ARTICLE 8 CONDITIONS TO THE CLOSING	  	 	72	 
	 Section 8.01.
	 	 Conditions to the Obligations of Each Party
	  	 	72	 
	 Section 8.02.
	 	 Conditions to the Obligations of Buyer
	  	 	72	 
	 Section 8.03.
	 	 Conditions to the Obligations of Seller and Parent
	  	 	73	 
	 Section 8.04.
	 	 Frustration of Closing Conditions
	  	 	73	 
		
	ARTICLE 9 TERMINATION	  	 	74	 
	 Section 9.01.
	 	 Termination
	  	 	74	 
	 Section 9.02.
	 	 Effect of Termination
	  	 	75	 
	 Section 9.03.
	 	 Financing Sources
	  	 	76	 
		
	ARTICLE 10 INDEMNIFICATION	  	 	76	 
	 Section 10.01.
	 	 Indemnification by Seller and Parent
	  	 	76	 
	 Section 10.02.
	 	 Procedure with Respect to Direct Claims
	  	 	76	 
	 Section 10.03.
	 	 Procedure with Respect to Third-Party Actions
	  	 	77	 
	 Section 10.04.
	 	 Tax Matters
	  	 	79	 
		
	ARTICLE 11 MISCELLANEOUS	  	 	79	 
	 Section 11.01.
	 	 Notices
	  	 	79	 
	 Section 11.02.
	 	 Survival of Representations, Warranties and Covenants
	  	 	81	 
	 Section 11.03.
	 	 Amendments and Waivers.
	  	 	81	 
	 Section 11.04.
	 	 Fees; Expenses
	  	 	82	 
	 Section 11.05.
	 	 Buyer Termination Fee
	  	 	84	 
	 Section 11.06.
	 	 Assignment; Benefit
	  	 	85	 
	 Section 11.07.
	 	 Governing Law
	  	 	86	 
	 Section 11.08.
	 	 Jurisdiction
	  	 	86	 
	 Section 11.09.
	 	 Waiver of Jury Trial
	  	 	86	 
	 Section 11.10.
	 	 Specific Performance; Remedies
	  	 	87	 
	 Section 11.11.
	 	 Severability
	  	 	88	 
	 Section 11.12.
	 	 Entire Agreement
	  	 	88	 
	 Section 11.13.
	 	 Rules of Construction
	  	 	88	 
	 Section 11.14.
	 	 Counterparts; Effectiveness
	  	 	89	 
	 Section 11.15.
	 	 Parent Guarantee
	  	 	89	 

 Exhibit 

							
	 Exhibit A
	 	 Representative Side Letter
	  			

 Schedules 

Seller Disclosure Schedules 
 Bolt
Schedule 
 Efforts Schedule 

Parent Indemnity Schedule 
  

 CONFIDENTIAL 

MEMBERSHIP INTEREST PURCHASE AGREEMENT 

THIS MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Agreement”), dated as of September 23, 2017, is entered into by and
among Actua Corporation, a Delaware corporation (“Parent”), Actua Holdings, Inc., a Delaware corporation (“Seller”), Arsenal Buyer Inc., a Delaware corporation (“Buyer”), and Arsenal Acquisition
Holdings, LLC, a Delaware limited liability company (the “Company”). 
 WHEREAS, Seller owns all of the issued and
outstanding membership interests (the “Company Interests”) of the Company; 
 WHEREAS, the Company owns directly or
indirectly (a) 4,289,547 shares of the issued and outstanding common stock, par value $0.001 per share of VelocityEHS Holdings, Inc., a Delaware corporation (“Velocity Holdings”), and (b) 1,337,796 shares of the issued and
outstanding Series A-1 convertible preferred stock, 199,351 shares of the issued and outstanding Series B convertible preferred stock, 142,393 shares of the issued and outstanding Series B-1 convertible preferred stock, 2,368,685 shares of the issued and outstanding Series C convertible preferred stock, and 6,972,017 shares of the issued and outstanding Series D convertible preferred stock, each
such series of preferred stock par value $0.01 per share; warrants to acquire 588,380 shares of Series D convertible preferred stock and 544,162 shares of Series E convertible preferred stock, par value $0.01 per share; and certain debt arrangements
of BOLT Solutions Inc., a Delaware corporation (“Bolt Holdings”), as set forth on Section 1.01(a) of the Seller Disclosure Schedules;  

WHEREAS, the Seller Board and the Board of Directors of Buyer have each approved this Agreement and the acquisition of the Company Interests
by Buyer on the terms and subject to the conditions set forth in this Agreement (such acquisition, together with the other transactions contemplated by this Agreement, the “Transactions”); 

WHEREAS, the Seller Board has determined that this Agreement and the Transactions are advisable, fair to and in the best interests of Parent;

 WHEREAS, the Transactions may be deemed to constitute a sale of all or substantially all of the assets of Parent and, therefore, approval
of the Transactions by Parent’s stockholders is required under Section 271 of the DGCL; 
 WHEREAS, the Parent Board has
(a) determined that this Agreement and the Transactions are advisable, fair to and in the best interest of Parent’s stockholders, (b) approved and declared advisable this Agreement and the Transactions on the terms and subject to the
conditions set forth herein and (c) determined to recommend that the stockholders of Parent approve the Transactions and adopt this Agreement; 

WHEREAS, to induce Buyer to enter into this Agreement and to consummate the Transactions, certain members of management of Velocity Holdings
or its subsidiaries are concurrently entering into certain employment agreements or restrictive covenant agreements on the date hereof, to be effective on the Closing Date; 
  

 WHEREAS, concurrently with the execution of this Agreement, (i) certain management
stockholders of Velocity Holdings are entering into rollover contribution agreements with respect to the contribution of shares of common stock of Velocity Holdings owned by them in exchange for limited partnership interests of an indirect parent
entity of Buyer in accordance with the terms and subject to the conditions set forth therein, and (ii) such management stockholders of Velocity Holdings and certain members of management of Velocity Holdings or its subsidiaries are entering
into subscription agreements for limited partnership interests of an indirect parent entity of Buyer in accordance with the terms and subject to the conditions set forth therein; and 

WHEREAS, concurrently with the execution of this Agreement, and as a condition to the willingness of Seller to enter into this Agreement, CVC
Growth Partners L.P., CVC Growth Partners Co-Investment L.P. and CVC Growth Partners Associates L.P. (collectively, the “Sponsors”) are delivering to (i) Buyer, an equity commitment
letter, dated as of the date hereof (the “Equity Commitment Letter”), and (ii) Seller, a limited guarantee, dated as of the date hereof (the “Sponsor Guarantee”), pursuant to which the Sponsors, on the terms
and subject to the conditions contained therein, will guarantee certain specified obligations of Buyer with respect to the Buyer Termination Fee (as defined below) in connection with this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below,
the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Definitions. As used herein, the following terms have the following meanings: 

“Acceptable Confidentiality Agreement” means a confidentiality agreement containing terms, in the aggregate, no more favorable
to the Third Party that is party to such agreement and its Affiliates and Representatives than the terms set forth in the Confidentiality Agreement are to Buyer and its Affiliates and Representatives and which does not contain any provision that
would prevent Seller from complying with its obligation to provide any disclosure to Buyer required pursuant to Section 7.02; provided, however, that such confidentiality agreement shall not be required to
include standstill provisions. 
 “Acquisition Proposal” means any offer or proposal (other than an offer or proposal made
or submitted by or on behalf of Buyer) related to an Acquisition Transaction. 
 “Acquisition Transaction” means any
transaction or series of related transactions with a Person or “group” (as defined in the Exchange Act) relating to or involving (i) the acquisition of at least fifteen percent (15%) of the assets of, equity interests in or business
(as determined by reference to consolidated revenues) of the Company and the Company Subsidiaries, taken as a whole, (ii) any merger, reorganization, recapitalization, consolidation or other business combination, sale of shares of capital stock
or other equity interests, sale of assets, tender offer, exchange offer or other similar transaction of the Company and the Company Subsidiaries or (iii) 

  
 2 

 
any combination of the foregoing; provided, that any transaction or series of related transactions with respect to the acquisition of the assets of, equity interests in, or business of
Velocity (other than acquisitions of goods or services in the ordinary course of business) shall be deemed an “Acquisition Transaction” for purposes of this Agreement. For the avoidance of doubt, a Bolt Sale shall not constitute an
“Acquisition Transaction.” 
 “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly, including through one or more intermediaries, controls, is controlled by or is under common control with such Person. As used in this definition, the term “controls” (including the terms “controlled by” and
“under common control with”) means possession, directly or indirectly, including through one or more intermediaries, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of
voting securities, by Contract or otherwise; provided, that none of the following shall be deemed to be Affiliates of Buyer: (a) any fund managed or advised by CVC Capital Partners Advisory (U.S.), Inc., (b) portfolio companies in which
any investment fund or vehicle managed or advised by any Person described in clause (a) holds an interest or investment and (c) CVC Credit Partners Group Holding Foundation and each of its Subsidiary and parent entities from time to time.

 “Anti-Corruption Laws” means the U.S. Foreign Corrupt Practices Act of 1977, as amended, the U.S. Travel Act, 18 U.S.C.
§ 1952, the U.K. Bribery Act of 2010, any applicable Law enacted in connection with, or arising under, the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions; or any other applicable Laws of
any Governmental Authority relating to bribery or corruption. 
 “Balance Sheets” means the Bolt Balance Sheet and the
Velocity Balance Sheet. 
 “Balance Sheet Date” means June 30, 2017. 

“Bolt” means Bolt Holdings and its Subsidiaries. 

“Bolt Balance Sheet” has the meaning set forth in the definition of “Financial Statements.” 

“Bolt Interest” means all of the capital stock, convertible securities, debt securities and other equity or debt investments
(including a line of credit facility) held by the Company or any of its Subsidiaries in Bolt. 
 “Bolt Ownership Expenses”
means, if a Bolt Sale Agreement is entered into prior to the Bolt Sale Deadline, all reasonable documented out-of-pocket costs, fees and expenses incurred, and
expenditures made or paid, after the Closing Date until all Bolt Proceeds have been paid in accordance with the Bolt Sale Agreement, as a result of, or in connection with, the ownership, operation and maintenance of the Bolt Interest, Bolt or any
escrow account under the Bolt Sale Agreement, including capital contributions, investments or loans made by Buyer or any of its Affiliates, including any accrued dividends or interest thereon, in or to Bolt, but excluding Taxes other than property
taxes. 

  
 3 

 “Bolt Proceeds” means actual cash proceeds to the Company or any Company
Subsidiary or other Affiliate (including any Affiliate of Buyer after the Closing) from a Bolt Sale regardless of when paid. 

“Bolt Proceeds Post-Closing Reduction Amount” means the sum of (a) the aggregate amount, without duplication, of
(i) Bolt Ownership Expenses incurred or paid by Buyer or any of its Affiliates from and after the Closing until all Bolt Proceeds have been paid in accordance with the Bolt Sale Agreement and (ii) Bolt Sale Expenses incurred or paid by
(x) Seller or any of its Affiliates prior to the Closing and (y) Buyer or any of its Affiliates from and after the Closing until all Bolt Proceeds have been paid in accordance with the Bolt Sale Agreement, plus (b) with respect
to any Bolt Proceeds received by Buyer or any of its Affiliates after the Closing, the product of (i) the federal corporate income tax rate in effect for the year such Bolt Proceeds are received
and (ii) the capital or ordinary gain required to be recognized by Buyer or any of its Affiliates upon receipt of such Bolt Proceeds and any amount required to be included as interest (as determined for U.S. federal income tax purposes)
of Buyer or any of its Affiliates attributable to the receipt of such Bolt Proceeds. 
 “Bolt Proceeds Pre-Closing Reduction Amount” means all out-of-pocket costs, fees and expenses of the Company and the Company Subsidiaries
arising out of or relating to the Bolt Sale incurred or paid by the Company and the Company Subsidiaries or their Affiliates prior to the Closing. 

“Bolt Sale” means a transaction or series of related transactions (other than the purchase and sale of the Company Interests
contemplated by this Agreement) with respect to the sale of the Bolt Interest in its entirety to a third party, whether sold independently or as part of a larger transaction. 

“Bolt Sale Agreement” means a fully executed binding definitive transaction document providing for a Bolt Sale. 

“Bolt Sale Deadline” has the meaning set forth in the Bolt Schedule. 

“Bolt Sale Expenses” means (a) fifty percent (50%) of all documented out-of-pocket costs, fees or expenses (including any broker fees, finder’s fees, advisory fees, accountant or attorney’s fees and disbursements and transfer taxes imposed by any jurisdiction)
incurred or paid after the date hereof by Seller, Buyer, the Company or any of their respective Affiliates in connection with (i) the process of selling or seeking to sell, or any proposed sale or sale of, all or any portion of the Bolt
Interest or (ii) the process of collecting or seeking to collect any escrow, holdback, deferred cash consideration, contingent or similar amounts with respect to the Bolt Sale by Buyer or any of its Affiliates and Seller and (b) fifty
percent (50%) of the fees and expenses of the Accounting Firm. 
 “Business” means the business, activities and operations
of the Company and its Subsidiaries, including Velocity and Bolt, as conducted on the date of this Agreement or the Closing. 

  
 4 

 “Business Day” means a day other than Saturday, Sunday or any other day on which
commercial banks in New York, New York are authorized or required by applicable Law to close. 
 “Buyer Material Adverse
Effect” means any Effect that, individually or in combination with any other Effect, does or would reasonably be expected to prevent or materially delay, interfere with, impair or hinder Buyer from performing any of its obligations under
this Agreement or consummating the Transactions. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Company IP Rights” means all Intellectual Property owned or purported to be owned by the Company and the Company
Subsidiaries. 
 “Company Material Adverse Effect” means any circumstance, event, change, development, occurrence or effect
(each, an “Effect”) that has had or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the business, financial condition, assets or results of operations of the Company and the
Company Subsidiaries, taken as a whole; provided, however, that no Effect shall constitute or contribute to a Company Material Adverse Effect to the extent that such Effect arises out of, or results directly or indirectly from, and
none of the following will be taken into account in determining whether a Company Material Adverse Effect has occurred or is continuing or would reasonably be expected to occur: (a) general economic, business or regulatory conditions in the
United States or elsewhere in the world; (b) credit, debt, financial or capital markets, interest or exchange rates or commodity prices, in each case, in the United States or elsewhere in the world; (c) conditions generally affecting the
industry in which the Company and the Company Subsidiaries operate; (d) any national or international political conditions, any military conflict, declared or undeclared war, armed hostilities, acts of foreign or domestic terrorism or civil
disobedience; (e) any hurricane, flood, tornado, earthquake or other natural disaster or pandemic; (f) changes or proposed changes in any applicable Law or GAAP (or interpretation thereof); (g) any failure by the Company or any of the
Company Subsidiaries to meet any internal or external projections, estimates, expectations, earnings predictions or forecasts for any period, or to meet its internal budgets, plans or forecasts of its revenues, earnings or other financial
performance or results of operations for any period (but excluding, in each case, the underlying causes of such failure unless such underlying causes would otherwise be excepted from this definition); (h) changes in the trading volume or trading
price of the Parent Common Stock or Parent’s credit rating (but excluding, in each case, the underlying causes of such changes unless such underlying causes would otherwise be excepted from this definition); (i) other than with respect to the
representations and warranties set forth in Section 3.04, Section 3.05, Section 3.06, Section 4.03, Section 4.04,
Section 5.03 and Section 5.04 and the conditions set forth in Section 8.02(a) to the extent relating to such representations and warranties, the public announcement or
pendency of this Agreement or the anticipated consummation of the Transactions (including the identity of Buyer as the acquirer of the Company or any disclosure by Buyer regarding its or its Affiliates’ plans with respect to the conduct of the
Company’s business following the Closing), including the impact thereof on relationships, contractual or otherwise, with officers, employees, customers, suppliers, distributors, vendors, licensors, licensees, lenders or Governmental Authorities
or governmental officials; (j) any action required to be taken by Seller or any of its 

  
 5 

 
Subsidiaries pursuant to this Agreement; or (k) other than with respect to the representations and warranties set forth in Section 3.04,
Section 3.05, Section 3.06, Section 3.07(b), Section 4.03, Section 4.04, Section 5.03 and
Section 5.04 and the conditions set forth in Section 8.02(a) to the extent relating to such representations and warranties, any Stockholder Litigation; provided, that in the cases of clause (a), (b), (c), (d)
and (e), any Effect may be taken into account in determining whether a Company Material Adverse Effect has occurred or is continuing or would reasonably be expected to occur to the extent such Effect has had or would reasonably be expected to have a
disproportionate effect on the Company and the Company Subsidiaries as compared to other participants in the industries in which the Company and the Company Subsidiaries operate. 

“Company Subsidiary” means each Subsidiary of the Company. For the avoidance of doubt, Velocity and Bolt shall be considered
“Company Subsidiaries” for all purposes of this Agreement.  
 “Compliant” means, with respect to the
Required Financial Information, that: (a) the Required Financial Information does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the Required Financial Information not
misleading in light of the circumstances in which made; (b) the applicable auditors have not withdrawn any audit opinion with respect to any audited financial statements contained in the Required Financial Information; and (c) it shall not
become necessary to restate any historical financial statements included in the Required Financial Information, and no such restatement shall be under consideration. 

“Confidentiality Agreement” means the confidentiality letter agreement, dated as of March 31, 2017, between CVC Capital
Partners Advisory (U.S.), Inc. and the Company. 
 “Contract” means any legally binding contract, agreement or other
legally binding instrument, obligation, arrangement or understanding of any kind, including any legally binding note, bond, indenture, mortgage, guarantee, undertaking, commitment, promise, option, lease, sublease, license, sublicense, joint
venture, warranty or sales or purchase order. 
 “Copyrights” has the meaning set forth in the definition of
“Intellectual Property.” 
 “Data Room” means the electronic data site established for Project Arsenal by Merrill
Corporation on behalf of Parent and Seller and to which Buyer and its Representatives have been given access in connection with the Transactions. 

“Deferred Bolt Proceeds” means any Bolt Proceeds consisting of deferred cash consideration (including any escrow or holdback
amount) remaining to be paid following the closing of a Bolt Sale. 
 “DGCL” means the Delaware General Corporation Law.

 “DOJ” means the U.S. Department of Justice. 

“Effect” has the meaning set forth in the definition of “Company Material Adverse Effect.” 

  
 6 

 “Environmental Law” means any applicable Law relating to (a) pollution, (b)
the protection of the environment or natural resources or (c) Releases of or exposure to Hazardous Substances. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” of any entity means any other entity that, together with such entity, would be treated as a single employer
within the meaning of Section 414(b), (c), (m) or (o) of the Code or Section 4001(b)(1) of ERISA. 

“Evercore” means Evercore Group LLC. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder. 

“Facilities” means all real property owned, leased, or operated by the Company or any Company Subsidiaries and any buildings,
facilities, and other improvements, and structures located on, in, under, or above such real property. 
 “Financial
Statements” means the unaudited consolidated financial statements consisting of the consolidated balance sheets and related consolidated statements of operations and comprehensive income (loss) and cash flows of (a) Velocity as of and
for the fiscal years ended December 31, 2016 and December 31, 2015 and the eight (8) months ended August 31, 2017 (such balance sheets, collectively, the “Velocity Balance Sheet”) and (b) Bolt as of and for
the fiscal years ended December 31, 2016 and December 31, 2015 and the six (6) months ended June 30, 2017 (such balance sheets, collectively, the “Bolt Balance Sheet”). 

“Financing Sources” means the lenders party to the Debt Commitment Letter and their respective Affiliates and, for purposes
of Section 9.03 and Section 11.06(b) (to the extent applicable to Section 9.03), the respective partners, stockholders, members, directors, officers, employees, advisors,
agents and representatives of the foregoing and the heirs, executors, successors and assigns of any of the foregoing. 

“FTC” means the U.S. Federal Trade Commission. 

“GAAP” means United States generally accepted accounting principles. 

“Government Contract” means any prime contract, subcontract (at any tier), supply agreement, teaming agreement or
arrangement, joint venture, basic ordering agreement, blanket purchase agreement, letter agreement, grant, cooperative agreement, classified contract or other commitment or funding vehicle between the Company or any Company Subsidiary and (a) a
Governmental Authority, (b) any prime contractor to a Governmental Authority or (c) any subcontractor at any tier with respect to any contract described in clause (a) or (b). Government Contract also means any Contract with another
Person that contemplates future contracting with a Governmental Authority (directly or indirectly). 

  
 7 

 “Governmental Authority” means any U.S. or
non-U.S. federal, state, provincial, local or other government, department, authority, court, tribunal, commission, regulatory body or self-regulatory body (including
any securities exchange), or any political or other subdivision, department, agency or branch of any of the foregoing. 
 “Hazardous
Substance” means any pollutant, contaminant, petroleum or any fraction thereof, asbestos or asbestos-containing material, polychlorinated biphenyls, toxic or hazardous substance, material, waste or agent, including all such substances,
materials, wastes or agents which are identified, regulated by, or the subject of liability or requirements for investigation or remediation under Environmental Law. 

“HSR Act” means the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended, and any rules and regulations promulgated thereunder. 
 “Indebtedness” of
any Person at any date means, without duplication, all obligations of such Person (a) for borrowed money; (b) evidenced by a note, debenture, bond or other similar debt security; (c) for the deferred purchase price of property or
services whether fixed or contingent, including any “earnouts” and holdbacks; (d) under any performance bond, banker’s acceptance or letter of credit, but only to the extent drawn as of such date; (e) due and owing under any
interest rate swap, forward contract or other interest rate hedging arrangement (which amount may be a positive or negative number); (f) for any unpaid principal, accrued and unpaid interest, prepayment penalties, breakage costs, premiums and other
expenses incurred in connection with the repayment of any items described in clauses (a) – (e); and (g) all obligations to guarantee such obligations set forth in clauses (a) – (f) of a third party. 

“Intellectual Property” means all intellectual property rights in any jurisdiction, whether registered or unregistered,
including: (a) patents and patent applications and any and all divisions, extensions, continuations, continuations-in-part, reexaminations, continuing patent
applications, reissues and counterparts claiming priority therefrom (collectively, “Patents”), and inventions, whether or not patentable; (b) trademarks, service marks and trade dress (collectively, “Marks”)
and Internet domain names; (c) copyrights and copyrightable works (collectively, “Copyrights”); (d) computer programs (whether in source code, object code, executable code or human readable form) (collectively,
“Software”); and (e) trade secrets (as defined in the Uniform Trade Secrets Act and under corresponding state or foreign statutory law and common law) and confidential know-how and
information (collectively, “Trade Secrets”); as well as, in clauses (a) – (d) above, any registrations of, applications for registration and renewals and extensions thereof with or by any Governmental Authority in any
jurisdiction. 
 “IRS” means the Internal Revenue Service. 

“Law” means any United States, federal, state or local or any foreign law (in each case, statutory, common or otherwise),
constitution, treaty, convention, ordinance, code, rule, statute, regulation or other similar requirement enacted, issued, adopted, promulgated, entered into or applied by a Governmental Authority. 

“Liabilities” means any and all Indebtedness, liabilities, commitments or obligations, whether accrued or fixed, known or
unknown, absolute or contingent, matured or unmatured, liquidated or unliquidated, determined or determinable, on- or off-balance sheet, and whether arising in the past,
present or future, and including those arising under any Contract, Proceeding or Order. 

  
 8 

 “Lien” means, with respect to any property or asset, any charge, claim, adverse
interest, community property interest, pledge, hypothecation, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, deed of trust, encumbrance, easement, encroachment, lease, sublease, license, right of way,
right of first refusal or restriction of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership, or any interest or restriction similar in substance to any of the foregoing.

 “Made Available” means that such information, document or material was (a) publicly available on the SEC EDGAR
database, (b) made available for review by Buyer or Buyer’s Representatives in the Data Room or (c) otherwise provided by or on behalf of Parent and Seller to Buyer or Buyer’s Representatives, in the case of clauses (a), (b) and
(c), prior to the date hereof. 
 “Marks” has the meaning set forth in the definition of “Intellectual Property.”

 “Minority Investment” means with respect to any Person, any other Person with respect to which such first Person (alone
or in combination with any of such first Person’s other Subsidiaries) has an interest but owns less than a majority of the outstanding voting securities of such Person on an as-converted basis. 

“NASDAQ” means The NASDAQ Stock Market LLC. 

“Order” means, with respect to any Person, any order, injunction, judgment, decision, determination, award, writ, ruling,
stipulation, assessment or decree or other similar requirement of, or entered, enacted, adopted, promulgated or applied by, with or under the supervision of, a Governmental Authority or arbitrator. 

“Organizational Documents” means, with respect to any Person that is not a natural person, the articles of incorporation,
certificate of incorporation, charter, bylaws, articles of formation, certificate of formation, operating agreement, partnership agreement, certificate of limited partnership and all other similar documents, instruments or certificates executed,
adopted or filed in connection with the creation, formation or organization of such Person, including any amendments thereto or restatements thereof. 

“Parent Board” means the Board of Directors of Parent. 

“Parent Common Stock” means the issued and outstanding shares of common stock, par value $0.001 per share, of Parent. 

“Parent Material Adverse Effect” means any Effect that, individually or in combination with any other Effect, does or would
reasonably be expected to prevent or materially delay, interfere with, impair or hinder Parent from performing any of its obligations under this Agreement or consummating the Transactions. 

  
 9 

 “Parent’s Knowledge” means, as to a particular matter, the actual knowledge
of any one or more of the individuals listed on Section 1.01(b) of the Seller Disclosure Schedules. 

“Patents” has the meaning set forth in the definition of “Intellectual Property.” 

“Permits” means all permits, licenses, consents, franchises, approvals, privileges, immunities, authorizations, exemptions,
registrations, certificates, variances and similar rights obtained from a Governmental Authority. 
 “Permitted Liens”
means (a) Liens for Taxes or governmental assessments, charges or claims of payment not yet due and delinquent, or the amount or validity of which are being contested in good faith and for which adequate accruals or reserves have been
established in accordance with GAAP, (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other similar Liens arising in the ordinary course of business which are being contested in good faith or for
which adequate accruals or reserves have been established on the Balance Sheets, (c) zoning, entitlements, building codes or other land use or environmental regulations, ordinances or legal requirements imposed by any Governmental Authority,
(d) any state of facts which an accurate survey or inspection of the real property owned or leased by the Company and the Company Subsidiaries would disclose and which has not had and would not reasonably be expected to have, individually or in
the aggregate, a Company Material Adverse Effect, (e) title exceptions disclosed by any title insurance commitment or title insurance policy for any real property owned or leased by the Company and the Company Subsidiaries issued by a title
company Made Available to Buyer, (f) statutory Liens in favor of lessors arising in connection with any property leased to the Company and the Company Subsidiaries pursuant to the Material Lease Agreements, (g) Liens that are reflected on
the Balance Sheets, (h) any non-exclusive licenses to Intellectual Property granted by the Company or any Company Subsidiary in the ordinary course of business and (i) Liens that, individually or in
the aggregate, would not materially detract from the value of any of the property, rights, or assets of the business of the Company or any of the Company Subsidiaries or materially interfere with the use thereof as currently used by the Company or
the Company Subsidiaries. 
 “Person” means any individual, general or limited partnership, corporation, limited liability
company, business trust, joint stock company, trust, unincorporated organization, joint venture, firm, association or other entity or organization (whether or not a legal entity), including any Governmental Authority (or any department, agency or
political subdivision thereof). 
 “Pre-Closing Tax Period” means any taxable
period (or portion thereof) ending on or before the Closing Date. 
 “Proceeding” means any suit (whether civil, criminal,
administrative or judicial), action, litigation, arbitration, investigation, proceeding (including any civil, criminal, administrative or appellate proceeding), criminal prosecution or SEC “Wells” process, in each case commenced, brought,
conducted or heard by or before any court or other Governmental Authority or any arbitrator or arbitration panel. 
 “Proprietary
Software” means all material Software programs owned or purported to be owned by the Company or any of the Company Subsidiaries. 

  
 10 

 “Release” means any actual or threatened release, spilling, leaking, pumping,
pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, abandonment, disposing or allowing to escape or migrate into or through the environment (including ambient air (indoor or outdoor), surface water, groundwater, land
surface or subsurface strata). 
 “Representative Side Letter” means that certain side letter in the form attached hereto
as Exhibit A between Parent and Buyer, to be executed and delivered on the Closing Date, pertaining to, among other things, the disclosure of certain financial information. 

“Representatives” means, with respect to any Person, the directors, authorized officers, financial advisors, attorneys,
accountants, consultants, agents and other authorized representatives and advisors of such Person and solely with respect to Buyer, “Representatives” shall further mean (a) CVC Capital Partners Advisory (U.S.), Inc. and its Affiliates
and (b) CVC Capital Partners SICAV-FIS SA and its Subsidiaries. 
 “Required Financial
Information” means the information required by the Debt Commitment Letter and the other historical financial information available to Parent, Seller or the Company and reasonably necessary for Buyer to prepare pro forma financial statements
and the other data and information that are required to be provided by the Debt Commitment Letter (provided that, in connection with such pro forma financial statements, the Company and its Subsidiaries shall have no obligation to prepare
such pro forma financial statements or to provide (a) any information related to Buyer or any of its pre-Closing Affiliates, (b) the pro forma capitalization of the Company after giving effect to the
Closing, the Financing and the refinancing or repayment of any Indebtedness of the Company in connection therewith, (c) any adjustments, assumptions, estimates, projections or other information in connection with the potential purchase price
accounting treatment of the Transactions or (d) any assumptions with respect to equity or indebtedness outstanding as a result of the Financing, any interest expense, fees, original issue discount, or other economics in connection with the
Financing, or any fees and expenses of any Person (other than the Company and its Subsidiaries) incurred or otherwise payable in connection with the consummation of the Transactions). 

“Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules promulgated thereunder. 

“Seller Board” means the Board of Directors of Seller. 

“Seller Material Adverse Effect” means any Effect that, individually or in combination with any other Effect, does or would
reasonably be expected to prevent or materially delay, interfere with, impair or hinder Seller from performing any of its obligations under this Agreement or consummating the Transactions. 

“Seller’s Knowledge” means, as to a particular matter, the actual knowledge of any one or more of the individuals listed
on Section 1.01(c) of the Seller Disclosure Schedules. 

  
 11 

 “Software” has the meaning set forth in the definition of “Intellectual
Property.” 
 “Stockholder Litigation” means any claim or Proceeding (including any class action or derivative
litigation) relating directly or indirectly to this Agreement or the Transactions, including disclosures made under securities laws and regulations related thereto. 

“Subsidiary” means, with respect to any Person, any other Person with respect to which such first Person (alone or in
combination with any of such first Person’s other Subsidiaries) owns a majority of the outstanding voting securities of such Person on an as-converted basis. 

“Superior Proposal” mean an Acquisition Proposal made by a Third Party involving the acquisition of at least fifty percent
(50%) of the assets of, equity interests in or business (as determined by reference to consolidated revenues) of the Company and the Company Subsidiaries, taken as a whole, that did not result from a breach of Section 7.02,
that the Parent Board determines in good faith, after consultation with Parent’s financial advisor and outside legal counsel, and considering such factors as the Parent Board deems to be appropriate (including the conditionality and the timing
and likelihood of consummation of such proposal), (a) is on terms that are more favorable to Seller, from a financial point of view, than the Transactions (including after giving effect to the Proposed Changed Terms, if such are proposed by Buyer in
accordance with Section 7.02(d)(ii)) and (b) is reasonably capable of being consummated on the terms thereof. 

“Tax” means (i) any federal, state, local or non-U.S. income, franchise,
profits, gross receipts, transfer, excise, property, sales, use, value-added, ad valorem, license, capital stock, capital gains, employment, unemployment, payroll, withholding, social security, severance, occupation, import, custom duties, stamp,
alternative, add-on minimum, environmental, escheat, estimated, or other taxes of any kind whatsoever (including any interest, penalty, or addition thereto) and (ii) any Liability for Taxes of any other
Person under Treasury Regulations Section 1.1502-6 (or analogous state, local or foreign Law), or otherwise. 

“Taxing Authority” means, with respect to any Tax, any Governmental Authority that imposes such Tax, and the agency (if any)
charged with the collection of such Tax for such Governmental Authority. 
 “Tax Return” means any report, return,
document, declaration, information return or statement relating to Taxes (including any amendments thereto and including any schedule or statement thereto). 

“Third Party” means any Person or “group” (as defined under Section 13(d) of the Exchange Act) of Persons,
other than Buyer, the Company or any of their respective Affiliates or Representatives. 
 “Threshold Bolt Proceeds” means
Bolt Proceeds in an amount equal to $34,289,777. 
 “Trade Secrets” has the meaning set forth in the definition of
“Intellectual Property.” 
 “Treasury Regulations” means the regulations promulgated under the Code by the United
States Department of Treasury. 

  
 12 

 “Velocity” means Velocity Holdings and its Subsidiaries. 

“Velocity Balance Sheet” has the meaning set forth in the definition of “Financial Statements.” 

Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	Term	  	Section
	Accounting Firm	  	7.15(b)(vi)
	Action	  	7.09(b)
	Agreed Claim	  	10.02(c)
	Agreement	  	Preamble
	Alternative Acquisition Agreement	  	7.02(c)
	Alternative Financing	  	7.13(b)
	Board Recommendation	  	5.02(b)
	Bankruptcy and Equity Exceptions	  	3.03
	Base Purchase Price	  	2.03(a)
	Benefit Plan	  	3.15(a)
	Bolt Holdings	  	Recitals
	Bolt Payment Amount	  	2.03(b)
	Bolt Payment Statement	  	7.15(b)(i)
	Bolt Policies and Procedures	  	7.14(a)
	Bolt Process	  	7.14(a)
	Buyer	  	Preamble
	Buyer Benefit Plans	  	7.06(a)
	Buyer Expenses	  	11.04(e)
	Buyer Related Parties	  	11.05(c)
	Buyer Termination Fee	  	11.05(a)
	Change in Recommendation	  	7.02(c)
	Closing	  	2.01
	Closing Date	  	2.01
	Commitment Letters	  	6.10(a)
	Company	  	Preamble
	Company Employee Plan	  	3.15(a)
	Company Foreign Plan	  	3.15(a)
	Company Interests	  	Recitals
	Company Securities	  	3.06(b)
	Company Subsidiary Securities	  	3.07(b)
	Computer Systems	  	3.18(e)
	Contingent Worker	  	3.15(i)
	Continuing Employees	  	7.06(a)
	Customer Data	  	3.18(b)
	Debt Commitment Letter	  	6.10(a)
	Debt Documents	  	7.13(b)
	Debt Financing	  	6.10(a)
	D&O Indemnification Agreement	  	7.09(b)

  
 13 

			
	Term	  	Section
	D&O Indemnified Party	  	7.09(b)
	D&O Losses	  	7.09(c)
	End Date	  	9.01(b)
	Equity Commitment Letter	  	Recitals
	Equity Financing	  	6.10(a)
	Fee Letter	  	6.10(a)
	Financing	  	6.10(a)
	Governmental Consents	  	7.10(a)
	Indemnified Party or Indemnified Parties	  	10.01(a)
	Indemnifying Parties	  	10.01(a)
	Lease Agreement	  	3.19(b)
	Liens	  	3.07(b)
	Losses	  	10.01
	Material Contracts	  	3.13(a)
	Material Lease Agreement	  	3.19(b)
	Notice of Agreement	  	7.15(b)(iii)
	Notice of Objection	  	7.15(b)(iii)
	Objections	  	7.15(b)(v)
	Parent	  	Preamble
	Parent Plan	  	3.15(a)
	Parent SEC Documents	  	5.07(a)
	Parent Stockholder Approval	  	5.11
	Pre-Closing Bolt Sale Adjustment	  	2.04(a)
	Pre-Closing Period	  	7.01(a)
	Proposed Changed Terms	  	7.02(d)(ii)
	Proxy Statement	  	7.03(a)(i)
	Purchase Price	  	2.03
	Purchase Price Allocation	  	7.20(a)
	Recipient	  	7.20(e)(i)
	Regulatory Law	  	7.10(d)
	Related Party Transaction	  	3.20
	Released Parties	  	7.17
	Sanctions	  	3.12(d)
	Seller	  	Preamble
	Seller Affiliates	  	7.04(d)
	Seller Disclosure Schedules	  	Article 3
	Seller-Related Parties	  	11.04(h)
	Sponsor Guarantee	  	Recitals
	Sponsors	  	Recitals
	Stockholders Meeting	  	7.03(b)(i)
	Superior Proposal Notice	  	7.02(d)
	Tax Audit	  	7.20(e)(i)
	Termination Fee	  	11.04(b)
	Transactions	  	Recitals
	Velocity Holdings	  	Recitals

  
 14 

 Section 1.02. Other Definitional and Interpretative Provisions. The words
“hereof,” “herein,” “hereto” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein
are included for convenience of reference only and shall be ignored in the construction or interpretation hereof. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless
otherwise specified, and references to clauses without a cross-reference to a Section or subsection are references to clauses within the same Section or, if more specific, subsection. All Exhibits and Schedules annexed hereto or referred to herein
are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein shall have the meaning as defined in this Agreement. Any singular
term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by
the words “, without limitation,” whether or not they are in fact followed by those words or words of like import. “Writing,” “written” and comparable terms refer to printing, typing and other means of reproducing words
(including electronic media) in a visible form. References (i) to “$” and “dollars” are to the currency of the United States, (ii) from or through any date shall mean, unless otherwise specified, from and including or
through and including, respectively, (iii) to “days” shall be calendar days unless otherwise indicated, and (iv) to “ordinary course of business” shall be deemed to be followed by the words “consistent with past
practice.” 
 ARTICLE 2 

THE CLOSING 

Section 2.01. The Closing. Upon the terms and subject to the satisfaction or waiver of the conditions set forth herein, the
closing of the Transactions (the “Closing”) will take place at 9:00 a.m., Eastern time, on the third (3rd) Business Day (the “Closing Date”) following the day on
which the last of the conditions set forth in Article 8 is satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver (to the extent permitted hereunder)
of such conditions), unless this Agreement has been terminated pursuant to its terms or unless another time and/or date is agreed to in writing by the parties hereto. The Closing shall be held at the offices of Dechert LLP, 2929 Arch Street,
Philadelphia, PA 19104, unless another place is agreed to in writing by the parties hereto. 
 Section 2.02. Sale and Purchase of
Company Interests. Upon the terms and subject to the satisfaction or waiver of the conditions set forth in, and in accordance with, this Agreement, at the Closing, Seller shall sell, transfer, convey, assign and deliver to Buyer, and Buyer shall
purchase and acquire from Seller, all of Seller’s right, title and interest in and to the Company Interests, free and clear of all Liens, other than those arising under applicable securities Laws. At the Closing, Parent and Seller shall deliver
to Buyer an instrument of transfer in respect of the sale of the Company Interests to Buyer in accordance with this Agreement, duly executed by Seller. 

  
 15 

 Section 2.03. Purchase Price. Subject to Section 2.04, in
consideration of the purchase and sale of the Company Interests under this Agreement: 
 (a) Buyer shall pay or cause to be paid to Seller
$328,045,062.98 in cash at the Closing (the “Base Purchase Price”); and 
 (b) if a Bolt Sale is completed after the Closing
pursuant to a Bolt Sale Agreement entered into prior to the Bolt Sale Deadline, Seller shall be entitled to receive, and Buyer shall pay or cause to be paid, promptly but in any event within five (5) Business Days (I) following the date
that such consideration is received by Buyer or any of its Affiliates from the purchaser of Bolt, an amount in cash equal to (i) (x) fifty percent (50%) multiplied by (y) the excess, if any, of (A) the Bolt Proceeds actually
received minus (B) the Threshold Bolt Proceeds, minus (ii) the Bolt Proceeds Post-Closing Reduction Amount (any such amount, a “Bolt Payment Amount”), in accordance with the procedures set forth in
Section 7.15, and (II) following the date that such consideration is released to Buyer or any of its Affiliates from any escrow or holdback account, an amount in cash equal to (i) (x) fifty percent (50%)
multiplied by (y) the Deferred Bolt Proceeds actually received minus (ii) the sum of, without duplication of any Bolt Ownership Expenses or Bolt Sale Expenses taken into account in connection with the Bolt Payment Amount,
(A) the Bolt Ownership Expenses plus (B) the Bolt Sale Expenses, in each case incurred or paid by Buyer or any of its Affiliates until all Deferred Bolt Proceeds have been paid in accordance with this
Section 2.03(b). 
 Any amounts to be paid under this Section 2.03 (together, such amounts as actually
paid to Seller, as may be reduced in accordance with Section 2.04, the “Purchase Price”) or Section 2.04 shall be paid by wire transfer of immediately available funds to an account
or accounts designated in writing by Seller (in the case of payment of the Base Purchase Price, at least five (5) Business Days prior to the Closing). 

  
 16 

 Section 2.04. Closing Purchase Price Adjustment. 

(a) If a Bolt Sale is completed prior to the Closing, the Base Purchase Price shall be reduced by an amount in cash equal to the sum of (i)
$35,000,000 plus (ii) (x) fifty percent (50%) multiplied by (y) the excess, if any, of (A) the Bolt Proceeds actually received prior to the Closing minus (B) the Bolt Proceeds
Pre-Closing Reduction Amount minus (C) the Threshold Bolt Proceeds (such amount in clause (ii), the “Pre-Closing Bolt Sale Adjustment”).

 (b) If a Bolt Sale is completed prior to the Closing in a transaction that includes any Deferred Bolt Proceeds, Seller shall be entitled
to receive, and Buyer shall pay or cause to be paid, promptly but in any event within five (5) Business Days following the date that such deferred cash consideration (I) is received by Buyer or any of its Affiliates from the purchaser of
Bolt or (II) is released to Buyer or any of its Affiliates from any escrow or holdback account, an amount in cash equal to (i) (x) fifty percent (50%) multiplied by (y) the Deferred Bolt Proceeds actually received minus
(ii) the sum of (A) the Bolt Ownership Expenses incurred or paid by Buyer or any of its Affiliates plus (B) without duplication of any Bolt Sale Expenses taken into account in connection with the
Pre-Closing Bolt Sale Adjustment, the Bolt Sale Expenses incurred or paid by Buyer or any of its Affiliates from and after the Closing until all Deferred Bolt Proceeds have been paid in accordance with this
Section 2.04(b). 
 Section 2.05. Withholding Rights. Buyer and the Company shall be entitled to
deduct and withhold from the consideration otherwise payable to any Person pursuant to this Agreement such amounts as it is required to deduct and withhold from such payment under any provision of any applicable Tax law. To the extent that amounts
are so deducted and withheld by Buyer or the Company, as the case may be, and paid to the appropriate Taxing Authority, such amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which Buyer or
the Company, as the case may be, made such deduction and withholding. 
 Section 2.06. Further Assurances. If, at any time after
the Closing, Buyer shall determine that any actions are necessary or desirable to vest, perfect or confirm of record or otherwise in Buyer its right, title or interest in, to or under any of the rights, properties or assets of the Company or any
Company Subsidiaries acquired as a result of, or in connection with, the Transactions or otherwise to carry out this Agreement, then the officers and directors of Buyer, the Company and the Company Subsidiaries shall be authorized to take all such
actions as may be necessary or desirable to vest all right, title or interest in, to and under such rights, properties or assets in Buyer or otherwise to carry out this Agreement. 

Section 2.07. FIRPTA Certificate. On or prior to the Closing Date, Seller shall deliver or cause to be delivered to Buyer a duly
executed certificate (in a form and manner reasonably satisfactory to Buyer) of Seller’s non-foreign status in accordance with Treasury Regulations
Section 1.1445-2(b)(2). 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY 

Except (a) as disclosed in the Parent SEC Documents filed with the SEC prior to the date of this Agreement; provided that in no
event shall any risk factor disclosure under the heading “Risk Factors” or disclosure set forth in any “forward looking statements” disclaimer or other general statements to the extent they are cautionary, predictive or forward
looking in nature that 

  
 17 

 
are included in any part of any Parent SEC Document be deemed to be an exception to, or, as applicable, disclosure for purposes of, any representations and warranties of the Company contained in
this Agreement; or (b) as set forth in the Seller Disclosure Schedules (each section of which qualifies the correspondingly numbered and lettered representation and warranty in this Article 3 to the extent specified therein and the
representations and warranties in such other sections of this Agreement as to which the relevance of the disclosure is reasonably apparent on the face of such disclosure) delivered by Seller to Buyer prior to the execution of this Agreement (the
“Seller Disclosure Schedules”), Seller hereby represents and warrants to Buyer as follows: 
 Section 3.01.
Corporate Existence and Power. The Company is a limited liability company duly formed, validly existing and in good standing under the applicable Law of the State of Delaware. The Company has full power and authority to own, lease and operate
its properties and assets and to carry on the Business and is duly qualified to do business as a foreign entity and is in good standing (to the extent a concept of “good standing” is applicable) in each jurisdiction where such
qualification is necessary, except where any failure to have such power or authority or to be so qualified has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

Section 3.02. Organizational Documents. Seller has Made Available correct and complete copies of the Organizational Documents of
the Company as in effect on the date of this Agreement. 
 Section 3.03. Corporate Authorization. The Company has full power and
authority to enter into this Agreement and perform its obligations under this Agreement. The execution, delivery and performance by the Company of this Agreement has been duly authorized by all necessary action on the part of the Company. The
Company has duly executed and delivered this Agreement, and, assuming due authorization, execution and delivery by Buyer, this Agreement constitutes a valid and binding agreement of the Company enforceable against the Company in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium and other similar applicable Law affecting creditors’ rights generally and by general principles of equity (whether considered in a proceeding in equity
or at law) (the “Bankruptcy and Equity Exceptions”). 
 Section 3.04. Governmental Authorization. The
execution, delivery and performance by the Company of its obligations under this Agreement and the consummation of the Transactions require no action by or in respect of, or filing with, any Governmental Authority, other than (a) compliance
with any applicable requirements of the HSR Act and any applicable foreign merger control Law, (b) the filing with the SEC by Parent of (A) the Proxy Statement and (B) any other filings and reports that may be required in connection
with this Agreement and the Transactions under the Exchange Act, (c) compliance by Parent with any applicable requirements of the Securities Act, the Exchange Act, any other applicable U.S. state or federal or foreign securities laws or stock
exchange rules, including the rules of NASDAQ, and (d) any actions or filings the absence of which has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

  
 18 

 Section 3.05. Non-Contravention. The
execution, delivery and performance by the Company of its obligations under this Agreement and the consummation of the Transactions do not and will not (with or without notice or lapse of time or both) (a) contravene, conflict with or result in
any violation or breach of any provision of the Organizational Documents of the Company, (b) assuming the actions and filings with respect to the matters referred to in Section 3.04(a) – (c) are made or taken,
contravene, conflict with or result in a violation or breach of any provision of any applicable Law or Order, (c) require any consent or approval under, violate, conflict with, result in any breach of or any loss of any benefit under, or
constitute a change of control or default under, or result in termination or cancellation or give to others any right of termination, vesting, amendment, acceleration or cancellation (in each case, with or without notice or lapse of time or both) of
any Contract to which the Company or any Company Subsidiary is a party, or by which they or any of their respective properties or assets may be bound or affected or any Permits affecting, or relating in any way to, the property, assets or business
of the Company or any of the Company Subsidiaries or (d) result in the creation or imposition of any Lien, other than any Permitted Lien, on any rights, property or asset of the Company or any of the Company Subsidiaries, with such exceptions,
in the case of each of clauses (b), (c) and (d), as have not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

Section 3.06. Capitalization. 

(a) The Company Interests have been duly authorized and were validly issued to Seller and are fully paid, nonassessable, free of preemptive
rights and free and clear of all Liens, other than those arising under applicable securities Laws. 
 (b) The Company Interests are owned
beneficially and of record by Seller. Except for the Company Interests, there are no issued, reserved for issuance or outstanding (i) membership interests or other voting securities of or other ownership interests in the Company,
(ii) securities of the Company or any Company Subsidiary convertible into or exchangeable for membership interests or other voting securities of or other ownership interests in the Company, (iii) warrants, calls, options or other rights to
acquire from the Company, or other obligation of the Company to issue, any membership interests, equity-like interests, voting securities or securities convertible into or exchangeable for membership interests or other voting securities of or other
ownership interests in the Company or (iv) restricted shares, stock appreciation rights, restricted stock units, performance units, contingent value rights, “phantom” stock or similar securities or rights issued or granted by the
Company or any Company Subsidiary that are derivative of, or provide economic benefits based, directly or indirectly, on the value or price of, any membership interests or other voting securities of or other ownership interests in the Company (the
items in clauses (i) through (iv) being referred to collectively as the “Company Securities”). 
 (c) There are no
outstanding obligations of the Company or any of the Company Subsidiaries to repurchase, redeem or otherwise acquire any of the Company Securities. None of Parent, Seller, the Company or any of the Company Subsidiaries is a party to any voting
trust, proxy, voting agreement or other similar agreement with respect to the voting of any Company Securities. There are no outstanding bonds, debentures, notes or other Indebtedness of the Company having the right to vote (whether on an as-converted basis or otherwise) (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which equityholders of the Company may vote. 

  
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 Section 3.07. Subsidiaries. 

(a) Each Company Subsidiary is an entity duly incorporated or otherwise duly organized, validly existing and (where applicable or recognized)
in good standing under the laws of its jurisdiction of incorporation or organization, except, in the case of any Company Subsidiary, where the failure to be so incorporated, organized, existing or in good standing has not had, and would not
reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Each Company Subsidiary has all corporate, limited liability company or comparable powers and all Permits to own, lease and operate its properties
and assets and to carry on its business as now conducted, except for those powers or Permits the absence of which has not had, and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Each
Company Subsidiary is duly qualified to do business as a foreign entity and is in good standing in each jurisdiction where such qualification is necessary, except for those jurisdictions where failure to be so qualified or in good standing has not
had, and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 
 (b)
Section 3.07(b) of the Seller Disclosure Schedules sets forth (i) a complete and accurate list of the Company Subsidiaries, including name and jurisdiction of organization or formation, and (ii) the outstanding
capital stock or other voting securities of or other ownership interests in each Company Subsidiary, including each record holder thereof and the number of shares or other voting securities held of record by each such holder. Such capital stock and
other voting securities or ownership interests are owned free and clear of any lien, pledge, charge, security interest, encumbrance or security interests of any kind (collectively, “Liens”), in each case other than Permitted Liens.
There are no issued, reserved for issuance or outstanding (x) securities of the Company or any of the Company Subsidiaries convertible into, or exchangeable for, shares of capital stock or other voting securities of or other ownership interests
in any Company Subsidiary, (y) warrants, calls, options or other rights to acquire from the Company or any of the Company Subsidiaries, or other obligations of the Company or any of the Company Subsidiaries to issue, any shares of capital stock
or other voting securities of or other ownership interests in or any securities convertible into, or exchangeable for, any shares of capital stock or other voting securities of or other ownership interests in any Company Subsidiary or
(z) restricted shares, stock appreciation rights, restricted stock units, performance units, contingent value rights, “phantom” stock or similar securities or rights issued or granted by the Company or any of the Company Subsidiaries
that are derivative of, or provide economic benefits based, directly or indirectly, on the value or price of, any capital stock or other voting securities of or other ownership interests in any Company Subsidiary (the items in clauses
(x) through (z) being referred to collectively as the “Company Subsidiary Securities”). There are no outstanding obligations of the Company or any of the Company Subsidiaries to repurchase, redeem or otherwise acquire any of
the Company Subsidiary Securities. Except as set forth on Section 3.07(b) of the Seller Disclosure Schedules, each Company Subsidiary is directly or indirectly wholly owned by the Company. 

  
 20 

 Section 3.08. Financial Statements. 

(a) The Financial Statements are set forth on Section 3.08 of the Seller Disclosure Schedules. The Financial
Statements fairly presented in all material respects the consolidated financial position of each of Velocity and Bolt as of the dates thereof and the consolidated results of operations and comprehensive income (loss) and cash flows of each of
Velocity and Bolt as of the dates or for the periods presented therein, all in accordance with GAAP and applied on a consistent basis through the periods covered (subject to the absence of notes and, in the case of the interim Financial Statements,
to normal year-end adjustments, which will not be material, either individually or in the aggregate). Such Financial Statements have been prepared from, and are in accordance with, the books and records of the
Company and the Company Subsidiaries. 
 (b) The financial books and records of Velocity and Bolt have been maintained in accordance with
customary business practices and fairly and accurately reflect, in all material respects, on a basis consistent with past periods and throughout the periods involved, the consolidated financial position of each of Velocity and Bolt. Each of Velocity
and Bolt has devised and maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization,
(ii) transactions are recorded as necessary to permit the preparation of financial statements in accordance with GAAP, (iii) access to their respective property and assets is permitted only in accordance with management’s general or
specific authorization and (iv) the recorded accountability for items is compared with the actual levels at reasonable intervals and appropriate action is taken with respect to any differences. 

Section 3.09. Absence of Certain Changes. Except as set forth on Section 3.09 of the Seller Disclosure
Schedules, since the Balance Sheet Date and through the date of this Agreement, (a) the Company and the Company Subsidiaries have conducted their business in the ordinary course consistent with past practice in all material respects,
(b) there has not been any Effect that has had or would reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect and (c) neither the Company nor any of the Company Subsidiaries has taken any
action that, if taken after the date of this Agreement, would require Buyer’s consent pursuant to Section 7.01(b)(i), Section 7.01(b)(iii), Section 7.01(b)(iv),
Section 7.01(b)(v), Section 7.01(b)(ix), Section 7.01(b)(x), Section 7.01(b)(xiii), Section 7.01(b)(xvi) and
Section 7.01(b)(xvii). 
 Section 3.10. No Undisclosed Liabilities. Except as set forth on
Section 3.10 of the Seller Disclosure Schedules, there are no Liabilities of the Company or any of the Company Subsidiaries of the type required to be disclosed on the consolidated balance sheet of Velocity or Bolt in
accordance with GAAP, other than Liabilities (a) disclosed, reflected, reserved against or otherwise provided for in the Velocity Balance Sheet and the Bolt Balance Sheet as of the date of such balance sheet (including the notes thereto), (b)
incurred under this Agreement or in connection with the Transactions, (c) incurred in the ordinary course of business since the Balance Sheet Date, (d) under executory Contracts by which the Company or any of the Company Subsidiaries are
bound, other than as a result of a breach thereof, or (e) that have not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

Section 3.11. Litigation. Except as set forth on Section 3.11 of the Seller Disclosure Schedules, there
is no Proceeding pending against or, to Seller’s Knowledge, threatened against or affecting the Company or any of the Company Subsidiaries or any of their respective properties or assets and neither the Company nor any of the Company
Subsidiaries is subject to any outstanding Order, which in either case, has had or would reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

  
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 Section 3.12. Compliance with Applicable Law. 

(a) Except as set forth on Section 3.12 of the Seller Disclosure Schedules, the Company and each of the Company
Subsidiaries is and, since January 1, 2015, has been in compliance with all applicable Law and Orders, except for such violations or noncompliance that has not had and would not reasonably be expected to have, individually or in the aggregate,
a Company Material Adverse Effect, and to Seller’s Knowledge, none of the Company or any of the Company Subsidiaries is under investigation by any Governmental Authority with respect to any violation of any applicable Law or Order. 

(b) Except as set forth on Section 3.12 of the Seller Disclosure Schedules, or as has not had and would not
reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect, each of the Company and the Company Subsidiaries has in effect all approvals, Permits and licenses of Governmental Authorities necessary for it to
own, lease or otherwise hold and operate its properties and assets and to carry on the Business. 
 (c) Neither the Company nor the Company
Subsidiaries nor any officers, directors or employees of the Company or the Company Subsidiaries nor, to Seller’s Knowledge, any Representatives acting on behalf of the Company or the Company Subsidiaries have, directly or indirectly, violated
any applicable Anti-Corruption Laws, in the past five (5) years. 
 (d) The Company and the Company Subsidiaries, and their directors,
officers, and employees, and to Seller’s Knowledge, any agents acting on their behalf, are and have been in compliance with U.S. and any applicable foreign economic sanctions Laws, including economic sanctions administered by the U.S.
Department of the Treasury’s Office of Foreign Assets Control (collectively, “Sanctions”) and U.S. and applicable foreign Laws pertaining to export and import controls, including those administered by the U.S. Departments of
Commerce and State. 
 (d) None of the Company or the Company Subsidiaries, or their directors, officers, or employees, nor to Seller’s
Knowledge, any agents acting on their behalf, are or have been (i) identified on any Sanctions-related list of restricted or blocked persons, (ii) organized, resident, or located in any country or territory that is itself the subject of
Sanctions, or (iii) owned or controlled by any Person or Persons described in clause (i) or (ii). 
 (e) Except as has not had and
would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect, the Company and each Company Subsidiary have complied with (A) all terms and conditions of each Government Contract and (B) all
applicable Laws and Orders pertaining to all Government Contracts and all quotations, bids and proposals for awards of new Government Contracts made by the Company or any Company Subsidiary for which no award has been made and for which the Company
or any Company Subsidiary believes there is a reasonable prospect that such an award to the Company or any Company Subsidiary may yet be made. With respect to the Government Contracts, except as has not had and would not reasonably be expected to
have, individually or in the 

  
 22 

 
aggregate, a Company Material Adverse Effect, there has been no (i) termination for default or convenience, cure notice, or show cause notice issued by any Governmental Authority or any
prime contractor or subcontractor with respect to performance of any portion of the obligation of a Government Contract; (ii) criminal allegation against the Company or any Company Subsidiary under the False Statements Act (18 U.S.C. §
1001) or the False Claims Act (18 U.S.C. § 287) or comparable state or local Law; (iii) civil fraud or criminal investigation or allegation against the Company or any Company Subsidiary by a Governmental Authority, or issuance of any
subpoena to the Company or any Company Subsidiary related to such investigations or allegations; (iv) suspension or debarment proceeding (or equivalent proceeding) against the Company, any Company Subsidiary or any of their respective directors
or officers, and no such party has been debarred or suspended from participation in the award of contracts with any Governmental Authority; (v) request by a Governmental Authority for a contract price adjustment based on a claimed disallowance
by an applicable Governmental Authority or claim of defective pricing; or (vi) dispute between the Company or any Company Subsidiary and a Governmental Authority or prime contractor in the past six (6) years under the Contract Disputes Act
or any other applicable Law. Except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect, neither the Company nor any Company Subsidiary nor any of their respective
personnel (x) has made any disclosure to any Governmental Authority pursuant to any voluntary disclosure agreement or the Federal Acquisition Regulation (FAR) mandatory disclosure provisions (FAR
9.406-2(b)(1)(vi), 9.407-2(a)(8) & 52.203-13), (y) has evidence of a violation of federal criminal law involving the
fraud, conflict of interest, bribery, or gratuity provisions found in Title 18 of the U.S. Code, a violation of the civil False Claims Act, or a significant overpayment, in connection with the award, performance or closeout of any Government
Contract or (z) has conducted or initiated any internal investigation with respect to any alleged irregularity, misstatement or omission arising under or relating to a Government Contract. 

Section 3.13. Material Contracts. 

(a) Section 3.13 of the Seller Disclosure Schedules sets forth a true, correct and complete list, as of the date of
this Agreement, of the following Contracts (but excluding all Lease Agreements and Company Employee Plans) by which any of the Company or any of the Company Subsidiaries is bound and under which the Company or any of the Company Subsidiaries has
ongoing executory obligations or the ability to enforce rights thereunder (collectively, the “Material Contracts”): 
 (i)
each Contract relating to the Company or any Company Subsidiary required to be filed by Parent as a “Material Contract” pursuant to Item 601(b)(10) of Regulation S-K under the Securities Act (other
than a Company Employee Plan); 
 (ii) each Contract (x) to which the Company or any of the Company Subsidiaries is a party that
restricts in any respect the ability of the Company or any of the Company Subsidiaries or any of their respective Affiliates to compete in any business or with any Person in any geographical area or (y) that contains “most-favored
nation” or exclusivity obligations or restrictions binding on the Company or any of the Company Subsidiaries; 

  
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 (iii) each credit agreement, note, debenture, bond, indenture and other similar Contract pursuant
to which any Indebtedness of the Company or any of the Company Subsidiaries, in each case in excess of $500,000 is outstanding or may be incurred, other than any such Contract between or among any of Velocity Holdings and its Subsidiaries or between
or among any of Bolt Holdings and its Subsidiaries; 
 (iv) each Contract to which the Company or any of the Company Subsidiaries is a party
that by its terms calls for aggregate payments by the Company or any of the Company Subsidiaries of more than $500,000 over the remaining term of such Contract, except for (A) Lease Agreements, (B) any such Contract that may be terminated,
without any penalty or other liability to the Company or any of the Company Subsidiaries in excess of $500,000, within one year, (C) Company Employee Plans, or (D) any Contract providing for acquisitions and dispositions of properties and
assets of the Company or any of the Company Subsidiaries in the ordinary course of business; 
 (v) each Contract that provides for any
stockholders, investors rights, registration rights or similar agreements or arrangements; 
 (vi) each Contract pursuant to which the
Company or any of the Company Subsidiaries has continuing “earn-out” or similar obligations that could result in payments in excess of $500,000 in the aggregate; 

(vii) each Contract requiring any capital commitment or capital expenditure (or series of capital expenditures) by the Company and the Company
Subsidiaries in an amount in excess of $500,000; 
 (viii) each Contract entered into within three (3) years of the date of this
Agreement, to which the Company or any of the Company Subsidiaries is a party for the acquisition or disposition by the Company or any of the Company Subsidiaries of properties or assets for, in each case, aggregate consideration of more than
$1,000,000; and 
 (ix) each Contract to which the Company or any of the Company Subsidiaries is a party constituting a joint venture,
partnership, limited liability or other similar agreement (excluding licensing Contracts) relating to the formation, creation, operation, management or control of any partnership or material joint venture. 

(b) Parent and Seller have Made Available to Buyer true, correct and complete copies of each Material Contract. Each Material Contract is in
full force and effect and a valid and binding agreement enforceable against the Company or any of the Company Subsidiaries party thereto and, to Seller’s Knowledge, each other party thereto, in accordance with its terms, except as such
enforceability may be limited by the Bankruptcy and Equity Exceptions, and except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. None of the Company nor any of the
Company Subsidiaries party to, nor, to Seller’s Knowledge, any other party to, any Material Contract is in breach of or default under, any Material Contract, except as has not had and would not reasonably be expected to have, individually or in
the aggregate, a Company Material Adverse Effect. Neither the Company nor any Company Subsidiary has received written notice of termination or cancellation of any Material Contract, and to Seller’s Knowledge, no party to any Material Contract
has provided notice exercising or threatening exercise of any termination rights with respect thereto or of any material dispute with respect to any Material Contract. 

  
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 Section 3.14. Taxes. 

(a) The Company and each of the Company Subsidiaries have filed all income Tax Returns and other material Tax Returns required by applicable
Law to be filed by the Company or any of the Company Subsidiaries with any Taxing Authority, and all such Tax Returns were filed when due (taking into account any available extensions) and are true, complete and correct in all material respects.

 (b) The Company and each of the Company Subsidiaries have paid (or have had paid on their behalf) all material Taxes due and owing
(whether or not shown as due on any Tax Returns), except with respect to matters contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP. 

(c) (i) No material deficiencies for income Taxes or other material Taxes with respect to the Company or any of the Company Subsidiaries
have been claimed, proposed or assessed in writing by any Taxing Authority, except for deficiencies that have been paid or otherwise resolved, (ii) no requests for waivers of the time to assess any such Taxes have been made that are still
pending, (iii) no income Tax Return or other material Tax Return of the Company or any of the Company Subsidiaries is under audit, contest, examination, or Proceeding by any Taxing Authority, and (iv) no material written claim has been
made by a Taxing Authority in a jurisdiction where the Company or any Company Subsidiary does not file Tax Returns that the Company or the Company Subsidiary is or may be subject to taxation by that jurisdiction. 

(d) All material amounts of Taxes required to be withheld by the Company or any of the Company Subsidiaries have been withheld and have been
duly and timely paid to the proper Taxing Authority (or properly set aside for such payment), and each of the Company and the Company Subsidiaries has complied with all applicable information reporting, backup withholding, and recordkeeping
requirements. 
 (e) Neither the Company nor any of the Company Subsidiaries is liable for the Taxes of any other Person (i) as a result
of any Tax sharing, allocation, or indemnification provision or other contractual obligation; (ii) under Treasury Regulations Section 1.1502-6 (or any corresponding or similar provision of state,
local or foreign Law) other than to a member of a group of which the Company or the Company Subsidiaries are currently a member or of which Velocity Holdings was the common parent; or (iii) as a transferee or successor, by assumption or
operation of Law, by Contract or otherwise. 
 (f) Neither the Company nor any of the Company Subsidiaries will be required to make any
adjustment to taxable income in any period (or portion thereof) ending after the Closing Date by reason of (i) a change in method of accounting for any period (or portion thereof) ending on or before the Closing Date, (ii) use of an
improper method of accounting for any period (or portion thereof) ending on or before the Closing Date, (iii) a closing agreement as described in Code Section 7121 (or any corresponding or similar provision of state, local or foreign Law)
executed on or prior to the Closing Date, (iv) an installment sale or open transaction disposition made on or prior to the Closing Date, or (v) an election made pursuant to Code Section 108(i) (or any corresponding or similar
provision of state, local or foreign Law). 

  
 25 

 (g) There are no Liens, other than Permitted Liens, with respect to Taxes on any of the assets of
the Company or the Company Subsidiaries. 
 (h) Neither the Company nor any of the Company Subsidiaries (i) has participated in any
“listed transaction” within the meaning of Treasury Regulations Section 1.6011-4 (or any corresponding or similar provision of state, local or foreign Law), (ii) is, or has been at any time
during the applicable period specified in Section 897(c)(1)(A)(ii) of the Code, a “United States real property holding corporation” within the meaning of Section 897(c)(2) of the Code, (iii) has, in the past five years, been
a “distributing corporation” or a “controlled corporation” in a transaction that was intended to be governed in whole or in part by Code Section 355, or (iv) has received or requested any ruling, closing agreement
pursuant to Code Section 7121 (or any corresponding or similar provision of state, local or foreign Law), or transfer pricing agreement with any Taxing Authority. 

(i) The Company is treated as an entity disregarded as separate from Seller for U.S. federal income tax purposes. 

Section 3.15. Employee Benefit Plans. 

(a) Section 3.15(a) of the Seller Disclosure Schedules sets forth a complete list of each material Benefit Plan,
separately setting forth each Company Employee Plan and each Parent Plan. For purposes of this Agreement, “Benefit Plan” means (i) each “employee benefit plan,” as defined in Section 3(3) of ERISA (whether or not
subject to ERISA), and (ii) each other retirement, pension, deferred compensation, equity or equity-based, change of control, retention, severance, employment, individual consulting, bonus, incentive, profit-sharing, vacation, health or medical
benefit, disability, or other fringe or welfare benefit plan, agreement or arrangement which is sponsored, maintained or contributed to, or required to be contributed to, by Parent or any of its Affiliates (including the Company or any Company
Subsidiary) for the benefit of any current or former employee, officer, director or individual consultant of the Company or any Company Subsidiary (but excluding any plan, program or arrangement maintained by a Governmental Authority). For purposes
of this Agreement, “Company Employee Plan” means each Benefit Plan that is sponsored or maintained by the Company or any Company Subsidiary and “Parent Plan” means each Benefit Plan that is not a Company Employee
Plan. All Company Employee Plans maintained primarily for employees who are situated outside the United States (the “Company Foreign Plans”) and that are material have been separately identified by jurisdiction on
Section 3.15(a) of the Seller Disclosure Schedules. 
 (b) With respect to each material Company Employee Plan,
Parent and Seller have Made Available to Buyer complete and accurate copies (or, for Company Foreign Plans, documents that are substantially comparable), to the extent applicable, of: (i) the plan document and all amendments thereto,
(ii) the current summary plan description and each summary of material modifications thereto; (iii) the most recent determination letter; (iv) any related trust agreements, insurance contracts, insurance policies or other documents of
any funding 

  
 26 

 
arrangements; (v) the most recently filed annual report on Form 5500 (including all schedules thereto); (vi) all non-routine filings made with any
Governmental Authority within the past two (2) years and (vii) the most recent audited financial statements and actuarial reports prepared with respect thereto. With respect to each Parent Plan, Parent and Seller have Made Available to
Buyer the plan document and all amendments thereto, as well as the current summary plan description and each summary of material modifications thereto. 

(c) Neither the Company nor any ERISA Affiliate of the Company maintains or contributes to, or is obligated to contribute to, or has within the
past six (6) years maintained or contributed to, or been obligated to contribute to (i) any “employee benefit pension plan” (within the meaning of Section 3(2) of ERISA) that is subject to Title IV of ERISA or (ii) any
“multiemployer plan” (within the meaning of Section 4001(a)(3) or 3(37) of ERISA). 
 (d) Each Company Employee Plan which is
intended to be qualified under Section 401(a) of the Code has received or is permitted to rely upon a favorable IRS determination, opinion or advisory letter, or has pending or has time remaining in which to file an application for such
determination from the IRS, and (ii) with respect to any such Company Employee Plan, to Seller’s Knowledge, no event has occurred since the date of such determination, opinion or advisory letter that would reasonably be expected to result
in such Company Employee Plan ceasing to be so qualified. 
 (e) Each Company Employee Plan has been maintained, operated and administered in
compliance with its terms and with the requirements prescribed by applicable Law, including ERISA and the Code, except where any failure in respect of such compliance has not had and would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect. 
 (f) There is no action, suit, investigation, audit or proceeding pending or, to
Seller’s Knowledge, threatened with respect to the administration or operation of or otherwise relating to any Company Employee Plan, in any case, except as has not had and would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect. 
 (g) There are no pending, threatened or, to Seller’s Knowledge, anticipated claims
(other than claims for benefits in accordance with the terms of the Company Employee Plans) by, on behalf of or against any of the Company Employee Plans or any trusts, assets or fiduciaries (in that Person’s capacity as a fiduciary of such
Company Employee Plan) related thereto that could reasonably be expected to result in any Liability of the Company or any of its Subsidiaries except as has not had and would not reasonably be expected to have, individually or in the aggregate, a
Company Material Adverse Effect. 
 (h) All contributions or other amounts payable by the Company or any Company Subsidiary as of the date
hereof with respect to each Company Employee Plan in respect of current or prior plan years have been paid or accrued in accordance with GAAP (other than with respect to amounts not yet due). 

  
 27 

 (i) Except as has not had and would not have, individually or in the aggregate, a Company
Material Adverse Effect, none of the Company or any Company Subsidiary has any liability with respect to any misclassification of any person as an independent contractor, temporary employee, leased employee or any other servant or agent compensated
other than through reportable wages (as an employee) paid by the Company or any Company Subsidiaries (each, a “Contingent Worker”) and no Contingent Worker has been improperly excluded from any Company Employee Plan. 

(j) Except as has not had and would not have, individually or in the aggregate, a Company Material Adverse Effect, all Company Foreign Plans
(i) have been maintained in accordance with all applicable requirements, (ii) that are intended to qualify for special Tax treatment meet all material requirements for such treatment, and (iii) that are required to be funded and/or
book-reserved are funded and/or book-reserved, as appropriate, based upon reasonable actuarial assumptions and in accordance with applicable Law. 

(k) Neither the execution of this Agreement nor the consummation of the Transactions will result in, either alone or in combination with
another event, (i) any payment becoming due to any current or former employee, officer or consultant of the Company or any Company Subsidiary, (ii) an increase in the hourly wage, base salary, target bonus opportunity or amount of benefits
of any employee, individual consultant or officer of the Company or any Company Subsidiary or (iii) the acceleration of the time of payment or vesting of any compensation or benefits under any Company Employee Plan. 

Section 3.16. Labor and Employment Matters. 

(a) Except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect:
(i) the Company and each Company Subsidiary are in compliance with all applicable Law respecting employment and employment practices, including terms and conditions of employment, occupational safety and health and workers’ compensation;
and (ii) there are no pending charges, complaints, or investigations against the Company or any Company Subsidiary by any Governmental Authority pertaining to the employment practices of the Company. 

(b) Neither the Company nor any Company Subsidiary is a party to any collective bargaining agreement with a labor union or labor
organization. There is no pending or, to Seller’s Knowledge, threatened, labor strike, lockout, slowdown, work stoppage, union organizing effort or unfair labor practice charge, labor dispute (other than routine individual grievances) or
labor arbitration proceeding against the Company or any Company Subsidiary relating to any employees of the Company or any Company Subsidiary. 
  

  
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 Section 3.17. Environmental Matters. 

(a) Except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect,
there is no Proceeding arising under any Environmental Law pending or, to Seller’s Knowledge, threatened against the Company, any Company Subsidiary or, to Seller’s Knowledge, any Person whose liability for such claims arising under any
Environmental Law the Company or any Company Subsidiary has retained or assumed, either contractually or by operation of law, and neither the Company nor any Company Subsidiary is subject to any outstanding Order arising under any Environmental Law.

 (b) Except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse
Effect, the Company and the Company Subsidiaries are and, since January 1, 2015, have been in compliance with all Environmental Laws (including obtaining and complying with, and making all appropriate filings for issuance and renewal of,
Permits required for their operations under any Environmental Laws). 
 (c) Except as has not had and would not reasonably be expected to
have, individually or in the aggregate, a Company Material Adverse Effect, there have been no Releases or threatened Releases of, or exposure to, Hazardous Substances in violation of or as would reasonably be expected to give rise to liability
pursuant to Environmental Laws of the Company or Company Subsidiaries (i) at, on, under or migrating from any Facility or, to Seller’s Knowledge, any real property formerly owned, leased or operated by the Company, any Company Subsidiary,
or any of their predecessors, or (ii) arising from or relating to the operations of or any products manufactured, marketed, sold or distributed, by the Company, any Company Subsidiary or, to Seller’s Knowledge, any of their predecessors.

 (d) Parent and Seller have Made Available to Buyer all environmental site assessments and audits and any other material environmental
documents or correspondence in the possession or control of the Company or any Company Subsidiary pertaining to compliance with or liability under Environmental Law and relating to the Facilities, any real properties formerly owned, leased or
operated by the Company, any Company Subsidiary or any of their predecessors, or the business of Company, any Company Subsidiary or any of their predecessors. 

Section 3.18. Intellectual Property. 

(a) Section 3.18(a) of the Seller Disclosure Schedules contains a list, as of the date of this Agreement, of
registrations or applications for registration of the following categories of Company IP Rights: (i) Patents, (ii) Marks, (iii) Copyrights, (iv) Internet domain names and (v) Proprietary Software. The Company or one of the Company
Subsidiaries is the exclusive owner of each item listed on Section 3.18(a) of the Seller Disclosure Schedules. Following the Closing and consummation of the Bolt Sale, the Company and the Company Subsidiaries (excluding,
for clarity, Bolt) will own or have a valid and enforceable right and license, in all material respects, to use all Intellectual Property used or held for use in the operation of the business of the Company and Velocity (provided, that the
foregoing representation and warranty is not and shall not be deemed to be a representation or warranty regarding infringement of any unknown Third Party Intellectual Property, which is addressed exclusively in
Section 3.18(b) hereof). Following the Closing, Bolt will own or have a valid and enforceable right and license, in all material respects, to use all Intellectual Property used or held for use in the operation of the
business of Bolt (provided, that the forgoing representation and warranty is not and shall not be deemed to 

  
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be a representation or warranty regarding infringement of any unknown Third Party Intellectual Property, which is addressed exclusively in Section 3.18(b) hereof). The
Company and the Company Subsidiaries have taken commercially reasonable steps to protect, maintain and safeguard their rights in all Company IP Rights, including by making filings and payments of maintenance or similar fees for each item listed on
Section 3.18(a) of the Seller Disclosure Schedules, and have taken commercially reasonable security measures to protect the confidentiality of Trade Secrets included within the Company IP Rights, except in each case as has
not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 
 (b) There are
no Proceedings pending or, to Seller’s Knowledge threatened in writing, against the Company or the Company Subsidiaries that allege the infringement, violation or misappropriation by the Company or any Company Subsidiary of any Third Party
Intellectual Property, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. To Seller’s Knowledge, there is no infringement, misappropriation or
violation by any Third Party of any of the material Company IP Rights, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Any collection,
acquisition, use, storage or transfer by the Company or any of the Company Subsidiaries of any personally-identifiable information of customers of the Company or the Company Subsidiaries (collectively, “Customer Data”) are, and have
been, in compliance with all applicable Law, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. There have been no material unauthorized disclosures
of any Customer Data, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

(c) Notwithstanding anything in this Agreement to the contrary, this Section 3.18 is the only section of this
Agreement where any representations or warranties are made by the Company relating to Intellectual Property matters. 
 (d) The Company and
the Company Subsidiaries maintain (i) machine readable copies of the Proprietary Software, and (ii) reasonably complete technical documentation or user manuals for material releases or versions thereof currently in use by the Company and
the Company Subsidiaries, currently made available to the customers of the Company or any of the Company Subsidiaries, or currently supported by the Company and the Company Subsidiaries, except in each case, as has not had and would not reasonably
be expected to have, individually or in the aggregate, a Company Material Adverse Effect. The Company and the Company Subsidiaries maintain at least one copy of the source code, and such code is maintained under strict confidentiality and in
accordance with industry-standard safekeeping for proprietary source code except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

(e) The computer software, computer hardware, firmware, networks, interfaces and related systems (collectively, “Computer
Systems”) used by the Company and the Company Subsidiaries are sufficient in all material respects for the Company’s and the Company Subsidiaries’ current needs in the operation of the business of the Company and the Company
Subsidiaries as presently conducted, and, in the past twelve (12) months, there have been no 

  
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material failures, crashes, security breaches or other adverse events affecting the Computer Systems which has caused material disruption to the business of the Company or the Company
Subsidiaries, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. The Company and the Company Subsidiaries have taken commercially reasonable actions
to provide for the back-up and recovery of material data and have implemented disaster recovery plans, procedures and facilities and, as applicable, have taken all steps to implement such plans and procedures.
The Company and the Company Subsidiaries have taken commercially reasonable actions to protect the integrity and security of the Computer Systems and the information stored therein from unauthorized use, access, or modification by third parties,
except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

(f) The Proprietary Software complies with any applicable warranty or contractual commitment relating to the use, functionality, or performance
of the Proprietary Software, and there are no pending or threatened claims alleging any such failure, except in each case, as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse
Effect. There exist no known technical problems with any Proprietary Software that materially and adversely affect the performance of such Proprietary Software or cause such products to fail to substantially conform to their written specifications
other than routine software bugs and/or glitches that may be promptly remedied in the ordinary course of the business of the Company and the Company Subsidiaries, except in each case, as has not had and would not reasonably be expected to have,
individually or in the aggregate, a Company Material Adverse Effect. 
 (g) Except as set forth on Section 3.18(g)
of the Seller Disclosure Schedules, none of the Proprietary Software contains, is derived from, or is distributed, integrated, or bundled with Software subject to any license commonly referred to as a “copyleft” or “open source”
license that, as used, modified, integrated, bundled, or distributed by the Company or any of the Company Subsidiaries: (i) requires or conditions the use or distribution of such Proprietary Software on the disclosure, licensing or distribution
of any source code for any portion of the Proprietary Software; or (ii) otherwise imposes an obligation on the Company or any of the Company Subsidiaries to distribute any Proprietary Software on a royalty-free basis, except in each case, as
has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. 

Section 3.19. Real Property; Property. 

(a) Neither the Company nor any of the Company Subsidiaries owns any real property. 

(b) Section 3.19(b) of the Seller Disclosure Schedules sets forth a list, as of the date hereof, of each lease,
sublease or other Contract pursuant to which the Company or any Company Subsidiary occupies a real property location (each a “Lease Agreement”) that is material to the Company and the Company Subsidiaries, taken as a whole (each, a
“Material Lease Agreement”). Each Material Lease Agreement is in full force and effect and a valid and binding agreement enforceable against the Company or any of the Company Subsidiaries party

  
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thereto and any other party thereto in accordance with its terms, except as such enforceability may be limited by Bankruptcy and Equity Exceptions, and except as has not had and would not
reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect. Except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect,
(i) none of the Company nor any of the Company Subsidiaries party to, nor, to Seller’s Knowledge, any other party to, any Material Lease Agreement is in breach of or default under any Material Lease Agreement and (ii) the Company and
the Company Subsidiaries have valid leasehold title to each real property subject to a Lease Agreement, sufficient to allow each of the Company and the Company Subsidiaries to conduct their business as currently conducted. 

(c) Except as has not had or would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect,
each of the Company and the Company Subsidiaries, in respect of all of its properties, assets and other rights that do not constitute real property or Intellectual Property, (i) has valid title to all such properties, assets and other rights
reflected in its books and records as owned by it free and clear of all Liens (other than Permitted Liens), and (ii) owns, has valid leasehold interests in or has valid contractual rights to use all of such properties, assets and other rights
(in each case except for Permitted Liens). Such properties, assets and other rights (x) constitute all of the assets, rights and properties used or held for use in the conduct of the Business and (y) are adequate and sufficient for the
continuing conduct of the Business. Following the Bolt Sale, such properties, assets and other rights held by Velocity (x) will constitute all of the assets, rights and properties used or held for use in the conduct by Velocity of the Business
and (y) are adequate and sufficient for the continuing conduct by Velocity of the Business. 
 Section 3.20. Related Party
Transactions. There have been no transactions, or series of related transactions, agreements, arrangements or understandings in effect, nor are there any currently proposed transactions, or series of related transactions, agreements,
arrangements or understandings, that would be required to be disclosed by Seller under Item 404 of Regulation S-K promulgated under the Securities Act that have not been otherwise disclosed in the Parent SEC
Documents filed prior to the date hereof (each, a “Related Party Transaction”). 

  
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 Section 3.21. Insurance. Each of Velocity and Bolt maintains policies of insurance in
such amounts and against such risks as are customary in the industry in which it operates (the “Company Insurance Policies”). All of the Company Insurance Policies are in full force and effect and all premiums due and payable
thereunder have been paid. Neither the Company nor any Company Subsidiary is in breach or default of any of the Company Insurance Policies, or has taken any action or failed to take any action which, with or without notice or the lapse of time or
both, would constitute such a breach or default, or permit termination of any of the Company Insurance Policies, except as has not had and would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect.
No written notice of cancellation, termination or denial of coverage has been received by the Company, any Company Subsidiary, Seller or any of its Affiliates with respect to any Company Insurance Policy, in each case, other than as is customary in
connection with renewals of existing Company Insurance Policies. 
 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES REGARDING SELLER 

Except (a) as disclosed in the Parent SEC Documents filed with the SEC prior to the date of this Agreement; provided that in no
event shall any risk factor disclosure under the heading “Risk Factors” or disclosure set forth in any “forward looking statements” disclaimer or other general statements to the extent they are cautionary, predictive or forward
looking in nature that are included in any part of any Parent SEC Document be deemed to be an exception to, or, as applicable, disclosure for purposes of, any representations and warranties of Seller contained in this Agreement; or (b) as set
forth in the Seller Disclosure Schedules (each section of which qualifies the correspondingly numbered and lettered representation and warranty in this Article 4 to the extent specified therein and the representations and warranties in such
other sections of this Agreement as to which the relevance of the disclosure is reasonably apparent on the face of such disclosure), Seller hereby represents and warrants to Buyer as follows: 

  
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 Section 4.01. Corporate Existence and Power. Seller is a corporation duly
incorporated, validly existing and in good standing under the applicable Law of the State of Delaware. Seller has full power and authority to own, lease and operate its properties and assets and to carry on its business as now conducted and is duly
qualified to do business as a foreign corporation and is in good standing (to the extent a concept of “good standing” is applicable) in each jurisdiction where such qualification is necessary, except where any failure to have such power or
authority or to be so qualified has not had and would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

Section 4.02. Corporate Authorization; Enforceability. Seller has full power and authority to enter into this Agreement and to
consummate the Transactions. The execution, delivery and performance by Seller of this Agreement and the consummation by Seller of the Transactions have been duly authorized by all necessary action on the part of Seller. Seller has duly executed and
delivered this Agreement, and, assuming due authorization, execution and delivery by Buyer, this Agreement constitutes a valid and binding agreement of Seller enforceable against Seller in accordance with its terms, except as such enforceability may
be limited by the Bankruptcy and Equity Exceptions. 
 Section 4.03. Governmental Authorization. The execution, delivery and
performance by Seller of this Agreement and the consummation by Seller of the Transactions require no action by or in respect of, or filing with, any Governmental Authority, other than (a) compliance with any applicable requirements of the HSR
Act and any applicable foreign merger control Law, (b) the filing by Parent with the SEC of (A) the Proxy Statement and (B) any other filings and reports that may be required in connection with this Agreement and the Transactions
under the Exchange Act, (c) compliance by Parent with any applicable requirements of the Securities Act, the Exchange Act, any other applicable U.S. state or federal or foreign securities laws or stock exchange rules, including the rules of
NASDAQ, and (d) any actions or filings the absence of which has not had and would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

Section 4.04. Non-Contravention. The execution, delivery and performance by Seller of this
Agreement and the consummation by Seller of the Transactions do not and will not (with or without notice or lapse of time or both) (a) contravene, conflict with or result in any violation or breach of any provision of the Organizational
Documents of Seller, (b) assuming the actions and filings with respect to the matters referred to in Section 4.03(a) – (c) are made or taken, contravene, conflict with or result in a violation or breach of any
provision of any applicable Law or Order, (c) require any consent or approval under, violate, conflict with, result in any breach of or any loss of any benefit under, or constitute a change of control or default under, or result in termination
or cancellation or give to others any right of termination, vesting, amendment, acceleration or cancellation (in each case, with or without notice or lapse of time or both) of any Contract to which Seller is a party, or by which it or any of its
properties or assets may be bound or affected, or (d) result in the creation or imposition of any Lien, other than any Permitted Lien, on any rights, property or asset of Seller or any of its Subsidiaries, with such exceptions, in the case of
each of clauses (b), (c) and (d), as have not had and would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

  
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 Section 4.05. Title to Company Interests. Seller owns of record and beneficially the
Company Interests, and Seller has good and marketable title to the Company Interests free and clear of all Liens, other than those arising under applicable securities Laws. Immediately following the Closing, Buyer will own of record and beneficially
the Company Interests, and Buyer will have good and marketable title to the Company Interests free and clear of all Liens, other than those arising under applicable securities Laws or whose creation or imposition was caused or permitted by Buyer.

 Section 4.06. Litigation. Except as set forth on Section 4.06 of the Seller Disclosure Schedules,
there is no Proceeding pending against or, to Seller’s Knowledge, threatened against or affecting Seller or any of its Subsidiaries or any of their respective properties or assets and neither Seller nor any of its Subsidiaries is subject to any
outstanding Order, which in either case, has had or would reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

Section 4.07. Compliance with Applicable Law. Except as set forth on Section 4.07 of the Seller
Disclosure Schedules, Seller and each of its Subsidiaries is and, since January 1, 2015, has been in compliance with all applicable Law and Orders, except for such violations or noncompliance that has not had and would not reasonably be
expected to have, individually or in the aggregate, a Seller Material Adverse Effect, and to Seller’s Knowledge, neither Seller nor any of its Subsidiaries is under investigation by any Governmental Authority with respect to any violation of
any applicable Law or Order that would reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect. 

Section 4.08. Brokers’ Fees. Except for Evercore, there is no investment banker, broker, finder or other agent
or intermediary that has been retained by or is authorized to act on behalf of Seller, the Company or any of the Company Subsidiaries, that is entitled to any financial advisory, banking, broker’s, finder’s or similar fee or commission in
connection with the Transactions. 
 ARTICLE 5 

REPRESENTATIONS AND WARRANTIES REGARDING PARENT 

Except (a) as disclosed in the Parent SEC Documents filed with the SEC prior to the date of this Agreement; provided that in no
event shall any risk factor disclosure under the heading “Risk Factors” or disclosure set forth in any “forward looking statements” disclaimer or other general statements to the extent they are cautionary, predictive or forward
looking in nature that are included in any part of any Parent SEC Document be deemed to be an exception to, or, as applicable, disclosure for purposes of, any representations and warranties of Parent contained in this Agreement; or (b) as set
forth in the Seller Disclosure Schedules (each section of which qualifies the correspondingly numbered and lettered representation and warranty in this Article 5 to the extent specified therein and the representations and warranties in such
other sections of this Agreement as to which the relevance of the disclosure is reasonably apparent on the face of such disclosure), Parent hereby represents and warrants to Buyer as follows: 

  
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 Section 5.01. Corporate Existence and Power. Parent is a corporation duly
incorporated, validly existing and in good standing under the applicable Law of the State of Delaware. Parent has full power and authority to own, lease and operate its properties and assets and to carry on its business as now conducted and is duly
qualified to do business as a foreign corporation and is in good standing (to the extent a concept of “good standing” is applicable) in each jurisdiction where such qualification is necessary, except where any failure to have such power or
authority or to be so qualified has not had and would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. 

Section 5.02. Corporate Authorization. 

(a) Authority and Enforceability. Parent has full power and authority to enter into this Agreement and to consummate the Transactions.
The execution, delivery and performance by Parent of this Agreement and the consummation by Parent of the Transactions have been duly authorized by all necessary action on the part of Parent, subject only to the Parent Stockholder Approval. Parent
has duly executed and delivered this Agreement, and, assuming due authorization, execution and delivery by Buyer, this Agreement constitutes a valid and binding agreement of Parent enforceable against Parent in accordance with its terms, except as
such enforceability may be limited by the Bankruptcy and Equity Exceptions. 
 (b) Parent Board Approval and Board Recommendation. At
a meeting duly called and held, prior to the execution of this Agreement, at which all directors of Parent were present and voting in favor, the Parent Board duly adopted resolutions (which, as of the date of this Agreement, have not been rescinded,
modified or withdrawn in any way) (i) approving and declaring that this Agreement and the Transactions are advisable, fair to and in the best interests of the stockholders of Parent, (ii) approving this Agreement, on the terms and subject
to the conditions set forth herein, and (iii) determining to recommend that the stockholders of Parent approve the Transactions and adopt this Agreement (the “Board Recommendation”). The Parent Board has directed that this
Agreement be submitted to the holders of Parent Common Stock for their adoption and approval at the Stockholders Meeting. 

Section 5.03. Governmental Authorization. The execution, delivery and performance by Parent of this Agreement and the consummation
by Parent of the Transactions require no action by or in respect of, or filing with, any Governmental Authority, other than (a) compliance with any applicable requirements of the HSR Act and any applicable foreign merger control Law,
(b) the filing with the SEC by Parent of (A) the Proxy Statement and (B) any other filings and reports that may be required in connection with this Agreement and the Transactions under the Exchange Act, (c) compliance with any
applicable requirements of the Securities Act, the Exchange Act, any other applicable U.S. state or federal or foreign securities laws or stock exchange rules, including the rules of NASDAQ, and (d) any actions or filings the absence of which
has not had and would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. 

Section 5.04. Non-Contravention. The execution, delivery and performance by Parent of this
Agreement and the consummation by Parent of the Transactions do not and will not (with or without notice or lapse of time or both) (a) contravene, conflict with or result in any violation or breach of any provision of the Organizational
Documents of Parent, (b) assuming the actions and 

  
 36 

 
filings with respect to the matters referred to in Section 5.03(a) – (c) are made or taken, contravene, conflict with or result in a violation or breach of any
provision of any applicable Law or Order, (c) require any consent or approval under, violate, conflict with, result in any breach of or any loss of any benefit under, or constitute a change of control or default under, or result in termination
or cancellation or give to others any right of termination, vesting, amendment, acceleration or cancellation (in each case, with or without notice or lapse of time or both) of any Contract to which Parent is a party, or by which it or any of its
properties or assets may be bound or affected, or (d) result in the creation or imposition of any Lien, other than any Permitted Lien, on any rights, property or asset of Parent or any of its Subsidiaries, with such exceptions, in the case of
each of clauses (b), (c) and (d), as have not had and would not reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. 

Section 5.05. Financial Statements; Internal Controls. 

(a) The financial statements included or incorporated by reference in the Parent SEC Documents fairly presented in all material respects the
consolidated financial position of Parent and its consolidated Subsidiaries and Minority Investments as of the dates thereof and the consolidated results of operations and comprehensive income (loss) and cash flows of Parent and its consolidated
Subsidiaries and Minority Investments as of the dates or for the periods presented therein, all in accordance with GAAP and applied on a consistent basis through the periods covered (subject, in the case of the unaudited financial statements, to
normal year-end adjustments and the absence of notes, which will not be material, either individually or in the aggregate). Such financial statements have been prepared from, and are in accordance with, the
books and records of Parent and its Subsidiaries. 
 (b) Parent maintains, and at all times since January 1, 2015, has maintained, a
system of internal controls over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) designed to provide reasonable assurance
regarding the reliability of Parent’s financial reporting and the preparation of Parent’s consolidated financial statements for external purposes in accordance with GAAP. Based on the most recent evaluation of such internal controls prior
to the date of this Agreement, Parent has disclosed to the audit committee of Parent’s Board all “significant deficiencies” or “material weaknesses” (as such terms are defined by the Public Company Accounting Oversight
Board) in the design or operation of such internal controls that would reasonably be expected to be adverse in any material respect to Parent’s ability to record, process, summarize and report financial information and all fraud, whether or not
material, that involves management or other employees who have a significant role in internal controls. 
 Section 5.06. Disclosure
Documents. None of the information supplied or to be supplied by Parent or its Subsidiaries for inclusion or incorporation by reference in the Proxy Statement will, at the time such document is filed with the SEC or at any time it is amended or
supplemented or at the time it is first published, sent or given to the holders of Parent Common Stock, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading. The Proxy Statement will comply as to form in all material respects with the requirements of the Exchange Act and the rules and regulations thereunder. No representation or warranty is made by Parent with respect
to statements made or incorporated by reference therein which were not based on information supplied by or on behalf of Parent or any of its Subsidiaries. 

  
 37 

 Section 5.07. SEC Filings and the Sarbanes-Oxley Act. 

(a) Parent has filed with or furnished to the SEC (subject to automatic extensions pursuant to Exchange Act Rule
12b-25) each report, statement, schedule, form or other document or filing required by the Exchange Act to be filed or furnished by Parent since January 1, 2015 (together with all exhibits thereto and
information incorporated by reference therein, the “Parent SEC Documents”). 
 (b) As of its filing date (or, if amended,
supplemented or superseded, as of the date of the most recent such filing prior to the date of this Agreement), each Parent SEC Document complied as to form in all material respects with the applicable requirements of the Securities Act, the
Exchange Act and the Sarbanes-Oxley Act. 
 (c) As of its filing date (or, if amended, supplemented or superseded, as of the date of the most
recent such filing prior to the date of this Agreement), each Parent SEC Document did not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements
made therein, in the light of the circumstances under which they were made, not misleading. 
 Section 5.08. Litigation. Except
as set forth on Section 5.08 of the Seller Disclosure Schedules, there is no Proceeding pending against or, to Seller’s Knowledge, threatened against or affecting Parent or any of its Subsidiaries or any of their
respective properties or assets and neither Parent nor any of its Subsidiaries is subject to any outstanding Order, which in either case, has had or would reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse
Effect. 
 Section 5.09. Compliance with Applicable Law. Except as set forth on Section 5.09 of the
Seller Disclosure Schedules, Parent and each of its Subsidiaries is and, since January 1, 2015, has been in compliance with all applicable Law and Orders, except for such violations or noncompliance that has not had and would not reasonably be
expected to have, individually or in the aggregate, a Parent Material Adverse Effect, and to Seller’s Knowledge, neither Parent nor any of its Subsidiaries is under investigation by any Governmental Authority with respect to any violation of
any applicable Law or Order that would reasonably be expected to have, individually or in the aggregate, a Parent Material Adverse Effect. 

Section 5.10. Brokers’ Fees. Except for Evercore, there is no investment banker, broker, finder or other agent
or intermediary that has been retained by or is authorized to act on behalf of Parent, Seller, any of their respective Subsidiaries, the Company or any of the Company Subsidiaries, that is entitled to any financial advisory, banking, broker’s,
finder’s or similar fee or commission in connection with the Transactions. 
 Section 5.11. Vote Required. Assuming the
accuracy of the representations contained in Section 6.08, the affirmative vote of the holders of a majority of the Parent Common Stock issued and outstanding on the record date for a meeting of the stockholders of Parent
(the “Parent Stockholder Approval”) is the only vote of the holders of any class or series of Parent’s capital stock necessary to adopt this Agreement and consummate the Transactions. 

  
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 Section 5.12. Takeover Laws. Assuming the accuracy of the representation contained in
Section 6.05 and Section 6.08, the Parent Board has taken such actions and votes as are necessary, if applicable, to render the provisions of any “fair price,” “moratorium,”
“control share acquisition” or other takeover or anti-takeover statute or similar federal or state Law inapplicable to this Agreement or any of the Transactions. 

Section 5.13. Opinion of Financial Advisor. The Parent Board has received an opinion from Evercore to the effect that, as of such
date and based upon and subject to the matters, assumptions, qualifications and limitations set forth therein, the Purchase Price is fair, from a financial point of view, to Seller. Parent will, following the execution of this Agreement, make
available to Buyer, solely for informational purposes, a signed copy of such opinion. 
 Section 5.14. No Other Representations or
Warranties. Except for the representations and warranties expressly set forth in Article 3, Article 4 and this Article 5 (as qualified by the Parent SEC Documents and the Seller Disclosure Schedules), none of Parent, Seller
or any of their Affiliates nor any other Person on behalf of any of them makes or has made any express or implied representation or warranty with respect to (a) Parent, Seller, the Company, the Company Subsidiaries or their respective
businesses, affairs, operations, assets, liabilities, conditions (financial or otherwise), prospects or any other matter relating to Parent, Seller, the Company or any Company Subsidiaries or (b) any documentation, forecasts, budgets,
projections, estimates or other information (including the accuracy or completeness of, or the reasonableness of the assumptions underlying, such documentation, forecasts, budgets, projections, estimates or other information) Made Available, to
Buyer or its Representatives or Affiliates in connection with the Transactions. Buyer has not relied on any such information or any representation or warranty not set forth in Article 3, Article 4 and this Article 5. Parent and
Seller acknowledge and agree that, except for the representations and warranties made by Buyer in Article 6, neither Buyer nor any other Person is making or has made any representations or warranties, expressed or implied, at law or in
equity, with respect to or on behalf of Buyer or any of its Subsidiaries. Neither Parent nor Seller is relying upon and specifically disclaims that it is relying upon or has relied upon any such other representations or warranties that may have been
made by any Person, and acknowledges and agrees that Buyer and its Affiliates have specifically disclaimed and do hereby specifically disclaim any such other representations and warranties. 

ARTICLE 6 

REPRESENTATIONS AND WARRANTIES REGARDING BUYER 

Buyer hereby represents and warrants to Seller as follows: 

Section 6.01. Corporate Existence and Power. Buyer is a corporation duly incorporated, validly existing and, when applicable, in
good standing under the laws of its jurisdiction of formation and has all corporate powers required to carry on its business as now conducted in all material respects. 

  
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 Section 6.02. Authorization; Enforceability. Buyer has full power and
authority to enter into this Agreement and to consummate the Transactions. The execution and delivery by Buyer of this Agreement and the consummation by Buyer of the Transactions have been duly authorized by all necessary corporate action on the
part of Buyer. Buyer has duly executed this Agreement, and, assuming due authorization, execution and delivery by Seller, Parent and the Company, this Agreement constitutes a valid and binding agreement of Buyer, enforceable against Buyer in
accordance with its terms, except as such enforceability may be limited by the Bankruptcy and Equity Exceptions. The Board of Directors of Buyer has determined that this Agreement and the Transactions are fair to and in the best interests of Buyer
and its sole stockholder and approved and declared advisable this Agreement and the Transactions. 
 Section 6.03. Governmental
Authorization. The execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the Transactions require no action by or in respect of, or filing with, any Governmental Authority, other than (a) compliance
with any applicable requirements of the HSR Act and any applicable foreign merger control Law, (b) the filing with the SEC of any filings and reports that may be required in connection with this Agreement and the Transactions under the Exchange
Act, (c) compliance with any applicable requirements of the Securities Act, the Exchange Act and any other U.S. state or federal securities laws and stock exchange rules and (d) any actions or filings the absence of which have not had or
which would not reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect. 
 Section 6.04. Non-Contravention. The execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the Transactions do not and will not (with or without notice or lapse of time or
both) (a) contravene, conflict with or result in any violation or breach of any provision of the articles of organization or bylaws (or similar governing documents) of Buyer, (b) assuming the actions and filings with respect to the matters
referred to in Section 6.03(a)-(c) are made or taken, contravene, conflict with or result in a violation or breach of any provision of any applicable Law or Order or (c) require any consent or approval under, violate,
conflict with, result in any breach of or any loss of any benefit under, constitute a change of control or default under, result in termination or cancellation or give to others any right of termination, vesting, amendment, acceleration or
cancellation of any Contract to which Buyer or any Subsidiary of Buyer is a party, or by which they or any of their respective properties or assets may be bound or affected or any Permits affecting, or relating in any way to, the property, assets or
business of Buyer or any Subsidiary of Buyer or (d) result in the creation or imposition of any Lien, other than a Permitted Lien, on any rights, property or asset of Buyer or any Subsidiary of Buyer, with such exceptions, in the case of each
of clauses (b), (c) and (d) above, as have not had and would not reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect. 

Section 6.05. No Vote of Buyer Stockholders; Required Approval. No vote or consent of the holders of any class or series of
capital stock of Buyer or the holders of any other securities of Buyer (equity or otherwise) is necessary to adopt this Agreement or to approve the Transactions. 

  
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 Section 6.06. Disclosure Documents. None of the information supplied or to be
supplied by Buyer for inclusion or incorporation by reference in the Proxy Statement will, at the time such document is filed with the SEC, at any time it is amended or supplemented or at the time it is first published, sent or given to the holders
of Parent Common Stock, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. No representation or warranty is made by Buyer with
respect to statements made or incorporated by reference therein which were not based on information supplied by or on behalf of Buyer. 

Section 6.07. Litigation. As of the date of this Agreement, there is no Proceeding pending against or, to the knowledge of Buyer,
threatened against or affecting, Buyer or any of its Subsidiaries or any of their respective properties or assets that would have or would reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect. Neither
Buyer nor any of its Subsidiaries is subject to any Order that would have, individually or in the aggregate, a Buyer Material Adverse Effect or that relates to this Agreement. 

Section 6.08. Ownership. As of the date hereof, none of Buyer or any of its Subsidiaries or controlled Affiliates
beneficially owns, directly or indirectly (including pursuant to a derivatives contract), any shares of Parent Common Stock or other securities convertible into, exchangeable for or exercisable for shares of Parent Common Stock and none of Buyer or
any of its Subsidiaries or controlled Affiliates has any rights to acquire, directly or indirectly, any shares of Seller Common Stock. 

Section 6.09. Buyer Material Adverse Effect. No Effects have occurred or are reasonably expected to occur that would or would
reasonably be expected to constitute, individually or in the aggregate, a Buyer Material Adverse Effect. 
 Section 6.10.
Availability of Funds. 
 (a) Buyer has received (i) the Equity Commitment Letter from the Sponsors to provide equity financing
in an aggregate amount set forth therein, subject to the terms and conditions set forth therein (the “Equity Financing”), and (ii) an executed debt commitment letter dated as of the date of this Agreement, including all
annexes, exhibits, schedules and other attachments thereto (collectively, the “Debt Commitment Letter” and, together with the Equity Commitment Letter, the “Commitment Letters”), from the financial institutions
party thereto, pursuant to which such financial institutions have committed, subject to the terms and conditions set forth therein, to provide to Buyer the amount of financing set forth in the Debt Commitment Letter (the “Debt
Financing” and, together with the Equity Financing, the “Financing”). Buyer has also received an executed fee letter that relates to the Debt Financing (the “Fee Letter”). A true and complete copy of each
Commitment Letter and the Fee Letter, which has been redacted in the manner required by the terms thereof (and the provisions so redacted do not affect conditionality of the Debt Financing), has been previously provided to Seller. Buyer has fully
paid, or caused to be paid, any and all commitment fees or other fees required by such Commitment Letters to be paid on or before the date of this Agreement, and all other such fees are required to be paid no earlier than the Closing and, as of the
Closing, Buyer shall have paid all other such fees. The Equity Commitment Letter is a legal, valid and binding obligation of Buyer, enforceable against Buyer and, to the knowledge of Buyer, each other party thereto, in each case, in accordance with
its terms except as may be limited by the Bankruptcy and Equity 

  
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Exceptions. The Debt Commitment Letter is a legal, valid and binding obligation of Buyer, enforceable against Buyer and, to the knowledge of Buyer, each other party thereto, in each case, in
accordance with its terms except as may be limited by the Bankruptcy and Equity Exceptions. As of the date of this Agreement, each Commitment Letter is in full force and effect, has not been amended, modified, withdrawn, terminated or rescinded in
any respect, and no event has occurred which (with or without notice, lapse of time or both) would reasonably be expected to constitute a breach thereunder on the part of Buyer. As of the date of this Agreement, Buyer is not in breach in any
material respect of any of the terms and conditions set forth in the Commitment Letters. The aggregate proceeds contemplated by the Commitment Letters will be sufficient for Buyer to complete the Transactions and to satisfy all of its obligations
under this Agreement and to pay all of the fees and expenses incurred by Buyer in connection therewith. As of the date of this Agreement, Buyer has no reason to believe that it will be unable to satisfy on a timely basis any term or condition of
closing of the Financing to be satisfied by it contained in the Commitment Letters and has not incurred any obligation, commitment, restriction or liability of any kind, and is not contemplating or aware of any obligation, commitment, restriction or
liability of any kind, in either case which would reasonably be expected to delay, impair or adversely affect such resources, or that the Financing or any portion thereof will otherwise not be available to Buyer on the Closing Date. There are no
conditions precedent or other contingencies related to the availability or the funding of the full amount of the Financing, other than the conditions expressly set forth in the Commitment Letters. As of the date of this Agreement, none of the
parties to the Commitment Letters has notified Buyer of its intention to terminate any Commitment Letter or to not provide the Financing as contemplated by the applicable Commitment Letter. 

(b) Except for the Fee Letter, there are no side letters or other agreements, contracts, arrangements or understandings related to funding or
investing, as applicable, that would reasonably be expected to (i) prevent or substantially delay the availability of the full amount of the funds contemplated by the Commitment Letters at the Closing or (ii) adversely affect the
enforceability of the Commitment Letters. 
 (c) Buyer’s obligation to consummate the Transactions is not in any way contingent upon or
otherwise subject to Buyer’s consummation of any financing arrangements, Buyer’s obtaining any financing or the availability, grant, provision or extension of any financing to Buyer. 

(d) Concurrently with the execution of this Agreement, the Sponsors delivered to Seller a duly executed Sponsor Guarantee. The Sponsor
Guarantee is a legal, duly authorized, valid and binding obligation of each of the Sponsors, enforceable against the Sponsors in accordance with its terms, except as may be limited by the Bankruptcy and Equity Exceptions. There is no default under
the Sponsor Guarantee by any Sponsor, and no event has occurred that, with or without notice, lapse of time or both, would constitute a default by any party thereto. 

Section 6.11. Solvency. Immediately prior to and after giving effect to the consummation of the Transactions: 

  
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 (a) the fair saleable value (determined on a going-concern basis) of the assets of Buyer and its
Subsidiaries, taken as a whole, will be greater than the total amount of their liabilities, taken as a whole (including all Liabilities); 

(b) Buyer and its Subsidiaries will be able to pay their debts and obligations in the ordinary course of business as they become due; and 

(c) Buyer and its Subsidiaries will have adequate capital to carry on their businesses and all businesses in which they are about to engage.

 Section 6.12. Brokers’ Fees. Except for RBC Capital Markets, LLC, there is no investment banker, broker,
finder or other agent or intermediary that has been retained by or is authorized to act on behalf of Buyer or any of its Subsidiaries, that is entitled to any financial advisory, banking, broker’s, finder’s or similar fee or commission in
connection with the Transactions. 
 Section 6.13. No Other Representations or Warranties. Except for the representations and
warranties expressly set forth in this Article 6, none of Buyer or any of its Affiliates nor any other Person on behalf of any of them makes or has made any express or implied representation or warranty with respect to Buyer, its Subsidiaries
or their respective businesses, affairs, operations, assets, liabilities, conditions (financial or otherwise), prospects or any other matter relating to Buyer or any of its Affiliates or with respect to any other information provided, or made
available, to Seller, Parent or their Representatives or Affiliates in connection with the Transactions, including the accuracy or completeness thereof. Buyer acknowledges and agrees that, except for the representations and warranties made in
Article 3, Article 4 and Article 5 (as qualified by the applicable items disclosed in the Seller Disclosure Schedules), neither Seller, Parent, nor the Company nor any other Person is making or has made any representations or
warranties, expressed or implied, at law or in equity, with respect to or on behalf of Seller, Parent, the Company or any of the Company Subsidiaries, their businesses, operations, assets, liabilities, financial condition, results of operations,
future operating or financial results, estimates, projections, forecasts, plans or prospects (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, plans or prospects) or the accuracy or completeness of
any information regarding Seller, Parent, the Company or any of the Company Subsidiaries or any other matter furnished or provided to Buyer or Made Available to Buyer or its Representatives in the Data Room or otherwise made available in any other
“data rooms,” “virtual data rooms,” management presentations or in any other form in expectation of, or in connection with, this Agreement or the Transactions, in each case prior to the date hereof. Buyer is not relying and
specifically disclaims that it is relying upon or has relied upon any such other representations or warranties that may have been made by any Person, and acknowledges and agrees that Seller, Parent and their Affiliates have specifically disclaimed
and do hereby specifically disclaim any such other representations and warranties. Buyer has conducted its own independent investigation of the Company and the Company Subsidiaries and the Transactions and has had a reasonable opportunity to discuss
and ask questions regarding the Company and the Company Subsidiaries’ businesses with the management of the Company. 

  
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 ARTICLE 7 

COVENANTS 

Section 7.01. Conduct of the Company. 

(a) During the period commencing on the date of this Agreement and ending on the earlier of the termination of this Agreement in accordance
with Article 9 and the Closing (the “Pre-Closing Period”), except as (i) set forth in Section 7.01 of the Seller Disclosure Schedules,
(ii) expressly contemplated by this Agreement, (iii) required by applicable Law or (iv) undertaken with the prior written consent of Buyer (which consent shall not be unreasonably withheld, conditioned or delayed) the Company shall,
and Parent and Seller shall cause the Company and each of the Company Subsidiaries to, use commercially reasonable efforts to conduct its business in the ordinary course, and to the extent consistent therewith, use its commercially reasonable
efforts to preserve substantially intact its business organization and preserve satisfactory relationships with Governmental Authorities, employees, customers and suppliers having significant business dealings with them; provided that no
action by the Company or any Company Subsidiary with respect to matters specifically addressed in Section 7.01(b) shall be deemed a breach of this Section 7.01(a) unless such action constitutes a
breach of Section 7.01(b). 
 (b) Except as set forth in clauses (i) through (iv) of
Section 7.01(a), without limiting the generality of Section 7.01(a), during the Pre-Closing Period, the Company shall not, nor shall Parent or Seller permit
the Company or any of the Company Subsidiaries to, do any of the following: 
 (i) (A) declare, set aside, or pay any dividends on, or
make any other distributions (whether in cash, stock or property) with respect to, any of its capital stock or other equity interests, other than dividends or distributions by a direct or indirect Company Subsidiary to the Company or another Company
Subsidiary, (B) split, combine or reclassify any of its capital stock or other equity interests or issue or authorize the issuance of any other securities in substitution for shares of its capital stock or its other equity interests or
(C) purchase, redeem or otherwise acquire (1) any shares of its capital stock or its other equity interests or other voting securities or (2) any options, warrants, calls or rights to acquire, or any securities convertible into or
exchangeable for, any such shares or other equity interests or voting securities (except upon the net exercise of options, warrants, calls or rights disclosed in the Seller Disclosure Schedules); 

(ii) issue, deliver, sell, grant, pledge or otherwise encumber or subject to any Lien any shares of its capital stock or its other equity
interests or other voting securities or any options or other equity awards of the Company or the Company Subsidiaries, warrants, calls or rights to acquire any such shares or other equity interests or other voting securities (other than the issuance
of shares of capital stock of Velocity Holdings or Bolt Holdings pursuant to the exercise of equity awards of Velocity Holdings or Bolt Holdings issued and outstanding as of the date hereof in accordance with the applicable terms thereof); 

(iii) amend the Organizational Documents of the Company or any of the Company Subsidiaries; 

(iv) merge or consolidate with, or purchase an equity interest in, or acquire all or substantially all of the assets of, any Person or any
division or business thereof; 

  
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 (v) sell, lease, license, or otherwise dispose of any of its real or personal properties or
assets (including capital stock or other equity interests of any Company Subsidiary, other than Bolt in accordance with the terms of this Agreement and the Bolt Sale Agreement), other than (A) sales of inventory and other assets in the ordinary
course of business, (B) sales, leases, licenses, or dispositions pursuant to any Contract in effect on the date of this Agreement, and (C) non-exclusive licenses (other than source code licenses) of
Proprietary Software in the ordinary course of business; 
 (vi) (A) incur any Indebtedness of the Company or any Company Subsidiaries
or guarantee Indebtedness of another Person, other than (1) Indebtedness incurred to finance capital expenditures permitted by clause (vii) below, and (2) subject to Section 7.14(d), Indebtedness between or
among Parent or any of its Subsidiaries (other than Velocity), on the one hand, and Bolt Holdings and any Subsidiaries of Bolt Holdings, on the other hand, or (B) make any loans or capital contributions to, or investments in, any Person other
than loans, capital contributions or investments made by the Company to or in Velocity Holdings and Subsidiaries of Velocity Holdings; 

(vii) make any capital expenditures, other than in an aggregate amount not to exceed $100,000; 

(viii) enter into any contract that would constitute a Material Contract if in existence on the date hereof, or modify or amend in any material
respect or terminate (excluding terminations or renewals upon expiration of the term thereof in accordance with the terms thereof in the ordinary course), or waive any material right or claim under, any Material Contract to which the Company or any
of the Company Subsidiaries is a party, in each case other than in the ordinary course of business (including renewals consistent with the terms thereof); 

(ix) (A) grant or agree to grant any increase in base salary, bonus opportunity or other compensation to any current or former executive
officer, employee or director of the Company or any Company Subsidiary, except (1) as required under the terms of existing Contracts (x) that were Made Available to Buyer and (y) in effect as of the date hereof (including the terms of
any Company Employee Plan) or (2) in the ordinary course of business, increases in compensation to non-officer employees, (B) adopt or terminate any Company Employee Plan (except as required by
applicable Law) or (C) establish, enter into, modify, amend or terminate any Company Employee Plan or arrangement that would be a Company Employee Plan if in existence as of the date hereof, except as required by applicable Law or to maintain
the Tax-qualified status of any Company Employee Plan or as would not result in a material increase in cost to Buyer; 

(x) hire or terminate (other than for cause) the employment of any officer of the Company or any Company Subsidiaries or promote any person to
such position; 
 (xi) enter into, modify, amend, or terminate any collective bargaining or other agreement with any labor union, works
council, or similar labor organization; 

  
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 (xii) make any material change in accounting methods, principles or practices, except insofar
(A) as may have been required by a change in GAAP (or any interpretation thereof) or Regulation S-X under the Securities Act, (B) as may be required by a change in applicable Law or (C) as
disclosed in the Parent SEC Documents or as required by a Governmental Authority or quasi-governmental entity (including the Financial Accounting Standards Board or any similar organization); 

(xiii) make, revoke or change any income Tax election or other material Tax election (including, for the avoidance of doubt, any election with
respect to the U.S. federal income tax classification of the Company); change any annual Tax accounting period; adopt or make any change to any of its methods of accounting for Tax purposes; file any amended income Tax Return or other material Tax
Return; enter into any ruling request or closing agreement; settle or compromise any income Tax claim or other material Tax claim or assessment; prepare any income Tax Return or other material Tax Return in a manner that is inconsistent with past
practice; consent to any extension or waiver of the limitations period applicable to any income Tax claim or other material Tax claim or assessment; or fail to timely make payments of income Taxes or other material Taxes when due, except such Taxes
that are contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP; 

(xiv) enter into any new material line of business outside of the Business; 

(xv) other than Stockholder Litigation, which is addressed in Section 7.11, waive, release, assign, settle or
compromise any Proceeding, other than waivers, releases, assignments, settlements or compromises that involve only the out of pocket payment of monetary damages that do not exceed $300,000 in the aggregate for all such claims or proceedings, or
commence any material claim, litigation, investigation or proceeding; 
 (xvi) adopt a plan or agreement of complete or partial liquidation
or dissolution of the Company or any of the Company Subsidiaries (other than a Bolt Sale, if applicable, in accordance with the terms of this Agreement and the Bolt Sale Agreement); 

(xvii) enter into or amend in any material respect any Related Party Transaction; 

(xviii) fail to maintain, or allow to lapse, be dedicated to the public, be made “open source”, or be abandoned, any Proprietary
Software or any material Company IP Rights; or 
 (xix) authorize any of, or commit or agree to take any of, the foregoing actions. 

(c) Notwithstanding anything to the contrary in this Section 7.01, the parties hereto acknowledge and agree that
(i) nothing contained in this Agreement shall give Buyer, directly or indirectly, the right to control, direct, or in any way exercise beneficial ownership with respect to the Company’s operations (including for purposes of the HSR Act)
prior to the Closing and (ii) no consent of Buyer shall be required with respect to any matter set forth in this Agreement to the extent that the requirement of such consent would violate any applicable Law. Prior to the Closing, the Company
shall exercise, and Parent and Seller shall cause the Company to exercise, consistent with the terms and conditions hereof, complete control and supervision over its operations and the Business. Notwithstanding anything to the contrary herein,
nothing contained in this Section 7.01 shall restrict the Company’s right or ability to effect the Bolt Sale in accordance with the terms of this Agreement and the Bolt Sale Agreement or, following the closing of the
Bolt Sale, but subject to Section 2.04(a), to distribute any proceeds received therefrom. 

  
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 Section 7.02. Unsolicited Proposals. 

(a) Except as otherwise expressly permitted by this Section 7.02, from the date of this Agreement until the Closing
or, if earlier, the termination of this Agreement in accordance with its terms, Parent will not, and shall cause its Subsidiaries (including Seller, the Company, Velocity and, except in accordance with this Agreement, Bolt) and use all reasonable
best efforts to cause their respective Representatives not to, directly or indirectly, (i) initiate, solicit or knowingly encourage or knowingly facilitate the making of any Acquisition Proposal or any inquiry, proposal or request for
information that would reasonably be expected to lead to, or result in, an Acquisition Proposal, (ii) other than informing Third Parties of the existence of the provisions contained in this Section 7.02, engage in
negotiations or discussions with, or furnish any information concerning the Company or any of the Company Subsidiaries to, any Third Party who has made, or in response to, an Acquisition Proposal or any inquiry, proposal or request for information
that would reasonably be expected to lead to, or result in, an Acquisition Proposal or (iii) resolve or agree to do any of the foregoing. Promptly following the execution of this Agreement, Parent shall cease and cause to be terminated all
existing discussions or negotiations of Parent, its Affiliates and its and their Representatives with any Person conducted heretofore with respect to any Acquisition Proposal, or any inquiry or proposal that would reasonably be expected to lead to,
or result in, an Acquisition Proposal. Notwithstanding anything herein to the contrary, Parent shall be permitted to grant waivers of, and not enforce, any standstill provision or similar provision that has the effect of prohibiting the counterparty
thereto from making an Acquisition Proposal. 
 (b) Notwithstanding anything to the contrary contained in this Agreement, if prior to
obtaining the Parent Stockholder Approval, Parent receives a bona fide written Acquisition Proposal which has not resulted from a breach of this Section 7.02, Parent and the Parent Board and/or their Representatives may,
subject to compliance with this Section 7.02(b), engage in negotiations or discussions with, or furnish any information and reasonable access to, such Third Party making such Acquisition Proposal and/or its Representatives
or potential financing sources if the Parent Board (or a committee thereof) determines in good faith, after consultation with Parent’s outside legal and financial advisors, and based on information then available, that such Acquisition Proposal
constitutes, or would reasonably be expected to lead to, or result in, a Superior Proposal; provided that (i) prior to furnishing any nonpublic information, Parent receives from such Third Party an executed Acceptable Confidentiality
Agreement and (ii) any such nonpublic information so furnished has been previously provided or Made Available to Buyer or is provided or made available to Buyer promptly (and in any event within one (1) Business Day) after it is so
furnished to such Third Party. Notwithstanding anything to the contrary contained in this Agreement, Parent may, following the receipt of an Acquisition Proposal, contact the Third Party that has made such Acquisition Proposal to (x) clarify
and understand the terms and conditions thereof to facilitate the Parent Board’s (or committee’s) determination with respect to whether such Acquisition Proposal constitutes, or would reasonably be expected to lead to, or result in, a
Superior Proposal and (y) inform such Third Party of the provisions of this Section 7.02. 

  
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 (c) Except as otherwise provided in the last sentence of this
Section 7.02(c) or in Section 7.02(d), until the termination of this Agreement, neither the Parent Board nor any committee thereof shall (i) (A) withdraw (or qualify or modify in any manner
adverse to Buyer), or publicly propose to withdraw (or so qualify or modify), the Board Recommendation, (B) take any action to exempt any Person (other than Buyer and its Affiliates) from the provisions of Section 203 of the DGCL or any
other applicable state takeover statute or (C) approve, adopt or recommend any Acquisition Proposal, or propose publicly to approve, adopt or recommend any Acquisition Proposal (any action described in this clause (i) being referred to as
a “Change in Recommendation”) or (ii) allow Parent or any of its Subsidiaries to execute or enter into any letter of intent, memorandum of understanding, agreement in principle, merger agreement, acquisition agreement, option
agreement, joint venture agreement, alliance agreement, partnership agreement or similar agreement or arrangement (other than an Acceptable Confidentiality Agreement) with any Third Party providing for or related to or that would reasonably be
expected to lead to, or result in, an Acquisition Transaction (an “Alternative Acquisition Agreement”). Notwithstanding anything to the contrary contained in this Agreement, at any time prior to obtaining the Parent Stockholder
Approval, in the event a development, event, fact, occurrence or change in circumstances (other than an Acquisition Proposal) occurs or arises after the date of this Agreement that was not known (or, if known, the consequences or magnitude of which
were not known or understood as of the date of this Agreement) by the Parent Board as of the date of this Agreement, the Parent Board may make a Change in Recommendation if the Parent Board determines, after consultation with its outside legal
advisor, that the failure to take such action would reasonably be expected to be inconsistent with the Parent Board’s fiduciary duties under applicable Law; provided, that Parent has provided Buyer four (4) Business Days’ prior
written notice advising Buyer that it intends to take such action and specifying, in reasonable detail, the reasons for such action. 
 (d)
Notwithstanding anything to the contrary contained in this Agreement, at any time prior to obtaining the Parent Stockholder Approval, if, in response to a written Acquisition Proposal made after the date of this Agreement which has not resulted from
a breach of this Section 7.02, the Parent Board determines in good faith (after consultation with its outside legal and financial advisors) that (i) such Acquisition Proposal constitutes a Superior Proposal and
(ii) the failure to approve or recommend such Superior Proposal would reasonably be expected to be inconsistent with the Parent Board’s fiduciary duties under applicable Law, Seller or Parent may terminate this Agreement pursuant to
Section 9.01(d)(i) to enter into an Alternative Acquisition Agreement with respect to such Superior Proposal; provided, however, that neither Seller nor Parent may terminate this Agreement pursuant to
Section 9.01(d)(i) unless (A) Parent shall have provided to Buyer four (4) Business Days’ prior written notice (the “Superior Proposal Notice”) advising Buyer that Seller or Parent intends to
take such action (and specifying, in reasonable detail the material terms and conditions of any such Superior Proposal and providing Buyer a copy of the applicable Alternative Acquisition Agreement) and (B): 

(i) during such four (4) Business Day period, if requested by Buyer, Parent shall have engaged in good faith negotiations with Buyer
regarding changes to the terms of this Agreement intended to cause such Acquisition Proposal to no longer constitute a Superior Proposal; and 

  
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 (ii) the Parent Board shall have considered any adjustments to this Agreement (including a change
to the price terms hereof) that may be irrevocably proposed in writing by Buyer (the most recent such adjustments, the “Proposed Changed Terms”) no later than 5:00 p.m., New York City time, on the fourth (4th) Business Day of such
four (4)) Business Day period and shall have determined in good faith (after consultation with its outside legal and financial advisors) that the Superior Proposal would continue to constitute a Superior Proposal if the Proposed Changed Terms were
to be given effect; 
 provided, further that, in the event of any amendment to any material terms of such Superior Proposal, Parent shall be
required to deliver a new Superior Proposal Notice to Buyer and to comply with the requirements of this Section 7.02(d) with respect to such new Superior Proposal Notice, except that the deadline for such new written notice
shall be reduced to three (3) Business Days (rather than the four (4) Business Days otherwise contemplated by this Section 7.02(d)); and 

(iii) Parent shall promptly (and in any event within one (1) Business Day) advise Buyer orally or in writing in the event that Parent or
any of its Subsidiaries receives any Acquisition Proposal, and in connection with such notice, if applicable, provide to Buyer the material terms and conditions (including, unless prohibited by the terms of any existing confidentiality or non-disclosure agreement, the identity of the Person making any such Acquisition Proposal) of any such Acquisition Proposal. Parent shall (i) promptly (and in any event within one (1) Business Day) notify
Buyer of any material change to the material terms of any such Acquisition Proposal or any determination by the Parent Board pursuant to Section 7.02(b) and (ii) provide to Buyer as soon as practicable (and in any
event within one (1) Business Day) after receipt thereof any written indication of interest (or amendment thereto) (or if oral, written summaries of such indication of interest) or any written material that constitutes an Acquisition Proposal
(or amendment thereto) including copies of any proposed Alternative Acquisition Agreements and any financing commitments related thereto. 

(e) Nothing contained in this Agreement shall prohibit Parent or the Parent Board, directly or indirectly through their respective
Representatives, from (i) taking and disclosing any position or disclosing any information reasonably required under Rule 14d-9, Rule 14e-2(a) or Item 1012(a) of
Regulation M-A promulgated under the Exchange Act (or any similar communication to stockholders in connection with the making or amendment of a tender offer or exchange offer), (ii) making any “stop, look
and listen” communication to Parent’s stockholders pursuant to Rule 14d-9(f) promulgated under the Exchange Act, (iii) the accurate disclosure of factual information regarding the business,
financial condition or results of operations of Parent or (iv) the accurate disclosure of the fact that an Acquisition Proposal has been made, the identity of the party making such Acquisition Proposal, the material terms of such Acquisition
Proposal and/or the operation of this Agreement with respect thereto. 

  
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 Section 7.03. Proxy Statement; Stockholders Meeting. 

(a) Proxy Statement 
 (i)
As promptly as practicable following the date hereof (and in no event later than thirty (30) days following the date hereof), Parent shall prepare and cause to be filed with the SEC, and Buyer shall cooperate with Parent in preparation of, a
proxy statement relating to the Stockholders Meeting (such proxy statement, including the letter to stockholders, notice of meeting and form of proxy and any other document incorporated or referenced therein, including any amendment or supplement
thereto, the “Proxy Statement”). Without limiting the generality of the foregoing, Buyer will promptly furnish to Parent the information relating to it that is required by the Exchange Act and the rules and regulations promulgated
thereunder to be set forth in the Proxy Statement, that is customarily included in the proxy statements prepared in connection with transactions of the type contemplated by this Agreement or that is reasonably requested by Parent. Parent agrees that
at the date of mailing to stockholders of Parent and at the time of the Stockholders Meeting, the Proxy Statement will comply in all material respects with the applicable provisions of the Exchange Act and the rules and regulations thereunder. 

(ii) Parent will use its reasonable best efforts to have the Proxy Statement cleared by the SEC as promptly as reasonably practicable following
its filing with the SEC. Parent will cause the Proxy Statement to be mailed to Parent’s stockholders as promptly as reasonably practicable after the Proxy Statement is cleared by the SEC. 

(iii) If at any time prior to the Stockholders Meeting, any event or circumstance relating to Parent, Seller, the Company, Buyer or their
respective Affiliates should be discovered by Parent, Seller, the Company or Buyer which, pursuant to the Securities Act or Exchange Act, should be set forth in an amendment or a supplement to the Proxy Statement, such party shall reasonably
promptly inform the other parties. If at any time prior to the Stockholders Meeting, any such event or circumstance is discovered by Parent, Seller, the Company or Buyer, then in each case Parent shall, reasonably promptly after becoming aware
thereof, amend or supplement, as applicable, the Proxy Statement to include disclosure of such fact or event. 
 (iv) Parent shall promptly
notify Buyer of the receipt of all comments of the SEC with respect to the Proxy Statement and of any request by the SEC for any amendment or supplement thereto or for additional information. Parent shall promptly provide to Buyer copies of all
correspondence between Parent and/or any of its Representatives and the SEC with respect to the Proxy Statement. Parent shall use its reasonable best efforts (with the assistance of Buyer) to promptly provide responses to the SEC with respect to all
comments received on the Proxy Statement from the SEC and Parent shall cause the definitive Proxy Statement to be mailed promptly after the date the SEC staff advises that it has no further comments thereon or that Parent may commence mailing the
Proxy Statement. 
 (v) Subject to applicable Law, notwithstanding anything to the contrary stated above, prior to filing or mailing the
Proxy Statement or filing any other required filings (or, in each case, any amendment or supplement thereto) or responding to any comments of the SEC with respect thereto, Parent shall provide Buyer with an opportunity to review and comment on such
document or response and shall in good faith consider for inclusion in such document or response comments reasonably proposed by Buyer, and absent the consent of Buyer (not to be unreasonably withheld, conditioned or delayed), Parent shall not file
the Proxy Statement or any such document or response. 

  
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 (b) Stockholders Meeting 

(i) Unless this Agreement has been terminated in accordance with Article 9, Parent will take, in accordance with applicable Law
(including the DGCL) and its certificate of incorporation and bylaws and the rules of the NASDAQ, all action necessary to establish a record date, duly call, give notice of, convene and hold a meeting of holders of Parent Common Stock (the
“Stockholders Meeting”) for purposes of obtaining the Parent Stockholder Approval on a date selected by Parent after consultation with Buyer as promptly as reasonably practicable (and in any event no later than forty-five
(45) calendar days after (i) the tenth (10th) calendar day after the preliminary Proxy Statement therefor has been filed with the SEC if by such date the SEC has not informed Parent that
it intends to review the Proxy Statement or (ii) if the SEC has by such date informed Parent that it intends to review the Proxy Statement, the date on which the SEC confirms that it has no further comments on the Proxy Statement, subject to
any delay that may be reasonably necessary to comply with the rules of the NASDAQ and/or Rule 14a-13 under the Exchange Act with respect to the record date for the Stockholders Meeting); provided,
however, Parent may postpone or adjourn the Stockholders Meeting solely (i) with the consent of Buyer; (ii) after consultation with Buyer, if Parent has not received proxies representing a sufficient number of shares of Parent
Common Stock for the Parent Stockholder Approval to constitute a quorum necessary to conduct the business of the Stockholders Meeting; or (iii) after consultation with and approval of Buyer (such approval not to be unreasonably withheld,
conditioned or delayed), to allow reasonable time for any supplemental or amended disclosure which Parent has determined in good faith is reasonably necessary under applicable Law for such supplemental or amended disclosure to be disseminated and
reviewed by holders of Parent Common Stock prior to the Stockholders Meeting. Notwithstanding the foregoing, Parent shall, at the request of Buyer, to the extent permitted by Law, adjourn the Stockholders Meeting to a date specified by Buyer if
Parent has not received proxies representing a sufficient number of shares of Parent Common Stock for the Parent Stockholder Approval. 

(ii) The adoption of this Agreement, the adjournment or postponement of the Stockholders Meeting due to the absence of a quorum or if Parent
has not received proxies representing a sufficient number of shares of Parent Common Stock for the Parent Stockholder Approval, the approval of transactions that are anticipated to be entered into simultaneously herewith, and, if applicable, the
advisory vote required by Rule 14a-21(c) under the Exchange Act shall be the only matters which Parent shall propose to be acted on by Parent’s stockholders at the Stockholders Meeting unless otherwise
approved in writing by Buyer. 
 (iii) Subject to Section 7.02, the Parent Board shall (i) make the Board
Recommendation, (ii) include the Board Recommendation in the Proxy Statement and (iii) use reasonable best efforts to take, or cause to be taken, all lawful actions to solicit such approval of the Transactions and adoption of this
Agreement. 
 Section 7.04. Access to Information; Confidentiality. 

(a) Subject to applicable Law, upon reasonable advance notice to the Company, the Company shall (and Parent and Seller shall cause the Company,
the Company Subsidiaries and the officers, directors and agents of the Company and each Company Subsidiary to) afford Buyer’s officers and Buyer’s other authorized Representatives reasonable access, during normal business hours throughout
the Pre-Closing Period, under direct supervision of a designated employee of the Company, to its and the Company Subsidiaries’ respective officers, properties,

  
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books, Contracts and records; and shall furnish promptly to Buyer all financial, operating and other data and information as Buyer, through its officers, employees or agents, may reasonably
request; provided, that none of the Company, any Company Subsidiary or any Representative of the Company shall be required to provide such access to or to disclose such information where such access or disclosure would in the good faith
judgment of the Company (i) contravene any applicable Law, Contract of the Company or any Company Subsidiary or Order, (ii) reasonably be expected to violate or result in a loss or impairment of any attorney-client privilege, work product
privilege or Intellectual Property right, (iii) include any invasive environmental testing or sampling or (iv) materially interfere with the conduct of the business of the Company or any of the Company Subsidiaries. The Company shall (and
Parent and Seller shall cause the Company to) use commercially reasonable efforts to make appropriate substitute disclosure arrangements under circumstances in which the restrictions of the preceding sentence apply. 

(b) No information or knowledge obtained by Buyer pursuant to Section 7.02, this
Section 7.04 or otherwise under this Agreement shall affect or be deemed to affect or modify any representation, warranty, covenant or agreement made by Parent, Seller or the Company contained herein, or the conditions to
the obligations of the parties to consummate the Transactions in accordance with the terms and provisions hereof, or otherwise prejudice in any way the rights and remedies of Buyer hereunder, nor shall any such information, knowledge or
investigation be deemed to affect or modify Buyer’s reliance on the representations, warranties, covenants and agreements made by Parent, Seller and the Company in this Agreement. 

(c) Buyer acknowledges that all information provided to it or any of its Representatives by Parent, Seller, the Company or any of their
respective Representatives in connection with this Agreement and the consummation of the Transactions shall be deemed to be provided under, and shall be treated in accordance with, the Confidentiality Agreement. Effective upon the Closing, the
Confidentiality Agreement shall terminate with respect to all Proprietary Information (as defined therein) that relates to each of Velocity and Bolt. 

(d) From and after the Closing, Parent and Seller shall, and shall cause their Affiliates and their Affiliates’ officers, directors,
employees and agents (collectively, “Seller Affiliates”) to, (i) maintain the confidentiality of, (ii) not use, and (iii) not disclose to any Person, any confidential,
non-public or proprietary information of the Company or any of the Company Subsidiaries, except as expressly permitted by this Agreement or the Representative Side Letter or with the prior written consent of
Buyer, or subject to the following sentence, as may be required by Law; provided, that Parent, Seller and the Seller Affiliates shall not be subject to such obligation of confidentiality for information (x) that otherwise becomes
available to Parent, Seller or the Seller Affiliates after the Closing Date on a nonconfidential basis from a third party who is not, to Parent’s Knowledge, under an obligation of confidentiality to Buyer, the Company or any of their respective
Affiliates; or (y) that is or becomes generally available to the public without breach of this Agreement by Parent, Seller or the Seller Affiliates. If Parent, Seller or any Seller Affiliate shall be required by Law or legal process to disclose
any such information, Parent or Seller shall, or shall cause such Seller Affiliate to, provide Buyer with prompt written notice of each request so that Buyer may seek an appropriate protective order or other appropriate remedy, and Parent and Seller
shall, and shall cause such Seller Affiliate to, cooperate with Buyer to obtain a protective order or other remedy; provided that, in the event that a protective order or other remedy is not obtained, Parent, Seller or such Seller Affiliate
shall furnish only that portion of such information which, in the opinion of its counsel, Parent, Seller or such Seller Affiliate is legally compelled to disclose and shall exercise its best efforts to obtain reliable assurance that confidential
treatment will be accorded any such information so disclosed. 

  
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 (e) In the event that the Closing does not occur on or prior to December 31, 2017, Parent
and Seller shall each use their reasonable best efforts to collect from Bolt and Velocity prior to the Closing (i) an unaudited consolidated balance sheet of each of Bolt and Velocity as of December 31, 2017 and (ii) unaudited
consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows of each of Bolt and Velocity from January 1, 2017 through December 31, 2017. To the extent reasonably practicable, prior to the Closing,
Parent and Seller shall each use their reasonable best efforts to collect any and all other financial information with respect to Velocity and Bolt that will facilitate the preparation of the financial statements that Buyer is required to deliver in
accordance with the Representative Side Letter. 
 (f) For a period of six (6) years following the Closing Date, upon written request
delivered to a party, such other party shall, and shall cause its Affiliates to, afford the requesting party and its Representatives reasonable access during regular normal business hours to the properties, books and records (including the ability
to make copies of such books and records (at the expense of the party or parties requesting such books and records)) and employees of such other party, and the Affiliates of such other party with respect to the Business to the extent necessary to
prepare or defend any judicial or administrative proceeding related to the Business, or to enable the requesting party and its Representatives to satisfy its own and its Affiliates’ legal, compliance, financial reporting and tax preparation
obligations. Each of Parent and Seller agrees that, during such six (6) year period, it shall not, and shall not permit its Affiliates or Representatives to, destroy or otherwise dispose of any of the books and records relating to Velocity,
Bolt or the Business in their possession with respect to periods prior to the Closing unless Parent or Seller has given Buyer no less than forty-five (45) days’ prior written notice of such intended disposition and by offering to Buyer, at
Buyer’s expense, custody of such books and records as any of Parent, Seller or their respective Affiliates or Representatives may intend to destroy. Notwithstanding anything to the contrary set forth in this
Section 7.04(f), Parent and Seller shall have the right to destroy all or part of such books and records after the expiration of such period, or if earlier, upon the filing of a Certificate of Dissolution of Parent with the
Secretary of State of Delaware, by giving Buyer no less than forty-five (45) days’ prior written notice of such intended disposition and by offering to deliver to Buyer, at Buyer’s expense, custody of such books and records as any of
Parent, Seller or their respective Affiliates or Representatives may intend to destroy. 
 (g) For the avoidance of doubt, Buyer, the Company
and their respective Subsidiaries may use the “Actua” name in connection with any incidental or factual references in documents, materials and other references as required by applicable Law (including maintaining archives required by Law).

  
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 Section 7.05. Notice of Certain Events. During the
Pre-Closing Period, Seller, Parent and Buyer shall promptly notify the other in writing of: 
 (a)
any notice or other communication received by such party or any of its Subsidiaries from any Person alleging that the consent, approval, permission of or waiver from such party is or may be required in connection with the Transactions; 

(b) any notice or other communication received by such party or any of its Subsidiaries from any Governmental Authority in connection with the
Transactions; and 
 (c) any Stockholder Litigation; 

provided, that the failure to comply with this Section 7.05 shall not constitute a breach or noncompliance by such party for
determining the satisfaction of the conditions set forth in Article 8. 
 Section 7.06. Employee Benefit
Plan Matters. 
 (a) From and after the Closing Date, with respect to all employees of the Company or any Company Subsidiary at the
Closing (“Continuing Employees”), Buyer shall cause the service of each such Continuing Employee with the Company, the Company Subsidiaries and all of their respective predecessors to be recognized for purposes of eligibility to
participate, levels of benefits, vesting and benefit accrual (excluding benefit accrual under any defined benefit pension plans) under each employee benefit plan, program or arrangement of the Company, Buyer or any of their respective Affiliates
(collectively, the “Buyer Benefit Plans”) in which any Continuing Employee is or becomes eligible to participate to the extent such service was recognized under a comparable Company Employee Plan immediately prior to the Closing,
except to the extent such credit would result in a duplication of benefits. Additionally, each Continuing Employee shall be immediately eligible to participate, without any waiting time, in any and all Buyer Benefit Plans to the extent coverage
under such Buyer Benefit Plan replaces coverage under a comparable Company Employee Plan in which such Continuing Employee participated immediately before the replacement. 

(b) For a period of twelve (12) months immediately following the Closing Date, Buyer shall, or shall cause its Affiliates to, provide to
each Continuing Employee, while employed with Buyer or any of its Affiliates, with (i) the hourly wage or base salary and target bonus opportunity (excluding, for the avoidance of doubt, equity based compensation), in each case, that are no
less than those in effect for such Continuing Employee immediately prior to the Closing and (ii) employee benefits (other than participation in a defined benefit pension plan) that are at least as favorable in the aggregate to such Continuing
Employee as those provided to such Continuing Employee immediately prior to the Closing under the Company Employee Plans. 
 (c) Without
limiting the generality of Section 7.06(a), from and after the Closing Date, with respect to each Buyer Benefit Plan that is an “employee welfare benefit plan” as defined in Section 3(1) of ERISA in which any
Continuing Employee is or becomes eligible to participate, Buyer shall, or shall cause its Affiliates to, (i) waive all limitations as to pre-existing conditions, waiting periods, actively-at-work requirements, required physical examinations and other conditions and exclusions with respect to participation and coverage requirements applicable under such
Buyer Benefit Plan for such Continuing Employees and their eligible dependents to the same extent that such conditions, waiting periods, requirements and exclusions 

  
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would not have applied or would have been satisfied or waived under the corresponding Company Employee Plan in which such Continuing Employee (or eligible dependent) was a participant immediately
prior to the Closing and (ii) credit all co-payments, deductibles and other expenses paid by Continuing Employees and their eligible dependents under the corresponding Company Employee Plan in the plan
year in which their participation in such Buyer Benefit Plan begins for purposes of satisfying any deductible, co-payment, co-insurance and maximum out-of-pocket requirements under such Buyer Benefit Plan. 
 (d)
From and after the Closing Date, Buyer will honor, and will cause the Company and its Subsidiaries to honor, in accordance with their terms as in effect on the Closing Date, all existing employment, retention, incentive, change in control and
severance agreements between the Company or any Company Subsidiary and any Continuing Employee. 
 (e) Parent shall take all action that is
necessary with respect to the Parent Plan’s listed on Section 7.06(e) of the Seller Disclosure Schedules to cause each award or benefit under any such Parent Plan that is held by a Continuing Employee to vest in full
as of the Closing Date. Parent shall be solely responsible for all obligations with respect to such awards or benefits granted to Continuing Employees. 

(f) Buyer, Parent and Seller acknowledge and agree that all provisions contained in this Section 7.06 are included
for the sole benefit of the respective parties to this Agreement and shall not create any right in any other Person, including any right to continued employment or service with Buyer, the Company or any of their respective Affiliates. Without
limiting the generality of the foregoing, nothing in this Section 7.06 shall be deemed to (i) amend any Company Employee Plan or Buyer Benefit Plan or (ii) limit the right of or require Buyer, the Company or any
of their respective Affiliates to amend, merge or terminate any Company Employee Plan or Buyer Benefit Plan. 
 Section 7.07. State
Takeover Laws. If any “control share acquisition,” “business combination,” “fair price,” “moratorium” or other anti-takeover Law becomes or is deemed to be applicable to Parent, Seller, the Company, Buyer
or any of the Transactions, then each of Parent, Seller, the Company, Buyer and their respective Boards of Directors or similar governing body shall grant such approvals and take such actions as are necessary so that the Transactions may be
consummated as promptly as practicable on the terms contemplated hereby and otherwise act to render such anti-takeover Law inapplicable to the foregoing. 

Section 7.08. Obligations of Buyer. During the Pre-Closing Period: 

(a) Buyer shall not adopt or publicly propose a plan of complete or partial liquidation, restructuring, recapitalization or other
reorganization, or resolutions providing for or authorizing such a liquidation, dissolution, restructuring, recapitalization or other reorganization. 

(b) Buyer shall not, and shall not permit any of its Subsidiaries to, (i) enter, or agree or commit to entrance, into agreements with
respect to, or consummate, any mergers or business combinations, or any acquisition of any other Person or business or (ii) make, or agree or commit to make, loans, advances or capital contributions to, or investments in, any other Person, but
only if the actions described in clauses (i) and (ii) of this Section 7.08(b) would reasonably be expected to prevent, impede or delay the consummation of the Transactions. 

  
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 Section 7.09. Director and Officer Liability. 

(a) For six (6) years after the Closing, Buyer shall cause Velocity or Bolt, as applicable, to maintain officers’ and directors’
liability insurance in respect of acts or omissions occurring at or prior to the Closing covering each such person currently covered by Velocity’s or Bolt’s officers’ and directors’ liability insurance policy, as applicable, on
terms with respect to coverage and amount no less favorable than those of each such respective policy in effect on the date of this Agreement from carriers with comparable or better credit rating than Velocity’s and Bolt’s existing
carriers for each such respective policy; provided, that in no event shall Buyer, Velocity or Bolt be required to expend for such policies pursuant to this sentence an annual premium amount in excess of 300% of the amount per annum that
Velocity or Bolt, as applicable, paid in its last full fiscal year (the “Premium Cap”). The provisions of the immediately preceding sentence shall be deemed to have been satisfied if prepaid “tail” or “runoff”
policies have been obtained by Velocity or Bolt, as applicable, prior to the Closing, which policies provide such directors and officers with coverage for an aggregate period of six (6) years with respect to claims arising from facts or events
that occurred on or before the Closing, including in respect of the Transactions, and which it is hereby acknowledged by Buyer are permitted to be obtained by the Velocity or Bolt, as applicable, at any time prior to the Closing; provided,
that the aggregate premium for such “tail” or “runoff” policies shall not exceed the Premium Cap; and provided, further, that at the request of Buyer, Velocity or Bolt, as applicable, shall obtain the prepaid
“tail” or “runoff” policies described in this sentence immediately prior to the Closing. If such prepaid policies have been obtained prior to the Closing, Buyer shall cause Velocity or Bolt, as applicable, to maintain such
policies in full force and effect for their full term, and continue to honor the obligations thereunder. 
 (b) From and after the Closing,
the Company shall (and Buyer shall cause the Company or its Affiliates to) fulfill and honor or cause to be fulfilled and honored in all respects the obligations of Velocity and Bolt pursuant to (i) each indemnification, exculpation or expense
reimbursement or advance agreement Made Available to Buyer in effect between Velocity and Bolt and any individual who at the Closing is, or at any time prior to the Closing was, a director or officer of, or serving as a director or officer of
another Person at the request of, Velocity or Bolt (each, a “D&O Indemnified Party,” and each such indemnification agreement that has been Made Available to Buyer, a “D&O Indemnification Agreement”));
and (ii) any indemnification or expense reimbursement or advancement provision and any exculpation provision set forth in the certificate of incorporation or bylaws or other similar organizational documents of Velocity and Bolt as in effect on
the date of this Agreement, in each case, in accordance with the terms and conditions therein; provided, that any D&O Indemnified Party to whom expenses are advanced agrees to return any such funds to which a court of competent
jurisdiction has determined in a final, nonappealable judgment such D&O Indemnified Party is not ultimately entitled. For a period of six (6) years from and after the Closing, Buyer and the Company shall not, and shall cause its Affiliates
not to, amend, repeal or otherwise modify the certificate of incorporation and bylaws (and other similar organizational documents) of Velocity and Bolt in any manner that would adversely affect the rights thereunder of any D&O Indemnified Party;
provided, that all rights to indemnification in respect of any actual or threatened claim, action, 

  
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suit, proceeding or investigation, whether civil, criminal, administrative or investigative (an “Action”), pending or asserted made within such period shall continue until the
disposition or resolution of such Action. Buyer and the Company shall cause, and shall cause their Affiliates to cause, the D&O Indemnification Agreements to continue in full force and effect in accordance with their terms following the Closing.
No D&O Indemnified Party shall settle, compromise or consent to the entry of any judgment in any actual or threatened claim in respect of which indemnification has been sought by such D&O Indemnified Party hereunder without the prior written
consent of Buyer, such consent not to be unreasonably withheld, conditioned or delayed. 
 (c) From and after the Closing, each of Buyer and
the Company shall, and shall cause their Affiliates to, to the fullest extent permitted under applicable Law, indemnify and hold harmless each D&O Indemnified Party against any documented, out-of-pocket reasonable costs or expenses (including advancing reasonable attorneys’ fees and expenses in advance of the final disposition of any claim, suit, proceeding or investigation to each D&O
Indemnified Party to the fullest extent permitted by Law), judgments, fines, losses, claims, damages, liabilities and amounts paid in settlement (“D&O Losses”) actually incurred in connection with any Action, arising out of,
relating to or in connection with any action or omission occurring or alleged to have occurred whether before, at or after the Closing in connection with such D&O Indemnified Party’s service as a director or officer of Velocity and Bolt (or
acts or omissions in connection with such D&O Indemnified Party’s service as officer, director, member, trustee or other fiduciary in any other entity if such services were at the request, at the direction or for the benefit of Velocity or
Bolt). In the event of any such Action, Buyer and the Company shall cooperate with the D&O Indemnified Party in the defense of any such Action. Notwithstanding anything to the contrary in this
Section 7.09, nothing contained in this Section 7.09(c) shall protect or be deemed to protect a D&O Indemnified Party against or entitle or be deemed to entitle a D&O Indemnified Party to
indemnification under this Section 7.09(c) in respect of any D&O Loss to which such D&O Indemnified Party would otherwise be subject by reason of fraud, bad faith, willful misconduct or willful violation of Law.

 (d) Buyer shall pay or shall cause to be paid all documented,
out-of-pocket reasonable expenses, including reasonable attorneys’ fees, that may be incurred by any D&O Indemnified Party in enforcing the indemnity,
advancement and other obligations provided in this Section 7.09 in accordance with the terms and conditions set forth in Section 7.09. 

(e) If either of Buyer or the Company or any of its successors or assigns (i) consolidates with or merges into any other Person and shall
not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, proper provision shall be
made so that a creditworthy entity assumes or an adequate credit support mechanism supports the obligations set forth in this Section 7.09. 

(f) The provisions of this Section 7.09 are (i) intended to be for the benefit of, and shall be enforceable by,
each D&O Indemnified Party, his or her heirs and his or her representatives and (ii) in addition to, and not in substitution for, any other rights to indemnification or contribution that any such individual may have under the articles of
organization or bylaws, by contract or otherwise. The provisions of this Section 7.09 shall survive the Closing and shall thereafter not be terminated or amended in any manner so as to adversely affect any D&O
Indemnified Party. 

  
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 (g) For the avoidance of doubt, Buyer shall not have any obligations in respect of Bolt under
this Section 7.09 in the event that a Bolt Sale is consummated prior to the Closing. 
 Section 7.10.
Efforts 
 (a) Subject to the terms and conditions set forth in this Agreement, each of the parties hereto shall use its reasonable
best efforts to take, or cause to be taken, the actions, and to do, or cause to be done, and to assist and cooperate with the other parties in doing, the things necessary, proper or advisable under applicable Laws and regulations or otherwise to
consummate and make effective the Transactions as promptly as practicable, including using reasonable best efforts to (i) obtain the necessary actions or non-actions, waivers, consents, clearances,
approvals, and expirations or terminations of waiting periods from Governmental Authorities and make the necessary registrations and filings and take the steps as may be necessary to obtain an approval, clearance or waiver from, or to avoid an
action or proceeding by, any Governmental Authority, including, without limitation, in connection with any Regulatory Law (all of the foregoing, collectively, the “Governmental Consents”), and (ii) obtain all necessary
consents, approvals or waivers from, and deliver notices to, third parties. The parties acknowledge and agree that their obligations to use their reasonable best efforts as set forth in this Section 7.10(a) shall include
those obligations set forth on the Efforts Schedule. 
 (b) Subject to the terms and conditions herein provided and without limiting
the foregoing, Parent, Seller and Buyer shall cooperate with each other in (i) determining whether any filings are required to be made with, or Governmental Consents are required to be obtained from, any Governmental Authorities (including in
any foreign jurisdiction in which the Company or any Company Subsidiaries are operating any business) and (ii) to the extent not made prior to the date hereof, timely making or causing to be made all such applications and filings as reasonably
determined by Parent, Seller and Buyer as promptly as practicable (and in any event within ten (10) Business Days after the date hereof with respect to filings or submissions required under the HSR Act). Each party shall use reasonable best
efforts to supply as promptly as practicable such information, documentation, other material or testimony that may be requested, and the provision of which is required, by any Governmental Authority, including by complying as soon as reasonably
practicable with any request under or with respect to the HSR Act, any other Governmental Consent and any such other applicable Laws for additional information, documents or other materials received by Buyer or any of its Subsidiaries, on the one
hand, or Parent or Seller or any of their respective Subsidiaries, on the other hand, from the FTC or the DOJ, or any other Governmental Authority in connection with such applications or filings or the Transactions. 

(c) Notwithstanding anything to the contrary set forth herein, Buyer will not be required to propose, negotiate, commit to or effect, by
agreement, consent decree, hold separate order, trust or otherwise, (i) the sale, divestiture or disposition of such assets, businesses, services, products or product lines of Buyer or the Company (or any of their respective Subsidiaries or
Affiliates) or behavioral limitations, conduct restrictions or commitments with respect to any such assets, businesses, services, products or product lines of Buyer or the 

  
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Company (or any of their respective Subsidiaries or Affiliates), (ii) the creation or termination of relationships, ventures, contractual rights or obligations of the Company or Buyer or their
respective Subsidiaries or Affiliates and (iii) any other actions that would limit the freedom of action of Buyer, the Company or any of their respective Subsidiaries or Affiliates with respect to, or its ability to retain, one or more of its
or its Subsidiaries’ (including the Company’s) or Affiliates’ assets, businesses, services, products or product lines, or, in the event that any litigation is instituted which could have the effect of preventing the consummation of
the Transactions, defend any such litigation. Neither Parent nor Seller nor any of their Subsidiaries shall, without Buyer’s prior written consent, discuss or commit to any extension of any waiting period under any Law or any agreement not to
consummate the Transactions or otherwise take or commit to take any action that limits Buyer’s freedom of action with respect to, or Buyer’s ability to retain, any of the businesses, services, products or product lines of the Company (or
any of its Subsidiaries or Affiliates) or otherwise receive the full benefits of this Agreement. None of Parent, Seller, Buyer or the Company shall be required to take any action pursuant to this Section 7.10 unless it is
expressly conditioned on the effectiveness of the Transactions. 
 (d) Without limiting the foregoing and subject to applicable legal
limitations and the instructions of any Governmental Authority, each of Parent and Seller, on the one hand, and Buyer, on the other hand, agrees (i) to cooperate and consult with each other in connection with the making of all registrations,
filings, notifications, communications, submissions and any other material actions pursuant to this Section 7.10, (ii) to furnish to the other such necessary information and assistance as the other may reasonably request in
connection with its preparation of any notifications or filings, which is not otherwise legally privileged or considered commercially sensitive, (iii) to keep each other apprised of the status of matters relating to the completion of the
Transactions, including promptly furnishing the other with copies of notices or other communications received by such party from, or given by such party to, any third party and/or any Governmental Authority with respect to the Transactions,
(iv) to permit the other party to review and to incorporate the other party’s reasonable comments in any material communication to be given by it to any Governmental Authority with respect to obtaining the necessary approvals for the
Transactions, and (v) not to participate in any meeting or discussion in person or by telephone expected to address substantive matters related to the Transactions with any Governmental Authority in connection with the Transactions unless, to
the extent not prohibited by such Governmental Authority, it gives the other party reasonable notice thereof and the opportunity to attend and observe. To the extent the parties shall share, in their sole discretion, information protected under the
attorney-client privilege, work product doctrine, joint defense privilege or any other privilege pursuant to this Section 7.10, the parties shall take reasonable efforts to share such information in a manner so as to
preserve any applicable privilege. Buyer, Parent and Seller may, as each deems advisable and necessary, reasonably designate any competitively or commercially sensitive material provided to the other under this
Section 7.10(d) as “Antitrust Counsel Only Material.” Such materials and the information contained therein shall be given only to the outside antitrust counsel of the recipient and will not be disclosed by such
outside counsel to employees, officers or directors of the recipient unless express permission is obtained in advance from the source of the materials (Buyer, or Parent or Seller, as the case may be) or its legal counsel. 

  
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 (e) For purposes of this Agreement, “Regulatory Law” means the Sherman Act, the
Clayton Act, the HSR Act, the Federal Trade Commission Act, the EC Merger Regulation, and all other federal, state, foreign, multinational or supranational statutes, rules, regulations, orders, decrees, administrative and judicial doctrines and
other Laws, including, without limitation, any antitrust, competition or trade regulation Laws, that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint of trade or lessening
competition through merger or acquisition and including any Laws that relate to foreign investments. 
 Section 7.11. Stockholder
Litigation. Parent and Seller shall as promptly as reasonably practicable notify Buyer in writing of, and shall keep Buyer updated about all material developments in, any Stockholder Litigation. No compromise or settlement of any Stockholder
Litigation shall be agreed to by Parent or Seller or any of their respective Affiliates without the prior written consent of Buyer (such consent not to be unreasonably withheld, conditioned or delayed). 

Section 7.12. Public Announcements. The parties hereto agree that the initial press release(s) to be issued with respect to the
Transactions shall be in a form mutually agreed to by the parties hereto. Thereafter, each of Buyer, Seller and Parent agree that no public release or announcement concerning the Transactions shall be issued by any such party or its Subsidiaries
without the prior written consent (including via email) of the other parties (which consent shall not be unreasonably withheld, conditioned or delayed), except as may be required by applicable Laws or the rules or regulations of NASDAQ or any other
regulatory or governmental body to which the relevant party is subject or submits, in which case the party required to make the release or announcement shall use its reasonable best efforts to allow the other parties reasonable time to comment on
such release or announcement in advance of such issuance; provided, however, that the foregoing shall not restrict or prohibit disclosures made to direct and indirect investors (or potential investors) of the Sponsors or their Affiliates in
connection with normal fund raising and related marketing or informational or reporting activities of the Sponsors or their Affiliates so long as such disclosure to investors is covered by a confidentiality agreement or other confidentiality
obligation. Notwithstanding the foregoing, the restrictions set forth in this Section 7.12 shall not apply to any release or announcement made or proposed to be made by Parent in connection with and related to a Superior Proposal or a
Change in Recommendation. 
 Section 7.13. Debt Financing. 

(a) Buyer shall use its reasonable best efforts to take, or cause to be taken, all actions and do, or cause to be done, as promptly as
reasonably possible, all things necessary, proper or advisable to arrange and obtain the Debt Financing on the terms and conditions described in the Debt Commitment Letter (including such terms and conditions may be amended, modified or waived in
accordance with Section 7.13(b)), including using reasonable best efforts to: (i) maintain in effect the Debt Commitment Letter, (ii) satisfy, or cause to be satisfied, on a timely basis all conditions within its
control to obtain the Financing set forth therein (or obtain a waiver thereof), (iii) negotiate and enter into definitive agreements with respect thereto on the terms and conditions contemplated by the Debt Commitment Letter (including such terms
and conditions may be amended, modified or waived in accordance with Section 7.13(b)) or on other terms that are acceptable to the Financing Sources and Buyer, (iv) pay (or cause to be paid) all commitment fees or
other fees required by the Commitment Letters to be paid as they become due and (v) consummate the Financing at or prior to the time the Closing is required to occur pursuant to Section 2.01. 

 

  
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 (b) Buyer shall (x) at the request of the Company, use its reasonable best efforts to keep
Seller reasonably informed of the status of its efforts to arrange the Debt Financing and (y) give Seller reasonably prompt written notice (i) of any material breach or default by any party to the Debt Commitment Letter of which Buyer has
knowledge, (ii) of the receipt of any written notice or other written communication from any Person with respect to any (A) actual or potential material breach, default, termination or repudiation by any party to the Debt Commitment Letter
or (B) material dispute or disagreement between or among any parties to any Debt Commitment Letter (but excluding, for the avoidance of doubt, any ordinary course negotiations with respect to the terms of the Financing), solely to the extent
such disagreement or dispute relates to the termination of, or the satisfaction of the conditions to, the obligation of the Financing Sources party thereto to fund their commitments thereunder, (iii) if and when Buyer has knowledge of the
occurrence of any event or development that would reasonably be expected to have a material and adverse impact on the ability of Buyer to obtain any portion of the Financing contemplated by any Commitment Letter and (iv) of any expiration or
termination of any Commitment Letter or other document related to the Debt Financing. Without limiting the foregoing, Buyer shall (x) at the request of the Company, keep Seller informed on a reasonably current basis in reasonable detail of
material developments concerning the Financing and (y) provide to Seller executed copies of the definitive documents related to the Financing (provided, that any fee letters or other agreements that are confidential by their terms, may
be redacted in a manner as required therein so as not to disclose such terms that are so confidential) and copies of any of the written notices or communications described in the preceding sentence; provided, however, that nothing in
this sentence or the immediately preceding sentence shall require Buyer to disclose any information that is subject to attorney-client privilege or the disclosure of which would result in the breach of Buyer’s confidentiality obligations set
forth in any of the Commitment Letters. If any portion of the Debt Financing becomes unavailable on the terms and conditions contemplated in the Debt Commitment Letter, Buyer shall promptly notify Seller and use its reasonable best efforts to
arrange to obtain alternative financing, including from alternative sources, on terms no less favorable to Buyer than those set forth in the Debt Commitment Letter, in an amount sufficient to replace any unavailable portion of the Debt Financing
(“Alternative Financing”) as promptly as practicable following the occurrence of such event and the provisions of this Section 7.13 shall be applicable to the Alternative Financing; provided, that
such Alternative Financing shall not be subject to any additional or modified conditions or other contingencies to the funding of the Financing than those contained in the Commitment Letter. For the purposes of this
Section 7.13, all references to the Financing shall be deemed to include such Alternative Financing and all references to the Debt Commitment Letter shall include the applicable documents for the Alternative Financing.
Buyer shall promptly provide a true, correct and complete copy of each alternative financing commitment letter to Seller. Buyer shall comply in all material respects with each Commitment Letter and each definitive agreement with respect thereto
(collectively, with the Debt Commitment Letter, the “Debt Documents”). Buyer shall not permit, without the prior written consent of Seller (not to be unreasonably withheld or delayed), any amendment or modification to be made to, or
any waiver of any provision or remedy under, the Debt Commitment Letter that (w) reduces the aggregate amount of cash proceeds available from the Debt Financing below the amount necessary to finance the transactions to be consummated on the
Closing Date (unless there is a 

  
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corresponding increase in the Equity Financing), (x) imposes any new or additional conditions, or otherwise amend, modify or expand any condition, to the funding of any portion of the Financing,
(y) would reasonably be expected to delay or prevent the Closing or the funding of the Financing or (z) adversely impacts the ability of Buyer to enforce its rights against any other party to any Debt Document or the ability of Buyer to
consummate the Transactions; provided that, notwithstanding the foregoing, Buyer shall be permitted to amend the Debt Commitment Letter to add lenders, agents, co-agents, arrangers, bookrunners,
managers or other roles under the Debt Commitment Letter. Buyer shall provide notice to Seller promptly upon receiving the Financing. Notwithstanding anything to the contrary in this Agreement, compliance by Buyer with this
Section 7.13 shall not relieve Buyer of its obligation to consummate the Transactions, whether or not the Financing or Alternative Financing is available. 

(c) Prior to the Closing, Parent and Seller shall cause the Company to, and the Company shall, and shall cause the Company Subsidiaries and
their respective directors, officers, employees, consultants and advisors, including legal and accounting advisors, to, use reasonable best efforts to cooperate with Buyer, at Buyer’s sole cost and expense, as reasonably requested by Buyer in
connection with the Financing, including the following: (i) causing the appropriate senior officers of the Company and the Company Subsidiaries to participate in a reasonable number of meetings, presentations and due diligence sessions (or
other sessions with prospective lenders and investors); (ii) assisting with the preparation of appropriate and customary materials for lender presentations, private placement memoranda, bank information memoranda, prospectuses, other marketing
materials and similar documents reasonably required in connection with the Financing; (iii) entering into (on the Closing Date) and assisting Buyer in the negotiation, preparation, execution and delivery of the definitive agreements for the
Debt Financing and closing deliverables related thereto (including corporate resolutions, organizational documents, certificates, a certificate of the Company’s chief financial officer with respect to the solvency of the Company and the Company
Subsidiaries on a consolidated basis, opinions of counsel (including backup officer’s certificates in support thereof) and other documents related thereto) and facilitating the creation and perfection of security interests, in each case to
become effective at or after the Closing; (iv) furnishing to Buyer and its Financing Sources, as promptly as reasonably practicable, the Required Financial Information that is at the time of delivery, and continues to be at all times
thereafter, Compliant; (v) reasonably assisting Buyer in Buyer’s preparation of pro forma financial statements and financial information as may be reasonably requested by Buyer or required in connection with the Debt Financing;
(vi) taking all actions reasonably requested by Buyer and necessary to (A) permit the prospective lenders involved in the Debt Financing to evaluate the Company’s and the Company Subsidiaries’ current assets, cash management and
accounting systems, policies and procedures relating thereto for the purpose of establishing collateral arrangements to the extent customary and reasonable, (B) at the Closing, establish bank and other accounts and blocked account agreements
and lock box arrangements in connection with the foregoing; (vii) if requested by Buyer, using commercially reasonable efforts to obtain required consents, customary surveys, legal opinions and title insurance as necessary and customary for
financings similar to the Debt Financing; (viii) furnishing all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations no later than
three (3) Business Days prior to the Closing Date, as has been reasonably requested in writing by Buyer at least ten (10) Business Days prior to the Closing Date; (ix) except as may be prohibited by contract or required to preserve
legal privilege, 

  
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providing due diligence materials to potential financing sources in connection with the Debt Financing; and (x) taking such other actions as are reasonably requested by Buyer to facilitate
the satisfaction on a timely basis of all conditions to the Debt Financing that are within the control of the Company and the Company Subsidiaries; provided, that, notwithstanding anything in this Agreement to the contrary, until the Closing
occurs, none of the Company or its directors, officers, managers, members, employees, equityholders, representatives and Affiliates shall (1) be required to pay any commitment or other similar fee, (2) be required to incur any other
liability in connection with the Financing contemplated by the Debt Commitment Letter, (3) be required to pass resolutions or consents, approve or authorize the execution of, or execute any document, agreement, certificate or instrument or take
any other corporate action with respect to the Financing that is not contingent on the Closing or that would be effective prior to the Closing Date or (4) be required to take any action the extent it would reasonably be expected to
(A) conflict with or violate their respective organizational documents or any requirement of Law or result in the material contravention of, or that would reasonably be expected to result in a material violation or breach of, or default under,
any contract of the Company or any of the Company Subsidiaries or (B) disclose any information that is subject to attorney-client privilege or the disclosure of which would result in the breach of any confidentiality obligations. Buyer shall
indemnify and hold harmless Parent, Seller, the Company and each of their and their Subsidiaries’ directors, officers, managers, members, employees, equityholders, representatives, advisors and Affiliates from and against any and all
liabilities or losses suffered or incurred by them in connection with the arrangement of the Financing, any Alternative Financing and any information utilized in connection therewith (other than information provided by the Company or the Company
Subsidiaries expressly for use in connection therewith), other than any such liabilities or losses arising as a result of any indemnified party’s gross negligence or willful misconduct. Additionally, Buyer shall, promptly upon written request
by the Company, reimburse the Company for all reasonable and documented out-of-pocket costs, fees and expenses (including attorneys’ fees and expenses) to the
extent such costs, fees and expenses are incurred by the Company in connection with it complying with the obligations under this Section 7.13. 

Section 7.14. Matters Prior to a Bolt Sale. 

(a) Prior to Closing. Buyer acknowledges and agrees that Parent and Seller have commenced or intend to commence, prior to the Closing,
an investment bank-led process to explore a Bolt Sale (such process, the “Bolt Process”) and, in connection therewith, Seller (either directly or through the Company, Bolt and/or such
investment bank) may, from the date hereof until the Closing, (i) solicit proposals for a Bolt Sale, (ii) engage in negotiations and discussions with one or more third parties with respect to a Bolt Sale, (iii) furnish information
concerning Bolt to third parties in response to proposals or inquiries for a Bolt Sale, (iv) subject to the second to last sentence of this Section 7.14(a) only, enter into any definitive agreement with respect to any
Bolt Sale that would result in Bolt Proceeds payable in cash in excess of the Threshold Bolt Proceeds and (v) consummate any such Bolt Sale. The Bolt Process shall be conducted in accordance with the policies set forth on the Bolt
Schedule (the “Bolt Policies and Procedures”). Notwithstanding the foregoing, none of Parent, Seller or any of their Subsidiaries shall enter into a definitive agreement with respect to a Bolt Sale without the prior written
consent of Buyer if such agreement would (w) require the Company or any of its Affiliates (other than Bolt) to agree to any operating restrictions applicable to the Company or any of its Affiliates

  
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(other than Bolt) after the Closing (other than customary confidentiality and/or employee non-solicitation restrictions), (x) require the Company or any of
its Affiliates (other than Bolt) to agree to any recourse after the Closing in excess of an escrow amount, holdback or similar amount (other than with respect to customary indemnity obligations relating to performance of customary covenants), or
(y) provide for Bolt to be sold for a price that is payable in consideration other than cash or that, in the good faith judgment of Buyer, would cause the Bolt Proceeds with respect to the Bolt Sale to be less than zero. Prior to the Closing,
Parent and Seller shall keep Buyer reasonably informed of any material developments and events relating to the Bolt Process and any Bolt Sale and shall reasonably consult with Buyer with respect to the terms and conditions of any Bolt Sale prior to
entering into a definitive agreement with respect to such Bolt Sale. 
 (b) After Closing. From and after the Closing until the Bolt
Sale Deadline (subject to Section 7.04(d) and any agreements binding on Buyer or any of its Affiliates with respect to Bolt), Buyer or its Affiliates shall keep Seller reasonably informed on a current basis of the status,
details and progress of any material developments and events relating to the Bolt Process and any Bolt Sale and shall reasonably promptly provide to Seller information received by Buyer or any of its Affiliates relating to a potential Bolt Sale,
including copies of any marketing or informational materials, current interim drafts of any Bolt Sale Agreement, and shall provide Seller reasonable time to review such documents. From and after the Closing until the later of (i) the Bolt Sale
Deadline and (ii) the consummation of the Bolt Sale, if a Bolt Sale Agreement is executed prior to the Bolt Sale Deadline, (A) Buyer shall, and shall cause its Affiliates to, use commercially reasonable efforts within its control to cause
Bolt to be operated substantially in the ordinary course of business consistent with past practice, and (B) except in connection with a Bolt Sale Agreement or with the consent of Seller, shall not sell or transfer any of the Bolt Interest to
third parties or pledge, dispose of, mortgage or subject to any Lien (in each case other than Permitted Liens) any of the Bolt Interest. From and after the Closing, Buyer or its Affiliates shall conduct the Bolt Process in accordance with the Bolt
Policies and Procedures, including, without limitation, (i) consulting with and taking into account the advice of the investment bankers working on the Bolt Process prior to the date hereof, (ii) soliciting proposals for a Bolt Sale,
(iii) engaging in good faith negotiations and discussions with one or more third parties, if applicable, with respect to a Bolt Sale, (iv) promptly furnishing information concerning Bolt to third parties, if applicable, in response to
proposals or inquiries for a Bolt Sale, (v) using good faith efforts to negotiate and enter into any definitive agreement with respect to any Bolt Sale and (vi) using good faith efforts to consummate a Bolt Sale as promptly as reasonably
practicable. Buyer shall reasonably consult with Seller with respect to the Bolt Process and the terms and conditions of any Bolt Sale prior to entering into a definitive agreement with respect to such Bolt Sale, in each case in accordance with and
subject to the Bolt Policies and Procedures. Parent and Seller acknowledge that the sole obligations of Buyer to Parent and Seller with respect to the conduct of the Bolt Process and the Bolt Sale are those set forth in this
Section 7.14(b) and in the Bolt Policies and Procedures and Buyer shall have no other obligations to Parent and Seller, express or implied, with respect to the conduct of the Bolt Process and the Bolt Sale; it being
understood that nothing in this sentence is intended to affect the rights of Seller under Sections 2.03 and 2.04. 

  
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 (c) Contracts. Except as set forth on Section 7.14(c) of the
Seller Disclosure Schedules and except as set forth in the Bolt Sale Agreement, if a Bolt Sale is completed prior to the Closing, effective at the Closing, all Contracts, including all obligations to provide goods, services or other benefits,
between the Company, any of its Subsidiaries (other than Bolt or any of its Subsidiaries) or any of their respective directors, officers, managers, partners or employees, on the one hand, and Bolt, any of its Subsidiaries or any of their respective
directors, officers, managers, partners or employees, on the other hand, shall be terminated without any party having any continuing obligation or Liability to the other; in each case such termination shall be in form and substance reasonably
satisfactory to Buyer. 
 (d) Indebtedness and Other Matters. Except as set forth on Section 7.14(d) of the
Seller Disclosure Schedules, if a Bolt Sale is completed prior to the Closing, following completion thereof and prior to the Closing Date, any Indebtedness and all payables and receivables between the Company, any of its Subsidiaries (other than
Bolt Holdings or any of its Subsidiaries) or any of their respective directors, officers, managers, partners or employees, on the one hand, and Bolt Holdings, any of its Subsidiaries or any of their respective directors, officers, managers, partners
or employees, on the other hand, shall be settled in full or otherwise discharged so that there is no further Liability by any party thereto to any party thereto. If a Bolt Sale is not completed prior to the Closing, then any debt securities or
other instruments evidencing Indebtedness of Bolt Holdings or any of its Subsidiaries that is incurred in accordance with Section 7.01(b)(vi) shall be assigned by Parent or its Subsidiaries to the Company for no
consideration prior to the Closing. 
 (e) Corporate Matters. Prior to the Closing, the Company shall use its reasonable best efforts
(and Parent and Seller shall cause the Company to use its reasonable best efforts) to cause Bolt Holdings and certain Subsidiaries of Bolt to take all reasonable steps to prepare, execute and deliver to all appropriate Governmental Authorities all
notices, applications, filings, supporting information and documents and any amendments to any of the foregoing necessary to cause each of the Persons listed on Section 3.07(a) of the Seller Disclosure Schedules to be in
good standing in each jurisdiction referenced on Section 3.07(a) of the Seller Disclosure Schedule. 

Section 7.15. Matters Following a Bolt Sale. 

(a) Third Party Claims. Notwithstanding anything to the contrary in the Bolt Sale Agreement, following the Closing, Buyer or its
Affiliates shall control any third party claims relating to or arising under the Bolt Sale Agreement and shall conduct such claims diligently and in good faith, and any reasonable
out-of-pocket costs, fees or expenses incurred by Buyer or its Affiliates in connection therewith shall be included in Bolt Sale Expenses. 

(b) Administration. Following the Closing: 

(i) Reasonably promptly (but in any event within five (5) Business Days) following the receipt of any Bolt Proceeds until the later of
(A) the Bolt Sale Deadline and (B) the consummation of the Bolt Sale, if a Bolt Sale Agreement is executed prior to the Bolt Sale Deadline, Buyer shall deliver or cause to be delivered to Seller its good faith written calculation of the
Bolt Proceeds (the “Bolt Payment Statement”), including the Bolt Payment Amount and Bolt Proceeds Post-Closing Reduction Amount, if any, with respect to such payment. Such Bolt Payment Statement shall be accompanied by Buyer’s
calculation in reasonable detail of the components of the Bolt Payment Amount and the Bolt Proceeds Post-Closing Reduction Amount and reasonable supporting documentation. 

  
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 (ii) Following the final determination of the Bolt Payment Amount with respect to any Bolt
Payment Statement in accordance with Section 7.15(b)(iii) to Section 7.15(b)(vi) below, as applicable, if any Bolt Payment Amount is due to Seller in accordance with such Bolt Payment Statement as
so finally determined, Buyer shall promptly (but in any event within five (5) Business Days) cause all amounts to be paid to Seller under such Bolt Payment Statement to be delivered to Seller by wire transfer of immediately available funds to
an account or accounts designated in writing by Seller. 
 (iii) Within thirty (30) days after receipt of a Bolt Payment Statement,
Seller shall deliver to Buyer a notice specifying whether Seller agrees with (a “Notice of Agreement”) or objects to (a “Notice of Objection”) such Bolt Payment Statement. During such thirty (30) day period,
Buyer and its Affiliates shall cooperate with and permit Seller and any accountant or advisor retained by Seller access upon reasonable advance notice and during normal business hours to such records and personnel as may be reasonably necessary to
verify the accuracy of the Bolt Payment Statement and the amounts underlying the calculation of the Bolt Payment Amount; provided, that no such cooperation and permission shall be required to the extent that it would require Buyer or any of
its Affiliates to take any action that in the good faith judgment of Buyer unreasonably or materially interferes with the ongoing business or operations of Buyer or its Affiliates. 

(iv) If Seller delivers a Notice of Agreement, then any Bolt Payment Amount shall be due and payable by or on behalf of Buyer to Seller in
accordance with the procedures set forth in Section 7.15(b)(ii). If Seller does not deliver either a Notice of Objection or a Notice of Agreement within such thirty (30) day period, then Seller shall be deemed to have
delivered a Notice of Agreement with respect to such Bolt Payment Statement at the end of such period and Buyer’s calculation set forth in such Bolt Payment Statement shall be final, binding and conclusive on the parties hereto. 

(v) If Seller delivers a Notice of Objection to Buyer within such thirty (30) day period, such Notice of Objection shall contain
Seller’s calculation of the Bolt Proceeds, including the Bolt Payment Amount and Bolt Proceeds Post-Closing Reduction Amount, if any, included in such calculation. Such Notice of Objection must also be accompanied by a description in reasonable
detail of each of the objections to the calculations reflected in the Notice of Objection (collectively, the “Objections”). 

(vi) If Buyer does not agree with any of the Objections, and if Buyer or its Affiliates and Seller are not able to resolve such disagreement
within thirty (30) days after Buyer’s receipt of the Notice of Objection, the Objections that are in dispute shall be submitted to Deloitte & Touche LLP, or, if such firm is unable to serve in such capacity, to such other
internationally recognized independent accounting firm reasonably agreed to by or on behalf of Buyer and Seller (the “Accounting Firm”). Following the appointment of the Accounting Firm, Buyer or its Affiliates and Parent and Seller
shall promptly provide the Accounting Firm with (i) a copy of this Agreement, (ii) the applicable Bolt Payment Statement and supporting detail provided by or on behalf of Buyer in making its determination of the Bolt Payment Amount, (iii)

  
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the Notice of Objections and related supporting detail accompanying such Notice of Objections and the Objections set forth therein prepared by Seller, and (iv) any information reasonably
requested by the Accounting Firm as necessary or appropriate in resolving such dispute. Such Accounting Firm shall, within thirty (30) Business Days of such submission, resolve any differences between Buyer and Seller and such resolution shall,
in the absence of manifest error, be final, binding and conclusive upon the parties hereto; provided, that the Accounting Firm shall not be permitted or authorized to determine an amount of the Bolt Payment Amount that is outside of the range
of the Bolt Payment Amount proposed by or on behalf of Buyer in the Bolt Payment Statement and Seller in the Notice of Objection. The costs, fees and expenses of such Accounting Firm shall be borne equally by Buyer or its Affiliates, on the one
hand, and Parent and Seller, on the other hand, and the portion of the costs, fees and expenses of the Accounting Firm borne by Parent and Seller shall be considered Bolt Sale Expenses. Upon such resolution, any Bolt Payment Amount shall be due and
payable by Buyer to Seller shall be paid to Seller in accordance with the procedures set forth in Section 7.15(b)(ii). 

(vii) Buyer, Parent and Seller acknowledge and agree that if the Bolt Sale includes any deferred cash consideration (including any escrow or
holdback amount), any payment of Deferred Bolt Proceeds shall be delayed until the amount of such deferred cash consideration is actually received by Buyer or any of its Affiliates. 

Section 7.16. Director Resignations. Prior to the Closing, the Company shall, and Parent and Seller shall cause the Company and
the Company Subsidiaries to, deliver to Buyer written resignations executed by each of the directors, managers and officers of the Company and Velocity as well as each representative of Parent or its Subsidiaries (other than Bolt) on the board of
directors or managers of Bolt requested by Buyer no later than five (5) Business Days prior to the Closing Date, which resignations shall be effective at the Closing. 

  
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 Section 7.17. Release. Effective upon the Closing, and except as set forth in the
final sentence of this Section 7.17, each of Parent and Seller, on behalf of itself and its Subsidiaries (other than the Company and the Company Subsidiaries), hereby unconditionally and irrevocably waives, releases and
forever discharges the Company and each of the Company Subsidiaries and their respective current and former directors, managers, officers, employees, agents, legal representatives, predecessors, successors, assigns, equityholders, partners, members,
insurers, and Affiliates (the “Released Parties”) from any and all Liabilities of any kind or nature whatsoever, in each case whether absolute or contingent, liquidated or unliquidated, known or unknown, and Parent shall not, and
shall not permit any of its Subsidiaries to, seek to recover any amounts in connection therewith or thereunder from such Released Parties. Each of Parent and Seller understands that this is a full and final release of all claims, demands, causes of
action and Liabilities of any nature whatsoever, whether or not known, suspected or claimed, that could have been asserted in any legal or equitable proceeding against the Released Parties, except as expressly set forth in this
Section 7.17. Parent acknowledges and agrees that it is not aware of any claim by it or any of its Subsidiaries other than the claims that are waived, released and forever discharged by this
Section 7.17. Notwithstanding anything herein to the contrary, nothing contained in this Section 7.17 shall operate to discharge, release or waive the obligations, covenants and agreements of Buyer
arising under this Agreement or any other agreement, document, instrument or certificate entered into or executed in connection herewith or any liability for fraud by such Person. 

Section 7.18. Mail; Payments; Misallocated Assets. 

(a) Mail. From and after the Closing, Parent and Seller hereby authorize and empower each of Buyer, the Company and their respective
Affiliates to receive and open all mail and other communications (including electronic communications) received by Buyer or its Affiliates relating to the Business and to deal with the contents of such communications. Each of Parent and Seller shall
promptly deliver, or cause to be delivered, to Buyer any mail or other communication (including electronic communications) received by Parent, Seller or any of their Affiliates after the Closing Date pertaining to the Business. 

(b) Payments. From and after the Closing, Parent and Seller shall promptly pay or deliver, or cause to be paid or delivered, to Buyer or
its designee any monies or checks relating to the Business which have been received by Parent, Seller or any of their Affiliates. Parent and Seller agree that Buyer and its Affiliates have the right and authority to endorse, without recourse, any
check or other evidence of indebtedness received by Buyer or any of its Affiliates in respect of any note or account receivable transferred to Buyer or any of its Affiliates pursuant to this Agreement and Parent and Seller shall furnish Buyer or its
designee such evidence of this authority as Buyer may request. 
 (c) Misallocated Assets. From and after the Closing, in the event
that Buyer, Parent or Seller or any of their respective Affiliates discovers that an asset used primarily in the Business is owned by Parent, Seller or any of their Affiliates and was not acquired by Buyer by virtue of Buyer’s acquisition of
the Company Interests as contemplated herein, Parent or Seller shall, or shall cause such Affiliate to, assign, transfer, convey and deliver such asset to Buyer or one of its Affiliates, as directed by Buyer, for no additional consideration, and
shall execute such further documents and instruments reasonably necessary to give effect to and evidence such assignment, transfer, conveyance and delivery. 

  
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 Section 7.19. Matters Relating to Parent and its Affiliates. 

(a) Contracts. Except as set forth on Section 7.19(a) of the Seller Disclosure Schedules and except for the
obligations of each of Parent and Seller in accordance with this Agreement, effective at the Closing, all Contracts, including all obligations to provide goods, services or other benefits, between Parent, any of its Affiliates or any of their
respective directors, officers, managers, partners or employees, on the one hand, and the Company, any of its Subsidiaries or any of their respective directors, officers, managers, partners or employees, on the other hand, shall be terminated
without any party having any continuing obligation or Liability to the other, in each case such termination in form and substance reasonably satisfactory to Buyer. 

(b) Indebtedness and Other Matters. Except as set forth on Section 7.19(b) of the Seller Disclosure Schedules,
effective as of the Closing, any Indebtedness and all payables and receivables between Parent, any of its Affiliates or any of their respective directors, officers, managers, partners or employees, on the one hand, and the Company, any of its
Subsidiaries or any of their respective directors, officers, managers, partners or employees, on the other hand, shall be settled in full or otherwise discharged so that there is no further Liability by any party thereto to any party thereto. 

Section 7.20. Tax Matters. 

(a) Purchase Price Allocation. The final Purchase Price and any other amounts to the extent properly treated as consideration for U.S.
federal income tax purposes (including adjustments to the foregoing for purposes of this Agreement), shall be allocated among the shares of Velocity Holdings and Bolt Holdings as follows: (i) $35,000,000 plus any amounts paid pursuant to
Section 2.03(b) or Section 2.04(b), minus any adjustments made pursuant to Section 2.04, shall be allocated to the shares of Bolt Holdings and (ii) the
remainder shall be allocated to the shares of Velocity Holdings (such allocation, the “Purchase Price Allocation”). Parent, Seller and Buyer shall, and shall cause their respective Affiliates to, prepare and file all Tax Returns on
a basis consistent with the Purchase Price Allocation and shall not take any position inconsistent with the Purchase Price Allocation on any Tax Return, except as otherwise required by applicable Law. 

(b) Tax Indemnification. From and after the Closing, Seller and Parent shall jointly and severally indemnify, defend and hold harmless
Buyer and its Subsidiaries and each of their respective Affiliates from and against any and all Losses to the extent arising from or relating to any Taxes of Parent or any of its Affiliates (other than the Company or the Company Subsidiaries),
including any such Taxes arising as a result of any of Velocity or Bolt being part of or owned by, or ceasing to be part of or owned by, an affiliated, combined, consolidated, unitary, or similar group on or prior to the Closing (including, for the
avoidance of doubt, any Taxes imposed under Treasury Regulations Section 1.1502-6 or similar provision of state or local Law), regardless of whether or not any such Tax liability relates to actions or
activities of Velocity or Bolt. Notwithstanding anything to the contrary contained herein, Buyer and its 

  
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Subsidiaries and each of their respective Affiliates shall not make any claim pursuant to this Section 7.20(b) or otherwise under this Agreement (other than any notice
intended to preserve the rights of Buyer and its Subsidiaries to indemnification hereunder) for Taxes related to or arising from Parent’s consolidated, combined, affiliated or unitary Tax Returns unless and until Buyer, its Subsidiaries or any
of their respective Affiliates has received an official assessment of such Taxes from a Governmental Authority (or such Taxes are otherwise settled or resolved and agreed with such Governmental Authority). 

(c) Parent’s Tax Returns. Parent shall prepare, or cause to be prepared, and file, or cause to be filed, when due, all of
Parent’s and Seller’s consolidated, combined, affiliated or unitary Tax Returns that include Velocity or Bolt for any Pre-Closing Tax Period and that are due after the Closing Date. Parent shall
timely pay all Taxes shown as due on all original Tax Returns filed by it pursuant to this Section 7.20(c), and each such Tax Return shall be prepared in a manner consistent with past practice. Parent shall provide a draft
of (i) any such Tax Return of Parent within ten (10) Business Days prior to such filing and (ii) Velocity’s pro forma Tax Return to be used in completing any such Tax Return of Parent to Buyer at least forty-five (45) days
prior to the due date for filing any Tax Return to be filed pursuant to this Section 7.20(c). Buyer may provide any comments to Parent with respect to the Tax Return described in clause (i) of this
Section 7.20(c) after Buyer’s receipt thereof, and Parent shall consider in good faith all such comments provided by Buyer in its reasonable discretion. Buyer shall provide any comments to Parent with respect to the
pro forma Tax Return of Velocity described in clause (ii) of this Section 7.20(c) within fifteen (15) days after Buyer’s receipt thereof, and Parent shall consider in good faith all reasonable comments
provided by Buyer. If Parent does not agree with any of Buyer’s comments to such pro forma Tax Return of Velocity, then Parent shall notify Buyer of its disagreement within fifteen (15) days after receiving Buyer’s comments. If Parent
delivers any such notification to Buyer with respect to a Velocity pro forma Tax Return, then Parent and Buyer shall negotiate in good faith to resolve any disputes over such pro forma Tax Return for fifteen (15) days after Buyer’s receipt
of Parent’s notification of disagreement. Any disputes over such pro forma Tax Return that cannot be resolved through negotiations between Buyer and Parent shall be submitted for resolution to the Accounting Firm or a tax counsel of nationally
recognized standing in the United States experienced in such matters. The determination of the Accounting Firm or such tax counsel shall be binding on the parties. The costs of the Accounting Firm or such tax counsel shall be borne by Buyer;
provided that if the Accounting Firm or such tax counsel determines an adjustment to taxable income of more than $2,500,000, Parent shall bear such costs. 

(d) Buyer’s Tax Returns. After the Closing, Buyer shall prepare, or cause to be prepared, and file, or cause to be filed, when due,
all Tax Returns with respect to Velocity and Bolt, other than those described in Section 7.20(c), and shall timely pay all Taxes shown as due on all Tax Returns filed pursuant to this
Section 7.20(d). 
 (e) Tax Contests. 

(i) Parent and its Affiliates, on the one hand, and Buyer and its Affiliates, on the other hand (either of them, the
“Recipient”), shall notify the other party in writing within ten (10) Business Days after receipt by the Recipient of written notice of any pending or threatened audit, adjustment, assessment, examination or proceeding (whether
judicial or administrative) (a “Tax Audit”) which may affect the liability for Taxes of such other party or may give rise to an indemnification payment under Section 7.20(b). 

  
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 (ii) Parent shall control all Tax Audits of Parent’s or Seller’s consolidated,
combined, affiliated, or unitary Tax Returns; provided that, with respect to any such Tax Return that includes Velocity or Bolt (or any other Tax Return for which Velocity or Bolt may be liable for Taxes as a result of being part of or owned
by, or ceasing to be a part of or owned by, an affiliated, combined, consolidated, unitary, or similar group on or prior to the Closing (including, for the avoidance of doubt, any Taxes imposed under Treasury Regulations Section 1.1502-6 or similar provisions of state or local Law)), (a) Buyer may, at its own expense, observe the defense of any such Tax Audit and employ counsel of its choice in connection with any such Tax
Audit and (b) Parent shall (x) keep Buyer reasonably informed with respect to all matters relating to such Tax Audit, (y) upon request of Buyer, consult with Buyer regarding the conduct of such Tax Audit, and (z) not settle,
compromise or otherwise dispose of any material issues in such Tax Audit without obtaining Buyer’s prior written consent (not to be unreasonably withheld, conditioned, or delayed). Notwithstanding the foregoing, if, at any time prior to the
completion of such Tax Audit, Parent has adopted a plan or agreement of complete or partial liquidation or dissolution, Buyer shall control such Tax Audit, provided, that Buyer shall (A) keep Parent reasonably informed with respect to
all matters relating to such Tax Audit for which Parent may have liability pursuant to this Agreement, (B) upon request of Parent, consult with Parent regarding the conduct of such Tax Audit and (C) not settle or otherwise dispose of any
issues in such Tax Audit for which Parent may have liability pursuant to this Agreement without obtaining Parent’s prior written consent (not to be unreasonably withheld, conditioned, or delayed). 

(f) Tax Cooperation. Buyer, on the one hand, and Parent, on the other hand, shall (and shall cause their Affiliates to) (i) provide
each other with such assistance as may be reasonably requested in connection with the preparation, review, or filing of any Tax Return, (ii) until the applicable statute of limitation (including periods of waiver) has expired, retain and
provide the other party with reasonable access to all work papers, records or information that may be relevant to any Tax Return described in Section 7.20(c) or Section 7.20(d) or filed or required
to be filed with respect to any Pre-Closing Tax Period, (iii) notify the other party no later than thirty (30) days prior to disposing of any such work papers, records or information and deliver to
such other party any such work papers, records or information requested thereby, and (iv) cooperate fully, as and to the extent reasonably requested by any other party, in connection with any Tax Audit (such cooperation shall include the
retention and (upon the other party’s reasonable request) the provision of records and information that are reasonably relevant to any such Tax Audit and making employees and advisors available on a mutually convenient basis to provide
additional information and explanation of any material provided hereunder). Parent shall provide Buyer with a copy of any of Parent’s and Seller’s consolidated, combined, affiliated, or unitary Tax Returns that include Velocity or Bolt for
any Pre-Closing Tax Period that are due after the Closing Date within thirty (30) days of filing. Notwithstanding anything to the contrary contained herein, except as otherwise required by Law, none of
Buyer and its Subsidiaries and each of their respective Affiliates shall make, or cause to be made, any voluntary disclosure of any information contained in or related to the Tax Returns of Parent or its Subsidiaries to a Governmental Authority,
including by filing any amended Tax Return, without the prior written consent of Parent (not to be unreasonably withheld, conditioned, or delayed). 

  
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 (g) Carrybacks. With respect to any of Parent’s or Seller’s consolidated,
combined, affiliated, or unitary Tax Returns, Parent or Seller (as applicable) shall (and shall not waive or otherwise forego the right to) carryback any losses recognized for U.S. federal income tax purposes in a taxable year (or portion thereof)
following the Closing Date to the Pre-Closing Tax Period, to the full extent permitted by applicable Tax Law. 

ARTICLE 8 
 CONDITIONS TO
THE CLOSING 
 Section 8.01. Conditions to the Obligations of Each Party. The obligation of each party hereto to consummate
the Transactions is subject to the satisfaction or, to the extent permitted by applicable Law, waiver, on or prior to the Closing, of the following conditions: 

(a) No Order issued by a Governmental Authority having jurisdiction over any party hereto, nor any applicable Law, shall be in effect that, in
each case, makes the consummation of the Transactions illegal, or otherwise prevents the consummation of the Transactions. 
 (b) The Parent
Stockholder Approval shall have been obtained in accordance with applicable Law and the certificate of incorporation and bylaws of Parent. 

(c) Any waiting period (and extension thereof) under the HSR Act relating to the Transactions shall have expired or been terminated. 

Section 8.02. Conditions to the Obligations of Buyer. The obligation of Buyer to consummate the Transactions is subject to the
satisfaction or, to the extent permitted by applicable Law, waiver by Buyer, on or prior to the Closing, of the following conditions: 
 (a)
Each of the representations and warranties set forth (i) in Section 3.06(b) and Section 3.07(b) shall be true and correct in all respects except for de minimis inaccuracies, (ii) in
Section 3.06(a), Section 3.09(b) and Section 4.05 shall be true and correct in all respects, (iii) in the first sentence of Section 3.01,
Section 3.03, Section 3.06(c), Section 4.02, Section 4.08, Section 5.02, Section 5.10, and
Section 5.12 shall be true and correct in all material respects and (iv) in this Agreement (other than the representations and warranties set forth in the foregoing clauses (i) – (iii)) shall be true and correct
in all respects (after disregarding any qualifications that reference material, materiality, Seller Material Adverse Effect, Parent Material Adverse Effect or Company Material Adverse Effect), except to the extent that any inaccuracies in such
representation or warranty would not have and would not reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect, a Parent Material Adverse Effect or a Company Material Adverse Effect, as applicable, and in
the case of clauses (i) – (iv) as if such representations and warranties were made on and as of the date hereof and the Closing Date (or, in the case of such representations and warranties made only as of a specified time or date, on and as of
such specified time or date). 
 (b) Seller, Parent and the Company shall have performed in all material respects any obligation or complied
in all material respects with any agreement or covenant of Seller, Parent or the Company, as applicable, to be performed or complied with by Seller, Parent or the Company, as applicable, under this Agreement at any time prior to the Closing. 

  
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 (c) Since the date of this Agreement, there shall not have been any Effect that has had or would
reasonably be expected to have, individually or in the aggregate, a Seller Material Adverse Effect, a Parent Material Adverse Effect or a Company Material Adverse Effect. 

(d) Seller, Parent and the Company shall have delivered to Buyer a certificate, dated as of the Closing Date, signed by a senior executive
officer of each of Seller, Parent and the Company, respectively, certifying that the conditions specified in each of Section 8.02(a), Section 8.02(b) and Section 8.02(c)
have been satisfied. 
 Section 8.03. Conditions to the Obligations of Seller and Parent. The obligation of Seller and Parent to
consummate the Transactions is subject to the satisfaction or, to the extent permitted by applicable Law, waiver by Seller or Parent, on or prior to the Closing, of the following conditions: 

(a) Each of the representations and warranties of Buyer set forth (i) in Section 6.09 shall be true and correct
in all respects, (ii) in Section 6.01, Section 6.02 and Section 6.12 shall be true and correct in all material respects, and (iii) in this Agreement (other than
the representations and warranties set forth in the foregoing clauses (i) – (ii)) shall be true and correct in all respects (after disregarding any qualifications that reference material, materiality or Buyer Material Adverse Effect), except to
the extent that any inaccuracies in such representation or warranty would not have and would not reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect, and, in the case of clauses (i) – (iii) as if
such representations and warranties were made on and as of the date hereof and the Closing Date (or, in the case of such representations and warranties made only as of a specified time or date, on and as of such specified time or date). 

(b) Buyer shall have performed in all material respects any obligation or complied in all material respects with any agreement or covenant of
Buyer to be performed or complied with by it under this Agreement at any time prior to the Closing. 
 (c) Buyer shall have executed and
delivered the Representative Side Letter and such agreement shall be in full force and effect. 
 (d) Buyer shall have delivered to Seller
and Parent a certificate, dated as of the Closing Date, signed by a senior executive officer of Buyer certifying that the conditions specified in each of Section 8.03(a) and Section 8.03(b) have
been satisfied. 
 Section 8.04. Frustration of Closing Conditions. Neither Seller, Parent nor Buyer may rely on the failure of
any condition set forth in Section 8.01, Section 8.02 or Section 8.03, as the case may be, to be satisfied if such failure was caused by Buyer’s failure, on the one
hand, or Seller’s, Parent’s or the Company’s failure, on the other hand, to perform its respective obligations hereunder. 

  
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 ARTICLE 9 

TERMINATION 

Section 9.01. Termination. This Agreement may be terminated and the Transactions may be abandoned at any time prior to the
Closing, whether before or after the Parent Stockholder Approval has been obtained, except as expressly noted: 
 (a) by mutual written
agreement of Seller or Parent and Buyer; 
 (b) by either Seller, Parent or Buyer, if: 

(i) the Closing shall not have occurred in accordance with its terms and this Agreement on or before March 23, 2018 (the “End
Date”); provided, however, that the right to terminate this Agreement under this Section 9.01(b)(i) shall not be available to any party hereto whose material breach (including, with respect to Seller
or Parent, material breach by Parent, Seller or the Company) of any of its obligations under this Agreement has been the primary cause of, or resulted in, the failure of the Closing to be consummated by the End Date; 

(ii) any Governmental Authority of competent jurisdiction shall have issued a final, non-appealable
Order permanently restraining, enjoining or otherwise prohibiting the Transactions; provided, however, that the right to terminate this Agreement under this Section 9.01(b)(ii) shall not be available to any
party hereto whose material breach (including, with respect to Seller or Parent, material breach by Parent, Seller or the Company) of any of its obligations under this Agreement has been the primary cause of, or resulted in, such Order; 

(iii) any Order issued by a Governmental Authority having jurisdiction over any party hereto, or any applicable Law, shall be in effect that,
in each case, makes the consummation of the Transactions illegal, or otherwise prevents the consummation of the Transactions; or 
 (iv) the
Stockholders Meeting shall have been held and completed (after giving effect to any adjournment or postponement thereof) and the Parent Stockholder Approval shall not have been obtained at such Stockholders Meeting; 

(c) by Buyer: 
 (i) if a Change in
Recommendation shall have occurred (it being understood and agreed that any notice to Buyer in accordance with Section 7.02 of Parent’s intentions to make a Change in Recommendation prior to effecting such Change in
Recommendation shall not result in Buyer having any termination rights pursuant to this Section 9.01(c)(i)); provided that Buyer’s right to terminate this Agreement pursuant to this
Section 9.01(c)(i) with respect to a Change in Recommendation shall expire at 5:00 p.m., New York City time, on the tenth (10th) calendar day following such Change in
Recommendation; or 
 (ii) if Seller, Parent or the Company shall have breached or failed to perform in any material respect any of its
representations, warranties, covenants or other agreements contained in this Agreement, which breach or failure to perform (A) would give rise to the failure of the conditions set forth in Section 8.02(a) or
8.02(b) and (B) is incapable of being 

  
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cured or has not been cured by Seller, Parent or the Company, as applicable, within thirty (30) Business Days after written notice has been given by Buyer to Seller or Parent of such breach
or failure to perform; provided, however, that Buyer may not terminate this Agreement pursuant to this Section 9.01(c)(ii) if, at the time such termination would otherwise take effect in accordance with the
foregoing, Buyer is in material breach of any provision of this Agreement; or 
 (d) by Seller or Parent: 

(i) if, at any time prior to receiving the Parent Stockholder Approval, (A) the Parent Board has determined to terminate this Agreement in
response to a Superior Proposal in compliance with Section 7.02(d), (B) substantially concurrently with such termination of this Agreement Parent or Seller enters into a definitive Alternative Acquisition Agreement with
respect to such Superior Proposal and (C) substantially concurrently with such termination, Seller pays (and Parent shall cause Seller to pay) to Buyer by wire transfer in immediately available funds the Termination Fee required to be paid
pursuant to Section 11.04(b); or 
 (ii) if Buyer shall have breached or failed to perform in any material respect
any of its representations, warranties, covenants or other agreements contained in this Agreement, which breach or failure to perform (A) would give rise to the failure of the condition set forth in Section 8.03(a) or
8.03(b) and (B) is incapable of being cured or has not been cured by Buyer within thirty (30) Business Days after written notice has been given by Seller or Parent to Buyer of such breach or failure to perform; provided,
however, that neither Seller nor Parent may terminate this Agreement pursuant to this Section 9.01(d)(ii) if, at the time such termination would otherwise take effect in accordance with the foregoing, Parent, Seller
or the Company is in material breach of any provision of this Agreement; or 
 (e) by Seller and Parent, if (i) all of the conditions
set forth in Section 8.01 and Section 8.02 have been satisfied (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver (to
the extent permitted hereunder) of such conditions) or waived, (ii) Seller and Parent have irrevocably confirmed by written notice to Buyer that (x) all conditions set forth in Section 8.01 and
Section 8.03 have been satisfied or waived in writing (other than those conditions that by their nature are to be satisfied at the Closing), (y) Seller and Parent have certified in writing that they are ready, willing and
able to consummate the Transactions on the date the Closing is required to have occurred pursuant to Section 2.01 and (z) Buyer fails to consummate the Transactions within three (3) Business Days following the
later of (A) the date of delivery of such notice of termination and (B) the date the Closing is required to have occurred pursuant to Section 2.01. 

The party desiring to terminate this Agreement pursuant to this Section 9.01 (other than pursuant to
Section 9.01(a)) shall give notice of such termination to each other party hereto and specify the applicable provision or provisions hereof pursuant to which such termination is effected. 

Section 9.02. Effect of Termination. If this Agreement is terminated pursuant to Section 9.01, this
Agreement shall become void and of no effect without liability of any party (or any Representative of such party) to each other party hereto; provided, however, that the applicable definitions set forth in Article 1,
Section 7.04(c), this Section 9.02 and Article 11 (including any 

  
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obligation to pay the Termination Fee under Section 11.04 or the Buyer Termination Fee under Section 11.05) shall survive any termination
hereof pursuant to Section 9.01; provided, further, that nothing herein shall relieve any party hereto from liability for any intentional and knowing (i.e., both the action that constituted the breach was
deliberate and not inadvertent and, at the time, those taking or authorizing such action knew that such action would constitute a material breach) and material breach of this Agreement prior to such termination. No termination of this Agreement
shall affect the obligations of the parties contained in the Confidentiality Agreement. 
 Section 9.03. Financing Sources.
Notwithstanding anything in this Agreement to the contrary, no Financing Source shall have any liability for any obligations or liabilities of the parties hereto or for any claim (whether in tort, contract or otherwise), based on, in respect of, or
by reason of, the Transactions or in respect of any oral representations made or alleged to be made in connection herewith. In no event shall Parent, Seller or any of their Affiliates, and each of Parent and Seller agrees not to and to cause its
Affiliates not to, (a) seek to enforce this Agreement against, make any claims for breach of this Agreement against, or seek to recover monetary damages from, any Financing Source or (b) seek to enforce the commitments against, make any
claims for breach of the Debt Financing commitments against, or seek to recover monetary damages from, or otherwise sue, the Financing Sources for any reason, including in connection with the Debt Financing commitments or the obligations of
Financing Sources thereunder. Nothing in this Section 9.03 shall in any way limit or qualify the liabilities of the Financing Sources and the other parties to the Debt Financing (or the definitive documents entered into
pursuant thereto) to each other thereunder or in connection therewith. 
 ARTICLE 10 

INDEMNIFICATION 

Section 10.01. Indemnification by Seller and Parent. From and after the Closing, Seller and Parent (the “Indemnifying
Parties”) shall jointly and severally indemnify, defend and hold harmless the Company, Buyer, their respective Affiliates, and their respective officers, directors, managers, partners, employees, equityholders, representatives, successors
and assigns (each, an “Indemnified Party” and collectively, “Indemnified Parties”) from and against any and all Losses incurred by any of the Indemnified Parties arising out of, in connection with or relating to the
matters set forth on the Parent Indemnity Schedule. For purposes of this Agreement, “Losses” means all claims, losses, Liabilities, damages, deficiencies, interest and
penalties, costs and expenses, including in connection with or resulting from the defense, settlement and/or compromise of a claim, demand or assessment, and including the reasonable costs, expenses and fees of attorneys, accountants, expert
witnesses and investigators. 
 Section 10.02. Procedure with Respect to Direct Claims. 

(a) If an Indemnified Party shall have a claim for indemnification hereunder, other than with respect to a claim asserted by a third party, the
Indemnified Party shall, as promptly as is practicable, give written notice (a “Claim Notice”) to the Indemnifying Parties of the nature and, to the extent practicable, a good faith estimate of the amount, of the claim. The failure
to make timely delivery of a Claim Notice by the Indemnified Party to the Indemnifying Parties shall not relieve the Indemnifying Parties from any liability under this Article 10 with respect to such matter, except to the extent the
Indemnifying Parties are actually materially prejudiced by failure to give such notice. 

  
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 (b) Within forty-five (45) days after receipt of a Claim Notice, the Indemnifying Parties
shall, by written notice to the Indemnified Party and Buyer, respond either conceding or denying liability for the claim set forth in such Claim Notice. If the Indemnifying Parties fail to deliver such written notice to the Indemnified Party by 5:00
p.m., New York City time, on the last day of such forty-five (45) day period, the Indemnifying Parties shall be deemed to have conceded the entire amount of such claim and, notwithstanding anything to the contrary in this Agreement, the
Indemnified Party shall be entitled to the entire amount of any claim set forth in such Claim Notice. If the Indemnifying Parties shall deny liability, in whole or in part, such written notice to the Indemnified Party and Buyer shall be accompanied,
to the extent practicable, by a reasonably detailed description of the basis for such denial. If the Indemnifying Parties deny liability for such claim set forth in such Claim Notice, in whole or in part, the Indemnified Party and the Indemnifying
Parties shall attempt to resolve such dispute as promptly as possible. If such Indemnified Party and the Indemnifying Parties fail to resolve such dispute within forty-five (45) days after the Indemnified Party’s and Buyer’s receipt
of the written notice from the Indemnifying Parties corresponding to such dispute, any party may commence appropriate legal proceedings (and in each case, in accordance with Section 11.07, Section 11.08 and
Section 11.09) in order to obtain a final judgment of a court of competent jurisdiction. 
 (c) If the Indemnifying Parties shall
not object in writing within forty-five (45) days after receipt of any Claim Notice, claims for Losses covered by an agreement between the Indemnified Party and the Indemnifying Parties and claims for Losses the validity and amount of which
have been the subject of judicial determination as described in the last sentence of Section 10.02(b) or shall have been settled with the consent of the Indemnifying Parties as described in Section 10.03, are hereinafter
referred to, collectively, as “Agreed Claims.” Within five (5) Business Days after the determination of the amount of any Agreed Claim, the Indemnifying Parties shall pay, or cause to be paid, to the Indemnified Party an
amount equal to the Agreed Claim by wire transfer in immediately available funds to the bank account or accounts designated in writing by the Indemnified Party. 

Section 10.03. Procedure with Respect to Third-Party Actions. 

(a) If an Indemnified Party receives notice of any matter involving a claim asserted by a third party that would give rise to an
indemnification claim against the Indemnifying Parties, then the Indemnified Party shall, as promptly as is practicable, deliver to the Indemnifying Parties a written notice describing, to the extent practicable, such matter in reasonable detail.
The failure to make timely delivery of such written notice by the Indemnified Party to the Indemnifying Parties shall not relieve the Indemnifying Parties from any liability under this Article 10 with respect to such matter, except to the
extent the Indemnifying Parties are actually materially prejudiced by failure to give such notice. 
 (b) The Indemnifying Parties shall have
the right, at their option, to assume the defense of any such matter with their own counsel, but only if the Indemnifying Parties simultaneously agree to fully indemnify the Indemnified Party for such matter. However, the Indemnifying Parties shall
not have the option to assume the defense of any such third party 

  
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claim which (i) seeks any remedy other than money damages, (ii) involves a claim brought by or on behalf of a Governmental Authority, or (iii) claim, or the
assumption by the Indemnifying Parties of the defense of which claim, the Indemnified Party or Buyer determines would be reasonably likely to materially adversely affect the continuing business operations of the Indemnified Party, Buyer, the Company
or any of its Affiliates or their relationships with customers, clients, suppliers or other third parties with whom the Company or any of its Affiliates has a material business relationship (in which case the Indemnified Party shall control the
defense of such matter and the Indemnifying Parties shall have the right to participate in the defense of such matter at the Indemnifying Parties’ own cost and expense). 

(c) If the Indemnifying Parties elect to assume the defense of any such matter, then: 

(i) The Indemnified Party shall have the right to participate in the defense of such matter and to employ its own counsel, at its own cost and
expense, and the Indemnifying Parties shall not be required to pay or otherwise indemnify the Indemnified Party against any attorneys’ fees or other expenses incurred on behalf of the Indemnified Party in connection with such matter following
the Indemnifying Parties’ election to assume the defense of such matter, unless (x) an Indemnifying Party fails to defend diligently the action or proceeding within twenty (20) days after receiving notice of such failure from the
Indemnified Party, (y) the Indemnified Party reasonably shall have concluded (upon advice of its counsel) that there may be one or more legal or equitable defenses available to such Indemnified Party or other Indemnified Parties that are not
available to the Indemnifying Parties, or (z) the Indemnified Party reasonably shall have concluded (upon advice of its counsel) that, with respect to such claims, the Indemnified Party and the Indemnifying Parties have an actual
conflict of interest, or that an actual conflict of interest is reasonably likely to exist. 
 (ii) The Indemnifying Parties shall not,
without the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld, conditioned or delayed, settle or compromise any pending or threatened Proceeding in respect of which indemnification may be sought
hereunder (whether or not the Indemnified Party is an actual or potential party to such Proceeding) or consent to the entry of any judgment (x) which does not, to the extent that the Indemnified Party may have any liability with respect to
such Proceeding, include as an unconditional term thereof the delivery by the claimant or plaintiff to the Indemnified Party of a written release of the Indemnified Party from all liability in respect of such Proceeding, (y) which includes any
statement or admission of fact regarding culpability of, or a failure to act by or on behalf of, the Indemnified Party, or (z) in any manner that involves any injunctive relief against the Indemnified Party. 

(d) If the Indemnifying Parties elect not to assume the defense of such matter, or fail to notify the Indemnified Party of their election to
assume the defense of such matter, within forty-five (45) days after receipt of written notice of such matter, then the Indemnified Party shall proceed diligently to defend such matter with the assistance of counsel reasonably satisfactory to
the Indemnifying Parties and shall be entitled to be reimbursed for all reasonable costs, expenses and fees incurred by the Indemnified Party in the defense of such matter. The Indemnifying Party shall not settle or compromise such matter without
the prior written consent of the Indemnified Parties, which consent shall not be unreasonably withheld, conditioned or delayed. 

  
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 (e) Regardless of which party assumes the defense of such matter, the parties shall reasonably
cooperate with one another in connection therewith. Such reasonable cooperation shall include making available all books, records and other documents and materials that are relevant to the defense of such matter and making employees, officers and
advisors reasonably available to provide additional information or to act as a witness or respond to legal process. The parties shall use commercially reasonable efforts to avoid production of confidential information (consistent with applicable
Law), and to cause all communications among employees, counsel and others representing any party to a third-party claim to be made so as to preserve any applicable attorney-client or work-product privileges. 

Section 10.04. Tax Matters. Parent, Seller and Buyer agree to treat any indemnity payment made pursuant to this Article 10
or Section 7.20(b) as an adjustment to the Purchase Price for federal, state, local and non-U.S. income tax purposes, except as otherwise provided by applicable Law. Notwithstanding
any provision of this Article 10, all procedures relating to Tax matters shall be governed exclusively by the provisions of Section 7.20(e). 

ARTICLE 11 

MISCELLANEOUS 

Section 11.01. Notices. Any notices or other communications required or permitted under, or otherwise given in connection with,
this Agreement shall be in writing and shall be deemed to have been duly given (a) when delivered or sent if delivered in person or sent by facsimile transmission (provided, that confirmation of facsimile transmission is obtained), (b)
on the fifth (5th) Business Day after dispatch by registered or certified mail, (c) on the next Business Day if transmitted by national overnight courier or (d) on the date delivered if
sent by email (provided, that confirmation of email receipt is obtained), in each case as follows: 
 if to Buyer, to: 

Arsenal Buyer Inc. 
 c/o CVC
Capital Partners Advisory (U.S.), Inc. 
 712 Fifth Avenue, 43rd Floor 

New York, NY 10019 
 Attention:
Aaron Dupuis 
 Facsimile No: (212) 265-6375 

Email: adupuis@cvc.com 
 with a
copy (which shall not constitute notice) to: 
 Fried, Frank, Harris, Shriver & Jacobson LLP 

One New York Plaza 
 New York, NY
10004 
 Attention:   Steven J. Steinman, Esq. 

  Warren S. de Wied, Esq. 

  
 79 

 
			
		 	Andrea Gede-Lange, Esq.
	Facsimile No:	 	(212) 859-4000
	Email:	 	steven.steinman@friedfrank.com
		 	warren.de.wied@friedfrank.com
		 	andrea.gede-lange@friedfrank.com
	
	if to Seller or Parent, to:
	
	 Actua Corporation
 555 E. Lancaster
Avenue
 Suite 640
 Radnor, PA 19087

	Attention:	 	Suzanne Niemeyer
		 	Scott Powers
	Facsimile No: (610) 727-6879
	Email:	 	 suzanne@actua.com
 scott@actua.com

	
	with a copy (which shall not constitute notice) to:
	
	 Dechert LLP
 2929 Arch Street

Philadelphia, PA 19104

	Attention:	 	 Henry Nassau, Esq.
 Stephen Leitzell,
Esq.

	Facsimile No.:	 	(215) 655-2138
		 	(215) 655-2621
	Email:	 	 henry.nassau@dechert.com

stephen.leitzell@dechert.com

	
	if to the Company, prior to the Closing, to:
	
	 Actua Corporation
 555 E. Lancaster
Avenue
 Suite 640
 Radnor, PA 19087

	Attention:	 	 Suzanne Niemeyer
 Scott Powers

	Facsimile No:	 	(610) 727-6879
	Email:	 	 suzanne@actua.com
 scott@actua.com

	
	with a copy (which shall not constitute notice) to:
	
	 Dechert LLP
 2929 Arch Street

Philadelphia, PA 19104

  
 80 

 Attention:         Henry Nassau, Esq. 

       Stephen Leitzell, Esq. 

Facsimile No.: (215) 655-2138 

(215) 655-2621 

Email:             henry.nassau@dechert.com 

      stephen.leitzell@dechert.com 

if to the Company, following the Closing, to: 

Arsenal Acquisition Holdings, LLC 

c/o CVC Capital Partners Advisory (U.S.), Inc. 

712 Fifth Avenue, 43rd Floor 

New York, NY 10019 
 Attention:
Aaron Dupuis 
 Facsimile No.: (212) 265-6375 

Email: adupuis@cvc.com 
 with a
copy (which shall not constitute notice) to: 
 Fried, Frank, Harris, Shriver & Jacobson LLP 

One New York Plaza 
 New York, NY
10004 
 Attention: Steven J. Steinman, Esq. 

       Warren S. de Wied, Esq. 

       Andrea Gede-Lange, Esq. 

Facsimile No: (212) 859-4000 

Email:             steven.steinman@friedfrank.com 

      warren.de.wied@friedfrank.com 

      andrea.gede-lange@friedfrank.com 

Any party may update its address for notices by delivering written notice thereof to each of the other parties hereto pursuant to this
Section 11.01. 
 Section 11.02. Survival of Representations, Warranties and Covenants. The
representations, warranties, covenants and agreements contained herein and in any certificate or other writing delivered pursuant hereto shall not survive the Closing; provided, that this Section 11.02 shall not
limit any covenant or agreement of the parties which by its terms contemplates performance after the Closing. 
 Section 11.03.
Amendments and Waivers. Subject to applicable Law: 
 (a) Any provision of this Agreement may be amended or waived at any time before
or after approval of this Agreement and the Transactions by Buyer, Seller and Parent by action taken by or on behalf of their respective Boards of Directors, but only if, such amendment or waiver is in writing and is signed, in the case of an
amendment, by each party to this Agreement or, in the case of a waiver, by each party against whom the waiver is to be effective; provided, however, that without the further approval of Parent’s stockholders, no such amendment or

  
 81 

 
waiver shall be made or given that requires the approval of the stockholders of Parent under the DGCL unless such required further approval is obtained. Notwithstanding anything in this Agreement
to the contrary, the definition of “Financing Sources” and the provisions of Sections 9.03, 11.06(b), 11.07, 11.08, 11.09 and this Section 11.03 (and any provision of this
Agreement to the extent an amendment, modification, waiver or termination of such provision would modify the substance of any such Section) may not be amended, modified, waived or terminated in a manner that materially and adversely affects the
Financing Sources without the prior written consent of the Financing Sources materially and adversely affected thereby. 
 (b) No failure or
delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by applicable Law. 

Section 11.04. Fees; Expenses. 

(a) Except as otherwise provided herein, all costs and expenses incurred in connection with this Agreement shall be paid by the party incurring
such cost or expense. 

  
 82 

 (b) If this Agreement is terminated by Seller or Parent pursuant to
Section 9.01(d)(i), Seller shall pay (and Parent shall cause Seller to pay) Buyer a fee in immediately available funds in the amount of $8,802,207.59 (the “Termination Fee”) substantially concurrently with
such termination. 
 (c) If this Agreement is terminated by Buyer pursuant to Section 9.01(c)(i) then Seller shall
(and Parent shall cause Seller to) promptly, but in no event later than five (5) Business Days after termination of this Agreement, pay Buyer the Termination Fee. 

(d) If this Agreement is terminated by (i) Buyer, Seller or Parent pursuant to Section 9.01(b)(i) or
Section 9.01(b)(iv) or (ii) Buyer pursuant to Section 9.01(c)(ii) and (x) at any time on or after the date of this Agreement and prior to such termination (or prior to the Stockholders
Meeting in the case of a termination pursuant to Section 9.01(b)(iv)) an Acquisition Proposal shall have been publicly announced (and not publicly withdrawn) and (y) within twelve (12) months after the date of
such termination, Seller or Parent (or any of their Affiliates) enters into a definitive agreement or agreements with respect to one or more Acquisition Proposals, and thereafter the Acquisition Transaction(s) contemplated by such Acquisition
Proposal(s) is (or are) consummated (whether or not such consummation occurs before or after such twelve (12) month period) or any other Acquisition Transaction(s) is (or are) consummated within such twelve (12) month period, then Seller
shall (and Parent shall cause Seller to) pay Buyer the Termination Fee, less any Buyer Expenses previously paid by or on behalf of Seller or Parent, promptly, but in no event later than five (5) Business Days after such consummation;
provided, however, that for purposes of this Section 11.04(d), references to “Acquisition Transaction” shall be deemed to refer to one or more Acquisition Transactions involving, individually or in
the aggregate, the acquisition of at least fifty percent (50%) of the assets of, equity interests in or business (as determined by reference to consolidated revenues) of the Company and the Company Subsidiaries as of the date of this Agreement,
taken as a whole. 
 (e) If this Agreement is terminated by Buyer, Seller or Parent pursuant to
Section 9.01(b)(iv), then Seller shall promptly pay Buyer in immediately available funds, in no event later than two (2) Business Days after such termination of this Agreement, an amount equal to the reasonable out-of-pocket costs and expenses incurred by Buyer or its Affiliates in connection with this Agreement and the Transactions, including the fees and expenses of counsel,
accountants, investment bankers, experts and consultants, in an amount not to exceed $3,250,000 in the aggregate (“Buyer Expenses”). 

(f) For the avoidance of doubt, any payment made by Seller under this Section 11.04 shall be payable only once with
respect to this Section 11.04 and not in duplication even though such payment may be payable under one or more provisions hereof; provided, that the Buyer Expenses paid by or on behalf of Seller or Parent shall be
credited against any Termination Fee payable pursuant to Section 11.04(d). 
 (g) The parties acknowledge and agree
that (i) the agreements contained in this Section 11.04 are an integral part of the Transactions, (ii) without such provisions the other parties would not have entered into this Agreement and (iii) the
Termination Fee and/or the Buyer Expenses shall constitute liquidated damages and not a penalty. Accordingly, if Seller shall fail to pay the Termination Fee and/or the Buyer Expenses when due, Seller and Parent

  
 83 

 
shall reimburse Buyer for all reasonable costs and expenses incurred by Buyer (including reasonable fees and expenses of counsel) in connection with the collection and enforcement of this
Section 11.04 and pay to Buyer any interest on the unpaid amount under this Section 11.04, accruing from its due date, at an interest rate per annum equal to two (2) percentage points in excess of the prime commercial lending rate
quoted by The Wall Street Journal. Any change in the interest rate hereunder resulting from a change in such prime rate will be effective at the beginning of the date of such change in such prime rate. Buyer shall promptly provide to Seller upon
request therefor the wire transfer information required to make any payments pursuant to this Section 11.04. 
 (h) Notwithstanding
anything to the contrary contained in this Agreement, but subject to Section 11.10 and Section 11.04(f) with respect to the enforcement of the provisions of this
Section 11.04, in the event that the Termination Fee and/or the Buyer Expenses are paid by Seller as required by this Section 11.04, Buyer’s right to receive payment from Seller of the
Termination Fee pursuant to this Section 11.04 shall constitute the sole and exclusive remedy of Buyer and its Affiliates and Representatives against Seller, Parent, any of their Subsidiaries and any of their respective
former, current or future Representatives, general or limited partners, stockholders, members, managers, employees, Affiliates or assignees (collectively, the “Seller-Related Parties”) for all damages, costs, fees, expenses,
Liabilities, penalties or losses of any kind suffered as a result of or in connection with this Agreement (including the negotiation, execution, performance or breach thereof), the failure of the Transactions to be consummated or otherwise, and upon
payment of such amount, none of the Seller-Related Parties shall have any further Liability or obligation relating to or arising out of this Agreement or the Transactions under any theory of law or equity, contract, tort or otherwise. 

Section 11.05. Buyer Termination Fee. 

(a) If this Agreement is validly terminated by Seller or Parent pursuant to Section 9.01(e), then except in a
circumstance where the Company is seeking specific performance pursuant to Section 11.10, Buyer shall promptly, but in no event later than five (5) Business Days after the date of such termination, pay or cause to be
paid to Seller in immediately available funds an amount equal to $12,902,943.46 (the “Buyer Termination Fee”). 
 (b) The
parties acknowledge and agree that (i) the agreements contained in this Section 11.05 are an integral part of the Transactions, (ii) without such provisions the other parties would not have entered into this
Agreement and (iii) the Buyer Termination Fee shall constitute liquidated damages and not a penalty. If Buyer shall fail to pay the Buyer Termination Fee when due, Buyer shall reimburse Seller for all reasonable costs and expenses incurred by
Seller (including reasonable fees and expenses of counsel) in connection with the collection and enforcement of this Section 11.05 and pay to Seller any interest on the unpaid amount under this Section 11.05, accruing from its due
date, at an interest rate per annum equal to two (2) percentage points in excess of the prime commercial lending rate quoted by The Wall Street Journal. Any change in the interest rate hereunder resulting from a change in such prime rate will be
effective at the beginning of the date of such change in such prime rate. The parties further acknowledge and agree that (x) in no event shall Buyer be required to pay the Buyer Termination Fee on more than one occasion and (y) while
Seller may pursue both the payment of the Buyer Termination Fee under Section 11.05(a) and specific performance of the type 

  
 84 

 
contemplated by Section 11.10, under no circumstances shall Seller be permitted or entitled both to (x) receive and retain the Buyer Termination Fee and (y) a
grant of specific performance that requires the Buyer Related Parties to consummate the Transactions and to cause the funding of the Equity Financing. Seller shall promptly provide to Buyer upon request therefor the wire transfer information
required to make any payments pursuant to this Section 11.05. 
 (c) Notwithstanding anything to the contrary
contained in this Agreement, but subject to Section 11.10 and Section 11.05(b) with respect to the enforcement of the provisions of this Section 11.05, in the event that
the Buyer Termination Fee is paid by Buyer as required by this Section 11.05, Seller’s right to receive payment from Buyer of the Buyer Termination Fee pursuant to this Section 11.05 shall
constitute the sole and exclusive remedy of Parent, Seller, the Company and their respective Affiliates and Representatives against the Sponsors, Buyer and their respective Subsidiaries and any of their respective former, current or future
Representatives, general or limited partners, stockholders, members, managers, employees, Affiliates or assignees or the Financing Sources (collectively, the “Buyer Related Parties”) for all damages, costs, fees, expenses,
Liabilities, penalties or losses of any kind suffered as a result of or in connection with this Agreement (including the negotiation, execution, performance or breach thereof), the failure of the Transactions to be consummated or otherwise, and upon
payment of such amount, none of the Buyer Related Parties shall have any further Liability or obligation relating to or arising out of this Agreement or the Transactions under any theory of law or equity, contract, tort or otherwise. 

Section 11.06. Assignment; Benefit. 

(a) This Agreement shall not be assigned by any of the parties hereto (whether by operation of law or otherwise) without the prior written
consent of the other parties (other than any assignment made for collateral security purposes in connection with the Debt Financing); provided, that Buyer, upon prior written notice to Seller and Parent, may assign, in its sole discretion,
any or all of its rights, interests and obligations under this Agreement to any direct or indirect wholly-owned Subsidiary of Buyer; provided, further, that no such assignment shall relieve Buyer of any of its obligations hereunder.
Notwithstanding the foregoing, after the Closing, Buyer may assign any or all of its rights, interests and obligations under this Agreement to any Person or Persons that acquires Bolt, the Bolt Interest or Velocity. 

(b) Notwithstanding anything contained in this Agreement to the contrary, nothing in this Agreement, expressed or implied, is intended to
confer on any Person other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except (i) the Indemnified Parties shall be express
third-party beneficiaries of Article 10 (Indemnification), (ii) the provisions of Section 7.09 (D&O Coverage) and Section 11.02 (Survival) shall inure to the benefit of the Persons or
entities benefiting therefrom who are expressly intended to be third-party beneficiaries thereof and who may enforce the covenants contained therein, (iii) the Seller-Related Parties shall be express third-party beneficiaries of
Section 11.04(h) and the Buyer Related Parties shall be express third-party beneficiaries of Section 11.05(c), and (iv) the Financing Sources shall be express third-party beneficiaries of
Sections 9.03, 11.03, 11.07, 11.08, 11.09 and this Section 11.06(b). 

  
 85 

 Section 11.07. Governing Law. This Agreement and any Proceedings arising out of or
related hereto or to the Transactions or to the inducement of any party hereto to enter into this Agreement, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed
by and construed in accordance with the laws of the State of Delaware, including all matters of construction, validity and performance, without regard to the conflicts of law rules of such State that would refer a matter to the laws of another
jurisdiction. Notwithstanding the foregoing, claims and actions that may be based upon, arise out of, or relate to, the Debt Financing or involve the Financing Sources shall be governed by and construed in accordance with the 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 jurisdiction) that would cause the application of the law of any jurisdiction other than the State of New York.

 Section 11.08. Jurisdiction. The parties hereto agree that any Proceeding seeking to enforce any provision of, or based on
any matter arising out of or in connection with, this Agreement or the Transactions shall be brought in the Chancery Court of the State of Delaware located in Wilmington, Delaware and any state appellate court therefrom located in Wilmington,
Delaware, or, if no such state court has proper jurisdiction, the Federal District Court for the District of Delaware located in Wilmington, Delaware, and any appellate court therefrom, or if such federal court does not have jurisdiction, any court
of the State of Delaware having jurisdiction and located in Wilmington, Delaware, and any appellate court therefrom. Each party hereby irrevocably submits to the exclusive jurisdiction of such court in respect of any legal or equitable Proceeding
arising out of or relating to this Agreement or the Transactions, or relating to enforcement of any of the terms of this Agreement, and hereby waives, and agrees not to assert, as a defense in any such Proceeding, any claim that it is not subject
personally to the jurisdiction of such court, that the Proceeding is brought in an inconvenient forum, that the venue of the Proceeding is improper or that this Agreement or the Transactions may not be enforced in or by such courts. Each party
agrees that notice or the service of process in any Proceeding arising out of or relating to this Agreement or the Transactions shall be properly served or delivered if delivered in the manner contemplated by Section 11.01
or in any other manner permitted by applicable Law. Notwithstanding the foregoing, each of the parties hereto hereby agrees that it will not bring or support any action, cause of action, claim, cross-claim or third-party claim of any kind or
description, whether in law or in equity, whether in contract or in tort or otherwise, against the Financing Sources in any way relating to this Agreement, the Debt Commitment Letter, or any of the transactions contemplated hereby or thereby,
including, without limitation, any dispute arising out of or relating in any way to the Debt Financing or the performance thereof, in any forum other than the Supreme Court of the State of New York, County of New York, or, if under applicable law
exclusive jurisdiction is vested in the federal courts, the United States District Court for the Southern District of New York (and the appellate courts thereof), and that the provisions of Section 11.09 relating to the
waiver of jury trial shall apply to any such action, cause of action, claim, cross-claim or third-party claim. 
 Section 11.09.
Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING OR COUNTERCLAIM (WHETHER BASED IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT
OR THE TRANSACTIONS, OR THE ACTIONS OF ANY PARTY HERETO IN NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF. 

  
 86 

 Section 11.10. Specific Performance; Remedies. 

(a) Subject to Section 11.05, Section 11.10(b) and
Section 11.10(c), the parties hereto agree that irreparable damage would occur and that the parties would not have any adequate remedy at law in the event that any of the provisions of this Agreement were not performed in
accordance with their specific terms or were otherwise breached, except as expressly provided in the following sentence. It is accordingly agreed, subject to Section 11.05, Section 11.10(b) and
Section 11.10(c), that the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Chancery Court
of the State of Delaware located in Wilmington, Delaware and any state appellate court therefrom located in Wilmington, Delaware, or, if no such state court has proper jurisdiction, the Federal District Court located in Wilmington, Delaware, and any
appellate court therefrom, or if such federal court does not have jurisdiction, any court of the State of Delaware having jurisdiction and located in Wilmington, Delaware, and any appellate court therefrom, and, in any action for specific
performance, each party waives the defense of adequacy of a remedy at law and waives any requirement for the securing or posting of any bond in connection with such remedy, this being in addition to any other remedy to which they are entitled at law
or in equity (subject to the limitations set forth in this Agreement). Subject to Section 11.10(c), the parties hereto further agree that (i) by seeking the remedies provided for in this
Section 11.10, a party shall not in any respect waive its right to seek any other form of relief that may be available to a party under this Agreement (including monetary damages) for breach of any of the provisions of this
Agreement or in the event that this Agreement has been terminated in the event that the remedies provided for in this Section 11.10 are not available or otherwise are not granted, and (ii) nothing set forth in this
Section 11.10 shall require any party hereto to institute any Proceeding for (or limit any party’s right to institute any Proceeding for) specific performance under this Section 11.10 prior or
as a condition to exercising any termination right under Article 9 (and pursuing damages after such termination), nor shall the commencement of any Proceeding pursuant to this Section 11.10 or anything set forth in
this Section 11.10 restrict or limit any party’s right to terminate this Agreement in accordance with the terms of Article 9 or pursue any other remedies under this Agreement that may be available at any time.

 (b) Seller shall be entitled, without posting any bond and without proving that monetary damages would be inadequate, to an injunction or
injunctions to enforce specifically the Closing in accordance with Section 2.01, in each case on the terms and subject to the conditions in this Agreement (including specifically enforcing Buyer’s obligation to cause
the Equity Commitment Letter to be funded) only in the event that (i) all of the conditions in Section 8.01 and Section 8.02 (other than those conditions that by their nature are to be
satisfied at the Closing) have been satisfied or waived in writing, (ii) Buyer fails to complete the Closing by the date the Closing is required to have occurred in accordance with the provisions of Section 2.01, (iii)
the Debt Financing (or the Alternative Financing, if Alternative Financing is being used in accordance with Section 7.13(b), pursuant to the commitments with respect thereto) has been funded or will be funded at the Closing
if the Equity Financing is funded at the Closing and (iv) Seller and Parent have irrevocably confirmed in writing that if specific performance is granted and the Debt Financing (or the Alternative Financing, if Alternative Financing is being
used in accordance with Section 7.13(b), pursuant to the commitments with respect thereto) and the Equity Financing are funded, then the Closing will occur. 

  
 87 

 (c) For the avoidance of doubt, while Seller may pursue both a grant of specific performance
under this Section 11.10 and the payment of the Buyer Termination Fee under Section 11.05, under no circumstances shall Seller be permitted or entitled to receive both a grant of specific
performance and monetary damages in connection with this Agreement or any termination of this Agreement, including all or any portion of the Buyer Termination Fee. 

Section 11.11. Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired
or invalidated so long as the economic or legal substance of the Transactions is not affected in any manner materially adverse to any party. Upon such a determination, the parties agree to negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in an acceptable manner, in order that the Transactions be consummated as originally contemplated to the fullest extent possible. 

Section 11.12. Entire Agreement. This Agreement, the Confidentiality Agreement, the Representative Side Letter, the exhibits to
this Agreement, the Seller Disclosure Schedules, the Bolt Schedule, the Parent Indemnity Schedule, the Efforts Schedule and any documents delivered by the parties hereto in connection herewith, including the Debt Commitment
Letter, the Equity Commitment Letter and the Sponsor Guarantee, constitute the entire agreement among the parties hereto with respect to the subject matter hereof and supersede all prior agreements and understandings, both written and oral, among
the parties with respect thereto. 
 Section 11.13. Rules of Construction. Each of the parties hereto acknowledges that
it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party hereto and its counsel
cooperated and participated in the drafting and preparation of this Agreement and the documents referred to herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may
not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement, the exhibits to this Agreement, the Seller
Disclosure Schedules, the Bolt Schedule, the Parent Indemnity Schedule, the Efforts Schedule and any documents delivered by the parties hereto in connection herewith, including the Debt Commitment Letter, the Equity Commitment
Letter and the Sponsor Guarantee, against any party hereto that drafted or prepared such document is of no application and is hereby expressly waived by each of the parties hereto, and any controversy over interpretations of this Agreement or any
such document shall be decided without regards to events of drafting or preparation. 

  
 88 

 Section 11.14. Counterparts; Effectiveness. This Agreement may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become 

effective as of the date hereof, it being understood and agreed that all parties hereto need not sign the same counterpart. Until and unless each party hereto
has received a counterpart hereof signed by each other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).
Signatures to this Agreement transmitted by facsimile transmission, by electronic mail in PDF form, or by any other electronic means designed to preserve the original graphic and pictorial appearance of a document, will be deemed to have the same
effect as physical delivery of the paper document bearing the original signatures. 
 Section 11.15. Parent Guarantee. Parent
agrees to take all action necessary to cause Seller to perform all of its agreements, covenants and obligations under this Agreement. Parent unconditionally guarantees to Buyer and, following the Closing, the Company, the full and complete
performance by Seller of Seller’s obligations under this Agreement (including with respect to payment of the Termination Fee and Buyer Expenses, if and when payable) and shall be liable for any breach of any representation, warranty, covenant
or obligation of Seller under this Agreement. This is a guarantee of payment and performance and not of collectability. Parent hereby waives diligence, presentment, demand of performance, filing of any claim, any right to require any proceeding
first against Seller, protest, notice and all demands whatsoever in connection with the performance of its obligations set forth in this Section 11.15. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 89 

 CONFIDENTIAL 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day
and year first above written. 
  

	
	Actua Corporation
	
	By: /s/ Suzanne L. Niemeyer           
	Name: Suzanne L. Niemeyer
	Title:   General Counsel
	
	Actua Holdings, Inc.
	
	By: /s/ Suzanne L. Niemeyer           
	Name: Suzanne L. Niemeyer
	Title:   General Counsel
	
	Arsenal Acquisition Holdings, LLC
	
	By: /s/ Suzanne L. Niemeyer           
	Name: Suzanne L. Niemeyer
	Title:   General Counsel

 Signature Page to Membership Interest Purchase Agreement 

  

 
			
	ARSENAL BUYER INC.

 
			
		
	By:	 	 /s/ Aaron Dupuis

	Name:	 	Aaron Dupuis
	Title:	 	President

 Signature Page to Membership Interest Purchase AgreementEX-10.2

 Exhibit 10.2 

Execution Version 

AGREEMENT AND PLAN OF MERGER 

dated as of 
 September 25, 2017

 among 
 ENVESTNET, INC.,

 FCD MERGER SUB, INC., 

FOLIO DYNAMICS HOLDINGS, INC. 

and 
 ACTUA USA
CORPORATION 
 (as the Representative) 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS
	  	 	1	 
			
	         Section 1.01.
	 	 Definitions
	  	 	1	 
	         Section 1.02.
	 	 Other Definitional and Interpretative Provisions
	  	 	15	 
		
	 ARTICLE 2 THE MERGER
	  	 	16	 
			
	 Section 2.01.
	 	The Merger	  	 	16	 
	 Section 2.02.
	 	Closing; Effective Time; Closing Deliveries	  	 	16	 
	 Section 2.03.
	 	Certificate of Incorporation; Bylaws; Directors and Officers	  	 	16	 
	 Section 2.04.
	 	Conversion of Common Stock	  	 	17	 
	 Section 2.05.
	 	Closing Deliverables	  	 	17	 
	 Section 2.06.
	 	Payment of Closing Merger Consideration	  	 	19	 
	 Section 2.07.
	 	Stock Options	  	 	21	 
	 Section 2.08.
	 	Appraisal Rights	  	 	21	 
	 Section 2.09.
	 	Post-Closing Statement	  	 	21	 
	 Section 2.10.
	 	Withholding	  	 	24	 
		
	 ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	 	24	 
			
	 Section 3.01.
	 	Corporate Existence and Power	  	 	25	 
	 Section 3.02.
	 	Corporate Authorization	  	 	25	 
	 Section 3.03.
	 	Governmental Authorization	  	 	25	 
	 Section 3.04.
	 	Noncontravention	  	 	25	 
	 Section 3.05.
	 	Capitalization	  	 	26	 
	 Section 3.06.
	 	Subsidiaries	  	 	27	 
	 Section 3.07.
	 	Financial Statements	  	 	27	 
	 Section 3.08.
	 	Absence of Certain Changes	  	 	28	 
	 Section 3.09.
	 	No Undisclosed Material Liabilities	  	 	29	 
	 Section 3.10.
	 	Material Contracts	  	 	30	 
	 Section 3.11.
	 	Litigation	  	 	32	 
	 Section 3.12.
	 	Compliance with Laws and Court Orders	  	 	32	 
	 Section 3.13.
	 	Regulatory	  	 	32	 
	 Section 3.14.
	 	Investment Advisory Clients; Investment Advisory Contracts	  	 	33	 
	 Section 3.15.
	 	Properties	  	 	34	 
	 Section 3.16.
	 	Intellectual Property	  	 	35	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 3.17.
	 	Insurance Coverage	  	 	40	 
	 Section 3.18.
	 	Licenses and Permits	  	 	40	 
	 Section 3.19.
	 	Finders’ Fees	  	 	41	 
	 Section 3.20.
	 	Labor Matters	  	 	41	 
	 Section 3.21.
	 	Employee Benefit Plans	  	 	42	 
	 Section 3.22.
	 	Environmental Matters	  	 	44	 
	 Section 3.23.
	 	Affiliate Transactions	  	 	44	 
	 Section 3.24.
	 	Taxes	  	 	45	 
	 Section 3.25.
	 	Customers	  	 	47	 
	 Section 3.26.
	 	Suppliers	  	 	47	 
	 Section 3.27.
	 	Disclaimer of Representations and Warranties	  	 	47	 
		
	 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUBSIDIARY
	  	 	48	 
			
	 Section 4.01.
	 	Corporate Existence and Power	  	 	48	 
	 Section 4.02.
	 	Corporate Authorization	  	 	48	 
	 Section 4.03.
	 	Governmental Authorization	  	 	48	 
	 Section 4.04.
	 	Noncontravention	  	 	48	 
	 Section 4.05.
	 	Litigation	  	 	49	 
	 Section 4.06.
	 	Finders’ Fees	  	 	49	 
	 Section 4.07.
	 	Solvency	  	 	49	 
	 Section 4.08.
	 	Availability of Funds	  	 	49	 
	 Section 4.09.
	 	Non-Reliance on Estimates, Projections, Forecasts, Forward-Looking Statements and Business Plans	  	 	49	 
	 Section 4.10.
	 	No Other Representations or Warranties	  	 	50	 
		
	 ARTICLE 5 COVENANTS OF THE COMPANY
	  	 	50	 
			
	 Section 5.01.
	 	Conduct of the Company	  	 	50	 
	 Section 5.02.
	 	Access to Information; Confidentiality	  	 	52	 
	 Section 5.03.
	 	Notices of Certain Events	  	 	53	 
	 Section 5.04.
	 	Resignations	  	 	54	 
	 Section 5.05.
	 	Exclusivity	  	 	54	 
	 Section 5.06.
	 	Financial Statements	  	 	54	 
	 Section 5.07.
	 	Investment Advisory Clients; Investment Advisory Contracts	  	 	56	 
	 Section 5.08
	 	401(k) Profit Sharing Plan	  	 	56	 

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE 6 COVENANTS OF PARENT
	  	 	57	 
			
	 Section 6.01.
	 	Confidentiality	  	 	57	 
	 Section 6.02.
	 	Maintenance of Records; Access	  	 	57	 
	 Section 6.03.
	 	Obligations of Merger Subsidiary	  	 	58	 
	 Section 6.04.
	 	Indemnification; D&O Insurance	  	 	58	 
	 Section 6.05.
	 	Financing	  	 	59	 
		
	 ARTICLE 7 COVENANTS OF PARENT AND THE COMPANY; MUTUAL COVENANTS
	  	 	59	 
			
	 Section 7.01.
	 	Commercially Reasonable Efforts; Further Assurances	  	 	59	 
	 Section 7.02.
	 	Certain Filings	  	 	59	 
	 Section 7.03.
	 	Public Announcements	  	 	59	 
	 Section 7.04.
	 	Notices and Consents	  	 	60	 
	 Section 7.05.
	 	Termination of Related Party Agreements; Intercompany Accounts; Intercompany Contracts	  	 	60	 
	 Section 7.06.
	 	Antitrust Notification	  	 	60	 
	 Section 7.07.
	 	Employee Matters	  	 	62	 
	 Section 7.08.
	 	Consent of Investment Advisory Clients	  	 	62	 
	 Section 7.09.
	 	R&W Policy	  	 	63	 
	 Section 7.10.
	 	Required Stockholder Approval	  	 	64	 
	 Section 7.11.
	 	606 Deliverables	  	 	64	 
		
	 ARTICLE 8 TAX MATTERS
	  	 	66	 
			
	 Section 8.01.
	 	Tax Covenants	  	 	66	 
	 Section 8.02.
	 	Cooperation On Tax Matters	  	 	68	 
	 Section 8.03.
	 	Net Operating Losses	  	 	68	 
	 Section 8.04.
	 	Aggregate Merger Consideration Adjustment And Interest	  	 	70	 
		
	 ARTICLE 9 CONDITIONS TO CLOSING
	  	 	70	 
			
	 Section 9.01.
	 	Conditions to Obligations of the Parties	  	 	70	 
	 Section 9.02.
	 	Conditions to Obligation of Parent and Merger Subsidiary	  	 	70	 
	 Section 9.03.
	 	Conditions to Obligation of the Company	  	 	71	 
	 Section 9.04.
	 	Frustration of Conditions to Closing	  	 	72	 

  
 iii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE 10 SURVIVAL; INDEMNIFICATION
	  	 	72	 
			
	 Section 10.01.
	 	Survival	  	 	72	 
	 Section 10.02.
	 	Indemnification	  	 	73	 
	 Section 10.03.
	 	Procedures	  	 	76	 
	 Section 10.04.
	 	Calculation of Damages	  	 	77	 
	 Section 10.05.
	 	Exclusivity	  	 	78	 
		
	 ARTICLE 11 TERMINATION
	  	 	78	 
			
	 Section 11.01.
	 	Grounds for Termination	  	 	78	 
	 Section 11.02.
	 	Effect of Termination	  	 	79	 
		
	 ARTICLE 12 REPRESENTATIVE
	  	 	80	 
			
	 Section 12.01.
	 	Designation and Replacement of Representative	  	 	80	 
	 Section 12.02.
	 	Authority and Rights of Representative; Limitations on Liability	  	 	80	 
	 Section 12.03.
	 	Representative Fund	  	 	81	 
		
	 ARTICLE 13 MISCELLANEOUS
	  	 	82	 
			
	 Section 13.01.
	 	Notices	  	 	82	 
	 Section 13.02.
	 	Amendments and Waivers	  	 	83	 
	 Section 13.03.
	 	Disclosure Schedule References	  	 	84	 
	 Section 13.04.
	 	Expenses	  	 	84	 
	 Section 13.05.
	 	Successors and Assigns	  	 	84	 
	 Section 13.06.
	 	Governing Law	  	 	84	 
	 Section 13.07.
	 	Jurisdiction	  	 	84	 
	 Section 13.08.
	 	WAIVER OF JURY TRIAL	  	 	85	 
	 Section 13.09.
	 	Counterparts; Effectiveness; Third Party Beneficiaries	  	 	85	 
	 Section 13.10.
	 	Entire Agreement	  	 	85	 
	 Section 13.11.
	 	Severability	  	 	85	 
	 Section 13.12.
	 	Specific Performance	  	 	86	 
	 Section 13.13.
	 	No Conflict	  	 	86	 
	 Section 13.14.
	 	No Waiver of Privilege; Protection from Disclosure or Use	  	 	86	 
	 Section 13.15.
	 	Transaction Privileged Communications	  	 	86	 

  
 iv 

 LIST OF EXHIBITS 

Exhibit A – Form of Escrow Agreement 
 Exhibit B – Form
of Payment Agent Agreement 
 Exhibit C – Form of Representative Side Letter 

Exhibit D – Client Net Revenue 
 Exhibit E – Form of
Letter of Transmittal 
 Exhibit F – Consent Notice 

Exhibit G – [RESERVED] 
 Exhibit H – Form of Certificate
of Merger 
 Exhibit I – Certificate of Incorporation 

Exhibit J – Form of Noncompetition and Nonsolicitation Agreement 

  
 -v- 

 AGREEMENT AND PLAN OF MERGER 

AGREEMENT AND PLAN OF MERGER (this “Agreement”) dated as of September 25, 2017 among Envestnet, Inc., a Delaware corporation
(“Parent”), FCD MERGER SUB, INC., a Delaware corporation and a wholly-owned subsidiary of Parent (“Merger Subsidiary”), FOLIO DYNAMICS HOLDINGS, INC., a Delaware corporation (the
“Company”), and ACTUA USA CORPORATION, a Delaware corporation, solely in its capacity as the representative of the Stockholders (the “Representative”). 

W I T N E S S E T H: 

WHEREAS, upon and subject to the terms and conditions of this Agreement, Parent desires to acquire the Company pursuant to a transaction in
which Merger Subsidiary will merge with and into the Company, with the Company surviving the merger as a wholly-owned subsidiary of Parent, in accordance with the DGCL (as defined below); 

WHEREAS, each of the Board of Directors of the Company (the “Company Board”) and the Board of Directors of the Merger
Subsidiary have approved and deemed it advisable that the respective stockholders of the Company and Merger Subsidiary approve and adopt this Agreement and the transactions contemplated hereby; and 

WHEREAS, in connection with the Merger, (a) the outstanding shares of the Company’s capital stock will be converted into the right
to receive the Merger consideration described in this Agreement and (b) all outstanding stock options of the Company will be cancelled, all in accordance with the terms of this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements contained herein, the
mutual benefits to be gained by the performance thereof, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and accepted, the parties hereto, intending to be legally bound, agree as follows:

 ARTICLE 1 

DEFINITIONS 

Section 1.01.    Definitions 

(a)    The following terms, as used herein, have the following meanings: 

“1933 Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

“1934 Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

“1940 Act” means the U.S. Investment Company Act of 1940. 

“Accounting Policies” means GAAP using the same accounting policies, principles, practices and methodologies used in the
preparation of the Financial Statements. 

  
 -1- 

 “Accounting Representative” means Kirk Morgan or, if designated by
Representative, another employee of Representative and its Affiliates with similar duties and responsibilities. 
 “Actua”
means Actua Corporation. 
 “Advisor” means FDx Advisors, Inc., a California corporation and wholly owned subsidiary of
the Company. 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling,
controlled by, or under common control with such Person. For purposes of this definition, “control” when used with respect to any Person means the power to direct or cause the direction of the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by Contract or otherwise, and the terms “controlling” and “controlled” have correlative meanings. 

“Aggregate Merger Consideration” means (i) the Closing Merger Consideration, plus or minus, as the case
may be, (ii) the Merger Consideration Adjustment Amount, plus (iii) the Escrow Amount, plus (iv) the Representative Fund Amount, in each case, payable to the Stockholders and subject to adjustment pursuant to the terms
hereof. 
 “AIG NBIL” means that non-binding indication letter from AIG, dated September 20, 2017, attached to this
Agreement as Annex A. 
 “Allocable Percentage” means, with respect to each Stockholder, the relative percentage of
(i) the Merger Consideration Adjustment Amount, Escrow Amount and Representative Fund Amount payable to such Stockholder and (ii) such Stockholder’s indemnification obligation pursuant to Section 10.02, as
applicable, in each case, which percentage is (A) calculated as (x) the aggregate number of Fully-Diluted Shares held by such Stockholder, divided by (y) the aggregate number of Fully-Diluted Shares held by all
Stockholders and (B) set forth on the Payment Schedule. 
 “Anti-Corruption Laws” means the U.S. Foreign Corrupt
Practices Act of 1977, as amended, and any other Applicable Law relating to anti-corruption, bribery or other similar matters. 

“Applicable Law” means, with respect to any Person, any transnational, domestic or foreign federal, state or local law (in
each case, statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental
Authority that is binding upon or applicable to such Person, as amended unless expressly specified otherwise. 
 “Balance
Sheet” means the unaudited consolidated balance sheet of the Company and the Subsidiaries as of the Balance Sheet Date. 

“Balance Sheet Date” means June 30, 2017. 

“Base Closing Consideration” means $195,000,000. 

  
 -2- 

 “Business Day” means a day, other than Saturday, Sunday or other day on which
commercial banks in New York, New York are authorized or required by Applicable Law to close. 
 “Client Closing Consent
Amount” means an amount equal to (i) the percentage of aggregate Client Net Revenue with respect to which the Company has obtained Consents, multiplied by (ii) 100. For purposes of calculating Final Merger Consideration
and the Client Consent Adjustment Amount included therein (but not the Estimated Client Consent Adjustment Amount), the Client Closing Consent Amount (x) shall take into account any Consents received (A) with respect to any Affirmative
Consent Contracts, on or prior to the date that is thirty (30) days after the Closing Date and (B) with respect to Contracts set forth on Schedule 1.01(a), on or prior to the date indicated as the “Cut Off Date” in
the table therein and (y) shall not be less than the Estimated Client Consent Adjustment Amount. 
 “Client Consent Adjustment
Amount” means (i) if the Client Closing Consent Amount is equal to or greater than 95, zero and (ii) if the Client Closing Consent Amount is less than 95, an amount equal to (A) $3,000,000, multiplied by
(B) the difference between 95 and the Client Closing Consent Amount; provided that the Client Consent Adjustment Amount shall not exceed $30,000,000. 

“Client Net Revenue” means, for each client of the Company (including Investment Advisory Clients) that is party to a
Contract that is in effect and to which the Company or any of its Subsidiaries is bound as of the date hereof, the amount set forth next to the name of such client on Exhibit D (it being understood that any amount set forth under the heading
“Advisory” shall relate to the Investment Advisory Contract(s) with the applicable client and any amounts set forth under “Technology” and “Prof Svcs” shall relate to any other Contract with the applicable client). 

“Closing Cash” means, as of the Closing Measurement Time (disregarding, for the sake of clarity, the effects of the
transactions contemplated by this Agreement to occur at the Closing), all cash, cash equivalents and marketable securities of the Company and its Subsidiaries on a consolidated basis, in each case, determined in accordance with the Accounting
Policies. For the sake of clarity, Closing Cash shall be calculated net of issued, but uncleared, checks and drafts and shall include checks, ACH transactions and other wire transfers and drafts deposited or available for deposit for the
account of the Company and its Subsidiaries, in each case as of the Closing Measurement Time. 
 “Closing Common Per Share Merger
Consideration” means, with respect to each share of Common Stock (and as set forth on the Payment Schedule), the quotient obtained by dividing (i) the Closing Merger Consideration by (ii) the aggregate number of Fully-Diluted
Shares held by all Stockholders. 
 “Closing Date” means the date of the Closing. 

“Closing Indebtedness” means all Indebtedness of the Company and the Subsidiaries as of the Closing Measurement Time. 

  
 -3- 

 “Closing Measurement Time” means 11:59 p.m. Eastern Time on the date
immediately prior to the Closing Date. 
 “Closing Merger Consideration” means (i) the Base Closing Consideration,
plus (ii) the Estimated Closing Cash, minus (iii) the sum of (A) the Estimated Unpaid Transaction Expenses and (B) the aggregate amount of Estimated Closing Indebtedness, minus (iv) the Escrow Amount,
minus (v) the Representative Fund Amount, and either (vi) (A) plus the amount by which the Estimated Working Capital exceeds the Working Capital Target or (B) minus the amount by which the Working
Capital Target exceeds the Estimated Working Capital; provided that Closing Merger Consideration shall only take into account any differences between Estimated Working Capital and the Working Capital Target to the extent (x) Estimated
Working Capital exceeds the Working Capital Target by more than $100,000 or (y) the Working Capital Target exceeds Estimated Working Capital by more than $100,000, minus (vii) the Estimated Client Consent Adjustment Amount. 

“Closing Working Capital” means (i) the total current assets of the Company and the Subsidiaries (excluding Closing
Cash), minus (ii) the total current liabilities of the Company and the Subsidiaries (excluding Closing Indebtedness), in each case, consistent with the line-items for current assets and current liabilities set forth on the Illustrative
Working Capital Statement. For each of clauses (i) and (ii), the amounts shall be calculated as of the Closing Measurement Time, determined as set forth in the Illustrative Working Capital Statement and in accordance with the
Accounting Policies. For the avoidance of doubt, any settlement of the matters described on Section 5.01 of the Company Disclosure Schedules that is not paid as of the Closing Measurement Time shall constitute a current liability of the
Company and the Subsidiaries for purposes of determining Closing Working Capital if and to the extent that Closing Working Capital does not reflect a corresponding reserve for such liability or matter. Notwithstanding the foregoing, “Closing
Working Capital” shall not include (w) current or deferred Tax assets, (x) current or deferred Tax liabilities, (y) deferred revenue, or (z) any earnout payments under the Asset Purchase Agreement dated as of
September 30, 2016 by and among SAS Capital Management, LLC, FDx Advisors, Inc. and Actua, including the Buyout Payment (as such term is defined in such asset purchase agreement). 

“Code” means the Internal Revenue Code of 1986, as amended, the rules and regulations promulgated thereunder and any
successor law. 
 “Common Per Share Merger Consideration” means, with respect to each share of Common Stock, (i) the
Closing Common Per Share Consideration payable in respect of such share of Common Stock in the Merger, plus (ii) the amount of the Allocable Percentage of the Merger Consideration Adjustment Amount, Escrow Amount and Representative Fund
Amount attributable to such share of Common Stock. 
 “Common Stock” means the Common Stock, par value $0.001 per share,
of the Company. 
 “Company Charter” means the Company’s Amended and Restated Certificate of Incorporation, as filed
with the Secretary of State of the State of Delaware on October 23, 2014. 
 “Company Disclosure Schedules” means the
disclosure schedules dated as of the date of this Agreement delivered by the Company to Parent in connection with the execution of this Agreement. 

  
 -4- 

 “Company Software” means each Software program that (i) is material to the
operation of the Company and its Subsidiaries, (ii) is distributed, sold, licensed, marketed or otherwise provided to third parties by the Company or any of its Subsidiaries or (iii) is owned or purportedly owned by the Company or any
Subsidiary. 
 “Company Systems” means all of the following owned, used or licensed by the Company or any Subsidiary or on
behalf of the Company or any Subsidiary: computers, computer systems, servers, hardware, software, firmware, co-location facilities and equipment, and all other information technology equipment and services,
including any outsourced systems and processes (e.g., hosting locations) and all associated documentation that is, in each case, material to the operation of the Company and its Subsidiaries. 

“Consent” means, (i) with respect to any Affirmative Consent Contract, the written consent contemplated by
Section 7.08(b), (ii) with respect to any Negative Consent Contract, the written consent or deemed consent contemplated by Section 7.08(c), and (iii) with respect to any Contract set forth on
Schedule 7.08(d), the written or deemed consent or waiver contemplated by Section 7.08(d). The Company shall be deemed to have received a Consent with respect to (A) any Contract (1) to which the Company or
any of its Subsidiaries is bound, (2) that is not referenced in clauses (i) through (iii) of this definition, (3) for which no consent to the transactions contemplated hereby is required under such Contract and (4) the
transactions contemplated hereby do not explicitly give rise to any termination right in favor of the counterparty to such Contract and (B) any Contract listed on Schedule 1.01(b). 

“Contract” means, with respect to any particular Person, any written or oral contract, agreement, commitment, note, bond,
pledge, lease, license mortgage, guaranty, indenture, option, instrument, obligation or commitment that is binding on such Person, including any amendments and supplements thereto. 

“Covered Matters” means all Company Warranty Breaches other than those Company Warranty Breaches that are Express
Exclusions. 
 “DGCL” means the General Corporation Law of the State of Delaware. 

“Environmental Laws” means any Applicable Law or any legally binding agreement with any Governmental Authority, relating to
human health and safety, the environment or any toxic or hazardous substance, waste or material. 
 “Environmental
Permits” means all permits, licenses, franchises, certificates, approvals and other similar authorizations of Governmental Authorities relating to or required by Environmental Laws and affecting, or relating in any material way to, the
business of the Company or any Subsidiary. 
 “Equity Incentive Plan” means the Folio Dynamics Holdings, Inc. 2014 Equity
Compensation Plan. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended and the rules and
regulations promulgated thereunder. 
 “ERISA Affiliate” of any entity means any other entity which, together with such
entity, would be treated as a single employer under Section 414 of the Code. 

  
 -5- 

 “Escrow Agent” means JPMorgan Chase Bank, National Association. 

“Escrow Agreement” means an escrow agreement to be entered into among the Escrow Agent, Parent and the Representative in
substantially the form attached hereto as Exhibit A, with such customary changes as may be reasonably requested by the Escrow Agent so long as such changes are consistent with this Agreement. 

“Escrow Amount” means the sum of the Working Capital Escrow Amount and the Indemnification Escrow Amount. 

“Excluded Shares” means (i) shares of Common Stock held in the treasury of the Company or otherwise held by the Company
or any Subsidiary and (ii) shares of Common Stock held by Parent, Merger Subsidiary or any other Affiliate of Parent. 

“Existing Credit Agreement” means that certain Second Amended and Restated Credit Agreement, dated as of July 18, 2017,
by and among Parent, the guarantors from time to time a party thereto, the lenders from time to time party thereto, and Bank of Montreal, as administrative agent, BMO Capital Markets Corp., as sole lead arranger and sole book runner, Citizens Bank,
N.A. and Keybank National Association, as co-syndication agents, and Silicon Valley Bank, MUFG Union Bank, N.A., Associated Bank, N.A. and Regions Bank, as
co-documentation agents. 
 “Express Exclusions” means the express exclusions in
Sections 4(a) through 4(g) of the Model Policy (as defined in the AIG NBIL) and Section 8 of the AIG NBIL. 
 “Final Closing
Working Capital” means Closing Working Capital (i) as shown in the Closing Working Capital Statement, if no Calculation Notice indicating disagreement with respect thereto is duly delivered pursuant to
Section 2.09(b), or (ii) if such a Calculation Notice indicating disagreement therewith is delivered, (A) as agreed by the Representative and the Surviving Corporation pursuant to
Section 2.09(b) or (B) in the absence of such agreement, as shown in the Settlement Accountant’s calculation delivered pursuant to Section 2.09(c), provided that in no event shall
Final Closing Working Capital be less than the Surviving Corporation’s calculation of Closing Working Capital delivered pursuant to Section 2.09(a) or more than the Representative’s calculation of Closing Working
Capital delivered pursuant to Section 2.09(b). 
 “Final Merger Consideration” means the Closing
Merger Consideration as recalculated based on the Closing Working Capital, Unpaid Transaction Expenses, Closing Cash, Closing Indebtedness and Client Consent Adjustment Amount (calculated after taking into account any Consents received on or prior
to the date that is ninety (90) days following the Closing Date) set forth in the Final Calculation, in place of the Estimated Working Capital, Estimated Unpaid Transaction Expenses, Estimated Closing Cash, Estimated Closing Indebtedness and
Estimated Client Consent Adjustment Amount, respectively; provided that Final Merger Consideration shall only take into account any differences between Final Working Capital and the Working Capital Target to the extent (i) Final Working
Capital exceeds the Working Capital Target by more than $100,000 or (ii) the Working Capital Target exceeds Final Working Capital by more than $100,000. 

“Fully-Diluted Shares” means the total number of shares of Common Stock issued and outstanding immediately prior to the
Effective Time. 

  
 -6- 

 “GAAP” means generally accepted accounting principles in the United States of
America. 
 “Governmental Authority” means, with respect to any Person, any transnational, domestic or foreign federal,
state or local governmental, regulatory or administrative authority, department, court, agency or official, including any political subdivision or instrumentality thereof, any court or arbitrator that has proper jurisdiction over such Person, or any
quasi-governmental entity, including stock exchanges. 
 “Government Official” means (i) any executive, official,
employee or agent of a Governmental Authority, (ii) any director, officer, employee or agent of a wholly or partially government owned or controlled company or business, (iii) any political party or official thereof, or candidate for
political office, or (iv) any executive, official, employee or agent of a public international organization (e.g., the International Monetary Fund or the World Bank). 

“Hazardous Substances” means any pollutant, contaminant, waste or chemical or any toxic, radioactive, ignitable, corrosive,
reactive or otherwise hazardous substance, waste or material, or any substance, waste or material having any constituent elements displaying any of the foregoing characteristics, including petroleum, its derivatives,
by-products and other hydrocarbons, asbestos-containing materials and any substance, waste or material regulated under any Environmental Law. 

“HSR Act” means the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations
promulgated thereunder. 
 “Indebtedness” means, with respect to any Person, without duplication, the outstanding
principal amount of, accrued and unpaid interest on, and other payment obligations (including prepayment penalties, premiums, breakage costs, fees, bank overdrafts and other costs and expenses associated with prepayment of any indebtedness, or that
are payable as a result of the consummation of the Merger), (i) of such Person (A) for borrowed money (including overdraft facilities), (B) evidenced by notes, bonds, debentures or similar Contracts, (C) for the reimbursement of amounts
drawn on any letter of credit and in respect of bankers’ acceptances or similar transactions, (D) under or in respect of Contracts relating to interest rate protection, swap agreements and collar agreements, (E) under leases that are
or should be, in accordance with GAAP, recorded as capital lease for financial reporting purposes or (F) for the deferred purchase price of property or services (excluding any account or trade payables incurred in the ordinary course or
reflected in the Final Closing Working Capital) and (ii) of any other Person of the type described in clauses (A) through (F) above that are guaranteed by such Person, are recourse to such Person or any of such
Person’s assets or properties, secured in whole or in part by Liens on any of the assets or properties of such Person or are otherwise a legal liability of such Person. For the avoidance of doubt, Indebtedness shall include any earnout payments
under the Asset Purchase Agreement dated as of September 30, 2016 by and among SAS Capital Management, LLC, FDx Advisors, Inc. and Actua, including the Buyout Payment (as such term is defined in such asset purchase agreement). With respect to
the Company, Indebtedness excludes the Unpaid Transaction Expenses. 
 “Indemnification Escrow Amount” means an amount
equal to $975,000. 

  
 -7- 

 “Indemnification Escrow Fund” means the Indemnification Escrow Amount deposited
into escrow pursuant to the Escrow Agreement. 
 “Indemnified Taxes” means (i) all Taxes (a) of, attributable
to, or imposed on the Company or its Subsidiaries for any Pre-Closing Tax Period (other than Sales Taxes), or (b) of any Person imposed on the Company or any of its Subsidiaries as a transferee or
successor, by contract, pursuant to any law or otherwise, including pursuant to Treasury Regulations Section 1.1502-6 or any analogous or similar state, local or foreign Tax law, which Taxes relate to an
event or transaction occurring before or on the Closing Date but excluding any Tax arising from any action outside the ordinary course of business after the Closing or (ii) the Stockholders’ share of Transfer Taxes (as determined under
Section 8.01(b)). 
 “Intellectual Property Rights” means any and all intellectual property
rights throughout the world, including (i) inventions, whether or not patentable, reduced to practice or made the subject of one or more pending patent applications, (ii) national and multinational statutory invention registrations,
patents and patent applications (including all reissues, divisions, continuations, continuations-in-part, extensions and reexaminations thereof) registered or applied
for in the United States of America and all other nations throughout the world, all improvements to the inventions disclosed in each such registration, patent or patent application, (iii) trademarks, service marks, trade dress, logos, domain
names, trade names and corporate names (whether or not registered) in the United States of America and all other nations throughout the world, including all registrations and applications for registration of the foregoing and all goodwill associated
therewith, (iv) copyrights (whether or not registered) and registrations and applications for registration thereof in the United States of America and all other nations throughout the world, including all derivative works, moral rights,
renewals, extensions, reversions or restorations associated with such copyrights, now or hereafter provided by law, regardless of the medium of fixation or means of expression, (v) computer software (including source code, object code,
firmware, operating systems and specifications), (vi) trade secrets and confidential business information (including pricing and cost information, business and marketing plans and customer and supplier lists) and other proprietary information and know-how (including inventions, source code, algorithms, processes, recipes, formulae, business methods, supplier lists and customer lists, manufacturing and production processes and techniques and research and
development information), (vii) industrial designs (whether or not registered), (viii) databases and data collections, (ix) tangible embodiments of any of the foregoing, in whatever form or medium, and (x) any rights recognized under
applicable law that are equivalent or similar to any of the foregoing. 
 “Investment Advisers Act” means the
United States Investment Advisers Act of 1940. 
 “Investment Advisory Client” means any investment advisory
client for purposes of the Investment Advisers Act. 
 “Investment Advisory Contracts” means any contracts pursuant
to which the Adviser provides investment advisory services as an “investment adviser” within the meaning of the Investment Advisers Act. 

  
 -8- 

 “Knowledge” means, (i) with respect to the Company, the actual knowledge
of Joseph Mrak, Steve Dunlap, Mark Herman, Mark Davis and Shari Hensrud-Ellingson, as well as the knowledge such individuals would reasonably be expected to have after conducting a reasonable inquiry (which, with respect to Joseph Mrak, includes
inquiry of Lou D’Addario with respect to relevant sales matters), and (ii) with respect to Parent, means the actual knowledge of Judson Bergman, Peter D’Arrigo, Viggy Mokkarala and Matthew Majoros, after reasonable inquiry. 

“Liabilities” means any and all debts, liabilities, commitments and obligations of any kind or nature, whether accrued or
fixed, absolute or contingent, matured or unmatured, or determined or determinable. 
 “Lien” means, with respect to any
property or asset, any mortgage, lien, pledge, charge, security interest, license, encumbrance or other adverse claim of any kind in respect of such property or asset. For the purposes of this Agreement, a Person shall be deemed to own subject to a
Lien any property or asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such property or asset. 

“Material Adverse Effect” means changes, facts, circumstances, conditions, effects, developments or events that,
individually or in the aggregate, have had or would be reasonably expected to have a materially adverse effect on the business, assets, financial condition or results of operations of the Company and the Subsidiaries, taken as a whole, except any
such effect resulting from or arising in connection with (i) the announcement or pendency of this Agreement, the anticipated consummation of the Merger, the identity of the parties hereto or any of their respective Affiliates or the
announcement or disclosure by Parent of its plans with respect to the conduct of the Company’s business following the Effective Time, (ii) changes or conditions generally affecting any industry in which the Company or any Subsidiary
operates, (iii) changes in economic (including financial, banking and/or securities markets) or political conditions generally, (iv) changes in political or social conditions generally, including acts of war, sabotage or terrorism, or
military actions, or any escalation or worsening thereof, (v) seasonal or cyclical fluctuations affecting the Company or any Subsidiaries consistent with past fluctuations, (vi) changes in accounting requirements or principles under GAAP,
(vii) any failure by the Company or any Subsidiaries to meet any internal or published projections, forecasts, estimates or predictions in respect of revenues, earnings or any other financial or operating metrics for any period (it being
understood that the underlying cause of the failure to meet such projections, forecasts, estimates or predictions may be taken into account in determining whether a Material Adverse Effect has occurred to the extent not otherwise excluded by this
definition), (viii) changes in Applicable Law, (ix) actions taken by Parent or any of its Affiliates or at the request of Parent, or (x) earthquakes, floods, hurricanes, tornadoes, natural disasters or other “acts of God”;
provided that the items set forth in clauses (ii) through (iv) and clause (x) above shall be taken into account in determining whether a Material Adverse Effect has occurred to the extent that such event,
change, fact, circumstance, effect, or development adversely affects the Company or any Subsidiary in a disproportionate manner relative to other participants in any industry in which the Company or any Subsidiary operates. 

  
 -9- 

 “NOL Amount” means the amount of unused federal net operating losses of the
Company or its Subsidiaries as of the end of the Closing Date after application of all Treasury Regulations applicable to corporations filing consolidated Tax Returns including rules applicable to the Company no longer being a member of the same
group as Actua determined as required from time to time under this Agreement that are carried forward to the Company and its Subsidiaries’ federal tax year that begins the day immediately after the end of the Closing Date. 

“Options” means options to purchase shares of Common Stock granted under the Company’s Equity Incentive Plan that are
outstanding immediately prior to the Effective Time, whether vested or not. 
 “Owned Intellectual Property Rights” means
all Intellectual Property Rights owned or purported to be owned by either the Company or any Subsidiary. 
 “Payment
Agent” means JPMorgan Chase Bank, National Association. 
 “Payment Agent Agreement” means a payment agent
agreement to be entered into among the Payment Agent, Parent and the Representative in substantially the form attached hereto as Exhibit B, with such customary changes as may be reasonably requested by the Payment Agent so long as such
changes are consistent with this Agreement. 
 “Person” means an individual, corporation, partnership, limited liability
company, association, trust or other entity or organization, including a Governmental Authority. 
 “Personal Information”
means data that identifies or can be used to identify individuals either alone or in combination with other information which is in the possession or control of the Company or any Subsidiary, including a combination of an individual’s name,
address or phone number with any such individual’s username and password, social security number or other government-issued number, financial account number, date of birth, email address, any information that can be used to contact someone or
serve them with information or other personally identifiable information. 
 “Pre-Closing
Tax Period” shall mean all taxable years or other taxable periods ending on or prior to the Closing Date and the portion of any Straddle Period ending on the Closing Date. 

“Proceeding” means, with respect to any Person, (i) an action, suit, arbitration, claim, charge, complaint, audit,
proceeding or other litigation against such Person by or before any Governmental Authority or (ii) investigations of such Person by any Governmental Authority. 

“Publicly Available Software” means (i) any software that contains, or is derived in any manner (in whole or in part)
from, any software that is distributed as free software or open source software (for example, software distributed under the GNU General Public License, the GNU Lesser General Public License, the Affero General Public License, or the Apache Software
License), or pursuant to open source, copyleft or similar licensing and distribution models and (ii) any software that requires as a condition of use, modification and/or distribution of such software that such software or other software
incorporated into, derived from or distributed with such software (A) be disclosed or distributed in source code form, (B) be licensed for the purpose of making derivative works or (C) be redistributable at no or minimal charge. 

  
 -10- 

 “Representative Fund Amount” means $500,000. 

“Representative Side Letter” means that certain side letter in the form attached hereto as Exhibit C between Parent
and Representative, dated as of the Closing Date, pertaining to, among other things, the disclosure of certain financial information of the Company. 

“Retention Amount” means, at a given time, an amount equal to the aggregate amount of Damages that must then be retained by
the Parent Indemnified Parties under the R&W Policy before the insurance company issuing the R&W Policy is required to pay for any such Damages. For the avoidance of doubt, the “Retention Amount” shall give effect to any
“step-down” or reduction in such amount under the terms of the R&W Policy. 
 “R&W Policy” means a
representation and warranty insurance policy, including (i) the representation and warranty insurance policy contemplated by the AIG NBIL or (ii) such other representation and warranty insurance policy obtained in accordance with Section
7.09. 
 “Sales Taxes” means any sales or use taxes or other similar taxes that apply with respect to transactions
between the Company or any of its Subsidiaries and their customers, reduced by any reimbursement or recovery realized by the Company or any of its Subsidiaries from any such customer. 

“Sales Tax Cap” means $3,700,000. 

“SEC” means the United States Securities and Exchange Commission. 

“Software” means all computer software, firmware, programs, data and databases, in any form, including without limitation,
development tools, library functions, compilers, and platform and application software, whether in object code of source code format, and all documentation related thereto. 

“Stockholder Claim” means any Proceeding brought by any holder or former holder of any equity interest or option holder in
the Company or any Subsidiary (in their capacities as such), including, any representative or heir, arising out of or related to such equity holder’s ownership or former ownership of such equity interest in the Company, including claims for
appraisal rights, whether directly, derivatively, representatively or in any other capacity, against the Company or the Surviving Corporation, as the case may be, or any of their respective Subsidiaries or Affiliates (including any and all of its
and their respective past, present and/or future Affiliates, directors, officers, shareholders, members, partners, employees, fiduciaries, advisors, and agents, and each of their respective successors and assigns), in any way based upon, arising
from, relating to or involving, directly or indirectly, this Agreement or the Merger. 
 “Stockholders” means holders of
Common Stock immediately prior to the Effective Time. 

  
 -11- 

 “Straddle Period” shall mean any taxable period that includes, but does not end
on, the Closing Date. 
 “Subsidiary” means any (i) corporation, limited liability company, joint venture, trust or
other legal entity of which securities or other ownership interests having voting power to elect at least a majority of the board of directors, board of managers or other persons performing similar functions are directly or indirectly owned or
controlled by the Company or a subsidiary of the Company or (ii) any partnership of which the Company or a subsidiary of the Company is the general partner. 

“Tax” means any tax or similar assessment (including, for the avoidance of doubt, any state or local sales, use or property
taxes) imposed by a Taxing Authority, together with any interest, penalty, addition to tax or additional amount with respect thereto, in each case whether collected by withholding or otherwise. 

“Tax Analysis” means the sales Tax analysis of the Company and its Subsidiaries conducted by Parent and its Affiliates from
and after August 25, 2017 (including any information collection, study and audit and verification work, which may include analysis performed on and after the Closing Date). 

“Tax Contest” means any federal, state or local Tax audit, examination, refund claim, judicial proceeding or assessment.

 “Tax Return” means any Tax return, statement, report, election, declaration, work paper, disclosure, schedule or form
(including any estimated tax or information return or report) filed or required to be filed with any Taxing Authority. 
 “Taxing
Authority” means any governmental authority responsible for the imposition, determination, assessment or collection of any Tax. 

“Termination Fee” means $7,000,000. 

“Third Party Processor” means a third party provider or other third party that accesses, collects, stores, transmits,
transfers, processes, discloses or uses personally identifiable information on behalf of the Company or any Subsidiary. 

“Threshold” means an amount equal to $975,000. 

“Transfer Tax” means any transfer (including real estate transfer), documentary, sales, use, stamp, registration, value
added or other similar Tax (including any penalties and interest). 
 “Unpaid Transaction Expenses” means (i) all
fees, costs and expenses incurred by the Company or any Subsidiary in connection with the transactions contemplated by this Agreement (including the fees and expenses of any legal, financial and accounting advisors, consultants, experts or other
professionals engaged by or on behalf of the Company or any Subsidiary, but not including any Taxes or Liabilities for Taxes), (ii) all transaction bonuses, retention payments,
change-of-control payments, and other amounts payable to any employee of the Company or any Subsidiary as a result of this Agreement and the transactions contemplated by
this Agreement (and not as a result of a “double trigger” provision where the Closing is the 

  
 -12- 

 
first such trigger), (iii) all premiums and other costs and expenses associated with the directors’ and officers’ liability insurance policy or policies (i.e., “tail
coverage”) referenced in Section 6.04(b), and (iv) fifty percent (50%) of the fees and expenses of the Escrow Agent pursuant to the Escrow Agreement and of the Paying Agent pursuant to the Payment Agent Agreement,
in each case that have not been paid by the Company or any Subsidiary at or prior to the Closing Measurement Time. 
 “Working
Capital Escrow Amount” means $100,000. 
 “Working Capital Escrow Fund” means the Working Capital Escrow
Amount deposited into escrow pursuant to the Escrow Agreement. 
 “Working Capital Target” means $0. 

“Written Consent” means a written consent of the Stockholders constituting the Required Stockholder Approval. 

(b)    Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	 Term
	  	Section
	 606 Deliverables
	  	7.11(a)
	 606 Dispute Notice
	  	7.11(e)
	 606 Notice Conditions
	  	7.11(e)
	 Actua Holdings
	  	2.06(b)
	 Adjusted NOL Amount
	  	8.03(c)
	 Affirmative Consent Contracts
	  	7.08(b)
	 Agreement
	  	Preamble
	 AIG Policy
	  	7.09(a)
	 Alternative Policy
	  	7.09(b)
	 Anti-Money Laundering Laws
	  	3.14(e)
	 Calculation Notice
	  	2.09(b)
	 Cash Statement
	  	2.05(b)
	 Certificates
	  	2.06(b)
	 Certificate of Merger
	  	2.02(b)
	 Client Closing Consent Statement
	  	2.05(g)
	 Closing
	  	2.02(a)
	 Closing NOL Adjustment Amount
	  	8.03(a)
	 Closing NOL Amount
	  	8.03(a)
	 Commitment Letter
	  	4.08
	 Company
	  	Preamble
	 Company 606 Notice
	  	7.11(e)
	 Company Board
	  	Preamble
	 Company Indemnified Parties
	  	6.04(a)
	 Company Registered Intellectual Property
	  	3.16(a)
	 Company Representatives
	  	5.06
	 Company Securities
	  	3.05(c)
	 Company Warranty Breach
	  	10.02(a)(i)
	 Competing Transaction
	  	5.05

  
 -13- 

			
	 Term
	  	Section
	 Confidentiality Agreement
	  	5.02(b)
	 Consent Notice
	  	7.08(a)
	 Counsel
	  	13.15
	 Damages
	  	10.02(a)
	 Direct Claim
	  	10.03(e)
	 Dissenting Shares
	  	2.08
	 Effective Time
	  	2.02(b)
	 Employee Plans
	  	3.21(a)
	 End Date
	  	11.01(b)
	 Escrow Account
	  	2.06(a)(iv)
	 Escrow Termination Date
	  	10.01
	 Estimated Client Consent Adjustment Amount
	  	2.05(g)
	 Estimated Closing Cash
	  	2.05(b)
	 Estimated Closing Indebtedness
	  	2.05(a)
	 Estimated Unpaid Transaction Expenses
	  	2.05(c)
	 Estimated Working Capital
	  	2.05(f)
	 Exchange Act
	  	5.06(e)
	 Final Calculation
	  	2.09(b)
	 Financial Statements
	  	3.07(a)
	 Fundamental Representations
	  	10.01
	 Illustrative Working Capital Statement
	  	2.05(f)
	 Indebtedness Statement
	  	2.05(a)
	 Indemnified Party
	  	10.03(a)
	 Indemnifying Party
	  	10.03(a)
	 Information Systems
	  	3.16(h)
	 Initial Calculation
	  	2.09(a)
	 Interim Financial Statements
	  	5.06(a)
	 Interim NOL Adjustment Amount
	  	8.03(b)
	 Interim NOL Amount
	  	8.03(b)
	 Key Customers
	  	3.25
	 Key Suppliers
	  	3.26
	 Letter of Transmittal
	  	2.06(b)
	 Majority Holders
	  	12.01
	 Material Contract
	  	3.10(a)
	 Merger
	  	2.01(a)
	 Merger Consideration Adjustment Amount
	  	2.09(d)
	 Merger Subsidiary
	  	Preamble
	 Multiemployer Plan
	  	3.21(c)
	 Negative Consent Contracts
	  	7.08(c)
	 NOL Statement
	  	8.03(a)
	 Objection Notice
	  	2.09(b)
	 Parent
	  	Preamble
	 Parent Indemnified Parties
	  	10.02(a)
	 Parent Warranty Breach
	  	10.02(d)(i)

  
 -14- 

			
	 Term
	  	Section
	 Payment Schedule
	  	2.05(e)
	 Permits
	  	3.18
	 Permitted Liens
	  	3.15(a)
	 Policy Conditions
	  	7.09(a)
	 Post-Closing NOL Adjustment Amount
	  	8.03(c)
	 Privileged Communications
	  	13.15
	 Record Maintenance Period
	  	6.02(a)
	 Regulations S-X
	  	5.06(e)
	 Related Party
	  	3.23
	 Representative
	  	Preamble
	 Representative Fund
	  	2.06(a)(v)
	 Representative Losses
	  	12.02(b)
	 Required Stockholder Approval
	  	3.02
	 Section 7.09 Damages
	  	7.09(d)
	 Securities Act
	  	5.06(e)
	 Settlement Accountant
	  	2.09(c)
	 Stockholder Indemnified Parties
	  	10.02(d)
	 Stockholder Notice
	  	5.06
	 Subsidiary Securities
	  	3.06(b)
	 Surviving Corporation
	  	2.01(a)
	 Tax Contest
	  	8.01(e)
	 Third-Party Claim
	  	10.03(a)
	 Third Party Interests
	  	3.06(c)
	 Threshold
	  	10.02(b)
	 Unpaid Transaction Expenses Statement
	  	2.05(c)
	 WARN Act
	  	7.07(b)
	 Year End Financial Statements
	  	5.06(b)

 Section 1.02.    Other Definitional and Interpretative Provisions. The words
“hereof,” “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for
convenience of reference only and shall be ignored in the construction or interpretation hereof. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified.
All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein,
shall have the meaning as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words “include,” “includes” or “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation,” whether or not they are in fact followed by those words or words of like import. “Writing,” “written” and comparable
terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules or regulations
promulgated thereunder. References to any contract or agreement are to that contract or agreement as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof. References

  
 -15- 

 
to any Person include the successors and permitted assigns of that Person. References from or through any date mean, unless otherwise specified, from and including or through and including,
respectively. References to “law,” “laws” or to a particular statute or law shall be deemed also to include any and all Applicable Laws. All monetary figures shall be in United States dollars unless otherwise specified. 

ARTICLE 2 
 THE
MERGER 
 Section 2.01.    The Merger. 

(a)    Upon the terms and subject to the conditions hereof, at the Effective Time, Merger Subsidiary shall be merged with
and into the Company in accordance with the DGCL (the “Merger”), whereupon the separate existence of Merger Subsidiary shall cease, and the Company shall be the surviving corporation of the Merger (the “Surviving
Corporation”). 
 (b)    From and after the Effective Time, the Surviving Corporation shall possess all the
rights, powers, privileges and franchises and be subject to all of the obligations, liabilities, restrictions and disabilities of the Company and Merger Subsidiary, all as provided under the DGCL. 

Section 2.02.    Closing; Effective Time; Closing Deliveries. 

(a)    Subject to the provisions of Article 9, the closing of the Merger (the “Closing”) shall
take place at 10:00 a.m. (Eastern Time) at the offices of Dechert LLP, Cira Centre, 2929 Arch Street, Philadelphia, Pennsylvania, 19104 (i) on a date to be specified by the parties hereto, which shall be no later than the second Business Day after
satisfaction (or waiver) of the conditions set forth in Article 9 (other than conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permissible, waiver of those conditions at the
Closing) have been satisfied or, to the extent permissible, waived by the party or parties entitled to the benefit of such conditions; provided that the Closing shall not occur prior to January 2, 2018 unless agreed to in writing by the
Parent and the Company, or (ii) at such other place, time or date as Parent and the Company may mutually agree. 

(b)    At Closing, the Company and Merger Subsidiary shall file a certificate of merger in the form attached hereto as
Exhibit H (the “Certificate of Merger”) with the Secretary of State of the State of Delaware and make all other filings or recordings required by the DGCL in connection with the Merger. The Merger shall become effective at
such time (the “Effective Time”) as the Certificate of Merger is duly accepted by the Secretary of State of the State of Delaware (or at such later time as may be specified in the Certificate of Merger). 

Section 2.03.    Certificate of Incorporation; Bylaws; Directors and Officers. 

(a)    The certificate of incorporation of the Surviving Corporation shall be amended at the Effective Time so as to read
in its entirety as set forth on Exhibit I until amended in accordance with the provisions thereof and Applicable Law. 

(b)    The bylaws of Merger Subsidiary in effect at the Effective Time shall be the bylaws of the Surviving Corporation
until amended in accordance with the provisions thereof and Applicable Law, except that the name of the Surviving Corporation shall be changed to the name of the Company. 

  
 -16- 

 (c)    From and after the Effective Time, until successors are duly elected
or appointed and qualified in accordance with Applicable Law, (i) the directors of Merger Subsidiary at the Effective Time shall be the directors of the Surviving Corporation and (ii) the officers of Merger Subsidiary at the Effective Time
shall be the officers of the Surviving Corporation. 
 Section 2.04.    Conversion of Common Stock.

 (a)    At the Effective Time, by virtue of the Merger and without any action on the part of any party or Stockholder,
each share of Common Stock issued and outstanding immediately before the Effective Time shall be cancelled, extinguished and converted into and represent only the right to receive an amount in cash, without any interest thereon, equal to the Common
Per Share Merger Consideration, upon the terms and subject to the conditions set forth in this Agreement and the Escrow Agreement, including, without limitation, the indemnification provisions set forth in Article 10. 

(b)    At the Effective Time, by virtue of the Merger and without any action on the party of any party or Stockholder,
each outstanding share of common stock, par value $0.01 per share of Merger Subsidiary shall be converted into one share of common stock, par value $0.01 per share, of the Surviving Corporation. 

(c)    At the Effective Time, by virtue of the Merger and without any action on the party of any party or Stockholder,
each Excluded Share, by virtue of the Merger and without any action on the part of Merger Subsidiary, the Company or the holder thereof, shall be canceled and retired and cease to exist and no payment shall be made with respect thereto. 

Section 2.05.    Closing Deliverables. At or prior to the Closing, the Company shall provide (or
cause to be provided) to Parent: 
 (a)    no later than two (2) Business Days prior to the Closing, a statement
(the “Indebtedness Statement”) setting forth a good faith estimate of the aggregate Closing Indebtedness which is expected to be outstanding as of the Closing Measurement Time (the “Estimated Closing Indebtedness”);

 (b)    no later than two (2) Business Days prior to the Closing, a statement (the “Cash
Statement”) setting forth a good faith estimate of the aggregate Closing Cash which is expected to be outstanding as of the Closing Measurement Time (the “Estimated Closing Cash”); 

(c)    no later than two (2) Business Days prior to the Closing, a statement (the “Unpaid Transaction
Expenses Statement”) setting forth a good faith estimate of the aggregate Unpaid Transaction Expenses expected to be incurred through the Closing Measurement Time (the “Estimated Unpaid Transaction Expenses”), together with
all payment instructions related thereto and an invoice, fee statement or similar evidence of obligations from each Person (other than any employee) to whom any amount of the Unpaid Transaction Expenses is owed, indicating the aggregate amount of
Unpaid Transaction Expenses owed to such Person; 

  
 -17- 

 (d)    no later than two (2) Business Days prior to the Closing, an
executed pay-off letter, in each case in customary form and substance, from each Person to whom any amount of the Closing Indebtedness set forth on Schedule 2.05(d) (which schedule may be updated prior
to Closing by the mutual agreement of Parent and the Company) is owed, evidencing the satisfaction in full of all such Closing Indebtedness and the release or termination of all Liens relating to such Closing Indebtedness; 

(e)    no later than two (2) Business Days prior to the Closing, a schedule (which schedule may be updated prior to
Closing by the mutual agreement of Parent and the Company) (the “Payment Schedule”) setting forth (i) a list containing the name of each Stockholder and the number of shares of Common Stock held by such Stockholder and
(ii) the Closing Common Per Share Merger Consideration and Allocable Percentage of the Merger Consideration Adjustment Amount, Escrow Amount, Representative Fund Amount and any indemnification obligation pursuant to
Section 10.02 attributable to such shares; 
 (f)    no later than two (2) Business Days
prior to the Closing, a certificate attaching a good faith estimate of the Closing Working Capital (the “Estimated Working Capital”), together with such schedules and data with respect to the determination of the
Estimated Working Capital as may be appropriate to support such calculation of Estimated Working Capital. The Estimated Working Capital shall be calculated in accordance with GAAP and the Accounting Policies and shall be presented in the same form
as the working capital statement set forth on Schedule 2.05(f) attached hereto (the “Illustrative Working Capital Statement”); 

(g)    no later than two (2) Business Days prior to the Closing, a statement (the “Client Closing Consent
Statement”) setting forth an estimate of the Client Closing Consent Amount and the Client Consent Adjustment Amount as of the Closing (the “Estimated Client Consent Adjustment Amount”); 

(h)    at the Closing, a copy of the certificate of incorporation, articles of incorporation or certificate of formation,
as applicable, and a certificate of good standing of the Company and of each Subsidiary, certified as of a date not more than 10 Business Days prior to the Closing Date by the secretary of state of the state of incorporation or organization; 

(i)    letters of resignation from each individual (solely in their capacity as an officer or director) requested by
Parent pursuant to Section 5.04; 
 (j)    (A) a statement, dated not more than 30 days prior to the
Closing Date, certifying that the Common Stock is not a “U.S. real property interest” and (B) a notice addressed to the IRS that satisfies the requirements of Treasury Regulations
Section 1.897-2(h)(2), in each case in accordance with the Code; 

(k)    copies of the third-party consents, notices and approvals required by Sections 9.01(c); and 

  
 -18- 

 (l)    the update to Section 3.14 of the Company Disclosure
Schedules required by Section 5.07; and 
 (m)    evidence of UCC-3 termination statements
filed with respect to the UCC financing statements set forth on Section 3.15 of the Company Disclosure Schedules. 

Section 2.06.    Payment of Closing Merger Consideration. 

(a)    Promptly after the Effective Time, but, in each case, on the Closing Date, Parent shall make (or cause to be made)
the following payments or deliveries, as applicable: 
 (i)    to an account designated in writing by the Payment
Agent, by wire transfer of immediately available funds, an aggregate amount equal to the Closing Merger Consideration (less the Closing NOL Adjustment Amount and any Closing Merger Consideration applicable to Dissenting Shares), to be used for
payment of the Closing Merger Consideration to Stockholders for which or whom a Letter of Transmittal (as defined below) has been properly completed and received (together with any Certificates or other credentials, as applicable) by the Payment
Agent, in accordance with the terms of the Payment Agent Agreement; 
 (ii)    on behalf of the Company, to such
accounts designated in writing by the Company, by wire transfer of immediately available funds, an amount, in the aggregate, equal to the Closing Indebtedness to enable the Company to repay, or cause to be repaid, the Closing Indebtedness set forth
on the Indebtedness Statement; 
 (iii)    on behalf of the Company, to such accounts designated in writing by the
Company, by wire transfer of immediately available funds, an amount, in the aggregate, equal to the Unpaid Transaction Expenses to enable the Company to pay, or cause to be paid, the Unpaid Transaction Expenses set forth on the Unpaid
Transaction Expenses Statement; 
 (iv)    on behalf of the Stockholders, to an account designated in writing by the
Escrow Agent to be governed by the Escrow Agreement (such account, the “Escrow Account”), by wire transfer of immediately available funds, an amount equal to the Escrow Amount, and for all purposes hereunder each Stockholder shall
be deemed to have contributed its Allocable Percentage of the Escrow Amount; and 
 (v)    on behalf of the
Stockholders, to an account designated in writing by the Representative to be governed by Section 12.03 and the provisions of the Letter of Transmittal (such account, the “Representative Fund”), by wire
transfer of immediately available funds, an amount equal to the Representative Fund Amount, and for all purposes hereunder each Stockholder shall be deemed to have contributed its Allocable Percentage of the Representative Fund Amount. 

(b)    Prior to the Closing, Parent and Representative will engage the Payment Agent pursuant to the Payment Agent
Agreement. At any time after the date hereof, the Company shall cause a letter of transmittal in the form attached hereto as Exhibit E (each, a “Letter of Transmittal”) to be delivered to each Stockholder. After the Effective
Time, each holder of a certificate or certificates representing shares of Common Stock (other than certificates representing Excluded Shares and Dissenting Shares) (collectively, the “Certificates”), upon surrender of such
Certificates to the Payment Agent (or a lost Certificate affidavit) and a properly completed and duly executed Letter of Transmittal, shall be entitled to 

  
 -19- 

 
receive (in accordance with the terms hereof) in exchange therefor an amount in cash (without interest) per share equal to the Common Per Share Merger Consideration, as indicated on the Payment
Schedule and pursuant to the terms hereof, and such Certificate shall, after such surrender, be marked as canceled. If a Stockholder delivers a Letter of Transmittal at least two (2) Business Days prior to the Closing Date, Parent shall cause
the Payment Agent to pay such Stockholder at the Closing the Common Per Share Merger Consideration in respect of each share surrendered by such Letter of Transmittal in accordance with the Payment Agent Agreement. Notwithstanding the foregoing, the
payment to Actua Holdings, Inc. (“Actua Holdings”), a wholly owned subsidiary of Actua, in respect of the Closing Common Per Share Consideration shall be reduced by the Closing NOL Adjustment Amount, if any, as a set off in respect
of Actua Holdings’ obligations under Section 8.03(a). 
 (c)    In the event that any
Certificate for shares of Common Stock has been lost, stolen or destroyed, the Payment Agent shall pay such portion of the Aggregate Merger Consideration as may be required pursuant to this Agreement in exchange therefore upon the making of an
affidavit of that fact by the holder thereof, together with an indemnity in customary form in favor of the Surviving Corporation, as a condition precedent to the payment of any portion of the Aggregate Merger Consideration attributable to such
shares of Common Stock. 
 (d)    If any payment under this Agreement is to be made to a Person other than the Person
in whose name a surrendered Certificate is registered, it shall be a condition to such payment that the Certificate so surrendered shall be properly endorsed or shall be otherwise in proper form for transfer and that the Person requesting such
payment shall have paid any transfer and other Taxes required by reason of such payment in a name other than that of the registered holder of the Certificate surrendered or shall have established to the reasonable satisfaction of the Payment Agent
that such Taxes either have been paid or are not payable. 
 (e)    At the close of business on the day of the
Effective Time, the stock transfer books of the Company shall be closed and thereafter there shall be no transfers of any shares of Common Stock. Until surrendered as contemplated by this Section 2.06, each Certificate
shall be deemed at any time after the Effective Time to represent only the right to receive upon such surrender such portion of the Aggregate Merger Consideration as may be required pursuant to this Agreement in exchange therefore in respect of such
security represented by such Certificate. If, after the Effective Time, Certificates are presented to the Surviving Corporation, they shall be canceled, delivered to the Payment Agent and exchanged for the respective portion of the Aggregate Merger
Consideration they represent, as provided in this Article 2. 
 (f)    Notwithstanding anything else in this
Agreement, the portions of Closing Merger Consideration payable to any particular Stockholder upon Closing shall be as set forth opposite such Stockholder’s name on the Payment Schedule; provided, however, that, pursuant to
Section 2.06(b), any amounts payable to Actua Holdings shall be reduced by the Closing NOL Adjustment Amount, if any. 

(g)    Any portion of the Aggregate Merger Consideration made available to the Payment Agent pursuant to this
Section 2.06 that remains unclaimed by Stockholders 12 months after the time it was delivered to the Payment Agent shall be returned to the Surviving 

  
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Corporation upon demand. Any such Stockholder who has not exchanged shares of Common Stock for, or otherwise claimed, the applicable portion of the Aggregate Merger Consideration in accordance
with this Article 2 prior to that time thereafter will look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Applicable Laws) for payment of the applicable portion of the Aggregate Merger
Consideration in respect thereof. 
 Section 2.07.    Stock Options. At or prior to the Effective Time, the
Company shall take all action necessary (including any necessary determinations and resolutions of the Company Board or a committee thereof) such that each Option outstanding immediately prior to the Effective Time shall at the Effective Time be
cancelled and terminated in accordance with the following two sentences. Each Option that is unvested immediately prior to the Effective Time (and does not become vested in connection with the transactions contemplated hereby) shall be cancelled and
terminated as of the Effective Time without any payment of consideration therefor. The holder of a vested Option shall be given the opportunity to exercise such Option, and to the extent such Option is not timely exercised prior to the Closing, such
Option shall be cancelled and terminated as of the Effective Time without any payment of consideration therefor. 

Section 2.08.    Appraisal Rights. Notwithstanding anything in this Agreement to the contrary, each share of
Common Stock that is issued and outstanding immediately prior to the Effective Time and that is held by a Stockholder who is entitled to and has properly exercised and perfected appraisal rights under Section 262 of the DGCL (the
“Dissenting Shares”) shall not be converted into or exchangeable for the right to receive the applicable portion of the Aggregate Merger Consideration set forth in Section 2.04(a), but shall be
converted into or be exchangeable for the right to receive such consideration as shall be determined to be due with respect to such Dissenting Shares pursuant to Section 262 of the DGCL; provided, however, that if such Stockholder
fails to perfect or effectively withdraws or loses the right to appraisal and payment under the DGCL, each share of Common Stock held by such Stockholder immediately prior to the Effective Time shall thereupon be deemed to have been converted into
and to have become exchangeable for, as of the Effective Time, the right to receive the applicable portion of the Aggregate Merger Consideration set forth in Section 2.04(a) (without interest), and such share shall
no longer be a Dissenting Share. The Company shall give Parent prompt notice of any demands received by it for appraisal of shares of Common Stock, withdrawals of such demands and any other related instruments received by it. Parent shall have the
right, to the extent reasonably practicable, to receive notice of and participate in all negotiations and proceedings with respect to such demands and the exercise of such appraisal rights under the DGCL. Except with the prior written consent of
Parent and, if prior to the Closing, the Company, no party hereto shall make any payment with respect to, or offer to settle or settle, any such demands. The Company shall provide to those Stockholders who did not execute the Written Consent all
information required by Section 228 of the DGCL, including the information with respect to appraisal rights required by Section 262 of the DGCL, and any other Applicable Law (including any other applicable section of the DGCL and the
securities laws). 
 Section 2.09.    Post-Closing Statement. 

(a)    Parent shall cause to be prepared and, as soon as practical, but in no event later than 95 days after
the Closing Date, shall cause to be delivered to the Representative, a statement setting forth Parent’s good faith calculation of (i) Closing Working Capital (including 

  
 -21- 

 
each component item thereof as set forth on the Illustrative Working Capital Statement), (ii) Unpaid Transaction Expenses, (iii) Closing Cash, (iv) Closing Indebtedness and
(v) Client Consent Adjustment Amount, together with Parent’s calculation of the Final Merger Consideration (the “Initial Calculation”), including such schedules and data with respect to the determination of
each component thereof as may be appropriate to support such Initial Calculation. The Closing Working Capital shall be calculated and presented in the same manner as is prescribed for the calculation of the Estimated Working Capital in
Section 2.05(e). 
 (b)    Within 30 days after receipt by the Representative of the Initial
Calculation, the Representative may deliver to Parent a written notice (the “Calculation Notice”) either (i) advising Parent that the Representative agrees with and accepts the Initial Calculation (in which case the Initial
Calculation shall be deemed to be the final calculation of the Final Merger Consideration (the “Final Calculation”)) or (ii) setting forth an explanation in reasonable detail of those items in the Initial Calculation that the
Representative disputes and of what the Representative believes is the correct calculation of each disputed item and the Final Calculation. The Representative and the accountants and other advisors engaged by the Representative shall be entitled to
review the Company’s working papers, trial balances and similar materials for purposes of reviewing the Initial Calculation. Without limiting the generality of the foregoing, the Company shall provide the Representative and the accountants and
other advisors engaged by the Representative with timely and reasonable access, during the Company’s normal business hours, to the Company’s personnel, properties, books and records, in each case for purposes of reviewing the
Initial Calculation and at the Company’s sole expense. If the Representative does not submit a Calculation Notice within the 30-day period provided herein, then the Initial Calculation shall be deemed to
be the Final Calculation and shall not be subject to further review, challenge or adjustment. Parent and its accountants shall be entitled to review the working papers, trial balances and similar materials relating to the Representative’s
preparation of its Calculation Notice. If Parent concurs with the Calculation Notice, or if Parent does not object to the Calculation Notice in a writing received by the Representative within 30 days after Parent’s receipt of the Calculation
Notice (such writing, an “Objection Notice”), the calculation of the Final Merger Consideration set forth in the Calculation Notice shall be deemed to be the Final Calculation and shall not be subject to further review, challenge or
adjustment. 
 (c)    In the event that the Representative and Parent are unable to resolve any disputes regarding the
Initial Calculation within 15 days after the date of the Representative’s receipt of the Objection Notice, then such disputes shall be referred to and resolved by a nationally or regionally recognized accounting firm that has been mutually
agreed upon by the parties in good faith (such firm, the “Settlement Accountants”), and the calculation of the Final Merger Consideration of the Settlement Accountants shall be deemed to be the Final Calculation and shall not be
subject to further review, challenge or adjustment, absent fraud. The Settlement Accountants shall determine the Final Merger Consideration in accordance with the standards described in this Section 2.09 and shall be
instructed by Parent and the Representative to use their reasonable best efforts to reach such determination not more than thirty (30) days after such referral. Nothing herein shall be construed to authorize or permit the Settlement Accountants
to resolve any item in dispute by making an adjustment to the Initial Calculation that is outside of the range for such item defined by the Initial Calculation and the Calculation Notice. Each of Representative and Parent shall pay its own costs and
expenses incurred in connection with this Section 2.09; provided, however, that the costs of any fees and expenses of the Settlement Accountant shall be borne equally by Representative, on the one hand, and
Parent, on the other hand. 

  
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 (d)    The “Merger Consideration Adjustment Amount,”
which may be positive or negative, shall mean (i) the Final Merger Consideration, as finally determined in accordance with this Section 2.09, minus (ii) the Closing Merger Consideration. 

(e)    If the Merger Consideration Adjustment Amount is a positive number, then: 

(i)    Parent shall, or shall cause the Surviving Corporation, to deliver, by wire transfer of immediately available
funds to an account designated in writing by the Payment Agent, for the benefit of (and, in accordance with other terms of this Agreement, for further payment to) the Stockholders an amount equal to the Merger Consideration Adjustment Amount, which
amount shall be paid by the Payment Agent to the Stockholders in accordance with their respective Allocable Percentages in accordance with the Payment Agent Agreement; and 

(ii)    Parent and the Representative shall provide a joint written instruction to the Escrow Agent to release from the
Working Capital Escrow Fund, by wire transfer of immediately available funds to the account designated in Section 2.09(e)(i), for the benefit of (and, in accordance with other terms of this Agreement, for further payment
to) the Stockholders an amount equal to the Working Capital Escrow Amount, which amount shall be paid by the Payment Agent to the Stockholders in accordance with their respective Allocable Percentages in accordance with the Payment Agent Agreement;
and 
 (f)    If the Merger Consideration Adjustment Amount is a negative number, then: 

(i)    Parent and the Representative shall provide a joint written instruction to the Escrow Agent to deliver from the
Working Capital Escrow Fund to the Surviving Corporation, by wire transfer of immediately available funds to an account designated in writing by the Surviving Corporation, an amount equal to the Merger Consideration Adjustment Amount; 

(ii)    the funds remaining (if any) in the Working Capital Escrow Fund, after giving effect to
Section 2.09(f)(i), shall be released to the Stockholders in accordance with the procedure set forth in Section 2.09(e)(ii); and 

(iii)    if the Merger Consideration Adjustment Amount payable to the Surviving Corporation pursuant to
Section 2.09(f)(i) exceeds the amount of funds in the Working Capital Escrow Fund, the Stockholders shall pay such excess to the Surviving Corporation, severally and not jointly, in accordance with each Stockholder’s
Allocable Percentage, by wire transfer of immediately available funds no later than five (5) Business Days following the date the Final Calculation becomes final and binding in accordance with this Section 2.09 to an
account designated by Parent or the Surviving Corporation. 

  
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 (g)    If the Merger Consideration Adjustment Amount is zero, then the
entire amount of the Working Capital Escrow Fund shall be released to the Stockholders in accordance with the procedure set forth in Section 2.09(e)(ii). 

(h)    Amounts paid pursuant to this Section 2.09 shall be deemed adjustments to the Aggregate
Merger Consideration. For purposes of this Section 2.09, all computations of interest shall be made on the basis of a year of 365 days, in each case, for the actual number of days (including the first day but excluding the
last day) occurring in the period for which such interest is payable. Any payments made by any Person pursuant to this Section 2.09 shall be made by wire transfer of immediately available funds within ten (10) Business
Days after the Final Calculation has occurred. 
 (i)    Parent, the Company and the Representative agree that the
procedures set forth in this Section 2.09 for resolving disputes with respect to the Merger Consideration Adjustment Amount shall be the sole and exclusive method for resolving any such disputes; provided that this
provision shall not prohibit Parent or the Representative from instituting litigation to enforce any final determination of the Merger Consideration Adjustment Amount by the Settlement Accountants pursuant to this
Section 2.09 in any court of competent jurisdiction in accordance with Sections 13.07 and 13.08; provided, however, that the substance of the Settlement Accountants’ determination shall not
be subject to review or appeal. 
 Section 2.10.    Withholding. Parent, the Company, the Surviving
Corporation and the Payment Agent shall be entitled to deduct and withhold from the Merger Consideration and any other payments contemplated by this Agreement such amounts as are required to be deducted and withheld with respect to the making of
such payment under the Code, or any provision of state or local Tax law, and Parent, the Company, the Surviving Corporation or the Payment Agent, as applicable, shall timely pay such amounts to the applicable Taxing Authority;
provided, however, that for any payments other than payments to employees or other service providers of the Company that are compensatory, Parent shall provide the Company and the Representative
written notice prior to making any such deduction or withholding to allow the Company and the Representative to obtain a reduction of or relief from such deduction or withholding, and Parent shall cooperate with the Company and the Representative,
to the extent reasonable, in efforts to obtain any such reduction of or relief from deduction or withholding. To the extent that amounts are so deducted and withheld, such amounts will be treated for all purposes of this Agreement as having been
paid to the applicable Stockholder or such other Person in respect of whom such deduction and withholding was made. 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

Subject to Section 13.03 of this Agreement, except as set forth in the Company Disclosure Schedules, the Company
represents and warrants to Parent and Merger Subsidiary that the statements contained in this Article 3 are true and correct as of the date of this 

  
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Agreement, except to the extent such representations and warranties are specifically made as of a particular date (in which case such representations and warranties will be true and correct as of
such date) as follows:  
 Section 3.01.    Corporate
Existence and Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware and has all corporate powers required to carry on its business as now conducted. The Company is
duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction where such qualification is necessary, except for those jurisdictions where failure to be so qualified would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. The Company has heretofore made available to Parent true and complete copies of the Company Charter and the bylaws of the Company as currently in effect. A correct list of all of the
jurisdictions in which the Company is so qualified to do business is set forth on Section 3.01 of the Company Disclosure Schedules. 

Section 3.02.    Corporate Authorization. The execution, delivery and performance by the Company of this
Agreement and the consummation by the Company of the transactions contemplated hereby are within the Company’s corporate powers and, except for the Required Stockholder Approval, have been duly authorized by all necessary corporate action on
the part of the Company. The affirmative vote or written consent of holders of a majority of the outstanding shares of Common Stock is the only vote of the holders of the capital stock of the Company necessary (including under the DGCL, the Company
Charter and bylaws of the Company and the Stockholder Agreement or any other similar agreement) to adopt and approve this Agreement and the transactions contemplated hereby (the “Required Stockholder Approval”). When executed and
delivered by the Representative, the Written Consent shall constitute the valid and effective adoption and approval of this Agreement and the transactions contemplated hereby by the Required Stockholder Approval in compliance with Applicable Law,
the Company Charter and bylaws of the Company and the Stockholder Agreement or any other similar agreement, and no other vote or action of holders of any class or series of capital stock of the Company is necessary under Applicable Law, the Company
Charter or bylaws of the Company, the Stockholder Agreement or otherwise. This Agreement constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms (subject to limitations on enforcement
imposed by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar other laws affecting creditors’ rights generally). 

Section 3.03.    Governmental Authorization. Except as set forth on Section 3.03 of
the Company Disclosure Schedules, the execution, delivery and performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated hereby require no action by or in respect of, or filing with, any
Governmental Authority other than (a) the filing of the Certificate of Merger with respect to the Merger with the Secretary of State of the State of Delaware and appropriate documents with respect to the Merger with the relevant authorities of
other states in which the Company is qualified to do business, (b) compliance with any applicable requirements of the 1933 Act, the 1934 Act and any other applicable state or federal securities laws, (c) filings and approvals under the HSR
Act and (d) any actions or filings the absence of which would not reasonably be expected to be, individually or in the aggregate, material to the Company or materially delay the ability of the Company to consummate the transactions contemplated
by this Agreement. 
 Section 3.04.    Noncontravention. Except as set forth on
Section 3.04 of the Company Disclosure Schedules, the execution, delivery and performance by the Company of this Agreement and the consummation of the transactions contemplated hereby do not and will not

  
 -25- 

 
(a) contravene, conflict with or result in any violation or breach of any provision of the certificate of incorporation or bylaws or similar organizational documents of the Company or any
Subsidiary, (b) assuming compliance with the matters referred to in Section 3.03, contravene, conflict with or result in any violation or breach of any provision of any Applicable Law, (c) result in the creation
or imposition of any Lien (other than Permitted Liens or other restrictions generally applicable to U.S. securities) on any asset or property of the Company or any Subsidiary, or (d) assuming compliance with the matters referred to in
Section 3.03, require any consent or other action by any Person under, constitute a breach or default or an event that, with or without notice or lapse of time or both, would constitute a breach or default under, or give
rise to any right of termination, cancellation or acceleration of any Material Contract to which the Company or any Subsidiary is a party or any right or obligation of the Company or any Subsidiary, with only such exceptions, in the case of
clause (d), as would not reasonably be expected to have a Material Adverse Effect. 

Section 3.05.    Capitalization.  

(a)    The authorized capital stock of the Company consists of 25,500,000 shares of capital stock, all of which are
designated as Common Stock. As of the date hereof, the Company holds 80,262 shares of Common Stock in its treasury. 

(b)    As of the date hereof, there are issued and outstanding: 

(i)    21,939,738 shares of Common Stock; and 

(ii)    Options issued pursuant to the Equity Incentive Plan representing the right to purchase an aggregate of 3,248,750
shares of Common Stock (of which Options to purchase an aggregate of 1,507,816 shares of are vested as of the date hereof). 

(c)    All outstanding shares of Common Stock have been duly authorized and validly issued and are fully paid and non-assessable and free of preemptive rights. Except as set forth in this Section 3.05 or in Section 3.05(c) of the Company Disclosure Schedules, there are no
outstanding (i) shares of capital stock or voting securities of, or ownership interests in, the Company, (ii) securities of the Company convertible into or exchangeable for shares of capital stock or voting securities of, or ownership
interests in, the Company, (iii) warrants, calls, options or other rights to acquire from the Company, or other obligation of the Company to issue, any capital stock, voting securities or securities convertible into or exchangeable for capital
stock or voting securities of, or ownership interests in, the Company or (iv) restricted shares, stock appreciation rights, performance units, contingent value rights, “phantom” stock or similar securities or rights that are
derivative of, or provide economic benefits based, directly or indirectly, on the value or price of, any capital stock of or voting securities of the Company (the items in clause (i) through clause (iv) of this
Section 3.05(c) being referred to collectively as the “Company Securities”). There are no outstanding obligations of the Company or any Subsidiary to repurchase, redeem or otherwise acquire any Company
Securities. 

  
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 Section 3.06.    Subsidiaries. 

(a)    Each Subsidiary is a corporation or limited liability company duly incorporated or organized, validly existing and
in good standing under the laws of its jurisdiction of incorporation and has all corporate or limited liability company powers required to carry on its business as now conducted. Each such Subsidiary is duly qualified to do business as a foreign
corporation or limited liability company and is in good standing in each jurisdiction where such qualification is necessary, except for those jurisdictions where the failure to be so qualified would not reasonably be expected to have a Material
Adverse Effect. All Subsidiaries and their respective jurisdictions of incorporation or organization are identified on Section 3.06(a) of the Company Disclosure Schedules. A correct list of all of the jurisdictions in which
the each such Subsidiary is so qualified to do business is also set forth on Section 3.06(a) of the Company Disclosure Schedules. The Company has heretofore made available to Parent true and complete copies of the
certificate of incorporation and bylaws (or equivalent organizational documents) of each Subsidiary as currently in effect. 

(b)    Section 3.06(b) of the Company Disclosure Schedules lists the authorized and issued and outstanding capital
stock or other voting securities or equity interests of each Subsidiary. All of the outstanding capital stock or other voting securities or equity interests of each Subsidiary is owned by the Company, directly or indirectly, free and clear of any
Lien (other than Permitted Liens or other restrictions generally applicable to U.S. securities) and free of any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of such capital stock or other
voting securities). There are no outstanding (i) securities of the Company or any Subsidiary convertible into or exchangeable for shares of capital stock or voting securities of, or ownership interests in, any Subsidiary, (ii) warrants,
calls, options or other rights to acquire from the Company or any Subsidiary, or other obligation of the Company or any Subsidiary to issue, any capital stock, voting securities or securities convertible into or exchangeable for capital stock or
voting securities of, or ownership interests in, any Subsidiary or (iii) restricted shares, stock appreciation rights, performance units, contingent value rights, “phantom” stock or similar securities or rights that are derivative of,
or provide economic benefits based, directly or indirectly, on the value or price of, any capital stock or other voting securities of, or ownership interests in, any Subsidiary (the items in clauses (i) through (iii) of
this Section 3.06(b) being referred to collectively as the “Subsidiary Securities”). There are no outstanding obligations of the Company or any Subsidiary to repurchase, redeem or otherwise acquire any
outstanding Subsidiary Securities. 
 (c)    Other than the Subsidiaries, neither the Company nor any Subsidiary owns,
directly or indirectly, any shares of capital stock, other securities or ownership interests, or investments in, any other Person (collectively, “Third Party Interests”). Neither the Company nor any Subsidiary has any rights to, or
is bound by any commitment or obligation to, acquire by any means, directly or indirectly, any Third Party Interests or to make any investment in or contribution to, any Person. 

Section 3.07.    Financial Statements. 

(a)    Set forth on Section 3.07(a) of the Company Disclosure Schedules are: (i) the
audited consolidated balance sheets of the Company and its Subsidiaries as of December 31, 2015 and 2016 and the related audited consolidated statements of operations, changes in equity and cash flows of the Company and its Subsidiaries for
each of the years then ended and (ii) the Balance Sheet and the related unaudited interim consolidated statements of income and cash flows of the Company and its Subsidiaries for the six (6) months ended June 30, 2017 (the

  
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foregoing financial statements, collectively, the “Financial Statements”). The Financial Statements (x) have been prepared from the books and records of the Company and its
Subsidiaries and (y) fairly present in all material respects, in conformity with GAAP applied on a consistent basis (other than the absence of notes and subject to the normal year-end adjustments in the
case of any interim financial statements), the consolidated financial position of the Company and the Subsidiaries as of the dates thereof and their consolidated results of operations and cash flows for the periods then ended. 

(b)    The Company has established and adheres in all material respects to a system of internal accounting controls that
are designed to provide reasonable assurance that material transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP. To the Knowledge of the Company, there has never been (i) any fraud with
respect to the Company or its Subsidiaries that involves any of the management or other employees of the Company or its Subsidiaries or any of their Affiliates who have a role in the preparation of financial statements or the internal accounting
controls used by the Company or its Subsidiaries or (ii) any claim or allegation regarding any of the foregoing. Section 3.07(b) of the Company Disclosure Schedules sets forth the significant deficiencies and material
weaknesses identified by Actua in connection with internal control testing in respect of the fiscal years ended December 31, 2015 and 2016. The deficiency related to certain business users at the Company having administrative access to the
general ledger system as described on Section 3.07(b) of the Company Disclosure Schedules has been remediated. To the Knowledge of the Company, except as set forth on Schedule 3.07(b) of the Company Disclosure
Schedules, as of the date of this Agreement, there have been no deficiencies or weaknesses identified by the Company through internal control testing performed through the date of this Agreement that relate to the period from January 1, 2017
through the date of this Agreement. 
 (c)    Section 3.07(c) of the Company Disclosure Schedules sets forth a
list of all Indebtedness of the Company and its Subsidiaries as of the date of this Agreement and identifies for each item of Indebtedness of the Company and its Subsidiaries the outstanding principal and accrued but unpaid interest as of September
24, 2017. 
 (d)    The accounts receivable reflected on the Balance Sheet and the accounts receivable arising after
the Balance Sheet Date through the Closing Date (i) have arisen from bona fide transactions entered into by the Company or its Subsidiaries involving the sale of goods or the rendering of services in the ordinary course of business, and
(ii) except as set forth on Section 3.07(d) of the Company Disclosure Schedules, constitute only valid, undisputed claims of the Company or its Subsidiaries not subject to claims of
set-off or other defenses or counterclaims other than normal cash discounts accrued in the ordinary course of business consistent with past practice. The reserve for bad debts shown on the Balance Sheet or,
with respect to accounts receivable arising after the Balance Sheet Date, on the accounting records of the Company or its Subsidiaries have been determined in accordance with GAAP, consistently applied, subject to normal year-end adjustments and the absence of disclosures normally made in footnotes. 

Section 3.08.    Absence of Certain Changes. Since the Balance Sheet Date, the business of the Company and the
Subsidiaries has been conducted in the ordinary course of business consistent with past practice and there has not been any event, occurrence, development 

  
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or state of circumstances or facts that has had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. Except as set forth on
Section 3.08 of the Company Disclosure Schedule, since the Balance Sheet Date through the date of this Agreement, neither the Company nor any Subsidiary has taken any of the following actions: 

(a)    adopted or proposed any change in the certificate of incorporation or bylaws or similar organizational documents
of the Company or any Subsidiary (whether by merger, consolidation or otherwise); 
 (b)    (i) split, combined or
reclassified any shares of Common Stock or capital stock of any Subsidiary, (ii) declared, set aside or paid any dividend or other distribution (whether in cash, stock or property or any combination thereof) in respect of the Common Stock or
capital stock of any Subsidiary (other than dividends paid by any Subsidiary to the Company or another wholly-owned Subsidiary), or (iii) redeemed, repurchased or otherwise acquired or offer to redeem, repurchase, or otherwise acquire any
Company Securities or any Subsidiary Securities; 
 (c)    merged or consolidated with any other Person or acquired
(whether by merger, consolidation, acquisition of stock or assets or otherwise), directly or indirectly, any assets, securities, properties, interests or businesses (or division thereof) other than the acquisition of assets or inventory in the
ordinary course of business of the Company and its Subsidiaries; 
 (d)    cancelled, compromised, waived or settled,
or offered or proposed to cancel, compromise, waive or settle, (A) any material Proceeding or other claim against the Company or any Subsidiary or (B) any material stockholder litigation or stockholder dispute against the Company or any of
its officers or directors; 
 (e)    made or changed any material Tax election, changed any annual Tax accounting
period, adopted or changed any method of Tax accounting, entered any closing agreement with a Taxing Authority, or settled any material Tax claim, audit or assessment; 

(f)    adopted a plan of or consummated a complete or partial liquidation, dissolution, restructuring, recapitalization
or other reorganization or filing of a petition in bankruptcy under any provisions of federal or state bankruptcy law or consent to the filing of any bankruptcy petition against it under any similar law; 

(g)    changed any method of accounting or accounting practice of the Company or any Subsidiary, except for changes that
are (A) required by GAAP or Applicable Law or (B) made by the Company’s ultimate parent on a company-wide basis; or 

(h)    committed to do any of the foregoing listed in clauses (a) through (g). 

Section 3.09.    No Undisclosed Material Liabilities. Except as set forth on
Section 3.09 of the Company Disclosure Schedules, there are no liabilities or obligations of the Company or any Subsidiary that would be required under GAAP to be disclosed on a balance sheet of the Company and its
Subsidiaries, other than the following: 
 (a)    liabilities or obligations that are reserved against or reflected in
the Balance Sheet; 

  
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 (b)    liabilities or obligations since the Balance Sheet Date that have
arisen in the ordinary course of business (excluding any liabilities that relate to any breach of contract or violation of Applicable Law); and 

(c)    liabilities or obligations incurred in connection with this Agreement and the transactions and agreements
contemplated hereby. 
 Section 3.10.    Material Contracts. 

(a)    Except for each Contract disclosed in Section 3.10 of the Company Disclosure Schedules
(each, a “Material Contract”), neither the Company nor any Subsidiary is a party to or bound by: 

(i)    (A) any real property lease or (B) any personal property lease where the aggregate payments due under such
personal property lease are $150,000 or more; 
 (ii)    any Contract (A) for the purchase of materials, supplies,
goods, services, equipment or other assets (other than Contracts with third-party managers and customer or supplier purchase orders entered into in the ordinary course of business) (1) under which the Company and/or the Subsidiaries made
payments in excess of $175,000 in the twelve (12) months ended June 30, 2017 or (2) that contains any minimum or “take or pay” purchase or volume requirements, or (B) with a third-party manager under which the Company
and/or the Subsidiaries made payments in excess of $350,000 in the twelve (12) months ended June 30, 2017; 

(iii)    any sales, distribution, license or other Contract providing for the sale or license by the Company and/or any
Subsidiary of materials, supplies, goods, products, services, equipment or other assets (A) under which the Company and/or the Subsidiaries were paid in excess of $250,000 (net of any fees paid through to third-party managers) in the twelve
(12) months ended June 30, 2017; (B) that requires the Company and/or the Subsidiaries to sell any materials, supplies, goods, products, services, equipment or other assets exclusively to any Person; or (C) that obligates the Company
and/or the Subsidiaries to provide any Person with equal or preferred pricing terms as compared to the pricing terms offered by the Company and/or the Subsidiaries to any other Person, including any Contract with any “most favored nation”
pricing provision; 
 (iv)    any partnership, joint venture or other similar Contract or arrangement; 

(v)    any employment Contract providing for base salary or base fees in excess of $200,000 on an annualized basis, and
any severance, retention or change in control Contract with any employee, individual independent contractor or individual consultant of the Company or any Subsidiary (other than ordinary course offer letters); 

  
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 (vi)    any Contract relating to the acquisition or disposition of any
capital stock or other equity interests, business or material assets (whether by merger, sale of stock, sale of assets or otherwise) under which payment obligations or other material obligations (absolute or contingent) of the Company or its
Subsidiaries remain outstanding, including any indemnification obligations; 
 (vii)    any Contract relating to
Indebtedness (whether incurred, assumed, guaranteed or secured by any asset) or the placing of a Lien (other than a Permitted Lien) on any assets of the Company or its Subsidiaries; 

(viii)    any agency, dealer, sales representative or marketing Contract that provides for either (A) annual
payments to the Company and/or the Subsidiaries of $100,000 or more or (B) aggregate payments to the Company and/or the Subsidiaries of $500,000 or more; 

(ix)    any Contract (excluding non-exclusive licenses for commercial off-the-shelf computer software) pursuant to which the Company or any Subsidiary (A) obtains the right to use, or a covenant not to be sued under, any Intellectual
Property Right or (B) grants the right to use, or a covenant not to be sued under, any Intellectual Property Right (excluding non-exclusive licenses granted in the ordinary course of business to
customers); 
 (x)    any Contract, commitment, arrangement or understanding with any Related Party; 

(xi)    any Contract under which the Company or its Subsidiaries have, directly or indirectly, made any advance, loan, or
extension of credit to, or capital contribution or other investment in, any other Person; 
 (xii)    any Contract that
limits the freedom of the Company or its Subsidiaries to compete with any Person or in any geographical area or that otherwise restricts the development, manufacture, marketing, distribution, or sale of the Company’s or its Subsidiaries’
products or services; 
 (xiii)    any Contract with any Governmental Authority (other than, for the avoidance of
doubt, any Permit); 
 (xiv)    any Contract that grants any Person a right of first offer or right of first refusal
with respect to the Common Stock or any capital stock of any Subsidiary of the Company or an exclusive dealing or similar exclusivity provision; and 

(xv)    any settlement or similar Contracts with respect to Proceedings involving the Company or its Subsidiaries under
which there are continuing obligations or Liabilities on the part of the Company or any of its Subsidiaries. 

(b)    Except as set forth on Section 3.10 of the Company Disclosure Schedules, each Material
Contract is a valid and binding agreement of the Company or a Subsidiary, as the case may be, and, to the Knowledge of the Company, the other party or parties thereto, and is in full force and effect, and none of the Company, any Subsidiary or, to
the Knowledge of the Company, any other party thereto is in default or breach in any material respect under the terms 

  
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of any such Material Contract, and, to the Knowledge of the Company, no event or circumstance has occurred that, with notice or lapse of time or both, would constitute an event of default
thereunder, give rise to a right of termination, cancellation or acceleration of any right or obligation of the Company or a Subsidiary, and the Merger and the transactions contemplated by this Agreement will not result in any material change to the
terms thereof. Neither the Company nor any of its Subsidiaries has received any written or, to the Knowledge of the Company, oral notice from any counterparty to a Material Contract that such counterparty intends to terminate, not renew, or
materially amend the terms of such Material Contract, and neither the Company nor any of its Subsidiaries has given any such written or oral notice to any counterparty to a Material Contract. Neither the Company nor any of its Subsidiaries has
waived any of its material rights under any Material Contract. True and complete copies of each Material Contract have heretofore been made available to Parent (subject to customary redaction of competitively sensitive pricing information). 

Section 3.11.    Litigation. Except as set forth on Section 3.11 of the Company
Disclosure Schedules, there is no material Proceeding pending against, or to the Knowledge of the Company, threatened against, the Company or any Subsidiary or any of their respective properties by or before (or, in the case of threatened
Proceedings, would be by or before) any Governmental Authority or arbitrator. 
 Section 3.12.    Compliance
with Laws and Court Orders. Except as set forth on Section 3.12 of the Company Disclosure Schedules, the Company and each Subsidiary is and since January 1, 2015 has been in compliance in all material respects
with, and, to the Knowledge of the Company, is not under investigation with respect to and has not been threatened to be charged with by any Governmental Authority or given notice of any material violation of, any Applicable Law, including any
Anti-Corruption Laws, and neither the Company nor any Subsidiary has or has attempted to (directly or indirectly through any Person) bribe or similarly improperly influence any Governmental Authority or Government Official. There is no judgment,
decree, injunction, rule or order of any arbitrator or Governmental Authority outstanding against the Company or any of the Subsidiaries that has been or would reasonably be expected to be materially adverse to the Company or that in any manner
seeks to prevent, enjoin, alter or materially delay the consummation of the transactions contemplated by this Agreement. 

Section 3.13.    Regulatory. 

(a)    The Adviser is duly registered as an investment adviser under the Investment Advisers Act. 

(b)    The Company has made available to Parent prior to the date of this Agreement correct and complete copies of the
current Uniform Application for Investment Adviser Registration on Form ADV (including Part 1 and Part 2A) as on file with the SEC as of the date of this Agreement relating to the Adviser and any Part 2B thereof, reflecting all amendments thereto to
the date of this Agreement. 

  
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 (c)    The Adviser has (i) adopted a formal code of ethics complying in
all material respects with Rule 204A-1 promulgated under the Investment Advisers Act, and (ii) adopted and implemented written policies and procedures that are reasonably designed to prevent and detect
any material violations under the Investment Advisers Act. 
 (d)    Neither the Adviser nor, to the Knowledge of the
Company, any person “associated” (within the meaning of the Investment Advisers Act) with the Adviser is subject to disqualification pursuant to Section 203(e)-(f) of the Investment Advisers Act from serving as an investment adviser
or as an associated person of an investment adviser. There is no Proceeding pending or, to the Knowledge of the Company, threatened against the Adviser or any such associated Person that would result in any such disqualification. 

(e)    All deficiency letters and examination reports that the Adviser has received prior to the date hereof since
January 1, 2015 from any Governmental Authority are listed on Section 3.13(e) of the Company Disclosure Schedules, true, correct and complete copies of which have been made available or delivered to Parent, along with all written
responses thereto. The Company has made available or delivered to Parent all material correspondence to the Company or any of its Subsidiaries, or to Representative in respect of the Company or any of its Subsidiaries, relating to any material
inquiry, examination or investigation by any Governmental Authority received since January 1, 2015 regarding the Adviser any of its respective employees or associated persons. 

(f)    None of the Company, any Subsidiary or any Affiliate of any such entities is registered, or required to register,
as an “investment company” under Section 8 of the 1940 Act. 
 Section 3.14.    Investment
Advisory Clients; Investment Advisory Contracts. 
 (a)    Section 3.14 of the Company Disclosure Schedules
contains a full and complete list of each Investment Advisory Contract and any other Contract with an Investment Advisory Client related thereto, in each case to which the Company or any of its Subsidiaries is bound as of the date that is five
(5) Business Days prior to the date hereof. The Company has made available to Parent true and complete copies (subject to customary redaction of competitively sensitive pricing information) of each Investment Advisory Contract (other than
Investment Advisory Contracts with end clients) to which the Company or any of its Subsidiaries is bound as of the date that is five (5) Business Days prior to the date hereof (including, investment guidelines, strategies, policies or
restrictions applicable thereto). 
 (b)    Except as set forth on Section 3.14 of the Company Disclosure
Schedules, each of the Investment Advisory Contracts is a valid and binding obligation of the Adviser and any other Person party to such Investment Advisory Contracts, and the Adviser has performed its obligations thereunder in all material respects
to the extent such obligations have accrued, and no material breach or material default thereunder by the Company, any Subsidiary or any other Person party to such Investment Advisory Contracts has occurred. 

(c)    The Adviser is eligible, qualified and registered and has any material permit necessary to act under each
Investment Advisory Contract and is not prohibited by any Applicable Law from performing its duties and obligations under any Investment Advisory Contract in any material respect. 

  
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 (d)    No Investment Advisory Client of the Adviser is registered, or
required to be registered, as an investment company under the 1940 Act. 
 (e)    The operations of the Company and the
Subsidiaries are and have been conducted at all times since January 1, 2015, in material compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, the
anti-money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the
“Anti-Money Laundering Laws”); and no Proceeding involving the Company or any of the Subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the Knowledge of the Company, threatened. 

(f)    The Company and the Subsidiaries do not sponsor any entity that would be an investment company under the 1940 Act
but for the application of Section 3(c)(1) or 3(c)(7) of the 1940 Act. 

Section 3.15.    Properties. 

(a)    None of the Company or the Subsidiaries owns, or has ever owned, or has any right to acquire any real property. The
Company and the Subsidiaries have valid leasehold interests in all leased real property. None of such property is subject to any Lien, except: 

(i)    Liens for Taxes not yet due or being contested in good faith (and for which adequate accruals or reserves have
been established on the Balance Sheet in accordance with GAAP); 
 (ii)    mechanic’s, landlord’s,
workman’s, materialman’s, carrier’s, repairer’s and other similar Liens arising or incurred in the ordinary course of business that are not yet due and payable or are being contested in good faith (and for which adequate accruals
or reserves have been established on the Balance Sheet in accordance with GAAP); 
 (iii)    with respect to real
property, zoning ordinances and other land use restrictions or regulations, building or use restrictions, recorded easements and other restrictions of legal record; 

(iv)    with respect to real property, all matters set forth in the leases for such leased real property; 

(v)    limitations by bankruptcy or other Applicable Laws affecting creditors’ rights generally or equitable
principles; 
 (vi)    Liens securing the Closing Indebtedness or the Unpaid Transaction Expenses that must be
discharged at or as promptly as practicable after Closing; 

  
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 (vii)    Liens created pursuant to the transactions contemplated by this
Agreement; 
 (viii)    Liens which do not materially detract from the value or materially interfere with any present
or intended use of such property; and 
 (ix)    Solely with respect to the representations and warranties contained in
this Article 3 made at and as of the date of this Agreement (but not at and as of the Closing Date), Liens set forth on Section 3.15 of the Company Disclosure Schedules (clauses (i) through (ix) of
this Section 3.15(a) are, collectively, the “Permitted Liens”). 

(b)    The Company and the Subsidiaries have good and valid title to, or in the case of leased property and assets have
rights to use pursuant to valid leasehold or license interests in, all personal property and assets (whether tangible or intangible) reflected on the Balance Sheet or acquired after the Balance Sheet Date, except for properties and assets disposed
of since the Balance Sheet in the ordinary course of business consistent with past practice. None of such property or assets is subject to any Lien, except Permitted Liens. 

(c)    After giving effect to the termination of intercompany Contracts, services and other arrangements pursuant to
Section 7.05, the property and assets owned or leased by the Company and its Subsidiaries, or which they otherwise have the right to use, constitute all of the property and assets used or held for use in connection with the
respective businesses of the Company and the Subsidiaries and are adequate to conduct such businesses as currently conducted. 

Section 3.16.    Intellectual Property. 

(a)    Section 3.16(a) of the Company Disclosure Schedules contains a true and complete list of the
following intellectual property that is owned or purported to be owned by, the Company or any Subsidiary as of the date hereof: (i) issued patents and pending patent applications; (ii) registrations and applications for registration of any
copyrights; (iii) registrations and applications for registration of any trademarks; and (iv) registered internet domain names (items (i) through (iv) collectively, “Company Registered Intellectual Property”). 

(b)    Except as set forth on Section 3.16(b) of the Company Disclosure Schedules, none of the Company or any
Subsidiary nor the former or current products, services or operation of the businesses of the Company or any Subsidiary has, in the four (4) years prior to the date hereof, infringed, misappropriated or otherwise violated, or is infringing or
otherwise violating, any Intellectual Property Rights of any Person. Except as set forth on Section 3.16(b) of the Company Disclosure Schedules, neither the Company nor any Subsidiary has received any written claim, in the four
(4) years prior to the date hereof, contesting the validity, enforceability, registrability, patentability, ownership or use of any Company Registered Intellectual Property. Except as set forth on Section 3.16(b) of the Company
Disclosure Schedules, there is not nor has there been, in the four (4) years prior to the date hereof, any action, suit or proceeding concerning, and the Company or any Subsidiary has not received written notice of, any claims or allegations
challenging the validity or ownership by the Company of any Owned Intellectual Property Rights or alleging that the Company infringes, misappropriates or otherwise violates or conflicts with the Intellectual Property Rights of any other Person. The
Company is not obligated to indemnify any other Person against any claim of infringement, misappropriation or other violation of or conflict with the Intellectual Property Rights of any other Person. 

  
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 (c)    The Company and its Subsidiaries exclusively own all right, title,
and interest to and in all Intellectual Property Rights that are used in the conduct of the business of the Company, any of the Subsidiaries or any of the Company’s products or services, free and clear of any liens, other than Permitted Liens,
or otherwise has an enforceable right to use such Intellectual Property Rights in the conduct of its business or in connection with any of the Company’s products or services. For the avoidance of doubt, the foregoing representation and warranty
is not a representation and warranty regarding infringement, misappropriation or other violation of Intellectual Property Rights. To the Company’s knowledge, no current or former shareholder, officer, director, consultant or employee of the
Company has any claim, right (whether or not currently exercisable), or ownership interest in any such Intellectual Property Rights. To the knowledge of the Company, no employee of the Company or of any Subsidiary (i) is bound by or otherwise
subject to any contract restricting such employee from performing their duties for the Company or any Subsidiary or (ii) has in any material respect breached any Contract relating to confidentiality or the ownership and protection of
Intellectual Property material to the businesses of the Company and its Subsidiaries with any former employer or other Person in the performance of his or her duties for the Company and/or the Subsidiaries. 

(d)    None of the Owned Intellectual Property Rights has been adjudged invalid or unenforceable in whole or part, and,
to the Knowledge of the Company, all such Owned Intellectual Property Rights are valid and enforceable. There exist no restrictions on the disclosure, use, license or transfer of the Owned Intellectual Property Rights. All required filings and fees
related to the Company Registered Intellectual Property Rights have been timely filed with and paid to the relevant Governmental Authorities and authorized registrars, and all Company Registered Intellectual Property Rights are otherwise in good
standing. Neither the Company nor any of its Subsidiaries has any obligation to grant any license of any Company Owned Intellectual Property Rights to any Person. None of the Company Owned Intellectual Property Rights or, to the Knowledge of the
Company, any licensed Intellectual Property Rights is subject to any outstanding Order adversely affecting the Company’s or any of its Subsidiaries’ use thereof or rights thereto, or that would impair its validity or enforceability. 

(e)    To the Knowledge of the Company, no Person has infringed, misappropriated or otherwise violated any Owned
Intellectual Property Rights in the four (4) years prior to the date hereof. The Company and its Subsidiaries have taken reasonable steps to protect, preserve and maintain the confidentiality of all confidential Intellectual Property Rights,
including all trade secrets used in connection with the businesses of the Company and its Subsidiaries. No material trade secrets or other material confidential information of the Company or any Subsidiary has been disclosed by any the Company or
any Subsidiary to any Person other than pursuant to a written agreement restricting the disclosure and use of such trade secrets or any other confidential information by such Person or to independent contractors and employees bound by enforceable
confidentiality obligations. All employees, independent contractors, representatives and agents of the Company or any Subsidiary are bound by written confidentiality agreements with the Company or one of its Subsidiaries. The Company and each
Subsidiary has obtained from all Persons (including all current and former officers, directors, shareholders, members, employees, contractors, consultants and agents) who have created any 

  
 -36- 

 
material Intellectual Property Rights for the Company or any Subsidiary written assignments of any such Intellectual Property Rights to the Company or a Subsidiary. To the Company’s
Knowledge, no Person is in violation of any such written confidentiality or assignment agreements. 
 (f)    Section
3.16(f)(i) of the Company Disclosure Schedules sets forth a complete list of all material Software owned or purported to be owned by the Company or any Subsidiary. All Company Software is operative for its intended purpose free of any material
defects or deficiencies and to the Company’s Knowledge does not contain any viruses or other malware. Except as listed in Section 3.16(f)(ii) of the Company Disclosure Schedules, no Person other than the Company or its
Subsidiaries possesses a copy, in any form (print, electronic or otherwise), of any material source code for the Company Software, and all such source code and has been maintained strictly confidential. Neither the Company nor any Subsidiary has any
legal obligation to afford any Person access to any such material source code for any Company Software. Neither the Company, nor any Subsidiary, nor any of their consultants, has used Publicly Available Software in whole or in part in the
development of any part of any Company Software, nor licensed or distributed to any third party any combination of Publicly Available Software and such software, in a manner that (i) requires the Company or any Subsidiary to disclose to any
third party any source code of any Owned Software; (ii) requires the Company or any Subsidiary to license a third party to create any derivative work based on any Company Software; (iii) requires the Company or any Subsidiary to license a
third party to distribute or redistribute any Company Software; or (d) requires the grant of any patent rights including nonassertion or patent license obligations. The Company and its Subsidiaries have complied with all known contractual
obligations to display any attribution or proprietary rights notices of the licensor for any Publicly Available Software or other third party Software that is used in, called by, interacts with, or incorporated into any Company Software. No Company
Software contains any time bomb, virus, worm, Trojan horse, back door, drop dead device, or any other Software that would interfere with its normal operation, would allow circumvention of security controls, or is intended to cause damage to
hardware, Software or data. 
 (g)    All Company Software (i) is in the possession, custody and control of the
Company and its Subsidiaries, along with all hardware and software tools, documentation, and other materials necessary to exploit Company Tools and Company Software in the ordinary course of business, and such Company Tools and Company Software will
remain so immediately after the Closing, (ii) has been catalogued and documented as reasonably necessary to enable competently skilled programmers and engineers to use, update and enhance such items by readily using the existing source code,
engineering drawings, machine settings and documentation, and (iii) is stored in electronic form and hard copy form, with up-to-date appropriately catalogued
versions, in at least two separate geographical locations for effective disaster recovery. No source code of any Owned Software has been provided to employees of the Company or any of its Subsidiaries except on a need-to-know basis. The Owned Software has not been presented or disclosed in source code form to any third party except under valid, binding, written confidentiality agreements or written source code escrow
agreements listed in Section 3.16(g)(i) of the Company Disclosure Schedules, or has otherwise been made available to the public in source code form. Except as set forth in Section 3.16(g)(ii) of
the Company Disclosure Schedules, to the Company’s Knowledge, there has been no material security breach relating to, no material violation of any security policy regarding, and no unauthorized access to, the Company and its Subsidiaries’
proprietary data or Company Software. 

  
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 (h)    The Software (including Software used in connection with electronic
data processing, record keeping, communications, telecommunications), computer firmware, computer hardware (whether general purpose or special purpose), networks, peripherals and computer systems, including any outsourced systems and processes, and
other similar or related items of automated, computerized and/or Software systems (collectively, “Information Systems”) that are owned by or licensed to the Company or any of its Subsidiaries are adequate, in all material respects,
for the operation of the businesses of the Company and its Subsidiaries as currently conducted and as currently proposed to be conducted and the Company and its Subsidiaries, as applicable, have purchased a sufficient number of license seats for all
material Software currently used by the Company and its Subsidiaries in such operations. With respect to the Information Systems: (i) the Company and its Subsidiaries have taken commercially reasonable steps and implemented commercially
reasonable procedures to ensure that such Information Systems do not include contaminants, which procedures include the use of antivirus software to protect such Information Systems from becoming infected by viruses and other harmful code;
(ii) during the four (4) year period immediately preceding the date of this Agreement, there has not been any material malfunction that has not been remedied or replaced, or any material unplanned downtime or service interruption;
(iii) the Companies and its Subsidiaries promptly implement security patches or security upgrades for such Information Systems; (iv) during the four (4) year period immediately preceding the date of this Agreement, no third party
providing services to the Company or any Subsidiary has failed to meet any material service obligation; (v) the Company and its Subsidiaries have taken commercially reasonable steps and implemented commercially reasonable procedures to manage
its licenses to all Software that is a component of the Information Systems and ensure compliance with the terms of such licenses and have fully complied, in all material respects, with all vendor-initiated audits of usage of such Software; and
(vi) the Company and its Subsidiaries have taken commercially reasonable steps and implemented commercially reasonable procedures to mitigate risks that the Information Systems will be used or accessed by persons other than Company or
Subsidiary employees, contractors or other authorized personnel or other than in a manner in which such personnel are authorized to use or access the Information Systems. 

(i)    In the three (3) years prior to the date hereof, the Company and each Subsidiary has taken reasonable
precautions to protect the confidentiality, integrity and security of the Information Systems and all information stored or contained therein or transmitted thereby from any theft or unauthorized use, access, interruption or modification by any
Person. The Information Systems are operated and maintained in accordance with customary industry standards and practices for entities operating businesses similar to the business of the Company, including with respect to redundancy, reliability,
scalability, and security, and are currently performing, and have performed for four (4) years prior to the date hereof, in material conformance with their respective specifications and documentation. The Information Systems have security, back-ups and disaster recovery arrangements in place, and hardware and software support, maintenance and trained personnel which are sufficient in all material respects for the current and currently-anticipated
future needs of the businesses of the Company and its Subsidiaries. The Company and each Subsidiary maintains commercially reasonable disaster recovery and security plans, procedures and facilities, designed to minimize business

  
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interruptions in a timely fashion. In the four (4) years prior to the date hereof, to the Knowledge of the Company, there has been no actual or alleged material security breach, or material
unauthorized use, access or intrusion, of any Information System. 
 (j)    The Company and each Subsidiary of the
Company maintains policies and procedures regarding data security and privacy that are standard in the industry and, in any event, in compliance with all their obligations under applicable Law in all material respects. The Company and each
Subsidiary is in material compliance with all applicable Laws governing the collection and use of personally identifiable information and such collection and use is in accordance in all material respects with the Company’s privacy policy. The
Company and each Subsidiary of the Company has operational business continuity plans addressing the possibility of future significant business disruptions, including but not limited to procedures to follow in the event of the loss of key personnel,
equipment and facilities. Except as set forth in Section 3.16(j) of the Company Disclosure Schedules, to the Company’s Knowledge, there has been no material security breach relating to, material violation of any
security policy regarding, or material unauthorized access or unauthorized use of, any data in the possession, custody or control of the Company or any Subsidiary of the Company that contains confidential information or the personally identifiable
information of natural persons. There are not, and have not been during the prior three (3) years, any investigations, allegations, claims or occurrences, and no Person has commenced any legal proceeding against the Company or any Subsidiary,
pertaining to an actual or potential security or privacy breach or relating to the collection, storage, transfer, loss, damage or unauthorized access, disclosure, use, modification or other misuse of personally identifiable data. The Company is
entitled to transfer the information, including Personal Information, comprised in the Company’s business and the Company Systems at Closing without breach, in any material respect, of any applicable Law. The use and dissemination of any and
all data and information concerning individuals by the Company and its Subsidiaries is in compliance in all material respects with all applicable privacy policies, terms of use, customer agreements and Law. The transactions contemplated to be
consummated hereunder as of the Closing will not violate, in any material respect, any privacy policy, privacy notice, terms of use, customer agreements or Law relating to the use, dissemination, or transfer of any such data or information. 

(k)    The Company has taken commercially reasonable steps to prevent the violation by the Company or any Subsidiary of
the rights of any Person with respect to personally identifiable information. The Company Systems and Company Products, including any portions of which provided by Third Party Processors, are sufficient to protect the privacy and confidentiality of
all personally identifiable information and third party information in compliance in all material respects with industry best practices and Applicable Laws. To the Company’s Knowledge, there have been no material unauthorized intrusions or
breaches of the security of any Information Systems operated or controlled by the Company or any Subsidiary or any Third Party Processor. 

(l)    Except as provided in Section 3.16(l) of the Company Disclosure Schedules, during the
twelve (12) months immediately prior to the date of this Agreement, neither the Company nor any of the Subsidiaries have received in writing any material warranty claims regarding the Company’s or any Subsidiaries’ products, services
or software, and to the Knowledge of the Company, there is no bug, defect, or error current in any of the Company’s or any Subsidiaries’ products, services or software that could lead to such warranty claims (other than ordinary course
warranty claims). 

  
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 (m)    None of the material Owned Intellectual Property was developed by or
on behalf of, pursuant to a Contract with, or using grants or any other subsidies of, any governmental or public entity or authority, university, corporate sponsor, or other third party. 

(n)    The consummation of the transactions contemplated hereby will not, pursuant to any Material Contract to which the
Company or any Subsidiary is a party, result in the loss or impairment of the Company’s or any Subsidiary’s right to own or use any material Company Intellectual Property Rights. Immediately subsequent to the Closing, the Owned
Intellectual Property Rights will be owned or available for use by the Company and its Subsidiaries on terms and conditions substantially the same as those under which the Company and its Subsidiaries own or use the Company Intellectual Property
Rights immediately prior to the Closing, without payment of additional fees. 
 Section 3.17.    Insurance
Coverage. The Company has made available to Parent a list of, and true and complete copies of, all insurance policies and fidelity bonds relating to the assets, business, operations, employees, officers or directors of the Company and the
Subsidiaries, in each case in effect as of the date of this Agreement. Except as set forth on Section 3.17 of the Company Disclosure Schedules, there is no claim by the Company or any Subsidiary pending under any of such policies or bonds as to
which coverage has been, in writing to the Company or any Subsidiary, questioned, denied or disputed by the underwriters of such policies or bonds or in respect of which such underwriters have reserved their rights. The Company and the Subsidiaries
have received no written notice from any insurance company with respect to the cancellation, non-renewal or termination of any insurance policy. 

Section 3.18.    Licenses and Permits. The Company and its Subsidiaries possess or have applied for all
material licenses, franchises, permits, certificates, approvals or other similar authorizations required by Applicable Law to own, lease, and operate their properties and assets and to conduct their business as currently conducted.
Section 3.18 of the Company Disclosure Schedules describes each license, franchise, permit, certificate, approval or other similar authorization affecting, or relating in any way to, the assets or business of the Company or
any Subsidiary (the “Permits”) (in each case as in existence as of the date of this Agreement), together with the name of the Governmental Authority issuing such Permit. The Permits are valid and in full force and effect. Neither
the Company nor any Subsidiary is in, or since January 1, 2015 has been, in default under the Permits. Neither the Company nor any of its Subsidiaries has received any written or, to the Knowledge of the Company, oral notice from any
Governmental Authority (a) indicating or alleging that the Company and its Subsidiaries do not possess any material Permit required to own, lease, and operate their properties and assets or to conduct their business as currently conducted or
(b) threatening or seeking to withdraw, revoke, terminate, or suspend any of the material Permits. None of the Permits will be subject to withdrawal, revocation, termination, or suspension as a result of the execution and delivery of this
Agreement or the consummation of the transactions contemplated by this Agreement, except for any such withdrawal, revocation, termination or suspension that would not reasonably be expected to be, individually or in the aggregate, material to the
Company. 

  
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 Section 3.19.    Finders’ Fees. Except as set
forth on Section 3.19 of the Company Disclosure Schedules, there is no investment banker, broker, finder or other intermediary which has been retained by or is authorized to act on behalf of the Company or any Subsidiary or
director or officer of the Company who might be entitled to any fee or commission in connection with the transactions contemplated by this Agreement. 

Section 3.20.    Labor Matters.  

(a)    The Company has provided Parent with a true and complete list of each employee of the Company or any Subsidiary as
of the date hereof and in the case of each such employee, the following information, if applicable, as of the date hereof: (i) title or position; (ii) date of hire; (iii) work location; (iv) whether full-time or part-time and
whether exempt or non-exempt; (v) whether absent from active employment and if so, the date such absence commenced and the anticipated date of return to active employment; and (vii) annual base
salary. The Company has provided Parent with a true and complete list of each individual independent contractor providing services to the Company or any Subsidiary as of the date hereof and in the case of each such individual independent contractor,
the following information as of the date hereof: (i) date of commencement of service; and (ii) independent contractor or consulting fees. 

(b)    The Company and each Subsidiary has been since January 1, 2015 and is in compliance in all material respects
with all applicable Laws respecting employment and employment practices, terms and conditions of employment, collective bargaining, disability, immigration, health and safety, wages, hours and benefits, harassment,
non-discrimination in employment, workers’ compensation, and unemployment compensation. 

(c)    There are no unfair labor practice charges or employee grievance claims, actions or charges pending against the
Company or any Subsidiary, and, to the Company’s Knowledge, no such charges have been threatened. 

(d)    Neither the Company nor any Subsidiary is or has been a party to or subject to, or is currently negotiating in
connection with entering into, any collective bargaining agreement, and, to the Company’s Knowledge, there has not been any organizational campaign, petition or other unionization activity seeking recognition of a collective bargaining unit
relating to any employee, director or independent contractor of the Company or any Subsidiary. There is no material labor strike, slowdown, stoppage, picketing, interruption of work or lockout pending or, to the Company’s Knowledge, threatened
against the Company or any Subsidiary. 
 (e)    Except as would not result in material liability to the Company and
its Subsidiaries, taken as a whole, (i) all individual independent contractors and consultants providing services to the Company or any Subsidiary have been properly classified as independent contractors for purposes of all Laws, including Laws
with respect to employee benefits, and (ii) all employees of the Company or any Subsidiary have been properly classified as overtime exempt or nonexempt under the Fair Labor Standards Act. 

  
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 Section 3.21.    Employee Benefit Plans. 

(a)    Section 3.21(a) of the Company Disclosure Schedules contains a correct and complete list identifying each
“employee benefit plan,” as defined in Section 3(3) of ERISA, each employment, severance or similar Contract, plan, arrangement or policy and each other plan or arrangement (written or oral) providing for compensation, bonuses,
profit-sharing, stock option or other stock related rights or other forms of incentive or deferred compensation, vacation benefits, insurance (including any self-insured arrangements), health or medical benefits, employee assistance program,
disability or sick leave benefits, workers’ compensation, supplemental unemployment benefits, severance benefits, retention benefits, flexible benefits, cafeteria plan, fringe benefits and post-employment or retirement benefits (including
compensation, pension, health, medical or life insurance benefits) (i) which is maintained, administered or contributed to by the Company or any Subsidiary, (ii) which covers any current or former employee, officer, director or independent
contractor of the Company or any Subsidiary (including any such plan of an ERISA Affiliate), or (iii) with respect to which the Company or any Subsidiary has any liability (including any such plan of an ERISA Affiliate). Such plans are referred
to collectively herein as the “Employee Plans.” Copies of such Employee Plans (and, if applicable, related trust or funding agreements or insurance policies or contracts) and all amendments thereto (including an accurate description
of any material unwritten plan, as in effect on the date hereof) have been provided to Parent together with, if applicable, the most recent annual report (Form 5500 including, if applicable, Schedule B thereto) prepared in connection with any such
plan or trust, actuarial report, accountant’s opinion of the plan’s financial statements, summary plan description, and Internal Revenue Service determination or opinion letter. 

(b)    None of the Company, any Subsidiary, any ERISA Affiliate or any predecessor thereof sponsors, maintains or
contributes to, or has any liability to, or has in the past sponsored, maintained or contributed to, or had any liability to, any plan subject to Title IV or Section 302 of ERISA or Section 412 of the Code. 

(c)    None of the Company, any Subsidiary, any ERISA Affiliate of the Company or any predecessor thereof contributes to,
or has in the past contributed to, any multiemployer plan, as defined in Section 3(37) of ERISA (a “Multiemployer Plan”). 

(d)    Each Employee Plan has been maintained and operated in compliance in all material respects with its terms and
Applicable Law, to the Knowledge of the Company no written notice has been issued to the Company by any Governmental Authority challenging such compliance, and, to the Knowledge of the Company, no event has occurred which would reasonably be
expected to cause any such Employee Plan to fail to comply with such requirements. Each Employee Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter (or opinion letter on which
the Employee Plan is entitled to rely) from the Internal Revenue Service, and to the Company’s Knowledge, there is no reason why any such determination or opinion letter should be revoked and no event has occurred which will or could give rise
to a tax under Section 511 of the Code. No events have occurred with respect to any Employee Plan that could result in payment or assessment by or against the Company of any material excise taxes under Sections 4972, 4975, 4976, 4977, 4979,
4980B, 4980D, 4980E or 5000 of the Code and none of the Company, any Subsidiary or any of its ERISA Affiliates has engaged in any prohibited transaction. 

(e)    Neither the Company nor any Subsidiary has any current or projected liability in respect of post-employment or
post-retirement health or medical benefits for retired, former or current service providers of the Company or any Subsidiary, except as required under Part 6 of Title I of ERISA and Section 4980B of the Code or other Applicable Law. 

  
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 (f)    All material contributions required under each Employee Plan will be
made on or prior to the Closing Date except to the extent (i) reflected as a liability on the Closing Working Capital Statement or (ii) to the extent the liability for such contributions are retained by any Affiliate. 

(g)    Except as set forth on Section 3.21(g) of the Company Disclosure Schedules, there is no
Contract, plan or arrangement (written or otherwise) covering any current or former employee, independent contractor or shareholder of the Company or any Subsidiary that, individually or collectively, could constitute excess parachute payments (as
defined in Section 280G of the Code (without regard to subsection (b)(4) thereof)). Except as set forth on Section 3.21(g) of the Company Disclosure Schedules, no Person is entitled to any gross-up, make-whole or other additional payment from the Company or any of the Subsidiaries in respect of any Tax under Sections 4999 or 409A of the Code. 

(h)    Except as set forth on Section 3.21(h) of the Company Disclosure Schedules or as set
forth in this Agreement, no current or former service provider to the Company or any Subsidiary will become entitled to any bonus, retirement, severance or similar award, payment or benefit, or the enhancement of any such award, payment or benefit
(including acceleration of vesting or exercise of an incentive award), as a result of the transactions contemplated hereby. 

(i)    Other than claims under the Employee Plan in the ordinary course of business, there is no action, suit,
investigation, audit, claim or proceeding pending against or involving or, to the Knowledge of the Company, threatened against or involving any Employee Plan before any arbitrator or any Governmental Authority, and, to the Knowledge of the Company,
no facts exist which could give rise to any such actions, suits, investigations audits, claims or proceedings. 

(j)    None of the assets of any Employee Plan are invested in employer securities or employer real property. 

(k)    There have been no acts or omissions by the Company, any Subsidiary, or any of their ERISA Affiliates which have
given rise to or may give rise to interest, fines, penalties, taxes or related charges under Section 502 of ERISA or Chapters 43, 47, 68 or 100 of the Code for which the Company, any Subsidiary, or any of their ERISA Affiliates may be liable or
under Section 409A of the Code for which the Company, any Subsidiaries, or any of their ERISA Affiliates or any participant in any Employee Plan that is a nonqualified deferred compensation plan (within the meaning of Section 409A of the
Code) may be liable. 
 (l)    Each Employee Plan which constitutes a “group health plan” (as defined in
Section 607(i) of ERISA or Section 4980B(g)(2) of the Code), including any plans of current and former affiliates which must be taken into account under Sections 4980B and 414(t) of the Code or Sections
601-608 of ERISA, have been operated in compliance with applicable law, including the continuation coverage requirements of Section 4980B of the Code and Section 601 of ERISA and the portability and
nondiscrimination requirements of Sections 9801 and 9802 of the Code and Sections 701-707 of ERISA, to the extent such requirements are applicable. 

  
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 (m)    None of the Employee Plans is a multiple employer pension plan or a
multiple employer welfare arrangement (within the meaning of Section 3(40) of ERISA). 
 (n)    To the Knowledge
of the Company, there has been no act or omission that would impair the ability of the Company or its Subsidiaries (or any successor thereto) to unilaterally amend or terminate any Employee Plan (to the extent the Company or its Subsidiaries would
otherwise have the right to unilaterally amend or terminate such Employee Plan). 

Section 3.22.    Environmental Matters. Except as could not reasonably be expected to have a Material Adverse
Effect or as disclosed in Section 3.22 of the Company Disclosure Schedules: 
 (a)    Since
January 1, 2015, no written notice, notification, demand, request for information, citation, summons or order has been received, no complaint has been filed, no penalty has been assessed and no Proceeding or review is pending or, to the
Company’s Knowledge, threatened with respect to any matters relating to the Company or any Subsidiary and relating to or arising out of any Environmental Law or Hazardous Substance; 

(b)    Neither the Company nor any Subsidiary nor, to the Company’s Knowledge, has any other person had a release of
Hazardous Substances at any property owned, operated or leased by the Company or any Subsidiary in violation of Environmental Laws or that would reasonably be expected to result in a liability of the Company or any Subsidiary for investigation,
remediation or other response actions pursuant to Environmental Laws; and 
 (c)    The Company and its Subsidiaries
are in compliance with all Environmental Laws and, since January 1, 2015, have obtained and are in compliance with all Environmental Permits; such Environmental Permits are valid and in full force and effect. 

Section 3.23.    Affiliate Transactions. Except as set forth on Section 3.23
of the Company Disclosure Schedules, neither (a) any stockholder, director, officer or employee in senior management of the Company or any Subsidiary, nor (b) any Affiliate or any “associate” or any member of the “immediate
family” (as such terms are respectively defined in Rules 12b-2 and 16a-1 of the 1934 Act) of any Person described in the foregoing clauses (a) or
(b) (each of the foregoing, a “Related Party”), (i) is a party to any transactions, agreements, commitments, arrangements or understandings with the Company or any Subsidiary (other than (A) as reflected in the
Stockholder Agreement, (B) in the case of any current or former director, officer or employee in senior management of the Company or any Subsidiary, rights and claims for indemnification or to advancement or reimbursement of expenses that any
such person may have in his or her capacity as a current or former director, officer or employee in senior management of the Company or any Subsidiary to the extent such person is entitled thereto under Applicable Law, the organizational documents
of the Company, the Surviving Corporation or any Subsidiary or any agreement required to be disclosed in Section 3.10 of the Company Disclosure Schedules or (C) in the case of a current or former employee, any rights
or claims which such 

  
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person may have arising out of or related to such person’s status as an employee of the Company or a Subsidiary with respect to payment of accrued and unpaid wages, compensation earned,
unreimbursed business expenses and/or coverage under any Employee Plan), or (ii) is engaged, directly or indirectly, in the conduct of the business of or provides services to the Company or any Subsidiary (other than, in the case this clause
(ii), in its capacity as a Stockholder or as a director, officer or employee in senior management of the Company or any Subsidiary). 

Section 3.24.    Taxes. 

(a)    All income and other material Tax Returns of the Company and its Subsidiaries required to have been filed have been
timely filed (taking into account valid extensions of time to file). All such Tax Returns were true, correct and complete in all material respects. Neither the Company nor any Subsidiary is currently the beneficiary of any extension of time within
which to file any Tax Return. All income Taxes, escheat or unclaimed property and other material Taxes due and payable of the Company or any Subsidiary (whether shown on any Tax Return) have been timely paid in full. 

(b)    Neither the Company nor any of its Subsidiaries has granted any extension or waiver of the statute of limitations
period applicable to any Tax Return or with respect to any Tax assessment or deficiency, which period (after giving effect to such extension or waiver) has not yet expired. There is no ongoing claim, audit, dispute, investigation or action made in
writing or, to the Knowledge of the Company, threatened, against or with respect to the Company or any of its Subsidiaries in respect of any Tax, and neither the Company nor its Subsidiaries have received any written requests for information or
other written notice of any of the foregoing. 
 (c)    Except as set forth on
Section 3.24(c) of the Company Disclosure Schedules, neither the Company nor any of its Subsidiaries (i) has been a member of an affiliated, consolidated, combined, unitary or similar group for Tax purposes within the
last five (5) years (other than a group of which the Company was or Actua is the parent), (ii) has any liability for the Taxes of any Person (other than the Subsidiaries) under Treasury Regulations
Section 1.1502-6 (or any similar provision of state, local or non-U.S. Law), as transferee or successor, by contract, or otherwise or (iii) is party to any Tax
sharing agreement. 
 (d)    No written claim or assertion has been made, or has been threatened, by any Taxing
Authority against the Company or any of its Subsidiaries in any jurisdiction where the Company (or any of its Subsidiaries, as applicable) does not currently file a Tax Return that it is or may be subject to Tax by such jurisdiction. 

(e)    Neither the Company nor any of its Subsidiaries has participated in a “reportable transaction” within
the meaning of Treasury Regulations Section 1.6011-4(b). Neither the Company nor any of its Subsidiaries was a distributing corporation or a controlled corporation in a transaction intended to be governed
by Section 355 or Section 361 of the Code within the last two (2) years. 
 (f)    The Company and its
Subsidiaries have deducted or withheld and timely paid over to the proper Taxing Authorities all material Taxes required to have been deducted or 

  
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withheld and paid over, and all Tax Returns and forms required with respect thereto have been properly completed and timely filed. There are no Liens on the assets or stock of any of the Company
or its Subsidiaries with respect to Taxes other than Liens for Taxes not yet due and payable. 
 (g)    Neither the
Company nor any of its Subsidiaries will be required to include any material item of income in, or exclude any material deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any: 

(i)    change in method of accounting for a taxable period ending on or prior to the Closing Date; 

(ii)    “closing agreement” as described in Section 7121 of the Code (or any corresponding or similar
provision of state, local, or non-U.S. Tax Law) executed on or prior to the Closing Date; 

(iii)    intercompany transactions or any excess loss account described in the Treasury Regulations under
Section 1502 of the Code (or any corresponding or similar provision of state, local, or non-U.S. income Tax Law); 

(iv)    installment sale or open transaction disposition made on or prior to the Closing Date; 

(v)    prepaid amount received on or prior to the Closing Date, except to the extent of deferred revenue excluded from
the calculation of Closing Working Capital; or 
 (vi)    election under Section 108(i) of the Code. 

(h)    Section 3.24(h) of the Company Disclosure Schedule provides the U.S. federal income tax classification of
the Company and each of its Subsidiaries. Neither the Company nor any of its Subsidiaries has had a U.S. federal income tax classification other than the classification set forth on Section 3.24(h) of the Company Disclosure
Schedules since the date such entity was organized. 
 (i)    The Company and each of its Subsidiaries has
(i) properly collected and remitted sales, use, property, and similar Taxes with respect to all sales made to its customers and (ii) for all sales that are exempt from sales and similar Taxes and that were made without charging or
remitting sales or similar Taxes, received and retained any appropriate Tax exemption certificates and other documentation qualifying such sale as exempt. 

(j)    All accounting entries (including charges and accruals) for Taxes with respect to the Company and its Subsidiaries
reflected on the Balance Sheet of the Company and its Subsidiaries (excluding any provision for deferred income taxes reflecting either differences between the treatment of items for accounting and income tax purposes or carryforwards) are adequate
to cover any Tax liabilities accruing through the Balance Sheet Date. For the period beginning after the Balance Sheet Date and ending on the Closing Date, the Company and its Subsidiaries have not incurred or accrued any liability for Taxes other
than in the ordinary course of business. 

  
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 (k)    Immediately after the Closing Date, neither the Company nor any
Subsidiary will have any material deferred intercompany items within the meaning of Treasury Regulations Section 1.1502-13, and at such time there will not exist any material excess loss account within
the meaning of Treasury Regulations Section 1.1502-19 with respect to the stock of the Company or any Subsidiary. 

(l)    The Company and its Subsidiaries are and have been in compliance in all material respects with any Applicable Laws
relating to unclaimed or abandoned property or escheat. 
 Section 3.25.    Customers.
Section 3.25 of the Company Disclosure Schedule sets forth (a) the names of the top ten (10) customers of the Company or any Subsidiary in terms of GAAP revenues generated in the aggregate for the Company and
the Subsidiaries for each of the 12-month periods ending December 31, 2015 and December 31, 2016 (collectively, the “Key Customers”) and (b) the aggregate GAAP revenues
generated by each Key Customer for the Company and the Subsidiaries during such periods. Except as set forth in Section 3.25 of the Company Disclosure Schedule, no Key Customer has canceled otherwise terminated its
relationship with the Company or any Subsidiary or has materially decreased its usage or purchase of the products or services of the Company or any Subsidiary. No Key Customer has, to the Knowledge of the Company, threatened to terminate, cancel or
otherwise materially and adversely modify its relationship with the Company or any Subsidiary, or to decrease materially or limit its usage, purchase or distribution of the products or services of the Company or any Subsidiary. 

Section 3.26.    Suppliers. Section 3.26(a) of the Company Disclosure
Schedule sets forth (a) the names of the top ten (10) suppliers of the Company or any Subsidiary (excluding third-party managers) in terms of aggregate consideration paid by the Company and the Subsidiaries for goods or services during
each of the 12-month periods ending on December 31, 2015 and December 31, 2016 (collectively, the “Key Suppliers”) and (b) the amount of consideration paid to each Key Supplier
by the Company and the Subsidiaries during such periods. No Key Supplier has canceled otherwise terminated its relationship with the Company or any Subsidiary or has materially decreased the amount of products or services it provides to the Company
or any Subsidiary. No Key Supplier has, to the Knowledge of the Company, threatened to terminate, cancel or otherwise materially and adversely modify its relationship with the Company or any Subsidiary, or to decrease materially or limit the
products or services it provides to the Company or any Subsidiary. 
 Section 3.27.    Disclaimer of
Representations and Warranties. Except for the representations and warranties contained in this Article 3, the Company makes no other representations or warranties, express or implied, and the Company hereby disclaims any such
other representations or warranties, whether by the Company, any Subsidiary of the Company or any of their respective officers, directors, employees, agents or representatives, or any other Person, with respect to this Agreement and the transactions
contemplated hereby, notwithstanding the delivery or disclosure to Parent, Merger Subsidiary or any of their respective directors, officers, employees, agents or representatives, or any other Person, of any documentation or other information by the
Company, any Subsidiary of the Company or any of their respective officers, directors, employees, agents or representatives, or any other Person, with respect to any of the foregoing. 

  
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 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF PARENT AND
MERGER SUBSIDIARY 
 Parent and Merger Subsidiary, jointly and severally, represent and warrant to the Company
as follows: 
 Section 4.01.    Corporate Existence and Power. Each of Parent and Merger Subsidiary is a
corporation duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation and has all corporate or similar powers and all material governmental licenses, authorizations, permits, consents and approvals
required to carry on its business as now conducted. Since the date of its incorporation, Merger Subsidiary has not engaged in any activities other than in connection with or as contemplated by this Agreement. 

Section 4.02.    Corporate Authorization. The execution, delivery and performance by Parent and Merger
Subsidiary of this Agreement and the consummation of the transactions contemplated hereby are within the corporate powers of Parent and Merger Subsidiary and, except for the adoption of this Agreement by Parent in its capacity as the sole
stockholder of Merger Subsidiary, have been duly authorized by all necessary corporate or similar action. This Agreement, the Escrow Agreement and the Confidentiality Agreement (as defined below) each constitute a valid and binding agreement of each
of Parent and Merger Subsidiary enforceable against Parent and Merger Subsidiary in accordance with its terms (subject to limitations on enforcement imposed by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
other similar laws affecting creditors’ rights generally). 
 Section 4.03.    Governmental
Authorization. The execution, delivery and performance by Parent and Merger Subsidiary of this Agreement and the consummation by Parent and Merger Subsidiary of the transactions contemplated hereby require no material action by or in respect of,
or material filing with, any Governmental Authority other than (a) the filing of the Certificate of Merger with respect to the Merger with the Secretary of State of the State of Delaware and appropriate documents with the relevant authorities
of other states in which the Company is qualified to do business, (b) compliance with any applicable requirements of the 1933 Act, the 1934 Act and any other applicable state or federal securities laws, (c) filings and approvals under the
HSR Act and (d) any actions or filings the absence of which would not reasonably be expected to, individually or in the aggregate, materially delay Parent’s or Merger Subsidiary’s ability to consummate the transactions contemplated by
this Agreement. 
 Section 4.04.    Noncontravention. The execution, delivery and performance by Parent and
Merger Subsidiary of this Agreement and the consummation of the transactions contemplated hereby do not and will not (a) contravene, conflict with or result in any violation or breach of any provision of the certificate of incorporation or
bylaws or equivalent organizational documents of Parent or Merger Subsidiary or (b) assuming compliance with the matters referred to in Section 4.03 of this Agreement, contravene, conflict with or result in any
violation or breach of any provision of any Applicable Law, with only such exceptions, in the case of clause (b), as would not reasonably be expected to, individually or in the aggregate, materially delay Parent’s or Merger
Subsidiary’s ability to consummate the transactions contemplated by this Agreement. 

  
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 Section 4.05.    Litigation. There is no Proceeding pending
against, or to the Knowledge of Parent, threatened against or affecting, Parent or Merger Subsidiary before any arbitrator or any Governmental Authority which in any manner challenges or seeks to prevent, enjoin, alter or materially delay the
transactions contemplated by this Agreement. 
 Section 4.06.    Finders’ Fees. Except
J.P. Morgan, there is no investment banker, broker, finder or other intermediary which has been retained by or is authorized to act on behalf of Parent or Merger Subsidiary who might be entitled to any fee or commission in connection with the
transactions contemplated by this Agreement. 
 Section 4.07.    Solvency. Immediately after giving effect
to the transactions contemplated by this Agreement, Parent and Merger Subsidiary shall each be able to pay its debts as they become due and shall own property having a fair saleable value greater than the amounts required to pay its debts (including
a reasonable estimate of the amount of all contingent liabilities). Immediately after giving effect to the transactions contemplated by this Agreement, Parent and Merger Subsidiary each shall have adequate capital to carry on its respective
businesses. No transfer of property is being made and no obligation is being incurred in connection with the transactions contemplated by this Agreement with the intent to hinder, delay or defraud either present or future creditors of Parent or
Merger Subsidiary. 
 Section 4.08.    Availability of Funds. Parent and Merger Subsidiary have and will
have at the Closing funds sufficient for the payment of the Aggregate Merger Consideration and for the satisfaction of all of their other obligations in connection with this Agreement. 

Section 4.09.    Non-Reliance on Estimates, Projections, Forecasts,
Forward-Looking Statements and Business Plans. In connection with the due diligence investigation of the businesses of the Company and its Subsidiaries by Parent and its Affiliates, stockholders, directors, officers, employees, agents,
representatives or advisors, Parent and its Affiliates, stockholders, directors, officers, employees, agents, representatives and advisors have received and may continue to receive after the date hereof from the Company and its Subsidiaries,
stockholders, directors, officers, employees, agents, representatives and advisors certain estimates, projections, forecasts and other forward-looking information, as well as certain business plan information, regarding the business of the Company
or the Subsidiaries. Parent and Merger Subsidiary hereby acknowledge that there are uncertainties inherent in attempting to make such estimates, projections, forecasts and other forward-looking statements, as well as in such business plans, with
which Parent and Merger Subsidiary are familiar, that Parent and Merger Subsidiary are taking full responsibility for making their own evaluation of the adequacy and accuracy of all estimates, projections, forecasts and other forward-looking
information, as well as such business plans, so furnished to them (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information or business plans), and that Parent and Merger
Subsidiary will have no claim against the Company, the Stockholders or their respective Affiliates, or any of their respective stockholders, directors, officers, employees, agents, representatives or advisors, or any other person or entity, with
respect thereto. Accordingly, Parent and Merger Subsidiary hereby acknowledge and agree that 

  
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none of the Company, the Stockholders or their respective Affiliates, nor any of their respective stockholders, directors, officers, employees, agents, representatives or advisors, nor any other
person or entity, except to the extent specifically set forth in Article 3 of this Agreement, has made or is making any express or implied representation or warranty with respect to such estimates, projections, forecasts, forward-looking
statements or business plans (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking statements or business plans). 

Section 4.10.    No Other Representations or Warranties. Each of Parent and Merger Subsidiary
acknowledges that it has conducted to its satisfaction an independent investigation of the financial condition, results of operations, assets, liabilities, properties and projected operations of the Company and its Subsidiaries and their respective
businesses and, in making its determination to proceed with the transactions contemplated by this Agreement, each of Parent and Merger Subsidiary has relied solely on the results of its own independent investigation (subject only to the benefit of
the express representations and warranties of the Company set forth in Article 3 of this Agreement as qualified and limited by the Company Disclosure Schedules). Such representations and warranties by the Company constitute the sole and
exclusive representations and warranties of the Company to Parent and Merger Subsidiary in connection with the transactions contemplated hereby, and each of Parent and Merger Subsidiary acknowledges and agrees that the Company and its Affiliates are
making no representations or warranties whatsoever, express or implied, beyond those expressly given in Article 3 of this Agreement, as applicable, each as qualified and limited by the Company Disclosure Schedules, including any implied
warranty as to condition, merchantability or suitability as to the Common Stock, the Company or its Subsidiaries, the businesses thereof, or any of the assets of the Company or its Subsidiaries and it is understood that the Company makes no
representations and warranties concerning the Company or the Subsidiaries, their respective businesses, or their assets other than the express representations and warranties set forth in Article 3 of this Agreement as qualified and limited by
the Company Disclosure Schedules. 
 ARTICLE 5 

COVENANTS OF THE COMPANY 

Section 5.01.    Conduct of the Company. 

(a)    From the date hereof until the Closing Date, the Company shall conduct its and the Subsidiaries’ businesses in
the ordinary course of business consistent with past practice and use its commercially reasonable efforts to (i) preserve intact its present business organization and (ii) maintain relationships with its customers, lenders, suppliers and
others having material business relationships with it. 
 (b)    Without limiting the generality of the foregoing,
except (i) as set forth in Section 5.01 of the Company Disclosure Schedules, (ii) as required to comply with Applicable Law, GAAP or the provisions of this Agreement or (iii) with the prior written consent of
Parent (which consent shall not be unreasonably withheld, conditioned or delayed), until the earlier of the Closing Date and termination of this Agreement the Company shall not and shall not permit any of the Subsidiaries to: 

(i)    adopt or propose any change in the certificate of incorporation or bylaws or similar organizational documents of
the Company or any Subsidiary (whether by merger, consolidation or otherwise); 

  
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 (ii)    (A) split, combine or reclassify any shares of Common Stock or
capital stock of any Subsidiary, (B) declare, set aside or pay any dividend or other distribution (whether in cash, stock or property or any combination thereof) in respect of the Common Stock or capital stock of any Subsidiary (other than
dividends paid by any Subsidiary to the Company or another wholly-owned Subsidiary), or (C) redeem, repurchase or otherwise acquire or offer to redeem, repurchase, or otherwise acquire any Company Securities or any Subsidiary Securities; 

(iii)    (A) transfer, issue, pledge, deliver or sell, assign or authorize the issuance, delivery or sale of, or
otherwise dispose of, any shares of any Company Securities (other than in connection with the exercise of any Option) or Subsidiary Securities or the right to receive distributions thereon, or (B) amend any term of any Company Security or any
Subsidiary Security (in each case, whether by merger, consolidation or otherwise); 
 (iv)    commit to make any
capital expenditures following the Closing or any obligations, liabilities or commitments in respect thereof exceeding $250,000 for any individual project or $500,000 in the aggregate; 

(v)    merge or consolidate with any other Person or acquire (whether by merger, consolidation, acquisition of stock or
assets or otherwise), directly or indirectly, any assets, securities, properties, interests or businesses (or division thereof) other than the acquisition of assets or inventory in the ordinary course of business of the Company and its Subsidiaries;

 (vi)    other than in connection with actions permitted by Section 5.01(b)(iv), make any
loans, advances or capital contributions to, or investments in, any other Person; 
 (vii)    enter into any agreement
or arrangement that limits or otherwise restricts the Company, any Subsidiary or any of their respective Affiliates or any successor thereto from engaging or competing in any line of business, in any location or with any Person; 

(viii)    materially amend, materially modify or terminate any Material Contract (other than Contracts with third-party
managers and expiration in accordance with the terms thereof) or enter or commit to enter into any Contract that would be a Material Contract required to be disclosed pursuant to Section 3.10 (other than clause (v) of
Section 3.10(a)) if entered into prior to the execution of this Agreement, except in each case for renewals of Material Contracts with substantially similar terms as the existing Material Contact; 

(ix)    cancel, compromise, waive or settle, or offer or propose to cancel, compromise, waive or settle, (A) any
material Proceeding or other claim against the Company or any Subsidiary, (B) any stockholder litigation or stockholder dispute against the Company or any of its officers or directors or (C) any Proceeding or dispute that relates to the
transactions contemplated hereby (other than any such action with respect to Dissenting Shares in accordance with Section 2.08); 

(x)    make or change any material Tax election, change any annual Tax accounting period, adopt or change any method of
Tax accounting, enter any closing agreement with a Taxing Authority, or settle any material Tax claim, audit or assessment; 

  
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 (xi)    other than as required by the terms of any Employee Plan as in
effect on the date of this Agreement or Applicable Law, (i) grant or increase any severance, retention or termination pay to any employee of the Company or any Subsidiary (or amend any existing severance, retention or termination pay
arrangement), (ii) establish, adopt, amend or terminate any Employee Plan or establish or adopt a plan, agreement or arrangement that would have been an Employee Plan had it been in effect on the date of this Agreement, (iii) grant equity or
equity-based awards to any employee of the Company or any Subsidiary or (iv) increase compensation, bonus or other benefits payable to any director or employee of the Company or any Subsidiary, other than increases in the ordinary course of
business consistent with past practice; 
 (xii)    adopt a plan of or consummate a complete or partial liquidation,
dissolution, restructuring, recapitalization or other reorganization or filing of a petition in bankruptcy under any provisions of federal or state bankruptcy law or consent to the filing of any bankruptcy petition against it under any similar law;

 (xiii)    change any method of accounting or accounting practice of the Company or any Subsidiary, except for
changes that are (A) required by GAAP or Applicable Law or (B) made by the Company’s ultimate parent on a company-wide basis; 

(xiv)    (A) waive or abandon or otherwise dispose of any material Intellectual Property Rights of the Company or any
Subsidiary or (B) sell, transfer, lease, license, convey or otherwise dispose of any material assets of the Company or any Subsidiary; 

(xv)    (A) hire or otherwise enter into any employment or independent contractor or individual consulting agreement or
arrangement with any Person providing for base salary or base fees, on an annualized basis, in excess of $200,000 or terminate any employee, independent contractor or individual consultant whose base salary or base fees exceeds, on an annualized
basis, $200,000 or (B) enter into any collective bargaining agreement with any labor organization;  

(xvi)    cancel, reduce or fail to maintain insurance coverage currently applicable to the Company or any Subsidiary,
except in for renewals or replacements of insurance coverage with substantially similar terms as the existing coverage; or 

(xvii)    agree, resolve or commit to do any of the foregoing set forth in clauses (i) through (xvi). 

Section 5.02.    Access to Information; Confidentiality. 

(a)    Subject to the Confidentiality Agreement, from the date hereof until the Effective Time, the Company shall
(i) give, and will cause each Subsidiary to give, Parent, its counsel, financial advisors, auditors and other authorized representatives reasonable access during normal business hours to the offices, properties, assets, books and records, and
Tax Returns of the Company and the Subsidiaries, (ii) furnish, and shall cause the Company and each Subsidiary to make available, to Parent, its counsel, financial advisors, auditors and other authorized representatives such financial and
operating data and other information relating to the Company or any Subsidiary as such Persons may reasonably request and (iii) instruct the 

  
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employees, counsel and financial advisors of the Company or any Subsidiary to cooperate with Parent in its investigation of the Company or any Subsidiary; provided, that neither Parent,
Merger Subsidiary nor any of their representatives shall (x) contact any employee, officer, customer, service provider, vendor or supplier of the Company or any Subsidiary without the prior written consent of the Company (which consent shall
not be unreasonably withheld, conditioned or delayed) other than contacts in the ordinary course of Parent’s and its Affiliates’ business that do not reference the Company, its Subsidiaries or the transactions contemplated by this
Agreement, (y) contact any customer of the Company or any Subsidiary (or any agent of any such customer) with respect to the Tax Analysis or (z) be permitted to conduct any Phase IIs or other intrusive environmental testing, sampling or
investigation; provided, further, that notwithstanding anything to the contrary in the foregoing proviso, at Parent’s reasonable request, the Company shall arrange for Parent, Merger Subsidiary and their representatives to have
meetings with the senior management employees and officers of the Company and its Subsidiaries during normal business hours for transition planning purposes so long as the Representative or officers of the Company participate in such meetings. Any
investigation or access pursuant to this Section 5.02 shall be conducted in such manner as not to interfere unreasonably with the operations, activities and employees of the Company. Notwithstanding anything to the contrary
in this Agreement, nothing in this Section 5.02 shall require the Company or its Affiliates to disclose any information or make available any records to Parent if such disclosure or the provision of such records
(A) would reasonably be expected to result in the disclosure or provision of competitively sensitive business information, (B) would violate the maintenance of attorney-client or other legal privileges or doctrines, (C) would be in
violation of Applicable Law or (D) would include individual medical histories or other information which in the Company’s good faith opinion the disclosure of which could subject the Company or any Subsidiary to risk of liability. 

(b)    The Company hereby agrees to be bound by and comply with the terms of the
Non-Use and Non-Disclosure Agreement entered into by and between the Company and Parent, dated May 9, 2017 (the “Confidentiality Agreement”), which
are hereby incorporated by reference into this Agreement and shall continue in full force and effect until the Effective Time (at which point it shall terminate in full), such that the information obtained by the Company or its officers, employees,
agents or representatives in connection with the negotiation and execution of this Agreement or the transactions contemplated by this Agreement or as otherwise provided for in this Agreement shall be governed by the terms of the Confidentiality
Agreement. 
 Section 5.03.    Notices of Certain Events. Prior to the Closing, the Company shall promptly
notify Parent of: 
 (a)    any written notice or other written communication from any Person alleging that the consent
of such Person is or may be required in connection with the transactions contemplated by this Agreement; 
 (b)    any
written notice or other written communication from any Governmental Authority in connection with the transactions contemplated by this Agreement; and 

  
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 (c)    (i) any event, change, or occurrence that (A) causes, or would
reasonably be expected to cause, any representation or warranty of the Company set forth in this Agreement to be untrue or inaccurate in any material respect or (B) causes, or would reasonably be expected to cause, the Company to fail to
perform or comply with in any material respect any covenant or agreement of the Company set forth in this Agreement, in each case of clause (A) and (B), which the Company believes would or would be reasonably expected to cause a condition to
Closing set forth in Section 9.02 to not be satisfied and (ii) any actions, suits, claims, investigations or proceedings commenced or, to the Company’s Knowledge threatened against the Company or any Subsidiary that, if pending on the
date of this Agreement, would have been required to have been disclosed in Section 3.11 of the Company Disclosure Schedules or that relates to the consummation of the transactions contemplated by this Agreement;
provided, however, that (i) the delivery of any notice pursuant to this Section 5.03 or otherwise shall not operate as a waiver or otherwise affect any representation, warranty or agreement given or made by the
Company or the remedies available hereunder to the party receiving that notice and (ii) any failure of the Company to provide prompt notice under this Section 5.03 shall not be deemed to be a breach of a covenant under
this Section 5.03. 
 Section 5.04.    Resignations. At or prior to the Closing,
the Company shall deliver to Parent the resignations of all officers and directors of the Company and each Subsidiary (solely in their capacities as such), in each case, as requested by Parent, with such resignations to be effective as of the
Effective Time. 
 Section 5.05.    Exclusivity. From the date of this Agreement until the Effective
Time, the Company shall not, and shall cause its Affiliates and its and their respective directors, officers, managers, employees, agents, representatives and advisors not to (a) solicit, initiate, or encourage the submission of any proposal or
offer from any other Person relating to a potential business combination with or acquisition of the Company or any Subsidiary (whether by way of merger, purchase of securities, purchase of assets, or otherwise) or any portion of the Company
Securities or assets of the Company or Subsidiary Securities or assets of any Subsidiary (a “Competing Transaction”), (b) participate in or continue any activities, discussions, or negotiations regarding a Competing Transaction,
(c) provide information regarding the Company or any Subsidiary to, or (d) enter into or agree to enter into any Contract with, any Person, other than Parent, in connection with a possible Competing Transaction with such Person. The
Company shall, and shall cause its Affiliates and its and their respective directors, officers, managers, employees, agents, representatives and advisors, to, immediately cease any existing activities, discussions, and negotiations with any other
Person with respect to a Competing Transaction. The Company shall promptly advise Parent of the receipt by the Company or any of its Affiliates or its and their respective directors, officers, managers, employees, agents, representatives or
advisors of any oral or written communication, proposal, offer, or inquiry from any other Person regarding a Competing Transaction, including the identity of the Person making the same and the material terms and conditions of any proposal or offer.

 Section 5.06.    Financial Statements. 

(a)    For each calendar month ended after the date of this Agreement but at least thirty (30) days prior to the
Closing Date, the Company shall provide to Parent, within thirty (30) days after the end of such calendar month, unaudited consolidated financial statements 

  
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of the Company and its Subsidiaries, consisting of a balance sheet as of the end of each such month and an income statement for such month and for the portion of the year then ended (such
financial statements, “Interim Financial Statements”). 
 (b)    At least ten (10) days prior to
the Closing, the Company shall provide to Parent, the audited consolidated financial statements of the Company and its Subsidiaries prepared in accordance with GAAP, consisting of the audited consolidated balance sheet at December 31, 2015 and
December 31, 2016 and the related statements of earnings and retained earnings and cash flows for each of the fiscal years then ended, accompanied by an unqualified opinion of KPMG LLP (the “Year End Financial Statements”).

 (c)    At least ten (10) days prior to the Closing, the Company shall deliver to Parent the unaudited interim
consolidated financial statements of the Company and its Subsidiaries for the first, second and third fiscal quarters of calendar year 2016 and for the first and second fiscal quarters of calendar year 2017, in each case consisting of a consolidated
balance sheet as of the last day of the fiscal period and the related statements of earnings and retained earnings and cash flows for the three-, six- or nine-month period then ended, and the corresponding
three-, six- or nine-month period of the prior fiscal year. Such unaudited interim consolidated financial statements shall be prepared in accordance with GAAP on the same basis as the Year End Financial
Statements and shall have been reviewed by KPMG LLP using professional standards and procedures for conducting such reviews as required by Rule 10-01 of Regulation S-X
for interim financial statements filed in a periodic report with the SEC. 
 (d)    For each fiscal quarter ending
after the date of this Agreement (but not the fourth fiscal quarter of any year) but at least forty-five (45) days prior to the Closing Date, the Company shall deliver to Parent the unaudited interim consolidated financial statements of the
Company and its Subsidiaries for such fiscal quarter, consisting of a consolidated balance sheet as of the last day of such fiscal quarter and the related statements of earnings and retained earnings and cash flows for the three-, six- or nine-month period then ended, as applicable, and the corresponding three-, six- or nine-month period of the prior fiscal year. Such unaudited interim consolidated
financial statements shall be prepared in accordance with GAAP on the same basis as the Year End Financial Statements and shall have been reviewed by KPMG LLP using professional standards and procedures for conducting such reviews as required by
Rule 10-01 of Regulation S-X for interim financial statements filed in a periodic report with the SEC. 

(e)    The financial statements referred to in clauses (a), (b) and (c) above shall conform to
the requirements of Regulation S-X (“Regulation S-X”) under the Securities Act of 1933, as amended (the “Securities Act”) and the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), applicable to financial statements to be filed by an acquirer. 

(f)    In addition, the Company shall provide such information, or reasonable access thereto, with respect to the Company
and its Subsidiaries as may be reasonably requested by Parent to permit Parent to prepare or file pro forma financial information required by the rules of the SEC (provided that, in connection with such pro forma financial information, the Company
and its Subsidiaries shall have no obligation to prepare such pro forma financial information or to provide (w) any information related to the Parent, Merger Subsidiary or any of their pre-Closing
Affiliates, (x) the pro forma capitalization of the Company after giving effect to 

  
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the Closing or the financing of the transactions contemplated hereby, (y) any adjustments, assumptions, estimates, projections or other information in connection with the potential purchase
price accounting treatment of the Merger or (z) any assumptions with respect to equity or indebtedness outstanding as a result of the financing of the transactions contemplated hereby, any interest expense, fees, original issue discount, or
other economics in connection with such financing or any fees and expenses of any Person (other than the Company and its Subsidiaries) incurred or otherwise payable in connection with the consummation of the Merger and the other transactions
contemplated hereby). The Company also shall cooperate with Parent to provide any additional historical financial information regarding the Company and its Subsidiaries, or access thereto, that is reasonably requested by Parent in connection with
Parent’s analysis of the financial statements referred to in clauses (a), (b) and (c) above required to be included in any reports or other filings by Parent under applicable SEC rules and regulations. The Company
shall keep Parent informed at any time upon Parent’s reasonable request in reasonable detail of the status of its efforts to prepare the financial statements referred to in clauses (a), (b) and (c) above. 

(g)    From and after the Closing Date, Representative shall use its commercially reasonable efforts to assist Parent
(i) in the preparation of any financial statements of the Company for any periods prior to the Closing required to be filed by Parent with the SEC, (ii) obtain the consent of KPMG LLP to the inclusion of its opinion with respect to the
Company’s financial statements in one or more reports or registration statements that may be filed by the Parent under applicable SEC rules and regulations, (iii) with the preparation of any pro forma financial statements or other
financial information that may be required to be filed by Parent with respect to the Company and its Subsidiaries under applicable SEC rules and regulations and (iv) requesting that KPMG LLP issue one or more customary comfort letters with
respect to the financial information of the Company.  

Section 5.07.    Investment Advisory Clients; Investment Advisory Contracts. From the date of this Agreement
until the Effective Time, the Company shall promptly make available to Parent true and complete copies of each Investment Advisory Contract (other than Investment Advisory Contracts with end clients) to which the Company or any of its Subsidiaries
becomes bound from and after the date that is five (5) Business Days prior to the date hereof through the date that is five (5) Business Days prior to the Closing Date (including, investment guidelines, strategies, policies or restrictions
applicable thereto). On or prior to the Closing Date, the Company shall deliver to Parent an update to Section 3.14 of the Company Disclosure Schedules containing a full and complete list of each Investment Advisory Contract and
any other Contract with an Investment Advisory Client related thereto (other than Investment Advisory Contracts and other Contracts with end clients), in each case to which the Company or any of its Subsidiaries is bound as of the date that is five
(5) Business Days prior to the Closing Date. 
 Section 5.08.    4.01(k) Profit Sharing
Plan. The Company shall terminate its 401(k) Profit Sharing Plan effective immediately prior to Closing, unless Parent provides written notice to the Company at least five (5) Business Days prior to the Closing Date. 

  
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 ARTICLE 6 

COVENANTS OF PARENT 

Section 6.01.    Confidentiality. Parent hereby agrees to be bound by and comply with the terms of the
Confidentiality Agreement, which are hereby incorporated by reference into this Agreement and shall continue in full force and effect until the Effective Time (at which point it shall terminate in full), such that the information obtained by Parent,
or its officers, employees, agents or representatives in connection with the negotiation and execution of this Agreement or the transactions contemplated by this Agreement or otherwise set forth in this Agreement shall be governed by the terms of
the Confidentiality Agreement. In the event this Agreement is terminated prior to the Effective Time, the Confidentiality Agreement shall nevertheless continue in full force and effect in accordance with the terms and conditions thereof. 

Section 6.02.    Maintenance of Records; Access. 

(a)    For a period of 7 years after the Effective Time (the “Record Maintenance Period”), Parent shall
(i) cause the Surviving Corporation to retain its books and records for periods prior to the Closing and (ii) cause the Surviving Corporation to grant to the Representative such access to financial records and other information in its
possession related to conduct of the Surviving Corporation, and such cooperation and assistance as shall be reasonably required to enable the Representative to complete its legal, regulatory, stock exchange and financial reporting requirements and
for any other reasonable business purpose, including in respect of litigation and insurance matters; provided, however, that any such access shall not unreasonably interfere with the normal operations of the Surviving Corporation and its
Affiliates; provided, further, that Parent shall not be required to provide access to the portion of any records, Tax Returns or any other information, in each case which includes any information relating to any member (other than the
Surviving Corporation or the Surviving Corporation’s Subsidiaries) of a consolidated, unitary or combined group including the Parent and, to the extent Parent does not provide access to such records, Tax Returns or other information, Parent
shall use reasonable best efforts to provide such information in a manner that does not include any information relating to any member (other than the Surviving Corporation or the Surviving Corporation’s Subsidiaries) of a consolidated, unitary
or combined group including the Parent. Notwithstanding the foregoing, Parent or the Surviving Corporation may dispose of any such books and records during such 7-year period, so long as such party
first provides at least 30 calendar days written notice to the Representative of its intent to dispose of such books and records and permits the Representative (at its expense) to take possession thereof during such 30-day period. Any books and records retained by Parent or the Surviving Corporation or provided to the Representative pursuant to this Section 6.02(a), and the information
therein, shall be treated by Parent and/or the Surviving Corporation in the same manner as the Parent and/or the Surviving Corporation, as applicable, treats its own confidential information. Notwithstanding anything to the contrary in this
Agreement, nothing in this Section 6.02 shall require the Parent or the Surviving Corporation or any Subsidiary to disclose any information or make available any records to the Representative if such disclosure or the
provision of such records (i) would reasonably be expected to result in competitive harm to such disclosing party or its Affiliates, (ii) would violate the maintenance of attorney-client or other legal privileges or doctrines,
(iii) would be in violation of Applicable Law or (iv) would include medical histories or other information which in the Parent’s good faith opinion the disclosure of which could subject the Parent or the Surviving Corporation to risk
of liability. 

  
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 Section 6.03.    Obligations of Merger Subsidiary. Parent will
cause Merger Subsidiary to perform its obligations under this Agreement and to consummate the Merger on the terms and conditions set forth in this Agreement. 

Section 6.04.    Indemnification; D&O Insurance. 

(a)    From and after the Effective Time until the sixth anniversary of the Closing Date, each of Parent and the Surviving
Corporation shall, jointly and severally, (i) indemnify and hold harmless each present and former director and officer of the Company and each Subsidiary (collectively, the “Company Indemnified Parties”), against any and all
Damages incurred or suffered by any of the Company Indemnified Parties in connection with any Liabilities or any Proceeding, whether civil, criminal, administrative or investigative, arising out of or pertaining to matters existing or occurring at
or prior to the Effective Time, whether asserted or claimed prior to, at or after the Effective Time, to the fullest extent that the Company or any Subsidiary (as applicable) would have been permitted under Applicable Law and under the certificate
of incorporation and bylaws (or equivalent organizational documents) of the Company or such Subsidiary (as applicable), in each case as in effect on the date of this Agreement (but in each case, subject to the limitations on the Surviving
Corporation’s ability to indemnify its directors and officers under Section 145 of the DGCL), to indemnify such Company Indemnified Parties and (ii) advance reasonable expenses (including legal counsel fees) as incurred by any Company
Indemnified Party in connection with any matters for which such Company Indemnified Party is entitled to indemnification from Parent pursuant to this Section 6.04 to the fullest extent permitted under Applicable Law or, if
greater, under the certificate of incorporation and bylaws (or equivalent organizational documents) of the Company or the applicable Subsidiary (as applicable), in each case, as in effect on the date of this Agreement; provided,
however, that the Company Indemnified Party to whom expenses are advanced provides an undertaking to repay such advances if it is ultimately and finally determined by a court of competent jurisdiction and all rights of appeal have lapsed that
such Company Indemnified Party is not entitled to indemnification under Applicable Law, the certificate of incorporation and bylaws (or equivalent organizational documents) of the Company or the applicable Subsidiary (as applicable), and pursuant to
this Section 6.04. In connection with clause (ii) above, to the extent monies are not provided for in advance, Parent and the Surviving Corporation shall reimburse the applicable Company Indemnified Party
within 30 days of receipt by the Parent or Surviving Corporation of a written claim therefor. 
 (b)    At or prior to
the Effective Time, the Company shall purchase a prepaid directors’ and officers’ liability insurance policy or policies (i.e., “tail coverage”), which policy or policies shall cover those persons who are currently covered by the
Company’s directors’ and officers’ liability insurance policy for an aggregate period of not less than 6 years from the Effective Time with respect to claims arising from facts or events that occurred at or before the Effective Time,
including with respect to the transactions contemplated by this Agreement, the premium for which shall be treated as an Unpaid Transaction Expense. 

  
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 (c)    The terms and provisions of this
Section 6.04 are intended to be in addition to the rights otherwise available to the Company Indemnified Parties by Applicable Law, charter, bylaw or agreement, and shall operate for the benefit of, and shall be enforceable
by, the Company Indemnified Parties and their respective heirs and representatives, each of whom is an intended third party beneficiary of this Section 6.04. 

Section 6.05.    Financing. Parent and Merger Subsidiary shall use their respective reasonable best efforts to
take, or cause to be taken, all actions and do, or cause to be done, all things necessary to arrange and obtain the financing of the transactions contemplated hereby under the Existing Credit Agreement as promptly as practicable following the date
of this Agreement on the terms and conditions described in the Existing Credit Agreement, including (i) maintaining in effect the Existing Credit Agreement; (ii) satisfying on a timely basis all conditions precedent to funding applicable
to Parent and Merger Subsidiary contained in the Existing Credit Agreement with respect to the financing of the transactions contemplated hereby under the Existing Credit Agreement that are within its control; (iii) consummating the financing
of the transactions contemplated hereby under the Existing Credit Agreement at Closing (including by fully paying any and all fees that are due and payable under the Existing Credit Agreement); and (iv) enforcing the obligations of the other
parties to the Existing Credit Agreement and the rights of Parent and Merger Subsidiary under the Existing Credit Agreement. 
 ARTICLE 7

 COVENANTS OF PARENT AND THE COMPANY;
MUTUAL COVENANTS 
 Section 7.01.    Commercially Reasonable Efforts; Further
Assurances. Subject to the terms and conditions of this Agreement, Parent, Merger Subsidiary and the Company shall use their commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things
necessary or desirable under Applicable Law to consummate the transactions contemplated by this Agreement. Parent and the Company agree to execute and deliver such other documents, certificates, agreements and other writings and to take such other
actions as may be reasonably necessary or desirable in order to consummate or implement expeditiously the transactions contemplated by this Agreement. 

Section 7.02.    Certain Filings. Subject to Section 7.06, Parent and the Company
shall cooperate with one another in determining whether any action by or in respect of, or filing with, any Governmental Authority is required, and, in taking such actions or making any such filings, furnishing information required in connection
therewith and seeking to obtain timely any such actions, consents, approvals or waivers in connection with such filings. 

Section 7.03.    Public Announcements. Parent and Merger Subsidiary, on the one hand, and the Company (and, if
after the Effective Time, Representative), on the other hand, shall not issue any press release or make any public statement with respect to this Agreement or the transactions contemplated hereby without the prior written consent of the other,
except to the extent required by Applicable Law or any listing agreement or authority with any national securities exchange (in which case the parties shall, to the extent permitted by such Applicable Law or such listing agreement or authority,
consult with each other in advance as to the contents and timing thereof); provided, however, that notwithstanding anything to the contrary in this Section 7.03 or otherwise, the filing with the U.S.
Securities and Exchange Commission and issuance, as applicable, by Actua or Parent or its Affiliates of (a) one or more Forms 8-K and press releases disclosing the terms of this Agreement and the
transactions contemplated hereby 

  
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and any other filings required by the federal securities laws, in each case, substantially in a form provided in advance to Parent or Actua, as applicable, and (b) the Financial Statements
(as defined in the Representative Side Letter) to the extent permitted under the Representative Side Letter shall, in each case, be expressly permitted by this Section 7.03. 

Section 7.04.    Notices and Consents. Parent and the Company shall use their respective commercially
reasonable efforts to obtain or provide, as applicable, at the earliest practicable date, all third-party consents, notices and approvals required in connection with the consummation of the transactions contemplated by this Agreement, including
those required by Section 9.01(c). Each of the parties shall bear their respective costs and expenses incurred in connection with obtaining any such consents. The provisions of this Section 7.04
shall not apply to consents, notices and approvals related to the HSR Act or any other Applicable Law involving antitrust or competition matters, all of which are governed by the provisions of Section 7.06. 

Section 7.05.    Termination of Related Party Agreements; Intercompany Accounts; Intercompany
Contracts.  
 (a)    Prior to the Closing, the Company shall take (or cause one or more of its Affiliates to
take) such actions required to cause any agreements, commitments, obligations, accounts, arrangements or understandings between the Company and/or any Subsidiary and any Related Party set forth in Schedule 7.05(a) attached
hereto, to be terminated and all Liabilities thereunder to be cancelled, paid or settled without payment or further Liability on the part of the Company or any Subsidiary, in each case, effective immediately prior to Closing. 

(b)    Prior to the Closing, the Company shall take (or cause one or more of its Affiliates to take) such actions
required to settle, effective as of, or prior to, the Closing Date all intercompany accounts (including all intercompany Indebtedness) so that there are no intercompany obligations, interest, fees, payables or receivables between the Company or any
Subsidiary, on the one hand, and Actua or any Affiliate of Actua, on the other hand. 

Section 7.06.    Antitrust Notification. 

(a)    Each party hereto shall, in cooperation with the other parties, (i) use its reasonable best efforts to file or
cause to be filed as soon as practicable, but in no event later than the tenth (10th) Business Day following the date hereof, any reports or notifications that may be required to be filed by such
party under the HSR Act (with the Federal Trade Commission and the Antitrust Division of the Department of Justice with respect to the transactions contemplated by this Agreement) and (ii) furnish to the other parties all such information in
its possession as may be necessary for the completion of the reports or notifications to be filed by such other parties as described in the preceding clause (i). The parties shall use their respective reasonable best efforts to take, or cause
to be taken, all actions necessary to cause the expiration or termination of the applicable waiting periods under the HSR Act as soon as practicable, including requesting early termination of the waiting period under the HSR Act, not extend any
waiting period under the HSR Act or any other similar Applicable Law, and, subject to Article 11 as it relates to any party’s ability to terminate this Agreement following the End Date, respond to any inquiries received and supply, as
promptly as practicable, any additional information and documentary material that may be requested by any Governmental Authority 

  
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pursuant to the HSR Act. The parties acknowledge and agree that Parent’s and Merger Subsidiaries’ obligations to use their reasonable best efforts set forth in this
Section 7.06(a) shall include an obligation of Parent (A) to take and cause its Affiliates to take all actions reasonably necessary to avoid or eliminate any impediment under any Applicable Law so as to enable the
consummation of the transactions contemplated hereby, including the Merger, to occur as soon as reasonably practicable (and in any event no later than the End Date); provided, however, that in no event shall the Company, Parent or
Merger Subsidiary be required to: (1) propose, negotiate, commit to or effect, by consent decree, hold separate order or otherwise, the sale, divestiture or disposition of businesses, product lines or assets of, in the case of the Company, the
Company or its Subsidiaries or, in the case of Parent or Merger Subsidiary, Parent or its Affiliates (including the Surviving Corporation and its Subsidiaries), (2) terminate any existing relationships, contractual rights or obligations of, in
the case of the Company, the Company or its Subsidiaries or, in the case of Parent or Merger Subsidiary, Parent or its Affiliates (including the Surviving Corporation and its Subsidiaries) or (3) otherwise take or commit to take actions that
would limit the Company’s, Parent’s or their respective Affiliates’ (including, with respect to Parent, the Surviving Corporation’s and its Subsidiaries’), freedom of action with respect to, or its ability to retain, one or
more of the businesses, product lines or assets of, in the case of the Company, the Company or its Subsidiaries or, in the case of Parent or Merger Subsidiary, Parent or its Affiliates (including the Surviving Corporation and its Subsidiaries). 

(b)    Without limiting the generality of the provisions of Section 7.06, to the extent
permissible under Applicable Law, each party hereto shall, in connection with the efforts referenced in Section 7.06 to obtain all requisite approvals, clearances, terminations of waiting periods and other authorizations
for the transactions contemplated by this Agreement under the HSR Act, use its reasonable best efforts to, except as may be prohibited by any Governmental Authority or by any Applicable Law, (i) cooperate in all respects with each other party
hereto in connection with any filing or submission and in connection with any investigation or other inquiry, including any Proceeding initiated by a private party, (ii) promptly inform the other parties hereto of any communication received by
such party from, or given by such party to, the Antitrust Division of the Department of Justice or the Federal Trade Commission and of any material communication received or given in connection with any Proceeding by a private party, in each case
regarding any of the transactions contemplated hereby, (iii) permit each other party hereto, or such other party’s legal counsel, to review any communication given by it to, and consult with each other in advance of any meeting or
conference with, the Federal Trade Commission or the Antitrust Division of the Department of Justice or any such other Governmental Authority or, in connection with any Proceeding by a private party, with any other Person, (iv) except as may be
prohibited by any Governmental Authority or by any Applicable Law, in connection with any request or Proceeding with respect to the transactions contemplated by this Agreement, each party will permit authorized representatives of the other party to
be present at each meeting or conference relating to such request or Proceeding and to have access to and be consulted in connection with any document, opinion or proposal made or submitted to any Governmental Authority in connection with such
request or Proceeding, (v) in the event one party is prohibited by applicable Legal Requirements or by the applicable Governmental Authority from participating in or attending any meetings or conferences, keep the other parties hereto promptly
and reasonably apprised with respect thereto, and (vi) subject to Article 11 as it relates to any party’s ability to terminate this Agreement following the End Date, cooperate in the filing of any memoranda, white papers, filings,
correspondence, or other written 

  
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communications explaining or defending the transactions contemplated hereby, articulating any regulatory or competitive argument, and/or responding to requests or objections made by any
Governmental Authority. 
 (c)    Parent shall pay all filing fees applicable to the Notification and Report Form filed
pursuant to the HSR Act or any filings required by any Legal Requirements of any foreign Governmental Authority and all other costs and expenses incurred in connection with the performance of Section 7.06, except that each
party shall pay its other costs and expenses in connection with performing their respective obligations under the first sentence of Section 7.06. Subject to Article 11 as it relates to any party’s ability to
terminate this Agreement following the End Date, the parties shall use their commercially reasonable efforts to resolve such objections, if any, as may be asserted by any Governmental Authority with authority over antitrust and competition matters
relating to the transactions contemplated hereby. 
 Section 7.07.    Employee Matters. 

(a)    From and after the Closing Date, Parent will honor, and will cause the Surviving Corporation and its Subsidiaries
to honor, in accordance with their terms as in effect on the Closing Date, all existing employment, retention, incentive, change in control and severance agreements between the Company or any Subsidiary and any employees of the Surviving Corporation
or any Subsidiary of the Surviving Corporation immediately prior to the Effective Time that are listed on Schedule 7.07(a). Parent shall cause the Surviving Corporation and its Subsidiaries, as applicable, to make the 2017 plan year employer
matching contributions to the Company’s 401(k) Profit Sharing Plan; provided, however, that such employer matching contributions shall relate only to contributions in respect of services performed prior to the plan’s
termination, and shall be calculated in accordance with the terms of the plan, past practice, and Applicable Law. 

(b)    Parent is not planning or contemplating, and has not made or taken, any decisions or actions concerning any
employees of the Company or any Subsidiary that would require, prior to the Effective Time, the service of notice under the Worker Adjustment and Retraining Notification Act or any other similar Applicable Law (the “WARN Act”).
Parent shall not, and shall cause the Surviving Corporation to not, at any time within ninety (90) days after the Closing Date engage in any conduct which, alone or if aggregated with any such conduct on the part of the Company or any
Subsidiary prior to the Closing Date, would trigger or result in notice, severance or other rights or obligations under the WARN Act. 

Section 7.08.    Consent of Investment Advisory Clients. 

(a)    As promptly as practicable following the date hereof, the Company shall, or shall cause the appropriate Subsidiary
to, send a notice substantially in the form of Exhibit F to each Investment Advisory Client or an agent of such Investment Advisory Client (“Consent Notice”) informing such Investment Advisory Client of the transactions
contemplated by this Agreement and requesting such Investment Advisory Client’s consent in writing to the deemed assignment of its Investment Advisory Contracts and shall use its commercially reasonable efforts to obtain such consent. 

(b)    If an Investment Advisory Contract for any client listed on Exhibit D by its terms requires written consent
for the deemed assignment thereof (such Investment Advisory Contracts with clients set forth on Schedule 7.08(b), “Affirmative Consent Contracts”), such consent shall be deemed given only upon receipt of written consent from
the applicable Investment Advisory Client or its agent as contemplated by the Consent Notice. 

  
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 (c)    The deemed assignment of each Investment Advisory Contract for any
client listed on Exhibit D that is not an Affirmative Consent Contract (such Investment Advisory Contracts with clients set forth on Schedule 7.08(c), “Negative Consent Contracts”) shall be deemed consented to upon
either (i) receipt of written consent from the applicable Investment Advisory Client or its agent or (ii) the negative consent procedures set forth in such Negative Consent Contract being followed or, in the absence of any specified
negative consent procedures in such Negative Consent Contract, the passage of 60 days from sending the Consent Notice without receipt by the Company of a notice from the applicable client validly objecting to the deemed assignment. 

(d)     With respect to the Contracts set forth on Schedule 7.08(d), the transactions contemplated hereby shall be
deemed consented to upon receipt of written consent from the applicable client or, to the extent applicable, the expiration or waiver of any termination, acceleration or similar right resulting from the transactions contemplated by this Agreement.

 (e)    In connection with seeking the consent required for any Affirmative Consent Contract or any Contract set
forth on Schedule 7.08(d), the Company shall use commercially reasonable efforts to obtain the Consent. The Parent shall cause the Surviving Corporation and its Subsidiaries (i) to continue to use such commercially reasonable efforts
following the Closing until (A) the date that is thirty (30) days after the Closing Date or (B) with respect to any Contracts set forth on Schedule 1.01(a), the date indicated as the “Cut Off Date” in the table
therein (including, in each case, by providing any notices contemplated by the relevant Contract) and (ii) to deliver written notice to the Representative promptly (and in any event within three (3) Business Days) following the receipt of
any Consent following the Closing (including a deemed consent pursuant to Section 7.08(d)). From the date of this Agreement until the date that is thirty (30) days after the Closing Date (or, with respect to any
Contracts set forth on Schedule 1.01(a), the date indicated as the “Cut Off Date” in the table therein), Parent and its Affiliates (which shall include the Surviving Corporation and its Subsidiaries following the Closing) shall use
commercially reasonable efforts to assist in obtaining the Consents and shall not take any action that could reasonably be expected to delay, prevent, impede or interfere with, or could otherwise reasonably be expected to be detrimental to,
obtaining any Consent; provided that neither Parent nor its Affiliates (which shall include the Surviving Corporation and its Subsidiaries following the Closing) shall be required to amend or otherwise agree to any revisions to any
pricing provisions in any of the relevant Contracts. 
 Section 7.09. R&W Policy. 

(a) From and after the date of this Agreement, Parent shall use reasonable best efforts to obtain and cause to be bound as promptly as
practicable a R&W Policy from AIG (i) with a limitation of liability no less than $30,000,000, (ii) with a Retention Amount no greater than $1,950,000 and (iii) that excludes any and all rights of subrogation against the Stockholders and the
Representative under this Agreement except with respect to fraud ((i) through (iii), the “Policy Conditions” and, such R&W Policy from AIG, the “AIG Policy”). Prior to binding any R&W Policy, Parent shall
provide the Company with a copy of such policy and use reasonable best efforts to make any changes reasonably requested by the Company. 

(b) In the event the AIG Policy is not bound by October 4, 2017, Parent shall promptly inform the Company and, upon the Company’s
reasonable request, use reasonable best efforts to obtain an alternative R&W Policy from an insurer acceptable to the Company (acting reasonably and in good faith) with terms and conditions no less favorable to the Stockholders than the Policy
Conditions (unless the Company otherwise waives such requirement with respect to the Policy Conditions) (such a R&W Policy, an “Alternative Policy”). The Company shall have the right to review and approve (acting reasonably and
in good faith) any Alternative Policy prior to binding and, to the extent the Company deems the Policy Conditions of an Alternative Policy insufficient, Parent shall continue to use reasonable best efforts to obtain an Alternative Policy from an
insurer acceptable to the Company (acting reasonably and in good faith). To the extent the premium necessary to obtain an Alternative Policy exceeds $930,000, such excess shall be considered an Unpaid Transaction Expense for purposes of this
Agreement. For all purposes of this Section 7.09(b), the Company acknowledges and agrees that all insurers set forth in that certain “Quote Summary for Buyer-Side Representations and Warranties Insurance,” dated August 29, 2017 are
acceptable to the Company. 
 (c) Parent shall keep the Company reasonably informed of the status of Parent’s efforts to obtain and
cause to be bound the AIG Policy and any Alternative Policy, and the Company shall reasonably cooperate with Parent in obtaining the AIG Policy and any Alternative Policy, including promptly responding to all reasonable due diligence requests of the
applicable insurer. 
 (d) To the extent any Parent Indemnified Party is unable to recover Damages under the R&W Policy that it would
have reasonably been expected to recover from AIG under the representation and warranty insurance policy contemplated by the AIG NBIL had it been bound as of the date hereof without any exclusions other than the Express Exclusions (such Damages, the
“Section 7.09 Damages”), the Stockholders will indemnify such Parent Indemnified Party for any and all such Section 7.09 Damages subject to the limitations set forth in Article 10. The Company and Representative hereby
acknowledge and agree that Parent Indemnified Parties are entitled to recover as Section 7.09 Damages in respect of any Company Warranty Breach that first occurs after the date of this Agreement and has to be disclosed on the No Claims Declaration
(as referred to in the AIG NBIL) delivered upon the initial binding of the R&W Policy for purposes of this Section 7.09(d) and all purposes of Article 10. For the avoidance of doubt, the Express Exclusions (and the fact that they
are not included in the definition of Section 7.09 Damages) do not otherwise impact the covenants and obligations of the parties set forth in this Agreement, including Section 2.09. 

(e) Once bound, Parent will not amend or waive, or permit the amendment or waiver of, the subrogation or third-party beneficiary provisions
contained in the R&W Policy benefitting the Stockholders or the Representative or otherwise amend or modify the R&W Policy in a manner adverse to the Stockholders or the Representative without the prior written consent of the Representative.
Subject to the penultimate sentence of Section 7.09(b), Parent agrees to pay the total premium for the R&W Policy in accordance with the terms of the R&W Policy. For the avoidance of doubt, Parent acknowledges and agrees that the
effectiveness of the R&W Policy is not a condition to the Closing. 

  
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 Section 7.10.    Required Stockholder Approval. Promptly
(and in any event within twenty-four (24) hours after the execution and delivery of this Agreement by the parties hereto), the Company and the Representative shall deliver to Parent a copy of the Written Consent duly executed by the
Representative or the applicable Stockholder Affiliate of the Representative and certified as true by an officer of the Company. 

Section 7.11.    606 Deliverables.  

(a)    Set forth on Schedule 7.11 hereto is a list of items that the Company and Parent have acknowledged and
agreed shall be produced on behalf of the Company by the Accounting Representative and delivered to Parent between the date hereof and the Closing in connection with the Surviving Corporation’s adoption of Financial Accounting Standards Board
Accounting Standards Update 2016-08 (Topic 606) (such items, collectively, the “606 Deliverables”). Representative and the Company shall cause the Accounting Representative to deliver, or
cause to be delivered, to Parent in writing (including via e-mail) each 606 Deliverable as promptly as reasonably practicable, but no later than three (3) Business Days following the date that corresponds
to the applicable 1st draft 606 Deliverable deadline on Schedule 7.11. Parent shall then deliver, or cause to be delivered, to the Accounting Representative in writing (including via e-mail) any and all reasonable, good faith comments with respect to such 606 Deliverable as promptly as practicable, but no later than three (3) Business Days following the date that corresponds to the
applicable 1st draft 606 Deliverable comment period on Schedule 7.11; provided, that if Representative does not deliver a 606 Deliverable prior to or on the date that corresponds to
the applicable 1st draft 606 Deliverable deadline on Schedule 7.11, such comment period shall be extended by one (1) Business Day for each Business Day from such deadline until such
606 Deliverable is delivered. If Parent delivers comments to any 606 Deliverable pursuant to the preceding sentence, Representative and the Company shall then cause the Accounting Representative to deliver, or cause to be delivered, to Parent in
writing (including via e-mail) a revised 606 Deliverable incorporating in good faith any reasonable comments delivered by Parent pursuant to the preceding sentence as promptly as reasonably practicable, but no
later than three (3) Business Days following the date that corresponds to the applicable 2nd draft 606 Deliverable deadline on Schedule 7.11. Parent shall then deliver, or cause to be
delivered, to the Accounting Representative in writing (including via e-mail) any and all further reasonable, good faith comments with respect to such revised 606 Deliverable as promptly as practicable, but no
later than three (3) Business Days following the date that corresponds to the applicable 2nd draft 606 Deliverable comment period on Schedule 7.11; provided, that if
Representative does not deliver a 606 Deliverable prior to or on the date that corresponds to the applicable 2nd draft 606 Deliverable deadline on Schedule 7.11, such comment period shall
be extended by one (1) Business Day for each Business Day from such deadline until such 606 Deliverable is delivered. If Parent delivers comments to any revised 606 Deliverable pursuant to the preceding sentence, Representative and the Company
shall then cause the Accounting Representative to deliver, or cause to be delivered, to Parent in writing (including via e-mail) a further revised 606 Deliverable incorporating in good faith any reasonable
comments delivered by Parent pursuant to the preceding sentence as promptly as reasonably practicable, but no later than three (3) Business Days following the date that corresponds to the applicable
3rd draft 606 Deliverable deadline on Schedule 7.11. Parent shall then deliver, or cause to be delivered, to the Accounting Representative in writing (including via e-mail) any and all further reasonable, good faith comments with respect to such revised 606 

  
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Deliverable as promptly as practicable, but no later than three (3) Business Days following the date that corresponds to the applicable
3rd draft 606 Deliverable comment period on Schedule 7.11; provided, that if Representative does not deliver a 606 Deliverable prior to or on the date that corresponds to the
applicable 3rd draft 606 Deliverable deadline on Schedule 7.11, such comment period shall be extended by one (1) Business Day for each Business Day from such deadline until such 606
Deliverable is delivered. Parent shall, and Representative and the Company shall cause the Accounting Representative to, work in good faith with Parent’s and the Company’s respective independent auditors (i.e., KPMG LLP) and use their
respective reasonable best efforts to resolve any and all of Parent’s comments in a timely manner such that the relevant 606 Deliverable may be substantially completed on the applicable timetable set forth on Schedule 7.11 (taking into
account any extensions provided for in this Section 7.11(a)) and agreed upon (including for purposes of Section 9.02(j)). 

(b)    Each of Parent and the Company (through the Accounting Representative) shall work in good faith and use their
respective reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary or desirable to cause each of the 606 Deliverables to be substantially completed on the applicable timetable set forth
on Schedule 7.11 (taking into account any extensions provided for in Section 7.11(a)) and agreed upon (including for purposes of Section 9.02(j)). Parent and the Company (through the
Accounting Representative) agree to incur such reasonable expenses and to execute and deliver such other documents, certificates, agreements and other writings and to take such other actions, in each case, as may be reasonably necessary or desirable
in order to cause each of the 606 Deliverables to be substantially completed on the applicable timetable set forth on Schedule 7.11 (taking into account any extensions provided for in Section 7.11(a)) and agreed upon
(including for purposes of Section 9.02(j)). 
 (c)    Representative and the Company shall
use reasonable best efforts to cause the Representative’s independent auditor to present the 606 Deliverables to Representative’s audit committee on or before December 8, 2017 or on such other date as Representative and Parent shall
mutually agree in writing (including via e-mail), it being understood that no formal or informal opinion of the independent auditors as to the Company’s ultimate compliance with Topic 606 shall be
required in connection with such presentation. 
 (d)    Each of Parent, on the one hand, and Representative and the
Company, on the other hand, shall use reasonable best efforts cause Parent’s and Representative’s respective independent auditors to jointly present the 606 Deliverables to Parent’s audit committee on or before December 8, 2017
or on such other date as Representative and Parent shall mutually agree in writing (including via e-mail), it being understood that no formal or informal opinion of the independent auditors as to the
Company’s ultimate compliance with Topic 606 shall be required in connection with such presentation. 
 (e)    If
at any time after December 8, 2017 the Company reasonably believes that each of the 606 Deliverables is final, but for Parent’s agreement in accordance with this Section 7.11, the condition set forth in Section 9.02(j) is
satisfied, it may deliver to Parent a written notice to that effect (the “Company 606 Notice”). Parent shall have five (5) Business Days after the delivery of such notice by the Company to deliver a written notice to the
Company asserting that one or more of the 606 Deliverables are not final and, but for Parent’s agreement in accordance with this Section 7.11, the condition set forth in Section 9.02(j) is satisfied, and stating in reasonable
detail the basis for such position, which may include (without limitation) reasonable comments 

  
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made in good faith that the Company has received from Parent’s or Representative’s respective independent auditors, Parent’s or Representative’s respective audit committees or
their members, or that arise from newly issued interpretive guidance with respect to Financial Accounting Standards Board Accounting Standards Update 2016-08 (Topic 606) (such notice from Parent, a
“606 Dispute Notice”). If Parent does not timely deliver a 606 Dispute Notice, then the condition set forth in Section 9.02(j) shall be deemed automatically satisfied. If Parent does timely deliver a 606
Dispute Notice, the Company and Parent shall each use reasonable best efforts and work in good faith for a period of no less than five (5) Business Days to discuss the 606 Dispute Notice and address the steps or information necessary to
finalize the 606 Deliverables and satisfy the condition set forth in Section 9.02(j) (a “Resolution Period”). After each such Resolution Period, the Company may deliver a new Company 606 Notice, in which case the preceding three
sentences shall apply to such Company 606 Notice in all respects. 
 ARTICLE 8 

TAX MATTERS 

Section 8.01.    Tax Covenants. 

(a)    If the Company or any of its Subsidiaries is permitted but not required under Applicable Law to treat the Closing
Date as the last day of a taxable period, then the parties shall treat that day as the last day of the taxable period. The portion of any Taxes for a Straddle Period that are allocable to the portion of such Straddle Period ending on the Closing
Date shall be determined using the interim closing of the books method (in the case of any Tax based on or measured by income, receipts, sales, use, payroll or employment, or similar event-based Taxes) and the “calendar day” convention (in
the case of other Taxes, such as property taxes). 
 (b)    All Transfer Taxes incurred in connection with the Merger
shall be borne one-half by the Stockholders and one-half by the Parent. Parent shall, at its own expense, file all necessary Tax Returns with respect to all such Taxes
in a timely manner, and, if required by Applicable Law, the Representative will, and will cause its Affiliates (including the Surviving Corporation) to, join in the execution of any such Tax Returns. 

(c)    The Representative shall prepare and file, or cause to be prepared and filed, all U.S. federal and state Tax
Returns for the Company and its Subsidiaries for all Pre-Closing Tax Periods where the Company and its Subsidiaries are included in the consolidated, unitary or combined group of which the Representative is
the common parent. The Representative shall permit Parent to review and comment on any separate draft pro forma Tax Return form that will be used to prepare the consolidated Tax Return for any
Pre-Closing Tax Period prior to filing and shall consider in good faith any reasonable comments to such Tax Return provided by Parent, in writing, within ten (10) days of Parent’s receipt of the Tax
Return. Parent shall prepare and file or cause to be prepared and filed all other Tax Returns for the Company and its Subsidiaries and all Tax Returns for the Surviving Corporation and its Subsidiaries that are filed after the Closing Date. Parent
shall permit the Representative to review and comment on any Pre-Closing Tax Returns and Straddle Period Tax Returns prior to 

  
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filing and shall consider in good faith any reasonable comments to the Tax Returns as are provided by the Representative in writing within ten (10) days of the Representative’s receipt
of the Tax Returns. The Representative shall pay the Parent for the amount of Tax on any such Pre-Closing Tax Return and Straddle Period Tax Return allocated to the
Pre-Closing Tax Period hereunder at least five (5) days prior to the filing of such Tax Return. 

(d)    After the Closing, Parent shall not, and shall cause its Affiliates, the Company and its Subsidiaries to not,
amend, file, re-file, make, revoke or otherwise modify any Tax Return or Tax election of the Company or any of its Subsidiaries that is reasonably likely to have an adverse effect for any Pre-Closing Tax Period, unless required by Applicable Law. 
 (e)    The
Representative shall control any Tax Contest that involves, in whole or in part, any Taxes of, or a Tax Return of, a consolidated, unitary or combined group that includes the Company or its Subsidiaries and the Representative of which the
Representative is the common parent, and Parent shall control any other Tax Contest. In the case of any Tax Contest with respect to a Pre-Closing Tax Period or Straddle Period, the Parent shall
(i) promptly notify the Representative of such Tax Contest and forward copies of appropriate notices and forms or other communications received from, or sent to, any Governmental Entity which relate to the Tax Contest to the Representative,
(ii) keep the Representative reasonably informed of all material developments in such Tax Contest, and (iii) not settle, compromise or otherwise dispose of such Tax Contest without the prior written consent of the Representative (which
consent shall not be unreasonably withheld, conditioned or delayed); provided that any failure to comply with subsections (i) and (ii) of this sentence will not relieve the Representative or the Stockholders of any liability with respect
to such Tax Contest except to the extent the Representative or Stockholders were actually prejudiced as a result thereof. Notwithstanding anything in this Section 8.01(e) to the contrary, the Representative shall have no
rights with respect to any Tax Contest which involves in whole or in part any Taxes of, or a Tax Return of, the consolidated, unitary or combined group including Parent (or any member thereof other than the Surviving Corporation), and Parent shall
have no rights with respect to any Tax Contest which involves in whole or in part any Taxes of, or a Tax Return of, the consolidated, unitary or combined group including Representative. 

(f)    Any Tax refunds or Tax credits that are received by or credited to Parent, its Affiliates, or the Company or any
of its Subsidiaries with respect to any Pre-Closing Tax Period shall be for the account of the Stockholders, and Parent shall pay or cause to be paid over to the Representative (for the account of the
Stockholders) any such refund or credit (and any interest with respect thereto) within thirty (30) Business Days after the receipt or credit thereof. Tax deductions arising in connection with payment of Unpaid Transaction Expenses, Closing
Indebtedness and other compensatory payments to be made pursuant to this Agreement shall be considered to arise in the Pre-Closing Tax Period for applicable income Tax purposes. 

(g)    Except to the extent required by Applicable Law, Parent and its Affiliates (including the Company and its
Subsidiaries) shall not make or cause to be made or permit to be made any extraordinary transaction or event on the Closing Date after the Closing that would result in any increased Liability with respect to Taxes for which indemnification pursuant
to this Agreement would be required or for which the Stockholders would otherwise be responsible without the consent of the Representative (such consent not to be unreasonably withheld, conditioned or delayed). 

  
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 (h)    All Tax sharing agreements, Tax indemnification agreements, or
similar agreements with respect to or involving the Company or its Subsidiaries and any other Person shall be terminated as of the Closing Date and, after the Closing Date, neither the Surviving Corporation nor its Subsidiaries shall be bound
thereby or have any liability thereunder. 
 (i)    The last day on which the Company and its Subsidiaries shall be
included in the consolidated group (as described in Treasury Regulation section 1.1502-1(h)) that includes Actua shall be December 31, 2017, unless Parent provides written consent to the Representative
otherwise, such consent not to be unreasonably withheld. 
 (j)    Parent and its Affiliates shall promptly provide
Representative with a copy of the final Tax Analysis upon completion thereof. 
 Section 8.02.    Cooperation On
Tax Matters. 
 (a)    Parent and the Representative shall, and shall cause their Affiliates to, cooperate
fully, as and to the extent reasonably requested by the other party, in connection with the preparation and filing of any Tax Return, and any audit, litigation or other proceeding with respect to Taxes. Such cooperation shall include the retention
and (upon the other party’s request) the provision of records and information that are reasonably relevant to any such Tax Return, audit, litigation or other proceeding and making employees available on a mutually convenient basis to provide
additional information and explanation of any material provided hereunder; provided, however that Parent shall not be required to provide the Representative with the portion of any records, Tax Returns or any other information, in each
case which includes any information relating to any member (other than the Surviving Corporation or the Surviving Corporation’s Subsidiaries) of a consolidated, unitary or combined group including the Parent. 

(b)    Parent and Representative further agree, and agree to cause their Affiliates, upon request, to use all reasonable
efforts to obtain any certificate or other document from any Governmental Authority or customer of the Company or any of its Subsidiaries or any other Person as may be necessary to mitigate, reduce or eliminate any Tax that could be imposed
(including with respect to the transactions contemplated hereby). 
 Section 8.03.    Net Operating Losses.

 (a)    No later than two (2) Business Days prior to the Closing, Actua shall deliver to Parent a statement (the
“NOL Statement”) setting forth a good faith estimate of the NOL Amount (the “Closing NOL Amount”) together with reasonable supporting documentation. If the Closing NOL Amount is less than $36 million, Actua
Holdings shall be obligated to pay Parent $.3105 for each dollar the Closing NOL Amount is less than $36 million (the amount of such product, if any, the “Closing NOL Adjustment Amount”) and, in satisfaction of such payment
obligation, the Representative and Parent shall instruct the Payment Agent to reduce the amount otherwise payable to Actua Holdings pursuant to Section 2.06(b) by the Closing NOL Adjustment Amount. If the Closing NOL Amount
is equal to or greater than $36 million, the Closing NOL Adjustment Amount shall be zero. 

  
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 (b)    No later than April 2, 2018, Actua shall prepare and deliver to
Parent a second NOL Statement with an updated good faith estimate of the NOL Amount (the “Interim NOL Amount”) and a second Closing NOL Adjustment Amount based thereon (such revised amount, the “Interim NOL Adjustment
Amount”) together with reasonable supporting documentation. To the extent the Interim NOL Adjustment Amount is greater than the Closing NOL Adjustment Amount, Actua shall pay (or cause to be paid) to Parent an amount equal to such
difference by wire transfer of immediately available funds no later than five (5) Business Days following the date such second NOL Statement is received by Parent. To the extent the Interim NOL Adjustment Amount is less than the Closing
NOL Adjustment Amount, Parent shall pay (or cause to be paid) to Actua Holdings (or its designee) an amount equal to such difference by wire transfer of immediately available funds no later than five (5) Business Days following the date such
second NOL Statement is received by Parent. 
 (c)    No later than October 31, 2018, Actua shall deliver to
Parent a third NOL Statement with an updated good faith estimate of the NOL Amount (the “Adjusted NOL Amount”) and a third Closing NOL Adjustment Amount based thereon (such revised amount, the “Post-Closing NOL Adjustment
Amount”) together with reasonable supporting documentation. Parent shall notify Actua in writing within fifteen (15) Business Days if Parent objects to one or more items reflected in the third NOL Statement. For the avoidance of doubt,
the presence of any data or information in the initial NOL Statement delivered under Section 8.03(a) or the second NOL Statement delivered under Section 8.03(b) is irrelevant to Parent’s right to object to any items in
the third NOL Statement, and Parent’s objection right is not limited to items related to an update or revision. The parties shall negotiate in good faith to resolve such dispute. If Actua and Parent are unable to resolve any such dispute within
twenty (20) Business Days following Actua’s receipt of Parent’s written objection, such dispute shall be resolved by the Settlement Accountants. The Settlement Accountants’ NOL Statement (with the Adjusted NOL Amount) and
Post-Closing NOL Adjustment Amount shall be deemed final and shall not be subject to further review, absent fraud or willful neglect. The fees and expenses of the Settlement Accountants for this task shall be borne equally by Actua, on the one hand,
and Parent, on the other hand. If Parent does not notify Actua within fifteen (15) Business Days of Parent’s receipt of the revised NOL Statement, the revised NOL Statement delivered to Parent shall be deemed final and shall not be
subject to further review, absent fraud or willful neglect. To the extent the Post-Closing NOL Adjustment Amount is greater than the Interim NOL Adjustment Amount, Actua shall pay (or cause to be paid) to Parent an amount equal to such difference by
wire transfer of immediately available funds no later than five (5) Business Days following the date such third NOL Statement is deemed final. To the extent the Post-Closing NOL Adjustment Amount is less than the Interim NOL Adjustment Amount,
Parent shall pay (or cause to be paid) to Actua Holdings (or its designee) an amount equal to such difference by wire transfer of immediately available funds no later than five (5) Business Days following the date such third NOL Statement is
deemed final. 
 (d)    Notwithstanding anything herein to the contrary, (i) neither the Closing NOL Adjustment
Amount, the Interim NOL Adjustment Amount nor the Post-Closing NOL Adjustment Amount shall exceed $11,290,174 and (ii) any amounts owed to Parent in respect of the Post-Closing NOL Adjustment Amount shall be reduced by any amounts owed by
Parent under Section 8.01(f).
 (e)    Payments under this
Section 8.03 shall be treated by the parties as an adjustment to Purchase Price for income tax purposes. 

  
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 Section 8.04.     Aggregate Merger Consideration Adjustment And
Interest. Any amount paid under Article 10 of this Agreement shall be treated as an adjustment to the Aggregate Merger Consideration, to the extent permitted by Applicable Law. 

ARTICLE 9 

CONDITIONS TO CLOSING 

Section 9.01.    Conditions to Obligations of the Parties. The obligations of Parent, Merger Subsidiary and
the Company to consummate the Merger and the other transactions contemplated by this Agreement are subject to the satisfaction of the following conditions: 

(a)    The applicable waiting period under the HSR Act shall have expired or been terminated. 

(b)    No provision of any Applicable Law and no judgment, injunction, order or decree shall prevent, prohibit, enjoin or
make illegal the consummation of the Merger. 
 (c)    The Client Closing Consent Amount set forth in the Client
Closing Consent Statement shall be equal to or greater than 85. 
 Section 9.02.    Conditions to Obligation of
Parent and Merger Subsidiary. The obligations of each of Parent and Merger Subsidiary to consummate the Merger and the other transactions contemplated by this Agreement is subject to the satisfaction (or waiver in writing by Parent and Merger
Subsidiary at or prior to the Closing Date) of the following further conditions: 
 (a)    Each of the Company and the
Representative shall have performed or complied with in all material respects (i) the covenants, obligations and agreements required to be performed or complied with by it in Section 7.11 on or prior to the Closing
Date and (ii) all other covenants, obligations and agreements hereunder required to be performed or complied with by it on or prior to the Closing Date. 

(b)    (i) Each of the Fundamental Representations contained in Article 3 of this Agreement shall be true and
correct in all respects (except for de minimis inaccuracies) at and as of the Closing Date as if made at and as of such time (other than such representations and warranties that by their terms address matters only as of another specified
time, which shall be true and correct in all respects at and as of such specified time); and (ii) each of the representations and warranties of the Company contained in Article 3 of this Agreement (other than the Fundamental
Representations) (A) that are qualified by materiality or Material Adverse Effect shall be true and correct at and as of the Closing Date as if made at and as of such date (other than such representations and warranties that by their terms
address matters only as of another specified time, which shall be true and correct at and as of such specified time) and (B) that are not qualified by materiality or Material Adverse Effect shall be true and correct in all material respects at
and as of the Closing Date as if made at and as of such time (other than such representations and warranties that by their terms address matters only as of another specified time, which shall be true and correct in all material respects at and as of
such specified time). 

  
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 (c)    Parent shall have received a certificate signed by an executive
officer of the Company certifying as to the Company’s satisfaction of the conditions set forth in Section 9.02(a) and Section 9.02(b). 

(d)    Each of the Representative and the Escrow Agent shall have executed and delivered the Escrow Agreement, and such
agreement shall be in full force and effect. 
 (e)    Each of the Representative and the Payment Agent shall have
executed and delivered the Payment Agent Agreement, and such agreement shall be in full force and effect. 
 (f)    The
Representative shall have executed and delivered a noncompetition and nonsolicitation agreement in substantially the form attached hereto as Exhibit J, and such agreement shall be in full force and effect. 

(g)    Since the date of this Agreement, there shall have been no Material Adverse Effect that remains uncured as of the
Closing. 
 (h)    The Company shall have delivered the deliverables set forth in Sections 2.05(a) through
(g) and Sections 2.05(j), (k) and (m) prior to the Closing. 
 (i)    The
Required Stockholder Approval shall have been obtained. 
 (j)    The Company and Parent shall have agreed upon the
final 606 Deliverables (provided that this condition shall be automatically deemed satisfied if both (i) Parent is in material breach of its obligations under Section 7.11(a) and (b) and (ii) the Company is
not in material breach of its obligations under Section 7.11(a) and (b)). 

Section 9.03.    Conditions to Obligation of the Company. The obligations of the Company to consummate the
Merger and the other transactions contemplated by this Agreement are subject to the satisfaction (or waiver in writing by the Company at or prior to the Closing Date) of the following further conditions: 

(a)    Each of Parent and Merger Subsidiary shall have performed or complied with in all material respects all covenants,
obligations and agreements hereunder required to be performed or complied with by it at or prior to the Closing Date. 

(b)    (i) Each of the Fundamental Representations contained in Article 4 of this Agreement shall be true and
correct in all respects (except for de minimis inaccuracies) at and as of the Closing Date as if made at and as of such time (other than such representations and warranties that by their terms address matters only as of another specified
time, which shall be true and correct in all respects at and as of such specified time); and (ii) each of the representations and warranties of Parent and Merger Subsidiary contained in Article 4 of this Agreement (other than the
Fundamental Representations) shall be true and correct at and as of the Closing Date as if made at and as of such date (other than such representations and warranties that by their terms address matters only as of another specified time, which shall
be true and correct at and as of such specified time), except as would not reasonably be expected to have a material adverse effect on Parent’s ability to consummate the transactions contemplated by this Agreement. 

  
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 (c)    The Company shall have received a certificate signed by an officer of
Parent certifying as to Parent’s satisfaction of the conditions set forth in Sections 9.03(a) and 9.03(b). 

(d)    Each of Parent and the Escrow Agent shall have executed and delivered the Escrow Agreement, and such agreement
shall be in full force and effect. 
 (e)    Each of Parent and the Payment Agent shall have executed and delivered the
Payment Agent Agreement, and such agreement shall be in full force and effect. 
 (f)    Parent shall have executed and
delivered the Representative Side Letter, and such agreement shall be in full force and effect. 

Section 9.04.    Frustration of Conditions to Closing. No party hereto may rely on the failure of any
condition set forth in Section 9.01, Section 9.02 or Section 9.03 to be satisfied, as the case may be, if such failure was caused by such party’s failure to comply
with any of its obligations set forth in Section 7.01. 
 ARTICLE 10 

SURVIVAL; INDEMNIFICATION 

Section 10.01.    Survival. The representations and warranties of the parties hereto contained in this
Agreement or in any certificate delivered pursuant hereto or in connection herewith shall survive the Closing until the second (2nd) anniversary of the Closing Date (the “Escrow
Termination Date”); provided that the foregoing shall not apply in the case of a breach of any of the representations and warranties set forth in the first three sentences of Section 3.01 (Corporate
Existence and Power), Section 3.02 (Corporate Authorization), Section 3.05 (Capitalization), the first three sentences and the last sentence of Section 3.06(a),
Section 3.06(b) and Section 3.06(c) (Subsidiaries), Section 3.19 (Finders’ Fees), Section 4.01 (Corporate Authorization) and
Section 4.02 (Corporate Authorization) (collectively, the “Fundamental Representations”), which shall survive the Closing until the fifth (5th)
anniversary of the Closing Date. The covenants and agreements of the parties hereto contained in this Agreement or in any certificate or other writing delivered pursuant hereto or in connection herewith shall survive the Closing indefinitely or for
the shorter period explicitly specified therein, except that (a) claims with respect to covenants set forth in Article 8 of this Agreement shall survive until thirty (30) days following the expiration of the applicable statute of
limitations, (b) claims made under Section 10.02(a)(iii) shall survive for two (2) years from the Closing, (c) claims made under Section 10.02(a)(v) shall survive for one
(1) year from the Closing, (d) claims with respect to covenants that require performance prior to the Closing (other than Section 5.03) shall survive until the Escrow Termination Date and
(e) Section 5.03 shall not survive the Closing and no party shall be entitled to recovery in respect thereof or to make any claim whatsoever for breach of such covenant. 

  
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 Section 10.02.    Indemnification. 

(a)    Subject to the limitations set forth in this Article 10, effective at and after the Effective Time, the
Stockholders shall, severally and not jointly in accordance with their respective Allocable Percentages, based on such Stockholder’s Allocable Percentage, indemnify Parent, its Affiliates and their respective officers, directors, employees,
agents, representatives, successors and assignees and, effective as of the Effective Time, without duplication, the Surviving Corporation, each Subsidiary and their respective officers, directors, employees, agents, representatives, successors and
assignees (collectively, the “Parent Indemnified Parties”) for any and all damages, losses, Liabilities, fines, claims, demands, judgments, awards, assessments, penalties, costs and expenses (including reasonable attorneys’
fees and out-of-pocket expenses in connection with any action, suit or proceeding whether involving a third party claim or a claim solely between the parties hereto) and
related interest and penalties (“Damages”), to the extent incurred or suffered by Parent or any other Parent Indemnified Party arising out of and without duplication: 

(i)    any misrepresentation or breach of any representation or warranty made by the Company contained in Article
3 of this Agreement (other than a misrepresentation or breach with respect to Sales Taxes) at and as of the date of this Agreement or at and as of the Closing Date with the same force and effect as if made at and as of the Closing Date (other
than such representations and warranties that by their terms address matters only as of another specified time, at and as of such specified time) (each such misrepresentation or breach of warranty, a “Company Warranty Breach”); 

(ii)    any breach of covenant, obligation or agreement made or to be performed by the Company pursuant to this
Agreement; 
 (iii)    any (A) Indebtedness of the Company or any Subsidiary outstanding as of the Closing and not
taken into account in calculating the Final Merger Consideration and (B) any Unpaid Transaction Expenses not taken into account in calculating in calculating the Final Merger Consideration; 

(iv)    any Stockholder Claims; 

(v)    (A) any Sales Taxes or (B) the reasonable third-party costs and expenses of the Tax Analysis; 

(vi)    any Indemnified Taxes; 

(vii)    the Section 7.09 Damages; or 

(viii)    the matter described on Schedule 10.2(a)(vii). 

(b)    Notwithstanding anything to the contrary in this Agreement, (i) the Parent Indemnified Parties shall not be
entitled to indemnification for Company Warranty Breaches other than breaches Fundamental Representations unless the aggregate amount of Damages with respect to Company Warranty Breaches exceeds the Threshold and then only to the 

  
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extent of such excess, (ii) the Stockholders’ maximum aggregate liability to the Parent Indemnified Parties’ for Company Warranty Breaches other than breaches of Fundamental
Representations shall not exceed (A), if a R&W Policy is bound at or prior to Closing, the Indemnification Escrow Amount or (B), if a R&W Policy is not bound at or prior to Closing, and solely with respect to the Covered Matters, the sum of
(1) the Indemnification Escrow Amount and (2) $30,000,000, (iii) the Stockholders’ maximum aggregate liability to the Parent Indemnified Parties for Sales Taxes shall not exceed the Sales Tax Cap, (iv) the Stockholders’ maximum
aggregate liability to the Parent Indemnified Parties pursuant to Section 10.02(a)(v)(B) shall not exceed $300,000, and (v) the Stockholders’ maximum aggregate liability for all indemnification claims pursuant to
this Article 10 shall not exceed the amount of Aggregate Merger Consideration actually received by such Stockholder. For the avoidance of doubt, any claims for Damages relating to Sales Taxes shall be made pursuant to
Section 10.02(a)(v) (and not Section 10.02(a)(i)) and the sole and exclusive remedy for recovery of such Damages shall be pursuant to Section 10.02(c)(ii). 

(c)    With respect to any Damages for which a Parent Indemnified Party is entitled to indemnification for: 

(i)    Company Warranty Breaches, if a R&W Policy is bound at or prior to Closing, such Damages shall be satisfied as
follows (subject to the other limitations contained in this Article 10): 
 (A)    first, by application of the
Threshold in accordance with Section 10.02(b)(i) until such Damages exceed the Threshold; 
 (B)    second,
from the Indemnification Escrow Fund to the extent of funds remaining in the Indemnification Escrow Fund; 

(C)    third, from the R&W Policy, to the extent a Parent Indemnified Party obtains such recoveries after exercising
commercially reasonable efforts to seek and procure such recoveries; and 
 (D)    fourth, from the Stockholders, on a
several and not joint basis in accordance with their respective Allocable Percentages, if recoverable hereunder after application of the limitations set forth herein, including if coverage under the R&W Policy is exhausted in full or if such
Losses are not covered by the R&W Policy after exercising commercially reasonable efforts to seek and procure recovery under the R&W Policy (for the avoidance of doubt, the Section 7.09 Damages shall be recovered pursuant to this clause
D). 
 (ii)    Sales Taxes, such Damages shall be satisfied as follows (subject to the other limitations
contained in this Article 10): 
 (A)    first, from the Stockholders, on a several and not joint basis in
accordance with their respective Allocable Percentages, until, if a R&W Policy is bound at or prior to Closing, the sum of all Damages (whether or not with respect to Sales Taxes) that could be collectible under the R&W Policy but for the
Retention Amount equal the Retention Amount; 
 (B)    second, if a R&W Policy is bound at or prior to Closing,
from the R&W Policy, to the extent a Parent Indemnified Party obtains such recoveries after exercising commercially reasonable efforts to seek and procure such recoveries; provided, that Parent shall not be required to submit a claim
under the R&W Policy if there has not been a related Company Warranty Breach and the underlying Damages are not otherwise covered by the R&W Policy; and 

(C)    third, from the Stockholders, on a several and not joint basis in accordance with their respective Allocable
Percentages (for the avoidance of doubt, the Section 7.09 Damages shall be recovered pursuant to this clause C). 

(iii)    Indemnified Taxes, such Damages shall be satisfied as follows (subject to the other limitations contained in
this Article 10): 
 (A)    first, from the Indemnification Escrow Fund until, if a R&W Policy is bound at
or prior to Closing, the sum of all Damages (whether or not with respect to Indemnified Taxes) that could be collectible under the R&W Policy but for the Retention Amount equal the Retention Amount; 

(B)    second, if a R&W Policy is bound at or prior to Closing, from the R&W Policy, to the extent a Parent
Indemnified Party obtains such recoveries after exercising commercially reasonable efforts to seek and procure such recoveries; provided, that Parent shall not be required to submit a claim under the R&W Policy if there has not been a
related Company Warranty Breach and the underlying Damages are not otherwise covered by the R&W Policy; 

(C)    third, from the Stockholders, on a several and not joint basis in accordance with their respective Allocable
Percentages (for the avoidance of doubt, the Section 7.09 Damages shall be recovered pursuant to this clause C). 

(iv)    Company Warranty Breaches, in the event a R&W Policy is not bound at or prior to Closing, such Damages shall
be Section 7.09 Damages and recovered as follows (subject to the other limitations contained in this Article 10): 

(A)    first, by application of the Threshold in accordance with Section 10.02(b)(i) until such Damages
exceed the Threshold; 
 (B)    second, from the Indemnification Escrow Fund to the extent of funds remaining in the
Indemnification Escrow Fund; and 
 (C)    third, from the Stockholders, on a several and not joint basis in accordance
with their respective Allocable Percentages. 

  
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 (d)    Subject to the limitations set forth in this Article 10,
effective at and after the Effective Time, Parent shall indemnify each of the Stockholders and their Affiliates and their respective officers, directors, employees, agents, representatives, successors and assignees (collectively, the
“Stockholder Indemnified Parties”) against and agrees to hold each of them harmless from any and all Damages incurred or suffered by such Stockholder Indemnified Party(ies) arising out of: 

(i)     any misrepresentation or breach of warranty made by Parent pursuant to this Agreement at and as of the date of
this Agreement or at and as of the Closing Date with the same force and effect as if made at and as of the Closing Date (other than such representations and warranties that by their terms address matters only as of another specified time, at and as
of such specified time) (each such misrepresentation and breach of warranty a “Parent Warranty Breach”); or 

(ii)    any breach of covenant, obligation or agreement made or to be performed by breach of covenant or agreement made
or to be performed by Parent pursuant to this Agreement. 
 (e)    No Indemnified Parties shall be entitled to
indemnification for any Damages to the extent the applicable Indemnified Parties failed to use good faith reasonable efforts to mitigate such Damages in accordance with Applicable Law (it being agreed that the reasonable costs of any such mitigation
shall be included as Damages); provided, however, that (i) such efforts to mitigate shall not include an obligation to litigate or initiate any action or pursue indemnification against a customer or supplier of the Surviving
Corporation or any action to collect any applicable Sales Taxes from any customer (former or then current) and (ii) with respect to Sales Taxes, no Indemnified Party shall initiate any action without the prior written consent of the
Indemnifying Party (which consent shall not be unreasonably withheld, conditioned or delayed). No Indemnified Party shall be required to take or omit to take any action to mitigate under this Section 10.02(e) if the taking
or omission of such action would be 

  
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detrimental in any material respect to such Indemnified Party’s relationships with its customers or would disrupt the ongoing business operations of the Indemnified Party in any material
respect; provided that this sentence shall not limit the obligation of the applicable Indemnified Parties to pursue recovery under available insurance policies (including, if applicable, the R&W Policy). 

(f)    For purposes of this Article 10, if a representation or warranty contained herein (other than the
representations set forth in Section 3.07(a)(y), the first sentence of Section 3.08 and Section 3.09) is qualified or limited based on materiality, including the terms
“material” or “Material Adverse Effect,” any such qualification or limitation shall be ignored and given no effect for purposes of determining whether a breach of the applicable representation or warranty has occurred and for
purposes of determining the amount of Damages incurred. For the avoidance of doubt, nothing in this Section 10.02(f) shall be deemed to amend any definition set forth in this Agreement, including the definition of
“Material Contracts.” 
 Section 10.03.    Procedures. 

(a)    The party seeking indemnification under this Article 10 (the “Indemnified Party”) agrees to
give prompt notice in writing to the party against whom indemnity is to be sought (the “Indemnifying Party”) of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (a
“Third-Party Claim”) in respect of which indemnity may be sought under such section. Such notice shall set forth in reasonable detail the facts and circumstances of such Third-Party Claim and the basis for indemnification in
respect thereof (taking into account the information then available to the Indemnified Party). The failure of the Indemnified Party to so notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder, except to
the extent such failure has prejudiced the Indemnifying Party. 
 (b)    The Indemnifying Party shall, subject to the
limitations set forth in this Section 10.03, have the right, upon written notice to the Indemnified Party, to assume the defense of any Third-Party Claim at the expense of the Indemnifying Party, with counsel selected by
the Indemnifying Party. If the Indemnifying Party does not so elect to assume the defense of such Third-Party Claim, the Indemnified Party shall have the sole right to assume the defense of such Third-Party Claim. If the Indemnifying Party assumes
the defense of such Third-Party Claim, the Indemnified Party shall have the right to employ separate counsel and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of the Indemnified Party and
shall not constitute indemnifiable Damages hereunder unless (i) the employment of such counsel has been specifically authorized in writing by the Indemnifying Party, or (ii) in the reasonable judgment of the Indemnified Party’s
counsel, the representation of both the Indemnifying Party and such Indemnified Party by the same counsel would present such counsel with a conflict of interest under applicable standards of professional conduct. 

(c)    If the Indemnifying Party assumes the control of the defense of any Third-Party Claim in accordance with the
provisions of this Section 10.03, the Indemnifying Party shall obtain the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, delayed or conditioned) before entering into any
settlement of such Third-Party Claim, if the settlement (A) does not release the Indemnified Party and its Affiliates 

  
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from all liabilities and obligations with respect to such Third-Party Claim, (B) imposes injunctive, equitable relief or any obligation on the Indemnified Party or any of its Affiliates
other than solely the payment of money damages for which the Indemnified Party will be fully indemnified hereunder, (C) involves a finding or admission of wrongdoing or violation of Applicable Law by the Indemnified Party, (D) encumbers
the assets of the Indemnified Party or imposes any restriction or condition that would apply to or adversely affect the Indemnified Party or (E) reasonably could be expected to have a material adverse effect on the Taxes of Parent, the
Surviving Corporation or their respective Affiliates for a taxable period or portion thereof beginning after the Closing Date. The Indemnified Party shall not settle any Third-Party Claim without the prior written consent of the Indemnifying Party
(which consent shall not be unreasonably withheld, delayed or conditioned). 
 (d)    Each party shall cooperate, and
cause its Affiliates to cooperate, in the defense or prosecution of any Third-Party Claim, and shall furnish or cause to be furnished such records, information and testimony, and attend such conferences, discovery proceedings, hearings, trials or
appeals, as may be reasonably requested in connection therewith. 
 (e)    In the event an Indemnified Party has a
claim for indemnity under this Article 10 against the Indemnifying Party that does not involve a Third-Party Claim (a “Direct Claim”), the Indemnified Party agrees to give prompt notice thereof in writing to the Indemnifying
Party. Such notice shall set forth in reasonable detail the facts and circumstances of such Direct Claim and the basis for indemnification in respect thereof (taking into account the information then available to the Indemnified Party). The failure
of the Indemnified Party to so notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent such failure shall have prejudiced the Indemnifying Party. 

(f)    To the extent anything in this Section 10.03 is inconsistent with
Section 8.01(e), the provisions of Section 8.01(e) shall govern with respect to any Tax Contest. 

Section 10.04.    Calculation of Damages. The amount of any Damages payable under Article
10 of this Agreement by the Indemnifying Party shall be (a) net of any amounts recovered by the Indemnified Party under applicable insurance policies (other than any amounts recovered under the R&W Policy) or from any other Person,
pursuant to indemnity, contribution or similar agreements with respect to such Damages, alleged to be responsible for such Damages, which recoveries the Indemnified Party agrees to use reasonable efforts to obtain (taking into account the effort
necessary to pursue such recovery and any adverse consequences resulting, or reasonably expected to result, from such pursuit to such Indemnified Party), (b) reduced by refund, current reduction or reduction within two (2) years following the
year the applicable Damages were paid in cash Taxes payable by the Indemnified Party as a result of such Damages, and (c) reduced to the extent that the amount of such Damages was reflected in the calculation of Closing Working Capital. If the
Indemnified Party receives any amounts under applicable insurance policies or from any other Person, pursuant to indemnity, contribution or similar agreements with respect to such Damages, alleged to be responsible for any Damages, as a refund or
current reduction in cash Taxes payable, or through the calculation of Closing Working Capital, in each case subsequent to an indemnification payment by the Indemnifying Party, then such Indemnified Party shall promptly reimburse the Indemnifying
Party for any payment made to such Indemnified Party by the Indemnifying Party in connection with providing such indemnification payment up to the amount received by such Indemnified Party, net of any expenses incurred by such Indemnified Party in
collecting such amount. 

  
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 Section 10.05.    Exclusivity. Except as specifically set
forth in, and subject to the terms and conditions of this Agreement (including Section 13.12), from and after the Effective Time, the rights of Parent Indemnified Parties and the Stockholder Indemnified Parties under
Article 8 and Article 10 of this Agreement shall be the sole and exclusive remedies for any matter arising under, out of or relating to this Agreement and the transactions contemplated by this Agreement. Notwithstanding anything to the
contrary in this Agreement (including this Section 10.05), the immediately preceding sentence shall not apply in the case of fraud and shall not affect in any way the rights of the parties under
Section 13.12. 
 ARTICLE 11 

TERMINATION 

Section 11.01.    Grounds for Termination. This Agreement may be terminated at any time prior to the Closing:

 (a)    by mutual written agreement of the Company and Parent; 

(b)    by either the Company or Parent, if the Closing has not been consummated on or before March 31, 2018 (the
“End Date”), provided that (i) if all of the conditions to Closing shall have been satisfied or shall be then capable of being satisfied (other than the condition set forth in Section 9.01(a)),
the End Date shall be extended by an additional six (6) month period and (ii) the right to terminate this Agreement pursuant to this clause shall not be available to any party whose failure to fulfill any obligation under this Agreement
has been the cause, or has resulted in, the failure of the Closing to occur prior to such date; 
 (c)    by either the
Company or Parent, if there is any Applicable Law that makes consummation of the transactions contemplated hereby illegal or otherwise prohibited or if consummation of the transactions contemplated hereby would violate any nonappealable final order,
decree or judgment of any Governmental Authority having competent jurisdiction; 
 (d)    by either the Company or
Parent, upon written notice to the other if any of the conditions set forth in Section 9.01 of this Agreement has become incapable of fulfillment on or prior to the End Date and such condition or conditions shall not have
been waived by such party, except that no party may terminate this Agreement if the inability to satisfy a condition is the result of a breach of this Agreement by such party seeking to terminate this Agreement; 

(e)    by Parent, if there has been a misrepresentation or breach of warranty or breach of covenant or other agreement
set forth in this Agreement by the Company that would cause the condition set forth in Section 9.02(a) or Section 9.02(b) of this Agreement not to be satisfied, such misrepresentation or
breach is not waived by Parent, and the Company is not capable of curing such misrepresentation or breach prior to the End Date; 

(f)    by the Company, if there has been a misrepresentation or breach of warranty or breach of covenant or other
agreement set forth in this Agreement by Parent that would cause the condition set forth in Section 9.03(a) or Section 9.03(b) of this Agreement not to be satisfied, such misrepresentation or
breach is not waived by the Company, and Parent is not capable of curing such misrepresentation or breach prior to the End Date; 

  
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 (g)    by Parent, if the Company shall not have delivered to Parent a
certified copy of the duly executed Written Consent within twenty (24) hours after execution and delivery of this Agreement by the parties hereto; and 

(h)    after January 2, 2018, by the Company, upon written notice to Parent if the conditions set forth in
Sections 9.01 and 9.02 of this Agreement other than Section 9.02(j) have all been satisfied (or waived) (other than conditions that by their nature are to be satisfied at the Closing, but subject to the
ability to immediately satisfy those conditions on the date of the notice delivered by the Company hereunder) and the Closing Date does not occur within two (2) Business Days of receipt by Parent of such termination notice. 

The party desiring to terminate this Agreement pursuant to Section 11.01(b), Section 11.01(c),
Section 11.01(d), Section 11.01(e), Section 11.01(f), Section 11.01(g) or Section 11.01(h) shall give written notice of
such termination to the other party and the party desiring to terminate this Agreement may not so terminate this Agreement if such party is then in material breach of any of its representations, warranties, covenants or agreements contained in this
Agreement. 
 Section 11.02.    Effect of Termination. If this Agreement is terminated as permitted by
Section 11.01 above, such termination shall be without liability of either party (or any stockholder, director, officer, employee, agent, consultant or representative of such party) to the other party to this Agreement;
provided, however, that if such termination shall result from the willful and material failure of either party to fulfill a condition to the performance of the obligations of the other party or perform a covenant of this Agreement,
such party shall be fully liable for any and all Damages incurred or suffered by the other party as a result of such willful and material failure or breach; provided, further, that if such termination is by the Company pursuant to
Section 11.01(h), Parent shall promptly (and in any event within five Business Days) pay to the Company the Termination Fee. The parties agree that the payment of the Termination Fee in such event does not constitute a
penalty and that the Company’s damages from such termination of this Agreement would be difficult to determine and the Termination Fee is a fair estimate of those damages. For the avoidance of doubt, (i) in the event the Company shall
receive the Termination Fee, the receipt thereof shall be deemed to be liquidated damages for any and all losses or damages suffered or incurred by the Company, its Subsidiaries, the Stockholders or any of their respective Affiliates in connection
with such termination (and any matter forming the basis for such termination) and (ii) none of the Company, its Subsidiaries, the Stockholders, or any of their respective Affiliates shall have any liability under or with respect to this
Agreement following termination of this Agreement pursuant to Section 11.01(h). The provisions of this Section 11.02 and Sections 6.01 (Confidentiality), 13.01 (Notices), 13.04
(Expenses), 13.06 (Governing Law), 13.07 (Jurisdiction) and 13.08 (Waiver of Jury Trial) shall survive any termination hereof pursuant to Section 11.01 of this Agreement. 

  
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 ARTICLE 12 

REPRESENTATIVE 

Section 12.01.    Designation and Replacement of Representative. The Stockholders have designated the
Representative as the initial representative of the Stockholders. The Representative may resign at any time, and Representative may be removed by the vote of the Stockholder(s) who, immediately prior to the Effective Time, held a majority of the
Fully-Diluted Shares (“Majority Holders”). In the event that a Representative has resigned or been removed, a new Representative shall be appointed by a vote of Majority Holders, with such appointment to become effective upon the
written acceptance thereof by the new Representative. 
 Section 12.02.    Authority and Rights
of Representative; Limitations on Liability. 
 (a)    The adoption of this Agreement and the approval of the Merger
by the Required Stockholder Approval or acceptance of any Aggregate Merger Consideration hereunder shall constitute the grant to the Representative of the full power and authority, to act as agent and attorney-in-fact, with full power of substitution to act in the name, place and of each Stockholder’s stead with respect to the transactions contemplated by, and all the terms and provisions of, this
Agreement and to act on such Stockholder’s behalf in any dispute or Proceeding involving this Agreement and to do or refrain from doing all such further acts and things, and execute all such agreements, certificates, instruments or other
documents, as the Representative shall deem necessary or appropriate in connection with the transactions contemplated by this Agreement, including the power to (i) execute and deliver the Escrow Agreement and Payment Agent Agreement (in each
case, with such modifications or changes therein as to which the Representative, in its sole discretion, shall have consented) and, in each case, to agree to such amendments or modifications thereto as the Representative, in its sole discretion,
determines to be desirable, (ii) interpret the terms and provisions of this Agreement and the documents to be executed and delivered in connection herewith, including Article 10, the Escrow Agreement and the Payment Agent Agreement,
(iii) execute and deliver and receive deliveries of all agreements, certificates, statements, notices, approvals, extensions, waivers, undertakings, amendments and other documents required or permitted to be given in connection with the
consummation of the transactions contemplated by this Agreement, the Escrow Agreement and the Payment Agent Agreement, (iv) receive service of process in connection with any claims under this Agreement, the Escrow Agreement or the Payment Agent
Agreement, (v) agree to negotiate, enter into settlements and compromises of, assume the defense of claims, demand arbitration and comply with orders of courts and awards of arbitrators with respect to such claims and to take all actions
necessary or appropriate in the sole judgment of the Representative for the accomplishment of the foregoing, including taking all such actions as may be necessary under Article 10, (vi) give and receive notices and communications,
(vii) authorize delivery to Parent of funds from the Escrow Account or any portion thereof in satisfaction of claims brought by Parent for Damages, (viii) receive and distribute the consideration payable hereunder, including payments from
the Escrow Account and any earnings and proceeds thereon, and (ix) take all actions (or refrain from taking actions) necessary or appropriate in the judgment of the Representative as agent for and on behalf of the Stockholders in connection
with this Agreement, the Escrow Agreement and the Payment Agent Agreement. 

  
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 (b)    Notwithstanding anything to the contrary in this Agreement, the
Representative shall have no obligation to act on behalf of the Stockholders except as expressly provided herein or in an agreement to be entered into among the Representative and the Stockholders. In connection with the carrying out of its duties,
the Representative shall have the full and complete authority to incur expenses and engage outside counsel and advisors, and shall be entitled to reimbursement of such expenses. Parent, Merger Subsidiary and the Surviving Corporation may
conclusively rely upon, without independent verification or investigation, all decisions made by the Representative in connection with this Agreement in writing and signed by an officer of the Representative. The Representative shall have no
liability to the Company, the Stockholders, Parent or Merger Subsidiary with respect to actions taken or omitted to be taken in its capacity as the Representative, except with respect to liability directly resulting from the Representative’s
willful misconduct and knowing violation of the laws or this Agreement. The Stockholders shall indemnify, defend and hold harmless the Representative from and against any and all losses, liabilities, damages, claims, penalties, fines, forfeitures,
actions, fees, costs and expenses (including the fees and expenses of counsel and experts and their staffs and all expense of document location, duplication and shipment) (collectively, “Representative Losses”) arising out of or in
connection with the Representative’s execution and performance of this Agreement, the Payment Agent Agreement and the Escrow Agreement, in each case as such Representative Loss is suffered or incurred, provided that in the event that any
such Representative Loss is finally adjudicated to have been directly caused by the willful misconduct and knowing violation of the laws or this Agreement of the Representative, the Representative will reimburse the Stockholders the amount of such
indemnified Representative Loss to the extent attributable to such bad faith or willful misconduct. If not paid directly to the Representative by the Stockholders, any such Representative Losses may be recovered by the Representative from
(i) the funds in the Representative Fund and (ii) the amounts in the Escrow Account at such time as remaining amounts would otherwise be distributable to the Stockholders, provided that while this
Section 12.02 allows the Representative to be paid from the Representative Fund and the Escrow Account, it does not relieve the Stockholders from their obligation to promptly pay such Representative Losses as they are
suffered or incurred, nor does it prevent the Representative from seeking any remedies available to it at law or otherwise. In no event will the Representative be required to advance its own funds on behalf of the Stockholders or otherwise. The
Stockholders acknowledge and agree that the foregoing indemnities will survive the resignation or removal of the Representative or the termination of this Agreement. 

Section 12.03.    Representative Fund. Representative shall use the Representative Fund to pay directly, or
reimburse the Representative for, all third party out-of-pocket costs and expenses incurred by or on behalf of the Representative, in its capacity as such, including all
costs and expenses incurred by the Representative in connection with any pending or threatened dispute or claim with respect to this Agreement, any agreement, document or instrument entered into pursuant to this Agreement, or reasonably related to
the transactions contemplated hereby or thereby in its sole discretion. The Stockholders shall not receive any interest or earnings on the Representative Fund and irrevocably transfer and assign to the Representative any ownership right that they
may otherwise have had in any such interest or earnings. The Representative shall not be liable for any loss of principal of the Representative Fund other than as a result of its willful and knowing violation of the laws or this Agreement. The
Representative shall hold these funds separate from its corporate funds, shall not use these funds for its operating expenses or any other corporate purposes and shall not voluntarily make these funds available to its

  
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creditors in the event of bankruptcy. Contemporaneous with or as soon as practicable following the completion of the Representative’s duties, the Representative shall deliver the balance of
the Representative Fund to the Payment Agent for further distribution to the Stockholders in accordance with their Allocable Percentages. The Representative Fund shall be held or disbursed, in whole or in part, as determined by the Representative.
The retention by the Representative of any amounts in the Representative Fund shall not be used as evidence that Stockholders have any liability hereunder. 

ARTICLE 13 

MISCELLANEOUS 

Section 13.01.    Notices. All notices, requests and other communications to any party hereunder shall be in
writing (including facsimile transmission and e-mail transmission, so long as a receipt of such e-mail is requested and received) and shall be given, 

if to Parent, Merger Subsidiary or, after the Effective Time, the Surviving Corporation, to: 

Envestnet, Inc. 
 35 East Wacker
Drive, Suite 2400 
 Chicago, IL 60601 

Attention: Shelly O’Brien 

Facsimile No.: (312) 827-2801 

E-mail: shelly.obrien@envestnet.com 

with a copy (which shall not constitute notice) to: 

Mayer Brown LLP 
 71 South
Wacker Drive 
 Chicago, IL 60606 

Attention: Edward S. Best and Nina L. Flax 

Facsimile No.: (312) 706-2801 

E-mail: ebest@mayerbrown.com 

             nflax@mayerbrown.com 

if, prior to the Effective Time, to the Company, to: 

Folio Dynamics Holdings, Inc. 

c/o Actua Corporation 
 555
Lancaster Ave, Suite 640 
 Radnor, PA 19087 

Attention: General Counsel 

Facsimile No.: (610) 727-6875 

E-mail: suzanne@actua.com 

  
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 with a copy to: 

Dechert LLP 
 Cira Centre 

2929 Arch Street 
 Philadelphia,
PA 19104 
 Attention: Stephen M. Leitzell 

Facsimile No.: (215) 994-2222 

E-mail: stephen.leitzell@dechert.com 

if to the Representative, to: 

Actua USA Corporation 
 555
Lancaster Ave, Suite 640 
 Radnor, PA 19087 

Attention: General Counsel 

Facsimile No.: (610) 727-6875 

E-mail: suzanne@actua.com 

with a copy to: 
 Dechert LLP

 Cira Centre 
 2929 Arch
Street 
 Philadelphia, PA 19104 

Attention: Stephen M. Leitzell 

Facsimile No.: (215) 994-2222 

E-mail: stephen.leitzell@dechert.com 

or such other address or facsimile number or e-mail address as such party may hereafter specify for the purpose by
notice to the other parties hereto. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day in
the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. 

Section 13.02.    Amendments and Waivers. 

(a)    Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing
and is signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. 

(b)    No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver
thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any
rights or remedies provided by law. 

  
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 Section 13.03.    Disclosure Schedule References. The
representations and warranties contained in Article 3 are qualified by reference to the Company Disclosure Schedules. The parties agree that the disclosures set forth in the Company Disclosure Schedules are not intended to constitute, and
shall not be construed as constituting, representations or warranties of the Company except as and to the extent expressly provided in this Agreement. Parent and Merger Subsidiary acknowledge that (a) the Company Disclosure Schedules may
include items or information which the Company is not required to disclose under this Agreement, (b) the inclusion of information in the Company Disclosure Schedules shall not be construed as an admission that such information is material to
the Company or is required to be disclosed under this Agreement, (c) headings have been inserted on the individual schedules included in the Company Disclosure Schedules for the convenience of reference only and shall not affect the
construction or interpretation of any of the provisions of the Agreement or the Company Disclosure Schedules, and (d) information contained in various schedules contained in the Company Disclosure Schedules or sections and subsections of the
schedules contained in the Company Disclosure Schedules may be applicable to other schedules or sections and subsections to the extent such applicability is reasonably apparent on the face of such disclosure. Accordingly, every matter, document or
item referred to, set forth or described in one schedule contained in the Company Disclosure Schedules shall be deemed to be disclosed under each and every part, category or heading of the Company Disclosure Schedules and shall be deemed to qualify
the representations and warranties of the Company in the Agreement, to the extent that the applicability of such matter, document or item is reasonably apparent on the face of such disclosure. 

Section 13.04.    Expenses. Except as otherwise provided herein, all costs and expenses incurred in connection
with this Agreement shall be paid by the party incurring such cost or expense. 
 Section 13.05.    Successors
and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. No party may assign, delegate or otherwise transfer any of its rights or obligations
under this Agreement without the consent of each other party hereto; provided, however, that Parent and, following the Closing, the Company may collaterally assign this Agreement to its lenders; provided, further, that no
such assignment shall relieve Parent or the Company, as applicable, of its obligations hereunder. 

Section 13.06.    Governing Law. This Agreement shall be governed by and construed in accordance with the law
of the State of Delaware, without regard to the conflicts of law rules of such state. 

Section 13.07.    Jurisdiction. The parties hereto agree that any suit, action or proceeding seeking to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in Delaware Chancery Court or, if such court shall not have jurisdiction, any federal
court located in the State of Delaware or other Delaware state court, so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any cause of action arising out of this Agreement shall be
deemed to have arisen from a transaction of business in the State of Delaware, and each of the parties hereby irrevocably consents to the exclusive 

  
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jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any
objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Process
in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as
provided in Section 13.01 of this Agreement shall be deemed effective service of process on such party. 

Section 13.08.    WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 13.09.    Counterparts; Effectiveness; Third Party Beneficiaries. This Agreement may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received a counterpart
hereof signed by all of the other parties hereto, which may be transmitted by facsimile machine or by electronic mail or transmission and any party’s signature appearing on a faxed or electronically transmitted copy of this Agreement or any
other document entered into in connection herewith shall be treated as an original signature for all purposes under Applicable Law, including for admission into evidence in any legal proceeding. Until and unless each party has received a counterpart
hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). Except for the provisions of
Section 6.04 and Article 10 of this Agreement, no provision of this Agreement is intended to confer any rights, benefits, remedies, obligations, or liabilities hereunder upon any Person other than the parties hereto
and their respective successors and assigns. 
 Section 13.10.    Entire Agreement. This Agreement, the
Escrow Agreement, the Payment Agent Agreement, the Confidentiality Agreement and the Representative Side Letter constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior
agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement. 

Section 13.11.    Severability. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in
no way be affected, impaired or invalidated 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, the parties shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent
possible. 

  
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 Section 13.12.    Specific Performance. The parties hereto
agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to
enforce specifically the performance of the terms and provisions hereof in the courts set forth in Section 13.07 of this Agreement, in addition to any other remedy to which they are entitled at law or in equity. 

Section 13.13.    No Conflict. Each of the parties (a) hereby confirms that no engagement that Dechert
LLP has undertaken or may undertake on behalf of the Company, the Representative or any of their respective current or former equityholders or Affiliates will be asserted by the Company, the Surviving Corporation, Merger Subsidiary or Parent as a
conflict of interest with respect to, or as a basis to preclude, challenge or otherwise disqualify Dechert LLP from, any current or future representation of the Surviving Corporation, the Representative or any of their respective current or former
equityholders or Affiliates, and (b) hereby waives any conflict of interest that exists on or prior to the Effective Time, or that might be asserted to exist after the Effective Time, and any other basis that might be asserted to preclude,
challenge or otherwise disqualify Dechert LLP in any representation of the Surviving Corporation, the Representative or any of their respective current or former equityholders or Affiliates with respect to any such matter. 

Section 13.14.    No Waiver of Privilege; Protection from Disclosure or Use. Nothing in this Agreement
will be deemed to be a waiver of any attorney-client privilege, work product protection, or other protection from disclosure or use. The parties have undertaken reasonable efforts to prevent the disclosure of any information that may be
confidential, subject to a claim of privilege, or otherwise protected from disclosure or use but, notwithstanding such efforts, the consummation of the transactions contemplated by this Agreement could result in the inadvertent disclosure of such
information. The parties agree that any such inadvertent disclosure of information that may be confidential, subject to a claim of privilege, or otherwise protected from disclosure or use will not constitute a waiver of or otherwise prejudice any
claim of confidentiality, privilege, or protection from disclosure, and further agree to use reasonable best efforts to return any inadvertently disclosed information to the disclosing party promptly upon becoming aware of its existence. Promptly
following the return of any inadvertently disclosed information, the party returning such information shall destroy any and all copies, summaries, descriptions, or notes of such inadvertently disclosed information, including electronic versions
thereof, and all portions of larger documents or communications that contain such copies, summaries, descriptions, or notes. 

Section 13.15.    Transaction Privileged Communications. Parent agrees, on behalf of itself and,
after the Closing, on behalf of Surviving Corporation and its Subsidiaries, that all communications in any form or format whatsoever between or among Dechert, LLP and/or any other legal counsel to the Representative (including, in-house legal counsel) (each a “Counsel”), on the one hand, and the Company or any of its directors, officers, employees or other representatives, on the other hand, to the extent the same relate
to the negotiation, documentation and consummation of the transactions contemplated by this Agreement or any dispute arising under this Agreement (collectively, the “Privileged Communications”) shall be deemed to be attorney-client
privileged and that the Privileged Communications and the expectation of client confidence relating thereto belong solely to the Representative, shall be controlled by the 

  
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Representative on behalf of the Stockholders and shall not pass to or be claimed by Parent, the Surviving Corporation or any of its Subsidiaries. Notwithstanding the foregoing, in the event that
a dispute arises between Parent, the Surviving Corporation or its Subsidiaries, on the one hand, and a third party (other than Representative in respect of the transactions contemplated by this Agreement), on the other hand, Parent, the Surviving
Corporation and its Subsidiaries may assert the attorney-client privilege to prevent the disclosure of the Privileged Communications to such third party. 

[Signature Page Follows] 

  
 -87- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

			
	FOLIO DYNAMICS HOLDINGS, INC.
		
	By:	 	 /s/ Joseph Mrak

		 	Name: Joseph Mrak
		 	Title: Chief Executive Officer
	
	ENVESTNET, INC.
		
	By:	 	 /s/ Judson Bergman

		 	Name: Judson Bergman
		 	Title: Chairman and Chief Executive Officer
	
	FCD MERGER SUB, INC.
		
	By:	 	 /s/ Judson Bergman

		 	Name: Judson Bergman
		 	Title: Chairman and Chief Executive Officer
	
	ACTUA USA CORPORATION
		
	By:	 	 /s/ Suzanne L. Niemeyer

		 	Name: Suzanne L. Niemeyer
		 	Title: General Counsel

 IN WITNESS WHEREOF, Actua Corporation and Actua Holdings, Inc. have caused this Agreement to be
duly executed by their respective authorized officers as of the day and year first above written solely for purposes of Section 8.03. 

 

			
	ACTUA CORPORATION
		
	By:	 	 /s/ Suzanne L. Niemeyer

		 	Name: Suzanne L. Niemeyer
		 	Title: General Counsel
	
	ACTUA HOLDINGS, INC.
		
	By:	 	 /s/ Suzanne L. Niemeyer

		 	Name: Suzanne L. Niemeyer
		 	Title: General Counsel

 Actua Corporation hereby fully and unconditionally guarantees to Parent and its successors and assigns,
irrespective of the validity and enforceability of this Agreement or the obligations of the Stockholder hereunder, that any Damages claimed pursuant to (a), if a R&W Policy is not bound at or prior to Closing, Section 10.02(a)(i) of this
Agreement, (b) Section 10.02(a)(v) and (c) Section 10.02(a)(vii) of this Agreement will be promptly paid in full when due. Failing payment when due of any such amount so guaranteed or any performance so guaranteed for whatever
reason, Actua Corporation will be jointly and severally obligated with the Stockholders obligated thereunder to pay the same immediately. Actua Corporation further: (i) agrees that this is a guarantee of payment and not a guarantee of collection;
(ii) agrees that its obligations hereunder are unconditional, irrespective of the absence of any action to enforce the payment obligations of the Stockholders hereunder; (iii) hereby waives diligence, presentment, demand of payment, filing of claims
with a court in the event of insolvency or bankruptcy of any Stockholder, any right to require a proceeding first against any Stockholder, protest, notice and all demands whatsoever and covenant that guarantee will not be discharged except by
complete performance of the indemnification obligations contained Article 10 in respect of Covered Matters (if and only if a R&W Policy is not bound at or prior to Closing), Sales Taxes or Section 7.09 Damages, as applicable; and
(iv) agrees that it will not be entitled to any right of subrogation in respect of any obligations guaranteed hereby, except that Actua Corporation will have the right to seek contribution from any of the non-paying Stockholders in respect of any
such guaranteed obligations. 
  

			
	ACTUA CORPORATION
		
	By:	 	 /s/ Suzanne L. Niemeyer

		 	Name: /s/ Suzanne L. Niemeyer
		 	Title: General Counsel

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