Document:

Asset Purchase Agreement

 Exhibit 10.1 
 ASSET PURCHASE AGREEMENT 
 DATED AS OF JANUARY 31, 2009 
 BY AND BETWEEN 
 INSITUFORM
TECHNOLOGIES, INC., 
 TBC ACQUISITION CORP. 
 AND 
 THE BAYOU COMPANIES, LLC 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	List of Schedules	  	v
		
	List of Exhibits	  	vii
	
	ARTICLE I
	
	Definitions
	
	ARTICLE II
	
	Purchase and Sale of Assets
			
	Section 2.1	 	Purchase of Assets	  	13
	Section 2.2	 	Excluded Assets	  	15
	Section 2.3	 	Liabilities	  	15
	Section 2.4	 	Purchase Price for Purchased Assets	  	18
	Section 2.5	 	Holdback Consideration	  	19
	Section 2.6	 	Working Capital Adjustment	  	20
	Section 2.7	 	Prorations	  	21
	Section 2.8	 	Allocation of Purchase Price	  	21
	Section 2.9	 	Closing	  	22
	Section 2.10	 	Deliveries and Actions at Closing	  	22
	Section 2.11	 	Employment Agreements	  	22
	Section 2.12	 	Lease Extension Agreements	  	22
	
	ARTICLE III
	
	Representations and Warranties of Seller
			
	Section 3.1	 	Organization	  	23
	Section 3.2	 	Authorization of Transaction	  	23
	Section 3.3	 	Non-contravention	  	24
	Section 3.4	 	Subsidiaries and Affiliates	  	24
	Section 3.5	 	Sufficiency of Assets	  	25
	Section 3.6	 	Certain Assets	  	25
	Section 3.7	 	Real Property	  	27
	Section 3.8	 	Material Contracts	  	29
	Section 3.9	 	Intellectual Property and Technology	  	31
	Section 3.10	 	Inventories	  	32
	Section 3.11	 	Customers and Suppliers	  	32
	Section 3.12	 	Warranties	  	33
	Section 3.13	 	Financial Information	  	33

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	Section 3.14	 	Absence of Certain Changes; Conduct of Business	  	33
	Section 3.15	 	Employees	  	34
	Section 3.16	 	Labor Issues	  	35
	Section 3.17	 	Benefit Plans	  	35
	Section 3.18	 	Litigation	  	36
	Section 3.19	 	Compliance With Laws	  	36
	Section 3.20	 	Permits	  	37
	Section 3.21	 	Environmental Matters	  	38
	Section 3.22	 	Taxes	  	40
	Section 3.23	 	Insurance	  	42
	Section 3.24	 	Accounts Receivable	  	43
	Section 3.25	 	Transactions with Affiliates	  	43
	Section 3.26	 	Records	  	43
	Section 3.27	 	Broker’s Fee	  	43
	Section 3.28	 	Disclosure	  	43
	
	ARTICLE IV
	
	Representations and Warranties of Buyer and ITI
			
	Section 4.1	 	Organization of Buyer and ITI	  	44
	Section 4.2	 	Authorization of Transaction	  	44
	Section 4.3	 	Non-contravention	  	44
	Section 4.4	 	Litigation	  	45
	
	ARTICLE V
	
	Pre-Closing Covenants
			
	Section 5.1	 	General	  	45
	Section 5.2	 	Notices, Assignments and Consents	  	45
	Section 5.3	 	Operation of Business	  	45
	Section 5.4	 	Antitrust Approvals	  	48
	Section 5.5	 	Access to Information	  	49
	Section 5.6	 	Exclusivity	  	50
	Section 5.7	 	Notification; Disclosed Matters; Indemnification	  	51
	Section 5.8	 	Nontransferability of Assets	  	51
	Section 5.9	 	Employee Benefits Plans	  	52
	Section 5.10	 	Environmental Actions	  	52
	Section 5.11	 	Real Property Title Issues	  	54

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	
	ARTICLE VI
	
	Post-Closing Covenants
			
	Section 6.1	 	General	  	54
	Section 6.2	 	Employees	  	54
	Section 6.3	 	Noncompetition; Nonsolicitation; Confidentiality	  	54
	Section 6.4	 	Taxes; Prorations	  	56
	Section 6.5	 	Further Assurances; Power of Attorney	  	58
	Section 6.6	 	Environmental Permit Matters	  	59
	Section 6.7	 	Name Change	  	59
	
	ARTICLE VII
	
	Conditions to Obligation to Close; Financing and Diligence
			
	Section 7.1	 	Conditions to Buyer’s and ITI’s Obligation	  	59
	Section 7.2	 	Conditions to Seller’s Obligation	  	61
	Section 7.3	 	Financing	  	62
	Section 7.4	 	Minority Interests in Related Entities	  	63
	
	ARTICLE VIII
	
	Remedies for Breaches of this Agreement
			
	Section 8.1	 	Survival of Representations and Warranties	  	63
	Section 8.2	 	Indemnification by Seller	  	64
	Section 8.3	 	Limit on Seller’s Indemnity	  	64
	Section 8.4	 	Indemnification by the Buyer Parties	  	65
	Section 8.5	 	Calculation	  	65
	Section 8.6	 	Indemnification Procedures	  	65
	Section 8.7	 	Escrow Fund	  	66
	
	ARTICLE IX
	
	Termination
			
	Section 9.1	 	Termination of Agreement	  	67
	Section 9.2	 	Effect of Termination	  	67

  

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 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	
	ARTICLE X
	
	Miscellaneous
	Section 10.1	 	Press Releases and Public Announcements	  	68
	Section 10.2	 	Expenses	  	68
	Section 10.3	 	No Third-Party Beneficiaries	  	68
	Section 10.4	 	Entire Agreement	  	68
	Section 10.5	 	Succession and Assignment	  	68
	Section 10.6	 	Counterparts	  	69
	Section 10.7	 	Headings	  	69
	Section 10.8	 	Notices	  	69
	Section 10.9	 	Governing Law; Venue	  	70
	Section 10.10	 	Amendments and Waivers	  	71
	Section 10.11	 	Severability	  	71
	Section 10.12	 	Construction	  	71
	Section 10.13	 	Incorporation of Exhibits, Annexes, and Schedules	  	72
	Section 10.14	 	Specific Performance	  	72

  

 iv 

 List of Schedules 
  

			
	 Schedule No.
	  	 Name of Schedule

	 1(a)
	  	Facilities
	 2.1(d)
	  	Assigned Contracts
	 2.4(a)
	  	Paid Excluded Liabilities
	 2.5
	  	Holdback Consideration
	 2.6(b)
	  	Working Capital Principles and Procedures
	 2.8
	  	Allocation Statement
	 3.2
	  	Seller Required Governmental Approvals
	 3.3
	  	Non-Contravention
	 3.4(a)
	  	Ownership
	 3.4(b)
	  	Other Equity Securities
	 3.4(c)
	  	Joint Ventures
	 3.5
	  	Sufficiency of Assets
	 3.6(d)
	  	Required Consents
	 3.6(f)
	  	Condition of Purchased Assets
	 3.6(g)
	  	Personal Property
	 3.6(h)
	  	Material Leases
	 3.6(i)
	  	Owned Real Property
	 3.6(j)
	  	Leased Real Property
	 3.7(l)
	  	Affiliated Lessors
	 3.7(m)
	  	Tenants at Owned Real Property
	 3.7(n)
	  	Material Repairs
	 3.7(r)
	  	Flood Plain
	 3.8
	  	Material Contracts
	 3.9(a)
	  	Intellectual Property
	 3.9(b)
	  	Patents
	 3.9(c)
	  	CCSI Intellectual Property
	 3.9(d)
	  	Title to Intellectual Property and Technology
	 3.9(e)
	  	Licenses of Intellectual Property
	 3.10
	  	Inventory Matters
	 3.11(a)
	  	Top 20 Customers and Suppliers
	 3.11(b)
	  	Customer and Supplier Matters
	 3.12(b)
	  	Warranty Claims
	 3.13
	  	Financial Statements
	 3.14
	  	Absence of Changes
	 3.15
	  	Employees
	 3.16
	  	Labor Issues
	 3.17
	  	Benefit Plans
	 3.18
	  	Litigation
	 3.19
	  	Compliance with Laws
	 3.20(a)
	  	Business Governmental Approvals
	 3.20(b)
	  	Business Governmental Approval Issues
	 3.20(c)
	  	Applications for Governmental Approvals
	 3.21
	  	Environmental Matters

  

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	3.22	  	Tax Matters
	3.23	  	Insurance
	3.24	  	Accounts Receivable Matters
	3.25	  	Intercompany Arrangements
	4.2	  	Buyer Required Governmental Approvals
	5.10	  	Environmental Actions
	6.2	  	Transfer Procedures for Employees

  

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 List of Exhibits 
  

			
	 Exhibit
	  	 Name of Exhibit

	A	  	Form of Assignment Agreement
		
	B	  	Form of FIRPTA Affidavit
		
	C	  	Form of Escrow Agreement
		
	D	  	Parishes and Counties
		
	E	  	Form of Lease Extension Agreement

  

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 ASSET PURCHASE AGREEMENT 
 THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is entered into as of January 31, 2009, by and among Insituform Technologies,
Inc., a Delaware corporation (“ITI”), TBC Acquisition Corp., a Delaware corporation (“Buyer”) and The Bayou Companies, LLC, a Louisiana limited liability company (“Seller”). Buyer and Seller are
collectively referred to herein as the “Parties” and each individually as a “Party.” 
 WHEREAS,
Seller and the Related Entities (this and other capitalized terms having the respective meanings as set forth hereinafter) are engaged, among other businesses (related and otherwise), in the Business; and 
 WHEREAS, Buyer is a wholly owned subsidiary of ITI and wishes to purchase from Seller, and Seller wishes to sell to Buyer, all of the right, title and
interest of Seller in, under, and with respect to, certain assets of Seller used in connection with or related to the Business, all upon the terms and subject to the conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties and
covenants herein contained, the Parties agree as follows. 
 ARTICLE I 
 Definitions 
 “Affiliate” of a Person means, with respect to
any Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with that first Person. 
 “Agreement” has the meaning set forth in the preface above. 
 “Allocation Statement” has the meaning set forth in Section 2.8. 
 “Ancillary Agreements” means the following agreements to be entered into between the Parties and Seller as of the Closing: the Escrow
Agreement, the Assignment Agreement and the Interest Assignment Agreements. 
 “Assigned Contract” has the meaning set forth
in Section 2.1(d). 
 “Assignment Agreement” means the Bill of Sale, Assignment and Assumption Agreement
attached hereto as Exhibit A. 
 “Assumed Liabilities” has the meaning set forth in Section 2.3(a).

 “BFT” means Bayou Flow Technologies, LLC, a Delaware limited liability company. 

 “BTR” means Bayou Coating, LLC, a Louisiana limited liability company. 
 “BWW” means Bayou Welding Works, LLC, a Louisiana limited liability company. 
 “Benefit Plan” means each employment, bonus, deferred compensation, incentive compensation, stock purchase, stock option, stock
appreciation right or other stock-based incentive, severance, salary continuation, retention, change-in-control, or termination pay, hospitalization or other medical, welfare benefits, disability, life or other insurance, supplemental unemployment
benefits, profit-sharing, pension, or retirement plan, program, agreement or arrangement and each other employee benefit plan, program, agreement or arrangement sponsored, maintained or contributed to or required to be contributed to by any Person
for the benefit of Employees, other than ordinary salary or wages for work performed. 
 “Bodily Injury” means physical
injury, sickness, disease, mental anguish, fear or emotional distress sustained by any person, including death resulting there from. 
 “Business” means the business of Seller and the Related Entities in providing services to the oil and gas pipeline industry, including, without limitation, the fabrication, bending and coating of pipe used in the
transportation of oil and gas and which includes (1) fusion bond epoxy (FBE) coating, Internal Diameter (ID) lining, concrete coating, thermal spray aluminum, c-therm, polyurethane foam and field joint coatings, and (2) welding, handling
and loading, project management, anode installation and ancillary services. 
 “Business Insurance Policies” has the meaning
set forth in Section 3.23. 
 “Business Day” means any day other than a Saturday, Sunday or a day on which banks
in New York, New York, or Lafayette, Louisiana are authorized or obligated by applicable law or executive order to close or are otherwise generally closed. 
 “Business Governmental Approvals” has the meaning set forth in Section 3.20(a). 
 “Buyer” has the meaning set forth in the preface above. 
 “Buyer Parties” means Buyer and ITI.

 “Buyer Indemnified Parties” has the meaning set forth in Section 8.2. 
 “Cash” means cash equivalents and marketable securities less outstanding checks and plus deposits in transit. 
 “CCSI” means Commercial Coating Services International, Ltd., a Texas limited partnership. 
 “CCSIM” means CCSI Management, LLC, a Texas limited liability company. 
  

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 “CERCLA” means the Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. § 9601 et seq., and the rules and regulations promulgated thereunder, as amended. 
 “Claim” means any and all Liabilities, losses, damages, deficiencies, demands, claims, fines, penalties, interest, assessments, judgments, Liens, charges, Orders, dues, assessments, Taxes and Proceedings of whatever kind
and nature and all costs and expenses relating thereto, including fees and expenses of counsel, accountants and other experts, and other expenses of investigation and litigation; provided, however, with respect to disputes or claims arising between
the Parties hereto, the term “Claim” shall not include speculative, exemplary or punitive damages of a Party. 
 “Cleanup” means all actions required to (a) identify, investigate, contain, characterize, cleanup, monitor, remove, remediate, transport, treat or otherwise address any Hazardous Substances present in the Environment,
(b) prevent the Release of Hazardous Substances into the Environment so that they do not migrate, endanger or threaten to endanger public health or welfare or the Environment, (c) perform pre-remedial studies and investigations and post
remedial monitoring and care, or (d) respond to any government directives, orders, requests for information or other documents in any way relating to investigation, cleanup, removal, treatment, monitoring or remediation of Hazardous Substances
in the Environment. The term includes, but is not necessarily limited to, the definitions of “removal,” “remedial action,” and “respond” as set forth in CERCLA, 42 U.S.C. § 9601 (23), (24) and (25), as
amended, and “corrective action” as used in the Resource Conservation and Recovery Act, 42 U.S.C. § 6928(h), as amended. 
 “Cleanup Costs” means all costs, fees, expenses (including attorneys’ fees and expenses), settlements, judgments, fines, penalties and other remuneration incurred for Cleanup, including response costs incurred and
oversight fees imposed or assessed by any Governmental Authority with jurisdiction over the Cleanup. 
 “Closing” has the
meaning set forth in Section 2.9. 
 “Closing Date” has the meaning set forth in Section 2.9.

 “Closing Working Capital” has the meaning set forth in Section 2.6(b). 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Confidential Information” has the meaning set forth in Section 6.3(d). 
 “Confidentiality Agreement” means that certain Confidentiality Agreement, dated as of August 6, 2008, between ITI and Seller.

 “Consent” means any consent, approval or authorization of a Person, including any Governmental Approval. 
  

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 “Consolidated EBITDA” means the net income attributable to controlling interest of the
Business for any applicable Holdback Period determined in accordance with GAAP (consistently applied by Buyer after the Closing during the Holdback Period as applied by Seller prior to Closing), plus interest expense, minus interest income, plus
income Taxes, depreciation and amortization expense; modified, to the extent included in the determination of net income of ITI, to exclude the effect of the following items: (a) the impact of non-cash purchase accounting adjustments and new
accounting pronouncements; (b) nonoperating income and nonoperating expense, and (c) the gain or loss from any sale, exchange or other disposition of assets owned by Seller or the Buyer Parties (as applicable). 
 “Contract” means any agreement, contract, obligation, promise, or undertaking, whether written or oral and whether express or implied,
that is legally binding. 
 “Control” means the power to direct, or cause the direction of, directly or indirectly, the
management or policies of the specified Person, whether through the ownership of more than 50% of the voting equity ownership of such Person (or securities convertible or exchangeable into more than 50% of such voting equity ownership interest), by
contract or otherwise. 
 “Disclosure Report” has the meaning set forth in Section 5.7. 
 “Employee” means an employee of Seller or a Related Entity engaged exclusively or primarily in the Business. 
 “Employment Agreement” means a Contract of Seller or any Related Entity with or addressed to any current or former Employee pursuant to
which any Person has any actual or contingent liability or obligation to provide compensation and/or benefits in consideration for past, present or future services. 
 “Environment” means surface or subsurface soil or strata, surface waters and sediments, navigable waters, wetlands, groundwater, sediments, drinking water supply, ambient air, plants, wildlife,
animals and natural resources. The term also includes indoor air, structures and building materials to the extent regulated under Environmental Laws. 
 “Environmental Claim” means a claim or demand by, or notice from, a third party, including any Governmental Authority, person or citizens’ group, seeking a remedy or alleging liability or
responsibility for or with respect to any Environmental Condition or violation of or liability under Environmental Law or Environmental Permits, whether due to negligence, strict liability or otherwise. The term includes administrative
investigations, hearings and proceedings, court actions, arbitrations, orders, notices of violation, notice of potential responsibility, claims, actions (including contribution actions), demands and notices by third parties for or with respect to
Bodily Injury, Environmental Property Damage, Cleanup, Cleanup Costs and violations of Environmental Laws, regardless of whether the claim at issue is false, fraudulent or has no basis in fact and regardless of whether the party against whom the
claim is asserted has a legal or equitable defense to such claim. 
  

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 “Environmental Condition” means the intentional or unintentional presence, Release, or
Threatened Release of any Hazardous Substances at or into the Environment. The term includes the presence of abandoned or closed containers, tanks or receptacles that contain or formerly contained Hazardous Substances and exposure or alleged
exposure of the Environment, persons, or property to Hazardous Substances. 
 “Environmental Laws” means any federal, state
or local statute, law, regulation, rule, ordinance, guidance document and policy statement dealing with the pollution or protection of the environment and natural resources, including indoor and ambient air, and includes, but is not necessarily
limited to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq., the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et
seq., the Clean Water Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 42 U.S.C. § 7401 et seq., the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq., the Safe Drinking Water
Act, 42 U.S.C. § 300f et seq., the Emergency Planning and Community Right-to-Know Act, 42 U.S.C. § 11001 et seq., the Oil Pollution Act, 33 U.S.C. § 2701 et seq., the Hazardous Material
Transportation Act, 49 U.S.C. § 1801 et seq., and the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq., as amended. 
 “Environmental Permits” means any authorizations, licenses, permits, plans or registrations required by or issued pursuant to any Environmental Law by any Governmental Authority in connection with
Seller’s activities and operations at the Facility and Real Property. 
 “Environmental Property Damage” means physical
damage, injury to or destruction of tangible real or personal property or the Environment. 
 “Equity Securities” of any
Person means (a) shares of capital stock, limited liability company interests, partnership interests or other equity securities of such Person, (b) subscriptions, calls, warrants, options or commitments of any kind or character relating
to, or entitling any Person to purchase or otherwise acquire, any capital stock, limited liability company interests, partnership interests or other equity securities of such Person, (c) securities convertible into or exercisable or
exchangeable for shares of capital stock, limited liability company interests, partnership interests or other equity securities of such Person, and (d) equity equivalents, interests in the ownership or earnings of, or equity appreciation,
phantom stock or other similar rights of, or with respect to, such Person. 
 “ERISA” means the United States Employee
Retirement Income Security Act of 1974 and the rules and regulations promulgated thereunder, as amended. 
 “Escrow Agent”
means an escrow agent selected by Seller and approved by Buyer in its reasonable discretion prior to Closing. 
 “Escrow
Agreement” has the meaning set forth in Section 2.4(b). 
 “Escrow Fund” has the meaning set forth in
Section 2.4(b). 
 “Excluded Assets” has the meaning set forth in Section 2.2. 
  

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 “Excluded Liabilities” has the meaning set forth in Section 2.3(b).

 “Facility” means any of the facilities described on Schedule 1(a). 
 “Financial Statements” means (a) the audited balance sheets of Seller and each Related Entity as of December 31, 2005, 2006
and 2007 and income statements and statements of cash flows of Seller and each Related Entity for the years then ended, together with the notes thereto, and (b) the unaudited balance sheets of Seller and each Related Entity as of
September 30, 2007 and 2008 and the income statements of Seller and each Related Entity for the nine-month periods then ended. 
 “FIRPTA Affidavit” means the affidavit to be delivered by Seller at the Closing pursuant to Section 1445(b)(2) of the Code, to establish that Seller is not a “foreign person” within the meaning of that
Section, a copy of the form of which is attached hereto as Exhibit B. 
 “Fundamental Excluded Liabilities” mean
those Excluded Liabilities described in Sections 2.3(b)(vi)(A), 2.3(b)(vi)(B), 2.3(b)(vii), 2.3(b)(viii), 2.3(b)(ix), 2.3(b)(xi), 2.3(b)(xii), 2.3(b)(xiii), 2.3(b)(xiv) and 2.3(b)(xv) and those set forth on Schedule 2.4(a). 

“GAAP” means accounting principles generally accepted in the United States as in effect from time to time and consistently applied
through the periods involved. 
 “Governmental Approval” means any grant, credit, concession, Permit, ruling, Order, tariff
or rate of, filing or registration with, or declaration, report or notice to, any Governmental Authority required under any applicable Law (including any Environmental Permit). 
 “Governmental Authority” means any national, state, regional, county, municipal, local or foreign court, arbitral tribunal, agency,
board, bureau or commission or other governmental or other regulatory authority or instrumentality. 
 “Hazardous
Substances” means any solid, liquid, gaseous or thermal pollutant, element, chemical, compound, irritant, substance, vapor or waste regulated as a “contaminant,” “hazardous material,” “hazardous substance,”
“hazardous waste” or “pollutant” under any applicable Environmental Law, including but not necessarily limited to: explosives, radioactive materials, mold, solid waste, hazardous waste, asbestos-containing material,
polychlorinated biphenyls, pesticides, lead-based paint, petroleum-based products and constituents thereof, radiation, noise, and any other material, substance or waste to which liability or standards of conduct are imposed under any applicable
Environmental Law. 
 “Holdback Periods” has the meaning set forth in Schedule 2.5(b). 
 “Indemnified Party” has the meaning set forth in Section 8.6(a). 
 “Indemnifying Party” has the meaning set forth in Section 8.6(a). 
 “Indemnity Notice” has the meaning set forth in Section 8.6(f). 
  

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 “Independent Accountant” has the meaning set forth in Section 2.5(d).

 “Intellectual Property” means domain names and any rights available (including with respect to Technology), under patent,
trademark, service mark, utility model, copyright or trade secret law or any other statutory provision or common law doctrine in the United States or other country, irrespective of whether such rights are registered, and including without
limitation, utilization rights, in all cases that are used or held for use by Seller or the Related Entities in connection with the Business. 
 “Intercompany Payables” means all intercompany payables between or among (a) Seller and any Affiliate of Seller or between Affiliates of Seller, and (b) between Seller and any employee, officer or member thereof,
including advances, loans and payables, and (c) rebillable purchases of Seller. 
 “Intercompany Receivables” means all
intercompany receivables between or among (a) Seller and any Affiliate of Seller or between Affiliates of Seller, and (b) between Seller and any employee, officer or member thereof, including advances and loans, and (c) rebillable
purchases of Seller. 
 “Interest Assignment Agreement” means assignment agreement(s) assigning all of Seller’s right,
title and interest in all Equity Securities held by Seller in the Related Entities in forms reasonably acceptable to the Buyer Parties. 
 “Inventory” means inventory held for sale and all raw materials, work in process and finished products, in each case exclusively or primarily used in the Business including such as are located at the Facilities and any of
the foregoing located at any third party warehouse or storage location. 
 “IRS” means the United States Internal Revenue
Service and, to the extent relevant, the United States Department of Treasury. 
 “ITI” has the meaning set forth in the
preface above. 
 “Know-How” means proprietary trade secrets, formulae, invention records, specifications, quality control
procedures, manufacturing processes and other know-how. 
 “Knowledge” means, with respect to an individual and a given fact
or matter, that either (i) such individual is actually aware of such fact or matter, or (ii) a prudent individual in such individual’s position should reasonably be expected to be aware of such fact or other matter. 
 “Knowledge of Seller,” “Seller’s Knowledge,” and similar phrases mean the Knowledge of any individual who is
serving as a manager, member or officer of Seller and the following individuals: Gary Brown, Michael Burke, Joey Zagar, and Glenn Smotek. 
  

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 “Law” means any federal, state, local or foreign statute, rule, code, regulation,
ordinance, Order, Permit or directive of, or issued by, any Governmental Authority, including any Environmental Law. 
 “Liability” means any debt, liability or obligation (whether known or unknown, whether absolute or contingent, whether liquidated or unliquidated, and whether due or to become due). 
 “Leased Real Property” means those certain parcels of real property and the buildings thereon which are leased by Seller or a Related
Entity. 
 “Lien” means any mortgage, deed of trust, lien, pledge, claim, charge, security interest, option, restriction,
limitation, easement, title defect or other adverse claim of ownership or use, or other encumbrance of any kind, character or description, whether or not of record (including any deposit, conditional or installment sale, other title retention
Contract or capital lease), any lease in the nature thereof, or any filing of, or agreement to give, any financing statement. 
 “Material Adverse Effect” or “Material Adverse Change” means any effect or change that would be materially adverse to (i) the assets, liabilities, results of operations, business, prospects or
condition (financial or otherwise) of the Business taken as a whole, except any such effect resulting from or arising in connection with (A) the execution or announcement of this Agreement, or (B) any change in the financial markets or
general economic conditions generally affecting the industry in which the Business operates, or (ii) the ability of Seller to consummate timely the transactions contemplated hereby. 
 “NLRB” means the National Labor Relations Board. 
 “Order” means any award, decision, injunction, judgment, stipulation, order, ruling, subpoena, writ, determination, decree, consent decree or verdict entered, issued, made or rendered by any
arbitrator or Governmental Authority. 
 “Ordinary Course of Business” means the ordinary course of business of Seller or
the Related Entities, as applicable, with respect to the Business consistent with past custom and practice (including with respect to quantity and frequency). 
 “Owned Real Property” means any parcels of real property and the buildings thereon in which Seller or a Related Entity has an ownership interest, together with all fixtures thereto. 
 “Party” has the meaning set forth in the preface above. 
 “Permit” means any permit, authorization, approval, registration, license, certificate, exemption, waiver or variance issued or granted by or obtained from any Governmental Authority. 
 “Permitted Liens” means, with respect to all Purchased Assets: (a) Liens for Taxes and other governmental charges and assessments
which are not yet due and payable or are being contested in good faith in accordance with applicable law and for which adequate reserves have 

  

 8 

 
been recognized in the Financial Statements; (b) zoning, building and land use laws, ordinances, orders, decrees, restrictions and conditions imposed by
any Governmental Authority, provided no such laws are being violated in any material respect by the current use or occupancy or ownership of the Purchased Asset subject thereto; (c) other imperfections of title or encumbrances with respect to
the Purchased Assets which arise in the Ordinary Course of Business and do not materially detract from the value of or materially and adversely interfere with the present use of the Purchased Assets subject thereto or affected thereby;
(d) purchase money Liens disclosed to Buyer (except as to Owned Real Property) and Liens securing rental payments under lease arrangements; and (e) Liens incurred in the Ordinary Course of Business in respect of pledges or deposits under
workers’ compensation laws or similar legislation, carriers, landlord’s, workmen’s, warehousemen’s, mechanics, laborer’s, materialmen’s or other similar Liens, if the obligations secured by such Liens are Assumed
Liabilities and are not delinquent. 
 “Person” means an individual, a partnership, a corporation, a limited liability
company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, any other business entity or a Governmental Authority (or any department, agency, or political subdivision thereof). 
 “Personal Property” means all machinery and other mobile and immobile equipment, tools, tooling, parts, spare parts (whether capitalized
or dedicated); supply and packaging materials, any other supplies, stores, furniture, furnishings, personal property, vehicles, vessels, barges, rolling stock, computers, materials and all other tangible personal property, in each case, that is
exclusively or primarily used in or exclusively or primarily related to the Business. 
 “Post-Closing Environmental
Liabilities” means and shall be limited to any accrued, absolute claim, liability, responsibility, obligation or economic loss arising from or associated with (i) actual Buyer violations of or liability under any existing or former
lease or other contract, any Environmental Laws and any Environmental Permits, (ii) any Environmental Claim, not pertaining to one or more pre-closing events or activities, and (iii) any Environmental Conditions at, on, under, or emanating
to or from the Real Property; in each case (i) through (iii) arising from facts, conditions or events first existing or first occurring after the Closing Date due to acts of a Buyer Party which occurred during a Buyer Party’s leasing
or ownership of such Real Property, or any other property, regardless of how the fact, condition, or event giving rise to any such claim, liability, responsibility or obligation is caused. The term includes, but is not limited to, any such claim,
liability, responsibility, obligation or economic loss arising from or associated with (a) the transportation, treatment, storage or disposal by a Buyer Party of Hazardous Substances after the Closing at or on any of the Real Property;
(b) the failure of Buyer or its Affiliates to obtain and comply with any Environmental Permits after the Closing; and (c) the exposure, due to acts by or on behalf of a Buyer Party, of the Environment, persons, or any real or personal
property to Hazardous Substances after the Closing. 
 “Pre-Closing Environmental Liabilities” means and shall be limited to
any accrued, absolute claim, liability, responsibility, obligation or economic loss arising from or associated with (i) actual violations of or liability under any existing or former lease or other contract, any Environmental Laws and any
Environmental Permits, (ii) any Environmental Claim, not 

  

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pertaining to one or more post-closing events or activities, and (iii) any Environmental Conditions at, on, under, or emanating to or from the Real
Property or any real property formerly owned, leased, occupied or otherwise used for any purpose by Seller or a Related Entity or any predecessor and/or the Business; in each case (i) through (iii) arising from facts, conditions or events
first existing or first occurring on or before the Closing Date due to acts of Seller or any Related Entity which occurred during the Seller’s or any Related Entity’s leasing or ownership of such Real Property, or any other property,
regardless of how the fact, condition, or event giving rise to any such claim, liability, responsibility or obligation is caused, and whether or not the fact, condition, event, claim, liability, responsibility or obligation is, at the time of this
Agreement or the Closing Date, known, suspected or unknown, disclosed or undisclosed, latent or patent. The term includes, but is not limited to, any such claim, liability, responsibility, obligation or economic loss arising from or associated with
(a) the transportation, treatment, storage or disposal by Seller or any Related Entity of Hazardous Substances at any time prior to Closing at or on any of the Real Property; (b) the failure of Seller or the Related Entities to obtain and
comply with any Environmental Permits prior to Closing; and (c) the exposure, due to acts by or on behalf of Seller or the Related Entities, of the Environment, persons, or any real or personal property to Hazardous Substances prior to Closing.
Pre-Closing Environmental Liabilities are Excluded Liabilities under Section 2.3(b) of this Agreement. 
 “Proceeding” means any claim, assertion, notice of claim or assertion, complaint, action, litigation, suit, proceeding, formal investigation, inquiry, audit or review of any nature, civil, criminal, regulatory,
administrative or otherwise, or any grievance, arbitration or arbitration demand. 
 “Proportional Related Entity Net
Debt” means the amounts calculated for each Related Entity as follows: (a) the sum of (i) all indebtedness for borrowed money of such Related Entity (including any long term indebtedness, accrued interest, capital leases and
Intercompany Payables) on the Closing Date, less (ii) all Cash and Intercompany Receivables of such Related Entity on the Closing Date (but not including any Cash distributed pursuant to Section 5.3(b)(xxvii)), multiplied by
(b) a fraction, the numerator of which is the total Equity Securities held by Seller in such Related Entity at Closing and the denominator of which is the total outstanding Equity Securities of such Related Entity at Closing. 

 “Purchased Assets” has the meaning set forth in Section 2.1. 
 “Purchase Price” has the meaning set forth in Section 2.4. 
 “Real Property” means the Owned Real Property and the Leased Real Property. 
 “Records” means all books, books of account, engineering plans, designs, documents, records, drawings and similar record-keeping
materials, regardless of the type of medium on which stored, relating to the Business or Purchased Assets. 
 “Regulations”
means the final and temporary Treasury Regulations promulgated under the Code. 
  

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 “Related Entities” means CCSI, CCSIM, BFT, BTR and BWW. 
 “Release” means any releasing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, leaking, dispersing, depositing,
injecting, escaping, leaching, disposing, migrating or dumping into the Environment, whether intentional or unintentional, foreseen or unforeseen. The term also includes the abandonment or discarding of barrels, containers or closed receptacles
containing or previously containing any amount of Hazardous Substances, or abandonment or speculative accumulation of any Hazardous Substance for recycling as well as the definition of “disposal” at 42 U.S.C. §6903(3). The term
“Threatened Release” means a substantial likelihood of a Release which warrants action to prevent a Release or mitigate damage to the Environment which may result from such Release 
 “Relevant Competition Authorities” means (i) the relevant Governmental Authority with legal authority to make a decision pursuant
to antitrust, competition or similar laws granting or refusing to consent to any merger or acquisition falling within its jurisdiction and within whose jurisdiction the acquisition of all or part of the Purchased Assets by Buyer actually falls, and
(ii) the relevant Governmental Authority in each jurisdiction in which additional mandatory filings may be required in connection with the acquisition of all or part of the Purchased Assets by Buyer by reason of a change in legislation after
the date of this Agreement. 
 “Representatives” has the meaning set forth in Section 5.6(a). 
 “Restricted Area” has the meaning set forth in Section 6.3(a). 
 “Restricted Period” has the meaning set forth in Section 6.3(a). 
 “Securities Laws” means all applicable federal and state securities laws, including the Securities Act of 1933, as amended, the
Securities Exchange Act of 1934, as amended, and any regulations promulgated thereunder. 
 “Seller” has the meaning set
forth in the preface above. 
 “Seller’s Members” means Jerry Shea, Stewart Shea, Jimmy Shea, Suzy Kimball, Ellen
Mullen, Maureen Smith, Steven Shea, Katy Svendson, Mary Zaunbrecher, Stephanie Shea and Kelly Holleman. 
 “Seller Indemnified
Parties” has the meaning set forth in Section 8.4. 
 “Site” means, with respect to a given Facility,
the Owned Real Property or Leased Real Property forming a part of, or used or usable in connection with the Facility. Any reference to a Site shall include, by definition, the surface and subsurface elements, including the soils and groundwater
present at the Site, and any reference to items “at the Site” shall include items “at, on, in, upon, over, across, under and within” the Site. 
 “Software” means any and all computer programs, whether in source code or object code; databases and compilations, whether machine readable or otherwise; descriptions, flow-charts 

  

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and other work product used to design, plan, organize and develop any of the foregoing; and all documentation including user manuals and other training
documentation related to any of the foregoing. 
 “Stupp Agreement means an agreement executed by Stupp Bros., Inc. not to
exercise certain rights to purchase the assets and/or interests of Seller in BTR pursuant to the terms of Section 11.5 of the Operating Agreement of BTR for a period of at least 5 years. 
 “Stupp Payment” means a payment to be made at Closing to Stupp Brothers, Inc. or its designated Affiliates in exchange for the execution
of the Stupp Agreement. 
 “Straddle Period” has the meaning set forth in Section 6.4(e). 
 “Target Working Capital” has the meaning set forth in Section 2.6(a). 
 “Tax” or “Taxes” means (A) all net income, gross income, gross receipts, sales, use, ad valorem, franchise,
profits, license, lease, service, service use, withholding, employment, payroll, earnings, net worth, unemployment insurance, Social Security, Medicare, excise, severance, transfer, value added, documentary, mortgage, registration, stamp,
occupation, real or personal property, environmental, premium, property, windfall profits, customs, duties and other taxes, fees, levies, assessments or charges of any kind whatsoever, together with any interest, penalties, fines and other additions
with respect thereto, imposed by any federal, territorial, state, provincial, local or foreign government; and (B) any penalties, interest, fines or other additions to tax for the failure to collect, withhold, or pay over any of the foregoing,
or to accurately file any Tax Return; and the term “Tax” shall mean any one of the foregoing Taxes (including, without limitation, any obligation in connection with a duty to collect, withhold or pay over any Tax, any obligation to
contribute to the payment of any Taxes determined on a consolidated, combined, or unitary basis, any liability as a transferee, or any liability as a result of any express or implied obligation to indemnify or pay the Tax obligations of another
person). 
 “Tax Return” means collectively, (A) all reports, declarations, filings, questionnaires, estimates,
returns, information statements and similar documents relating to, or required to be filed in respect of any Taxes, including, without limitation, any amendments thereof; and (B) any statements, returns, reports, or similar documents required
to be filed pursuant to Part III of Subchapter A of Chapter 61 of the Code or pursuant to any similar income, excise or other tax provision of federal, territorial, state, provincial, local or foreign law, including, without limitation, any
amendments thereof; and the term “Tax Return” means any one of the foregoing Tax Returns. 
 “Technology” means,
collectively, designs, formulae, methods, techniques, ideas, data, improvements, inventions, Software and other similar materials, and all recordings, graphs, drawings, reports, analyses, and Know-How and other writings, and any other embodiments of
the above, in any form whether or not specifically listed herein, and all related technology, that are used, incorporated or embodied in or displayed by any of the foregoing or used in the design, development, reproduction, sale, marketing,
maintenance or modification of any of the foregoing, in all cases that are used or held for use by Seller or the Related Entities in connection with the Business. 
  

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 “Third Party Claim” has the meaning set forth in Section 8.6. 
 “Transaction Documents” means this Agreement, the Ancillary Agreements and the other agreements, instruments and documents delivered or
caused to be delivered in accordance with Article 7 and such other documents and instruments of transfer or assignment that are reasonably requested by a Party to carry out the intent of the Parties hereunder or thereunder. 
 “WARN Act” means the United States Worker Adjustment and Retraining Notification Act and the rules and regulations promulgated
thereunder, as amended. 
 ARTICLE II 
 Purchase and Sale of Assets 
 Section 2.1 Purchase of Assets. Subject to the terms
and conditions of this Agreement, at the Closing, Seller shall sell, assign, transfer, convey and deliver to Buyer, free and clear of all Liens and Liabilities (other than Permitted Liens and the Assumed Liabilities), all of their right, title and
interest in and to the properties, assets, rights, business, claims and Contracts (other than such properties, assets, rights, business, claims and/or Contracts specifically included in the Excluded Assets), of every kind and description, wherever
located, real, personal or mixed, tangible or intangible, owned by Seller as the same shall exist on the Closing Date, in each case, exclusively or primarily relating to, or exclusively or primarily used in, the Business (collectively, the
“Purchased Assets”). Without in any way limiting the generality of the foregoing, except for the Excluded Assets, the Purchased Assets shall include all right, title and interest owned by Seller in and to: 
 (a) Facilities and Real Property. Leasehold interests in the Facilities and the Real Property; 
 (b) Personal Property. The Personal Property; 
 (c) Inventory. The Inventory; 
 (d) Contracts. Subject to receipt of any
required Consent and subject to the exclusion of certain Contracts pursuant to Section 2.2(j), all right, title and interest of Seller in and under the Contracts that exclusively or primarily relate to the Business or exclusively or
primarily relate to the operations existing at the Real Property (the “Assigned Contracts”), including all rights to receive goods and services purchased pursuant to such Contracts and to assert claims and take other actions in
respect of breaches or other violations thereof, except to the extent related to Excluded Assets or Excluded Liabilities, including the Contracts described on Schedule 2.1(d); 
  

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 (e) Records. All Records of Seller pertaining exclusively or primarily to (i) the
Business, (ii) the ownership and operation of the Facilities, (iii) the Know-How, or (iv) the Employees (subject in each case to the right of Seller to retain copies of same for its use); 
 (f) Intellectual Property. All Intellectual Property of Seller; 
 (g) Technology. All Technology of Seller; 
 (h) Credits and Prepaid Expenses. All credits, prepaid expenses, deferred charges, advance payments and security deposits (other than those relating to Taxes) of Seller exclusively or primarily relating
to or exclusively or primarily used in the Business; 
 (i) Customer Lists. The list of Seller’s customers of the Business
and the potential customers of the Business with which Seller is, as of the Closing, in discussions regarding future Contracts; 
 (j)
Marketing Materials. All sales, promotional, advertising and other literature, catalogues, price lists and other sales-related materials (in any medium) of Seller exclusively or primarily used in or exclusively or primarily relating to the
operation or conduct of the Business; 
 (k) Warranty Rights. All of Seller’s rights under express or implied warranties
exclusively or primarily relating to the Business from third parties, except to the extent related to the Excluded Liabilities; 
 (l)
Governmental Approvals. Subject to the receipt of any required Consent, (A) all Governmental Approvals held by Seller that are exclusively or primarily used, required or necessary for the lawful ownership or operation of the Purchased
Assets (including the Governmental Approvals (and applications therefor) listed on Schedules 3.20(a), 3.20(b) and 3.20(c), and the Environmental Permits listed on Schedule 3.21, and all certifications, registrations and similar
rights, if any, held by Seller or any of its Affiliates that are necessary to, allow Buyer to fulfill its obligations under Assigned Contracts; 
 (m) Goodwill. All goodwill of Seller attributable to the Business; 
 (n) Interest in Affiliates. All
partnership interests, membership interests and all other Equity Securities held by Seller in CCSI, BFT, BTR, BWW and CCSIM; and 
 (o) Contact Information. All e-mail addresses, website addresses, domain names and Internet Universal Resource Locators and all telephone and telecopier numbers and post office boxes. 
 For the avoidance of doubt, the Purchased Assets do not include any assets of the Related Entities and such assets shall be unaffected by, and shall not be transferred
or assigned by, this Agreement. 
  

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 Section 2.2 Excluded Assets. Notwithstanding anything to the contrary in this
Agreement, nothing in this Agreement will constitute or be construed as conferring on Buyer, and Buyer is not acquiring, any right, title or interest in or to any of the following assets of Seller (collectively, the “Excluded
Assets”): 
 (a) Dispositions in Ordinary Course. All properties, assets, rights, business, claims, and Contracts sold
or otherwise disposed of by Seller in the Ordinary Course of Business and not in violation of any provision of this Agreement during the period from the date hereof until the Closing Date; 
 (b) Cash. All Cash of Seller; 
 (c) Insurance. All insurance policies or insurance coverage of Seller (or assumed coverage); 
 (d)
Intercompany Accounts. All Intercompany Receivables between Seller and any Affiliate of Seller, whether incurred prior to or on the Closing Date; 
 (e) Tax Refunds. All refunds, rebates or similar payments of Taxes to the extent such Taxes were paid by or on behalf of Seller; 
 (f) Tax Returns. All Tax Returns of Seller; 
 (g) Benefit Plans. All Benefit Plans of Seller; 
 (h) Corporate Records. The
organizational documents, the minute and stock record books, the corporate seals and the accounting, Tax, litigation and insurance Records of Seller; 
 (i) Tickets. All LSU stadium (non-suite) football tickets; and 
 (j) Contracts.
Those Contracts which a Buyer Party identifies as an Excluded Asset in writing to Seller on or prior to the Closing Date, in which case such Contracts shall not be Assigned Contracts. 
 Section 2.3 Liabilities. 
 (a) Assumed Liabilities. At the Closing, subject to the terms and conditions of this Agreement, including without limitation, Article 8 of this Agreement, Seller shall assign, and Buyer shall assume and agree to
pay, perform and discharge all Liabilities of Seller under any Assigned Contract that arise after the Closing Date and all accrued Liabilities arising on or prior to the Closing Date under the Assigned Contracts in the Ordinary Course of Business to
the extent performance is required after the Closing Date and payment for such performance has not been previously paid to Seller (other than any Liability for the payment of money or any Liability in respect of any breach or failure of performance,
in either case arising on or prior to the Closing Date) and Buyer shall further assume all liabilities of Seller set forth in the Working 

  

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Capital calculations of Section 2.6 herein (collectively, the “Assumed Liabilities”). For the avoidance of doubt, the Assumed
Liabilities do not include any liability or obligation of the Related Entities and such liabilities and obligations shall not be assigned or assumed as part of the transactions contemplated by this Agreement. 
 (b) Excluded Liabilities. Neither Buyer nor any of its Affiliates has agreed to pay or discharge, shall be required to assume or shall have
any Liability of Seller, any of Seller’s Affiliates or any other Person, the assumption of which by Buyer or its Affiliates is not expressly provided for in this Agreement. Without limiting the foregoing, except for the Assumed Liabilities or
as otherwise expressly provided for in this Agreement, Buyer or its Affiliates shall not assume, be liable for, or otherwise become responsible for (i) any Liability of any nature of Seller or any of its Affiliates or (ii) any Liability
(whether arising prior to, on or after the Closing Date) arising from, or in connection with, the ownership, holding, use or operation by Seller of the Purchased Assets or the Business, in each case in this clause (ii) on or prior to the
Closing Date (collectively, the “Excluded Liabilities”), including: 
 (i) any Liability relating to
any operations of Seller other than those Liabilities expressly identified above under Section 2.3(a); 
 (ii)
any Intercompany Payables or any other Liability between Seller and any Affiliate of Seller, whether incurred prior to, on or after the Closing Date; 
 (iii) any Liability under, with respect to, or in connection with, any Contract of Seller or any of its Affiliates other than the Liabilities assumed under the Assigned Contracts under Section 2.3(a);

 (iv) any Liability associated with products sold or manufactured by Seller with respect to the Business on or prior
to the Closing Date and any other Liability with respect to the Business and the Purchased Assets relating to events or circumstances arising on or prior to the Closing Date; 
 (v) any Liability that arises, whether before, on or after, the Closing Date, out of, or in connection with, the Excluded Assets;

 (vi) (A) any and all Liability with respect to any Pre-Closing Environmental Liabilities, (B) any and all
Liability with respect to any Release, act or omission, event or condition set forth on Schedule 3.21, and (C) any and all other Liabilities, under Environmental Laws, affecting or related in any way to any portion of, the Facilities,
the Real Property or the Purchased Assets or any other property or assets related to or used by Seller, its Affiliates or any predecessor thereof in the Business, whether arising from Releases, acts or omissions or events or conditions in existence
or occurring prior to, on or after the Closing Date or arising from Releases, acts or omissions of Seller, the Related Entities or any of their respective Affiliates, any respective predecessor thereof, or any of their respective employees, agents,
representatives or contractors, including Liabilities related to any off-site transportation, treatment, storage or disposal of Hazardous Substances; 
  

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 (vii) any Liability in connection with any compensation or benefit obligation
(including, without limitation, vacation pay, medical expenses, bonuses and all agreements with respect to split dollar life insurance) or other Liability relating to events or circumstances arising on or prior to the Closing Date, including under
the WARN Act or other local or state plant closing law, in connection with any Employee or any other employee, former employee or independent contractor of Seller or the Related Entities; 
 (viii) any Liability with respect to Employees or under or with respect to any Benefit Plan; 
 (ix) any Liability in connection with any Proceeding that (1) on the Closing Date is in progress, pending or threatened
against or affecting Seller, the Purchased Assets, the Business or this Agreement, in each case at law or in equity, by or before any Governmental Authority or any other Person or (2) arises prior to, on, or following the Closing Date against
or affecting Seller, the Purchased Assets or the Business at law or in equity, by or before any Governmental Authority or other Person, to the extent relating to the period on or prior to the Closing Date; 
 (x) the outstanding and unaccrued expenses and accounts payable of Seller at the Closing Date, including such liabilities
attributable to the Business, except those expressly identified in Section 2.3(a); 
 (xi) any Tax
obligation of Seller to the extent that such obligation relates to any Tax period or portion thereof ending on or prior to the Closing Date or any Tax obligation of any of the Related Entities; 
 (xii) any Liabilities or Claims associated with that certain litigation
entitied Daniel Carrera, Joel E. Dixon, Ernie M. Hernandez, Michael R. Hernandez and Rafel Tello vs. Commercial Coating Services International, Ltd. and CCSI Management, L.L.C. (US District Court, Southern District of Texas, Houston Division,
Case No. 4:08cv3021) and any Liabilities or Claims relating to or involving allocations of racial or ethnic discrimination, including retaliatory discharges associated with racial or ethnic discrimination, involving CCSI or any of employees of
CCSI; any Liabilities or Claims associated with that certain litigation entitled Annie Stewart v. Bayou Coating, LLC, (19th Judicial District
Court, Parish of East Baton Rouge, Case No. 573135, Section 24); any Liabilities or Claims associated with that certain litigation entitled Enbridge Energy Partners, L.P., Enbridge Energy Company, Inc. (Successors in Interest to
Lakehead Pipe Line Partners, L.P. and Lakehead Pipe Line Company, Inc.) and Enbridge Energy management, L.L.C. v.s Stupp Corporation, Stupp Bros., Inc. and Bayou Coating L.L.C. (266th District Court of Harris County, Texas; Cause No. 2008-13773); 
  

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 (xiii) the one time bonus payment due to Gary L. Brown based on the gross sales
price of certain transactions related to CCSI pursuant to that certain First Amendment to Employment Agreement between Gary L. Brown and CCSI dated January 28, 2008; 
 (xiv) any Tax arising from (1) the ownership of the Purchased Assets, (2) the assumption and incurring of the Assumed
Liabilities or (3) the operation and conduct by Seller or otherwise attributable to, the Business, to the extent any such Tax relates to any Tax period or portion thereof ending on or prior to the Closing Date; and 
 (xv) any Liability under, with respect to, or in connection with, any Tax Sharing Agreement. 
 (c) However, notwithstanding any of the foregoing, Buyer acknowledges that the Purchased Assets include interests in the Related Entities, which
are “going concerns” that have liabilities (“Related Entity Liabilities”), which will continue following the Closing and nothing in this Agreement shall create any direct liability to any party to this Agreement with
respect to those Related Entity Liabilities. 
 Section 2.4 Purchase Price for Purchased Assets. Buyer shall pay or
deliver the following to Seller at the Closing as follows, as adjusted pursuant to Sections 2.5 and 2.6 (the “Purchase Price”): 
 (a) Wire transfer of immediately available Federal funds in the amount of One Hundred Twelve Million Five Hundred Thousand Dollars ($112,500,000) (the “Base Amount”), reduced by the amount of
the Proportional Related Entity Net Debt and the Stupp Payment, to a bank account designated by Seller. At the Closing, Seller shall apply a portion of the Base Amount to repay the obligations under those Excluded Liabilities set forth on
Schedule 2.4(a); and 
 (b) Deliver to the Escrow Agent by wire transfer of immediately available Federal funds the amount of
Twelve Million Five Hundred Thousand Dollars ($12,500,000) (the “Escrow Fund”) pursuant to the terms of the Escrow Agreement in the form attached as Exhibit C among Buyer, Seller and the Escrow Agent (the “Escrow
Agreement”), to be held and disbursed thereafter in accordance with the Escrow Agreement. Subject to any claims made or pending against the Escrowed Fund, the remaining balance of the Escrowed Fund shall be released to Seller in accordance
with the terms of the Escrow Agreement eighteen (18) months after the Closing Date. 
  

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 Section 2.5 Holdback Consideration. 
 (a) In addition to the payment of the amounts set forth in Section 2.4, Buyer shall be entitled to additional amounts of purchase
consideration in such amounts, at such times and based on such requirements as set forth in this Section 2.5 (collectively, such additional amounts are hereinafter referred to as the “Holdback Consideration”).
Schedule 2.5 sets forth the terms and conditions of the Holdback Consideration targets and amounts. 
 (b) Following the
expiration of each applicable calendar year of 2009, 2010 and 2011 (each, a “Holdback Period”), Buyer shall review all necessary records and supporting documents of the Business and, if Buyer shall determine that any portion of the
Holdback Consideration shall be due pursuant to Schedule 2.5, Buyer shall no later than March 16 of the calendar year following any such Holdback Period, deliver to Seller by check or by wire transfer to an account or accounts designated
by Seller, such amount of Holdback Consideration earned. 
 (c) No later than March 16 of the calendar year following a Holdback
Period, Buyer shall provide Seller with records and supporting documents detailing the payment or non-payment of the Holdback Consideration for such Holdback Period. Until April 17 of the calendar year following such Holdback Period, Seller and
its auditors, accountants and other authorized representatives shall, upon prior agreement of the Buyer, which agreement shall not be unreasonably withheld, be given free and full access at Seller’s sole cost and expense during normal business
hours to the financial records of Buyer in order to have a full opportunity to make such investigation as Seller may require to independently calculate the Holdback Consideration for the applicable Holdback Period. 
 (d) If Seller disputes the payment or non-payment of Holdback Consideration for any Holdback Period, Seller shall notify Buyer in writing, and
Buyer and Seller shall promptly commence good faith negotiations for a period of thirty (30) days thereafter with a view to resolving any such dispute. If Buyer and Seller are unable to resolve any such dispute by mutual consent, such dispute
shall be referred to Deloitte Financial Advisory Services LLP (“Independent Accountant”). 
 (e) Buyer and Seller
shall (i) use their respective commercially reasonable efforts to cause the Independent Accountant to render a timely determination within thirty (30) days following submission of the dispute to the Independent Accountant,
(ii) cooperate with the Independent Accountant, and (iii) provide the Independent Accountant with access to such books, records, personnel and other information as the Independent Accountant may deem necessary to render a decision. Buyer
and Seller shall each pay one half of the fees and expenses of the Independent Accountant. 
 (f) The determination of the amount or
payment of any Holdback Consideration shall be (i) rendered in writing and delivered to Buyer and Seller within 30 days after submission of such dispute or as soon thereafter as reasonably practicable as determined by the Independent
Accountant, (ii) final and binding upon the Parties, and (iv) enforceable in any court of competent jurisdiction in the United States. 
  

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 (g) If, as finally determined, Buyer owes Seller any additional Holdback Consideration for a
Holdback Period, then Buyer shall pay the amount to Seller by wiring such amount in immediately available Federal funds to a bank account designated by Seller. If, as finally determined, Seller has received more Holdback Consideration for a Holdback
Period than was due, then Seller shall pay the amount to Buyer by wiring such amount in immediately available Federal funds to a bank account designated by Buyer. Any payment due under Section 2.5 shall be due and payable within five
Business Days following the final determination of the Holdback Consideration. 
 (h) For purposes of determining Consolidated EBITDA,
the expenses of the Seller and the Related Entities will be normalized to exclude any inter company charges and expenses (such as management or consulting fees) that are not currently being incurred to operate the Seller. For the avoidance of doubt,
salaries, bonuses and equity compensation expenses for employees of the Business paid in the ordinary course of business or pursuant to employment agreements shall be an expense for purposes of determining Consolidated EBITDA. Furthermore, when
calculating Consolidated EBITDA for any given Holdback Period, no payment of Holdback Consideration will be subtracted in the calculation of the earnings. The Consolidated EBITDA targets in each of calendar year 2009, 2010 and 2011 as set forth in
Schedule 2.5 shall be appropriately adjusted upward if, at any time after execution of this Agreement, Buyer acquires Equity Securities of any of the Related Entities (other than those Equity Securities of the Related Entities held by Seller
as of the date of this Agreement). 
 Section 2.6 Working Capital Adjustment. 
 (a) The parties have agreed to a target proportionate working capital amount equal to $15,949,000 (“Target Working Capital”).

 (b) No later than ninety (90) days following the Closing Date, Buyer shall deliver to Seller the computation of the
consolidated working capital of Seller as of the close of business on the Closing Date (“Closing Working Capital”), prepared by Buyer based on the principles set forth in Schedule 2.6(b). 
 (c) If Seller disputes the computation of the Closing Working Capital, Seller shall notify Buyer in writing, and Buyer and Seller shall promptly
commence good faith negotiations for a period of thirty (30) days thereafter with a view to resolving any such dispute. If Buyer and Seller are unable to resolve any such dispute by mutual consent, such dispute shall be referred to the
Independent Accountant. 
 (d) Buyer and Seller shall (i) use their respective commercially reasonable efforts to cause the
Independent Accountant to render a timely determination within thirty (30) days following submission of the dispute to the Independent Accountant, (ii) cooperate with the Independent Accountant, and (iii) provide the Independent
Accountant with access to such books, records, personnel and other information as the Independent Accountant may deem necessary to render a decision. Buyer and Seller shall each pay one half of the fees and expenses of the Independent Accountant.

  

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 (e) The determination of the Closing Working Capital by the Independent Accountant shall be
(i) prepared in accordance with GAAP and Schedule 2.6(b), (ii) rendered in writing and delivered to Buyer and Seller within thirty (30) days after submission of such dispute or as soon thereafter as reasonably practicable as
determined by the Independent Accountant, (iii) final and binding upon the Parties, and (iv) enforceable in any court of competent jurisdiction in the United States. 
 (f) If, as finally determined, the Closing Working Capital exceeds the Target Working Capital, then Buyer shall pay the amount of such excess to
Seller by wiring such amount in immediately available Federal funds to a bank account designated by Seller, which shall be deemed to be an increase in the Purchase Price as described in Sections 2.4 and 2.5. If the Target Working Capital
exceeds the Closing Working Capital, then Seller shall pay the amount of such excess to Buyer by wiring such amount in immediately available Federal funds to a bank account designated by Buyer, which shall be deemed to be a decrease in the Purchase
Price described in Sections 2.4 and 2.5. 
 (g) Any payment due under Section 2.6 shall be due and payable within
five Business Days following the final determination of the Closing Working Capital. 
 (h) Any account receivable of Seller which
Buyer determines is uncollectible and for which Seller has not received credit in the working capital calculation, shall be retained by Seller; or if previously transferred to Buyer and Seller received credit in the working capital calculation, such
account receivable shall be reassigned to Seller for collection by Seller to Seller’s benefit and Seller shall pay to Buyer the amount of such reassigned account receivable. If Seller decides to institute or take any action with respect to the
collection of any such receivables, Seller will notify Buyer in advance and will confer in good faith with Buyer with respect to the collection of any such uncollected accounts receivable. 
 Section 2.7 Prorations. With respect to the accrued real property, personal property and other Taxes, utility and similar payments
arising from the ownership or use of the Purchased Assets, the accrued rents and other payments under Assigned Contracts and similar accrued items all as relating to a Straddle Period, Buyer shall be responsible for only the pro rata portion thereof
based upon the number of days in such Straddle Period following the Closing Date as a percentage of the total number of days in such Straddle Period. 
 Section 2.8 Allocation of Purchase Price. Prior to the Closing Date, Buyer and Seller shall agree on Schedule 2.8 (“Allocation Statement”), to be attached to this Agreement,
setting forth the allocation of the Purchase Price among the Acquired Assets, including, without limitation, for purposes of Code section 754 in respect of any Related Entity properly treated as a partnership for federal income tax purposes. Seller
and Buyer agree to allocate such Purchase Price among the Purchased Assets for all purposes (including financial accounting and Tax purposes) in accordance with such Schedule 2.8. Except with respect to any subsequent adjustments to the
Purchase Price (which shall be allocated in the same manner for allocating the Purchase Price as provided in such Schedule 2.8), Buyer and Seller covenant to prepare and file their respective Tax Returns in a manner consistent with such
allocation and not to take any 

  

 21 

 
position in any Tax Return, or examination or other administrative or judicial proceeding relating to any Tax Return, or for financial purposes that is
inconsistent with such allocation. Buyer and Seller each shall file with their federal income Tax Returns an appropriate IRS Form 8594 reflecting such allocation. Payment of any Holdback Consideration is an increase to the Purchase Price and
shall be allocated as a Class VII asset on form 8594. 
 Section 2.9 Closing. The closing of the transactions contemplated
by this Agreement (the “Closing”) shall take place at a location or locations mutually satisfactory to the Parties commencing at 10:00 a.m. local time with an effective time at the close of business (i) on a date mutually
agreeable to Buyer and Seller that is at least five (5) Business Days but not more than ten (10) Business Days after Buyer has notified Seller of the satisfaction or waiver of all conditions to the obligations of the Parties to consummate
the transactions contemplated hereby (other than conditions with respect to actions the respective Parties will take at the Closing itself), or (ii) on such other date as Buyer and Seller may mutually agree in writing (the “Closing
Date”). 
 Section 2.10 Deliveries and Actions at Closing. At the Closing, 
 (a) Seller will deliver to the Buyer Parties the various certificates, instruments and documents referred to in Section 7.1;

 (b) The Buyer Parties will deliver to Seller the various certificates, instruments and documents referred to in
Section 7.2; and 
 (c) Buyer will deliver to Seller and/or the Escrow Agent the Purchase Price as follows: 
 (i) by wire transfer on the day of the Closing and in accordance with Seller’s instructions as to the Base Amount; 

(ii) by wire transfer on the day of the Closing and in accordance with the Escrow Agent’s instructions as to the Escrow
Fund. 
 Section 2.11 Employment Agreements. Concurrent with the execution of this Agreement, the Buyer Parties are
entering into Employment Agreements with James Shea, Jerry Shea and Stewart Shea in forms reasonably acceptable to the Buyer Parties and each of such persons, with the effective date of such Employment Agreements to be the Closing Date. 

Section 2.12 Lease Extension Agreements. Concurrent with the execution of this Agreement, the Buyer Parties are entering into
agreements in the forms attached hereto as Exhibit E with certain of those landlords set forth on Schedule 3.7(l) extending the terms of such leases. 
  

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 ARTICLE III 
 Representations and Warranties of Seller 
 Seller represents and warrants to the Buyer Parties as
follows: 
 Section 3.1 Organization. 
 (a) Seller, BTR and BWW are limited liability companies duly organized, validly existing and in good standing under the laws of the State of Louisiana. BFT is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware. CCSI is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Texas. CCSIM is a limited liability company duly organized,
validly existing and in good standing under the laws of Texas. 
 (b) Seller and the Related Entities (i) have all requisite
organizational power and authority to own, lease and operate their respective properties and to carry on their respective businesses as now conducted, and (ii) are duly qualified or authorized to do business and are in good standing under the
laws of each jurisdiction in which the conduct of their respective businesses or the ownership of their properties as of the date hereof requires such qualification or authorization. 
 Section 3.2 Authorization of Transaction. 
 (a) Seller has full power and authority (including full limited liability company power and authority) to execute, deliver and perform its obligations under this Agreement and the other Transaction Documents.
Seller’s Members have approved the execution, delivery and performance of this Agreement and the other Transaction Documents by Seller. 
 (b) The execution, delivery and performance of this Agreement and the other Transactions Documents have been duly authorized by Seller. This Agreement has been duly executed by Seller. 
 (c) This Agreement and each other Transaction Document to which Seller is or shall be a party, assuming the due authorization, execution and
delivery by each other Party hereto and thereto, constitutes a valid and legally binding obligation of Seller, enforceable against Seller in accordance with its terms and conditions, subject to (i) the effect of any applicable bankruptcy,
reorganization, insolvency, moratorium, fraudulent conveyance or similar laws affecting creditors’ rights generally, (ii) general principles of equity, including concepts of materiality, reasonableness, good faith and fair dealing,
regardless of whether considered in a proceeding in equity or at law, (iii) legal rights of rescission due to a vice of consent, and (iv) the effect of applicable laws or judicial decisions governing the enforceability of non-competition
restrictions. 
 (d) Except as set forth on Schedule 3.2, Seller is not required by applicable Law to give any notice to, make
any filing with, or obtain any Governmental Approval of any Governmental Authority in order to consummate the transactions contemplated by this Agreement. 
  

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 Section 3.3 Non-contravention. Except as set forth on Schedule 3.3, neither the
execution and the delivery of this Agreement and the other Transaction Documents nor the consummation of the transactions contemplated hereby or thereby, will: 
 (a) violate any provision of Seller’s articles of organization, limited liability company agreement or other governing or organizational documents, 
 (b) violate any Law or conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any Person the
right to accelerate (whether after the giving of notice or lapse of time or both), terminate, modify or cancel, or require any notice or Consent under any Assigned Contract or Governmental Approval to which Seller is a party or by which Seller is
bound or to which any of Seller’s assets is subject, or 
 (c) result in the imposition, loss, or creation of a Lien upon, or
with respect to, any of the Purchased Assets, other than Permitted Liens. 
 Section 3.4 Subsidiaries and Affiliates.

 (a) Schedule 3.4(a) sets forth (i) with respect to CCSI, each Person who is a partner of CCSI and the Equity
Securities or percentage interest held by each such partner, and (ii) for each Related Entity that is a limited liability company, each Person who is a member or holder of any Equity Securities and the Equity Securities or percentage interest
held by such Person. Except as set forth on Schedule 3.4(a), there are no subscriptions, calls, warrants, options or commitments of any kind or character relating to, or entitling any Person to purchase or otherwise acquire, any capital stock
or other Equity Securities of any Related Entity. Except as set forth on Schedule 3.4(a), there are no commitments or agreements providing for the issuance of additional Equity Securities of any Related Entity, or for the repurchase or
redemption of Equity Securities of a Related Entity. There are no agreements of any kind that may obligate a Related Entity to issue, purchase, register for sale, redeem or otherwise acquire any Equity Securities of such Related Entity. Except as
set forth on Schedule 3.4(a), there are no voting trusts, partner or member agreements, proxies or other agreements in effect to which Seller or a Related Entity is a party or by which any of them may be bound with respect to the voting or
transfer of Equity Securities of a Related Entity. Copies of the certificate of organization, limited liability company operating agreement, partnership agreement or other governing documents of each Related Entity have been provided or made
available to a Buyer Party and are accurate and complete as of the date hereof. All of the outstanding shares of Equity Securities in the Related Entities have been duly and validly authorized and issued and are fully paid and nonassessable, and
with respect to the Equity Securities of a Related Entity owned by Seller, are free and clear of any Liens or Liabilities other than Permitted Liens and Assumed Liabilities. 
  

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 (b) Except as set forth on Schedule 3.4(b), neither Seller nor any Related Entity owns of
record or beneficially any Equity Securities of any Person or any right (contingent or otherwise) to acquire the same. 
 (c) Except
as set forth in Schedule 3.4(c), neither Seller nor any Related Entity is a member of (nor are any part of their respective businesses conducted through) any partnerships or limited liability companies, and neither Seller nor any Related
Entity is a participant in any joint venture or similar arrangement. With respect to any joint venture or similar arrangement listed on Schedule 3.4(c), copies of the agreements or other documents governing such joint venture or arrangement
have been provided or made available to a Buyer Party and are accurate and complete as of the date hereof. 
 Section 3.5
Sufficiency of Assets. Subject to normal external business conditions, and except as disclosed on Schedule 3.5, the Purchased Assets, together with the rights, goods and services granted or transferred pursuant to this Agreement and
the other Transaction Documents, or, to the Knowledge of Seller to be performed by Seller pursuant to this Agreement and the other Transaction Documents, constitute all of the material assets used or held for use by Seller in the Business, and
outside of the Business workforce no other assets are necessary to operate or conduct the Business as currently conducted. 
 Section 3.6 Certain Assets. 
 (a) Seller owns, leases or has the legal right to use all of the Purchased
Assets, subject to the lessor’s, or any other third party’s, rights in any lease agreement set forth on Schedule 3.8, and further subject to any Permitted Liens. 
 (b) To the Knowledge of Seller, the Related Entities own, lease or have the legal right to use all of their assets used in the Business, subject
to the lessor’s, or any other third party’s, rights in any lease agreement set forth on Schedule 3.8, and further subject to any Permitted Liens. 
 (c) With respect to each Assigned Contract, Seller enjoys the right to the benefits of such Contract in accordance with its terms. Seller owns and has good, marketable, indefeasible and insurable title to, or,
to the extent any leasehold estates, easement estates or license rights are to be transferred or conveyed hereunder, has valid and subsisting estates, easement estates, interests or licensee rights in, the Purchased Assets, free and clear of all
Liens and Liabilities, except for Permitted Liens and Assumed Liabilities, and further subject to the lessor’s, or any other third party’s, rights in any lease agreement set forth on Schedule 3.8. 
 (d) Subject to obtaining the Consents set forth on Schedule 3.6(d), Seller has the full right to convey, transfer, assign and deliver the
Purchased Assets as provided herein. Without limiting the generality of the foregoing, Seller (A) has not granted, or agreed to grant, (1) any ownership interest or right in, or with respect to, any Purchased Asset or (2) any right to
acquire or receive any Purchased Asset or any interest or right therein or with respect thereto, and (B) is not a party to, or bound by, any Contract, other than the Transaction Documents, affecting or relating to a right to transfer any
Purchased Asset (or any interest or right therein or 

  

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with respect thereto) that, in the case of either of foregoing clause (A) or (B), has had, or could reasonably be expected to result in, a Material
Adverse Effect on the ability of Buyer (or its Affiliates) to utilize the Purchased Assets as contemplated by this Agreement and the other Transaction Documents. 
 (e) At the Closing, Seller shall transfer and deliver to Buyer (or its Affiliates), and Buyer (or its Affiliates) shall, receive, the interests and rights of Seller in all Purchased Assets (other than with
respect to the Assigned Contracts requiring any Consent), free and clear of any Lien or Liability, except for Permitted Liens. Without limiting the generality of the foregoing, at the Closing, Seller shall transfer and deliver to Buyer (or its
Affiliates), and Buyer (or its Affiliates) shall receive, valid title to the Facilities owned by Seller, the Personal Property of Seller and all other Purchased Assets, free and clear of any Lien, except for Permitted Liens. 
 (f) Except as set forth on Schedule 3.6(f), the Facilities and all Personal Property of Seller and the Related Entities are in good
operating condition and repair, subject to ordinary wear and tear. 
 (g) Schedule 3.6(g) sets forth a true, correct and
complete list of all Personal Property of Seller and the Related Entities with a book value in excess of $50,000. 
 (h) Except for
the leases set forth on Schedule 3.6(h), none of the Purchased Assets are subject to any material Contract pursuant to which Seller, any Affiliate of Seller, a Related Entity or another Person is a lessee or lessor of, or holds, manages or
operates, any Purchased Asset. Except as set forth on Schedule 3.6(h), neither Seller nor any of the Related Entities, is a party to any material Contract under which: 
 (i) it is a lessee or lessor of, or holds, manages or operates, any property (real or personal) owned by any Person other than
Seller or a Related Entity that is exclusively or primarily used in the operation of, or otherwise in connection with, the Business, or 
 (ii) any property, real or personal, owned by Seller or a Related Entity that is exclusively or primarily used in the operation of, or otherwise in connection with, the Business is held, occupied, operated or
managed by a Person other than Seller or a Related Entity. 
 With respect to each lease set forth on Schedule 3.6(h) pursuant to which Seller or a
Related Entity is described therein as the lessee thereunder, it is the legal owner and holder of the leasehold estates purported to be granted by such lease. 
 (i) Schedule 3.6(i) sets forth a general description of the Owned Real Property of each Related Entity, and the interest of any Related Entity in such Owned Real Property. Seller does not own any Real
Property. 
 (j) Schedule 3.6(j) sets forth a general description of the Leased Real Property of Seller and each Related
Entity, and the interest of Seller and any Related Entity in 

  

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such Leased Real Property. “Sublease” means any lease where Seller or any Related Entity subleases any part of any Leased Real Property to
any Person. All Subleases are listed on Schedule 3.6(j). 
 (k) Schedule 3.6(i) and 3.6(j) set forth all of the real
property in which Seller or any Related Entity holds an interest (as owner, lessee, licensor or otherwise). 
 Section 3.7
Real Property. 
 (a) All of the Real Property is described on Schedules 3.6(i) and 3.6(j). Neither Seller nor any
Related Entity uses or occupies any real estate other than the Real Property. Neither Seller nor any Related Entity has any interest in the Real Property other than as set forth on Schedules 3.6(i) and 3.6(j). No party other than Seller and
the Related Entities use or occupy any part of the Real Property, subject to the terms of any lease of Real Property set forth in Schedule 3.6(h) or 3.7(m). 
 (b) There is no pending or, to the Knowledge of Seller, threatened Proceeding against Seller, any Related Entity or any other party that could materially adversely affect the interest of Seller or any Related
Entity in any of the Real Property, the use, occupancy or operation of the Real Property by Seller or any Related Entity, the Real Property or any portion thereof, or the value or utility of any Facility or any portion hereof, including without
limitation, in eminent domain, for rezoning or otherwise, nor does Seller know of the existence of any fact that could be reasonably likely to give rise to any such Proceeding. 
 (c) The Real Property and the use and occupancy of the Real Property by Seller and the Related Entities comply in all material respects with all
Laws, including without limitation the Americans with Disabilities Act, and all private covenants and indentures and Contracts affecting such Real Property, and neither Seller nor any Related Entity has received any notice that any of the Real
Property does not so comply. The use and occupancy of the Real Property by Seller and the Related Entities is permitted by Laws and all private covenants and indentures and Contracts affecting such Real Property of Seller or Related Entity without
any variance, special use permit or other exception or special proceeding, and Seller’s and Related Entities’ use or occupancy of the Real Property or any portion thereof and the operation of the business as currently conducted is not
dependent on a “permitted non-conforming use” or “permitted nonconforming structure” or similar variance, exemption or approval from any governmental entity. 
 (d) To the Knowledge of Seller, there is no public improvement or special assessment affecting, or that could affect, the Real Property, or any
portion thereof that has resulted in or could result in any charge being levied or assessed against any of the Real Property or in the creation of any Lien against any of the Real Property, or that is or could be payable by Seller or any Related
Entity. 
 (e) To the Knowledge of Seller, there is no plan, study or program in effect by any Governmental Authority to widen, modify
or realign any public street providing access to the Real Property. Seller and the Related Entities have legal and practical vehicular, rail and ship access and rights of ingress and egress to and from all of the Real Property, including to and from
each Facility. 
  

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 (f) There is no commitment or agreement with any Governmental Authority or public or private
utility with respect to any of the Real Property or any other Purchased Asset or any portion of the foregoing that has not been disclosed in writing by Seller to a Buyer Party. 
 (g) To the Knowledge of Seller, there is no mining, mineral or water extraction or development project planned or in progress under the Real
Property or any portion thereof or on or under any other land adjacent thereto that would materially affect (including by subsidence) the Real Property or any other Purchased Asset or any portion of the foregoing. 
 (h) The Real Property and all improvements, buildings, structures, fixtures, building systems and equipment (including the mechanical, plumbing,
heating, sprinkler and fire suppression, electrical and air conditioning systems), and all components thereof, are in good condition and repair and sufficient for the operation of the Business and there are no defects in any of the foregoing, normal
wear and tear excepted. To the Knowledge of Seller, there is no defect or condition of the soil that could materially impair the operation or structural integrity of the Facilities or any portion thereof. 
 (i) All water, oil, gas, electrical, steam, compressed air, telecommunications, sewer, storm and waste water systems and other utility services or
systems for the Real Property and the current operations of the Seller and the Related Entities have been installed within lawful rights of way owned by Seller and are connected to the improvements and Facilities and are operational and sufficient
for the operation of the business of Seller and Related Entities as currently conducted thereon. 
 (j) The Facilities and other
improvements of Seller and the Related Entities are located wholly within the boundaries of the Real Property and no part thereof encroaches onto any adjoining land. 
 (k) Other than Permitted Liens, there are no improvements, fixtures, buildings, structures or fences that are not included as part of the Facilities that are located within or encroach upon the Real Property,
and there are no improvements that are not owned by Seller or any Related Entities located on any of the Real Property or encroaching onto the Real Property. 
 (l) Schedule 3.7(l) identifies each party who is an Affiliate of Seller, or an Affiliate or family member of any of Seller’s Members who is the owner of any Leased Real Property. The parties so
identified in Schedule 3.7(l) as the owner of such parcel of Leased Real Property has good and marketable leasehold title to the Leased Real Property, free and clear of all Liens, except Permitted Encumbrances, and such Leased Real Property
is not subject to any Lien, easement, right-of-way, or building or use restriction, other than Permitted Liens, and there are no outstanding options, rights of first offer or rights of first refusal to purchase such Leased Real Property or any
portion thereof or interest therein. 
  

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 (m) Schedule 3.7(m) contains a list of each of the tenants, including any tenants under any
Subleases, located at any Real Property. 
 (n) All accounts for work and services performed and materials provided or furnished upon
or in respect of the Real Property have been fully paid and satisfied and no Person is entitled to claim any Lien against the Real Property or any part thereof. Except as set forth on Schedule 3.7(n), no material alteration, repair,
improvement or other work has been ordered, directed or requested in writing to be done or performed to or in respect of the Real Property or any Facility which (i) has not been completed and (ii) is not in the Ordinary Course of Business.
Each lease (“Lease”) pursuant to which Seller or any Related Entity has the right of occupancy or use or any interest in any Real Property is legal, valid, binding, enforceable and in full force and effect. 
 (o) There is no default under any Lease or Sublease by any party thereto, and there is no dispute or event that with the passage of time or giving
of notice would be a default under any Lease or Sublease by any party thereto. 
 (p) Neither Seller nor any Related Entity owes, or
will owe in the future, any brokerage commissions or finder’s fees with respect to any Lease or Sublease, and does not owe and will not owe in the future any sums or reimbursements for any improvements or allowances under any Lease or Sublease.

 (q) The other party to any Lease or Sublease is not an Affiliate of, and otherwise, except for payments of rent, does not have any
economic interest in, Seller or any Related Entity. 
 (r) Neither Seller nor any Related Entity has pledged, mortgaged, hypothecated,
assigned, sublet, transferred, or granted any interest in any Lease or Sublease, or any Leased Real Property or any of the improvements thereon. Except as set forth on Schedule 3.7(r), none of the Real Property or any portion thereof is
located in a flood hazard area (as defined by the Federal Emergency Management Agency), or in a wetlands area designated by Federal or state authorities. 
 Section 3.8 Material Contracts. 
 (a) Except for Contracts listed on
Schedule 3.8, there is no Contract to which Seller, or to Seller’s Knowledge, a Related Entity is a Party which is: 
 (i) a Contract with any labor union or association; 
 (ii) a note, loan, credit agreement or other
Contract relating to the borrowing of money (including derivative or hedging instruments) by Seller or the Related Entities in connection with the Business or to the direct or indirect guarantee or assumption by Seller of the obligation of any other
Person related thereto with respect to the Business; 
  

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 (iii) a lease or similar agreement under which Seller or a Related Entity is a
lessee of, or holds or operates, any real property owned by any third party; 
 (iv) a Contract involving future
payment for goods or services by Seller or a Related Entity of more than $50,000 annually; 
 (v) a Contract involving
the obligation of Seller or a Related Entity to deliver in the future goods or services for payment of more than $50,000 annually; 
 (vi) a Contract evidencing any Lien on any of the Purchased Assets (other than Permitted Liens); 
 (vii) an executory Contract for the sale of any of the Purchased Assets or any assets of a Related Entity other than Inventory in the Ordinary Course of Business or for the grant to any Person of any preferential rights to purchase
any Purchased Assets or any assets of a Related Entity other than Inventory in the Ordinary Course of Business; 
 (viii) a Contract for a joint venture, strategic alliance, partnership or sharing of profits, in each case involving equity ownership by Seller or a Related Entity, or a Contract relating to a licensing arrangement or sharing of
proprietary information involving Seller or a Related Entity outside of the Ordinary Course of Business; 
 (ix) a
Contract containing covenants of Seller or a Related Entity not to compete in any line of business or with any Person in any geographical area or not to solicit or hire any Person with respect to employment or covenants of any other Person not to
compete with Seller or a Related Entity in any line of business or in any geographical area or not to solicit or hire any Person with respect to employment; 
 (x) a Contract relating to the acquisition (by merger, purchase of stock or assets or otherwise) by Seller or a Related Entity of
the capital stock or any operating business or material assets (excluding goods and services acquired in the Ordinary Course of Business) of any other Person; or 
 (xi) a Tax sharing agreement. 
 (b) Each Assigned Contract (i) constitutes a valid and binding obligation of Seller or the Related Entities party thereto, subject to legal rights of rescission due to a vice of consent, (ii) is in full force and effect and
(iii) is not terminable by the other party thereto by reason of the transaction contemplated by this Agreement. Seller is not in default under any Assigned Contract. 
  

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 Section 3.9 Intellectual Property and Technology. 
 (a) Except for standard, non-custom, computer software, for which Seller is duly licensed to operate, Seller does not own and is not licensed to
use any patents, trademarks, tradenames, service marks, copyrights, mask works or other intellectual or proprietary rights other than its corporate name which is registered with the Louisiana Secretary of State, a license agreement with Floatec
Deepwater Services, Inc., a copy of which has been provided to Buyer and its unregistered company logo which it has used in the Business since 1998, all of which are identified on Schedule 3.9(a). Except for standard, non-custom, computer
software, for which one or more of the Related Entities is duly licensed to operate, the Related Entities do not own and are not licensed to use any patents, trademarks, tradenames, service marks, copyrights, mask works or other intellectual or
proprietary rights other than their respective corporate names which are registered with the Secretaries of State of their respective States of organization or formation, and the unregistered company logos of CCSI, which has been used in the
Business since 1982, BTR, which has been used in the Business since 1994, BFT, which has been used in the Business since 2000, and BWW which has been used in the Business since 2005, all of which have also been identified on Schedule 3.9(a).

 (b) Except as set forth on Schedule 3.9(b), neither Seller, the Related Entities, nor any of their respective officers or
employees, has any patents issued or patent applications pending for any device, process, method, design or invention of any kind now used or needed by Seller or the Related Entities in the furtherance of the Business operations as currently being
conducted or as currently proposed to be conducted by Seller or the Related Entities. 
 (c) CCSI has Intellectual Property which is
set forth on Schedule 3.9(c). 
 (d) Except as set forth on Schedule 3.9(d), Seller and each Related Entity have full
and valid right, title and interest in, or have valid and continuing rights to use, all of their respective Intellectual Property and Technology, free and clear of all Liens or obligations to others (other than Permitted Liens). Seller has the right
to sell its Intellectual Property and Technology to Buyer, free and clear of all Liens or obligations to others (other than Permitted Liens). Except as set forth on Schedule 3.9(d), there is no action, suit, proceeding, investigation, notice
or complaint pending or, to the Knowledge of Seller, threatened, by any Person before any court or tribunal relating to any Technology or Intellectual Property, nor has any claim or demand been made to Seller that (A) challenges the validity,
enforceability, use or ownership of any Technology or Intellectual Property or (B) alleges that any aspect of the Business infringes or otherwise violates any Person’s right in or to its own intellectual property, nor is there any basis
for any such claim or demand. To Seller’s Knowledge, no Person is infringing any of the Intellectual Property. 
 (e) Schedule
3.9(e) sets forth a complete and accurate list of: (a) all agreements pursuant to which Seller or a Related Entity has licensed a third party for any purpose related to any of the Intellectual Property or Technology; and (b) all
agreements pursuant to which Seller or a Related Entity receives a license from any third party of any intellectual property rights or technology (excluding systems Software used by Seller or a Related Entity on a corporate-wide basis and
off-the-shelf Software) used in connection with the Business. Except as set forth on Schedule 3.9(e) and to the Knowledge of Seller, the 

  

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consummation of the transactions contemplated by this Agreement will not give rise to a right of any counterparty to terminate or limit the rights of Seller,
a Related Entity, Buyer or ITI with respect to any Intellectual Property and/or Technology 
 (f) Seller and each Related Entity has
taken reasonable measures, consistent with practices in their industry, to protect the confidentiality of all trade secrets included in the Intellectual Property and Technology that are material to the Business. Except for disclosures made to
customers, clients, partners or prospects pursuant to non-disclosure agreements as contained in Seller’s data room materials, neither Seller nor a Related Entity has disclosed or provided to any Person (other than an employee under enforceable
obligations of confidence) any confidential or secret material concerning the Intellectual Property or Technology. 
 Section 3.10 Inventories. All of the Inventory, whether raw materials, work in process, finished products or supply and packaging materials, are usable or saleable in the Ordinary Course of Business without discount from
stated value. None of the Inventory is obsolete, damaged or defective, subject only to the reserve for Inventory write-off set forth in the Financial Statements (and not in any notes thereto), as adjusted for the passage of time through the Closing
Date in accordance with the past custom and practice of Seller or a Related Entity with respect to the Business. Such Inventory is fairly reflected in all material respects in the Financial Statements, including all appropriate reserves, and except
as set forth in Schedule 3.10, the Inventory has been valued at the lower of cost or market. At the Closing, the Inventory will be at levels sufficient for Buyer and the Related Entities to conduct the Business in the Ordinary Course of
Business. 
 Section 3.11 Customers and Suppliers. 
 (a) Schedule 3.11(a) sets forth a list of the 20 largest customers and the 20 largest suppliers of Seller and each Related Entity, as
measured by the dollar amount of purchases therefrom or thereby, during each of the years ended December 31, 2006 and 2007 and the nine-month period ended September 30, 2008. 
 (b) Except as set forth on Schedule 3.11(b), neither Seller nor any of the Related Entities is engaged in any material dispute with any
customer or supplier with respect to the Business, and, to the Knowledge of Seller, no customer or supplier representing revenues in excess of $100,000 per year or expenses in excess of $50,000 per year to Seller or a Related Entity with respect to
the Business has indicated that it intends to terminate any Contract, not renew any Contract that provides for automatic renewal, materially reduce its future purchases from or sales to Seller or any Related Entity or otherwise adversely modify its
arrangements with Seller or any Related Entity, in each case with respect to the Business. 
  

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 Section 3.12 Warranties. 
 (a) No material warranty or similar Claim is currently pending against Seller or a Related Entity in connection with the Business. 
 (b) Except as set forth on Schedule 3.12(b), no material amount of goods manufactured, sold and delivered within the past three years in
the Business has failed to be in conformity in all material respects with all product specifications and warranties provided to customers thereof. 
 Section 3.13 Financial Information. Complete and accurate copies of the Financial Statements are set forth in Schedule 3.13. The Financial Statements have been prepared in accordance with GAAP (except as set forth
in Schedule 3.13), accurately reflect the books and records of Seller and each Related Entity in all material respects and present fairly the financial condition of Seller and each Related Entity as of the dates and for the periods set forth
therein. 
 Section 3.14 Absence of Certain Changes; Conduct of Business. 
 (a) Since December 31, 2007, the Business has been conducted in the Ordinary Course of Business and there has not been any Material Adverse
Effect. Except as set forth on Schedule 3.14, since December 31, 2007, neither Seller nor any Related Entity have with respect to the Business or the Purchased Assets: 
 (i) failed to duly comply in all material respects with all applicable Laws and Governmental Approvals, including all Environmental
Laws, applicable to the Business; 
 (ii) failed to maintain and repair the Purchased Assets or any assets of the
Related Entities (including the making of scheduled capital expenditures) in the Ordinary Course of Business; 
 (iii)
created any new Lien on any of the Purchased Assets or any assets of the Related Entities, other than Permitted Liens; 
 (iv) except in the Ordinary Course of Business, waived or released any material right relating to the Purchased Assets, the assets of any Related Entity or the Business; 
 (v) except as required by Law or this Agreement, (i) granted any
severance or termination pay to any Employee, (ii) entered into any Employment Agreement (or any amendment to any such existing agreement) with any Employee, (iii) increased benefits payable under or, except as expressly required by this
Agreement, conditions concerning eligibility to receive benefits under any existing severance or termination pay policies or employment agreements with respect to any Employee, (iv) established, amended or terminated any Benefit Plan, or
(v) increased compensation, bonus or other benefits payable to any Employee, other than, in the case of clauses (i) through (v) above, in the Ordinary Course of Business; 
  

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 (vi) sold, assigned or otherwise transferred, or agreed to sell, assign or
otherwise transfer, any of the Purchased Assets, any assets of a Related Entity, or any of Seller’s or a Related Entities’ interests therein (except for sales of Inventory in the Ordinary Course of Business); 
 (vii) made any change in any accounting principle or costing methodology with respect to the Purchased Assets, any assets of a
Related Entity or the Business, except to the extent required by GAAP; 
 (viii) made any Tax election or settled or
compromised (or agreed to settle or compromise) any Liability for Taxes that would reasonably be expected to materially and adversely affect the Purchased Assets, the assets of a Related Entity or the Business after the Closing; 
 (ix) committed to make a capital expenditure or other addition or improvement to property, buildings and equipment, in each case
that is anticipated to have an outstanding balance in excess of $50,000; 
 (x) except in the Ordinary Course of
Business, created any material Liability with respect to any of the Purchased Assets, the assets of any Related Entity or with respect to the Business that would be an Assumed Liability; 
 (xi) settled any Proceedings involving payment of more than $50,000; 
 (xii) suffered any damage, destruction or other casualty loss (whether or not covered by insurance) affecting the Business, any
Purchased Asset or any assets of a Related Entity which, individually or in the aggregate, has had, or could reasonably be expected to result in, a Material Adverse Effect; or 
 (xiii) except as set forth on Schedule 3.14, written off any accounts receivable or Seller or a Related Entity without
adequate consideration. 
 (b) Except as set forth on Schedule 3.14, since September 30, 2008, no Related Entity has made
any distribution or dividend of cash or other property to its members or partners. 
 Section 3.15 Employees. Schedule
3.15 sets forth a correct and complete list of each Employee of Seller or the Related Entities and such Employee’s name, employee identification number, title, position, hire date, salary or wage rate, target bonus amount and work location.
In addition, Schedule 3.15 includes any Employee or former Employee of Seller or the Related Entities who, in the past ninety days, has been laid off or whose employment has otherwise ended, or whose hours have been reduced by more than 25%
compared to the average hours worked by such Employee or former Employee during the 6 months prior to the diminution of 

  

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hours. For each such Employee or former Employee encompassed within the second sentence of this Section 3.15, Schedule 3.15 includes the
date of any layoff, ending of employment, or diminution of hours, and the reason(s) therefore. 
 Section 3.16 Labor
Issues. There is no strike, work stoppage, walkout, handbilling, picketing or, to the Knowledge of Seller, work slowdown or other “concerted action” involving any Employee. Except as set forth in Schedule 3.16, no Employee is
represented by a union, labor organization or collective bargaining representative, whether or not certified by the NLRB or any other government agency. To the Knowledge of Seller, no representation election petition has been filed by any Employee
or is pending with the NLRB or other government agency, and no union organizing campaign involving or affecting any Employee has occurred, is in progress or is threatened. No unfair labor practice charge (or litigation alleging such claim) has been
filed or, to the Knowledge of Seller, is threatened or is presently pending against Seller or any Related Entity relating to an Employee. No administrative charge has been filed or, to the Knowledge of Seller, is threatened or is pending alleging
any violation of any Laws relating to labor or employment practices, including but not limited to charges of discrimination or complaints of alleged violations of wage and hour, plant closing, occupational safety and health, immigration,
worker’ compensation, or employee leave laws. Neither Seller nor any Related Entity has taken any action that could constitute a “mass layoff’ or “plant closing” within the meaning of the WARN Act or that could otherwise
trigger any notice requirement or material Liability under any local or state plant closing notice Law with respect to the Business, and no such actions are contemplated. Except as set forth in Schedule 3.16, there is no Employment Agreement
between (A) Seller or any Related Entity and (B) any Employee. Seller and each Related Entity, with respect to the Employees, have complied and are in compliance in all material respects with all Laws relating to labor and employment
practices, including all Laws relating to terms and conditions of employment, wages, hours, minimum wages, overtime, employee leave, collective bargaining, workers’ compensation, occupational safety and health, equal employment opportunity and
immigration. 
 Section 3.17 Benefit Plans. 
 (a) Schedule 3.17 sets forth a complete and accurate list of all Benefit Plans in which any Employee participates. There is no Proceeding in progress, pending or, to the Knowledge of Seller, threatened
by the IRS, the Department of Labor or the Pension Benefit Guaranty Corporation with respect to any Benefit Plan (other than routine claims for benefits). All Benefit Plans have been administered in material compliance with their terms and are in
compliance in form and operation in all material respects with the requirements prescribed by applicable Law, and Seller and each Related Entity has performed all material obligations required to be performed by it under, and is not in any material
respect in default under or in violation of, any Benefit Plan. Neither Seller nor any Related Entity has received any written notice that any Benefit Plan is not in compliance with the terms of such Benefit Plan, any collective bargaining agreement
or other Contract, ERISA, any other applicable Law or otherwise and, to the Knowledge of Seller, there is no such non-compliance. 
  

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 (b) Each Benefit Plan intended to be qualified under section 401(a) of the Code has received a
favorable determination letter which covers all amendments to the plan, and nothing has occurred since the date of the most recent determination that could cause any such Benefit Plan or trust to fail to qualify under section 401(a) or 501(a) of the
Code. 
 (c) Except as provided in Schedule 3.17, the transactions contemplated by this Agreement shall not (i) result in
any additional payment (including any severance payment) to, or any benefit accrual under, or (ii) increase any vested interest in, a Benefit Plan or otherwise for any Employee or any dependent of such Employee. 
 (d) None of the Assumed Liabilities is an obligation to make a payment that will not be deductible according to section 280G of the Code.

 (e) Schedule 3.17 sets forth a true, correct and complete list of all agreements and plans (written or oral) providing for
“deferral of compensation” as defined under Section 409A of the Code (and any regulations or other guidance issued by the IRS with respect to Section 409A of the Code) to an Employee or any Person providing services to Seller or
any Related Entity (or would provide for “deferral of compensation” except that the agreement or plan is a “grandfathered” plan or arrangement under Section 409A, or a plan or arrangement exempt from Section 409A under
the “short-term deferral rule” or the “involuntary separation from service rule”). Except as indicated on Schedule 3.17 (i) all agreements and plans have been maintained in good faith compliance with Section 409A
of the Code (and applicable regulations or other applicable guidance issued by the IRS with respect to Section 409A of the Code) or (ii) are grandfathered from, and not subject to, Section 409A of the Code. Prior to December 31,
2008 (1) Seller has amended its deferred compensation Benefit Plan so that it complies, in form, with the requirements of section 409A of the Code, (2) Seller has caused CCSI to amend its deferred compensation Benefit Plan to comply, in
form, with the requirements of section 409A of the Code, and (3) Seller and each Related Entity, to the extent Seller Controls a Related Entity, has amended all employment agreements to comply, in form, with the requirements of section 409A of
the Code. 
 Section 3.18 Litigation. Except as set forth on Schedule 3.18, there is no pending or, to
Seller’s Knowledge, threatened Proceeding, by any Governmental Authority or other Person against Seller or any Related Entity which has resulted or if threatened may result, in (i) the institution of Proceedings to prohibit, enjoin or
restrain the performance in any material respect by Seller of this Agreement or any of the Transaction Documents to which Seller is to be a party, or (ii) a Claim for damages related to the Purchased Assets, the assets of any Related Entity,
the Facilities, the Business or any of the Transaction Documents, in either case, except for any matter involving a claim for damages of less than $50,000. Except as set forth on Schedule 3.18, there are no injunctions or consent decrees
currently in effect against Seller or any Related Entity. 
 Section 3.19 Compliance With Laws. Except as disclosed on
Schedule 3.19 and except with respect to Environmental Laws, which are covered in Section 3.21, (i) neither Seller nor any Related Entity has during the five-year period prior to the date hereof failed to comply with any

  

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Laws applicable to their respective operations with respect to the Business, the Purchased Assets or the assets of each Related Entity which has or would
reasonably be expected to have a Material Adverse Effect, (ii) neither Seller nor any Related Entity has received any notice of or been charged with the violation of any laws with respect to the Business which has not been resolved; and
(iii) neither Seller nor any Related Entity has received notice that it is under investigation with respect to the violation of any Laws with respect to the Business. 
 Section 3.20 Permits. 
 (a) Schedule 3.20(a) sets forth a true, correct and complete list of (i) all material Governmental Approvals and (ii) to the Knowledge of Seller, all Governmental Approvals that are not material (other than, in each
case, Environmental Permits, which are covered in Section 3.21), in each case, held by the Seller or any Related Entity with respect to the Business, the Purchased Assets or the assets of any Related Entity, including the Facilities, as
conducted, owned, held, utilized and operated on the date hereof (the “Business Governmental Approvals”). To the Knowledge of Seller, except for the Business Governmental Approvals set forth on Schedule 3.20(a), there are no
Governmental Approvals that are necessary for the lawful operation of the Business or the ownership or utilization or operation of the Purchased Assets or any assets of a Related Entity, including the Facilities. All of the Business Governmental
Approvals have been issued to Seller or a Related Entity and are in full force and effect, and, to the Knowledge of Seller, there are no reasonable grounds to believe that any such Business Governmental Approval shall not be renewed upon expiration.
Seller and the Related Entities have fulfilled and performed all of their respective material obligations with respect to the Business Governmental Approvals. To the Knowledge of Seller, no event has occurred that allows, or after notice or lapse of
time could allow, revocation or termination of any Business Governmental Approval or results, or after notice or lapse of time could result, in any material adverse effect with respect to the holder of any Business Governmental Approval. 

(b) Except as set forth in Schedule 3.20(b), (i) all of the material Business Governmental Approvals held by Seller (other than
Environmental Permits, which are covered in Section 3.21) are transferable to Buyer without cost or any action on the part of Seller or any other Person or on Buyer’s part, (ii) no material Business Governmental Approval (other
than Environmental Permits, which are covered in Section 3.21) has been revoked or suspended within the preceding five years, (iii) neither Seller nor any Related Entity has been involved in a Proceeding or, to the Knowledge of
Seller, investigation, whether formal or informal, to revoke, suspend, limit or restrict any Business Governmental Approval (other than Environmental Permits, which are covered in Section 3.21) within the preceding five years,
(iv) neither Seller nor any Related Entity has been notified by any Governmental Authority or other Person that there is cause to revoke, suspend, limit or restrict any Business Governmental Approval (other than Environmental Permits, which are
covered in Section 3.21) and (v) to the Knowledge of Seller, no such revocation, suspension, limitation or restriction is threatened by any Governmental Authority. 
 (c) Attached hereto as Schedule 3.20(c) is a list of all currently pending applications of Seller and any Related Entity for material
Governmental Approvals (other than 

  

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Environmental Permits, which are covered in Section 3.21) with respect to the Business, the Purchased Assets or any assets of a Related Entity,
and the current status of all such applications, which list is true, correct and complete. 
 Section 3.21 Environmental
Matters. 
 (a) Except as set forth on Schedule 3.21: 
 (i) Seller and the Related Entities’ operation of the Business has complied and is in compliance with all applicable
Environmental Laws and contractual obligations (including lease provisions applicable to the Real Property) concerning public health and safety, worker health and safety, Hazardous Substances and the Environment. 
 (ii) Seller and the Related Entities have obtained and are in compliance with all Environmental Permits necessary for the lawful
operation of the Business and the Real Property, when and for the time periods such Environmental Permits were and are necessary to the Business. All Environmental Permits are listed in Schedule 3.21 and no investigation or proceeding is
pending or, to the Knowledge of Seller, threatened to modify, revoke or limit any Environmental Permit. Where necessary to obtain timely renewal of any such Environmental Permit, Seller and the Related Entities have applied for renewal of such
Environmental Permit. 
 (iii) Seller and the Related Entities have never received or been subject to any Environmental
Claim, have not received any written or oral notice, report, or other information regarding any pending or threatened Environmental Claim, and there is no basis in law or in fact for any Environmental Claim. 
 (iv) There are no Environmental Conditions caused by Seller or any Related Party, or to the Knowledge of Seller caused by any third
party, at, on, under or emanating to or from the Real Property, any formerly owned or operated property or any other property for which Seller or the Related Entities are liable or responsible under Environmental Laws, the leases, contract or
otherwise. 
 (v) Seller and the Related Entities have never treated, stored, manufactured, processed, distributed,
disposed of, arranged for, caused or permitted the dumping, disposal or other release of any Hazardous Substances at the Real Property, at any formerly owned or operated property or at any other property that has or, if such event were discovered,
will give rise to any Environmental Claim or require Cleanup under Environmental Laws. 
 (vi) Seller and the Related
Entities have not, either expressly or by operation of law, assumed or undertaken any liability or responsibility of another person or entity, (whether or not affiliated with Seller, the Related Entities or their predecessors or Affiliates) for
Cleanup, any Environmental Claim or other liability or responsibility under Environmental Laws. 
  

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 (vii) Neither this Agreement nor the consummation of the transaction contemplated
by this Agreement will trigger or result in (a) any responsibility or obligation for investigation, Cleanup or notification to or consent of Governmental Authority or any other Person; or (b) any requirement to assign or transfer any
Environmental Permit. 
 (viii) Seller and the Related Entities did not own or operate any underground or above ground
tanks containing, or previously containing Hazardous Substances at any Real Property and Seller and the Related Entities did not own or operate any such tanks at any property formerly owned, leased or occupied by Seller or the Related Entities.

 (ix) Neither Seller nor any Related entity have placed any asbestos-containing materials, PCB-containing
transformers, capacitors, hydraulic lifts or other related equipment on the Real Property and no landfills, surface impoundments, or waste disposal areas, located at or on the Real Property. 
 (x) There are no Pre-Closing Environmental Liabilities of Seller and the Related Entities that are not identified on Schedule
3.21. 
 (xi) There are no liens filed or recorded against any Real Property or Leasehold arising under any
Environmental Law and Sellers have not received any notice that any such lien is threatened to be recorded or filed against any Real Property or Leasehold. 
 (xii) There are no recorded or unrecorded restrictions on activities or use of the Real Property or the groundwater beneath the Real Property and there are no recorded or unrecorded covenants or requirements to
install or maintain engineered barriers (such as a concrete or asphalt cap over contaminated media) arising from any Environmental Condition or pursuant to Environmental Laws. 
 (xiii) Seller and the Related Entities have provided the Buyer Parties with true and correct copies of all environmental
assessments, audits, evaluations, studies, and tests in their possession or within their reasonable control relating to the Business, the Real Property, any real property previously owned, leased, or used by or on behalf of Seller or the Related
Entities or have at any time had a legal or beneficial interest. 
 (b) Neither Seller nor the Related Entities have been identified
or listed as a potentially responsible party or a responsible party for Clean or Cleanup Costs under CERCLA or any other applicable Environmental Law, nor has Seller received any information request pursuant to any applicable Environmental Law from
any Governmental Authority, and no portion of the Real Property is listed or, to the Knowledge of Seller, proposed for listing on the National Priorities List or any similar listing under any other Environmental Law. 
  

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 (c) Neither Seller nor the Related Entities have received any written or oral communication from a
Governmental Authority, Person or any citizens’ group, employee or otherwise within the past five years, alleging (i) that any of Seller or Related Entities or any Real Property has violated or is in violation of any Environmental Law or
is liable for any Cleanup of Hazardous Substances or (ii) that the Sellers have any Pre-Existing Environmental Liability. 
 (d)
Seller and the Related Entities have timely filed all material reports, obtained all material Consents and Permits and generated and maintained, and currently generates and maintains, all material Consents, Permits, data, documentation and records
required under applicable Environmental Laws. 
 Section 3.22 Taxes 
 (a) Seller has duly filed or caused to be filed, on or before the due date thereof (determined with regard to extensions disclosed in Schedule
3.22), with the appropriate taxing authority all Tax Returns that it was required to file in respect of Seller, the Purchased Assets and each Related Entity. All such Tax Returns (including any amendment thereto) were correct and complete in all
material respects, and there is no position taken on any Tax Return with respect to the Purchased Assets or the Related Entities for which there is not substantial authority within the meaning of Code section 6662. All Taxes owed by Seller or any
Related Entity (whether or not shown on any Tax Return), and subsequent assessment with respect thereto, have been timely paid. Except as set forth in Schedule 3.22, neither Seller nor any Related Entity currently is the beneficiary of any
extension of time within which to file any Tax Return. Each of Seller and the Related Entities have withheld and paid all Taxes required to have been withheld and paid in connection with amounts paid or owing to any employee, independent contractor,
creditor, stockholder, partner, member or other third party, and all Forms W-2 and 1099 required with respect thereto have been properly completed and timely filed. All Persons retained by Seller or the Related Entities as independent contractors
have been properly qualified as such. 
 (b) There are no liens, attachments, or similar encumbrances on Seller or any Related Entity
with respect to any Taxes, other than any liens for Taxes of Seller or a Related Entity that are not yet due and payable. There are no pending or, to the Knowledge of Seller, threatened audits, investigations, claims, proposals or assessments for or
relating to any Taxes of Seller or any Related Entity. There are no matters under discussion with any governmental authorities with respect to Taxes of Seller or any Related Entity that could result in any additional amount of Taxes with respect to
the Purchased Assets or any Related Entity. 
 (c) Schedule 3.22 lists all federal, state, local, and foreign income Tax
Returns filed with respect to Seller, the Purchased Assets and any Related Entity for taxable periods ended on or after December 31, 2003, indicates those Income Tax Returns that have been audited, and indicates those Income Tax Returns that
currently are the subject of audit. Neither Seller nor any Related Entity has waived any statute of limitations in respect of Taxes or agreed to any extension of time with respect to a Tax assessment or deficiency. There are no requests for rulings
or determinations, or applications requesting permission for a change in accounting practices, in respect of Taxes of Seller or any Related Entity, pending with any governmental authority. 
  

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 (d) Seller has made available to the Buyer Parties correct and complete copies of all federal
income Tax Returns and amendments thereto filed by Seller and each Related Entity since December 31, 2003 and all examination reports and statements of deficiencies received by or agreed to by any of them with respect to federal Income Tax
Returns since December 31, 2003. 
 (e) Neither Seller nor any Related Entity has made any payments, is obligated to make any
payments, or is a party to any agreement that under certain circumstances could obligate it to make any payments that will not be deductible according to Code section 280G. Neither Seller nor any Related Entity is a party to any Tax allocation or
sharing agreement. Neither Seller nor any Related Entity (A) has been a member of an affiliated group filing a consolidated federal Income Tax Return or (B) has any liability for the Taxes of any Person under Reg. §1.1502-6 (or any
similar provision of state, local, or foreign law), as a transferee or successor, by contract, or otherwise. 
 (f) Except as set
forth on Schedule 3.22, Seller is not a party or subject to any joint venture, partnership, or other arrangement or contract that could be treated as a partnership for federal income tax purposes. Neither Seller nor any Related Entity has
been a United States real property holding corporation within the meaning of Code section 897(c)(2) during the applicable periods specified in Code §897(c)(1)(A)(ii). None of the Purchased Assets or the assets of any Related Entity (a) is
property required to be treated as being owned by another person for federal income tax purposes, (b) constitutes “tax-exempt use property” within the meaning of Code section 168(h)(1); (c) is tax-exempt bond financed property
within the meaning of Code section 168(f); (d) are subject to a section 467 rental agreement as defined in Code section 467; or (e) constitute an “amortizable section 197 intangible” within the meaning of Code section 197(c) that
is not amortizable by reason of having been acquired pursuant to the nonrecognition transactions described in Code section 197(f)(2)(B) or the anti-churning rules of Code section 197(f)(9) and the Regulations thereunder, except for any limitations
caused by the actions of Buyer. Seller is not a foreign person within the meaning of Code section 1445. 
 (g) No Related Entity will
be required to include any item of income in, or exclude any item of 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 under Code section 481(c) (or any corresponding or similar provision of state, local or foreign income Tax law); (ii) “closing agreement” as described in Code section 7121 (or any
corresponding or similar provision of state, local or foreign income Tax law) entered into on or prior to the Closing Date; (iii) installment sale made on or prior to the Closing Date; (iv) related party or intercompany transaction or
prepaid amount received on or prior to the Closing Date; or (v) any prepaid amounts received on or prior to the Closing Date. 
  

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 (h) Schedule 3.22 accurately sets forth a list of all states, counties, cities and other
taxing jurisdictions (whether foreign or domestic) to which any Tax is properly payable by Seller and each Related Entity. No claim has ever been made by an authority in a jurisdiction where Seller or any Related Entity does not file Tax Returns
that Seller or any Related Entity is or may be subject to taxation by that jurisdiction. 
 (i) The unpaid Taxes of Seller and each
Related Entity did not, as of the end of the most recently completed fiscal year, exceed the reserve for Tax liability (rather than any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on
the face of the balance sheets of each Seller and Related Entity included in the Financial Statements as of such date (rather than in any notes thereto). 
 (j) Schedule 3.22 properly identifies the proper tax status, as corporation or partnership for federal, state and foreign income tax purposes of each Related Entity and each subsidiary of any Related
Entity and each such entity has been characterized as such since its formation. Except as set forth in Schedule 3.22, each Related Entity that is currently properly treated as a partnership for federal income tax purposes, has in place an
effective Code section 754 election. Each such Related Entity treated as a partnership for federal income tax purposes provides for an allocation of taxable income and loss in the event of any purchase of an interest in such Related Entity as
contemplated by this Agreement using the closing of the books method. 
 (k) Neither Seller nor any Related Entity has engaged in a
“listed transaction” as defined in Regulations section 1.6011-4(b)(2) or a “reportable transaction” within the meaning of Code section 6707A. 
 (l) Neither Seller nor any Related Entity has distributed stock of another Person, or has had its stock distributed by another Person, in a transaction that was purported or intended to be governed in whole or
in part by Code section 355 or section 361. There are no elections made by Seller or any Related Entity in effect pursuant to Code section 338. 
 (m) For purposes of this Section 3.22 and Section 6.4, any reference to “Related Entity” shall include any predecessor thereto. 
 Section 3.23 Insurance. Schedule 3.23 sets forth a true and correct list of the commercial general liability/product liability
and all risk property policies (the “Business Insurance Policies”) held or maintained by or for the benefit of Seller and any Related Entity, including the Business. The Business Insurance Policies are held or maintained, in part,
for the benefit of the Business as of the date hereof. Schedule 3.23 sets forth, for each Business Insurance Policy, the type of policy, the name of the insurer, the amount of coverage, and the effective dates of the policy through which
coverage shall continue by virtue of premiums already paid. To the Knowledge of Seller, there is no claim relating to the Business by Seller or any Related Entity pending under any Business Insurance Policy as to which coverage has been denied or
disputed by the underwriters of such policies. Each Business Insurance Policy is in full force and effect and constitutes the valid and binding obligation of, and is enforceable against, the parties thereto in accordance with its terms. All premiums
with respect to the Business Insurance Policies covering all periods up to and including the Closing Date have been paid and no notice of cancellation or termination has been received with respect to any such policies. 
  

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 Section 3.24 Accounts Receivable. The accounts receivable of Seller and the Related
Entities with respect to the Business reflected on the books and records of Seller and the Related Entities (except to the extent of the allowance for doubtful accounts reflected on the Financial Statements): (i) are valid and existing;
(ii) represent monies due Seller as a result of transactions in the Ordinary Course of Business, including but not limited to amounts attributable to goods sold and delivered or services rendered; and (iii) except as set forth on
Schedule 3.24, are subject to no refunds or other valid adjustments or to any valid defenses or rights of set-off enforceable by third parties on or affecting any thereof. 
 Section 3.25 Transactions with Affiliates. Schedule 3.25 describes all intercompany services and other arrangements, if any,
provided to or on behalf of the Business or any portion thereof by Seller, any Related Entity or any Affiliate of Seller or a Related Entity. Except as disclosed in Schedule 3.25 and except with respect to services and arrangements that are
referenced in or will otherwise be addressed by this Agreement and the other Transaction Documents, the Business does not share any facilities or equipment with any other businesses of Seller, a Related Entity or any of their respective Affiliates,
and no such Person purchases assets or services for, or provide products or services for, the Business. 
 Section 3.26
Records. The copies of the Records of Seller and its Affiliates with respect to the Business which have been made available to a Buyer Party are correct and complete copies. 
 Section 3.27 Broker’s Fee. Neither Buyer, ITI nor any of their respective Affiliates has or shall have any Liability or otherwise
suffer or incur any Loss as a result of, or in connection with, any brokerage or finder’s fee or other commission of any Person retained by Seller or any of its Affiliates in connection with this Agreement or the other Transaction Documents or
any of the transactions contemplated thereby. 
 Section 3.28 Disclosure. No representation or warranty by Seller in this
Agreement or in any Schedule or Exhibit to this Agreement, or any statement, list or certificate furnished or to be furnished by Seller in writing to a Buyer Party pursuant to this Agreement, contains or will contain any untrue statement of material
fact, or omits or will omit to state a material fact required to be stated therein or necessary to make the statements contained therein not misleading in light of the circumstances under which they were made. Without limiting the generality of the
foregoing, the information set forth in the Schedules is accurate and complete in all material respects. 
  

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 ARTICLE IV 
 Representations and Warranties of Buyer and ITI 
 Buyer and ITI represent and warrant to Seller as
follows: 
 Section 4.1 Organization of Buyer and ITI. ITI is a corporation, duly organized, validly existing and in good
standing under the laws of the State of Delaware. Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 
 Section 4.2 Authorization of Transaction. 
 (a) The Buyer Parties have full power
and authority (including full corporate power and authority) to execute, deliver and perform their respective obligations under this Agreement and the other Transaction Documents. 
 (b) The execution, delivery and performance of this Agreement and the other Transaction Documents have been duly authorized by Buyer and ITI. This
Agreement has been duly executed by Buyer and ITI. 
 (c) This Agreement and each other Transaction Document to which Buyer or ITI is
or shall be a party, assuming the due authorization, execution and delivery by each other Party hereto and thereto, constitutes a valid and legally binding obligation of Buyer or ITI, as applicable, enforceable in accordance with its terms and
conditions, subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium, fraudulent conveyance or similar laws affecting creditors’ rights generally and to general principles of equity, including concepts of
materiality, reasonableness, good faith and fair dealing, regardless of whether considered in a proceeding in equity or at law. 
 (d)
Except as set forth on Schedule 4.2, neither Buyer nor ITI is required by applicable Law to give any notice to, make any filing with, or obtain any Governmental Approval of any Governmental Authority in order to consummate the transactions
contemplated by this Agreement. 
 Section 4.3 Non-contravention. Neither the execution and the delivery of this
Agreement, nor the consummation of the transactions contemplated hereby, will (i) violate any Law to which Buyer or ITI is subject or any provision of their certificate of incorporation, certificate of organization, bylaws, operating agreement
or other governing documents, or (ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any Person the right to accelerate (whether after the giving of notice or lapse of time or both),
terminate, modify, or cancel, or require any notice under any Contract to which Buyer or ITI is a party or by which Buyer or ITI is bound or to which any of their respective assets are subject, except those breaches, defaults, violations or
conflicts that individually have not had, and would not reasonably be likely to have a material adverse effect on the ability of Buyer or ITI to consummate timely the transactions contemplated hereby. 
  

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 Section 4.4 Litigation. There is no pending or, to the knowledge of Buyer or ITI,
threatened Proceeding, by any Governmental Authority or other Person which has resulted in (i) the institution of Proceedings to prohibit or restrain the performance by Buyer or ITI of this Agreement or any other Transaction Document to which
Buyer or ITI is a party, or (ii) a Claim for damages as a result of this Agreement or any of the other Transaction Documents, in either case, except for any matter that will not individually have a material adverse effect on the ability of
Buyer or ITI to consummate timely the transactions contemplated hereby. 
 ARTICLE V 
 Pre-Closing Covenants 
 The Parties
agree as follows with respect to the period between the date of execution of this Agreement and the Closing: 
 Section 5.1
General. Each Party will use commercially reasonable efforts to take all actions and to do all things necessary, proper, appropriate or advisable in order to consummate and make effective the transactions contemplated by this Agreement
(including satisfaction, but not waiver, of the Closing conditions set forth in Article 7) or that are reasonably requested by the other Party to carry out the intent of the Parties hereunder and thereunder (including, Seller permitting the
Buyer Parties to discuss and meet, and cooperating in such discussions and meetings (and the preparation therefor), with any of Seller’s customers and suppliers that Buyer or ITI so reasonably requests) and the Buyer Parties discussing and
meeting with the holder of Equity Securities in the Related Entities). 
 Section 5.2 Notices, Assignments and Consents.
If a Contract included in the Purchased Assets is assignable to Buyer without third-party Consent, at the Closing Seller shall assign (or cause the assignment of) such Contract to Buyer pursuant to the Assignment Agreement. If the assignment to
Buyer of any Contract included in the Purchased Assets requires third-party Consent, Seller shall use commercially reasonable efforts to obtain any required third-party Consents. The assignment at the Closing of any Contract that is not assignable
without the consent of a third party shall be handled in accordance with Section 5.8. 
 Section 5.3 Operation of
Business. 
 (a) From the date hereof through the Closing Date, except as may be expressly contemplated by this Agreement and
except as may be consented to in writing by a Buyer Party, Seller shall with respect to the Business and shall cause each Related Entity, to the extent Seller has Control thereof, to: 
 (i) conduct the Business only in the Ordinary Course of Business; and 
 (ii) use its commercially reasonable efforts to preserve the present business operations, organization (including Employees) and
goodwill of Seller and each Related Entity and use commercially reasonable efforts to preserve the present relationships with Persons having business dealings with Seller or a Related Entity with respect to the Business (including customers and
suppliers). 
  

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 (b) Without limiting the generality of the foregoing, during the period from the date of this
Agreement to the Closing Date, except as otherwise provided in this Agreement or as a Buyer Party shall otherwise consent, Seller covenants and agrees that, with respect to the Business, Seller and each Related Entity, to the extent Seller has
Control thereof, shall: 
 (i) preserve and maintain its corporate existence and exercise all reasonable efforts to
preserve and maintain all of its rights, privileges and franchises necessary or desirable in the ordinary conduct of its business, including preserving the relationships with third parties to the Business; 
 (ii) utilize the Purchased Assets and the assets of a Related Entity and conduct the Business as currently utilized and conducted
in the ordinary course of business (including with respect to all interactions with Governmental Authorities); 
 (iii)
exercise all reasonable efforts to keep available to it the goodwill of its customers, suppliers and other Persons with whom business or other relationships exist (including governmental officials) to the end that its goodwill, ongoing business or
other relationships shall not be impaired at or prior to Closing; 
 (iv) exercise all reasonable efforts to maintain
its existing relationships with the Employees; 
 (v) continue to (1) make marketing, advertising, promotional and
other similar expenditures and (2) collect accounts receivable and pay accounts payable and similar obligations, in each case relating to the Business in the Ordinary Course of Business; 
 (vi) duly comply in all material respects with all Laws and Governmental Approvals, including all Environmental Laws, applicable to
the Business; 
 (vii) maintain the Records of Seller and the Related Entities in the Ordinary Course of Business;

 (viii) maintain and repair the Purchased Assets and the assets of each Related Entity (including the making of
scheduled capital expenditures) in the Ordinary Course of Business; 
 (ix) maintain in effect insurance with respect
to the Purchased Assets and the assets of each Related Entity in the Ordinary Course of Business and against risks, with carriers and in amounts (including deductibles) consistent with past practice; 
  

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 (x) maintain Inventory and equipment related to the Business at levels consistent
with the Ordinary Course of Business in accordance with the applicable level of business activities; 
 (xi) not create
any new Lien on any of the Purchased Assets or assets of a Related Entity, other than Permitted Liens; 
 (xii) not
enter into any material Contract or any material amendment, modification or waiver of any existing material Contract outside the Ordinary Course of Business; 
 (xiii) except in the Ordinary Course of Business, not waive or release any material right relating to any Purchased Asset, the
assets of any Related Entity or the Business; 
 (xiv) except in the Ordinary Course of Business, not (A) grant
any severance or termination pay to any Employee, (B) enter into any Employment Agreement (or any amendment to any existing Employment Agreement) with any Employee, (C) increase benefits payable under or, except as expressly required by
this Agreement, conditions concerning eligibility to receive benefits under any existing Benefit Plans or Employment Agreements, (D) establish, amend or terminate any Benefit Plan or (E) increase compensation, bonus or other benefits
payable to any Employee; 
 (xv) not take or fail to take any action that could reasonably be expected to constitute a
material default or an event of default with respect to any of the Assigned Contracts; 
 (xvi) not sell, assign or
otherwise transfer, or agree to sell, assign or otherwise transfer, any of the Purchased Assets or any of Seller’s or the Related Entities’ interests therein (except for sales in the Ordinary Course of Business); 
 (xvii) not make any change in any accounting principle or costing methodology with respect to the Purchased Assets or the Business,
except as may be appropriate to conform to changes in GAAP during such period; 
 (xviii) not make any Tax election or
settle or compromise (or agree to settle or compromise) any Liability for Taxes that would reasonably be expected to materially and adversely affect the Purchased Assets, the assets of any Related Entity or the Business after the Closing;

 (xix) make in a timely fashion all planned capital expenditures with respect to the Facilities and otherwise;

 (xx) not commit to make any capital expenditure or other addition or improvement to property, buildings and
equipment, in excess of $50,000; 
  

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 (xxi) not license any of the Intellectual Property; 
 (xxii) except in the Ordinary Course of Business, not create any material Liability with respect to any of the Purchased Assets,
the assets of any Related Entity or with respect to the Business that would be an Assumed Liability; 
 (xxiii) not
settle or commit to settle any Proceeding relating to the Business involving payment of more than $50,000; 
 (xxiv)
except as required by GAAP, not write off any accounts receivable without adequate consideration; 
 (xxv) neither
collect a receivable nor pay or fail to pay a payable of the Business outside the Ordinary Course of Business; 
 (xxvi) not enter into any Contract or commitment with an Affiliate that relates to the Business if such Contract or commitment would constitute an Assumed Liability; 
 (xxvii) not make distributions or dividends to the holders of Equity Securities of any of the Related Entities (other than Seller),
except to the extent required by the applicable partnership agreement or operating agreement of the Related Entities, and except that CCSI may distribute to its partners amounts which CCSI receives from Seller in repayment of that certain loan
outstanding as of the date hereof made by CCSI to Seller; or 
 (xxviii) not agree, whether in writing or otherwise, to
act or omit to act in violation of any of the foregoing. 
 Section 5.4 Antitrust Approvals. 
 (a) From the date hereof through the Closing Date, the Buyer Parties shall use their commercially reasonable efforts to obtain all Consents
required from any Relevant Competition Authority in order to consummate the transactions contemplated by this Agreement. Seller agrees to cooperate in any such efforts. Buyer and Seller shall split equally all filing fees associated with any
notifications, reports or other filings required by any Relevant Competition Authority. 
 (b) With respect to any filing with any
Relevant Competition Authority, the Buyer Parties, as a Party on the one hand, and Seller as a Party on the other hand, shall: 
 (i) notify the other Party as soon as reasonably practicable (and provide copies or, in the case of non-written material communications, reasonable summaries, except where the notifying Party deems the information contained therein
to be confidential, in which case it will be provided to the notified Party’s legal advisers on a counsel-only basis) of any communications with any such Relevant Competition Authority relating to any such Consent or action; 
  

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 (ii) in response to any agency requests provide the other Party (or where the
notifying Party deems the information contained therein to be confidential, the notified Party’s legal advisers on a counsel- only basis) with a final draft of all submissions, notifications, filings and other communications to any Governmental
Authority at such time as will allow the notified Party (or its advisers) a reasonable opportunity to provide comments and for the notifying Party to take account of any reasonable comments of the notified Party (or its advisers) on such drafts
prior to their submission; 
 (iii) give the other Party reasonable notice of all material meetings and telephone calls
with any Relevant Competition Authority; and 
 (iv) periodically review with the other Party the progress of any
notifications or filings with a view to obtaining clearance from any Relevant Competition Authority at the earliest reasonable opportunity. 
 (c) Notwithstanding anything to the contrary in this Agreement, Seller shall not, with respect to the Business, without Buyer’s and ITI’s prior written consent, commit to any divestitures, licenses, hold separate
arrangements or similar matters, including covenants affecting business operating practices (or allow any Affiliate of Seller to commit to any divestitures, licenses, hold separate arrangements or similar matters). 
 (d) Nothing in this Agreement shall require Buyer, ITI or Seller to accept, as a condition to obtaining any Governmental Approval from a Relevant
Competition Authority or resolving any objection of a Relevant Competition Authority, that Buyer, ITI or Seller, or any of their Affiliates, make or enter into or commit to enter into any divestiture, license, hold separate arrangement or similar
matter, including any covenant affecting business operating practices. 
 Section 5.5 Access to Information. 

(a) Subject to the Confidentiality Agreement and to the extent permitted by applicable Law, for the period prior to the Closing Date (the
“Diligence Period”), Seller shall and shall cause the Related Entities and the respective officers, employees, accountants, auditors and agents of Seller and the Related Entities to, (a) from time to time, upon the reasonable
notice of Buyer or ITI, afford the officers, employees and authorized agents and representatives of Buyer or ITI reasonable access, during normal business hours, to (i) the offices, facilities, properties and the financial, accounting and other
books and records of Seller and the Related Entities regarding the Business, Purchased Assets and Assumed Liabilities or the transactions contemplated by the Transaction Documents and (ii) the appropriate personnel of Seller and the Related
Entities and their respective accountants, auditors and agents and (b) promptly furnish to the officers, employees and authorized agents and representatives of Buyer or ITI such additional financial and operating data and other information
regarding the Business, Purchased Assets and Assumed Liabilities or the transactions contemplated by the Transaction Documents as Buyer or 

  

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ITI may from time to time reasonably request. Subject to applicable Law, the officers, employees or authorized agents or representatives of Buyer or ITI
shall be permitted to make extracts and copies from the financial, accounting and other books and records of Seller and the Related Entities in connection with conducting such due diligence. 
 (b) Prior to the date of this Agreement, the Buyer Parties have performed certain Phase I environmental assessments and Phase II environmental
assessments. After the date of this Agreement, Seller will perform at Seller’s sole cost and expense site characterization activities at Seller’s properties at Baton Rouge, Louisiana and Port of Iberia, Louisiana as part of its activities
pursuant to Section 5.10. Subject to compliance with the provisions of Sections 4 through 7 of those certain Site Access Agreements between the Parties hereto dated December 15, 2008 and December 18, 2008, respectively, the
Buyer Parties and their respective employees, agents and independent contractors shall have the right in their sole discretion to review the proposed scope of work for the site characterization activities and propose reasonable changes thereto which
shall be adopted by Seller and, at the Buyer Parties option, the Buyer Parties may collect split samples of those samples taken by Seller. Further, the Buyer Parties may, in their sole discretion, meet and confer with any Government Authority having
jurisdiction over the Real Property to discuss environmental conditions at the Real Property; provided that either (i) Seller’s representatives shall be present at any such meeting with any Governmental Authority (but with the Buyer
Parties leading any discussions therewith); or (ii) the Buyer Parties may meet with such Governmental Authority without Seller’s representatives being present if the Buyer Parties have agreed prior to such meeting to assume all costs and
expenses for environmental remediation with respect to such Real Property in excess of the maximum liability to Seller set forth in Section 5.10(f). 
 Section 5.6 Exclusivity. During the period beginning on the date of this Agreement and ending on the earlier to occur of (x) the Closing and (y) the termination of this Agreement:

 (a) Seller shall not, and shall not permit any of its Affiliates, directors, officers, Employees, representatives or agents
(collectively, the “Representatives”) to, directly or indirectly, (A) discuss, encourage, negotiate, undertake, initiate, authorize, recommend, propose or enter into, either as the proposed surviving, merged, acquiring or
acquired corporation, any transaction involving a merger, consolidation, business combination, purchase or disposition of any material amount of the Purchased Assets or the assets of any Related Entity other than the transactions contemplated by
this Agreement (an “Acquisition Transaction”), (B) facilitate, encourage, solicit or initiate discussions, negotiations or submissions of proposals or offers in respect of an Acquisition Transaction, (C) furnish or cause
to be furnished, to any Person, any information concerning the Purchased Assets in connection with an Acquisition Transaction, or (D) otherwise cooperate in any way with, or assist or participate in, facilitate or encourage, any effort or
attempt by any other Person to do or seek any of the foregoing. 
 (b) Seller shall (and shall cause its Representatives to)
immediately cease and cause to be terminated any existing discussions or negotiations with any Persons (other than Buyer and ITI) conducted heretofore with respect to any Acquisition Transaction. Seller agrees not to release any third party from the
confidentiality and standstill provisions of any agreement to which Seller is a party. 
  

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 Section 5.7 Notification; Disclosed Matters; Indemnification. Beginning on the date
that is thirty (30) days following the date of this Agreement, continuing every ten (10) days thereafter and ending on the Closing Date (but with a Disclosure Report (as defined below) filed two Business days prior to Closing Date) (even
if less than 10 days has elapsed since the date of the previous Disclosure Report), Seller shall disclose in writing (each, a “Disclosure Report”) to the Buyer Parties any matter arising after the date of this Agreement during the
period covered by a Disclosure Report and known to Seller which would render inaccurate any of the representations, warranties or statements set forth in Article 3 if any of those representations, warranties or statements were made as of
the Closing Date; provided, however, that in the event Seller fails, despite its good faith efforts, to disclose any matter in a Disclosure Report that occurred or arose during the time period covered by such Disclosure Report, Seller shall promptly
disclose such matter to the Buyer Parties. No information provided to Buyer pursuant to this Section 5.7 shall affect or diminish the representations or warranties or statements of Seller, the covenants or agreements of Seller, the
conditions to the Buyer Parties’ obligations under this Agreement or the other Transaction Documents or the right of a Buyer Party to terminate this Agreement, in each case as provided herein. 
 Section 5.8 Nontransferability of Assets. 
 (a) To the extent that any Purchased Asset is not capable of being sold, assigned, transferred, delivered, granted or conveyed or any Assumed Liability is not capable of being assumed, all as contemplated
herein (each, an “Asset/Liability Transfer”), without the Consent of any Person (other than Seller, a Buyer Party or an Affiliate of Seller or a Buyer Party), including any Governmental Authority, or if such Asset/Liability Transfer
or attempted Asset/Liability Transfer would be invalid, would destroy or would eliminate any Purchased Asset or would constitute a breach of any Assigned Contract or a violation of any Law, (i) this Agreement shall not constitute a sale,
assignment, transfer, delivery, grant, conveyance or assumption thereof, or an attempted sale, assignment, transfer, delivery, grant, conveyance or assumption thereof, in the absence of such Consent, and (ii) Seller shall, to the extent
practicable, take all reasonable, lawful and appropriate steps to provide Buyer (or its Affiliate) the respective benefits and burdens of any such sale, assignment, transfer, delivery, conveyance, grant or assumption in accordance with the terms
hereof and the other applicable Transaction Documents. Each Party shall use reasonable efforts to obtain any such Consent. 
 (b) Each
Party undertakes to cooperate in good faith to ensure that it does such acts and things as may be reasonably necessary to complete the transactions contemplated hereby in accordance with the terms hereof, including securing as promptly as
practicable all Consents required to assign any Assigned Contracts, and each Party, on behalf of itself and its applicable Affiliates, shall execute such Consents or other documents as may be necessary. At all times after the date hereof, the
Parties shall do such acts and things as may be reasonably required for the purpose of giving to Buyer in accordance with the terms hereof and the other applicable Transaction Documents the benefit and burden of the Purchased Assets and the 

  

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Assumed Liabilities, including using reasonable efforts in order to obtain the Consent of any necessary third party to such documents and do such acts and
things as may be reasonably required for such purpose. Each Party shall be responsible for all costs incurred by it in connection with or otherwise relating to obtaining a Consent for any Asset/Liability Transfer; provided, that, no Party shall be
required to pay any amounts required by a third party in order for such party to provide a Consent. 
 Section 5.9 Employee
Benefits Plans. 
 (a) Prior to Closing, Seller will make its and the Related Entities’ 2008 employer contributions to the
401(k) Benefit Plan (match and profit sharing). In addition, as soon as practicable after Closing, Seller shall amend such plan to provide for matching contributions on 2009 employee deferrals attributable to compensation earned through the Closing,
without regard to hours worked during such period and shall make such contribution not later than 10 days following Closing. 
 (b)
Prior to Closing, Seller shall amend such 401(k) Benefit Plan as necessary to vest all Employees who incur a termination of employment as a result of the transactions contemplated by this Agreement and, as of the Closing Date, freeze
participation by the Related Entities. 
 (c) Prior to Closing, Seller will initiate a procedure acceptable to Buyer to correct all
defects in such 401(k) Benefit Plan that affect its qualified status to Buyer’s reasonable satisfaction, and indemnify Buyer and the Related Entities after the Closing for any penalties, fines or costs (including attorney fees) relating to
disqualification of the 401(k) Benefit Plan or to any correction necessary or appropriate to maintain and assure the qualified status of such plan, including, but not limited to, correcting discrimination testing failures, plan document failures,
plan investment performance and distribution issues and liability, and any other qualification defects reasonably indentified by Buyer. Such indemnity amount shall be paid without regard to any deductible as set forth in Article VIII. After such
correction, Seller, at the request of Buyer, shall cause such plan to spin off the portions of the plan into a qualified plan consisting of the assets and liabilities relating to BWW and BTR Employees, respectively, in accordance with procedures
agreed upon by the Parties (including valuation of assets). 
 (d) On or prior to Closing, Seller shall pay and shall cause the
Related Entities to pay, all bonuses owed or accrued to Employees. 
 Section 5.10 Environmental Actions. 
 (a) Subject to Section 5.10(f), Seller shall, at its sole cost and expense prior to Closing, undertake all reasonable and necessary
actions to address the matters set forth in Schedule 5.10 relating to the compliance issues identified in the Phase I environmental site assessments conducted at the Real Properties (“Phase I Issues”). If Seller fails to
perform all reasonable and necessary actions to address the Phase I Issues prior to Closing, the Buyer Parties may perform such actions after Closing and all such actions undertaken by Buyer shall be at Seller’s sole cost and expense (subject
to Section 5.10(f)). 
  

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 (b) Subject to Section 5.10(f), Seller shall, at its sole cost and expense, undertake
all reasonable and necessary actions: (1) to conduct an additional soil and groundwater investigation at Seller’s properties at Baton Rouge, Louisiana and Port of Iberia, Louisiana, (2) if necessary as a result of the additional site
investigations, to enroll each property with the Louisiana Department of Environmental Quality (“LDEQ”), Risk Evaluation Corrective Action Program (“RECAP”), and (3) if necessary as a result of the additional
site investigations, to submit an investigation report for each property to LDEQ not later than February 20, 2009. Seller shall provide a copy of all sampling plans, analytical results and draft investigation reports to Buyer. Prior to the
submission of any investigation report to LDEQ, Seller shall obtain Buyer’s consent, which shall not unreasonably be withheld. 
 (c)
If, prior to Closing and based on the investigation reports submitted by Seller pursuant to Section 5.10(b) hereof, if applicable, LDEQ determines that no additional site investigation and/or remedial activities are necessary at both
the Baton Rouge and Port of Iberia properties, Seller shall promptly provide Buyer with a copy of the LDEQ determination and the condition in Section 7.1(r) shall be deemed satisfied. 
 (d) If, on or before February 27, 2009 and based on the investigation reports submitted by Seller pursuant to Section 5.10(b)
hereof, if applicable, LDEQ determines that additional site investigation and/or remedial activities are necessary at either the Baton Rouge or Port of Iberia property, Seller shall promptly provide Buyer with a copy of the LDEQ determination and
the Parties mutually agree to negotiate among themselves: (1) the additional scope of work that will be necessary and the estimated costs associated with conducting such additional work, and (2) whether Seller will agree to conduct such
additional work at its sole cost and expense. In the event that Seller is unwilling (in its sole discretion) to conduct such additional work at its cost and expense, Buyer shall have the option, in its sole discretion: (1) to conduct such
additional work at its sole cost and expense and the condition in Section 7.1(r) shall be deemed satisfied, or (2) to terminate the Agreement. 
 (e) If, on or before February 27, 2009 and based on the investigation reports submitted by Seller pursuant to Section 5.10(b) hereof, if applicable, LDEQ has not yet made any determination
whether additional site investigation and/or remedial activities are necessary at either the Baton Rouge or Port of Iberia property, the Parties mutually agree to negotiate among themselves whether Seller will conduct at its cost and expense any
additional site investigation and/or remedial activities that LDEQ may direct at either the Baton Rouge or Port of Iberia property. In the event that Seller is unwilling (in its sole discretion) to agree to conduct any such additional site
investigation and/or remedial activities that may be directed by LDEQ: (1) Buyer, in its sole discretion, may agree to conduct any such additional work at its sole cost and expense and the condition in Section 7.1(r) shall be deemed
satisfied, or (2) Buyer, in its sole discretion, may terminate the Agreement. 
 (f) Notwithstanding anything contained in this
Section to the contrary, Seller’s maximum liability for costs and expenses in connection with the activities set forth in this Section 5.10, including the Phase I Issues, shall not exceed Two Hundred Fifty Thousand Dollars
($250,000), unless otherwise agreed upon by the Parties. 
  

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 Section 5.11 Real Property Title Issues. Following the execution of this Agreement,
the Buyer Parties will order or have ordered commitments (the “Commitments”) for such Title Insurance Policies (the “Policies”) from Chicago Title Insurance Company (the “Title Company”) and/or
surveys (“Surveys”) from Orin Group with respect to such parcels of Real Property which the Buyer Parties shall deem necessary. Seller shall prior to Closing, and at its sole cost and expense, undertake all actions set forth on
Schedule 5.11 (the “Title Actions”). With respect to those parcels of Real Property identified on Schedule 5.11 for which Commitments have not been obtained as of the date of this Agreement, Buyer shall use its best
efforts to promptly obtain the results of Commitments and/or Surveys prior to Closing. Upon receipt of the results of such Commitments and/or Surveys, the Parties hereto shall use their best efforts to reach a mutually agreeable description of
actions which the Seller shall take at its sole cost and expense to correct and address any title defects or issues identified by Commitments and/or Surveys (“Title Defect Corrections”). Upon such mutual agreement on the Title
Defect Actions, such actions comprising the Title Defect Corrections shall become part of the Title Actions and shall be listed on Schedule 5.11. If the Parties are unable to mutually agree on the Title Defect Corrections, then the Buyer
Parties shall have the option, in their sole discretion, to either: (a) waive the condition to Closing set forth in Section 7.1(s), or (b) terminate this Agreement. If Seller fails to perform all Title Actions prior to Closing,
the Buyer Parties may perform such actions after Closing and all such actions undertaken by Buyer shall be at Seller’s sole cost and expense. 
 ARTICLE VI 
 Post-Closing Covenants 
 The Parties agree as follows with respect to the period following the Closing: 
 Section 6.1
General. In case at any time after the Closing any further action is necessary or desirable to carry out the purposes of this Agreement, each Party will execute and deliver such further instruments and documents as the other Party reasonably
may request, all at the sole cost and expense of the requesting Party (unless the requesting Party is entitled to indemnification therefor under Article 8 below and except as otherwise provided herein). 
 Section 6.2 Employees. The Parties shall effect the discharge and hiring of Employees to Buyer in accordance with the procedures set
forth in Schedule 6.2. Furthermore, Buyer covenants that Buyer shall hire Seller employees in a number sufficient to prevent any post-closing violation of the WARN Act by Seller as to those persons employed by Seller as of the Closing Date.

 Section 6.3 Noncompetition; Nonsolicitation; Confidentiality. 
 (a) Seller agrees that, during the period beginning on the Closing Date and ending on the second anniversary of the Closing Date (the
“Restricted Period”), Seller (and only Seller) shall refrain from carrying on or engaging in a business similar to that of a Competing Business, including but not limited to directly or indirectly providing service or advice to,
operating, lending money to, or acquiring any ownership in any Competing Business. A 

  

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“Competing Business” is any business engaging in the Business within the parishes and counties set forth on Exhibit D where the Buyer
and/or the Related Entities carry on business (collectively, the “Restricted Area”). Seller agrees that the definition of “Business” accurately describes its business and that of the Related Entities and represents and
warrants that Exhibit D accurately lists the parishes and counties in which Seller, and/or the Related Entities have recently conducted business, are currently conducting business, or have a reasonable potential of conducting business. This
restriction does not prohibit Seller from owning up to five percent of a publicly-traded company engaged in such a business provided the investment is passive and Seller does not provide any services or advice to such business or violate any other
terms of this Agreement in connection with such investment. 
 (b) During the Restricted Period, Seller will not, directly or
indirectly, participate in the recruitment, solicitation, or hiring of any employee of the Buyer Parties, the Related Entities and/or their subsidiaries or affiliates (excluding someone employed in a secretarial, clerical, or custodial position) or
discuss with such person his or her leaving the employment of the Buyer Parties, the Related Entities, and/or their respective subsidiaries or affiliates, or engaging in any activity in competition with the Buyer Parties, the Related Entities and/or
their respective subsidiaries or affiliates. Seller will not, directly or indirectly, encourage any person or entity to cease doing business with the Buyer Parties, the Related Entities and/or their respective subsidiaries or affiliates, or to
reduce that person’s or entity’s level of business with the Buyer Parties, the Related Entities or their respective affiliates. 
 (c) During the Restricted Period, Seller will not disparage the Buyer Parties, the Related Entities or their affiliates, any of their present or former employees, directors, officers, or agents, or any of their business plans,
policies, and practices to employees, former employees, members of the public, suppliers, competitors, customers, municipal officials, members of the public, or the media (including but not limited to in any internet posting, publication message
board, or weblog). However, this provision shall not be interpreted to prevent Seller from giving truthful testimony or information to law enforcement entities, administrative agencies, courts, or in any other legal proceedings or governmental
investigation as required by law including, but not limited to, assisting in any investigation or proceeding related to any violation of any rule or regulation of the Securities and Exchange Commission or any other Federal or state securities law.
If Seller does not comply fully with any restriction in this Section after the Closing, the Restricted Period shall be extended for each day that Seller is not in full compliance. 
 (d) From and after the date hereof, Seller shall not, directly or indirectly, disclose, reveal, divulge or communicate to any Person other than
authorized officers, directors and employees of a Buyer Party or use or otherwise exploit for its own benefit or for the benefit of anyone other than a Buyer Party, any Confidential Information (as defined below). Seller shall not have any
obligation to keep confidential any Confidential Information if and to the extent disclosure thereof is specifically required by law; provided, however, that in the event disclosure is required by applicable law, Seller shall, to the extent
reasonably possible, provide the Buyer Parties with prompt notice of such requirement prior to making any disclosure so that a Buyer Party may seek an appropriate protective order. For purposes of this Section 6.3(d), 

  

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“Confidential Information” means any information with respect to the Business, including methods of operation, customers, customer lists,
products, prices, fees, costs, Technology, inventions, trade secrets, Know-How, Software, marketing methods, plans, personnel, suppliers, competitors, markets or other specialized information or proprietary matters. Confidential Information does not
include, and there shall be no obligation hereunder with respect to, information that (A) is generally available to the public on the date of this Agreement; (B) becomes generally available to the public other than as a result of a
disclosure not otherwise permissible thereunder; (C) is necessary to be disclosed in the Ordinary Course of Business to the benefit of the Business; or (D) permitted to be disclosed by a Buyer Party. For the avoidance of doubt, this
Section shall only be binding on Seller and not on Seller’s Affiliates (unless covered by a separate agreement between the Buyer Parties and Seller’s Affiliates). 
 (e) The Parties acknowledge and agree that the time, scope, and other provisions of this Section 6.3 have been specifically negotiated
by sophisticated commercial parties and specifically hereby agree that such time, scope and other provisions are reasonable under the circumstances. The Parties further agree that if, at any time, despite the express agreement of the Parties, a
court of competent jurisdiction holds that any portion of this Section 6.3 is unenforceable because any of the restrictions therein are unreasonable, or for any other reason, such decision shall not affect the validity or enforceability
of any of the other provisions of this Agreement, and the maximum restrictions of time or scope reasonable under the circumstances, as determined by such court, will be substituted for any such restrictions which are held unenforceable. 

(f) Seller acknowledges that money damages will not adequately compensate the Buyer Parties or their respective affiliates for violation of
this Section 6.3 and that such violation will cause or threaten irreparable harm to the Buyer Parties and their affiliates. Upon a proper showing that a violation has occurred or is threatened, a court order enjoining such violation is a
proper remedy in addition to any other remedies or damages available to the Buyer Parties and their affiliates, and the Buyer Parties and their affiliates will not be required to post any bond or undertaking. If Seller breaches any of the provisions
of this Section 6.3, then Seller will pay on demand all costs (including reasonable attorneys’ fees) incurred by a Buyer Party and its affiliates in establishing that breach and in otherwise enforcing any of the provisions of this
Section 6.3, regardless of whether litigation is commenced or prosecuted to a judgment. 
 Section 6.4 Taxes;
Prorations. 
 (a) Tax Returns and Audits. Seller shall cause to be timely paid, before the same shall become delinquent and
before penalties accrue thereon, all Taxes (a) shown (or required to be shown) to be due on any Tax Return (or amendment thereto) filed (or required to be filed) by Seller or any Related Entity with respect to taxable periods ending on or
before the Closing Date or portions of all taxable periods beginning prior to the Closing Date and ending after the Closing Date for that portion of such taxable period up to and including the Closing Date whether such Tax Returns are required to be
filed on, before or after the Closing Date and (b) that become due from, or payable by, Seller or any Related Entity with respect to such periods. All such Tax Returns shall be filed or caused to be filed by Seller and shall be prepared using
accounting methods that were used in preparing the relevant Tax Returns for prior taxable periods. 
  

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 (b) Cooperation and Assistance. From time to time after the Closing, each Party shall
permit reasonable access, and shall cause their respective accountants and other representatives to permit reasonable access to each other, the information that they or their accountants or other representatives have within their control and that
may be reasonably necessary in connection with the preparation of any Tax Return relating to Seller and each Related Entity or the examination by any taxing authority or other administrative or judicial proceeding relating to any Tax Return relating
to Seller and each Related Entity. Seller and Buyer shall retain or cause to be retained, until the applicable statutes of limitations (including any extensions) have expired, copies of all Tax Returns relating to Seller and each Related Entity for
all taxable periods beginning before the Closing Date, together with supporting work schedules and other records or information that may be relevant to such Tax Returns. 
 (c) Certain Tax Matters. Prior to Closing, Seller shall not make or permit to be made in respect of itself or any Related Entity, to the extent Seller has Control thereof, any change in any election,
annual accounting period, adoption of any accounting method, filing of any amended Tax Return, entering into of any closing agreement, settlement of any Tax claim or assessment relating to Seller or any Related Entity, surrender of any claim to a
refund of Taxes, or take or permit any other similar action, or omit to take any action relating to the filing of any Tax Return or the payment of any Tax, if such election, change, amendment, agreement, settlement, surrender, consent or other
action or omission would have the effect of increasing the present or future Tax liability or decreasing any present or future Tax benefit relating to the Purchased Assets, the Related Entities or Buyer, as the case may be. 
 (d) Amended Returns. Following the Closing, Seller shall not amend, cause to be amended, or permit to be amended, any Tax Return relating
to Seller or any Related Entity which could affect the amount of any Taxes for which the Buyer or any Related Entity could be liable subsequent to the Closing without the prior approval of Buyer, which approval shall not be unreasonably withheld.

 (e) Tax Convention. Whenever it is necessary for purposes of the Closing, any indemnification required under this
Section 6.4 or any other provision of this Agreement to determine any liability for Taxes attributable to a taxable period that begins before the Closing Date and ends after the Closing Date (a “Straddle Period”), the
determination as to the portion of such Taxes payable for the period ending on the Closing Date, other than any ad valorem or property Taxes, shall be made by treating the Closing Date as the end of a short taxable year of Seller or the Related
Entity, as the case may be. In making this computation, exemptions, allowances, or deductions calculated on an annual basis, such as the deduction for depreciation, shall be apportioned as provided in the Code. All personal property Taxes which are
past due upon any personal property included among the Purchased Assets or in respect of assets of any Related Entity prior to the Closing Date shall be paid by Seller (or if Seller has objected to such Taxes, Seller shall assume responsibility for
such Taxes), together with any penalty or interest thereon. Current personal property Taxes attributable to the Purchased Assets or in respect of 

  

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assets of any Related Entity for any Straddle Period shall be prorated and adjusted between Seller and Buyer as of the Closing Date on a per diem basis based
on the number of days in the portion of such Straddle Period ending on the Closing Date (“Pre-Closing Period”) and the number of days of such taxable period beginning on the day after the Closing Date (“Post-Closing
Period”). Seller shall be liable for the proportionate amount of such Taxes that is attributable to the Pre-Closing Period, and Buyer shall be liable for the proportionate amount of such Taxes that is attributable to the Post-Closing
Period. If current Tax bills are unavailable at the Closing Date, the prior year’s Tax bills shall be used for proration purposes and when the current year’s Tax bills are received, the proration shall be recalculated and the appropriate
payment shall be made forthwith. 
 (f) Section 754 Election. To the extent no valid Code section 754 election is
effective on the Closing Date in respect of any Related Entity that is properly treated as a partnership for federal income tax purposes, Seller will cause each such Related Entity to make a timely Code section 754 election in order to allow Buyer
and its Affiliates to obtain a pro rata step-up in the tax basis of the assets of such Related Entity attributable to such Buyer or its Affiliates. 
 (g) Transfer Taxes. The Parties shall each pay when due one half of all stamp, transfer, documentary, sales, use, registration and other such taxes and fees, including any taxes and fees related to the transfer of the
Purchased Assets to Buyer (including any penalties and interest) incurred in connection with this Agreement and the transactions contemplated hereby. 
 (h) Termination of Tax Allocation Agreements. Any tax allocation or sharing agreement or arrangement, whether or not written, that may have been entered into between Seller and any Related Entity or with
any Person shall be terminated as of the Closing Date and after the Closing Date neither Buyer, ITI or their respective Affiliates shall be bound thereby or have any liability thereunder; provided, however, that this provision shall not apply in
respect of any Related Entity that is properly treated as a partnership for federal income tax purposes, to the extent tax distributions are to be made by any Related Entity under the existing terms of any applicable operating or partnership
agreement. 
 (i) Miscellaneous. To the extent applicable in respect of any of Seller’s or any Related
Entity’s Employees, Buyer agrees and Seller agrees, or shall cause such Related Entity, to use the alternate procedure set forth in Internal Revenue Service Revenue Procedure 2004-53 with respect to wage reporting. 
 (j) Conflict. In the event of any conflict between the provisions of this Section 6.4 and the provisions of Article
VIII, the provisions of this Section 6.4 shall control. 
 Section 6.5 Further Assurances; Power of
Attorney. 
 (a) Seller and the Buyer Parties agree that after the Closing Date they will hold in trust and will promptly transfer
and deliver to the proper recipient thereto, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their 

  

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commercially reasonable efforts not to convert such checks into cash), correspondence, documents or other property that they may receive on or after the
Closing which properly belongs to the other party, including without limitation, any insurance proceeds, and will account to the other for all such receipts. 
 (b) From and after the Closing Date, Seller shall pay and discharge, in accordance with past practice but not less than on a commercially reasonable timely basis, all accounts payable incurred by Seller on or
prior to the Closing Date in respect of the Business and included in the Excluded Liabilities. It is understood that Assumed Liabilities, which include the current liabilities set forth in the working capital calculations of Section 2.6
are not part of the Excluded Liabilities and therefore Buyer is responsible for the payment thereof. 
 (c) Effective as of the
Closing, Seller hereby appoints the Buyer Parties (or any one of them) as its true and lawful attorney-in-fact for the limited purpose of endorsing with the name of Seller any checks or drafts or other documents of title with respect to vehicles and
accounts receivable which are included in the Purchased Assets. 
 Section 6.6 Environmental Permit Matters. Prior to and
following the Closing, the Parties agree to cooperate and take all actions reasonably necessary to effectuate the transfer of Permits issued pursuant to Environmental Laws or, if the transfer of such Permits is not allowed under Environmental Laws,
the Parties agree to cooperate and take all actions reasonably necessary to obtain new Permits required pursuant to Environmental Laws. 
 Section 6.7 Name Change. Promptly following the Closing Date, Seller shall file with the office of the Louisiana Secretary of State and the Secretary of State of any other jurisdiction where Seller is qualified to do
Business such documentation as necessary to change the name of Seller to a name not similar to The Bayou Companies or the name of any of the Related Entities. 
 ARTICLE VII 
 Conditions to Obligation to Close; Financing and Diligence 
 Section 7.1 Conditions to Buyer’s and ITI’s Obligation. Buyer’s and ITI’s obligation to consummate the
transactions to be performed by any of them in connection with the Closing is subject to satisfaction of each of the following conditions: 
 (a) The representations and warranties set forth in Article 3 shall be true and correct at and as of the Closing Date, as if made on and as of such date; 
 (b) Seller shall have performed and complied with all of its covenants hereunder in all material respects through the Closing, except to the
extent that such covenants are qualified by terms such as “material,” “Material Adverse Change” or “Material Adverse Effect,” in which case Seller shall have performed and complied with all of such
covenants in all respects through the Closing; 
  

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 (c) There shall not be any injunction, judgment, order, decree, ruling, or charge in effect
preventing consummation of any of the transactions contemplated by this Agreement; 
 (d) Seller shall have delivered to the Buyer
Parties a certificate duly executed by an authorized representative to the effect that each of the conditions specified in Sections 7.1(a) and (b) is satisfied in all respects; 
 (e) Seller shall have delivered to the Buyer Parties, the Assignment Agreement, the FIRPTA Affidavit and other appropriate transfer instruments
with respect to the Purchased Assets, each duly executed by Seller and evidencing the transfer of the Purchased Assets and the Assumed Liabilities to Buyer; 
 (f) Seller shall have delivered to the Buyer Parties the Transaction Documents, duly executed by Seller; 
 (g) The Employment Agreements with Jerry Shea, James Shea and Stewart Shea executed on the date of this Agreement shall be in full force and effect; 
 (h) The Parties shall have agreed on the calculation of the Proportional Related Entity Net Debt; 
 (i) Seller shall have executed and delivered to the Buyer Parties a certificate as to: (A) resolutions (or other corporate instruments as applicable) embodying all limited liability company, corporate and partnership actions
taken by and on behalf of such Person to authorize the execution, delivery and performance of this Agreement by such Person; and (B) the incumbency of each officer signing this Agreement or any agreement, document or instrument executed in
connection with this Agreement or the transactions contemplated by this Agreement on behalf of such Person; 
 (j) The Consent of each
Relevant Competition Authority shall have been obtained; 
 (k) The Consent of each Person to Seller’s completion of the
transactions contemplated by this Agreement and to the assignment or transfer by Seller of the Purchased Assets, to the extent required in order for Seller to consummate the transactions contemplated by this Agreement or to assign or transfer the
Purchased Assets, shall have been obtained; 
 (l) Seller shall deliver an executed copy of the Stupp Agreement; 
 (m) The Buyer Parties shall have obtained satisfactory agreements with the holders of Equity Securities of each of the Related Entities regarding
the operation and ownership of the Related Entities after Closing, in the Buyer Parties’ sole discretion; 
 (n) ITI shall have
received approval of the transactions contemplated by this Agreement from its principal lending institutions; 
  

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 (o) The Buyer Parties shall have completed, and shall be satisfied with the results of, their due
diligence review of Seller, the Related Entities, the Business and the Purchased Assets, in their sole discretion and the Parties shall have agreed in good faith on any adjustments to the terms of the transactions contemplated by this Agreement
(including the Purchase Price and the Escrow Fund) as a result of such diligence; 
 (p) The landlords of Seller’s Leased Real
Property will have approved the assignment of such leases to Buyer on terms substantially similar to the current terms; 
 (q) The
holder of any mortgage, deed of trust, ground or master lease, or any other superior right or interest to any Leased Real Property shall provide a non-disturbance agreement satisfactory to the Buyer Parties; 
 (r) Seller shall have (i) completed or made good faith efforts to complete the actions required by Section 5.10(a),
(ii) Seller shall have conducted the additional soil and groundwater investigation required by Section 5.10(b), and (iii) the following shall have occurred: (A) it shall have been determined that it is not necessary to
enroll each property with the LDEQ RECAP or to submit an investigation report for each property pursuant to the requirements of Section 5.10(b), or (B) to the extent that it is necessary that a property be enrolled with the LDEQ
RECAP and/or an investigation report be submitted for a property pursuant to the requirements of Section 5.10(b), then (1) LDEQ shall have determined that no additional site investigation and/or remedial activities are necessary in
accordance with Section 5.10(c), (2) the Parties shall have mutually agreed on the scope of additional work, costs associated therewith and the party responsible for such costs in accordance with Section 5.10(d),
(3) the Parties shall have mutually agreed on any additional site investigation and/or remedial activities that Seller shall conduct following the Closing in accordance with Section 5.10(e), or (4) this clause shall have been
deemed to be satisfied in accordance with Sections 5.10(d) or (e); 
 (s) The Parties shall have reached mutual
agreement on the Title Actions pursuant to Section 5.11; and 
 (t) There shall not have occurred any event which, or any
combination of events which collectively, would or, with the passage of time, would reasonably be expected to have a Material Adverse Effect. 
 The Buyer
Parties may waive any condition specified in this Section 7.1 if they execute a writing so stating at or prior to the Closing. 
 Section 7.2 Conditions to Seller’s Obligation. Seller’s obligation to consummate the transactions to be performed by them in connection with the Closing is subject to satisfaction of each of the following
conditions: 
 (a) the representations and warranties set forth in Article 4 shall be true and correct at and as of the Closing
Date, as if made on and as of such date; 
  

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 (b) The Buyer Parties shall have performed and complied with all of its covenants hereunder in all
material respects through the Closing, except to the extent that such covenants are qualified by terms such as “material,” in which case the Buyer Parties shall have performed and complied with all of such covenants in all respects
through the Closing; 
 (c) There shall not be any injunction, judgment, order, decree, ruling, or charge in effect preventing
consummation of any of the transactions contemplated by this Agreement; 
 (d) The Buyer Parties shall have delivered to Seller a
certificate duly executed by an authorized representative to the effect that each of the conditions specified in Sections 7.2(a) and (b) is satisfied in all respects; 
 (e) Buyer shall have delivered to Seller the Assignment Agreement, evidencing the acceptance of the Purchased Assets and the assumption of the
Assumed Liabilities by Buyer; 
 (f) The Buyer Parties shall have delivered to Seller the Transaction Documents, duly executed by the
applicable Buyer Party; 
 (g) Buyer shall have delivered the Purchase Price, including amounts required to be delivered to the Escrow
Agent; 
 (h) The Buyer Parties shall have executed and delivered to Seller a certificate as to: (A) resolutions embodying all
corporate actions taken by and on behalf of the Buyer Parties to authorize the execution, delivery and performance of this Agreement; and (B) the incumbency of each officer signing this Agreement or any agreement, document or instrument
executed in connection with this Agreement or the transactions contemplated by this Agreement on behalf of the Buyer Parties; and 
 (i) The Consent of each Relevant Competition Authority shall have been obtained. 
 Seller may waive any condition specified in this
Section 7.2 if Seller executes a writing so stating at or prior to the Closing. 
 Section 7.3 Financing. ITI
may immediately terminate this Agreement by written notice to Seller delivered on or before February 20, 2009, in its sole discretion, if ITI shall not by February 20, 2009 have obtained binding or firm commitments securing for ITI the
necessary financing for the transactions contemplated by this Agreement on terms acceptable to ITI in its sole discretion. Upon obtaining any such commitments, ITI shall promptly notify Seller in writing (“Financing Notice”). If ITI
fails to terminate this Agreement by February 20, 2009 in accordance with this Section 7.3, then ITI shall be deemed to have waived such right. If ITI fails to provide Seller with a Financing Notice by February 20, 2009 or if
ITI notifies Seller prior to February 20, 2009 of ITI’s inability to obtain such binding or firm commitments, then Seller may immediately terminate this Agreement on written notice to the Buyer Parties in Seller’s sole discretion.

  

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 Section 7.4 Minority Interests in Related Entities. To the extent that the Buyer
Parties enter into agreements with the holders of Equity Securities of any of the Related Entities to acquire Equity Securities of any of the Related Entities (other than those Equity Securities of the Related Entities held by Seller as of the date
of this Agreement) (collectively, the “Minority Equity Securities”), then Seller hereby consents to the sale of the Minority Equity Securities to a Buyer Party pursuant to the terms of such agreements and the admittance of a Buyer
Party as a limited partner or member (as applicable) of a Related Entity pursuant to the applicable partnership agreement or operating agreement (as applicable) of such Related Entity. Seller hereby waives any rights granted Seller pursuant to any
such partnership agreement or operating agreement (as applicable) to purchase the Minority Equity Securities which arise, or may arise, as a result of the transactions contemplated by such agreement between the Buyer Parties and the holders of the
Minority Equity Securities in the event of the occurrence of the Closing contemplated in this Agreement. 
 ARTICLE VIII 
 Remedies for Breaches of this Agreement 
 Section 8.1 Survival of Representations and Warranties. The representations and warranties of the parties made or provided for in this Agreement shall survive the Closing for a period of eighteen (18) months;
provided, however, that the representations and warranties in Sections 3.1(a) (Organization), 3.2 (Authorization of Transaction), 3.3(a) (Non-Contravention), 3.6(a) (Certain Assets), 4.1 (Organization of Buyer and
ITI), 4.2 (Authorization of Transaction) and 4.3 (Non-Contravention) shall survive indefinitely, and the representations and warranties in Sections 3.17 (Benefit Plans), 3.18 (Litigation), 3.21 (Environmental
Matters) and 3.22 (Taxes) shall survive through the end of the period for the applicable Statute of Limitations (as defined hereinbelow), plus ninety (90) days. The covenants contained in this Agreement shall survive for the lesser of
four (4) years or until they are fully discharged. The representations and warranties in Section 3.9 (Intellectual Property and Technology) shall survive for a period of four (4) years. Claims pursuant to
Section 8.2(iii) which involve Fundamental Excluded Liabilities or which are Liabilities identified in Schedules to Section 3.17 (Benefit Plans), Section 3.18 (Litigation), Section 3.21 (Environmental
Matters) and Section 3.22 (Taxes) and Claims pursuant to Sections 8.4(iii) and 8.4(iv) may be brought through the end of the period for the applicable Statute of Limitations associated therewith. All other Claims pursuant
to Section 8.2 may be brought for a period of eighteen (18) months following the Closing. No Claim for indemnification for breaches of any representation, warranty or covenant may be asserted after the expiration of the applicable survival
period set forth in this Section 8.1. So long as an Indemnified Party asserts a Claim for indemnification under and in accordance with this Article 8 for a breach by another Party of any of its representations, warranties or
covenants contained in this Agreement prior to the expiration of the applicable survival period set forth in this Section 8.1, such Indemnified Party shall be deemed to have preserved its rights to indemnification under this Article
8 regardless of when such Claim is ultimately liquidated or resolved. For purposes of this Section 8.1, the term “Statute of Limitations”, with respect to any indemnity claim 

  

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between the parties hereto seeking reimbursement with regards to a third party claim, shall mean the longer of (i) eighteen (18) months or
(ii) the applicable statute of limitations of the jurisdiction in which a third party claim with regard to which indemnity is sought hereunder is brought by the third party; provided, however, that as to claims between Buyer and Seller not
arising from a third party claim, the term Statute of Limitations shall mean the statute of limitations solely under the laws applicable to this agreement in accordance with Section 10.9 herein. 
 Section 8.2 Indemnification by Seller. Subject to the provisions of this Article 8, Seller agrees to indemnify, defend and hold
harmless Buyer, ITI, their respective Affiliates and their respective officers, directors, representatives and employees (the “Buyer Indemnified Parties”) from and after the Closing, against any and all Claims to the extent such
Claims are based upon, arise out of or are related to (i) a breach of any representation or warranty of Seller set forth in this Agreement or any other Transaction Document, (ii) any failure to perform or comply with any of the covenants,
conditions or agreements of Seller set forth in this Agreement or any other Transaction Document, (iii) any Excluded Liability, or (iv) Seller’s or the Related Entities’ to the extent Seller had Control thereof, conduct of the
Business and ownership of the Purchased Assets prior to Closing. 
 Section 8.3 Limit on Seller’s Indemnity.
Notwithstanding anything to the contrary contained anywhere in this Agreement: 
 (a) Except as set forth in
Section 5.9(c), Seller shall have no obligation to indemnify Buyer Parties pursuant to Section 8.2(i) until Buyer Parties have a Claim or Claims in excess of twenty-five thousand ($25,000) dollars, at which point
Seller’s obligation to indemnify shall apply to such Claims in excess of such amount; 
 (b) Seller’s obligation to
indemnify Buyer Parties pursuant to (i) Section 8.2(i) with respect to a breach of the warranties and representations contained in Sections 3.1(a) (Organization), 3.2 (Authorization of Transaction), 3.3(a)
(Non-Contravention), 3.6(a) (Certain Assets), 3.17 (Benefit Plans), and 3.22 (Taxes), (ii) Section 8.2(iii) with respect to the Fundamental Liabilities other than those described in Sections 2.3(b)(vi)(A),
2.3(b)(vi)(B), 2.3(b)(ix) and 2.3(b)(xii), and (iii) Liabilities identified in the Schedules to Section 3.17 (Benefit Plans) and Section 3.22 (Taxes), shall be limited, in the aggregate, to the Purchase Price;

 (c) Seller’s obligation to indemnify Buyer Parties pursuant to (i) Section 8.2(i) with respect to a breach of any
representations or warranties contained in 3.18 (Litigation) and Section 3.21 (Environmental Matters), and (ii) Section 8.2(iii) with respect to those Fundamental Liabilities described in Sections 2.3(b)(vi)(A),
2.3(b)(vi)(B), 2.3(b)(ix) and 2.3(b)(xii), (iii) Liabilities identified in Schedule 3.18 (Litigation) and Schedule 3.21 (Environmental Matters), shall be limited, in the aggregate, to Fifty Million ($50,000,000) dollars;

 (d) Seller’s obligations to indemnify Buyer for a breach of all other warranties, representations and covenants under this
Agreement shall be limited, in the 

  

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aggregate, to the amount of the Escrow Fund (and all earnings therefrom) and the Holdback Consideration (to the extent Seller becomes entitled to receive the
same) and satisfied therefrom by mutual agreement of the parties or based on a non-appealed judgment from a court of competent jurisdiction; and 
 (e) Seller’s aggregate liability with respect to Claims addressed by Sections 8.3(b), (c) and (d) shall be limited, in the aggregate, to the Purchase Price. 
 Section 8.4 Indemnification by the Buyer Parties. Subject to the provisions of this Article 8, the Buyer Parties agree to
indemnify, defend and hold harmless Seller, its Affiliates and their respective officers, managers, representatives and employees (the “Seller Indemnified Parties”), from and after the Closing, against any and all Claims to the
extent such Claims are based upon, arise out of or are related to (i) a breach of any representation or warranty of a Buyer Party set forth in this Agreement or any other Transaction Document, (ii) any failure to perform or comply with any
of the covenants, conditions or agreements of a Buyer Party set forth in this Agreement or any other Transaction Document, (iii) any Assumed Liability, or (iv) Buyer’s conduct of the Business and ownership of the Purchased Assets,
including Post-Closing Environmental Liabilities, after the Closing Date. 
 Section 8.5 Calculation. The amount of each
Claim shall be determined only after giving credit for the amount of net monetary benefit, including without limitations, insurance coverage (not including any amounts the indemnified party is required to reimburse to such insurer) and any other
payments received by the indemnified party by reason of recompense, contribution, indemnification, or subrogation from any third party, resulting from or attributable to the event, occurrence, state of facts, actions or other circumstance causing or
giving rise to any such Claim. 
 Section 8.6 Indemnification Procedures. 
 (a) If any third party shall notify any Party (the “Indemnified Party”) with respect to any matter (a “Third Party
Claim”) which may give rise to a Claim for indemnification against any other Party (the “Indemnifying Party”) then the Indemnified Party shall promptly (and in any event within 10 Business Days after receiving notice of the
Third Party Claim) notify each Indemnifying Party thereof in writing. The failure to notify the Indemnifying Party promptly of a Third Party Claim shall not relieve the Indemnifying Party from its indemnification obligation hereunder, except to the
extent that the Indemnifying Party is materially prejudiced thereby. 
 (b) Any Indemnifying Party will have the right at any time to
assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party; provided, however, that the Indemnifying Party shall not waive any defense, cause of action or
counterclaim or consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (not to be withheld unreasonably). In the event that the Indemnifying
Party assumes the defense as provided in this Section 8.6, the Indemnified Party shall have the 

  

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right to participate in such defense (including with counsel of its choice), at its own expense, and the Indemnifying Party shall reasonably cooperate with
the Indemnified Party in connection with such participation. In the event that the Indemnified Party shall in good faith determine that the Indemnified Party may have available to it one or more defenses or counterclaims that are inconsistent with
one or more of those that may be available to the Indemnifying Party in respect of any Third Party Claim or any litigation relating thereto, the Indemnified Party shall have the right at all times to take over and assume control over the defense,
settlement, negotiations or litigation relating to any such Third Party Claim at the sole cost of the Indemnifying Party; provided, however, that if the Indemnified Party does so take over and assume control, the Indemnified Party shall not
consent to the entry of any judgment or enter into a settlement with respect to such Third Party Claim without the prior written consent of the Indemnifying Party (not to be withheld unreasonably). 
 (c) Unless and until an Indemnifying Party assumes the defense of the Third Party Claim as provided in Section 8.6(b) above, however,
the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate, on behalf of and for the risk of the Indemnifying Party and the Indemnifying Party shall be liable for the reasonable fees and expenses
of counsel employed by the Indemnified Party for any period during which the Indemnifying Party has not assumed the defense thereof. 
 (d) In no event will the Indemnified Party consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnifying Party (not to be withheld
unreasonably). 
 (e) The Party assuming the defense under this Section 8.6 shall keep the appropriate Parties reasonably
informed regarding the progress and status thereof. 
 (f) In the event any Indemnified Party should have a Claim against any
Indemnifying Party hereunder which does not involve a Third Party Claim, the Indemnified Party shall promptly transmit to the Indemnifying Party a written notice (the “Indemnity Notice”) describing in reasonable detail the nature of
the Claim and the basis of the Indemnified Party’s request for indemnification under this Agreement, provided, however, that failure of the Indemnified Party to give the Indemnity Notice will not relieve the Indemnifying Party from liability
hereunder unless and solely to the extent that the Indemnifying Party did not otherwise learn of such Claim and such failure results in the forfeiture by the Indemnifying Party of substantial rights and defenses, and will not in any event relieve
the Indemnifying Party from any obligations to the Indemnified Party other than the indemnification obligation provided herein. 
 Section 8.7 Escrow Fund. Subject to the limitations set forth in Section 8.3, all liabilities of Seller under this Article 8 (other than Seller’s obligations to indemnify the Buyer Indemnified Parties
pursuant to Sections 8.2(iii)) shall first be paid or reimbursed out of the Escrow Fund. Subject to the limitations set forth in Section 8.3, after exhaustion of the Escrow Fund or upon the release of the Escrow Fund in accordance with
the terms of the Escrow Agreement, any claim for indemnification by the Buyer Indemnified Parties shall be satisfied by Seller or the Holdback Consideration. 
  

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 ARTICLE IX 
 Termination 
 Section 9.1 Termination of Agreement. The Parties may terminate this
Agreement as provided below: 
 (a) The Buyer Parties and Seller may terminate this Agreement by mutual written consent at any time
prior to the Closing; 
 (b) By the Buyer Parties in accordance with Section 5.10 and Section 5.11;

 (c) By ITI or Seller in accordance with Section 7.3; 
 (d) The Buyer Parties or Seller may terminate this Agreement if any Governmental Authority shall have enacted, promulgated or issued any statute,
rule, regulation, ruling, writ or injunction, or taken any other action, restraining, enjoining or otherwise prohibiting the transactions contemplated hereby and all appeals and means of appeal therefrom have been exhausted; 
 (e) The Buyer Parties may terminate this Agreement by giving written notice to Seller at any time prior to the Closing (A) if Seller has
breached any representation, warranty or covenant contained in this Agreement, such breach would result in the Closing condition set forth in Section 7.1(a) or (b) not being met, a Buyer Party has notified Seller of the breach in
writing, and the breach has continued without cure for a period of 30 days after written notice of breach or is incapable of being cured, or (B) if the Closing shall not have occurred on or before February 27, 2009 (with the effective date
occurring on or before February 28, 2009), by reason of the failure of any condition precedent under Section 7.1 or 7.2 hereof (unless the failure results primarily from a Buyer Party itself materially breaching any representation,
warranty or covenant contained in this Agreement); and 
 (f) Seller may terminate this Agreement by giving written notice to Buyer at
any time prior to the Closing (A) if a Buyer Party has breached any representation, warranty or covenant contained in this Agreement, such breach would result in the Closing condition set forth in Section 7.2(a) or
(b) not being met, Seller has notified the Buyer Parties of the breach in writing, and the breach has continued without cure for a period of 30 days after written notice of breach or is incapable of being cured, or (B) if the
Closing shall not have occurred on or before February 27, 2009 (with the effective date occurring on or before February 28, 2009), by reason of the failure of any condition precedent under Section 7.1 or 7.2 hereof
(unless the failure results primarily from Seller materially breaching any representation, warranty or covenant contained in this Agreement and for purposes of this Section 9.1 only, no environmental condition or issue shall be deemed to be
such a breach). 
 Section 9.2 Effect of Termination. Except as set forth in this Section 9.2, if any Party
terminates this Agreement pursuant to Section 9.1 above, all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to any other Party (except for any liability of a Party for a breach which
caused the other Party to terminate this Agreement 

  

 67 

 
pursuant to Section 9.1(e) or (f)); provided, however, that the Confidentiality Agreement and the provisions of this Section 9.2 and
Article 10 shall survive any termination of this Agreement in accordance with their terms. 
 ARTICLE X 
 Miscellaneous 
 Section 10.1 Press Releases and Public Announcements. Prior to the Closing, except as required by applicable Law, including the federal Securities Laws, or listing agreement with any securities exchange, no Party shall,
nor shall any Party permit its Affiliates to, make any public announcement in respect of this Agreement or the transactions contemplated hereby without the prior written consent of the other Parties, which consent shall not be unreasonably withheld
or delayed. The Parties hereto agree that the initial press release to be issued with respect to the transactions contemplated by this Agreement shall be issued jointly by the Parties immediately after the execution of this Agreement. 
 Section 10.2 Expenses. Except as otherwise set forth herein or in the other Transaction Documents, whether or not the transactions
contemplated by this Agreement and the other Transaction Documents shall be consummated, all fees, costs and expenses incurred by or on behalf of a Party or its Affiliate in connection with this Agreement and the other Transaction Documents and the
transactions contemplated hereby and thereby shall be borne by such Party (including all fees of counsel, actuaries, accountants and other consultants and advisors). 
 Section 10.3 No Third-Party Beneficiaries. Except as provided in Sections 8.2 and 8.4, and 9.1, this Agreement shall not confer any rights or remedies upon any Person other than
the Parties and their respective successors and permitted assigns, and nothing contained herein, express or implied, is intended to or shall confer upon any other Person any third-party beneficiary right or any other legal or equitable rights,
benefits or remedies of any nature whatsoever under or by reason of this Agreement other than any Person entitled to indemnification under Section 8.2 or Section 8.4. 
 Section 10.4 Entire Agreement. This Agreement (including the Confidentiality Agreement and the other documents referred to herein)
constitutes the entire agreement between the Parties and supersedes any prior understandings, agreements, or representations by or between the Parties, written or oral, to the extent they relate in any way to the subject matter hereof. 

Section 10.5 Succession and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties named herein
and their respective successors and permitted assigns. No Party may assign either this Agreement or any of its rights, interest or obligations hereunder without the prior written approval of the other Parties; provided, however, that Buyer may
assign any of its rights or obligations under this Agreement to any of its Affiliates upon written notice to Seller, but such assignment shall not constitute a release of Buyer, which shall remain responsible for performing any assigned obligation
in the event the assignee fails to perform such obligation. Any purported assignment or delegation in violation of this Section 10.5 shall be null and void. 
  

 68 

 Section 10.6 Counterparts. This Agreement may be executed in one or more counterparts
(including by means of facsimile), each of which shall be deemed an original but all of which together will constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile shall be
effective as delivery of an originally executed counterpart to this Agreement. 
 Section 10.7 Headings. The section
headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement. 
 Section 10.8 Notices. Any notice, request, demand or other communication required or permitted under this Agreement (each a “notice” for purposes of this Section) shall be in
writing and shall be deemed to have been duly given to and received by a Person (i) on the day such notice is personally delivered to such Person, (ii) on the first Business Day after the day on which the notice is deposited with a
internationally recognized overnight courier service (delivery charges prepaid), or (iii) when received at the applicable facsimile number set forth below when sent by facsimile (with confirmation of transmission), provided that in the case of
clause (ii), the notice is addressed to the intended recipient as set forth below: 
  

			
	If to Seller:	    	The Bayou Companies, LLC
		    	5200 Curtis Lane
		    	New Iberia, Louisiana 70560
		    	Attn: President
		    	Fax: 337-365-9747
		
	With a copy to:	    	Stubbs Law Firm, L.L.C.
		    	The Harding Center
		    	1018 Harding Street, Suite 103
		    	LaFayette, Louisiana 70503
		    	Attn: William Stubbs, Jr., Esq.
		    	Fax: 337-233-9771
		
	If to Buyer:	    	TBC Acquisition Corp.
		    	17988 Edison Avenue
		    	Chesterfield, MO (USA) 63005
		    	Attention: General Counsel
		    	Fax: 636-530-8701
		
	With a copy to:	    	Insituform Technologies, Inc.
		    	17988 Edison Avenue
		    	Chesterfield, MO (USA) 63005
		    	Attention: General Counsel
		    	Fax: 636-530-8701

  

 69 

			
	and to:	    	Thompson Coburn LLP
		    	One US Bank Plaza
		    	St. Louis, Missouri 63101
		    	Attention: Robert LaRose, Esq.
		    	Fax: (314) 552-7068
		
	If to ITI:	    	Insituform Technologies, Inc.
		    	17988 Edison Avenue
		    	Chesterfield, MO (USA) 63005
		    	Attention: General Counsel
		    	Fax: 636-530-8701
		
	With a copy to:	    	Thompson Coburn LLP
		    	One US Bank Plaza
		    	St. Louis, Missouri 63101
		    	Attention: Robert LaRose, Esq.
		    	Fax: (314) 552-7068

 Any Party may change the address to which notices, requests, demands, Claims, and other communications hereunder
are to be delivered by giving the other Party notice in the manner herein set forth. 
 Section 10.9 Governing Law; Venue.

 (a) With regards to all matters relating to (i) the Seller obtaining its Purchase Price consideration, being the consideration
described in Sections 2.4, 2.5 and 2.6 of this Agreement, including but not limited to all matters pertaining to working capital computations, Holdback Consideration calculations, and escrowed matters (“Seller
Consideration Matters”), and (ii) all matters arising between Seller and the Buyer Parties prior to the Closing, this Agreement will be governed by and construed and interpreted in accordance with substantive laws of the state of
Louisiana and each Party hereby irrevocably submits to the jurisdiction of the United States District Court for the Middle District of Louisiana (and any court to which an appeal may be taken therefrom) for purposes of any suit, action or other
proceeding pertaining to the Seller Consideration Matters. 
 (b) All matters pertaining to real property, including any Environmental
Claim with respect thereto, shall be governed by and construed and interpreted in accordance with the substantive laws of the state in which the real property is located (“Real Property Matters”), and each party hereby irrevocably
submits to the jurisdiction of the state or federal court in which the real property pertaining to the Real Property Matters is located (and any court to which an appeal may be taken therefrom) for purposes of any suit, action or other proceeding
pertaining to the Real Property Matters. 
  

 70 

 (c) Other than as set forth in Section 10.9(a) and (b), this Agreement shall be
governed by and construed and interpreted in accordance with the substantive laws of the State of Missouri, without giving effect to any choice of law or conflicts of law provision that would cause the application of the laws of a jurisdiction other
than Missouri and each Party hereby irrevocably submits to the exclusive jurisdiction of the United States District Court, Eastern District of Missouri (and any court to which an appeal may be taken therefrom) for the purposes of any other suit,
action or other proceeding arising out of this Agreement or the subject matter hereof or any of the transactions contemplated hereby brought by either Party. Each Party irrevocably agrees that all Claims in respect of such action or proceeding may
be heard and determined in such federal court and hereby irrevocably waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding any claim that it is not personally subject to the
jurisdiction of the above-named court, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in
or by such court. 
 (d) Each Party consents to the service of process in any suit, action or proceeding by the mailing of copies
thereof to such Party at any time at its address to which notices are to be given pursuant to Section 10.8. Each Party agrees that its submission to jurisdiction and consent to service of process by mail is made for the express benefit
of the other Parties. Final judgment against any Party in any such suit, action or proceeding shall be conclusive, and may be enforced in any other jurisdiction (i) by suit, action or proceeding on the judgment, a certified or true copy of
which shall be conclusive evidence of the fact and the amount of liability of the party therein described or (ii) in any other manner provided by or pursuant to the laws of such other jurisdiction. 
 Section 10.10 Amendments and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in
writing and signed by each of the Parties, and appropriately notarized to the extent required by applicable law. No waiver by any Party of any provision of this Agreement or any default, misrepresentation or breach of warranty or covenant hereunder,
whether intentional or not, shall be valid unless the same shall be in writing and signed by the Party making such waiver, nor shall such waiver be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or
covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. 
 Section 10.11
Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or
enforceability of the offending term or provision in any other situation or in any other jurisdiction. 
 Section 10.12
Construction. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation 

  

 71 

 
arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any
Party by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal, state or local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the
context requires otherwise. The word “including” shall mean including without limitation. 
 Section 10.13
Incorporation of Exhibits, Annexes, and Schedules. The Exhibits and Schedules identified in this Agreement are incorporated herein by reference and made a part hereof. Any disclosure made on any Schedule to this Agreement may be made by
reference to another Schedule to this Agreement. 
 Section 10.14 Specific Performance. Each Party acknowledges and agrees
that the other Parties would be irreparably injured if any of the provisions of this Agreement are not performed in accordance with their specific terms and that money damages may not or would not be an adequate remedy in such event. Therefore, the
non-breaching Party will be entitled to specific performance of this Agreement and injunctive or other equitable relief to prevent breaches of this Agreement and to specifically enforce the provisions hereof. Each Party agrees to waive any
requirement for the securing or posting of any bond in connection with any such remedy. 
 [remainder of page intentionally left blank]

  

 72 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written. 
  

			
	 ITI:
	 	
	
	 INSITUFORM TECHNOLOGIES, INC.

		
	 By
	 	 /s/ J. Joseph Burgess

		
	 Name:
	 	J. Joseph Burgess
		
	 Title:
	 	President & Chief Executive Officer
	
	 BUYER:

	
	 TBC ACQUISITION CORP.

		
	 By
	 	 /s/ J. Joseph Burgess

		
	 Name:
	 	J. Joseph Burgess
		
	 Title:
	 	President & Chief Executive Officer
	
	 SELLER:

	
	 THE BAYOU COMPANIES, LLC

		
	 By
	 	 /s/ James T. Shea

		
	 Name:
	 	James T. Shea
		
	 Title:
	 	Managing Partner

 EXHIBIT A 
 Form of Assignment Agreement 

 EXHIBIT B 
 Form of FIRPTA Affidavit 

 EXHIBIT C 
 Form of Escrow Agreement 

 EXHIBIT D 
  

			
	State	  	County/Parish
	Alabama	  	Franklin
		  	Jefferson
		  	Mobile
		  	Morgan
	Arizona	  	Maricopa
	Arkansas	  	Mississippi
		  	Pulaski
		  	White
	Colorado	  	Adams
		  	Denver
		  	La Plata
	Delaware	  	New Castle
	Florida	  	Collier
		  	Duval
		  	Hernando
		  	Hillsborough
		  	Lee
	Georgia	  	Chatham
	Illinois	  	Cook
		  	Fayette
		  	Gallatin
		  	Macoupin
		  	Madison
	Iowa	  	Dubuque
	Kentucky	  	Barren
		  	Boyd
		  	Daviess
		  	McCracken
	Louisiana	  	Acadia
		  	Allen
		  	Ascension
		  	Assumption
		  	Bienville
		  	Bossier Parish
		  	Caddo
		  	Calcasieu
		  	Cameron
		  	Concordia
		  	Dallas

			
	State	  	County/Parish
		  	East Baton Rouge
		  	Evangeline
		  	Iberia
		  	Iberville
		  	Jefferson
		  	Jefferson Davis
		  	Lafayette
		  	Lafourche
		  	Lincoln
		  	Livingston
		  	Natchitoches
		  	Northumberland
		  	Orleans
		  	Plaquemines
		  	Saint Bernard
		  	Saint Charles
		  	Saint James
		  	Saint Landry
		  	Saint Martin
		  	Saint Mary
		  	Saint Tammany
		  	St. John the Baptist
		  	Tangipahoa
		  	Terrebonne
		  	Vermillion
		  	Washington
		  	West Baton Rouge
	Maryland	  	Anne Arundel
	Massachusetts	  	Jones
		  	Middlesex
		  	Worcester
	Michigan	  	Wayne
	Mississippi	  	Alcorn
		  	Jones
		  	Lamar
		  	Panola
		  	Rankin
		  	Sharkey
		  	Stone
		  	Union
		  	Waco
		  	Wayne

			
	State	  	County/Parish
	Missouri	  	St. Louis
	Montana	  	Fallon County
	New Jersey	  	Bergen
	New Mexico	  	Eddy
		  	Lea
		  	McKinley
		  	San Juan
	New York	  	New York
	North Carolina	  	Mecklenburg
	North Dakota	  	Renville
		  	Williams
	Ohio	  	Franklin
		  	Hancock
		  	Trumbull
	Oklahoma	  	Carter
		  	Oklahoma
		  	Pittsburg
		  	Tulsa
	Pennsylvania	  	Beaver
		  	Bedford
	Tennessee	  	Wilson
	Texas	  	Anderson
		  	Aransas
		  	Brazos
		  	Brooks
		  	Carter
		  	Chambers
		  	Collin
		  	Ector
		  	Fort Bend
		  	Freestone
		  	Galveston
		  	Gregg
		  	Harris
		  	Hidalgo
		  	Jasper
		  	Jefferson
		  	Jim Wells
		  	Johnson
		  	Leon
		  	Liberty
		  	Montgomery

			
	State	  	County/Parish
		  	Morris
		  	Neuces
		  	Orange
		  	Panola
		  	Robertson
		  	Rusk
		  	San Patricio
		  	Smith
		  	Tyler
		  	Victoria
		  	Webb
	Washington	  	King
	West Virginia	  	Kanawha

 EXHIBIT E 
 Form of Lease Extension AgreementAgreement and Plan of Merger

 Exhibit 10.2 
 EXECUTION COPY 
 AGREEMENT AND PLAN OF MERGER 
 BY AND AMONG 
 INSITUFORM TECHNOLOGIES, INC., 
 FIRST DOWN ACQUISITION CORPORATION 
 and 
 CORRPRO COMPANIES, INC. 
 Dated as of February 1, 2009 

 TABLE OF CONTENTS 
  

							
	Article 1 Defined Terms	  	1
		
	Article 2 The Merger	  	13
		 	2.1	 	The Merger	  	13
		 	2.2	 	The Closing	  	13
		 	2.3	 	Effective Time	  	13
		 	2.4	 	Effect of the Merger	  	13
		 	2.5	 	Articles of Incorporation; Bylaws	  	14
		 	2.6	 	Directors and Officers	  	14
		
	Article 3 Effect on Equity Interests; Exchange of Certificates	  	14
		 	3.1	 	Effect on Equity Interests	  	14
		 	3.2	 	Closing Date Company Debt Adjustment.	  	15
		 	3.3	 	Closing Date Company Transaction Expenses Adjustment	  	15
		 	3.4	 	UK Pension Purchase Price Adjustments	  	16
		 	3.5	 	Payment and Exchange of Certificates	  	17
		 	3.6	 	Convertible Securities	  	19
		 	3.7	 	Dissenting Shareholders	  	20
		
	Article 4 Company Representations and Warranties	  	20
		 	4.1	 	Organization and Qualification; Subsidiaries	  	20
		 	4.2	 	Capitalization	  	21
		 	4.3	 	Authority	  	22
		 	4.4	 	No Conflict; Required Filings and Consents	  	23
		 	4.5	 	Permits; Compliance with Law	  	23
		 	4.6	 	Public Reports; Financial Statements	  	24
		 	4.7	 	Absence of Certain Changes or Events	  	25
		 	4.8	 	Employee Benefit Plans; Labor and Employment Matters	  	26
		 	4.9	 	Contracts	  	31
		 	4.10	 	Litigation	  	32
		 	4.11	 	Environmental Matters	  	32
		 	4.12	 	Intellectual Property	  	34
		 	4.13	 	Taxes	  	35
		 	4.14	 	Brokers	  	38
		 	4.15	 	Real Properties	  	38
		 	4.16	 	Accounts Receivable	  	41
		 	4.17	 	Warranties	  	41
		 	4.18	 	Customers and Suppliers	  	41
		 	4.19	 	Inventory	  	41
		 	4.20	 	Certain Assets	  	41
		 	4.21	 	Insurance	  	42
		 	4.22	 	Transactions with Affiliates	  	42
		
	Article 5 Representations and Warranties of Parent and Merger Sub	  	42
		 	5.1	 	Organization and Qualification; Subsidiaries	  	42
		 	5.2	 	Authority	  	42
		 	5.3	 	No Conflict; Required Filings and Consents	  	43
		 	5.4	 	Ownership of Merger Sub; No Prior Activities	  	43
		 	5.5	 	Financing	  	44

  

 i 

							
		 	5.6	 	Company Stock	  	44
		 	5.7	 	Brokers	  	44
		
	Article 6 Covenants	  	44
		 	6.1	 	Conduct of Business by the Company Pending the Closing	  	44
		 	6.2	 	Company Shareholders Meeting; Board Recommendation; Voting Agreement of CorrPro Investments LLC	  	46
		 	6.3	 	Access to Information; Confidentiality	  	47
		 	6.4	 	No Solicitation	  	48
		 	6.5	 	Appropriate Action; Government Consents; Filings	  	49
		 	6.6	 	Certain Notices	  	50
		 	6.7	 	Indemnification and Insurance	  	50
		 	6.8	 	Employees; Employee Benefits	  	51
		 	6.9	 	Reasonable Efforts; Cooperation	  	52
		 	6.10	 	Public Announcements	  	52
		 	6.11	 	Financing	  	52
		 	6.12	 	Tax Matters.	  	53
		 	6.13	 	Repayment of Larkin Notes	  	54
		 	6.14	 	Company 401(k) Savings Plan	  	54
		 	6.15	 	SEC Filings	  	54
		 	6.16	 	Termination of Wingate Agreement	  	54
		 	6.17	 	Vesting	  	54
		
	Article 7 Closing Conditions	  	54
		 	7.1	 	Conditions to Obligations of Each Party under this Agreement	  	54
		 	7.2	 	Additional Conditions to Obligations of Parent and Merger Sub	  	55
		 	7.3	 	Additional Conditions to Obligations of the Company	  	56
		
	Article 8 Termination, Amendment and Waiver	  	57
		 	8.1	 	Termination	  	57
		 	8.2	 	Effect of Termination; Limitation on Liability	  	58
		 	8.3	 	Amendment	  	59
		 	8.4	 	Waiver	  	59
		 	8.5	 	Fees and Expenses	  	59
		
	Article 9 non Survival of Representations and Warranties; covenants; no indemnification	  	59
		 	9.1	 	Survival of Representations, Warranties and Covenants	  	59
		
	Article 10 General Provisions	  	60
		 	10.1	 	[Intentionally Omitted]	  	60
		 	10.2	 	Notices	  	60
		 	10.3	 	Headings	  	60
		 	10.4	 	Severability	  	60
		 	10.5	 	Entire Agreement	  	61
		 	10.6	 	Assignment	  	61
		 	10.7	 	Parties in Interest	  	61
		 	10.8	 	Mutual Drafting	  	61
		 	10.9	 	Governing Law; Consent to Jurisdiction; Waiver of Trial by Jury	  	61
		 	10.10	 	Execution	  	62
		 	10.11	 	Remedies Cumulative; Specific Performance	  	62
		 	10.12	 	Interpretation	  	62
		 	10.13	 	Company Disclosure Letter	  	63

  

 ii 

 Exhibit List 
 Exhibit A – Certificate of Merger 
 Exhibit B – Form of Closing Certificate of the Company 
 Exhibit C – Form of Closing Certificate of Parent 
 Exhibit D – Form
of Closing Certificate of Merger Sub 
 Schedule List 
 Schedule A – Loan Agreements 
 Schedule B – Series B Liquidation Amount 
 Schedule C – Third Party Consents 
  

 iii 

 AGREEMENT AND PLAN OF MERGER 
 AGREEMENT AND PLAN OF MERGER, dated as of February 1, 2009 (this “Agreement”), by and among Insituform Technologies, Inc., a
Delaware corporation (“Parent”), First Down Acquisition Corporation, an Ohio corporation and a direct wholly owned subsidiary of Parent (“Merger Sub”), and Corrpro Companies, Inc., an Ohio corporation (the
“Company”). 
 WHEREAS, the respective Boards of Directors of Parent, Merger Sub and the Company have each approved, adopted
and declared advisable this Agreement and the merger of Merger Sub with and into the Company (the “Merger”) upon the terms and subject to the conditions set forth herein and in accordance with the General Corporation Law of the
State of Ohio (the “OGCL”) and each other applicable jurisdiction; and 
 WHEREAS, the respective Boards of Directors of
Parent, Merger Sub and the Company have each determined that the Merger is in furtherance of and consistent with their respective business strategies and is fair to, and in the best interest of, their respective shareholders; and 
 WHEREAS, Parent, Merger Sub and the Company desire to make certain representations, warranties, covenants and agreements in connection with the Merger
and also prescribe various conditions to the Merger; 
 NOW, THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants and agreements set forth in this Agreement and intending to be legally bound hereby, the parties hereto agree as follows: 
 ARTICLE 1 
 DEFINED TERMS 
 For purposes of this Agreement, the term: 
 “$1.25 Option Shares” means the shares subject
to Company Options with a $1.25 Liquidity Event Trigger Price. 
 “$1.75 Option Shares” means the shares subject to Company
Options with a $1.75 Liquidity Event Trigger Price. 
 “$2.25 Option Shares” means the shares subject to Company Options
with a $2.25 Liquidity Event Trigger Price. 
 “Acquirors” means collectively, the Parent and the Merger Sub. 
 “Acquisition Proposal” means any agreement, offer or proposal (other than this Agreement, the Merger, or any other offer or proposal by
Parent) relating to or involving (i) any direct or indirect acquisition or purchase from the Company or Company Subsidiaries or any acquisition by any Person or Group of a majority interest in the total outstanding voting securities of the
Company or any Company Subsidiary or any tender offer or exchange offer that if consummated would result in any Person or Group beneficially owning a majority of the total outstanding voting securities of the Company or any Company Subsidiary,
(ii) any merger, consolidation, business combination or similar transaction involving the Company or Company Subsidiaries, or (iii) any sale, lease, mortgage, pledge, exchange, transfer, license, acquisition or disposition of a majority of
the consolidated assets of the Company and the Company Subsidiaries in any single transaction or series of related transactions (other than in the ordinary course of business). 
  

 1 

 “Adjusted Purchase Price” means the amount obtained as follows: (i) Purchase Price
, (ii) less the amount of the Closing Date Company Debt Adjustment, if any, (iii) less the amount of the Company Transaction Expenses Adjustment, if any, (iv) plus the LPI Purchase Price Adjustment, if any,
(v) plus the Equalization Purchase price Adjustment, (vi) plus the amount of cash actually received by the Company in payment of all Company Options and all Company Warrants exercised between the date of this Agreement and
immediately prior to the Effective Time, if any, and (vii) less the amount of cash actually paid by the Company in connection with the exercise of any Company Warrants exercised between the date of this Agreement and immediately prior to
the Effective Time, if any. 
 “Adverse Recommendation Change” has the meaning set forth in Section 6.4(c).

 “Affiliate” has the meaning used in Rule 145 promulgated by the SEC under the Securities Act. 
 “Aggregate Merger Consideration” shall mean an amount equal to the Merger Consideration to Common plus the Series B Liquidation Amount.

 “Agreement” has the meaning set forth in the preamble hereto. 
 “Alternative Financing” has the meaning set forth in Section 6.11(b). 
 “Antitrust Laws” has the meaning set forth in Section 6.5(c). 
 “Applicable Documents” means (i) with respect to each holder of Company Common Stock or Series B Preferred Stock, the Company
Common Stock Certificate(s) or Series B Preferred Stock Certificate(s) (as applicable) held by such holder, together with the letter of transmittal duly completed and validly executed by such holder in accordance with the instructions thereto and
(ii) with respect to each holder of a Company Warrant, a certificate representing the Company Warrant(s) held by such holder. 
 “Bank of America Financing” has the meaning set forth in Section 5.5. 
 “Bank of America Loan
and Security Agreement” means that certain Loan and Security Agreement, dated as of April 10, 2008, among the Company, CCFC, Inc., a Nevada corporation, Ocean City Research Corp., a New Jersey corporation, Corrpro International, Inc.,
a Delaware corporation, Corrpro Canada, Inc., an Alberta corporation, Borza Inspections, Ltd., an Alberta corporation, Bank of America, N.A., as US Lender, Bank of America, N.A. (acting through its Canada branch), as Canadian Lender, and Bank of
America, N.A., a national banking association, as collateral agent for the lenders. 
 “Blue Sky Laws” means state
securities laws, including any “blue sky” laws. 
 “Business Day” has the meaning used in Rule 14d-1(g)
promulgated by the SEC under the Exchange Act. 
 “Business Insurance Policies” has the meaning set forth in
Section 4.21. 
 “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of
1980, as amended. 
 “Certificate of Merger” has the meaning set forth in Section 2.3. 
  

 2 

 “Certificates” has the meaning set forth in Section 3.5(a)(ii). 

“Cleanup” means all actions required to (a) identify, investigate, contain, characterize, cleanup, monitor, remove, remediate,
transport, treat or otherwise address any Hazardous Substances present in the Environment, (b) address a Release or threatened Release of Hazardous Substances into the Environment, (c) perform pre remedial studies and investigations and
post remedial monitoring and care, or (d) respond to any government directives, orders, or requests for information relating to investigation, cleanup, removal, treatment, monitoring or remediation of Hazardous Substances in the Environment.
The term includes, but is not necessarily limited to, the definitions of “removal,” “remedial action,” and “respond” as set forth in CERCLA, 42 U.S.C. § 9601 (23), (24) and (25), as amended, and
“corrective action” as used in the Resource Conservation and Recovery Act, 42 U.S.C. § 6928(h), as amended. 
 “Cleanup Costs” means all reasonable costs, fees, expenses (including attorneys’ fees and expenses), settlements, judgments, fines, penalties and other remuneration incurred for Cleanup, including reasonable response
costs incurred and oversight fees imposed or assessed by any Governmental Entity with jurisdiction over the Cleanup. 
 “Closing” has the meaning set forth in Section 2.2. 
 “Closing Date” has the meaning
set forth in Section 2.2. 
 “Closing Date Company Debt Adjustment” has the meaning set forth in
Section 3.2(c). 
 “Closing Date Debt” means an amount equal to the aggregate amount of all obligations of the
Company and the Company Subsidiaries immediately prior to the Effective Time (i) for borrowed money, (ii) evidenced by bonds, debentures or notes, (iii) for capitalized lease obligations, (iv) all guarantees and arrangements
having the economic effect of a guarantee by the Company or any Company Subsidiary of any indebtedness of any Person (other than the Company or any Company Subsidiary), and (v) all interest, any premiums payable or any other costs or charges
(including any prepayment penalties) on any instruments or obligations described in clauses (i) through (iv) hereof, including any such obligations due under (A) the term loans included under the Bank of America Loan and Security
Agreement or (B) the Note Equity Purchase Agreement; provided that Closing Date Debt shall not include (1) any principal amounts outstanding immediately prior to the Effective Time under the Existing Revolving Credit Facility or
(2) any obligations of the Company or a Company Subsidiary due to insurance companies in connection with financing of premiums of insurance policies. 
 “Closing Debt Cap” means $15,500,000. 
 “COBRA” has the meaning set forth
in Section 4.8(b). 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 
 “Company” has the meaning set forth in the preamble hereto. 
 “Company Articles of Incorporation” means the Amended and Restated Articles of Incorporation of the Company. 
 “Company Balance Sheet” has the meaning set forth in Section 4.6(a). 
 “Company Balance Sheet Date” has the meaning set forth in Section 4.6(a). 
  

 3 

 “Company Benefit Plans” means, to the extent currently sponsored, established,
maintained or contributed to or required to be contributed to by the Company or any Company Subsidiary or any ERISA Affiliate for the benefit of any current or former employee or director, or any beneficiary thereof of the Company or any Company
Subsidiary, (i) all employee benefit plans within the meaning of Section 3(3) of ERISA, (ii) all stock option, stock purchase, phantom stock, stock appreciation right, supplemental retirement, severance, sabbatical, employee
relocation, cafeteria benefit (Section 125 of the Code), dependent care (Section 129 of the Code), medical, vision, dental, life insurance or accident insurance plans, programs or arrangements, (iii) all bonus, stock bonus, pension, profit
sharing, savings, retirement, deferred compensation or incentive plans, programs or arrangements and (iv) other fringe or employee benefit plans, programs or arrangements that apply to senior management and that do not generally apply to all
employees (including, in each category, any plan, program or arrangement that covers only one individual). 
 “Company
Board” means the Board of Directors of the Company. 
 “Company Board Recommendation” means the recommendation by
the Company Board that the Company’s shareholders vote in favor of the adoption of this Agreement. 
 “Company Bylaws”
means the Amended and Restated Code of Regulations of the Company. 
 “Company Capital Stock” means the Company Common Stock
and the Company Preferred Stock. 
 “Company Common Stock” means the common shares, without par value, of the Company.

 “Company Common Stock Certificate” has the meaning set forth in Section 3.5(a)(ii). 
 “Company Disclosure Letter” means the disclosure letter delivered by the Company to Parent concurrently with the execution of this
Agreement. 
 “Company Financial Statements” has the meaning set forth in Section 4.6(a). 
 “Company IP Rights” means material Intellectual Property, including Technology, used in the conduct of the business of the Company and
the Company Subsidiaries as currently conducted, including, but not limited to, the Company-Owned IP Rights. 
 “Company
Option” means any option granted, and not exercised, expired or terminated as of immediately prior to the Effective Time, to a current or former employee, director or independent contractor of the Company or any of the Company Subsidiaries
or any predecessor thereof to purchase shares of Company Common Stock pursuant to any Company Stock Option Plan. 
 “Company-Owned IP
Rights” means Company IP Rights that are owned exclusively by the Company or any of the Company Subsidiaries, including, without limitation, Company Registered Intellectual Property. 
 “Company Periodic Reports” means the annual reports and quarterly reports of the Company made available by the Company on
www.pinksheets.com since January 1, 2006. 
 “Company Permits” has the meaning set forth in Section 4.5(a).

 “Company Preferred Stock” has the meaning set forth in Section 4.2(a). 
  

 4 

 “Company Registered Intellectual Property” means all United States, international and
foreign (i) patents and patent applications (including provisional applications), (ii) registered service marks and trademarks and applications to register service marks and trademarks, (iii) registered Internet domain names and
(iv) registered copyrights and applications for copyright registration, in each case of (i) through (iv) that is owned by the Company or any of the Company Subsidiaries and which have not expired. 
 “Company Shareholders Approval” has the meaning set forth in Section 4.3(a). 
 “Company Shareholders Meeting” has the meaning set forth in Section 4.3(a). 
 “Company Stock Option Plans” means any stock option, stock bonus, stock award or stock purchase plan, program or arrangement, as amended
to date, of the Company or any of the Company Subsidiaries or any predecessor thereof, including the Company’s 2006 Long-Term Incentive Plan, as amended or restated, 2004 Long-Term Incentive Plan, as amended or restated, 1997 Long-Term
Incentive Plan, as amended or restated, 1997 Directors Plan, as amended or restated, and 2001 Non-Employee Directors’ Stock Appreciation Rights Plan, as amended or restated. 
 “Company Subsidiary” has the meaning set forth in Section 4.1(a). 
 “Company Termination Fee” has the meaning set forth in Section 8.2(b). 
 “Company Transaction Expenses” shall mean all Expenses of the Company including, without limitation, (i) all premiums and other
amounts due under the New D&O Tail and (ii) all bonuses payable to management of the Company due to the consummation of the Merger; provided that Company Transaction Expenses shall specifically include any Expenses arising from or in
connection with the UK Pension or any due diligence, advice or reviews relating thereto. 
 “Company Transaction Expenses
Adjustment” has the meaning set forth in Section 3.3(b). 
 “Company Transaction Expenses Cap” shall
mean $3,300,000. 
 “Company Warrants” means warrants to purchase shares of Company Common Stock. 
 “Confidentiality Agreement” has the meaning set forth in Section 6.3(c). 
 “Consent” means any consent, approval or authorization of a Person, including any Governmental Entity. 
 “Continuing Employee” has the meaning set forth in Section 6.8(a). 
 “Contract” means any agreement, contract, subcontract, lease, sublease, note, loan, evidence of Indebtedness, letter of credit, covenant
not to compete, obligation, indenture or option, whether oral or written. 
 “D&O Indemnified Party” means each person
who is now, has been at any time prior to the date of this Agreement, or becomes prior to the Effective Time, an officer, director, employee, controlling shareholder or agent (including a trustee or fiduciary of a Company Benefit Plan) of the
Company and each Company Subsidiary and who, at the Effective Time, is entitled to indemnification (i) under the articles or certificate of incorporation or bylaws (or equivalent documents) of the Company or such Company Subsidiary at such time
or (ii) pursuant to an indemnification agreement with the Company or any Company Subsidiary in existence on the date hereof, which such indemnification agreements shall be listed in Section 6.7(a) of the Company’s Disclosure
Letter. 
  

 5 

 “Dissenting Shares” has the meaning set forth in Section 3.7. 
 “Effective Time” has the meaning set forth in Section 2.3. 
 “Encumbrance” means, with respect to any asset, any mortgage, deed of trust, lien, pledge, charge, security interest, title retention
device, conditional sale or other security arrangement, collateral assignment, claim, adverse claim of title, ownership or other similar encumbrance of any kind in respect of such asset (including any restriction on (i) the voting of any
security or the transfer of any security or other asset, (ii) the receipt of any income derived from any asset, and (iii) the use of any asset), other than any encumbrance arising (A) in the ordinary course of business, (B) by
reasons of restrictions on transfers under federal, state and foreign securities Laws, (C) under applicable Laws with respect to Taxes not yet due and payable, or (D) under the Loan Agreements. 
 “Environment” means surface or subsurface soil or strata, surface waters and sediments, navigable waters, wetlands, groundwater,
sediments, drinking water supply, ambient air, plants, animals, and natural resources. The term also includes indoor air and building materials to the extent regulated under Environmental Laws. 
 “Environmental Claim” means a claim or demand by, or notice from, a third party, including any Governmental Entity, person or
citizens’ group, (i) seeking a remedy for any Environmental Condition, (ii) alleging liability or responsibility for or with respect to any Environmental Condition, or (iii) alleging a violation of or liability under
Environmental Law or Environmental Permits, whether due to negligence, strict liability or otherwise. The term includes administrative investigations, hearings and proceedings, court actions, arbitrations, orders, notices of violation, notice of
potential responsibility, claims, actions filed in court (including contribution actions), for or with respect to bodily injury, property damage, damage to the Environment, Cleanup, Cleanup Costs and violations of Environmental Laws, regardless of
whether the claim at issue is false, fraudulent or has no basis in fact and regardless of whether the party against who the claim is asserted has a legal or equitable defense to such claim. 
 “Environmental Condition” means the intentional or unintentional presence of, Release or threatened Release of any Hazardous Substances
at or into the Environment. 
 “Environmental Laws” means any Law, including Cleanup standards developed by any Governmental
Entity dealing with pollution or the protection of the Environment or exposure to Hazardous Substances, and includes, but is not necessarily limited to CERCLA, the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act,
42 U.S.C. § 6901 et seq. (“RCRA”), the Clean Water Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 42 U.S.C. § 7401 et seq., the Toxic Substances Control Act, 15 U.S.C.
§ 2601 et seq., the Safe Drinking Water Act, 42 U.S.C. § 300f et seq., the Emergency Planning and Community Right-to-Know Act, 42 U.S.C. § 11001 et seq., the Oil Pollution Act, 33 U.S.C.
§ 2701 et seq., the Hazardous Material Transportation Act, 49 U.S.C. § 1801 et seq., and the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq., as amended. 
 “Environmental Permits” means any authorizations, licenses, permits, plans, or registrations required by or issued pursuant to any
Environmental Law by any Governmental Entity in connection with the Company’s or any Company Subsidiary’s activities and operations at the Facilities or the Real Properties. 
 “Equalization Purchase Price Adjustment” has the meaning set forth in Section 3.4(c). 
  

 6 

 “Equity Interest” means any share, capital stock, partnership, member or similar
interest in any Person, and any option, warrant, right or security (including debt securities) convertible, exchangeable or exercisable therefor. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. 
 “ERISA Affiliate” means, as of the date hereof, any entity or trade or business (whether or not incorporated), other than the Company and the Company Subsidiaries, that currently, together with the
Company is considered under common control and treated as a single employer under Sections 414(b), (c), (m) or (o) of the Code. 
 “Estimated Closing Date Company Debt” has the meaning set forth in Section 3.2(b). 
 “Estimated Company Transaction Expenses” has the meaning set forth in Section 3.3(a). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the SEC thereunder. 
 “Exchange Agent” means US Bank, NA. or such other party mutually acceptable to Company and Parent. 
 “Exchange Agent Agreement” has the meaning set forth in Section 3.5(b). 
 “Exchange
Fund” has the meaning set forth in Section 3.5(b). 
 “Existing Revolving Credit Facility” shall
mean all Indebtedness arising under the revolving credit facility included under the Bank of America Loan and Security Agreement.  
 “Expenses” includes all out-of-pocket expenses (including all fees and expenses of legal counsel, accountants, investment bankers, experts and consultants to a party hereto and its Affiliates) incurred by a party or on its
behalf in connection with or related to the authorization, preparation, negotiation, execution and performance of this Agreement and the transactions contemplated hereby, including the solicitation of shareholder approvals and all other matters
related to the transactions contemplated hereby. 
 “Facilities” means all plants, offices, manufacturing facilities,
stores, warehouses, administration buildings and real property and related facilities and fixtures owned or leased by the Company or any of the Company Subsidiaries. 
 “Final Salary Scheme Members” means the employees, directors, ex-employees and ex-directors of UK Corrpro who are entitled to benefit under the UK Pension and all those persons who are spouses,
children and dependants thereof. 
 “Final Salary Scheme Trustees” means M. Davies, N. Darley and P.F. Rogan. 
 “Financing” has the meaning set forth in Section 5.5. 
 “Financing Commitment Letter” has the meaning set forth in Section 5.5. 
 “First Equalization Purchase Price Adjustment” has the meaning set forth in Section 3.4(b). 
  

 7 

 “Fully Diluted Shares” means the aggregate number of shares of Company Common Stock
outstanding immediately prior to the Effective Time, assuming the exercise of all shares subject to all fully vested Company Options (other than Non-Vesting Option Shares) for which the exercise price thereof is less than the Per Share Merger
Consideration and assuming exercise in full of all Company Warrants and assuming the cancellation of 250,000 shares of restricted stock held by William V. Larkin, Jr. 
 “GAAP” means generally accepted accounting principles as applied in the United States as in effect on the date hereof. 
 “Governmental Entity” means any supranational, national, state, municipal, local or foreign government, any court, tribunal, arbitrator, administrative agency, commission or other governmental
official, authority or instrumentality, in each case whether domestic or foreign, any stock exchange or similar self-regulatory organization or any quasi-governmental or private body exercising any regulatory, Tax authority or any other governmental
or quasi-governmental entity. 
 “Group” has the meaning as used in Section 13 of the Exchange Act, except where the
context otherwise requires. 
 “Hazardous Substances” means any solid, liquid, gaseous or thermal pollutant, element,
chemical, irritant, vapor, waste or contaminant regulated because of its actual or potential adverse effect on human health or Environment, including but not limited to, solid waste, herbicides, pesticides, asbestos-containing material,
polychlorinated biphenyls, pesticides, lead-based paint, oil, petroleum, petroleum- based products and constituents thereof, radiation and noise. 
 “HM Revenue” means HM Revenue & Customs (previously the Inland Revenue) which grants tax approval with respect to UK pension schemes. 
 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations thereunder. 
 “Income Tax” shall mean any income or franchise Tax imposed on or measured by net income, taxable income, gross profit, net
worth, capital, gross receipts or any substantially similar measure, including but not limited to Texas gross margins tax, Michigan receipts tax, Ohio commercial activities tax and the Washington business and occupation tax.  
 “Indebtedness” means, with respect to any Person, without duplication, (i) all obligations of such Person for borrowed money,
(ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of such Person upon which interest charges are customarily paid, (iv) all obligations of such Person under
conditional sale or other title retention agreements relating to property purchased by such Person, (v) all obligations of such Person issued or assumed as the deferred purchase price of property (excluding obligations of such Person to
creditors for raw materials, inventory and supplies incurred in the ordinary course of such Person’s business), (vi) all capitalized lease obligations of such Person, (vii) all obligations of others secured by any Encumbrance on
property or assets owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (viii) all obligations of such Person under interest rate or currency swap transactions (valued at the termination value
thereof), (ix) all letters of credit issued for the account of such Person (excluding letters of credit issued for the benefit of suppliers to support accounts payable to suppliers incurred in the ordinary course of business), (x) all
obligations of such Person to purchase securities (or other property) that arise out of or in connection with the sale of the same or substantially similar securities or property, (xi) all guarantees and arrangements having the economic effect
of a guarantee of such Person of any 

  

 8 

 
indebtedness of any other Person, and (xii) all interest, any premiums payable or any other costs or charges (including any prepayment penalties) on any
instruments or obligations described in clauses (i) through (xi) hereof; provided, however, that Indebtedness shall not include any liabilities arising from (A) the UK Pension deficit, and (B) any obligation due to insurance
companies in connection with financing of premiums of insurance policies. 
 “Intellectual Property” means any and all
worldwide industrial and intellectual property rights, including, without limitation, Internet domain names and any rights available (including with respect to Technology) under patent, trademark, service mark, utility model, copyright or trade
secret Law or any other statutory provision or common law doctrine in the United States or other country, irrespective of whether such rights are registered, and including without limitation, utilization rights. 
 “Investor and Registration Rights Agreement” means that certain Investor and Registration Rights Agreement, dated as of March 30,
2004, by and between CorrPro Investments, LLC and the Company. 
 “IRS” means the United States Internal Revenue Service.

 “Know-How” means proprietary trade secrets, formulae, invention records, specifications, quality control procedures,
manufacturing processes and other know-how. 
 “Knowledge” means (i) with respect to the Company and/or any Company
Subsidiary, the actual knowledge of a fact, circumstance, event or other matter by any of the following individuals: William V. Larkin, Robert Mayer, David Kroon, David Johnson, Bruce Wiskel, Mark Davies, Tim Wallace, Denise Patterson, Karen
Domingue, Jeff Rog, Randy Galisky, Spencer Turpin, Todd Brabson, Glenn Betts, Shue Underwood, Terry Lacey, and Andrew Gillespie, and (ii) with respect to any other Person, the actual knowledge of a fact, circumstance, event or other matter by
the officers and directors of such Person. 
 “Law” means any foreign or domestic federal, state, provincial, local,
municipal or other law, statute, code, treaty, ordinance, rule, regulation, legal doctrine, order, permit, judgment, writ, stipulation, award, injunction, decree or arbitration award or finding. 
 “Lease” has the meaning set forth in Section 4.15(b). 
 “Leased Real Property” has the meaning set forth in Section 4.15(b). 
 “Loan Agreements” means (i) the Bank of America Loan and Security Agreement, (ii) the Note and Equity Purchase Agreement,
(iii) the loan agreements listed on Schedule A, and (iv) in the case of clauses (i) through (iii) above, all amendments, modifications or supplements thereto. 
 “Losses” of a Person shall mean, without duplication, any and all out of pocket losses, liabilities, damages, claims, awards, judgments,
costs and expenses, interest and penalties (including, without limitation, reasonable attorneys’ fees) imposed upon or sustained or incurred by such Person. 
 “LPI Purchase Price Adjustment” has the meaning set forth in Section 3.4. 
 “Material Adverse Effect” means any effect, event, occurrence, development, circumstance, change or condition (each an “Effect”) that is materially adverse to the assets, business, financial condition or
results of operations of the Company and the Company Subsidiaries, taken as a whole, except to the extent that such Effect results from (i) changes or conditions affecting economic or capital markets in the United States or internationally,
(ii) changes or conditions affecting the industry in which 

  

 9 

 
the Company or any Company Subsidiary operates, (iii) the announcement of this Agreement or the transactions contemplated hereby or of the identity of
Parent, (iv) any outbreak of major or material worsening of hostilities in which the United States is involved or any act of terrorism within the United States or directed against its facilities or citizens wherever located, or (v) any
actions required under this Agreement to obtain any authorization or approval under applicable antitrust or competition laws for the consummation of the transactions contemplated by this Agreement. 
 “Material Contract” has the meaning set forth in Section 4.9(a). 
 “Merger” has the meaning set forth in the recitals hereto. 
 “Merger Consideration to Common” means the difference between (i) the Adjusted Purchase Price and (ii) the Series B
Liquidation Amount. 
 “Merger Sub” has the meaning set forth in the preamble hereto. 
 “Money Purchase Scheme” means the Group Personal Pension Plan with Standard Life. 
 “New D&O Tail” has the meaning set forth in Section 6.7(b). 
 “Non-Vesting Option Shares” means the $1.75 Option Shares, the $2.25 Option Shares or any other shares subject to Company Options that
are not vested as of the Effective Time. 
 “Note and Equity Purchase Agreement” means that certain Note and Equity Purchase
Agreement, dated as of March 30, 2004, by and among the Company, and CCFC, Inc., a Nevada corporation, Ocean City Research Corp., a New Jersey corporation, and Corrpro International, Inc., a Delaware corporation, Commonwealth Seager Holdings
Ltd., an Alberta corporation, Corrpro Canada, Inc., an Alberta corporation, and Borza Inspections Ltd., an Alberta corporation, the securities purchasers listed in Annex A (or any amendment or supplement thereto) attached thereto and American
Capital Financial Services, Inc., a Delaware corporation, as administrative agent for purchasers thereunder. 
 “Notice of Superior
Offer” has the meaning set forth in Section 6.4(c). 
 “OGCL” has the meaning set forth in the recitals
hereto. 
 “Parent” has the meaning set forth in the preamble hereto. 
 “Parent Material Adverse Effect” means any Effect that is materially adverse to the assets, business, financial condition or results of
operations of the Parent and the Parent Subsidiaries, taken as a whole, except to the extent that such Effect results from (i) changes or conditions affecting economic or capital markets in the United States or internationally,
(ii) changes or conditions affecting the industry in which the Parent or any Parent Subsidiary operates, (iii) the announcement of this Agreement or the transactions contemplated hereby or the identity of Parent, (iv) any outbreak of
major or material worsening of hostilities in which the United States is involved or any act of terrorism within the United States or directed against its facilities or citizens wherever located, or (v) any actions required under this Agreement
to obtain any authorization or approval under applicable antitrust or competition laws for the consummation of the transactions contemplated by this Agreement. 
 “Parent Subsidiary” has the meaning set forth in Section 5.1. 
  

 10 

 “Payee” means each recipient of Merger Consideration to Common including upon exercise
or cash out of a Company Option, restricted stock or a Company Warrant. 
 “Pensions Regulator” means the regulator
of work-based pension schemes in the United Kingdom created under the Pensions Act 2004. 
 “Per Share Merger Consideration”
means the quotient of (i) the Merger Consideration to Common, divided by (ii) the number of Fully Diluted Shares. 
 “Permit” means any permit, authorization, approval, registration, license, certificate, exemption, waiver or variance issued or granted by or obtained from any Governmental Entity. 
 “Permitted Exceptions” has the meaning set forth in Section 4.15(a). 
 “Person” means an individual, corporation, limited liability company, partnership (limited, general or otherwise), association, trust,
business trust, unincorporated organization, or other entity or group. 
 “Pre-Closing Straddle Period” has the meaning set
forth in Section 4.13(a). 
 “Pre-Closing Tax Periods” has the meaning set forth in Section 6.12(a).

 “Proceeding” shall mean any claim, action, suit or proceeding whether civil, criminal, administrative or investigative.

 “Purchase Price” means $65,600,000. 
 “Qualified Plan” has the meaning set forth in Section 4.8(b). 
 “Real
Properties” has the meaning set forth in Section 4.15(a). 
 “Release” means any releasing, spilling,
leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, disposing or dumping. 
 “Representatives”
means an entity’s directors, officers, employees, Affiliates, accountants, consultants, legal counsel, advisors, investment bankers, brokers, agents and other representatives. 
 “Restraint” has the meaning set forth in Section 7.1(b). 
 “SEC” means the Securities and Exchange Commission. 
 “Second Equalization Purchase Price Adjustment” has the meaning set forth in Section 3.4(c). 
 “Secretary of State” has the meaning set forth in Section 2.3. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated by the SEC thereunder. 
 “Series A Preferred Stock” has the meaning set forth in Section 4.2(a). 
  

 11 

 “Series B Liquidation Amount” means the aggregate liquidation preference payable to all
the holders of the Series B Preferred Stock on the Closing Date under Article Fourth, Section (d)(4) of the Company Articles of Incorporation. Schedule B hereto sets forth the Series B Liquidation Amount. 
 “Series B Liquidation Amount Per Share” means an amount equal to (i) the Series B Liquidation Amount, divided by (ii) the
number of shares of Series B Preferred Stock outstanding immediately prior to the Effective Time. 
 “Series B Preferred
Stock” has the meaning set forth in Section 4.2(a). 
 “Series B Preferred Stock Certificate” has the
meaning set forth in Section 3.5(a)(ii). 
 “Straddle Period” has the meaning set forth in
Section 6.12(a). 
 “Subsequent Disclosure Schedule” has the meaning set forth in Section 10.13.

 “Subsequent Event” has the meaning set forth in Section 10.13. 
 “Subsidiary” of a specified entity means any corporation, partnership, limited liability company, joint venture or other entity of which
the specified entity (either alone or through or together with any other subsidiary) owns, directly or indirectly, 50% or more of the stock or other equity or partnership interests. 
 “Superior Offer” means, with respect to the Company, an unsolicited, bona fide written offer made by a third party for an Acquisition
Proposal on terms that the Company Board has in good faith concluded (after consultation with its outside legal counsel and its financial advisor), taking into account, among other things, all legal, financial, regulatory and other aspects of the
offer and the Person making the offer, to be more favorable to the Company’s shareholders (in their capacities as shareholders) than the terms of the Merger and is reasonably capable of being consummated. 
 “Surviving Corporation” has the meaning set forth in Section 2.1. 
 “Tax Return” means any report, return, statement, declaration, claim for refund, information return or other written information
(including any related or supporting schedules, statements or information and amended returns) filed or required to be filed in connection with any Taxes, including (i) any schedule or attachment thereto and any amendment or supplement thereof
and (ii) the administration of any Laws, regulations or administrative requirements relating to any Taxes. 
 “Taxes”
means (i) all taxes, levies, assessments, duties, imposts or other like assessments, charges or fees (including estimated taxes, charges and fees), including, without limitation, income, profits, gross receipts, transfer, excise, property,
sales, use, value-added, ad valorem, license, excise, capital, wage, employment, payroll, withholding, social security, Medicare, severance, occupation, import, custom, duties, stamp, documentary, mortgage, registration, alternative, add-on minimum,
environmental, franchise or other governmental taxes or charges of any kind whatsoever, imposed by any Governmental Entity responsible for the imposition of any such tax (each, a “Tax Authority”), including any interest, penalties,
fines or additions to tax applicable or related thereto, (ii) all liability for the payment of any amounts of the type described in clause (i) as the result of being (or ceasing to be) a member of an affiliated, consolidated, combined or
unitary group (or being included (or required to be included) in any Tax Return related thereto) and (iii) all liability for the payment of any amounts as a result of an express or implied obligation to indemnify or otherwise contribute, assume
or succeed to the liability of any other Person with respect to the payment of any amounts of the type described in clause (i) or clause (ii). 
  

 12 

 “Technology” means, collectively, designs, formulae, methods, techniques, ideas, data
improvements, inventions, software and other similar materials, all recordings, graphs, drawings, reports, analyses, and Know-How and other writings, and any other embodiments of the above, in any form whether or not specifically listed herein, and
all related technology, that are used, incorporated or embodied in or displayed by any of the foregoing or used in the design, development, reproduction, sale, marketing, maintenance or modification of any of the foregoing. 
 “UK Corrpro” means Corrpro Companies Europe Limited. 
 “UK Pension” means the Corrpro Companies Europe Limited Pension and Assurance Scheme established by an Interim Trust Deed dated 29 November 1974 and currently governed by a Definitive Trust Deed
and Rules dated 7 November 2000 of which UK Corrpro is the principal employer. 
 “UK Valuation” has the meaning set
forth in Section 4.8(o)(vii). 
 ARTICLE 2 
 THE MERGER 
 2.1 The Merger. Upon the terms and subject to satisfaction or waiver of the
conditions set forth in this Agreement, and in accordance with the OGCL, Merger Sub, at the Effective Time, shall be merged with and into the Company. As a result of the Merger, the separate corporate existence of Merger Sub shall cease and the
Company shall continue as the surviving corporation of the Merger (the “Surviving Corporation”) and as a wholly-owned Subsidiary of Parent. 
 2.2 The Closing. The closing of the transactions contemplated hereby (the “Closing”) shall take place on the third (3rd) Business Day at 10:00 a.m. (Central time) after the satisfaction or
waiver of each of the conditions set forth in Article 7 (other than those conditions that by their terms are to be satisfied at Closing, but subject to the satisfaction or waiver of such condition at such time) or at such other time or date
as the parties hereto agree. The Closing shall take place at the offices of Thompson Coburn in St. Louis, Missouri or such other location as the parties hereto agree. The date on which the Closing occurs is herein referred to as the “Closing
Date.” 
 2.3 Effective Time. On the Closing Date, a properly executed certificate of merger in substantially the form
attached hereto as Exhibit A (the “Certificate of Merger”) conforming to the requirements of the OGCL, and otherwise in form and substance satisfactory to Parent and the Company, shall be filed with the Secretary of State of
the State of Ohio (the “Secretary of State”). The Merger shall become effective upon the date and time of the filing of the Certificate of Merger with the Secretary of State, or such later date and time as the Company and Parent may
agree and specify in the Certificate of Merger. The date and time the Merger becomes effective is referred to in this Agreement as the “Effective Time.” For all purposes, all of the document deliveries and other actions to occur at
the Closing will be conclusively presumed to have occurred at the same time, immediately before the Effective Time, unless otherwise specifically set forth in the applicable document. 
 2.4 Effect of the Merger. At the Effective Time, the effect of the Merger shall be as provided in this Agreement, the Certificate of Merger and
the applicable provisions of the OGCL. Without limiting the generality of the foregoing, at the Effective Time, except as otherwise provided herein, all the property, rights, privileges, powers and franchises of the Company and Merger Sub shall vest
in the Surviving Corporation, and all debts, liabilities and duties of the Company and Merger Sub shall become the debts, liabilities and duties of the Surviving Corporation. 
  

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 2.5 Articles of Incorporation; Bylaws. At the Effective Time, the articles of incorporation and
the code of regulations of the Merger Sub as in effect immediately prior to the Effective Time shall be the articles of incorporation and code of regulations of the Surviving Corporation. 
 2.6 Directors and Officers. The directors of Merger Sub immediately prior to the Effective Time shall be the directors of the Surviving
Corporation, each to hold office until such person’s successor shall be elected and qualified or such person’s earlier death, resignation or removal in accordance with the OGCL, articles of incorporation and code of regulations of the
Surviving Corporation. The executive officers of the Company immediately prior to the Effective Time shall be the officers of the Surviving Corporation, each to hold office until such person’s successor shall be elected and qualified or such
person’s earlier death, resignation or removal in accordance with the OGCL, articles of incorporation and code of regulations of the Surviving Corporation. 
 ARTICLE 3 
 EFFECT ON EQUITY INTERESTS; EXCHANGE OF CERTIFICATES 
 3.1 Effect on Equity Interests. At the Effective Time, by virtue of the Merger and without any action on the part of Merger Sub, the Company or
the holders of any of the following securities: 
 (a) Company Common Stock. Each share of Company Common Stock issued and outstanding
immediately prior to the Effective Time (other than any shares of Company Common Stock to be canceled pursuant to Section 3.1(c) and Dissenting Shares referred to in Section 3.7) shall be converted, subject to the other
provisions of Section 3.1 and Sections 3.5(e) and 3.7, into the right to receive the Per Share Merger Consideration. At the Effective Time, all such shares of Company Common Stock shall no longer be outstanding and shall
automatically cease to exist, and each certificate previously representing any such shares shall thereafter represent only the right to receive the Per Share Merger Consideration multiplied by the number of shares represented by such certificate,
subject to other provisions of Section 3.1 and Sections 3.5(e) and 3.7. 
 (b) Series B Preferred Stock.
Each share of Series B Preferred Stock issued and outstanding immediately prior to the Effective Time (other than any shares of Series B Preferred Stock to be canceled pursuant to Section 3.1(c) and Dissenting Shares referred to in
Section 3.7) shall be converted, subject to the other provisions of Section 3.1 and Sections 3.5(e) and 3.7, into the right to receive an amount in cash without interest equal to the Series B Liquidation Amount
Per Share. At the Effective Time, all shares of Series B Preferred Stock shall no longer be outstanding and shall automatically cease to exist, and each certificate previously representing any such shares shall thereafter represent only the right to
receive the Series B Liquidation Amount Per Share multiplied by the number of shares represented by such certificate, subject to other provisions of Section 3.1 and Section 3.5(e) and Section 3.7. 
 (c) Cancellation of Certain Shares. Each share of Company Capital Stock held, immediately prior to the Effective Time, by the Company, any Company
Subsidiary, the Parent, Merger Sub or any Subsidiary of the Parent or Merger Sub shall be canceled and extinguished without any conversion thereof, and no payment shall be made with respect thereto. 
 (d) Change in Shares. In the event of any stock split, reverse stock split, stock dividend (including any dividend or distribution of securities
convertible into capital stock), reorganization, reclassification, combination, recapitalization or other like change with respect to shares of Company Capital Stock occurring after the date of this Agreement and prior to the Effective Time, the Per
Share Merger Consideration, the Series B Liquidation Amount Per Share and all references in this Agreement to specified numbers of shares of any class or series affected thereby, and all calculations 

  

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provided for that are based upon numbers of shares of any class or series (or trading prices therefor) affected thereby, shall be equitably adjusted to the
extent necessary to provide the parties the same economic effect as contemplated by this Agreement prior to such stock split, reverse stock split, stock dividend, reorganization, reclassification, combination, recapitalization or other like change.

 (e) Capital Stock of Merger Sub. At the Effective Time, each share of capital stock of Merger Sub that is issued and outstanding
immediately prior to the Effective Time will, by virtue of the Merger and without further action on the part of the sole stockholder of Merger Sub, be converted into and become one share of common stock of the Surviving Corporation (and the shares
of the Surviving Corporation into which the shares of Merger Sub capital stock are so converted shall be the only shares of the Surviving Corporation’s capital stock that are issued and outstanding immediately after the Effective Time). Each
certificate evidencing ownership of shares of Merger Sub common stock will evidence ownership of such shares of common stock of the Surviving Corporation. 
 3.2 Closing Date Company Debt Adjustment. 
 (a) Cooperation. Prior to the Closing Date, the
Company shall cooperate and use commercially reasonable efforts to assist the Acquirors to coordinate the repayment in full by the Acquirors on the Closing Date of certain Indebtedness outstanding as of the Closing Date, including obtaining pay-off
letters and releases of all Encumbrances securing any such Indebtedness. 
 (b) Estimated Closing Date Company Debt. At least five
(5) Business Days prior to the Closing Date, the Company shall prepare, and deliver to the Parent a certificate which shall set forth (i) the estimated Closing Date Debt of the Company as of immediately prior to the Effective Time,
itemized by individual payor and payee and estimated outstanding balance as of the Closing Date (the “Estimated Closing Date Company Debt”), and (ii) a statement of the amount of any Closing Date Company Debt Adjustment
calculated pursuant to Section 3.2(c) below. The Company and the Company Subsidiaries shall provide the Acquirors and their respective designees with reasonable cooperation and access at reasonable times to their books and records
(including financial statements) and to their personnel to verify the Estimated Closing Date Company Debt. The accuracy of the Estimated Closing Date Company Debt shall be reasonably acceptable to Parent. 
 (c) Adjustment to Purchase Price Based on Estimated Closing Date Company Debt. The Purchase Price and the corresponding amount payable to the
Payees shall be decreased, by the amount, if any, that the Estimated Closing Date Company Debt exceeds the Closing Debt Cap (the amount of any such excess, the “Closing Date Company Debt Adjustment”). 
 3.3 Closing Date Company Transaction Expenses Adjustment. 
 (a) Estimated Company Transaction Expenses. At least five (5) Business Days prior to the Closing Date, the Company shall prepare and deliver to the Parent a certificate which shall set forth the Company
Transaction Expenses (or an estimate determined in the good faith of the Company for all Company Transaction Expenses that are not then known or determinable) itemized by individual payor and payee and the estimated amount due including amounts that
may be incurred at or after the Effective Time (the “Estimated Company Transaction Expenses”). The accuracy of the Estimated Company Transaction Expenses shall be reasonably acceptable to Parent. 
 (b) Adjustment to Purchase Price Based on Estimated Company Transaction Expenses. The Purchase Price and the corresponding amount payable to the
Payees shall be decreased, by the amount, if any, that the Estimated Company Transaction Expenses exceeds the Company Transaction Expenses Cap (the amount of any such excess, the “Company Transaction Expenses Adjustment”).

  

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 3.4 UK Pension Purchase Price Adjustments. 
 (a) LPI Purchase Price Adjustment. The Purchase Price shall be increased by the amount of $250,000 (such increase, if any, the “LPI
Purchase Price Adjustment”), if, on or prior to the Closing Date, the Company provides the Parent with (i) an amendment to the governing documents of the UK Pension, together with (A) documentary or other evidence
providing the Parent with reasonable assurance that such amendment was properly adopted and properly executed in accordance with all necessary legal formalities as required by the UK Pension governing documents providing for
the statutory limited price indexation pension increases for pension benefits earned in the UK Pension after approximately April 5, 1997 and (B) if available, evidence providing the Parent with reasonable assurance to
confirm the persons serving as the trustees to the UK Pension, the formal name of the UK Pension and the directors and officers of the UK Pension’s sponsoring employer on the date of adoption of such amendment, and
(ii) documentary or other evidence providing the Parent with reasonable assurance of the proper administration of the UK Pension in accordance with such amendment, like for example, a statement from the UK Pension’s
current pension’s administrator stating that this has occurred and a statement from the UK Pension’s actuary that this amendment has been funded for in the last valuation prepared with respect to the UK Pension.

 (b) First Equalization Purchase Price Adjustment. The Purchase Price shall be increased by the amount of $675,000 (such increase,
if any, the “First Equalization Purchase Price Adjustment”), if on or prior to the Closing Date, the Company provides the Parent with (i) an amendment to the governing documents of the UK Pension, together
with documentary or other evidence providing the Parent with reasonable assurance that such amendment was properly adopted and properly executed in accordance with all necessary legal formalities as required by the UK
Pension governing documents providing for the equalization of retirement ages at least for future pensionable service for male and female members of the UK Pension in accordance with UK legislation for all benefits provided by the UK Pension except
in relation to the statutory guaranteed minimum pension benefits with such amendment beginning on or about November or December, 1990, and (ii) documentary or other evidence providing the Parent with reasonable assurance of the proper
administration of the UK Pension in accordance with such amendment, like for example, a statement from the UK Pension’s current pension administrator stating that this has occurred and a statement from the UK Pension’s actuary that this
amendment has been funded for in the last valuation prepared with respect to the UK Pension. 
 (c) Second Equalization Purchase Price
Adjustment. The Purchase Price shall be increased by the additional amount of $75,000 (such increase, if any, the “Second Equalization Purchase Price Adjustment”; and together with the First Equalization Purchase Price
Adjustment, the “Equalization Purchase Price Adjustment”), if on or prior to the Closing Date, the Company provides the Parent with documentary or other evidence providing the Parent with reasonable assurance of the proper funding
of the UK Pension in relation to the provision of equal retirement ages for male and female members of the UK Pension in accordance with UK legislation for all benefits provided by the UK Pension except in relation to the statutory
guaranteed minimum pension benefits for the period on and from 17 May 1990 up to such amendment being made on or about November or December, 1990, as referred to in Section 3.4 (b) above, like for example, a
statement from the UK Pension’s current pension administrator stating that this has occurred and a statement from the UK Pension’s actuary that this change has been funded for in the last valuation prepared with respect to the UK
Pension (for the avoidance of doubt this clause (c) is likely to require that the UK Pension has provided pension benefits for both male and female members of the UK Pension during the applicable period based on a normal retirement
date of 60). 
 (d) Presumption as to Documents. The Company and the Parent agree that consistent with governing law in the United
Kingdom, proper execution of the amendments and other documents referenced in clauses (a), (b) and (c) above by the parties to such amendments and other documents will be presumed unless evidence contrary to such presumption has
been located.
  

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 3.5 Payment and Exchange of Certificates. 
 (a) Exchange Procedures. 
 (i) [Intentionally Omitted.] 
 (ii) Promptly after the Effective Time, but in any event within three
(3) Business Days following the Effective Time, Parent shall cause the Exchange Agent (as defined below) to mail to each holder of record of a certificate or certificates that immediately prior to the Effective Time represented shares of
Company Common Stock (a “Company Common Stock Certificate”) or Series B Preferred Stock (a “Series B Preferred Stock Certificate,” and together with the Company Common Stock Certificates, the
“Certificates”) (except such holders of Series B Preferred Stock who have delivered the Applicable Documents to Parent or the Exchange Agent not less than five (5) Business Days prior to the Closing pursuant to
Section 3.5(a)(vi)) and that at the Effective Time were, in accordance with this Article 3, converted into the right to receive the consideration set forth in and pursuant to Section 3.1, (A) a letter of
transmittal that shall specify that delivery shall be effected, and risk of loss and title to the Certificates shall pass, only upon proper delivery of the Certificates to the Exchange Agent and which shall be reasonably satisfactory to the Company
and (B) instructions for use in effecting surrender by such holder of Certificates to the Exchange Agent in exchange for the consideration set forth in Section 3.1. 
 (iii) Upon the surrender by a Payee to the Exchange Agent of such Payee’s Applicable Documents, the Payee shall be entitled to
receive in exchange for such Company Common Stock Certificate a check (or, if requested by such Payee, a wire transfer) for the amount equal to (A) the Per Share Merger Consideration, multiplied by (B) the number of shares of Company
Common Stock represented by such Company Common Stock Certificate, after giving effect to any required withholding tax, and such Company Common Stock Certificate shall forthwith thereafter be canceled. 
 (iv) The holder of each Series B Preferred Stock Certificate (except such holders of Series B Preferred Stock who have delivered the
Applicable Documents to Parent or the Exchange Agent not less than five (5) Business Days prior to the Closing pursuant to Section 3.5(a)(vi)), upon the surrender by such holder to the Exchange Agent of the Applicable Documents,
shall be entitled to receive in exchange for such Series B Preferred Stock Certificate a check (or, if requested by such holder, a wire transfer) for an amount equal to (A) the Series B Liquidation Amount Per Share, multiplied by (B) the
number of shares of Series B Preferred Stock represented by such Series B Preferred Stock Certificate, after giving effect to any required withholding tax, and such Series B Preferred Stock Certificate shall forthwith thereafter be canceled.

 (v) In the event of a transfer of ownership of shares of Company Common Stock or Series B Preferred Stock that is not
registered on the transfer records of the Company, the cash consideration payable hereunder with respect to such shares of Company Common Stock or Series B Preferred Stock may be paid to a Person other than the Person in whose name the Certificate
so surrendered is registered, if such Certificate shall be properly endorsed or otherwise be in proper form for transfer. Subject to Section 3.7, 

  

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each Certificate shall be deemed at all times from and after the Effective Time to represent only the right to receive, upon exchange as contemplated in this
Section 3.5, the consideration set forth in Section 3.1. No interest shall be paid or accrue on any consideration payable upon surrender of any Certificate. 
 (vi) At the Closing, Parent shall pay directly to each holder of Series B Preferred Stock who has delivered the Applicable Documents to
Parent or the Exchange Agent not less than five (5) Business Days prior to Closing, an amount equal to (A) the Series B Liquidation Amount Per Share, multiplied by (B) the number of shares of Series B Preferred Stock represented by
the Series B Preferred Stock Certificate(s) of such holder, after giving effect to any required withholding tax. Notwithstanding anything to the contrary in this Agreement, the parties hereto expressly acknowledge and agree that Parent shall not
deliver any portion of the Series B Liquidation Amount payable in respect of a Series B Preferred Stock Certificate for which the holder thereof has not delivered the Applicable Documents to Parent or the Exchange Agent not less than five
(5) Business Days prior to Closing but that Parent shall instead deliver to the Exchange Agent pursuant to Section 3.5(a)(i) above the portion of the Series B Liquidation Amount payable in respect of such Series B Preferred Stock
Certificate. 
 (b) Exchange Agent. At or prior to the Effective Time, Parent or a direct or indirect Subsidiary of Parent shall enter
into an agreement with Exchange Agent (the “Exchange Agent Agreement”), which shall establish reasonable procedures (including the deposit by the Parent with the Exchange Agent of the Aggregate Merger Consideration on or before the
Effective Time) reasonably satisfactory to the Company for exchange in accordance with this Article 3, through the Exchange Agent (except as provided in Section 3.5(a)(vi) and 3.6(c)(ii)), an amount of cash sufficient to
deliver to the holders of Company Common Stock and Series B Preferred Stock (other than Dissenting Shares and shares cancelled pursuant to Section 3.1(c)) the Aggregate Merger Consideration (such cash being hereinafter referred to as the
“Exchange Fund”) deliverable pursuant to Section 3.1 in exchange for outstanding shares of Company Common Stock and Series B Preferred Stock (other than Dissenting Shares and shares cancelled pursuant to
Section 3.1(c)). The Exchange Agent shall, pursuant to irrevocable instructions from the Acquirors, deliver the Aggregate Merger Consideration contemplated to be issued pursuant to Section 3.1 out of the Exchange Fund.

 (c) Further Rights in Company Common Stock and Series B Preferred Stock. The Merger Consideration to Common issued and paid upon
conversion of shares of Company Common Stock in accordance with the terms hereof shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to such Company Common Stock. The Series B Liquidation Amount issued and paid
upon conversion of shares of Series B Preferred Stock in accordance with the terms hereof shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to such Series B Preferred Stock. 
 (d) Termination of Exchange Fund. Any portion of the Exchange Fund that remains undistributed to the holders of shares of Company Common Stock or
Series B Preferred Stock for twelve (12) months after the Effective Time may be delivered to the Surviving Corporation, upon demand, and any holders of shares of Company Common Stock or Series B Preferred Stock who have not theretofore complied
with this Article 3 shall thereafter look only to the Surviving Corporation (subject to applicable abandoned property, escheat and similar Laws) for the Per Share Merger Consideration or Series B Liquidation Amount Per Share, as applicable,
without any interest thereon. 
 (e) Lost Certificates. If any Certificate shall have been lost, stolen or destroyed, upon the making
of an affidavit of that fact by the Person claiming such Certificate to be lost, stolen or 

  

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destroyed, and, if required by the Surviving Corporation in its discretion, the posting by such Person of a bond, in such reasonable amount as the Surviving
Corporation may direct, as indemnity against any claim that may be made against it with respect to such Certificate, the Exchange Agent will deliver in exchange for such lost, stolen or destroyed Certificate the Per Share Merger Consideration or
Series B Liquidation Amount Per Share, as applicable, to be paid in respect of the shares of Company Common Stock or Series B Preferred Stock represented by such Certificate, without any interest thereon. 
 (f) Withholding. Parent, Merger Sub or the Exchange Agent shall be entitled to deduct and withhold from the consideration otherwise payable
pursuant to this Agreement to any holder of shares of Company Common Stock, Series B Preferred Stock, Company Options or Company Warrants such amounts as Parent, Merger Sub or the Exchange Agent are required to deduct and withhold under the Code, or
any provision of state, local, provincial or foreign Tax Law. To the extent that amounts are so withheld by Parent, Merger Sub or the Exchange Agent, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to
the holder of shares of Company Common Stock, Series B Preferred Stock, Company Options or Company Warrants in respect of whom such deduction and withholding was made by Parent, Merger Sub or the Exchange Agent. 
 3.6 Convertible Securities. 
 (a)
Company Options. At the Effective Time, each vested in-the-money Company Option will be deemed exercised on such date. Upon such deemed exercise, the holder of each such Company Option shall immediately receive a cash payment from Parent or
the Surviving Corporation equal to the product of (i) the total number of vested and unexercised shares of Company Common Stock that were subject to such Company Option immediately prior to the Effective Time, multiplied by (ii) the excess
(if any) of (A) the Per Share Merger Consideration over (B) the exercise price per share subject to such Company Option, such cash payment to be reduced by any required withholding of Taxes. 
 (b) Non-Vesting Options. At the Effective Time, each Non-Vesting Option Share shall be canceled and extinguished. 
 (c) Company Warrants. 
 (i) Following the Effective Time, each Company Warrant shall in no event be exercisable for any equity securities of Parent, the Company or any of their Subsidiaries. The Company shall take all action necessary to cause all Company Warrants
to be terminated upon the Effective Time; provided, however, that the holder of any such terminated Company Warrant (except such holders of Company Warrants who have delivered the Applicable Document to Parent or the Exchange Agent not less than
five (5) Business Days prior to the Closing pursuant to subsection (ii) below) shall be entitled to receive following the Effective Time, upon surrender of the Applicable Document, a cash payment from the Exchange Agent equal to the
product of (A) the total number of shares of Company Common Stock issuable upon exercise of such Company Warrant immediately prior to such termination multiplied by (B) the excess (if any) of (x) the Per Share Merger Consideration
over (y) the exercise price per share in effect for such Company Warrant, such cash payment to be reduced by any required withholding of Taxes. 
 (ii) At the Closing, Parent shall deliver to each holder of Company Warrants who has delivered the Applicable Documents to Parent or the Exchange Agent not less than five (5) Business Days prior to Closing, an
amount equal to the product of (A) the total number of shares of Company Common Stock issuable upon exercise of such 

  

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Company Warrant immediately prior to such termination multiplied by (B) the excess (if any) of (x) the Per Share Merger Consideration over
(y) the exercise price per share in effect for such Company Warrant, such cash payment to be reduced by any required withholding of Taxes. Notwithstanding anything to the contrary in this Agreement, the parties hereto expressly acknowledge and
agree that Parent shall not deliver a Company Warrant Holder any consideration payable in respect of a Company Warrant for which the holder thereof has not delivered the Applicable Document to Parent or the Exchange Agent not less than five
(5) Business Days prior to Closing but that Parent shall instead deliver to the Exchange Agent pursuant to Section 3.6(c)(i) above any consideration payable in respect of such Company Warrant. 
 (d) The Company shall take all action necessary in order to effect the foregoing provisions of this Section 3.6 as of the Effective Time.

 3.7 Dissenting Shareholders. Notwithstanding anything in this Agreement to the contrary, shares of Company Common Stock or Series B
Preferred Stock that are outstanding immediately prior to the Effective Time and held by a holder who has not voted in favor of the Merger or consented thereto in writing and who has demanded appraisal for such shares of Company Common Stock or
Series B Preferred Stock, as applicable, in accordance with Section 1701.85 of the OGCL (“Dissenting Shares”) shall not be converted into a right to receive the Per Share Merger Consideration or the Series B Liquidation Amount
Per Share, as applicable, but instead shall only be entitled to the rights provided under Section 1701.85 of the OGCL; provided, however, that if any such holder shall fail to perfect or otherwise shall waive, withdraw or lose the right to
appraisal and payment under the OGCL, the right of such holder to such appraisal of its shares of Company Common Stock or Series B Preferred Stock, as applicable, shall cease, and such shares of Company Common Stock or Series B Preferred Stock, as
applicable, shall be deemed converted as of the Effective Time into the right to receive the Per Share Merger Consideration or the Series B Liquidation Amount, as applicable, as provided in this Article 3. The Company shall give Parent prompt
notice of any written demands received by the Company for appraisal of shares. The Company shall not, except with Parent’s prior written consent, voluntarily make any payment with respect to or offer to settle or settle any demands for
appraisal for Dissenting Shares. 
 ARTICLE 4 
 COMPANY REPRESENTATIONS AND WARRANTIES 
 The Company hereby represents and warrants to Parent and
Merger Sub as follows: 
 4.1 Organization and Qualification; Subsidiaries. 
 (a) The Company is a corporation organized, validly existing and in good standing under the laws of the State of Ohio. Each Subsidiary of the Company
(each a “Company Subsidiary” and, collectively, the “Company Subsidiaries”) has been organized, and is validly existing and in good standing, under the laws of the jurisdiction of its incorporation or organization,
as the case may be. The Company and each Company Subsidiary has the requisite power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted and as currently proposed by it to be conducted. The
Company and each Company Subsidiary is duly qualified or licensed to do business, and is in good standing, in each jurisdiction set forth in Section 4.1(a) of the Company Disclosure Letter where the character of the properties owned,
leased or operated by it or the nature of its business makes such qualification, licensing or good standing necessary, except where the failure to be so qualified, licensed or in good standing would not reasonably be expected to have a Material
Adverse Effect. 
  

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 (b) Section 4.1(b) of the Company Disclosure Letter sets forth a true, correct and complete
list of all of the Company Subsidiaries and former subsidiaries of the Company that have been dissolved or divested within the 58-month period prior to the date hereof and the jurisdictions of their incorporation or organization and date of
dissolution or divestiture, as the case may be. None of the Company or any Company Subsidiary holds an Equity Interest in any Person other than a Company Subsidiary. Except as set forth in Section 4.1(b) of the Company Disclosure Letter,
the Company is the direct or indirect owner of all of the issued and outstanding Equity Interests of each Company Subsidiary, and all such Equity Interests are duly authorized, validly issued, fully paid and nonassessable. All of the issued and
outstanding Equity Interests of each Company Subsidiary owned directly or indirectly by the Company are free and clear of all Encumbrances. 
 (c) The Company has made available to Parent copies of all certificates or articles of incorporation, bylaws, and other organizational documents of the Company and each Company Subsidiary, as currently in effect. 
 (d) Except as set forth in Section 4.1(d) of the Company Disclosure Letter, neither the Company nor any Company Subsidiary is a partner or
member of (nor are any part of their respective businesses conducted through) any partnerships or limited liability companies, and neither the Company nor any Company Subsidiary is a participant in any joint venture or similar arrangement with any
third party. With respect to any joint venture or similar arrangement listed on Section 4.1(d) of the Company Disclosure Letter, copies of all material agreements pertaining to such joint venture or arrangement have been provided or made
available to Parent, in each case as are currently in effect. 
 4.2 Capitalization. 
 (a) The authorized capital stock of the Company consist of (i) 40,000,000 shares of Company Common Stock, (ii) 800,000 serial preferred shares
with voting rights, without par value, of which 500,000 shares are designated as Series A Junior Participating Preferred Shares (the “Series A Preferred Stock”) and 50,000 shares are designated as Series B Cumulative Redeemable
Voting Preferred Stock (the “Series B Preferred Stock,” and, together with the Series A Preferred Stock, the “Company Preferred Stock”), and (iii) 200,000 serial preferred shares without voting rights, without
par value. As of the date of this Agreement, (i) 9,551,843 shares of Company Common Stock (other than treasury shares) were issued and outstanding, all of which were validly issued and fully paid and nonassessable and 46,445 shares of Company
Common Stock were held in the treasury of the Company, (ii) no shares of Series A Preferred Stock were issued or outstanding, and (iii) 13,000 shares of Series B Preferred Stock were issued and outstanding, all of which were validly issued
and fully paid and nonassessable. No shares of serial preferred shares without voting rights, without par value, have been designated for issuance or issued. Except for the Company Options, the Company Warrants and the Series B Preferred Stock,
there are no shares of capital stock or securities convertible into or exchangeable for or rights to acquire shares of capital stock of the Company authorized, issued, outstanding or reserved for issuance. 
 (b) As of the date of this Agreement, the Company has reserved 8,542,654 shares of Company Common Stock for issuance to employees, non-employee directors
and consultants pursuant to the Company Stock Option Plans, of which 6,337,438 shares are subject to outstanding and unexercised stock options and 2,160,883 shares remain available for issuance thereunder. Upon the issuance of any share of Company
Common Stock upon the exercise of Company Options prior to the Effective Time on the terms and conditions specified in the instruments pursuant to which such share is issuable, such share will be duly authorized, validly issued, fully paid and
nonassessable. Section 4.2(b) of the Company Disclosure Letter sets forth a true, correct and complete list of all Company Options which will be vested and fully exercisable at the Effective Time, whether pursuant to their terms or the
transactions contemplated herein, including the names of the holders of such Company Options, the number of shares 

  

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underlying such Company Options, and the respective exercise prices thereof. Upon the issuance of any share of Company Common Stock upon the exercise of
Company Options prior to the Effective Time on the terms and conditions specified in the instruments pursuant to which such share is issuable, such share will be duly authorized, validly issued, fully paid and nonassessable. 
 (c) As of the date of this Agreement, there are outstanding and unexercised Company Warrants to purchase 16,952,632 shares of Company Common Stock. Upon
the issuance of any share of Company Common Stock upon the exercise of Company Warrants prior to or at the Effective Time on the terms and conditions specified in the instruments pursuant to which such share is issuable, such share will be duly
authorized, validly issued, fully paid and nonassessable. Section 4.2(c) of the Company Disclosure Letter sets forth a true, correct and complete list of all Company Warrants which will be held and fully exercisable at the Effective
Time, whether pursuant to their terms or the transactions contemplated herein, including the names of the holders of such Company Warrants, the number of shares underlying such Company Warrants, and the respective exercise prices thereof. Upon the
issuance of any share of Company Common Stock upon the exercise of Company Warrants prior to or at the Effective Time on the terms and conditions specified in the instruments pursuant to which such share is issuable, such share will be duly
authorized, validly issued, fully paid and nonassessable. 
 (d) Except as provided in the Company Stock Option Plans, the Company’s
agreements granting Company Options, the Company Articles of Incorporation, the Investor and Registration Rights Agreement, the Company Warrants and the Note and Equity Purchase Agreement, there are no outstanding contractual obligations of the
Company or any Company Subsidiary (i) restricting the transfer of, (ii) affecting the voting rights of, (iii) requiring the repurchase, redemption or disposition of, or containing any right of first refusal with respect to,
(iv) requiring the registration for sale of, or (v) granting any preemptive or anti-dilutive right with respect to, any shares of Company Common Stock or any other Equity Interests in the Company or any Company Subsidiary. 
 4.3 Authority. 
 (a) The Company has
the requisite corporate power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated by this Agreement (other than the Company Shareholders Approval). The execution
and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action (other than the Company Shareholders Approval). This
Agreement has been duly authorized and validly executed and delivered by the Company and (assuming the valid authorization, execution and delivery of this Agreement by Parent and Merger Sub) constitutes a legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms, subject only to the effect, if any, of (i) applicable bankruptcy, insolvency, moratorium or other similar Laws affecting the rights of creditors generally and
(ii) rules of Law governing specific performance, injunctive relief and other equitable remedies. The affirmative vote of (i) the holders of a majority of all shares of Company Common Stock issued and outstanding on the record date set for
the meeting of the Company’s shareholders (the “Company Shareholders Meeting”), together with the holders of the Series B Preferred Stock, voting as set forth in Article Fourth, Section (d)(5)(ii) of the Company Articles of
Incorporation and (ii) the holders of a majority of all shares of Series B Preferred Stock issued and outstanding on the record date, voting as set forth in Article Fourth, Section (d)(6) of the Company Articles of Incorporation to adopt this
Agreement (the “Company Shareholders Approval”) is the only vote of the holders of capital stock of the Company necessary to adopt this Agreement and effectuate the Merger under applicable Law and the Company Articles of
Incorporation. 
  

 22 

 (b) The Company has taken all appropriate actions so that the restrictions on “Chapter 1704.
transactions” contained in Chapter 1704 of the Ohio Revised Code shall not apply with respect to, or as a result of, this Agreement and the transactions contemplated hereby (including the Merger) without any further action on the part of the
Company’s shareholders or the Company Board. 
 4.4 No Conflict; Required Filings and Consents. 
 (a) Except as set forth in Section 4.4(a) of the Company Disclosure Letter, the execution and delivery of this Agreement by the Company do
not, and the performance of this Agreement by the Company will not, (i) conflict with or violate any provision of the Company Articles of Incorporation or Company Bylaws or any equivalent organizational documents of any Company Subsidiary,
(ii) subject to obtaining the Company Shareholders Approval and assuming that all consents, approvals, authorizations and permits described in Section 4.4(b) have been obtained and all filings and notifications described in
Section 4.4(b) have been made and any waiting periods thereunder have terminated or expired, conflict with or violate any Law applicable to the Company or any Company Subsidiary, or by which any property or asset of the Company or any
Company Subsidiary is bound or affected, including the Real Property and Facilities, or (iii) result in any breach of, constitute a default under, cause any loss of any material benefit under, or give to others any right of termination or
cancellation pursuant to, any Material Contract or Leased Real Property. 
 (b) No filing or registration with, or authorization, consent or
approval of, any Governmental Entity (other than filings, registrations, authorizations, consents and approvals, the failure of which to make or obtain would not have a Company Material Adverse Effect) is required by the Company or any Company
Subsidiary in connection with the execution and delivery of this Agreement by the Company or is necessary for the consummation by the Company of the Merger except under the Antitrust Laws, and the filing of the Certificate of Merger as required by
the OGCL, or as otherwise set forth in Section 4.4(b) of the Company Disclosure Letter. 
 4.5 Permits; Compliance with
Law. 
 (a) Section 4.5(a) of the Company Disclosure Letter sets forth a true, correct and complete list of all material
authorizations, licenses, Permits, certificates, registrations, approvals and clearances of any Governmental Entity (excluding Environmental Permits which are treated exclusively in Section 4.11) that are necessary for the Company and
each Company Subsidiary to own, lease and/or operate its properties or other assets, or to carry on its respective businesses substantially as they are being conducted as of the date hereof (the “Company Permits”). All of the
Company Permits have been issued to the Company or a Company Subsidiary and are in full force and effect, and, to the Knowledge of the Company, there are no reasonable grounds to believe that any such Company Permit shall not be renewed upon
expiration. 
 (b) Except as set forth in Section 4.5(b) of the Company Disclosure Letter, (i) no Company Permit has been
revoked or suspended within the preceding three years, (ii) neither the Company nor any Company Subsidiary has been involved in a Proceeding or, to the Knowledge of the Company, investigation, whether formal or informal, to revoke, suspend,
limit or restrict any Company Permit within the preceding three years, (iii) neither the Company nor any Company Subsidiary has been notified in writing by any Governmental Entity or other Person that there is cause to revoke, suspend, limit or
restrict any Company Permit, and neither the Company nor any Company Subsidiary has been notified orally by any Governmental Entity or other Person that there is cause to revoke, suspend, limit or restrict any Company Permit that is material to the
Company and the Company Subsidiaries, taken as a whole, and (iv) to the Knowledge of the Company, no such revocation, suspension, limitation or restriction is threatened by any Governmental Entity, except, with respect to clauses
(i) through (iv), for 

  

 23 

 
(A) matters related to Taxes which are treated exclusively in Section 4.13, (B) matters related to Environmental Laws or Hazardous
Substances which are treated exclusively in Section 4.11 and (C) matters related to Company Benefit Plans which are treated exclusively in Section 4.8. 
 (c) Except as disclosed on Section 4.5(c) of the Company Disclosure Letter, and except with respect to Environmental Laws, which are covered
in Section 4.11, Taxes, which are covered by Section 4.13, and Company Benefit Plans, which are covered by Section 4.8, (i) each of the Company and the Company Subsidiaries have been during the three-year
period prior to the date hereof in compliance in all material respects with all Laws applicable to their respective operations, (ii) neither the Company nor any Company Subsidiary has, during the three-year period prior to the date hereof,
received any notice of or been charged with the violation of any Laws with respect to the business, assets, Facilities and/or Real Property of the Company or any Company Subsidiary which has not been resolved; and (iii) neither the Company nor
any Company Subsidiary has, during the three-year period prior to the date hereof, received notice that it is under investigation with respect to the violation of any Laws with respect to the business, assets, Facilities and/or Real Property of the
Company or any Company Subsidiary which has not been resolved. 
 4.6 Public Reports; Financial Statements. 
 (a) Each of the consolidated financial statements (including, in each case, any related notes thereto) contained in the Company Periodic Reports and the
unaudited consolidated balance sheet of the Company as of December 31, 2008 (the “Company Balance Sheet” and such date, the “Company Balance Sheet Date”), and the related unaudited statements of income, change
in stockholders’ equity, and cash flow for the 9-month period, as delivered to the Acquirors (the “Company Financial Statements”), including each Company Periodic Report filed after the date of this Agreement until the Closing
(i) was prepared in accordance with GAAP applied on a consistent basis throughout the periods involved (except as may be indicated in the notes thereto), and (ii) were prepared in accordance with the accounting records of the Company and
the Company Subsidiaries in all material respects and (iii) fairly present, in all material respects, the consolidated financial position of the Company and the Company Subsidiaries and the consolidated results of the Company’s and the
Company Subsidiaries’ operations and cash flows, in each instance as of the respective dates and for the periods set forth therein, except that the unaudited interim financial statements may not contain footnotes and were or are subject to
normal and recurring immaterial year-end adjustments in accordance with GAAP. Neither the Company nor any Company Subsidiary has any liabilities required under GAAP to be set forth in the liabilities column of a balance sheet prepared as of
December 31, 2008 that are, individually or in the aggregate, material to the business, results of operations or financial condition of the Company and the Company Subsidiaries taken as a whole, except for (A) liabilities incurred since
the Company Balance Sheet Date in the ordinary course of business consistent with past practice, (B) those specifically set forth or specifically and adequately reserved against in the Company Balance Sheet, (C) the fees and expenses of
investment bankers, attorneys and accountants incurred in connection with this Agreement, (D) payments pursuant to employment agreements, as amended, in connection with a change of control of the Company, as defined therein, but, with respect
to this clause (D), only to the extent specifically set forth on Section 4.6(a)(D) of the Company Disclosure Letter, and (E) any deficit under the UK Pension. 
 (b) Each of the Company Periodic Reports as of the date it was first made available by the Company on www.pinksheets.com (or, if amended or
superseded by a subsequent report prior to the date hereof, on the date of such subsequent report) did not contain any untrue statement of a material fact or omit to state a 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. 
  

 24 

 4.7 Absence of Certain Changes or Events. Except (i) as set forth on Section 4.7
of the Company Disclosure Letter and (ii) as permitted by Section 6.1, after November 30, 2008 until the date hereof, the Company and each Company Subsidiary have conducted their business in the ordinary course consistent with
past practice, and there have not been any changes, circumstances or events which have had or would reasonably be expected to have a Material Adverse Effect. Except as set forth on Section 4.7 of the Company Disclosure Letter, after
November 30, 2008 until the date hereof, neither the Company nor any Company Subsidiary has: 
 (a) failed to maintain and repair any
property or asset of the Company or any Company Subsidiary (including the making of scheduled capital expenditures) in the ordinary course of business, normal wear and tear excepted; 
 (b) created any new Encumbrance on any property or asset of the Company or any Company Subsidiary, other than Permitted Exceptions; 
 (c) except in the ordinary course of business, waived or released any material right relating to the business or any asset or property of the Company or
of any Company Subsidiary; 
 (d) except as required by Law or this Agreement, (i) granted any severance or termination pay to any
employee of the Company or any Company Subsidiary, (ii) entered into any employment agreement (or any amendment to any such existing agreement) with any employee of the Company or any Company Subsidiary, (iii) increased benefits payable
under or, except as expressly required by this Agreement, conditions concerning eligibility to receive benefits under any existing severance or termination pay policies or employment agreements with respect to any employee of the Company or any
Company Subsidiary, (iv) established, amended or terminated any Company Benefit Plan, or (v) increased compensation, bonus or other benefits payable to any employee of the Company or any Company Subsidiary, other than, in the case of
clauses (i) through (v) above, in the ordinary course of business; 
 (e) sold, assigned or otherwise transferred, or agreed to
sell, assign or otherwise transfer, any of the business or any property or asset of the Company or any Company Subsidiary, or any of the Company’s or a Company Subsidiary’s interest therein (except for sales, assignments, and transfers
(i) in the ordinary course of business, (ii) of equipment that was no longer used or useful, and (iii) between the Company and the Company Subsidiaries or between the Company Subsidiaries); 
 (f) made any change in any accounting principle or costing methodology with respect to the business, properties or assets of the Company or any Company
Subsidiary, except to the extent required by GAAP; 
 (g) made any election with respect to Taxes or settled or compromised (or agreed to
settle or compromise) any liability for Taxes, except with respect to settlements of any matters for an amount equal to or less than the amount of reserves for such matter reflected on the Company Balance Sheet; 
 (h) committed to make a capital expenditure or other addition or improvement to property, buildings and equipment, in each case that is anticipated to
have an outstanding balance in excess of $50,000; 
 (i) settled any Proceedings involving payment of more than $50,000; 
  

 25 

 (j) suffered any damage, destruction or other casualty loss (whether or not covered by insurance)
affecting the business or any property or asset of the Company or any Company Subsidiary which, individually or in the aggregate, has had, or could reasonably be expected to result in, a Material Adverse Effect; or 
 (k) except as set forth on Section 4.7(k) of the Company Disclosure Letter, written off any accounts receivable of the Company or any Company
Subsidiary in a material amount without adequate consideration. 
 4.8 Employee Benefit Plans; Labor and Employment Matters.

 (a) Section 4.8(a) of the Company Disclosure Letter lists each of the Company Benefit Plans. 
 (b) Neither the Company nor any Company Subsidiary maintains or is obligated to provide benefits under any life, medical or health plan (other than as an
incidental benefit under a Company Benefit Plan intended to be “qualified” within the meaning of Section 401(a) of the Code (a “Qualified Plan”)) which provides benefits to retirees or other terminated employees other
than benefit continuation rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). 
 (c) Neither the Company, any Company Subsidiary, nor any ERISA Affiliate has at any time contributed to or has any obligation to contribute to or has any liability (contingent or otherwise) to any “employee benefit plan” (as
defined in Section 3(3) of ERISA) that is subject to Title IV of ERISA or Section 412 of the Code, including any “multiemployer plan,” as that term is defined in Section 4001 of ERISA. 
 (d) Each of the Company Benefit Plans is currently in compliance in all material respects with ERISA and the Code and all other applicable Laws and has
been operated in all material respects in accordance with the terms and provisions of the plan document and all related documents and policies. 
 (e) The Company and the Company Subsidiaries have performed all of their material obligations under all Company Benefit Plans, and all contributions and other payments required to be made by the Company or any Company Subsidiary to any
Company Benefit Plan have been made or reserves adequate for such contributions or other payments have been set aside therefor and have been reflected in the Company Balance Sheet. 
 (f) The Company has not received notice of any Proceeding or threatened Proceeding by the IRS, the Department of Labor, the Pension Benefit Guaranty
Corporation, or any other third party or Governmental Entity with respect to any Company Benefit Plan, and there are no pending or, to the Knowledge of the Company, threatened claims with respect to any Company Benefit Plan, or by any Person covered
thereby, other than ordinary claims for benefits submitted by participants or beneficiaries. 
 (g) No employer securities, employer real
property or other employer property is included in the assets of any Company Benefit Plan. 
  

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 (h) The Company made available to Parent true, correct and complete copies of: 
 (i) the current Company Benefit Plan document and any amendments thereto for each Company Benefit Plan and copies of any related trusts,
and (A) the most recent summary plan descriptions of such Company Benefit Plans for which the Company or any Company Subsidiary is required to prepare, file, and distribute summary plan descriptions, and (B) the most recent copy of all
summaries and descriptions furnished by the Company, if any, to participants and beneficiaries regarding Company Benefit Plans for which a plan description or summary plan description is not required; 
 (ii) the Form 5500 filed in each of the most recent three (3) plan years with respect to each Company Benefit Plan, including all
schedules thereto and any opinions of independent accountants relating thereto; 
 (iii) all insurance policies or agreements
regarding other funding arrangements that are currently in force which were purchased by or that provide benefits under any Company Benefit Plan or otherwise reimburse for benefits paid under the Company Benefit Plans; 
 (iv) all agreements that are currently in force with third party administrators, investments managers, consultants and service providers
relating to any Company Benefit Plan and any and all written reports, including discrimination testing, submitted to the Company or any Company Subsidiary by such third party administrators, investment managers, consultants and service providers
within the three (3) years preceding the date hereof; and 
 (v) with respect to Company Benefit Plans that are Qualified
Plans, the most recent determination letter for each such Company Benefit Plan. 
 (i) Except for any formal written qualification
requirement with respect to which the remedial amendment period set forth in Section 401(b) of the Code, and any regulations, rulings or other IRS releases thereunder, has not expired (i) each Company Benefit Plan that is intended to be a
Qualified Plan has received a favorable determination letter from the IRS and is qualified under Section 401(a) of the Code, and each trust for each such Company Benefit Plan is exempt from federal Income Tax under Section 501(a) of the
Code and (ii) no event has occurred or circumstance exists that gives rise to disqualification or loss of tax-exempt status of any such Company Benefit Plan or trust. 
 (j) Except as provided in Section 4.8(j) of the Company Disclosure Letter, the transactions contemplated by this Agreement shall not
(i) result in any additional payment (including any severance payment) to, or any benefit accrual under, (ii) increase any vested interest in, a Company Benefit Plan or otherwise for any employee or any dependent of such employee, or
(iii) require the Company or any Company Subsidiary to make any payment that would constitute an “excess parachute payment” for purposes of Sections 280G and 4999 of the Code. 
 (k) Except as indicated on Section 4.8(k) of the Company Disclosure Letter (i) all agreements and plans providing for “deferral of
compensation” as defined under Section 409A of the Code have been maintained in good faith compliance with Section 409A of the Code (and applicable regulations or other applicable guidance issued by the IRS with respect to
Section 409A of the Code) and all of such agreements and plans have been amended to comply with the final regulations under Section 409A of the Code, or (ii) are grandfathered from, and not subject to, Section 409A of the Code.

  

 27 

 (l) The Company and each Company Subsidiary has paid in full to all employees, independent contractors
and consultants all wages, salaries, commissions, bonuses, benefits, and other compensation due to or on behalf of such employees, independent contractors or consultants in accordance with applicable Law. Neither the Company nor any Company
Subsidiary is liable for any payment to any trust or other fund or to any Governmental Entity, with respect to unemployment compensation benefits, social security or other benefits or obligations for employees (other than routine payments to be made
in the normal course of business and consistent with past practice). Except as set forth in Section 4.10 of the Company Disclosure Letter, there are no Proceedings pending or, to the Knowledge of the Company, threatened, between the
Company or any Company Subsidiary and any of their respective employees, which Proceedings have or could reasonably be expected to result in an action, suit, proceeding, claim, arbitration or investigation before any Governmental Entity. 

(m) Neither the Company nor any Company Subsidiary is a party to or bound by any collective bargaining agreement or other labor union Contract and no
collective bargaining agreement is being negotiated by the Company or any Company Subsidiary. There is no pending demand for recognition or, to the Knowledge of Company, any other request or demand from a labor organization for representative status
with respect to any Person employed by the Company or any Company Subsidiary. The Company has no Knowledge of any activities or proceedings of any labor union seeking to organize its employees. There is no labor dispute, strike or group work
stoppage against the Company or any Company Subsidiary pending or, to the Knowledge of Company, threatened involving employees of the Company or any Company Subsidiary. There is no charge or complaint against the Company or any Company Subsidiary by
the National Labor Relations Board or any comparable Governmental Entity pending or, to the Knowledge of the Company, threatened. 
 (n)
Neither the Company nor any Company Subsidiary has taken any action that could constitute a “mass layoff’ or “plant closing” within the meaning of the WARN Act or that could otherwise trigger any notice requirement or material
liability under any local or state plant closing notice Law with respect to the business of the Company or any Company Subsidiary, and no such actions are contemplated. 
 (o) Except as set forth in Section 4.18(o) of the Company Disclosure Letter with respect to the UK Pension, 
 (i) full material documentation and all material details regarding the UK Pension have been disclosed to the Parent and all information which has been made available to the Parent or its advisers on or before the date
of this Agreement is true, correct, complete and fairly presented, 
 (ii) such pension, was established under irrevocable
trusts and was at all times exempt approved under Chapter 1 of the Part XIV of the Income and Corporation Taxes Act 1988 and is a registered pension scheme, complies and has at all times complied with, all applicable primary and secondary
legislation relative to occupational pension schemes (including European Law) and has been operated in accordance with the requirements of HM Revenue and other relevant authorities and within the trusts, powers and provisions of its governing
documents, 
 (iii) UK Corrpro has at all times complied with the provisions of all relevant statutes, regulations and
requirements (including without limitation the requirements of the Pensions Act 1995 all regulations made under it, the Pensions Act 2004 and all regulations made under it, the Finance Act 2004 and all regulations made under it and the Pension
Schemes Act 1993 and all regulations made under it), Article 141 of the Treaty 

  

 28 

 
of Rome (notwithstanding any provision of the UK Pension) and within the trusts, powers and provisions of the documents governing the UK Pension and the
applicable requirements of Law, 
 (iv) the UK Pension is and will continue to be funded to such level as is sufficient to
ensure that there is no obligation to notify the Pensions Regulator of the Closing, of the change in control of UK Corrpro or of any omission in relation to the UK Pension under section 69 of the Pensions Act 2004, 
 (v) a true, correct and complete disclosure of the assets, investments or policies held by the Final Salary Scheme Trustees have been
disclosed to Parent along with a true, correct and complete copy of policy 32521-7/000 and the policies relating to the Final Salary Scheme Members’ additional voluntary contributions, 
 (vi) all amounts payable by UK Corrpro (and for the avoidance of doubt any other employers who participated in the UK Pension) to the
Final Salary Scheme Trustees or any insurance company have been deducted and paid to the Final Salary Scheme Trustees or insurance company, as applicable, 
 (vii) the information contained in the last actuarial valuation of the UK Pension at March 31, 2006 (the “UK Valuation”) is true and accurate in all respects on the basis of the assumptions
referred to therein including that (y) contributions to the UK Pension have been paid at £9,900 per month; and (z) no changes have been made in the benefit structure of the UK Pension as summarized in the UK Valuation,

 (viii) no liability has arisen under section 75 of the Pensions Act 1995 or the Pensions Act 2004 or otherwise including as
a result of a participating employer ceasing to participate in the UK Pension, 
 (ix) no undertakings or assurances have been
given or implied to the Final Salary Scheme Members or discretions have been exercised under the UK Pension as to the introduction, continuance, increase or improvement of any retirement/death/disability benefit (for purposes of this
Section 4.8(o), the phrase “retirement/death/disability benefit” means any pension, lump sum, gratuity or other like benefit given or to be given on retirement or on death, or in anticipation of retirement, or, in connection
with past service, after retirement or death, or to be given on or in anticipation of or in connection with any change in the nature of the service of the employee in question or given or to be given on or in connection with the illness, injury or
disability of, or suffering of any accident by, an employee), 
 (x) no contribution notice, financial support direction
restoration order or other notice, order or direction has been issued by the Pensions Regulator with respect to the Company or any Company Subsidiary or with respect to any other Person in relation to the UK Pension and to the Knowledge of the
Company or any Company Subsidiary, no proposals to issue any such notice, order or direction and there are no circumstances which could give rise to any such notice, order or direction, 
 (xi) there are no claims or actions actual, threatened or pending in respect of the UK Pension (including reports to the Pensions
Regulator by the Final Salary Scheme Trustees, professional advisers or any third parties) or regarding the provisions of incapacity, ill-health, early retirement pensions or death benefits generally for current or 

  

 29 

 
former officers or employees of UK Corrpro (for purposes of Sections 4.8 (o) and (p), “employee” includes a director and any officer of UK
Corrpro whether or not he or she has entered into or works under (or, where the employment has ceased, worked under) a contract of employment), 
 (xii) there are no complaints under the Final Salary Scheme Trustees’ internal dispute resolution procedure (details of which have been disclosed to the Final Salary Scheme Members), or arbitrations, mediations,
Pension Ombudsmen complaints, complaints to the Pensions Regulator, actions, suits or claims in progress, pending or threatened by any of the Final Salary Scheme Members or employees of UK Corrpro and there is no fact or circumstances likely to give
rise to any such proceedings, and 
 (xiii) UK Corrpro has not incurred any penalties, fines or other sanctions under the
Pensions Act 1995 or Pensions Act 2004 and there are no circumstances which may give rise to any such penalties, fines or sanctions. 
 (p)
With respect to the Money Purchase Scheme, 
 (i) all material documentation and all material details regarding the Money
Purchase Scheme have been disclosed to the Parent and all information which has been made available to the Parent or its advisers on or before the date of this Agreement is true, correct, complete and fairly presented, 
 (ii) every person who is eligible to participate in the Money Purchase Scheme has been invited to participate therein as of the date on
which such person became so eligible, 
 (iii) all due contributions and expenses in respect of the Money Purchase Scheme have
been paid as and when due, 
 (iv) all documents and other communications issued to UK Corrpro’s employees relating to
the Money Purchase Scheme comply with the Financial Services and Markets Act 2000 and the Money Purchase Scheme has at all times been operated in accordance with all applicable Laws including the age discrimination legislation, and 
 (v) the Money Purchase Scheme satisfies such requirements as are set out in Regulation 22 of the Stakeholder Pension Schemes Regulations
2000 (as amended) so that the UK Corrpro does not need to comply with the stakeholder pension employer requirements referred to in Part IV of such Regulations and section 3 of the Welfare Reform and Pensions Act 1999 (as amended). 
 (q) Apart from the UK Pension and the Money Purchase Scheme, UK Corrpro has not and does not participate in or have any liability in respect of or is
contributing to any retirement benefits pension or life assurance scheme or arrangement, fund or personal pension scheme or stakeholder arrangement whether in the United Kingdom or overseas relating to any of its present or past directors or
employees or those claiming through them or under any legal or ex-gratia obligation or obligation established by custom to provide any retirement/death/disability benefit to or in respect of any such director, or employee or Person claiming through
them. No proposal has been announced or implied to establish or contribute to any other such scheme or fund. 
  

 30 

 4.9 Contracts. 
 (a) Section 4.9 of the Company Disclosure Letter lists each of the Material Contracts that are in effect or otherwise binding on the Company or any Company Subsidiary or their respective properties or
assets. The term “Material Contract” means: 
 (i) a Contract with any labor union or association;

 (ii) a note, loan, credit agreement or other Contract relating to: (A) the borrowing of money (including derivative or
hedging instruments) by the Company or any Company Subsidiary in connection with the business, properties or assets of the Company or any Company Subsidiary, or (B) the direct or indirect guarantee or assumption by the Company or any Company
Subsidiary of the obligation of any other Person with respect to the business, properties or assets of the Company or any Company Subsidiary, in any case of clause (A) or (B), involving in excess of $50,000; 
 (iii) a lease or similar agreement under which the Company or any Company Subsidiary is a lessee of, or holds or operates, any real
property owned by any third party, in any case, which call for annual rental payments in excess of $150,000 in any year; 
 (iv) a Contract involving future payment for goods or services by the Company or any Company Subsidiary of more than $150,000 annually, except for any purchase orders arising in the ordinary course of business; 
 (v) a Contract involving the obligation of the Company or any Company Subsidiary to deliver in the future goods or services for payment of
more than $150,000 annually, except for any purchase orders arising in the ordinary course of business; 
 (vi) a Contract
evidencing any lien on any of the assets or properties of the Company or any Company Subsidiary (other than Permitted Exceptions and liens which may arise as a result of operating leases); 
 (vii) a Contract for a joint venture, strategic alliance, partnership or sharing of profits, in each case involving equity ownership by
the Company or any Company Subsidiary, or a Contract relating to a licensing arrangement or sharing of proprietary information involving the Company or any Company Subsidiary outside of the ordinary course of business; 
 (viii) a Contract containing covenants of the Company or any Company Subsidiary not to compete in any line of business or with any Person
in any geographical area or not to solicit or hire any Person with respect to employment or covenants of any other Person not to compete with the Company or any Company Subsidiary in any line of business or in any geographical area or not to solicit
or hire any Person with respect to employment; 
 (ix) a Contract relating to the acquisition (by merger, purchase of stock or
assets or otherwise) by the Company or any Company Subsidiary of the capital stock or any operating business or material assets (excluding goods and services acquired in the ordinary course of business) of any other Person in each case, that has not
been consummated or that have been consummated within the 58-month period prior to the date hereof; 
  

 31 

 (x) a Contract relating to the sale or divestiture within the 58-month period prior to
the date hereof of any subsidiary (by dissolution, merger, sale of stock or all or substantially all assets or otherwise) or any sale or relinquishment within the 58-month period prior to the date hereof of real property (by sale, lease expiration,
lease termination or otherwise) by the Company or any Company Subsidiary; 
 (xi) a sharing agreement pertaining to Taxes; or

 (xii) any Contract that would be required to be filed as an exhibit to an Annual Report on Form 10-K pursuant to
Item 601(b)(10) of Regulation S-K under the Securities Act if such Form 10-K were filed on the date of this Agreement. 
 (b) Except as
set forth in Section 4.9(b) of the Company Disclosure Letter, each Material Contract (i) constitutes a valid and binding obligation of the Company or the Company Subsidiaries party thereto, (ii) is in full force and effect and
(iii) is not terminable by the other party thereto by reason of the transaction contemplated by this Agreement. Neither the Company nor any Company Subsidiary is in default or breach under any Material Contract, nor, to the Knowledge of the
Company, is any other party thereto. 
 4.10 Litigation. Except as set forth in Section 4.10 of the Company Disclosure
Letter, (i) there is no Proceeding pending or, to the Company’s Knowledge, threatened against the Company or any Company Subsidiary and (ii) none of the Company or any Company Subsidiary is subject to any outstanding order, writ,
judgment, injunction, decree, or arbitration ruling or award; other than with respect to clauses (i) and (ii) for matters that would not reasonably be expected to result in damages to the Company or the Company Subsidiaries in excess of
$50,000. 
 4.11 Environmental Matters. Except as identified in Section 4.11 of the Company Disclosure Letter: 

(a) The Company’s and the Company Subsidiaries’ operation of their respective business, of the Facilities and of the Real Property is in
compliance with, and for the past 58 months have complied in all material respects with, all applicable Environmental Laws and lease obligations relating to the Environment or Environmental Law. 
 (b) Section 4.11(b) of the Company Disclosure Letter sets forth a true, correct and complete list of all Environmental Permits that are
necessary for the Company and each Company Subsidiary to own, lease and/or operate their respect businesses, the Facilities and the Real Property in connection with Environmental Laws. The Company and the Company Subsidiaries are in compliance with
the Environmental Permits. The Environmental Permits are in full force and effect, and, to the Knowledge of the Company, there are no reasonable grounds to believe that any such Environmental Permit shall not be renewed upon expiration. No
Environmental Permit has been revoked or suspended within the preceding two years. Neither the Company nor any Company Subsidiary has been involved in a Proceeding or, to the Knowledge of the Company, investigation, whether formal or informal, to
modify, revoke, suspend, limit or restrict any Environmental Permit within the preceding two (2) years. Neither the Company nor any Company Subsidiary has been notified in writing by any Governmental Entity or other Person that there is cause
to revoke, suspend, limit or restrict any Environmental Permit. To the Knowledge of the Company, no such revocation, suspension, limitation or restriction is threatened by any Governmental Entity, and, where necessary to obtain timely renewal
of any such Environmental Permit, the Company and the Company Subsidiaries have applied for renewal of such Environmental Permit. 
  

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 (c) The Company and the Company Subsidiaries have never been subject to any Environmental Claim resulting
in Losses (excluding attorneys’ fees) in excess of $25,000, there are no pending or unresolved Environmental Claims against the Company and the Company Subsidiaries and the Company and the Company Subsidiaries have not received any written
notice regarding any threatened and unresolved Environmental Claim. 
 (d) Neither the Company nor any Company Subsidiary has ever Released
any Hazardous Substances at the Real Property, or at any formerly owned, leased or operated property or at any other property in violation of Environmental Law that would give rise to any Environmental Claim. 
 (e) There are no Hazardous Substances present at, on, under or emanating to or from the Facilities or Real Property or any formerly owned or operated
facilities or property of the Company or any Company Subsidiaries in violation of any Environmental Laws or any Contract (including any lease). 
 (f) The Company and the Company Subsidiaries have made available to Parent any non-privileged written reports, audits or inspections, in each case that are material and in the possession of the Company or a Company Subsidiary, regarding
compliance with Environmental Laws or the Environmental Condition of the Facilities or the Real Property, or regarding property formerly owned or operated by the Company or a Company Subsidiary. 
 (g) To the Knowledge of the Company, (i) neither the Company nor any Company Subsidiary has been identified or listed as a potentially responsible
party or a responsible party for Cleanup Costs under CERCLA or RCRA or any other applicable Environmental Law, nor has the Company nor any Company Subsidiary received any information request under CERCLA from any Governmental Entity, and
(ii) no portion of the Real Property is listed or proposed for listing on the National Priorities List under CERCLA or any similar listing under any other Environmental Law. 
 (h) Neither the Company nor any Company Subsidiary has received any written communication from a Governmental Entity, Person or any citizens’ group,
employee or otherwise within the past 58-months alleging that the Company or any Company Subsidiary, or any of the Facilities, or any Real Property has violated or is in violation of any Environmental Law or Environmental Permit or is liable for any
Cleanup Costs or Cleanup of Hazardous Substances. 
 (i) Neither the Company nor any Company Subsidiary has assumed or undertaken pursuant to
a merger, consolidation, purchase of assets or similar transaction any current liability or responsibility of another Person (whether or not affiliated with the Company, any Company Subsidiary, or their predecessors or Affiliates) for Cleanup, any
Environmental Claim or other liability or responsibility under Environmental Laws. 
 (j) There are no recorded or, to the Knowledge of the
Company, enforceable unrecorded restrictions on activities or use of the Facilities or the Real Property or the groundwater beneath the Real Property arising from any Environmental Condition or pursuant to Environmental Laws and there are no
recorded or, to the Knowledge of the Company, enforceable, unrecorded covenants or requirements to install or maintain engineered barriers (such as a concrete or asphalt cap over contaminated media) arising from any Environmental Condition or
pursuant to Environmental Laws. 
 (k) The Company and the Company Subsidiaries have not entered into any Contract relating to the sale or
divestiture of any subsidiary, affiliate or real property under which Contract the Company or any Company Subsidiaries retained liability for, or agreed to indemnify and/or defend the purchaser or other Person from and against, any Environmental
Conditions, Environmental Claims, Cleanup Costs and Cleanup of or associated with such subsidiary, affiliate or real property. 
  

 33 

 (l) Neither this Agreement nor the consummation of the transaction contemplated by this Agreement will
trigger or result in (a) any responsibility or obligation under Environmental Laws for investigation, Cleanup or notification to or consent of a Governmental Entity or any other Person; or (b) any requirement to assign or transfer any
Environmental Permit. 
 (m) The representations and warranties made pursuant to this Section 4.11 are the exclusive
representations and warranties by the Company or any Company Subsidiary regarding (x) compliance with or liability under Environmental Laws, or Environmental Claims, (y) Hazardous Substances or Environmental Conditions, or (z) Cleanup
or Cleanup Costs. 
 4.12 Intellectual Property. 
 (a) The Company and the Company Subsidiaries own or have the valid right or license to all Company-Owned IP Rights. To the Company’s Knowledge, the Company and the Company Subsidiaries own or have the valid right
or license to all other Company IP Rights. Neither the Company-Owned IP Rights nor, to the Company’s Knowledge, other Company IP Rights are subject to any Encumbrances or restrictions or limitations regarding ownership, use, license or
disclosure, except to the extent specified in the applicable license agreement authorizing the Company or Company Subsidiary to use such Company IP Right. 
 (b) Neither the execution and delivery or effectiveness of this Agreement nor the performance of the Company’s obligations under this Agreement will (i) cause the forfeiture or termination of, or give rise
to a right of forfeiture or termination of, any material Company IP Right, or (ii) impair the right of the Company, any Company Subsidiary or Parent to use, possess, sell or license any Company-Owned IP Right or any portion thereof, or
(iii) materially impair the right of the Company, any Company Subsidiary or Parent to use or possess any Company IP Right or any portion thereof. 
 (c) Section 4.12 of the Company Disclosure Letter lists all Company Registered Intellectual Property, as well as applications for registration of Intellectual Property, including the jurisdictions in which
each such item of Intellectual Property has been issued or registered or in which any application for such issuance and registration has been filed. 
 (d) Each item of material Company Registered Intellectual Property is subsisting (or in the case of applications, applied for), and all registration, maintenance and renewal fees currently due in connection with such
material Company Registered Intellectual Property have been paid. 
 (e) There is no action, suit, proceeding, investigation, notice or
complaint pending or, to the Knowledge of the Company, threatened, by any Person against the Company or any Company Subsidiary before any court or tribunal relating to any Company IP Rights, nor has any claim or demand been made to the Company or
any Company Subsidiary that (i) challenges the validity, enforceability, use or ownership of any Company IP Rights or (ii) alleges that any aspect of the business of the Company or any Company Subsidiary infringes or otherwise violates any
Person’s right in or to such Person’s own Intellectual Property, nor, to the Company’s Knowledge, is there any basis for any such claim or demand. To the Company’s Knowledge, no Person is infringing, misappropriating or otherwise
violating any of the Company IP Rights. 
 (f) Section 4.12(f) of the Company Disclosure Letter sets forth a complete and
accurate list of: (i) all agreements pursuant to which the Company or any Company Subsidiary has licensed to a third party for any purpose any of the Company IP Rights; and (ii) all agreements pursuant to which the Company or any Company
Subsidiary receives a license from any third party of any Intellectual Property or Technology (excluding systems software used by the Company and the Company Subsidiaries on a corporate-wide basis and off-the-shelf software) used in connection with
the business of the Company and/or the Company Subsidiaries. 
  

 34 

 (g) The Company and the Company Subsidiaries have taken reasonable measures, consistent with practices in
their industry, to protect the confidentiality of all trade secrets included in the Company IP Rights that are material to their business. Except for disclosures made pursuant to non-disclosure agreements or other enforceable confidentiality
obligations, neither the Company nor any Company Subsidiary has disclosed or provided to any Person any confidential or trade secret materials concerning the Company IP Rights that the Company desired to maintain confidential. 
 (h) Following the Closing, except as set forth on Section 4.12(h) of the Company Disclosure Letter, (i) the Company or a Company
Subsidiary will continue to solely and exclusively own all right, title and interest in and to, or have valid and continuing rights to use, sell and license, all of its Company-Owned IP Rights, including the Company Registered Intellectual Property,
and (ii) the Company or a Company Subsidiary will have valid and continuing rights to use all other Company IP Rights to the extent the same was used by the Company and/or the Company Subsidiaries in the ordinary course of business prior to the
Closing. 
 4.13 Taxes. 
 (a) The Company and the Company Subsidiaries have timely filed all federal, state, local, and foreign Tax Returns required to have been filed by them on or before the due date thereof (taking into account timely extensions) in the manner
prescribed by applicable Laws and all such Tax Returns were true, complete and correct in all material respects and remain true and accurate in all material respects, and there is no position taken on any Tax Return for which there is not
“substantial authority” within the meaning of Section 6662 of the Code. Neither the Company, nor any Company Subsidiary, has created a permanent establishment in any foreign jurisdiction in which it is not currently filing an
appropriate income Tax Return, except as set forth in Section 4.13(a) of the Company Disclosure Letter. All Taxes of the Company and the Company Subsidiaries (whether or not shown or required to be shown on any Tax Return) that are due
and payable have been timely paid in full and the accruals and reserves for Taxes (rather than any reserve for deferred Taxes established to reflect timing difference between book and Tax income) reflected in the Company Balance Sheet are adequate
to satisfy all unpaid Taxes and deferred Taxes of the Company and the Company Subsidiaries for all Pre-Closing Tax Periods and any Taxes relating to any Straddle Period to the extent attributable to the portion of such Straddle Period through and
including the Closing Date (the “Pre-Closing Straddle Period”). All reserves for Taxes as adjusted for operations and transactions and the passage of time through the Closing Date are adequate to satisfy all unpaid Taxes of the
Company and the Company Subsidiaries accruing through the Closing Date (but specifically excluding, for the avoidance of doubt, all employment Taxes due on (i) the Company Options that will be accelerated in connection with the Merger and
(ii) bonuses paid in connection with the Merger). The Company has made available to Parent correct and complete copies of all federal, state, local and foreign income Tax Returns and amendments thereto filed by the Company and each Company
Subsidiary since December 31, 2003 and all examination reports and statements of deficiencies received by or agreed to by any of them with respect to any income Tax Return since December 31, 2003. 
 (b) The Company and the Company Subsidiaries timely have withheld and paid over all Taxes required to have been withheld and paid over and complied in
all material respects with all information reporting and backup withholding requirements, including the maintenance of required records with respect thereto, in connection with amounts paid or owing to any employee, creditor, independent contractor
or other third party, and all Tax Returns required with respect thereto have been properly completed in all material respects and timely filed. The Company and the Company Subsidiaries have timely made all estimated tax payments required to be made
for Income Taxes in all jurisdictions, for the tax year ending March 2009. 
  

 35 

 (c) Except as set forth in Section 4.13(c) of the Company’s Disclosure Letter, in the
last five (5) years, there have been no audits or examinations of the Company’s or any Company Subsidiary’s Tax Returns or Proceedings relating to the Company or any Company Subsidiary in respect of Taxes, and, to the Knowledge of
Company, there are no such audits, examinations or Proceedings threatened. Each deficiency resulting from any audit or examination relating to Taxes of the Company or any Company Subsidiary by any Tax Authority has been paid or, except as set forth
in Section 4.13(c) of the Company’s Disclosure Letter, is being contested in good faith and in accordance with the Law and is fully reserved for on the Company Balance Sheet in accordance with GAAP. No claim has ever been made by a
Tax Authority in a jurisdiction where the Company or any of the Company Subsidiaries does not file Tax Returns that the Company or any Company Subsidiary, as the case may be, is or may be subject to Tax in that jurisdiction. Except as set forth in
Section 4.13(c) of the Company Disclosure Letter, neither the Company nor any Company Subsidiary is subject to any private letter ruling of the Internal Revenue Service or comparable rulings of other Tax Authorities that will be binding
on the Company or any Company Subsidiary with respect to any period following the Closing Date. Neither the stock of any Company Subsidiary nor any asset of the Company or any Company Subsidiary is subject to any Encumbrance for Taxes (other than an
Encumbrance for Taxes not yet due and payable). Neither the Company nor any of the Company Subsidiaries has granted any power of attorney that is currently in force with respect to any Taxes or Tax Returns. Except as set forth in
Section 4.13(c) of the Company Disclosure Letter, there are no matters currently under discussion between the Company or any Company Subsidiary and any Governmental Entity with respect to Taxes of the Company or any Company Subsidiary
that could result in any additional amount of Taxes with respect to the Company or any Company Subsidiary. 
 (d) As of the date hereof,
neither the Company nor any Company Subsidiary has requested any extension of time within which to file any Tax Return that has not yet been filed or, to the extent that an extension has been requested, such Tax Return will be timely filed within
the extension period if occurring prior to the Effective Time. There are no agreements, waivers of statutes of limitations, or other arrangements providing for extensions of time in respect of the assessment or collection of any unpaid Taxes against
the Company or any Company Subsidiary. 
 (e) Neither the Company nor any Company Subsidiary has been a member of any affiliated, combined,
consolidated or unitary group other than the group of which the Company is the parent. Neither the Company nor any Company Subsidiary is a party to any Tax sharing agreement, Tax indemnity obligation or similar agreement, arrangement or practice
with respect to Taxes (including any advance pricing agreement, closing agreement or other agreement relating to Taxes with any Tax Authority). Neither the Company nor any Company Subsidiary has any liability for Taxes of any Person as defined in
Code Section 7701(a)(1) (other than the Company in respect of itself, and each Company Subsidiary in respect of itself), including without limitation under Treasury Regulation section 1.1502-6 (or any similar provision of state, local, or
foreign Law), as a transferee or successor, by contract, as a result of any merger or liquidation, or otherwise. Section 4.13(e) of the Company Disclosure Letter accurately lists the characterization of each Company Subsidiary as a
corporation, a partnership or a disregarded entity for U.S. federal Income Tax purposes and no change in such status has occurred since the date of formation of each Company Subsidiary. To the extent that the Company or any Company Subsidiary has
any net operating loss carryovers for federal, state, local or foreign Income Tax purposes, Section 4.13(e) of the Company Disclosure Letter sets forth the amount of such net operating loss carryover as of the end of the most recent
taxable year of such Company and Company Subsidiary. 
  

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 (f) Neither the Company nor any Company Subsidiary has agreed to or is required to make any adjustment
under Code Section 481(a) or Section 482 (or an analogous provision of state, local or foreign Law) by reason of a change in accounting method or otherwise. Neither the Company nor any Company Subsidiary will be required to include in
income, or exclude any item of deduction from, Taxable income for any Taxable period (or portion thereof) ending after the Closing Date as a result of any (i) “closing agreement” as described in Code Section 7121 (or any
corresponding or similar provision of state, local or foreign Income Tax Law), (ii) open transaction or installment disposition made on or prior to the Closing Date, or (iii) prepaid amount received on or prior to the Closing Date. Neither
the Company nor any Company Subsidiary (i) has engaged in any intercompany transaction that could result in the Company or any Company Subsidiary being required to include any amount in income for federal, state, local or foreign Tax purposes
for any period through the Closing Date or (ii) has any excess loss account that could be required to be taken into income by any Company or Company Subsidiary for federal, state, local or foreign Tax purposes for any period through the Closing
Date. 
 (g) Except as set forth in Section 4.13(g) of the Company Disclosure Letter: (i) neither the Company nor any
Company Subsidiary is a party or subject to any joint venture, partnership, or other arrangement or contract that must be treated as a partnership for federal Income Tax purposes; (ii) neither the Company nor any Company Subsidiary has made any
payments, is obligated to make any payments, nor is a party to any agreement that could obligate it to make any payments that will not be deductible under Code Section 280G, 162, or 404; (iii) neither the Company nor any Company Subsidiary
has been a United States real property holding corporation within the meaning of Code Section 897(c)(2) during the applicable periods specified in Code Section 897(c)(1)(A)(ii); (iv) neither the Company nor any Company Subsidiary has
violated any of the applicable COBRA continuation coverage requirements set forth in Code Section 4980B; (v) the Company and each Company Subsidiary has disclosed on its federal income Tax Return all positions taken therein that could give
rise to substantial understatement of federal Income Taxes within the meaning of Code Section 6662; (vi) neither the Company nor any Company Subsidiary has participated in any “reportable transaction” or acted as a “material
advisor” with respect thereto, as such terms are defined, in the case of “reportable transaction” in the Treasury Regulations under Code Sections 6011 and 6112, and in the case of “material advisor,” as defined in Code
section 6111; (vii) no property owned by the Company or any Company Subsidiary (a) is property required to be treated as being owned by another Person pursuant to the provisions of section 168(f)(8) of the Internal Revenue Code of 1954, as
amended, and in effect immediately prior to the enactment of the Tax Reform Act in 1986, (b) constitutes “tax-exempt use property” within the meaning of section 168(h) of the Code; (c) is tax-exempt bond financed property
within the meaning of Code Section 168(g)(5); or (d) is subject to a Code Section 467 rental agreement as defined in Code Section 467; (viii) neither the Company nor any Company Subsidiary is a foreign person within the
meaning of Code Section 1445; (ix) to the Knowledge of the Company, neither the Company nor any Company Subsidiary holds, nor has it acquired, any “amortizable section 197 intangible” within the meaning of Code
Section 197(c) that is not amortizable in its hands by reason of having been acquired pursuant to the nonrecognition transactions described in Code Section 197(f)(2)(B) or the anti-churning rules of Code Section 197(f)(9) of the Code
and the Treasury Regulations thereunder; and (x) has net operating losses or other tax attributes presently subject to limitation under Code Sections 382, 383, 384 or the federal consolidated return regulations. 
 (h) Neither the Company nor any Company Subsidiary has constituted a “distributing corporation” or a “controlled corporation” (within
the meaning of Section 355(a)(1)(A) of the Code) in a distribution of stock intended to qualify for tax-free treatment under Section 355 or 361 of the Code in the two years prior to the date of this Agreement. There are no elections in
effect made by the Company or any Company Subsidiary pursuant to Code Section 338 or 336(e) or the Treasury Regulations thereunder. Neither the Company nor any Company Subsidiary has been a party to any transaction that could cease to be a
“reorganization” (as defined in Code Section 368) as a result of the transactions contemplated by this Agreement. 
  

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 (i) The amount of “subpart F income,” within the meaning of Code Section 951, of each
foreign Company Subsidiary, based solely on the activities of such Company Subsidiary prior to the Closing Date that has not previously been included in the U.S. taxable income of any U.S. Shareholder (within the meaning of Code Section 951(b))
prior to the Closing Date will not exceed $5,000 for each such Company Subsidiary for the taxable period (or portion thereof) ending prior to the Closing. No Company Subsidiary that is or was at any time a “controlled foreign corporation”
(within the meaning of Code Section 957) holds or has held, directly or indirectly, any “United States property” (within the meaning of Code Section 956(c)). No Company Subsidiary has been at any time a “passive foreign
investment company” (within the meaning of Code section 1297). Except to the extent set forth Section 4.13(i) of the Company Disclosure Letter, neither the Company nor any Company Subsidiary is subject to the “overall
foreign loss” provisions of Code Section 904(f). 
 (j) Section 4.13(j) of the Company Disclosure Letter sets forth the
details of all transactions, schemes or arrangements in respect of which the Company or any Company Subsidiary has been a party or has otherwise been involved for which a statutory clearance application was made. Section 4.13(j) of the
Company Disclosure Letter also lists all relevant applications for clearance and copies of all clearance obtained in connection with such transactions, schemes or arrangements, true and correct copies of which have been provided to Parent. All such
clearances have been obtained on the basis of full and accurate disclosure of all material facts and considerations relating thereto. All such transactions, schemes or arrangements have been implemented strictly in accordance with the terms of such
clearances. 
 (k) For purposes of Taxes imposed by the United Kingdom, (i) neither the Company nor any Company Subsidiary has made any
distribution prior to the Effective Time other than dividends registered in the Company Balance Sheet or (ii) no de grouping or deferred charge will arise or be triggered by the transactions contemplated by this Agreement. 
 4.14 Brokers. Except for fees payable to Houlihan Lokey Howard & Zukin Capital, Inc., neither the Company nor any Affiliate of the
Company is obligated for the payment of any fees or expenses of any investment banker, broker, advisor or similar party in connection with the origin, negotiation or execution of this Agreement or in connection with the Merger, and neither Parent
nor Merger Sub will incur or succeed to any liability, either directly or indirectly, to any such investment banker, broker, advisor or similar party as a result of this Agreement or the Merger. 
 4.15 Real Properties. 
 (a)
Section 4.15(a) of the Company Disclosure Letter sets forth a true, correct and complete list of all real property (i) owned by the Company or any Company Subsidiary or (ii) in which the Company or any Company Subsidiary has
any leasehold interest (each of the properties described in (i) and (ii) above (together with the improvements located thereon), the “Real Properties”). Section 4.15(a) of the Company Disclosure Letter
identifies those leasehold interests which constitute ground leases. The general use or function of each such parcel of Real Property is accurately described on Section 4.15(a) of the Company Disclosure Letter (e.g., office, warehouse,
and/or production facility). With respect to each parcel of Real Property owned by the Company or any Company Subsidiary, the Company or a Company Subsidiary owns good, marketable and indefeasible fee simple title to such Real Property, and such
Real Property is free and clear of all Encumbrances, including any easement, right of way, or building or use restriction, except for and subject to: (x) all matters reflected in the title policies, title insurance commitments or surveys
delivered or made available to Parent prior to the date hereof, (y)

  

 38 

 
(A) liens for current Taxes not yet due and payable and for which adequate reserves have been recognized in the Company’s Financial Statements,
(B) worker’s or unemployment compensation liens arising in the ordinary course of business, (C) mechanic’s, materialman’s, supplier’s, vendor’s, or similar liens arising in the ordinary course of business for
obligations that are not delinquent or that are the subject of a bona fide dispute or for which adequate retainage or other reserves are held, (D) any other easements, rights of way, restrictions, rights, and other non-monetary encumbrances
affecting title, each of which is of public record and none of which is reasonably likely to materially interfere with the current use or operation of the Real Property by the Company or any Company Subsidiary, and as to which the Company and each
Company Subsidiary are in full compliance, and (E) roadway, highway, zoning and building Laws, ordinances and regulations that do not materially interfere with the use by the Company or any Company Subsidiary of such Real Properties in the
ordinary course of the Company’s business, and as to which the Company and each Company Subsidiary are in full compliance, and (z) those matters for such Real Property set forth in the Company Disclosure Letter (the items in subclauses
(x), (y) and (z) above are herein collectively referred to as the “Permitted Exceptions”). 
 (b) With respect to
each parcel of Real Property leased by the Company or any Company Subsidiary (each, a “Leased Real Property”), either the Company or a Subsidiary of the Company, as the case may be, holds a valid leasehold in each such Leased Real
Property, in each case pursuant to a written lease or sublease for such Leased Real Property (each, a “Lease”). The Company has delivered to Parent true and correct copies of all Leases that are complete in all material respects.
All of the Leases are in full force and effect, and there is no breach or default by the Company or any Company Subsidiary thereof and, to the Knowledge of the Company, any breach or default by any other party thereto, except in each case for such
breaches or defaults that are not material individually with respect to such Lease. 
 (c) Except as delivered or made available to Parent,
neither the Company nor any Company Subsidiary has received any notice from any insurance company or Governmental Entity and has no Knowledge (i) of any condition, defect or inadequacy with respect to any Real Property (including, without
limitation, any health hazard or danger, nuisance or waste), which, if not corrected, would result in termination of insurance coverage or increase its costs therefor, other than matters that have already been corrected, (ii) with respect to
any material violation of any applicable zoning, building, health, traffic, flood control, fire safety, handicap or other Law, code, ordinance, rule or regulation related to any Real Property, other than matters that have already been corrected,
(iii) of any currently pending or threatened condemnation (temporary or permanent) proceeding with respect to any Real Property, or (iv) of any proceedings which would cause the change, redefinition or other modification of the current
zoning classification of any Real Property. 
 (d) The Real Property and the use and occupancy of the Real Property by the Company and the
Company Subsidiaries comply in all material respects with all applicable Laws, including without limitation the Americans with Disabilities Act, and all private covenants and indentures and Contracts affecting such Real Property, and neither the
Company nor any Company Subsidiary has received any notice that any of the Real Property does not so comply. The use and occupancy of the Real Property by the Company and the Company Subsidiaries is permitted by Laws and all private covenants and
indentures and Contracts affecting such Real Property or the Company or Company Subsidiary without any variance, special use permit or other exception or special proceeding, and the Company’s and Company Subsidiaries’ use or occupancy of
the Real Property or any portion thereof and the operation of their business as currently conducted is not dependent on a “permitted non-conforming use” or “permitted nonconforming structure” or similar variance, exemption or
approval from any governmental entity. 
 (e) The Real Property and all improvements, buildings, structures, fixtures, building systems and
equipment (including the mechanical, plumbing, heating, sprinkler and fire suppression, 

  

 39 

 
electrical and air conditioning systems), and all components thereof, are in good condition and repair and sufficient for the operation of the business
conducted by the Company and there are no defects in any of the foregoing. To the Knowledge of the Company, there is no defect or condition of the soil that could materially impair the operation or structural integrity of the Facilities or any
portion thereof. 
 (f) With respect to all Real Property that (i) is owned by the Company or a Company Subsidiary or (ii) which
constitutes a ground lease: 
 (i) All water, oil, gas, electrical, steam, compressed air, telecommunications, sewer, storm
and waste water systems and other utility services or systems, to the extent applicable, have been installed within lawful rights of way owned by the Company and are connected to the improvements and Facilities and are operational and sufficient for
the operation of the business of the Company and the Company Subsidiaries as currently conducted thereon. 
 (ii) The
Facilities and other improvements of the Company and the Company Subsidiaries are located wholly within the boundaries of the Real Property and no part thereof encroaches onto any adjoining land, except as may be reflected by the Permitted
Exceptions. 
 (iii) Other than Permitted Exceptions, there are no improvements, fixtures, buildings, structures or fences
that are not included as part of the Facilities that are located within or encroach upon the Real Property, and there are no improvements that are not owned by the Company or any of the Company Subsidiaries located on any of the Real Property or
encroaching onto the Real Property. 
 (iv) The Company and the Company Subsidiaries have legal and practical vehicular and
rail access and rights of ingress and egress to and from all of the Real Property, including to and from each Facility. 
 (g) There are no
outstanding options, rights of first offer or rights of first refusal to purchase any Real Property or any portion thereof or interest therein. 
 (h) Neither the Company nor any Company Subsidiary owes, or will owe in the future, any brokerage commissions or finder’s fees with respect to any Lease or sublease, and does not owe and will not owe in the future any sums or
reimbursements for any improvements or allowances under, any Lease or sublease. 
 (i) Neither the Company nor any Company Subsidiary has
pledged, mortgaged, hypothecated, assigned, sublet, transferred, or granted any interest in any Lease or sublease, or any Leased Real Property or any of the improvements thereon. To the Knowledge of the Company, none of the Real Property or any
portion thereof is located in a flood hazard area (as defined by the Federal Emergency Management Agency), or in a wetlands area designated by Federal or state authorities. 
 (j) Neither the Company nor any Company Subsidiary is a “foreign person” or a “foreign corporation” as those terms are defined in
Section 1445 of the Code. 
 (k) Except as is otherwise set forth in Section 4.15(k) of the Company’s Disclosure
Letter, neither the execution and performance of this Agreement nor the consummation of the transactions set forth herein, will result in the breach of or default under any Real Property Lease or any other agreement or Law affecting such Real
Property, or the Company’s or any Company Subsidiary’s right or 

  

 40 

 
ability to use or occupy such Real Property for current operations, and will not otherwise cause any real Property Lease to cease to be legal, valid,
binding, enforceable and in full force and effect on identical terms following the Effective Time. 
 4.16 Accounts Receivable. The
accounts receivable of the Company reflected on the books and records of the Company (except to the extent of the allowance for doubtful accounts reflected on the Company Financial Statements) represent valid obligations arising from sales actually
made or services actually performed in the ordinary course of business. To the Company’s Knowledge, there are no material disputes with respect to any of the accounts receivable reflected on the Company Balance Sheet that have not been reserved
for on the Company Balance Sheet. 
 4.17 Warranties. No material warranty or similar claim is currently pending against the Company
or a Company Subsidiary. To the Company’s Knowledge, no material amount of goods manufactured, sold and/or delivered within the past three years by the Company or any Company Subsidiary has failed to be in conformity in all material respects
with all product specifications and warranties provided to customers thereof. 
 4.18 Customers and Suppliers. 
 (a) Section 4.18(a) of the Company Disclosure Letter lists of the following: (i) the 20 largest customers of the Company and the Company
Subsidiaries, as measured by the dollar amount of U.S. revenues therefrom, during fiscal 2007 and 2008 and the period of fiscal 2009 ended November 31, 2008; (ii) the 20 largest suppliers of the Company, as measured by the dollar amount of
U.S. purchases therefrom, during fiscal 2007 and 2008 and the period of fiscal 2009 ended December 31, 2008; and (iii) the 10 largest customers and the 10 largest suppliers of the Company and each Company Subsidiary on a consolidated
basis, as measured by the dollar amount of purchases therefrom or thereby, during fiscal 2008 and the period of fiscal 2009 ended October 31, 2008. 
 (b) Except as set forth on Section 4.18(b) of the Company Disclosure Letter, neither the Company nor any Company Subsidiary is engaged in any material dispute with any customer or supplier, and, to the
Knowledge of the Company, no customer or supplier listed in Section 4.18(a) of the Company Disclosure Letter has indicated that it intends to terminate any Contract or not renew any Contract that provides for automatic renewal or
materially reduce its future purchases from or sales to the Company or any Company Subsidiary other than in the ordinary course of business. 
 4.19 Inventory. All of the inventory of the Company, whether raw materials, work in process, finished products or supply and packaging materials, is usable or, only with respect to finished goods, saleable in the ordinary course of
business except for obsolete items and items of below-standard quality, all of which have been written off or written down to net realizable value in the Company Balance Sheet or on the accounting records of the Company as of the Closing Date, as
the case may be. Such Company inventory is fairly reflected in all material respects in the Company Financial Statements, including all appropriate reserves, and except as set forth in Section 4.19 of the Company Disclosure Letter, the
Company inventory has been valued at the lower of cost or market. At the Closing, the Company inventory will be at levels sufficient for Parent and Merger Sub to conduct the business (in the ordinary course of business) which was conducted by the
Company immediately prior to the Closing. 
 4.20 Certain Assets. The Company owns, leases or has the legal right to use all of the
buildings, plants, structures, equipment, and other tangible assets necessary for the continued conduct of the Company’s business after the Closing in substantially the same manner as conducted prior to the Closing. The Company Subsidiaries
own, lease or have the legal right to use all of the buildings, plants, structures, equipment, and other tangible assets necessary for the continued conduct of the Company’s business after the Closing in substantially the same manner as
conducted prior to the Closing. 
  

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 4.21 Insurance. Section 4.21 of the Company Disclosure Letter sets forth a true and
correct list of the commercial general liability/product liability and all risk property policies (the “Business Insurance Policies”) held or maintained by or for the benefit of the Company and any Company Subsidiary as of the date
hereof. Section 4.21 of the Company Disclosure Letter sets forth, for each Business Insurance Policy, the type of policy, the name of the insurer, the amount of coverage, and the effective dates of the policy through which coverage shall
continue by virtue of premiums already paid. To the Knowledge of the Company, there is no material claim relating to the business, operations, assets, Real Property or Facilities of the Company or any Company Subsidiary by the Company or any Company
Subsidiary pending under any Business Insurance Policy as to which coverage has been denied or refused by the underwriters of such policies. Each Business Insurance Policy is in full force and effect and constitutes the valid and binding obligation
of, and is enforceable against, the parties thereto in accordance with its terms. The Company has paid all premiums due with respect to the Business Insurance Policies and no notice of cancellation or termination has been received with respect to
any such policies that have not been renewed on a timely basis. 
 4.22 Transactions with Affiliates. Except as set forth in
Section 4.22 of the Company Disclosure Letter, there are no transactions, agreements, arrangements or understandings between (i) the Company or any Company Subsidiary, on the one hand, and (ii) any Affiliate of the Company
(other than any of its Subsidiaries), on the other hand, of the type that would be required to be disclosed by the Company under Item 404 of Regulation S-K under the Securities Act. 
 ARTICLE 5 
 REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB

 Parent and Merger Sub hereby jointly and severally represent and warrant to the Company as follows: 
 5.1 Organization and Qualification; Subsidiaries. Each of Parent and Merger Sub is a corporation organized, validly existing and in good standing
under the laws of the State of Delaware. Each Subsidiary of Parent (each a “Parent Subsidiary” and, collectively, the “Parent Subsidiaries”) has been organized, and is validly existing and in good standing, under
the laws of the jurisdiction of its incorporation or organization, as the case may be. Each of Parent and each Parent Subsidiary has the requisite power and authority to own, lease and operate its properties and to carry on its business as it is now
being conducted and as currently proposed by it to be conducted. Each of Parent and each Parent Subsidiary is duly qualified or licensed to do business, and is in good standing, in each jurisdiction where the character of the properties owned,
leased or operated by it or the nature of its business makes such qualification, licensing or good standing necessary, except where the failure to be so qualified, licensed or in good standing would not reasonably be expected to have a Parent
Material Adverse Effect. 
 5.2 Authority. Each of Parent and Merger Sub has all requisite corporate power and authority to execute
and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated by this Agreement. The execution and delivery of this Agreement by each of Parent and Merger Sub and the consummation by Parent and
Merger Sub, as applicable, of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action, except for the adoption of this Agreement by the sole stockholder of Merger Sub. No other corporate
proceedings on the part of Parent and no vote of the holders of any shares of Parent capital stock is required to approve this Agreement or the transactions contemplated hereby. The affirmative vote or written consent of the sole stockholder of
Merger Sub to adopt this Agreement is the only vote or written 

  

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consent of the holders of the capital stock of Merger Sub necessary to adopt this Agreement and approve the Merger under applicable Law and Merger Sub’s
articles of incorporation. This Agreement has been duly authorized and validly executed and delivered by Parent and Merger Sub and (assuming the valid authorization, execution and delivery of this Agreement by the Company) constitutes a legal, valid
and binding obligation of Parent and Merger Sub, enforceable against Parent and Merger Sub in accordance with its terms, subject only to the effect, if any, of (i) applicable bankruptcy, insolvency, moratorium or other similar Laws affecting
the rights of creditors generally and (ii) rules of Law governing specific performance, injunctive relief and other equitable remedies. 
 5.3 No Conflict; Required Filings and Consents. 
 (a) The execution and delivery of this Agreement by Parent and Merger Sub
do not, and the performance of this Agreement by Parent and Merger Sub will not, (i) conflict with or violate any provision of the articles of incorporation or code of regulations of Parent or Merger Sub, (ii) assuming that all consents,
approvals, authorizations and permits described in Section 5.3(b) have been obtained and all filings and notifications described in Section 5.3(b) have been made and any waiting periods thereunder have terminated or expired,
conflict with or violate any Law applicable to Parent or Merger Sub or any other Parent Subsidiary or by which any property or asset of Parent, Merger Sub or any Parent Subsidiary is bound or affected, or (iii) except as set forth in
Section 5.3(a) of the Parent Disclosure letter, result in any breach of, constitute a default under, cause any loss of any material benefit under, or give to others any right of termination or cancellation pursuant to, any material
Contract. 
 (b) No filing or registration with, or authorization, consent or approval of, any Governmental Entity (other than filings,
registrations, authorizations, consents and approvals, the failure of which to make or obtain would not, individually or in the aggregate, reasonably be expected to have a Parent Material Adverse Effect) is required by Parent, Merger Sub or any
Parent Subsidiary in connection with the execution and delivery of this Agreement by Parent and Merger Sub or is necessary for the consummation by Parent and Merger Sub of the Merger except under the Exchange Act, the Securities Act, any applicable
Blue Sky Laws, Antitrust Laws, and the filing of the Certificate of Merger as required by the OGCL. 
 5.4 Ownership of Merger Sub; No
Prior Activities. 
 (a) Merger Sub was formed solely for the purpose of engaging in the transactions contemplated by this Agreement.

 (b) All of the outstanding capital stock of Merger Sub is owned directly by Parent. There are no options, warrants or other rights
(including registration rights), agreements, arrangements or commitments to which Merger Sub is a party of any character relating to the issued or unissued capital stock of, or other Equity Interests in, Merger Sub or obligating Merger Sub to grant,
issue or sell any shares of the capital stock of, or other Equity Interests in, Merger Sub, by sale, lease, license or otherwise. There are no obligations, contingent or otherwise, of Merger Sub to repurchase, redeem or otherwise acquire any shares
of the capital stock of Merger Sub. 
 (c) Except for obligations or liabilities incurred in connection with its incorporation or
organization and the transactions contemplated by this Agreement, Merger Sub has not and, prior to the Effective Time, will not have incurred, directly or indirectly, through any Subsidiary or Affiliate, any obligations or liabilities or engaged in
any business activities of any type or kind whatsoever or entered into any agreements or arrangements with any Person. 
  

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 5.5 Financing. Parent has delivered to the Company a true and correct copy of a commitment letter,
dated as of January 29, 2009, from Bank of America, N.A. (the “Financing Commitment Letter”), pursuant to which Bank of America, N.A., has agreed, subject to the terms and conditions set forth therein, (i) to act as sole
lead arranger and book manager in connection with a proposed $100 million senior credit facility to be used in part for funding the transactions contemplated by this Agreement (the “Financing”) and (ii) to fund a $30 million
portion of the Financing (the “Bank of America Financing”). The aggregate proceeds to be disbursed pursuant to the senior credit facility contemplated by the Financing Commitment Letter, together with available cash on hand and
available funds under existing credit arrangements of Parent, will be sufficient for Parent and the Surviving Corporation to consummate the transactions contemplated by this Agreement, including the payment of the Purchase Price, the Indebtedness to
be repaid at Closing in accordance with Section 3.2(a), all related estimated fees and expenses, including Expenses and all amounts required to be paid by or on behalf of Parent as contemplated by Article 3 of this Agreement. The
Financing Commitment Letter has not been withdrawn, rescinded, amended or modified in any respect prior to the date of this Agreement. As of the date hereof, the Financing Commitment Letter is in full force and effect and constitutes the legal,
valid and binding obligation of Parent. Parent has fully paid any commitment fees or other fees required to be paid prior to the date of this Agreement pursuant to the Financing Commitment Letter. 
 5.6 Company Stock. Neither Parent nor any Parent Subsidiary has at any time during the last three years been an “interested shareholder”
of the Company as defined in Chapter 1704 of the Ohio Revised Code. Neither Parent nor any Parent Subsidiary owns (directly or indirectly, beneficially or of record), or is a party to any agreement, arrangement or understanding for the purpose of
acquiring, holding, voting or disposing of, in each case, any shares of capital stock of the Company (other than as contemplated by this Agreement). 
 5.7 Brokers. Except for fees payable to Merrill Lynch, Pierce, Fenner & Smith Incorporated (or an affiliate thereof), neither Parent nor any Affiliate of Parent is obligated for the payment of any fees
or expenses of any investment banker, broker, advisor or similar party in connection with the origin, negotiation or execution of this Agreement or in connection with the Merger, and neither the Company nor any Company Subsidiary will incur or
succeed to any liability, either directly or indirectly, to any such investment banker, broker, advisor or similar party as a result of this Agreement or the Merger. 
 ARTICLE 6 
 COVENANTS 
 6.1 Conduct of Business by the Company Pending the Closing. The Company agrees that, between the date of this Agreement and the earlier of the
Effective Time and the date of termination of this Agreement, except in connection with this Agreement or any transaction specifically contemplated hereby, unless Parent shall otherwise agree in writing or except as required by applicable Law, the
Company will, and will cause each Company Subsidiary to, (a) conduct its operations in all material respects in the ordinary and usual course of business consistent with past practice, and (b) keep substantially in working condition and
good order and repair all of its material assets and other material properties, normal wear, tear and retirements excepted. Without limiting the foregoing, and as an extension thereof, other than (i) in connection with this Agreement or any
transaction specifically contemplated hereby and (ii) as set forth on Section 6.1 of the Company Disclosure Letter, the Company shall not, and shall not permit any Company Subsidiary to, between the date of this Agreement and the
earlier of the Effective Time and the date of termination of this Agreement, directly or indirectly, do, or agree to do, any of the following without Parent’s prior written consent (which consent shall not be unreasonably withheld, conditioned
or delayed), unless required by applicable Law: 
 (a) acquire by merging or consolidating with or by purchasing a substantial Equity Interest
in or a substantial portion of the assets of, or by any other manner, any business, corporation, partnership, association or other business organization or division thereof with a value or purchase price in excess of $100,000, or enter into any
agreement providing for any merger, acquisition or similar transaction (other than transfers among the Company and the Company Subsidiaries); 
  

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 (b) sell, lease, license or otherwise dispose of any of its properties or assets, other than:
(i) dispositions of equipment that is no longer used or useful in the ordinary course of business with a fair market value not in excess of $50,000 in respect of any one asset and not in excess of $100,000 in the aggregate, (ii) sales,
leases or other transfers between the Company and the Company Subsidiaries or between those Subsidiaries, and (iii) sales, leases, licenses or dispositions of assets with a fair market value not in excess of $50,000 in respect of any one asset
and not in excess of $100,000 in the aggregate; 
 (c) amend or propose to amend the Company Articles of Incorporation or Company Bylaws or,
in the case of the Company Subsidiaries, their respective constituent documents; 
 (d) declare, set aside or pay any dividend or other
distribution payable in cash, capital stock, property or otherwise with respect to any shares of its capital stock, or purchase, redeem or otherwise acquire, or offer to purchase, redeem or otherwise acquire, any shares of its capital stock, other
equity securities, other ownership interests or any options, warrants or rights to acquire any such stock, securities or interests; 
 (e)
split, combine or reclassify any outstanding shares of its capital stock (other than dispositions by or among the Company Subsidiaries and cancellations of Company Options forfeited in accordance with the terms of a Company Benefit Plan in existence
on the date of this Agreement or related stock option agreements); 
 (f) issue, sell, authorize, or agree to the issuance or sale of, any
shares of, or any options, warrants or rights of any kind to acquire any shares of, or any securities convertible into or exchangeable for any shares of, any Equity Interests of the Company or any Company Subsidiary, except for the shares of Company
Common Stock issuable upon exercise of (i) Company Options outstanding on the date hereof or (ii) Company Warrants outstanding on the date hereof; 
 (g) (i) take any action with respect to the grant of or increase in any severance or termination pay to any current or former director, executive officer, or employee of the Company or any Company Subsidiary,
(ii) execute any employment, deferred compensation or other similar agreement (or any amendment to any such existing agreement) with any director, executive officer, or employee of the Company or any Company Subsidiary, (iii) increase the
benefits payable under any existing severance or termination pay policies or employment agreements, (iv) increase the compensation, bonus or other benefits of current or former director, executive officer, or employee of the Company or any
Company Subsidiary other than in the ordinary course of business or (v) adopt or establish any new employee benefit plan or amend any existing employee benefit plan, except (A) as may be required by, or in order to facilitate compliance
with, Law, or (B) any amendment or arrangement to cause any agreement existing on the date hereof to comply with, or be exempt from, Section 409A of the Internal Revenue Code; 
 (h) change any accounting method in respect of Taxes, except as required by GAAP; 
 (i) incur any Indebtedness (other than (i) capitalized lease obligations permitted by clauses (l) or (n) below, (ii) obligations to
insurance companies in connection with financing of premiums 

  

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of insurance policies and (iii) borrowing under the Existing Revolving Credit Facility in place on the date hereof) in excess of $100,000 or which may
not be prepaid without penalty, or modify the terms of any existing Indebtedness of the Company or any Company Subsidiary; 
 (j) assume,
guarantee or endorse the obligations of any other Person, or, subject to clause (m) below, make any loans, advances, investments in or capital contributions to any Person, except (i) to or for the benefit of the Company Subsidiaries or
(ii) for those not in excess of $100,000 in the aggregate in the ordinary course of business and consistent with past practice; 
 (k)
except pursuant to the terms of any existing Indebtedness of the Company or any Company Subsidiary, create or assume any material Encumbrance; 
 (l) other than the approved future capital expenditures of the Company set forth on the Company Disclosure Letter, make or commit to make capital expenditures in excess of $300,000 in the aggregate after the date of this Agreement;

 (m) make any loans or advances (other than routine expense advances and draws to employees of the Company or any Company Subsidiary in the
ordinary course of business and consistent with past practice) to any officer, director or employee of the Company, or forgive or discharge in whole or in part any outstanding loans or advances, or otherwise amend, terminate or modify any loan
previously granted to any such Person; 
 (n) amend, terminate prior to its stated term or modify any Company Material Contract, or enter
into any Contract granting exclusivity, “most favored nations” or below market pricing rights that involve consideration or other obligation in excess of $100,000 annually; 
 (o) knowingly take, or agree to commit to take, any action the result of which would be reasonably and foreseeably likely to prevent the consummation of
the Merger on or before the Termination Date; 
 (p) neither collect a receivable nor pay a payable of the Company or any Company Subsidiary
outside of the ordinary course of business; 
 (q) fail to maintain inventory or equipment at levels consistent with ordinary course of
business in accordance with the applicable levels of business activities; 
 (r) take or fail to take any action that is intended to cause a
material default or an event of default under a Company Material Contract; or 
 (s) agree to take any of the actions described in
subsections (a) through (o) of this Section 6.1. 
 Nothing contained in this Agreement shall give Parent, directly or indirectly,
rights to control or direct the Company’s operations or otherwise prior to the Effective Time. Prior to the Effective Time, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision
of its operations. 
 6.2 Company Shareholders Meeting; Board Recommendation; Voting Agreement of CorrPro Investments LLC. 

(a) The Company shall call and hold the Company Shareholders Meeting as promptly as reasonably practicable for the purpose of obtaining the Company
Shareholders Approval. In connection with the Company Shareholders Meeting, the Company will (i) subject to applicable Laws, use its reasonable efforts (including postponing or adjourning the Company Shareholders Meeting to obtain a quorum) to
obtain the Company Shareholders Approval and (ii) otherwise comply with all legal requirements applicable to the Company Shareholders Meeting. 
  

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 (b) Subject to Section 6.4(c), (i) the Company Board shall recommend that the
Company’s shareholders vote in favor of the adoption of this Agreement and the Merger and (ii) neither the Company Board nor any committee thereof shall make an Adverse Recommendation Change. 
 (c) The Company shall have delivered to the Acquirors, simultaneously with its execution of this Agreement, a voting agreement providing that CorrPro
Investments LLC has agreed to vote its beneficially owned shares of Company Capital Stock in favor of the Agreement and the Merger at the Company Shareholders Meeting. Such voting agreement shall terminate upon termination of this Agreement in
accordance with the terms of this Agreement. 
 6.3 Access to Information; Confidentiality. 
 (a) From the date of this Agreement to the Effective Time, to the extent permitted by applicable Law and confidentiality obligations of the Company, the
Company shall, and shall cause each Company Subsidiary and each of its and each Company Subsidiary’s Representatives to, (i) provide to Parent and Parent’s Representatives, at Parent’s sole risk and expense, reasonable access, at
reasonable times upon prior notice, to the officers, employees, agents, properties, offices and other facilities of the Company and the Company Subsidiaries and to the books and records thereof and (ii) furnish promptly to Parent at
Parent’s expense, such information concerning the business, properties, Contracts, assets (tangible and intangible, including Intellectual Property), liabilities, Tax Returns, Tax elections and all other workpapers in the actual possession of
the Company relating to Taxes, personnel, internal financial statements and other aspects of the Company and the Company Subsidiaries as Parent or Parent’s Representatives may reasonably request. The Company shall be entitled to have a
Representative present at any inspection. Parent agrees to conduct such investigation in a manner that does not interfere unreasonably with the operations of the Company and the Company Subsidiaries and with the prompt discharge by the
Company’s and the Company Subsidiaries’ employees of their duties. 
 (b) Parent agrees to indemnify and hold the Company and the
Company Subsidiaries harmless from any and all Proceedings and any and all liabilities, including costs and expenses for the loss, injury to or death of any Parent Representative for the Release of Hazardous Substances or exacerbation of an existing
Environmental Condition, caused by or resulting directly from the action or inaction of any of Parent or Parent’s Representatives during any visit to the business or property sites of the Company and the Company Subsidiaries prior to the
completion of the Merger, whether pursuant to this Section 6.3 or otherwise except with respect Proceedings and liabilities resulting from the negligence or willful misconduct of the Company or the Company Subsidiaries or their
respective Representatives. Notwithstanding Section 6.3(a) and the foregoing provisions of this Section 6.3(b), neither the Company nor its Subsidiaries shall be required to provide access to or to disclose any information
(i) where such access or disclosure could jeopardize the attorney-client privilege or work product privilege of the Company or any of its Subsidiaries or contravene any Law, or (ii) to the extent that outside counsel to the Company advises
that such access or disclosure should not be permitted or made in order to ensure compliance with any applicable Law. 
 (c) Parent will not
(and will cause Parent’s Representatives not to) use any information obtained pursuant to this Section 6.3 for any purpose unrelated to the consummation of the 

  

 47 

 
transactions contemplated by this Agreement. Until satisfaction of the Merger or the termination of this Agreement in accordance with its terms, Parent
agrees to hold confidential all information which it has received or to which it has gained access pursuant to this Section 6.3 in accordance with the Confidentiality Agreement, dated as of August 28, 2008 between the Company and
Parent, as amended from time to time (the “Confidentiality Agreement”). The parties acknowledge and agree that the Confidentiality Agreement shall remain in full force and effect. 
 (d) Notwithstanding the above, any sampling of environmental media shall require the Company’s prior consent, which consent shall not be
unreasonably withheld or delayed. In the event of any sampling of environmental media, (i) Parent or its Representative shall restore the property in all material respects upon completion of such sampling or investigation to its condition
immediately prior to the sampling or investigation and (ii) Parent or its Representative shall promptly dispose of any wastes generated during the course of such sampling or investigation and shall be named as the generator of same. 

(e) Parent and its Representatives shall promptly furnish to the Company copies of any environmental reports prepared by Parent or its Representatives
in respect of real property owned, leased or used by the Company and or the Company Subsidiaries. 
 6.4 No Solicitation. 

(a) Generally. The Company will not, and will cause the Company Subsidiaries not to, and will use reasonable efforts to ensure that its
Representatives do not (i) solicit, initiate, or knowingly take any action to facilitate or encourage the submission of any Acquisition Proposal, (ii) enter into or participate in any communications or negotiations regarding, or deliver or
make available to any Person any non-public information in response to, or in connection with, any inquiry, expression of interest, proposal or offer that constitutes, or could reasonably be expected to lead to, an Acquisition Proposal or
(iii) enter into any agreement with respect to an Acquisition Proposal. The Company and the Company Subsidiaries will immediately cease any and all existing activities, discussions and negotiations with any Persons conducted prior to or on the
date of this Agreement with respect to any Acquisition Proposal. 
 (b) Superior Offers. Notwithstanding the foregoing, in the event
that any Person submits to the Company (and does not withdraw) an Acquisition Proposal that the Company Board concludes in good faith (after consultation with its outside legal counsel and its financial advisor) is, or is reasonably likely to
become, a Superior Offer, the Company may (i) engage in discussions or negotiations with such Person regarding such Acquisition Proposal, and (ii) deliver or make available to such Person non-public information regarding the Company and
the Company Subsidiaries provided that the Company first shall have received from such Person an executed confidentiality agreement containing terms at least as restrictive with regard to the Company’s confidential information as the
Confidentiality Agreement, it being understood that such confidentiality agreement shall not include any provision for any exclusive right to negotiate with such Person or having the actual or purported effect of restricting the Company from
fulfilling its obligations under this Agreement. 
 (c) Changes of Recommendation. Subject to compliance by the Company with this
Section 6.4, nothing in this Agreement shall prevent the Company Board from (i) withholding, withdrawing, amending or modifying the Company Board Recommendation (the actions in this clause (i) being collectively referred to as
an “Adverse Recommendation Change”), (ii) terminating this Agreement pursuant to Section 8.1(f) simultaneously with the payment of the Company Termination Fee, (iii) recommending, adopting, approving or
submitting to the Company’s shareholders any Acquisition Proposal, or (iv) entering into any agreement, including any agreement in principle, letter of intent or 

  

 48 

 
understanding, acquisition or merger agreement, option agreement, joint venture agreement, partnership agreement or similar agreement, arrangement or
understanding which constitutes, relates to, is intended to lead to or could reasonably be expected to lead to an Acquisition Proposal (other than a confidentiality agreement contemplated by Section 6.4(b)); provided, however, that in
any case, (A) the Company Shareholders Approval has not yet been obtained, (B) the Company Board concludes in good faith, after consultation with its outside legal counsel, that such action is reasonably required in order for the Company
Board to comply with its fiduciary obligations to the Company’s shareholders under applicable Law, (C) the Company shall have promptly provided written notice to Parent (a “Notice of Superior Offer”) advising Parent that
the Company has received a Superior Offer and that it intends (or may intend) to make an Adverse Recommendation Change or terminate the Agreement pursuant to Section 8.1(f) and the manner and timing in which it intends (or may intend) to
do so, (D) Parent shall not have, within 72 hours of Parent’s receipt of the Notice of Superior Offer, made an offer that the Company Board determines in its good faith judgment (after consultation with outside legal counsel and its
financial advisor) to be at least as favorable to the Company’s shareholders as such Superior Offer (it being agreed that (1) the Company Board shall convene a meeting to consider any such offer by Parent promptly following the receipt
thereof and (2) that the Company Board will not make an Adverse Recommendation Change or terminate the Agreement pursuant to Section 8.1(f) for 72 hours after receipt by Parent of the Notice of Superior Offer). 
 (d) Shareholder Disclosures. Nothing contained in this Agreement shall prohibit the Company from making any disclosure to the shareholders of the
Company if the Company Board has concluded in its good faith judgment (after receipt of advice from its outside legal counsel) that such disclosure is required in order to comply with its fiduciary obligations to the Company’s shareholders
under applicable Law or to comply with securities Laws. Such disclosure shall not be deemed to be an Adverse Recommendation Change or otherwise constitute a breach of Section 6.2 or this Section 6.4. 
 6.5 Appropriate Action; Government Consents; Filings. 
 (a) Promptly after the execution of this Agreement, each of Parent and the Company shall apply for or otherwise seek, and shall use its reasonable efforts to obtain, all Consents required to be obtained by it for the
consummation of the Merger. Without limiting the generality or effect of the foregoing, each of Parent and the Company shall, (i) as soon as practicable, and in any event no later than twenty (20) Business Days after the date of this
Agreement, make any initial filings required under the HSR Act and (ii) as promptly as practicable, make any additional filings required by any other applicable Antitrust Laws. The parties hereto shall consult and cooperate with one another,
and consider in good faith the views of one another, in connection with any analyses, appearances, presentations, memoranda, briefs, arguments, opinions and proposals made or submitted by or on behalf of any party hereto in connection with
proceedings under or relating to any Antitrust Law; provided, however, that, with respect to any such analyses, appearances, presentations, memoranda, briefs, arguments, opinions or proposals, each of Parent and the Company need not supply the other
(or its counsel) with copies (or in case of oral presentations, a summary) to the extent that any Law applicable to such party requires such party or the Company Subsidiaries to restrict or prohibit access to any such properties or information.
Parent and the Company shall each pay one-half of the fees and expenses of filings under the HSR Act. 
 (b) Each party will notify the other
promptly upon the receipt of (i) any comments from any officials of any Governmental Entity in connection with any filings made pursuant hereto and (ii) any request by any officials of any Governmental Entity for amendments or supplements
to any filings made pursuant to, or information provided to comply in all material respects with, any Laws. Whenever any event occurs that is required to be set forth in an amendment or supplement to any filing made pursuant to
Section 6.5(a), each party will promptly inform the other of such occurrence and cooperate in filing with the applicable Governmental Entity such amendment or supplement. 
  

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 (c) Each of Parent and the Company shall use its reasonable efforts to resolve such objections, if any,
as may be asserted by any Governmental Entity with respect to the transactions contemplated by this Agreement under the HSR Act, the Sherman Act, as amended, the Clayton Act, as amended, the Federal Trade Commission Act, as amended, and any other
federal, state or foreign statutes, rules, regulations, orders or decrees that are designed to prohibit, restrict or regulate actions having the purpose or effect of monopolization, lessening of competition or restraint of trade (collectively,
“Antitrust Laws”). Each of Parent and the Company shall use its reasonable efforts to take such action as may be required to cause the expiration or termination of the waiting or notice periods under the HSR Act or other Antitrust
Laws with respect to such transactions as promptly as possible after the execution of this Agreement. Without limiting the foregoing, Parent and the Company shall take any and all of the following actions to the extent necessary to obtain the
approval of any Governmental Entity with jurisdiction over the enforcement of any applicable Laws regarding the transactions contemplated hereby: (i) entering into negotiations, (ii) providing information required by Law, and
(iii) substantially complying with any “second request” for information pursuant to the Antitrust Laws. 
 (d) Notwithstanding
the foregoing or any other provision of this Agreement, nothing in this Section 6.5 shall require, or be construed to require, the Company to take or to refrain from taking any action, to agree to any disposition or restriction with
respect to any assets or operations of the Company or any Company Subsidiary, or to cause any Company Subsidiary to do or agree to do any of the foregoing, if any such action, failure to act, restriction or agreement would have a Material Adverse
Effect. 
 (e) Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Section 6.5 shall limit a
party’s right to terminate the Agreement pursuant to Section 8.1(b) so long as such party has until such date complied in all material respects with its obligations under this Section 6.5. 
 6.6 Certain Notices. Each of the Company, Parent and Merger Sub, as the case may be, will notify the other parties in writing promptly after
learning of (a) any notice or other communication from any Person alleging that the Consent of such Person is or may be required in connection with the Merger, (b) any notice or other communication from any Governmental Entity in
connection with the Merger or (c) any change, occurrence or event that would have a Material Adverse Effect, or that is reasonably likely to cause any of the conditions to closing set forth in Article 7 not to be satisfied. Each of
Parent, Merger Sub and the Company shall give prompt notice to the other parties of any representation or warranty made by it contained in this Agreement becoming untrue or inaccurate in any material respect if such untruth or inaccuracy would
reasonably be expected to cause any condition set forth in Article 7 not to be satisfied, or any failure by it to comply with or satisfy in any material respect any covenant, condition or agreement to be complied with or satisfied by it under
this Agreement. 
 6.7 Indemnification and Insurance. 
 (a) From and after the Effective Time, Parent shall cause the Surviving Corporation to fulfill and honor the obligations of the Company for indemnification and advancement of expenses in favor of each D&O
Indemnified Party under the Company Articles of Incorporation or Company Bylaws or the certificates or articles of incorporation, bylaws, and other organizational documents of the Company Subsidiaries and any indemnification agreement set forth in
Section 6.7 (a) of the Company Disclosure Letter to which such D&O Indemnified Party is a party, in each case, in accordance with the terms of such articles, bylaws and agreements as in existence as of the date of this Agreement
with respect to acts and occurrences occurring prior to the Effective Time. The articles of incorporation and code of regulations of the Surviving Corporation will contain provisions with respect to indemnification which are at least as favorable to
the D&O Indemnified Parties as those contained in the Company Articles of Incorporation and Company Bylaws as in effect on the date of this Agreement. 
  

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 (b) On or prior to the Closing, the Company may purchase, and pre-pay in full any premiums with respect
to, a six (6) year “tail” on the current directors’ and officers’ liability insurance maintained by the Company and/or the Company Subsidiaries (the “New D&O Tail”). As of the Effective Time, Parent will
cause the Surviving Corporation to assume such “tail” policy, and Parent agrees to use its reasonable best efforts to maintain in effect the New D&O Tail for the duration of its term without amendment or cancellation; provided,
however, that such efforts shall not require payment of any additional premiums or other amounts by the Surviving Corporation or Parent. 
 (c) In the event the Surviving Corporation 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 all or substantially all of its properties and assets to any Person, then, in each such case, proper provisions shall be made so that the successors and assigns of the Surviving Corporation, or at Parent’s option, Parent,
shall assume the obligations set forth in this Section 6.7. 
 (d) This Section 6.7 shall survive the consummation of
the Merger, is intended to benefit each of the D&O Indemnified Parties, shall be binding on all successors and assigns of the Surviving Corporation and Parent, shall be enforceable by each D&O Indemnified Party and his or her heirs and
representatives, and may not be amended, altered or repealed with respect to any D&O Indemnified Party after the Effective Time without the prior written consent of such D&O Indemnified Party (provided that any amendment, alteration or
repeal prior to the Effective Time shall be governed by Section 8.3). 
 6.8 Employees; Employee Benefits. 
 (a) It is anticipated by the Acquirors that each individual who was an employee of the Company or a Company Subsidiary immediately prior to the Effective
Time shall continue his or her employment with the Surviving Corporation upon the Effective Time (including each such individual who is on vacation, temporary layoff, leave of absence, sick leave or short or long–term disability leave) (each, a
“Continuing Employee”). Notwithstanding anything to the contrary contained herein, after the Effective Time, each Continuing Employee shall be employed solely on an “at will” basis and none of the Company, any Company
Subsidiary, the Parent, any Parent Subsidiary, or the Surviving Corporation shall be required to continue the employment of any particular Continuing Employee, except to the extent required by the provisions of a written employment Contract or as
required by applicable Law. 
 (b) After the Effective Time, the Acquirors shall continue (or cause the Surviving Corporation to continue)
coverage of the Continuing Employees under the general health and welfare plans and the Company 401(k) Savings Plan included in the Company Benefit Plans until March 31, 2009. Thereafter, the Continuing Employees shall either be eligible to
participate in any employee benefit plans thereafter adopted by the Company, or to participate in the employee benefit plans of Parent in accordance with the eligibility criteria thereof. If such Continuing Employees participate in the benefit plans
of Parent, (i) such Continuing Employees shall receive full credit for years of service with the Company or the Company Subsidiaries prior to the Merger for all purposes for which such service was recognized under the Company Benefit Plans
including recognition of service for eligibility and vesting, and (ii) such Continuing Employee shall participate in the employee benefit plans of Parent on terms no less favorable than those offered by the Parent to similarly situated
employees of Parent. The Acquirors shall use all reasonable efforts to waive all limitations as to pre-existing conditions, exclusions, evidence of insurability requirements and waiting periods with respect to participation and coverage requirements

  

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applicable to the Continuing Employees under any welfare or fringe benefit plan in which the Continuing Employees may be eligible to participate after the
Effective Time. The Continuing Employees shall be entitled to the severance benefits available to similarly situated employees of Parent under the Parent’s severance policies in existence at the time of such Continuing Employee’s
termination of employment. Notwithstanding the foregoing, the foregoing covenants of Acquirors shall not in any manner apply to the UK Pension or the obligations of any party thereunder or with respect thereto. 
 (c) Conditional upon the closing of the Merger, Parent agrees that it shall cause the Surviving Company to pay to the participants cash amounts which
become due and payable to such participants under the bonus plans of the Company identified in Section 6.8(c) of the Company Disclosure Letter in accordance with the applicable plan terms for performance ending on March 31, 2009.

 (d) Notwithstanding the foregoing, this Section 6.8 does not amend any provision of any Company Benefit Plan and is not
intended to and shall not require the Acquirors to continue any Company Benefit Plan beyond the time when it otherwise lawfully could be terminated or modified. Nothing herein expressed or implied by this Agreement shall confer upon any Continuing
Employee, or legal representative thereof, any rights or remedies, including, without limitation, any right to continued employment. 
 6.9
Reasonable Efforts; Cooperation. 
 (a) Subject to the limitations set forth in Section 6.5(d), each of the parties hereto
agrees to use reasonable efforts, and to cooperate with each other party hereto, to take, or cause to be taken, all actions, and to do, or cause to be done, all things reasonably necessary, appropriate or desirable to consummate and make effective,
in the most expeditious manner practicable, the Merger and the other transactions contemplated hereby, including (i) taking all reasonable actions necessary to satisfy the respective conditions set forth in Article 7 and
(ii) executing and delivering such other instruments and doing and performing such other acts and things as may be necessary or reasonably desirable to effect completely the consummation of the Merger and the other transactions contemplated
hereby. 
 (b) The Company and Parent shall cooperate and use commercially reasonable efforts to secure with respect to the Real Properties
prior to the Closing Date (i) estoppel letters, (ii) non-disturbance agreements, and (iii) landlord lien waivers; provided that commercially reasonable efforts shall not require payments of any amounts by the Company, any Company
Subsidiary or Parent (other than reasonable attorney’s fees). Additionally, the Company shall use its reasonable best efforts to obtain Consents with respect to the Contracts listed on Schedule C attached hereto. 
 6.10 Public Announcements. Parent and the Company shall consult with each other before issuing any press release, making any other public
statement or scheduling any press conference or conference call with investors or analysts with respect to this Agreement or the transactions contemplated by this Agreement. 
 6.11 Financing. 
 (a) Parent shall use
its commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to arrange and obtain the Financing contemplated by the Financing Commitment Letter, including
commercially reasonable efforts to enter into definitive agreements with respect thereto and complete the Financing at or prior to the Closing.
  

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 (b) In the event all or any portion of the Financing contemplated by the Financing Commitment Letter
becomes unavailable for any reason, Parent shall use its commercially reasonable efforts to arrange to obtain, as promptly as practicable following the occurrence of such event, alternative debt or equity financing (the “Alternative
Financing”) in an amount sufficient to consummate the transactions contemplated by this Agreement; provided, however, that for purposes of this Agreement such alternative debt or equity financing shall exclude the first $129.5 million of
net proceeds received by Parent from its public offering of shares of its Class A Common Stock as contemplated by the preliminary prospectus supplement for such offering expected to be filed by Parent with the SEC on or about February 2,
2009. 
 (c) Parent shall give the Company prompt written notice of any termination of the Financing proposal contemplated by the Financing
Commitment Letter (or commitments for any Alternative Financing obtained in accordance with Section 6.11 (b)) of which Parent becomes aware. Parent shall keep the Company informed on a reasonably current basis in reasonable detail of the
status of its efforts to arrange the Financing (or Alternative Financing obtained in accordance with Section 6.11(b)). 
 (d)
Parent shall not utilize the Financing to fund any other acquisition contemplated as of the date of this Agreement in any manner that would limit the availability of the portion of the Financing designated to fund and close the transactions
contemplated by this Agreement. 
 6.12 Tax Matters. 
 (a) Preparation and Filing of Tax Returns. The Company, at its expense, shall cause the Company and each Company Subsidiary to timely prepare and file any Tax Return (or amendment thereto) required to be filed
by the Company and each Company Subsidiary with respect to any Tax period ending on or prior to the Closing Date (“Pre-Closing Tax Periods”), to the extent such Tax Return (or amendment) is required to be filed on or before the
Closing Date (determined with regard to extensions). All such Tax Returns shall be prepared using accounting methods that were used in preparing the relevant Tax Returns for prior taxable periods. The Company shall permit Parent to review and
comment upon such Tax Returns, and shall not file such Tax Returns without the Parent’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Parent shall file or cause to be filed when due all Tax
Returns in respect of the Company and each Company Subsidiary: (i) for all Tax periods beginning after the Closing Date; (ii) for all Pre-Closing Tax Periods to the extent the Tax Returns in respect of such Tax periods are due after the
Closing Date (determined with regard to extensions); and (iii) for all Tax periods relating to the Company and each Company Subsidiary that commence on or before the Closing Date and end after the Closing Date (each, a “Straddle
Period”), including any Tax Return of the Company and each Company Subsidiary due on or after the Closing Date (determined with regard to extensions). 
 (b) Elections and Settlements. Without the prior written consent of Parent, which consent shall not be unreasonably, withheld, conditioned, or delayed, neither the Company nor any Company Subsidiary shall make
or change any election, file any amended Tax Return, enter into any closing agreement, settle any Tax claim or assessment, surrender any right to claim a refund of Taxes, consent to any extension or waiver of the limitation period applicable to any
Tax claim or assessment, or take any other action or omit to take any action, if any such election, amendment, agreement, settlement, surrender, consent or other action or omission may have the effect of increasing the Tax liability, or decreasing
any Tax asset, of the Company, any Company Subsidiary, Parent, or any affiliate of Parent. 
  

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 (c) Nonforeign Affidavit. Each Payee shall furnish the Parent an affidavit, stating, under
penalties of perjury, its United States taxpayer identification numbers and that the transferor is not a foreign person, pursuant to Section 1445(b)(2) of the Code. 
 (d) Payment of Transfer Taxes and Fees. The Acquirors shall bear the liability for and shall pay all excise, sales, use, transfer (including real property transfer or gains), stamp, documentary, filing,
recordation and similar taxes which may be imposed in connection with the transactions contemplated by this Agreement, together with any interest, additions or penalties with respect thereto. The Acquiror hereby agree to file all necessary
documentation (including, but not limited to, all tax returns) with respect to all such amounts in a timely manner consistent with this Section 6.12(d). 
 6.13 Repayment of Larkin Notes. Notwithstanding anything herein to the contrary, the aggregate consideration payable to William V. Larkin, Jr. pursuant to Article 3 shall be reduced by all amounts due to
the Company from Mr. Larkin under (x) that certain Promissory Note payable to the order of the Company in the original principal amount of $185,000.00, dated as of August 1, 2006 and (y) that certain Promissory Note payable to
the order of the Company in the original principal amount of $370,000.00, dated as of August 1, 2006. 
 6.14 Company 401(k) Savings
Plan. The Company shall, prior to the Closing Date: (i) take all actions in accordance with the Employee Plans Compliance Resolution System to remedy any operational failures with respect to the Company’s 401(k) Savings Plan, including
without limitation, with respect to eligibility, and (ii) submit copies to Parent of all documentation necessary to demonstrate timely adoption of all required amendments within the remedial amendment period under Code Section 401(b).

 6.15 SEC Filings. Parent shall furnish the Company for informational purposes only with copies of excerpts of each document Parent
intends to file (or to cause to be filed) with the SEC that reference the Company, any of its financial statements and/or the transactions contemplated by this Agreement within a reasonable period of time prior to such filing. 
 6.16 Termination of Wingate Agreement. Prior to the Closing, the Company shall take all actions necessary and appropriate to terminate that
certain Services Agreement, dated as of March 30, 2004, between the Company and Wingate Partners III, L.P. such that the Company shall have no further liability or obligation thereunder following the Closing Date. 
 6.17 Vesting. Prior to the Closing, the Company shall take all actions, if any, necessary and appropriate to cause all $1.25 Options Shares or
restricted stock granted or issued with a $1.25 Liquidity Event Trigger Price to automatically vest in connection with the Merger, and to cause all $1.75 Option Shares and $2.25 Option Shares to be cancelled and extinguished upon consummation of the
Merger without payment to the holder thereof. 
 ARTICLE 7 
 CLOSING CONDITIONS 
 7.1 Conditions to Obligations of Each Party under this Agreement. The
respective obligations of each party to effect the Merger and the other transactions contemplated herein shall be subject to the satisfaction, at or prior to the Effective Time, of the following conditions, any or all of which may be waived by
mutual agreement of Parent and the Company, in whole or in part, to the extent permitted by applicable Law: 
 (a) Company Shareholders
Approval. The Company Shareholders Approval shall have been obtained. 
  

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 (b) No Order. No Governmental Entity shall have enacted, issued, promulgated, enforced or entered
any statute, rule, regulation, executive order, decree, judgment, injunction, arbitration award, finding or other order (whether temporary, preliminary or permanent), in any case that is in effect and prevents or prohibits consummation of the Merger
(a “Restraint”). 
 (c) HSR Act. Any applicable waiting periods, together with any extensions thereof, under the HSR
Act or any other Antitrust Laws shall have expired or been terminated. 
 (d) Court Proceedings. No Governmental Entity shall have
instituted (or if instituted, shall not have withdrawn) any action, suit, proceeding, claim, arbitration or investigation wherein an unfavorable injunction, judgment, order, decree, ruling or charge would (i) prevent or materially restrain the
consummation of the transactions contemplated by this Agreement or (ii) cause any of the transactions contemplated by this Agreement to be rescinded following consummation thereof; provided, however, that, prior to invoking this condition, each
party shall have complied fully with its obligations under Section 6.5. 
 7.2 Additional Conditions to Obligations of Parent
and Merger Sub. The obligations of Parent and Merger Sub to effect the Merger and the other transactions contemplated herein are also subject to the satisfaction, at or prior to the Effective Time, of the following conditions, any or all of
which may be waived by Parent, in whole or in part, to the extent permitted by applicable Law: 
 (a) Representations and Warranties.
The representations and warranties of the Company contained in this Agreement, in each case disregarding and without giving any effect to all qualifications and exceptions contained herein relating to materiality or Material Adverse Effect, shall be
true and correct as of the Effective Time (except that those representations and warranties that address matters only as of a particular date need only be true and correct as of such date) as though made on and as of that time, except where the
failure of such representations and warranties to be so true and correct has not had and would not reasonably be expected to have a Material Adverse Effect; provided, however, that the failure of the representations and warranties of the Company
contained in Section 4.8(o), (p) and (q) to be true and correct shall not, under any circumstances, be a condition to the obligations of Parent and Merger Sub to effect the Merger. 
 (b) Agreements and Covenants. The Company shall have performed or complied in all material respects with all agreements and covenants required by
this Agreement to be performed or complied with by it on or prior to the Effective Time. 
 (c) Closing Documents. The following
documents shall have been delivered to Parent and Merger Sub: 
 (i) a certificate of the Company in substantially the form
attached hereto as Exhibit B, dated as of the Closing Date, executed on behalf of the Company by the Chief Executive Officer and Chief Financial Officer, certifying that the conditions in Section 7.2(a) and (b) as to
the Company are or have been duly satisfied; 
 (ii) certificates of the appropriate Governmental Entities, dated within
thirty (30) days of the Closing Date, certifying that (A) the Company and the Company Subsidiaries are in good standing and are duly qualified to conduct business in the applicable state of organization and (B) the Company is in good
standing and duly qualified to conduct business in each applicable jurisdiction set forth in Section 4.1(a) of the Company Disclosure Letter; 
  

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 (iii) resolutions of the board of directors of the Company approving the transactions
contemplated by this Agreement, certified by the secretary or other appropriate officer(s) of the Company; and 
 (iv) the
Certificate of Merger, executed by the Company. 
 (d) Financing Documents. Parent shall have entered into definitive agreements and
consummated the Financing or the Alternative Financing. 
 7.3 Additional Conditions to Obligations of the Company. The obligation of
the Company to effect the Merger and the other transactions contemplated herein are also subject to the satisfaction, at or prior to the Effective Time, of the following conditions, any or all of which may be waived by the Company, in whole or in
part, to the extent permitted by applicable Law: 
 (a) Representations and Warranties. The representations and warranties of Parent
and the Merger Sub contained in this Agreement, in each case disregarding and without giving any effect to all qualifications and exceptions contained herein relating to materiality or Material Adverse Effect, shall be true and correct as of the
Effective Time (except that those representations and warranties that address matters only as of a particular date) need only be true and correct as of such date as though made on and as of that time, except where the failure of such representations
and warranties to be so true and correct has not had and would not reasonably be expected to have a Parent Material Adverse Effect. 
 (b)
Agreements and Covenants. Parent shall have performed or complied with, in all material respects, all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Effective Time. 
 (c) Closing Documents. The following documents shall have been delivered to Company: 
 (i) a certificate of each of Parent and Merger Sub in substantially the forms attached hereto as Exhibit C and D, dated as
of the Closing Date, executed on behalf of each of Parent and Merger Sub by the Chief Executive Officer and Chief Financial Officer, respectively, certifying that the conditions in Section 7.3(a) and (b) as to each of Parent
and Merger Sub are or have been duly satisfied; 
 (ii) resolutions of the board of directors of each of Parent and Merger Sub
approving the transactions contemplated by this Agreement, certified by the secretary or other appropriate officer(s) of each of Parent and Merger Sub; 
 (iii) the Certificate of Merger, executed by each of Parent and Merger Sub; and 
 (iv) the
Exchange Agent Agreement, executed by Parent and the Exchange Agent. 
  

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 ARTICLE 8 
 TERMINATION, AMENDMENT AND WAIVER 
 8.1 Termination. This Agreement may be terminated, and the
Merger and the other transactions contemplated by this Agreement may be abandoned, at any time prior to the Effective Time, by action taken or authorized by the Board of Directors of the terminating party or parties, whether before or after the
Company Shareholders Approval has been obtained: 
 (a) By mutual written consent of Parent and the Company; 
 (b) By either Parent or the Company if the Merger shall not have been consummated prior to 5:00 p.m. CST on March 31, 2009 (provided, however, that
the right to terminate this Agreement pursuant to this clause (b) shall not be available to any party whose breach of any representation or warranty or failure to perform or satisfy any covenant or agreement under this Agreement has been the
principal cause of or resulted in the failure of the Merger to occur on or before such date); 
 (c) By either Parent or the Company if any
Governmental Entity shall have issued a Restraint and such Restraint shall have become final and nonappealable; (provided, however, that the right to terminate this Agreement pursuant to this clause (c) shall not be available to any party whose
failure to fulfill any material obligation under this Agreement has been the principal cause of or resulted in such Restraint); 
 (d) By
either Parent or the Company if the Company Shareholders Approval shall not have been obtained upon a vote taken thereon at the Company Shareholders Meeting or at any adjournment or postponement thereof; provided, however, that the right to
terminate this Agreement under this Section 8.1(d) shall not be available to the Company where the failure to obtain the Company Shareholders Approval is caused by any action or failure to act of the Company that constitutes a material
breach of Section 6.2 of this Agreement; 
 (e) By Parent if (at any time prior to obtaining the Company Shareholders Approval)
(i) the Company Board or any committee thereof shall for any reason have made an Adverse Recommendation Change, (ii) the Company Board or any committee thereof shall have approved or publicly recommended any Acquisition Proposal,
(iii) the Company shall have entered into any letter of intent with respect to or other Contract for any Acquisition Proposal, or (iv) the Company shall have materially breached any of the provisions of Sections 6.2 or 6.4;

 (f) By the Company, in accordance with Section 6.4(c); provided that, in order for the termination of this Agreement pursuant
to this paragraph (f) to be deemed effective, the Company shall have complied with Section 6.4(c) and with applicable requirements, including the payment of the Company Termination Fee pursuant to Section 8.2(b);

 (g) By Parent if, since the date of this Agreement, there shall have been any Effect that constitutes or has had a Material Adverse Effect
or if (i)(A) the Company shall have materially breached any of its covenants or agreements set forth in this Agreement or (B) any representation or warranty of the Company set forth in this Agreement shall have become materially untrue or
incorrect, (ii) such breach or misrepresentation, if curable, is not cured within twenty (20) Business Days after written notice thereof, and (iii) such breach or misrepresentation would cause the conditions set forth in
Section 7.2(a) or Section 7.2(b) not to be satisfied; 
  

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 (h) By the Company if (i)(A) either Parent or Merger Sub has materially breached any of its covenants or
agreements set forth in this Agreement or (B) any representation or warranty of Parent or Merger Sub set forth in this Agreement shall have become materially untrue or incorrect, (ii) such breach or misrepresentation, if curable, is not
cured within twenty (20) Business Days after written notice thereof, and (iii) such breach or misrepresentation would cause the conditions set forth in Section 7.3(a) or Section 7.3(b) not to be satisfied;

 (i) By the Company if Parent or Merger Sub has materially breached any of its covenants set forth in Section 6.11 and such
breach, if curable, is not cured within five (5) Business Days after written notice thereof; or 
 (j) By Parent if the Financing or the
Alternative Financing shall not have been consummated by 5:00 p.m. CST on March 31, 2009. 
 8.2 Effect of Termination; Limitation on
Liability. 
 (a) Effect of Termination. In the event of termination of this Agreement by either the Company or Parent as provided
in Section 8.1, this Agreement shall forthwith become void and there shall be no liability or obligation on the part of Parent or the Company or their respective Subsidiaries, officers, directors or shareholders, except (i) with
respect to Section 6.3 (Confidentiality), this Section 8.2 (Effect of Termination) and Article 10 (General Provisions) and (ii) with respect to any liabilities or damages incurred or suffered by a party as a
result of the willful and material breach by the other party of any of its representations, warranties, covenants or other agreements set forth in this Agreement. 
 (b) Company Termination Fee. The Company shall pay to Parent a termination fee of $5,000,000 (the “Company Termination Fee”) in immediately available funds in the event that this Agreement is
terminated (i) by the Company pursuant to Section 8.1(f), or (ii) by Parent pursuant to Section 8.1(e) and, in the case of clause (ii), (A) at any time after the date of this Agreement and before the vote on
this Agreement at the Company Shareholders Meeting, an Acquisition Proposal with respect to the Company shall have been publicly announced and not withdrawn and (B) the Company enters into a definitive agreement with respect to an Acquisition
Proposal, or an Acquisition Proposal is consummated, within six (6) months following the termination of this Agreement. Payment of any amount described in this Section 8.2(b) shall be the sole and exclusive remedy of Parent and
Merger Sub for termination of this Agreement. Any payment required to be made pursuant to Section 8.2(b)(ii) shall be made no later than two (2) Business Days after entering into of a definitive agreement with respect to, or the
consummation of, an Acquisition Proposal. All payments under this Section 8.2(b) shall be made by wire transfer of immediately available funds to an account designated by Parent. The Company acknowledges that the agreements contained in
this Section 8.2 are an integral part of the transactions contemplated by this Agreement and that, without these agreements, Parent would not enter into this Agreement. Accordingly, if the Company fails promptly to pay any amount due to
the other party pursuant to this Section 8.2 and, in order to obtain such payment, Parent commences a suit that results in a judgment against the Company for all or any portion of the amounts set forth in this Section 8.2,
the Company shall pay to Parent its costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such suit, together with interest on the aggregate amount of the fees and expenses at a rate equal to the
prime rate reported in The Wall Street Journal on the date such payment was required to be made plus 2%. 
 (c) Reverse Termination
Fee. Parent shall pay to the Company a termination fee of $3,000,000 in immediately available funds in the event that this Agreement is terminated (i) by either Parent or the Company pursuant to Section 8.1(b) and either the
Financing or the Alternative Financing shall not have been consummated, unless either (A) the failure to consummate the Financing or the 

  

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Alternative Financing was not the principal cause of the failure of the Merger to occur, or (B) the failure to consummate the Financing or the
Alternative Financing was caused by a breach by the Company of any of its representations, warranties, covenants or agreements set forth in this Agreement, (ii) by the Company pursuant to Section 8.1(i), or (iii) by Parent
pursuant to Section 8.1(j). Payment of the full amount described in this Section 8.2(c) shall be the sole and exclusive remedy of the Company for termination of this Agreement, unless (i) this Agreement is terminated
either (A) by Parent or Company pursuant Section 8.1(b), or (B) by the Parent pursuant to Section 8.1(j), (ii) the failure to consummate the Financing or the Alternative Financing was not the principal cause of the
failure of the Merger to occur, and (iii) the Company has not rejected payment of the amount described in this Section 8.2(c) on or before the third (3rd) Business Day after delivery thereof. All payments under this Section 8.2(c) shall be made by wire transfer of immediately available funds to an account designated by the Company. Parent acknowledges
that the agreements contained in this Section 8.2 are an integral part of the transactions contemplated by this Agreement and that, without these agreements, the Company would not enter into this Agreement. Accordingly, if Parent fails
promptly to pay any amount due to the other party pursuant to this Section 8.2 and, in order to obtain such payment, the Company commences a suit that results in a judgment against Parent for all or any portion of the amounts set forth
in this Section 8.2, Parent shall pay to the Company its costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such suit, together with interest on the aggregate amount of the fees and
expenses at a rate equal to the prime rate reported in The Wall Street Journal on the date such payment was required to be made plus 2%. 
 8.3 Amendment. This Agreement may be amended by the parties hereto, whether before or after the Company Shareholders Approval has been obtained, at any time prior to the Effective Time; provided, however, that, after the Company
Shareholders Approval has been obtained, no amendment may be made without further shareholder approval that by Law requires further approval by such shareholders. This Agreement may not be amended except by an instrument in writing signed by the
parties hereto. 
 8.4 Waiver. At any time prior to the Effective Time, either Parent or Merger Sub, on the one hand, or the Company,
on the other hand, may (a) extend the time for the performance of any of the obligations or other acts of the other, (b) waive any inaccuracies in the representations and warranties of the other contained herein or in any document
delivered pursuant hereto, and (c) waive compliance by the other with any of the agreements or conditions contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by Parent and the
Company, but such extension or waiver or failure to insist on strict compliance with an obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 8.5 Fees and Expenses. Whether or not the Merger is consummated, except as provided in Sections 6.12(d) and 8.2, each party hereto
shall be responsible and liable for, and shall pay, the Expenses incurred by such party. 
 ARTICLE 9 
 NON SURVIVAL OF REPRESENTATIONS AND 
 WARRANTIES; COVENANTS; NO INDEMNIFICATION 
 9.1 Survival of Representations, Warranties and Covenants. None of the
representations and warranties in this Agreement or in any document or instrument related to this Agreement shall survive the Effective Time. None of the covenants to be performed on or before the Effective Time in this Agreement or in any document
or instrument related to this Agreement shall survive the Effective Time; provided that this Section 9.1 shall not limit any covenant or agreement of the parties that by its terms contemplates performance after the Effective Time.

  

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 ARTICLE 10 
 GENERAL PROVISIONS 
 10.1 [Intentionally Omitted]. 
 10.2 Notices. Any notices or other communications required or permitted under, or otherwise in connection with, this Agreement shall be in writing
and shall be deemed to have been duly given when delivered in person or upon confirmation of receipt when transmitted by facsimile transmission (but only if followed by transmittal by national overnight courier or hand delivery on the next Business
Day) or upon receipt after dispatch by registered or certified mail, postage prepaid, or on the next Business Day if transmitted by national overnight courier, in each case addressed as follows: 
 If to Parent or Merger Sub, addressed to it at: 
 Insituform Technologies, Inc. 
 17988 Edison Avenue 
 Chesterfield, MO (USA) 63005 
 Attn: General Counsel 
 Facsimile: (636) 530-8701 
 with a
mandated copy, which shall not constitute notice, to: 
 Thompson Coburn LLP 
 One US Bank Plaza 
 St. Louis, Missouri 63101

 Attn: Robert M. LaRose 
 Facsimile: (314) 552-7171 
 If to the Company, addressed to it at: 
 Corrpro Companies, Inc. 
 1090 Enterprise
Drive 
 Medina, OH 44256 
 Attn:
William Larkin 
 Facsimile: (330) 723-0694 
 with mandated copies, which shall not constitute notice, to: 
 Haynes and Boone, LLP 
 2323 Victory Avenue, Suite 700 
 Dallas, TX
75219 
 Attn: Thomas H. Yang 
 Facsimile: (214) 200-0641 
 10.3 Headings. The headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement. 
 10.4 Severability. If any term or other provision of
this Agreement is invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of
the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon 

  

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such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto 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 to the end that transactions contemplated hereby are fulfilled to the extent possible. 
 10.5 Entire Agreement. This Agreement (together with the Exhibits, Company Disclosure Letter and the other documents delivered pursuant hereto)
and the Confidentiality Agreement constitute the entire agreement of the parties and supersede all prior agreements and undertakings, both written and oral, among the parties, or any of them, with respect to the subject matter hereof. 
 10.6 Assignment. None of this Agreement or any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto,
in whole or in part, by operation of Law or otherwise, without the prior written consent of the other parties, and any attempt to make any such assignment without such consent shall be null and void. Notwithstanding the foregoing, Merger Sub may
assign, in its sole discretion, any and all rights, interests and obligations under this Agreement to any wholly owned Parent Subsidiary without the Company’s consent; provided, however, that no such assignment shall relieve the assigning party
of its obligations hereunder. 
 10.7 Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of
each party hereto and their respective successors and assigns, and nothing in this Agreement, express or implied, other than pursuant to Section 6.7, is intended to or shall confer upon any other Person any right, benefit or remedy of
any nature whatsoever under or by reason of this Agreement. 
 10.8 Mutual Drafting. Each party hereto has participated in the
preparation and drafting of this Agreement, which each party acknowledges is the result of extensive negotiations between the parties. 
 10.9 Governing Law; Consent to Jurisdiction; Waiver of Trial by Jury. 
 (a) This Agreement shall be governed by, and
construed in accordance with, the Laws of the State of Ohio without reference to such state’s principles of conflicts of law. 
 (b)
Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the state courts of the State of Ohio or Federal court of the United States of America, located in the State of
Ohio, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the agreements delivered in connection herewith or the transactions contemplated hereby or thereby or for recognition or
enforcement of any judgment relating thereto, and each of the parties hereby irrevocably and unconditionally (i) agrees not to commence any such action or proceeding except in such courts, (ii) agrees that any claim in respect of any such
action or proceeding may be heard and determined in such Ohio state court or, to the extent permitted by Law, in such Federal court, (iii) waives, to the fullest extent it may legally and effectively do so, any objection that it may now or
hereafter have to the laying of venue of any such action or proceeding in any such Ohio state or Federal court, and (iv) waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such Ohio state or Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by Law. Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.2. Nothing in this Agreement will affect the right of any party to this Agreement to serve
process in any other manner permitted by Law. 
  

 61 

 (c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND
ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (C) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D) IT
HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.9(c). 
 10.10 Execution. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement, and all of which, when taken together, shall be deemed to constitute one and the same
agreement. The exchange of copies of this Agreement and of signature pages by facsimile or other electronic transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original
Agreement for all purposes. Signatures of the parties transmitted by facsimile or other electronic transmission shall be deemed to be their original signatures for any purpose whatsoever. 
 10.11 Remedies Cumulative; Specific Performance. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party
hereto shall be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by Law or equity upon such party, and the exercise by a party hereto of any one remedy shall not preclude the exercise of any other remedy and nothing
in this Agreement shall be deemed a waiver by any party of any right to specific performance or injunctive relief. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions hereof in addition to any other remedy to which they are entitled at Law or in equity. Each party hereto agrees to waive any requirement for the posting of, or securing of, a bond in connection with any such remedy. 
 10.12 Interpretation. 
 (a) When a
reference is made in this Agreement to Articles, Sections, Exhibits or Schedules, such reference shall be to an Article or Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated. Where a reference is made to a Law, such
reference is to such Law as amended. 
 (b) The words “include,” “includes” and “including” when used herein
shall be deemed in each case to be followed by the words “without limitation” to the extent such words are not so qualified. The phrases “provided to,” “furnished to,” and phrases of similar import when used herein,
unless the context otherwise requires, shall mean that a true, correct and complete paper copy of the information or material referred to has been delivered to the party to whom such information or material is to be provided. Unless the context of
this Agreement otherwise requires, (i) words of any gender include each other gender, (ii) words using the singular or plural number also include the plural or singular number, respectively, and (iii) the terms “hereof,”
“herein,” “hereunder” and derivative or similar words refer to this entire Agreement. 
  

 62 

 10.13 Company Disclosure Letter. Any matter disclosed in any section of the Company Disclosure
Letter disclosure schedule shall, should it be apparent on its face that is it also applicable to any other paragraph or section of the Agreement, be considered disclosed with respect to such other paragraph or Section of the Agreement. The
provision of monetary or other quantitative thresholds for disclosure does not and shall not be deemed to create or imply a standard of materiality hereunder. If, subsequent to the date of this Agreement and prior to the Closing Date, one or more
events occur that render untrue any representation or warranty of the Company (each, a “Subsequent Event”), the Company shall deliver prior to Closing to Parent an amended or supplemental Schedule (the “Subsequent Disclosure
Schedule”) which will contain a description of all such Subsequent Events. The existence of any Subsequent Event which is disclosed on the Subsequent Disclosure Schedule shall not constitute any breach by the Company of any representations
or warranties hereunder or form a basis for any indemnification or other claim by the Parent hereunder, but shall be taken into account in determining whether conditions precedent have been satisfied; provided, however, that the immediately
preceding language is not intended to permit the Company to alter or amend the representations and warranties as made herein as of the date of this Agreement and shall not cure the inaccuracy thereof as of the date of this Agreement for any purpose
under this Agreement. 
 [Remainder of page intentionally left blank] 
  

 63 

 IN WITNESS WHEREOF, Parent, Merger Sub and the Company have caused this Agreement to be executed as of
the date first written above by their respective officers thereunto duly authorized. 
  

			
	INSITUFORM TECHNOLOGIES, INC.
		
	By:	 	 /s/ J. Joseph Burgess

	Name:	 	J. Joseph Burgess
	Title:	 	President & Chief Executive Officer
	
	FIRST DOWN ACQUISITION CORPORATION
		
	By:	 	 /s/ J. Joseph Burgess

	Name:	 	J. Joseph Burgess
	Title:	 	President & Chief Executive Officer
	
	CORRPRO COMPANIES, INC.
		
	By:	 	 /s/ William V. Larkin, Jr.

	Name:	 	William V. Larkin, Jr.
	Title:	 	President & Chief Executive Officer

 EXHIBIT A  
 CERTIFICATE OF MERGER 

 EXHIBIT B 
 COMPANY CLOSING CERTIFICATE 
 CLOSING CERTIFICATE 
 OF 
 CORRPRO COMPANIES, INC. 

 [            ] [    ], 2009

 Pursuant to and in accordance with Section 7.2(c)(i) of that certain Agreement and Plan of Merger dated January
[    ], 2009 (the “Agreement”) by and among Insituform Technologies, Inc. (“Parent”), First Down Acquisition Corporation (“Merger Sub”), and Corrpro Companies, Inc. (the
“Company”), the undersigned on behalf of the Company do hereby represent, warrant, and certify to Parent and Merger Sub that (each capitalized term used and not defined herein shall have the meaning assigned to such term in the
Agreement unless the context clearly requires otherwise): 
 1. The representations and warranties of the Company contained in the Agreement,
in each case disregarding and without giving any effect to all qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, shall be true and correct as of the Effective Time (except that those representations
and warranties that address matters only as of a particular date need only be true and correct as of such date), except where the failure of such representations and warranties to be so true and correct has not had and would not reasonably be
expected to have a Material Adverse Effect; 
 2. The Company shall have performed or complied in all material respects with all agreements
and covenants required by the Agreement to be performed or complied with by it on or prior to the Effective Time; and 
 3. That the
undersigned signatories are authorized, in the capacity of such undersigned signatory as a duly elected or appointed and qualified and acting officer, partner, manager, member, trustee, agent, or attorney-in-fact of the Company, to execute and
deliver this Closing Certificate on behalf of the Company. 
 [Remainder of Page Intentionally Left Blank; Signature Page(s) To Follow]

 IN WITNESS WHEREOF, the undersigned have executed and delivered this Closing Certificate of behalf of the
Company effective as of the date first written above. 
  

			
	CORRPRO COMPANIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Executive Officer
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Financial Officer

 EXHIBIT C  
 PARENT CLOSING CERTIFICATE 
 CLOSING CERTIFICATE 
 OF 
 INSITUFORM TECHNOLOGIES, INC.

 [            ] [    ], 2009

 Pursuant to and in accordance with Section 7.3(c)(i) of that certain Agreement and Plan of Merger dated January
[    ], 2009 (the “Agreement”) by and among Insituform Technologies, Inc. (“Parent”), First Down Acquisition Corporation (“Merger Sub”), and Corrpro Companies, Inc. (the
“Company”), the undersigned on behalf of the Parent hereby represent, warrant, and certify to the Company that (each capitalized term used and not defined herein shall have the meaning assigned to such term in the Agreement unless
the context clearly requires otherwise): 
 1. The representations and warranties of Parent contained in the Agreement, in each case
disregarding and without giving any effect to all qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, shall be true and correct as of the Effective Time (except that those representations and
warranties that address matters only as of a particular date need only be true and correct as of such date), except where the failure of such representations and warranties to be so true and correct has not had and would not reasonably be expected
to have a Material Adverse Effect; 
 2. Parent shall have performed or complied in all material respects with all agreements and covenants
required by the Agreement to be performed or complied with by it on or prior to the Effective Time; and 
 3. That the undersigned
signatories are authorized, in the capacity of such undersigned signatory as a duly elected or appointed and qualified and acting officer, partner, manager, member, trustee, agent, or attorney-in-fact of Parent, to execute and deliver this Closing
Certificate on behalf of Parent. 
 [Remainder of Page Intentionally Left Blank; Signature Page(s) To Follow] 
 Signature Page to Closing Certificate of Insituform Technologies, Inc. 

 IN WITNESS WHEREOF, the undersigned have executed and delivered this Closing Certificate on behalf of
Parent effective as of the date first written above. 
  

			
	INSITUFORM TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Executive Officer
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Financial Officer

 Signature Page to Closing Certificate of Insituform Technologies, Inc.

 EXHIBIT D  
 MERGER SUB CLOSING CERTIFICATE 
 CLOSING CERTIFICATE 
 OF 
 FIRST DOWN ACQUISITION
CORPORATION 
 [                    ] [    ], 2009 
 Pursuant to and in accordance with Section 7.3(c)(i) of that certain Agreement and Plan of Merger dated January [    ],
2009 (the “Agreement”) by and among Insituform Technologies, Inc. (“Parent”), First Down Acquisition Corporation (“Merger Sub”), and Corrpro Companies, Inc. (the “Company”), the
undersigned on behalf of Merger Sub do hereby represent, warrant, and certify to the Company that (each capitalized term used and not defined herein shall have the meaning assigned to such term in the Agreement unless the context clearly requires
otherwise): 
 1. The representations and warranties of Merger Sub contained in the Agreement, in each case disregarding and without giving
any effect to all qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, shall be true and correct as of the Effective Time (except that those representations and warranties that address matters only as
of a particular date need only be true and correct as of such date), except where the failure of such representations and warranties to be so true and correct has not had and would not reasonably be expected to have a Material Adverse Effect;

 2. Merger Sub shall have performed or complied in all material respects with all agreements and covenants required by the Agreement to be
performed or complied with by it on or prior to the Effective Time; and 
 3. That the undersigned signatories are authorized, in the
capacity of such undersigned signatory as a duly elected or appointed and qualified and acting officer, partner, manager, member, trustee, agent, or attorney-in-fact of Merger Sub, to execute and deliver this Closing Certificate on behalf of Merger
Sub. 
 [Remainder of Page Intentionally Left Blank; Signature Page(s) To Follow] 
  

 A-1 

 IN WITNESS WHEREOF, Merger Sub has executed and delivered this Closing Certificate effective as of the
date first written above. 
  

			
	FIRST DOWN ACQUISITION CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Executive Officer
		
	By:	 	  

	Name:	 	  

	Title:	 	Chief Financial Officer

  

 A-2

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