Document:

Exhibit 4.2

 

EXHIBIT 4.2

FIRST AMENDMENT TO

CREDIT AGREEMENT

     This First Amendment to Credit Agreement (this “Amendment”) is entered into on June
27, 2006 with effect on June 16, 2006 (the “Effective Date”) by and between LaSalle Bank
National Association, a national banking association (the “Lender”) and Telvent Traffic
North America Inc., a Texas corporation (the “Borrower”).

RECITALS

     WHEREAS, the Borrower and the Lender are parties to that certain Credit Agreement, dated as of
May 31, 2006 (as amended from time to time, the “Agreement”);

     WHEREAS, the Borrower and the Lender desire to amend the Agreement in order to provide for the
transfer of ownership of all of the capital stock in the Borrower from Telvent GIT, SA, a company
organized and existing under the law of Spain (the “Guarantor”) to Telvent Trafico y
Transporte, S.A., a company organized and existing under the law of Spain (“TTT”) on terms
and conditions set forth in the Share Purchase Agreement, dated as of June 16, 2006, by and between
Guarantor and TTT appearing as Annex A hereto (such agreement, together with any related agreements
and instruments, the “TTT Transfer Documents”);

     WHEREAS, TTT as of the Effective Date, TTT is a wholly-owned subsidiary of the Guarantor;

     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the
parties hereto agree as follows:

	1.	 	Defined Terms. Capitalized terms used herein but not defined herein shall have the
meanings ascribed thereto in the Agreement, as amended hereby.
	 
	2.	 	Amendments.

     (a) The following new definition is hereby added to Section 1.01 in appropriate alphabetical
order:

	 	 	 	“‘TTT’ means Telvent Trafico y Transporte, S.A., a company organized and
existing under the law of Spain.”

     (b) The definition of “Change of Control” contained in Section 1.1 is hereby deleted in its
entirety and replaced as follows:

 

	 	 	 	“‘Change of Control’ shall mean each and every issue, sale or other
disposition of shares of any class or classes of capital stock of the Borrower, TTT
or the Guarantor, whether by means of an initial public offering or otherwise,
which results in any Acquirer beneficially owning or controlling, directly or
indirectly, more than 50% (by number of votes) of the Voting Stock of any of the
Borrower, the Guarantor or TTT except for the transfer of Voting Stock in the
Borrower from Guarantor to TTT pursuant to the Share Purchase Agreement, dated as
of June 16, 2006, by and between Guarantor and TTT .”

     (c) Section 7.01 is hereby amended to insert the phrase “or TTT” after the phrase “any
Subsidiary” on the first line thereof.

     (d) Section 7.02 is hereby amended to insert the phrase “or TTT” after the references to “any
Subsidiary” contained in the first, fifth and eighth lines thereof.

	3.	 	Effectiveness. This Amendment shall become effective as of the Effective Date when
the Lender has received all of the following acknowledged to be satisfactory by the Lender:

     (a) This Amendment, executed by the requisite signatories;

     (b) A certificate, signed by the chief financial officer of the Borrower substantially in the
form of Exhibit 1 attached hereto and made a part hereof, stating that as of the Effective Date
(after giving effect to this Amendment) no Default or Event of Default has occurred and is
continuing and further certifying that the representations and warranties contained in Article 5 of
the Agreement are true and correct on and as of the Effective Date;

     (c) The Lender shall have reviewed and in its reasonable discretion approved the TTT Transfer
Documents (which shall, if rendered in the Spanish language, be translated to the English language)
and which TTT Transfer Documents shall be executed, delivered, performed and in full force and
effect; and

     (d) Such other documents, instruments, approvals (and, if requested by the Lender, certified
duplicates of executed copies thereof) or opinions as the Lender may reasonably request.

	4.	 	Representations and Warranties. The Borrower represents and warrants to the Lender
(which representations and warranties shall become part of the representations and warranties
made by the Borrower under the Agreement) that:

     (a) The execution, delivery and performance of this Amendment and the TTT Transfer Documents
have been duly authorized by all necessary action of all parties thereto and will not require any
consent or approval of any person or entity, violate in any material respect any provision of any
law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently
in effect having applicability to it or constitute a default under any indenture or loan or credit
agreement or any other

-2-

 

agreement, lease or instrument to which the Borrower, Guarantor or TTT is a party or by which
it or its properties may be bound or affected;

     (b) No consent, approval or authorization of or declaration or filing with any governmental
authority or any non-governmental person or entity, including without limitation, any creditor or
partner of the Borrower, the Guarantor or TTT is required on the part of the Borrower, the
Guarantor or TTT in connection with the execution, delivery and performance of this Amendment or
the TTT Transfer Documents or the transactions contemplated hereby and the execution, delivery and
performance of this Amendment or the TTT Transfer Documents will not violate the terms of any
contract or agreement to which the Borrower, the Guarantor or TTT is a party;

     (c) The Agreement and the TTT Transfer Documents are the legal, valid and binding obligation
of the Borrower the Guarantor and TTT, enforceable against each of them in accordance with the
terms thereof;

     (d) The most recent financial statements and preliminary financial statements of the Borrower
delivered to the Lender are complete and accurate in all material respects and present fairly the
financial condition of the Borrower as of such date in accordance with generally accepted
accounting principles. There has been no adverse material change in the condition of the business,
properties, operations or condition, financial or otherwise, of the Borrower since the date of such
financial statements. There are no material liabilities of the Borrower, fixed or contingent,
which are material but not reflected on such financial statements or in the notes thereto; and

     (e) After giving effect to this Amendment, no Default or Event of Default has occurred or
exists under the Agreement as of the Effective Date hereof.

	5.	 	Acknowledgement and Reaffirmation. The Borrower hereby ratifies and affirms all of
the obligations and undertakings contained in the Agreement and the Agreement remains in full
force and effect in accordance with its terms. The Borrower hereby acknowledges, agrees and
affirms that each document and instrument securing or supporting the obligations and
indebtedness owing to the Lenders and Funding Agents prior to the date of this Amendment
remains in full force and effect in accordance with its terms, and that such security and
support remains in full force effect as to all obligations under the Agreement.

	6.	 	Expenses. The Borrower jointly and severally agree to pay and save the Lenders and
Funding Agents harmless from liability for the payment of all costs and expenses arising in
connection with this Amendment, including the reasonable fees and expenses of Baker & McKenzie
LLP, counsel to certain of the Lenders, in connection with the preparation and review of this
Amendment and any related documents.

	7.	 	Governing Law. This Amendment shall be governed by, and shall be construed and
enforced in accordance with, the laws of the State of Illinois.

-3-

 

	8.	 	Counterparts; Facsimile. This Amendment may be executed in one or more counterparts,
each of which together shall constitute the same agreement. One or more counterparts of this
Amendment may be delivered by facsimile, with the intention that such delivery shall have the
same effect as delivery of an original counterpart thereof.

[The remainder of this page has been left blank intentionally]

-4-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the date first written above.

	 	 	 	 	 	 
	 	 	BORROWER:
	 
	 	 	 	 
	 	 	TELVENT TRAFFIC NORTH AMERICA INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	BY:
	 	/s/ Steve Aasen
	 

	 	 	 	 
	 

	 	TITLE:
	 	Treasurer
	 

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	LENDER
	 
	 	 	 	 
	 	 	LASALLE BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Amy Kehoe
	 

	 	 	 	 
	 

	 	TITLE:
	 	First Vice President
	 

	 	 	 	 

-5-

 

ACKNOWLEDGEMENT

The undersigned, Telvent GIT SA, a company organized and existing under the laws of Spain, and the
Guarantor under the Credit Agreement, hereby acknowledges and agrees that (i) it has received and
reviewed the foregoing Amendment and is familiar with the terms thereof and (ii) its Guaranty of
the Credit Agreement remains in full force and effect as of the date hereof and after giving effect
to the foregoing Amendment.

	 	 	 	 
	 
	 	 
	TELVENT GIT SA
	 
	 	 
	 
	 	 
	By:

	 	/s/ Ana Plaza
	 

	 	 
	TITLE:

	 	Chief Financial Officer
	 

	 	 
	 
	 	 
	 
	 	 
	By:

	 	Steve Aasen
	 

	 	 
	TITLE:

	 	as authorized by Board of Directors
	 

	 	 

-6-exv10w1

 

EXHIBIT 10.1

EXECUTION COPY

 

 

 

STOCK AND ASSET PURCHASE AGREEMENT

among

PARSONS BRINCKERHOFF QUADE & DOUGLAS, INC.,

PB FARRADYNE, INC.,

PB ENERGY STORAGE SERVICES, INC.

and

TELVENT TRAFFIC NORTH AMERICA INC.

 

Dated as of May 18, 2006

 

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE I

DEFINITIONS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 1.01

	 	Definitions
	 	 	1	 
	 
	 	 	 	 	 	 
	ARTICLE II

PURCHASE AND SALE
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 2.01

	 	Purchase and Sale of the Shares
	 	 	10	 
	Section 2.02

	 	Purchase and Sale of Assets; Assumption of Liabilities
	 	 	10	 
	Section 2.03

	 	Purchase Price; Allocation of Purchase Price
	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE III

CLOSING
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 3.01

	 	Closing
	 	 	13	 
	Section 3.02

	 	Closing Deliveries
	 	 	14	 
	Section 3.03

	 	Purchase Price Adjustment
	 	 	17	 
	Section 3.04

	 	Indemnity Escrow
	 	 	19	 
	 
	 	 	 	 	 	 
	ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF SELLER, PB ENERGY AND THE COMPANY
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 4.01

	 	Organization, Standing and Power
	 	 	19	 
	Section 4.02

	 	Authority; Execution and Delivery; Enforceability
	 	 	20	 
	Section 4.03

	 	No Conflicts; Consents
	 	 	20	 
	Section 4.04

	 	The Shares
	 	 	20	 
	Section 4.05

	 	Capital Stock of the Company
	 	 	21	 
	Section 4.06

	 	Equity Interests
	 	 	21	 
	Section 4.07

	 	Financial Statements
	 	 	21	 
	Section 4.08

	 	Events Subsequent to the Reference Balance Sheet
	 	 	21	 
	Section 4.09

	 	No Undisclosed Liabilities
	 	 	23	 
	Section 4.10

	 	Title to Assets
	 	 	23	 
	Section 4.11

	 	Leased Real Property
	 	 	24	 
	Section 4.12

	 	Business Intellectual Property and Third-Party Intellectual Property
	 	 	24	 
	Section 4.13

	 	Contracts
	 	 	26	 
	Section 4.14

	 	Receivables
	 	 	28	 
	Section 4.15

	 	Permits
	 	 	28	 
	Section 4.16

	 	Sufficiency of Assets
	 	 	28	 
	Section 4.17

	 	Taxes
	 	 	28	 
	Section 4.18

	 	Proceedings
	 	 	30	 
	Section 4.19

	 	Benefit Plans
	 	 	30	 

 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 4.20

	 	Compliance with Applicable Laws
	 	 	31	 
	Section 4.21

	 	Employee and Labor Matters
	 	 	31	 
	Section 4.22

	 	Accounts; Safe Deposit Boxes; Powers of Attorney; Officers and Directors
	 	 	32	 
	Section 4.23

	 	Customers and Suppliers
	 	 	32	 
	Section 4.24

	 	Related Party Transactions
	 	 	32	 
	Section 4.25

	 	Brokers or Finders
	 	 	33	 
	 
	 	 	 	 	 	 
	ARTICLE V

REPRESENTATIONS AND WARRANTIES OF PURCHASER
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 5.01

	 	Organization, Standing and Power
	 	 	33	 
	Section 5.02

	 	Authority; Execution and Delivery; and Enforceability
	 	 	33	 
	Section 5.03

	 	No Conflicts; Consents
	 	 	33	 
	Section 5.04

	 	Securities Act
	 	 	34	 
	Section 5.05

	 	Availability of Funds
	 	 	34	 
	Section 5.06

	 	Access to Information
	 	 	34	 
	Section 5.07

	 	Brokers or Finders
	 	 	35	 
	 
	 	 	 	 	 	 
	ARTICLE VI

COVENANTS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 6.01

	 	Covenants Relating to Conduct of Business
	 	 	35	 
	Section 6.02

	 	No Solicitation
	 	 	37	 
	Section 6.03

	 	Access to Information
	 	 	37	 
	Section 6.04

	 	Confidentiality; Publicity
	 	 	38	 
	Section 6.05

	 	Reasonable Best Efforts
	 	 	38	 
	Section 6.06

	 	Notification to Purchaser of Damage or Destruction of Assets or Material Changes
	 	 	40	 
	Section 6.07

	 	Notices of Certain Events
	 	 	40	 
	Section 6.08

	 	Expenses; Transfer Taxes
	 	 	41	 
	Section 6.09

	 	Employment and Employee Benefit Plans
	 	 	41	 
	Section 6.10

	 	Tax Matters
	 	 	42	 
	Section 6.11

	 	Agreement Not To Compete
	 	 	46	 
	Section 6.12

	 	Bulk Transfer Laws
	 	 	47	 
	Section 6.13

	 	Further Assurances
	 	 	47	 
	Section 6.14

	 	Transition Agreement
	 	 	47	 
	Section 6.15

	 	Support Services
	 	 	47	 
	Section 6.16

	 	Cooperation Agreement
	 	 	47	 
	Section 6.17

	 	Names Following Closing
	 	 	48	 
	Section 6.18

	 	Assignment of Michigan and Ohio Contracts
	 	 	48	 
	Section 6.19

	 	Alltech Subcontracts
	 	 	48	 
	Section 6.20

	 	Transfer of Service Mark
	 	 	48	 

-ii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	ARTICLE VII

CONDITIONS PRECEDENT
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 7.01

	 	Condition to Each Party’s Obligation
	 	 	49	 
	Section 7.02

	 	Conditions to Obligation of Purchaser
	 	 	49	 
	Section 7.03

	 	Conditions to Obligation of Seller and PB Energy
	 	 	49	 
	Section 7.04

	 	Frustration of Closing Conditions
	 	 	50	 
	 
	 	 	 	 	 	 
	ARTICLE VIII

TERMINATION, AMENDMENT AND WAIVER
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 8.01

	 	Termination
	 	 	50	 
	Section 8.02

	 	Effect of Termination
	 	 	51	 
	 
	 	 	 	 	 	 
	ARTICLE IX

INDEMNIFICATION
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 9.01

	 	Tax Indemnification
	 	 	51	 
	Section 9.02

	 	Other Indemnification by Seller
	 	 	52	 
	Section 9.03

	 	Other Indemnification by PB Energy
	 	 	53	 
	Section 9.04

	 	Other Indemnification by Purchaser
	 	 	53	 
	Section 9.05

	 	Calculation of Losses
	 	 	54	 
	Section 9.06

	 	Termination of Indemnification
	 	 	54	 
	Section 9.07

	 	Limitation of Liability
	 	 	54	 
	Section 9.08

	 	Procedures for Third-Party Claims
	 	 	56	 
	Section 9.09

	 	Procedures for Other Claims
	 	 	57	 
	Section 9.10

	 	Mitigation
	 	 	57	 
	Section 9.11

	 	Survival of Representations, Warranties and Covenants
	 	 	57	 
	Section 9.12

	 	No Additional Representations
	 	 	58	 
	 
	 	 	 	 	 	 
	ARTICLE X

GENERAL PROVISIONS
	 	 	 	 
	 
	 	 	 	 	 	 
	Section 10.01

	 	Assignment
	 	 	58	 
	Section 10.02

	 	No Third-Party Beneficiaries
	 	 	58	 
	Section 10.03

	 	Attorney Fees
	 	 	58	 
	Section 10.04

	 	Notices
	 	 	58	 
	Section 10.05

	 	Interpretation; Exhibits and Schedules
	 	 	59	 
	Section 10.06

	 	Knowledge
	 	 	60	 
	Section 10.07

	 	Counterparts
	 	 	60	 
	Section 10.08

	 	Entire Agreement
	 	 	60	 
	Section 10.09

	 	Amendments and Waivers
	 	 	60	 
	Section 10.10

	 	Severability
	 	 	61	 
	Section 10.11

	 	Governing Law
	 	 	61	 

-iii-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 10.12

	 	Dispute Resolution
	 	 	61	 
	Section 10.13

	 	Purchaser Parent Guarantee
	 	 	62	 
	Section 10.14

	 	PB Energy’s Representative
	 	 	62	 
	Section 10.15

	 	Waiver of Right of First Refusal
	 	 	63	 

-iv-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 
	EXHIBITS
	 	 	 	 
	 
	 	 	 	 
	Exhibit A

	 	Form of Escrow Agreement
	 	 
	Exhibit B

	 	Form of KESOP Waiver	 	 
	Exhibit C

	 	Form of Transferred Employee Waiver	 	 
	Exhibit D

	 	Transition Agreement Term Sheet	 	 
	Exhibit E

	 	Cooperation Agreement Term Sheet	 	 
	 
	 	 	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	Schedule 2.02(a)(iv)

	 	Purchased Equipment	 	 
	Schedule 2.02(a)(v)

	 	Purchased Business Intellectual Property	 	 
	Schedule 2.02(b)(viii)

	 	Excluded Assets	 	 
	Schedule 2.02(d)(iii)

	 	Excluded Liabilities	 	 
	Schedule 3.03

	 	Accounting Principles	 	 
	Schedule 4.03

	 	Seller Consents	 	 
	Schedule 4.06

	 	Equity Interests	 	 
	Schedule 4.07

	 	Financial Statements	 	 
	Schedule 4.08

	 	Subsequent Events	 	 
	Schedule 4.09

	 	Undisclosed Liabilities	 	 
	Schedule 4.10

	 	Title to Assets	 	 
	Schedule 4.11

	 	Leased Real Property	 	 
	Schedule 4.12(a)

	 	Business Intellectual Property	 	 
	Schedule 4.12(b)

	 	Licenses	 	 
	Schedule 4.12(c)

	 	Third-Party Intellectual Property	 	 
	Schedule 4.12(c)(v)

	 	Licenses of Third-Party Intellectual Property	 	 
	Schedule 4.12(e)

	 	Intellectual Property Claims	 	 
	Schedule 4.12(f)

	 	Software	 	 
	Schedule 4.13(a)

	 	Business Contracts	 	 
	Schedule 4.13(b)

	 	Business Contracts; Exceptions	 	 
	Schedule 4.15

	 	Permits	 	 
	Schedule 4.16

	 	Sufficiency of Assets	 	 
	Schedule 4.17

	 	Taxes	 	 
	Schedule 4.18

	 	Proceedings	 	 
	Schedule 4.20

	 	Compliance with Applicable Laws	 	 
	Schedule 4.21(a)

	 	Business Employees	 	 
	Schedule 4.21(b)

	 	Labor Matters	 	 
	Schedule 4.22

	 	Accounts; Safe Deposit Boxes; Powers of Attorney; Officers
and Directors	 	 
	Schedule 4.23

	 	Customers and Suppliers	 	 
	Schedule 4.24

	 	Related Party Transactions	 	 
	Schedule 6.01

	 	Conduct of Business	 	 

-v-

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 
	Schedule 6.05(e)

	 	Material ITS Contracts
	 	 
	Schedule 6.09

	 	Excluded Employees	 	 
	Schedule 6.10(d)

	 	Purchase Price Allocation	 	 
	Schedule 6.11(b)

	 	Permitted Goods and Services	 	 
	Schedule 6.18(a)

	 	Michigan Contracts	 	 
	Schedule 6.18(b)

	 	Ohio Contracts	 	 
	Schedule 6.19

	 	Alltech Subcontracts	 	 
	Schedule 10.06(a)

	 	Knowledge of Seller, PB Energy and Company	 	 
	Schedule 10.06(b)

	 	Knowledge of Purchaser	 	 

-vi-

 

STOCK AND ASSET PURCHASE AGREEMENT

     This STOCK AND ASSET PURCHASE AGREEMENT (this “Agreement”) is dated as of May 18,
2006, by and among PARSONS BRINCKERHOFF QUADE & DOUGLAS, INC., a New York corporation
(“Seller”), PB FARRADYNE, INC., a Maryland corporation (the “Company”), PB ENERGY
STORAGE SERVICES, INC., a Texas corporation (“PB Energy”), and TELVENT TRAFFIC NORTH
AMERICA INC., a Texas corporation (“Purchaser”) (each of Seller, PB Energy, the Company and
Purchaser and, solely for purposes of Article X of this Agreement, Telvent GIT, S.A., is
hereinafter referred to individually as a “Party” and collectively as the
“Parties”).

WITNESSETH:

     WHEREAS, Seller, directly and indirectly through the Company, is engaged in the business of
planning, developing, deploying, integrating, marketing and designing intelligent transportation
systems (“ITS”), including, without limitation, providing software development, hardware
development and systems integration and related ancillary services, which ancillary services
include data collection and support services, in connection with ITS, and PB Energy, an Affiliate
of Seller, through PB Energy’s division, Alltech (“Alltech”), is engaged in staffing and
management of traffic management centers related to the foregoing, in each case at various
locations in the United States and Canada (all of the foregoing being referred to in this Agreement
as the “Business”);

     WHEREAS, Seller owns all the issued and outstanding shares of Common Stock, $1.00 par value
per share (the “Shares”), of the Company;

     WHEREAS, Seller wishes to sell, assign and transfer to Purchaser, and Purchaser wishes to
purchase from Seller, the Shares for the consideration and upon the other terms and subject to the
conditions set forth herein;

     WHEREAS, simultaneous with and subject to the sale, assignment and transfer of the Shares to
Purchaser, the Company wishes to purchase all right, title and interest of Seller and PB Energy in
and to certain property and assets of the Business not conducted by and through the Company, and in
connection therewith, to assume certain liabilities of the Business, all upon the terms and subject
to the conditions set forth herein;

     NOW, THEREFORE, in consideration of the promises and the mutual agreements hereinafter set
forth, Seller, PB Energy, the Company and Purchaser hereby agree as follows:

ARTICLE I

Definitions

     Section 1.01 Definitions. As used in this Agreement, the following terms shall have
the following meanings, and such meanings shall apply equally to both the singular and plural forms
of the terms defined and to the correlative forms of such terms:

     “AAA” shall have the meaning set forth in Section 10.12(b) of this Agreement.

 

 

     “Accounting Firm” shall have the meaning set forth in Section 3.03(c) of this
Agreement.

     “Accounting Principles” shall have the meaning set forth in Section 3.03(g).

     “Affiliate” means, with respect to any Person, any other Person that, directly or
indirectly, controls, is controlled by, or is under common control with, such Person. For purposes
of this definition, the term “control,” as applied to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management of that Person, whether
through ownership of voting securities or otherwise.

     “Agreement” shall have the meaning set forth in the preface to this Agreement.

     “Alltech” shall have the meaning set forth in the recitals to this Agreement.

     “Ancillary Agreements” means the Cooperation Agreement, the Escrow Agreement, the
Transition Agreement, the Five Penn Plaza Sublease, the Long Island City Assignment and Assumption
Agreement, the Rockville Assignment and Assumption Agreement, the West Palm Beach Assignment and
Assumption Agreement, the KESOP Waiver, the Transferred Employees Waiver and the other agreements
and instruments to be executed and delivered in connection with this Agreement.

     “Assumed Liabilities” shall have the meaning set forth in Section 2.02(c) of this
Agreement.

     “Borrowed Funds” means (a) debt to commercial banks or other obligations for borrowed
money evidenced by notes or similar instruments, including amounts due to Seller or any Affiliate
of Seller, and (b) amounts drawn pursuant to a corresponding letter of credit or guarantee.

     “Business” shall have the meaning set forth in the recitals to this Agreement.

     “Business Contracts” shall have the meaning set forth in Section 4.13(a).

     “Business Day” means any day that is not a Saturday, Sunday or other day on which
banks are required or authorized by Law to be closed in the cities of New York, New York, United
States or Madrid, Spain.

     “Business Employee Plans” shall have the meaning set forth in Section 4.19 of this
Agreement.

     “Business Employees” mean all employees of Seller whose primary duties of employment
are in relation to the Business, all employees of the Company, and all employees of PB Energy whose
primary duties of employment are in relation to the Business.

     “Business Intellectual Property” means all Intellectual Property owned by Seller, PB
Energy or the Company and, in the case of such Intellectual Property owned by Seller and PB Energy,
that which is used, held for use or intended to be used primarily in the operation or

-2-

 

conduct of the Business, and includes all physical and/or digital embodiments of Intellectual
Property, including but not limited to Software.

     “Business Material Adverse Effect” means any circumstance of, change in or effect on
the Business that, individually or in the aggregate, has a material adverse effect on (a) the
business, results of operations, financial condition or assets of the Business or (b) the ability
of Seller, PB Energy or the Company to consummate the transactions contemplated by this Agreement;
provided, however, that “Business Material Adverse Effect” shall exclude any effect
arising out of or resulting from (i) general economic, regulatory or political conditions or
events, (ii) changes affecting the industry in which the Business operates, (iii) the execution of
this Agreement or any of the Ancillary Agreements (including the announcement of the transactions
contemplated by this Agreement or the identity of Purchaser or Purchaser Parent) or (iv) any action
taken by Seller, PB Energy or the Company or any of their respective representatives or other
action required by the terms of this Agreement or necessary to consummate the transactions
contemplated by this Agreement.

     “Chairman” shall have the meaning set forth in Section 10.12(b) of this Agreement.

     “Closing” shall have the meaning set forth in Section 3.01 of this Agreement.

     “Closing Date” shall have the meaning set forth in Section 3.01 of this Agreement.

     “Closing Date Amount” means the Purchase Price less the Escrow Amount.

     “Closing Net Assets” shall have the meaning set forth in Section 3.03(a) of this
Agreement.

     “COBRA” shall have the meaning set forth in Section 6.09(e) of this Agreement.

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

     “Company” shall have the meaning set forth in the preface to this Agreement.

     “Company Names” shall have the meaning set forth in Section 6.17(c) of this Agreement.

     “Confidentiality Agreement” shall have the meaning set forth in Section 6.04(a) of
this Agreement.

     “Consent” means any consent, approval, authorization, clearance, exception, waiver or
similar affirmation by any Person pursuant to any Contract, Law, Order or Permit.

     “Contracts” means contracts, leases, subleases, licenses, indentures, agreements,
commitments, purchase orders, sales orders and all other legally binding arrangements.

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     “Cooperation Agreement” shall have the meaning set forth in Section 6.16 of this
Agreement.

     “Defendant” shall have the meaning set forth in Section 9.02(d) of this Agreement.

     “Designated Amount” means U.S.$300,000.

     “Disclaimer” shall have the meaning set forth in Section 6.17(b) of this Agreement.

     “Dispute” shall have the meaning set forth in Section 10.12 of this Agreement.

     “Environmental Laws” shall have the meaning set forth in Section 4.20(b) of this
Agreement.

     “ERISA” shall have the meaning set forth in Section 4.19(a) of this Agreement.

     “ERISA Affiliate” shall have the meaning set forth in Section 4.19(b).

     “Escrow Agent” means an escrow agent mutually agreed by the Parties prior to Closing.

     “Escrow Agreement” means the Escrow Agreement to be entered into on the Closing Date
among the Escrow Agent, Seller, PB Energy, the Company and Purchaser, substantially in the form of
Exhibit A hereto, with respect to the Indemnity Escrow.

     “Escrow Amount” means U.S. $4,999,999.

     “Excluded Assets” shall have the meaning set forth in Section 2.02(b) of this
Agreement.

     “Excluded Employees” shall have the meaning set forth in Section 6.09(a) of this
Agreement.

     “Excluded Liabilities” shall have the meaning set forth in Section 2.02(d) of this
Agreement.

     “Expiration Date” shall have the meaning set forth in Section 9.07(c) of this
Agreement.

     “Farradyne Division” means the Farradyne Division of Seller, consisting of the
unincorporated division of Seller known as “the Farradyne division” and the Company, which is
engaged in the business of planning, developing, deploying, integrating, marketing and designing
ITS, including, without limitation, providing software development, hardware development and
systems integration and related ancillary services, which ancillary services include data
collection and support services, in connection with ITS.

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     “Financial Statements” shall have the meaning set forth in Section 4.07 of this
Agreement.

     “Five Penn Plaza Landlord” means the landlord under the Real Property Lease relating
to the Leased Real Property located at Five Penn Plaza, New York, New York.

     “Five Penn Plaza Sublease” means the sublease agreement relating to the sublease of
the Leased Real Property located at Five Penn Plaza, New York, New York, among Seller, Purchaser,
the Five Penn Plaza Landlord and, if required or reasonably necessary to obtain the consent of the
Five Penn Plaza Landlord, Purchaser Parent, in form and substance reasonably satisfactory to the
Parties, incorporating such terms as are required by the Five Penn Plaza Landlord.

     “Governmental Entity” means any federal, state, local, domestic, foreign or
supranational governmental or any court of competent jurisdiction, regulatory or administrative
agency or commission or other governmental authority, whether federal, state, local, domestic or
foreign.

     “Indemnified Party” shall have the meaning set forth in Section 9.08(a) of this
Agreement.

     “Indemnity Escrow” means the escrow arrangement set forth in the Escrow Agreement.

     “Intellectual Property” means all (a) patents (including all reissues, divisions,
continuations and extensions thereof), patent applications, patent rights, designs, design
registrations or design applications, and business methods, (b) registered and unregistered
copyrights, copyright registrations or copyright applications in both published works and
unpublished works, (c) registered and common-law trademarks or service marks, trademark or service
mark registrations, trademark or service mark applications, trade names, business names or brand
names, (d) all know-how, trade secrets, moral rights, rights of publicity, author’s rights,
licensing rights, customer lists, technical information, data, process technology, plans, drawings,
blueprints, proprietary inventions, formulae, processes, procedures, research records, records of
inventions, test information, market surveys and the content of all websites primarily related to
the Business and corresponding domain names, except to the extent such domain names contain the
Names and (e) all Software, regardless of whether such rights arise under the laws of the United
States or any state, county or other jurisdiction.

     “ITS” shall have the meaning set forth in the recitals to this Agreement.

     “ITS Contracts” shall have the meaning set forth in Section 6.05(e) of this Agreement.

     “KESOP” means the Parsons Brinckerhoff Key Employee Stock Ownership Plan.

     “KESOP Waiver” shall have the meaning set forth in Section 3.02(a)(xxii) of this
Agreement.

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     “Law” means any code, directive, law, ordinance, regulation, reporting or licensing
requirement, rule or statute applicable to a Person or its assets or business, including those
promulgated, interpreted or enforced by any Governmental Entity.

     “Leased Real Property” shall have the meaning set forth in Section 4.11 of this
Agreement.

     “Liens” means mortgages, liens, security interests, charges, easements, leases,
subleases, covenants, rights of way, options, claims, restrictions or encumbrances of any kind.

     “Long Island City Assignment and Assumption Agreement” means the assignment and
assumption agreement relating to the assignment to Purchaser of the Leased Real Property located at
24-16 Queens Plaza South, Long Island City, New York (Suite 404), among Seller, Purchaser, the Long
Island City Landlord and, if required or reasonably necessary to obtain the consent of the Long
Island City Landlord, Purchaser Parent, in form and substance reasonably satisfactory to the
Parties, incorporating such terms as are required by the Long Island City Landlord.

     “Long Island City Landlord” means the landlord under the Real Property Lease relating
to the Leased Real Property located at 24-16 Queens Plaza South, Long Island City, New York (Suite
404).

     “Losses” shall have the meaning set forth in Section 9.02 of this Agreement.

     “Material ITS Contracts” shall have the meaning set forth in Section 6.05(e) of this
Agreement.

     “Names” shall have the meaning set forth in Section 6.17(b).

     “Net Assets” shall have the meaning set forth in Section 3.03(g) of this Agreement.

     “Notice of Disagreement” shall have the meaning set forth in Section 3.03(b) of this
Agreement.

     “Order” means any decree, injunction, judgment, order, ruling, writ, quasi-judicial
decision or award or administrative decision or award of any Governmental Authority to which any
Person is a party or that is or may be binding on any Person or its assets or business.

     “Ordinary Course of Business” means Seller’s, PB Energy’s or the Company’s ordinary
course of business, as the case may be, consistent with past custom and practice.

     “Other Bid” shall have the meaning set forth in Section 6.02 of this Agreement.

     “Party” or “Parties” shall have the meaning set forth in the preface to this
Agreement.

     “PB Energy” shall have the meaning set forth in the recitals to this Agreement.

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     “Permits” means certificates, licenses, permits, authorizations, consents, variances
and approvals issued by, obtained or required to be obtained from any Governmental Entity (other
than in its capacity as a customer under an ITS Contract).

     “Permitted Goods and Services” shall have the meaning set forth in Section 6.11(b) of
this Agreement.

     “Permitted Liens” shall have the meaning set forth in Section 4.10(a) of this
Agreement.

     “Person” means any individual, firm, corporation, partnership, limited liability
company, trust, joint venture, Governmental Entity or other entity.

     “Pre-Closing Tax Period” means all taxable periods (or portions thereof) ending on or
before the Closing Date.

     “Proceeding” means any suit (whether civil, criminal, administrative, investigative or
informal), action, arbitration, audit, proceeding, hearing, investigation, litigation, charge or
complaint commenced, brought, conducted or heard by or before any Governmental Entity or before any
arbitrator.

     “Purchase Price” shall have the meaning set forth in Section 2.03(a) of this
Agreement.

     “Purchased Assets” shall have the meaning set forth in Section 2.02(a) of this
Agreement.

     “Purchased Permits” shall have the meaning set forth in Section 2.02(a)(vii) of this
Agreement.

     “Purchased Receivables” shall have the meaning set forth in Section 2.02(a)(ii) of
this Agreement.

     “Purchaser” shall have the meaning set forth in the preface to this Agreement.

     “Purchaser Indemnitees” shall have the meaning set forth in Section 9.01(a) of this
Agreement.

     “Purchaser Material Adverse Effect” shall have the meaning set forth in Section 5.01
of this Agreement.

     “Purchaser Parent” means Telvent GIT, S.A., a sociedad anónima organized under the
laws of Spain.

     “Real Property Leases” shall have the meaning set forth in Section 4.11 of this
Agreement.

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     “Reference Balance Sheet” shall have the meaning set forth in Section 4.07 of this
Agreement.

     “Reference Net Assets” means U.S.$15,187,037, representing the excess of (i) the sum
of (A) the Purchased Assets of Seller, (B) the assets and properties of the Company and (C) the
Purchased Assets of PB Energy, over (ii) the sum of (A) the Assumed Liabilities of Seller, (B) the
assumed liabilities of the Company and (C) the Assumed Liabilities of PB Energy, in each of the
foregoing cases as of the date of and as shown on the Reference Balance Sheet, as reflected on the
Reference Balance Sheet and as calculated in accordance with the Accounting Principles.

     “Required Consents” shall have the meaning set forth in Section 6.05(b).

     “Restricted Activities” shall have the meaning set forth in Section 6.11(a)(i) of this
Agreement.

     “Rockville Assignment and Assumption Agreement” means the assignment and assumption
agreement relating to the assignment to Purchaser of the Leased Real Property located at 3206 Tower
Oaks Boulevard, Rockville, Maryland, among Seller, Purchaser, the Rockville Landlord and, if
required or reasonably necessary to obtain the consent of the Rockville Landlord, Purchaser Parent,
in form and substance reasonably satisfactory to the Parties, incorporating such terms as are
required by the Rockville Landlord.

     “Rockville Landlord” means the landlord under the Real Property Lease relating to the
Leased Real Property located at 3206 Tower Oaks Boulevard, Rockville, Maryland.

     “Section 338 Forms” shall have the meaning set forth in Section 6.10(c)(i).

     “Section 338(h)(10) Elections” shall have the meaning set forth in Section 6.10(c)(i).

     “Seller” shall have the meaning set forth in the preface to this Agreement.

     “Seller Indemnitees” shall have the meaning set forth in Section 9.01(c) of this
Agreement.

     “Shares” shall have the meaning set forth in the recitals to this Agreement.

     “Software” means all computer software programs, interfaces, tools, utilities, and all
source codes (including annotations), object codes, listings and flow charts and all databases,
database layouts and data collections and all rights therein.

     “Statement” shall have the meaning set forth in Section 3.03(a) of this Agreement.

     “Straddle Period” shall have the meaning set forth in Section 9.01(d) of this
Agreement.

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     “Support Services” shall have the meaning set forth in Section 6.15 of this Agreement.

     “Tax” and “Taxes” shall have the meaning set forth in Section 4.17(l) of this
Agreement.

     “Tax Return” and “Taxes Returns” shall have the meaning set forth in Section
4.17(i) of this Agreement.

     “Tax Claim” shall have the meaning set forth in Section 9.01(e) of this Agreement.

     “Taxing Authority” means any Governmental Entity exercising Tax regulatory authority.

     “Third-Party Claim” shall have the meaning set forth in Section 9.08(a) of this
Agreement.

     “Third-Party Intellectual Property” means any Intellectual Property owned by a third
party and licensed to the Company, PB Energy or Seller and, in the case of such Intellectual
Property licensed to Seller or PB Energy, that which is used, held for use or intended to be used
primarily in the operation or conduct of the Business.

     “Transferred Employee” means a Business Employee who becomes an employee of Purchaser
or an Affiliate of Purchaser on or after the Closing Date by accepting an offer of employment made
pursuant to Section 6.09 of this Agreement, and shall also include a Business Employee who
continues in employment with the Company after the Closing Date.

     “Transferred Employee Waiver” shall have the meaning set forth in Section
3.02(a)(xxiii) of this Agreement.

     “Transition Agreement” shall have the meaning set forth in Section 6.14 of this
Agreement.

     “West Palm Beach Assignment and Assumption Agreement” means the assignment and
assumption agreement relating to the assignment to Purchaser of the Leased Real Property located at
2200 Centre Park W. Drive, West Palm Beach, Florida, among Seller, Purchaser, the West Palm Beach
Landlord and, if required or reasonably necessary to obtain the consent of the West Palm Beach
Landlord, Purchaser Parent, in form and substance reasonably satisfactory to the Parties,
incorporating such terms as are required by the West Palm Beach Landlord.

     “West Palm Beach Landlord” means the landlord under the Real Property Lease relating
to the Leased Real Property located at 2200 Centre Park W. Drive, West Palm Beach, Florida.

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ARTICLE II

Purchase and Sale 

     Section 2.01 Purchase and Sale of the Shares. Upon the terms and subject to the
conditions of this Agreement, at the Closing, Seller shall sell, assign, transfer and deliver to
Purchaser, and Purchaser shall purchase from Seller, the Shares, which represent one hundred
percent (100%) of the issued and outstanding shares of the Company.

     Section 2.02 Purchase and Sale of Assets; Assumption of Liabilities.

     (a) Purchase and Sale of Assets. Upon the terms and subject to the conditions of this
Agreement, at the Closing and immediately after the actions contemplated in Section 2.01 shall have
been consummated, Seller and PB Energy shall sell, assign, transfer, convey and deliver or cause to
be sold, assigned, transferred, conveyed and delivered to the Company, and the Company shall
purchase from Seller and PB Energy, all of Seller’s and PB Energy’s right, title and interest in
and to the assets and rights owned, used or held for use primarily in the conduct of the Business,
and the goodwill of the Business, as the same shall exist on the Closing Date, other than the
Excluded Assets (collectively, the “Purchased Assets”), including, without limitation, the
following:

     (i) the Business Contracts;

     (ii) all accounts receivable of Seller and PB Energy arising primarily out of
the operation or conduct of the Business (the “Purchased Receivables”);

     (iii) all work-in-process on any Business Contract;

     (iv) the machinery, equipment and tangible personal property used or held for
use primarily in the operation or conduct of the Business by Seller and PB Energy
(whether as owner, lessor, lessee or otherwise), including the machinery, equipment
and tangible personal property set forth on Schedule 2.02(a)(iv);

     (v) all of the Business Intellectual Property, including the Business
Intellectual Property set forth on Schedule 2.02(a)(v), except domain names
using the Names;

     (vi) to the extent assignable, the Third-Party Intellectual Property;

     (vii) to the extent assignable in accordance with applicable Law, all Permits
that are used, held for use or intended to be used primarily in the Business by
Seller and PB Energy, including those Permits set forth on Schedule 4.15 (the
“Purchased Permits”);

     (viii) all credits, prepaid expenses, deferred charges, advance payments,
security deposits and prepaid items relating to the assets listed in clauses (i)
through (vii) above;

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     (ix) all books of account, general, financial and accounting records, files,
invoices, customer and supplier lists, other distribution lists, billing records,
customer and supplier correspondence, sales, marketing and promotional literature
and other sales-related materials and any rights thereto owned by Seller or PB
Energy and used or held for use exclusively in the operation or conduct of the
Business, except to the extent relating to the Excluded Assets or the Excluded
Liabilities;

     (x) all rights in respect of the Leased Real Property;

     (xi) all goodwill generated by or associated with the Business; and

     (xii) all rights, claims and causes of action to the extent relating to any
other Purchased Asset or any Assumed Liability, other than any such items arising
under insurance policies.

     (b) Excluded Assets. The Purchased Assets shall exclude all properties, assets and
rights of Seller or PB Energy of any kind or nature, real or personal, tangible or intangible, not
primarily related to the Business or not expressly set forth in Section 2.02(a), including the
following (collectively, the “Excluded Assets”):

     (i) all cash and cash equivalents;

     (ii) all rights to any bank accounts;

     (iii) all Intellectual Property other than the Business Intellectual
Property and the assignable Third-Party Intellectual Property;

     (iv) all current and prior insurance policies of Seller and PB Energy and all
rights of any nature with respect thereto, including all insurance recoveries
thereunder, all rights to assert claims with respect to any such insurance
recoveries and all rights to any refund of premiums;

     (v) all Tax Returns and all refunds, rebates or similar payments of Taxes;

     (vi) any records (including accounting records) related to Taxes paid or
payable by Seller or PB Energy and all financial and Tax records relating to the
Business that form part of Seller’s or PB Energy’s general ledger;

     (vii) except as set forth in Section 2.02(a)(ix), the books and records of
Seller and PB Energy;

     (viii) the assets, properties and rights set forth in Schedule
2.02(b)(viii);

     (ix) all rights of Seller and PB Energy under this Agreement and the Ancillary
Agreements;

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     (x) any assets relating to any employee benefit plan in which any employees of
Seller or PB Energy participate; and

     (xi) all rights, claims and causes of action of Seller or PB Energy relating to
any other Excluded Asset or any Excluded Liability.

     (c) Assumed Liabilities. Upon the terms and subject to the conditions of this
Agreement, at the Closing, the Company shall assume and agree to pay, perform and discharge when
due, the following liabilities, obligations and commitments of Seller and PB Energy in respect of
the Business (collectively, the “Assumed Liabilities”):

     (i) all accrued liabilities and obligations of the following categories
reflected on the Reference Balance Sheet: “accounts payable — trade”; “accrued
expenses — payroll related”; “adv. & billing in excess of cost”; and “est. loss on
uncompleted contracts”;

     (ii) all liabilities, obligations and commitments under Business Contracts;

     (iii) all liabilities, obligations and commitments under the Purchased
Permits to the extent such liabilities or obligations relate to the conduct of
the Business after the Closing; and

     (iv) all liabilities, obligations and commitments to the Transferred Employees
to the extent arising out of the operation of the Purchased Assets and the Business
by the Company or Purchaser after the Closing Date.

     (d) Excluded Liabilities. Except as specifically described in Section 2.02(c), the
Company shall not assume any other liabilities, obligations and commitments of Seller, PB Energy or
their Affiliates, or any Business Employee Plans (collectively, the “Excluded
Liabilities”). For greater certainty, the following liabilities shall be included, without
limitation, in the definition of Excluded Liabilities:

     (i) any liability or obligation of Seller, PB Energy or the Company for foreign
or United States federal, state, or local Taxes arising as a result of the
activities of the Business prior to the Closing Date;

     (ii) except for liabilities described in Section 2.02(c)(i), any employee
liabilities relating to the employment of present and past Business Employees on and
before the Closing Date, including liabilities with respect to Business Employee
Plans and other benefit entitlements established or existing on or prior to Closing
(whether or not such liabilities are accrued or payable at Closing, and whether or
not such liabilities are contingent in nature), and including without limitation the
following:

     (1) any liability or obligation for workers’ compensation;

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     (2) any current or future liabilities to Business Employees retiring
on, before, or after Closing, and their dependents;

     (3) any current or future liabilities for benefits of any Business
Employees under any pension plans or any contributions to or other funding
liabilities of pension plans;

     (4) any current or future liabilities for claims incurred on and prior
to Closing and related expenses with respect to Business Employees under any
welfare or disability plans established or existing at or prior to Closing,
regardless of when filed with Purchaser, Seller, PB Energy or the claims
administrator for any such plan;

     (5) any retrospective premium on pension, savings, thrift, or
profit-sharing plan contribution relating to any Business Employees incurred
or accrued on or prior to the Closing Date, regardless of when invoiced or
recorded; and

     (6) any monetary liability for severance payments that may arise at any
time in favor of any Business Employees under any Business Employee Plan, or
other benefit entitlement and relating to the employment of Business
Employees on or prior to the Closing Date; and

     (iii) any liabilities or obligations of Seller, PB Energy or the Company under
the surety bonds set forth on Schedule 2.02(d)(iii).

     Section 2.03 Purchase Price; Allocation of Purchase Price. (a) Subject to the
adjustment as provided in Section 3.03 and the other terms and conditions of this Agreement, (i)
the purchase price to be paid by Purchaser for the Shares shall be U.S.$6,463,870 and (ii) the
purchase price to be paid by the Company for the Purchased Assets shall be U.S.$31,536,130
(together, the “Purchase Price”). The purchase price to be paid by the Company for the
Purchased Assets shall be further allocated as provided in Section 6.10(d).

     (b) The sum of the Purchase Price and the Assumed Liabilities shall be allocated among the
Shares and the Purchased Assets as of the Closing Date in accordance with Section 6.10(d) and
Schedule 6.10(d).

ARTICLE III

Closing

     Section 3.01 Closing. The closing of the sale and purchase of the Shares and
Purchased Assets and the assumption of the Assumed Liabilities as contemplated by this Agreement
(the “Closing”) shall take place at the offices of McDermott Will & Emery LLP, 340 Madison
Avenue, New York, New York 10017, as soon as practicable after the satisfaction of all the
conditions set forth in Article VII have been satisfied (or, to the extent permitted, waived by the
Parties entitled to the benefits thereof), or at such other place, time and date as shall be agreed
among the Parties. The date on which the Closing occurs is referred to in this Agreement

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as the “Closing Date”. The Closing will be deemed to have occurred as of 11:59 p.m.
local time on the Closing Date. Unless expressly set forth herein, each of the transactions
contemplated below shall be deemed to have occurred simultaneously.

     Section 3.02 Closing Deliveries. At the Closing:

     (a) Seller and/or PB Energy shall deliver or cause to be delivered to Purchaser:

     (i) certificates representing the Shares, duly endorsed in blank or accompanied
by stock powers duly endorsed in blank in proper form for transfer, with appropriate
transfer Tax stamps, if any;

     (ii) bills of sale, assignments, and other instruments of transfer providing
for the sale, assignment and transfer of the Purchased Assets to the Company, duly
executed by Seller or PB Energy and/or their applicable Affiliates in form and
substance reasonably satisfactory to the Parties;

     (iii) a receipt for the Closing Date Amount;

     (iv) the Escrow Agreement, duly executed by Seller, PB Energy and the Company;

     (v) the Transition Agreement, duly executed by Seller;

     (vi) the Cooperation Agreement, duly executed by Seller and PB Energy;

     (vii) a true and complete copy, certified by Seller’s secretary or an assistant
secretary of Seller, of resolutions duly and validly adopted by the Board of
Directors of Seller evidencing its authorization of the execution and delivery of
this Agreement and the Ancillary Agreements and the consummation of the transactions
contemplated hereby and thereby;

     (viii) a true and complete copy, certified by the Company’s secretary or an
assistant secretary of the Company, of resolutions duly and validly adopted by the
Board of Directors of the Company evidencing its authorization of the execution and
delivery of this Agreement and the Ancillary Agreements and the consummation of the
transactions contemplated hereby and thereby;

     (ix) a true and complete copy, certified by PB Energy’s secretary or an
assistant secretary of PB Energy, of resolutions duly and validly adopted by the
Board of Directors of PB Energy evidencing its authorization of the execution and
delivery of this Agreement and the Ancillary Agreements and the consummation of the
transactions contemplated hereby and thereby;

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     (x) true, complete, and certified copies of the constitutional documents of the
Company, certified by the Company’s secretary or other officer or authorized
representative;

     (xi) a certificate of the Secretary of State of the State of New York, dated
not earlier than five (5) Business Days prior to the Closing, stating that Seller is
in good standing under the laws of the State of New York;

     (xii) a certificate of the Secretary of State of the State of Maryland, dated
not earlier than five (5) Business Days prior to the Closing, stating that the
Company is in good standing under the laws of the State of Maryland and certificates
from the Secretaries of State of each jurisdiction in which the Company engages in
the Business and is required to be qualified in order to conduct business certifying
that the Company is duly qualified to conduct business in and is in good standing
under the laws of such jurisdiction;

     (xiii) a certificate of the Secretary of State of the State of Texas, dated not
earlier than five (5) Business Days prior to the Closing, stating that PB Energy is
in good standing under the laws of the State of Texas;

     (xiv) the resignations, effective as of the Closing, of all of the directors
and officers of the Company, except for such persons as shall have been designated
in writing prior to the Closing by Purchaser to Seller;

     (xv) a spreadsheet reflecting the status of current customer projects which are
expected to produce U.S. $50,000 or more of revenue to the Business from the date of
this Agreement through the two (2) year anniversary of the date of this Agreement

     (xvi) the certificate required to be delivered by Seller pursuant to Section
7.02(b);

     (xvii) the certificate required to be delivered by PB Energy pursuant to
Section 7.02(b);

     (xviii) a legal opinion of McDermott Will & Emery LLP, in form and substance
reasonably satisfactory to the Parties;

     (xix) a legal opinion of Maryland counsel to the Company, in form and substance
reasonably satisfactory to the Parties;

     (xx) a legal opinion of Delaware counsel to the Seller and the Company, in form
and substance reasonably satisfactory to the Parties;

     (xxi) delivery of all books and records of the Company and all books and
records of the Business constituting Purchased Assets (which delivery may be made at
the Leased Real Property and other office locations of the Business);

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     (xxii) a letter in the form set forth in Exhibit B to this Agreement,
duly executed by Seller, and Parsons Brinkerhoff, Inc. (the “KESOP Waiver”);

     (xxiii) a letter in the form set forth in Exhibit C to this Agreement,
duly executed by Seller and Parsons Brinckerhoff, Inc. (the “Transferred
Employee Waiver”);

     (xxiv) the Five Penn Plaza Sublease, duly executed by Seller and the Five Penn
Plaza Landlord;

     (xxv) the Long Island City Assignment and Assumption Agreement, duly executed
by Seller and the Long Island City Landlord;

     (xxvi) Rockville Assignment and Assumption Agreement, duly executed by Seller
and the Rockville Landlord; and

     (xxvii) the West Palm Beach Assignment and Assumption Agreement, duly executed
by Seller and the West Palm Beach Landlord.

     (b) Purchaser shall deliver or cause to be delivered to Seller or PB Energy:

     (i) (A) U.S. $5,613,361.03, representing the portion of the Purchase Price
allocable to the purchase of the Shares minus a pro rata portion of the Escrow
Amount and (B) on behalf of the Company, U.S. $27,386,639.97, representing the
portion of the Purchase Price allocable to the purchase of the Purchased Assets
minus a pro rata portion of the Escrow Amount, in each case in immediately available
funds, by wire transfers to a bank account designated in writing by Seller (such
designation to be made at least two (2) Business Days prior to the Closing Date);

     (ii) assumption agreements and other instruments of assumption providing for
the assumption of the Assumed Liabilities by the Company, duly executed by the
Company in form and substance reasonably satisfactory to the Parties;

     (iii) a true and complete copy, certified by Purchaser’s secretary or an
assistant secretary of Purchaser, of resolutions duly and validly adopted by the
Board of Directors of Purchaser evidencing its authorization of the execution and
delivery of this Agreement and the Ancillary Agreements and the consummation of the
transactions contemplated hereby and thereby;

     (iv) a certificate of the Secretary of State of the State of Texas, dated not
earlier than five (5) Business Days prior to the Closing, stating that Purchaser was
duly formed and is in good standing under the laws of the State of Texas;

     (v) the Escrow Agreement, duly executed by Purchaser;

     (vi) the Transition Agreement, duly executed by Purchaser;

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     (vii) the Cooperation Agreement, duly executed by Purchaser;

     (viii) the certificate required to be delivered pursuant to Section 7.03(b);

     (ix) a legal opinion of Squire, Sanders & Dempsey L.L.P., as Texas counsel to
Purchaser, in form and substance reasonably satisfactory to the Parties;

     (x) the Five Penn Plaza Sublease, duly executed by Purchaser and, if
applicable, Purchaser Parent;

     (xi) the Long Island City Assignment and Assumption Agreement, duly executed by
Purchaser and, if applicable, Purchaser Parent;

     (xii) the Rockville Assignment and Assumption Agreement, duly executed by
Purchaser and, if applicable, Purchaser Parent; and

     (xiii) the West Palm Beach Assignment and Assumption Agreement, duly executed
by Purchaser and, if applicable, Purchaser Parent.

     (c) At the Closing, Purchaser shall deliver to the Escrow Agent, in accordance with the Escrow
Agreement, the Escrow Amount by wire transfer in immediately available funds to the account
designated therefor in the Escrow Agreement.

     Section 3.03 Purchase Price Adjustment. (a) Within ninety (90) days after the
Closing Date, Seller shall deliver to Purchaser a statement (the “Statement”) setting forth
the Net Assets as of the close of business on the Closing Date (“Closing Net Assets”) and a
certificate of Seller that the Statement has been prepared in compliance with the requirements of
this Section 3.03. Purchaser shall provide reasonable assistance to Seller in the preparation of
the Statement, and Purchaser shall provide Seller access, at all reasonable times during normal
business hours and after notice, to the personnel, properties, books and records of the Company,
the Purchased Assets and the Business as may be required in order for Seller to prepare the
Statement. Purchaser’s independent accountants may participate in the preparation of the
Statement; provided, however, that Purchaser acknowledges that Seller shall have
the primary responsibility and authority for preparing the Statement and certifying the Statement.

     (b) During the sixty (60)-day period following Purchaser’s receipt of the Statement, Purchaser
and its independent accountants shall be permitted to review the working papers of Seller relating
to the Statement. The Statement shall become final and binding upon the Parties on the sixtieth
(60th) day following delivery thereof, unless Purchaser gives written notice of its disagreement
with the Statement (a “Notice of Disagreement”) to Seller prior to such date. Any Notice
of Disagreement shall (i) specify in reasonable detail the nature of any disagreement so asserted,
(ii) only include disagreements based on mathematical errors or based on Closing Net Assets not
being calculated in accordance with this Section 3.03. If a Notice of Disagreement is received by
Seller in a timely manner, then the Statement (as revised in accordance with this sentence) shall
become final and binding upon Seller and Purchaser on the earlier of (A) the date Seller and
Purchaser resolve in writing any differences they have with respect to the matters specified in the
Notice of Disagreement and (B) the date any disputed matters are finally resolved in writing by the
Accounting Firm.

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     (c) During the thirty (30)-day period following the delivery of a Notice of Disagreement,
Seller and Purchaser shall seek in good faith to resolve in writing any differences that they may
have with respect to the matters specified in the Notice of Disagreement. At the end of such
thirty (30)-day period, Seller and Purchaser shall submit to an independent accounting firm (the
“Accounting Firm”) for final, non-appealable and binding determination any and all matters
that remain in dispute and were properly included in the Notice of Disagreement. The Accounting
Firm shall be a mutually acceptable nationally recognized independent accounting firm agreed upon
by the Parties writing (other than Ernst & Young LLP, KPMG LLP or PricewaterhouseCoopers LLP).
Seller and Purchaser shall use reasonable efforts to cause the Accounting Firm to render a decision
resolving the matters submitted to the Accounting Firm within thirty (30) days after its receipt of
such submission. Judgment may be entered upon the determination of the Accounting Firm in any
court having jurisdiction over the Party against which such determination is to be enforced. The
cost of any determination (including the fees and expenses of the Accounting Firm and reasonable
attorney fees and expenses of the Parties) pursuant to this Section 3.03(c) shall be borne by
Seller and Purchaser in inverse proportion as they may prevail on matters resolved by the
Accounting Firm, which proportionate allocations shall also be determined by the Accounting Firm at
the time the determination of the Accounting Firm is rendered on the merits of the matters
submitted. The fees and disbursements of Seller’s independent accountants incurred in connection
with any certification of the Statement and review of any Notice of Disagreement shall be borne by
Seller, and the fees and disbursements of Purchaser’s independent accountants incurred in
connection with their review of the Statement and certification of any Notice of Disagreement shall
be borne by Purchaser. Both Parties shall cooperate and provide the Accounting Firm with access to
such records and with such information as the Accounting Firm may reasonably request. The Parties
agree that this process shall be the exclusive method to resolve such disagreement.

     (d) In the event that Closing Net Assets exceeds Reference Net Assets by at least the
Designated Amount, then the Purchase Price shall be increased by an amount equal to such excess
over the Designated Amount, and Purchaser shall, within ten (10) Business Days after the Statement
becomes final and binding on the Parties, make payment to Seller by wire transfer in immediately
available funds of the amount of such difference.

     (e) In the event that Reference Net Assets exceeds Closing Net Assets by at least the
Designated Amount, then the Purchase Price shall be decreased by an amount equal to such excess
over the Designated Amount and Seller shall, within ten (10) Business Days after the Statement
becomes final and binding on the Parties, make payment to Purchaser by wire transfer in immediately
available funds of the amount of such difference.

     (f) Any payments required to be made by Purchaser or Seller pursuant to Section 3.03(d) or
3.03(e) shall bear interest from the Closing Date to the date of payment at a rate equal to the
rate of interest from time to time announced publicly by Citibank, N.A., as its prime rate,
calculated on the basis of the actual number of days elapsed divided by 365.

     (g) The term “Net Assets” means the excess of (i) the sum of (A) the value of the
Purchased Assets of Seller, (B) the assets and properties of the Company and (C) the value of the
Purchased Assets of PB Energy over (ii) the sum of (A) the value of the Assumed Liabilities of
Seller, (B) the assumed liabilities of the Company and (C) the value of the Assumed

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Liabilities of PB Energy, in each case calculated in accordance with the accounting
principles set forth in Schedule 3.03 and, to the extent not set forth in Schedule
3.03, in accordance with the same accounting principles, practices, methodologies and policies
used by Seller in the preparation of the Reference Balance Sheet (the “Accounting
Principles”). The Parties agree that the adjustment contemplated by this Section 3.03 is
intended to show the change in Net Assets from the date of the Reference Balance Sheet to the
Closing Date, and that such change can only be measured if the calculation is done in the same way,
using the Accounting Principles at both dates. The scope of the disputes to be resolved by the
Accounting Firm shall be limited to (x) whether the calculation of Closing Net Assets was done in
accordance with the Accounting Principles set forth in Schedule 3.03 and, to the extent not
set forth in Schedule 3.03, in accordance with the Accounting Principles and (y) and
whether there were mathematical errors in the Statement. Seller and Purchaser agree that the
Accounting Firm is not to make any other determination.

     Section 3.04 Indemnity Escrow. Prior to the Closing, Seller, the Company and
Purchaser shall enter into the Escrow Agreement with the Escrow Agent. In accordance with the
terms of the Escrow Agreement, Purchaser shall deposit the Escrow Amount to be managed and paid out
by the Escrow Agent in accordance with the terms of the Escrow Agreement.

ARTICLE IV

Representations and Warranties of Seller, PB Energy and the Company

     Each of Seller, PB Energy and the Company hereby represents and warrants to Purchaser that all
of the statements contained in this Article IV are true and complete as of the date of this
Agreement (or, if made as of a specified date, as of such date), and will be true and complete as
of the Closing Date as though made on the Closing Date. The representations and warranties of
Seller shall be deemed to be made with respect to Seller, PB Energy and the Company. The
representations and warranties of PB Energy shall be several and shall be deemed to be made only
with respect to PB Energy. The representations and warranties of the Company shall be several and
shall be deemed to be made only with respect to the Company. Each matter disclosed pursuant to any
Schedules hereto shall be deemed to be disclosed with respect to any other section of this Article
IV to the extent it is disclosed in such a way as to make its relevance to such other section
reasonably apparent on its face.

     Section 4.01 Organization, Standing and Power. Each of Seller, PB Energy and the
Company is duly organized, validly existing and in good standing under the laws of the jurisdiction
in which it is organized and has full corporate power and authority to enable it to conduct the
Business as it is presently conducted. Each of Seller, PB Energy and the Company is duly qualified
and in good standing to do business as a foreign corporation in each jurisdiction where the nature
of the Business makes such qualification necessary for it to conduct the Business as it is
currently conducted. The Company is duly qualified and in good standing to do business as a
foreign corporation in the jurisdictions set forth in Schedule 4.15. Seller has delivered
to Purchaser true and complete copies of the articles of incorporation and by-laws, each as amended
to the date hereof, of the Company.

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     Section 4.02 Authority; Execution and Delivery; Enforceability. Each of Seller, PB
Energy and the Company has full power and authority to execute this Agreement and the Ancillary
Agreements to which it is, or is specified to be, a party and to consummate the transactions
contemplated hereby and thereby. The execution and delivery by Seller, PB Energy and the Company
of this Agreement and the Ancillary Agreements to which it is, or is specified to be, a party and
the consummation by Seller, PB Energy and the Company of the transactions contemplated hereby and
thereby have been duly authorized by all necessary corporate action. Each of Seller, PB Energy and
the Company has duly executed and delivered this Agreement and prior to the Closing will have duly
executed and delivered each Ancillary Agreement to which it is, or is specified to be, a party, and
this Agreement constitutes, and each Ancillary Agreement to which it is, or is specified to be, a
party will after the Closing constitute, its legal, valid and binding obligation, enforceable
against it in accordance with its terms (subject, as to enforcement, to applicable bankruptcy,
insolvency, moratorium, reorganization or similar Laws affecting creditors’ rights generally and to
general equitable principles).

     Section 4.03 No Conflicts; Consents. (a) Except as set forth on Schedule
4.03, the execution and delivery by Seller, PB Energy and the Company of this Agreement does
not, the execution and delivery by Seller, PB Energy and the Company of each Ancillary Agreement to
which it is, or is specified to be, a party will not, and the consummation of the transactions
contemplated hereby and thereby and compliance with the terms hereof and thereof will not, conflict
with, or result in any violation of or default (with or without notice or lapse of time, or both)
under, or give rise to a right of termination, cancellation or acceleration of any obligation or to
loss of a material benefit under, require notice and/or consent under, or result in the creation of
any Lien upon any of the properties or assets of Seller, PB Energy or the Company under, any
provision of (i) the certificate of incorporation or articles of incorporation or by-laws of
Seller, PB Energy or the Company, (ii) any Business Contract or (iii) any Order or Law applicable
to Seller, PB Energy or the Company or their respective properties or assets.

     (b) No Consent of, registration, declaration or filing with, or notice to any Governmental
Entity is required to be obtained or made by or with respect to Seller, PB Energy or the Company in
connection with the execution, delivery and performance of this Agreement or any Ancillary
Agreement or the consummation of the transactions contemplated hereby and thereby other than (i)
those that may be required solely by reason of Purchaser’s (as opposed to any other third party’s)
participation in the transactions contemplated hereby and by the Ancillary Agreements and (ii)
those that may be required under a Business Contract by a Governmental Entity in its capacity as a
customer under such Business Contract.

     Section 4.04 The Shares. Seller has good and marketable title to the Shares, free and
clear of all Liens. Assuming Purchaser has the requisite power and authority to be the lawful
owner of the Shares, upon delivery to Purchaser at the Closing of certificates representing the
Shares, duly endorsed by Seller for transfer to Purchaser, and upon Seller’s receipt of the Closing
Date Amount, good title to the Shares will pass to Purchaser, free and clear of any Liens, other
than those arising from acts of Purchaser or its Affiliates. Other than this Agreement, the Shares
are not subject to any voting trust agreement or other Contract, including any Contract restricting
or otherwise relating to the voting, dividend rights or disposition of the Shares.

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     Section 4.05 Capital Stock of the Company. (a) The authorized capital stock of the
Company consists of 5,500 shares of Common Stock, par value $1.00 per share, of which 5,306 shares,
constituting the Shares, are issued and outstanding. Except for the Shares, there are no shares of
capital stock or other equity securities of the Company issued, reserved for issuance or
outstanding. The Shares are duly authorized, validly issued, fully paid and nonassessable and not
subject to or issued in violation of any purchase option, call option, right of first refusal,
preemptive right, subscription right, warrant, purchase right, conversion right, exchange right or
any similar right under any provision of applicable Law, the articles of incorporation or by-laws
of the Company or any Contract to which the Company is a party or otherwise bound. There are no
outstanding warrants, options, rights, “phantom” stock rights, agreements, convertible or
exchangeable securities or other commitments (other than this Agreement) (a) pursuant to which
Seller or the Company is or may become obligated to issue, sell, purchase, return or redeem any
shares of capital stock or other securities of the Company or (b) that give any Person the right to
receive any benefits or rights similar to any rights enjoyed by or accruing to the holders of
shares of capital stock of the Company. There are no outstanding bonds, debentures, notes or other
indebtedness having the right to vote on any matters on which stockholders of the Company may vote.
There are no voting trusts, proxies or other agreements or understandings with respect to the
voting of the capital stock of the Company.

     Section 4.06 Equity Interests. Except as set forth on Schedule 4.06, the
Company does not own, directly or indirectly, any capital stock, membership interest, partnership
interest, joint venture interest or other equity interest in any Person.

     Section 4.07 Financial Statements. Schedule 4.07 contains the following
financial statements relating to the Farradyne Division and Alltech, representing the operations of
the Farradyne Division and Alltech on Seller’s management reporting basis: (i) balance sheet of
the Farradyne Division as of February 17, 2006; (ii) balance sheets of the Farradyne Division and
Alltech as of March 17, 2006 (together, the “Reference Balance Sheet”), and (iii) income
statements of the Farradyne Division for the fiscal years ended on October 28, 2005, October 29,
2004 and October 31, 2003, (collectively, the “Financial Statements”). The Financial
Statements present fairly and accurately in all material respects the financial condition and
results of operations of the Farradyne Division and Alltech as of the dates thereof or for the
periods covered thereby and are consistent with the books and records of Seller, PB Energy and the
Company. The Financial Statements have been prepared in accordance with the Accounting Principles
applied on a consistent basis throughout the respective periods covered thereby.

     Section 4.08 Events Subsequent to the Reference Balance Sheet. Since the date of the
Reference Balance Sheet, there has not been any change in the Business, financial condition,
operations or results of operations of the Business which has had a Business Material Adverse
Effect, and since the date of the Reference Balance Sheet, Seller, the Company and PB Energy have
operated the Business in the Ordinary Course of Business. Without limiting the generality of the
foregoing, and except as set forth on Schedule 4.08, since the date of the Reference
Balance Sheet, with respect to the Business:

     (a) there has not been any (i) change in the Company’s authorized or issued capital stock,
(ii) grant of any stock option or right to purchase shares of capital stock of the Company, (iii)
issuance of any security convertible into the capital stock of the Company, (iv)

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grant of any registration rights of the capital stock of the Company, or (v) purchase,
redemption, retirement, or other acquisition by the Company of any shares of its capital stock;

     (b) none of Seller, PB Energy or the Company has sold, leased, transferred, or assigned any of
its assets related to the Business other than assets that are not material to the Business in the
Ordinary Course of Business nor has any of Seller, PB Energy or the Company granted or created or
permitted to be created any Liens on any assets related to the Business other than Permitted Liens;

     (c) none of Seller, PB Energy or the Company has entered into any Contracts related to the
Business either involving more than U.S.$100,000 individually or U.S.$250,000 in the aggregate or
outside the Ordinary Course of Business;

     (d) none of Seller, PB Energy or the Company has accelerated, terminated, modified, or
canceled any Contract related to the Business involving more than U.S.$100,000 individually or
U.S.$250,000 in the aggregate to which the Seller, PB Energy or the Company is a party or by which
Seller, PB Energy or the Company is bound;

     (e) none of Seller, PB Energy or the Company has made any capital expenditure related to the
Business either involving more than U.S.$50,000 individually or U.S.$100,000 in the aggregate or
outside the Ordinary Course of Business;

     (f) the Company has not made any capital investment in, any loan to, or any acquisition of the
securities of, any other Person;

     (g) the Company has not issued any note, bond, or other debt security or created, incurred,
assumed, or guaranteed any indebtedness for Borrowed Funds or capitalized lease obligation;

     (h) there has not been a change in the Accounting Principles used by Seller, PB Energy or the
Company related to the Business;

     (i) none of Seller, PB Energy or the Company has canceled, compromised, waived, or released
any right or claim related to the Business either involving more than U.S.$100,000 or outside the
Ordinary Course of Business;

     (j) none of Seller, PB Energy or the Company has granted any license or sublicense of any
rights under or with respect to the Business Intellectual Property, other than in the Ordinary
Course of Business;

     (k) there has been no change made or authorized in the articles of incorporation or bylaws of
the Company;

     (l) the Company has not declared, set aside, or paid any dividend or made any distribution
with respect to its capital stock (whether in cash or in kind) or redeemed, purchased, or otherwise
acquired any of its capital stock, except for dividends and distributions to Seller in the Ordinary
Course of Business;

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     (m) the Company has not experienced any material damage, destruction, or loss (whether or not
covered by insurance) to its property;

     (n) neither Seller nor PB Energy has experienced any material damage, destruction, or loss
(whether or not covered by insurance) to the Purchased Assets;

     (o) the Company has not made any loan to Seller or PB Energy or any Affiliate of Seller or PB
Energy;

     (p) none of Seller, PB Energy or the Company has entered into any employment, severance, or
similar Contract or collective bargaining agreement related to the Business, or modified the terms
of any existing such contract or agreement, except in the Ordinary Course of Business;

     (q) except in the Ordinary Course of Business, there has been no payment or increase by
Seller, PB Energy or the Company of any bonuses, salaries, or other compensation to any director,
officer, or (except in the Ordinary Course of Business) Business Employee or entry into any
employment agreement with any such director, officer, or employee;

     (r) the Company has not adopted, amended, modified, or terminated any bonus, profit-sharing,
incentive, severance, or other plan, contract, or commitment for the benefit of any of its
directors, officers, and employees (or taken any such action with respect to any other Business
Employee Plan); and

     (s) none of Seller, PB Energy or the Company has agreed, whether orally or in writing, to do
any of the foregoing.

     Section 4.09 No Undisclosed Liabilities. Except as set forth on Schedule
4.09, none of Seller, PB Energy or the Company has any material liability (whether known or
unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or
unaccrued, and whether liquidated or unliquidated) relating to the Business except for (a)
liabilities reflected or reserved against on the Financial Statements, (b) liabilities and
obligations of the types not required by the Accounting Principles to be disclosed in the Financial
Statements, and (c) liabilities incurred in the Ordinary Course of Business since the date of the
Reference Balance Sheet in accordance with the terms of this Agreement. Except as set forth on
Schedule 4.09, the Company has no Borrowed Funds, surety or other performance or payment
bonds or guarantees of indebtedness. Except as set forth on Schedule 4.09, neither Seller
nor PB Energy has any Borrowed Funds, surety bonds or other performance or payment bonds or
guarantees of indebtedness relating to the Business.

     Section 4.10 Title to Assets. (a) Seller and/or PB Energy has good and marketable
title to all the assets reflected on the Reference Balance Sheet, other than those disposed of
since the date of the Reference Balance Sheet in the Ordinary Course of Business, in each case free
and clear of all Liens, except (i) such Liens as are set forth in Schedule 4.10, (ii) Liens
arising under original purchase price conditional sales contracts and equipment leases with third
parties entered into in the Ordinary Course of Business, and (iii) liens for Taxes that are not due
and payable or that may thereafter be paid without penalty and for which Seller has

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maintained adequate reserves (the Liens described in clauses (ii) and (iii) above are referred
to collectively as “Permitted Liens”).

     (b) This Section 4.10 does not relate to real property or interests in real property, such
items being the subject of Section 4.11, or to Intellectual Property, such items being the subject
of Section 4.12.

     Section 4.11 Leased Real Property. The Company does not own any real property.
Schedule 4.11 sets forth a complete list of all real property and interests in real
property leased by Seller, PB Energy or the Company and used, held for use or intended to be used
primarily in the operation or conduct of the Business, other than any such property or interest
constituting an Excluded Asset (individually, a “Leased Real Property”) and identifies all
existing leases of the Leased Real Property (each a “Real Property Lease” and collectively,
the “Real Property Leases”). Each of the Real Property Leases is valid, subsisting and in
full force and effect in accordance with its terms and the tenant thereunder (Seller or the
Company, as applicable) is currently in peaceful and undisturbed possession of the respective
Leased Real Property. None of Seller or the Company or, to Seller’s or the Company’s knowledge,
the landlord under the respective Real Property Lease, is in default under such Real Property
Lease, and neither Seller nor the Company is aware of any facts or circumstances which, after
notice or lapse of time or both, would constitute a default under such Real Property Lease. Except
as set forth in Schedule 4.11, no consent of any landlord is required in connection with
this Agreement or the consummation of the transactions contemplated hereby.

     Section 4.12 Business Intellectual Property and Third-Party Intellectual Property.
(a) Schedule 4.12(a) sets forth a true and complete list of the trademarks, service marks,
trademark registrations and applications, service mark registrations and applications, patents,
patent applications, design registrations, copyrights, copyright applications and Software
constituting Business Intellectual Property. With respect to all Business Intellectual Property
that is registered or subject to an application for registration, Schedule 4.12(a) sets
forth a list of all jurisdictions in which such Business Intellectual Property is registered or is
subject to an application for registration and all registration and application numbers.
Schedule 4.12(a) also identifies each trade name and unregistered trademark used by any of
the Seller, PB Energy and the Company primarily in connection with the Business. Except as set
forth in Schedule 4.12(a), (i) to the knowledge of Seller, PB Energy and the Company, all
the Business Intellectual Property has been duly registered in, filed in or issued by the
appropriate Governmental Entity where such registration, filing or issuance is necessary or
appropriate for the conduct of the Business as presently conducted, (ii) either Seller, PB Energy
or the Company is the sole and exclusive owner of, and has the right to use, execute, reproduce,
display, perform, modify, enhance, distribute, prepare derivative works of, sell and license,
without payment to any other person, all the Business Intellectual Property and the consummation of
the transactions contemplated hereby does not and will not conflict with, alter or impair any such
rights, (iii) during the past three (3) years neither the Seller nor the Company has received any
written communication from any Person asserting any ownership interest in any Business Intellectual
Property, (iv) no item of Business Intellectual Property is subject to any outstanding Order and
(v) no Proceeding is pending or threatened which challenges the legality, validity, enforceability,
use, or ownership of any item of Business Intellectual Property.

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     (b) Except as set forth in Schedule 4.12(b), none of Seller, PB Energy or the Company
has granted any license of any kind relating to any Business Intellectual Property or the marketing
or distribution thereof.

     (c) Schedule 4.12(c) sets forth a true and complete list of all Third-Party
Intellectual Property, including all license fees, rents, royalties, or other charges that any of
Seller, PB Energy and the Company is obligated to pay in respect of the Third-Party Intellectual
Property. Seller, PB Energy and the Company have delivered or made available to Purchaser correct
and complete copies of all such licenses, sublicenses, agreements, and permissions (as amended to
date). With respect to each item of Third-Party Intellectual Property:

     (i) the license, sublicense, agreement, or permission covering the item is
legal, valid, binding, enforceable, and in full force and effect;

     (ii) no party to the license, sublicense, agreement, or permission is in breach
or default, and no event has occurred which with notice or lapse of time would
constitute a breach or default or permit termination, modification, or acceleration
thereunder;

     (iii) no party to the license, sublicense, agreement, or permission has
repudiated any provision thereof;

     (iv) with respect to each sublicense, the representations and warranties set
forth in subsections (i) through (iii) above are true and correct with respect to
the underlying license; and

     (v) none of Seller, PB Energy and the Company has granted any sublicense or
similar right with respect to the license, sublicense, agreement, or permission,
except as set forth in Schedule 4.12(c)(v).

     (d) Each item of Business Intellectual Property owned by any of Seller, PB Energy and the
Company immediately prior to the Closing will be owned or available for use by Purchaser or the
Company, as the case may be, on identical terms and conditions immediately subsequent to the
Closing.

     (e) The conduct of the Business as presently conducted does not violate, conflict with or
infringe the Intellectual Property of any other person. Except as set forth in Schedule
4.12(e), (i) no claims are pending or, to the knowledge of Seller, PB Energy or the Company,
threatened, against Seller, PB Energy or the Company by any Person with respect to the ownership,
validity, enforceability, effectiveness or use in the Business or otherwise by the Company of any
Intellectual Property, including but not limited to Business Intellectual Property, or Third-Party
Intellectual Property, (ii) during the past three (3) years none of Seller, PB Energy or the
Company has received any written communication alleging that the Company, or Seller in the conduct
of the Business, has violated any rights relating to Intellectual Property of any Person and (iii)
to the knowledge of Seller, PB Energy and the Company, no third party has interfered with,
infringed upon, misappropriated, or otherwise come into conflict with any Business Intellectual
Property rights of Seller, PB Energy or the Company.

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     (f) For all Software that is part of Business Intellectual Property, Schedule 4.12(f)
sets forth all Third-Party Intellectual Property (i) necessary for said Software to operate in the
manner intended and (ii) all Third-Party Intellectual Property incorporated into such Software.

     Section 4.13 Contracts. (a) Schedule 4.13(a) lists each of the following
Contracts of the Company, and of Seller and PB Energy relating primarily to the Business
(collectively, the “Business Contracts”):

     (i) all written employment agreements and employment Contracts, and any other
Contracts (whether made orally or in writing) providing for severance benefits in
the event of termination of employment;

     (ii) in each case with respect solely to the Company, all profit sharing, stock
option, stock purchase, stock appreciation, compensation (including any agreement
with regard to salary, wages, bonuses, commissions, change of control, pension,
options, retirement or profit sharing), deferred compensation, severance or other
plan or arrangement for the benefit of current or former directors, officers or
employers;

     (iii) all collective bargaining agreements or other Contracts with any labor
organization, union or association;

     (iv) each Contract for the purchase of inventory, spare parts, other materials
or personal property with any supplier or for the furnishing of services to the
Business or the Company under the terms of which Seller, PB Energy or the Company
(A) is likely to pay or otherwise give consideration of more than $25,000 per annum
or (B) is likely to pay or otherwise give consideration of more than $500,000 in the
aggregate over the remaining term of such Contract;

     (v) each Contract for the furnishing of services by the Business or the Company
which (A) is likely to involve consideration of more than $25,000 per annum or (B)
is likely to involve consideration of more than $1,000,000 in the aggregate over the
remaining term of the Contract;

     (vi) all material broker, distributor, dealer, manufacturer’s representative,
franchise, agency, sales promotion, market research, marketing, consulting and
advertising Contracts to which Seller, PB Energy or the Company is a party;

     (vii) all Contracts with subcontractors and independent contractors to which
Seller, PB Energy or the Company is party and which are not cancelable without
penalty or further payment and without more than thirty (30) days’ notice or
involves consideration of more than $25,000;

     (viii) all Contracts under which Seller, PB Energy or the Company has created,
incurred, assumed, or guaranteed any indebtedness for Borrowed Funds,

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or any capitalized lease obligation, or under which it has imposed a Lien
(other than a Permitted Lien) on any of its assets, tangible or intangible;

     (ix) all Contracts that limit or purport to limit the ability of Seller, PB
Energy, or the Company to compete in any line of business or with any Person or in
any geographic area or during any period of time;

     (x) all Contracts concerning confidentiality, except for such Contracts entered
into in connection with transactions or communications with third parties in the
Ordinary Course of Business;

     (xi) all written Contracts between or among the Company, on one hand, and
Seller or PB Energy, on the other hand;

     (xii) all joint venture and partnership agreements, or other Contracts
involving the sharing of profits and losses of any partnership, joint venture or
other jointly formed entity, to which Seller, PB Energy or the Company is a party;

     (xiii) all Contracts with respect to reorganizations, mergers or acquisitions
of capital stock of or business assets of any Person completed within the last five
(5) years;

     (xiv) all Contracts, leases and subleases concerning the use, occupancy,
management or operation of any real property to which Seller, PB Energy or the
Company is a party;

     (xv) all Contracts for the lease of personal property to or from any Person
providing for lease payments in excess of U.S.$25,000 per annum;

     (xvi) all Contracts related to the Third-Party Intellectual Property, except
for so-called “shrink-wrap” and other non-customized license agreements relating to
computer software licensed in the Ordinary Course of Business; and

     (xvii) all other Contracts, whether or not made in the Ordinary Course of
Business, which are material to Seller, PB Energy, the Company or the conduct of the
Business.

     (b) Except as set forth in Schedule 4.13(b), all Contracts required to be listed in
Schedule 4.13(a) are valid, binding on Seller, PB Energy or the Company and in full force
and effect and shall continue to be valid, binding on Seller, PB Energy and the Company, as the
case may be, and in full force and effect following the consummation of the transactions
contemplated by this Agreement, except insofar as affected or limited by bankruptcy, insolvency,
moratorium, reorganization or similar Laws affecting creditors’ rights generally and general
equitable principles.

     (c) To the knowledge of Seller, PB Energy and the Company, no event has occurred which, with
notice or lapse of time, or both, would constitute a breach or default, or permit termination,
modification, or acceleration under any Business Contract.

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     Section 4.14 Receivables. Except to the extent, if any, reserved for on the Reference
Balance Sheet, all the Purchased Receivables and the other accounts receivable of the Business,
including those reflected on the Reference Balance Sheet and those Purchased Receivables and
accounts receivable of the Business that have arisen since the date of the Reference Balance Sheet
and have not yet been collected, (a) represent valid obligations of customers of Seller, PB Energy
or the Company, as the case may be, arising from bona fide transactions entered into in the
Ordinary Course of Business and (b) are collectible.

     Section 4.15 Permits. (a) Schedule 4.15 sets forth all material Permits (x)
issued or granted to the Company and (y) issued or granted to Seller or PB Energy that are used or
held for use primarily in the operation or conduct of the Business. Except as set forth in
Schedule 4.15, (i) all such Permits are in full force and effect and are validly held by
the Company, Seller or PB Energy, as the case may be, and the Company, Seller or PB Energy, as the
case may be, has complied in all material respects with all terms and conditions thereof, (ii)
during the past three (3) years, none of the Company, Seller or PB Energy has received written
notice of any Proceeding relating to the noncompliance with, revocation or modification of any such
Permits the loss of which, individually or in the aggregate, has had or would reasonably be
expected to have a Business Material Adverse Effect, and (iii) none of such Permits will be subject
to suspension, modification, revocation or nonrenewal as a result of the execution and delivery of
this Agreement or the consummation of the transactions contemplated hereby.

     (b) Seller, PB Energy and the Company possess all Permits necessary to conduct the Business as
currently conducted, other than such Permits the absence of which, individually or in the
aggregate, has not had and would not reasonably be expected to have a Business Material Adverse
Effect.

     Section 4.16 Sufficiency of Assets. Except as set forth in Schedule 4.16 or
as contemplated by this Agreement and the Ancillary Agreements, the Purchased Assets and the assets
of the Company are sufficient for the conduct of Business immediately following the Closing in
substantially the same manner as currently conducted.

     Section 4.17 Taxes. (a) Except as set forth in Schedule 4.17, the Company:
(i) has timely filed or caused to be filed all Tax Returns which it is or has been required to
file, by any jurisdiction in which it is or has been subject to taxation, all such Tax Returns
being true, correct and complete in all material respects; (ii) has timely paid or caused to be
paid in full all Taxes shown to be due on such Tax Returns; (iii) has made or caused to be made all
withholdings of Taxes required to be made, and such withholdings have either been paid to the
appropriate Governmental Entity or set aside in accounts for such purpose; and (iv) has otherwise
satisfied all material legal requirements applicable with respect to such obligations to all taxing
jurisdictions.

     (b) Except as set forth on Schedule 4.17, the federal income Tax Returns of the
Company since January 1, 2003, have not been audited by the Internal Revenue Service, nor, to
Seller’s knowledge, is there any pending or threatened audit, investigation or review of the
Company by the Internal Revenue Service.

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     (c) Except as set forth on Schedule 4.17, the state income Tax Returns of the Company
since January 1, 2003, have not been audited by the State of Maryland, nor, to Seller’s knowledge,
is there any pending or threatened audit, investigation or review of the Company by the State of
Maryland.

     (d) Except as set forth on Schedule 4.17, to Seller’s knowledge, there are no
unassessed Tax deficiencies proposed or threatened against the Company, nor are there any
agreements, waivers or other arrangements providing for extension of time with respect to the
assessment or collection of any Tax against the Company or any Proceedings or investigations now
pending against the Company with respect to any Tax.

     (e) No claim has ever been made by a Governmental Entity in a jurisdiction where the Company
does not file Tax Returns that it is or may be subject to taxation by that jurisdiction nor, to
Seller’s knowledge, is there any factual or legal basis for any such claim.

     (f) Seller has delivered, or made available, to Purchaser correct and complete copies of (i)
all state, local, and foreign income and employment Tax Returns of the Company that are filed on a
separate company basis with respect to all taxable periods for which the statute of limitations is
still open and (ii) copies of all examination reports and statements of deficiencies that have been
assessed against or agreed to by the Company and that may have any material effect on the tax
liability of the Company for any present or future taxable period or for any past taxable period
for which the statute of limitations is still open.

     (g) The Company (i) has not made an election, nor is required, to treat any asset as owned by
another Person pursuant to the provisions of section 168(f) of the Code or as tax-exempt bond
financed property or tax-exempt use property within the meaning of section 168 of the Code, (ii)
has not made any of the foregoing elections nor is required to apply any of the foregoing rules
under any comparable state or local tax provision, and (iii) does not own any material assets that
were financed directly or indirectly with, or that directly or indirectly secure, debt the interest
on which is tax-exempt under section 103(a) of the Code.

     (h) The transaction contemplated herein, either by itself or in conjunction with any other
transaction that the Company may have entered into or agreed to, will not give rise to any federal
income tax liability under section 355(e) of the Code for which the Company may in any way be held
liable.

     (i) Except as set forth on Schedule 4.06, there are no joint ventures, partnerships or
limited liability companies to which the Company is a party.

     (j) To the knowledge of Seller and the Company, the Company does not have, nor has it ever
had, a “permanent establishment” in any foreign country, as such term is defined in any applicable
Tax treaty or convention between the United States and such foreign country.

     (k) The Company is not a party to any tax sharing agreement which will continue in effect
after the Closing Date.

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     (l) For purposes of this Agreement, “Tax” and “Taxes” shall include all
income, gross receipts, franchise, excise, transfer, severance, value added, sales, use, wage,
payroll, workmen’s compensation, employment, occupation and real and personal property taxes; taxes
measured by or imposed on capital; levies, imposts, duties, licenses, legislation fees; other taxes
imposed by a Governmental Entity, including assessments in the nature of taxes; including interest,
penalties, fines, assessments and deficiencies relating to any tax or taxes; and including any
transferee or secondary liability for taxes and any liability in respect of taxes as a result of
being a member of any affiliated, consolidated, combined or unitary group or any liability in
respect of taxes under a tax sharing, tax allocation, tax indemnity or other agreement.

     (m) For purposes of this Agreement, “Tax Return” or “Tax Returns” includes all
reports, estimates, information, statements, schedules, declarations and returns relating to or
required to be filed in connection with any Taxes pursuant to the statutes, rules or regulations of
any Taxing Authority.

     Section 4.18 Proceedings. Schedule 4.18 sets forth a list as of the date of
this Agreement of each pending or, to the knowledge of Seller, PB Energy and the Company,
threatened Proceeding or claim with respect to which Seller, PB Energy or the Company has been
contacted in writing by counsel for the plaintiff or claimant arising out of the conduct of the
Business or against or affecting the Purchased Assets or the Company or any of its assets and that
(a) relates to or involves more than $50,000, (b) seeks any material injunctive relief or (c)
relates to the transactions contemplated by this Agreement. Except as set forth in Schedule
4.18, none of Seller, PB Energy or the Company is a party or subject to or in default under any
Order relating to the Business. Except as set forth in Schedule 4.18, there is not any
Proceeding or claim by Seller, PB Energy or the Company pending, or which Seller, PB Energy or the
Company intends to initiate, against any other Person arising out of the conduct of the Business.
Except as set forth in Schedule 4.18, to the knowledge of Seller, PB Energy and the
Company, there is no pending or threatened investigation of the conduct of the Business or any
Purchased Asset or asset of the Company.

     Section 4.19 Benefit Plans. (a) Purchaser will have no liability or obligations with
respect to any employee benefit plans, as defined in Section 3(3) of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), employment, compensation, bonus, stock option,
stock purchase, restricted stock, incentive, deferred compensation, retiree medical or life
insurance, split dollar insurance, supplemental retirement, layoff or unemployment, severance,
change of control, loans, vacation, holiday, sick leave, disability, or other benefit plans,
programs, arrangements or fringe benefits, in each case, which are provided, maintained,
contributed to or sponsored by Seller, PB Energy or the Company or their Affiliates for the benefit
of any Business Employees (collectively, “Business Employee Plans”), except as assumed by
Purchaser under Section 2.02(c).

     (b) Except as would not have a Purchaser Material Adverse Effect, (i) all Business Employee
Plans have been maintained, operated and/or complied with both their terms and with the
requirements of all applicable statutes, orders, rules and regulations, including without
limitation ERISA and the Code; and (ii) all contributions required to be made to Business Employee
Plans have been timely made. Seller has delivered or made available to Purchaser an accurate and
complete summary of each such Employee Benefit Plan. None of

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Seller, PB Energy or the Company or any their ERISA Affiliates have provided, maintained,
contributed to or sponsored within the last (5) years (i) any pension plan that is, or was, a
defined benefit pension plan (including a multiple employer plan) or a multi-employer pension plan,
subject to Title IV of ERISA or (ii) any plan that provides post-employment medical, life insurance
or other benefits to employees or former employees (other than as is required by part 6 of Subtitle
B of Title I of ERISA). For this purpose, the term “ERISA Affiliate” means, with respect
to Seller, PB Energy and the Company, any corporation or trade or business (whether or not
incorporated) that is part of the same controlled group, or under common control with, or part of
an affiliated service group that includes Seller, PB Energy or the Company, within the meaning of
Code sections 414(b), (c), (m) or (o) and/or ERISA Section 4001(a)(14).

     Section 4.20 Compliance with Applicable Laws. (a) The Company is in compliance in
all material respects with all applicable Laws, including those relating to occupational health and
safety. Seller and PB Energy, solely with respect to the conduct of the Business, are in
compliance in all material respects with all applicable Laws, including those relating to
occupational health and safety. Except as set forth in Schedule 4.20, none of Seller, PB
Energy or the Company has received any written communication notice during the past three (3) years
from a Governmental Entity that alleges that the Company or the Business is not in compliance in
any material respect with any applicable Law. This Section 4.20(a) does not relate to matters with
respect to Taxes, which are the subject of Section 4.17, or to environmental matters, which are the
subject of Section 4.20(b).

     (b) Except for any matter disclosed on Schedule 4.20, which would not reasonably be
expected to have a Business Material Adverse Effect, (i) Seller, PB Energy and the Company conduct
the Business in compliance with all applicable Laws relating to protection of the environment
(“Environmental Laws”), (ii) Seller, PB Energy and the Company possess and are in
compliance with all Permits required under Environmental Laws for the conduct of the Business and
(iii) there are no pending or, to the knowledge of Seller, PB Energy and the Company, threatened
Proceedings against Seller, PB Energy or the Company alleging that the Business or the Company is
in violation of any Environmental Law.

     Section 4.21 Employee and Labor Matters. (a) Schedule 4.21(a) contains a
complete and correct list of all Business Employees (other than the Excluded Employees), including
job title and compensation paid or payable, annual paid time off entitlement and any paid time off
accrued through April 28, 2006.

     (b) Except as set forth in Schedule 4.21(b): (i) there is not any, and during the
past three (3) years there has not been any, labor strike, dispute, picketing, work stoppage,
slowdown, lockout pending or existing, or, to the knowledge of Seller, PB Energy and the Company,
threatened, against the Business, and, to the knowledge of Seller, PB Energy and the Company, no
event has occurred or circumstance exists that could provide the basis for any work stoppage or
other labor dispute; (ii) to the knowledge of Seller, PB Energy and the Company, no union
organizational campaign is in progress with respect to the Business Employees and no question
concerning representation of such employees exists; (iii) none of Seller, PB Energy or the Company
is engaged in any unfair labor practice in connection with the conduct of the Business; (iv) there
are not any unfair labor practice charges or complaints against Seller, PB Energy or the Company,
or, to the knowledge of Seller, PB Energy and the Company,

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threatened, before the National Labor Relations Board or any other Governmental Entity in
connection with the conduct of the Business; (v) there are not any pending, or, to the knowledge of
Seller, PB Energy and the Company, threatened, union grievances against Seller, PB Energy or the
Company in connection with the conduct of the Business; (vi) there are not any pending, or, to the
knowledge of Seller, PB Energy and the Company, threatened, charges in connection with the conduct
of the Business against Seller, PB Energy or the Company or any current or former employee of the
Business before the Equal Employment Opportunity Commission or any state or local agency
responsible for enforcement of any federal or state employment Laws or investigations of compliance
with any federal or state employment Laws; (vii) there are no threatened or pending Proceedings
against Seller, PB Energy, the Company or any current or former employees thereof by any current or
former employees, applicants for employment or independent contractors as to which there is a
reasonable possibility of adverse determination and that, if so determined, individually or in the
aggregate, would reasonably be expected to have a Business Material Adverse Effect; and (viii) none
of Seller, PB Energy or the Company has received written communication during the past three (3)
years of the intent of any Governmental Entity responsible for the enforcement of labor or
employment Laws to conduct an investigation of the Business or the Company and, to the knowledge of
Seller, PB Energy and the Company, no such investigation is in progress.

     (c) The Company is not a party to any collective bargaining or other labor contract. There is
not presently pending or existing any application for certification of a collective bargaining
unit.

     Section 4.22 Accounts; Safe Deposit Boxes; Powers of Attorney; Officers and Directors.
Schedule 4.22 sets forth (i) a true, correct and complete list of all bank and savings
accounts, certificates of deposit and safe deposit boxes of the Company, including the name and
location of the bank at which the accounts are held, the account names, the account numbers, and
the names of those persons authorized to sign thereon, (ii) a true, correct and complete list of
all powers of attorney granted by the Company and those persons authorized to act thereunder and
(iii) a true, correct and complete list of all officers and directors of the Company

     Section 4.23 Customers and Suppliers. Schedule 4.23 lists each customer that
individually or with its Affiliates was, based on the revenues of the Business during the fiscal
year ended October 28, 2005, one of the ten (10) largest customers of the Business during such
fiscal year or accounted for five percent (5%) or more of the revenues of the Business during such
fiscal year. Schedule 4.23 also lists the ten (10) largest suppliers or service providers
to the Business as of the date of the Reference Balance Sheet based on the amount paid to such
suppliers or service providers. To the knowledge of Seller, PB Energy and the Company, all of them
have reasonable commercial working relationships with the ten (10) largest customers and ten (10)
largest suppliers or service providers of the Business. Except as set forth in Schedule
4.23, none of Seller, PB Energy or the Company has knowledge of any termination or termination
threatened in writing of any project in which it is engaged pursuant to a Business Contract.

     Section 4.24 Related Party Transactions. Except as set forth on Schedule
4.24, there are no Contracts between the Company, on one hand, and Seller, PB Energy or any
Affiliate of Seller or PB Energy, on the other hand, other than Contracts that will not survive the

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Closing and Contracts pursuant to which Seller, PB Energy or Affiliates of Seller or PB
Energy provide Support Services to the Company. Seller, PB Energy and the Company has delivered or
made available to Purchaser correct and complete copies of all Contracts set forth on Schedule
4.24.

     Section 4.25 Brokers or Finders. Seller represents, as to itself and its Affiliates,
that no agent, broker, investment banker or other firm or Person is or will be entitled to any
broker’s or finder’s fee or any other commission or similar fee in connection with any of the
transactions contemplated by this Agreement.

ARTICLE V

Representations and Warranties of Purchaser

     Purchaser hereby represents and warrants to Seller, PB Energy and the Company that all of the
statements contained in this Article V are true and complete as of the date of this Agreement (or,
if made as of a specified date, as of such date), and will be true and complete as of the Closing
Date as though made on the Closing Date:

     Section 5.01 Organization, Standing and Power. Purchaser is duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it is organized and has
full corporate power and authority and possesses all Permits necessary to enable it to own, lease
or otherwise hold its properties and assets and to carry on its business as presently conducted,
other than such Permits the lack of which, individually or in the aggregate, have not had and would
not reasonably be expected to have a material adverse effect on the ability of Purchaser to perform
its obligations under this Agreement and the Ancillary Agreements or on the ability of Purchaser to
consummate the transactions contemplated hereby (a “Purchaser Material Adverse Effect”).

     Section 5.02 Authority; Execution and Delivery; and Enforceability. Purchaser has
full corporate power and authority to execute this Agreement and the Ancillary Agreements to which
it is, or is specified to be, a party and to consummate the transactions contemplated hereby and
thereby. The execution and delivery by Purchaser of this Agreement and the Ancillary Agreements to
which it is, or is specified to be, a party and the consummation by Purchaser of the transactions
contemplated hereby and thereby have been duly authorized by all necessary corporate action.
Purchaser has duly executed and delivered this Agreement and prior to the Closing will have duly
executed and delivered each Ancillary Agreement to which it is, or is specified to be, a party, and
this Agreement constitutes, and each Ancillary Agreement to which it is, or is specified to be, a
party will after the Closing constitute, its legal, valid and binding obligation, enforceable
against it in accordance with its terms (subject, as to enforcement, to applicable bankruptcy,
insolvency, moratorium, reorganization or similar Laws affecting creditors’ rights generally and to
general equitable principles).

     Section 5.03 No Conflicts; Consents.

     (a) The execution and delivery by Purchaser of this Agreement do not, the execution and
delivery by Purchaser of each Ancillary Agreement to which it is, or is specified to be, a party will not, and the consummation of the transactions contemplated hereby and
thereby and compliance by Purchaser with the terms hereof and thereof will not conflict with, or

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result in any violation of or default (with or without notice or lapse of time, or both) under any
provision of (i) the articles of incorporation or by-laws of Purchaser or any of its subsidiaries,
(ii) any Contract to which Purchaser or any of its subsidiaries is a party or by which any of their
respective properties or assets is bound or (iii) any Order or Law applicable to Purchaser or any
of its subsidiaries or their respective properties or assets, other than, in the case of clauses
(ii) and (iii) above, any such items that, individually or in the aggregate, have not had and would
not reasonably be expected to have a Purchaser Material Adverse Effect.

     (b) No Consent of or registration, declaration or filing with any Governmental Entity is
required to be obtained or made by or with respect to Purchaser or any of its subsidiaries in
connection with the execution, delivery and performance of this Agreement or any Ancillary
Agreement or the consummation of the transactions contemplated hereby and thereby, other than (i)
those that may be required solely by reason of the participation of Seller, PB Energy and the
Company (as opposed to any other third party) in the transactions contemplated hereby and by the
Ancillary Agreements and (ii) where failure to obtain such a Consent or registration or to make
such declaration or filing or provide such notice would not, individually or in the aggregate, have
had or would reasonably be expected to have a Purchaser Material Adverse Effect.

     Section 5.04 Securities Act. The Shares purchased by Purchaser pursuant to this
Agreement are being acquired for investment only and not with a view to any public distribution
thereof, and Purchaser shall not offer to sell or otherwise dispose of the Shares so acquired by it
in violation of any of the registration requirements of the Securities Act.

     Section 5.05 Availability of Funds. Purchaser has sufficient cash available to enable
it to consummate the transactions contemplated hereby, including the deliveries of the Closing Date
Amount and the Escrow Amount.

     Section 5.06 Access to Information. Purchaser acknowledges that it and its advisors
and representatives have (i) been permitted access to the books and records, officers and other
employees, documents and information regarding the Company and the Business and other properties
and assets constituting the Business that they, their advisors or their representatives have
requested to obtain and/or review in connection with their legal, accounting and/or operational due
diligence investigation or otherwise in connection with this Agreement and the transactions
contemplated hereby, including access to data rooms prepared and maintained by Seller, PB Energy
and the Company and their respective advisors and the documents, information and materials
contained in and/or referenced in indexes relating to such data rooms, (ii) had opportunity and
sufficient time to meet with and make inquiries of the officers and other employees of Seller and
the Company and their respective advisors and representatives in regards to this Agreement
(including the Schedules), the Ancillary Agreements and the Business, including during management
presentations made at the Company’s principal offices in Maryland and (iii) had sufficient time to
consider and assess the results of the foregoing investigation, review, inquiries and analysis with
their advisors prior to and in connection with the execution of this Agreement and the consummation
of the transactions contemplated hereby.

     Section 5.07 Brokers or Finders. Purchaser represents, as to itself and its
Affiliates, that no agent, broker, investment banker or other firm or Person is or will be entitled

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to any broker’s or finder’s fee or any other commission or similar fee in connection with any of
the transactions contemplated by this Agreement, except Closa Corporate Advisors S.L. and/or its
Affiliates, whose fees and expenses will be paid by Purchaser.

ARTICLE VI

Covenants

     Section 6.01 Covenants Relating to Conduct of Business.

     (a) Except for matters (i) set forth in Schedule 6.01, (ii) expressly agreed to by
Purchaser or (iii) or otherwise expressly permitted by the terms of this Agreement, from the date
of this Agreement to the Closing, Seller, PB Energy and the Company shall conduct the Business in
the usual, regular and ordinary course in substantially the same manner as previously conducted
and, to the extent consistent therewith, use commercially reasonable efforts to keep intact the
Business. Notwithstanding the foregoing, Purchaser acknowledges and agrees that, except as
otherwise agreed in the Ancillary Agreements, relationships with Seller and certain of its
Affiliates providing services to the Business and the Company will terminate as of the Closing as
contemplated in Section 6.15and that such termination shall not constitute a breach of this
Agreement.

     (b) Except as set forth in Schedule 6.01 or otherwise expressly permitted or required
by the terms of this Agreement, the Company shall not, and Seller and PB Energy shall not with
respect to the Business or the Company, do any of the following without the prior written consent
of Purchaser:

     (i) amend the articles of incorporation or by-laws of the Company;

     (ii) redeem or otherwise acquire any shares of the Company’s capital stock or
issue any capital stock or any option, warrant or right relating thereto or any
securities convertible into or exchangeable for any shares of capital stock;

     (iii) (A) grant to any executive officer or employee any increase in
compensation or benefits, except in the Ordinary Course of Business or as may be
required under existing agreements and except for any increases for which Seller or
PB Energy shall be solely obligated; (B) enter into any employment agreements (or
amend, change or supplement in any material respect any existing employment
agreement or arrangement) with respect to any employees; (C) pay or agree to pay any
pension, retirement allowance or other employee benefit not required by any
existing plan, agreement or arrangement to any employee, whether past or present; or
(D) commit itself to any pension, profit-sharing, bonus, incentive, deferred
compensation, group insurance, severance pay, retirement, or other employee benefit
plan, agreement or arrangement, or to any employment or consulting agreement with or
for the benefit of any employee or to terminate or amend any of such plans or any of such agreements in existence on
the date of this Agreement;

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     (iv) incur or assume any liabilities, obligations or indebtedness for borrowed
money or guarantee any such liabilities, obligations or indebtedness, other than in
the Ordinary Course of Business; provided, however, that in no event
shall the Business or the Company incur or assume any long-term indebtedness for
borrowed money;

     (v) permit, allow or suffer any Purchased Asset or any asset of the Company to
become subjected to any Lien of any nature whatsoever that would have been required
to be set forth in Schedule 4.10 if existing on the date of this Agreement;

     (vi) cancel any material indebtedness (individually or in the aggregate) or
waive any claims or rights of in excess of U.S. $10,000 individually or U.S. $50,000
in the aggregate;

     (vii) pay, loan or advance any amount to, or sell, transfer or lease any of its
assets to, or enter into any agreement or arrangement with, Seller or any of its
Affiliates, except for (A) dividends and distributions from the Farradyne Division
or the Company to Seller and (B) intercompany transactions, in both cases in the
Ordinary Course of Business;

     (viii) make any change in the Accounting Principles;

     (ix) acquire by merging or consolidating with, or by purchasing a substantial
portion of the assets of, or by any other manner, any business or any corporation,
partnership, association or other business organization or division thereof or
otherwise acquire any assets (other than inventory) that are material;

     (x) make or incur any capital expenditure that is not currently approved in
writing or budgeted and that, individually, is in excess of U.S. $50,000 or make or
incur any such expenditures which, in the aggregate, are in excess of U.S. $100,000;

     (xi) sell, lease, license or otherwise dispose of any of its assets that are
material, individually or in the aggregate, to the Business, except inventory and
obsolete or excess equipment sold in the Ordinary Course of Business;

     (xii) enter into any lease of real property, except any renewals of the Real
Property Leases in the Ordinary Course of Business;

     (xiii) enter into any Contract outside the Ordinary Course of Business;

     (xiv) modify or change any Business Contract in any material respect; or

     (xv) authorize any of, or commit or agree to take, whether in writing or
otherwise, to do any of, the foregoing actions.

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     (c) Consistent with Seller’s, PB Energy’s and the Company’s past practices, Seller, PB Energy,
and the Company shall each maintain and keep their respective properties and assets in at least as
good condition and repair, reasonable wear and tear excepted, as the condition and repair of such
properties and assets are in as of the date hereof.

     (d) None of Seller, PB Energy, or the Company shall take any action or fail to take any action
that would constitute a default (with or without notice or lapse of time, or both) under any
Business Contract or any agreement relating to or affecting the Business.

     (e) Each of Seller, PB Energy and the Company shall use reasonable commercial efforts to
maintain reasonable commercial working relationships with all of the existing customers and
suppliers of the Business and shall not make any grant of credit to any customer or supplier.

     (f) Each of Seller, PB Energy, and the Company shall maintain its insurance policies and
programs with respect to the Business in their current amounts and a basis consistent with past
practice.

     (g) Seller, PB Energy, and the Company shall file, prosecute, and maintain all Business
Intellectual Property rights.

     Section 6.02 No Solicitation. Seller, PB Energy and the Company shall not, nor shall
any of them authorize or permit any officer, director or employee of or any investment banker,
attorney, accountant or other representative retained by any of them to, (a) solicit, initiate or
encourage any Other Bid, (b) enter into any agreement with respect to any Other Bid or (c)
participate in any discussions or negotiations regarding, or furnish to any Person any information
with respect to, or take any other action to facilitate any inquiries or the making of any proposal
that constitutes, or may reasonably be expected to lead to, any Other Bid. Seller, PB Energy and
the Company promptly shall advise Purchaser orally and in writing of any Other Bid or any inquiry
with respect to or which could lead to any Other Bid and the identity of the Person making any such
Other Bid or inquiry. As used in this Section 6.02, “Other Bid” shall mean any proposal for a
merger, sale of securities, sale of substantial assets or similar transaction involving the
Company, the Business or any proposal to acquire in any manner any of the Purchased Assets or the
assets of the Company, other than (i) the transactions contemplated by this Agreement and (ii) the
acquisition of inventory in the Ordinary Course of Business.

     Section 6.03 Access to Information. Seller, PB Energy and the Company shall afford to
Purchaser and its accountants, counsel and other representatives reasonable access, upon reasonable
notice during normal business hours during the period prior to the Closing, to all the properties,
books, Contracts, commitments, Tax Returns, records and executive officers of the Business (other
than the Excluded Assets), and, during such period, shall furnish promptly to Purchaser any
information concerning the Company or the Business as Purchaser may reasonably request;
provided, however, that such access does not unreasonably disrupt the normal
operations of Seller, PB Energy, the Company or the Business. Following the date hereof, Seller, PB Energy and the Company shall cooperate with Purchaser to afford to
Purchaser, upon Purchaser’s reasonable advance notice and request therefor, access to key

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customers and suppliers of the Business upon terms acceptable to Seller, PB Energy and the Company in the
exercise of their reasonable business judgment.

     Section 6.04 Confidentiality; Publicity. (a) Purchaser acknowledges that the
documents, materials and other information being provided to it in connection with the transactions
contemplated hereby are subject to the terms of a confidentiality agreement between Purchaser and
Seller dated as of August 8, 2005 (the “Confidentiality Agreement”), the terms of which are
incorporated herein by reference; provided, however, that, subject to the following
sentence, the obligations of the parties thereto, except the obligations set forth in paragraphs 6
and 11 thereof, shall expire three (3) years from the Closing Date. Effective upon, and only upon,
the Closing, the Confidentiality Agreement shall terminate with respect to information relating
solely to the Company and the Business; provided, however, that the Parties
acknowledge that any and all other information provided to the other Party concerning Purchaser,
Seller, PB Energy or the Company, as the case may be, but excluding information related to the
Business, shall remain subject to the terms and conditions of the Confidentiality Agreement after
the Closing Date.

     (b) From the date hereof through the Closing Date, no public release or announcement
concerning the transactions contemplated hereby shall be issued by any Party without the prior
consent of the other Parties (which consent shall not be unreasonably withheld), except as such
release or announcement may be required by Law or the rules or regulations of any United States or
foreign securities exchange, in which case the Party required to make the release or announcement
shall allow the other Party reasonable time to comment on such release or announcement in advance
of such issuance; provided, however, that each of Seller, PB Energy, the Company
and Purchaser may make internal announcements to their respective employees that are consistent
with the Parties’ prior public disclosures regarding the transactions contemplated hereby after
reasonable prior notice to and consultation with the other Party.

     Section 6.05 Reasonable Best Efforts. (a) On the terms and subject to the conditions
of this Agreement, each Party shall use its reasonable best efforts to cause the Closing to occur,
including taking all reasonable actions necessary to comply promptly with all legal requirements
that may be imposed on it with respect to the Closing. Each of Seller, PB Energy, the Company and
Purchaser shall not take any actions that would, or that would reasonably be expected to, result in
any of the conditions set forth in Article VII not being satisfied.

     (b) Purchaser acknowledges that certain Consents with respect to the transactions contemplated
by this Agreement may be required from parties to the Business Contracts (the “Required
Consents”) and that such Required Consents have not been obtained and may not be obtained prior
to or at Closing. Purchaser agrees that, subject to the provisions set forth in Section 6.05(e)
with respect to Material ITS Contracts, Seller shall not have any liability whatsoever to Purchaser
arising out of or relating to the failure to obtain such Required Consents or because of the
termination of any Business Contract as a result thereof. Purchaser further agrees that no
representation, warranty or covenant of Seller, PB Energy or the Company contained herein shall be
breached or deemed breached, and no condition shall be deemed not satisfied, as a result of (i) the
failure to obtain those Required Consents prior to or at Closing, (ii) any such termination or (iii) any Proceeding or investigation commenced or threatened by or on

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behalf of any Person arising out of or relating to the failure to obtain those Required Consents or
any such termination.

     (c) Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement
shall be deemed to require the sale, assignment, or transfer or conveyance of any asset or any
claim or right or any benefit arising under or resulting from such asset if an attempted
assignment, conveyance or transfer thereof, without the Consent of a third party, would (i)
constitute a breach or other contravention of the rights of such third party, (ii) be ineffective
with respect to any party to an agreement concerning such asset, claim or right, (iii) in any way
adversely affect the rights of Seller or PB Energy or (iv) upon transfer pursuant to the
transactions contemplated hereby, adversely effect the Company or Purchaser, under such asset,
claim or right. If any transfer or assignment by Seller or PB Energy to, or any assumption by the
Company or Purchaser of, any interest in, or liability, obligation or commitment under, any asset
requires the Consent of a third party, then such assignment or assumption shall be made subject to
such Consent being obtained.

     (d) As will be more fully described in, and subject to the terms and conditions of, the
Transition Agreement, to the extent a Party has been unable to obtain any third-party Consents
required for the transfer of any Business Contract (other than any ITS Contract) and to the extent
not otherwise prohibited by the terms of any such Business Contract: (i) Seller shall continue to
be bound by the terms of such applicable Business Contract and Purchaser shall pay, perform and
discharge fully all of the obligations of Seller thereunder from and after the Closing to the
extent that the corresponding benefit is received; (ii) Seller shall, without consideration
therefor, pay, assign and remit to Purchaser promptly all monies, rights and other consideration
received in respect of such performance; and (iii) Seller shall exercise or exploit its rights in
respect of such Business Contracts only as reasonably directed by Purchaser; provided,
however, that Seller and its Affiliates shall not be required to commence, defend or
participate in any litigation or offer or grant any accommodation (financial or otherwise) to any
third party. For not more than one hundred eighty (180) days following the Closing Date, each
Party hereto shall continue to use reasonable best efforts to obtain all such unobtained Required
Consents at the earliest practicable date. If and when any such Required Consents shall be
obtained, then Seller or PB Energy, as the case may be, shall promptly assign its rights and
obligations thereunder to Purchaser without payment of consideration and Purchaser shall, without
the payment of any consideration therefor, assume such rights and obligations. Each Party shall
execute such good and sufficient instruments as may be necessary to evidence such assignment and
assumption.

     (e) Notwithstanding Section 6.05(b), as will be more fully described in, and subject to the
terms and conditions of, the Transition Agreement, for each Business Contract providing for the
provision by Seller, PB Energy or the Company of ITS services (“ITS Contracts”) for which
Seller, PB Energy or the Company has been unable to obtain a Required Consent for the transfer of
any such ITS Contract and to the extent not otherwise prohibited by the terms of such ITS Contract:
(i) Seller and/or PB Energy, as the case may be, shall continue to be bound by the terms of such
ITS Contract and (ii) the Parties shall either enter into (A) subcontracting arrangements in a form
to be attached to the Transition Agreement under which Seller and/or PB Energy, as the case may be,
is the prime contractor and the Company is the subcontractor or (B) secondment arrangements in a
form to be attached to the Transition Agreement under which the Company shall provide and make available to Seller Transferred

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Employees with the requisite skill and experience to provide the ITS services required by such ITS
Contract, in each case with the intent that the work pursuant to the ITS Contracts shall continued
uninterrupted and the Company or Purchaser shall obtain the economic benefit, if any, of each ITS
Contract. If both of the above arrangements are not permitted by the terms of an ITS Contract or
objected to in writing by the other party to the ITS Contract and the Required Consent relating
thereto will not have otherwise been obtained by September 30, 2006, then solely with respect to
those ITS Contracts set forth and identified on Schedule 6.05(e) (the “Material ITS
Contracts”), Purchaser shall have the option, exercisable in writing, to adjust the Purchase
Price in accordance with amounts and/or the calculations set forth on Schedule 6.05(e) for
each Required Consent not so obtained, such amounts and/or calculations intended to reflect the
loss of contract margin to Purchaser as a result of the inability to obtain the Required Consent,
and such affected ITS Contract shall remain the sole obligation of Seller and/or PB Energy, as the
case may be. Seller shall deliver to Purchaser, in immediately available funds by wire transfer to
a bank account designated by Purchaser, any amounts and/or calculations payable to Purchaser in
accordance with the preceding sentence within three (3) Business Days of the receipt of notice from
Purchaser by Seller setting forth such amounts and/or calculations and designating such bank
account.

     (f) Each of Seller and PB Energy shall use its reasonable best efforts to cooperate with and
provide assistance to Purchaser and the Company prior to the Closing Date and after the Closing
Date in accordance with the terms of the Transition Agreement to obtain pre-qualifications required
by Governmental Entities in certain jurisdictions in order to perform certain ITS Contracts.

     (g) Purchaser and the Company shall, with Seller’s cooperation, use their reasonable best
efforts to procure, as soon as reasonably practicable following the Closing Date, and in any event
not later than one hundred eighty (180) days following the Closing Date, (i) the release of Seller
from all surety bonds (including without limitation, bid, performance, advance payment and labor
and materials payment bonds) issued by any surety or insurance company in respect of the ITS
Contracts as identified in Schedule 4.09 to the Agreement and (ii) the issuance of
replacement surety bonds. If, despite such efforts, any such replacement surety bonds are not
issued within such one hundred eighty (180)-day period, then Purchaser and the Company shall cause
the issuance of back-to-back surety bonds in favor of Seller.

     Section 6.06 Notification to Purchaser of Damage or Destruction of Assets or Material
Changes. Seller shall give promptly to Purchaser written notice upon becoming aware of any
material adverse change or destruction of any of the material properties or assets of Seller, PB
Energy or the Company relating primarily to the Business, as the case may be.

     Section 6.07 Notices of Certain Events.

     (a) Prior to or after the Closing, Seller, PB Energy and the Company shall promptly notify
Purchaser upon becoming aware of:

     (i) any notice or other written communication from any Person alleging that the
consent of such Person is or may be required in connection with the transactions
contemplated by this Agreement;

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     (ii) any notice or other written communication from any Governmental Entity in
connection with the transactions contemplated by this Agreement; and

     (iii) any Proceedings commenced or threatened in writing against, relating to,
involving or otherwise affecting the Business, which, if pending on the date of this
Agreement, would have been required to have been disclosed pursuant to Section 4.18
or which relate to the transactions contemplated by this Agreement.

     (b) Notification by Seller, PB Energy or the Company to Purchaser of any of the events
referred to in Section 6.07(a) or in Section 6.06 shall not be deemed to cure any related breaches
of the representations, warranties, covenants or agreements contained in this Agreement or the
Ancillary Agreements, nor shall the failure of Purchaser to take any action with respect to such
notice be deemed a waiver of any such breach or breaches.

     Section 6.08 Expenses; Transfer Taxes. (a) Whether or not the Closing takes place,
and except as set forth in Sections 6.08(b) and 10.03 and Article IX, all costs and expenses
incurred in connection with this Agreement and the Ancillary Agreements and the transactions
contemplated hereby and thereby shall be paid by the Party incurring such expense, including all
costs and expenses incurred pursuant to Section 6.05.

     (b) All transfer Taxes applicable to the transfer of the Purchased Assets to the Company, and
all transfer Taxes applicable to the transfer of the Shares to Purchaser, shall be borne equally by
Seller and Purchaser. Each Party shall use reasonable efforts to avail itself of any available
exemptions from any such Taxes or fees, and to cooperate with the other Parties in providing any
information and documentation that may be necessary to obtain such exemptions.

     Section 6.09 Employment and Employee Benefit Plans. (a) Purchaser shall offer
employment to all Business Employees, other than employees of the Company and the employees listed
on Schedule 6.09 (such employees, the “Excluded Employees”), effective as of the
Closing Date, under compensation terms and arrangements that are reasonably consistent with
compensation provided to similarly situated employees in Purchaser’s and its Affiliates’ businesses
located within the United States and in accordance with Purchaser’s and its Affiliates’ standard
practices with respect to employees located within the United States. Purchaser shall continue the
employment of all Business Employees employed by the Company, effective as of the Closing Date, and
nothing herein shall preclude Purchaser from modifying the terms and conditions of the employment
of Business Employees of the Company on and after the Closing Date, as Purchaser, in its sole
discretion, shall determine.

     (b) If a Business Employee is not employed by the Company and is not actively employed as of
the Closing Date, Purchaser shall have no obligation to offer employment to such Business Employee
unless he or she is able to return to active employment as a condition of acceptance of his or her
offer of employment.

     (c) As of the Closing Date, Seller and Parsons Brinckerhoff, Inc. shall execute the
Transferred Employee Waiver and the KESOP Waiver.

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     (d) Purchaser shall offer group medical plan coverage to Transferred Employees (and their
eligible dependents) that provides immediate eligibility and covers claims incurred after the
Closing Date. Purchaser’s group health care plans shall provide that employment with Seller and
its Affiliates shall be credited under such plan for purposes of eligibility to participate and
eliminating any limitations on pre-existing conditions. Except as contemplated by Section
2.02(c)(i), Seller, PB Energy and the Business Employee Plans shall be responsible and liable for
all welfare benefit claims that are incurred by Transferred Employees on or prior to the Closing
Date, and by Business Employees up until such time as they become Transferred Employees. For
purposes of this Section 6.09(d), (i) a claim for health benefits will be deemed to have been
incurred on the date on which the related medical service or material was rendered to, prescribed
or received by the Transferred Employee claiming such benefit, (ii) a claim for sickness or
disability benefits or workers compensation will be deemed to have been incurred on the date on
which such injury or illness giving rise to such claim occurred, and (iii) in the case of any claim
for benefits other than health benefits and sickness and disability benefits (e.g., life insurance
benefits), a claim will be deemed to have been incurred upon the occurrence of the event giving
rise to such claim.

     (e) Seller and PB Energy shall be responsible for complying with all obligations under Part 6,
Subtitle B of Title I of ERISA, as amended (“COBRA”), with respect to Business Employees
and other “qualified beneficiaries” who incur a “qualifying event” under the Business Employee
Plans on or prior to the Closing Date (i.e., including a termination of employment with Seller or
PB Energy). Purchaser shall be responsible for complying with all COBRA obligations with respect
to any Transferred Employee and other qualified beneficiaries as a result of any qualifying events
under COBRA occurring after the Closing Date.

     (f) Purchaser shall not assume, and Seller, PB Energy and their Affiliates shall retain,
indemnify, defend and hold harmless Purchaser and its Affiliates from and against, all liabilities
and claims that may be brought (i) by Business Employees (or their respective dependants and
beneficiaries) in connection with their employment or termination of employment in the Business on
or prior to the Closing Date, and (ii) with respect to any Business Employee Plan (other than
employee liabilities expressly assumed pursuant Section 2.02(c)(i)), including without limitation
any liability for payment of any claim thereunder or that otherwise arose as a result of events or
conditions occurring on or prior to the Closing Date (including severance pay or other
post-employment benefits).

     (g) During the one (1)-year period following the Closing, subject to Purchaser’s compliance
with its obligations under Section 6.09(a) above, neither Seller nor PB Energy nor any of their
Affiliates shall, without the prior written consent of Purchaser, employ or otherwise engage as an
employee or independent contractor any Business Employee (other than the Excluded Employees) that
does not become a Transferred Employee.

     Section 6.10 Tax Matters. (a) Tax Returns.

     (i) Seller shall have the exclusive obligation and authority to file or cause
to be filed all Tax Returns that are required to be filed by or with respect to
Seller for all taxable years or periods and, to the extent the Company is included

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in any consolidated or combined Tax Returns with Seller, with respect to the Company
for all taxable years or periods ending on or prior to the Closing Date.

     (ii) Seller shall have the obligation to prepare for filing by Purchaser Tax
Returns that are required to be filed by or with respect to the Company for all
taxable years and periods that end on or before the Closing Date, other than Tax
Returns that are described in clause (i) above, for filing by Purchaser in a manner
consistent with the procedures described in clause (iii) below.

     (iii) Except as provided in clauses (i) and (ii), Purchaser shall have the
exclusive obligation and authority to file or cause to be filed all Tax Returns that
are required to be filed after the Closing Date by or with respect to the Company
for any other taxable year or period; provided, however, that items
set forth on any Tax Returns for tax periods ending on or before the Closing Date
shall be treated in a manner consistent with the past practices (taking into account
any amended Tax Returns and the submissions of any IRS Forms 3115 filed prior to the
Closing Date) with respect to such items unless otherwise required by Law. Prior to
the filing of any Tax Return with respect to the Company for (A) the Straddle Period
and (B) for any taxable period to the extent such Tax Return is not filed on a
consolidated or combined basis with Seller, and no later than thirty (30) days prior
to the due date for filing of such Tax Return, Purchaser shall provide Seller (or,
in the case of Tax Returns referred to in clause (ii), Seller shall provide
Purchaser) with notice, which notice shall (y) set forth Purchaser’s (or Seller’s)
calculations regarding the amount of such Taxes which is allocated to Seller
pursuant to Section 9.01(d) in sufficient detail and particularity to enable Seller
to verify the amount of the Taxes and (z) include a draft of such Tax Return. No
later than fifteen (15) days prior to the due date for filing of such Tax Return,
Seller shall notify Purchaser of any reasonable objections Seller may have to
Purchaser’s calculations regarding the amount of such Taxes which Purchaser
determined is allocated to Seller pursuant to Section 9.01(d) and to any items set
forth in such draft Tax Returns. If Seller does not notify Purchaser of any such
objection, then Seller shall promptly remit to Purchaser its allocable portion of
any Taxes due in respect of such Tax Return. Purchaser and Seller agree to consult
and resolve in good faith any such objection, it being understood and agreed that in
the absence of any such resolution, any and all such objections shall be resolved in
a manner consistent with the past practices with respect to such items unless
otherwise required by Law.

     (b) Controversies. Purchaser shall promptly forward to Seller all notifications and
other communications from any Taxing Authority relating to any Tax audit or other Proceeding
relating to the Tax liability of the Company with respect to a taxable year or period (or portion
thereof) ending on or prior to the Closing Date. The failure of Purchaser to give Seller such
written notice shall excuse Seller from its obligations under Section 9.01(a) with respect to any
increased Tax liability directly or indirectly attributable to any such notification or other communication if the failure to provide such written notice adversely affected the
ability of Seller to contest any claim arising from such Tax audit or other Proceeding.
Notwithstanding any provisions to the contrary contained in this Agreement, Purchaser shall have
the sole right to

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control and make all decisions regarding the Company’s interests in any Tax audit
or administrative or court proceeding relating to Taxes (other than any audit or proceeding
relating to a Tax Return in which Company’s income and expenses are combined or consolidated with
Seller’s), including selection of counsel and selection of a forum for such contest;
provided, however, that in the event such audit or proceeding relates to Taxes for
which Seller is responsible and has agreed to indemnify Purchaser pursuant to Section 9.01 hereof,
(i) Purchaser and Seller shall cooperate in the conduct of any audit or proceeding relating to such
period, (ii) Seller shall have the right to participate in such audit or proceeding at Seller’s
expense, (iii) Purchaser shall not enter into any agreement with the relevant Taxing Authority
pertaining to such Taxes without the written consent of Seller, which consent shall not
unreasonably be withheld, and (iv) Purchaser may, without the written consent of Seller, enter into
such an agreement provided that Purchaser shall have agreed in writing to forego any
indemnification under this Agreement with respect to such Taxes. In the event of any conflict
between the provisions of this Section 6.10(b) and any other provision of this Agreement, the
provisions of this Section 6.10(b) shall control.

     (c) Section 338(h)(10) Elections. The Parties mutually acknowledge their
understanding that the sale of the Shares of the Company by Seller to Purchaser shall be treated as
a sale of the assets of the Company for federal income Tax purposes pursuant to the Section
338(h)(10) Elections, followed by a sale of the Purchased Assets by Seller to the Company. The
Parties covenant to report such transactions in accordance with this understanding.

     (i) Purchaser and Seller shall make a joint election pursuant to section
338(h)(10) of the Code (and any corresponding provision of state or local Law) with
respect to the purchase and sale of the Company (the “Section 338(h)(10)
Elections”) in the manner described in this Section 6.10(c). The “Section
338 Forms” shall mean all forms and schedules required to be filed in connection
with the Section 338(h)(10) Elections, including, without limitation, IRS Form 8023,
IRS Form 8883 and all attachments required to be filed therewith pursuant to the
applicable Treasury Regulations.

     (ii) At least ten (10) days prior to the Closing Date, Seller and Purchaser
shall agree on the form and content of the Section 338 Forms (other than the amount
and allocation of the modified aggregate deemed sales price and the adjusted
grossed-up basis (as such terms are defined under applicable Treasury Regulations),
which shall be determined in accordance with Section 6.10(c)(iii), and shall
exchange copies thereof (which shall be deemed final except with respect to such
items as are to be determined pursuant to Section 6.10(c)(iii)) and acceptable
accompanying signature pages. In the event that Seller and Purchaser do not agree
on such form and content of any such Section 338 Forms, such disagreement shall be
resolved by the Accounting Firm; provided, however, that any such
disputed item shall be resolved in favor of Purchaser unless there is no reasonable
basis for Purchaser’s position.

     (iii) On or before the last day of the fourth (4th) month beginning after the
month that includes the Closing Date, Purchaser shall provide to Seller a proposed
allocation of the “modified aggregate deemed sales price” for the

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deemed sale of assets resulting from the making of the Section 338(h)(10) Elections. If Seller
does not object within ten (10) Business Days after receipt of Purchaser’s proposed
allocation, such allocation shall be treated as the agreed final allocation. If
Seller objects in writing to Purchaser’s proposed allocation within ten (10)
Business Days after the receipt thereof, Seller and Purchaser shall use their best
efforts to agree on an allocation. If the parties cannot agree within five (5)
Business Days of receipt by Purchaser of Seller’s objection to an allocation, such
disagreement shall be resolved by the Accounting Firm. Promptly, but not later than
fifteen (15) Business Days after its acceptance of appointment for purposes of this
Section 6.10(c)(iii), the Accounting Firm shall determine (based solely on
representations of Purchaser and Seller and not by independent review) only those
matters in dispute and will render a written report as to the disputed matters and
the resulting preparation of the Section 338 Forms will be conclusive and binding
upon the Parties. Seller and Purchaser shall be responsible for filing all Section
338 Forms.

     (iv) Seller shall pay all Taxes attributable to the making of the Section
338(h)(10) Elections, including any federal, state, local or foreign Tax
attributable to an election under federal, state, local or foreign law similar to
the election available under Section 338(h)(10) of the Code.

     (v) Purchaser and Seller agree that neither of them shall take any action to
modify the Section 338(h)(10) Forms following the execution thereof, or to modify or
revoke the Section 338(h)(10) Elections following the filing of the Section 338
Forms, without the written consent of Seller or Purchaser, as the case may be.
Further, each of Purchaser and Seller agrees and covenants that it will take every
action reasonably necessary to ensure that all Section 338(h)(10) Elections
contemplated by this Agreement will become and continue to be effective for all
periods, and will not for any reason fail to qualify and remain effective.

     (vi) Purchaser and Seller shall timely file all Tax Returns in a manner
consistent with the information contained in the Section 338 Forms as filed and the
final allocation described in Section 6.10(c)(iii).

     (d) Allocation of the Purchase Price. The Parties agree to allocate the Purchase
Price and Assumed Liabilities between the Shares and the Purchased Assets in accordance with
Section 2.03 hereof. The Parties further agree to allocate the Purchase Price among the items
comprising the Purchased Assets as required by Section 1060 of the Code on Schedule 6.10(d)
(and Form 8594 or such other form for federal income tax reporting) and to mutually agree to any
adjustments of such Schedule as may be required to reflect any Purchase Price Adjustment required
by Section 3.03 and any indemnification payments under Article IX hereof treated as an adjustment
of the Purchase Price.

     (e) Seller shall furnish to Purchaser on or before the Closing Date a certification of
Seller’s non-foreign status as set forth in Treasury Regulation section 1.1445-2(b).

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     (f) Seller and Purchaser agree that any indemnities payable under this Agreement shall be
treated as adjustments in the Purchase Price for all Tax purposes and that all Tax Returns shall be
filed in accordance with such treatment.

     Section 6.11 Agreement Not To Compete. (a) Each of Seller, PB Energy and the Company
understands that Purchaser shall be entitled to protect and preserve the going concern value of the
Business to the extent permitted by Law and that Purchaser would not have entered into this
Agreement absent the provisions of this Section 6.11 and, therefore, for a period of two (2) years
from the Closing, Seller and PB Energy shall not, and shall cause each of their Affiliates not to,
directly or indirectly, individually or as a partner, owner, shareholder or joint venturer:

     (i) (A) engage in activities or businesses, or establish any new businesses,
within the United States and/or Canada that are substantially in competition with
the Business and the business of staffing and managing traffic management centers
relating solely to ITS, other than the sale of Permitted Goods and Services
(“Restricted Activities”), (B) engage in soliciting any customer or
prospective customer of the Business to purchase any product or service
substantially competitive with the Business, other than the Permitted Goods and
Services, from Seller and/or its Affiliates and (C) engage in assisting any Person
in any way to do, or attempt to do, anything prohibited by clause (A) or (B) above;
and

     (ii) perform any action, activity or course of conduct that is detrimental to
the Business (other than the sale of Permitted Goods and Services) or business
reputation, including (A) soliciting or recruiting any individual who was a Business
Employee or consultant of the Business on the Closing Date (other than the Excluded
Employees), (B) soliciting or encouraging any individual who was a Business Employee
on the Closing Date (other than the Excluded Employees) to leave the employment of
the Business and (C) disclosing or furnishing to anyone any confidential information
relating to the Business.

     (b) For purposes of this Agreement, “Permitted Goods and Services” shall mean (w)
goods not sold or offered to be sold by the Business, and services not performed or proposed to be
performed by the Business in response to a formal solicitation, in each case during the twelve (12)
month period immediately prior to Closing, (x) any transportation planning and any strategic
consulting such as policy, financing or project specification and program development, (y) any
goods and services under which Seller and/or its Affiliates subcontract ITS services to Persons
other than Seller or any of its Affiliates in connection with projects in which ITS services are a
non-exclusive component and (z) the supply of goods and services by Seller and/or its Affiliates
(1) under the Contracts set forth on Schedule 6.11(b) (including any future modifications, future
pursuits or future engagements relating thereto) or (2) as otherwise contemplated by Section 6.05
or the Transition Agreement.

     (c) Section 6.11(a) shall not be deemed breached as a result of the ownership by Seller or any
of its Affiliates of: (i) less than an aggregate of five percent (5%) of any class of stock of a
Person engaged, directly or indirectly, in Restricted Activities; or (ii) less than five

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percent (5%) in value of any instrument of indebtedness of a Person engaged, directly or indirectly, in
Restricted Activities.

     (d) Notwithstanding any other provision of this Agreement, it is understood and agreed that
the remedy of indemnity payments pursuant to Article IX and other remedies at Law would be
inadequate in the case of any breach of the covenants contained in Section 6.11(a). Purchaser
shall be entitled to equitable relief, including the remedy of specific performance, with respect
to any breach or attempted breach of such covenants. It is further understood and agreed that, in
the case of any breach of the covenants contained in Section 6.11(a), the two (2)-year period of
applicability of Section 6.11(a) shall be tolled until such breach is cured.

     Section 6.12 Bulk Transfer Laws. Purchaser hereby waives compliance by Seller with
the provisions of any so-called “bulk transfer law” of any jurisdiction in connection with the sale
of the Purchased Assets to the Company.

     Section 6.13 Further Assurances. From time to time, as and when requested by any
Party, each Party shall execute and deliver, or cause to be executed and delivered, all such
documents and instruments and shall take, or cause to be taken, all such further or other actions
(subject to Section 6.05), as such other Party may reasonably deem necessary or desirable to
consummate the transactions contemplated by this Agreement, including, in the case of Seller, PB
Energy and the Company, executing and delivering to Purchaser such assignments, deeds, bills of
sale, consents and other instruments as Purchaser or its counsel may reasonably request as
necessary or desirable for such purpose.

     Section 6.14 Transition Agreement. During the period following the date of this
Agreement and prior to the Closing, Seller, PB Energy and Purchaser shall negotiate and finalize in
good faith a transition agreement in a mutually satisfactory form in accordance with the terms and
conditions described in Exhibit D (the “Transition Agreement”).

     Section 6.15 Support Services. Seller and its Affiliates provide the Company with
certain support services, including information technology, cash management, credit and accounts
receivable, payroll and human resources, legal, Tax and benefit plan administration (collectively,
“Support Services”). Purchaser acknowledges that, except to the extent provided in the
Transition Agreement or the Cooperation Agreement, all Support Services will be terminated as of
the Closing Date.

     Section 6.16 Cooperation Agreement. During the period following the date of this
Agreement and prior to the Closing, Seller, PB Energy and Purchaser shall negotiate and finalize in
good faith a cooperation agreement in a mutually satisfactory form in accordance with the terms and
conditions described in Exhibit E (the “Cooperation Agreement”).

     Section 6.17 Names Following Closing. (a) Immediately prior to or at the Closing,
Seller shall cause the name of the Company to be changed to a name selected by Purchaser but not
including or similar to any of the Names.

     (b) Purchaser shall cause the Company promptly, and in any event (a) within thirty (30) days
after the Closing, to revise, modify or redact product literature and labeling to

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delete all references to the Names and (b) within thirty (30) days after the Closing, to
change signing and stationery and otherwise discontinue use of the Names; provided,
however, that Purchaser shall include or affix on each page of any such stationery a
disclaimer stating that such the Company is not affiliated with Seller or its Affiliates (the
“Disclaimer”). In no event shall Purchaser or the Company use any Names after the Closing
in any manner or for any purpose different from the use of such Names by the Company during the
ninety (90)-day period preceding the Closing. With respect to product inventory manufactured by
the Company prior to the Closing, the Company may continue to sell such inventory, notwithstanding
that it bears one or more of the Names, for ninety (90) days after the Closing; provided,
however, that such Purchaser must affix the Disclaimer to any and all such inventory.
Following the Closing. Purchaser and the Company and their Affiliates shall not use the Names
other than in a factual manner or as expressly contemplated by and in accordance with this Section
6.17(b). “Names” means “PB,” “Parsons Brinckerhoff,” “PB Energy,” “Alltech” and “Parsons”
and any variations and derivatives thereof and any other logos or trademarks of Seller or its
Affiliates not included in the Business Intellectual Property.

     (c) Prior to or at the Closing, Seller shall cause the names of any legal entities owned by
Seller or any of Seller’s Affiliates containing the Company Names to be changed to names not
including or similar to the Company Names. Following the Closing, Seller and its Affiliates shall
not use the Company Names other than in a factual manner. “Company Names” means
“Farradyne” and any variations and derivatives thereof.

     Section 6.18 Assignment of Michigan and Ohio Contracts. (a) At the Closing, Seller
shall cause Parsons Brinckerhoff Michigan, Inc. to assign to Purchaser or its designated Affiliate
the Contracts set forth on Schedule 6.18(a).

     (b) At the Closing, Seller shall cause Parsons Brinckerhoff Ohio, Inc. to assign to Purchaser
or its designated Affiliate the Contracts set forth on Schedule 6.18(b).

     Section 6.19 Alltech Subcontracts. At the Closing, PB Energy shall, or shall cause
its applicable Affiliate(s) to, and Purchaser shall, or shall cause its designated Affiliate(s) to,
enter into written subcontractor agreements, mutually acceptable to PB Energy and Purchaser, in
respect of the Contracts set forth on Schedule 6.19.

     Section 6.20 Transfer of Service Mark. At the Closing, Seller shall cause PBC
International, Inc. to assign to Purchaser or its designated Affiliate the SmartNET service mark.

ARTICLE VII

Conditions Precedent

     Section 7.01 Condition to Each Party’s Obligation. Each of the respective obligations
of the Parties is subject to the satisfaction or waiver on or prior to the Closing of the following
condition: No applicable Law or Order enacted, entered, promulgated, enforced or issued by any
Governmental Entity or other legal restraint or prohibition preventing the consummation of the
transactions contemplated hereby shall be in effect.

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     Section 7.02 Conditions to Obligation of Purchaser. The obligations of Purchaser to
purchase and pay for the Shares, to cause the Company to purchase and pay for the Purchased Assets
and to assume the Assumed Liabilities and to deliver the Escrow Amount to the Escrow Agent is
subject to the satisfaction (or waiver by Purchaser) on or prior to the Closing Date of the
following conditions:

     (a) Representations and Warranties. Each of the representations and warranties of
Seller, PB Energy and the Company made in this Agreement shall be true and correct in all material
respects as of the date hereof and as of the Closing Date as though made on the Closing Date, other
than representations and warranties that expressly speak as of a specific date or time (which need
be true and correct, as modified in the manner described above with respect to representations and
warranties which do not speak as of a specific date or time, only as of such time).

     (b) Performance of Obligations of Seller, PB Energy and the Company. Each of Seller,
PB Energy and the Company shall have performed or complied in all material respects with all
obligations and covenants required by this Agreement to be performed or complied with by it by the
time of the Closing, and Purchaser shall have received a certificate signed by an authorized
officer of Seller confirming the foregoing.

     (c) No Business Material Adverse Effect. No event or events having a Business
Material Adverse Effect shall have occurred since the date of this Agreement.

     (d) No Proceedings. No Proceedings shall be pending or threatened before any
Governmental Entity or before any arbitrator wherein an unfavorable Order would (i) prevent
consummation of any of the transactions contemplated by this Agreement or (ii) permit consummation
of the transaction contemplated by this Agreement only subject to any condition or restriction that
has had or would have a Business Material Adverse Effect.

     (e) KESOP Waiver. Seller and Parsons Brinckerhoff, Inc. shall have executed the KESOP
Waiver.

     (f) Transferred Employee Waiver. Seller and Parsons Brinckerhoff, Inc. shall have
executed the Transferred Employee Waiver.

     Section 7.03 Conditions to Obligation of Seller and PB Energy. The obligation of
Seller to sell the Shares to Purchaser and the obligations of Seller and PB Energy to sell the
Purchased Assets to Purchaser are subject to the satisfaction (or waiver by Seller) on or prior to
the Closing Date of the following conditions:

     (a) Representations and Warranties. Each of the representations and warranties of
Purchaser made in this Agreement shall be true and correct in all material respects as of the date
hereof and as of the Closing Date as though made on the Closing Date, other than representations
and warranties that expressly speak as of a specific date or time (which need be true and correct,
as modified in the manner described above with respect to representations and warranties which do
not speak as of a specific date or time, only as of such time).

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     (b) Performance of Obligations of Purchaser. Purchaser shall have performed or
complied in all material respects with all obligations and covenants required by this Agreement to
be performed or complied with by Purchaser by the time of the Closing, and Seller shall have
received a certificate signed by an authorized officer of Purchaser confirming the foregoing.

     (c) No Purchaser Material Adverse Effect. No event or events having a Purchaser
Material Adverse Effect shall have occurred since the date of this Agreement.

     Section 7.04 Frustration of Closing Conditions. Neither Purchaser nor Seller may rely
on the failure of any condition set forth in this Article VII to be satisfied if such failure was
caused by such Party’s failure to act in good faith or to use its reasonable best efforts to cause
the Closing to occur, as required by Section 6.05.

ARTICLE VIII

Termination, Amendment and Waiver

     Section 8.01 Termination. (a) Notwithstanding anything to the contrary in this
Agreement, this Agreement may be terminated and the transactions contemplated by this Agreement
abandoned at any time prior to the Closing:

     (i) by mutual written consent of Seller and Purchaser;

     (ii) by Seller if any of the conditions set forth in Sections 7.01 or 7.03
shall have become incapable of fulfillment, and shall not have been waived by
Seller;

     (iii) by Purchaser if any of the conditions set forth in Sections 7.01 or 7.02
shall have become incapable of fulfillment, and shall not have been waived by
Purchaser; or

     (iv) by Seller or Purchaser, if the Closing does not occur on or prior to
August 15, 2006;

provided, however, that the Party seeking termination pursuant to clause (ii),
(iii) or (iv) is not then in material breach of any of its representations, warranties, covenants
or agreements contained in this Agreement.

     (b) In the event of termination by Seller or Purchaser pursuant to this Section 8.01, written
notice thereof shall forthwith be given to the other and the transactions contemplated by this
Agreement shall be terminated, without further action by any Party. If the transactions
contemplated by this Agreement are terminated as provided herein:

     (i) Purchaser shall return all documents and other material received from
Seller, PB Energy or the Company relating to the transactions contemplated hereby,
whether so obtained before or after the execution hereof, to Seller; and

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     (ii) all confidential information received by the Parties with respect to
Purchaser, Seller, PB Energy or the Company, as the case may be, shall be treated in
accordance with the Confidentiality Agreement, as amended in accordance with Section
6.04, which shall remain in full force and effect notwithstanding the termination of
this Agreement.

     Section 8.02 Effect of Termination. If this Agreement is terminated and the
transactions contemplated hereby are abandoned as described in Section 8.01, this Agreement shall
become null and void and of no further force and effect, except for the provisions of (i) Section
6.04 relating to, among other things, the obligation of Purchaser to keep confidential certain
information and data obtained by it, (ii) Section 6.08 relating to certain expenses, (iii) Sections
4.25 and 5.07 relating to finder’s fees and broker’s fees, (iv) Section 8.01 and this Section 8.02
and (v) Article X. Nothing in this Section 8.02 shall be deemed to release any Party from any
liability for any breach by such Party of the terms and provisions of this Agreement or to impair
the right of any Party to compel specific performance by any other Party of its obligations under
this Agreement.

ARTICLE IX

Indemnification

     Section 9.01 Tax Indemnification. (a) From and after the Closing, Seller shall
indemnify Purchaser and its Affiliates (including, upon consummation of the Closing, the Company)
and each of their respective officers, directors, employees, stockholders, agents and
representatives (the “Purchaser Indemnitees”) against and hold them harmless from (i) all
liability for Taxes arising from any breach or inaccuracy of any representation or warranty
contained in Section 4.17, (ii) all liability for Taxes of the Company or any affiliated group of
which the Company has ever been a member for the Pre-Closing Tax Period, (iii) all liability (as a
result of Treasury Regulation § 1.1502-6(a) or otherwise) for Taxes of Seller or any other
corporation which is or has been affiliated with Seller (other than the Company) and (iv) all
liability for reasonable legal fees and expenses for any item attributable to any item in clauses
(i), (ii) or (iii) above.

     (b) From and after the Closing, PB Energy shall indemnify the Purchaser Indemnitees against
and hold them harmless from (i) all liability arising from any breach or inaccuracy of any
representation or warranty contained in Section 4.17, (ii) all liability (as a result of Treasury
Regulation § 1.1502-6(a) or otherwise) for Taxes of PB Energy and (iii) all liability for
reasonable legal fees and expenses for any item attributable to any item in clause (i) or (ii)
above.

     (c) From and after the Closing, Purchaser shall, and shall cause the Company to, indemnify
Seller, PB Energy and their Affiliates and each of their respective officers, directors, employees,
stockholders, agents and representatives (the “Seller Indemnitees”) and hold them harmless
from (i) all liability for Taxes of the Company for any taxable period ending after the Closing
Date (except to the extent such taxable period began before the Closing Date, in which case the
indemnity under this Section 9.01(c) shall cover only that portion of any such Taxes that are not
for the Pre-Closing Tax Period), (ii) all liability for Taxes attributable to any

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action taken after the Closing by Purchaser, any of its Affiliates (including the Company), or
any transferee of Purchaser or any of its Affiliates (other than any such action expressly required
by applicable Law or by this Agreement) or to a breach by Purchaser of its obligations under this
Agreement and (iii) all liability for reasonable legal fees and expenses attributable to any item
in clause (i) or (ii) above.

     (d) In the case of any taxable period of the Company that includes (but does not end on) the
Closing Date (a “Straddle Period”), real, personal and intangible property Taxes allocable
to the Pre-Closing Tax Period shall equal the amount of such Taxes for the entire Straddle Period
multiplied by a fraction, the numerator of which is the number of days during the Straddle Period
that are in the Pre-Closing Tax Period and the denominator of which is the number of days in the
Straddle Period. In the case of all other Taxes for a Straddle Period, the amount of such Taxes
allocable to the Pre-Closing Tax Period shall be determined on the basis of a deemed closing of the
books of the Company, taking into account all events that have occurred on or prior to the Closing
Date.

     (e) Except as provided in Section 6.10(b), Purchaser and the Company shall cooperate with
Seller in contesting any claim by any Taxing Authority (a “Tax Claim”), which cooperation
shall include, without limitation, the retention and (upon Seller’s request) the provision to
Seller of records and information which are reasonably relevant to such Tax Claim, and making
employees available on a mutually convenient basis to provide additional information or explanation
of any material provided hereunder or to testify at proceedings relating to such Tax Claim.

     (f) In no case shall Purchaser or the Company or any of their respective officers, directors,
employees, stockholders, agents or representatives settle or otherwise compromise any Tax Claim
without Seller’s prior written consent. Neither Party shall settle a Tax Claim relating solely to
Taxes of the Company for a Straddle Period without the other Party’s prior written consent.

     Section 9.02 Other Indemnification by Seller. From and after the Closing and subject
to the other provisions of this Article IX, Seller shall indemnify and defend each Purchaser
Indemnitee against and hold it harmless from any loss, liability, claim, damage or expense
including reasonable legal fees and expenses (collectively, “Losses”) suffered or incurred
by such Purchaser Indemnitee (other than any Loss relating to Taxes, for which indemnification
provisions are set forth in Section 9.01(a)) to the extent arising from or relating to:

     (a) the breach of any representation or warranty of Seller, PB Energy or the Company that is
contained in this Agreement, in any Ancillary Agreement or in any certificate delivered pursuant
hereto;

     (b) the breach or non-performance of any covenant or agreement made and to be performed by
Seller, PB Energy or, prior to the Closing, the Company in this Agreement;

     (c) Seller’s or PB Energy’s fraud and/or willful misconduct;

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     (d) all claims or counterclaims that (A) the defendant in the matter described in or set forth
on Schedule 4.12(e) (the “Defendant”) has asserted in the Proceeding described
thereon, including if the Defendant asserts claims or counterclaims in a subsequent Proceeding that
are substantively identical to the claims or counterclaims made in the Proceeding described on
Schedule 4.12(e); or (B) the Defendant could have but did not assert against the named
plaintiff or Seller in the Proceeding described in Schedule 4.12(e) as of the Closing Date,
provided that and only to the extent that such unasserted claims relate to or arise out of the
Business Intellectual Property at issue in such Proceeding (as such Business Intellectual Property
exists on or existed before the Closing Date) and the facts, events or allegations underlying such
Proceeding; and

     (e) the Excluded Liabilities.

     Section 9.03 Other Indemnification by PB Energy. From and after the Closing and
subject to the other provisions of this Article IX, PB Energy shall indemnify and defend each
Purchaser Indemnitee against and hold it harmless from any Losses suffered or incurred by such
Purchaser Indemnitee (other than any Loss relating to Taxes, for which indemnification provisions
are set forth in Section 9.01(b)) to the extent arising from or relating to:

     (a) the breach of any representation or warranty of PB Energy that is contained in this
Agreement, in any Ancillary Agreement or in any certificate delivered pursuant hereto;

     (b) the breach or non-performance of any covenant or agreement made and to be performed by PB
Energy in this Agreement;

     (c) PB Energy’s fraud and/or willful misconduct; and

     (d) any Excluded Liabilities of PB Energy.

     Section 9.04 Other Indemnification by Purchaser. From and after the Closing and
subject to the other provisions of this Article IX, Purchaser shall indemnify each Seller
Indemnitee against and hold it harmless from any Loss suffered or incurred by such Seller
Indemnitee (other than relating to Taxes, for which indemnification provisions are set forth in
Section 9.01) to the extent arising from or relating to:

     (a) the breach of any representation or warranty of Purchaser or Purchaser Parent that is
contained in this Agreement or any Ancillary Agreement or in any certificate delivered pursuant
hereto;

     (b) the breach or non-performance of any covenant or agreement made and to be performed by
Purchaser or, on or after the Closing, the Company in this Agreement; and

     (c) the Assumed Liabilities.

     Section 9.05 Calculation of Losses. The amount of any Loss for which indemnification
is provided under this Article IX shall be net of any amounts recovered by the indemnified party
under insurance policies with respect to such Loss.

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     Section 9.06 Termination of Indemnification. The obligations to indemnify and hold
harmless any Party (i) pursuant to Section 9.02(a), 9.03(a) or 9.04(a) shall terminate when the
applicable representation or warranty terminates pursuant to Section 9.11 and (ii) pursuant to
Section 9.02(b), 9.03(b) or 9.04(b) shall terminate when the applicable covenant terminates
pursuant to 9.11; provided, however, that such obligations to indemnify and hold
harmless shall not terminate with respect to any item as to which the Person to be indemnified
shall have, before the expiration of the applicable period, previously made a claim by delivering a
notice of such claim (stating in reasonable detail the basis of such claim) pursuant to Section
9.08 or 9.09 to the Party to be providing the indemnification.

     Section 9.07 Limitation of Liability.

     (a) In no event shall any Party be required to indemnify any Person, and no Party shall have
any liability:

     (i) under Sections 9.02(a), 9.02(b), 9.03(a), and 9.03(b), on the one hand, and
9.04(a) and, other than with respect to Seller’s, PB Energy’s or Purchaser’s
obligations under Articles II and III of this Agreement, 9.04(b), on the other hand,
unless the aggregate of all Losses (excluding such Losses arising out of a breach of
Sections 4.12(e) or 4.18, which shall be governed by Section 9.07(b)(i)) for which
Seller and PB Energy, or Purchaser, as the case may be, would, but for this clause
(i), be liable exceeds on a cumulative basis an amount equal to U.S.$400,000, in
which case Seller and PB Energy, or Purchaser, as the case may be, shall be entitled
to indemnification for the full amount of such Losses (subject to the other clauses
of this Section 9.07(a) and the other provisions of this Article IX);

     (ii) under Sections 9.02(a), 9.02(b), 9.03(a), 9.03(b), 9.04(a) or, other than
with respect to Seller’s, PB Energy’s or Purchaser’s obligations under Articles II
and III of this Agreement, 9.04(b) for any individual items where the Loss relating
thereto is less than U.S.$15,000 and such items shall not be aggregated for purposes
of Section 9.07(a)(i) above;

     (iii) under Sections 9.02(a), 9.02(b), 9.03(a) and 9.03(b), on the one hand,
and Sections 9.04(a) and, other than with respect to Purchaser’s obligations under
Articles II and III of this Agreement, 9.04(b) in excess of the Escrow Amount;

provided, however, that clauses (i), (ii) and (iii) shall not apply to any claim
for indemnification arising out of a breach or alleged breach of (x) Sections 4.01 (Seller, PB
Energy — Organization, Standing, Power), 4.02 (Seller, PB Energy — Authority, Execution and
Delivery, Enforceability), 4.04 (Shares), 4.05 (Capital Stock of the Company), 4.17 (Taxes), 4.25
(Seller, PB Energy — Brokers, Finders), 5.01 (Purchaser — Organization, Standing, Power), 5.02
(Purchaser — Authority, Execution and Delivery, Enforceability), 5.07 (Purchaser — Brokers,
Finders), 6.10 (Tax Matters), 6.11 (Agreement Not to Compete), 10.13(b) (Purchaser Parent -
Organization and Power) and 10.13(c) (Purchaser Parent — Authority, Execution and Delivery,
Enforceability) or

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(y) Sections 4.12(e) (Intellectual Property Infringement) and 4.18 (Proceedings)which shall be
governed by, and subject to separate limitations of liability under, Section 9.07(b) below.

     (b) In no event shall Seller and PB Energy be required to indemnify any Purchaser Indemnitee,
and neither Seller nor PB Energy shall have any liability:

     (i) under Sections 9.02(a), 9.02(b), 9.03(a), and 9.03(b) (in each case solely
with respect to any breach of Section 4.12(e) or 4.18) unless the aggregate of all
Losses (excluding all reasonable legal costs incurred by Purchaser Indemnitees in
connection therewith) for which Seller and PB Energy, would, but for this clause
(i), be liable exceeds on a cumulative basis an amount equal to U.S.$500,000, in
which case Purchaser shall be entitled to indemnification for such Losses in excess
thereof; provided, however, that, subject to (iii) below, Purchaser
shall be entitled to indemnification for all reasonable legal costs related to
breaches of Section 4.12(e) and 4.18 notwithstanding that Purchaser’s losses do not
exceed U.S$500,000 in accordance with the terms of Section 9.02(a);

     (ii) under Sections 9.02(a), 9.02(b), 9.03(a), and 9.03(b) (in each case solely
with respect to any breach of Section 4.12(e) or 4.18) for any individual items
where the Loss relating thereto is less than U.S.$15,000 and such items shall not be
aggregated for purposes of Section 9.07(b)(i) above;

     (iii) under Sections 9.02(a), 9.02(b), 9.03(a), and 9.03(b) (in each case
solely with respect to any breach of Section 4.12(e) or 4.18) in excess of
U.S.$22,756,810 plus an amount equal to fifty percent (50%) of all reasonable legal
costs incurred by Purchaser Indemnitees in connection with the Losses for which
Seller and PB Energy are liable.

     (c) Subject to the other provisions of this Article IX, in the event that any Purchaser
Indemnitee sustains or incurs any Loss for which indemnification is available under Section
9.02(a), 9.02(b), 9.03(a), or 9.03(b) prior to the date that is one (1) year following the Closing
Date (the “Expiration Date”), the sole and exclusive remedy of such Purchaser Indemnitee
shall be a claim against the Indemnity Escrow in accordance with the terms and conditions of the
Escrow Agreement. In the event that any Purchaser Indemnitee sustains or incurs any Loss for which
indemnification is available under Section 9.02(a), 9.02(b), 9.03(a), or 9.03(b) following the
Expiration Date for a matter that is indemnifiable after the Expiration Date in accordance with
this Article IX, such Purchaser Indemnitee may proceed against Seller and PB Energy in accordance
with the terms of this Article IX.

     (d) Each of Seller, PB Energy, the Company and Purchaser acknowledges that its sole and
exclusive monetary remedy after the Closing with respect to any and all claims relating to this
Agreement, the transactions contemplated hereby and breaches of representations and warranties
under the Ancillary Agreements shall be pursuant to the indemnification provisions set forth in
this Article IX. In furtherance of the foregoing, each of Seller, PB Energy, Purchaser and the
Company hereby waives, from and after the Closing, to the fullest extent permitted under applicable
Law, any and all rights, claims and causes of action it may have against Purchaser or the Company,
or Seller or PB Energy, as applicable arising under or based

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upon this Agreement, any Ancillary Agreement (solely with respect to breaches of
representations and warranties under such Ancillary Agreement), any document or certificate
delivered in connection herewith, any applicable Law or otherwise, except pursuant to the
indemnification provisions set forth in this Article IX.

     Section 9.08 Procedures for Third-Party Claims. (a) In order for a Person (the
“Indemnified Party”) to be entitled to any indemnification provided for under Sections
9.02, 9.03, or 9.04 in respect of, arising out of or involving a claim made by any Person against
the Indemnified Party (a “Third-Party Claim”), such Indemnified Party must notify the
indemnifying party in writing (and in reasonable detail) of the Third-Party Claim within ten (10)
Business Days after receipt by such Indemnified Party of written notice of the Third-Party Claim;
provided, however, that failure to give such notification shall not affect the
indemnification provided hereunder except to the extent the indemnifying party shall have been
actually and materially prejudiced as a result of such failure (except that the indemnifying party
shall not be liable for any expenses incurred during the period in which the Indemnified Party
failed to give such notice). Thereafter, the Indemnified Party shall deliver to the indemnifying
party, within five (5) Business Days’ time after the Indemnified Party’s receipt thereof, copies of
all notices and documents (including court papers) received by the Indemnified Party relating to
the Third-Party Claim.

     (b) If a Third-Party Claim is made against an Indemnified Party, the indemnifying party shall
be entitled to participate in the defense thereof and, if it so chooses, to assume the defense
thereof with counsel selected by the indemnifying party; provided, however, that
such counsel is not reasonably objected to by the Indemnified Party. Should the indemnifying party
so elect to assume the defense of a Third-Party Claim, the indemnifying party shall not be liable
to the Indemnified Party for any legal expenses subsequently incurred by the Indemnified Party in
connection with the defense thereof. If the indemnifying party assumes such defense, the
Indemnified Party shall have the right to participate in the defense thereof and to employ counsel
(not reasonably objected to by the indemnifying party), at its own expense, separate from the
counsel employed by the indemnifying party, it being understood that the indemnifying party shall
control such defense. The indemnifying party shall be liable for the fees and expenses of counsel
employed by the Indemnified Party for any period during which the indemnifying party has not
assumed the defense thereof (other than during any period in which the Indemnified Party shall have
failed to give notice of the Third-Party Claim as provided above).

     (c) At the request of an Indemnified Party, the indemnifying party shall defend or prosecute a
Third-Party Claim. In such case, all the Indemnified Parties shall cooperate in the defense or
prosecution thereof. Such cooperation shall include the retention and (upon the indemnifying
party’s request) the provision to the indemnifying party of records and information that are
reasonably relevant to such Third-Party Claim, and making employees available on a mutually
convenient basis to provide additional information and explanation of any material provided
hereunder. Whether or not the indemnifying party assumes the defense of a Third-Party Claim, the
Indemnified Party shall not admit any liability with respect to, or settle, compromise or
discharge, such Third-Party Claim without the indemnifying party’s prior written consent (which
consent shall not be unreasonably withheld). If the indemnifying party assumes the defense of a
Third-Party Claim, the Indemnified Party shall agree to any settlement,

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compromise or discharge of a Third-Party Claim that the indemnifying party may recommend and
that, by its terms, obligates the indemnifying party to pay the full amount of the liability in
connection with such Third-Party Claim, which releases the Indemnified Party completely in
connection with such Third-Party Claim.

     Section 9.09 Procedures for Other Claims. In the event any Indemnified Party should
have a claim against any indemnifying party under Section 9.02, 9.03 or 9.04 that does not involve
a Third-Party Claim being asserted against or sought to be collected from such Indemnified Party,
the Indemnified Party shall deliver notice of such claim with reasonable promptness to the
indemnifying party. Subject to Sections 9.05 and 9.10, the failure by any Indemnified Party so to
notify the indemnifying party shall not relieve the indemnifying party from any liability that it
may have to such Indemnified Party under Section 9.02, 9.03 or 9.04, except to the extent that the
indemnifying party demonstrates that it has been prejudiced by such failure. If the indemnifying
party does not notify the Indemnified Party within forty-five (45) calendar days following its
receipt of such notice that the indemnifying party disputes its liability to the Indemnified Party
under Section 9.02, 9.03 or 9.04, such claim specified by the Indemnified Party in such notice
shall be conclusively deemed a liability of the indemnifying party under Section 9.02, 9.03 or 9.04
and the indemnifying party shall pay the amount of such liability to the Indemnified Party on
demand or, in the case of any notice in which the amount of the claim (or any portion thereof) is
estimated, on such later date when the amount of such claim (or such portion thereof) becomes
finally determined.

     Section 9.10 Mitigation. The Parties shall cooperate with each other with respect to
resolving any claim or liability with respect to which one Party is obligated to indemnify the
other Party hereunder, including by making commercially reasonably efforts to mitigate or resolve
any such claim or liability; provided, however, that such Party shall not be
required to make such efforts if they would be detrimental in any material respect to such Party.
In the event that Purchaser, or Seller or PB Energy, as the case may be, shall fail to make such
commercially reasonably efforts to mitigate or resolve any claim or liability, then (unless the
proviso to the foregoing sentence shall be applicable) notwithstanding anything else to the
contrary contained herein, the other Party shall not be required to indemnify any Person for any
loss, liability, claim, damage or expense that could reasonably be expected to have been avoided if
Purchaser, or Seller and PB Energy, as the case may be, had made such efforts.

     Section 9.11 Survival of Representations, Warranties and Covenants. All
representations and warranties contained in this Agreement shall survive the Closing for purposes
of this Article IX for a period of one (1) year following the Closing, other than representations
and warranties contained in (i) Sections 4.01, 4.02, 4.04, 4.05, 4.25, 5.01, 5.02 and 5.07, which
shall survive indefinitely; (ii) the representations and warranties in Section 4.17, which shall
survive until ninety (90) days after the expiration of the statutes of limitations applicable to
matters contained therein and (iii) the representations and warranties in Sections 4.12(e) and
4.18, which shall survive for a period of four (4) years following the Closing. The covenants in
Sections 6.01, 6.02, and 6.03 shall not survive the Closing; all other covenants or other
agreements herein shall survive the Closing indefinitely or for such lesser period of time as may
be specified therein.

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     Section 9.12 No Additional Representations. Purchaser acknowledges and agrees
that other than the representations and warranties of Seller, PB Energy and the Company
specifically contained in this Agreement, there are no representations or warranties of Seller, PB
Energy or the Company either expressed or implied with respect to the transactions contemplated
hereby, the Business, the Company or their respective assets, liabilities and business.

ARTICLE X

General Provisions

     Section 10.01 Assignment. This Agreement and the rights and obligations hereunder
shall not be assignable or transferable by Purchaser, Seller, PB Energy or the Company (including
by operation of law in connection with a merger, or sale of substantially all the assets, of
Purchaser, Seller, PB Energy or the Company) without the prior written consent of the other Parties
hereto; provided, however, that Purchaser may assign its right to purchase the
Shares hereunder to a wholly-owned subsidiary of Purchaser without the prior written consent of
Seller, PB Energy and the Company; provided further, however, that no
assignment shall limit or affect the assignor’s obligations hereunder. Any attempted assignment in
violation of this Section 10.01 shall be void.

     Section 10.02 No Third-Party Beneficiaries. Except as provided in Article IX, this
Agreement is for the sole benefit of the Parties hereto and their permitted assigns and nothing
herein expressed or implied shall give or be construed to give to any Person, other than the
Parties hereto and such assigns, any legal or equitable rights hereunder.

     Section 10.03 Attorney Fees. A Party in breach of this Agreement shall, on demand,
indemnify and hold harmless the other Party for and against all reasonable out-of-pocket expenses,
including legal fees, incurred by such other Party by reason of the enforcement and protection of
its rights under this Agreement. The payment of such expenses is in addition to any other relief
to which such other Party may be entitled.

     Section 10.04 Notices. All notices and other communications required or permitted to
be given hereunder shall be in writing and shall be deemed to have been duly given (a) five (5)
Business Days following sending by registered or certified mail, postage prepaid, (b) when
delivered, if delivered personally to the intended recipient and (c) one (1) Business Day following
sending by overnight delivery via a national courier service and, in each case, addressed to a
Party at the following address for such Party

	 	(i)	 	if to Purchaser,

Telvent Traffic North America, Inc.

7000A Hollister Road

Houston, TX 77040

Attention: Thomas Christopher, Vice President

Facsimile: 713-939-7424

and

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Telvent GIT, S.A.

Valgrande 6

Alcobendas, Madrid

Spain 28108

Attention: José Ignacio del Barrio

Facsimile: 34-917-14-70-03

     with a copy to:

Squire, Sanders & Dempsey L.L.P.

4900 Key Tower, 127 Public Square

Cleveland, OH 44114

Attention: Laura D. Nemeth, Esq.

Facsimile: 216-479-8780; and

	 	(ii)	 	if to Seller or PB Energy,

c/o Parsons Brinckerhoff Quade & Douglas, Inc.

One Penn Plaza

New York, NY 10119

Attention: George J. Pierson, Esq.

Facsimile: 212-465-5343

and

c/o Parsons Brinckerhoff Quade & Douglas, Inc.

One Penn Plaza

New York, NY 10119

Attention: Richard A. Schrader, EVP, CFO

Facsimile: 212-465-5757

     with a copy to:

McDermott Will & Emery LLP

340 Madison Avenue

New York, NY 10017

Attention: Paul J. Kim, Esq.

Facsimile: 212-547-5444

     Section 10.05 Interpretation; Exhibits and Schedules.

     Whenever the context may require, any pronoun shall include the corresponding masculine,
feminine and neuter forms.

     (a) The words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation.” The word “or” shall not be deemed exclusive unless the context
requires otherwise.

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     (b) The words “hereof,” “herein” and “hereunder” and words of similar import when used in any
agreement or instrument shall refer to such agreement or instrument as a whole and not to any
particular provision of such agreement or instrument.

     (c) The headings contained in this Agreement, in any Exhibit or Schedule hereto and in the
table of contents to this Agreement are for reference purposes only and shall not affect in any way
the meaning or interpretation of this Agreement. Any matter set forth in any provision,
subprovision, section or subsection of any Schedule shall, unless the context otherwise manifestly
requires, be deemed set forth for all purposes of the Schedules. All Exhibits and Schedules
annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement
as if set forth in full herein. Any capitalized terms used in any Schedule or Exhibit but not
otherwise defined therein, shall have the meaning as defined in this Agreement. When a reference
is made in this Agreement to a Section, Exhibit or Schedule, such reference shall be to a Section
of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated.

     Section 10.06 Knowledge. The words “knowledge of Seller,” “knowledge of PB Energy”
and “knowledge of the Company” mean receipt of notice by, or actual knowledge, after reasonable
inquiry, of the individuals set forth on Schedule 10.06(a). The words “knowledge of
Purchaser” mean receipt of notice by, or actual knowledge, of the individuals set forth on
Schedule 10.06(b).

     Section 10.07 Counterparts. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more such counterparts have been signed by each of the Parties hereto and
delivered to the other Parties hereto.

     Section 10.08 Entire Agreement. This Agreement, the Ancillary Agreements and the
Confidentiality Agreement, along with the Schedules and Exhibits thereto, contain the entire
agreement and understanding among the Parties hereto with respect to the subject matter hereof and
supersede all prior agreements and understandings relating to such subject matter. None of the
Parties shall be liable or bound to any other Party in any manner by any representations,
warranties or covenants relating to such subject matter except as specifically set forth herein or
in the Ancillary Agreements or the Confidentiality Agreement.

     Section 10.09 Amendments and Waivers. This Agreement may not be amended except by an
instrument in writing signed on behalf of each of the Parties hereto. By an instrument in writing
Purchaser, on the one hand, or Seller, on the other hand, may waive compliance by the other with
any term or provision of this Agreement that such other Party was or is obligated to comply with or
perform.

     Section 10.10 Severability. If any provision of this Agreement (or any portion
thereof) or the application of any such provision (or any portion thereof) to any Person or
circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent
jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision
hereof (or the remaining portion thereof) or the application of such provision to any other Persons
or circumstances.

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     Section 10.11 Governing Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of Delaware applicable to agreements made and to be
performed entirely within such State, without regard to the conflicts of law principles of such
State.

     Section 10.12 Dispute Resolution. Except for the resolution of matters as addressed
by Sections 3.03 and 6.11 (which shall be resolved in accordance with the procedures set forth in
those sections), all other disputes arising out of or relating to this Agreement or an Ancillary
Agreement or the breach, termination or validity thereof or the Parties’ performance hereunder or
thereunder (“Dispute”) shall be resolved as provided by this Section 10.12.

     (a) Negotiation of Disputes.

     (i) Any Party shall give the other Party written notice of any Dispute. The
Parties shall attempt to resolve such Dispute promptly by negotiation between
executive officers who have authority to settle the Dispute and who are at a higher
level of management than the persons with direct responsibilities for administration
of this Agreement.

     (ii) Within fifteen (15) days after delivery of the notice, the Party receiving
the notice shall submit to the other a written response. The notice and the
response shall include: (A) a statement of each Party’s position and a summary of
arguments supporting that position, and (B) the name and title of the executive
officer who will represent that Party and of any other person who will accompany the
executive officer during the negotiations. Within thirty (30) days after delivery
of the disputing Party’s notice, the executive officers of both Parties shall meet
at a mutually acceptable time and place, and thereafter as often as they reasonably
deem necessary, to attempt to resolve the Dispute.

     (b) Arbitration. If any such Dispute has not been resolved by the Parties in
accordance with Section 10.12(a) within forty-five (45) days of the disputing Party’s request
notice, or if the Parties failed to meet within thirty (30) days of such request notice, then each
of the Parties agrees that such Dispute shall be finally and exclusively settled without appeal by
arbitration in New York, New York administered by the American Arbitration Association
(“AAA”) under its Commercial Arbitration Rules in effect as of the date of the request for
arbitration, which rules are deemed to be incorporated into this Section 10.12; provided,
however, that in the event of any conflict between such rules and the other provisions of
this Agreement, such other provisions of this Agreement shall control. The arbitration shall be
conducted before a panel of three (3) arbitrators. Each Party shall appoint one (1) arbitrator
within thirty (30) days of receiving notice of the request for arbitration in accordance with the
Rules of Arbitration of the AAA. The two Party-appointed arbitrators shall then attempt to appoint
a third arbitrator who shall act as the chairman of the panel (the “Chairman”) within
twenty (20) days of the appointment of the second arbitrator. If the Party-appointed arbitrators
fail to agree on the Chairman within such period, the Chairman shall be appointed by the AAA upon
the written request of either Party. The decision of the arbitrators shall be by majority vote,
shall be in writing, shall set forth the facts found by the arbitrators to exist, their decision
and the basis for that decision and shall be final and binding upon the Parties and not subject to
appeal.

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Judgment upon any award rendered by the arbitrators may be entered in any court having
jurisdiction thereof, including any court having jurisdiction over any of the Parties or their
assets. Except to the extent permitted by the express terms of this Agreement, the arbitral panel
shall not have the authority to award any consequential, punitive, special, exemplary or incidental
damages. The arbitrators shall award the costs and expenses of the arbitration, including
reasonable attorneys’ fees, disbursements, arbitration expense, arbitrators’ fees and the
administrative fee of the AAA, to the prevailing Party as shall be determined by the arbitrators.

     Section 10.13 Purchaser Parent Guarantee. (a) Purchaser Parent hereby
unconditionally guarantees to Seller and PB Energy the prompt performance of all of Purchaser’s
and, on or after the Closing, the Company’s payment and other obligations (including the payment of
any indemnification obligations) hereunder and payment of all amounts or performance of all
obligations that Purchaser or, on or after the Closing, the Company, as the case may be, may be
obligated to pay or perform in connection with any of the terms of this Agreement or any Ancillary
Agreement.

     (b) Purchaser Parent hereby represents and warrants to Seller, PB Energy and the Company that
it is duly organized and validly existing under the laws of the jurisdiction in which it is
organized and has full company power and authority necessary to enable it to own, lease or
otherwise hold its properties and assets and to carry on its business as presently conducted.

     (c) Purchaser has full company power and authority to execute this Agreement and to consummate
the transactions contemplated hereby. The execution and delivery by Purchaser Parent of this
Agreement and the consummation by Purchaser of the transactions contemplated hereby have been duly
authorized by all necessary company action. Purchaser Parent has duly executed and delivered this
Agreement, and this Agreement constitutes its legal, valid and binding obligation, enforceable
against it in accordance with its terms (subject, as to enforcement, to applicable bankruptcy,
insolvency, moratorium, reorganization or similar Laws affecting creditors’ rights generally and to
general equitable principles).

     Section 10.14 PB Energy’s Representative. PB Energy hereby appoints Seller as the
sole representative of PB Energy to act as the agent and on behalf of PB Energy for the following
purposes under this Agreement: (i) designating the bank account to which the Purchase Price shall
be delivered pursuant to Section 3.02(b)(i); (ii) preparation of the Statement; (iii) determining
the adjusted Purchase Price pursuant to Section 3.03 and remitting any funds as provided in Section
3.03(e); and (iv) determining whether the conditions to Closing in Sections 7.01 and 7.03 have been
satisfied and supervising the Closing, including waiving any such conditions to Closing if Seller,
in its sole discretion, determines that such waiver is appropriate.

     Section 10.15 Waiver of Right of First Refusal. The Company hereby irrevocably waives
its right of first refusal, as set forth in its articles of incorporation, to purchase the Shares
in connection with the transactions contemplated by this Agreement.

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     IN WITNESS WHEREOF, Seller, PB Energy, the Company and Purchaser have duly executed this
Agreement as of the date first written above.

	 	 	 	 	 
	 	PARSONS BRINCKERHOFF QUADE & DOUGLAS, INC.

 	 
	 	By:  	/s/ Richard Schrader
 	 
	 	 	Name:  	Richard Schrader 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	PB FARRADYNE, INC. 	 
	 	 	 
	 	By:  	                     /s/ George Pierson
 	 
	 	 	Name:  	George Pierson 	 
	 	 	Title:  	Secretary 	 
	 
	 	PB ENERGY STORAGE SERVICES, INC.

 	 
	 	By:  	/s/ George Pierson
 	 
	 	 	Name:  	George Pierson 	 
	 	 	Title:  	Secretary 	 
	 
	 	TELVENT TRAFFIC NORTH AMERICA, INC. 	 
	 	 	 
	 	By:  	                   /s/ José M. Flores
 	 
	 	 	Name:  	José M. Flores 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	TELVENT GIT, S.A. (with respect to Article X only)

 	 
	 	By:  	/s/ José I. Del Barrio
 	 
	 	 	Name:  	José I. Del Barrio 	 
	 	 	Title:  	Exec. V.P. Business Development and Head of IR 	 
	 

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