Document:

Preferred Stock Purchase Agreement

 Exhibit 10.1 
 PREFERRED STOCK PURCHASE AGREEMENT 
 dated as of June 2, 2008 
 by and between 
 GLOBAL BPO SERVICES
CORP. 
 and 
 THE
PURCHASER SIGNATORY HERETO 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE 1
	  	 DEFINITIONS
	  	1
	 1.1
	  	 Definitions
	  	1
			
	 ARTICLE 2
	  	 PURCHASE AND SALE
	  	5
	 2.1
	  	 Closing
	  	5
	 2.2
	  	 Closing Deliveries.
	  	5
			
	 ARTICLE 3
	  	 REPRESENTATIONS AND WARRANTIES
	  	6
	 3.1
	  	 Representations and Warranties of the Company
	  	6
	 3.2
	  	 Representations and Warranties of the Purchaser
	  	15
			
	 ARTICLE 4
	  	 OTHER AGREEMENTS OF THE PARTIES
	  	16
	 4.1
	  	 Stockholder’s Agreement and Transfer Restrictions.
	  	16
	 4.2
	  	 Furnishing of Information
	  	17
	 4.3
	  	 Reservation and Listing of Securities.
	  	18
	 4.4
	  	 Use of Proceeds
	  	18
	 4.5
	  	 Exclusivity
	  	18
	 4.6
	  	 Indemnification.
	  	18
	 4.7
	  	 Approvals; Further Assurances; Taking of Actions.
	  	19
	 4.8
	  	 HSR Filing
	  	20
	 4.9
	  	 Public Announcements
	  	20
	 4.10
	  	 Negative Covenants
	  	21
	 4.11
	  	 Trust Fund Waiver
	  	22
	 4.12
	  	 Securities Law Compliance
	  	23
	 4.13
	  	 Notification of Certain Matters
	  	23
	 4.14
	  	 Disclosure of Transactions and Other Material Information
	  	24
	 4.15
	  	 Access
	  	24
	 4.16
	  	 Founder Warrants Subscription Agreement
	  	24
			
	 ARTICLE 5
	  	 CONDITIONS
	  	24
	 5.1
	  	 Conditions Precedent to the Obligations of the Purchaser at the Closing
	  	24
	 5.2
	  	 Conditions Precedent to the Obligations of the Company
	  	27
			
	 ARTICLE 6
	  	 MISCELLANEOUS
	  	27
	 6.1
	  	 Termination.
	  	27
	 6.2
	  	 Fees and Expenses
	  	28
	 6.3
	  	 Entire Agreement
	  	28
	 6.4
	  	 Notices
	  	28
	 6.5
	  	 Amendments; Waivers
	  	29
	 6.6
	  	 Construction
	  	30
	 6.7
	  	 Successors and Assigns
	  	30
	 6.8
	  	 Non-Recourse
	  	30

  

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	 6.9
	  	 No Third-Party Beneficiaries
	  	30
	 6.10
	  	 Governing Law; Venue; Waiver of Jury Trial
	  	30
	 6.11
	  	 Survival
	  	31
	 6.12
	  	 Execution
	  	31
	 6.13
	  	 Severability
	  	31
	 6.14
	  	 Rescission and Withdrawal Right
	  	31
	 6.15
	  	 Remedies
	  	32
	 6.16
	  	 Adjustments in Share Numbers and Prices
	  	32
	 6.17
	  	 Tax Treatment of the Preferred Shares
	  	32

  

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 PREFERRED STOCK PURCHASE AGREEMENT 
 This Preferred Stock Purchase Agreement is entered into and dated as of June 2, 2008 (this “Agreement”), by and between Global BPO
Services Corp., a corporation incorporated under the laws of the state of Delaware (the “Company”) and Ares Corporate Opportunities Fund II, L.P. (the “Purchaser”). 
 WHEREAS, subject to the terms and conditions set forth in this Agreement and in accordance with the Securities Act (as defined below) and the rules and
regulations promulgated thereunder, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, certain securities of the Company pursuant to the terms set forth herein. 
 WHEREAS, concurrently with the execution of this Agreement, the Purchaser has entered into a Warrant Purchase Agreement, dated as of the date hereof (the
“Warrant Purchase Agreement”), with certain individuals to purchase 7,500,000 warrants (the “Founder Warrants”) of the Company; 
 WHEREAS, as soon as practicable and legally permissible after the Closing (as defined below), the Company desires to commence a tender offer (the “Tender Offer”) to purchase from its stockholders up
to 20,625,001 of the outstanding shares of common stock, $0.001 par value per share, of the Company, at a price of $8.00 per share. 
 NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings set forth in this
Section 1.1: 
 “$” means U.S. Dollars. 
 “Affiliate” of a Person means any other Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the first Person. Without
limiting the foregoing with respect to the Purchaser, any investment fund or managed account that is managed by the same investment manager as the Purchaser will be deemed to be an Affiliate of the Purchaser. 
 “Business Day” means any day except Saturday, Sunday and any day on which banking institutions in New York City are authorized or
required by law or other governmental action to close. 
 “Certificate of Designations” means the certificate of
designations of the Preferred Stock, in the form of Exhibit A. 

 “Closing” means the closing of the purchase and sale of the Shares pursuant to
Section 2.1. 
 “Commission” means the U.S. Securities and Exchange Commission. 
 “Common Shares” means the shares of common stock of the Company, par value $0.001 per share, and any securities into which such shares
may hereafter be reclassified. 
 “Company Counsel” means Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Company.

 “Convertible Securities” means any stock or securities directly or indirectly convertible into or exercisable or
exchangeable for Common Shares. 
 “Employees” means the employees of the Company and the Subsidiaries. 
 “Employment Laws” means any and all applicable laws, including all statutes, codes, ordinances, decrees, regulations, municipal by-laws,
judicial or arbitral or administrative or ministerial or departmental or regulatory judgments, orders, decisions, rulings or awards, policies, guidelines and general principles of common and civil law and equity, binding on or affecting the Person
referred to in the context in which the word is used and in respect of matters pertaining to employment. 
 “Environmental
Laws” means any federal, state, local or foreign law (including common law), judicial decision, regulation, rule, judgment, order, decree, injunction, permit or governmental restriction or requirement or any agreement with any governmental
authority or other third party, relating to land use or relating to pollution or protection of the environment, human health or safety, or natural resources such as wetlands, flora and fauna, including, without limitation, those relating to the
storage, treatment, handling, transportation, distribution, generation or disposal, or the release of Hazardous Materials. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 “GAAP” means United States generally accepted accounting
principles, as recognized by the American Institute of Certified Public Accountants or the Financial Accounting Standards Board, consistently applied and maintained on a consistent basis for the Company and its Subsidiaries throughout the period
indicated. 
 “Governmental Authority” means any government or political subdivision or any agency, authority, bureau,
central bank, commission, department or instrumentality, or any court, tribunal, grand jury or arbitrator, in each case whether foreign or domestic. 
 “Hazardous Materials” means all pollutants, contaminants, wastes, chemicals, substances or materials, constituents or compounds in any form or of any nature, including landfill gas, asbestos or
asbestos-containing materials, petroleum and petroleum products subject to regulation or which give rise to liability under any Environmental Law. 
  

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 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976. 
 “Intellectual Property” means (a) patents (including all reissues, divisions, continuations, continuations-in-part, re-examinations
and extensions thereof), patent applications, utility models and design rights; (b) unregistered trademarks, trademark registrations, trademark applications, unregistered service marks, service mark registrations and service mark applications;
(c) unregistered copyrights, copyright registrations and copyright applications and renewals in connection therewith, together with all translations, adaptations, derivations and combinations thereof; (d) Internet domain names,
applications and reservations therefor, uniform resource locators and the corresponding Internet sites; (e) any good will associated with any of the foregoing; and (f) all copies and tangible embodiments thereof (in whatever form or
medium), and registrations, applications and renewals for any of the foregoing assets listed above. 
 “knowledge,”
“known,” and words and phrases of similar import, when used with respect to respect to any Person that is not an individual means the knowledge of such Person’s officers, after reasonable inquiry. 
 “Losses” means any and all damages, fines, penalties, deficiencies, liabilities, claims, losses (including loss of value), judgments,
awards, settlements, Taxes, actions, obligations and costs and expenses in connection therewith (including, without limitation, interest, court costs and fees and expenses of attorneys, accountants and other experts, and any other expenses of
litigation or other Proceedings (including costs of investigation, preparation and travel) or of any default or assessment). 
 “Material Adverse Effect” means any circumstance, development, event, condition or occurrence that, individually or in the aggregate, has had or could reasonably be expected to have (i) an adverse effect in any
material respect on the legality, validity or enforceability of any Transaction Document or the Merger Agreement (as defined below), (ii) a material adverse effect on the results of operations, assets, liabilities, business or condition
(financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) an adverse impact in any material respect on the Company’s or any Subsidiary’s ability to perform fully or on a timely basis its obligations
under any Transaction Document or the Merger Agreement. 
 “Material Contract” means any agreement that is or would be
required to be filed as an exhibit to an SEC Report pursuant to Item 601(b)(10) of Regulation S-K of the Commission. 
 “Options” means any rights, warrants or options to, directly or indirectly, subscribe for or purchase Common Shares or Convertible Securities. 
 “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or
subdivision thereof) or other entity of any kind. 
 “PNC Credit Agreement” means that draft credit agreement, dated
March 14, 2008, in the form provided to Purchaser, to be entered into among the Company, Stream, PNC Bank, National Association and the other loan parties signatory thereto. 
  

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 “Preferred Stock” means the Company’s Series A Convertible Preferred Stock, par
value $0.001 per share, which is convertible into Common Shares and is to be issued pursuant to the Certificate of Designations. 
 “Proceeding” means an action, claim, suit, grievance, arbitration, complaint, notice of violation, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition).

 “Purchaser Counsel” means Proskauer Rose LLP. 
 “Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of the Closing Date, by and among the Company
and the Purchaser, substantially in the form of Exhibit B, as the same may be amended, modified or supplemented from time to time. 
 “Related Person” means any Affiliate of the Purchaser and any officer, director, partner, controlling person, employee or agent of the Purchaser or any of its Affiliates. 
 “Securities” means the Shares, Founder Warrants and the Underlying Shares issued or issuable (as applicable) to the Purchaser pursuant
to the Transaction Documents. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Shares” means an aggregate of 150,000 shares of Preferred Stock which are subject to being purchased by the Purchaser pursuant to this
Agreement on the Closing Date, on the terms and conditions set forth herein. 
 “Stockholder’s Agreement” means that
certain Stockholder’s Agreement, dated as of the Closing Date, by and among the Company and the Purchaser, substantially in the form of Exhibit C. 
 “Trading Day” means (a) any day on which the Common Shares are listed or quoted and traded on the Trading Market, or (b) if the Common Shares are not then listed or quoted and traded on the
Trading Market, then any Business Day. 
 “Trading Market” means The American Stock Exchange (“AMEX”) or,
at any time the Common Shares are not listed for trading on AMEX, any other national exchange if the Common Shares are then listed or quoted on such exchange. 
 “Transaction Documents” means this Agreement, the Securities, the Registration Rights Agreement, the Stockholder’s Agreement, the Certificate of Designations, the Management Rights Letter and the
Warrant Purchase Agreement and any other documents or agreements executed in connection with the transactions contemplated hereunder. 
 “Underlying Shares” means the Common Shares issuable upon conversion of the Shares or exercise of the Founder Warrants or in satisfaction of any other obligation or right of the Company to issue Common Shares pursuant to
the Transaction Documents, and in each case, any securities issued or issuable in exchange for or in respect of such securities. 
  

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 “U.S.” means the United States of America. 
 ARTICLE 2 
 PURCHASE AND SALE

 2.1 Closing. Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue and sell
to the Purchaser, and the Purchaser shall purchase from the Company, the Shares for a purchase price of $1,000 per share and an aggregate purchase price of $150,000,000 (the “Purchase Price”). The Closing shall take place at the
offices of Company Counsel, 60 State Street, Boston, MA 02109, at or before 10:00 a.m. Eastern time, after the satisfaction or waiver of all of the conditions set forth in Section 5.1 and Section 5.2 (other than those
conditions that by their nature must be satisfied on the Closing Date), or at such other location or time as the parties may agree (such date on which the Closing occurs being hereinafter referred to as the “Closing Date”).

 2.2 Closing Deliveries. 
 (a) At the Closing, the Company shall deliver or cause to be delivered to the Purchaser the following: 
 (i)
evidence that the Certificate of Designations has been filed and become effective on or prior to the Closing Date with the Secretary of State of the State of Delaware; 
 (ii) the executed legal opinion of Company Counsel, in the form attached hereto as Exhibit D; 
 (iii) a certificate dated as of the Closing Date and signed by the chief executive officer of the Company certifying as to the fulfillment
of each of the conditions set forth in Section 5.1; 
 (iv) a certificate, executed by the Secretary of the
Company and dated as of the Closing Date, certifying as to (i) the resolutions adopted by the Company’s Board of Directors in a form reasonably acceptable to such Purchaser, (ii) the Certificate of Incorporation and (iii) the
Bylaws, each as in effect at the Closing. 
 (v) the Stockholder’s Agreement in the form of Exhibit C, duly
executed by the Company; 
 (vi) the Registration Rights Agreement in the form of Exhibit B, duly executed by the
Company and the other entities and individuals listed on the signature pages thereto; 
 (vii) certificates representing the
number of the Shares, registered in the name of the Purchaser or its designee; 
  

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 (viii) a letter relating to certain management rights in the form of Exhibit E,
duly executed by the Company; and 
 (ix) any other document reasonably requested by the Purchaser or Purchaser Counsel.

 (b) At the Closing, the Purchaser shall deliver or cause to be delivered to the Company the following: (i) the Purchase Price, in
U.S. Dollars and in immediately available funds, by wire transfer to an account designated in writing by the Company for such purpose; and (ii) each Transaction Document to which the Purchaser is a signatory, duly executed by the Purchaser.

 ARTICLE 3 
 REPRESENTATIONS
AND WARRANTIES 
 3.1 Representations and Warranties of the Company. The Company represents and warrants to the Purchaser that,
except as set forth in (i) the Section or subsection of the Disclosure Schedule delivered by the Company to the Purchaser contemporaneously with the execution and delivery of this Agreement corresponding to the Sections or subsections of this
Article 3; and (ii) the reports filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, since July 10, 2007 (the foregoing materials being collectively referred to herein as the
“SEC Reports”, as of the date hereof and as of the Closing Date, that the statements contained in this Section 3.1 are true and correct. The Disclosure Schedule shall be arranged in sections and subsections corresponding
to the numbered and lettered sections and subsections contained in this Section 3.1, and shall qualify (1) the corresponding paragraph in this Section 3.1 and (2) the other paragraphs in this Section 3.1
only to the extent that it is reasonably apparent from a reading of such disclosure that it also qualifies or applies to such other paragraphs. 
 (a) Subsidiaries. The Company does not directly or indirectly control or own any interest in any other corporation, partnership, joint venture or other business association or entity, other than Global BPO Security Corporation and
River Acquisition Subsidiary Corp. (the “Subsidiaries”). The Company owns, directly or indirectly, all of the capital stock of the Subsidiaries free and clear of any lien, charge, claim, security interest, encumbrance, right of
first refusal or other restriction (collectively, “Liens”), other than restrictions on transfer arising under U.S. federal or state securities laws and regulations. All the issued and outstanding shares of capital stock of the
Subsidiaries are validly issued and fully paid, non-assessable and free of preemptive and similar rights. For purposes of clarity, Stream Holdings Corporation (“Stream”) and its subsidiaries shall not be considered
“Subsidiaries” for purposes of this Agreement. 
 (b) Organization and Qualification. Each of the Company and the
Subsidiaries is an entity duly incorporated, validly existing and in good standing under the laws of the jurisdiction of its incorporation, with the requisite power and authority to own and use its properties and assets and to carry on its business
as currently conducted or contemplated to be conducted, except in the case of Subsidiaries where the failure to be in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each 

  

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of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation in each jurisdiction in which the
nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. 
 (c) Authorization; Enforcement. The Company has the requisite power and authority to enter into and
to consummate the transactions contemplated by the Transaction Documents (the “Transactions”) and otherwise to carry out its obligations hereunder and under the Transaction Documents. The execution and delivery of each of the
Transaction Documents to which it is a party by the Company and the consummation of the Transactions have been duly authorized by all necessary action on the part of the Company and no further consent or action is required by the Company, its board
of directors or its stockholders other than the Required Approvals (as defined below). Each Transaction Document to which the Company is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in
accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms. 
 (d) No Conflicts. The execution, delivery and performance of the Transaction Documents to which the Company is a party by the Company and the consummation of the Transactions do not and will not
(i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an
event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any Material Contract, or
(iii) assuming that the Required Approvals (as defined below) are obtained, result in a violation of any law, rule, regulation, order (including federal and state securities laws and regulations) or the rules and regulations of any
self-regulatory organization to which the Company or its securities are subject, or by which any property or asset of the Company or any Subsidiary is bound or affected (collectively, “Laws”), or any judgment, injunction, decree or
other restriction of any court or governmental authority to which the Company or any Subsidiary is subject. 
 (e) Filings, Consents and
Approvals. Neither the Company nor any Subsidiary is required to obtain any material consent, waiver, authorization or order of, or make any filing or registration with, any Governmental Authority or other Person in connection with the execution
or delivery by the Company of the Transaction Documents to which it is a party or the consummation of the Transactions, other than (i) the required filing of the Certificate of Designations contemplated by Section 2.2(a)(i),
(ii) the filing with the Commission of any registration statement pursuant to the Registration Rights Agreement, (iii) the approval from the Trading Market for the listing of the Underlying Shares for trading thereon, (iv) the filing
following the Closing Date of a Form D with the Commission and compliance with the securities and blue sky laws in the states in which the Shares and the Underlying Shares, are offered and sold, if any, (v) the filing of a Schedule TO, and
other related filings, with the Commission with respect to the Tender Offer (as earlier defined), (vi) an appropriate filing of a Notification and Report Form pursuant to the HSR Act, (vii) the filing of a proxy statement and other
soliciting materials with the Commission in connection with seeking stockholder approval for the sale and 

  

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issuance of the Shares and the acquisition of Stream pursuant to this Agreement and the Merger Agreement (as defined in Section 3.1(z)) and
(viii) the approval of the shareholders of the Company for the issuance of the Shares and the terms thereof (collectively, the “Required Approvals”). 
 (f) Issuance of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the Transaction Documents,
will be validly issued, fully paid and nonassessable, free and clear of all Liens and shall not be subject to preemptive rights or similar rights of stockholders. The Company has reserved from its duly authorized capital stock a number of Common
Shares for issuance upon the conversion of the Shares and exercise of the Founder Warrants not less than the total number of Underlying Shares. Neither the issuance of the Shares to the Purchaser or the issuance of the Underlying Shares upon
conversion of the Shares and exercise of the Founder Warrants will subject the Purchaser to any liability or obligation of any kind in respect of or relating to the operation of the business of the Company. 
 (g) Capitalization. 
 (i) The authorized capital stock of the Company consists of (a) 119,000,000 shares of common stock, par value $0.001 per share, 31,250,000 of which shares were issued in the initial public offering of the Company (the
“IPO”) and are outstanding and 7,812,500 shares of which were issued to certain officers, directors and Affiliates of the Company and are outstanding, and (b) 1,000,000 shares of preferred stock $0.001 par value, none of which
are outstanding. All issued and outstanding shares of the capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable, and no class of capital stock is entitled to (or has been issued in violation of) preemptive
rights. As of the date hereof, there are (i) warrants with an exercise price of $6.00 per share to purchase up to 31,250,000 Common Shares (the “IPO Warrants”) issued in the IPO; (ii) Options to purchase 1,562,500 units
with an exercise price of $9.60 per unit (except that the exercise price of the warrants underlying such units equals $7.20 per share Common Share) (the “Underwriter Options”); and (iii) 7,500,000 outstanding Founder Warrants
with an exercise price of $6.00 per share to purchase up to 7,500,000 shares of the Common Shares issued to certain officers, directors and Affiliates of the Company (together with the IPO Warrants, the “Company Warrants”). Except
as described in this Section 3.1(g), there are no other issued or outstanding shares of capital stock as of the date hereof or Options to acquire capital stock or securities convertible or exchangeable into shares of capital stock of the
Company. All outstanding shares of Common Shares, all of the outstanding Company Warrants, and all of the Underwriter Options have been issued and granted in compliance with (x) all applicable securities laws and, in all material respects,
other applicable Laws and (y) all requirements set forth in any applicable Material Contract. The Company has delivered to the Purchaser complete and correct copies of the Company Warrants and Underwriter Options, including all documents
relating thereto. 
 (ii) Except as set forth in this Section 3.1(g) there are no outstanding (i) shares of
capital stock of or other voting securities or ownership interests in the Company, (ii) securities of the Company convertible into or exchangeable for shares of capital stock or other voting securities or ownership interests in the Company or
(iii)

  

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options or other rights to acquire from the Company, or other obligation of the Company to issue, any capital stock or other voting securities or ownership
interests in or any securities convertible into or exchangeable for capital stock or other voting securities or ownership interests in the Company (the items in clauses (i), (ii) and (iii) being referred to collectively as the
“Company Securities”). There are no outstanding obligations of the Company or any of its Subsidiaries to repurchase, redeem or otherwise acquire any of the Company Securities, except for the repurchase by the Company of Common
Shares in connection with the exercise of dissenters’ conversion rights pursuant to its Certificate of Incorporation. 
 (h) SEC
Reports; Press Releases; Financial Statements. The SEC Reports constitute all reports required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, since
July 10, 2007. The Company has filed each of the SEC Reports on a timely basis. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and
regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules
and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with GAAP and fairly present in all material respects the financial position of the Company and its
Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments which will not be material. The Company has
filed as exhibits to its SEC Reports all Material Contracts to which the Company or any Subsidiary is a party or to which the property or assets of the Company or any Subsidiary are subject that are required to be filed. The Company does not have
pending before the Commission any request for confidential treatment of information. The Company is in compliance with applicable requirements of the Sarbanes-Oxley Act of 2002 and applicable rules and regulations promulgated by the Commission
thereunder in effect as of the date of this Agreement, except where such noncompliance, individually or in the aggregate, has not resulted in, and could not reasonably be expected to result in, a Material Adverse Effect. 
 (i) Taxes. The Company and the Subsidiaries have accurately prepared and timely filed all material federal, state, local and foreign income and
franchise and other Tax returns required to be filed and have paid all Taxes due whether or not shown on such returns, and no Tax deficiency has been determined adversely to the Company or the Subsidiaries. No Tax returns of the Company or any
Subsidiary have been, or are currently being, audited, and to the Company’s knowledge, no Tax deficiency assessment or proposed adjustment against the Company or any Subsidiary is pending. Neither the Company nor any Subsidiary has waived or
extended any statute of limitations at the request of any taxing authority. There are no outstanding Tax sharing agreements or other such arrangements between the Company or any Subsidiary and any other person. Neither the Company nor any of its
Subsidiaries has engaged in a listed transaction, or to the knowledge of the Company, a reportable transaction, each as described in Treasury Regulation Section 1.6011-4. For purposes of this Agreement, “Taxes” 

  

 9 

 
means any and all taxes, fees, levies, duties, tariffs, imposts and other charges of any kind in the nature of taxes (together with any and all interest,
penalties, additions to tax and additional amounts imposed with respect thereto) imposed by any governmental authority or other taxing authority, including: taxes or other charges on or with respect to income, franchise, windfall or other profits,
gross receipts, property, sales, use, payroll, employment, social security, workers’ compensation, unemployment compensation or net worth; taxes or other charges in the nature of excise, withholding, ad valorem, stamp, transfer, value-added or
gains taxes; license, registration and documentation fees; and customer’s duties, tariffs and similar charges. 
 (j) Material
Changes. Since March 31, 2008, except as specifically disclosed in the SEC Reports, there has been no event, occurrence or development that, individually or in the aggregate, has resulted in, or that could reasonably be expected to result
in, a Material Adverse Effect, and neither the Company nor any of its Subsidiaries has (i) altered its method of accounting or the identity of its auditors, (ii) declared or made any dividend or distribution of cash or other property to
its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock, except for the Redemption Agreement (as defined in the Merger Agreement) or (iii) issued any equity securities to any officer,
director or Affiliate. 
 (k) Litigation. There is no Proceeding pending or, to the knowledge of the Company, threatened against or
affecting the Company, any Subsidiary or any of their respective properties which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents, the Transactions or the Securities or
(ii) has, individually or in the aggregate, resulted in, or could reasonably be expected to result in, a Material Adverse Effect. Neither the Company nor any Subsidiary, nor, to the Company’s knowledge, any director or officer thereof (in
his or her capacity as such), is or has been found liable or guilty in any Proceeding involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the
knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company, any Subsidiary or any current or former director or officer thereof (in his or her capacity as such). 
 (l) Labor Relations. The Company and the Subsidiaries (i) are in compliance with all terms and conditions of employment and all Employment
Laws and (ii) have not and are not engaged in any unfair labor practice and no unfair labor practice complaint, or arbitration proceeding is pending or, to the knowledge of the Company, threatened against the Company or any Subsidiary.

 (m) Employee Benefits. 
 (i) Section 3.1(m) of the Disclosure Schedule contains a complete and accurate list of all Company Plans. For purposes of this Section 3.1(m), a “Company Plan” shall mean any
Employee Benefit Plan maintained, or contributed to (including any multiemployer plan, as defined in Section 3(37) of ERISA) by the Company, any Subsidiary or any entity which is, or at any applicable time was, a member of (1) a controlled
group of corporations (as defined in Section 414(b) of the Internal Revenue Code of 1986, as amended (the “Code”)), (2) a group of trades or businesses under 

  

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common control (as defined in Section 414(c) of the Code), or (3) an affiliated service group (as defined under Section 414(m) of the Code or
the regulations under Section 414(o) of the Code), any of which includes or included the Company or any Subsidiary (an “ERISA Affiliate”), except that Company Plan shall not include any plan covering employees of Stream. For
purposes of this Section 3.1(m), “Employee Benefit Plan” shall mean any “employee pension benefit plan” (as defined in Section 3(2) of ERISA), any “employee welfare benefit plan” (as defined in
Section 3(1) of ERISA), and any other written or oral plan, agreement or arrangement involving direct or indirect compensation, including insurance coverage, severance benefits, disability benefits, deferred compensation, bonuses, stock
options, stock purchase, phantom stock, stock appreciation or other forms of incentive compensation or post-retirement compensation. Neither the Company, any Subsidiary, nor any ERISA Affiliate has any liability in respect of post-retirement health,
medical or life insurance benefits for any former or current employees of the Company or its Subsidiaries except as required to avoid excise tax under Section 4980 of the Code. 
 (ii) Each Company Plan has been administered in all material respects in accordance with its terms and each of the Company, the
Subsidiaries and the ERISA Affiliates has in all material respects met its obligations with respect to each Company Plan and has made all required contributions thereto. The Company, each Subsidiary and each Company Plan are in compliance in all
material respects with the currently applicable provisions of ERISA and the Code and the regulations thereunder (including Section 4980 B of the Code, Subtitle K, Chapter 100 of the Code and Sections 601 through 608 and Section 701 et seq.
of ERISA). All filings and reports as to each Company Plan required to have been submitted to the Internal Revenue Service or to the United States Department of Labor have been duly submitted. No Company Plan has assets that include securities
issued by the Company or any ERISA Affiliate. 
 (iii) The consummation by the Company of the transactions contemplated by
this Agreement will not entitle any employee or independent contractor of the Company or any Subsidiary to severance pay, a parachute payment or accelerate the time of payment or vesting or trigger any payment of funding of compensation, benefits,
grants or awards under, increase the amount payable or trigger any other material obligation pursuant to, any Company Plan. 
 (n)
Compliance. Except as has not resulted in, and is not reasonably expected to result in, a Material Adverse Effect (either individually or in the aggregate), to the knowledge of the Company, neither the Company nor any Subsidiary: 

(i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or
both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any Material Contract (and to the knowledge of the
Company no other party is, in default thereunder), which default would give the other party the right to terminate or modify in any material respect such Material Contract or would accelerate any payment or material obligation by the Company or any
Subsidiary; 
  

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 (ii) is in violation of any order of any Governmental Authority; 
 (iii) has violated (nor has any employee of the Company violated) the U.S. Foreign Corrupt Practices Act, as amended; and 
 (iv) no current stockholder, director, officer, employee or agent of the Company or of any Subsidiary has, directly or indirectly, made or
agreed to make on behalf of, or for the benefit of, the Company, any unlawful or illegal (X) payment, (Y) gift or (Z) political contribution to any customer, supplier, governmental employee or other Person who is or may be in a
position to assist or hinder the business of the Company or any Subsidiary. 
 (o) Regulatory Permits. The Company and the
Subsidiaries possess and are in compliance with the terms and conditions of, all certificates, authorizations, approvals and permits necessary for the Company or any such Subsidiary to own, lease and operate its properties or to conduct their
respective businesses as described in the SEC Reports (collectively, “Permits”), except where the failure to posses or comply with a Permit, individually or in the aggregate, has not resulted in, and could not reasonably be expected
to result in, a Material Adverse Effect, and to the Company’s knowledge neither the Company nor any Subsidiary has received any written notice of Proceedings relating to the revocation or modification (wherein such modification would have a
Material Adverse Effect) of any Permit. 
 (p) Patents and Trademarks. The Company and the Subsidiaries own, or possess a valid and
enforceable written license to use, all Intellectual Property that is used or held for use by the Company or its Subsidiaries in connection with their respective businesses as described in the SEC Reports, as currently conducted, except where such
failure to so possess, individually or in the aggregate, has not resulted in, and could not reasonably be expected to result in, a Material Adverse Effect. 
 (q) Insurance. The Company and the Subsidiaries are insured against such losses and risks and in such amounts as are reasonably prudent and customary in the businesses in which the Company and the Subsidiaries
are engaged. Neither the Company nor any Subsidiary has any knowledge or notice that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be
necessary to continue its business on terms consistent with the market for the Company’s and such Subsidiaries’ respective lines of business. All premiums due and payable with respect to the insurance policies maintained by the Company and
the Subsidiaries have been paid to date. 
 (r) Transactions With Affiliates. Except as set forth in the SEC Reports, none of the
officers, directors or stockholders or other Affiliates of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services as officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director, or such Affiliate or, to the knowledge
of the Company, any entity in which any officer, director, or Affiliate has a substantial interest or is an officer, director, trustee or partner. To the knowledge of the 

  

 12 

 
Company, none of the Employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for
services as an Employee, and other than immaterial arrangements inherited in connection with an acquisition by the Company of a business with which that Employee was previously associated), including any contract, agreement or other arrangement
providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any Employee or, to the knowledge of the Company, any entity in which any Employee has a
substantial interest or is an officer, director, trustee or partner. 
 (s) Certain Fees. No brokerage or finder’s fees or
commissions are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions provided for in this Agreement.
Except for the Purchaser’s interest in the Company following the Closing, the Purchaser shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in
this Section that may be due in connection with the transactions contemplated by this Agreement. The Company shall indemnify and hold harmless the Purchaser, its employees, officers, directors, agents, partners and Affiliates, from and against all
claims, Losses, damages, costs (including the costs of preparation and attorney’s fees) and expenses suffered in respect of any such claimed or existing fees, as such fees and expenses are incurred. 
 (t) Private Placement. Neither the Company nor any Person acting on the Company’s behalf has sold or offered to sell or solicited any offer
to buy the Securities by means of any form of general solicitation or advertising. Neither the Company nor any of its Affiliates nor any Person acting on the Company’s behalf has, directly or indirectly, at any time within the past six months,
made any offer or sale of any security or solicitation of any offer to buy any security under circumstances that would (i) eliminate the availability of the exemption from registration under Section 4(2) of the Securities Act or Regulation
D under the Securities Act in connection with the offer and sale of the Securities to the Purchaser as contemplated hereby or (ii) cause the offering of the Securities pursuant to the Transaction Documents to be integrated with prior offerings
by the Company for purposes of any applicable law, regulation or stockholder approval provisions, including without limitation under the rules and regulations of the Trading Market. 
 (u) Listing and Maintenance Requirements. The Common Shares, IPO Warrants and units to purchase one Common Share and one IPO Warrant are listed
and posted for trading on the Trading Market and the Company has not, since October 23, 2007, received notice from the Trading Market to the effect that the Company is not in compliance with the listing or maintenance requirements of such
Trading Market. The Company is in compliance in all material respects with all such listing and maintenance requirements and, after giving effect to the transactions contemplated hereby and by the other Transaction Documents, will remain in
compliance in all material respects with all such listing and maintenance requirements, except where such non-compliance is caused by a reduction in the number of holders of Common Shares as a result of the Tender Offer or the cancellation of Common
Shares upon the exercise of dissenters’ conversion rights pursuant to the Company’s Certificate of Incorporation. 
  

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 (v) Registration Rights. The Company has not granted or agreed to grant to any Person any rights
(including “piggy back” registration rights) to have any securities of the Company registered with the Commission or any other governmental authority that are currently pending and that have not been satisfied. 
 (w) Application of Takeover Protections. The Company and its board of directors have taken all necessary action, if any, in order to render
inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s Certificate of Incorporation (or similar charter
documents) or the laws of its state of incorporation that is or could become applicable to the Purchaser as a result of the Purchaser and the Company fulfilling their respective obligations or exercising their respective rights under the Transaction
Documents, including without limitation the Company’s issuance of the Securities and the Purchaser’s ownership of the Securities. 
 (x) Investment Company. The Company is not, and is not an Affiliate of, an investment company within the meaning of the Investment Company Act of 1940, as amended. 
 (y) Environmental Matters. The Company and the Subsidiaries have complied in all material respects with all applicable Environmental Laws. The
Company and the Subsidiaries have not received any written notice, demand, letter, claim or request for information alleging that the Company or any Subsidiary may be in violation of or liable under any Environmental Law. The Company and the
Subsidiaries are not subject to any orders, decrees, injunctions or other arrangements with any Governmental Authority or subject to any indemnity or other agreement with any third party relating to Liability under any Environmental Law. 

(z) Stream. The Company has entered into an Agreement and Plan of Merger, dated as of January 27, 2008, as amended as of June 2, 2008
(as in effect on the date hereof, the “Merger Agreement”), with River Acquisition Subsidiary Corp., a wholly-owned subsidiary of the Company, and Stream and such Merger Agreement is in full force and effect. The Company has provided
Purchaser with true, complete and correct copies of all exhibits, schedules and/or annexes to the Merger Agreement and of any other agreements that have been entered into in connection with the Merger Agreement. To the knowledge of the Company, the
representations and warranties of Stream in the Merger Agreement are true and correct in all material respects (without giving effect to any qualifications as to materiality therein), Stream is in compliance in all material respects with all
covenants under the Merger Agreement, and there has been no event, circumstance or condition that could result in a default under the Merger Agreement or has given rise to, or could reasonably be expected to give rise to, a right of termination by
the Company under the Merger Agreement. The representations and warranties of the Company in the Merger Agreement are true and correct in all material respects (without giving effect to any qualifications as to materiality therein), the Company is
in compliance in all material respects with all covenants under the Merger Agreement, and there has been no event, circumstance or condition that could result in a default under the Merger Agreement or has given rise to, or could reasonably be
expected to give rise to, a right of termination by Stream under the Merger Agreement. The acquisition of Stream pursuant to the Merger Agreement will, if consummated in accordance with the terms of the Merger Agreement, satisfy the requirements for
the consummation of, and will constitute, a Business Combination (as defined in the Company’s Second Amended and Restated Certificate of Incorporation). 
  

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 (aa) Manipulation of Price. The Company has not and to its knowledge no one acting on its behalf
has, directly or indirectly, (i) taken any action designed to or that has constituted or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company in connection with
the offering of the Shares, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Shares, or (iii) paid or agreed to pay to any person any compensation for soliciting another to purchase any other
securities of the Company. 
 (bb) Trust Fund. As of the date hereof and at the Closing Date, the Company has or its Subsidiaries have
and will have at least $245,000,000 (the “Trust Fund”), invested in U.S. government securities or in money market funds in a trust account at Banc of America LLC (the “Trust Account”), held in trust by Continental
Stock Transfer & Trust Company (the “Trustee”) pursuant to the Investment Management Trust Agreement between the Company and the Trustee (the “Trust Agreement”). Upon consummation of the merger pursuant to
the Merger Agreement and notice thereof to the Trustee, the Trust Account will terminate and the Trustee shall thereupon be obligated to release as promptly as practicable to the Company, its Subsidiaries or designees the Trust Fund held in the
Trust Account , which Trust Fund will be (i) free of any Lien, proceeding or order whatsoever, after taking into account (A) the Conversion Payments (as defined in the Merger Agreement), (B) the deferred underwriters discount of up to
$7,500,000 and any accrued and unpaid expenses and (ii) an amount at least equal to the purchase price payable under the Merger Agreement. Effective as of the Closing, the obligations of the Company to dissolve or liquidate within the specified
time period contained in the Company’s certificate of incorporation will terminate, and effective as of the Closing the Company shall have no obligation whatsoever to dissolve and liquidate the assets of the Company by reason of the
consummation of the merger contemplated by the Merger Agreement or the transactions contemplated thereby. Following the Effective Time, no Company stockholder shall be entitled to receive any amount from the Trust Account except to the extent such
stockholder votes against the approval of this Agreement and the transactions contemplated thereby and demands, contemporaneous with such vote, that the Company convert such stockholder’s IPO Shares (as defined in the Merger Agreement) into a
Conversion Payment (as defined in the Merger Agreement) pursuant to the Company’s certificate of incorporation. 
 3.2
Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Company as follows: 
 (a)
Investment Intent. The Purchaser is an “accredited investor” as defined in Rule 501(a) of Regulation D under the Securities Act. The Purchaser is not acquiring the Securities with a view to any distribution thereof or with any
present intention of offering or selling any of the Securities in a transaction that would violate the Securities Act or any state securities laws or any other applicable jurisdiction, without prejudice, however, to the Purchaser’s right at all
times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal or state securities laws. Nothing contained herein shall be deemed a representation or warranty by the Purchaser to hold the Securities
for any period of time. The Purchaser understands that the Securities have not been registered under the Securities 

  

 15 

 
Act, and therefore the Securities may not be sold, assigned or transferred in the U.S. other than pursuant to (i) a registration statement under the
Securities Act, or (ii) an exemption from such registration requirements. 
 (b) General Solicitation. The Purchaser is not
purchasing the Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or
any other general solicitation or general advertisement. 
 (c) Organization. The Purchaser was not organized for the specific purpose
of acquiring the Shares or the Underlying Shares. 
 (d) Reliance on Exemptions. The Purchaser understands that the Securities are
being offered and sold to it in reliance on specific exemptions from the registration requirements of U.S. federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Purchaser’s
representations and warranties set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Securities. 
 (e) Organization; Authority. The Purchaser is an entity duly organized, validly existing and in good standing under the laws of the State of Delaware with the requisite partnership power and authority to enter
into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution, delivery and performance by the Purchaser of the Transaction Documents to which it
is a party have been duly authorized by all necessary corporate or, if the Purchaser is not a corporation, such partnership, limited liability company or other applicable like action, on the part of the Purchaser. Each of the Transaction Documents
to which the Purchaser is a party has been duly executed by the Purchaser and, when delivered by the Purchaser in accordance with terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in
accordance with its terms. 
 (f) Broker-Dealer. The Purchaser is not a registered broker-dealer or engaged in the business of a
broker-dealer. 
 ARTICLE 4 
 OTHER AGREEMENTS OF THE PARTIES 
 4.1 Stockholder’s Agreement and Transfer Restrictions. 
 (a) The Securities may only be disposed of pursuant to an effective registration statement under the Securities Act or pursuant to an available exemption
from the registration requirements of the Securities Act, and in compliance with any applicable state securities laws. In connection with any transfer of Securities other than (i) pursuant to an effective registration statement, (ii) to
the Company or (iii) pursuant to Rule 144 promulgated under the Securities Act, except as otherwise set forth herein, the Company may require the transferor to provide to the Company an opinion of counsel selected by the transferor, the form
and substance of which opinion shall be reasonably satisfactory to the Company, to the effect 

  

 16 

 
that such transfer does not require registration under the Securities Act. The Company shall not register and transfer the Shares or Underlying Shares in
violation of this Section 4.1. Notwithstanding the foregoing, the Company hereby consents to and agrees to register on the books of the Company and with its transfer agent, without any such legal opinion, any transfer of Securities by
the Purchaser to an Affiliate of the Purchaser in accordance with the Stockholder’s Agreement. 
 (b) In addition to the legends
required to be imprinted pursuant to the Stockholder’s Agreement, the Purchaser agrees to the imprinting on any certificate evidencing Securities, except as otherwise permitted by Section 4.1(c), of a restrictive legend in
substantially the form as follows, together with any additional legend required by (i) any applicable state securities laws and (ii) any securities exchange upon which such Securities may be listed: 
 “NEITHER THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS OR
BLUE SKY LAWS.” 
 (c) Certificates evidencing Securities shall not be required to contain such legend or any other legend
(i) following any sale of Securities pursuant to an effective registration statement covering the resale of such Securities under the Securities Act, or (ii) following any sale of such Securities pursuant to Rule 144, or (iii) if such
Securities are eligible for sale under Rule 144(b)(1), or (iv) if such legend is not required under applicable requirements of the Securities Act (including pronouncements issued by the Staff of the Commission). At such time as a legend is no
longer required for certain Securities, the Company will, no later than three Trading Days following the delivery by the Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such Securities, and a
request for legend removal, accompanied in the case of a request under Section 4.1(c)(iv) by an opinion of counsel to the Purchaser to the effect that such legend is not required, deliver or cause to be delivered to the Purchaser a certificate
representing such Securities that is free from all restrictive and other legends. The Company may not give instructions to any transfer agent of the Company that enlarge the restrictions on transfer set forth in this Section. 
 4.2 Furnishing of Information. With a view to making available to the Purchaser the benefits of Rule 144 promulgated under the Securities Act, the
Company agrees to use its best 

  

 17 

 
reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act or otherwise to make and keep “public information available” (as understood and defined in Rule 144). 
 4.3
Reservation and Listing of Securities. 
 (a) The Company shall maintain a reserve from its duly authorized Common Shares for issuance
pursuant to the Transaction Documents in such amount as may be required to fulfill its obligations in full under the Transaction Documents. 
 (b) The Company shall (i) prepare and timely file with the Trading Market an additional shares listing application covering all of the Underlying Shares issued or issuable under the Transaction Documents, (ii) use commercially
reasonable efforts to cause such Underlying Shares to be approved for listing on the Trading Market as soon as practicable thereafter, (iii) provide to the Purchaser evidence of such listing, and (iv) use commercially reasonable efforts to
maintain the listing of such Underlying Shares on such Trading Market. 
 4.4 Use of Proceeds. The Company shall use the net proceeds
to purchase Common Shares pursuant to the Tender Offer and, to the extent insufficient shares are tendered to require such use, for general corporate purposes. 
 4.5 Exclusivity. From and after the date hereof and up to and through the Closing, neither the Company nor its agents shall, directly or indirectly, solicit, initiate, respond to, except as required by law, or
encourage any proposal or offer from any other party relating to any equity or equity linked financing transaction, or any sale of all or any material part of the Company’s or any Subsidiary’s business or assets, including, without
limitation, any asset sale, exclusive license, merger, reorganization or other form of business combination having an effect or result similar to the transaction contemplated herein, or any transaction that would otherwise be inconsistent with the
transactions contemplated by this Agreement. The Company will promptly notify the Purchaser in writing describing any contact between the Company or any Subsidiary or any of their respective agents or representatives and any other person or entity
regarding any such discussion, offer, proposal or inquiry prior to and including the Closing Date, and in all cases the Purchaser will be given the opportunity to match the terms of any alternative transaction that is considered prior to and
including the Closing Date. 
 4.6 Indemnification. 
 (a) Indemnification of the Purchaser. Subject to the limitations set forth in Section 4.11, the Company shall indemnify, to the fullest extent lawful, and hold harmless the Purchaser and any Related
Person from and against any and all Losses, as incurred, directly or indirectly arising out of, based upon or relating to (i) any breach by the Company of any of the representations, warranties or covenants made by the Company in this Agreement
or any other Transaction Document, or any allegation by a third party that, if true, would constitute such a breach or (ii) any Proceeding brought by or against any Person other than the Company, directly or indirectly, in connection with or as
a result of any of the Transactions. The indemnification and expense reimbursement obligations of the Company under this paragraph shall be in addition to any liability that the Company may otherwise have and shall be binding upon and inure to the

  

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benefit of any successors, assigns, heirs and personal representatives of the Purchaser and any Related Persons of the Purchaser. If the Company breaches its
obligations under any Transaction Document, then, in addition to any other liabilities the Company may have under any Transaction Document or applicable law, the Company shall pay or reimburse the Purchaser on demand for all costs of collection and
enforcement (including reasonable attorneys fees and expenses). Without limiting the generality of the foregoing, the Company specifically agrees to reimburse the Purchaser on demand for all costs of enforcing the indemnification obligations in this
paragraph. 
 (b) Exculpation by the Company. The Company agrees that the Purchaser shall not have any liability to the Company or any
person asserting claims on behalf of or in right of the Company in connection with this Agreement or the Purchaser’s position as Purchaser hereunder, except for liabilities determined in a final judgment by a court of competent jurisdiction to
have resulted from a breach of the Purchaser’s obligations under this Agreement or directly from any acts or omissions undertaken or omitted to be taken by the Purchaser through its gross negligence or willful misconduct. 
 (c) Limitation of Liability and Damages. Notwithstanding any other provisions of this Agreement, the Company shall not be liable to the Purchaser
under Section 4.6(a) for (i) incidental, indirect, special, exemplary, consequential or punitive damages or (ii) damages in excess of the Purchase Price. 
 (d) Non-Exclusive Remedy. For purposes of clarity, the provisions contained in this Section 4.6 shall not constitute the exclusive
remedies of the Purchaser hereunder. 
 (e) Survival. This Section 4.6 shall be subject to the survival provisions set
forth in Section 6.11. Any claim or dispute asserted in writing prior to the expiration of the survival period shall survive with respect to such claim or dispute until the final resolution thereof. 
 4.7 Approvals; Further Assurances; Taking of Actions. 
 (a) The Company shall use its commercially reasonable efforts to take or cause to be taken all actions, and to do or cause to be done all other things, necessary, proper or advisable to (i) consummate the
transactions contemplated by the Agreement and any other Transaction Document as promptly as practicable, and (ii) obtain in a timely manner all necessary waivers, consents and approvals and effect all necessary registrations and filings,
including, without limitation, as set forth in Section 4.7(b) below. The Company shall comply in all material respects with each of its covenants and obligations under the Merger Agreement. The Purchaser and the Company shall cooperate
with each other in connection with the making of all such filings, including providing copies of all such documents to the non-filing party and its advisors prior to filing. The Purchaser and the Company shall use their respective commercially
reasonable efforts to furnish to each other all information required for any application or other filing to be made pursuant to the rules and regulations of any applicable law in connection with the transactions contemplated by this Agreement and
any other Transaction Document. The Company shall give any notices to third parties, and use their commercially reasonable efforts to obtain any third party consents related to or required in connection with or to consummate the transactions
contemplated hereby. 
  

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 (b) The Company shall take all actions in accordance with applicable law, its certificate of
incorporation and by-laws and the AMEX rules to promptly and duly call, give notice of, convene and hold as promptly as practicable after date hereof, a meeting of its stockholders (the “Stockholder Meeting”) for the purpose of
considering and voting upon the issuance of the Shares hereunder (the “Stock Issuance Proposal”). The board of directors of the Company shall recommend approval and adoption of the Stock Issuance Proposal by the stockholders of the
Company and include such recommendation in a proxy statement and shall not withdraw or modify, or propose or resolve to withdraw or modify in a manner adverse to the Purchaser, its recommendation that the Company’s stockholders vote in favor of
the Stock Issuance Proposal; provided that the board of directors of the Company may, to the extent required by its fiduciary obligations, change its recommendation. As promptly as practicable after the execution of this Agreement, the Company, in
cooperation with the Purchaser, shall prepare and file an amendment to its preliminary proxy statement initially filed on February 12, 2008 with the Commission, to include the Stock Issuance Proposal and a description of the Tender Offer (the
“Proxy Statement”). The Company shall respond to any comments of the Commission or its staff and shall cause the Proxy Statement to be mailed to its stockholders at the earliest practicable time after the resolution of any such
comments. Purchaser will furnish to the Company all information reasonably requested by the Company to respond to any comments of the Commission or its staff and shall cooperate with the Company to respond to such comments. The Company shall cause
all documents that it is responsible for filing with the Commission or other regulatory authorities under this Section 4.7 to comply in all material respects with all applicable requirements of law and the rules and regulations
promulgated thereunder. The Company shall allow the Purchaser’s full participation in the preparation of the Proxy Statement and any amendment or supplement thereto and shall consult with the Purchaser and its advisors concerning any comments
from the Commission with respect thereto. Notwithstanding anything to the contrary contained in this Agreement, the Company may adjourn or postpone the Stockholder Meeting to the extent necessary to ensure that any required supplement or amendment
to the proxy statement is provided to the Company’s stockholders or, if as of the time for which the Stockholder Meeting is originally scheduled there are insufficient Common Shares represented (either in person or by proxy) to constitute a
quorum necessary to conduct the business of the Stockholder Meeting. 
 4.8 HSR Filing. In furtherance and not in limitation of
Section 4.7, each of the Purchaser and the Company shall make an appropriate filing of a Notification and Report Form pursuant to the HSR Act with respect to the transactions contemplated hereby as promptly as practicable and in any
event within 10 Business Days of the date hereof and to supply as promptly as practicable any additional information and documentary material that may be requested pursuant to the HSR Act and to take all other actions necessary to cause the
expiration or termination of the applicable waiting periods under the HSR Act as soon as practicable. 
 4.9 Public Announcements. The
Company and the Purchaser shall consult with each other before issuing any press release or scheduling any press conference or conference call with investors or analysts, with respect to this Agreement or the transactions contemplated hereby and,
except as may be required by applicable law or any listing agreement with or rule of any national securities exchange, shall not issue any such press release or make any such other public statement or schedule any such press conference or conference
call before such consultation. 
  

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 4.10 Negative Covenants. Except as contemplated by this Agreement, during the period from the date
of this Agreement to the Closing, the Company shall (and shall cause each Subsidiary to) conduct its operations in the ordinary course of business and in compliance with all applicable laws and regulations and, to the extent consistent therewith,
use its commercially reasonable efforts to preserve intact its current business organization, keep its physical assets in good working condition, keep available the services of its current officers and preserve its relationships with others having
business dealings with it to the end that its goodwill and ongoing business shall not be impaired in any material respect. Without limiting the generality of the foregoing, prior to the Closing, the Company shall not (and shall cause each Subsidiary
not to), without the written consent of the Purchaser: 
 (a) issue or sell any stock or other securities of the Company or any Subsidiary or
any options, warrants or rights to acquire any such stock or other securities, amend any of the terms of any Company Warrants or repurchase or redeem any shares of capital stock or other securities of the Company other than: 
 (i) the payment for and cancellation of shares upon the exercise of dissenters’ conversion rights pursuant to the Company’s
certificate of incorporation; 
 (ii) the issuance of Common Shares (or the grant of options therefor) to employees, directors
or officers of, or consultants to, the Company or any Subsidiary pursuant to any plan, agreement or arrangement approved by the Board of Directors of the Company; 
 (iii) the issuance of any Common Shares upon the exercise of Company Warrants outstanding on the date hereof; or 
 (iv) the repurchase of the Underwriter Options. 
 (b) split, combine or reclassify any shares of its capital stock; or declare, set aside or pay any dividend or other distribution (whether in cash, stock or property or any combination thereof) in respect of its
capital stock; 
 (c) create, incur or assume any indebtedness (including obligations in respect of capital leases), other than borrowings of
up to $50,000,000 or in connection with the acquisition of Stream on terms no less favorable than as set forth in the PNC Credit Agreement; 
 (d) acquire, sell, lease, license or dispose of any assets or property (including any shares or other equity interests in or securities of any Subsidiary), other than the acquisition of Stream pursuant to the Merger Agreement; 

(e) amend its certificate of incorporation, by-laws or equivalent organizational documents (except to authorize additional Common Shares at the
Closing, provide for the perpetual existence of the Company, and change the name of the Company); 
  

 21 

 (f) except for Conversion Payments (as defined in the Merger Agreement) to stockholders properly
perfecting their rights to receive Conversion Payments and less than 30% of the IPO Shares (as defined in the Merger Agreement), declare, set aside, make or pay any dividend or other distribution, payable in cash, stock, property or otherwise, with
respect to any of its capital stock; 
 (g) acquire (by merger, consolidation or acquisition of stock or assets), or submit or execute a
letter of intent to acquire, or allow to become “probable” as determined pursuant to Regulation S-X of the Exchange Act, any acquisition of, any corporation, partnership or other business organization or division or line of business;

 (h) modify its current investment policies or investment practices in any material respect except to accommodate changes in applicable Law
or consummate the transactions contemplated by the Merger Agreement; 
 (i) transfer, sell, lease, mortgage, or otherwise dispose of or
subject to any Lien (except Permitted Liens as defined in the Merger Agreement) any of its assets other than in the ordinary course of business consistent with past practice or pursuant to the PNC Credit Agreement; 
 (j) adopt a plan of complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization; 
 (k) reclassify, combine, split, subdivide or redeem, purchase or otherwise acquire, directly or indirectly, any of its capital stock, or Options, except
for the payment for and cancellation of shares upon the exercise of dissenters’ conversion rights pursuant to the Company’s certificate of incorporation; 
 (l) assume, guarantee or endorse, or otherwise as an accommodation become responsible for, the obligations of any Person, or make any loans, advances or capital contributions to, or investments in, any other Person,
other than in the ordinary course of business consistent with past practice; 
 (m) enter into any transaction with, or enter into any
agreement, arrangement, or understanding with any Affiliate of the Company; 
 (n) enter into, amend, terminate or grant any waiver or
consent under any Material Contract, including the Merger Agreement; or 
 (o) take, or offer or propose to take, or agree to take in writing
or otherwise, any of the actions described in Sections 4.10(a) through (n) hereof or any action which would result in any of the conditions set forth in Article 5 not being satisfied or would materially delay the Closing.

 4.11 Trust Fund Waiver. The Purchaser acknowledges that, except for a portion of the interest earned on the amounts held in the
Trust Account to which the Company is entitled to, held in trust by the Trustee pursuant to the Trust Agreement, the Company or the Subsidiaries may disburse monies from the Trust Account only: (a) to the Company’s public stockholders in

  

 22 

 
the event of the redemption of their shares or the dissolution and liquidation of the Company, (b) to the Company (or the Subsidiaries) and Deutsche
Bank Securities Inc. (with respect to Deutsche Bank Securities Inc.’s deferred underwriting compensation only) after the Company consummates a Business Combination (as defined in the Company’s certificate of incorporation as amended to
date) or (c) as consideration to the sellers of a target business with which the Company completes a business combination, all in accordance with the Company’s certificate of incorporation, as amended to date, and the Trust Agreement. The
Purchaser agrees that, notwithstanding anything to the contrary in the Transaction Documents, it does not now have, and shall not at any time prior to the Closing have, any rights, title, interest or claim of any kind in or to, or make any claim of
any kind against, monies held in the Trust Account, regardless of whether such claim arises as a result of, in connection with or relating in any way to, the business relationship between the Purchaser, on the one hand, and the Company, on the other
hand, this Agreement, or any other agreement or any other matter, and regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to in this
Section 4.11 as the “Trust Claims”). Notwithstanding anything to the contrary in the Transaction Documents, the Purchaser hereby irrevocably waives any Trust Claim it may have, now or in the future, and will not seek
recourse against, the Trust Account for any reason whatsoever in respect thereof. In the event that the Purchaser commences any action or proceeding based upon, in connection with, relating to or arising out of any matter relating to the Company,
which proceeding seeks, in whole or in part, relief against the Trust Account or the public stockholders of Company for money damages, the Company shall be entitled to recover from the Purchaser the associated legal fees and costs in connection with
any such action, in the event the Company prevails in such action or proceeding. 
 4.12 Securities Law Compliance. The Purchaser
covenants and agrees that it will not make any sale, transfer or other disposition of the Shares or the Underlying Shares in violation of federal or state securities laws. As soon as practicable and legally permissible after the Closing, the Company
shall commence the Tender Offer to purchase from its stockholders up to 20,625,001 of the outstanding Common Shares, at a price of $8.00 per share. The Tender Offer will be made in accordance with all applicable laws and regulations, including,
without limitation, Rule 13e-4 promulgated under the Exchange Act and otherwise on terms and conditions reasonably satisfactory to the Purchaser. The Company may not increase the number of Common Shares to be purchased or offer to purchase any
other securities of the Company pursuant to the Tender Offer without the prior written consent of the Purchaser. The Purchaser agrees it will not transfer any Common Shares to the Company in the Tender Offer and, prior to the commencement of the
Tender Offer, the Company shall enter into agreements with all officers, former officers, directors and strategic advisory council members of the Company, and affiliates thereof, pursuant to which they will agree not to tender any of their Common
Shares in the Tender Offer. 
 4.13 Notification of Certain Matters. The Company shall give prompt notice to the Purchaser of any
notice or other communication provided by Stream to the Company pursuant to or relating to the Merger Agreement or the transactions contemplated thereby and, to the extent the Company has knowledge, any breach of a representation, warranty or
covenant or other default under the Merger Agreement, or any event, condition or circumstance which could adversely affect the transactions contemplated under the Merger Agreement. The Company shall notify the Purchaser promptly of (i) the
receipt of any comments from the Commission or its 

  

 23 

 
staff and of any request by the Commission or its staff for amendments or supplements to the Proxy Statement or for additional information and (ii) any
event that occurs with respect to the Company, or any change that occurs with respect to other information included in the Proxy Statement, which is required to be described in an amendment of, or a supplement to, the Proxy Statement, and shall
provide the Purchaser and its counsel printer’s copies of all documents filed with the Commission on the same day that they are delivered to the Company and its counsel. 
 4.14 Disclosure of Transactions and Other Material Information. On or before 8:30 a.m., New York Time, on the fourth Business Day following
the date of this Agreement, the Company shall file a Current Report on Form 8-K describing (i) the Merger and attaching the material documents related to the Merger (including, without limitation, the Merger Agreement) and (ii) the terms
of the transactions contemplated by the Transaction Documents in the form required by the Exchange Act and attaching the material Transaction Documents (including, without limitation, this Agreement (and all schedules to this Agreement), the form of
the Shares and the Registration Rights Agreement) as exhibits to such filing. 
 4.15 Access. The Company shall, and shall cause its
Subsidiaries to, upon reasonable request and notice, provide Purchaser and its authorized agents and representatives reasonable access to management, outside accountants and consultants, facilities, properties, books and records (financial and
otherwise) of the Company and its Subsidiaries. 
 4.16 Founder Warrants Subscription Agreement. The Company confirms and agrees that
the Subscription Agreements executed by the holders of the Founder Warrants will not be applicable to Purchaser. Purchaser acknowledges that the Founder Warrants will be subject to the Escrow Agreement (as defined in the Warrant Purchase Agreement).
The Company will use its best efforts to obtain all appropriate consents in order for the Purchaser to exchange the Founder Warrants for new warrants for an equal number of Common Shares, with an exercise price of $6.00 per share, a term of ten
years from the Closing, not subject to redemption and otherwise substantially the same as the Founder Warrants (the “Replacement Warrants”). As soon as practicable following the closing of the transactions contemplated by the Merger
Agreement, but in any event not later than one year and one day after the date of the closing of the transactions contemplated by the Merger Agreement, the Company will take all action necessary to issue to Purchaser the Replacement Warrants.

 ARTICLE 5 
 CONDITIONS 

 5.1 Conditions Precedent to the Obligations of the Purchaser at the Closing. The obligation of the Purchaser to acquire the Shares
at the Closing is subject to the satisfaction or waiver by the Purchaser, at or before the Closing, of each of the following conditions: 
 (a) Representations and Warranties. The representations and warranties of the Company contained herein shall be true and correct in all material respects (without giving effect to any qualifications as to materiality therein) as of
the date when made and as of the Closing as though made on and as of such date (except for those that are expressly limited to a certain date); 
  

 24 

 (b) Performance. The Company shall have performed, satisfied and complied in all material respects
with all covenants, agreements and conditions required by the Transaction Documents to which it is a party to be performed, satisfied or complied with by it at or prior to the Closing, including, without limitation, delivering or causing the
delivery of those items required to be delivered pursuant to Section 2.2(a); 
 (c) No Injunction. No statute, rule,
regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents; 
 (d) Certificate of Designations. The Certificate of Designations shall have been duly
adopted and executed and filed with the Secretary of State of the State of Delaware. The Company shall not have adopted or filed any other document designating terms, relative rights or preferences of the Shares. The Certificate of Designations
shall be in full force and effect as of the Closing under the laws of Delaware and shall not have been amended or modified, and a copy of the Certificate of Designations certified by the Secretary of State of the State of Delaware shall have been
delivered to Purchaser Counsel; 
 (e) Adverse Changes. Since the date of execution of this Agreement, no event or series of events
shall have occurred that has had or reasonably could be expected to have or result in a Material Adverse Effect and no circumstance, development, event, condition or occurrence that, individually or in the aggregate, has had or could reasonably be
expected to have a material adverse effect on the results of operations, assets, liabilities, business or condition (financial or otherwise) of Stream and its subsidiaries, taken as a whole, shall have occurred; 
 (f) No Suspensions of Trading in Common Shares; Listing. Trading in the Common Shares shall not have been suspended by the Commission or the
Trading Market (except for any suspensions of trading of not more than one Trading Day solely to permit dissemination of material information regarding the Company) at any time since the date of execution of this Agreement, and the Common Shares
shall have been at all times since such date listed for trading on the Trading Market, and the Company shall not have received any notice from the Trading Market alleging or inquiring concerning a violation of the Trading Market’s continued
listing criteria or requirements by reason of the Transactions; 
 (g) HSR Clearance. Any applicable waiting periods under the HSR Act
relating to the Transaction Documents (including this Agreement) and the Transactions shall have expired or been terminated; 
 (h)
Shareholder Approval. The Company shall have caused the Stockholder Meeting to be duly called and held for the purpose of voting to approve (the “Approval”) the issuance of the Shares hereunder and the terms thereof and the
performance of the agreements set forth in Section 4.7 and the Merger Agreement. The board of directors of the Company shall have recommended the Approval by the Company’s stockholders. In connection with the Stockholder Meeting,
the Company shall have (i) filed with the Commission and shall have used its commercially reasonable efforts to obtain clearance from the Commission and shall have thereafter mailed to its stockholders the Proxy Statement, (ii) obtained
the Approval and (iii) otherwise complied with all legal requirements applicable to such meeting; 
  

 25 

 (i) Stream Merger. All conditions, including the Approval, to the Merger Agreement shall have been
(or will be concurrently) satisfied and none of such conditions shall have been waived or modified in any material respect and the Purchaser shall have been provided a copy of any amended Company Disclosure Schedules (as defined in the Merger
Agreement) and shall have reasonably determined that such amended Company Disclosure Schedules do not disclose events or circumstances that constitute a Material Adverse Effect (as defined in the Merger Agreement) or that give rise to a termination
of the Merger Agreement by the Company. The Merger Agreement and the transactions contemplated by the Merger Agreement shall have been consummated on the terms set forth in the Merger Agreement; 
 (j) Financing. The Company shall have entered into a credit agreement with PNC Bank, National Association that shall not restrict the Company from
repurchasing up to $190 million of Common Shares, Convertible Securities or Options and that shall be on terms otherwise satisfactory to Purchaser and shall provide for total availability of up to $100 million of borrowing through a revolving
facility and term debt of approximately $8 million (subject to reduction for scheduled principal repayments by Stream prior to the closing of the transactions contemplated by the Merger Agreement); 
 (k) Proxy Statement. Any preliminary proxy statement filed with the Commission after the date hereof and the definitive proxy statement in the
form sent to stockholders of the Company for approval of the Merger Agreement and the Stock Issuance Proposal, including the description of the Tender Offer, shall be reasonably satisfactory to the Purchaser; 
 (l) AMEX Approval. The Company shall have (i) filed with the Trading Market an additional shares listing application covering all of the
Underlying Shares issued or issuable under the Transaction Documents, (ii) caused such Underlying Shares to be approved for listing on the Trading Market and (iii) provided to the Purchaser evidence of such listing; 
 (m) Founder Warrants. All of the closing conditions in the Warrant Purchase Agreement shall have been satisfied. 
 (n) Employment Agreements. The Company shall have entered into employment agreements with R. Scott Murray satisfactory to the Purchaser; and

 (o) Underwriter Options. The Company shall have purchased the Underwriter Options from Deutsche Bank Securities Inc.
(“Deutsche Bank”) and Robert W. Baird & Co. (“Baird”) in accordance with the terms of the Securities Purchase Agreement dated as of May 21, 2008, by and among the Company, Deutsche Bank and Baird, and
the Underwriter Options, and the Common Shares and warrants underlying such Underwriter Options, shall have been cancelled. 
 (p) Charter
Documents. Any indemnification agreements as well as the provisions of the certificate of incorporation and by-laws of the Company with respect to indemnification and exculpation of directors shall be reasonably satisfactory to Purchaser.

  

 26 

 5.2 Conditions Precedent to the Obligations of the Company. The obligation of the Company to sell
Securities at the Closing is subject to the satisfaction or waiver by the Company, at or before such Closing, of each of the following conditions: 
 (a) Representations and Warranties. The representations and warranties of the Purchaser contained herein shall be true and correct in all material respects (without giving effect to any qualifications as to materiality therein) as of
the date when made and as of the Closing as though made on and as of such date (except for those that are limited to a certain date); 
 (b)
Performance. The Purchaser shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to which it is a party to be performed, satisfied or complied
with by the Purchaser at or prior to the Closing, including, without limitation, delivering or causing the delivery of those items required to be delivered pursuant to Section 2.2(b); 
 (c) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or
endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction Documents; 
 (d) HSR Clearance. Any applicable waiting periods under the HSR Act relating to the Transaction Documents (including this Agreement) and the
Transactions shall have expired or been terminated; 
 (e) Merger. The merger described in Section 5.1(i) above shall have
been consummated; and 
 (f) Shareholder Approval. The Company shall have obtained the Approval. 
 ARTICLE 6 
 MISCELLANEOUS 

6.1 Termination. 
 (a) This
Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior to the Closing Date: 
 (i) By the mutual consent of the Company and the Purchaser; 
 (ii) By either party hereto if the Closing has not
been consummated by October 1, 2008, unless such party’s breach of this Agreement is the cause of the failure to consummate the issuance of the Shares by such date, in which case that party may not terminate; 
 (iii) the Purchaser if the Company is in material breach of its obligations under this Agreement and such breach continues for more than
ten (10) Trading Days after the Company has received written notice of such breach; 
  

 27 

 (iv) By either party, if any permanent injunction or other order of a court or other
competent governmental agency preventing the consummation of the Transactions or the merger contemplated by the Merger Agreement shall have become final and nonappealable; or 
 (v) By the Purchaser, if the Merger Agreement has been terminated, or if either the Company or Stream have the right to terminate the
Merger Agreement in accordance with the terms thereof. 
 Sections 4.6, 4.9 and 4.11 and Article 6 of this Agreement shall survive any
termination of this Agreement pursuant to this Section 6.1(a). 
 (b) No termination of this Agreement or any commitments
hereunder shall affect the right of any party to sue for any breach by the other party (or parties), subject to Section 4.11. 
 6.2
Fees and Expenses. If and when Closing occurs, the Company shall pay to the Purchaser the reasonable legal (including fees and disbursements), accounting, consulting, travel and all other out-of-pocket expenses incurred by it in connection
with due diligence and the preparation and negotiation of the Transaction Documents and otherwise in connection with the Transactions, from time to time at the Purchaser’s request, but in no event shall the aggregate amount of such fees and
expenses payable by the Company exceed $1,000,000. The Company shall satisfy this obligation by directing funds to Purchaser Counsel at the Closing or paying such amount to the Purchaser at the Purchaser’s request. In addition, the Company
shall pay to the Purchaser, on the Closing Date, a transaction fee equal to one percent (1.0%) of the Purchase Price. The Company shall pay all filing fees with respect to notifications required under the HSR Act, transfer agent fees, stamp
taxes and other taxes and duties levied in connection with the issuance of any Securities. 
 6.3 Entire Agreement. The Transaction
Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without further consideration, the Company will execute and deliver to the Purchaser such further documents as may be
reasonably requested in order to give practical effect to the intention of the parties under the Transaction Documents. The Company acknowledges that the Purchaser has not made any representations, warranties, promises or commitments other than as
set forth in this Agreement, including any promises or commitments for any additional investment by the Purchaser in the Company. 
 6.4
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile number specified in this Section prior to 4:30 p.m. (New York City time) on a Trading Day, (ii) the Trading Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number specified in this Agreement later than 4:30 p.m. (New York City time) on any date and earlier than 11:59 p.m. (New York 

  

 28 

 
City time) on such date, (iii) the Trading Day following the date of sending, if sent by nationally recognized overnight courier service, specifying
next business day delivery or (iv) upon actual receipt by the party to whom such notice is required to be given if delivered by hand. The address for such notices and communications shall be as follows: 
  

					
		 	If to the Company, to:	  	 Global BPO Services Corp.
 125 High Street, 30th Fl.

 Boston, MA 02110
 Attn: R. Scott Murray
 Phone: (617) 517-3250
 Fax: (617) 517-3247

			
		 	With a copy to:	  	 Wilmer Cutler Pickering Hale and Dorr LLP
 60 State
Street
 Boston, MA 02109
 Attn: Mark G. Borden, Esq.

Phone: (617) 526-6675
 Fax: (617) 526-5000

			
		 	If to the Purchaser:	  	 Ares Corporate Opportunities Fund II, L.P.
 C/O Ares
Management, Inc.
 1999 Avenue of the Stars
 Suite 1900

Los Angeles, California 90067
 Attn: Jeffrey Schwartz
 Phone: (310) 201-4100
 Fax: (310) 201-4157

			
		 	With a copy to:	  	 Proskauer Rose LLP
 2049 Century Park East

Suite 3200
 Los Angeles, CA 90067
 Attn: Thomas W. Dollinger, Esq.
 Phone: (310) 557-2900
 Fax: (310) 557-2193

 or such other address as may be designated in writing hereafter, in the same manner, by such Person by two Trading
Days’ prior notice to the other party in accordance with this Section 6.4. 
 6.5 Amendments; Waivers. No provision
of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchaser. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall
be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any
manner impair the exercise of any such right. Notwithstanding the foregoing, Section 4.11 may not be amended or waived absent the consent of each of the parties hereto. 
  

 29 

 6.6 Construction. The headings herein are for convenience only, do not constitute a part of this
Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will
be applied against any party. 
 6.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of
the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchaser. The Purchaser may assign its rights under this Agreement
with respect to the issuance of Shares to any of its Affiliates prior to the Closing Date and thereafter only with the written consent of the Company; provided that such transferee agrees in writing to be bound, with respect to the
transferred rights or Securities, by the provisions hereof and of the applicable Transaction Documents that apply to the “Purchaser.” In the event of any assignment of the rights of the Purchaser to more than one Person in accordance with
this section, the provisions of this Agreement shall be deemed amended to reflect more than one Purchaser, mutatis mutandis. 
 6.8 Non-Recourse. No past, present or future director, officer or stockholder of the Company shall have any liability for any obligations or liabilities of the Purchaser or the Company (as applicable) under this Agreement or
for any claim based on, in respect of, or by reason of, the transactions contemplated hereby. 
 6.9 No Third-Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person except that
(i) directors, officers and stockholders of the Company shall be beneficiaries of Section 6.8, and (ii) each Related Person is an intended third party beneficiary of Section 4.6 and (in each case) may enforce the provisions of
such Section directly against the parties with obligations thereunder. 
 6.10 Governing Law; Venue; Waiver of Jury Trial. ALL
QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE, REGARDLESS OF THE CONFLICTS OF LAWS
PRINCIPLES OF SUCH STATE. EACH PARTY AGREES THAT ALL LEGAL PROCEEDINGS CONCERNING THE INTERPRETATIONS, ENFORCEMENT AND DEFENSE OF THE TRANSACTIONS CONTEMPLATED BY ANY OF THE TRANSACTION DOCUMENTS (WHETHER BROUGHT AGAINST A PARTY HERETO OR ITS
RESPECTIVE AFFILIATES, DIRECTORS, OFFICERS, STOCKHOLDERS, EMPLOYEES OR AGENTS) SHALL BE COMMENCED EXCLUSIVELY IN THE STATE AND U.S. FEDERAL COURTS SITTING IN THE STATE OF DELAWARE. EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE
JURISDICTION OF THE STATE AND U.S. FEDERAL COURTS SITTING IN THE STATE OF DELAWARE FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE
ENFORCEMENT OF ANY OF THIS AGREEMENT), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT 

  

 30 

 
PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES
PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE ADDRESS IN
EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY
MANNER PERMITTED BY LAW. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE
TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. IF EITHER PARTY SHALL COMMENCE AN ACTION OR PROCEEDING TO ENFORCE ANY PROVISIONS OF THIS AGREEMENT OR ANY TRANSACTION DOCUMENT, THEN THE PREVAILING PARTY IN SUCH ACTION OR
PROCEEDING SHALL BE REIMBURSED BY THE OTHER PARTY FOR ITS REASONABLE ATTORNEYS FEES AND OTHER REASONABLE COSTS AND EXPENSES INCURRED WITH THE INVESTIGATION, PREPARATION AND PROSECUTION OF SUCH ACTION OR PROCEEDING. 
 6.11 Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing and the delivery, exercise
and/or conversion of the Securities, as applicable, until the date that is 12 months after the Closing Date. 
 6.12 Execution. This
Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it
being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) the same with the same force and effect as if such facsimile signature page were an original thereof. 
 6.13
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired
thereby and the parties will attempt in good faith to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 6.14 Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the
Transaction Documents, whenever the Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then the Purchaser may
rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights. 
  

 31 

 6.15 Remedies. In addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, the Purchaser and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of
any breach of obligations described in the foregoing sentence and hereby agree to waive in any Proceeding for specific performance of any such obligation the defense that a remedy at law would be adequate. 
 6.16 Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution payable in Common Shares (or
other securities or rights convertible into, or entitling the holder thereof to receive, directly or indirectly, Common Shares), combination or other similar recapitalization or event occurring after the date hereof, each reference in this Agreement
to a number of shares or a price per share shall be amended to appropriately account for such event. 
 6.17 Tax Treatment of the
Preferred Shares. So long as the Shares are held by the Purchaser, the Company shall not treat the Shares as “preferred stock” for purposes of Section 305 of the Code, unless and until there is a “final determination” to
the contrary within the meaning of Section 1313(a) of the Code. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 
 SIGNATURE PAGES FOLLOW] 
  

 32 

 IN WITNESS WHEREOF, the parties hereto have caused this Preferred Stock Purchase Agreement to be duly
executed by their respective authorized signatories as of the date first indicated above. 
  

			
	GLOBAL BPO SERVICES CORP.
		
	By:	 	 /s/ R. Scott Murray

	Name:	 	R. Scott Murray
	Title:	 	Chief Executive Officer

											
	PURCHASER:
	
	ARES CORPORATE OPPORTUNITIES FUND II, L.P.
		
	By:	 	ACOF MANAGEMENT II, L.P.,
		 	Its General Partner
			
		 	By:	 	ACOF OPERATING MANAGER II, L.P., Its General Partner
				
		 		 	By:	 	ARES MANAGEMENT, INC.,
		 		 		 	Its General Partner
					
		 		 		 	By:	 	 /s/ Jeffrey Schwartz

		 		 		 	Name:	 	Jeffrey Schwartz
		 		 		 	Title:	 	Vice PresidentForm of Certificate of Designation of Series A Convertible Preferred Stock

 Exhibit 10.2 
 GLOBAL BPO SERVICES CORP. 
  
  
 CERTIFICATE OF DESIGNATIONS

 OF 
 SERIES A
CONVERTIBLE PREFERRED STOCK 
  
  
 Pursuant to Section 151 of the Delaware General Corporation Law 
  
  
 Global BPO Services Corp., a Delaware corporation (the “Corporation”), in accordance with the provisions of Section 103 of the
Delaware General Corporation Law (the “DGCL”) does hereby certify that, in accordance with Section 141(c) of the DGCL, the following resolution was duly adopted by the board of directors of the Corporation on
[            ], 2008: 
 RESOLVED, that the board of directors of the
Corporation pursuant to authority expressly vested in it by the provisions of the Certificate of Incorporation of the Corporation, hereby authorizes the issuance of one series of Preferred Stock designated as the Series A Convertible Preferred
Stock, par value $0.001 per share, of the Corporation and hereby fixes the designation, number of shares, powers, preferences, rights, qualifications, limitations and restrictions thereof (in addition to any provisions set forth in the Certificate
of Incorporation of the Corporation which are applicable to the Preferred Stock of all classes and series) as follows: 
 SERIES A
CONVERTIBLE PREFERRED STOCK 
 1. Designation, Amount and Par Value. The following series of preferred stock shall be designated
as the Corporation’s Series A Convertible Preferred Stock (the “Series A Preferred Stock”), and the number of shares so designated shall be 150,000. Each share of Series A Preferred Stock shall have a par value of $0.001 per
share. The “Stated Value” for each share of Series A Preferred Stock equals the sum of (i) $1,000 plus (ii) any amount added to Stated Value pursuant to Section 3 hereof. The Series A Preferred Stock is to be issued
only pursuant to the terms of the Purchase Agreement (as hereinafter defined). 
 2. Definitions. In addition to the terms defined
elsewhere in this Certificate of Designations the following terms have the meanings indicated: 
 “Acceleration
Event” means the occurrence of any one or more of the following events: (i) a Liquidation Event; (ii) a Bankruptcy Event; (iii) immediately prior to a conversion pursuant to Section 7(b) hereof; or (iv) any other
Fundamental Transaction. 

 “Bankruptcy Event” means any of the following events: (a) the
Corporation or a Subsidiary of the Corporation commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction
relating to the Corporation or any Subsidiary thereof; (b) there is commenced against the Corporation or any Subsidiary any such case or proceeding that is not dismissed within 60 days after commencement; (c) the Corporation or any
Subsidiary is adjudicated insolvent or bankrupt or any order of relief or other order approving any such case or proceeding is entered; (d) the Corporation or any Subsidiary suffers any appointment of any custodian or the like for it or any
substantial part of its property that is not discharged or stayed within 60 days; (e) the Corporation or any Subsidiary makes a general assignment for the benefit of creditors; (f) the Corporation or any Subsidiary fails to pay, or states
that it is unable to pay or is unable to pay, its debts generally as they become due; (g) the Corporation or any Subsidiary calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; or
(h) the Corporation or any Subsidiary, by any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate or other action for the purpose of effecting any of the
foregoing. 
 “Business Day” means any day except Saturday, Sunday and any day on which banking institutions
in New York City are authorized or required by law or other governmental action to close. 
 “Closing Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on the Trading Market, the closing price per share of Common Stock for such date (or the nearest
preceding date) on the Trading Market or exchange on which the Common Stock is then listed or quoted; or (b) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the majority in interest of the Holders. 
 “Common Stock” means the common stock of the Corporation, par
value $0.001 per share, and any securities into which such common stock may hereafter be reclassified or exchanged or converted. 
 “Conversion Price” means $8.00 per share (as adjusted for stock dividends, stock splits, stock combinations or other similar events pursuant to Section 13 hereof occurring after the Original Issue Date) and as adjusted
as a result of the exercise by holders of Common Stock of conversion rights as described in Section 13(d) hereof. 
 “Equity Conditions” means, with respect to a specified issuance of Common Stock, that each of the following conditions is satisfied: (i) the number of authorized but unissued and otherwise unreserved shares of Common
Stock is sufficient for such issuance; (ii) the Common Stock is listed or quoted (and is not suspended from trading) on the Trading Market and such shares of Common Stock are approved for listing upon issuance; (iii) no Bankruptcy Event
has occurred; (iv) the conversion of the Series A Preferred Stock is permitted by the Trading Market and all other applicable laws, rules and regulations; and (v) the Corporation is not in default with respect to any material obligation
hereunder or under any of the Transaction Documents. 
  

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 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Fundamental Transaction” means the occurrence of any of the following in one or a series of related
transactions: (i) an acquisition after the date of the Purchase Agreement by an individual or legal entity or “group”(as described in Rule 13d-5(b)(1) under the Exchange Act) of more than 35% of the voting rights or voting equity
interests in the Corporation; (ii) a replacement of more than one-half of the members of the Corporation’s board of directors with members that are not approved by those individuals who are members of the board of directors on the date of
the Purchase Agreement (or other Persons approved by such members to be directors (or their successors so appointed) or appointed pursuant to the terms of the Stockholder’s Agreement; (iii) a merger or consolidation of the Corporation or
any Subsidiary or a sale of all or substantially all of the assets of the Corporation in one or a series of related transactions, unless following such transaction or series of transactions, the holders of the Corporation’s securities prior to
the first such transaction continue to hold a majority of the voting rights or voting equity interests in of the surviving entity or acquirer of such assets; (iv) a recapitalization, reorganization or other transaction involving the Corporation
or any Subsidiary that constitutes or results in a transfer of a majority of the voting rights or voting equity interests in the Corporation; (v) consummation of a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Exchange
Act with respect to the Corporation; (vi) any tender offer or exchange offer (whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other
securities, cash or property and as a result thereof the holders of a majority of the shares of Common Stock prior to the offer do not hold securities representing a majority of the voting rights or voting equity interests in the Corporation, except
for the tender offer described in the Purchase Agreement; (vii) the Corporation effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for
other securities that do not represent a majority of the voting rights or voting equity interests of the Corporation, cash or property; or (viii) the execution by the Corporation of an agreement directly or indirectly providing for any of the
foregoing events; provided that none of items (i) through (viii) shall be deemed a Fundamental Transaction if it involves Purchaser (as such term is defined in the Purchase Agreement) or its Related Persons (as such term is defined
in the Stockholder’s Agreement) or if it is a transaction approved by the Purchaser pursuant to Section 4.1 of the Stockholder’s Agreement. 
 “Holder” means any holder of Series A Preferred Stock. 
 “Junior
Securities” means the Common Stock and all other equity or equity equivalent securities of the Corporation, including, without limitation, any securities convertible into or exercisable for shares of Common Stock. 
  

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 “Liquidation Event” means any liquidation, dissolution or winding up of
the Corporation, either voluntary or involuntary. 
 “Original Issue Date” means the date of the first
issuance of any shares of Series A Preferred Stock, regardless of the number of transfers of any particular shares of Series A Preferred Stock and regardless of the number of certificates that may be issued to evidence shares of Series A Preferred
Stock. 
 “Person” means any individual or corporation, partnership, trust, incorporated or unincorporated
association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 
 “Post-Conversion Equity” means as of the date of determination that number of shares of Common Stock that are then outstanding or would be outstanding upon the exercise of all rights, options, and
warrants (to the extent then exercisable and vested) and conversion of all other securities (including the Series A Preferred Stock) that are convertible into shares of Common Stock. 
 “Purchase Agreement” means the Preferred Stock Purchase Agreement, dated as of June 2, 2008, among the Corporation
and the original purchaser of the Series A Preferred Stock, as the same may be amended or modified in accordance with its terms. 
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date of the Purchase Agreement, to be entered into among the Corporation and the Holders upon the Original Issue Date. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Stockholder’s Agreement” means the Stockholder’s Agreement, dated as of
            , 2008, among the Corporation and the original purchaser of the Series A Preferred Stock. 
 “Subsidiary” means any significant subsidiary of the Corporation as defined in Rule 1-02(w) of Regulation S-X promulgated
by the Securities and Exchange Commission. 
 “Trading Day” means (a) any day on which the Common Stock
is listed or quoted and traded on the Trading Market, or (b) if the Common Stock is not then listed or quoted and traded on the Trading Market, then any Business Day. 
 “Trading Market” means The American Stock Exchange (the “AMEX”) or, at any time the Common Stock is not
listed for trading on the AMEX, any national securities exchange upon which the Common Stock is then primarily listed or quoted. 
 “Transaction Documents” means the Purchase Agreement, the Registration Rights Agreement, the Stockholder’s Agreement, this Certificate of Designations and any other documents or agreements executed or delivered in
connection with the transactions contemplated under the Purchase Agreement and thereunder. 
  

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 “Underlying Shares” means the shares of Common Stock issuable upon
conversion or redemption of the shares of Series A Preferred Stock. 
 3. Dividends. 
 (a) Each Holder shall be entitled to receive, and the Corporation shall pay, cumulative dividends on the Series A Preferred Stock at the rate per share
(as a percentage of the Stated Value per share) of 3.00% per annum, payable semi-annually in arrears commencing on December 31, 2008 and thereafter on each June 30 and December 31, except if such date is not a Trading Day, in
which case such dividend shall be payable on the next succeeding Trading Day (each, a “Dividend Payment Date”). Dividends on the Series A Preferred Stock shall be calculated on the basis of a 360-day year, shall accrue daily
commencing on the Original Issue Date for the applicable Series A Preferred Stock, and shall be deemed to accrue from such date whether or not earned or declared and whether or not there are profits, surplus or other funds of the Corporation legally
available for the payment of dividends. Dividends payable pursuant to this Section 3(a) shall be payable by the Corporation, at its option, in cash, or by adding the amount of accrued dividends per share of Series A Preferred Stock to the
Stated Value of that share. If any dividend is not paid in cash on or before the Dividend Payment Date, the amount thereof shall be added to Stated Value on the Dividend Payment Date. No dividend or other distribution (other than (y) a dividend
or distribution payable solely in Common Stock or (z) a cash dividend or distribution with respect to which holders of shares of Series A Preferred Stock receive a pro rata portion of such dividend or distribution on an as-converted basis)
shall be paid on or set apart for payment on Common Stock or any other Junior Securities unless all accrued and unpaid dividends on the Series A Preferred Stock (but not amounts previously added to Stated Value pursuant to this Section 3) have
been paid in accordance with this Certificate of Designations. 
 (b) Immediately prior to the occurrence of any Acceleration Event prior to
the seventh anniversary of the Original Issue Date, the Stated Value of each share of Series A Preferred Stock shall immediately and automatically be increased by an amount per share equal to all dividends that would otherwise be payable on a share
of Series A Preferred Stock on each Dividend Payment Date on and after the occurrence of such Acceleration Event and prior to and including the seventh anniversary of such Original Issue Date (the “Acceleration Period”). The
automatic increase in Stated Value pursuant to this Section 3(b) shall be in lieu of, and not in addition to, the dividends that would otherwise be payable on each Dividend Payment Date during the Acceleration Period. For the purpose of
clarity, and only in the event that the Corporation has not elected to require conversion under Section 7(b), each Holder shall be entitled to receive, and the Corporation shall pay, all dividends payable in accordance with Section 3(a)
above on each Dividend Payment Date after the seventh anniversary of the Original Issue Date. 
 (c) Notwithstanding anything in this
Certificate of Designation to the contrary, an amount equal to the sum of all accrued but unpaid dividends shall be payable upon, 
 (i) a
Liquidation Event in cash; 
  

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 (ii) a Fundamental Transaction that the Holders elect to treat as a Liquidation Event pursuant to
Section 6(c) in cash or in other securities or property as specified in Section 6(c); or 
 (iii) conversion of the Series A
Preferred Stock, either (A) in cash or (B) in additional Underlying Shares as provided in Section 8(a), at the option of the Corporation. 
 For the purposes of this Section 3(c), accrued but unpaid dividends shall include any amounts added to Stated Value as a result of deferred dividends or accelerated dividends as provided in Section 3(a);
provided, however, that to avoid double counting accrued but unpaid dividends shall not be counted both for the purposes of this Section 3(c) and in determining Stated Value. 
 4. Registration of Issuance and Ownership of Series A Preferred Stock. The Corporation shall register the issuance and ownership of shares of the
Series A Preferred Stock, upon records to be maintained by the Corporation for that purpose (the “Series A Preferred Stock Register”), in the name of the record Holders thereof from time to time. The Corporation may deem and treat
the registered Holder of shares of Series A Preferred Stock as the absolute owner thereof for the purpose of any conversion hereof or any distribution to such Holder, and for all other purposes, absent actual notice to the contrary. 
 5. Registration of Transfers. Subject to the terms of the Stockholder’s Agreement, the Corporation shall register the transfer of any shares
of Series A Preferred Stock in the Series A Preferred Stock Register, upon surrender of certificates evidencing such Shares to the Corporation at its address specified herein. Upon any such registration or transfer, a new certificate evidencing the
shares of Series A Preferred Stock so transferred shall be issued to the transferee and a new certificate evidencing the remaining portion of the shares not so transferred, if any, shall be issued to the transferring Holder. 
 6. Liquidation. 
 (a) In the event of
any Liquidation Event, the Holders of Series A Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of the assets or surplus funds of the Corporation to the holders of Junior Securities by reason of their
ownership thereof, an amount per share in cash equal to the greater of (i) the Stated Value for each share of Series A Preferred Stock then held by them (as adjusted for any stock split, stock dividend, stock combination or other similar
transactions with respect to the Series A Preferred Stock), plus all accrued but unpaid dividends (including, without duplication, dividends added to Stated Value as provided in Section 3 above) on such Series A Preferred Stock as of the date
of such event, and (ii) the amount per share that would be payable to a holder of Series A Preferred Stock had all shares of Series A Preferred Stock been converted to Underlying Shares immediately prior to such Liquidation Event (the
“Series A Stock Liquidation Preference”). If, upon the occurrence of a Liquidation Event, the assets and funds thus distributed among the holders of the Series A Preferred Stock shall be insufficient to permit the payment to such
Holders of the full Series A Stock Liquidation Preference, then the entire assets and funds of the Corporation legally available for distribution shall be distributed ratably among the Holders of the Series A Preferred Stock in proportion to the
aggregate Series A Stock Liquidation Preference that would otherwise be payable to each of such Holders. 
  

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 (b) In the event of a Liquidation Event, following completion of the distributions required by the first
sentence of paragraph (a) of this Section 6, if assets or surplus funds remain in the Corporation, the holders of the Common Stock and other Junior Securities shall share in all remaining assets of the Corporation. 
 (c) The Corporation shall provide written notice of any Liquidation Event or Fundamental Transaction to each record Holder not less than 45 days prior to
the payment date or effective date thereof. At the request of any Holder, which must be delivered prior to the effective date of a Fundamental Transaction (or, if later, within five (5) Trading Days after such Holder receives notice of such
Fundamental Transaction from the Corporation), such Fundamental Transaction will be treated as a Liquidation Event with respect to such Holder for the purposes of this Section 6; provided, however, that if the consideration to be paid to the
holders of the Common Stock is not to be paid in cash, but rather in securities or other property, then at the option of the Corporation, the amount payable to the Holders pursuant to this Section 6(c) shall be either (i) in cash or
(ii) in the same securities or other property as is to be paid to the holders of Common Stock so long as (a) such securities or other property consist exclusively of common equity interests quoted on the Nasdaq Stock Market or listed on
the New York Stock Exchange or on the American Stock Exchange, (b) the value of such common equity interests shall be determined as 98% of the closing price of such common equity interests on the Nasdaq Stock Market, the New York Stock Exchange
or the American Stock Exchange, as the case may be, on the Trading Day immediately preceding the consummation of such Fundamental Transaction and (c) such common equity interests shall be freely transferable by the Holders, without legal or
contractual restrictions. At the request of the original purchaser under the Purchase Agreement, prior to the issuance of any common equity interests referred to in the preceding sentence, counsel to the issuer of such common equity interests
familiar with United States federal securities laws shall provide the Purchaser with a legal opinion to the effect that such common equity interests are transferable without legal restriction under United States federal securities laws. 

(d) In the event that, immediately prior to the closing of a Liquidation Event the cash distributions required by subsection 6(a) have not been made,
the Corporation shall forthwith either: (i) cause such closing to be postponed until such time as such cash distributions have been made, or (ii) cancel such transaction, in which event the rights, preferences and privileges of the holders
of the Series A Preferred Stock shall revert to and be the same as such rights, preferences and privileges existing immediately prior to the date of the first notice by the Corporation required under subsection 6(c). 
 7. Conversion; Redemption 
 (a)
Conversion at Option of Holder. At the option of any Holder, any shares of Series A Preferred Stock may be converted into Common Stock based on the Conversion Price then in effect for the Series A Preferred Stock; provided that if less
than 20% of the number of shares of Series A Preferred Stock outstanding on the date the Series A Preferred Stock is first issued by the Corporation would remain outstanding after any such conversion, then all shares 

  

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must be converted at that time. A Holder may convert shares of Series A Preferred Stock into Common Stock pursuant to this paragraph at any time and from
time to time after the Original Issue Date, by delivering to the Corporation a conversion notice (the “Holder Conversion Notice”), in the form attached hereto as Exhibit A, appropriately completed and duly signed, and the date any
such Holder Conversion Notice is delivered to the Corporation (as determined in accordance with the notice provisions hereof) is a “Conversion Date.” 
 (b) Conversion at Option of Corporation. At any time that (i) the average Closing
Price for at least 20 Trading Days within a period of 30 consecutive Trading Days ending on the Trading Day prior to the date of the Corporation Conversion Notice (as defined below) exceeds 150% of the Conversion Price or (ii) a Fundamental
Transaction occurs that the Holders do not elect to treat as a Liquidation Event, the Corporation may elect to require the Holders to convert all shares of the Series A Preferred Stock into Common Stock based on the Conversion Price by delivering an
irrevocable written notice of such election to the Holders (the “Corporation Conversion Notice”). The tenth (10th) Trading Day
after the delivery of such notice will be the “Conversion Date” for such required conversion. Notwithstanding the foregoing, (x) in the event of a conversion at the option of the Corporation predicated on clause (i) of the
first sentence of this Section 7(b), the Corporation may not require any conversion under this paragraph (and any notice thereof will be void), prior to the second anniversary of the Original Issue Date and unless from the beginning of such ten
Trading Day period through the Conversion Date, the Closing Price for each such Trading Day exceeds 150% of the Conversion Price, and (y) in the event of a conversion at the option of the Corporation predicated on clause (i) or
(ii) of the first sentence of this Section 7(b), the Corporation may not require any conversion under this paragraph (and any notice thereof will be void), unless the Equity Conditions are satisfied (or waived in writing by the applicable
Holder) on each Trading Day between the date of the Conversion Notice and the Conversion Date with respect to all of the Underlying Shares then issuable upon conversion in full of all outstanding Series A Preferred Stock. 
 (c) Redemption at Option of Holder. On or after the seventh anniversary of the Original Issue Date, the Holder may, at its option, require the
Corporation to redeem any of the Series A Preferred Stock owned by the Holder, for an amount per share in cash equal to the Stated Value on the Redemption Date plus all accrued and unpaid dividends that have not been added to Stated Value on the
Redemption Date (the “Cash Redemption Price”) for each share of Series A Preferred Stock (as adjusted for any stock split, stock dividend, stock combination or other similar transactions with respect to the Series A Preferred Stock)
to be redeemed on the Redemption Date (as defined below) . Additionally, if the product of (X) the average Closing Price of the ten (10) Trading Days immediately preceding the Redemption Date (the “Company Redemption Closing
Price”) and (Y) the number of shares of Common Stock that would have been issued had the Holder converted all outstanding shares of Series A Preferred Stock being redeemed into shares of Common Stock on the Redemption Date (such
product being referred to as the “Common Stock As Converted Cash Value”) exceeds the aggregate Cash Redemption Price, the Holder will receive on the Redemption Date, in addition to the aggregate Cash Redemption Price, in shares of
Common Stock, the amount by which the Common Stock As Converted Cash Value exceeds the aggregate Cash Redemption Price, with the per share value for the Common Stock so issued and delivered being the Company Redemption Closing Price. The redemption
date (the “Redemption Date”) shall be specified in an irrevocable written notice 

  

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of redemption sent by or on behalf of the Holder (pursuant to this Section 7(c)) or Corporation (pursuant to Section 7(d)), as the case may be, to
the Holder or the Corporation, as applicable, not less than thirty (30) days nor more than ninety (90) days prior to the proposed Redemption Date notifying the Corporation or the Holder, as applicable, of the election of the Corporation or
the Holder, as the case may be, to redeem such shares in accordance with the terms hereof and specifying the Redemption Date. 
 (d)
Redemption at Option of Corporation. On or after the seventh anniversary of the Original Issue Date, the Corporation may, at its option, redeem any of the Series A Preferred Stock owned by the Holders, for the Cash Redemption Price
plus, if the Common Stock As Converted Cash Value exceeds the aggregate Cash Redemption Price, the Holder will receive on the Redemption Date, in addition to the aggregate Cash Redemption Price, in shares of Common Stock, the amount by which
the Common Stock As Converted Cash Value exceeds the Cash Redemption Price, with the per share value for the Common Stock so issued and delivered being the Company Redemption Closing Price; provided that if less than 20% of the number of shares of
Preferred Stock outstanding on the date the Preferred Stock is first issued by the Corporation would remain outstanding after any such redemption, then all shares must be redeemed at that time. 
 8. Mechanics of Conversion; Redemption. 
 (a) The Corporation shall pay the applicable Cash Redemption Price in immediately available funds to the Holder on the Redemption Date. 
 (b) The number of Underlying Shares issuable upon any conversion of shares of Series A Preferred Stock hereunder shall equal (A) the sum of (i) the Stated Value of such shares of Series A Preferred Stock to be converted plus
(ii) the accrued and unpaid dividends on such shares of Series A Preferred Stock that have not been added to the Stated Value on the Conversion Date, divided by (B) the applicable Conversion Price on the Conversion Date. 
 (c) Upon conversion or redemption (if the Common Stock as Converted Cash Value exceeds the aggregate Cash Redemption Price) of any shares of Series A
Preferred Stock, the Corporation shall promptly issue or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may designate a certificate for the Underlying Shares issuable
upon such conversion or redemption, free of restrictive legends unless such Underlying Shares are still required to bear a restrictive legend; the Corporation shall use its commercially reasonable efforts to cause the transfer agent to issue such
certificates on or before (i) the sixth Trading Day after the Conversion Date or (ii) the Redemption Date, as the case may be. The Holder shall be deemed to have become holder of record of such Underlying Shares as of the Conversion Date
or Redemption Date as the case may be. If the shares are then not required to bear a restrictive legend, the Corporation shall, upon request of the Holder, deliver Underlying Shares hereunder electronically through The Depository Trust Corporation
(“DTC”) or another established clearing corporation performing similar functions, and shall credit the number of shares of Common Stock to which the Holder shall be entitled to the Holder’s or its designee’s balance
account with DTC through its Deposit Withdrawal Agent Commission System (“DWAC”). 
  

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 (d) A Holder shall deliver the original certificate(s) evidencing the Series A Preferred Stock being
converted or redeemed in connection with the conversion or redemption of such Series A Preferred Stock. Upon surrender of a certificate following one or more partial conversions or redemptions, the Corporation shall promptly deliver to the Holder a
new certificate representing the remaining shares of Series A Preferred Stock. 
 (e) The Corporation’s obligations to issue and deliver
Underlying Shares upon conversion of Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by any Holder to enforce the same, any waiver or consent with respect to any
provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by any Holder or any other Person of any
obligation to the Corporation or any violation or alleged violation of law by any Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Corporation to any Holder in connection with
the issuance of such Underlying Shares. 
 9. Voting Rights; Director Designation. 
 (a) Except as otherwise provided in this Section 9(a) or in Section 9(b) or as required by applicable law and subject to the Stockholder’s
Agreement, the Holders of the Series A Preferred Stock shall be entitled to vote on all matters on which holders of Common Stock are entitled to vote. For such purposes, each Holder shall be entitled to a number of votes in respect of the shares of
Series A Preferred Stock owned of record by it equal to the number of shares of Common Stock into which such shares of Series A Preferred Stock are convertible by the Holders as of the record date for the determination of stockholders entitled to
vote on such matter, or if no record date is established, at the date such vote is taken or any written consent of stockholders is solicited. Except as otherwise provided in this Section 9(a) or in Section 9(b), in any relevant agreement
or as required by applicable law, the holders of the Series A Preferred Stock and Common Stock shall vote together as a single class on all matters submitted to a vote or consent of stockholders; provided that so long as any shares of Series A
Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of the Holders of a majority of the shares of Series A Preferred Stock then outstanding, voting together as a separate class, 
 (i) alter or change the powers, preferences or rights given to the Series A Preferred Stock or alter or amend this Certificate of Designation
(whether by amendment of this Certificate of Designations or the Company’s certificate of incorporation or other charter documents or through any reorganization, recapitalization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action) or avoid or seek to avoid the observance or performance of any or the terms to be observed or performed hereunder by the Corporation; 
 (ii) authorize or create any class or series of stock ranking as to dividends, redemption or distribution of assets upon a Liquidation Event or
Fundamental Transaction senior to or otherwise pari passu with the Series A Preferred Stock, including without limitation through any 

  

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reorganization, recapitalization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action) or avoid
or seek to avoid the observance or performance of any or the terms to be observed or performed hereunder by the Corporation;; 
 (iii)
increase the authorized number of shares of Series A Preferred Stock; 
 (iv) pay or declare any dividend or make any distribution on, or
redeem or acquire, any Junior Securities, except pro rata stock dividends on the Common Stock payable in additional shares of Common Stock; or 
 (v) enter into any transaction or series of transactions which would constitute a Liquidation Event or Fundamental Transaction if the consideration payable with respect to each share of Series A Preferred Stock is other than an amount in
cash which is more than 150% of the Conversion Price; or 
 (vi) enter into any agreement with respect to the foregoing. 
 The protective rights set forth above in (iv) will terminate and cease to apply on the earliest to occur of (A) the first date on which there are outstanding
less than 30% of the number of shares of Series A Preferred Stock that were outstanding on the date the Series A Preferred Stock is first issued by the Corporation and (B) the first date on which the outstanding shares of Series A Preferred
Stock represent, in the aggregate, less than 20% of the Post-Conversion Equity. The protective rights set forth above in (v) will terminate and cease to apply on the date that both (A) and (B) have occurred. 
 (b) The Holders of the Series A Preferred Stock shall not be entitled nor have the right or power to vote in any election or removal, with or without
cause, of directors of the Corporation elected or removed generally by the holders of the Common Stock (and any capital stock entitled to vote in the election or removal of directors with the holders of the Common Stock) but shall instead have the
special voting rights set forth in this Section 9(b). 
 (i) During such time as the original purchaser under the Purchase Agreement,
together with its Affiliates, owns shares of Series A Preferred Stock that collectively represent at least 50% of the number of shares of Series A Preferred Stock that were outstanding on the date the Series A Preferred Stock is first issued by the
Corporation, the original purchaser of the Series A Preferred Stock shall be entitled to elect two directors to the Corporation’s board of directors. 
 (ii) During such time as the original purchaser under the Purchase Agreement, together with its Affiliates, owns shares of Series A Preferred Stock that collectively are convertible into at least 17,850,000 shares of
Common Stock, the original purchaser of the Series A Preferred Stock shall be entitled to elect three directors to the Corporation’s board of directors. 
  

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 (iii) During such time as the original purchaser under the Purchase Agreement, together with its
Affiliates, owns shares of Series A Preferred Stock that collectively represent at least 25% of the number of shares of Series A Preferred Stock that were outstanding on the date the Series A Preferred Stock is first issued by the Corporation or
owns shares of Series A Preferred Stock, Common Stock or securities convertible into or exercisable for shares of Common Stock representing on an as converted or exercised basis at least 10% of the Post-Conversion Equity of the Corporation, the
original purchaser of the Series A Preferred Stock shall be entitled to elect one director to the Corporation’s board of directors. 
 (iv) At any time that the original purchaser under the Purchase Agreement, together with its Affiliates, owns shares of Series A Preferred Stock that collectively represent less than 75% of the number of shares of Series A Preferred Stock
that were outstanding on the date the Series A Preferred Stock is first issued by the Corporation and does not own shares of Series A Preferred Stock, Common Stock or securities convertible into or exercisable for shares of Common Stock representing
on an as converted or exercised basis more than 10% of the Post-Conversion Equity of the Corporation, then the original purchaser of the Series A Preferred Stock shall not be entitled to elect any directors to the Corporation’s board of
directors. 
 The original purchaser of the Series A Preferred Stock may remove any director elected pursuant to this Section 9(b) at any time and from
time to time, without cause (subject to the Bylaws of the Corporation and any requirements of law), in its sole discretion. In the event a director elected by the original purchaser of the Series A Preferred Stock is removed, the vacancy in the
board of directors shall be filled by the original purchaser of Series A Preferred Stock, and such action shall be taken only by vote or written consent in lieu of a meeting of the holders of the Series A Preferred Stock or by any remaining director
or directors elected by the holders of Series A Preferred Stock pursuant to this Section 9(b). 
 10. Charges, Taxes and
Expenses. Issuance of certificates for shares of Series A Preferred Stock and for Underlying Shares issued on conversion of (or otherwise in respect of) the Series A Preferred Stock shall be made without charge to the Holders for any issue or
transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Corporation. The Holder shall be responsible for all other tax
liability that may arise as a result of holding or transferring the Series A Preferred Stock or receiving Underlying Shares in respect of the Series A Preferred Stock. 
 11. Replacement Certificates. If any certificate evidencing Series A Preferred Stock or Underlying Shares is mutilated, lost, stolen or destroyed, or a Holder fails to deliver such certificate as may otherwise
be provided herein, the Corporation shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution for such certificate, a new certificate, but only upon receipt of evidence
reasonably satisfactory to the Corporation of such loss, theft or destruction (in such case) and, in each case, customary and 

  

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reasonable indemnity, if requested. Applicants for a new certificate under such circumstances shall also comply with such other reasonable regulations and
procedures and pay such other reasonable third-party costs as the Corporation may prescribe. 
 12. Reservation of Underlying Shares.
The Corporation covenants that it shall at all times reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Underlying Shares as required
hereunder, the number of Underlying Shares which are then issuable and deliverable upon the conversion of (and otherwise in respect of) all outstanding Series A Preferred Stock (taking into account the adjustments of Section 13), free from
preemptive rights or any other contingent purchase rights of persons other than the Holder. The Corporation covenants that all Underlying Shares so issuable and deliverable shall, upon issuance in accordance with the terms hereof, be duly and
validly authorized, issued and fully paid and nonassessable. The Corporation covenants that it shall use its best efforts to satisfy each of the Equity Conditions. 
 13. Certain Adjustments. The Conversion Price is subject to adjustment from time to time as set forth in this Section 13. Such adjustments shall be made to the Conversion Price for all shares of Series A
Preferred Stock from and after the Original Issue Date. 
 (a) Stock Dividends and Splits. If the Corporation, at any time while Series
A Preferred Stock is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides outstanding shares of Common Stock
into a larger number of shares, or (iii) combines outstanding shares of Common Stock into a smaller number of shares, then in each such case the applicable Conversion Price for Series A Preferred Stock shall be multiplied by a fraction of which
the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant
to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of
this paragraph shall become effective immediately after the effective date of such subdivision or combination. 
 (b) Pro Rata
Distributions. If the Corporation, at any time while Series A Preferred Stock is outstanding, distributes or pays as a dividend to holders of Common Stock (i) evidences of its indebtedness, (ii) any security (other than a distribution
of Common Stock covered by the preceding paragraph), (iii) rights or warrants to subscribe for or purchase any security, or (iv) any other asset (including, without limitation, cash) (in each case, “Distributed Property”),
then in each such case the Corporation shall simultaneously deliver to each Holder the Distributed Property that each such Holder would have been entitled to receive in respect of the number of Underlying Shares then issuable pursuant to
Section 7(a) above had the Holder been the record holder of such Underlying Shares immediately prior to the applicable record or payment date. 
 (c) Fundamental Transactions. If the Corporation, at any time while Series A Preferred Stock is outstanding, effects any Fundamental Transaction, then upon any subsequent 

  

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conversion of Series A Preferred Stock, each Holder shall have the right to receive, for each Underlying Share that would have been issuable upon such
conversion absent such Fundamental Transaction, the same kind and amount of securities, cash or property as it could have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such
Fundamental Transaction, the holder of one share of Common Stock (the “Alternate Consideration”). For purposes of any such conversion, the determination of the applicable Conversion Price for the Series A Preferred Stock shall be
appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Corporation shall apportion the Conversion Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then each Holder shall be given the same choice as to the Alternate Consideration it receives upon any conversion of Series A Preferred Stock following such Fundamental Transaction. To the extent necessary to effectuate
the foregoing provisions, any successor to the Corporation or surviving entity in such Fundamental Transaction shall issue to the Holder a new series of preferred stock consistent with the foregoing provisions and evidencing the Holders’ right
to convert such preferred stock into Alternate Consideration. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions of
this paragraph (c) and insuring that the Series A Preferred Stock (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. 
 (d) Adjustments in the event that holders of Common Stock exercise their Conversion Rights. In the event that any holder of Common Stock exercised
their rights prior to the date of filing this Certificate of Designation to demand that such holder’s shares of Common Stock be converted into cash pursuant to the amended and restated certificate of incorporation of the Corporation (any such
holder a “Dissenting Holder”), there shall be an adjustment to the Conversion Price as described in this Section 13(d): 
 (i) the number of shares of Common Stock as to which such rights to demand conversion into cash are exercised by Dissenting Holders shall be referred to herein as the “Dissenting Shares”; 
 (ii) the Conversion Price shall be adjusted pursuant to the following formula: 
 (1) take 9,374,999 and subtract the Dissenting Shares; 
 (2) take that difference and divide it by 9,374,999; 
 (3) subtract this quotient from 1.00; 
 (4) take the resulting number and multiply it by $2.00 (this figure shall be referred to as the “Adjustment Amount”); provided that if
the number of Dissenting Shares is 9,374,999, the Adjustment Amount shall be $2.00; 
  

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 (5) subtract the Adjustment Amount from $8.00; this resulting figure shall be the new Conversion Price.

 (e) Calculations. All calculations under this Section 13 shall be made to the nearest cent or the nearest 1/100th of a share,
as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Corporation, and the disposition of any such shares shall be considered an issue or sale of Common
Stock. 
 (f) Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 13, the Corporation at its
expense will promptly compute such adjustment in accordance with the terms hereof and prepare a certificate describing in reasonable detail such adjustment and the transactions giving rise thereto, including all facts upon which such adjustment is
based. Upon written request, the Corporation will promptly deliver a copy of each such certificate to each Holder and to the Corporation’s Transfer Agent. 
 (g) Notice of Corporate Events. If the Corporation (i) declares a dividend (other than a dividend pursuant to Section 3 above) or any other distribution of cash, securities or other property in
respect of its Common Stock, including without limitation any granting of rights or warrants to subscribe for or purchase any capital stock of the Corporation or any Subsidiary, (ii) authorizes or approves, enters into any agreement
contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Corporation, then the Corporation shall deliver to each Holder a
notice describing the material terms and conditions of such transaction, at least 20 calendar days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with respect to
such transaction. 
 14. Fractional Shares. The Corporation shall not be required to issue or cause to be issued fractional Underlying
Shares on conversion of Series A Preferred Stock. 
 15. Notices. Any and all
notices or other communications or deliveries hereunder (including without limitation any Conversion Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number specified in this Section prior to 4:30 p.m. (New York City time) on a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number specified in this Section on a day that is not a Trading Day or later than 4:30 p.m. (New York City time) on any Trading Day, (iii) the Trading Day following the date of mailing, if sent by
nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. The addresses for such communications shall be: (i) if to the Corporation, to 125 High Street,
30th Floor, Boston, MA 02110, Attention: Corporate Secretary, or (ii) if to a Holder, to the address or facsimile number appearing on the
Corporation’s stockholder records or such other address or facsimile number as such Holder may provide to the Corporation in accordance with this Section. 
  

 - 15 - 

 16. Miscellaneous. 
 (a) The headings herein are for convenience only, do not constitute a part of this Certificate of Designations and shall not be deemed to limit or affect any of the provisions hereof. 
 (b) Any of the rights of the Holders of Series A Preferred Stock set forth herein, including any Equity Conditions or any other similar conditions for
the Holders’ benefit, may be waived by the affirmative vote of Holders of at least a majority of the shares of Series A Preferred Stock then outstanding. No waiver of any default with respect to any provision, condition or requirement of this
Certificate of Designations shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to
exercise any right hereunder in any manner impair the exercise of any such right. 
  

 - 16 - 

 IN WITNESS WHEREOF, Global BPO Services Corp. has caused this Certificate of Designations to be duly
executed as of this [            ] day of [            ], 2008. 
  

			
	GLOBAL BPO SERVICES CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 - 17 - 

 Exhibit A 
 FORM OF CONVERSION NOTICE 
 (To be executed by the registered Holder 
 in order to convert shares of Series A Preferred Stock) 
 The undersigned
hereby elects to convert the number of shares of Series A Convertible Preferred Stock indicated below into shares of common stock, par value $0.001 per share (the “Common Stock”), of Global BPO Services Corp., a Delaware corporation
(the “Corporation”), according to the conditions hereof, as of the date written below. 
  

			
	  

	Date to Effect Conversion
	
	  

	Number of shares of Series A Preferred Stock owned prior to Conversion
	
	  

	Number of shares of Series A Preferred Stock to be Converted
	
	  

	Stated Value of shares of Series A Preferred Stock to be Converted
	
	  

	Number of shares of Common Stock to be Issued
	
	  

	Applicable Conversion Price
	
	  

	Number of shares of Series A Preferred Stock subsequent to Conversion
	
	  

	Name of Holder
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 - 18 -

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