Document:

MEMBERSHIP
INTEREST PURCHASE AGREEMENT

 

This Membership
Interest Purchase Agreement (this “Agreement”), dated as of July 31, 2015 (the “Execution Date”),
is entered into between each party holding interests in the Companies (collectively, “Seller”), Cuarto LLC,
a limited liability company organized under the laws of the state of Oregon, Quinto LLC, a limited liability company organized
under the laws of the state of Oregon, Noveno LLC, a limited liability company organized under the laws of the state of Oregon,
Septimo LLC, a limited liability company organized under the laws of the state of Oregon, Primero LLC, a limited liability company
organized under the laws of the state of Oregon, Segundo LLC, a limited liability company organized under the laws of the state
of Oregon, Sexto LLC, a limited liability company organized under the laws of the state of Oregon, Octavo LLC, a limited liability
company organized under the laws of the state of Oregon and LBB LLC, a limited liability company organized under the laws of the
state of Oregon (each a “Company” and collectively the “Companies”), LBB Acquisition, LLC,
a limited liability company organized under the laws of the state of North Carolina (“Buyer”) and Chanticleer
Holdings, Inc., a corporation formed under the laws of the state of Delaware (“Parent”).

 

RECITALS

 

WHEREAS,
one or more of the Persons comprising Seller owns all of the issued and outstanding membership interests (the “Membership
Interests”) in each of the Companies;

 

WHEREAS,
the Companies own and operate the fast casual burger chain under the name “Little Big Burger” (the “Business”);
and

 

WHEREAS,
Seller wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Membership Interests, subject to the terms and conditions
set forth herein;

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Article I

Definitions

 

The
following terms have the meanings specified or referred to in this  Article I:

 

“Action”
means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation,
citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at
law or in equity.

 

“Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by,
or is under common control with, such Person. The term “control” (including the terms “controlled by” and
“under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

    	 

    	 

    

 

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in New York, New York are
authorized or required by Law to be closed for business.

 

“Closing
Working Capital” means: (a) the aggregate Current Assets of the Companies, less (b) the aggregate Current Liabilities
of the Companies, determined as of the open of business on the Closing Date.

 

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

 

“Company
Intellectual Property” means all Intellectual Property that is owned or held for use by any of the Companies.

 

“Company
IP Agreements” means all licenses, sublicenses, consent to use agreements, settlements, coexistence agreements, covenants
not to sue, permissions and other Contracts (including any right to receive or obligation to pay royalties or any other consideration),
whether written or oral, pursuant to which any Company grants or receives any rights in or to Intellectual Property and to which
any Company is a party, beneficiary or otherwise bound.

 

“Company
IP Registrations” means all Company Intellectual Property that is subject to any issuance registration, application or
other filing by, to or with any Governmental Authority or authorized private registrar in any jurisdiction, including registered
trademarks, domain names and copyrights, issued and reissued patents and pending applications for any of the foregoing.

 

“Contracts”
means all contracts, leases, deeds, mortgages, licenses, instruments, notes, commitments, undertakings, indentures, joint ventures
and all other agreements, commitments and legally binding arrangements, whether written or oral.

 

“Current
Assets” means cash and cash equivalents, inventory and prepaid expenses, but excluding (a) the portion of any prepaid
expense of which Buyer will not receive the benefit following the Closing and (b) receivables from any of the Companies’
Affiliates, managers, employees, officers or members and any of their respective Affiliates other than receivables arising under
the Sublease Agreement dated January 1, 2015 between Noveno LLC and Boxer Ramen LLC (the “Sublease Agreement”),
determined in accordance with the same accounting methods, practices, principles, policies and procedures, with consistent classifications,
judgments and valuation and estimation methodologies, that were used in the preparation of the Financial Statements for the most
recent fiscal year end as if such accounts were being prepared as of a fiscal year end.

 

“Current
Liabilities” means accrued expenses, but excluding payables to any of the Companies’ Affiliates, managers, employees,
officers or members and any of their respective Affiliates other than payables arising under the Sublease Agreement, deferred Tax
liabilities and the current portion of long term debt, determined in accordance with the same accounting methods, practices, principles,
policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies, that were used
in the preparation of the Financial Statements for the most recent fiscal year end as if such accounts were being prepared as of
a fiscal year end.

 

    	 

    	 

    

 

“Disclosure
Schedules” means the Disclosure Schedules delivered by Seller and Buyer concurrently with the execution and delivery
of this Agreement.

 

“Dollars”
or “$” means the lawful currency of the United States.

 

“Encumbrance”
means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option,
security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including
any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Environmental
Law” means any applicable Law, and any Governmental Order or binding agreement with any Governmental Authority: (a) relating
to pollution (or the cleanup thereof) or the protection of natural resources, endangered or threatened species, human health or
safety, or the environment (including ambient air, soil, surface water or groundwater, or subsurface strata); or (b) concerning
the presence of, exposure to, or the management, manufacture, use, containment, storage, recycling, reclamation, reuse, treatment,
generation, discharge, transportation, processing, production, disposal or remediation of any Hazardous Materials. The term “Environmental
Law” includes, without limitation, the following (including their implementing regulations and any state analogs): the Comprehensive
Environmental Response, Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act
of 1986, 42 U.S.C. §§ 9601 et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery
Act of 1976, as amended by the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. §§ 6901 et seq.; the Federal Water
Pollution Control Act of 1972, as amended by the Clean Water Act of 1977, 33 U.S.C. §§ 1251 et seq.; the Toxic Substances
Control Act of 1976, as amended, 15 U.S.C. §§ 2601 et seq.; the Emergency Planning and Community Right-to-Know Act of
1986, 42 U.S.C. §§ 11001 et seq.; the Clean Air Act of 1966, as amended by the Clean Air Act Amendments of 1990, 42 U.S.C.
§§ 7401 et seq.; and the Occupational Safety and Health Act of 1970, as amended, 29 U.S.C. §§ 651 et seq.

 

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

 

“GAAP”
means United States generally accepted accounting principles in effect from time to time.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority
or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the
force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

    	 

    	 

    

 

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

 

“Hazardous
Materials” means: (a) any material, substance, chemical, waste, product, derivative, compound, mixture, solid, liquid,
mineral or gas, in each case, whether naturally occurring or manmade, that is hazardous, acutely hazardous, toxic, or words of
similar import or regulatory effect under Environmental Laws; and (b) any petroleum or petroleum-derived products, radon, radioactive
materials or wastes, asbestos in any form, lead or lead-containing materials, urea formaldehyde foam insulation, and polychlorinated
biphenyls.

 

“Intellectual
Property” means all intellectual property and industrial property rights and assets, and all rights, interests and protections
that are associated with, similar to, or required for the exercise of, any of the foregoing, however arising, pursuant to the Laws
of any jurisdiction throughout the world, whether registered or unregistered, including any and all: (a) trademarks, service marks,
trade names, brand names, logos, trade dress, design rights and other similar designations of source, sponsorship, association
or origin, together with the goodwill connected with the use of and symbolized by, and all registrations, applications and renewals
for, any of the foregoing; (b) internet domain names, whether or not trademarks, registered in any top-level domain by any authorized
private registrar or Governmental Authority, web addresses, web pages, websites and related content, accounts with Twitter, Facebook
and other social media companies and the content found thereon and related thereto, and URLs; (c) works of authorship, expressions,
designs and design registrations, whether or not copyrightable, including copyrights, author, performer, moral and neighboring
rights, and all registrations, applications for registration and renewals of such copyrights; (d) inventions, discoveries, trade
secrets, business and technical information and know-how, databases, data collections and other confidential and proprietary information
and all rights therein; (e) patents (including all reissues, divisionals, provisionals, continuations and continuations-in-part,
re-examinations, renewals, substitutions and extensions thereof), patent applications, and other patent rights and any other Governmental
Authority-issued indicia of invention ownership (including inventor’s certificates, petty patents and patent utility models);
and (f) software and firmware, including data files, source code, object code, application programming interfaces, architecture,
files, records, schematics, computerized databases and other related specifications and documentation.

 

“Knowledge
of Seller” or “Seller’s Knowledge” or
any other similar knowledge qualification, means the actual knowledge of Katherine J. Poppe (“Poppe”) and Micah
L. Camden (“Camden”).

 

“Law”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority.

 

“Losses”
means losses, damages, liabilities, deficiencies, Actions, judgments, interest, awards, penalties, fines, costs or expenses of
whatever kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and
the cost of pursuing any insurance providers; provided, however, that “Losses” shall not include consequential,
indirect, punitive and special damages, lost profits, lost revenues and the like, except in the case of intentional fraud or to
the extent actually awarded to a Governmental Authority or other third party.

 

    	 

    	 

    

 

“Material
Adverse Effect” means any event, occurrence, fact, condition or change that is, or could reasonably be expected to become,
individually or in the aggregate, materially adverse to (a) the business, results of operations, condition (financial or otherwise)
or assets of the Companies, Buyer or the Parent, as applicable, or (b) the ability of Seller, Buyer or Parent, as applicable, to
consummate the transactions contemplated hereby on a timely basis, provided, however, that “Material Adverse Effect”
shall not include any event, occurrence, fact, condition or change, directly or indirectly, arising out of or attributable to:
(i) general economic or political conditions; (ii) conditions generally affecting the industries in which the Companies, Buyer
or Parent, as applicable, operates; (iii) any changes in financial or securities markets in general; (iv) act of war (whether or
not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (v) any action required or permitted by
this Agreement except, with respect to the Companies, the failure to obtain any consent in connection with the items set forth
in  Section 3.05(c) of the Disclosure Schedules; or (vi) the public announcement, pendency
or completion of the transactions contemplated by this Agreement; provided further, however, that any event, occurrence,
fact, condition or change referred to in clauses (i) through (iv) immediately above shall be taken into account in determining
whether a Material Adverse Effect has occurred or could reasonably be expected to occur to the extent that such event, occurrence,
fact, condition or change has a disproportionate effect on the Companies, Buyer or Parent, as applicable, compared to other participants
in the industries in which the Companies, Buyer or Parent, as applicable, conducts their business.

 

“Organizational
Documents” means each Company’s articles or certificate of formation or organization, and its limited liability
company agreement or operating agreement.

 

“Partnership
Companies” means and includes Cuarto LLC, Quinto LLC, Noveno LLC, Septimo LLC and LBB LLC.

 

“Permits”
means all permits, licenses, franchises, approvals, authorizations, registrations, certificates, variances and similar rights obtained,
or required to be obtained, from Governmental Authorities.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated
organization, trust, association or other entity.

 

“Real Property”
means the real property owned, leased or subleased by any of the Companies, together with all buildings, structures and facilities
located thereon.

 

    	 

    	 

    

 

“Representative”
means, with respect to any Person, any and all managing members, managers, officers, employees, consultants, financial advisors,
counsel, accountants and other agents of such Person.

 

“S Corporation
Companies” means and includes Primero LLC, Segundo LLC, Sexto LLC, and Octavo LLC.

 

“Taxes”
means all federal, state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise,
registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise,
severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs,
duties or other taxes, fees, assessments or charges of any kind whatsoever, together with any interest, additions or penalties
with respect thereto and any interest in respect of such additions or penalties.

 

“Tax Return”
means any return, declaration, report, claim for refund, information return or statement or other document relating to Taxes, including
any schedule or attachment thereto, and including any amendment thereof.

 

“Transaction
Documents” means this Agreement, one or more assignments of the Membership Interests to Buyer (collectively, the “Assignment”)
and the Leak Out Agreement (as hereinafter defined). Additionally, for purposes of the Buyer, Poppe and Camden only, the term “Transaction
Documents” shall also include the Pledge and Security Agreement and Securities Account Control Agreement.

 

Article II

Purchase
and sale

 

Section
2.01 Purchase and Sale. Subject to the terms and conditions set forth herein, at the Closing, Seller shall sell to Buyer,
and Buyer shall purchase from Seller, all of Seller’s right, title and interest in and to the Membership Interests, free
and clear of all Encumbrances, for the consideration specified in  Section 2.02.

 

Section 2.02
Purchase Price. The aggregate purchase price for the Membership Interests shall be shall consist of following:

 

(a) Three Million
Six Hundred Thousand Dollars ($3,600,000) payable in cash by wire transfer of immediately available funds to an account or accounts
provided to the Buyer by the Seller (“Cash Consideration”); provided, however that $200,000 of the Cash Consideration
otherwise payable to accounts designated by Poppe and Camden shall be deposited in a cash and securities account in the name of
Poppe and Camden and with a financial institution reasonably acceptable to Buyer, Poppe and Camden (the “Cash and Securities
Account”) and subject to the terms of the Pledge and Security Agreement and Securities Account Control Agreement (as
each such term is defined below); and

 

    	 

    	 

    

 

(b) The number of
shares of Parent’s common stock having a cash value of Two Million Five Hundred Thousand Dollars ($2,500,000) (the “Stock
Consideration”, and together with the Cash Consideration, the “Purchase Price”), valued at a price
per share (the “Stock Consideration Price”) equal to the lesser of (i) $2.43 per share, or (ii) the average
closing price per share of the Parent’s common stock for the twenty (20) days during which trading is conducted on the NASDAQ
Stock Market immediately prior to the Closing. Notwithstanding anything to the contrary,
the aggregate number of shares of Stock Consideration shall not exceed 19.9% of either (a)
the total number of shares of Parent’s common stock outstanding on the Execution Date or Closing Date, or (b) the total voting
power of Parent’s securities outstanding on the Execution Date or Closing Date that are entitled to vote on a matter being
voted on by holders of Parent’s common stock (the “Stock Consideration
Cap”). In the event the Stock Consideration at Closing would result in Stock
Consideration in an amount in excess of the Stock Consideration Cap, Buyer shall cause Parent to issue to Seller the Stock Consideration
up to the Stock Consideration Cap and shall pay the remaining balance of Stock Consideration hereunder (the “Remaining
Balance”) in cash, based upon the value of the Stock Consideration as set forth in (i) or (ii) above, as applicable.

 

The certificates evidencing the Stock
Consideration shall bear a legend under the Securities Act of 1933, as amended (the “Securities Act”) relating
to the status of the Stock Consideration as restricted securities and will also bear a legend stating:

 

“THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR APPLICABLE STATE SECURITIES LAWS AND THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED UNLESS (I) A REGISTRATION STATEMENT COVERING
SUCH SALE OR TRANSFER IS EFFECTIVE UNDER THE ACT OR (II) THE TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE ACT, AND IF THE
ISSUER REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL.”

 

Seller covenants and
agrees to restrict its sale of the Stock Consideration pursuant to the applicable restrictions set forth in the Leak Out Agreement
annexed hereto as Exhibit A (the “Leak Out Agreement”) and the Pledge and Security Agreement and
Securities Account Control Agreement (as each such term is defined below).

 

(c) Buyer
shall distribute the Purchase Price to Seller in accordance with the allocations set forth on Annex A, provided, however,
that 

 

(i) in
the event there is a Remaining Balance, Annex A shall be deemed to be modified such that the reduction in Stock Consideration
and increase in Cash Consideration in respect of the Remaining Balance shall be allocated pro rata among the Persons constituting
Seller in proportion to the fraction of the Purchase Price allocated to each such Person on the unmodified Annex A, 

 

    	 

    	 

    

 

(ii) to the extent
indebtedness of any Company or transaction fees of Seller in respect of the transactions contemplated hereunder are payable at
the Closing, such indebtedness and fees shall be paid by Buyer on behalf of the Seller at the Closing, and the Cash Consideration
payable to each Person comprising Seller set forth in Annex A shall be reduced pro
rata in proportion to the fraction of the Purchase Price allocated to each such Person on the unmodified Annex A, 

 

(iii) Buyer
and Parent acknowledge and agree that the portion of the Purchase Price allocable to Quinto LLC will be apportioned and distributed
by Poppe and Camden in accordance with the provisions of the Letter Agreement (Quinto) entered into on or before the Closing by
and among Little Fry Limited Partnership, Quinto LLC, Rob John Cote, Renee Donna Cote, Gary Byron Rothenberger, Jr., Poppe and
Camden (the “Quinto Letter Agreement”), and that the recipients
of Stock Consideration under the Quinto Letter Agreement will have registration rights under Section 6.13 of this Agreement, and

 

(iv) the
Cash Consideration shall be paid in accordance with Section 7.03(a), and the Stock Consideration shall be delivered to the
account or accounts designated by Seller within two Business Days of the Closing Date; provided,
however, that the Stock Consideration otherwise payable to Poppe and Camden shall be delivered to the holder of the Cash and Securities
Account and subject to the terms of the Pledge and Security Agreement and Securities Account Control Agreement (as each
such term is defined below).

 

Section 2.03
Purchase Price Adjustment.

 

(a) Closing
Adjustment. 

 

(i) At least three
Business Days before the Closing, Poppe shall prepare and deliver to Buyer a statement setting forth a good faith estimate of Closing
Working Capital (the “Estimated Closing Working Capital”), which statement shall contain an estimated aggregated
balance sheet of the Companies as of the Closing Date (without giving effect to the transactions contemplated herein), a calculation
of Estimated Closing Working Capital (the “Estimated Closing Working Capital Statement”), and a certificate
of Poppe that the Estimated Closing Working Capital Statement was prepared using the same accounting methods, practices, principles,
policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies, that were used
in the preparation of the Financial Statements for the most recent fiscal year end as if such Estimated Closing Working Capital
Statement was being prepared as of a fiscal year end.

 

(ii) The “Closing
Adjustment” shall be an amount equal to the Estimated Closing Working Capital minus $185,000 (the “Target Working
Capital”). If the Closing Adjustment is less than or equal to ten percent (10%) of the Target Working Capital, then no
adjustment to the Cash Consideration shall be required. If the Closing Adjustment is a positive number and exceeds ten percent
(10%) of the Target Working Capital, the Cash Consideration shall be increased by the amount of the Closing Adjustment. If the
Closing Adjustment is a negative number and exceeds ten percent (10%) of the Target Working Capital, the Cash Consideration shall
be reduced by the amount of the Closing Adjustment.

 

    	 

    	 

    

 

(b) Post-Closing
Adjustment.

 

(i) Within 30 days
after the Closing Date, Buyer or Parent shall prepare and deliver to Poppe a statement setting forth its calculation of Closing
Working Capital, which statement shall contain an aggregated balance sheet of the Companies as of the Closing Date (without giving
effect to the transactions contemplated herein), a calculation of Closing Working Capital (the “Closing Working Capital
Statement”) and a certificate of the Chief Financial Officer of Buyer or Parent that the Closing Working Capital Statement
was prepared using the same accounting methods, practices, principles, policies and procedures, with consistent classifications,
judgments and valuation and estimation methodologies, that were used in the preparation of the Financial Statements for the most
recent fiscal year end as if such Closing Working Capital Statement was being prepared as of a fiscal year end.

 

(ii) The post-closing
adjustment shall be an amount equal to the Closing Working Capital minus the Estimated Closing Working Capital (the “Post-Closing
Adjustment”). If the Post-Closing Adjustment is less than or equal to ten percent (10%) of the Target Working Capital,
then no payments shall be required in respect of this Section 2.03(b)(ii). If the Post-Closing Adjustment is a positive number
and exceeds ten percent (10%) of the Target Working Capital, Buyer shall pay to Poppe and Camden in equal amounts an aggregate
amount equal to the Post-Closing Adjustment. If the Post-Closing Adjustment is a negative number and exceeds ten percent (10%)
of the Target Working Capital, Poppe and Camden, in equal amounts, shall pay to Buyer an aggregate amount equal to the Post-Closing
Adjustment.

 

(c) Examination
and Review.

 

(i) After receipt
of the Closing Working Capital Statement, Poppe shall have 30 days (the “Review Period”) to review the Closing
Working Capital Statement. During the Review Period, Poppe and Poppe’s accountants shall have full access to the books and
records of the Companies, the personnel of, and work papers prepared by, Buyer, Parent and the accountants of each to the extent
that they relate to the Closing Working Capital Statement and to such historical financial information (to the extent in the possession
of Buyer or Parent) relating to the Closing Working Capital Statement as Poppe may reasonably request for the purpose of reviewing
the Closing Working Capital Statement and to prepare a Statement of Objections (defined below), provided, that such access
shall be in a manner that does not interfere with the normal business operations of Buyer, Parent or the Companies.

 

(ii) On or prior to
the last day of the Review Period, Poppe may object to the Closing Working Capital Statement by delivering to Buyer a written statement
setting forth Poppe’s objections in reasonable detail, indicating each disputed item or amount and the basis for Poppe’s
disagreement therewith (the “Statement of Objections”). If Poppe fails to deliver the Statement of Objections
before the expiration of the Review Period, the Closing Working Capital Statement and the Post-Closing Adjustment, as the case
may be, reflected in the Closing Working Capital Statement shall be deemed to have been accepted by Poppe. If Poppe delivers the
Statement of Objections before the expiration of the Review Period, Buyer and Poppe shall negotiate in good faith to resolve such
objections within 30 days after the delivery of the Statement of Objections (the “Resolution Period”), and,
if the same are so resolved within the Resolution Period, the Post-Closing Adjustment and the Closing Working Capital Statement
with such changes as may have been agreed in writing by Buyer and Poppe, shall be final and binding.

 

    	 

    	 

    

 

(iii) If Poppe and
Buyer fail to reach an agreement with respect to all of the matters set forth in the Statement of Objections before expiration
of the Resolution Period, then any amounts remaining in dispute (“Disputed Amounts”) shall be submitted for
resolution to an impartial firm of independent certified public accountants appointed by Buyer and Poppe (the “Independent
Accountant”) who, acting as experts and not arbitrators, shall resolve the Disputed Amounts only and make any adjustments
to the Post-Closing Adjustment, as the case may be, and the Closing Working Capital Statement. The parties hereto agree that all
adjustments shall be made without regard to materiality. The Independent Accountant shall only decide the specific items under
dispute by the parties and their decision for each Disputed Amount must be within the range of values assigned to each such item
in the Closing Working Capital Statement and the Statement of Objections, respectively.

 

(iv) The fees and
expenses of the Independent Accountant shall be paid by Poppe and Camden in equal amounts, on the one hand, and by Buyer, on the
other hand, based upon the percentage that the amount actually contested but not awarded to Poppe and Camden or Buyer, respectively,
bears to the aggregate amount actually contested by Poppe and Buyer.

 

(v) The Independent
Accountant shall make a determination as soon as practicable within 30 days (or such other time as the parties hereto shall agree
in writing) after their engagement, and their resolution of the Disputed Amounts and their adjustments to the Closing Working Capital
Statement and/or the Post-Closing Adjustment shall be conclusive and binding upon the parties hereto.

 

(vi) Except as otherwise
provided herein, any payment of the Post-Closing Adjustment shall (A) be due (x) within five Business Days of acceptance of the
applicable Closing Working Capital Statement or (y) if there are Disputed Amounts, then within five Business Days of the resolution
described in clause (v) above; and (B) be paid by wire transfer of immediately available funds to such account or accounts as is
directed by Buyer or Poppe, as the case may be.

 

(d) Adjustments
for Tax Purposes. Any payments made pursuant to this Section 2.03 shall be treated as an adjustment to the Purchase
Price by the parties for Tax purposes, unless otherwise required by Law.

 

Section 2.04
Closing. Subject to the terms and conditions of this Agreement, the purchase and sale of the Membership Interests contemplated
hereby shall take place at a closing (the “Closing”) to be held at 10:00 a.m.,
Ruskin Moscou Faltischek, P.C., Uniondale, New York, no later than two Business Days after the last of the conditions to Closing
set forth in Article VII have been satisfied or waived, as the same may be extended by the mutual agreement of the Buyer and Poppe
and subject to Section 9.07 hereof (the day on which the Closing takes place being the “Closing
Date”).

 

    	 

    	 

    

 

Section 2.05
Payment of Sales and Transfer Taxes. Each of Seller and Buyer shall pay one half of any and all sales, use or other
transfer taxes payable by reason of the transfer and conveyance of the Membership Interests. The parties will prepare and deliver
and if necessary file at or before Closing all transfer tax returns and other filings necessary to vest in the Buyer full right,
title and interest in the Membership Interests.

 

Section 2.06
Tax Matters. The parties agree and acknowledge that the purchase and sale of the Membership Interests in the Partnership
Companies pursuant to this Agreement will be treated for US federal and applicable state income Tax purposes, pursuant to Rev Rul
99-6, 1999-1 CB 432, situation 2, as a sale of an interest in a partnership for Seller’s purposes, and as a purchase of all
of the assets of the Partnership Companies and an assumption of all of the liabilities of the Partnership Companies for Buyer’s
purposes. Seller and Buyer shall make an election under Section 338(h)(10) of the Code and any corresponding or analogous provisions
of applicable state, local or foreign tax law with respect to the purchase of the Membership Interests in the S Corporation Companies.
The Purchase Price shall be allocated for all Tax and accounting purposes among the Companies, and among the assets of the Companies,
in accordance with Section 1060 of the Code and the regulations thereunder as set forth on Annex A and Exhibit A.
Neither party shall take any position, on any Tax Return or otherwise, that is inconsistent with such allocation unless expressly
required by applicable law.

 

Article III

Representations
and warranties of seller and Companies

 

Except as set forth
in the Disclosure Schedules, each of Poppe and Camden (and, solely with respect to Section 3.01, Sections 3.03(a) and (c), and
Section 3.05, each other Person constituting the Seller, but only with respect to himself or herself and his or her Membership
Interest), severally, and not jointly, represents and warrants to the Buyer and the Parent, as of the date hereof (except as to
any representation or warranty which specifically relates to an earlier date), and as of the moment immediately prior to Closing,
as follows:

 

Section 3.01
Organization and Authority of Seller and Companies. Each of Seller and the Companies has full power and authority to
enter into this Agreement and the other Transaction Documents to which each of Seller and the Companies are a party, to carry out
its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and
delivery by Seller and the Companies of this Agreement and any other Transaction Document thereunder and the consummation by Seller
and the Companies of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the
part of Seller and the Companies. This Agreement has been duly executed and delivered by each of the Seller and the Companies,
and (assuming due authorization, execution and delivery by Buyer and Parent) this Agreement constitutes a legal, valid and binding
obligation of Seller and the Companies, enforceable against each in accordance with its terms. When each other Transaction Document
to which Seller or the Companies is or will be a party has been duly executed and delivered by Seller or the Companies (assuming
due authorization, execution and delivery by each other party thereto), such Transaction Document will constitute a legal and binding
obligation of Seller and the Companies, enforceable against it in accordance with its terms.

 

    	 

    	 

    

 

Section 3.02
Authority and Qualification of the Companies. Each Company is a limited liability company duly organized and validly
existing under the Laws of the state of Oregon and has full limited liability company power and authority to own, operate or lease
the properties and assets now owned, operated or leased by it and to carry on its business as it has been and is currently conducted.
Section 3.02 of the Disclosure Schedules sets forth each jurisdiction in which the Companies are licensed or qualified to
do business. The Companies are duly licensed or qualified to do business and are in good standing in each jurisdiction in which
the properties owned or leased by them or the operation of their business as currently conducted makes such licensing or qualification
necessary, other than those jurisdictions where the failure to be so licensed or qualified would not have a Material Adverse Effect.
All limited liability company actions taken by the Companies in connection with this Agreement and the other Transaction Documents
will be duly authorized on or prior to the Closing.

 

Section 3.03
Capitalization.

 

(a) Except as set
forth in Section 3.03 of the Disclosure Schedules, Seller is the record owner of and has good and valid title to the Membership
Interests, free and clear of all Encumbrances. The Membership Interests constitute 100% of the total issued and outstanding membership
interests in each of the Companies. The Membership Interests have been duly authorized and are validly issued, fully-paid and non-assessable.
Upon consummation of the transactions contemplated by this Agreement, Buyer shall own all of the Membership Interests, free and
clear of all Encumbrances.

 

(b) The Membership
Interests were issued in compliance with applicable Laws. Except as set forth in Section 3.03 of the Disclosure Schedules,
the Membership Interests were not issued in violation of the Organizational Documents of the Companies or any other agreement,
arrangement or commitment to which Seller or any of the Companies is a party and are not subject to or in violation of any preemptive
or similar rights of any Person.

 

(c) There are no
outstanding or authorized options, warrants, convertible securities or other rights, agreements, arrangements or commitments of
any character relating to any membership interests in any of the Companies or obligating Seller or any of the Companies to issue
or sell any membership interests (including the Membership Interests), or any other interest, in the Companies. Other than the
Organizational Documents, and except as set forth in Section 3.03 of the Disclosure Schedules, there are no voting trusts,
proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the Membership Interests.

 

Section 3.04
No Subsidiaries. Except as set forth in Section 3.04 of the Disclosure Schedules, no Company owns, or has any
interest in any shares or has an ownership interest in any other Person.

 

    	 

    	 

    

 

Section 3.05
No Conflicts; Consents. The execution, delivery and performance by Seller and the Companies of this Agreement and the
other Transaction Documents to which they are a party, and the consummation of the transactions contemplated hereby and thereby,
do not and will not: (a) conflict with or result in a violation or breach of, or default under, any provision of the Organizational
Documents of Seller or any of the Companies; (b) conflict with or result in a violation or breach of any provision of any Law or
Governmental Order applicable to Seller or any of the Companies; (c) except as set forth in Section 3.05 of the Disclosure
Schedules, require the consent, notice or other action by any Person under, conflict with, result in a violation or breach of,
constitute a default or an event that, with or without notice or lapse of time or both, would constitute a default under, result
in the acceleration of or create in any party the right to accelerate, terminate, modify or cancel any Contract to which Seller
or any of the Companies is a party or by which Seller or any of the Companies is bound or to which any of their respective properties
and assets are subject (including any Material Contract) or any Permit affecting the properties, assets or business of the Companies;
or (d) result in the creation or imposition of any Encumbrance other than Permitted Encumbrances on any properties or assets of
the Companies. No consent, approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority
is required by or with respect to Seller or any of the Companies in connection with the execution and delivery of this Agreement
and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby.

 

Section 3.06
Financial Statements. Complete copies of the Companies’ unaudited financial statements consisting of the balance
sheet of the Companies as of December 31, 2014 and the related statements of income and retained earnings for the year then ended
and unaudited financial statements consisting of the balance sheet of the Companies as of June 30, 2015 and the related statements
of income and retained earnings for the six-month period then ended (collectively, the “Financial
Statements”) have been delivered to Buyer. The Financial Statements have been prepared on a consistent basis throughout
the period involved. The Financial Statements are based on the books and records of the Companies, and fairly present the financial
condition of the Companies as of the respective dates they were prepared and the results of the operations of the Companies for
the periods indicated. The balance sheet of the Companies as of December 31, 2014 is referred to herein as the “Balance
Sheet” and the date thereof as the “Balance Sheet Date” and
the balance sheet of the Companies as of June 30, 2015 is referred to herein as the “Interim
Balance Sheet” and the date thereof as the “Interim Balance Sheet Date”.
Each Company maintains a standard system of accounting.

 

Section 3.07
Undisclosed Liabilities. The Companies have no liabilities, obligations or commitments of any nature whatsoever, asserted
or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured or otherwise (”Liabilities”),
except (a) those which are adequately reflected or reserved against in the Balance Sheet or Interim Balance Sheet, (b) those which
have been incurred in the ordinary course of business consistent with past practice since the Balance Sheet Date and which do not,
individually or in the aggregate, exceed $10,000 in amount, and (c) those listed on Section 3.07 of the Disclosure Schedules.

 

    	 

    	 

    

 

Section 3.08
Absence of Certain Changes, Events and Conditions. Except as set forth in Section 3.08 of the Disclosure Schedules,
since the Balance Sheet Date, and other than in the ordinary course of business consistent with past practice, there has not been,
with respect to the Companies, any: (a) event, occurrence or development that has had, or could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect; (b) amendment of the Organizational Documents of the Companies; (c)
any capital expenditure or commitment thereof in excess of $25,000 individually or $50,000 in the aggregate, or the making of any
loans; (d) any sale, lease, license, Encumbrance or other transfer or disposition of any assets or properties, except in the ordinary
course of the Business; (e) any forgiveness or cancellation of any debts or claims; (f) any entry into or commitment to enter into
any Material Contract or any change or amendment to any Material Contract, or any entry into any or commitment to enter into any
contract with an Affiliate of any Seller; (g) any damage, destruction or loss to the properties or assets owned, leased or used,
whether or not covered by insurance, which materially and adversely affected the operations of the Business; (h) any change in
its financial or tax accounting principles or methods, or any failure to maintain the books, accounts and records of any Company
in the usual, regular and ordinary manner on a basis consistent with prior practice; (i) any acquisition (by merger, consolidation
or acquisition of stock or assets) of any business entity or division or significant assets thereof; (j) any failure to use its
customary efforts to preserve such Company’s goodwill with suppliers, customers and others with which it has business relationships
and to maintain its business, employees, licenses and operations consistent with past practices, other than, in each case or in
the aggregate, where such failure would not have a Material Adverse Effect, or (k) any agreement to do any of the foregoing, or
any action or omission that would result in any of the foregoing.

 

Section 3.09
Material Contracts.

 

(a)
Section 3.09 of the Disclosure Schedules lists each of the following Contracts of the Companies (such Contracts, together
with all Contracts concerning the occupancy, management or operation of any Real Property (including without limitation, brokerage
contracts) listed or otherwise disclosed in  Section 3.10(a) of the Disclosure Schedules
and all Companies IP Agreements set forth in  Section 3.12(a) of the Disclosure Schedules,
being “Material Contracts”): (i) each Contract of the Companies involving aggregate consideration in excess
of $25,000 and which, in each case, cannot be cancelled by the Companies without penalty or without more than 30 days’ notice;
(ii) all Contracts that provide for the indemnification by the Companies of any Person or the assumption of any Tax, environmental
or other Liability of any Person; (iii) all Contracts that relate to the acquisition or disposition of any business, a material
amount of equity or assets of any other Person or any real property (whether by merger, sale of stock or other equity interests,
sale of assets or otherwise); (iv) all broker, distributor, dealer, manufacturer’s Representative, franchise, agency, sales
promotion, market research, marketing consulting and advertising Contracts to which any Company is a party; (v) all employment
agreements and Contracts with independent contractors or consultants (or similar arrangements) to which any Company is a party;
(vi) except for Contracts relating to trade receivables, all Contracts relating to indebtedness (including, without limitation,
guarantees) of the Companies; (vii) all Contracts with any Governmental Authority to which any Company is a party (“Government
Contracts”); (viii) all Contracts that limit or purport to limit the ability of any Company to compete in any line of
business or with any Person or in any geographic area or during any period of time; (ix) any Contracts to which any Company is
a party that provide for any joint venture, partnership or similar arrangement by the Companies; (x) all Contracts between or among
any Company on the one hand and Seller or any Affiliate of Seller (other than the Companies) on the other hand; and (xi) any other
Contract that is material to the Companies and not previously disclosed pursuant to this Section 3.09.

 

    	 

    	 

    

 

(b) Each Material
Contract is valid and binding on the Companies party to it in accordance with its terms and is in full force and effect. Except
as set forth in Section 3.09(b) of the Disclosure Schedules, none of the Companies or, to Seller’s Knowledge, any
other party thereto is in breach of or default under (or is alleged to be in breach of or default under) or has provided or received
any notice of any intention to terminate, any Material Contract. No event or circumstance has occurred that, with notice or lapse
of time or both, would constitute an event of default under any Material Contract or result in a termination thereof or would cause
or permit the acceleration or other changes of any right or obligation or the loss of any benefit thereunder. Complete and correct
copies of each Material Contract (including all modifications, amendments and supplements thereto and waivers thereunder) have
been made available to Buyer.

 

Section 3.10
Title to Assets; Real Property.

 

(a) The Companies
do not own Real Property. The Companies have a valid leasehold interest in all Real Property and own or have a valid leasehold
interest in all personal property associated with the Business and other assets reflected in the Financial Statements or acquired
after the Balance Sheet Date, other than properties and assets sold or otherwise disposed of in the ordinary course of business
consistent with past practice since the Balance Sheet Date. Except as set forth in Section 3.10(a) of the Disclosure Schedules,
all such properties and assets (including leasehold interests) are free and clear of Encumbrances.

 

(b)
 Section 3.10(b) of the Disclosure Schedules lists (i) the street address of each parcel
of Real Property; (ii) if such property is leased or subleased by the Companies, the landlord under the lease, the rental amount
currently being paid, and the expiration of the term of such lease or sublease for each leased or subleased property; and (iii)
the current use of such property. With respect to leased Real Property, Seller has delivered or made available to Buyer true, complete
and correct copies of any leases affecting the Real Property. Except as set forth in  Section
3.10(b) of the Disclosure Schedules, no Company is a sublessor or grantor under any sublease or other instrument granting to
any other Person any right to the possession, lease, occupancy or enjoyment of any leased Real Property. The use and operation
of the Real Property in the conduct of the Companies’ business do not violate in any material respect any Law, covenant,
condition, restriction, easement, license, permit or agreement. To Seller’s Knowledge, no material improvements constituting
a part of the Real Property encroach on real property owned or leased by a Person other than the Companies. There are no Actions
pending nor, to the Seller’s Knowledge, threatened against or affecting the Real Property or any portion thereof or interest
therein in the nature or in lieu of condemnation or eminent domain proceedings.

 

Section 3.11
Condition And Sufficiency of Assets. Except as set forth in Section 3.11 of the Disclosure Schedules, the buildings,
plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Companies
are structurally sound, are in good operating condition and repair, ordinary wear and tear excepted, and are adequate for the uses
to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles
and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and
repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment,
vehicles and other items of tangible personal property currently owned or leased by the Companies, together with all other properties
and assets of the Companies, are sufficient for the continued conduct of the Companies’ business after the Closing in substantially
the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the
Business of the Companies as currently conducted.

 

    	 

    	 

    

 

Section 3.12
Intellectual Property.

 

(a)
 Section 3.12(a) of the Disclosure Schedules lists all (i) Company IP Registrations
and (ii) Company Intellectual Property, including software, that are not registered but that are material to the Company’s
business or operations. All required filings and fees related to the Company IP Registrations have been timely filed with and paid
to the relevant Governmental Authorities and authorized registrars, and all Company IP Registrations are otherwise in good standing.
Seller has provided Buyer with true and complete copies of file histories, documents, certificates, office actions, correspondence
and other materials related to all Company IP Registrations.

 

(b)
 Section 3.12(b) of the Disclosure Schedules lists all Company IP Agreements. Seller
has provided Buyer with true and complete copies of all such Company IP Agreements, including all modifications, amendments and
supplements thereto and waivers thereunder. To Seller’s Knowledge, each Company IP Agreement is valid and binding on the
Companies in accordance with its terms and is in full force and effect. Neither the Companies nor, to Seller’s Knowledge,
any other party thereto, is in material breach of or material default under (or is alleged to be in breach of or default under),
or has provided or received any notice of breach or default of or any intention to terminate, any Company IP Agreement.

 

(c) Except as set
forth in Section 3.12(c) of the Disclosure Schedules, the Companies are the sole and exclusive legal and beneficial (and
with respect to the Company IP Registrations, record) owner of all right, title and interest in and to, or otherwise has the valid
right to use, all Intellectual Property used in or necessary for the conduct of the Companies’ current business or operations,
in each case, free and clear of Encumbrances other than Permitted Encumbrances.

 

(d) The consummation
of the transactions contemplated hereunder will not result in the loss or impairment of or payment of any additional amounts with
respect to, nor require the consent of any other Person in respect of, the Companies’ right to own, use or hold for use any
Intellectual Property as owned, used or held for use in the conduct of the Companies’ business or operations as currently
conducted.

 

(e) To Seller’s
Knowledge, the Companies’ rights in the Company Intellectual Property are valid, subsisting and enforceable. The Companies
has taken all commercially reasonable steps to maintain the validity of the Company Intellectual Property and to protect and preserve
the confidentiality of all trade secrets included in the Company Intellectual Property.

 

    	 

    	 

    

 

(f) To Seller’s
Knowledge, the conduct of the Companies’ business as currently and formerly conducted, and the products, processes and services
of the Companies, have not infringed, misappropriated, diluted or otherwise violated, and, to Seller’s Knowledge, do not
and will not infringe, dilute, misappropriate or otherwise violate the Intellectual Property or other rights of any Person. To
Seller’s Knowledge, no Person has infringed, misappropriated, diluted or otherwise violated, or is currently infringing,
misappropriating, diluting or otherwise violating, any Company Intellectual Property.

 

(g) There are no
Actions (including any oppositions, interferences or re-examinations) settled, pending or, to Seller’s Knowledge, threatened
(including in the form of offers to obtain a license): (i) alleging any infringement, misappropriation, dilution or violation of
the Intellectual Property of any Person by the Companies; (ii) challenging the validity, enforceability, registrability or ownership
of any Company Intellectual Property or the Companies’ rights with respect to any Company Intellectual Property; or (iii)
by the Companies or any other Person alleging any infringement, misappropriation, dilution or violation by any Person of the Company
Intellectual Property. The Companies are not subject to any outstanding or, to Seller’s Knowledge, prospective Governmental
Order (including any motion or petition therefor) that does or would restrict or impair the use of any Company Intellectual Property.

 

Section 3.13
Inventory. Except as set forth in Section 3.13 of the Disclosure Schedules, all inventory of the Companies, whether
or not reflected in the Balance Sheet, consists of a quality and quantity usable and salable in the ordinary course of business
consistent with past practice, except for obsolete, damaged, defective or slow-moving items that have been written off or written
down to fair market value or for which adequate reserves have been established. Except as set forth in Section 3.13 of the
Disclosure Schedules, all such inventory is owned by the Companies free and clear of all Encumbrances, and no inventory is held
on a consignment basis. The quantities of each item of inventory (whether raw materials, work-in-process or finished goods) are
not excessive, but are reasonable in the present circumstances of the Companies.

 

Section 3.14
Accounts Receivable. The accounts receivable reflected on the Balance Sheet and the accounts receivable arising after
the date thereof (a) have arisen from bona fide transactions entered into by the Companies involving the sale of goods or the rendering
of services in the ordinary course of business consistent with past practice; and (b) constitute only valid, undisputed claims
of the Companies not subject to claims of set-off or other defenses or counterclaims other than normal cash discounts accrued in
the ordinary course of business consistent with past practice.

 

Section
3.15 Suppliers.  Section 3.15 of the Disclosure Schedules sets forth (i)
each supplier to whom the Companies have paid consideration for goods or services rendered in an amount greater than or equal to
$25,000 during the two most recent fiscal years (collectively, the “Material Suppliers”);
and (ii) the amount of purchases from each Material Supplier during such periods. No Company has received any notice that any of
its Material Suppliers has ceased, or, to Seller’s Knowledge, intends to cease, to supply goods or services to the Companies
or to otherwise terminate or materially reduce its relationship with the Companies.

 

    	 

    	 

    

 

Section 3.16
Insurance. Section 3.16 of the Disclosure Schedules sets forth a true and complete list of all current policies or binders
of fire, liability, product liability, umbrella liability, real and personal property, workers’ compensation, vehicular,
directors’ and officers’ liability, fiduciary liability and other casualty and property insurance maintained by Seller
or its Affiliates (including the Companies) and relating to the assets, business, operations, employees, officers and managers
of the Companies (collectively, the “Insurance Policies”) and true and complete
copies of such Insurance Policies have been made available to Buyer. Such Insurance Policies are in full force and effect. Since
two (2) years prior to the Execution Date, neither the Seller nor any of its Affiliates (including the Companies) has received
any written notice of cancellation of, premium increase with respect to, or alteration of coverage under, any of such Insurance
Policies. All premiums due on such Insurance Policies have either been paid or, if due and payable prior to Closing, will be paid
prior to Closing in accordance with the payment terms of each Insurance Policy. The Insurance Policies do not provide for any retrospective
premium adjustment or other experience-based liability on the part of the Companies. All such Insurance Policies (a) are valid
and binding in accordance with their terms; (b) are provided by carriers who are financially solvent; and (c) have not been subject
to any lapse in coverage. There are no claims related to the business of the Companies pending under any such Insurance Policies
as to which coverage has been questioned, denied or disputed or in respect of which there is an outstanding reservation of rights.
None of Seller or any of its Affiliates (including the Companies) is in default under, or has otherwise failed to comply with,
in any material respect, any provision contained in any such Insurance Policy. The Insurance Policies are of the type and in the
amounts customarily carried by Persons conducting a business similar to the Companies and are sufficient for compliance with all
applicable Laws and Contracts to which the Companies is a party or by which it is bound.

 

Section 3.17
Legal Proceedings; Governmental Orders. Except as set forth in Section 3.17 of the Disclosure Schedules, there
are no Actions pending or, to Seller’s Knowledge, threatened (a) against or by the Companies affecting any of their properties
or assets (or by or against Seller or any Affiliate thereof and relating to the Companies); or (b) against or by the Companies,
Seller or any Affiliate of Seller that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated
by this Agreement. To Seller’s Knowledge, no event has occurred or circumstances exist that may reasonably be expected to
give rise to, or serve as a basis for, any such Action. There are no outstanding Governmental Orders and no unsatisfied judgments,
penalties or awards against or affecting the Companies or any of its properties or assets.

 

Section
3.18 Compliance With Laws; Permits. The Companies have complied, and are now complying, with all Laws applicable to
them or their business, properties or assets in all material respects. All material Permits required for the Companies to conduct
their business have been obtained by them and are valid and in full force and effect. All fees and charges with respect to such
Permits as of the date hereof have been paid in full.  Section 3.18 of the Disclosure
Schedules lists all current Permits issued to the Companies, including the names of the Permits and their respective dates of issuance
and expiration. No event has occurred that, with or without notice or lapse of time or both, would reasonably be expected to result
in the revocation, suspension, lapse or limitation of any Permit set forth in  Section
3.18 of the Disclosure Schedules.

 

    	 

    	 

    

 

Section 3.19
Environmental Matters. Except as disclosed in Section 3.19 of the Disclosure Schedule, (i) the Companies are
in compliance in all material respects with all Environmental Laws, (ii) to Seller’s Knowledge, there are no notices of any
suit, litigation, arbitration, hearing, investigation, dispute or other action (whether civil, criminal, administrative or investigative)
brought by or before any court, Governmental Authority or arbitration against any Company with respect to any Environmental Laws.
Notwithstanding any other provision of this Agreement to the contrary, the representations and warranties set forth in this Section
3.19 shall constitute the sole and exclusive representations and warranties made by Seller with respect to environmental matters,
and no other representation or warranty contained in any other section of this Agreement, shall be deemed to be made with respect
to environmental matters.

 

Section 3.20
Employee Benefit Matters.

 

(a) Section 3.20
of the Disclosure Schedules contains a complete and accurate list of each employee benefit plan, program, agreement or arrangement
covering employees, former employees or managers of the Companies, or providing benefits to such persons in respect of services
provided to the Companies (collectively, the “Benefit Plans”), but excluding normal payroll practices, including
the continuation of regular wage payments on account of vacation, holiday, jury duty or other like absence. Section 3.20 of
the Disclosure Schedules indicates which of the Benefit Plans is an “employee benefit plan” within the meaning of Section
3(3) of ERISA, and which of the Benefit Plans is subject to Section 302 or Title IV of ERISA. With respect to each Benefit Plan,
the Seller heretofore delivered to the Buyer an accurate and complete copy of such Benefit Plan and any amendments thereto (or
if the Benefit Plan is not a written plan, an accurate and detailed written description thereof), and, if applicable, (i) any related
trust or other funding documents, and (ii) any reports or summaries required under ERISA and the most recent determination letter
received from the Internal Revenue Service with respect to each Benefit Plan intended to qualify under section 401 of the Code.

 

Section 3.21
Employment Matters.

 

(a) Section 3.21(a)
of the Disclosure Schedules contains a list of all persons who are employees, independent contractors or consultants of the
Companies as of the date hereof, including any employee who is on a leave of absence of any nature, paid or unpaid, authorized
or unauthorized, and sets forth for each such individual the following: (i) name; (ii) title or position (including whether full
or part time); (iii) hire date; (iv) current annual base compensation rate; (v) commission, bonus or other incentive-based compensation;
and (vi) a description of the fringe benefits provided to each such individual as of the date hereof. Except as set forth in Section
3.21(a) of the Disclosure Schedules, as of the date hereof, all compensation, including wages, commissions and bonuses, payable
to all employees, independent contractors or consultants of the Companies for services performed on or prior to the date hereof
have been paid in full and there are no outstanding agreements, understandings or commitments of the Companies with respect to
any compensation, commissions or bonuses.

 

    	 

    	 

    

 

(b) No Company is,
nor has ever been, a party to, bound by, or negotiating any collective bargaining agreement or other Contract with a union, works
council or labor organization (collectively, “Union”), and there is not, and has not ever been, any Union representing
or purporting to represent any employee of the Companies, and to Seller’s Knowledge, no Union or group of employees is seeking
or has sought to organize employees for the purpose of collective bargaining. Except as set forth in Section 3.21(b) of
the Disclosure Schedules, there has never been, nor has there been any threat of, any strike, slowdown, work stoppage, lockout,
concerted refusal to work overtime or other similar labor disruption or dispute affecting the Companies or any of their employees.
The Companies have no duty to bargain with any Union.

 

(c) Except as set
forth in Section 3.21(c) of the Disclosure Schedules, the Companies are and have been in compliance with all applicable
Laws pertaining to employment and employment, including all Laws relating to labor relations, equal employment opportunities, fair
employment practices, employment discrimination, harassment, retaliation, reasonable accommodation, disability rights or benefits,
immigration, wages, hours, overtime compensation, child labor, hiring, promotion and termination of employees, working conditions,
meal and break periods, privacy, health and safety, workers’ compensation, leaves of absence and unemployment insurance.
All individuals characterized and treated by the Companies as independent contractors or consultants are properly treated as independent
contractors under all applicable Laws. All employees of the Companies classified as exempt under the Fair Labor Standards Act and
state and local wage and hour laws are properly classified. Except as set forth in Section 3.21(c) of the Disclosure Schedules,
there are no Actions against the Companies pending, or to the Seller’s Knowledge, threatened to be brought or filed, by or
with any Governmental Authority or arbitrator in connection with the employment of any current or former applicant, employee, consultant,
volunteer, intern, or independent contractor of the Companies, including, without limitation, any claim relating to unfair labor
practices, employment discrimination, harassment, retaliation, equal pay, wage and hours or any other employment related matter
arising under applicable Laws.

 

Section
3.22 Taxes. Except as set forth in  Section 3.22 of the Disclosure Schedules:

 

(a) All Tax Returns
required to be filed on or before the Closing Date by the Companies have been, or will be, timely filed. Such Tax Returns are,
or will be, true, complete and correct in all respects. All Taxes due and owing by the Companies (whether or not shown on any Tax
Return) have been, or will be, timely paid.

 

(b) The Companies
have withheld and paid each Tax required to have been withheld and paid in connection with amounts paid or owing to any employee,
independent contractor, creditor, customer, member or other party, and complied with all information reporting and backup withholding
provisions of applicable Law.

 

(c) No claim has
been made by any taxing authority in any jurisdiction where the Companies do not file Tax Returns that it is, or may be, subject
to Tax by that jurisdiction.

 

    	 

    	 

    

 

(d) No extensions
or waivers of statutes of limitations have been given or requested with respect to any Taxes of the Companies.

 

(e) Section 3.22(e)
of the Disclosure Schedules sets forth: (i) those years for which examinations by the taxing authorities have been completed; and
(ii) those taxable years for which examinations by taxing authorities are presently being conducted.

 

(f) All deficiencies
asserted, or assessments made, against the Companies as a result of any examinations by any taxing authority have been fully paid.

 

(g) No Company is
a party to any Action by any taxing authority. There are no pending or threatened Actions by any taxing authority.

 

(h) Seller has delivered
to Buyer copies of all federal, state, local and foreign income, franchise and similar Tax Returns, examination reports, and statements
of deficiencies assessed against, or agreed to by, the Companies for all Tax periods ending after December 31, 2014.

 

(i) There are no
Encumbrances for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Companies.

 

(j) No Company is
a party to, or bound by, any Tax indemnity, Tax-sharing or Tax allocation agreement.

 

Section 3.23
Books and Records. The minute books of the Companies have been made available to Buyer, are complete and correct in
all material respects and have been maintained in accordance with sound business practices. At the Closing, all of those books
and records will be in the possession of the Companies.

 

Section 3.24
Brokers’ Fees and Commissions. Except as set forth on Section 3.24 of the Disclosure Schedules, neither
the Companies nor any of their shareholders, directors, officers, employees or agents has employed any investment banker, broker,
finder or intermediary, and such no fee or other commission is owed to any third party, in connection with the transactions contemplated
herein.

 

Section 3.25
Full Disclosure. No representation or warranty by Seller in this Agreement and no statement contained in the Disclosure
Schedules to this Agreement or any certificate or other document furnished or to be furnished to Buyer pursuant to this Agreement
contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained
therein, in light of the circumstances in which they are made, not misleading.

 

    	 

    	 

    

 

Article IV

Representations
and warranties of buyer

 

Except as set forth
in the correspondingly numbered Section of the Disclosure Schedules, Buyer represents and warrants to Seller that the statements
contained in this Article IV are true and correct as of the date hereof.

 

Section 4.01
Organization and Qualification. The Buyer is a limited liability company duly organized, validly existing and in good
standing under the laws of North Carolina, with all requisite power and authority and legal right to own assets,
to lease properties, and to conduct its business as presently conducted. The Buyer has delivered to the Seller true and complete
copies of the Buyer’s Articles of Formation, and all amendments thereto, and the Buyer’s limited liability company
operating agreement, and all amendments thereto, and each as so delivered is in full force and effect. Buyer is qualified to do
business and is in good standing in each jurisdiction in which it owns assets, leases property or conducts its business, other
than those jurisdictions where the failure to be so licensed or qualified would not have a Material Adverse Effect.

 

Section 4.02
Authorization. The Buyer has full limited liability company power and authority to execute and deliver this Agreement
and to consummate the transactions contemplated herein. The execution and delivery of this Agreement and each other Transaction
Document to which Buyer is or will be a party by the Buyer and the performance by the Buyer of its obligations hereunder and thereunder
have been duly authorized by all requisite limited liability company action. This Agreement has been duly and validly executed
and delivered by the Buyer and constitutes the legal, valid and binding obligation of the Buyer, enforceable against the Buyer
in accordance with its terms, except to the extent that such enforcement may be subject to applicable bankruptcy, insolvency, or
similar laws relating to creditors’ rights and remedies generally. When each other Transaction Document to which Buyer is
or will be a party has been duly executed and delivered by Buyer (assuming due authorization, execution and delivery by each other
party thereto), such Transaction Document will constitute a legal and binding obligation of Buyer enforceable against it in accordance
with its terms.

 

Section 4.03
No Violation. Neither the execution and delivery of this Agreement and the other Transaction Documents to which it is
a party by the Buyer, nor the performance by the Buyer of its obligations hereunder and thereunder, will: (a) violate or result
in any breach of any provision of the Buyer’s Articles of Formation or limited liability company operating agreement; or
(b) violate any order, writ, judgment, injunction, decree, statute, rule or regulation of any court or Governmental Authority applicable
to the Buyer.

 

Section 4.04
Consents and Approvals. Except as listed on Section 4.04 of the Disclosure Schedules, no filing or registration
with, no notice to and no permit, authorization, consent or approval of any third party or any Governmental Authority is necessary
for the Buyer’s consummation of the transactions contemplated herein. The execution and delivery of this Agreement and the
other Transaction Documents to which it is a party by Buyer, the performance of its obligations hereunder and thereunder and the
consummation of the transaction contemplated herein will not constitute or result in (A) a breach or violation of, or a default
under, the Buyer’s Certificate of Formation or limited liability company operating agreement; (B) a breach or violation of,
a termination (or right of termination) or default under, the creation or acceleration of any obligations under, or the creation
of an Encumbrance on, any of the assets of Buyer (with or without notice, lapse of time or both) pursuant to any agreement, lease,
license, contract, note, mortgage, indenture, arrangement or other obligation binding upon Buyer, or (C) conflict with, breach
or violate any Law applicable to Buyer or by which its properties are bound or affected, except, in each case, for such violations,
defaults or impositions that would not have a Material Adverse Effect.

 

    	 

    	 

    

 

Section 4.05
Brokers’ Fees and Commissions. Except as set forth on Section 4.05 of the Disclosure Schedule, neither
the Buyer nor any of its shareholders, directors, officers, employees or agents has employed any investment banker, broker, finder
or intermediary, and such no fee or other commission is owed to any third party, in connection with the transactions contemplated
herein.

 

Section 4.06
Legal Proceedings. There are no Actions pending or, to Buyer’s knowledge, threatened against or by Buyer or any
Affiliate of Buyer that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.
No event has occurred or circumstances exist that may give rise or serve as a basis for any such Action.

 

Section 4.07
Untrue or Misleading Statements. No representation or warranty contained in this Article IV contains any untrue
statement of a material fact or omits to state a material fact required to be stated herein or necessary in order to make the statements
herein, in light of the circumstances under which they are made, not misleading.

 

Article V

Representations
and warranties of Parent

 

Except as set forth
in the correspondingly numbered Section of the Disclosure Schedules, Parent and Buyer, jointly and severally, represent and warrant
to Seller that the statements contained in this Article V are true and correct as of the date hereof.

 

Section 5.01
Organization. The Parent is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware, and has all requisite power and authority to lease its properties and to conduct its business as it is
presently conducted. The Parent is qualified to do business and is in good standing in each jurisdiction in which it owns assets,
leases property or conducts its business. The Parent has delivered to the Seller true and complete copies of the Parent’s
Certificate of Incorporation and bylaws, and all amendments thereto, and each as so delivered is in full force and effect.

 

Section 5.02
Authorization. The Parent has full power and authority to execute and deliver this Agreement and perform the transactions
contemplated by this Agreement. The Parent’s execution and delivery of this Agreement and each other Transaction Document
to which Parent is or will be a party, its performance of its obligations hereunder and thereunder and the consummation of the
transactions contemplated herein have been duly authorized by all requisite action, including, without limitation, by the Parent’s
board of directors. This Agreement has been duly and validly executed and delivered by the Parent and constitutes the legal, valid
and binding obligation of the Parent, enforceable in accordance with its terms, except to the extent that such enforcement may
be subject to applicable bankruptcy, insolvency or similar laws relating to creditors’ rights and remedies generally. When
each other Transaction Document to which Parent is or will be a party has been duly executed and delivered by Parent (assuming
due authorization, execution and delivery by each other party thereto), such Transaction Document will constitute a legal and binding
obligation of Parent enforceable against it in accordance with its terms.

 

    	 

    	 

    

 

Section 5.03
Valid Issuance. The Stock Consideration to be issued to the Seller at the Closing pursuant to Section 2.02 hereof,
when issued and delivered in accordance with the terms hereof, will be duly and validly issued, fully paid and nonassessable and
will not be subject to any option, call, preemptive, subscription or similar rights under any provision of applicable Law, the
Parent’s Certificate of Incorporation and bylaws, any stockholder or other agreement and will be free and clear of all Encumbrances.
Upon issuance, the Stock Consideration will not be subject to any voting trust agreement or other contract, agreement or arrangement
restricting or otherwise relating to the voting, dividend rights or disposition of such Equity Interests, except for restrictions
pursuant to applicable Laws and the Leak Out Agreement. Upon consummation of the transactions contemplated herein, Seller will
acquire good and valid title to the Stock Consideration.

 

Section 5.04
Consents and Approvals. Except as listed on Section 5.04 of the Disclosure Schedules, no filing or registration
with, no notice to and no permit, authorization, consent or approval of any third party or any Governmental Authority is necessary
for the Parent’s consummation of the transactions contemplated herein. The execution and delivery of this Agreement and the
other Transaction Documents to which it is a party by Parent, the performance of its obligations hereunder and the consummation
of the transaction contemplated herein will not constitute or result in (A) a breach or violation of, or a default under, the Parent’s
Certificate of Incorporation and bylaws; (B) a breach or violation of, a termination (or right of termination) or default under,
the creation or acceleration of any obligations under, or the creation of an Encumbrance on, any of the assets of Parent (with
or without notice, lapse of time or both) pursuant to any agreement, lease, license, contract, note, mortgage, indenture, arrangement
or other obligation binding upon Parent; (C) conflict with, breach or violate any Law applicable to Parent or by which its properties
are bound or affected, except, in each case, for such violations, defaults or impositions that would not have a Material Adverse
Effect; or (D) violate any order, writ, judgment, injunction, decree, statute, rule or regulation of any court or Governmental
Authority applicable to Parent.

 

Section 5.05
Brokers’ Fees and Commissions. Except as set forth on Section 5.05 of the Disclosure Schedule, neither
the Parent nor any of its directors, officers, employees or agents has employed any investment banker, broker, finder or
intermediary, and no fee or other commission is owed to any third party, in connection with the transactions contemplated
herein.

 

Section 5.06
Capitalization. As of the date of this Agreement,
the Parent is authorized to issue 45,000,000 shares of common stock, of which 14,237,581
shares are issued and outstanding as of immediately prior to the Closing. All issued and outstanding shares of capital stock of
the Parent have been duly authorized, validly issued, fully paid and nonassessable and were issued in compliance with all
applicable Laws concerning the issuance of securities. At the Closing, Parent will have
sufficient authorized but unissued shares or treasury shares of the Parent’s common stock for Buyer and Parent to meet their
obligations to deliver the Stock Consideration under this Agreement. Parent owns all of the Equity
Interests of the Buyer. “Equity Interests” means (i) any capital stock of a corporation, any partnership
interest, any limited liability company interest or any other equity interest; (ii) any security or right convertible into, exchangeable
for, or evidencing the right to subscribe for, any such stock, equity interest or security referred to in clause (i); (iii) any
stock appreciation right, contingent value right or similar security or right that is derivative of any such stock, equity interest
or security referred to in clause (i) or (ii); and (iv) any contract to grant, issue, award, convey or sell any of the foregoing.

 

    	 

    	 

    

 

Section 5.07
Dividends and Repurchases. Since December 31, 2014 and through the date hereof, Parent has not made any declaration,
setting aside or payment of any dividend or other distribution with respect to any shares of the Parent’s common stock or
any repurchase or other acquisition by Parent of any outstanding shares of Parent’s common stock or any agreement or other
commitment related to any of the foregoing.

 

Section 5.08
Absence of Certain Changes. Since December 31, 2014 and prior to the date hereof, Parent has conducted its business
only in, and has not engaged in any material transaction other than in accordance with, the ordinary course of such business consistent
with past practice, and there has not been any: (i) merger or consolidation between Parent or any of its subsidiaries with any
other Person, except for any such transactions among wholly-owned subsidiaries of Parent, or any restructuring, reorganization
or complete or partial liquidation or similar transaction or the entry into any agreements or arrangements imposing material changes
or restrictions on its assets, operations or businesses; (ii) material damage, destruction or other casualty loss with respect
to any material asset, or property otherwise used by Parent or any of its subsidiaries, whether or not covered by insurance which
is expected to have, either individually or in the aggregate, a Material Adverse Effect on the Parent’s business; (iii) material
change in any method of financial accounting or accounting practice by the Parent or any of its subsidiaries, except for any such
change required by changes in GAAP or applicable Law; (iv) agreement to do any of the foregoing; or (vii) any effect that is, or
could reasonably be expected to become, individually or in the aggregate, materially adverse to (a) the business, results of operations,
condition (financial or otherwise) or assets of the Parent or any of its subsidiaries, or (b) the ability of Parent or Buyer to
consummate the transactions contemplated hereby on a timely basis.

 

Section 5.09
Parent SEC Reports; Financial Statements. Parent has filed all reports, schedules, forms, statements and other documents
required to be filed by it under the Exchange Act of 1934, as amended (the “1934 Act”) (and the rules promulgated
by the SEC thereunder) including pursuant to Section 13(a) or 15(d) thereof, for the twelve months preceding the date hereof (the
foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred
to herein as the “SEC Documents”), on a timely basis or has received a valid extension of such time of filing
and has filed any such SEC Documents prior to the expiration of any such extension. As of their respective filing dates, the SEC
Documents complied in all material respects with the requirements of the Securities Act and the 1934 Act and the rules and regulations
of the SEC promulgated thereunder, and none of the SEC Documents, 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. None of the statements made in any such SEC Documents is, or has
been, required to be amended or updated under applicable Law (except for such statements as have been amended or updated in subsequent
filings prior the date hereof). As of their respective dates, the financial statements of Parent included in the SEC Documents
complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of
the SEC with respect thereto. Such financial statements have been prepared in accordance with GAAP, consistently applied, during
the periods involved and fairly present in all material respects the consolidated financial position of Parent and its consolidated
subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods then ended
(subject, in the case of unaudited statements, to normal year-end audit adjustments). Parent is subject to the reporting requirements
of the 1934 Act.

 

    	 

    	 

    

 

Section 5.10
Sufficiency of Funds. On August 14, 2015 and continuously through the Closing, Parent shall have sufficient cash (or
other sources of immediately available funds) on hand to either make payment of the Cash Consideration on behalf of Buyer, or contribute
to Buyer to enable Buyer to make payment of the Cash Consideration, in either case enabling Buyer to consummate the transactions
contemplated by this Agreement.

 

Article VI

Covenants

 

Section 6.01
Conduct of the Business Prior to the Closing. During the period from the Execution Date and continuing until the Closing
Date, Seller agrees that, except as expressly contemplated or permitted by this Agreement or to the extent that the Buyer shall
otherwise consent in writing, Seller shall carry on the Business in the usual, regular and ordinary course in substantially the
same manner as heretofore conducted in all material respects. Without limiting the generality of the foregoing, prior to the Closing,
and except as expressly contemplated or permitted by this Agreement, the Seller will not, without the prior written consent of
the Buyer, take any action that would cause the representations and warranties set forth in Section 3.08 to be untrue.

 

Section 6.02
Access to Information. During the period from the Execution Date and continuing until the Closing, at all reasonable
times during regular business hours and without causing unreasonable disruption to the Business, the Seller shall give the Buyer
and its authorized Representatives full access to all personnel, offices and other facilities, and to all books and records of
the Sellers (including, without limitation, Tax Returns and accounting work papers) and will permit the Buyer to make, and will
fully cooperate with regard to, such inspections in order to conduct, among other things, interviews of individuals and visual
inspections of facilities as the Buyer may reasonably require and will fully cooperate in such interviews and inspections and will
cause the Sellers’ officers to furnish to the Buyer such financial and operating data and other information with respect
to the Business as the Buyer may from time to time reasonably request.

 

    	 

    	 

    

 

Section 6.03
Maintenance of Employee and Customer Relations. During the period from the Execution Date and continuing until the Closing,
the Companies and the Seller shall use reasonable commercial efforts to retain the services and goodwill of the employees of the
Business and to maintain the goodwill of its customers, and shall not take, nor permit any manager, officer, employee, agent or
independent contractor of the Seller to take, any action with respect to its customers, which action is intended to cause its customers
to terminate or substantially diminish their business dealings with the Sellers which action is in contravention of the foregoing
requirements. The foregoing notwithstanding, the Companies may terminate any employee, agent or independent contracts in the ordinary
course of business.

 

Section 6.04
All Reasonable Efforts. Subject to the terms and conditions herein provided, each of the parties hereto agrees to use
all reasonable efforts to take, or cause to be taken, all action, and to do, or cause to be done as promptly as practicable, all
things necessary, proper and advisable (except, with respect to Seller and the Companies, matters requiring the payment of cash
or other consideration to any Person) under applicable laws and regulations to consummate the transactions contemplated by this
Agreement including, without limitation, fulfillment of the Conditions of Closing set forth in Article VII hereof. If at
any time after the Closing any further action is necessary or desirable to carry out the purposes of this Agreement including,
without limitation, the execution of additional instruments, the proper officers and directors of the Buyer and the Seller shall
take all such necessary action.

 

Section 6.05
Consents and Approvals. The parties hereto each will cooperate with one another and use all reasonable efforts (except,
with respect to Seller and the Companies, matters requiring the payment of cash or other consideration to any Person) to prepare
all necessary documentation to effect promptly all necessary filings and to obtain all necessary permits, consents, approvals,
orders and authorizations of or any exemptions by, all third parties and Governmental Authorities necessary to consummate the transactions
contemplated herein. In connection therewith, Buyer and Parent shall take all reasonable actions to cause Poppe and Camden to be
released from their guaranties of the obligations of the Companies under the real property leases set forth in Section 3.09
of the Disclosure Schedules (the “Leases”). Buyer and Parent acknowledge and agree that the “reasonable
actions” described in the immediately prior sentence shall include the execution and delivery by Parent of one or more guaranties,
on reasonable commercial terms determined by Parent in its reasonable discretion, of such obligations, if so requested by any landlord
under the Leases.

 

Section 6.06
Public Announcements. Except as may be required by applicable law or based upon the advice of counsel that such disclosure
is required under applicable securities laws, the Buyer and Poppe will consult with each other and will mutually agree upon the
content and timing of any press releases or other public statements with respect to the transactions contemplated by this Agreement
and Buyer and Seller shall not issue any such press release or make any such public statement prior to such consultation and agreement.
Notwithstanding the foregoing, Buyer and Seller agree and acknowledge that Parent shall file a Current Report on Form 8-K with
the Securities and Exchange Commission within four (4) business days from the execution of this Agreement which shall contain an
announcement of the transactions contemplated by this Agreement and shall include a copy of this Agreement as an exhibit thereto.

 

    	 

    	 

    

 

Section 6.07
Confidentiality. Neither the Buyer nor the Seller shall use, publish, or disclose to any other person any confidential
or proprietary information relating to the Business or the transactions contemplated by this Agreement; provided, however,
that the foregoing restrictions shall not apply to information: (a) that is necessary to enforce the rights of the Seller under,
or defend against a claim asserted under, this or any other agreement with the Buyer or Parent, (b) that is necessary or appropriate
to disclose to any Governmental or Regulatory Authority having jurisdiction over the Seller, or as otherwise required by law, (c)
that becomes generally known other than through a breach of any obligation of confidentiality by Seller or Buyer, or (d) that is
necessary or appropriate in the ordinary course of each of the Seller’s business. The Buyer acknowledges that the Seller,
and the Seller acknowledges that the Buyer, does not have an adequate remedy at law for the breach of this Section 6.07 and
that, in addition to any other remedies available, injunctive relief may be granted for any such breach.

 

Section 6.08
Disclosure Supplements. Prior to the Closing, each party to this Agreement will promptly supplement or amend the Disclosure
Schedules with respect to any matter heretofore existing or hereafter arising which, if existing, occurring or known at the date
of this Agreement, would have been required to be set forth or described in such Disclosure Schedules or which is necessary to
correct any information in such Disclosure Schedules which has been rendered inaccurate thereby. Solely for purposes of determining
the accuracy of the representations and warranties of the Seller contained in Article III hereof in determining satisfaction
of the conditions to closing set forth in Section 7.02 hereof, the Disclosure Schedules delivered by the Sellers shall be
deemed to include only that information contained therein on the date of this Agreement and shall be deemed to exclude any information
contained in any subsequent supplement or amendment thereto.

 

Section 6.09
Restrictions on Transfer. The Seller agrees that prior to a termination under this Agreement pursuant to Section
9.07 and Section 9.08 hereof, it will not directly or indirectly sell, assign, transfer, give, pledge, encumber or otherwise
dispose of any portion of the assets of the Business (other than in the ordinary course) or the Membership Interests and the Seller
further agrees not to enter into any agreement relating to these matters or to conduct any discussions related to any of these
matters. The foregoing sentence notwithstanding, Poppe and Camden may take all actions necessary or convenient to effect the assignment
and transfer of Membership Interests from Poppe to Camden in accordance with the Stipulated General Judgment of Dissolution of
Marriage in In the Matter of the Marriage of: Katherine Jane Camden and Micah Lael Camden, Case No. 15DR09647, dated July
17, 2015.

 

Section 6.10
No Solicitation of Transaction. The Seller shall not, and shall use its best efforts to cause its Representatives not
to, directly or indirectly, take any of the following actions with any person other than the Buyer without the prior written consent
of the Buyer: (A) solicit, initiate, facilitate, engage in or encourage, or furnish information with respect to the Seller, in
connection with, any inquiry, proposal or offer with respect to any merger, consolidation or other business combination involving
the Seller or the acquisition of all or a substantial portion of the assets of, or any securities of, the Seller (an “Alternative
Transaction”); (B) negotiate, discuss, explore or otherwise communicate or cooperate in any way with any third party
with respect to any Alternative Transaction; or (C) enter into any agreement, arrangement or understanding with respect to an Alternative
Transaction or requiring the Seller to abandon, terminate or refrain from consummating a transaction with the Buyer. In addition
to the other obligations under this Section 6.10, Seller shall promptly (and in any event within two Business Days after
receipt thereof by Seller or its Representatives) advise Buyer orally and in writing of any Acquisition Proposal, any request for
information with respect to any Acquisition Proposal, or any inquiry with respect to or which could reasonably be expected to result
in an Acquisition Proposal and the material terms and conditions of such request, Acquisition Proposal or inquiry. Seller agrees
that the rights and remedies for noncompliance with this Section 6.10 shall include having such provision specifically enforced
by any court having equity jurisdiction, it being acknowledged and agreed that any such breach or threatened breach shall cause
irreparable injury to Buyer and that money damages would not provide an adequate remedy to Buyer.

 

    	 

    	 

    

 

Section 6.11
No Trading. To Seller’s Knowledge, none of Companies’ members, directly or indirectly, and no person acting
on behalf of or pursuant to any understanding with them, shall engage at or prior to Closing, nor has engaged, in any transactions
in the securities of the Parent (including, without limitation, any short sales involving any of Parent’s securities) since
the time that the Seller was first contacted by the Parent, any of Parent’s Representatives or any other person regarding
Buyer’s acquisition of the Membership Interests.

 

Section
6.12 Financial Statements. Seller shall reasonably assist Parent in the
preparation of audited financial statements by PCAOB approved auditors selected and engaged by Parent relating to the Financial
Statements, at Buyer’s sole expense, with such audited financial statements being completed no later than sixty (60) days
after the Closing. Seller shall provide any and all information reasonably requested by Parent and reasonably available, or that
may become reasonably available, to Seller in order to assist the Parent in filing a Current Report on Form 8-K which shall include
the Companies’ financial statements to be audited by Buyer at its expense after Closing.

 

Section 6.13 Registration
Rights.

 

(a) Parent shall
file a registration statement on Form S-3, or in the event the Parent is not eligible to use Form S-3, on Form S-1 (the “Registration
Statement”) within twenty (20) days of the Closing Date for the purpose of registering under the Securities Act the resale
of all, or such portion as permitted by SEC Guidance (and Parent shall use its best efforts to advocate with the SEC for the registration
of all or the maximum number of shares of the Stock Consideration as permitted by SEC Guidance) of the Stock Consideration by,
and for the account of, the Seller as a selling stockholder thereunder (including after giving effect to Section 2.02(c)(iii)),
that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to
Rule 415; provided, however that the Seller and all applicable selling stockholders under such Registration Statement shall have
provided responses to questionnaires provided by the Company relating to the registration of the Stock Consideration, and provided
further, that if the Registration Statement provides for the registration of less than all of the Stock Consideration, Parent shall
include in such Registration Statement (and any subsequent registration statement registering shares of the Parent’s capital
stock), as first priority, the Stock Consideration, before including any other shares of the Parent’s capital stock. Parent
shall use its best efforts to cause such Registration Statement to be declared effective by the SEC under the Securities Act as
promptly as practicable after the filing thereof. For purposes of this Section 6.13, SEC Guidance means (i) any publicly-available
written guidance, or rule of general applicability of the SEC staff, or (ii) oral or written comments, requirements or requests
of the SEC staff to the Company in connection with the review of a Registration Statement.

 

    	 

    	 

    

  

(b)
Parent shall be required to keep the Registration Statement current and effective until such date that is the earlier of (the
“Effectiveness Period”) (i) the date as of which Seller as a selling stockholder thereunder may sell all of
the Stock Consideration without restriction pursuant to Rule 144, or (ii) the date when all of the Stock Consideration shall have
been sold, or (iii) two (2) years from the effective date of the Registration Statement. Thereafter, Parent shall be entitled
to withdraw such Registration Statement and the Seller shall have no further right to offer or sell any of the Stock Consideration
pursuant to the Registration Statement (or any prospectus relating thereto).

 

(c)
Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of shares of
Parent’s capital stock to be registered in the Registration Statement (and Parent has used its best efforts to advocate
with the SEC for the registration of all or the maximum number of shares of Stock Consideration), the number of shares of Parent
common stock represented by the Stock Consideration to be registered on such Registration Statement will be reduced on a pro rata
basis among the Persons constituting Seller based on the total number of unregistered shares held by such Sellers. The Parent
shall file a new registration statement as soon as reasonably practicable covering the resale by the Sellers of not less than
the number of shares of such Stock Consideration that are not registered in the Registration Statement.

 

(d)
Seller agrees to cooperate with the Parent as reasonably requested by the Parent in connection with the filing of the Registration
Statement, unless Seller has notified the Parent in writing that such Seller elects to exclude all of its Stock Consideration
from such Registration Statement.

 

(e)
All expenses incurred by Parent in complying with its obligations pursuant to this Section 6.13 and in connection with
the registration and disposition of the Stock Consideration shall be paid by Parent, including, without limitation, all (i) registration
and filing fees (including, without limitation, any fees relating to filings required to be made with any securities exchange
or over-the-counter trading market on which the Stock Consideration is listed or quoted); (ii) expenses of any audits incident
to or required by any such registration; (iii) fees and expenses of complying with securities and “blue sky” laws;
(iv) fees and expenses of Parent’s counsel and accountants; and (v) Financial Industry Regulatory Authority, Inc. filing
fees (if any).

 

(f)
Parent hereby indemnifies and holds harmless, to the fullest extent permitted by law, Seller and Seller’s officers, directors,
managers, members, partners, and Affiliates, and each underwriter, broker or any other Person acting on behalf of such Seller,
against all losses, claims, actions, damages, liabilities and expenses, joint or several, to which any of the foregoing Persons
may become subject under the Securities Act or otherwise, insofar as such losses, claims, actions, damages, liabilities or expenses
arise out of or are based upon any untrue or alleged untrue statement of a material fact contained in the Registration Statement
or any filing made in connection therewith or any amendment thereof or supplement thereto or any omission or alleged omission
of a material fact required to be stated therein or necessary to make the statements therein not misleading; and shall reimburse
such Persons for any legal or other expenses reasonably incurred by any of them in connection with investigating or defending
any such loss, claim, action, damage or liability, except insofar as the same are caused by or contained in any information furnished
in writing to Parent by Seller expressly for use therein or by Seller’s failure to deliver a copy of the Registration Statement,
prospectus, preliminary prospectus, free writing prospectus (as defined in Rule 405 under the Securities Act or any successor
rule thereto) or any amendments or supplements thereto (if the same was required by applicable law to be so delivered). This indemnity
shall be in addition to any liability Parent may otherwise have.

 

    	 

    	 	 	 

    

 

(g)
Seller hereby indemnifies and holds harmless, Parent, each director of Parent and each officer of Parent who shall sign the Registration
Statement against any losses, claims, actions, damages, liabilities or expenses resulting from any untrue or alleged untrue statement
of material fact contained in the Registration Statement or any filing made in connection therewith or any amendment thereof or
supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information
so furnished in writing by Seller; provided, that the obligation to indemnify shall be several, not joint and several,
for each Person constituting Seller and shall not exceed an amount equal to the net proceeds (after commissions or discounts)
actually received by such Person from the sale of Stock Consideration pursuant to such Registration Statement. This indemnity
shall be in addition to any liability Seller may otherwise have.

 

(h)
In the event of Parent’s material noncompliance with its obligations under this Section 6.13 (a “Registration
Breach”), Parent shall pay to Poppe and Camden in equal amounts an aggregate amount equal to $500 for each day a Registration
Breach continues (the “Liquidated Damages”). The parties intend that the Liquidated Damages constitute compensation,
and not a penalty. The parties acknowledge and agree that Seller’s harm caused by a Registration Breach would be impossible
or very difficult to accurately estimate as of the Execution Date, and that the Liquidated Damages are a reasonable estimate of
the anticipated or actual harm that might arise from a Registration Breach. Parent’s payment of the Liquidated Damages is
in addition to any other remedy that Seller may have under this Agreement or applicable Law. Notwithstanding the foregoing, no
Liquidated Damages shall be owed to Poppe and Camden with respect to any period during which the Stock Consideration may be sold
by Seller under Rule 144 or, to the extent Parent has previously paid to Poppe and Camden an aggregate of Liquidated Damages equal
to or in excess of 100% of the value of the Stock Consideration as of the Closing Date.

 

Section
6.14 Further Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective
Affiliates to, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions
as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

 

    	 

    	 	 	 

    

 

Section
6.15 Notice of Certain Events.

 

(a)
From the date hereof until the Closing, Seller shall promptly, but in no event later than four (4) business days, notify Buyer
in writing of: (i) any fact, circumstance, event or action the existence, occurrence or taking of which (A) has had, or could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (B) has resulted in, or could reasonably
be expected to result in, any representation or warranty made by Seller hereunder not being true and correct or (C) has resulted
in, or could reasonably be expected to result in, the failure of any of the conditions set forth in Section 7.02 to be
satisfied; (ii) any notice or other communication from any Person alleging that the consent of such Person is or may be required
in connection with the transactions contemplated by this Agreement and such requirement is not already disclosed by Seller in
the Disclosure Schedules; (iii) any notice or other communication from any Governmental Authority in connection with the transactions
contemplated by this Agreement; and (iv) any Actions commenced or, to Seller’s Knowledge, threatened against, relating to
or involving or otherwise affecting Seller or any Company that, if pending on the date of this Agreement, would have been required
to have been disclosed pursuant to Section 3.17 or that relates to the consummation of the transactions contemplated by
this Agreement.

 

(b)
Buyer’s receipt of information pursuant to this Section 6.15 shall not operate as a waiver or otherwise affect any
representation, warranty or agreement given or made by Seller in this Agreement (including Section 8.02 and Section
9.01) and shall not be deemed to amend or supplement the Disclosure Schedules.

 

Section
6.16 Non-Solicitation.

 

(a)
For a period of 1 year commencing on the Closing Date (the “Restricted Period”), Seller shall not, and shall
not permit any of its Affiliates to, directly or indirectly, hire or solicit any employee of the Companies or encourage any such
employee to leave such employment or hire any such employee who has left such employment, except pursuant to a general solicitation
which is not directed specifically to any such employee; provided, that nothing in this Section 6.16(a) shall prevent
Seller or any of its Affiliates from hiring or employing (i) any employee whose employment has been terminated by the Companies
or Buyer; (ii) after 30 days from the date of termination of employment, any employee whose employment has been terminated by
the employee; or (iii) any employee listed in Section 6.16 of the Disclosure Schedules.

 

(b)
Seller acknowledges that a breach or threatened breach of this Section 6.16 would give rise to irreparable harm to Buyer,
for which monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach
by Seller of any such obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to
it in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, specific
performance and any other relief that may be available from a court of competent jurisdiction (without any requirement to post
bond).

 

    	 

    	 	 	 

    

 

(c)
Seller acknowledges that the restrictions contained in this Section 6.16 are reasonable and necessary to protect the legitimate
interests of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions
contemplated by this Agreement. In the event that any covenant contained in this Section 6.16 should ever be adjudicated
to exceed the time, geographic, product or service, or other limitations permitted by applicable Law in any jurisdiction, then
any court is expressly empowered to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction to
the maximum time, geographic, product or service, or other limitations permitted by applicable Law. The covenants contained in
this Section 6.16 and each provision hereof are severable and distinct covenants and provisions. The invalidity or unenforceability
of any such covenant or provision as written shall not invalidate or render unenforceable the remaining covenants or provisions
hereof, and any such invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant
or provision in any other jurisdiction.

 

Section
6.17 Other Covenants.

 

(a)
After the Closing, Buyer and Parent shall reasonably cooperate, at Seller’s expense, with Seller’s defense of the
Action set forth on Section 3.17 of the Disclosure Schedules (the “Employment Litigation”) and all matters
related thereto and arising therefrom, including without limitation providing all information relating to the Employment Litigation
reasonably requested by Seller or its Representatives and reasonably available to Parent or Buyer, and causing the Representatives
of Buyer and Parent to take part in matters related to the Employment Litigation (including without limitation depositions and
court hearings) upon Seller’s request at all reasonable times.

 

(b)
Buyer and Parent, based on their reasonable determination, shall, at Seller’s expense, seek payment under all insurance
policies in favor of any Company for which such Company may reasonably be entitled to payment in respect of or in connection with
the Employment Litigation (the “Employment Insurance Policies”). Buyer and Parent hereby grant Seller
the right, in the name of and on behalf of any Company and at Seller’s sole discretion and expense, to bring suit claiming
a right to such payment under the Employment Insurance Policies against any party. In the event of the receipt by the Companies,
Parent or Buyer of insurance proceeds in respect of or in connection with the Employment Litigation following the Closing Date,
the recipient shall promptly pay over such proceeds to Poppe and Camden in equal amounts.

 

(c)
Buyer and Parent shall cause the Companies to execute and deliver a joint defense letter, reasonably acceptable to Buyer, Parent,
Poppe, Camden and their Representatives, permitting Stoel Rives LLP to jointly represent Poppe, Camden and the Companies after
the Closing with respect to the Employment Litigation, and providing for Poppe and Camden to control the defense, settlement and
other post-Closing actions taken in connection with the Employment Litigation.

 

Section
6.18 Appointment of Seller Representatives. Each Person comprising Seller hereby appoints Poppe and Camden to serve as the
seller representative to act on their collective behalf with respect to all matters within the scope of this Agreement, and Poppe
and Camden hereby accept such appointment. All decisions of Poppe and Camden with respect to the subject matter of this Agreement
shall be binding on each person comprising Seller.

 

    	 

    	 	 	 

    

 

Article VII

Conditions to closing

 

Section
7.01 Conditions to Each Party’s Obligations under this Agreement. Each party’s obligations under Article
II of this Agreement shall be subject to each of the parties having obtained any and all approvals, consents, licenses, permits
and authorizations from Governmental Authorities, if any, in form and substance satisfactory to the other Party, necessary to
permit such party to perform its obligations hereunder, to consummate the transactions contemplated herein, and to continue to
conduct the Business as presently conducted and in accordance with applicable Law.

 

Section
7.02 Conditions to the Obligations of the Buyer. The Buyer’s obligations under this Agreement shall be further
subject to the satisfaction or to the waiver by the Buyer of the following conditions precedent:

 

(a)
Performance of Obligations of Sellers. Each of the Seller’s pre-Closing obligations shall have been duly performed
in all material respects, and each of the representations and warranties of the Seller contained in this Agreement shall be true
and correct in all material respects, as of the Execution Date and as of the Closing as if made immediately prior to the Closing
(except as to any representation or warranty which specifically relates to another date), except where such failure to perform
or be true and correct shall not have a Material Adverse Effect.

 

(b)
Member’s Certificate. The Buyer shall have received from Poppe in her capacity as a Member of each of the Companies,
in a form reasonably satisfactory to the Buyer, a certificate enclosing the filed Articles of Organization and limited liability
company operating agreement of each such Person, and if requested by Buyer, a resolution authorizing all of the transactions contemplated
herein by each Seller, and evidence of valid existence of each Company dated as of a date reasonably close to the Closing Date.

 

(c)
Closing Certificate. The Buyer shall have received a certificate from Poppe and Camden, in a form reasonably satisfactory
to the Buyer, that the representations and warranties of the Seller set forth in Article III hereof are true and accurate as of
the Execution Date and as of the Closing Date.

 

(d)
Financial Statements. The Seller shall have delivered to the Buyer the Financial Statements.

 

(e)
Leak Out Agreement. Each Person comprising Seller shall have duly executed a Leak Out Agreement.

 

    	 

    	 	 	 

    

 

(f)
Contract Consents. Any and all requisite consents, waivers or authorizations from third parties with respect to Material
Contracts required for the transaction contemplated by this Agreement shall have been obtained without any adverse effect on the
terms of such contracts.

 

(g)
Other Documents. The Buyer shall have received any such other documents or other materials it may reasonably request to
consummate the transactions contemplated herein.

 

(h)
Assignment. Buyer shall have received the Assignment, executed by Seller, in form and substance reasonably satisfactory
to Buyer.

 

(i)
Regulatory Approval. Parent shall have received approval of the transactions contemplated by this Agreement, if required,
by Nasdaq.

 

(j)
Pledge and Security Agreement. Poppe and Camden shall have duly executed a pledge and security agreement, in form
and substance reasonably acceptable to Buyer, Poppe and Camden, granting a security interest in favor of Buyer in the Cash and
Securities Account and securing the obligations of Poppe and Camden under Section 8.02(b) (the “Pledge and Security Agreement”).

 

(k)
Securities Account Control Agreement. Poppe, Camden and the holder of the Cash and Securities Account shall have duly executed
a securities account control agreement, in form and substance reasonably acceptable to Buyer, Poppe and Camden (the “Securities
Account Control Agreement”), perfecting Buyer’s security interest in the Cash and Securities Account and providing
that, without Buyer’s written consent, (i) Poppe and Camden shall not transfer cash or securities from the Cash and Securities
Account other than to satisfy their payment obligations under Section 8.02(b) until such time as a settlement order or judgment
has been entered by a court of competent jurisdiction with respect to the Employment Litigation (the “Employment Litigation
Order”), and (ii) Seller Indemnitors may, after the entry of the Employment Litigation Order but prior to Seller Indemnitors’
full discharge of their payment obligations under Section 8.02(b), make such transfers, but only (y) to satisfy their payment
obligations under Section 8.02(b) or (z) if not to satisfy their payment obligations under Section 8.02(b), to the extent that
the cash balance in the Cash and Securities Account after giving effect to such transfer will be equal to or greater than the
amount remaining payable by defendants under the Employment Litigation Order or pursuant to Section 8.02(b).

 

Section
7.03 Conditions to the Obligations of the Seller. The Sellers’ obligations under Article II of this Agreement
shall be further subject to the satisfaction or to the waiver by the Seller of the following conditions precedent:

 

(a)
Purchase Price. Seller shall have received (i) the Cash Consideration (plus the Remaining Balance, if any) by wire transfer
in immediately available funds to the account or accounts designated by Seller pursuant to Section 2.02 above or to the Cash and
Securities Account, as applicable, and (ii) evidence of instructions for delivery of the Stock Consideration (adjusted for the
Remaining Balance, if any) to the account or accounts designated by Seller or to the Cash and Securities Account, as applicable.

 

    	 

    	 	 	 

    

 

(b)
Performance of Obligations of the Buyer. Each of the pre-Closing obligations of the Buyer and the Parent shall have been
duly performed, and the representations and warranties of the Buyer and the Parent contained in this Agreement shall be true and
correct in all material respects as of the Execution Date and as of the Closing Date as though made immediately prior to the Closing
(except as to any representation or warranty which specifically relates to another date).

 

(c)
Secretary’s Certificates. The Seller shall have received from the Secretary of the Buyer and from the Secretary of
the Parent, in a form reasonably satisfactory to the Seller, certificates enclosing the filed Article of Incorporation or Articles
of Organization and bylaws or limited liability company operating agreement (in each case, as applicable) of Buyer and of Parent,
the resolutions authorizing all of the transactions contemplated herein, and good standing certificates of the Buyer and the Parent,
respectively, dated as of a date reasonably close to the Closing Date.

 

(d)
Officer’s Certificates. The Seller shall have received certificates from an officer of the Buyer and from an officer
of the Parent, respectively, in a form reasonably satisfactory to the Seller, that the representations and warranties of the Buyer
and Parent set forth in Article IV and Article V hereof are true and accurate as of the execution hereof and as of the Closing
Date

 

(e)
Other Documents. The Seller shall have received from the Buyer any such other documents or other materials as the Seller
may reasonably request to consummate the transactions contemplated herein.

 

(f)
Pledge and Security Agreement. Buyer shall have duly executed the Pledge and Security Agreement.

 

(g)
Securities Account Control Agreement. Buyer and the holder of the Cash and Securities Account shall have duly executed
the Securities Account Control Agreement.

 

Article VIII

Indemnification

 

Section
8.01 Survival. All representations, warranties, covenants and agreements contained in this Agreement shall be deemed
to have been relied upon by the parties hereto, and shall survive the Closing; provided that the representations and warranties
contained herein shall be fully effective and enforceable only for a period of eighteen (18) months following the Closing Date,
and shall thereafter be of no further force or effect, provided further, that the representations and warranties in (i)
Section 3.01, Section 3.02, Section 3.24, Section 4.01, Section 4.02, Section 4.05,
Section 5.01, Section 5.02, Section 5.03 and Section 5.05 shall survive indefinitely, (ii) Section 3.19 shall
survive for a period of five (5) years after the Closing, and (iii) Section 3.20 shall survive for the full period of all
applicable statutes of limitations (giving effect to any waiver, mitigation or extension thereof) plus 60 days. All covenants
and agreements of the parties contained herein shall survive the Closing indefinitely or for the period explicitly specified therein.
The representations, warranties, covenants, and agreements contained in this Agreement or in any certificate, schedule, document,
or other writing delivered by or on behalf of any party pursuant hereto shall not be affected by any investigation, verification,
examination or knowledge acquired or capable of being acquired by any other party hereto or by any person acting on behalf of
any such other party.

 

    	 

    	 	 	 

    

 

Section
8.02 Indemnification of the Buyer.

 

(a)
From and after the Closing, Poppe and Camden (“Seller Indemnitors”), jointly and severally, agree to indemnify,
defend and hold harmless the Buyer and the Parent and their respective directors, officers, employees, owners, agents and Affiliates
and their successors and assigns or heirs and personal Representatives, as the case may be (each a “Buyer Indemnified
Party”) from and against, and to promptly pay to or reimburse a Buyer Indemnified Party for any and all Losses sustained
by such Buyer Indemnified Party relating to, caused by or resulting from: (a) any misrepresentation, breach of warranty, or failure
to fulfill or satisfy any covenant or agreement made by the Seller; (b) any Losses relating to the Employment Litigation to the
extent not covered under the Employment Insurance Policies; or (c) any Tax liability of the Companies for periods ending on or
prior to the Closing Date.

 

(b)
Notwithstanding anything contained herein to the contrary, for purposes of the Employment Litigation, the Seller Indemnitors shall
be solely responsible for the direct payment of all Losses relating to the Employment Litigation as they are incurred, to the
extent not covered by the Employment Insurance Policies, including but not limited to attorney’s fees, court costs, settlement
awards and the like. Upon receipt of notice from any party of the requirement to pay for any Losses relating to the Employment
Litigation, the Seller Indemnitors shall remit necessary payment, in cash from the Cash and Securities Account or otherwise in
cash at the Sellers sole discretion.

 

Section
8.03 Indemnification of the Seller. From and after the Closing, the Buyer and Parent, jointly and severally, agree
to indemnify, defend and hold harmless each Person comprising the Seller and the successors and assigns or heirs and personal
Representatives of each, as the case may be (each, a “Seller Indemnified Party”) from and against, and to promptly
pay to or reimburse a Seller Indemnified Party for, any and all Losses sustained by such Seller Indemnified Party relating to,
caused by or resulting from: (a) any misrepresentation, breach of warranty, or failure to fulfill or satisfy any covenant or agreement
made by the Buyer or Parent contained herein, and (b) to the extent not released from any guaranty in respect of the Companies’
obligations under the Leases, any Losses relating to the Leases with respect to the period from and after the Closing Date.

 

Section
8.04 Indemnification Procedure for Third Party Claims Against Indemnified Parties.

 

(a)
Notice. With respect to any matter for which indemnification is claimed pursuant to Section 8.02, the Buyer Indemnified
Party will notify the Seller Indemnitors in writing promptly after becoming aware of such matter. With respect to any matter for
which indemnification is claimed pursuant to Section 8.03, the Seller Indemnified Party will notify the Buyer in writing
promptly after becoming aware of such matter. A failure or delay to promptly notify an indemnifying party of a claim will only
relieve such indemnifying party of its obligations pursuant to this Article VIII to the extent, if at all, that such party
forfeits rights or defenses by reason of such failure or delay.

 

    	 

    	 	 	 

    

 

(b)
Defense of Claim. Promptly after receipt of any notice pursuant to Section 8.4(a) and also with respect to the Employment
Litigation, the indemnifying party shall defend, contest, settle, compromise or otherwise protect the indemnified party against
any such claim for Losses at the indemnifying party’s own cost and expense. Each indemnified party will have the right,
but not the obligation, to participate, at its own expense, in the defense by counsel of its own choosing; provided, however,
that the indemnifying party will be entitled to control the defense, settlement and other actions taken in connection with its
indemnification obligation unless the indemnified party has relieved the indemnifying party in writing from liability with respect
to the particular matter. The indemnified party shall reasonably cooperate with the indemnifying party’s requests, and at
the indemnifying party’s expense (including, but not limited to, indemnifying party’s paying or reimbursing the indemnified
party’s reasonable attorneys’ fees and investigation expenses), concerning the defense of the claim for Losses. The
indemnifying party shall include the indemnified party in any settlement discussions.

 

(c)
Failure to Defend. If the indemnifying party does not timely defend, contest or otherwise protect against a claim for Losses
after receipt of the required notice, the indemnified party will have the right, but not the obligation, to defend, contest or
otherwise protect against same, make any compromise or settlement therefor, and seek indemnification for the entire cost therefor
from the indemnifying party, including, without limitation, reasonable attorneys’ fees, disbursements and all amounts paid
as a result of such suit, action, investigation and Losses.

 

Section
8.05 Certain Limitations and Related Matters. The indemnification provided for in Section 8.02 shall be subject to
the following limitations:

 

(a)
Seller Indemnitors shall not be liable to any Buyer Indemnified Party for indemnification under Section 8.02 until the
aggregate amount of all Losses in respect of indemnification under Section 8.02 exceeds one half of one percent (0.5%)
of the Purchase Price (the “Threshold”), in which event Seller Indemnitors shall each pay or be liable for
all such Losses from the first dollar. The aggregate amount of all Losses for which Seller Indemnitors shall be liable pursuant
to Section 8.02 shall not exceed fifty percent (50%) of the Purchase Price (the “Cap”), provided, however
that the Cap and Threshold shall not apply to (i) any Losses sustained by Buyer or Parent relating to the Employment Litigation
and Seller Indemnitors shall each indemnify Buyer or Parent for any and all Losses relating to the Employment Litigation; and
(ii) any Losses sustained by Buyer or Parent relating to any Tax liabilities of the Companies for periods ending on or prior to
the Closing Date (Section 8.05(a)(i) and (ii) collectively referred to as the “Cap Excluded Items”).

 

    	 

    	 	 	 

    

 

(b)
Payments pursuant to the indemnification provisions of this Agreement shall be limited to the amount of any Losses remaining
after deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received by the indemnified
party or its Affiliates in respect of any such claim. The indemnified party shall use, and shall cause its Affiliates to use,
commercially reasonable efforts to recover under insurance policies or indemnity, contribution or other similar agreements for
any Losses prior to seeking indemnification under this Agreement. None of Buyer, Parent or the Companies shall take any action
to terminate or impair the Employment Insurance Policies. Upon satisfaction in full of Seller Indemnitors’ indemnification
obligations in respect of the Employment Litigation, Seller Indemnitors shall each be entitled to retain 50% of (i) the remaining
proceeds paid or payable under such Employment Insurance Policies, and (ii) any amounts remaining in any fund established to satisfy
claims arising in respect of the Employment Litigation or Losses in respect thereof, and to the extent either of (i) or (ii) is
in the possession or under the control of Buyer, Parent or any Company, such party shall promptly pay over to Seller Indemnitors,
in equal amount, such funds.

 

(c)
Seller Indemnitors may satisfy a portion of an indemnification claim by a Buyer Indemnified Party by transferring Stock Consideration
to such Buyer Indemnified Party, provided, however that Seller Indemnitors may satisfy such claims by transferring Stock Consideration
that is valued at no more than forty one percent (41%) of the dollar amount of any such indemnification claim, with the remaining
portion due to be satisfied in cash. The Stock Consideration so transferred shall be valued for the purpose of satisfying such
indemnification claim at the weighted average price per share of Parent’s common stock during the fifteen (15) days immediately
preceding the day such transfer is made. Notwithstanding anything contained herein to the contrary, Losses relating to the Employment
Litigation shall not be subject to this Section 8.05(c) and Seller Indemnitors shall pay for any Losses relating to the Employment
Litigation pursuant to the terms of Section 8.02(b).

 

(d)
No Losses may be claimed under Section 8.02 or Section 8.03 by Buyer Indemnified Party or Seller Indemnified Party,
respectively, to the extent such Losses are included in the calculation of any adjustment to the Purchase Price pursuant to Section
2.03.

 

Section
8.06 Tax Treatment of Indemnification Payments. Except for the payment for any Losses relating to the Employment Litigation
pursuant to the terms of Section 8.02, all indemnification payments made under this Agreement shall be treated by the parties
as an adjustment to the Purchase Price for Tax purposes, unless otherwise required by Law.

 

Section
8.07 Exclusive Remedies. Except as set forth in Section 6.13, the parties acknowledge and agree that their sole and
exclusive remedy with respect to any and all claims (other than claims arising from intentional fraud or criminal activity on
the part of a party hereto in connection with the transactions contemplated by this Agreement) for any breach of any representation,
warranty, covenant, agreement or obligation set forth herein or otherwise relating to the subject matter of this Agreement, shall
be pursuant to the indemnification provisions set forth in this Agreement. Nothing in this Section 8.07 shall limit any
Person’s right to seek and obtain any equitable relief to which any Person shall be entitled or to seek any remedy on account
of any party’s intentionally fraudulent or criminal misconduct.

 

    	 

    	 	 	 

    

 

Article IX

General Provisions

 

Section
9.01 Amendment and Modification; Waiver of Compliance. Neither the Buyer, on the one hand, nor the Seller, on the other
hand, will be deemed as a consequence of any delay, failure, omission, forbearance or other indulgence of such party: (i) to have
waived, or to be estopped from exercising, any of its rights or remedies under this Agreement; or (ii) to have modified or amended
any of the terms of this Agreement, unless such modification or amendment is set forth in writing and signed by the Buyer, Poppe
and Camden. No single or partial exercise by the Buyer or the Seller of any right or remedy will preclude any other right or remedy,
and a waiver expressly made in writing on one occasion will be effective only in that specific instance and only for the precise
purpose for which given, and will not be construed as a consent to or a waiver of any right or remedy on any future occasion or
a waiver of any right or remedy against any other party.

 

Section
9.02 Validity. If any provision of this Agreement or the application of any such provision to any party hereto or any
circumstances relating hereto shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any
extent, the remainder of this Agreement or the application of such provision to such party or circumstances, other than those
to which it is so determined to be invalid and unenforceable, shall not be affected thereby, and each provision hereof shall be
validated and shall be enforced to the fullest extent permitted by Law.

 

Section
9.03 Parties in Interest. Except as provided in Section 8.03, this Agreement shall not confer upon any Person
not a party hereto any rights or remedies of any nature whatsoever.

 

Section
9.04 Notices. All notices and other communications hereunder shall be in writing and shall be deemed given upon the
earlier to occur of delivery thereof if by hand or upon receipt or on the second business day after deposit if sent by a recognized
overnight delivery service or upon transmission if sent by facsimile (in each case with receipt verified) as follows:

 

	If
                                         to the Buyer or Parent:
	With
                                         a copy to:

	 	 
	Chanticleer
Holdings, Inc.
	Ruskin
Moscou Faltischek, P.C.

	7621
Little Avenue, Suite 414
	1425
RXR Plaza

	Charlotte,
North Carolina 28226
	East
Tower, 15th Floor

	Attn:
Michael D. Pruitt
	Uniondale,
NY 11556

	 	Attn:
Seth I. Rubin, Esq.

 

And
if to any Person comprising Seller, at the address set forth on the signature page to this Agreement of such Seller, with a copy
to Stoel Rives LLP, 900 SW Fifth Ave., Suite 2600, Portland, OR 97204, Attn: Steven Hull, Esq.

 

    	 

    	 	 	 

    

 

Section
9.05 Governing Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the State
of Delaware, without giving effect to any choice or conflict of law provision or rule.

 

Section
9.06 Entire Agreement. This Agreement, including the Disclosure Schedules and Transaction Documents, embody the entire
agreement and understanding of the parties hereto and supersede all prior agreements and understandings between the parties hereto,
whether written or oral, express or implied, with respect to such subject matter herein and therein.

 

Section
9.07 Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned:

 

(i)
by written consent of the Buyer, Poppe and Camden;

 

(ii)
by the Buyer if any of the representations or warranties of the Seller contained herein are not in all material respects true,
accurate and complete, subject to Section 6.15 herein, or if the Seller breaches any covenant or agreement contained herein
in any material respect, and the same is not cured within 10 days after notice thereof;

 

(iii)
by Poppe and Camden if any of the representations or warranties of the Buyer or Parent contained herein are not in all material
respects true, accurate and complete, or if the Buyer or Parent breaches any covenant or agreement contained herein in any material
respect; and the same is not cured within 10 days after notice thereof;

 

(iv)
By Buyer if (A) the Closing has not occurred by September 30, 2015, and (B) such party has performed all of its obligations hereunder
in all material respects and has satisfied all of the conditions to Closing to be satisfied for the other party to proceed; or

 

(v)
By Poppe and Camden if (A) the Closing has not occurred by September 30, 2015, and (B) such parties have performed all of their
obligations hereunder in all material respects and have satisfied all of the conditions to Closing to be satisfied for the other
party to proceed.

 

Section
9.08 Effect of Termination. In the event of the termination of this Agreement in accordance with this Article, this
Agreement shall forthwith become void and there shall be no liability on the part of any party hereto except: (a) as set forth
in this Article IX and Section 6.7 hereof; and (b) that nothing herein shall relieve any party hereto from liability
for any willful breach of any provision hereof.

 

Section
9.09 Assignment. Seller may not assign any of its rights under this Agreement without the prior consent of the Buyer.
Neither Buyer nor Parent may assign any of its rights or obligations under this Agreement without the prior consent of Poppe and
Camden. Notwithstanding the foregoing, this Agreement will apply to, be binding in all respects upon, and inure to the benefit
of and be enforceable by the respective successors and permitted assigns of the parties.

 

    	 

    	 	 	 

    

 

Section
9.10 Waiver of Conflicts; Non-Assertion of Attorney-Client Privilege.

 

(a)
Buyer and Parent acknowledge and agree that, notwithstanding that Stoel Rives LLP will continue to represent the Companies with
respect to the Employment Litigation after the Closing Date, Buyer and Parent, on behalf of themselves and their Affiliates, hereby
consent to, waive, and will not assert any conflict of interest arising out of or relating to the representation after the Closing
Date by Stoel Rives LLP of Poppe and Camden (each, a “Designated Person”) in any matter (including any litigation,
arbitration, mediation or other proceeding) arising out of or in connection with this Agreement and the other agreements and transactions
contemplated hereby (collectively, the “Transaction Representation”). Buyer and Parent acknowledge that they
have consulted with independent counsel concerning the consent provided in this Section.

 

(b)
Buyer and Parent, on behalf of themselves and their Affiliates, agree that, in connection with a dispute between any Designated
Person, on the one hand, and any of Buyer, Parent or the Companies, or any of their respective Affiliates, on the other hand,
they will not assert any attorney-client privilege with respect to any communication between Stoel Rives LLP, on the one hand,
and any Designated Person, on the other hand, occurring during the Transaction Representation, it being the intention of the parties
hereto that all rights to such attorney-client privilege and to control such attorney-client privilege shall be retained by such
Designated Person; provided, that the foregoing agreement of non-assertion shall not extend to any communication not involving
the Transaction Representation, or to communications with any Person other than the Designated Person; provided, further,
that nothing in this Section 9.10(b) shall be construed as a waiver of any attorney-client privilege.

 

Section
9.11 Enforceability. If any provision of this Agreement is found to be unenforceable, the balance of this Agreement
shall be deemed enforceable without the provision in question.

 

Section
9.12 Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an
original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.
In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data
file, such signature shall create a valid and binding obligation of the Party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

Section
9.13 Expenses. Except as otherwise expressly provided in this Agreement, each party will bear its respective expenses
incurred in connection with the preparation, execution, and performance of this Agreement and the transactions contemplated by
this Agreement, including, without limitations, all fees and expenses of agents, Representatives, counsel, and accountants.

 

    	 

    	 	 	 

    

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of the date first above written.

 

	 	BUYER:
	 	 
	 	LBB
    Acquisition, LLC, a North Carolina limited liability company
	 	 
	 	By	/s/
    Michael D. Pruitt
	 	Name:	Michael D. Pruitt
	 	Title:	Chief Executive
    Officer

 

	 	PARENT:
	 	 	 
	 	Chanticleer
    Holdings, Inc., a Delaware corporation
	 	 	 
	 	By	/s/
    Michael D. Pruitt
	 	Name:	Michael D. Pruitt
	 	Title:	Chief Executive
    Officer

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 
	 	By	/s/
    Katherine J. Poppe
	 	Name:	Katherine J. Poppe

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 
	 	By	/s/
    Micah L. Camden
	 	Name:	Micah L. Camden

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 	 
	 	By	/s/
    Michael John Poppe
	 	Name:	Michael John Poppe

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 
	 	By	/s/
    Basil Bullard
	 	Name:	Basil Bullard

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 	 
	 	By	/s/
    Renee Donna Cote
	 	Name:	Renee Donna Cote

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 	 
	 	By	/s/
    Rob John Cote
	 	Name:	Rob John Cote
    

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	SELLER:
	 	 	 
	 	By	/s/ Gary Byron
    Rothenberger
	 	Name:	Gary Byron Rothenberger

 

	 	Address:
	 	 
	 	 
	 	 

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]

 

    	 

    	 	 	 

    

 

	 	COMPANIES:
	 	 
	 	Cuarto
    LLC, an Oregon limited liability company, Quinto LLC, an Oregon limited liability company, Noveno LLC, an Oregon limited liability
    company, Primero LLC, an Oregon limited liability company, Segundo LLC, an Oregon limited liability company, Sexto LLC, an
    Oregon limited liability company, Octavo LLC an Oregon limited liability company, and LBB LLC, an Oregon limited liability
    company

 

	 	By	/s/
    Katherine J. Poppe
	 	Name:	Katherine J. Poppe
	 	Title:	Member
	 	 	 
	 	By	/s/
    Micah L. Camden
	 	Name:	Micah L. Camden
	 	Title:	Member

 

	 	Septimo
    LLC, an Oregon limited liability company 
	 	 	 
	 	By	/s/
    Katherine J. Poppe
	 	Name:	Katherine J. Poppe
	 	Title:	Managing Member

 

[SIGNATURE
PAGE TO MEMBERSHIP INTEREST PURCHASE AGREEMENT]EXHIBIT 10.1

 

PURCHASE AGREEMENT

 

Abeona Therapeutics, Inc.

3333 Lee Parkway, Suite 600

Dallas, TX 75219

Attention: Chief Operating Officer

 

Ladies and Gentlemen:

 

The undersigned (the “Investor”)
hereby confirms and agrees with you as follows:

 

1.          This
Purchase Agreement (the “Agreement”) is made as of July 27, 2015 between Abeona Therapeutics, Inc., a Delaware
corporation (the “Company”), and the Investor.

 

2.          The
Investor agrees to purchase from the Company, and the Company agrees to issue and sell to the Investor the number of shares of
common stock, par value $0.01 per share, (the “Shares”) of the Company set forth opposite the Investor’s
name on Schedule A attached hereto for a purchase price of $5.50 per share, or the aggregate purchase price set forth on Schedule
A, subject to the terms and conditions hereof. The Shares have been registered and are offered for sale under the Securities Act
of 1933, as amended, pursuant to a registration statement on SEC Form S-3, Registration No. 333-205128, and the prospectus dated
June 19, 2015, which forms part of such registration statement.

 

3.          The
completion of the purchase and sale of the Shares (the “Closing”) shall occur on July 30, 2015 or at such other
time as the Company and the Investor mutually agree. At the Closing, the Investor shall deliver, or cause to be delivered, to the
Company by wire transfer funds in the full amount of the purchase price for the Shares being purchased. Upon receipt by the Company
of the full amount of the purchase price for such Shares, the Company shall deliver to the Investor, using customary book-entry
procedures, the number of Shares set forth for the Investor on Schedule A. The delivery of any and all Shares to the Investor shall
be conditioned upon receipt by the Company of funds in the full amount of the purchase price for the Shares being purchased by
the Investor as set forth on Schedule A.

 

4.          This
Agreement shall be independent of any other agreement between the Company and any other purchaser of shares of common stock of
the Company, and the obligations of each party hereunder shall not be conditioned upon the completion of the sale of shares by
the Company to any other purchaser.

 

5.          This
Agreement shall terminate as of July 31, 2015 in the event that the Company has not received payment from the Investor of the full
amount of the purchase price for the Shares being purchased; provided, that the termination of this Agreement shall not
relieve the Investor from any liability arising out of its failure to perform its obligations hereunder.

 

6.          This
Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without giving effect
to the principles of conflicts of law. This Agreement may be executed in two or more counterparts, each of which shall constitute
an original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or
more counterparts have been signed by each party hereto and delivered to the other party.

 

    	 

    	 

    

  

Please confirm that the
foregoing correctly sets forth the agreement between us by signing in the space provided below for that purpose.

 

Name of Investor: ______________________________

 

By: _________________________________________

 

Print Name: ___________________________________

 

Title: ________________________________________

 

Address:

 

_____________________________________________

 

_____________________________________________

 

_____________________________________________

 

Tax ID No.: ___________________________________

 

Contact Name: _________________________________

 

Telephone: ____________________________________

 

Name in which book-entry should be made (if

 

different):

 

_____________________________________________

 

DWAC Instructions:

 

_____________________________________________

 

DTC Participant Code: __________________________

 

AGREED AND ACCEPTED:

 

ABEONA THERAPEUTICS, Inc.

 

By: _________________________________

Name: Jeffrey B. Davis

Title: Chief Operating Officer

 

    	 

    	 

    

 

SCHEDULE A

  

	Name of Investor	 	Number of Shares	 	Aggregate Purchase

Price

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