Document:

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     Exhibit 10.1

AMENDED AND RESTATED PURCHASE AGREEMENT

     THIS PURCHASE AGREEMENT (this “Purchase Agreement”) is made and entered into this 24th day of
January, 2008 (the “Effective Date”) by and among Hudson Logistics, Inc., a Delaware corporation
(“HLI”), and Hudson Logistics Loading, Inc., a Delaware corporation (“HLL”) (“HLI” and “HLL,” each
a “Seller” and collectively referred to as “Sellers” or “Seller” as contract may require), solely
for the purposes of Sections 4 and 9, Chartwell International, Inc., a Nevada corporation
(“Chartwell”), and Perry New Jersey I, LLC (“Purchaser” and together with Sellers and Chartwell,
the “Parties” and each a “Party”, as the case may be).

RECITALS

     WHEREAS, the Parties entered into that certain Purchase Agreement, dated December 20, 2007, as
amended by that certain Amendment No. 1, dated December 28, 2007, and that certain Amendment No. 2,
dated January 10, 2008 (the “Original Agreement”);

     WHEREAS, each of the Sellers hold certain Assets and Assigned Contracts, each as defined in
Section 11;

     WHEREAS, each of the Sellers desires to sell, assign and transfer to Purchaser, and Purchaser
desires to acquire, buy and assume from each of the Sellers certain Assets and the Assigned
Contracts pursuant to the terms and conditions set forth herein; and

     WHEREAS, the Parties desire to amend and restate the Original Agreement to replace their
rights and obligations in their entirety under the Original Agreement with the rights and
obligations set forth in this Purchase Agreement.

     NOW, THEREFORE, for and in consideration of the mutual covenants contained herein, the Parties
hereby agree as follows:

AGREEMENT

1. Closing.

     1.1 On the Closing Date (as defined below), each of the Sellers hereby agrees to assign,
transfer and convey to Purchaser all of such Seller’s rights, title, and interest in, to and under
the Assets and the Assigned Contracts. The “Closing Date” shall be the date on which all
conditions and obligations of the Parties pursuant to this Purchase Agreement have been met but no
later than January 31, 2008, such date and time being of the essence.

     1.2 Pursuant to the terms of this Purchase Agreement, (i) Purchaser becomes entitled to all
right, title and interest of each Seller in and to each of the Assigned Contracts as if Purchaser
was an original party to such Assigned Contracts; (ii) Purchaser unconditionally assumes and shall
thereafter promptly, fully, completely and faithfully keep, fulfill, observe, perform and discharge
each and every covenant and obligation that may become performable under each of Assigned
Contracts; (iii)

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Purchaser shall be bound by all of the terms and conditions of the Assigned Contracts; and
(iv) Purchaser by this Purchase Agreement and the Bill of Sale (defined herein) becomes entitled to
all right, title and interest of each Seller in and to each of the Assets.

     1.3 On the Closing Date, Purchaser by this Purchase Agreement assumes and becomes responsible
solely for all liabilities listed on Schedule 1.3 hereto (the “Assumed Liabilities”).
Purchaser will not assume or have any responsibility, however, with respect to any other obligation
or liability of Seller not included within the definition of Assumed Liabilities.

2. Payments.

     2.1 In accordance with the terms and conditions of the Escrow Agreement attached hereto as
EXHIBIT A, no later than December 21, 2007, Purchaser shall deposit with Hartman, Simons,
Spielman & Wood, LLP (“Escrow Agent”) the aggregate sum of $100,000.00 (the “Deposit”). On or
before 12:00 pm Eastern time on the Escrow Increase Date, Purchaser shall notify Seller of (i) the
amended Schedule 3.1, listing all Holdback Transactions, as provided for in Section 3.1,
and (ii) the Diligence Closing Conditions, as provided for in Section 6.7. After receipt of such
terms, Seller shall have until 2:00 pm Eastern time on the Escrow Increase Date (the “Acceptance
Time”) to notify Purchaser of acceptance or rejection of all such Holdback Transactions and all
Diligence Closing Conditions. If Seller notifies Purchaser on or before the Acceptance Time that
it rejects any of the Holdback Transactions or Diligence Closing Conditions, Purchaser may elect to
terminate this Purchase Agreement and have the Deposit released to Seller immediately. If the
Seller agrees to all such Holdback Transactions and Diligence Closing Conditions, either by express
written acceptance on or before the Acceptance Time, or by Seller’s silence as of the Acceptance
Time, then Purchaser shall initiate payment to the Escrow Agent of an additional $1,600,000.00 by
5:00 pm Eastern time on the Escrow Increase Date, such that the aggregate amount of the Deposit
shall equal $1,700,000.00.

     2.2 On or before the Closing Date and following written instructions from each of the Parties
in a form reasonably acceptable to the Escrow Agent, the Escrow Agent may release certain payments
in satisfaction of the closing conditions set forth in Section 8 (the “Escrow Closing Payments”).

     2.3 On the Closing Date and following written instructions from each of the Parties in a form
reasonably acceptable to the Escrow Agent, in consideration for the assignments, sales and
transfers contemplated under this Purchase Agreement and provided all of the conditions set forth
in this Purchase Agreement have been met on or before the Closing Date, the Escrow Agent shall
release to the Sellers by wire transfer or cashier’s check the aggregate sum of $1,700,000.00
less (i) the aggregate of any Escrow Closing Payments, (ii) the Holdback Amount, (iii) the
Settlement Holdback, and (iv) the NYGLR Amount. If (i) this Purchase Agreement is mutually
terminated by all Parties hereto; (ii) this Purchase Agreement is terminated by Purchaser pursuant
to either Section 14.1 or 14.2, or (iii) Section 8 is not satisfied as of the Closing Date, the Net
Deposit shall be promptly returned to the Purchaser.

3. Holdback.

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     3.1 During the Holdback Period, Purchaser shall cause the events or transactions set forth on
Schedule 3.1 to occur (the “Holdback Transactions”).

     3.2 At the end of the Holdback Period, Purchaser shall provide the Escrow Agent with a written
statement of the total amount of costs accrued by the Purchaser during the Holdback Period for
completion of the Holdback Transactions (the “Holdback Costs”), along with evidence of such
Holdback Costs. The Escrow Agent shall then release (i) to Purchaser, an amount equal to the
Holdback Costs, and (ii) to Seller, an amount that is equal to the Holdback Amount minus the
Holdback Costs.

4. Representations and Warranties of Sellers and Chartwell.

Each Seller and Chartwell jointly and severally represent and warrant to Purchaser that the
statements contained in this Section 4 are true, correct and complete as of the date of this
Purchase Agreement and will be true, correct and complete as of the Closing Date (as though made
then and as though the Closing Date were substituted for the date of this Purchase Agreement
throughout this Section 4).

     4.1 Organization. Sellers and Chartwell each are duly organized, validly existing and
in good standing under the laws of its respective jurisdiction of incorporation.

     4.2 Authorization. Sellers and Chartwell have all necessary power and authority to
execute and deliver this Purchase Agreement and the exhibits attached hereto, and to perform each
of their obligations hereunder and thereunder, and no other action on the part of Sellers is
required in connection therewith. This Purchase Agreement has been duly executed and delivered by
the Sellers and Chartwell and constitutes the legal, valid, and binding obligation of the Sellers
and Chartwell, enforceable against each of them in accordance with its terms, and has been approved
by the respective Boards of Directors of the Sellers and Chartwell, which are the only approvals
required for the consummation of the assignment by the Sellers. Upon the execution and delivery by
the Sellers and Chartwell of the Purchase Agreement and exhibits attached hereto, the Purchase
Agreement will constitute the legal, valid, and binding obligations of the Sellers and Chartwell,
enforceable against each of them in accordance with their respective terms.

     4.3 Non-Contravention. Except as set forth in Schedule 4.3, neither the
execution and delivery of this Purchase Agreement, nor the consummation of the transactions
contemplated hereby (including the Assignment and Assumption Agreements referred to in Section 8),
will (i) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree,
ruling, charge, or other restriction of any government, governmental agency, or court to which
Seller or Chartwell is subject or any provision of the charter or bylaws of Seller or Chartwell or
(ii) conflict with, result in a breach of, constitute a default under, result in the acceleration
of, create in any party the right to accelerate, terminate, modify, or cancel, or require any
notice under any agreement, contract, lease, license, instrument, or other arrangement to which
Seller or Chartwell is a party or by which it is bound or to which any of its assets is subject (or
result in the imposition of any Lien upon any of its assets), except where the violation, conflict,
breach, default, acceleration, termination, modification, cancellation, failure to give notice, or
Lien would not have a Material Adverse Effect. Neither Seller nor Chartwell needs to give any
notice to, make any filing with, or obtain any authorization,

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consent, or approval of any government or governmental agency in order for the Parties to
consummate the transactions contemplated by this Purchase Agreement (including the Assignment and
Assumption Agreements referred to in Section 8), except where the failure to give notice, to file,
or to obtain any authorization, consent, or approval would not have a Material Adverse Effect.

     4.4 Title to Assets. Seller has good and marketable title to, or a valid leasehold
interest in, the properties and assets used by it, located on its premises, or shown on the Most
Recent Balance Sheet or acquired after the date thereof, free and clear of all Liens, except for
properties and assets disposed of in the Ordinary Course of Business since the date of the Most
Recent Balance Sheet. Without limiting the generality of the foregoing except as set forth on
Schedule 4.4, Seller has good and marketable title to all of the Assets, free and clear of
any Liens or restriction on transfer. Schedule 4.4 lists the Assets and Excluded Assets
used by Seller in its conduct of Business.

     4.5 Subsidiaries. Neither Seller has any Subsidiary.

     4.6 Financial Statements. Attached hereto as Schedule 4.6 are the following
financial statements (collectively the “Financial Statements”): (i) unaudited consolidated balance
sheets and statements of income, changes in stockholders’ equity, and cash flow as of and for the
fiscal year ended June 30, 2007 (the “Most Recent Fiscal Year End”) for each Seller; and (ii)
unaudited consolidated balance sheets and statements of income (the “Most Recent Financial
Statements”) as of and for the four (4) months ended October 31, 2007 (the “Most Recent Fiscal
Month End”) for each Seller. The Financial Statements (including the notes thereto) have been
prepared in accordance with GAAP throughout the periods covered thereby and present fairly the
financial condition of each Seller as of such dates and the results of operations of such Seller
for such periods; provided, however, that the Most Recent Financial Statements are subject to
normal year-end adjustments (which will not be material, individually or in the aggregate) and lack
footnotes and other presentation items. Each Seller maintains a separate Cash account for such
Seller (into which such Seller deposits all of the receipts of such Seller and out of which such
Seller makes all of the disbursements of such Seller).

     4.7 Events Subsequent to Most Recent Fiscal Month End. Since the Most Recent Fiscal
Month End, there has not been any Material Adverse Change. Without limiting the generality of the
foregoing, since that date:

     4.7.1 Seller has not sold, leased, transferred, or assigned any material assets,
tangible or intangible, outside the Ordinary Course of Business;

     4.7.2 Seller has not entered into any material agreement, contract, lease, or license
outside the Ordinary Course of Business;

     4.7.3 Neither of the Sellers nor any other party has accelerated, terminated, made
material modifications to, or cancelled any material agreement, contract, lease, or license
to which Seller is a party or by which it is bound;

     4.7.4 Seller has not imposed any Lien upon any of its assets, tangible or intangible;

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     4.7.5 Seller has not made any material capital expenditure outside the Ordinary Course
of Business;

     4.7.6 Seller has not made any material capital investment in, or any material loan to,
any other Person outside the Ordinary Course of Business;

     4.7.7 Seller has not created, incurred, assumed, or guaranteed more than $20,000 in
aggregate indebtedness for borrowed money and capitalized lease obligations;

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

     4.7.9 Seller has not made any loan to, or entered into any other transaction with, any
of the directors or officers of Seller outside the Ordinary Course of Business;

     4.7.10 Seller has not changed its normal business practices or taken any other action
outside the Ordinary Course of Business in order to generate Cash;

     4.7.11 Seller has not made any loans or advances of money; and

     4.7.12 Seller has not committed to any of the foregoing.

     4.8 Undisclosed Liabilities. Seller does not have any individual or cumulative
material liability (whether known or unknown, whether asserted or unasserted, whether absolute or
contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to
become due, including any liability for taxes), except for (i) liabilities set forth on the face of
the Most Recent Balance Sheet (rather than in any notes thereto) and (ii) liabilities that would
not have a Material Adverse Effect on the Business and that have arisen after the Most Recent
Fiscal Month End in the Ordinary Course of Business.

     4.9 Legal Compliance; Permits. Seller has complied in all material respects with all
applicable laws (including rules, regulations, codes, plans, injunctions, judgments, orders,
decrees, rulings, and charges thereunder and including the Foreign Corrupt Practices Act, 15 U.S.C.
78(dd)-1, et seq.) of federal, state, local, and foreign governments (and all agencies thereof),
and no action, suit, proceeding, hearing, investigation, charge, complaint, claim, demand, or
notice has been filed or commenced against any of them alleging any failure so to comply, except
where the failure to comply would not have a Material Adverse Effect. Except as set forth on
Schedule 4.9, neither the Business, the Assets nor any of the Assigned Contracts are
subject to any order issued by any court or any Regulatory Authority which has had or may result in
a Material Adverse Effect on either of them. Except as set forth on Schedule 4.9, no
Permits are necessary for the lawful operation of the Business, the Assets or the Assigned
Contracts as presently conducted, and Seller is in compliance with all such Permits and all
applicable laws and orders issued by any court or Regulatory Authority where a failure to have such
Permits or so to comply would have a Material Adverse Effect on either the Business, the Assets or
the Assigned Contracts.

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     4.10 Tax Matters.

     4.10.1 Seller has timely filed all material Tax Returns that it was required to file.
All such Tax Returns as so filed disclose all Taxes required to be paid for the periods
covered thereby. All material Taxes due and owing by Seller (whether or not shown on any
Tax Return) have been timely paid in full. Except as set forth on Schedule 4.10,
Seller currently is not the beneficiary of any extension of time within which to file any
Tax Return. There are no Liens for Taxes (other than Taxes not yet due and payable) upon
any of the assets of Seller. Seller has withheld and paid all Taxes required to have been
withheld and paid in connection with amounts paid or owing to any employee, independent
contractor, creditor, stockholder, or other third party, and all Forms W-2 and 1099
required with respect thereto have been properly completed and timely filed. Seller has no
liability for the Taxes of any other Person whether by contract, under successor liability,
under Section 1502-6 of the Treasury Regulations, or otherwise.

     4.10.2 There is no material dispute or claim concerning any Tax liability of Seller
either (A) claimed or raised by any authority in writing or (B) as to which any responsible
person has knowledge.

     4.11 Real Property. Seller does not own or lease any Real Property.

     4.12 Intellectual Property.

     4.12.1 To Seller’s knowledge, Seller has not interfered with, infringed upon,
misappropriated, or violated any material Intellectual Property rights of third parties in
any material respect, and neither Chartwell nor the directors and officers of Seller has
ever received any charge, complaint, claim, demand, or notice alleging any such
interference, infringement, misappropriation, or violation (including any claim that Seller
must license or refrain from using any Intellectual Property rights of any third party).

     4.12.2 Schedule 4.12 identifies each material trade name or unregistered
trademark, service mark, corporate name, Internet domain name, copyright and material
computer software item used by Seller in connection with the Business. With respect to each
item of Intellectual Property required to be identified Schedule 4.12:

     4.12.2.1 Seller possess all right, title, and interest in and to the item,
free and clear of any Lien, license, or other restriction;

     4.12.2.2 the item is not subject to any outstanding injunction, judgment,
order, decree, ruling, or charge;

     4.12.2.3 no action, suit, proceeding, hearing, investigation, charge,
complaint, claim, or demand is pending or, to the knowledge of any of the directors
and officers of Seller, is threatened that challenges the legality, validity,
enforceability, use, or ownership of the item;

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     4.12.2.4 Seller has never agreed to indemnify any Person for or against any
interference, infringement, misappropriation, or other conflict with respect to the
item; and

     4.12.3 Schedule 4.12.3 identifies each material item of Intellectual Property
that any third party owns and that Seller uses pursuant to license, sublicense, agreement,
or permission. Seller has delivered to Purchaser correct and complete copies of all such
licenses, sublicenses, agreements, and permissions (as amended to date). With respect to
each item of Intellectual Property required to be identified in Schedule 4.12.3:

     4.12.3.1 the license, sublicense, agreement, or permission covering the item
is legal, valid, binding, enforceable, and in full force and effect in all material
respects;

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

     4.12.3.3 no party to the license, sublicense, agreement, or permission has
repudiated any material provision thereof; and

     4.12.3.4 Seller has not granted any sublicense or similar right with respect
to the license, sublicense, agreement, or permission.

     4.13 Tangible Assets. The buildings, machinery, equipment, and other tangible assets
that Seller owns or leases, including the Assets, are free from material defects (patent and
latent), have been maintained in accordance with normal industry practice, and are in reasonable
operating condition and repair (subject to obsolescence, normal wear and tear) for the conduct of
the Business as currently conducted.

     4.14 Contracts. Except for Assigned Contracts, Schedule 4.14 lists the
following contracts and other agreements to which Seller is a party:

     4.14.1 any agreement (or group of related agreements) for the lease of personal
property to or from any Person providing for lease payments in excess of $20,000 per annum;

     4.14.2 any agreement (or group of related agreements) for the purchase or sale of raw
materials, commodities, supplies, products, or other personal property, or for the
furnishing or receipt of services, the performance of which will extend over a period of
more than one year, or involve consideration in excess of $20,000;

     4.14.3 any agreement concerning a partnership or joint venture;

     4.14.4 any agreement (or group of related agreements) under which it has created,
incurred, assumed, or guaranteed any indebtedness for borrowed money, or any capitalized
lease obligation, in excess of $20,000 or under which it has imposed a Lien on any of its
assets, tangible or intangible;

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     4.14.5 any material agreement concerning confidentiality or non-competition;

     4.14.6 any material agreement involving Seller;

     4.14.7 any profit sharing, stock option, stock purchase, stock appreciation, deferred
compensation, severance, or other material plan or arrangement for the benefit of the
current or former directors, officers, and employees of Seller;

     4.14.8 any agreement for the employment of any individual on a full-time, part-time,
consulting, or other basis providing annual compensation in excess of $20,000 or providing
material severance benefits;

     4.14.9 any agreement under which it has advanced or loaned any amount to any of the
directors, officers, and employees of Seller outside the Ordinary Course of Business;

     4.14.10 any agreement under which the consequences of a default or termination could
have a Material Adverse Effect;

     4.14.11 any settlement, conciliation, or similar agreement, the performance of which
will involve payment after the Most Recent Fiscal Month End of consideration in excess of
$20,000, or imposition of monitoring or reporting obligations to any governmental entity
outside the Ordinary Course of Business;

     4.14.12 any agreement under which Seller has advanced or loaned any other Person
amounts in the aggregate exceeding $20,000; or

     4.14.13 any other agreement (or group of related agreements) the performance of which
involves consideration in excess of $20,000.

     Seller has delivered to Purchaser a correct and complete copy of each written agreement listed
in Schedule 4.14 (as amended to date) and a written summary setting forth the material
terms and conditions of each oral agreement referred to in Schedule 4.14. Seller has
delivered to Purchaser a correct and complete copy of each Assigned Contract. Except as set forth
on Schedule 4.14, with respect to each such Assigned Contract: (A) the agreement is legal,
valid, binding, enforceable, and in full force and effect in all material respects; (B) no party is
in material breach or default, and no event has occurred that with notice or lapse of time would
constitute a material breach or default, or permit termination, modification, or acceleration,
under the agreement; (C) no claim for breach of such Assigned Contract has been made or threatened
by any Party to such Assigned Contract or by any Person and (D) no party has repudiated any
material provision of the agreement.

     4.15 Litigation. Schedule 4.15 sets forth each instance in which Seller (i)
is subject to any outstanding injunction, judgment, order, decree, ruling, or charge or (ii) is a
party or, to the knowledge of any of the directors, officers, employees or agents of Seller or
Chartwell, is threatened, either verbally or in writing, to be made a party to any

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action, suit, proceeding, hearing, or investigation of, in, or before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign jurisdiction or
before any arbitrator. Except as set forth on Schedule 4.15, there is no action, suit or
proceeding pending or, to the knowledge of Seller or Chartwell, threatened, which (i) questions the
legality or propriety of transactions contemplated by this Purchase Agreement or (ii) which might
have consequences that would prohibit either of the Sellers or Chartwell from entering into this
Purchase Agreement or any other agreements to which it is a party or might have consequences that
would materially and adversely affect its performance hereunder and under the other documents to
which it is a party and to convey in good faith the Assigned Contracts.

     4.16 Employees. Seller does not have any employees.

     4.17 Guaranties. Seller is not a guarantor or otherwise is responsible for any
liability or obligation (including indebtedness) of any other Person.

     4.18 Environmental, Health, and Safety Matters.

     4.18.1 Seller has for the past five (5) years complied and is in compliance, in each
case in all material respects, with all Environmental, Health, and Safety Requirements the
failure of which will not have a Material Adverse Effect.

     4.18.2 Without limiting the generality of the foregoing, Seller has obtained, has for
the past five years complied, and is in compliance with, in each case in all material
respects, all material permits, licenses and other authorizations that are required
pursuant to Environmental, Health, and Safety Requirements for the occupation of its
facilities and the operation of the Business the failure of which will not have a Material
Adverse Effect.

     4.18.3 Except as set forth on Schedule 4.18, Seller has not received any
written notice, regarding any actual or alleged material violation of Environmental,
Health, and Safety Requirements, or any material liabilities or potential material
liabilities, including any material investigatory, remedial, or corrective obligations,
relating to it or its facilities arising under Environmental, Health, and Safety
Requirements.

     4.18.4 Seller, nor to the best of Seller’s knowledge, any of its respective
predecessors or Affiliates has treated, stored, disposed of, arranged for or permitted the
disposal of, transported, handled, manufactured, distributed, exposed any person to, or
released any substance, including without limitation any hazardous substance, or owned or
operated any property or facility (and no such property or facility is contaminated by any
such substance) so as to give rise to any current or future material liabilities, including
any material liability for response costs, corrective action costs, personal injury,
property damage, natural resources damages or attorney fees, pursuant to the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended (“CERCLA”) or
the Solid Waste Disposal Act, as amended or any other Environmental, Health, and Safety
Requirements.

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     4.18.5 Seller, nor to the best of Seller’s knowledge, any of its respective
predecessors or Affiliates has designed, manufactured, sold, marketed, installed, or
distributed products or other items containing asbestos, and with respect to such entities,
to the best of Seller’s knowledge, none of such entities is or will become subject to any
liabilities with respect to the presence of asbestos in any product or item or in or upon
any property, premises, or facility.

     4.18.6 Seller has furnished to Purchaser all material environmental audits, reports,
and other material environmental documents relating to its or its respective predecessors’
or Affiliates’ past or current properties, facilities, or operations that are in their
possession, custody, or under their reasonable control.

     4.18.7 Neither the Facility, as such term is defined in the Assigned Contracts, nor
the assignments and conveyances contemplated by this Purchase Agreement, are regulated by
the Industrial Site Recovery Act, N.J.S.A. 13:1k et seq. and related administrative code
(“ISRA”), and in the alternative, if regulated, is exempt from reporting or compliance
requirements or any other requirements by way of description, but not limitation, such as
those as contemplated by N.J.S.A. 13:1k9 and related administrative code. This
representation shall survive the Closing and shall remain in effect in perpetuity or until
such time as the New Jersey Department of Environmental Protection (“NJDEP”) issues a “No
Further Action” letter concerning the Facility. If at any time, subsequent to the Closing,
the NJDEP determines that the Facility is regulated by ISRA and that the Facility is not in
compliance with ISRA, Purchaser shall be entitled to indemnification by the Sellers and
Chartwell for the costs associated with coming into compliance with ISRA.

     4.19 Business Continuity. None of the computer software, computer hardware (whether
general or special purpose), telecommunications capabilities (including all voice, data and video
networks) and other similar or related items of automated, computerized, and/or software systems
and any other networks or systems and related services that are used by or relied on by Seller in
the conduct of the Business (collectively, the “Systems”) have experienced bugs, failures,
breakdowns, or continued substandard performance in the past twelve (12) months that has caused any
substantial disruption or interruption in or to the use of any such Systems by Seller. Seller is
covered by business interruption insurance in scope and amount customary and reasonable to ensure
the ongoing business operations of the Business.

     4.20 Certain Business Relationships with Seller. Except as set forth on Schedule
4.20, neither Chartwell nor any of its Affiliates, directors, officers, employees, and
shareholders, nor Seller’s directors, officers, employees, and shareholders has been involved in
any material business arrangement or relationship with Seller within the past twelve (12) months,
and neither Chartwell nor any of its Affiliates, directors, officers, employees, and shareholders,
nor Seller’s directors, officers, employees, and shareholders own any material asset, tangible or
intangible, that is used in the Business.

     4.21 Disclosure. The representations and warranties contained in this Section 4 do
not contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements and all information contained in this Section 4 not misleading.

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     4.22 Insolvency. Neither Seller nor Chartwell is now insolvent, as measured on a
consolidated basis, and neither Seller nor Chartwell will be rendered insolvent by any of the
transactions contemplated by this Purchase Agreement (including the transactions contemplated by
Section 8 of this Purchase Agreement). As used in this section, “insolvent” means that the sum of
the liabilities and other known potential liabilities of such Seller or Chartwell, as accounted for
in the Financial Statements and corresponding notes, exceed the value of such Seller’s or
Chartwell’s assets as set forth in the Financial Statements, as the case may be. Immediately after
giving effect to the consummation of the transactions contemplated by the Purchase Agreement: (i)
each of Seller and Chartwell will be able to pay its liabilities as they become due in the Ordinary
Course of Business; (ii) neither Seller nor Chartwell will have negative working capital; (iii)
each Seller and Chartwell will each have assets that exceed its liabilities each as calculated in
accordance with GAAP; and (iv) taking into account all pending, and to the knowledge of each of
Seller and Chartwell, respectively, threatened claims and litigation, final judgments against each
Seller and Chartwell in actions for money damages are not reasonably anticipated to be rendered at
a time when, or in amounts such that, such Seller and Chartwell will be unable to satisfy any such
judgments promptly in accordance with their terms (taking into account the reasonable estimate of
such judgments in any such actions and the earliest reasonable time at which such judgments might
be rendered) as well as all other financial obligations of such Seller and Chartwell.

     4.23 Fraudulent Transfer. Neither Seller nor Chartwell is effecting a fraudulent
transfer by entering into this Purchase Agreement and the exhibits attached hereto, effecting the
transactions contemplated hereby and thereby, or performing its obligations hereunder and
thereunder. To the knowledge of each of the Sellers and Chartwell after reasonable investigation
and receipt of prior offers, the purchase price being paid to and received by Sellers under this
Purchase Agreement is a fair market value for the property and rights being conveyed to Purchaser

5. Representations and Warranties of Purchaser

     5.1 Authority of Purchaser. Purchaser is a limited liability company organized,
validly existing and in good standing under the laws of the State of Delaware. Purchaser has all
necessary limited liability company power and authority to enter into this Purchase Agreement and
each other agreement or instrument of Purchaser expressly required by this Purchase Agreement to be
executed by it (collectively, the “Purchaser’s Agreements”), to consummate the transactions
contemplated hereby without the consent of or notice to any third party, other than consents and
notices obtained or given, and to comply with the terms, conditions and provisions hereof and
thereof. All requisite limited liability company action has been taken to authorize the execution,
delivery and performance by the Purchaser of this Purchase Agreement and the transactions
contemplated herein and no other limited liability company proceedings on the part of the Purchaser
are necessary to authorize the execution and delivery of this Purchase Agreement and the
consummation of the transactions contemplated herein. This Purchase Agreement has been duly
authorized, executed and delivered by Purchaser and is, and each of the Purchaser’s Agreements,
when executed and delivered by Purchaser, will be, the legal, valid and binding agreement of
Purchaser, enforceable against Purchaser in accordance with its respective terms. Neither the
execution and delivery of this Purchase Agreement and the Purchaser’s Agreements nor the
consummation of the transactions contemplated by it will (i) conflict with or result in

11

 

any violation of or constitute a default under any term of the charter or operating agreement
of Purchaser, (ii) violate any agreement, mortgage, debt instrument, indenture or other instrument,
judgment, decree, order, award, law or regulation applicable to Purchaser or any of its respective
assets or properties, or (iii) require the consent, approval, permission or other authorization of
or by or filing or qualification with any court, arbitrator or governmental, administrative or
self-regulatory authority which has not been obtained which would adversely effect its ability to
perform its agreements hereunder or (iv) result in the cancellation, modification, revocation or
suspension of any material license, certificate or permit or authorization held by the Purchaser.

     5.2 Litigation. Purchaser (i) is not subject to any outstanding injunction, judgment,
order, decree, ruling, or charge or (ii) is not a party or, to the knowledge of any of the
directors, officers, employees or agents of Purchaser, is not threatened, either verbally or in
writing, to be made a party to any action, suit, proceeding, hearing, or investigation of, in, or
before any court or quasi-judicial or administrative agency of any federal, state, local, or
foreign jurisdiction or before any arbitrator. There is no action, suit or proceeding pending or,
to the knowledge of Purchaser, threatened, which (i) questions the legality or propriety of
transactions contemplated by this Purchase Agreement or (ii) which might have consequences that
would prohibit Purchaser from entering into this Purchase Agreement or any other agreements to
which it is a party or might have consequences that would materially and adversely affect its
performance hereunder and under the other documents to which it is a party.

     5.3 Financing. Buyer has access to sufficient funds to consummate the transactions
contemplated under this Agreement.

     5.4 Disclosure. The representations and warranties contained in this Section 5 do not
contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements and all information contained in this Section 5 not misleading.

6. Pre-Closing Covenants.

The Parties agree as follows with respect to the period between the execution of this Purchase
Agreement and the Closing:

     6.1 Operation of Business. Seller will not cause or permit Seller to engage in any
practice, take any action, or enter into any transaction outside the Ordinary Course of Business.
Without limiting the generality of the foregoing, Seller will not cause or permit Seller to
otherwise engage in any practice, take any action, or enter into any transaction of the sort
described in Section 4.7 above.

     6.2 Preservation of Business. Seller will keep the Business and its properties
substantially intact, including its present operations, physical facilities, working conditions,
insurance policies and relationships with lessors, licensors, suppliers, customers, and employees.

     6.3 Full Access. Seller will permit representatives of Purchaser (including legal
counsel and accountants) to have full access at all reasonable times, and in a manner so as not to
interfere with the normal business operations of Seller, to all premises, properties, personnel,
books, records (including Tax records), contracts, and

12

 

documents of or pertaining to Seller except information protected by attorney client
privilege, attorney work product privilege and confidential information of third parties. Purchaser
will treat and hold as such any Confidential Information it receives from Seller in the course of
the reviews contemplated by this Section 6.3, will not use any of the Confidential Information
except in connection with this Purchase Agreement, and, if this Purchase Agreement is terminated
for any reason whatsoever, will return to Seller all tangible embodiments (and all copies) of the
Confidential Information that are in its possession.

     6.4 Notice of Developments. Seller will give prompt written notice to Purchaser of
any material adverse development causing a breach of its representations and warranties in Section
4 above. No disclosure by any Party pursuant to this Section 6.4 shall be deemed to amend any
schedule or exhibit or to prevent or cure any misrepresentation, breach of warranty, or breach of
covenant.

     6.5 Exclusivity. Seller will not (i) solicit, initiate, or encourage the submission
of any proposal or offer from any Person relating to the acquisition of any capital stock or other
voting securities, or any substantial portion of the assets, of Seller (including any acquisition
structured as a merger, consolidation, or share exchange) or (ii) participate in any discussions or
negotiations regarding, furnish any information with respect to, assist or participate in, or
facilitate in any other manner any effort or attempt by any Person to do or seek any of the
foregoing.

     6.6 Maintenance of Assets and Assigned Contracts. Seller will maintain the Assets
and any and all property, rights and relationships underlying Assigned Contracts in substantially
the same condition as existed on the date of this Purchase Agreement, ordinary wear and tear
excepted, and shall not demolish or remove any of the existing improvements, or erect new
improvements on the site or any portion thereof, without the prior written consent of Purchaser.

     6.7 Diligence Closing Conditions. On or before the Escrow Increase Date, Purchaser
shall deliver to Seller a list of closing conditions that must be satisfied prior to the Closing
(the “Diligence Closing Conditions”), and such list shall be appended to this Purchase Agreement
and become a part hereof as EXHIBIT B.

7. Post-Closing Covenants.

     The Parties agree as follows with respect to the period following the Closing:

     7.1 General. In case at any time after the Closing any further actions are necessary
to carry out the purposes of this Purchase Agreement, each of the Parties will take such further
actions (including the execution and delivery of such further instruments and documents) as the
other Party may reasonably request, all at the sole cost and expense of the requesting Party
(unless the requesting Party is entitled to indemnification therefor under Section 9 below). Seller
acknowledges and agrees that from and after the Closing, Purchaser will be entitled to possession
of all documents, books, records (including tax records), agreements, and financial data of any
sort relating to the Business.

     7.2 Litigation Support. In the event and for so long as any Party actively is
contesting, prosecuting or defending against any action, suit, proceeding, hearing, investigation,
charge, complaint, claim, or demand in connection with (i) any transaction

13

 

contemplated under this Purchase Agreement, or (ii) any fact, situation, circumstance, status,
condition, activity, practice, plan, occurrence, event, incident, action, failure to act, or
transaction on or prior to the Closing Date involving Seller, the other Party will cooperate with
the prosecuting, contesting or defending Party and its counsel in the contest or defense, make
available its personnel, and provide such testimony and access to its books and records as shall be
necessary in connection with the contest or defense, all at the sole cost and expense of the
prosecuting, contesting or defending Party (unless the prosecuting, contesting or defending Party
is entitled to indemnification therefor under Section 9 below).

     7.3 Transition. Seller will not take any action that is designed or intended to have
the effect of discouraging any lessor, licensor, customer, supplier, or other business associate of
Seller from maintaining the same business relationships with Purchaser after the Closing as it
maintained with Seller prior to the Closing.

     7.4 Purchasers shall provide evidence that Chartwell has been removed as guarantor from the
agreements listed on Schedule 7.4.

     7.5 During the Holdback Period, each of the Sellers shall obtain and deliver to Purchaser a
fully executed assignment and assumption agreement, and consent thereto, of each of the items on
Schedule 7.5 (each an “Assignment and Assumption Agreement”), and each Assignment and
Assumption Agreement shall be executed in form and substance satisfactory to Purchaser in its sole
discretion.

     7.6 Seven Hundred Thousand Dollars ($700,000.00) shall be held in escrow after Closing (the
“Settlement Holdback”). Seller shall settle each litigation case or resolve each matter listed on
Schedule 7.6 such that (i) with respect to item 1 on Schedule 7.6, all claims have
been dismissed with prejudice and all consideration for such dismissal(s) has been delivered to the
satisfaction of Purchaser; and (ii) with respect to item 2 on Schedule 7.6, any and all
outstanding invoices or accounts have been paid or satisfied in full to the satisfaction of
Purchaser. The Settlement Holdback shall be released upon the receipt by Purchaser of executed
settlement documents, each in a form acceptable to Purchaser, and (b) receipt of written
instructions from each of the Parties in a form reasonably acceptable to the Escrow Agent.

8. Conditions to Purchaser’s Obligation to Close.

The obligation of Purchaser to consummate the transactions to be performed by it in connection with
the Closing is subject to satisfaction of the following conditions:

     8.1 the representations and warranties set forth in Section 4 above shall be true and correct
in all material respects at and as of the Closing Date, except to the extent that such
representations and warranties are qualified by the term “material,” or contain terms such as
“Material Adverse Effect” or “Material Adverse Change,” in which case such representations and
warranties (as so written, including the term “material” or “Material”) shall be true and correct
in all respects at and as of the Closing Date;

     8.2 each of the Sellers shall have performed and complied with all covenants hereunder in all
material respects through the Closing, except to the extent that such covenants are qualified by
the term “material,” or contain terms such as “Material Adverse Effect” or “Material Adverse
Change,” in which case each of the Sellers shall

14

 

have performed and complied with all of such covenants (as so written, including the term
“material” or “Material”) in all respects through the Closing;

     8.3 no action, suit, or proceeding shall be pending before any court or quasi-judicial or
administrative agency of any federal, state, local, or foreign jurisdiction or before any
arbitrator wherein an unfavorable injunction, judgment, order, decree, ruling, or charge would (A)
prevent consummation of any of the transactions contemplated by this Purchase Agreement, (B) cause
any of the transactions contemplated by this Purchase Agreement or agreements with third parties
being assigned, transferred or assumed as a result of this Purchase Agreement to be rescinded
following consummation, or (C) adversely affect the right of Purchaser to own the Assets or to
become a party to, or perform under, the Assigned Contracts or to operate the Business;

     8.4 each of the Sellers and Chartwell shall have delivered to Purchaser a certificate to the
effect that each of the conditions specified above in Section 8.1, 8.2 and 8.3 is satisfied in all
respects;

     8.5 each of the Sellers and Chartwell shall have delivered to Purchaser a certificate of the
secretary or an assistant secretary of such Seller or Chartwell, as the case may be, dated the
Closing Date, in form and substance reasonably satisfactory to Purchaser, as to: (i) no amendments
to the certificate of incorporation of such Seller since the Effective Date; (ii) the bylaws of
such Seller; (iii) the resolutions of the board of directors (or a duly authorized committee
thereof) of such Seller and Chartwell, as the case may be, authorizing the execution, delivery, and
performance of this Purchase Agreement and the transactions contemplated hereby; and (iv)
incumbency and signatures of the officers of such Seller and Chartwell, as the case may be,
executing this Purchase Agreement or any other agreement contemplated by this Purchase Agreement;

     8.6 each of the Sellers shall obtain and deliver to Purchaser a fully executed assignment and
assumption agreement, and consent thereto, of the items on Schedule 8.6;

     8.7 each of the Sellers deliver to Purchaser a fully executed bill of sale and assignment to
transfer all of the Assets to Purchaser (the “Bill of Sale”), and the Bill of Sale shall be
executed in form and substance satisfactory to Purchaser in its sole discretion;

     8.8 Seller shall have settled the litigation case listed on Schedule 8.8 such that all
claims have been dismissed with prejudice and fully executed copy of an agreement evidencing such
settlement has been delivered to the Purchaser, and the form settlement agreement shall be in a
form to the satisfaction of Purchaser; provided, however, that Purchaser shall
assume the Assumed Liabilities.

Purchaser may waive any condition specified in this Section 8 if it executes a writing so stating
at or prior to the Closing.

9. Indemnification.

15

 

     9.1 Each Seller and Chartwell shall each indemnify and hold Purchaser, its officers,
directors, Affiliates, agents and employees (“Purchaser Indemnified Parties”) harmless from any and
all claims, demands, causes of action, losses, costs (including, without limitation, court costs
and attorneys’ fees), liabilities or damages of any kind or nature whatsoever other than the
Assumed Liabilities (“Losses”) that Purchaser Indemnified Parties may sustain by reason of either
or both of Sellers’ or Chartwell’s, without regard to whose, breach or non-fulfillment (whether by
action or inaction), at any time, of any representation, covenant or obligation under this Purchase
Agreement unless due to the intentional misconduct or gross negligence of Purchaser Indemnified
Parties. Further, each Seller and Chartwell each agree to indemnify and hold harmless the
Purchaser Indemnified Parties from any and all Losses that Purchaser Indemnified Parties may
sustain by reason of, or arising out of, any of the events or conditions listed on Schedule
9.1 unless due to the intentional misconduct or gross negligence of Purchaser Indemnified
Parties. All obligations of Sellers and Chartwell for indemnification under this Section 9.1
shall be joint and several.

     9.2 Purchaser shall indemnify and hold Sellers, their officers, directors, Affiliates, agents
and employees (“Seller Indemnified Parties”) harmless from any and all Losses whatsoever that such
Seller Indemnified Parties’ may sustain by reason of Purchaser’s breach or non-fulfillment (whether
by action or inaction), at any time, of any representation, covenant or obligation under this
Purchase Agreement unless due to the intentional misconduct or gross negligence of Seller
Indemnified Parties.

10. Confidentiality. The Parties hereto agree to keep this Purchase Agreement and the information
contained herein strictly confidential except as required to be disclosed by federal or state
securities laws. Any breach of the restrictions set forth in this Section may cause irreparable
harm to the non-breaching Party. Any such breach will entitled the non-breaching Party to
injunctive relief in addition to all legal remedies.

11. Definitions.

     “Affiliate” has the meaning set forth in Rule 12b-2 of the regulations promulgated under the
Securities Exchange Act.

     “Assets” means all right, title, and interest in and to all of the assets listed on
Schedule 4.4.

     “Assigned Contracts” means the contracts and agreements listed on Schedule 4.14.

     “Business” means the operations currently conducted by the Sellers using the Assets and the
Assigned Contracts at 95 Passaic Street, Passaic, New Jersey 07055.

     “Cash” means cash and cash equivalents (including marketable securities and short-term
investments) calculated in accordance with GAAP applied on a basis consistent with the preparation
of the Financial Statements.

     “CERCLA” has the meaning set forth in Section 4.18.

     “Closing” has the meaning set forth in Section 1.

16

 

     “Closing Date” has the meaning set forth in Section 1.

     “Code” means the Internal Revenue Code of 1986, as amended and the rules and regulations
promulgated thereunder.

     “Confidential Information” means any information concerning the Business and affairs of Seller
that is not already generally available to the public.

     “Environmental, Health, and Safety Requirements” means all federal, state and local statutes,
regulations, ordinances, and similar provisions having the force or effect of law, all judicial and
administrative orders and determinations, and all common law concerning public health and safety,
worker health and safety, and pollution or protection of the environment, including all those
relating to the presence, use, production, generation, handling, transportation, treatment,
storage, disposal, distribution, labeling, testing, processing, discharge, release, threatened
release, control, or cleanup of any hazardous materials, substances, or wastes, chemical substances
or mixtures, pesticides, pollutants, contaminants, toxic chemicals, petroleum products or
byproducts, asbestos, polychlorinated biphenyls, noise, or radiation.

     “Escrow Agent” has the meaning set forth in Section 2.1.

     “Escrow Agreement” means the Escrow Agreement entered into concurrently herewith and attached
hereto as EXHIBIT A.

     “Escrow Closing Payments” means any amounts of the Deposit released by the Escrow Agent
pursuant to Section 2.2.

     “Escrow Increase Date” means December 28, 2007.

     “Excluded Assets” means all assets, other than Assets, including Seller’s (a) tangible
personal property (such as machinery, equipment, inventories of raw materials and supplies,
manufactured and purchased parts, goods in process and finished goods, furniture, automobiles,
trucks, tractors, trailers, tools, jigs, and dies), (b) Intellectual Property, goodwill associated
therewith, licenses and sublicenses granted and obtained with respect thereto, and rights
thereunder, remedies against infringements thereof, and rights to protection of interests therein
under the laws of all jurisdictions, (c) leases, subleases, and rights thereunder, (d) agreements,
contracts, indentures, mortgages, instruments, Liens, guaranties, other similar arrangements, and
rights thereunder, (e) accounts, notes, and other receivables, (f) securities, (f) claims,
deposits, prepayments, refunds, causes of action, choses in action, rights of recovery, rights of
set-off, and rights of recoupment (including any such item relating to the payment of Taxes), (h)
franchises, approvals, permits, licenses, orders, registrations, certificates, variances, and
similar rights obtained from governments and governmental agencies, (i) books, records, ledgers,
files, documents, correspondence, lists, plats, architectural plans, drawings, and specifications,
creative materials, advertising and promotional materials, studies, reports, and other printed or
written materials, and (j) Cash in an amount equal to Seller’s good faith estimate of the unpaid
Taxes (other than Income Taxes) of Seller arising with respect to periods beginning after the date
of the Most Recent Balance Sheet in the Ordinary Course of Business (computed in accordance with
the past custom and practice of Seller in filing its Tax Returns), provided, however, that the
Assets shall not include (i) the corporate charter, qualifications to conduct business as a foreign

17

 

corporation, arrangements with registered agents relating to foreign qualifications, taxpayer
and other identification numbers, seals, minute books, stock transfer books, blank stock
certificates, and other documents relating to the organization, maintenance, and existence of
Seller as a corporation or (ii) any of the rights of Seller under this Purchase Agreement (or under
any side agreement between Seller on the one hand and Purchaser on the other hand entered into on
or after the date of this Purchase Agreement).

     “Facility” means that real property and all improvements thereon located at 95 Passaic Street,
Passaic, New Jersey 07055.

     “Financial Statements” has the meaning set forth in Section 4.6.

     “GAAP” means U.S. generally accepted accounting principles as in effect from time to time,
consistently applied.

     “Holdback Amount” means an amount equal to $100,000.

     “Holdback Period” means the 90-day period starting on the Closing Date.

     “Income Tax” means any federal, state, local, or foreign income tax, including any interest,
penalty, or addition thereto, whether disputed or not.

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

     “Intellectual Property” means all of the following in any jurisdiction throughout the world:
(a) all inventions (whether patentable or unpatentable and whether or not reduced to practice), all
improvements thereto, and all patents, patent applications, and patent disclosures, together with
all reissuances, continuations, continuations-in-part, revisions, extensions, and reexaminations
thereof, (b) all trademarks, service marks, trade dress, logos, slogans, trade names, corporate
names, Internet domain names, and rights in telephone numbers, together with all translations,
adaptations, derivations, and combinations thereof and including all goodwill associated therewith,
and all applications, registrations, and renewals in connection therewith, (c) all copyrightable
works, all copyrights, and all applications, registrations, and renewals in connection therewith,
(d) all mask works and all applications, registrations, and renewals in connection therewith, (e)
all trade secrets and confidential business information (including ideas, research and development,
know-how, formulas, compositions, manufacturing and production processes and techniques, technical
data, designs, drawings, specifications, customer and supplier lists, pricing and cost information,
and business and marketing plans and proposals), (f) all computer software (including source code,
executable code, data, databases, and related documentation), (g) all advertising and promotional
materials, (h) all other proprietary rights, and (i) all copies and tangible embodiments thereof
(in whatever form or medium).

     “Lien” means any mortgage, pledge, lien, encumbrance, charge, or other security interest other
than (a) liens for Taxes not yet due and payable (b) purchase money liens and liens securing rental
payments under capital lease arrangements, and (c) other liens

18

 

arising in the Ordinary Course of Business and not incurred in connection with the borrowing
of money.

     “Material Adverse Effect” or “Material Adverse Change” means any effect or change that would
be materially adverse to the business, assets, condition (financial or otherwise), operating
results, operations, or business prospects of Seller, taken as a whole, or to the ability of any
Party to consummate timely the transactions contemplated hereby.

     “Most Recent Balance Sheet” means the balance sheet contained within the Most Recent Financial
Statements.

     “Most Recent Financial Statements” has the meaning set forth in Section 4.6.

     “Most Recent Fiscal Month End” has the meaning set forth in Section 4.6.

     “Most Recent Fiscal Year End” has the meaning set forth in Section 4.6.

     “NYGLR” means New York & Greenwood Lake Railway, a New Jersey corporation.

     “NYGLR Amount” means Three Thousand Five Hundred Ninety Three Dollars and 65/100 ($3,593.65)
to be paid by Sellers to NYGLR from the purchase price.

     “Net Deposit” means the Deposit less any Escrow Closing Payments.

     “Ordinary Course of Business” means the ordinary course of business consistent with past
custom and practice (including with respect to quantity and frequency).

     “Party” and “Parties” have the meaning set forth in the preface above.

     “Permit” means any Regulatory Authority approval, authorization, certificate, easement,
filing, franchise, license, notice, permit, or right to which any Person is a party or that is or
may be binding upon or inure to the benefit of any Person or its securities, assets, or business.

     “Person” means an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated organization, any
other business entity or a governmental entity (or any department, agency, or political subdivision
thereof).

     “Purchaser” has the meaning set forth in the preface above.

     “Regulatory Authority” means any federal, state, county, local, foreign or other governmental,
public or regulatory agencies, authorities (including self-regulatory authorities),
instrumentalities, commissions, boards or bodies having jurisdiction over the Parties.

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

19

 

     “Seller” has the meaning set forth in the preface above.

     “Settlement Holdback” has the meaning set forth in Section 7.6.

     “Subsidiary” means, with respect to any Person, any corporation, limited liability company,
partnership, association, or other business entity of which (i) if a corporation, a majority of the
total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, or trustees thereof is at the time
owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof or (ii) if a limited liability company,
partnership, association, or other business entity (other than a corporation), a majority of the
partnership or other similar ownership interests thereof is at the time owned or controlled,
directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination
thereof and for this purpose, a Person or Persons own a majority ownership interest in such a
business entity (other than a corporation) if such Person or Persons shall be allocated a majority
of such business entity’s gains or losses or shall be or control any managing director or general
partner of such business entity (other than a corporation).

     “Systems” has the meaning set forth in Section 4.19.

     “Tax” or “Taxes” means any federal, state, local, or foreign income, gross receipts, license,
payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental
(including taxes under Code §59A), customs duties, capital stock, franchise, profits, withholding,
social security (or similar), unemployment, disability, real property, personal property, sales,
use, transfer, registration, value added, alternative or add-on minimum, estimated, or other tax of
any kind whatsoever, whether computed on a separate or consolidated, unitary or combined basis or
in any other manner, including any interest, penalty, or addition thereto, whether disputed or not.

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

     “Treasury Regulations” means the regulations promulgated by the United States Treasury
Department under the Code.

12. Miscellaneous. This Purchase Agreement shall be interpreted and enforced under the laws of the
State of Delaware, without regard to its conflict of law principles. For all disputes arising out
of this Purchase Agreement, the Parties consent to the jurisdiction and venue of the courts located
in the state of Delaware. This Purchase Agreement shall be construed without regard to the Party or
Parties responsible for its preparation and shall be deemed to have been prepared jointly by the
Parties. All headings in this Purchase Agreement are included solely for convenient reference, and
shall not affect its interpretation. If any provision of this Purchase Agreement is determined by
a court to be unenforceable as drafted, that provision shall be construed in a manner designed to
effectuate its purpose to the greatest extent possible under applicable law, and the enforceability
of other provisions shall not be affected. This Purchase Agreement and the agreements included as
exhibits attached hereto supersede any prior and contemporaneous agreements whether oral or written
between

20

 

the Parties concerning its subject matter. The waiver of one breach or default or any delay in
exercising any rights will not constitute a waiver of any subsequent breach or default. No term of
this Purchase Agreement shall be considered waived and no breach excused by either Party unless
made in writing. No consent, waiver, or excuse by either Party, express or implied, unless in
writing, shall constitute a subsequent consent, waiver or excuse. This Purchase Agreement shall be
binding upon and inure to the benefit of the Parties named herein and their respective successors
and permitted assigns. This Purchase Agreement may be executed in one or more counterparts
(including by means of facsimile), each of which shall be deemed an original but all of which
together will constitute one and the same instrument. No amendment of any provision of this
Agreement shall be valid unless the same shall be in writing and signed by Purchaser and Seller.

13. Assignment. Purchaser may assign, in whole or in part, its interest in this Purchase Agreement
without the prior written consent of the Seller; provided, however, that Purchaser shall provide
written notice of such assignment within ten (10) days thereof.

14. Termination.

     14.1 Right to Terminate by Either Party. Either Party may terminate this Agreement by
giving written notice to the other Party at any time prior to the Closing (A) in the event the
other Party has breached any material representation, warranty, or covenant contained in this
Agreement in any material respect, the non-breaching Party has notified the other Party of the
breach, and the breach has continued without cure for a period of 10 days after the notice of
breach, or (B) if the Closing shall not have occurred on or before January 31, 2008, by reason of
the failure of any condition precedent under Section 8 hereof (unless the failure results primarily
from Purchaser itself breaching any representation, warranty, or covenant contained in this
Agreement).

     14.2 Purchaser’s Right to Terminate. Purchaser may terminate this Agreement by giving
written notice to Seller on or before the Escrow Increase Date if Purchaser is not satisfied, in
its sole discretion, with the results of any of its business, legal, environmental, and accounting
due diligence regarding Seller, the Assets and the Assigned Contracts.

     14.3 Effect of Termination. If Purchaser terminates this Agreement pursuant to
Section 14.1 or 14.2 above, all rights and obligations of the Parties hereunder shall terminate
without any liability of any Party to the other Party (except for any Liability of any Party then
in breach), and the Escrow Agent shall distribute the Net Deposit to Purchaser. If Seller
terminates this Agreement pursuant to Section 14.4 below, all rights and obligations of the Parties
hereunder shall terminate without any liability of any Party to the other Party (except for any
Liability of any Party then in breach), and the Escrow Agent shall distribute the Net Deposit to
Purchaser.

     14.4 Seller’s Right to Terminate. If Purchaser does not provide written notice to
Seller by 5:00 pm Eastern time on January 18, 2008 that the Diligence Closing Condition listed as
Item 1 on Exhibit B has either been satisfied or waived, Seller may terminate this
Agreement by giving written notice of such termination to Purchaser.

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15. Notices. All notices, requests, demands, claims, and other communications hereunder shall be
in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed
duly given (i) when delivered personally to the recipient, (ii) 1 business day after being sent to
the recipient by reputable overnight courier service (charges prepaid), (iii) upon receipt of
evidence by the sending Party confirming that such communication was sent successfully by facsimile
transmission or electronic mail, or (iv) 4 business days after being mailed to the recipient by
certified or registered mail, return receipt requested and postage prepaid, and addressed to the
intended recipient as set forth below:

	 	 	 
	If to either Seller:

	 	Hudson Logistics Loading, Inc.
	 

	 	140 East Main Street
	 

	 	Middleton, New York 10940
	 

	 	Attention: President
	 

	 	Facsimile: (949) 645-2817
	 

	 	Email: imre@orchestrafinance.com
	 
	 	 
	with a copy to:

	 	Weintraub Genshlea Chediak
	 

	 	400 Capitol Mall, Suite 1100
	 

	 	Sacramento, California 95814
	 

	 	Attention: Mark Lee
	 

	 	Facsimile: (916) 446-1611
	 

	 	Email: mlee@weintraub.com
	 
	 	 
	If to Chartwell:

	 	Chartwell International, Inc.
	 

	 	140 East Main Street
	 

	 	Middletown, New York 10940
	 

	 	Attention: President
	 

	 	Facsimile: (949) 645-2817
	 

	 	Email: imre@orchestrafinance.com
	 
	 	 
	with a copy to:

	 	Weintraub Genshlea Chediak
	 

	 	400 Capitol Mall, Suite 1100
	 

	 	Sacramento, California 95814
	 

	 	Attention: Mark Lee
	 

	 	Facsimile: (916) 446-1611
	 

	 	Email: mlee@weintraub.com
	 
	 	 
	If to Purchaser:

	 	Perry New Jersey I, LLC
	 

	 	2870 Peachtree Road
	 

	 	P.O. Box 126
	 

	 	Atlanta, GA 30305
	 

	 	Attention: John K. Porter, Jr.
	 

	 	Facsimile: (404) 923-1415
	 

	 	Email: John.Porter@cbre.com
	 
	 	 
	With a copy to:

	 	Hartman, Simons, Spielman & Wood, LLP
	 

	 	6400 Powers Ferry Road
	 

	 	Suite 400
	 

	 	Atlanta, Georgia 30339
	 

	 	Attention: A. Josef DeLisle

22

 

	 	 	 
	 

	 	Facsimile: (770) 951-6787
	 

	 	Email: jdelisle@hssw.com

Any Party may change the address to which notices, requests, demands, claims, and other
communications hereunder are to be delivered by giving the other Party notice in the manner herein
set forth.

(Signature Pages Immediately Follow)

23

 

     IN WITNESS WHEREOF, the Parties have executed this Purchase Agreement as of the Effective
Date.

	 	 	 	 	 	 	 	 	 	 	 
	SELLERS:	 	 	 	PURCHASER
	 
	 	 	 	 	 	 	 	 	 	 
	HUDSON LOGISTICS, INC.	 	 	 	PERRY NEW JERSEY I, LLC
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 	 	 	 	John K. Porter, Jr.
	 

	 	Title
	 	 

	 	 	 	 	 	Member
	 

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	HUDSON LOGISTICS LOADING, INC.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 
	 

	 	Title
	 	 

	 	 	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	CHARTWELL INTERNATIONAL, INC.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 
	 

	 	Title
	 	 

	 	 	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 

Signature Page to Purchase Agreement

 

 

EXHIBIT A

Escrow Agreement

 

 

EXHIBIT B

Amendment of the Facility Capacity Agreement, dated January 7, 2005, by and between New York &
Greenwood Lake Railway (“NYGLR”) and Steel Wheels Transport, LLC, and (ii) the Railcar Loading
Agreement, dated January 7, 2005, by and between NYGLR and Team G Loading, LLC, each to Purchaser’s
sole satisfaction.exv10w2

 

Exhibit 10.2

EXECUTION COPY

SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE

     This Settlement Agreement and Mutual General Release (“Agreement”) is made and entered into as
of February 5, 2008, by and among A&L Salvage, LLC, a Pennsylvania limited liability company
(“A&L”), Apex Environmental, LLC, a Delaware limited liability company (“Apex”), Hudson Logistics,
Inc., a Delaware corporation (“Hudson”) and Chartwell International, Inc., a Nevada corporation
(“Chartwell”). A&L, Apex, Hudson and Chartwell are collectively referred to herein as the
“Parties.”

RECITALS

     Whereas, A&L and Apex filed a complaint against Hudson and Chartwell in the Superior
Court of New Jersey, Passaic County, New Jersey, entitled A&L Salvage, LLC and Apex
Environmental, LLC vs. Chartwell International, Inc. and Hudson Logistics, Inc., Docket No.
PAS-L-4344-07, filed October 18, 2007 and amended January 18, 2008, which includes claims for
nonpayment for service rendered (the “Action”);

     Whereas, the Parties desire to fully and finally resolve, settle, compromise, and
discharge any and all actual or potential claims and controversies between them, regardless of
whether such actual or potential claims are known or unknown; and

     Therefore the Parties agree as follows:

AGREEMENT

     In consideration of the promises and mutual covenants, waivers, and releases contained herein,
it is hereby agreed by and between the Parties hereto as follows:

1. Hudson shall pay to Apex and A&L the total sum of Four Hundred and Ninety Thousand Dollars
($490,000.00) on behalf of Hudson and Chartwell to fully settle all outstanding claims and invoices
of Apex and A&L incurred by Hudson as alleged in the Action (the “Payment”). Said Payment shall
be sent via wire transfer no later than February 6, 2008, in the amounts and pursuant to the
information set forth below. The Payment shall represent full payment of any and all sums due to
Apex and A&L by Hudson, Chartwell, and/or their respective assignees with respect to all
outstanding claims, debts and/or invoices of Apex and A&L incurred and owing by Hudson through the
date of this Agreement in relation to the business of Hudson. A&L and Apex’s receipt of the
Payment shall be conclusive evidence of Hudson and Chartwell meeting their obligations under this
Agreement and, as of the time of receipt of payment, there is no breach or default of any contract
affecting or having any relation to the Action or the rights of the Parties, any such alleged prior
breach or default having been cured or resolved, nor is there any claim or threatened claim of such
a breach or default that is being asserted or will be asserted relating to activities through said
date and time.

	 	 	 
	Wire Transfer Information
	 	 
	 
	 	 
	For A&L: $345,959.11

	 	For Apex: $144,040.89
	 
	 	 
	Bank: Huntington National Bank, Ohio

	 	Bank: Comerica Bank, Detroit, Michigan

1

 

EXECUTION COPY

	 	 	 
	ABA# 044000024

	 	ABA# 072000096
	 
	 	 
	Acct Name: A&L Salvage

	 	Acct Name: Apex Environmental Depository Account
	 
	 	 
	Acct #: 01789759587

	 	Acct#: 1852400827

2. All claims that A&L and Apex have asserted or could have asserted in the Action shall be
dismissed with prejudice, with waiver of all rights of appeal and other judicial review, attorneys’
fees and/or costs. Upon receipt of the Payment, A&L and Apex shall direct their respective counsel
to execute and file with the Superior Court of New Jersey, Passaic County, a Stipulation of
Dismissal With Prejudice of All Claims in the form attached hereto as Exhibit A.

3. A&L and Apex individually and jointly do hereby release, acquit and fully and forever discharge
each of Hudson and Chartwell, together with its respective directors, officers, employees,
successors, affiliates, agents, representatives, assigns, and attorneys, in such capacities, of and
from all actions, causes of action, accounts, agreements, attorneys’ fees, bonds, covenants,
contracts, controversies, claims, damages, demands, debts, executions, judgments, liabilities,
obligations, promises, predicate acts, reckonings, suits, sums of money, trespasses and variances
whatsoever, whether known or unknown, contingent or fixed, in law, admiralty or equity, which A&L
and Apex now have or ever had against Hudson or Chartwell from the beginning of the world to the
date of this Agreement, that relate to or arise out of the facts or subject matter that were
asserted or could have been asserted in the Action through this date, provided that any
obligations created by or set forth in this Agreement shall not be released.

4. Hudson and Chartwell individually and jointly do hereby release, acquit and fully and forever
discharge each of A&L and Apex, together with its respective directors, officers, employees,
successors, affiliates, agents, representatives, assigns, and attorneys, in such capacities, of and
from all actions, causes of action, accounts, agreements, attorneys’ fees, bonds, covenants,
contracts, controversies, claims, damages, demands, debts, executions, judgments, liabilities,
obligations, promises, predicate acts, reckonings, suits, sums of money, trespasses and variances
whatsoever, whether known or unknown, contingent or fixed, in law, admiralty or equity, which
Hudson and Chartwell now have or ever had against A&L or Apex from the beginning of the world to
the date of this Agreement, that relate to or arise out of the facts or subject matter that were
asserted or could have been asserted in the Action, provided that any obligations created
by or set forth in this Agreement shall not be released.

5. A&L and Apex individually and jointly release, acquit and fully and forever each discharge the
other, together with respective directors, officers, employees, successors, affiliates, agents,
representative, assigns, and attorneys, in such capacities, of and from all actions, claims,
damages, demands, debts, executions, judgments, liabilities, obligations, promises, predicate acts,
reckonings, suits, sums of money, trespasses and variances whatsoever, whether known or unknown,
contingent or fixed, but only as related to their respective claims against Hudson and/or
Chartwell, regardless of whether such claims were or could have been asserted in the Action.

2

 

EXECUTION COPY

6. The Parties, and each of them, warrant and in good faith represent that there has been, and
there will be, no assignment or transfer of any interest in any of the claims released hereunder,
and each of the Parties agree to indemnify and hold each other harmless from any liability, claims,
demands, damages, costs, expenses, and attorney fees by any of them as a result of any person
asserting such assignment or transfer of any rights or claims released hereunder.

7. The Parties, and each of them, acknowledge, agree, and represent that it: (a) has had the
opportunity to be represented in connection with the negotiation and preparation of this Agreement
by counsel of that Party’s choosing; (b) has read the Agreement and has had it fully explained by
its counsel, if applicable; (c) it is fully aware of the contents and legal affect of this
Agreement; and (d) has authority to enter into and sign the Agreement.

8. This Agreement shall bind the heirs, personal representatives, successors and assigns of each of
the Parties and shall inure to the benefit of each of the Parties, its agents, directors, officers,
employees, attorneys, successors, and assigns.

9. The Parties, and each of them, hereby acknowledge and agree that neither the execution of this
Agreement nor the performance of any act pursuant to the Agreement constitutes an admission of
liability, express or implied, of any of the Parties with respect to any fact or matter which may
have arisen in connection with the Action. This Agreement is entered into for the purpose of
amicably resolving the disputes that have arisen between the Parties without further expenditure of
attorney fees or other resources.

10. The Parties, and each of them, warrant and represent that, to the best of its knowledge, all
facts and information underlying and contained within this Agreement is true and correct.
Notwithstanding the foregoing, the Parties, and each of them, acknowledge that the facts may turn
out to be other than, or different from, the facts now believed by them to be true. The Parties
expressly assume the risk of the facts turning out to be different than they believe them to be,
and the Parties, and each of them, agree that this Agreement shall in all respects be effective and
not subject to termination or rescission because of any such mistaken belief.

11. The Parties acknowledge that each of the Parties has participated in the drafting and
negotiation of this Agreement. For purposes of interpreting this Agreement, each provision,
paragraph, sentence and word herein shall be deemed to have been jointly drafted by the Parties.
The Parties intend for this Agreement to be construed and interpreted neutrally in accordance with
the plain meaning of the language contained herein, and not presumptively construed against any
actual or purported drafter of any specific language contained herein.

12. This Agreement contains the entire and all of the agreements between the Parties hereto and
constitutes the complete, final and exclusive embodiment of their Agreement with respect to the
subject matters covered in this Agreement. Any and all prior or contemporaneous oral or written
agreements, understandings, representations, and statements, oral or written, are merged into and
superseded by this Agreement. No claimed additions to or modifications or amendments of this
Agreement, nor any claimed waiver of its terms or conditions, shall be effective unless in writing
and signed by the duly authorized representative of the Party against whom the same may be
asserted.

3

 

EXECUTION COPY

13. Each Party shall bear its costs, expenses, and attorney fees, whether taxable or otherwise
incurred in, or arising out of, or in any way related to the matters released, including without
limitation, costs, expenses, attorney fees and taxes incurred in, or arising out of, or related to
the subject matter of this Agreement and the Action.

14. This Agreement shall be deemed to have been entered into, and shall be construed and enforced
in accordance with the laws of the State of Delaware as applied to contracts made and to be
performed entirely in Delaware. Any such action or proceeding shall be brought in the Superior
Court of New Jersey, Law Division, Passaic County, as a request to re-open the Action for purposes
of enforcement of this Settlement Agreement.

15. Should any Party hereto bring an action or proceeding for the purpose of enforcing this
Agreement, then, in such an event, the prevailing party shall be entitled to be reimbursed by the
losing party for all costs and expenses incurred as a result thereof, including, but not limited
to, reasonable attorney fees.

16. Whenever the text hereof requires, the use of the singular noun shall include the appropriate
plural noun and vice-versa.

17. This Agreement may be executed in two or more counterparts. Facsimile signatures shall be
acceptable.

     BY SIGNING BELOW I REPRESENT THAT I HAVE AUTHORITY TO EXECUTE THIS AGREEMENT ON BEHALF OF THE
PARTY INDICATED ABOVE MY NAME, AND I REPRESENT THAT I HAVE READ, UNDERSTAND, AND AGREE TO ALL OF
THE TERMS SET FORTH IN THIS AGREEMENT.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dated: February __, 2008	 	 	 	Dated: February __, 2008	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A&L Salvage, LLC	 	 	 	Apex Environmental, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	 	 	By:	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 
	 	 
	 

	 	Name:
	 	 	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 	 
	 	 
	 

	 	Title:
	 	 	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dated: February 6, 2008	 	 	 	Dated: February 6, 2008	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hudson Logistics, Inc.	 	 	 	Chartwell International, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	 	 	By:	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 
	 	 
	 

	 	Name:
	 	 	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 	 
	 	 
	 

	 	Title:
	 	 	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 	 	 	 	 	 	 
	 	 

4

 

EXECUTION COPY

Exhibit A

5

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