Document:

Exhibit 10.1

Exhibit 10.1

STOCK PURCHASE AGREEMENT

dated as of

December 21, 2010

by and among

SCIQUEST, INC.

AND

TOM (YITAO) REN, YING (LILY) XIONG, JOHN PAUL GUTIERREZ

AND

RONALD DRESSIN

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	Article I. PURCHASE AND SALE
	 	 	1	 
	1.01 Purchase and Sale
	 	 	1	 
	1.02 Purchase Price
	 	 	2	 
	1.03 AECsoft USA Closing
	 	 	5	 
	1.04 AEC Global Closing
	 	 	6	 
	1.05 Closing Balance Sheets
	 	 	7	 
	Article II. REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS
	 	 	8	 
	2.01 Corporate Existence and Power
	 	 	8	 
	2.02 No Subsidiaries
	 	 	8	 
	2.03 Organization Documents; Books and Records
	 	 	9	 
	2.04 Authorization and Enforceability
	 	 	9	 
	2.05 Non-Contravention
	 	 	9	 
	2.06 Contracts
	 	 	10	 
	2.07 Consents; Approvals; Permits
	 	 	11	 
	2.08 Capitalization
	 	 	12	 
	2.09 Financial Statements
	 	 	13	 
	2.10 No Liabilities
	 	 	13	 
	2.11 No Material Adverse Change
	 	 	14	 
	2.12 Assets and Properties
	 	 	15	 
	2.13 Title to Property; Encumbrances
	 	 	15	 
	2.14 Litigation
	 	 	16	 
	2.15 Compliance with Laws
	 	 	16	 
	2.16 Intellectual Proprietary Rights
	 	 	17	 
	2.17 Employees
	 	 	19	 
	2.18 Insurance
	 	 	19	 
	2.19 Environmental Matters
	 	 	20	 
	2.20 Employee Benefit Plans
	 	 	20	 
	2.21 Taxes
	 	 	23	 
	2.22 Banks Accounts and Powers of Attorney
	 	 	24	 
	2.23 Accounts Receivable
	 	 	24	 
	2.24 Customers
	 	 	24	 
	2.25 Finders’ Fees
	 	 	25	 
	2.26 Related-Party Transactions
	 	 	25	 
	2.27 Warranty and Related Matters
	 	 	25	 
	2.28 Investment
	 	 	25	 
	2.29 Accuracy of Information Furnished
	 	 	25	 
	Article III. REPRESENTATIONS AND WARRANTIES OF BUYER
	 	 	26	 
	3.01 Corporate Existence
	 	 	26	 
	3.02 Corporate Authorization and Enforceability
	 	 	26	 
	3.03 Non-Contravention
	 	 	26	 
	3.04 Consents
	 	 	26	 
	3.05 Capitalization
	 	 	27	 
	3.06 Securities and Exchange Commission Filings
	 	 	27	 
	3.07 Litigation
	 	 	27	 

 

 

 

	 	 	 	 	 

	3.08 Issuance of Buyer Shares
	 	 	27	 
	3.09 Accuracy of Information Furnished
	 	 	27	 
	Article IV. COVENANTS OF THE SHAREHOLDERS
	 	 	28	 
	4.01 Conduct of the Business
	 	 	28	 
	4.02 Notices of Certain Events
	 	 	29	 
	4.03 Maintenance of Business Relationships
	 	 	29	 
	4.04 Termination of 401(k) Plan
	 	 	30	 
	4.05 Access to Information
	 	 	30	 
	4.06 Covenant Not to Compete
	 	 	30	 
	4.07 No Solicitation
	 	 	31	 
	Article V. OTHER AGREEMENTS
	 	 	32	 
	5.01 Commercially Reasonable Efforts; Further Assurances
	 	 	32	 
	5.02 Certain Filings and Approvals
	 	 	32	 
	5.03 Public Announcements
	 	 	32	 
	5.04 Expenses
	 	 	32	 
	5.05 Transfer of Assets
	 	 	33	 
	5.06 Tax Matters
	 	 	33	 
	5.07 Resales of the Shares
	 	 	33	 
	Article VI. CONDITIONS TO CLOSING
	 	 	34	 
	6.01 Conditions to the Obligations of Each Party
	 	 	34	 
	6.02 Conditions to Obligation of Buyer
	 	 	34	 
	6.03 Conditions to Obligations of the Shareholders
	 	 	35	 
	Article VII. SURVIVAL; INDEMNIFICATION
	 	 	36	 
	7.01 Survival of Representations, Warranties, Covenants and Agreements
	 	 	36	 
	7.02 Indemnification of the Buyer Indemnified Parties
	 	 	36	 
	7.03 Indemnification of the Shareholder Indemnified Parties
	 	 	38	 
	7.04 Escrow Fund
	 	 	39	 
	7.05 General Indemnification Procedures
	 	 	39	 
	7.06 Shareholders Agent
	 	 	42	 
	Article VIII. TERMINATION, AMENDMENT AND WAIVER
	 	 	43	 
	8.01 Grounds for Termination
	 	 	43	 
	8.02 Effect of Termination
	 	 	44	 
	8.03 Amendment
	 	 	44	 
	8.04 Extension; Waiver
	 	 	44	 
	Article IX. MISCELLANEOUS
	 	 	44	 
	9.01 Entire Agreement
	 	 	44	 
	9.02 Usage
	 	 	44	 
	9.03 Headings
	 	 	45	 
	9.04 Counterparts
	 	 	46	 
	9.05 Notices
	 	 	46	 
	9.06 Governing Law
	 	 	47	 
	9.07 Relationship of Parties
	 	 	47	 
	9.08 No Assignment; Binding Effect
	 	 	47	 
	9.09 Severability
	 	 	48	 
	9.10 No Third-Party Beneficiaries
	 	 	48	 
	DEFINITIONS
	 	 	1	 

 

3

 

Exhibits:

	 	 	 

	Exhibit A

	 	Definitions
	Exhibit B

	 	Escrow Agreement
	Exhibit C

	 	Form of Legal Opinion
	Exhibit D

	 	AECsoft USA Stock Assignment Agreement
	Exhibit E

	 	Stock Restriction Agreement
	Exhibit F

	 	Intellectual Property Agreement
	Exhibit G

	 	AEC Global Share Transfer Agreement
	Exhibit H

	 	Disclosure Schedules

Schedules:

	 	 	 

	Schedule 1.02(e)

	 	Allocation of Purchase Price
	Schedule 2.06(a)

	 	Material Contracts
	Schedule 2.06(b)

	 	Terminated Contracts
	Schedule 2.07(a)

	 	Required Consents
	Schedule 2.07(b)

	 	New Approvals Required
	Schedule 2.07(c)

	 	Approvals Required to Conduct the Business
	Schedule 2.08(b)

	 	Share Ownership
	Schedule 2.09

	 	Financial Statements
	Schedule 2.10

	 	Liabilities
	Schedule 2.11

	 	Changes
	Schedule 2.12(a)

	 	Real Estate Leases
	Schedule 2.13

	 	Liens
	Schedule 2.14

	 	Litigation
	Schedule 2.16(a)

	 	Registrations
	Schedule 2.16(b)(i)

	 	Company Proprietary Software
	Schedule 2.16(b)(ii)

	 	Third Party Software
	Schedule 2.16(c)(v)

	 	Intellectual Property to be Transferred to the Company
	Schedule 2.16(e)

	 	Publicly Available Software, Harmful Code and Source Code Escrows
	Schedule 2.16(h)

	 	Software Developers
	Schedule 2.17(a)

	 	Employees
	Schedule 2.18(a)

	 	Insurance
	Schedule 2.20

	 	Employee Benefit Plans
	Schedule 2.22

	 	Banks Accounts and Powers of Attorney
	Schedule 2.23

	 	Accounts Receivable
	Schedule 2.24

	 	Customers
	Schedule 2.26

	 	Related-Party Transactions
	Schedule 2.27

	 	Product and Service Warranties
	Schedule 7.02

	 	Indemnification Matters

 

 

 

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE AGREEMENT (the “Agreement”) is made as of the 21st day of
December, 2010, by and among SciQuest, Inc., a Delaware corporation (“Buyer”), and Yitao
(Tom) Ren (“Ren”), Ying (Lily) Xiong (“Xiong”), John Paul Gutierrez (“Gutierrez”) and Ronald
Dressin (“Dressin”) (Ren, Xiong, Gutierrez and Dressin are sometimes referred to herein
individually as a “Shareholder” and collectively as the “Shareholders”).

W I T N E S S E T H:

WHEREAS, (i) the Shareholders collectively own all of the issued and outstanding shares (the
“AECsoft USA Shares”) of the common stock, no par value, of AECsoft USA, Inc., a Texas
corporation (“AECsoft USA”) and (ii) Ren owns all of the issued and outstanding shares (the
“AEC Global Shares”, and together with the AECsoft USA Shares, the “Shares”) of the
capital stock of AEC Global (Shanghai) Co., Ltd. (“AEC Global”);

WHEREAS, AECsoft USA and AEC Global are sometimes referred to collectively as the
“Company”;

WHEREAS, Buyer desires to purchase from the Shareholders, and the Shareholders desire to sell
to Buyer, the AECsoft USA Shares upon the terms and subject to the conditions hereinafter set
forth;

WHEREAS, Buyer desires to purchase from Ren, and Ren desires to sell to Buyer, the AEC Global
Shares upon the terms and subject to the conditions hereinafter set forth; and

WHEREAS, certain capitalized terms used herein are defined in Exhibit A hereof.

NOW, THEREFORE, in consideration of the mutual agreements, covenants and other promises set
forth herein, the mutual benefits to be gained by the performance thereof, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged and accepted,
and intending to be legally bound hereby, the parties hereto agree as follows:

ARTICLE I. PURCHASE AND SALE

1.01 Purchase and Sale. Upon the terms and subject to the conditions of this Agreement, (i) the Shareholders agree to
sell, transfer, assign and deliver to Buyer, free and clear of all Liens, the AECsoft USA Shares at
the AECsoft USA Closing and (ii) Ren agrees to sell, transfer, assign and deliver to Buyer, free
and clear of all Liens, the AEC Global Shares at the AEC Global Closing.

 

 

 

1.02 Purchase Price.

(a) Subject to the terms and conditions of this Agreement, in consideration of the sale and
assignment of the AECsoft USA Shares by the Shareholders to Buyer, Buyer agrees to the
following (collectively, together with any amounts payable pursuant to Section 1.05(d), the
“AECsoft USA Purchase Price”):

(i) At the AECsoft USA Closing, Buyer shall pay to the Shareholders in cash an aggregate
amount equal to Nine Million Dollars ($9,000,000) (the “AECsoft USA Cash Consideration”)
less (i) the Cash Escrow Amount and (ii) the amount of the Transaction Expenses reflected on the
Transaction Expenses Certificate;

(ii) At the AECsoft USA Closing, Buyer shall issue to the Shareholders 325,203 shares of the
common stock, par value $0.001 per share, of Buyer (the “Buyer Common Stock”) less the
Share Escrow Amount, which was determined based on a closing price of the Buyer Common Stock of
$12.30 on November 11, 2010.

(iii) At the AECsoft USA Closing, Buyer shall deposit with the Escrow Agent the Cash Escrow
Amount and the Share Escrow Amount (collectively, the “Escrow Amount”), which shall be held
by the Escrow Agent pursuant to the Escrow Agreement; and

(iv) Subject to Section 1.02(c) below, (A) if the AECsoft Revenues for the First Earnout
Period are equal to or exceed the First Earnout Target, then on or before March 31, 2012, Buyer
shall issue to the Shareholders 121,951 shares of Buyer Common Stock, (B) if the AECsoft Revenues
for the Second Earnout Period are equal to or exceed the Second Earnout Target, then on or before
March 31, 2013, Buyer shall issue to the Shareholders 121,951 shares of Buyer Common Stock, and (C)
if the AECsoft Revenues for the Third Earnout Period are equal to or exceed the Third Earnout
Target, then on or before March 31, 2014, Buyer shall issue to the Shareholders 81,301 shares of
Buyer Common Stock. The First Earnout Period, Second Earnout Period and Third Earnout Period are
sometimes referred to herein individually as an “Earnout Period” and collectively as the
“Earnout Periods”. The shares of Buyer Common Stock issuable pursuant to this Section
1.02(a)(iv) are referred to collectively as the “Earnout Payment”.

(v) The foregoing notwithstanding, all rights of Ren and Xiong to receive Earnout Payments
shall terminate immediately upon the termination of either Ren’s or Xiong’s full-time employment
with Buyer or any of its Affiliates (including the Company) (an “Employer”) by reason of either an
Employee Resignation during any Earnout Period or a For Cause Termination during the First Earnout
Period. In the event of a termination of either Ren’s or Xiong’s full-time employment with an
Employer by reason of a For Cause Termination during the Second Earnout Period or Third Earnout
Period, the rights of Ren and Xiong to receive Earnout Payments for the Earnout Period in which the
For Cause Termination occurs shall be reduced to an amount equal to (A) the Earnout Payment
otherwise payable with respect to such Earnout Period multiplied by (B) a fraction where the
numerator is the number of days occurring in such Earnout Period prior to the date of such For
Cause Termination and the denominator is 365. If either Ren’s or Xiong’s full-time employment with
an Employer by reason of a For Cause Termination during the Second Earnout Period, then all rights
of Ren and Xiong to receive Earnout Payments with respect to the Third Earnout Period shall
terminate immediately.

 

2

 

(vi) The foregoing notwithstanding, all rights of Gutierrez to receive Earnout Payments shall
terminate immediately upon the termination of Gutierrez’s full-time employment with an Employer by
reason of either an Employee Resignation during any Earnout
Period or a For Cause Termination during the First Earnout Period. In the event of a
termination of Gutierrez’s full-time employment with an Employer by reason of a For Cause
Termination during the Second Earnout Period or Third Earnout Period, the rights of Gutierrez to
receive Earnout Payments for the Earnout Period in which the For Cause Termination occurs shall be
reduced to an amount equal to (A) the Earnout Payment otherwise payable with respect to such
Earnout Period multiplied by (B) a fraction where the numerator is the number of days occurring in
such Earnout Period prior to the date of such For Cause Termination and the denominator is 365. If
Gutierrez’s full-time employment with an Employer by reason of a For Cause Termination during the
Second Earnout Period, then all rights of Gutierrez to receive Earnout Payments with respect to the
Third Earnout Period shall terminate immediately.

(vii) In the event that Buyer or any of its Affiliates sells or transfers all or substantially
all of the ownership interests or assets of the Company (other than (A) a sale or transfer, whether
by operation of law or otherwise, to Buyer or an Affiliate of Buyer or (B) in connection with the
merger, consolidation or reorganization of Buyer or other similar transaction or the sale by Buyer
of all or substantially all of its capital stock or assets), then Buyer shall pay all Earnout
Payments to the Shareholders in accordance with this Section 1.02(a)(iv) with respect to any
Earnout Period(s) ending after the date of such sale as if the applicable Earnout Target(s) had
been met.

(b) Subject to the terms and conditions of this Agreement, in consideration of the sale and
assignment of the AEC Global Shares by Ren to Buyer, at the AECsoft USA Closing Buyer shall pay to
Ren in cash by wire transfer to account(s) designated by the Ren an aggregate amount equal to the
Net Asset Value of AEC Global as of the AEC Global Closing Date (the “AEC Global Purchase
Price”, and together with the AECsoft USA Purchase Price, the “Purchase Price”). The
AEC Global Purchase Price shall be paid within five (5) Business Days following the date on which
the AEC Global Closing Balance Sheet is finalized in accordance with Section 1.05.

(c) (i) Within sixty (60) days following the end of each Earnout Period, Buyer shall deliver
to the Shareholders Agent a written report (an “Earnout Report”) that sets forth in
reasonable detail the amount of AECsoft Revenues that Buyer recognized during the applicable
Earnout Period in accordance with GAAP. Such Earnout Reports shall be true and accurate and
prepared based on the books of account of Buyer. Unless objected to by Shareholders Agent pursuant
to a written notice (an “Objection Notice”) within twenty-five (25) days following the
delivery of the applicable Earnout Report, such Earnout Report shall be deemed accepted by the
Shareholders. The Objection Notice shall specify in reasonable detail the items that are being
disputed and a reasonably detailed summary of the reasons for such dispute. Following delivery of
an Objection Notice, Buyer and the Shareholders Agent shall use commercially reasonable and good
faith efforts to resolve all disputes regarding the Earnout Report. At the election of either
Buyer or the Shareholders Agent, any dispute between the parties regarding an Earnout Report
specified in an Objection Notice that cannot be resolved by the parties within ten (10) days after
Buyer’s receipt of such Objection Notice shall be referred to a nationally recognized, independent
public accounting firm mutually agreed upon by Buyer and the Shareholders (the “Disputes
Auditor”) for resolution. The decision of the Disputes Auditor shall be final and binding with
respect to the determination of the AECsoft Revenues and shall be enforceable in a court of law.
The parties agree that they will require the Disputes Auditor to render its decision within thirty
(30) days after the Disputes Auditor accepts the appointment in writing. In making such decision,
the Disputes Auditor (i) shall consider only

 

3

 

those items or amounts in the Earnout Report as to which the Shareholders Agent objected
in the Objection Notice and that remain in dispute between Buyer and the Shareholders Agent, (ii)
shall render its decision based solely on written materials submitted by the parties, the terms of
this Agreement any other items specifically requested by the Disputes Auditor to be submitted by
the parties, but the Disputes Auditor shall not make an independent review, and (iii) shall not
assign a value to any item greater than the greatest value for such item claimed by the parties
hereto or less than the smallest value for such item claimed by the parties hereto. The Disputes
Auditor shall have exclusive jurisdiction over, and the Disputes Auditor shall be the sole recourse
and remedy of the parties against one another or any other Person with respect to, any disputes
arising out of or relating to the Earnout Reports. The fees and expenses of the Disputes Auditor
shall be borne fifty percent (50%) by Buyer and fifty percent (50%) by the Shareholders, unless the
Disputes Auditor decides, based upon its determination with respect to the reasonableness of the
respective positions of Buyer and the Shareholders Agent, that the fee should be borne in unequal
proportion.

(ii) In the event that Buyer sells together or discounts any of the AECsoft Products and
Services with other products or services such that the applicable AECsoft Products and Services are
not priced or discounted separately (referred to herein as “bundling”), then Buyer shall
(x) allocate a portion of the consideration received for such bundled product or service offering
to the AECsoft Products and Services so as to allocate a commercially reasonable value to the
AECsoft Products and Services for purposes of determining the amount of AECsoft Revenues and (y)
shall set forth such allocation in reasonable detail in the applicable Earnout Report, which shall
be subject to the dispute resolution procedures set forth in Section 1.02(c)(i) above.

(iii) The Shareholders acknowledge and agree that Buyer shall have the right to (A) establish
compensation, commission structure and other incentive programs provided by Buyer to those
salespersons responsible for sales of the AECsoft Products and Services as it may determine in its
sole discretion, (B) assign such number of salespersons to be responsible for sales of the AECsoft
Products and Services as it may determine in its sole discretion, (C) establish the pricing, terms
and provisions of sales of the AECsoft Products and Services as it may determine in its sole
discretion, and (D) establish the marketing strategies, plans and operations for the AECsoft
Products and Services as it may determine in its sole discretion. Buyer shall operate its business
relating to the AECsoft Products and Services in good faith and shall take no action the intent or
purpose of which is to improperly delay or avoid payment of, or reduce the amount of, the Earnout
Payment. Buyer shall use its commercially reasonably efforts to preserve and increase its business
relating to the AECsoft Products and Services and to preserve the goodwill of the customers and
others having business relations with Buyer with respect to such business. Buyer shall be entitled
to market and commercially exploit its business relating to the AECsoft Products and Services in
its reasonable discretion in accordance with its and its Board of Director’s fiduciary duties to
its stockholders, which may or may not result in the maximization of Earnout Payment for the
benefit of the Shareholders.

(iv) Buyer shall have the right to offset the amount of any Indemnifiable Damages owing to
Buyer by the Shareholders pursuant to Section 8.01 hereof (subject to the limitations therein)
against any Earnout Payment otherwise payable hereunder.

 

4

 

(e) Each Shareholder shall be entitled to receive the percentage of each component of the
Purchase Price as set forth on Schedule 1.02(e). All cash payments of the Purchase Price
shall be made by wire transfer to the account(s) designated on Schedule 1.02(e).

1.03 AECsoft USA Closing. The closing of the transfer and sale of the AECsoft USA Shares shall take place at the
offices of Morris, Manning & Martin, LLP in Atlanta, Georgia, or via electronic and overnight
delivery of the items referenced in this Section 1.03, no later than the first Business Day
following the first date on which all conditions to the AECsoft USA Closing contained in Article VI
have been satisfied or complied with or, if not all conditions have been satisfied or complied
with, all such conditions that have not been so satisfied or complied with have been waived by the
party entitled to the benefit of such condition. Throughout this Agreement, such event is referred
to as the “AECsoft USA Closing” and such date and time are referred to as the “AECsoft
USA Closing Date”. At the AECsoft USA Closing, the Parties agree to take the following steps
in the order listed below (provided, however, that upon their completion all such steps shall be
deemed to have occurred simultaneously):

(a) Buyer, the Shareholders and SunTrust Bank, N.A. (the “Escrow Agent”) shall each
execute and deliver an Escrow Agreement, substantially in the form of Exhibit B hereto (the
“Escrow Agreement”).

(b) The Shareholders shall deliver to Buyer the certificate referenced in Section 6.02(a)
hereof.

(c) The Shareholders shall deliver to Buyer a legal opinion, dated the Closing Date, of Nance
& Simpson, LLP, legal counsel for the Company, substantially in the form of Exhibit C
hereto.

(d) The Shareholders shall deliver to Buyer a certificate setting forth the actual and
estimated Transaction Expenses for which the Shareholders are responsible pursuant to Section 5.04
(the “Transaction Expenses Certificate”).

(e) The Shareholders shall deliver to Buyer written evidence reasonably satisfactory to Buyer
that the Required Consents with respect to the transfer of the AECsoft USA Shares have been
obtained.

(f) The Shareholders shall deliver to Buyer written notice from all directors and officers of
AECsoft USA of their respective resignations from all positions with AECsoft USA, which
resignations shall be effective upon the Closing.

(g) The Shareholders shall deliver to Buyer a Secretary’s Certificate of AECsoft USA in form
and substance reasonably acceptable to Buyer.

(h) Buyer and each of the Shareholders shall execute and deliver a Stock Assignment Agreement
substantially in the form of Exhibit D attached hereto (the “AECsoft USA Stock
Assignment Agreement”).

 

5

 

(i) Buyer and each of the Shareholders shall execute and deliver a Stock Restriction Agreement
substantially in the form of Exhibit E attached hereto (the “Stock Restriction
Agreement”).

(j) Ren, AECsoft USA and Buyer shall execute and deliver an Intellectual Property Agreement
substantially in the form of Exhibit F attached hereto (the “Intellectual Property
Agreement”).

(k) The Shareholders shall deliver to Buyer stock certificates representing all of the AECsoft
USA Shares, duly endorsed for transfer to Buyer.

(l) Buyer shall deliver to the Shareholders the certificate referenced in Section 6.03(a)
hereof.

(m) Buyer shall deposit with the Escrow Agent the Escrow Amount.

(n) Buyer shall deliver to the Shareholders such components of the AECsoft USA Purchase Price
to which they are entitled pursuant to Section 1.02.

All actions to be taken and all documents to be executed and delivered by the parties at the
AECsoft USA Closing will be deemed to have been taken and executed simultaneously, and no action
will be deemed taken nor document deemed executed or delivered until all such actions have been
taken and all such documents have been executed and delivered.

1.04 AEC Global Closing. The closing of the transfer and sale of the AEC Global Shares shall take place at the
offices of Morris, Manning & Martin, LLP in Atlanta, Georgia, or via electronic and overnight
delivery of the items referenced in this Section 1.04, no later than the first Business Day
following the first date on which all conditions to the AEC Global Closing contained in Article VI
have been satisfied or complied with or, if not all conditions have been satisfied or complied
with, all such conditions that have not been so satisfied or complied with have been waived by the
party entitled to the benefit of such condition. Throughout this Agreement, such event is referred
to as the “AEC Global Closing” and such date and time are referred to as the “Global
USA Closing Date”. The AECsoft USA Closing and the AEC Global Closing are sometimes referred
to herein individually as a “Closing” and collectively as the “Closings”. The
AECsoft USA Closing Date and the AEC Global Closing Date are sometimes referred to herein
individually as a “Closing Date” and collectively as the “Closing Dates”. At the
AECsoft USA Closing, the Parties agree to take the following steps in the order listed below
(provided, however, that upon their completion all such steps shall be deemed to have occurred
simultaneously):

(a) Ren shall deliver to Buyer the certificate referenced in Section 6.02(a) hereof.

(b) Ren shall deliver to Buyer written evidence reasonably satisfactory to Buyer that the
Required Consents with respect to the transfer of the AEC Global Shares have been obtained.

(c) To the extent requested by Buyer, Ren shall deliver to Buyer written notice from all
directors and officers of AEC Global of their respective resignations from all positions with AEC
Global, which resignations shall be effective upon the Closing.

 

6

 

(d) Ren shall execute and deliver to Buyer a Share Transfer Agreement substantially in the
form of Exhibit G attached hereto (the “AEC Global Share Transfer Agreement”).

(e) If applicable, Ren shall deliver to Buyer stock certificates representing all of the AEC
Global Shares, duly endorsed for transfer to Buyer.

(f) Buyer shall deliver to the Shareholders the certificate referenced in Section 6.03(a)
hereof.

All actions to be taken and all documents to be executed and delivered by the parties at the AEC
Global Closing will be deemed to have been taken and executed simultaneously, and no action will be
deemed taken nor document deemed executed or delivered until all such actions have been taken and
all such documents have been executed and delivered.

1.05 Closing Balance Sheets.

(a) Within sixty (60) days following the AECsoft USA Closing Date, Buyer shall prepare and
deliver to the Shareholders Agent a balance sheet, prepared in accordance with GAAP, of AECsoft USA
as of the AECsoft USA Closing Date (the “AECsoft USA Closing Balance Sheet”).

(b) Within sixty (60) days following the AEC Global Closing Date, Buyer shall prepare and
deliver to the Shareholders Agent a balance sheet, prepared in accordance with GAAP, of AEC Global
as of the AEC Global Closing Date (the “AEC Global Closing Balance Sheet”).

(c) Each of the AECsoft USA Closing Balance Sheet and the AEC Global Closing Balance Sheet, as
applicable, shall be binding and conclusive for all purposes hereunder unless the Shareholders’
Agent shall have notified Buyer in writing within fifteen (15) Business Days after receipt thereof
any objections thereto (a “Balance Sheet Objection Notice”). The Balance Sheet Objection
Notice shall specify in reasonable detail the items that are being disputed and a reasonably
detailed summary of the reasons for such dispute. Following delivery of a Balance Sheet Objection
Notice, Buyer and the Shareholders Agent shall use commercially reasonable and good faith efforts
to resolve all disputes set forth in the Balance Sheet Objection Notice. At the election of either
Buyer or the Shareholders Agent, any dispute between the parties specified in a Balance Sheet
Objection Notice that cannot be resolved by the parties within ten (10) days after Buyer’s receipt
of such Objection Notice shall be referred to a Disputes Auditor for resolution. The decision of
the Disputes Auditor shall be final and binding with respect to the AECsoft USA Closing Balance
Sheet and the AEC Global Closing Balance Sheet, as applicable, and shall be enforceable in a court
of law. The parties agree that they will require the Disputes Auditor to render its decision
within 30 days after the Disputes Auditor accepts appointment in writing. In making such decision,
the Disputes Auditor (i) shall consider only those items or amounts in the AECsoft USA Closing
Balance Sheet and the AEC Global Closing Balance Sheet, as applicable, as to which the Shareholders
Agent objected in the Balance Sheet Objection Notice and that remain in dispute between Buyer and
the Shareholders Agent, (ii) shall render its decision based solely on written materials submitted
by the parties, the terms of this Agreement any other items specifically requested by the Disputes
Auditor to be submitted by the parties, but the Disputes Auditor shall not make an independent
review, and
(iii) shall not assign a value to any item greater than the greatest value for such item
claimed by the parties hereto or less than the smallest value for such item claimed by the parties
hereto. The Disputes Auditor shall have exclusive jurisdiction over, and the Disputes Auditor
shall be the sole recourse and remedy of the parties against one another or any other Person with
respect to, any disputes arising out of or relating to the AECsoft USA Closing Balance Sheet and
the AEC Global Closing Balance Sheet, as applicable. The fees and expenses of the Disputes Auditor
shall be borne fifty percent (50%) by Buyer and fifty percent (50%) by the Shareholders, unless the
Disputes Auditor decides, based upon its determination with respect to the reasonableness of the
respective positions of Buyer and the Shareholders Agent, that the fee should be borne in unequal
proportion.

 

7

 

(d) In the event that the cash and cash equivalents of AECsoft USA, as reflected on the
AECsoft USA Closing Balance Sheet, exceed $1,500,000, then Buyer shall pay to the Shareholders in
cash the amount of such excess (a “Cash Overage”) within five (5) Business Days following
the date on which the AECsoft USA Closing Balance Sheet is finalized in accordance with this
Section 1.05. The payment of the Cash Overage shall be deemed to be part of the AECsoft USA
Purchase Price for purposes of this Agreement. In the event that the cash and cash equivalents of
AECsoft USA, as reflected on the AECsoft USA Closing Balance Sheet, are less than $1,500,000 (a
“Cash Shortfall”), then Buyer shall be entitled to indemnification for the amount of such
Cash Shortfall pursuant to Section 7.02.

ARTICLE
II. REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS

Except as disclosed by the Shareholders to Buyer in writing in the Schedules attached hereto
as Exhibit H (the “Disclosure Schedules”) (each of which disclosures, in order to
be effective, shall clearly indicate the Section and, if applicable, the Subsection of this Article
II to which it relates, and each of which disclosures shall also be deemed to be representations
and warranties made by the Shareholders to Buyer under this Article II), the Shareholders, jointly
and severally, hereby represent, warrant and agree to and with Buyer as follows:

2.01 Corporate Existence and Power. AECsoft USA is a corporation duly organized, validly existing and in good standing under
the laws of the State of Texas, with the full corporate power and authority to own and operate its
properties and to conduct the Business as and in the places where such properties are now owned or
operated or such Business is now being conducted. AECsoft USA is duly qualified, licensed and
admitted to do business as a foreign corporation and is in good standing in those jurisdictions set
forth on Schedule 2.01, which are the only jurisdictions in which the ownership, use or
leasing of its assets and properties, or the conduct or nature of the Business makes such
qualification, licensing or admission necessary, except where the failure to be so qualified,
licensed or admitted could not reasonably be expected to result in a Material Adverse Change. AEC
Global is a corporation duly organized, validly existing and in good standing under the laws of the
People’s Republic of China, with the full corporate power and authority to own and operate its
properties and to conduct the Business all as and in the places where such properties are now owned
or operated or such Business is now being conducted.

2.02 No Subsidiaries. Neither AECsoft USA nor AEC Global has any Subsidiaries nor has either entity ever had any
Subsidiaries. Neither AECsoft USA nor AEC Global has ever been a Subsidiary of another entity.
Neither AECsoft USA nor AEC Global is a successor, whether by merger, consolidation or otherwise,
to any other Person.

 

8

 

2.03 Organization Documents; Books and Records.

(a) The Shareholders have provided to Buyer prior to the execution of this Agreement true and
complete copies of the Articles of Incorporation and Bylaws of AECsoft USA, both as amended through
the date hereof. AECsoft USA is not in violation of any provisions of its Articles of
Incorporation or Bylaws, as so amended. The minute books, stock record books and other similar
records of AECsoft USA that have been provided to Buyer prior to the execution of this Agreement,
are true, complete and correct in all material respects and are maintained in all material respects
in accordance with applicable laws. Such minute books contain a true and complete (in all material
respects) record of all actions taken at all meetings and by all written consents in lieu of
meetings of the directors, shareholders and committees of AECsoft USA’s Board of Directors from the
date of its incorporation through the date hereof, except with respect to such actions that would
not constitute or reflect a Material Adverse Effect.

(b) The Shareholders have provided to Buyer prior to the execution of this Agreement true and
complete copies of the governing documents of AEC Global, as amended through the date hereof. AEC
Global is not in violation of any provisions of its governing documents, as so amended. The minute
books, stock record books and other similar records of AEC Global that have been provided to Buyer
prior to the execution of this Agreement, are true, complete and correct in all material respects
and are maintained in all material respects in accordance with applicable laws.

2.04
Authorization and Enforceability.
The execution, delivery and performance by each Shareholder of this Agreement and the
Ancillary Agreements to which each Shareholder is a party, the consummation by each Shareholder of
the transactions contemplated hereby and thereby, and the performance by each Shareholder of its
obligations hereunder and thereunder, are within each such Shareholder’s legal power and authority
and have been duly authorized by all necessary action on the part of such Shareholder. This
Agreement and the Ancillary Agreements to which each Shareholder is a party constitute legal, valid
and binding agreements of each such Shareholder, enforceable against such Shareholder in accordance
with their respective terms.

2.05
Non-Contravention.
Assuming receipt of the Required Consents, the execution, delivery and performance by the
Shareholders of this Agreement and the Ancillary Agreements to which the Shareholders are a party,
the consummation by the Shareholders of the transactions contemplated hereby and thereby, and the
performance by the Shareholders of its obligations hereunder and thereunder, do not and will not:

(i) contravene or conflict with or result in a violation or breach of the Articles of
Incorporation or Bylaws of AECsoft USA or the governing documents of AEC Global;

(ii) contravene or conflict with or constitute a material violation of any law, regulation,
judgment, injunction, order or decree binding upon the Company or any of its assets or properties
or applicable to the Business;

 

9

 

(iii) (A) conflict with or result in a material violation or breach of, (B) constitute a
material default (or an event that, with or without notice or lapse of time or both would
constitute a default) under, (C) result in automatic termination or give to any Person any right of
termination, cancellation, acceleration or modification in or with respect to, (D) result in
or give to any Person any additional rights or entitlement to increased, additional, accelerated or
guaranteed payments or performance under, or (E) result in the loss of a material benefit under,
any Material Contract, or

(iv) result in the creation or imposition of any Lien on any of the Company’s assets or
properties.

Without limiting the generality of clauses (i), (ii), (iii) and (iv), neither the Shareholders nor
the Company is a party to any agreement or understanding that limits in any material respect the
ability of any of the Shareholders to enter into this Agreement or the Ancillary Agreements and
perform their obligations hereunder or thereunder.

2.06 Contracts.

(a) Schedule 2.06(a) sets forth a true and complete list of each Material Contract
(true and complete copies of such Contracts, together with all amendments and supplements thereto
have been provided to Buyer in electronic form concurrently with the execution of this Agreement).
For purposes of this Agreement, the term “Material Contract” shall mean each contract,
agreement, arrangement, understanding or commitment, whether oral or written, to which the Company
is a party or by which it or any of its assets or properties are bound that has been in effect for
all or any portion of the calendar year 2010 and that that is material to the Company, including
any such contract, agreement, arrangement, understanding or commitment that:

(i) is with any customer of the Business (the “Customer Contracts”);

(ii) involves the payment or receipt by the Company of, or otherwise provide or receive
goods or services having a value of, $10,000 or more (other than Material Contracts described in
clause (i) above);

(iii) represents a license, sublicense or other permission granted by the Company to any
third party with respect to the Company Software or the Intellectual Property attributable
thereto (other than Material Contracts described in clause (i) or (ii) above);

(iv) grants to any other party exclusive marketing or other exclusive rights of any type or
scope with respect to any of the Company Software or the Intellectual Property attributable
thereto or any other Intellectual Property of the Company;

(v) provides for a guaranty or indemnity by the Company (other than any indemnity expressly
provided for in a Material Contract described in clause (i) above);

(vi) involves the borrowing of money or any leasing transaction of the type required to be
capitalized in accordance with GAAP;

(vii) contains a right of first refusal;

(viii) imposes any restriction on the right or ability of the Company to engage in any line
of business or to compete with any other Person;

 

10

 

(ix) contains any most favored nations or similar provisions; or

(x) represents an agreement with an officer, director, employee, Affiliate or any other
Person with whom the Company does not deal at arm’s length.

(b) Except as set forth on Schedule 2.06(b), each Material Contract is in full force
and effect and constitutes a legal, valid and binding agreement of the Company, and the Company has
no Knowledge that any Material Contract is not a legal, valid and binding agreement of the other
parties thereto. There has not occurred any material default under, violation of, or breach of,
any Material Contract on the part of the Company, and the Company has no Knowledge that any
repudiation of, material default under, violation of, or breach of, any Material Contract on the
part of the other parties thereto has occurred. Immediately following the Closing, each Material
Contract shall remain a valid and binding agreement of the Company and, to the Company’s Knowledge,
each other party thereto, enforceable against the Company in accordance with their respective terms
and, to the Company’s Knowledge, enforceable in accordance with their respective terms against each
other party thereto.

2.07 Consents; Approvals; Permits.

(a) Schedule 2.07(a) sets forth a list of all Approvals that are required to be given
to or obtained by the Shareholders or the Company from any and all third parties (including any
Governmental or Regulatory Authority) as a result of the execution, delivery and performance by the
Shareholders of this Agreement and the Ancillary Agreements to which the Shareholders are a party,
the consummation by the Shareholders of the transactions contemplated hereby and thereby, and the
performance by the Shareholders of its obligations hereunder and thereunder. No other Approval is
required or necessary for the execution, delivery and performance by the Shareholders or the
Company of this Agreement or the Ancillary Agreements to which it is a party, the consummation by
the Shareholders of the transactions contemplated hereby and thereby, and the performance by the
Shareholders of its obligations hereunder and thereunder. Except as set forth in Schedule
2.07(a), none of the Material Contracts require any Approval to remain in full force and effect
following such transactions contemplated hereby.

(b) Schedule 2.07(b) contains a list of Approvals that require a new application for
license, permit, qualification or registration to be submitted to a Governmental or Regulatory
Authority by AECsoft USA due to the transactions contemplated by this Agreement. The Approvals set
forth on Schedule 2.07(a) and Schedule 2.07(b) are referred to collectively as the
“Required Consents”.

(c) Schedule 2.07(c) contains a list of all Approvals from any Governmental or
Regulatory Authority required to conduct the Business in the manner as it is currently being or
proposed to be conducted by the Company. The Company holds all such Approvals listed in
Schedule 2.07(c) and is in material compliance with the requirements of all such Approvals.

 

11

 

2.08 Capitalization.

(a) As of the date of this Agreement, the authorized capital stock of AECsoft USA consists of
1,000,000 shares of common stock, no par value per share (the “AECsoft USA
Common Stock”). The AECsoft USA Shares constitute all of the issued and outstanding
shares of AECsoft USA Common Stock.

(b) Schedule 2.08(b) sets forth the respective ownership of the AECsoft USA Shares by
the Shareholders. The Shareholders collectively have good and marketable title to the AECsoft USA
Shares, free and clear of all Liens of every kind, nature and description whatsoever.

(c) The AEC Global Shares represent 100% of the shares of AEC Global, and Ren is the sole
holder of the AEC Global Shares.

(d) The Shares are duly authorized, validly issued, fully paid and non-assessable and have
been issued in compliance with applicable federal, state and foreign securities laws. The Company
has not repurchased any shares of AECsoft USA Common Stock or AEC Global Capital Stock except in
compliance with all applicable federal, state, foreign, or local statutes, laws, rules, or
regulations, including federal, state and foreign securities laws and any agreements applicable
thereto.

(e) Except as set forth on Schedule 2.08(b), there are no options, warrants, debt
instruments, rights, commitments or agreements of any character, written or oral, to which the
Company or any of the Shareholders is a party or by which any of them are bound, obligating the
Company or any of the Shareholders to issue, deliver, sell or assign any shares of AECsoft USA
Common Stock or AEC Global Capital Stock (collectively, the “Convertible Securities”). No
debt securities of the Company are issued or outstanding.

(f) There are no preemptive rights or other similar rights or agreements, arrangements or
understandings to grant preemptive rights or other similar rights with respect to the issuance or
sale of AECsoft USA Common Stock or AEC Global Capital Stock created by statute, the Articles of
Incorporation or Bylaws of AECsoft USA, the governing documents of AEC Global, or any agreement or
other arrangement to which the Company is a party or by which it is bound. There are no
agreements, arrangements or understandings to which the Company is a party (written or oral)
pursuant to which the Company has the right to elect to satisfy any Liability by issuing AECsoft
USA Common Stock or AEC Global Capital Stock or Convertible Securities. Neither the Company nor the
Shareholders is a party to or subject to any agreement or understanding that affects, restricts or
relates to voting, giving written consents, dividend rights, transferability of shares or
repurchase rights or obligations with respect to AECsoft USA Common Stock or AEC Global Capital
Stock, including any voting trust agreement or proxy. Upon the AECsoft USA Closing, Buyer will be
the sole record and beneficial holder of all issued and outstanding shares of AECsoft USA Common
Stock and all rights to acquire or receive any shares of AECsoft USA Common Stock. Upon the AEC
Global Closing, Buyer will be the sole record and beneficial holder of all issued and outstanding
shares of AEC Global Capital Stock and all rights to acquire or receive any shares of AEC Global
Capital Stock.

 

12

 

2.09 Financial Statements.

(a) Attached as Schedule 2.09 hereto are (i) the unaudited balance sheet and
statements of income, shareholders’ equity and cash flows of the Company as of and for the two
years ended December 31, 2009 (collectively, the “Year-End Financial Statements”) and (ii)
the
unaudited balance sheet and statements of income, shareholders’ equity and cash flows of the
Company as of and for the nine-month period ended September 30, 2010 (collectively, the
“Interim Financial Statements” and together with the Year-End Financial Statements, the
“Financial Statements”).

(b) The Financial Statements (i) have been prepared from the books and records of the Company,
(ii) are true, correct and complete and present fairly the financial condition of the Company at
the balance sheet dates and its results of operations, shareholders’ equity and cash flows at the
dates and for the periods therein specified, and (ii) have been prepared in accordance with GAAP
applied on a consistent basis throughout the periods indicated, except that the Financial
Statements do not contain footnotes. The books of account and other financial records of the
Company that have been provided to Buyer and from which the Financial Statements have been prepared
(i) have been kept accurately in all material respects in the ordinary course of business
consistent with applicable laws, (ii) the transactions entered therein represent bona fide
transactions, and the revenues, expenses, assets and liabilities of the Company have been properly
recorded therein in all material respects, and (iii) did not contain any untrue statement of a
material fact or omit any material fact necessary to make the information contained therein in
light of circumstances in which they were made, not misleading. Since December 31, 2007, there has
been no change in any accounting policies, principles, methods or practices, including any change
with respect to reserves (whether for bad debts, contingent liabilities or otherwise), of the
Company that are not reflected in the Financial Statements.

(c) Since December 31, 2007, neither the Company nor any officer, director, shareholder,
employee, auditor, accountant, attorney or representative of the Company has received or otherwise
had or obtained Knowledge of any complaint, allegation, assertion or claim, whether made in writing
or made orally to any member, executive officer, or inside or outside legal counsel to the Company,
regarding any fraud or other improprieties with respect to the accounting practices of the Company.

2.10 No Liabilities. The Company has no outstanding claims, liabilities, obligations or indebtedness, whether
accrued, absolute or contingent, determined or undetermined, asserted or unasserted, and whether
due or to become due (individually, a “Liability” and, collectively,
“Liabilities”), except to the extent:

(a) reflected in the Financial Statements;

(b) arisen in the ordinary course of business since September 30, 2010; or

(c) specifically set forth in Schedule 2.10 hereof.

 

13

 

2.11 No Material Adverse Change. Since December 31, 2009, there has not been any change in the business, assets, condition
(financial or otherwise), operations or prospects of the Company, other than changes occurring in
the ordinary course of business which in the aggregate have not had and could not reasonably be
expected to have a Material Adverse Effect. There is not, to the Knowledge of the Company, any
threatened or prospective event or condition of any character whatsoever that could reasonably be
expected to have a Material Adverse Effect. Without limiting
the generality of the foregoing, the Company has not taken any of the following actions since
December 31, 2009, except as set forth in Schedule 2.11:

(a) entered into any Material Contract or transaction outside the ordinary course of business;

(b) amended the Articles of Incorporation or Bylaws of AECsoft USA or the governing documents
of AEC Global;

(c) declared, set aside or paid any dividends on or made any other distributions (whether in
cash, stock or property) in respect of the AECsoft USA Common Stock, the AEC Global Capital Stock
or any Convertible Securities, or effected or approved any split, combination or reclassification
of the AECsoft USA Common Stock, the AEC Global Capital Stock or any Convertible Securities, or
repurchased, redeemed or otherwise acquired, directly or indirectly, any shares of the AECsoft USA
Common Stock, the AEC Global Capital Stock or any Convertible Securities;

(d) issued (or made any commitments to issue) additional securities, except as may be required
pursuant to the exercise of any Convertible Securities;

(e) entered into any employment agreement;

(f) terminated or modified any existing benefit arrangement or employee benefit plan, paid any
bonuses or other similar compensation to any employees (other than annual bonuses in the ordinary
course of business that are reflected in Schedule 2.17(a)) or otherwise increased the
annual level of compensation of any existing employee;

(g) encumbered, sold, licensed or otherwise transferred any assets, properties or rights of
the Company to any Person, other than the non-exclusive license of the Company Software to
customers in the ordinary course of business;

(h) transferred any rights to any Intellectual Property to any Person, other than the
non-exclusive license of the Company Software to customers in the ordinary course of business;

(i) engaged in any efforts outside the ordinary course of business to accelerate the
collection of any Receivables;

(j) canceled or waived any Liability owing to the Company (other than as reflected in the
Financial Statements);

(k) incurred any Liability in excess of $10,000 (other than as reflected in the Financial
Statements);

(l) made any payment in excess of $10,000 (other than as reflected in the Financial
Statements);

(m) purchased or otherwise acquired any property, rights or assets having a value in excess of
$10,000 (other than as reflected in the Financial Statements);

 

14

 

(n) failed to pay or otherwise satisfy any Liability in excess of $10,000 of the Company which
is presently due and payable except Liabilities that are being contested in good faith by
appropriate means or proceedings;

(o) terminated or waived any material rights, benefits or claims of the Company;

(p) entered into any contract, agreement or other arrangement that imposes any restriction on
the right or ability of the Company to engage in any line of business or to compete with any other
Person or contains any most favored nations or similar provisions;

(q) entered into any barter transactions for AECsoft Products and Services;

(r) engaged in any transaction outside the ordinary course of business;

(s) (i) made or changed any election in respect of Taxes, (ii) adopted or changed any
accounting method in respect of Taxes, (iii) entered into any tax allocation agreement, tax sharing
agreement, tax indemnity agreement, closing agreement, or settlement or compromise of any claim or
assessment in respect of Taxes, or (iv) consented to any extension or waiver of the limitation
period applicable to any claim or assessment in respect of Taxes with any Taxing Authority or
otherwise; or

(t) agreed to do any of the foregoing.

2.12 Assets and Properties.

(a) The Company owns no real estate. Schedule 2.12(a) sets forth all real estate
leases and occupancy agreements to which the Company is a party. There are no facts known to the
Company that would materially and adversely affect the possession, use or occupancy of the real
estate leased or occupied by the Company (the “Real Estate”). To the Knowledge of the
Company, all utilities serving the Real Estate are installed and operating and are sufficient to
enable the Real Estate to continue to be used and operated consistent with past practices, and any
so-called hook-up fees or other associated charges accrued to date have been fully paid. All Real
Estate is leased free and clear of all Liens, except for Permitted Liens and customary landlord’s
liens. To the Knowledge of the Company, no such property is subject to any order to be sold or
condemned, expropriated or otherwise taken by any public authority with or without payment of
compensation therefore, nor to the Knowledge of the Company is any such proceeding threatened.

(b) All tangible personal property is in good working order and condition in all material
respects, ordinary wear and tear expected, and its use complies in all material respects with all
applicable laws and is adequate and suitable in all material respects for the conduct of the
Business as presently conducted.

2.13 Title to Property; Encumbrances. The Company has good and marketable title to, or enforceable leasehold interests in, or
valid rights under contract to use, all the properties and assets owned or used by the Company
(real and personal, tangible and intangible), free and clear of all Liens of every kind, nature and
description whatsoever other than (i) Liens disclosed on Schedule 2.13 and (ii) Liens for
Taxes not yet due and payable (the Liens described in clauses (i) and (ii) of this Section 2.13 are
referred to collectively as the “Permitted Liens”).

 

15

 

2.14 Litigation. Except as set forth on Schedule 2.14 hereof:

(a) there is no action, suit, investigation or proceeding pending against, or, to the
Knowledge of the Company, threatened against the Company or its assets and properties before any
court or arbitrator or any Governmental or Regulatory Authority;

(b) there is no action, suit, investigation or proceeding pending against, or, to the
Knowledge of the Company, threatened that in any manner challenges or seeks to prevent, enjoin,
alter or materially delay the transactions contemplated hereby; and

(c) there are no writs, judgments, decrees, injunctions or similar orders (in each case
whether preliminary or final) of any Governmental or Regulatory Authority outstanding against, or
applicable to, the Company.

2.15 Compliance with Laws.

(a) The Company is not in violation of and, to the Knowledge of the Company, is neither under
investigation with respect to, nor has been threatened to be charged with or been given notice of
any violation of, any law, rule, ordinance or regulation, or judgment, order or decree entered by
any Governmental or Regulatory Authority, domestic or foreign applicable to the Company or the
conduct of the Business.

(b) The Company is not a party to, or bound by, any order or corporate integrity agreement or
other formal or informal agreement with any Governmental or Regulatory Authority.

(c) The Company has not, directly or indirectly, used any corporate funds for unlawful
contributions, gifts, entertainment or other unlawful expenses relating to political activity, made
any unlawful payment to foreign or domestic government officials or employees or to foreign or
domestic political parties or campaigns from corporate funds, violated any provision of the Foreign
Corrupt Practices Act of 1977, as amended, or made any bribe, rebate, payoff, influence payment,
kickback or other similar unlawful payment to any officer or employee of any Governmental or
Regulatory Authority, a member of a foreign political party or a candidate for political office in
a foreign country, for the purpose of influencing any act or decision of any such Person acting in
his or her official capacity or inducing the Person to do or omit to do any action in violation of
his or her lawful duty, inducing such Person to use his or her influence with any government to
affect or influence any act or decision of such government or instrumentality, in order to assist
the Company to obtain or retain business for or with, or in directing business to, any Person.

(d) The Company has conducted its export transactions in accordance in all material respects
with applicable provisions of United States export control laws and regulations, including but not
limited to the Export Administration Act and implementing Export Administration Regulations.
Without limiting the foregoing, (i) the Company has obtained all export licenses and other
approvals required for its exports of products, software and technologies from the United States
and (ii) the Company is in compliance with the terms of all applicable export licenses or other
approvals.

 

16

 

2.16 Intellectual Proprietary Rights.

(a) Schedule 2.16(a) contains a true, correct and complete list of each issued or
pending Registration of the Company.

(b)

(i) Schedule 2.16(b)(i) is an accurate and complete list and description (including
a name, product description, version level, the language in which it is written and the hardware
requirements) of all Company Proprietary Software.

(ii) Schedule 2.16(b)(ii) is an accurate and complete list and description
(including a name, product description, version level, the language in which it is written and
the hardware requirements) of all Third Party Software that constitutes a component of the
Company Software.

(c)

(i) The Company has good and marketable title to all of the Company Proprietary Software and
holds all rights in and to the Intellectual Property attributable thereto except as set forth on
Schedule 2.16(c)(v), and has all rights in and to the Third Party Software, the
Intellectual Property attributable thereto and all other Intellectual Property as may be
necessary to operate the Business consistent with past practices and as contemplated by existing
product and service enhancement or modification plans of the Company or to otherwise conduct the
Business, free and clear of all Liens (other than Permitted Liens).

(ii) None of the Company Proprietary Software, the Intellectual Property attributable
thereto, or their respective past or current uses by or through the Company has violated or
infringed upon, or is violating or infringing upon or misappropriating, any Software, moral right
or other Intellectual Property owned by any Person, whether such rights are registered or
unregistered, and no such claims have been asserted by any Person.

(iii) To the Knowledge of the Company, no Person is violating or infringing upon, or has
violated or infringed upon or misappropriated at any time, any of the Company’s proprietary
rights to the Company Proprietary Software or the Intellectual Property attributable thereto or
any other Intellectual Property of the Company.

(iv) The Company Proprietary Software and the Intellectual Property attributable thereto do
not contain any derivative works or any programming or other materials not owned in their
entirety by the Company.

(v) Each of Ren, Xiong and Gutierrez has transferred, or shall transfer on or before the
AECsoft USA Closing, to the Company all of his or her right, title and interest in and to the
Registrations and other Intellectual Property listed on Schedule 2.16(c)(v) and all other
Intellectual Property with respect to which such Shareholder may have ownership or other rights
that (A) relates to, or could otherwise be used in, the Business or (B) was conceived, created or
developed in whole or in part by a Shareholder either (i) within the scope of such Shareholder’s
employment or other relationship with the Company, (ii) based on, resulting from, or suggested by
any work performed within the scope of such Shareholder’s employment or other relationship with
the Company, or (iii) using the Company’s time, resources, data, facilities, or equipment;
provided, however, that Ren’s assignment of such Intellectual Property shall be subject to
the terms and conditions set forth in the Intellectual Property Agreement.

 

17

 

(vi) Other than non-exclusive licenses granted to customers in the ordinary course of
business and the Intellectual Property Agreement, no Person has any interest in or right to the
Company Proprietary Software or the Intellectual Property attributable thereto or any other
Intellectual Property of the Company, including the right to royalty payments. The Company has
granted no third party any exclusive rights related to any Company Software or any Intellectual
Property attributable thereto or any other Intellectual Property of the Company.

(vii) The Company has adequately retained and maintained all trade secrets and copyrights
with respect to the Business, the Company Proprietary Software and the Intellectual Property
attributable thereto, provided that the Company has not registered any copyrights on the Company
Proprietary Software.

(d) The Company maintains (A) machine-readable, master-reproducible copies of the Company
Proprietary Software and the Third Party Software that constitutes a component of the Company
Software and (B) reasonably complete technical documentation and/or user manuals for all releases
or versions thereof currently in use by the Company or its customers. Such machine-readable copy
conforms to the corresponding source code listing in all material respects.

(e) Except as set forth on Schedule 2.16(e), the Company Proprietary Software (i) does
not contain any Publicly Available Software, (ii) does not contain any Harmful Code, and (iii) and
is not subject to any source code escrow agreement or other similar obligation to provide source
code to any third party.

(f) The Company Software complies in all material respects with all representations,
warranties and other requirements as to the Company Software specified in all Customer Contracts
and all applicable specifications published by the Company.

(g) The Third Party Software is readily available for license at commercially reasonable rates
and on commercially reasonable terms.

(h) Schedule 2.16(h) identifies all Persons who have contributed to the development of
the Company Proprietary Software and the Intellectual Property attributable thereto. All
personnel, including employees, agents, consultants and contractors, who have contributed to or
participated in the conception and development of the Company Proprietary Software and the
Intellectual Property attributable thereto on behalf of the Company:

(i) have executed and are legally bound by a nondisclosure agreement regarding the
Confidential Information; and

(ii) either (A) have been party to a “work-for-hire” arrangement or agreement with the
Company, in accordance with applicable federal and state law, that has accorded the Company full,
effective, exclusive, and original ownership of all tangible and intangible property thereby
arising or (B) have executed appropriate instruments of assignment in favor of one or more the
Company as assignee that have conveyed to the Company full, effective, and exclusive ownership of
all tangible and intangible property thereby arising.

 

18

 

(i) The Company has no obligation whatsoever to assign any of its Intellectual Property to any
Governmental or Regulatory Authority.

2.17 Employees.

(a) Schedule 2.17(a) sets forth a true and complete list of the names, titles,
location, annualized salary rate, severance rights, and other compensation (including bonuses) of
all employees of the Company. Except as set forth on Schedule 2.17(a), the employment of
each employee of the Company is terminable by the Company at will. All individuals who are
performing, or who have performed, services for the Company have been properly classified as either
independent contractors or common law employees of the Company. All employees of the Company are,
and have been, properly classified as exempt or non-exempt under the Fair Labor Standards Act.

(b) The Company does not have actual knowledge that any of its employees, or that any group of
its employees, intends to terminate their employment with the Company, nor does the Company have a
present intention to terminate the employment of any of the foregoing.

(c) The Company has complied with all applicable state and federal equal employment
opportunity, wages, hours, layoffs, health, safety and all other laws related to employment. The
Company has paid in full to all employees or has adequately accrued for in accordance with GAAP all
wages, salaries, commissions, bonuses, benefits and other compensation due to or on behalf of such
employees. No claim has been threatened or asserted against the Company relating to the Business
or is now pending before any Governmental or Regulatory Authority, nor is there any pending
litigation with respect to (i) payment of wages, salary or overtime pay; (ii) employment
discrimination, including, without limitation, age, gender, race, religion or other legally
protected category; (iii) wrongful termination of employment; (iv) violation of any occupational
safety or health standards; or (v) any other employment-related law. There is no (i) unfair labor
practice, labor dispute (other than routine individual grievances) or labor arbitration proceeding
pending or, to the Knowledge of the Company, threatened against the Company relating to the
Business, (ii) activity or proceeding by a labor union or representative thereof to organize any
employees of the Company, or (iii) lockouts, strikes, slowdowns, work stoppages or threats thereof
by or with respect to such employees.

2.18 Insurance.

(a) Schedule 2.18(a) contains a true and complete list (including the names and
addresses of the insurers, the expiration dates thereof, the annual premiums and payment terms
thereof, losses (by type of coverage) for the past three years, the period of time covered thereby
and a brief description of the interests insured thereby) of all liability, property, workers’
compensation, directors’ and officers’ liability, electronic errors and omissions and other
insurance policies currently in effect that insure the Business, operations or employees of the
Company. Schedule 2.18(a) also sets forth all outstanding insurance claims by the Company
for damage to or loss of property or income which have been referred to insurers or which the
Company believes to be covered by commercial insurance. The Shareholders have heretofore delivered
to Buyer complete and correct copies of the policies and agreements set forth on Schedule
2.18(a).

 

19

 

(b) The Company has policies of insurance of the type and in amounts customarily carried by
persons conducting businesses or owning assets similar to those of the Company. There is no claim
pending under any of such policies as to which the carrier has issued a denial of coverage or a
reservation of rights in the respect to such claim or informed the Company of its intent to do so.
All premiums due and payable under all such policies have been paid and the Company is otherwise in
material compliance with the terms of such policies. The insurance coverage provided by the
policies described in Schedule 2.18(a) will not terminate or lapse by reason of any of the
transactions contemplated by this Agreement. Such policies are sufficient for compliance with all
requirements of applicable Laws and all agreements relating to the Company.

2.19 Environmental Matters.

(a) The Company is in material compliance with all limitations, restrictions, conditions,
standards, prohibitions, requirements, obligations, schedules and timetables contained in any
applicable environmental laws, or in any plan, order, decree, judgment, notice or demand letter
issued, entered, promulgated or approved thereunder. The Company has no Knowledge of any past or
present events, conditions, circumstances, activities, practices, incidents, actions or plans which
could reasonably be expected to interfere with or prevent continued compliance, or which could
reasonably be expected to give rise to any common law or legal liability, or otherwise form the
basis for any claim, action, suit, proceedings, hearing or investigation, based on or related to
the manufacture, processing, distribution, use, treatment, storage, disposal, transport, or
handling, or the emission, discharge, release or threatened release into the environment, of any
pollutant, contaminant, or hazardous or toxic material or waste or hazardous material.

(b) The Company has not received any notification from any Governmental or Regulatory
Authority or other third parties related to hazardous material on or affecting any property owned
or leased by the Company or relating to any potential or known liability under applicable
environmental laws arising from the ownership or leasing of any property.

2.20 Employee Benefit Plans.

(a) Schedule 2.20 identifies each Plan (i) sponsored or maintained by the Company or
any of its ERISA Affiliates, (ii) to which the Company or any of its ERISA Affiliates contributes
or has an obligation to contribute or make payments, or (iii) which could result in any liability
for the Company or any of its ERISA Affiliates.

 

20

 

(b) Except as set forth in Schedule 2.20 with respect to each Plan required to be
listed in Schedule 2.20: (i) each Plan has been administered in compliance with its terms
and is in compliance with the applicable provisions of ERISA (including the prohibited transaction
provisions thereof), the Internal Revenue Code and other applicable laws; (ii) there are no
inquiries or proceedings pending or, to the Knowledge of the Company, threatened by the IRS, the
U.S. Department of Labor, the PBGC, or any participant or beneficiary with respect to the Plans;
(iii) each Pension Plan which is intended to be a qualified plan within the meaning of Section
401(a) of the Internal Revenue Code has received a favorable determination from the IRS as to its
qualified status or is within the remedial amendment period (as defined in Section 401(b) of the
Internal Revenue Code taking into account any pronouncements of the IRS relating to such period)
for making any required changes; (iv) each Plan may, without liability, be amended, terminated or
otherwise discontinued, (v) no Plan provides medical benefits to any Person who is not a
current employee of the Company (other than dependents of current employees) and neither the
Company nor any of its ERISA Affiliates is contractually or otherwise obligated to provide any
Person who is not a current employee of the Company (other than dependents of current employees)
with medical benefits, other than continuation coverage as required under Section 4980B of the
Internal Revenue Code and Part 6 of Subtitle B of Title I of ERISA (“COBRA”) or other
applicable law; (vi) the Company has made or provided for all contributions required under the
terms of such Plans and any applicable Laws for all periods through the Closing Date; (vii) there
have been no “prohibited transactions” (as described in Section 4975 of the Internal Revenue Code
or in Part 4 of Subtitle B of Title I of ERISA) involving any Plan; (viii) there has been no
violation of the “continuation coverage requirements” of COBRA with respect to any Plan to which
such continuation coverage requirements apply; and (ix) there has been no violation of the
obligations imposed by Section 9801 of the Internal Revenue Code and Part 7 of Subtitle B of Title
I of ERISA (“HIPAA”) with respect to any Plan which is a group health plan (as defined in
Section 5000(b)(1) of the Internal Revenue Code or Part 6 of Subtitle B of Title I of ERISA).

(c) Neither the Company nor any of its ERISA Affiliates maintains or has ever maintained any
Plan or arrangement which is subject to the minimum funding requirements of Part 3 of Subtitle B of
Title I of ERISA or subject to Section 412 of the Internal Revenue Code.

(d) Neither the Company nor any of its ERISA Affiliates, has ever maintained or been obligated
to contribute to any multiemployer plan, as defined in Section 3(37) or 4001(a)(3) of ERISA.

(e) Neither the Company nor any of its ERISA Affiliates is, or ever has been, bound by any
collective bargaining agreement or legally binding arrangement to maintain or contribute to any
Plan.

(f) Each Plan required to be listed in Schedule 2.20 that is a “nonqualified deferred
compensation plan” (as defined in Section 409A(d)(1) of the Internal Revenue Code) and was in
existence prior to October 3, 2004, has not been “materially modified” (within the meaning of
Section 885(d)(2)(B) of the American Jobs Creation Act of 2004 and any applicable guidance issued
thereunder) since October 3, 2004, in a manner which would cause amounts deferred in taxable years
beginning before January 1, 2005, under such Plan to be subject to Section 409A of the Internal
Revenue Code. With respect to each Plan required to be listed on Schedule 2.20 that is a
nonqualified deferred compensation plan within the meaning of Section 409A of the Internal Revenue
Code, no event has occurred and no condition exists, that could subject any Person to any tax,
fine, penalty or other liability under Section 409A of the Internal Revenue Code (“409A
Liability”).

 

21

 

(g) Complete and correct copies of the following documents have been delivered by the Company
to Buyer: (i) all current plan documents and insurance contracts (if any), and amendments thereto,
with respect to each of the Plans, (ii) for each of the most recently ended five (5) plan years,
all IRS Form 5500 series forms (and any financial statements and other schedules attached thereto)
filed with respect to any Plan, (iii) the most recent IRS determination letter for each Plan (if
any), (iv) all current summary plan descriptions and subsequent summaries of material modifications
with respect to each of the Plans subject to ERISA, (v) all material rulings, opinion
letters, information letters, advisory opinions or other correspondence to or from or issued
by the IRS, the United States Department of Labor or the Pension Benefit Guaranty Corporation with
respect to any Plan, (vi) all policies pertaining to fiduciary liability insurance covering the
fiduciaries of a Plan, and all bonds pertaining to any Plan, and (vii) all nondiscrimination tests
required under the Internal Revenue Code for any Plan for the prior five (5) years.

(h) Except as set forth in Schedule 2.20, the consummation of the transactions
contemplated by this Agreement will not, alone or together with any other event, (i) entitle any
Person to bonus pay, golden parachute payment, severance pay, unemployment compensation or any
other payment, (ii) accelerate the time of payment or vesting, or increase the amount of
compensation or benefits due to any such Person (except as required by Section 411 of the Internal
Revenue Code), or (iii) result in any forgiveness at indebtedness. As of the Closing Date, no
payment made, or required to be made, to any officer, director, employee, or agent of the Company
(collectively, “Recipients”) pursuant to any employment contract, severance agreement, or
other arrangement as a consequence of the transaction described herein will be non-deductible to
the Company because of the applicability of the “golden parachute” provisions of Sections 280G and
4999 of the Internal Revenue Code, nor will the Company be required to “gross up” or otherwise
compensate any Recipient because of the imposition of any excise tax (including any interest or
penalties related thereto) on the Recipient as a result of the applicability of Sections 280G and
4999 of the Internal Revenue Code.

(i) The participant and beneficiary records with respect to each Plan are in the custody of
the Company (or an agent of the Company who must, upon demand, provide such records to the Company
within a reasonable period of time), and such records are accurate in all material respects.

(j) Neither the Company or any of its ERISA Affiliates, has ever maintained or been obligated
to contribute to any “multiple employer plan,” as defined in Section 413(c) of the Internal Revenue
Code, or has ever maintained or been obligated to contribute to any “multiple employer welfare
arrangement” as defined in Section 3(40)(A) of ERISA.

(k) Neither the Company nor any of its ERISA Affiliates is subject to any penalty or tax with
respect to any Plan under Sections 4975 through 4980G of the Internal Revenue Code.

(l) Neither the Company nor any of its ERISA Affiliates sponsors or maintains a “group health
plan” (as defined in Section 9832 of the Internal Revenue Code or Section 733(a) of ERISA) which
has a plan year that has begun on or after September 23, 2010. Neither the Company nor any of its
ERISA Affiliates sponsors or maintains a “group health plan” that cannot meet the requirements to
be a “grandfathered health plan” (as defined in Treas. Reg. §54.9815-1251T or 29 CFR
§2590.715-1251).

 

22

 

2.21 Taxes.

(a) The Company is not, and has never been, a member of any consolidated, combined, affiliated
or unitary group for tax purposes (collectively, “Consolidated Group”). The Company has
never merged with or into any other entity, or otherwise participated in a “reorganization” within
the meaning of Section 368 of the Internal Revenue Code, and has never
acquired the assets or stock of any other entity in a transaction causing the Company to be a
successor to any other entity. The Company has timely filed all Tax Returns required to be filed
by the Company in the manner provided by law. All such Tax Returns are true, correct and complete
in all material respects. Any carryover tax attributes reflected on such returns, including net
operating loss carry forwards or carry forwards of tax credits, are calculated accurately and,
after consummation of the transactions contemplated hereby, will be available to the extent and as
reflected on such tax returns. The Company has timely paid all Taxes due or required to be
withheld from amounts owing to any employee, creditor, shareholder or third party and has provided
adequate reserves in its financial statements for any Taxes that have not been paid, whether or not
shown as being due on any Tax Returns. The Company has delivered to Buyer true, correct and
complete copies of all Tax Returns filed with respect to the Company for all taxable periods for
the last three (3) taxable years.

(b) There are no liens for Taxes on any of the assets of the Company, except for liens for
current Taxes not yet due. No Taxing Authority has asserted or threatened to assert, nor is the
Company aware of any basis for the assertion by any Taxing Authority of any claim for unpaid Taxes.
No claim has ever been made by a Taxing Authority in a jurisdiction where the Company does not
file Tax Returns that the Company is or may be subject to Tax in that jurisdiction.

(c) No audit, examination, investigation, deficiency or refund litigation or other proceeding
in respect of Taxes of the Company has been proposed, assessed or asserted by a Tax Authority that
has resulted in any increased liability for additional Taxes. The Company has not requested or
received any written ruling from a Taxing Authority relating to Taxes or entered into any agreement
with a Tax Authority relating to Taxes.

(d) The Company is not a party to, is not bound by, or has no obligation under, or potential
liability with regards to, any Tax sharing agreement, tax allocation, tax indemnity or similar
agreement or arrangement, or has any potential liability or obligation for any Taxes of any Person
other than itself whether as a transferee or successor or otherwise.

(e) No extension or waiver of the statute of limitations on the assessment of any Taxes has
been granted by the Company and is currently in effect. The Company is not a party to any
agreement extending the time within which to file any Tax Return.

(f) The Company is not a party to any agreement, plan, contract or arrangement that would
result, separately or in the aggregate, in the payment of any “excess parachute payments” within
the meaning of Section 280G of the Internal Revenue Code or cause any excise tax to the recipient
of any such payment under Section 4999 of the Internal Revenue Code.

(g) The Company has no deferred intercompany gain or loss arising as a result of a deferred
intercompany transaction within the meaning of Treasury Regulation Section 1.1502-13 (or similar
provision under state, local or foreign law) or any excess loss accounts within the meaning of
Treasury Regulation Section 1.1502-19.

(h) The Company is not and has never been a United States real property holding corporation
(as defined in Section 897(c)(2) of the Internal Revenue Code) during the applicable period
specified in Section 897(c)(1)(A)(ii) of the Internal Revenue Code.

 

23

 

(i) The Company has not agreed to include, nor is it required to include, in income for any
year beginning after the Closing Date (by virtue of operations prior to the Closing Dates), any
adjustment under either Section 481(a) or 482 of the Internal Revenue Code (or an analogous
provision of state, local or foreign law) by reason of a change in accounting method or otherwise.

(j) The Company has not distributed stock of another entity, nor has the Company had its stock
distributed by another entity, within the past three (3) years, in a transaction that was purported
or intended to be governed in whole or in part by Section 355 or Section 361 of the Internal
Revenue Code.

(k) The Company is not a party to any joint venture, partnership, contract or other
arrangement that is treated as a partnership for federal, state, local or foreign income tax
purposes.

(l) The Company is not liable for any built-in gain Tax under Section 1374 of the Internal
Revenue Code.

(m) The Company has filed a federal income Tax Return for the taxable year immediately
preceding the current taxable year.

2.22 Banks Accounts and Powers of Attorney. Schedule 2.22 sets forth a true and complete list showing:

(a) the name and location of each bank in which the Company has an account, credit line or
safety deposit box and the names of all Persons authorized to draw thereon or to have access
thereto, and

(b) the names of all Persons, if any holding powers of attorney from the Company and a summary
statement of the terms thereof.

2.23 Accounts Receivable. Schedule 2.23 sets forth an accurate list of the accounts and notes receivable of
the Company (the “Receivables”) as of a recent date. Schedule 2.23 also sets forth
an accurate aging of all Receivables as of the date of the Interim Financial Statements showing
amounts due in 30-day aging categories. The Receivables that are classified as current assets on
the Interim Financial Statements are bona fide receivables, were acquired in the ordinary course of
business and are stated in accordance with GAAP. Such Receivables are collectible in the amount
shown on Schedule 2.23, net of reserves for doubtful accounts reflected in the Interim
Financial Statements or as set forth on Schedule 2.23.

2.24 Customers
Schedule 2.24 contains a summary of the revenues from each of the customers of the
Company for the year ended December 31, 2009 and the nine months ended September 30, 2010. The
Shareholders have no Knowledge (i) that any such customers intend to cease or materially diminish
use of the products or services of the Business or (ii) of any fact or circumstance that could
reasonably be expected to cause such customers to cease or materially diminish use of the products
or services of the Business.

 

24

 

2.25 Finders’ Fees. There is no investment banker, broker, finder or other intermediary which has been retained
by or is authorized to act on behalf of the Company who might be entitled to
any fee or commission from Buyer or the Company upon consummation of the transactions
contemplated by this Agreement.

2.26 Related-Party Transactions. Except as set forth on Schedule 2.26, Company is not indebted to, or a party to
any contract with, any of its shareholders, directors or officers or their Affiliates. None of such
persons has any direct or indirect ownership interest in any firm or corporation with which the
Company has a business relationship, or any firm or corporation that competes with the Company.

2.27 Warranty and Related Matters.
Schedule 2.27 sets forth the Company’s standard form of product and service warranties
and guarantees on the AECsoft Products and Services, and the Company has not deviated from such
form except in cases that could not reasonably be expected to have a Material Adverse Effect.
There are no existing or, to the Company’s Knowledge, threatened, product liability, warranty or
other similar claims against the Company alleging that any such products or Services are defective
or fails to meet any product or service warranties. There are no liabilities for warranty or other
claims or returns with respect to any of the AECsoft Products and Services relating to any such
defects or problems.

2.28 Investment. Each of the Shareholders is acquiring the Share Consideration for
his or her own account, not as a nominee or agent, and not with a view to, or for sale in
connection with, any distribution thereof. The Shareholders understand that the Share
Consideration has not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state securities laws, by reason of specific exemptions from the
registration provisions of the Securities Act and such laws that may depend upon, among other
things, the bona fide nature of the Shareholders’ investment intent as expressed herein. Each of
the Shareholders is an “accredited investor” within the meaning of Regulation D promulgated by the
Securities and Exchange Commission under the Securities Act. Each of the Shareholders consents,
agrees and acknowledges that the certificate or certificates representing the Share Consideration
will bear the following legend, or another legend to the same effect and agrees to the restrictions
set forth therein:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE PROVISIONS OF ANY APPLICABLE
STATE SECURITIES LAWS, BUT HAVE BEEN ACQUIRED BY THE REGISTERED HOLDER HEREOF FOR PURPOSES
OF INVESTMENT AND IN RELIANCE ON STATUTORY EXEMPTIONS UNDER THE SECURITIES ACT, AND
STATUTORY EXEMPTIONS UNDER APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE
SOLD, PLEDGED, TRANSFERRED OR ASSIGNED, EXCEPT IN A TRANSACTION WHICH IS EXEMPT FROM
REGISTRATION UNDER PROVISIONS OF THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS
OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT THEREUNDER.

2.29 Accuracy of Information Furnished. No representation, statement or information in writing made or furnished by the
Shareholders, the Company or any of their respective representatives to Buyer contained in this
Agreement and the various schedules, appendices and exhibits attached hereto contains or shall
contain any untrue statement of a material fact or omits or
shall omit any material fact necessary to make the information contained therein in light of
circumstances in which they were made, not misleading.

 

25

 

ARTICLE III. REPRESENTATIONS AND WARRANTIES OF BUYER

Buyer hereby represents and warrants to the Shareholders as follows:

3.01 Corporate Existence. Buyer is a corporation, validly existing and in good standing under the laws of the State
of Delaware, with the full corporate power and authority to own and operate its properties and to
conduct the Business as and in the places where such properties are now owned or operated or such
Business is now being conducted.

3.02 Corporate Authorization and Enforceability. The execution, delivery and performance by Buyer of this Agreement and the Ancillary
Agreements to which it is a party, the consummation by Buyer of the transactions contemplated
hereby and thereby, and the performance by Buyer of its obligations hereunder and thereunder, are
within Buyer’s legal powers and authority and have been, or will be on or before the Closing Date,
duly authorized by all necessary corporate action on the part of such entity. This Agreement and
the Ancillary Agreements to which it is a party constitute valid and binding agreements of Buyer,
enforceable against it in accordance with their respective terms.

3.03 Non-Contravention.

(a) The execution, delivery and performance by Buyer of this Agreement and the Ancillary
Agreements to which it is a party, the consummation of the transactions contemplated hereby and
thereby, and the performance by Buyer of its obligations hereunder and thereunder, do not and will
not (i) contravene or conflict with the Certificate of Incorporation or Bylaws of Buyer or (ii)
contravene or conflict with or constitute a violation of any provision of any law, regulation,
judgment, injunction, order or decree binding upon or applicable to Buyer.

(b) The execution, delivery and performance of this Agreement and the Ancillary Agreements and
the consummation of the transactions contemplated hereby and thereby require no action by or in
respect of, or filing with, any Governmental or Regulatory Authority.

3.04 Consents. No Approval by any Governmental or Regulatory Authority (other than compliance with the
federal and state securities laws and regulations and the rules of the Nasdaq Global Market) or by
any Person under any material contract, agreement, indenture, lease, instrument or other document
to which Buyer is a party or by which it is bound is required or necessary for the execution,
delivery and performance by Buyer of this Agreement or the Ancillary Agreements to which it is a
party or the consummation of the transactions contemplated hereby or thereby. To the Knowledge of
Buyer, no Approval from any Governmental or Regulatory Authority is required for Buyer to conduct
the Business from and after the Closings, other than Approvals relating to AEC Global.

 

26

 

3.05 Capitalization. The authorized capital stock of Buyer consists of 50,000,000 shares of common stock, par
value $0.001 per share, of which 20,528,964 shares are issued and outstanding and 5,000,000 shares
of preferred stock, par value $0.001 per share, no shares of which are issued
and outstanding. Other than 4,307,736 shares of Buyer Common Stock that are reserved for
issuance pursuant to options that have been granted or authorized to be granted, there are (i) no
shares of capital stock, or other securities of Buyer issued, reserved for issuance or outstanding,
(ii) no rights to receive shares of Buyer Common Stock on a deferred basis granted under an option
plan or otherwise; (iv) no securities of Buyer convertible into or exchangeable or exercisable for
shares of Buyer Common Stock or other ownership interests of Buyer; and (v) no warrants, calls,
options or other rights to acquire from Buyer, and no obligation of Buyer to issue, capital stock
or other securities of Buyer.

3.06 Securities and Exchange Commission Filings. Since September 30, 2010, Buyer
has filed all documents required to be filed by Buyer with the Securities and Exchange Commission
(the “SEC Filings”). As of their respective filing dates, the SEC Filings did not contain
any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements made therein, in light of the circumstances in which
they were made, not misleading, except to the extent the SEC Filings have been corrected, updated
or superseded by a document subsequently filed with the Securities and Exchange Commission.

3.07 Litigation. Since December 31, 2009, except as has been disclosed in the SEC
Filings, there has been no material litigation pending or, to the knowledge of Buyer, threatened
against Buyer or that has been settled by Buyer. There are no judgments, orders, injunctions,
decrees, stipulations or awards (whether rendered by a court, administrative agency, or by
arbitration, pursuant to a grievance or other procedure) against or relating to Buyer.

3.08 Issuance of Buyer Shares. The Share Consideration, when issued, sold and
delivered in compliance with the provisions of this Agreement, will be duly authorized and validly
issued, fully paid and nonassessable. Except as set forth herein and subject to restrictions on
transfer under the securities laws of the United States of America or any state thereof, the Share
Consideration is not subject to any preemptive rights, rights of first refusal or restrictions on
transfer. Assuming the accuracy of the representations contained in Section 2.29 hereof, the Share
Consideration to be issued pursuant hereto will be issued in a transaction exempt from registration
under the Securities Act.

3.09 Accuracy of Information Furnished. No representation, statement or information in writing made or furnished by Buyer to the
Shareholders contains or shall contain any untrue statement of a material fact or omits or shall
omit any material fact necessary to make the information contained therein in light of
circumstances in which they were made, not misleading.

 

27

 

ARTICLE IV. COVENANTS OF THE SHAREHOLDERS

The Shareholders agree that:

4.01 Conduct of the Business. From the date hereof until the Closing Date, the Shareholders shall cause the Company to
conduct the Business in the ordinary course consistent with past practice and use its commercially
reasonable efforts to preserve intact the business organization and relationships with third
parties of the Business and to keep available the services of its
employees, except those employees who voluntarily resign in the normal course. Without in any
way limiting the foregoing provisions of this Section 4.01, the Shareholders agree that from the
date hereof until the Closing Date, the Company shall not:

(a) enter into any Material Contract or transaction outside the ordinary course of business;

(b) amend theArticles of Incorporation or Bylaws of AECsoft USA or the governing documents of
AEC Global;

(c) declare, set aside or pay any dividends on or make any other distributions (whether in
cash, stock or property) in respect of the AECsoft USA Common Stock, the AEC Global Capital Stock
or any Convertible Securities (except that AECsoft USA shall be permitted to make cash
distributions to its shareholders so long as it maintains cash and cash equivalents of at least
$1,500,000), or effect or approve any split, combination or reclassification of the AECsoft USA
Common Stock, the AEC Global Capital Stock or any Convertible Securities, or repurchase, redeem or
otherwise acquire, directly or indirectly, any shares of AECsoft USA Common Stock, AEC Global
Capital Stock or any Convertible Securities;

(d) issue any securities, except as may be required pursuant to the exercise of any
Convertible Securities existing on the date of this Agreement;

(e) enter into any employment agreement;

(f) terminate or modify any existing benefit arrangement or employee benefit plan, pay any
bonuses other than annual bonuses in the ordinary course of business consistent with past practices
or otherwise increase the annual level of compensation of any existing employee;

(g) encumber, sell, lease, license or otherwise transfer any assets, properties or rights of
the Company to any Person, other than the non-exclusive license of the Company Software to
customers in the ordinary course of business;

(h) transfer any rights to any Intellectual Property to any Person, other than the
non-exclusive license of the Company Software to customers in the ordinary course of business;

(i) cancel or waive any Liability owing to the Company;

(j) incur any Liability in excess of $10,000;

(k) make any payment in excess of $10,000;

(l) purchase or otherwise acquire any property, rights or assets having a value in excess of
$10,000;

(m) terminate or waive any rights, benefits or claims of the Company under any Material
Contract,

(n) amend or terminate any Material Contract;

 

28

 

(o) (i) make or change any election in respect of Taxes, (ii) adopt or change any accounting
method in respect of Taxes, (iii) enter into any tax allocation agreement, tax sharing agreement,
tax indemnity agreement, closing agreement, or settlement or compromise of any claim or assessment
in respect of Taxes, or (iv) consent to any extension or waiver of the limitation period applicable
to any claim or assessment in respect of Taxes with any Taxing Authority or otherwise;

(p) fail to renew, cancel, or amend any insurance policy;

(q) enter into any barter transactions for AECsoft Products and Services;

(r) take any action, or fail to take any action, that results in, or could reasonably be
expected to result in, any representation or warranty contained in Article II hereof to be in
accurate in any material respect (without regard to any materiality qualifiers contained in such
representation or warranty); or

(s) agree to do any of the foregoing.

4.02 Notices of Certain Events. From the date hereof until the Closing Date, the Shareolders shall promptly notify
Buyer of:

(a) any event or occurrence that could reasonably be expected to render any representation or
warranty of the Shareholders contained in this Agreement, if made on or as of the date of such
event or the Closing Date, untrue or inaccurate in any material respect;

(b) any Material Adverse Effect or any event or occurrence that could reasonably be expected
to have a Material Adverse Effect;

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

(d) any notice or other communication from any Governmental or Regulatory Authority in
connection with the transactions contemplated by this Agreement; and

(e) any actions, suits, claims, investigations or proceedings commenced or, to the Company’s
Knowledge, threatened, against the Shareholders, the Company, the Company’s assets and properties
or the Business that, if pending on the date of this Agreement, would have been required to have
been disclosed pursuant to Section 2.14.

4.03 Maintenance of Business Relationships. The Shareholders shall cause the Company to use its best efforts to carry on and preserve
the Business and its relationships with customers, suppliers, employees and others in substantially
the same manner as it has prior to the date hereof. If the Company or the Shareholders become
aware of a material deterioration in the relationship with any customer, supplier or employee, the
Shareholders will promptly bring such information to the attention of Buyer in writing and, if
requested by Buyer, will exert their best efforts to restore the relationship.

 

29

 

4.04 Termination of 401(k) Plan. Effective immediately prior to the Closing Date and contingent upon the Closing, the
Shareholders shall cause the Company to terminate any and all Plans intended to include an Internal
Revenue Code Section 401(k) arrangement (unless Buyer provides written notice to the Company that
such 401(k) plans shall not be terminated within a reasonable period of time prior to the Closing
Date). Unless Buyer provides such written notice to the Shareholders, the Shareholders shall
provide Buyer with evidence that such Plans have been terminated (effective immediately prior to
the Closing Date and contingent upon the Closing) pursuant to resolutions of the Company’s Board of
Directors. The form and substance of such resolutions shall be subject to the review and approval
of Buyer.

4.05 Access to Information. Between the date of this Agreement and the earlier of the Closing or the termination of
this Agreement, upon reasonable notice, the Shareholders shall cause the Company to (i) give Buyer
and its representatives reasonable access to all buildings, offices, and other facilities and to
all books and records of the Company, whether located on the premises of the Company or at another
location; (ii) permit Buyer to make such inspections as they may reasonably require; (iii) cause
its officers to furnish Buyer such financial, operating, technical and product data and other
information with respect to the Business and the assets and properties of the Company as Buyer from
time to time may request, including financial statements and schedules; (iv) allow Buyer the
opportunity to interview such employees and other personnel and Affiliates of the Company with the
Company’s prior written consent, which consent shall not be unreasonably withheld or delayed; and
(v) assist and cooperate with Buyer in the development of integration plans for implementation by
Buyer following the Closings; provided, however, that no investigation pursuant to this Section
4.05 shall affect or be deemed to modify any representation or warranty made by the Shareholders
herein. Materials furnished to Buyer pursuant to this Section 4.05 may be used by Buyer for
strategic and integration planning purposes relating to accomplishing the transactions contemplated
hereby.

4.06 Covenant Not to Compete.

(a) During the Restricted Period, each Shareholder covenants and agrees to not, Directly or
Indirectly, engage within the Territory in any activity, business or venture that develops,
distributes, sells or provides products or services that Competes with the Business.

(b) Each Shareholder agrees that the terms and the time periods provided for, and the
geographical area encompassed by, the covenants contained in Section 4.06(a) hereof are necessary
and reasonable in order to protect Buyer with respect to the purchase of the Shares. The Parties
agree that the execution, delivery and performance of this Agreement are in consideration of and a
condition to the consummation of the transactions contemplated by this Agreement. If any court
having jurisdiction at any time hereafter shall hold any provision or clause of this Agreement to
be unreasonable as to its scope, territory or term, and if such court in its judgment or decree
shall declare or determine that scope, territory or term which such court deems to be reasonable,
then such scope, territory or term, as the case may be, shall be deemed automatically to have been
reduced or modified to conform to that declared or determined by such court to be reasonable.

 

30

 

(c) The covenants contained in Section 4.06(a) shall be construed as a series of separate
covenants, one for each of the counties in each of the states of the United States and one for each
jurisdiction within each country other than the United States. It is the desire and intent of the
parties that these covenants shall be enforced to the fullest extent permissible under
applicable law and that if one such clause is found unenforceable, the remaining clauses be
enforced.

(d) It is expressly agreed that monetary damages would be inadequate to compensate Buyer for
any breach by any Shareholder of the covenants set forth in Section 4.06(a). Accordingly, in the
event of any breach or threatened breach by any party of any such covenant, Buyer shall be entitled
to seek temporary or permanent injunctive relief in any court of competent jurisdiction, in
addition to any other remedies at law or in equity to which Buyer may be entitled.

4.07 No Solicitation.

(a) Until the earlier of the Closing and the termination of this Agreement, the Shareholders
will not, nor will the Shareholders permit any of the Company’s directors, officers, agents,
employees, Affiliates, attorneys, accountants, financial advisers or other representatives
(collectively, the “Company and its Representatives”) to, (directly or indirectly):

(i) solicit, encourage, initiate, entertain, review or participate in any negotiations or
discussions with respect to any possible Business Combination involving the Company or any of its
Subsidiaries (whether such Subsidiaries are in existence on the date hereof or are hereafter
established) or any offer or proposal, oral, written, or otherwise, formal or informal to acquire
all or any major part of the Company, whether by purchase of assets, exclusive license, joint
venture formation, purchase of stock, business combination or otherwise,

(ii) disclose any information not customarily disclosed to any Person concerning the Company
which could reasonably be expected to be used for the purposes of evaluating any such possible
Business Combination or formulating any such offer or proposal,

(iii) assist, cooperate with, facilitate or encourage any such offer or proposal, or any
effort or attempt by any such Person with regard to any such possible Business Combination,

(iv) enter into any contract, arrangement or understanding with any Person, looking toward a
Business Combination,

(v) make or authorize any statement, endorsement, recommendation or solicitation in support of
any such offer or proposal or any such possible Business Combination,

(vi) agree to, enter into, approve, recommend or endorse a contract regarding, any
transaction involving the acquisition of all or any substantial portion of the Company, its assets
or the Business, or

(vii) authorize or permit the Company and its Representatives to take any action within the
scope of any of the foregoing clauses.

 

31

 

(b) Without limiting the provisions set forth in Section 4.07(a), if any substantive proposal
or offer regarding a Business Combination is made or is outstanding on the date hereof, the
Shareholders shall notify Buyer (such notice to include the identity of the Person proposing such
Business Combination and the terms thereof), and shall keep Buyer fully apprised, on a current
basis, of the status and details of any such Business Combination and of any modifications to
the terms thereof. The Shareholders immediately shall cease and cause to be terminated all
existing discussions or negotiations with any parties other than Buyer conducted heretofore with
respect to any Business Combination.

(c) Each of the Shareholders and Buyer acknowledge that this Section 4.07 was a significant
inducement for Buyer to enter into this Agreement and the absence of such provision would have
resulted in either (i) a material reduction in the consideration to be paid to the Shareholders or
(ii) a failure to induce Buyer to enter into this Agreement.

ARTICLE V. OTHER AGREEMENTS

The parties hereto agree that:

5.01 Commercially Reasonable Efforts; Further Assurances. Subject to the terms and conditions of this Agreement, each of the parties to this
Agreement will use commercially reasonable efforts to take, or cause to be taken, all actions and
to do, or cause to be done, all things necessary or desirable under applicable laws and regulations
to consummate the transactions contemplated by this Agreement. From and after the Closings, Buyer
and the Shareholders each agree to execute and deliver such other documents, certificates,
agreements and other writings and to take such other actions as may be necessary or desirable in
order to fully implement expeditiously the transactions contemplated by this Agreement and to
facilitate the operation of the Business following the Closings.

5.02 Certain Filings and Approvals. Buyer and the Shareholders each shall cooperate with one another (a) in determining whether
any action by or in respect of, or filing with, any Governmental or Regulatory Authority is
required, or any actions or Approvals are required to be obtained from parties to any Material
Contracts, in connection with the consummation of the transactions contemplated by this Agreement,
(b) in furnishing information required in connection with taking any such actions or making any
such filings and (c) in seeking, in a timely manner, to take any such actions or obtain any such
consents, approvals or waivers.

5.03 Public Announcements. Except as otherwise provided in this Agreement, or unless otherwise required by applicable
law (including federal and state securities laws) or, as to Buyer, by the rules and regulations of
the Nasdaq Global Market, no public disclosure (whether or not in response to any inquiry) of the
existence of any subject matter of, or the terms and conditions of, this Agreement shall be made by
any party hereto unless approved by Buyer and the Shareholders prior to release; provided, however,
that such approval shall not be unreasonably withheld or delayed.

5.04 Expenses. Whether or not the transactions contemplated hereby are consummated, all fees and expenses,
including all legal, accounting, financial advisory, consulting or other fees and expenses of third
parties (“Transaction Expenses”) incurred by a party in connection with the negotiation and
effectuation of the sale and transfer of the Shares and/or the Business, shall be the obligation of
the respective party incurring such fees and expenses. Without limiting the generality of the
foregoing, the Company shall not incur any Transaction Expenses on behalf of the Shareholders in
connection with the transactions contemplated hereby that will not be satisfied at or prior to
Cloisng.

 

32

 

5.05 Transfer of Assets. Prior to the AECsoft USA Closing, (i) the Company shall
transfer and assign to one or more of the Shareholders all automobiles owned or leased by the
Company together with all related automobile insurance policies and all other obligations with
respect to such automobiles, and (ii) the Company shall transfer and assign to each respective
Shareholder personal and key man life insurance policies owned or possessed by the Company with
respect to such Shareholder.

5.06 Tax Matters.

(a) Buyer shall prepare or cause to be prepared, and file or cause to be filed, all Tax
Returns for the Company that are due after each Closing Date.

(b)

(i) Buyer and the Shareholders shall cooperate fully, as and to the extent reasonably
requested by the other party, in connection with the filing of Tax Returns pursuant to this
section and any audit, litigation or other proceeding with respect to Taxes. Such cooperation
shall include the retention and (upon the other party’s request) the provision of records and
information that are reasonably relevant to any such audit, litigation or other proceeding and
making employees available on a mutually convenient basis to provide additional information and
explanation of any material provided hereunder.

(ii) Buyer and the Shareholders further agree, upon request, to use their commercially
reasonable best efforts to obtain any certificate or other document from any Governmental or
Regulatory Authority or any other Person as may be necessary to mitigate, reduce or eliminate any
Tax that could be imposed (including, but not limited to, with respect to the transactions
contemplated hereby).

(iii) Buyer and the Shareholders further agree, upon request, to provide the other party
with all information that either party may be required to report pursuant to Internal Revenue
Code §6043, or Internal Revenue Code §6043A, or Treasury Regulations promulgated thereunder.

5.07 Resales of the Shares. Buyer agrees to use its commercially reasonable efforts
to facilitate each Shareholder’s ability to sell the Shares in accordance with the requirements of
Rule 144 promulgated under the Securities Act (“Rule 144”), including providing Buyer’s
transfer agent with appropriate instruction letters or legal opinion letters to authorize the sale
of the Shares in accordance with Rule 144. Each Shareholder agrees that all sales of the Shares
(other than sales pursuant to the registration rights granted in the Stock Restriction Agreements)
shall be made in compliance with Rule 144. Without limiting the foregoing, each Shareholder agrees
to comply with the volume limitations contained in paragraph (e) of Rule 144, regardless of whether
the undersigned shall be deemed to be an affiliate of Buyer.

 

33

 

ARTICLE VI. CONDITIONS TO CLOSING

6.01 Conditions to the Obligations of Each Party. The obligations of Buyer and the Shareholders to consummate each Closing are subject to the
satisfaction of the following conditions:

(a) No provision of any applicable law or regulation, nor any judgment, injunction, order or
decree, shall prohibit the consummation of the Closing.

(b) All actions by or in respect of or filings with any Governmental or Regulatory Authority
required to permit the consummation of the Closing shall have been obtained.

6.02 Conditions to Obligation of Buyer. The obligation of Buyer to consummate each Closing is subject to the satisfaction of the
following further conditions, each of which is for the benefit of Buyer and any one or more of
which may be waived by Buyer:

(a) The representations and warranties of the Shareholders contained in this Agreement shall
have been true and correct at and as of the date hereof and at and as of the applicable Closing
Date with the same force and effect as though made at and as of that time, except for
representations and warranties that by their express terms are made solely as of a specific date,
which representations and warranties shall be true and correct in all material respects as of the
date so made. The Shareholders shall have performed and complied in all material respects with all
of their obligations required by this Agreement to be performed or complied with at or prior to the
applicable Closing Date. The Shareholders shall have delivered to Buyer a certificate, dated as of
the applicable Closing Date and signed by each of the Shareholders, certifying that such
representations and warranties are thus true and correct and that all such obligations have been
thus performed and complied with or waived by Buyer.

(b) There shall not be pending or threatened any actions, suits, claims, governmental
investigations or arbitration proceedings that threaten, or could reasonably be expected to result
in, substantial damages or that challenge the validity of this Agreement or any action taken or to
be taken in connection herewith or otherwise seeks to restrain, prohibit or invalidate the
transactions contemplated hereby.

(c) All Required Consents shall have been obtained and shown by written evidence reasonably
satisfactory to Buyer.

(d) The Escrow Agent shall have executed and delivered to Buyer the Escrow Agreement.

(e) There shall not have been since the date of this Agreement any Material Adverse Effect on
the Company or any event or occurrence that could reasonably be expected to result in a Material
Adverse Effect.

(f) With respect to the AECsoft USA Closing, the Shareholders shall have completed each of the
deliveries required by Section 1.03, and with respect to the AEC Global Closing, Ren shall have
completed each of the deliveries required by Section 1.04.

(g) With respect to the AECsoft USA Closing, at least 90% of the full-time non-clerical or
administrative employees employed by Company as of the date of this Agreement shall continue to be
employed by Company on the Closing Date (excluding any employees whose employment have been
terminated by the Company with the prior written consent of Buyer) and shall not have given any
notice or other indication that they are not willing to continued to be employed by the Company or
Buyer following the transactions contemplated hereby.

 

34

 

(h) With respect to the AECsoft USA Closing, the Shareholders shall have provided written
evidence reasonably satisfactory to Buyer that all options or other rights to acquire the capital
stock of AECsoft USA offered or granted to Thomas Kase have been terminated.

(i) With respect to the AECsoft USA Closing, the Shareholders shall have provided written
evidence reasonably satisfactory to Buyer that all employees of the Company have executed
appropriate instruments of assignment in favor of the Company as assignee that have conveyed to the
Company full, effective, and exclusive ownership of all tangible and intangible property arising
from their employment.

(j) With respect to the AECsoft USA Closing, all directors and officers of AECsoft USA shall
have provided to Buyer written notice of resignation from all positions with AECsoft USA, which
resignations shall be effective upon such Closing.

(k) With respect to the AEC Global Closing, the AECsoft USA Closing shall have been completed
or shall be occurring simultaneously.

(l) With respect to the AEC Global Closing, all applicable Approvals necessary for the conduct
of the Business in the People’s Republic of China as a “wholly-foreign owned enterprise and trading
company” shall have been obtained and shown by written evidence reasonably satisfactory to Buyer.

(m) With respect to the AEC Global Closing, all directors and officers of AEC Global shall
have provided to Buyer written notice of resignation from all positions with AEC Global, which
resignations shall be effective upon such Closing.

6.03 Conditions to Obligations of the Shareholders. The obligation of the Shareholders to consummate the Closing is subject to the satisfaction
of the following further conditions, each of which is for the benefit of the Shareholders and any
one or more of which may be waived by the Shareholders:

(a) The representations and warranties of Buyer contained in this Agreement shall have been
true and correct in all material respects at and as of the date hereof and at and as of the Closing
Date (in each case without regard to any materiality qualifiers contained in such representations
and warranties) with the same force and effect as though made at and as of that time, except for
representations and warranties that by their express terms are made solely as of a specific date
which representations and warranties shall be true and correct in all material respects as of the
date so made. Buyer shall have performed and complied in all material respects with all of its
obligations required by this Agreement to be performed or complied with at or prior to the Closing
Date. Buyer shall have delivered to the Shareholders a certificate, dated as of the Closing Date
and signed by a duly authorized representative, certifying that such representations and warranties
are thus true and correct and that all such obligations have been thus performed and complied with
or waived by the Shareholders.

(b) There shall not be pending or threatened any actions, suits, claims, governmental
investigations or arbitration proceedings that challenge the validity of this Agreement or any
action taken or to be taken in connection herewith or otherwise seeks to restrain, prohibit or
invalidate the transactions contemplated hereby.

 

35

 

(c) With respect to the AECsoft USA Closing, Buyer shall have completed each of the deliveries
required by Section 1.03, and with respect to the AEC Global Closing, Buyer shall have completed
each of the deliveries required by Section 1.04.

(d) With respect to the AEC Global Closing, the AECsoft USA Closing shall have been completed
or shall be occurring simultaneously.

ARTICLE VII. SURVIVAL; INDEMNIFICATION

7.01 Survival of Representations, Warranties, Covenants and Agreements. Each party shall have the right to rely fully upon the representations, warranties, covenants
and agreements of the other party contained in this Agreement or in any certificate delivered
pursuant to Section 6.02(a) or Section 6.03(a) of this Agreement. All representations and
warranties of the Shareholders, all covenants and agreements of the Shareholders that by their
terms are to be performed on or prior to either Closing Date, all representations and warranties of
Buyer and all covenants and agreements of Buyer that by their terms are to be performed on or prior
to either Closing Date that are contained in this Agreement or in any certificate delivered
pursuant to this Agreement shall survive each Closing and continue until December 15, 2012, except
that the representations and warranties contained in Sections 2.04, 2.08(b), 2.15, 2.19, 2.20 and
2.21 shall survive until the third anniversary of the AECsoft Closing Date and the representations
and warranties contained in Section 2.16 shall survive until the ninetieth (90th) day
following the expiration of all statutes of limitations applicable to the subject matter thereof;
provided, however, that if, at any time prior to the applicable expiration date for any
representation and warranty, (i) any Buyer Indemnified Party (as defined below) delivers a written
notice asserting a claim for recovery under Section 7.02 with respect to such representation and
warranty or (ii) any Shareholder Indemnified Party (as defined below) delivers a written notice
asserting a claim for recovery under Section 7.03 with respect to such representation and warranty,
then such representation and warranty shall survive the expiration date until such time as such
claim is fully and finally resolved. The representations and warranties contained in Sections
2.04, 2.08(b), 2.15, 2.16, 2.19, 2.20 and 2.21 are referred to herein collectively as the
“Fundamental Representations”.

7.02 Indemnification of the Buyer Indemnified Parties.

(a) Each Shareholder, jointly and severally, agrees to indemnify and hold harmless Buyer and
each of its officers, directors, shareholders, agents, employees, successors and assigns
(collectively, the “Buyer Indemnified Parties”) in respect of all expenses, losses,
penalties, costs, deficiencies, liabilities and damages (including related counsel fees and
expenses) (collectively, the “Indemnifiable Damages”) incurred or suffered by any such
Buyer Indemnified Party resulting from:

(i) Any inaccurate representation or warranty made by the Shareholders in or pursuant to this
Agreement, any certificate delivered pursuant to this Agreement or any of the Ancillary Agreements;

(ii) Any default in the performance of any of the covenants or agreements made by the
Shareholders in this Agreement or any of the Ancillary Agreements;

 

36

 

(iii) Any Transaction Expenses of the Shareholders that are not paid out of the Purchase Price
at the Closing (“Excess Transaction Expenses”);

(iv) Any fraud or intentional misrepresentations of the Shareholders or the Company;

(v) The amount of any Cash Shortfall;

(vi) Any fees or expenses of a Disputes Auditor that are the responsibility of the
Shareholders;

(vii) Any matter identified or required to be identified in Schedule 2.14; and

(viii) Each of the matters set forth on Schedule 7.02.

(b) The foregoing obligation of the Shareholders to indemnify the Buyer Indemnified Parties
shall be subject to each of the following principles or qualifications:

(i) No claim for the recovery of Indemnifiable Damages pursuant to Section 7.02(a)(i) may be
asserted by any Buyer Indemnified Party against the Shareholders after such representations and
warranties shall be thus extinguished; provided, however, that claims first asserted in writing
within the applicable period shall not thereafter be barred.

(ii) Other than with respect to Indemnifiable Damages resulting from the fraud or intentional
misrepresentations of the Shareholders or any inaccuracy in the Fundamental Representations, the
maximum aggregate amount of indemnification payable by the Shareholders pursuant to this Section
7.02 shall be limited to an amount not to exceed $2,550,000. With respect to any inaccuracy in the
Fundamental Representations, the maximum aggregate amount of indemnification payable by the
Shareholders pursuant to this Section 7.02 shall be limited to an amount not to exceed $5,000,000
(the “Fundamental Representations Cap”); provided, however, that (A) the Fundamental
Representations Cap shall be reduced to $2,500,000 for any claims that are first asserted in
writing after the second anniversary of the AECsoft USA Closing Date, (B) the Fundamental
Representations Cap shall be reduced to $1,250,000 for any claims that are first asserted in
writing after the fourth anniversary of the AECsoft USA Closing Date, and (C) the Fundamental
Representations Cap in effect at anytime shall be reduced by the aggregate amount of any
indemnification claims paid by the Shareholders with respect to any inaccuracy in any
representations or warranties that do not constitute Fundamental Representations. Notwithstanding
anything to the contrary set forth in this Agreement, the Shareholders shall only be liable to the
Buyer Indemnified Parties for indemnification under Section 7.02 in the event that the
Indemnifiable Damages of the Buyer Indemnified Parties exceeds $50,000 in the aggregate (the
“Basket Amount”), in which event the Shareholders shall be liable for all Indemnifiable
Damages of the Buyer Indemnified Parties; provided, however, that the Basket Amount shall not apply
to Indemnifiable Damages resulting from (i) Excess Transaction Expenses, (ii) any inaccuracy in the
Fundamental Representations, (iii) any Cash Shortfall, (iv) any fees or expenses of a Disputes
Auditor that are the responsibility of the Shareholders, or (v) any matter referenced in
Schedule 7.02.

(iii) For purposes of determining the amount of Indemnifiable Damages resulting from the
matters described in Section 7.02(a), the representations, warranties, covenants
and agreements applicable thereto shall be deemed not to include any qualification or
limitation with respect to materiality (whether by the terms “material” or “materiality” or by
reference to a “Material Adverse Effect,” a “Material Adverse Change,” or otherwise).

 

37

 

7.03 Indemnification of the Shareholder Indemnified Parties.

(a) Buyer agrees to indemnify and hold the Shareholders and their respective agents,
employees, successors and assigns (the “Shareholder Indemnified Parties”) harmless in
respect of the aggregate of all Indemnifiable Damages incurred or suffered by the Shareholder
Indemnified Parties resulting from:

(i) Any inaccurate representation or warranty made by Buyer in this Agreement, any certificate
delivered pursuant to this Agreement or any of the Ancillary Agreements;

(ii) Any default in the performance of any of the covenants or agreements made by Buyer in
this Agreement or any of the Ancillary Agreements; and

(iii) Any fraud or intentional misrepresentations of the Shareholders or the Company.

(b) The foregoing obligation of Buyer to indemnify the Shareholder Indemnified Parties shall
be subject to each of the following principles or qualifications:

(i) No claim for the recovery of Indemnifiable Damages pursuant to Section 7.03(a)(i) may be
asserted by any Shareholder Indemnified Parties against Buyer or its successors in interest after
such representations and warranties shall be thus extinguished; provided, however, that claims
first asserted in writing within the applicable period shall not thereafter be barred.

(ii) Other than with respect to Indemnifiable Damages resulting from the fraud or intentional
misrepresentations of Buyer, the maximum aggregate amount of indemnification payable by Buyer
pursuant to this Section 7.03 shall be limited to an amount not to exceed the Purchase Price.
Notwithstanding anything to the contrary set forth in this Agreement, Buyer shall only be liable to
the Shareholder Indemnified Parties for indemnification under Section 7.03 in the event that the
Indemnifiable Damages of the Shareholder Indemnified Parties exceeds $50,000 in the aggregate, in
which event Buyer shall be liable for all Indemnifiable Damages of the Shareholder Indemnified
Parties.

(iii) For purposes of determining the amount of Indemnifiable Damages resulting from the
matters described in Section 7.03(a), the representations, warranties, covenants and agreements
applicable thereto shall be deemed not to include any qualification or limitation with respect to
materiality (whether by the terms “material” or “materiality” or by reference to a “Material
Adverse Effect,” a “Material Adverse Change,” or otherwise).

 

38

 

7.04 Escrow Fund. As soon as practicable after the AECsoft USA Closing Date, Buyer shall deposit the Escrow
Amount with the Escrow Agent, such deposit to constitute the “Escrow Fund” to be governed
by the terms set forth herein and the Escrow Agreement. The Escrow Fund shall be available to
satisfy any qualifying indemnification claims pursuant to Section 7.02. The
Shareholders and Buyer agree that claims against the Escrow Fund are not the exclusive remedy
of Buyer or any Buyer Indemnified Party under this Agreement, except that claims against the Escrow
Fund and offsets against the Earnout Payments shall be the exclusive remedy for indemnification
claims arising from any inaccuracy in any representations or warranties that do not constitute
Fundamental Representations. Other than in the case of fraud or willful breach or intentional
misrepresentation, Indemnifiable Damages asserted by the Buyer Indemnified Parties pursuant to
Section 7.02 shall be satisfied first by offsetting the amount of such Indemnifiable Damages
against any Earnout Payment that has been finally determined to be payable pursuant to Section
1.02(c) and second, if no such Earnout Payment is then payable pursuant to Section 1.02(c) or such
Earnout Payment is insufficient to fully satisfy such Indemnifiable Damages, by distribution from
the Escrow Fund in accordance with the terms of the Escrow Agreement. The Shareholders obligation
to satisfy indemnification claims by the Buyer Indemnified Parties pursuant to Section 7.02 shall
be limited to offsets of the Earnout Payments and distributions from the Escrow Fund until such
time as claims have been asserted by Buyer Indemnified Parties for aggregate Indemnifiable Damages
in excess of the amount of the Escrow Fund then held by the Escrow Agent pursuant to the Escrow
Agreement.

7.05 General Indemnification Procedures.

(a) A party seeking indemnification pursuant to Sections 7.02 or 7.03 (an “Indemnified
Party”) shall give prompt notice to the party from whom such indemnification is sought (the
“Indemnifying Party”) of the assertion of any claim for Indemnifiable Damages or the
commencement of any action, suit or proceeding, in respect of which indemnity may be sought
hereunder and will give the Indemnifying Party such information with respect thereto as the
Indemnifying Party may reasonably request, but failure to give such notice shall not relieve the
Indemnifying Party of any liability hereunder (except to the extent that the Indemnifying Party has
suffered actual prejudice thereby). If any Indemnifying Party shall be obligated to indemnify an
Indemnified Party hereunder, such Indemnifying Party shall pay to such Indemnified Party the amount
to which such Indemnified Party shall be entitled.

(b) The Indemnifying Party shall have the right (but not the obligation), exercisable by
written notice to the Indemnified Party within fifteen (15) days of receipt of notice from the
Indemnified Party of the commencement of or assertion of any claim or action, suit or proceeding by
a person not a party to this Agreement (other than an Affiliate of any party hereto) in respect of
which indemnity may be sought hereunder (a “Third Party Claim”), to assume the defense and
control the settlement of such Third Party Claim which involves (and continues to involve) solely
monetary damages; provided that (A) the Indemnifying Party expressly agrees in such notice that, as
between the Indemnifying Party and the Indemnified Party, the Indemnifying Party shall be solely
obligated to satisfy and discharge the Third Party Claim; (B) the defense of such Third Party Claim
by the Indemnifying Party will not, in the reasonable judgment of the Indemnified Party will be
adverse to the interests of the Indemnified Party; and (C) the Indemnifying Party makes reasonably
adequate provision to ensure the Indemnified Party of the ability of the Indemnifying Party to
satisfy the full amount of any adverse monetary judgment that may result (the conditions set forth
in clauses (A), (B) and (C) are collectively referred to as the “Litigation Conditions”).

 

39

 

(c) Within fifteen (15) days after the Indemnifying Party has given written notice to the
Indemnified Party of its intended exercise of its right to defend and control the right to settle a
Third Party Claim, the Indemnified Party shall give written notice to the Indemnifying Party of any
objection thereto based upon the Litigation Conditions. If the Indemnified Party so objects,
the Indemnified Party shall continue to defend the Third Party Claim until such time as such
objection is withdrawn. If no such notice of objection is given, or if any such objection is
withdrawn, the Indemnifying Party shall be entitled to assume and conduct such defense, with
counsel selected by the Indemnifying Party and reasonably acceptable to the Indemnified Party,
until such time as the Indemnified Party shall give notice that any of the Litigation Conditions,
in its reasonable judgment, are no longer satisfied. If the Indemnified Party is defending the
claim after it has made an objection based upon the Litigation Conditions, the Indemnifying Party
shall thereafter remain obligated to pay the amount found to be owing to, or agreed to in a
settlement made pursuant to Section 7.05(e) with, the third party with respect to such Third Party
Claim, and shall be obligated to pay the costs (including attorneys’ fees and reasonable expenses)
incurred by the Indemnified Party defending such Third Party Claim.

(d) The Indemnifying Party or the Indemnified Party, as the case may be, shall have the right
to participate in (but not control), at its own expense, the defense of any Third Party Claim which
the other is defending as provided in this Agreement.

(e) If the Indemnifying Party has not assumed the defense thereof, the Indemnified Party shall
have the sole and exclusive right to settle any Third Party Claim on such terms and conditions as
it deems appropriate. If the Indemnifying Party shall have assumed the defense of any Third Party
Claim as provided in this Agreement, the Indemnifying Party shall not consent to a settlement of,
or the entry of any judgment arising from, any such Third Party Claim without the prior written
consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed).

(f) Regardless of whether the Indemnifying Party chooses to defend or prosecute any Third
Party Claim, all the parties hereto shall cooperate in the defense or prosecution thereof and shall
furnish such records, information and testimony, and attend such conferences, discovery
proceedings, hearings, trials and appeals, as may be reasonably requested in connection therewith.

(g) Without limiting the generality of the foregoing, with respect to the measurement of
Indemnifiable Damages, any Indemnified Party shall have the right to be put in the same financial
position as they would have been had each of the representations and warranties of Buyer and the
Shareholders, as applicable, been true and correct and had each of the covenants of Buyer and the
Shareholders, as applicable, been performed in full. The amount of any Indemnifiable Damages
otherwise payable to an Indemnified Party hereunder shall be reduced if the Indemnifiable Damages
incurred by such Indemnified Party will provide such Indemnified Party with income tax deductions
or credits. The amount of the reduction shall be the amount of the actual cash tax savings
realized by such Indemnified Party as a result of such deductions or credits, discounted to its
present value as of the date of the payment of the Indemnifiable Damages from the date such
Indemnifiable Damages were incurred by such Buyer Indemnified Party at the rate of interest charged
on such date by the Internal Revenue Service on underpayment of taxes.

 

40

 

(h) The amount of any Indemnifiable Damages incurred or suffered by any Buyer Indemnified
Party shall be calculated after giving effect to (i) any insurance proceeds actually received by
such Buyer Indemnified Party with respect to such Indemnifiable Damages, less (A) the cost and
expense of pursuing such insurance recovery, (B) the deductible associated therewith, and
(C) the amount of all retro-premium obligations and reasonably anticipated premium increases
resulting from such recovery, and (ii) any recoveries actually received by the Buyer Indemnified
Party from any other third party, less the cost and expense of pursuing such recoveries.

(i) Any payments made as indemnification under this Article VII shall be considered
adjustments to the Purchase Price.

(j) The Buyer Indemnified Parties’ right to indemnification under this Article VII shall not
be affected by any investigation (including any environmental, regulatory or intellectual property
investigation or assessment) conducted with respect to, or any knowledge acquired (or capable of
being acquired) by, Buyer or any of its Affiliates or other representatives at any time, whether
before or after the execution and delivery of this Agreement or the Closing Date, with respect to
the accuracy or inaccuracy of or compliance with any representation, warranty, covenant or
obligation. The waiver of any condition related to the accuracy of any representation or warranty,
or on the performance of or compliance with any covenant or obligation, will not affect the right
to indemnification, reimbursement or other remedy based upon any such representation, warranty,
covenant or obligation.

(k) The Shareholders waive any defense arising by reason of any inability of any other obligor
to pay or any defense based on bankruptcy or insolvency or other similar limitations on creditors’
remedies with respect to any other Person. The Shareholders shall not have any right of
subrogation with respect to the Company, any Affiliate of the Company or any Buyer Indemnified
Party, and the Shareholders waive any right to enforce any remedy which Buyer, any Affiliate of
Buyer or any Buyer Indemnified Party now has or may hereafter have against any other Person and
waive any benefit or any right to participate in any collateral or security whatsoever now or
hereafter held by Buyer, any Affiliate of Buyer or any Buyer Indemnified Party.

(l) To the fullest extent permitted by applicable law, no Shareholder shall have, and no such
holder shall exercise or assert (or attempt to exercise or assert), any right of contribution,
right of indemnity or other right or remedy against the Company in connection with any
indemnification obligation or any other liability to which such holder may become subject or which
may be payable out of the Escrow Fund under or in connection with this Agreement.

 

41

 

7.06 Shareholders Agent.

(a) Ren and Xiong are hereby constituted and appointed jointly as the Shareholders Agent. Ren
and Xiong hereby accept such appointment as the Shareholders Agent, and all actions, decisions and
consents of the Shareholders Agent shall be made by Ren and Xiong acting jointly. For purposes of
this Agreement, the term “Shareholders Agent” shall mean the agent for and on behalf of the
Shareholders to: (i) give and receive notices and communications to or from Bany Buyer Indemnified
Party relating to this Agreement or any of the transactions and other matters contemplated hereby
or thereby (except to the extent that this Agreement expressly contemplates that any such notice or
communication shall be given or received by such stockholders individually); (ii) execute the
Escrow Agreement on behalf of the Shareholders; (iii) authorize deliveries to Buyer of cash from
the Escrow Fund in satisfaction of claims asserted by any Buyer Indemnified Party pursuant to this
Article VII, including by not objecting to such claims; (iv) object to such claims pursuant to
this Article VII; (v) consent or agree to, negotiate, enter into settlements and
compromises of, and comply with orders of courts with respect to, any claims pursuant to this
Article VII; (vi) consent or agree to any amendment to this Agreement, and (vii) take all actions
necessary or appropriate in the judgment of the Shareholders Agent for the accomplishment of the
foregoing, in each case without having to seek or obtain the consent of any Person under any
circumstance. The Person serving as the Shareholders Agent may be replaced from time to time by
the Shareholders representing a majority in interest of the cash then on deposit in the Escrow Fund
upon not less than ten days’ prior written notice to Buyer. No bond shall be required of the
Shareholders Agent, and the Shareholders Agent shall receive no compensation for his services.

(b) The Shareholders Agent shall not be liable to any Shareholders for any act done or omitted
hereunder as the Shareholders Agent while acting in good faith (and any act done or omitted
pursuant to the advice of counsel shall be conclusive evidence of such good faith) and without
gross negligence or willful misconduct. The Shareholders shall severally indemnify the
Shareholders Agent and hold him harmless against any loss, liability or expense incurred without
gross negligence, willful misconduct or bad faith on the part of the Shareholders Agent and arising
out of or in connection with the acceptance or administration of his duties hereunder, including
any out-of-pocket costs and expenses and legal fees and other legal costs reasonably incurred by
the Shareholders Agent.

(c) Any notice or communication given or received by, and any decision, action, failure to act
within a designated period of time, agreement, consent, settlement, resolution or instruction of,
the Shareholders Agent that is within the scope of the Shareholders Agent’s authority hererunder
shall constitute a notice or communication to or by, or a decision, action, failure to act within a
designated period of time, agreement, consent, settlement, resolution or instruction of all the
Shareholders and shall be final, binding and conclusive upon each such Shareholder; and each Buyer
Indemnified Party shall be entitled to rely upon any such notice, communication, decision, action,
failure to act within a designated period of time, agreement, consent, settlement, resolution or
instruction as being a notice or communication to or by, or a decision, action, failure to act
within a designated period of time, agreement, consent, settlement, resolution or instruction of,
each and every such Shareholders.

(d) THE SHAREHOLDERS AGENT SHALL NOT BE LIABLE TO THE SHAREHOLDERS FOR ANY ACT DONE OR OMITTED
HEREUNDER AS SHAREHOLDERS AGENT WHILE ACTING IN GOOD FAITH AND IN THE EXERCISE OF REASONABLE
JUDGMENT, ANY ACT DONE OR OMITTED PURSUANT TO THE ADVICE OF COUNSEL SHALL BE CONCLUSIVE EVIDENCE OF
THE SHAREHOLDER AGENT’S GOOD FAITH AND REASONABLENESS. THE SHAREHOLDERS SHALL SEVERALLY AND NOT
JOINTLY INDEMNIFY THE SHAREHOLDERS AGENT AND HOLD HIM OR HER HARMLESS AGAINST ANY LOSS, LIABILITY
OR EXPENSE INCURRED WITHOUT GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR BAD FAITH ON THE PART OF THE
SHAREHOLDERS AGENT AND ARISING OUT OF OR IN CONNECTION WITH THE ACCEPTANCE OR ADMINISTRATION OF HIS
DUTIES HEREUNDER. IN ADDITION TO THE RIGHT OF INDEMNIFICATION AS AGAINST THE SHAREHOLDERS
INDIVIDUALLY, THE SHAREHOLDERS AGENT SHALL BE ENTITLED TO INDEMNIFICATION FROM THE ESCROW AMOUNT
FOR ANY SUCH LOSS, ABILITY OR EXPENSE FROM ANY DISTRIBUTION THEREOF TO THE SHAREHOLDERS.

 

42

 

(e) The Shareholders Agent will serve without compensation, but the Shareholders Agent may
satisfy any out of pocket expenses reasonably incurred, including expenses for lawyers, accountants
and other experts employed on behalf of the Shareholders, of up to Fifty Thousand Dollars ($50,000)
by deducting such fees and expenses from any distribution of the Escrow Amount to the
Shareholders. The Shareholders shall jointly and severally indemnify Shareholders Agent for all
fees and expenses reasonably incurred by the Shareholders Agent in excess of Fifty Thousand Dollars
($50,000).

(f) A decision, act, consent or instruction of the Shareholders Agent shall constitute a
decision of all of the Shareholders and shall be final, binding and conclusive upon each and every
Shareholder, and the Escrow Agent (as defined in the Escrow Agreement) and Buyer may rely upon any
decision, act, consent or instruction of the Shareholders Agent as being the decision, act, consent
or instruction of each and every Shareholder.

ARTICLE VIII. TERMINATION, AMENDMENT AND WAIVER

8.01 Grounds for Termination. This Agreement may be terminated at any time prior to the AECsoft USA Closing:

(a)

(i) by mutual written agreement of Buyer and the Shareholders;

(ii) by either Buyer or the Shareholders if consummation of the transactions contemplated
hereby would violate any nonappealable final order, decree or judgment of any Governmental or
Regulatory Authority having competent jurisdiction;

(iii) by either Buyer or the Shareholders, if: (A) the AECsoft USA Closing has not occurred
before 5:00 p.m. (Eastern Time) on March 31, 2011 (the “Outside Closing Date”); provided,
however, that the right to terminate this Agreement under this Section 8.01(a)(iii) shall not be
available to any party whose failure to fulfill any obligation hereunder has been the cause of,
or resulted in, the failure of the AECsoft USA Closing to occur on or before such date; (B) there
shall be a final nonappealable order of a federal or state court in effect preventing
consummation of the transactions contemplated hereby; or (C) there shall be any statute, rule,
regulation or order enacted, promulgated or issued or deemed applicable to the transactions
contemplated hereby by any Governmental or Regulatory Authority that would make consummation of
the transactions contemplated hereby illegal;

(iv) by the Shareholders if there has been any material misrepresentation or breach of, or
failure to satisfy timely in any material respect on the part of Buyer any condition or any
warranty, representation or agreement contained herein, if such breach or failure is not cured
within five Business Days of receipt of written notice thereof from the Shareholders;

(v) by Buyer if there has been any material misrepresentation or breach of, or failure to
satisfy timely in any material respect on the part of the Shareholders any condition or any
material warranty, representation or agreement contained herein, if such breach or failure is not
cured within five Business Days of receipt of written notice thereof from Buyer; or

 

43

 

The party desiring to terminate this Agreement pursuant to clauses (ii), (iii), (iv) or (v) shall
give notice of such termination to the other party.

8.02 Effect of Termination. If this Agreement is terminated as permitted by Section 8.01, such termination shall be
without liability of either party (or any shareholder, director, officer, employee, agent,
consultant or representative of such party) to the other party to this Agreement; provided,
however, that if such termination shall result from the willful failure of either party to fulfill
a condition to the performance of the obligations of the other party or to perform a covenant of
this Agreement or from a willful breach by either party to this Agreement, such party shall be
fully liable for any and all Losses incurred or suffered by the other party as a result of such
failure or breach. In the event of a valid termination of this Agreement, this Agreement shall
forthwith become void and there shall be no liability or obligation on the part of Buyer or the
Company, or their officer, directors, shareholders or Affiliates; provided,
however, that, the provisions of Sections 5.04, 8.02 and Article IX of this Agreement and
that certain Reciprocal Confidentiality Agreement, dated December 28, 2009, by and between Buyer
and the Company, shall remain in full force and effect and survive any termination of this
Agreement.

8.03 Amendment. This Agreement may be amended by the parties at any time by execution of an instrument in
writing signed on behalf of each of the parties, except as may otherwise be restricted by
applicable law.

8.04 Extension; Waiver. At any time prior to either Closing, Buyer and the Shareholders may, to the extent legally
allowed, (a) extend the time for the performance of any of the obligations of the other party, (b)
waive any inaccuracies in the representations and warranties made to such party contained herein or
in any document delivered pursuant hereto, and (c) waive compliance with any of the agreements,
covenants or conditions for the benefit of such party contained herein.

ARTICLE IX. MISCELLANEOUS

9.01 Entire Agreement. This Agreement, the Ancillary Agreements, the Disclosure Schedules and the appendices,
exhibits and schedules attached hereto and thereto, together with that certain Reciprocal
Confidentiality Agreement, dated December 28, 2009, by and between Buyer and the Company, contain
the entire agreement of the Parties hereto with respect to the transactions contemplated hereby,
and supersede all prior understandings and agreements of the Parties with respect to the subject
matter hereof. Any reference herein to this Agreement shall be deemed to include the schedules and
exhibits attached hereto.

9.02 Usage.

(a) In this Agreement, unless a clear contrary intention appears:

(i) reference to the enforceability of an agreement or contract includes the qualification
that such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or
similar laws relating to or affecting generally the enforcement of creditors’ rights and except
as the remedy of specific performance and other equitable relief may be unavailable in certain
cases;

 

44

 

(ii) the singular number includes the plural number and vice versa;

(iii) reference to any person includes such person’s successors and assigns but, if
applicable, only if such successors and assigns are not prohibited by this Agreement, and
reference to a person in a particular capacity excludes such person in any other capacity or
individually;

(iv) reference to any gender includes each other gender;

(v) reference to any agreement, document or instrument means such agreement, document or
instrument as amended or modified and in effect from time to time in accordance with the terms
thereof;

(vi) reference to any federal, state, local, municipal, foreign, international,
multinational, or other constitution, law, ordinance, principal of common law, regulation,
statute or treaty means as amended, modified, codified, replaced or reenacted, in whole or in
part, and in effect from time to time, including rules and regulations promulgated thereunder and
reference to any section or other provision thereof means that section or provision from time to
time in effect and constituting the substantive amendment, modification, codification,
replacement or reenactment of such section or other provision;

(vii) “hereunder”, “hereof”, “hereto” and words of similar import shall be deemed references
to this agreement as a whole and not to any particular Article, Section or other provision
thereof;

(viii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding such term;

(ix) “or” is used in the inclusive sense of “and/or”;

(x) with respect to the determination of any period of time, “from” means “from and
including” and “to” means “to but excluding”; and

(xi) references to documents, instruments or agreements shall be deemed to refer as well to
all addenda, exhibits, schedules or amendments thereto.

(b) Unless otherwise specified herein, all accounting terms used therein shall be interpreted
and all accountings determinations thereunder shall be made in accordance with GAAP.

(c) This Agreement was negotiated by the Parties with the benefit of legal representation and
any rule of construction or interpretation otherwise requiring this Agreement to be construed or
interpreted against any party shall not apply to any construction or interpretation hereof.

9.03 Headings. The descriptive headings in this Agreement are inserted for convenience only and do not
constitute a part of this Agreement.

 

45

 

9.04 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original, and all of which together will constitute one and the same instrument.

9.05 Notices. All notices and other communications hereunder shall be in writing and shall be deemed
given if delivered personally or by commercial delivery service, or mailed by registered or
certified mail (return receipt requested) or sent via facsimile (with confirmation of receipt) to
the parties hereto at the following address (or at such other address for a party as shall be
specified by like notice):

If to Ren or Xiong, addressed to:

Yitao (Tom) Ren and Ying (Lily) Xiong

1776 Yorktown, Suite 435

Houston, Texas 77056

If to Gutierrez, addressed to:

14726 Oak Bend Drive

Houston, TX 77079

If to Dressin, addressed to:

11725 Evergreen Creek Lane

Las Vegas, NV 89135

In the case of any Shareholder, with a copy to, which shall not
constitute notice:

Nance & Simpson, LLP

2603 Augusta, Suite 1000

Houston, Texas 77057

Attention: Glynn D. Nance, Jr., Esq.

Facsimile No.: (713) 520-5109

If to Buyer, addressed to:

SciQuest, Inc.

6501 Weston Parkway, Suite 200

Cary, NC 27513

Attention: Chief Executive Officer

Facsimile No.: (919) 659-2199

 

46

 

With a copy to, which shall not constitute notice:

Morris, Manning & Martin, L.L.P.

3343 Peachtree Road, Suite 1600

Atlanta, GA 30326

Attention: Grant W. Collingsworth, Esq.

Facsimile No.: (404) 365-9532

Any party may change the address to which notices hereunder are to be sent to it by giving
written notice of such change of address in the manner herein provided for giving notice. Any
notice delivered personally shall be deemed to have been given on the date it is so delivered, and
any notice delivered by registered or certified mail shall be deemed to have been given on the date
it is received or refused, if delivery is refused.

9.06 Governing Law. This Agreement shall be governed by and construed in accordance with the domestic laws of
the State of Texas, without giving effect to any choice of law or conflict of law provision or rule
(whether of the State of North Carolina or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of North Carolina. The parties hereto hereby
irrevocably submit to the exclusive jurisdiction of the Federal district court of the United States
of America for the Eastern District of North Carolina, in respect of the interpretation and
enforcement of the provisions of this Agreement and of the documents referred to in this Agreement,
and in respect of the transactions contemplated hereby and thereby and hereby waive, and agree not
to assert, as a defense in any Proceeding for the interpretation or enforcement hereof or thereof,
that it is not subject thereto or that such Proceeding may not be brought or is not maintainable in
said courts or that the venue thereof may not be appropriate or that this Agreement or any such
document may not be enforced in or by such courts, and the parties hereto irrevocably agree that
all claims with respect to such Proceeding shall be heard and determined in such Federal court.
The parties hereby consent to and grant any such court jurisdiction over the person of such parties
and over the subject matter of such dispute and agree that mailing of process or other papers in
connection with any such Proceeding in the manner provided in Section 9.05 or in such other manner
as may be permitted by applicable statutes, rules or regulations, shall be valid and sufficient
service thereof. With respect to any particular Proceeding, venue shall lie solely in Wake County,
North Carolina.

9.07 Relationship of Parties. Nothing in this Agreement shall constitute or be deemed to constitute a partnership between
the Parties or constitute or be deemed to constitute any party hereto as agent of another party
hereto, or its Affiliates, for any purpose whatever, and no party hereto shall have authority or
power to bind any other party, or its Affiliates, or to contract in the name of or create a
liability against any party hereto or its Affiliates, in any way or for any purpose.

9.08 No Assignment; Binding Effect. Neither this Agreement nor any right, interest or obligation hereunder may be assigned (by
operation of law or otherwise) by any party without the prior written consent of the other party
and any attempt to do so will be void. Subject to the preceding sentence, this Agreement is
binding upon, inures to the benefit of and is enforceable by the parties and their respective
successors and assigns.

 

47

 

9.09 Severability. If any provision hereof is declared invalid by a court of competent jurisdiction or to be
in violation of applicable laws such provision shall be ineffective only to the extent of such
invalidity or such violation, so that the remainder of that provision and all remaining provisions
of this Agreement will continue in full force and effect.

9.10 No Third-Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any person other than the
parties hereto and their respective successors and permitted assigns.

9.11
Legal Counsel.  The Parties hereto acknowledge and agree that NANCE & SIMPSON, LLP and Glynn D. Nance,
Jr. (collectively “N&S”) (i) has represented Ren and Xiong, in connection with the negotiation,
execution and delivery of this Agreement and all other agreements contemplated by this Agreement,
(ii) has not represented the Company or any Shareholder (“Other Shareholders”) other than
Ren and Xiong, except that N&S has represented AECsoft USA for the sole purpose of providing the
legal opinion referred to in Section 1.03 of this Agreement, and (iii) in no event shall an
attorney-client relationship be deemed to exist between N&S, on the one hand, and the Other
Shareholders or any of their respective Affiliates.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

48

 

IN WITNESS WHEREOF, the parties hereto here caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	BUYER:

SCIQUEST, INC.

 	 
	 	By:  	/s/ Rudy C. Howard
 	 
	 	 	Name:  	Rudy C. Howard 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	SHAREHOLDERS:

 	 
	 	/s/ Tom (Yitao) Ren
 	 
	 	Tom (Yitao) Ren 	 
	 	 	 
	 	                                      /s/ Ying (Lily) Xiong
 	 
	 	Ying (Lily) Xiong 	 
	 	 	 
	 	                                      /s/ John Paul Gutierrez
 	 
	 	John Paul Gutierrez 	 
	 	 	 
	 	                                      /s/ Ronald Dressin
 	 
	 	Ronald Dressin 	 

 

49

 

EXHIBIT A

DEFINITIONS

The following terms, as used herein, have the following meanings:

“AECsoft Products and Services” means the software products and services developed or
provided by the Company to its customers in the course of operating the Business.

“AECsoft Revenues” means the revenues recognized by Buyer in accordance with GAAP from
the sale and/or license of the AECsoft Products and Services.

“Affiliate” means, with respect to any Person, any Person directly or indirectly
controlling, controlled by, or under common control with such other Person.

“Ancillary Agreements” means, collectively, the Escrow Agreement, the AECsoft USA
Stock Assignment Agreement, the AEC Global Share Transfer Agreement, the Stock Restriction
Agreements and the Intellectual Property Agreement.

“Approval” and “Approvals” means any notice, report, filing, approval,
authorization, consent, license, permit, qualification or registration or application for a new
license permit, qualification or registration, or waiver of any of the foregoing, required to be
obtained from or made with, or any notice, statement or other communication required to be filed
with or delivered to any Governmental or Regulatory Authority or any other Person.

“Business” means the Company’s business of developing, marketing, licensing, selling
and/or distributing supply chain software and providing services related thereto.

“Business Combination” means, with respect to the Company, (i) any merger,
consolidation or other business combination to which the Company is a party, (ii) any sale,
dividend, split or other disposition of any capital stock or other equity interests of the Company,
whether by the Company or the Shareholders, (iii) any tender offer (including a self tender),
exchange offer, recapitalization, restructuring, liquidation, dissolution or similar or
extraordinary transaction, (iv) any sale, dividend or other disposition of all or a substantial
portion of the assets of the Company, including by way of exclusive license or joint venture
formation, or (v) the entering into of any agreement or understanding, the granting of any rights
or options, or the acquiescence of the Company or the Shareholders, with respect to any of the
foregoing.

“Business Day” means a day other than Saturday, Sunday or any day on which banks
located in the State of North Carolina are authorized or obligated to close.

“Cash Escrow Amount” means One Million Two Hundred Seventy-Five Thousand Dollars
($1,275,000).

“Company Proprietary Software” means the Software owned by the Company.

 

 

 

“Company Software” means the Company Proprietary Software and any Third Party Software
that is deployed with, or is otherwise used in conjunction with, the Company Proprietary Software
in order to deliver the Services.

“Competes” means

(i) calling on, soliciting, taking away, accepting as a client or customer or attempting to
call on, solicit, take away or accept as a client or customer any individual, partnership,
corporation or association that was a client or customer of the Company during the twelve
(12)-calendar month period immediately preceding any such act with respect to business that is
substantially similar to the Business; or

(ii) entering into or attempting to enter into any business substantially similar to or
competing in any way with the Business, either alone or with any individual partnership,
corporation or association.

“Confidential Information” means trade secrets and other information related to the
conduct of the Business that is of value to its owner and is treated as confidential, including
business plans, product plans, designs, algorithms, inventions (whether or not patentable), costs,
prices, finances, marketing and advertising plans, software, and information regarding customers,
executives and employees.

“Directly or Indirectly” means:

(i) a Shareholder or any employee, agent or representative of a Shareholder (in connection
with its relationship with such Shareholder) engaging in, or acting as an agent, representative,
consultant, officer, director, independent contractor, or employee of any entity or enterprise
that is engaged in, any activity, business or venture that develops, distributes, sells or
provides products or services that compete with the Business;

(ii) a Shareholderor any employee, agent or representative of a Shareholder (in connection
with its relationship with such Shareholder) participating as an owner, partner, limited partner,
joint venturer, creditor (other than as a trade creditor in the ordinary course of business) or
shareholder (except as a shareholder holding less than a one-percent (1%) interest in a
corporation whose shares are traded on a regional or national securities exchange or in the
over-the-counter market) in any entity or enterprise that is engaged in any activity, business or
venture that develops, distributes, sells or provides products or services that compete with the
Business; or

(iii) communicating confidential information concerning any past, present, or identified
prospective client or customer of the Business to any entity or enterprise that is engaged in any
activity, business or venture that develops, distributes, sells or provides products or services
that compete with the Business.

“Employee Resignation” means the termination of a Shareholder’s employment with an
Employer effected by reason of such Shareholder’s voluntary resignation, which shall not include a
resignation effected by reason of such Shareholder’s (i) death or (ii) mental or physical
disability that renders such Shareholder unable to perform the essential functions of his or her
job for a period of not less than six months, as reasonably determined by Buyer.

 

2

 

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

“ERISA Affiliate” shall refer to any trade or business whether or not incorporated,
under common control with Company or Buyer, as applicable, within the meaning of Section 414(b),
(c), (m), or (o) of the Internal Revenue Code or Sections 4001(a) or (b) of ERISA.

“First Earnout Period” means the period commencing January 1, 2011 and ending on
December 31, 2011.

“First Earnout Target” means an amount equal to $5,000,000.

“For Cause Termination” means a termination of a Shareholder’s employment with an
Employer for one or more of the following reasons:

(i) such Shareholder’s breach of Section 4.06 of this Agreement;

(ii) the conviction of, or the entering of a guilty plea or plea of
no contest with respect to, a felony, the equivalent thereof, or any other
crime with respect to which imprisonment is a possible punishment;

(iii) the commission by such Shareholder of an act of fraud upon
Buyer or any of its Affiliates, the misappropriation (or attempted
misappropriation) of any funds or property of the Buyer or any of its
Affiliates or the material violation or breach of Buyer’s Code of Business
Conduct and Ethics, as may be in effect from time to time; provided that in the
case of a violation or breach of Buyer’s Code of Business Conduct and Ethics
(A) Buyer has delivered to such Shareholder a notice specifying the alleged
failure to perform his or her duties, (B) such Shareholder has been provided at
least 30 days from the date of such notice in which to cure his or her
performance, and (C) such Shareholder has not cure his or her performance
within such 30-day period.; and

(iv) such Shareholder has failed to perform his or her duties to the
standards reasonably required by the Buyer’s Chief Executive Officer, so long
as such duties do not require the Shareholder to violate any applicable laws or
reasonable ethical standards; provided that (A) Buyer has delivered to such
Shareholder a notice specifying the alleged failure to perform his or her
duties, (B) such Shareholder has been provided at least 30 days from the date
of such notice in which to cure his or her performance, and (C) such
Shareholder has not cure his or her performance within such 30-day period.

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

“Governmental or Regulatory Authority” means any court, tribunal, arbitrator,
authority, agency, bureau, board, commission, department, official or other instrumentality of the
United States or any foreign country or any domestic or foreign state, county, city or other
political subdivision.

 

3

 

“Harmful Code” means any program routine, device or other feature, including a virus,
worm, trojan horse, malicious logic or trap door, that is designed to delete, disable, interfere
with, perform unauthorized modifications to, or provide unauthorized access to the Software.

“Intellectual Property” means:

(i) Patents, patent applications, patent disclosures, all re-issues, divisionals,
continuations, renewals, extensions and continuation-in-parts thereof and improvements thereto;

(ii) Trademarks, service marks, trade dress, logos, trade names, and corporate names and
registrations and applications for registration thereof and all goodwill associated therewith;

(iii) Copyrights and registrations and applications for registration thereof;

(iv) All right, title and interest in all Software, data and documentation (including
modifications, enhancements, revisions or versions of or to any of the foregoing);

(v) Trade secrets and confidential business information (including ideas, formulas,
compositions, inventions, whether patentable or unpatentable and whether or not reduced to
practice, know-how, manufacturing and production processes and techniques, research and
development information, drawings, flow charts, processes ideas, methods, specifications,
designs, plans, proposals, technical data, copyrightable works, financial, marketing, and
business data, pricing and cost information, business and marketing plans, and customer and
supplier lists and information);

(vi) Any other proprietary rights recognized by applicable state or Federal law;

(vii) All income, royalties, damages and payments due with respect to Intellectual Property
and all other rights thereunder including damages and payments for past, present or future
infringements or misappropriations thereof, the right to sue and recover for past, present or
future infringements or misappropriations thereof;

(viii) All rights to use all of the foregoing forever; and

(ix) All other rights in, to, and under the foregoing in all countries.

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

“IRS” means the United States Internal Revenue Service or any successor entity.

 

4

 

“Knowledge” means, with respect to the Company, the knowledge of (i) each Shareholder,
(ii) the officers and directors of the Company, and (ii) any employee of the Company who is charged
with responsibility for a particular area of the operations of the Company related to such fact or
other
matter. An individual will be deemed to have “Knowledge” of a particular fact or other matter
if such individual is actually aware of such fact or other matter or, if such individual is an
employee, officer or director of the Company, such individual should be aware of such fact or other
matter in the reasonable performance of his or her duties.

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset.

“Material Adverse Change” and “Material Adverse Effect” mean a material
adverse change or effect, respectively, in the business, assets, condition (financial or
otherwise), or results of operations or prospects of the Business, taken as a whole.

“Net Asset Value” shall mean the total assets of AEC Global less all Liabilities of
AEC Global, each as reflected on the AEC Global Balance Sheet.

“Parties” means Buyer and the Shareholders.

“PBGC” means the Pension Benefit Guaranty Corporation established under ERISA.

“Person” means an individual, corporation, partnership, association, limited liability
company, trust or other entity or organization, including a government or political subdivision or
an agency or instrumentality thereof.

“Plan” means (i) each of the “employee benefit plans” (as such term is defined in
Section 3(3) of ERISA), of which Company or any ERISA Affiliate is or ever was a sponsor or
participating employer or as to which Company or any of its ERISA Affiliates makes contributions or
ever has been required to make contributions, and (ii) any employment, severance or other
arrangement or policy of any of Company or any of its ERISA Affiliates (whether written or oral)
providing for health, life, vision or dental insurance coverage (including self-insured
arrangements), workers’ compensation, disability benefits, supplemental unemployment benefits,
vacation benefits, fringe benefits, or for profit sharing, deferred compensation, bonuses, stock
options, stock appreciation rights, incentive compensation or post-retirement insurance,
compensation or benefits, or any nonqualified deferred compensation plan (as defined in Sections
409A(d)(1) or 3121(v)(2)(C) of the Internal Revenue Code), or any specified fringe benefit plan (as
defined in Section 6039D(d)(1) of the Internal Revenue Code).

“Publicly Available” means:

(i) any software that contains, or is derived in any manner (in whole or in part) from, any
software that is distributed as free software, open source software (e.g. Linux) or similar
licensing or distribution models;

(ii) any software that requires as a condition of use, modification and/or distribution
that such software or other software incorporated into, derived from or distributed with such
software: (A) be disclosed or distributed in source code form; (B) be licensed for the purpose
of making derivative works; or (C) be redistributable at no charge; and

 

5

 

(iii) software licensed or distributed under any of the following licenses or distribution
models, or licenses or distribution models similar to any of the following: (a) GNU’s General
Public License (GPL) or Lesser/Library GPL (LGPL); (b) the Artistic License (e.g., PERL); (c)
the Mozilla Public License; (d) the Netscape Public License; (e) the Sun Community Source
License (SCSL); (f) the Sun Industry Source License (SISL); and (g) the Apache Software License.

“Registrations” means registrations of patents, copyrights, trademarks, service marks,
trade names and domain names related to the Intellectual Property.

“Restricted Period” means (i) with respect to Ren, Xiong and Gutierrez, the period
commencing on the AECsoft USA Closing Date and ending on the fifth anniversary of the date thereof
and (ii) with respect to Dressin, the period commencing on the AECsoft USA Closing Date and ending
on the third anniversary of the date thereof.

“Second Earnout Period” means the period commencing January 1, 2012 and ending on
December 31, 2012.

“Second Earnout Target” means $6,000,000.

“Share Consideration” means the shares of Buyer Common Stock issuable to the
Shareholders pursuant to this Agreement.

“Share Escrow Amount” means 103,659 shares of Buyer Common Stock.

“Software” means any computer program, operating system, applications system, firmware
or software of an nature, whether operational, under development or inactive, including all object
code, source code, data files, rules, definitions or methodology derived from the foregoing and any
derivations, updates, enhancements and customization of any of the foregoing, processes, know-how,
operating procedures, methods and all other intellectual property embodied with the foregoing,
technical manuals, user manuals and other documentation thereof, whether in machine-readable
form, programming language or any other language or symbols and whether stored, encoded, recorded
or written on disk, tape, film, memory device, paper or other media of any nature.

“Subsidiary” means, with respect to any entity, whether incorporated or
unincorporated, of which (i) such party or any other subsidiary of such entity is a general partner
(excluding such partnerships where such party or any subsidiary of such party does not have a
majority of the voting interest in such partnership) or (ii) at least a majority of the securities
or other interests having by their terms ordinary voting power to elect a majority of the board of
directors or others performing similar functions with respect to such corporation or other
organization is directly or indirectly owned or controlled by such entity or by any one or more of
its subsidiaries.

“Tax” or “Taxes” means any taxes of any kind, including but not limited to
those on or measured by or referred to as income, gross receipts, capital, sales, use, ad valorem,
franchise, profits, license, withholding, employment, payroll, premium, value added, property or
windfall profits taxes, environmental transfer taxes, customs, duties or similar fees, assessments
or charges of any kind whatsoever, together with any interest and any penalties, additions to tax
or additional amounts imposed by any Taxing Authority.

 

6

 

“Taxing Authority” means any governmental agency, board, bureau, body, department or
authority of any United States federal, state or local jurisdiction or any foreign jurisdiction,
having jurisdiction with respect to any Tax.

“Tax Return” means any return, declaration, report, statement or information return
required to be filed with any governmental authority with respect to Taxes.

“Territory” means each of the following countries: United States of America,
Australia, Brunei, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand Philippines,
Singapore, Thailand, People’s Republic of China (including Hong Kong and Macau), Republic of China
(a/k/a Taiwan) and Papua New Guinea.

“Third Earnout Period” means the period commencing January 1, 2013 and ending on
December 31, 2013.

“Third Earnout Target” means $7,200,000.

“Third Party Software” means all Software owned by third parties that is either (i)
licensed, offered or provided to customers of the Company as part of the Services or (ii) otherwise
used by the Company in the conduct of the Business.

The following terms are defined in the following Sections:

	 	 	 
	Agreement	 	Section
	409A Liability
	 	2.20(f)
	AEC Global
	 	Recitals
	AEC Global Closing Balance Sheet
	 	1.05(b)
	AEC Global Capital Stock
	 	2.08(a)
	AEC Global Closing
	 	1.04
	AEC Global Closing Date
	 	1.04
	AEC Global Purchase Price
	 	1.02(b)
	AEC Global Share Transfer Agreement
	 	1.04(d)
	AEC Global Shares
	 	Recitals
	AECsoft USA
	 	Recitals
	AECsoft USA Cash Consideration
	 	1.02(a)(i)
	AECsoft USA Closing
	 	1.03
	AECsoft USA Closing Balance Sheet
	 	1.05(a)
	AECsoft USA Closing Date
	 	1.03
	AECsoft USA Common Stock
	 	2.08(a)
	AECsoft USA Purchase Price
	 	1.02(a)
	AECsoft USA Shares
	 	Recitals
	AECsoft USA Stock Assignment Agreement
	 	1.03(h)
	Agreement
	 	Recitals
	Balance Sheet Objection Notice
	 	1.05(c)
	Basket Amount
	 	7.02(b)(ii)

 

7

 

	 	 	 
	Agreement	 	Section
	bundling
	 	1.02(c)(ii)
	Buyer
	 	Recitals
	Buyer Common Stock
	 	1.02(a)(ii)
	Buyer Indemnified Parties
	 	7.02(a)
	Cash Overage
	 	1.05(d)
	Cash Shortfall
	 	1.05(d)
	Closing
	 	1.04
	Closing Date
	 	1.04
	COBRA
	 	2.20(b)
	Company
	 	Recitals
	Company and its Representatives
	 	4.07
	Consolidated Group
	 	2.21(a)
	Convertible Securities
	 	2.08(e)
	Customer Contracts
	 	2.06(a)(i)
	Disclosure Schedules
	 	Article II
	Disputes Auditor
	 	1.02(c)(i)
	Dressin
	 	Recitals
	Earnout Payment
	 	1.02(a)(iv)
	Earnout Period
	 	1.02(a)(iv)
	Earnout Report
	 	1.02(c)(i)
	Employer
	 	1.02(c)(a)(v)
	Escrow Agent
	 	1.03(a)
	Escrow Agreement
	 	1.03(a)
	Escrow Amount
	 	1.02(a)(iii)
	Escrow Fund
	 	7.04
	Excess Transaction Expenses
	 	7.02(a)(iii)
	Financial Statements
	 	2.09(a)
	Fundamental Representations
	 	7.01
	Fundamental Representations Cap
	 	7.02(b)(ii)
	Gutierrez
	 	Recitals
	HIPAA
	 	2.20(b)
	Indemnifiable Damages
	 	7.02(a)
	Indemnified Party
	 	7.05(a)
	Indemnifying Party
	 	7.05(a)
	Intellectual Property Agreement
	 	1.03(j)
	Interim Financial Statements
	 	2.09(a)
	Liability and Liabilities
	 	2.10
	Litigation Conditions
	 	7.05(b)
	Material Contract
	 	2.06(a)
	Objection Notice
	 	1.02(c)(i)
	Other Shareholders
	 	9.11
	Outside Closing Date
	 	8.01(a)(iii)
	Permitted Liens
	 	2.13
	Pre-Closing Tax Period
	 	5.06(a)
	Purchase Price
	 	1.02(b)

 

8

 

	 	 	 
	Agreement	 	Section
	Real Estate
	 	2.12(a)
	Receivables
	 	2.23
	Recipients
	 	2.20(h)
	Ren
	 	Recitals
	Required Consents
	 	2.07(b)
	Rule 144
	 	5.07
	SEC Filings
	 	3.06
	Securities Act
	 	2.29
	Shareholders
	 	Recitals
	Shareholder Indemnified Parties
	 	7.03(a)
	Shareholders Agent
	 	7.06(a)
	Shares
	 	Recitals
	Straddle Period
	 	5.06(a)
	Stock Restriction Agreement
	 	1.03(i)
	Third Party Claim
	 	7.05(b)
	Transaction Expenses
	 	5.04
	Transaction Expenses Certificate
	 	1.03(d)
	Xiong
	 	Recitals
	Year-End Financial Statements
	 	2.09(a)

 

9exv10wcc

Exhibit 10cc

EXECUTION COPY

FIFTH AMENDMENT

Dated as of September 30, 2010

to

TRANSFER AND ADMINISTRATION AGREEMENT

Dated as of December 8, 2008

     This FIFTH AMENDMENT (this “Amendment”), dated as of September 30, 2010, is entered
into among GREIF PACKAGING LLC, a Delaware limited liability company (“Greif”), GREIF
RECEIVABLES FUNDING LLC, a Delaware limited liability company (the “SPV”), the Investors,
Managing Agents and Administrators party hereto, and BANK OF AMERICA, N.A., as Agent (the
“Agent”).

RECITALS

     WHEREAS, the parties hereto have entered into that certain Transfer and Administration
Agreement dated as of December 8, 2008 (the “Transfer and Administration Agreement”);

     WHEREAS, the parties hereto desire to amend the Transfer and Administration Agreement as
provided herein;

     NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein
and in the Transfer and Administration Agreement, the parties hereto agree as follows:

     SECTION 1. Definitions. All capitalized terms not otherwise defined herein are used
as defined in the Transfer and Administration Agreement.

     SECTION 2. Amendments to Transfer and Administration Agreement. The Transfer and
Administration Agreement is hereby amended as follows:

     2.1. Section 1.1 of the Transfer and Administration Agreement is hereby amended and
restated by inserting the following new definitions in their proper alphabetical order:

““External Rating” is defined in Section 6.1(s).”

““Implied Rating” is defined in Section 6.1(s).”

““Out-of-Program Collections” is defined in Section 6.2(f).”

““SFA” means the formula designated in BASEL II (or any law or regulation
that may supplement, amend, restate or replace BASEL II in part or in whole) as the
“Supervisory Formula Approach” for determining a bank’s risk-based capital
requirement for securitization transactions.”

1

 

““SFA Event” shall be deemed to have occurred if the Agent, at any time in
its sole discretion, to be exercised reasonably, determines that it cannot, for any
reason, use the SFA to calculate Bank of America’s regulatory capital requirement in
respect of the facility contemplated under the Transaction Documents.”

     2.2. The definition of “Agricultural Receivable Eligible Obligor” in Section 1.1 of
the Transfer and Administration Agreement is hereby amended to delete “Administrative Agent” and
replace it with “Agent”.

     2.3. The definition of “Commitment Termination Date” in Section 1.1 of the Transfer
and Administration Agreement is hereby amended and restated in its entirety as follows:

     ““Commitment Termination Date” means September 29, 2011, or such later date to
which the Commitment Termination Date may be extended by the SPV, the Agent and the
Committed Investors (each in their sole discretion).”

     2.4. Clause (a) in the definition of “Concentration Limits” in Section 1.1 of
the Transfer and Administration Agreement is hereby amended and restated in its entirety as
follows:

     “(a) the aggregate Unpaid Balance of all Receivables relating to a single Obligor
(together with its subsidiaries and Affiliates) exceeds (i) 2.40% of the Aggregate Unpaid
Balance at such time or (ii) if higher, the percentage of the Aggregate Unpaid Balance
specified below, contingent upon the Obigor’s public unsecured debt rating.

	 	 	 	 	 
	Obligor's Public Unsecured Long-Term Debt Rating (S&P/Moody's)1	 	Concentration Limit	 
	A/A2 or better
	 	 	12.0	%
	A-/A3 to BBB/Baa2
	 	 	6.00	%
	BBB-/Baa3
	 	 	4.00	%
	Not rated or lower than BBB-/Baa3
	 	 	2.4	%

     2.5. The definition of “Dilution Horizon Ratio” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

     ““Dilution Horizon Ratio” means, for any Calculation Period, the greater of (a)
100% and (b) the ratio (expressed as a percentage) computed as of the most recent Month End
Date by dividing (i) the aggregate initial Unpaid Balance of sales by the Originators

 

			
	1	 	The rating of an Obligor will be the lower of
any public unsecured debt rating of such Obligor as issued by either S&P or
Moody’s. If such Obligor has only one rating from either S&P or Moody’s, that
rating shall be used.

2

 

giving rise to Receivables during the calendar month by (ii) the Aggregate Unpaid Balance
as of such Month End Date.”

     2.6. Clause (b) in the definition of “Eligible Obligor” in Section 1.1 of the
Transfer and Administration Agreement is hereby amended to delete “originators” and replace it with
“Originators”.

     2.7. Clause (b)(iii) in the definition of “Eligible Receivable” in Section 1.1
of the Transfer and Administration Agreement is hereby amended to delete “Administrative Agent” and
replace it with “Agent”.

     2.8. The definition of “Loss Horizon Ratio” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

     ““Loss Horizon Ratio” means, for any Calculation Period, the quotient,
expressed as a percentage, of (a) the aggregate initial Unpaid Balance of Eligible
Receivables which arose during the period ending on the most recent Month End Date and the
three immediately preceding Calculation Periods, divided by (b) the Aggregate Unpaid
Balance as of the most recent Month End Date.”

     2.9. The definition of “Maturity Date” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

     ““Maturity Date” means the fifth anniversary of the Closing Date unless
otherwise extended with the consent of each Managing Agent; provided that the “Maturity
Date” shall be extended beyond the fifth anniversary of the Closing Date to such later date
as the Commitment Termination Date is extended by the SPV, the Agent and the Committed
Investors as provided in such definition.”

     2.10. The definition of “Minimum Percentage” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

     ““Minimum Percentage” means, for any Calculation Period, the sum, expressed as
a percentage, of (a) 0.12 plus (b) the product of (i) the Expected Dilution Ratio
and (ii) the Dilution Horizon Ratio.”

     2.11. Clause (a) of the definition of “Servicing Fee Reserve” in Section 1.1
of the Transfer and Administration Agreement is hereby amended to delete “plus” and replace
it with “times”.

     2.12. The definition of “Termination Date” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

3

 

     ““Termination Date” means the earliest of (a) the Business Day designated by
the SPV to the Agent and the Managing Agents as the Termination Date at any time following
not less than five (5) days’ written notice to the Agent and the Managing Agents, (b) the
day upon which the Termination Date is declared or automatically occurs
pursuant to Section 8.2, (c) the Commitment Termination Date and (d) the Maturity
Date.”

     2.13. The definition of “Yield Reserve” in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety as follows:

          ““Yield Reserve” means, as of any date of determination, an amount equal to (a) the
product of (i) 1.5 times (ii) the Days Sales Outstanding in effect on such date
times (iii) the sum of the Base Rate in effect on such date (as determined by the Agent)
plus 2%, divided by (b) 360, multiplied by (c) the Net Pool Balance on such
date.”

     2.14. Section 3.3 of the Transfer and Administration Agreement is hereby amended to
delete the first two sentences thereof.

     2.15. The following new Section 6.1(s) is hereby added to the Transfer and
Administration Agreement:

     “(s) Ratings Confirmation. Following the occurrence of an SFA Event and at the
written request of the Agent, the Servicer shall (at its own expense) obtain a rating, in
form satisfactory to the Agent, of the facility contemplated by this Agreement (the
“External Rating”) from a nationally-recognized rating agency or rating agencies
reasonably acceptable to the Agent within sixty (60) days from the date of such written
request, such External Rating to be at least equal to A (or its equivalent) (the
“Implied Rating”).”

     2.16. Section 6.2(f) of the Transfer and Administrative Agreement is hereby amended
and restated in its entirety as follows:

     “(f) Deposits to Blocked Accounts. Neither the SPV nor the Servicer shall
deposit or otherwise credit, or cause or permit to be so deposited or credited, to any
Blocked Account or the Collection Account cash or cash proceeds other than Collections.
Notwithstanding the immediately preceding sentence, the SPV and Servicer may deposit or
otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account
cash or cash proceeds other than Collections (“Out-of-Program Collections”) to the
extent such deposits or credits (i) relate to certain intercompany receivables or other
receivables not originated by an Originator which have been disclosed to the Agent, or (ii)
are made by error or mistake, provided that (A) the SPV shall take such
actions as are necessary to ensure all intercompany receivables cease paying into a Blocked
Account by November 14, 2010, (B) the SPV shall use reasonable commercial efforts to
instruct the obligors of receivables not originated by an Originator as soon as reasonably
possible and in any event by November 14, 2010, to cease paying Out-of-Program Collections
into a Blocked Account and in lieu thereof to pay Out-of-Program Collections to an account
other than a Blocked Account, (C) take such other reasonable commercial actions as the

4

 

Agent may request to redirect all Out-of-Program Collections, and (D) all Out-of-Program
Collections submitted to any Blocked Account shall be identifiable to the satisfaction of
the Adminisitrative Agent in its reasonable discretion. If any Out-of-Program Collections
are deposited or credited to any Blocked Account, the SPV shall
transfer such Out-of-Program Collections to an account of the SPV or an Originator
other than the Blocked Accounts, or shall cause such Out-of-Program Collections to be so
transferred, promptly and in any event by November 14, 2010 or, if deposited or credited to
any Blocked Account on or after November 14, 2010, within two (2) Business Days of such
deposit or credit thereof to the applicable Blocked Account. The Agent and the other
Secured Parties acknowledge they shall have no right, title or interest in any such
Out-of-Program Collections.”

     2.17. Section 8.1(c) of the Transfer and Administration Agreement is hereby amended
and restated in its entirety as follows:

     “the SPV or any Originator (i) shall fail to perform or observe in any material respect
any other term, covenant or agreement contained in this Agreement on its part to be
performed or observed and any such failure remains unremedied for 10 days or (ii) shall fail
to perform a covenant listed in Section 6.1(a)(iv) or Section 6.1(s) and such failure
remains unremedied for 30 days after written notice thereof has been given to the SPV or any
Originator by the Agent; or”

     2.18. Schedule 4.1(s) of the Transfer and Administration Agreement is hereby amended
to delete the following two Blocked Accounts and their corresponding lockboxes:

     “JPM Morgan, Acct # 323414842, LBX # 88911, ABA # 021000021” and

     “JPM Morgan, Acct # 323414850, LBX # 88908, ABA # 021000021.”

     SECTION 3. Conditions Precedent. Section 2 hereof shall become effective on
the date first written above upon receipt by the Agent (and each Managing Agent, upon its request)
of: (a) a counterpart (or counterparts) of this Amendment, duly executed by each of the parties
hereto, or other evidence satisfactory to the Agent of the execution and delivery of this Amendment
by such parties, (b) a counterpart (or counterparts) of the Fee Letter, duly executed by each of
the parties thereto, together with payment of the “renewal fee” as referred to therein, and (c)
receipt of payment within thirty (30) days of the date hereof by Mayer Brown LLP, counsel to the
Agent, of its reasonable legal fees in connection herewith.

     SECTION 4. Miscellaneous.

     4.1. Representations and Warranties. The SPV hereby represents and warrants that (i)
this Amendment constitutes a legal, valid and binding obligation of the SPV, enforceable against it
in accordance with its terms and (ii) upon the effectiveness of this Amendment, no Termination
Event or Potential Termination Event shall exist.

     4.2. References to Transfer and Administration Agreement. Upon the effectiveness of
this Amendment, each reference in the Transfer and Administration Agreement to “this Agreement”,
“hereunder”, “hereof”, “herein”, or words of like import shall mean and be a

5

 

reference to the Transfer and Administration Agreement as amended hereby, and each reference to the Transfer and
Administration Agreement in any other document, instrument or agreement executed and/or delivered
in connection with the Transfer and Administration Agreement shall mean and be a reference to the
Transfer and Administration Agreement as amended hereby.

     4.3. Effect on Transfer and Administration Agreement. Except as specifically amended
above, the Transfer and Administration Agreement and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in full force and effect
and are hereby ratified and confirmed.

     4.4. No Waiver. The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of any Agent or any Investor under the Transfer
and Administration Agreement or any other document, instrument or agreement executed in connection
therewith, nor constitute a waiver of any provision contained therein, except as specifically set
forth herein.

     4.5. Governing Law. This Amendment, including the rights and duties of the parties
hereto, shall be governed by, and construed in accordance with, the internal laws of the State of
New York.

     4.6. Successors and Assigns. This Amendment shall be binding upon and shall inure to
the benefit of the parties hereto and their respective successors and assigns.

     4.7. Headings. The Section headings in this Amendment are inserted for convenience of
reference only and shall not affect the meaning or interpretation of this Amendment or any
provision hereof.

     4.8. Counterparts. This Amendment may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which shall constitute
together but one and the same agreement.

[SIGNATURES FOLLOW]

6

 

     IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	GREIF RECEIVABLES FUNDING LLC,

as SPV

 	 
	 	By:  	/s/ John K. Dieker
 	 
	 	 	Name:  	John K. Dieker 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 
	 	GREIF PACKAGING LLC,

individually, as an Originator and as the Servicer

 	 
	 	By:  	/s/ John K. Dieker
 	 
	 	 	Name:  	John K. Dieker 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

Signature Page to the Fifth Amendment

 

 

	 	 	 	 	 
	 	BANK OF AMERICA,

NATIONAL ASSOCIATION,

as Agent and as Managing Agent, Administrator

and Committed Investor for the Bank of America

Investor Group

 	 
	 	By:  	/s/
Nina Austin
 	 
	 	 	Name:  	Nina Austin 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to the Fifth Amendment

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