Document:

Exhibit 10.1

 

SD HOLDINGS LTD.

 

-and -

 

GBS Enterprises Incorporated

 

 

  

PURCHASE AGREEMENT

 

respecting

 

IntelliView Product line and Business

 

FewCiix Product Line and Business Receivables

 

from Synaptris Inc.and Kezava Inc. Payables
to

 

GBS India.

 

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	INTERPRETATION 	1
	 	 	1.1   Defined Tern1s	1
	 	 	1.2   Schedules	3
	 	 	1.3   Currency	3
	 	 	1.4   Payments	3
	 	 	1.5   Choice of Law and Attorney	4
	 	 	1.6   Interpretation Not Affected by Headings or Party Drafting 	4
	 	 	1.7   Nun1ber and Gender 	4
	 	 	1.8   Time of Essence 	4
	2	PURCHASE OF, SEPARATION OF AND REPURCHASE OF ASSETS	5
	 	 	2.1   Purchased Assets	5
	 	 	2.2   Excluded Assets	6
	 	 	2.3   Assumed Liabilities	6
	 	 	2.4   Retained Liabilities and Indemnity	6
	3	PURCHASE AND REPURCHASE PRICE AND PAYMENT	7
	 	 	3.1   Purchase Price	7
	 	 	3.2   Payment of Purchase Price	7
	 	 	3.3   Prepaid Expenses and Adjustments	7
	4	CONDITIONS PRECEDENT	7
	5	REPRESENTATIONS AND WARRANTIES	8
	 	 	5.1   Representations and Warranties	8
	 	 	5.2   Disclaimer Respecting Seller's Representations and Wa1Tanties	10
	 	 	5.3   Representations and Warranties by the Purchaser 	10
	 	 	5.4   Survival of Warranties by Purchaser 	11
	6	COVENANTS AND ADDITIONAL TERMS 	11
	 	 	6.1   Confidential Information	11
	 	 	6.2   Interim Period 	12
	 	 	6.3   Covenants by the Seller	13
	 	 	6.4   Announcements	13
	 	 	6.5   Survival of Covenants	14
	7	CLOSING 	14
	 	 	7.1   Closing Arrangements 	14
	8	GENERAL CONTRACT TERMS 	14
	 	 	8.1   Further Assurances	14
	 	 	8.2   Remedies Cumulative 	14
	 	 	8.3   Notices 	14
	 	 	8.4   Expenses of Parties 	15
	 	 	8.5   Assignment	15
	 	 	8.6   Successors and Assigns	15
	 	 	8.7   Entire Agreement 	15
	 	 	8.8   Waiver	16
	 	 	8.9   Amendments	16
	 	 	8.10  Counterparts	16
	 	 	8.11  Fax and E-Mail Execution	16

 

    	 

    	 

    
 

PURCHASE AGREEMENT

 

Made as of the 6111
day of June 2012

 

Between

 GBS ENTERPRISES INC.

a corporation incorporated under the laws
of Nevada, USA

(the "Purchaser")

OF THE FIRST PART

and

 SD Holdings Ltd,

a corporation incorporated under the laws
of Mauritius

(the "Seller"),

OF THE SECOND PART

witnesses that,

WHEREAS:

 

The Seller restructures his
operations; and therefore the Seller wishes to sell and the Purchaser to purchase the certain assets on or before the Closing Day,
effective as of the "Effective Day", as described herein.

 

THEREFORE:

 

In consideration of the premises and the
mutual agreements and covenants hereinn contained, the parties hereto hereby covenant and agree as follows:

 

1           INTERPRETATION

 

		1.1	Defined Terms.

(a)         
In this agreement and in the schedules hereto, unless there is something in the subject matter or context inconsistent therewith,
the following terms and expressions will have the following meanings:

 

		(1)	"Assumed Contracts" means the Customer Contracts, Other Contracts, the
                                                                                                         Licensed IP Agreements for the Business;

 

		(2)	"Assumed Employees" means the employees of the Business;

 

		(3)	"Assumed Liabilities" means the liabilities of the Purchaser which are to be assumed by the Seller pursuant
to section 2.3 hereof;

 

		(4)	"Business" means the business carried on by the SO Holdings division of the Purchaser which comprises the
development, marketing, distribution and licensing of the IBM Lotus Notes/Domino business and any related consulting and training,
in particular but not limited to the Intelli Print and FewClix product lines;

 

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		(5)	"Business Restructuring"" means the separation of any data, documentation, website, domain, or any other
related information to the FewClix products, the IntelliPrint product line, the related employees, receivables, the lease for
the Synaptris Decision Ptv Ltd premises in Chennai, all related business and all related assets from the Business; .

 

		(6)	"Business Day" means any day other than a day which is a Saturday, a Sunday or a public holiday in the City
of New York, NY, USA;

 

		(7)	"Business Records" means the books, records, files and documents relating to the operation of the Business
and the ownership of the other assets transferred hereunder, including without limitation, sales and purchase records, lists of
suppliers, credit information, cost and pricing information, business reports, plans and projections and all other correspondence,
data and information, financial or otherwise, in any format and media whatsoever related thereto; but specifically excluding
therefrom the corporate and financial records of the Purchaser and those records related to any assets not transferred hereunder.

 

		(8)	"Closing" means the completion of the purchase, repurchase and sale transactions as provided by this agreement;

 

		(9)	"Closing Day" means July 1, 2012, or such other date as the Seller and Purchaser, directly or by their legal
counsel, agree in writing;

 

		(10)	"Closing Time" means the time at which
the parties through their legal counsel agree to attend to the Closing;

 

		(II)	"Condition" of the Business means the
condition of the assets, liabilities, operations, activities, earnings, prospects, affairs or financial position of the Business
as of June 26, 2012;

 

		(12)	"Conditions Precedent" means the Closing
will not occur prior to the completion of the events described in Section 4 hereof;;

 

		(13)	"Effective Day" means July 1st , 2012;

 

		(14)	"Encumbrances" means mortgages, charges,
pledges, security interests, liens, encumbrances, actions, claims, demands and equities of any nature whatsoever or howsoever
arising and any rights or privileges capable of becoming any of the foregoing;

 

		(15)	"Interim Period" is the time from execution of this agreement until the Closing Time.

 

		(16)	"Payment" means any wire transfers from
the Purchaser, or from an affiliated party to the Purchaser, to the Seller, or to an affiliated party to the Seller;

 

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		(17)	"Person" means and includes any i individual, corporation, partnership, firm, joint venture, syndicate, association,
trust, government, governmental agency or board or commission or authority. and any other form of entity or organization;

 

		(18)	"Prepaid Expenses" means prepaid contracts and rights relating exclusively to the Business, including and
not limited to rent and deposits for utilities, and employee advances.

 

		(19)	"Purchase Price" means the amount payable by the Purchaser to the Seller for all of the Purchased Assets,
as provided in Section 3. 1 hereof;

 

		(20)	"Purchased Assets" means the IntelliPrint and FewCii x computer software application for Lotus Notes and any
other computer software based on the lntelliPrint product, including all past and current versions and all versions in development,
and including all source code, progran1 code and documentation in any format related thereto, and all patent rights, copyrights,
and other proprietary rights therein. As well as all receivables to be paid by Synaptris Incorporated and Keezava Incorporated
to the Seller.

 

		(21)	"Warranty Claim" means a claim made by either the Seller or the Purchaser based on or with respect to the
inaccuracy or nun-performance or non-fulfillment or breach of any representation or warranty made by the other party contained
in this agreement or contained in any document or certificate given in order to carry out the transactions contemplated hereby;
and

 

		(22)	"Work-in-progress" means the work-in-progress of the Business.

 

(b)          Any reference herein to "the
best of the knowledge" of the Purchaser will mean the actual knowledge of the Purchaser's representative, Ronald R. Durban,
a director of the Purchaser, and the knowledge which he would have had if he had conducted a diligent inquiry into the relevant
subject matter.

 

		1.2	Schedules

The schedules which are attached to this agreement are incorporated into this agreement by reference and are deemed to be part hereof

 

		1.3	Currency

Unless otherwise stated,
all dollar amounts referred to in this agreement are in United States dollars.

 

		1.4	Payments.

All payments shall be made by bank wire
transfer in immediately available funds.

 

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		1.5	Choice of Law and Attorney.

Each Party irrevocably y submits to
the exclusive jurisdiction of (i) the state courts of the State of New York, NY, USA and (ii) the United States District
Court for the District of Manhattan for the purposes of any suit, action or other proceeding arising out of or relating to
this Agreement, any other Transaction Document or any transaction contemplated hereby or thereby. Each Party agrees to
commence any action, suit or proceeding relating hereto only in either such court. Each Party irrevocably y and
unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement
or the transactions contemplated hereby in (A) the state court of the State of New York, NY, USA, or (B) the United States
District Court for the District of Manhattan, and hereby further irrevocably and unconditionally waives and agrees not to
plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an
inconvenient forum. Each Party further irrevocably consents to the service of process out of any of the aforementioned courts
in any such suit, action or other proceeding by the mailing of copies thereof by mail to such Party at its address set fo1th
in this Agreement, such service of process to be effective upon acknowledgment of receipt of such registered mail ; provided
that nothing in this Section 1 .5 shall affect the right of any Party to serve legal process in any other manner permitted by
Law. The consent to jurisdiction set forth in this Section 1.5 shall not constitute a general consent to service of process
in the State of New York and shall have no effect for any purpose except as provided in this Section 1.5. The Parties agree
that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Law.

 

		1.6	Interpretation Not Affected by Headings or Party Drafting

The
division of this agreement into articles, sections, paragraphs, subparagraphs and clauses and the insertion of headings are for
convenience of reference only and shall not affect the construction or interpretation of this agreement.The terms "this
agreement" , " hereof ' , " herein" , "hereunder" and similar expressions
refer to this agreement and the schedules hereto and not to any particular article, section, paragraph, subparagraph, clause or
other portion hereof and include any agreement or instrument supplementary or ancillary hereto. Each party hereto acknowledges
that it and its legal counsel have reviewed and participated in settling the terms of this agreement, and the parties here by agree
that any rule of construction to the effect that any ambiguity i s to be resolved against the drafting party shall not be applicable
in the interpretation of this agreement.

 

		1.7	Number and Gender

In this agreement,
unless there is something in the subject matter or context inconsistent therewith words in the singular number include the plural
and words in the plural include the singular; and words importing the use of any gender shall include all genders; and the rest
of the sentence shall be construed as if the necessary grammatical and terminological changes had been made.

 

		1.8	Time of Essence

Time shall be of the
essence hereof.

 

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		2	PURCHASE OF, SEPARATION OF AND REPURCHASE OF ASSETS

 

		2.1	Purchased Assets

On and subject to the
terms contained herein, the Purchaser hereby agrees to sell and the Seller hereby agrees to purchase from the Purchaser, the Purchased
Assets of the Business as a going concern, at the "Effective Day" comprising the followingng:

 

		(1)	all assets of SD Holdings IntelliPRINT and FewClix businesses, including all liabilities, all IP
rights to products, if owned by SD Holdings or any subsidiary, comprising but not limited to all copyright and all associated all
related code, specifications, documentation, revisions, enhancements and modifications thereto, in whatever form and media;

 

		(2)	all of the trademarks regarding these businesses owned by SD Holdings or its subsidiaries;

 

		(3)	the benefit of Customer Contracts, subject to assumption of the obligation of performance thereunder
by the Seller;

 

		(4)	the benefit of the Other Contracts, subject to assumption of the obligation of performance thereunder
by the Seller;

 

		(5)	the benefit of Licensed IP Agreements, subject to assumption of the obligation of performance thereunder
by the Seller;

 

		(6)	the Work-in-progress;

 

		(7)	all inventory of consumable supplies of the Business
as of the Closing Time;
	 	 	 
	 	(8) 	  the benefit of the Prepaid Expenses; 

 

		(9)	the Equipment;

 

		(10)	the Business Records;

 

		(11)	all marketing and advertising materials relating to the
Business, in any format and media whatsoever, and the right, title and interest of the Purchaser in the content thereof;

 

		(12)	the telephone numbers of the Business

 

		(13)	the internet domain names related to the business; and all web sites utilizing such domain names,
including the right of the Seller in all programs and source code utilized therein, subject to all licenses of content therein.

 

		(14)	The receivables from royalty fees to the IntelliVIEW and NXT
product lines to be paid by Keezava, Inc. in the amount of $348,000 as described in Exhibit A.

 

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		(15)	The receivables from Earn Out to be paid by Synaptris,
Inc. in the amount of $700,000 as described in Exhibit B.

 

		2.2	Excluded Assets

Specifically excluded from the Purchased Assets are:

 

		(I)	All others

 

		2.3	Assumed Liabilities

(a)          The Purchaser shall assume and will
pay, perform, discharge and satisfy the following liabilities of the Purchaser relating to the Business (the " Assumed
Liabilities"):

 

(1)         all
liabilities and obligations of the Seller accruing on and after the Closing Date for future performance under the Assumed Contracts;

 

		(2)	commissions due to the employees of the Business in the normal course with respect to orders received
and not invoiced by the Closing Date, and commissions due to the employees for invoices for maintenance invoiced prior to closing
with a maintenance term beginning on or after October I , 20 II ; and

 

		(3)	any other liability or obligation provided elsewhere in lhis agreement to be assumed or performed
by the Seller.

 

		(4)	The payables to GBS India Ptv. Ltd. in the amount of $772,794.00

 

(b)          Without expanding
on the specificity of the foregoing, Assumed Liabilities shall not include:

 

		(I)	any liabilities in respect of all indebtedness of the
Purchaser to all persons except as otherwise specifically y provided in this agreement;

 

		(2)	any liability claims relating to any product or service of the Business produced, sold, performed
or delivered prior to the Closing Date;

 

		(3)	any liabilities for all taxes, duties, levies, assessments and other such charges, including any
penalties, interests and fines with respect thereto, payable by the Purchaser to any federal, provincial, municipal or other government
or governmental agency, authority, board, bureau or commission; domestic or foreign;

 

		(4)	liabilities for employment compensation and reimbursement of expenses as provided by subsection
7.5;

 

		2.4	Retained Liabilities and Indemnity

The Purchaser will not assume and will not
be liable for, and the Seller will indemnify the Purchaser from and against, all obligations, commitments and liabilities of and
claims against the Purchaser (whether absolute, accrued or contingent) relating to the Business prior
to the Closing Date, except for the Assumed Liabilities.

 

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3            PURCHASE AND REPURCHASE PRICE AND
PAYMENT

 

		3.1	Purchase Price

The Purchase
Price payable by the Purchaser to the Seller for the Purchased Assets is s1,877,232.48.

 

		3.2	Payment of Purchase Price

 

(a)         On Closing, Purchaser shall pay
to Seller a total amount of $1,877,232.48.

(b)        Purchaser has the right to substitute any po11ion of the payment for the Purchase Price in cash by transfer of receivables from selling, reselling or licensing of
the Purchased Assets, provided however that this substitute payments exclude any rights or licenses to the Separated Assets; and
Seller has the obligation to accept such substitute as payment.

 

		3.3	Prepaid Expenses and Adjustments

Prepaid Expenses, employee
costs, and all other matters provided in this agreement to be paid by the Purchaser or Seller, which are assumed or retained by
the other, shall be adjusted and allowed between the Purchaser and Seller as of the Date of Closing, that day to be allocated to
the Seller. Any additional adjustments as are determined within ninety (90) days of closing shall be readjusted after such period
and paid by the benefiting party to the other party forthwith.

 

4           CONDITIONS PRECEDENT

 

The Purchaser acknowledges
that the Seller's main interest is the restructuring of its Indian operations to simplify the corporate structure and offering
it utilizes to carry on business in India, and such restructuring will require the fulfillment all of the Conditions Precedent
to the Closing of this Agreement as described in this section 4 herein, if not waived by the Seller in writing. Consequently, the
parties agree:

 

(1)          Notwithstanding
anything herein contained, the obligation of the Seller and the Purchaser to complete the transactions provided for herein will
be subject to the fulfillment of the following conditions at or prior to the Closing Time:

 

		(i)	The formation of GBS India Private Limited is completed and the final transfer of all shares
of GBS India Ptv Ltd will be at Closing.

		(ii)	All assets to the IntelliPrint or FewClix business/product lines are repurchased by the Seller or by an affi liate to the Seller,
or will be at Closing.

		(iii)	All employees for the lntelliPrint and FewClix product lines, as well as for all G BS related QA activities are transferred
to GBS India Ptv Ltd.

		(iv)	All employees for the Transformer business line and the GroupLive business line are transferred to GBS India Ptv. Ltd.

 

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		(v)	The management of GBS India is in place and contracted for a period of 24 months;

		(vi)	Purchaser has full ownership of GBS India Ptv. Ltd.

 

(2)        All
transfer documents regarding the Seller or its affiliates are completed and executed on the Closing Day. All outstanding payments
between the Parties, except for the fees and expenses for the restructuring service, will be paid or balanced at the Closing.

 

(3)        The
Purchasers expenses as described in section 11.4 are approved and accepted by the Seller.

 

5             REPRESENTATIONS AND WARRANTIES

 

		5.1	Representations and Warranties

The Seller represents
and warrants to the Purchaser as hereafter set forth, and acknowledges that the Seller is relying upon the accuracy of each of
such representations and warranties in connection with the purchase of the Purchased Assets and the Repurchase of the Separated
Assets completion of the other transactions hereunder:

 

(a)        Status.
The Seller is a corporation duly incorporated and validly y subsisting in all respects under the laws of its jurisdiction of
incorporation. The Seller has all necessary corporate power to own its properties and to carry on its business as it is now being
conducted.

 

(b)        Corporate
Authority and Binding Obligation. The Seller has good right, full corporate power and absolute authority to enter into this
agreement and to sell, assign and transfer the Purchased Assets to the Seller in the manner contemplated herein and to perform
all of the Seller's obligations under this agreement. The Seller and its board of directors have taken all necessary or desirable
actions, steps and corporate and other proceedings to approve or authorize, validly and effectively, the entering into, and the
execution, delivery and performance of, this agreement and the sale and transfer of the Purchased Assets by the Seller to the Seller.
This agreement is a legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with its terms
subject to (i ) bankruptcy, insolvency, moratorium, reorganization and other laws relating to or affecting the enforcement of creditors'
rights generally, and (ii) the fact that equitable remedies, including the remedies of specific performance and injunction, may
only be granted in the discretion of a court.

 

(c)
       No Other Purchase Agreements. No person has any agreement, option,
understanding or commitment, or any right or privilege (whether by law, preemptive or contractual) capable of becoming an
agreement, option or commitment, for the purchase or other acquisition from the Seller of any of the Purchased Assets, or any
rights or interest therein, other than in the ordinary course of the Business.

 

(d)
       Contractual and Regulatory Approvals. Except as specified in Schedule
7 attached hereto, the Seller is not under any obligation, contractual or otherwise, to request or obtain the consent of
any person, and no permits, licenses, certifications, authorizations or approvals of, or notifications to, any federal,
provincial, municipal or local government or governmental agency, board, commission or
authority are required to be obtained by the Seller in connection with the execution, delivery or performance by the Seller
of this agreement or the completion of any of the transactions contemplated herein.

 

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(e)
       Compliance with Constraining Documents, Agreements
and Laws. The execution, delivery and performance of this agreement and each of the other agreements contemplated or referred
to herein by the Seller, and the completion of the transactions contemplated hereby, will not constitute or result in a
violation, breach or default, or cause the acceleration of any obligations which are included in the Assumed Liabilities,
under:

 

		(1)	any term or provision of any of the articles, by-laws
or other constraining documents of the Seller; or

		(2)	subject to obtaining the contractual consents referred to in Schedule 7 hereof, the terms
of any indenture, agreement (written or oral), instrument or understanding or other obligation or restriction to which the Seller
is a party or by which it is bound including, without limitation, any of the Assumed Contracts.

 

(a)           Title to Assets. Except as set forth on Schedule 8, the Seller is contracted
to sell, or is en titled to, or is the owner of and has good and marketable title to all of the Purchased Assets, free of encumbrances,
and no other person owns any assets which are being used in the Business; except such title in the case of leases and licenses
being limited to the rights of lessee and licensee.

 

(b)           Customer Contracts and Other Contracts. To the best of the Seller's knowledge,
the Seller is not in default or breach of any of its obligations under any one or more of the Customer Contracts or Other Contracts,
and there exists no state of facts which, after notice or lapse of time or both, would constitute such a default or breach. To
the best of the Seller's knowledge, all such Customer Contracts and Other Contracts are now in good standing and i n full force
and effect without amendment thereto, the Seller is entitled to all benefits thereunder and the other parties to such Customer
Contracts and Other Contracts are not in default or breach of any of their obligations thereunder. To the best of the Seller's
knowledge, all agreements with customers of the Business are contained in the customer files to be delivered to the Seller on closing
and there are no other agreements, contracts, commitments or waivers related thereto.

 

(c)           Disclosure. No representation or warranty contained in this section 6.1 ,
and no statement contained in any schedule, certificate, list, summary or other disclosure document provided or to be provided
to the Seller pursuant hereto, or in connection with the transactions contemplated hereby, contains or will contain any untrue
statement of a material fact, or to the knowledge of the Seller omits or will omit to state any material fact which is necessary
in order to make the statements contained therein not misleading.

 

(d)           Conduct of Business. As of the Time of Closing, during the Interim Period,
except as contemplated by this agreement or with the prior written consent of the Seller:

 

		(1)	Seller shall have operated the Business only in the ordinary course thereof, consistent with past
practices;

 

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		(2)	Seller shall have promptly advised the Seller of any facts that have come to Seller's attention
which would cause any of the Seller's representations and warranties herein contained to be untrue in any material respect;

		(3)	Seller shall have carried out its obligations under section 7.2

 

(e)           Employees. There is no pension, benefit, profit sharing or other similar
plan respecting the Assumed Employees that will be binding or the Seller. There is no collective bargaining agreement, either directly
or by operation of law, with any trade union or association which might qualify as a trade union.

 

		5.2	Disclaimer Respecting Seller's Representations and Warranties

The
Seller acknowledges that it is purchasing the Purchased Assets pursuant to this agreement on an "as is, where is" basis
and, except for the representations and warranties set out herein, the Seller does not make, nor is it liable for, any representation,
warranty or condition of any kind whatsoever, express or implied, or legal, equitable, conventional, collateral or otherwise, including,
without limitation, any warranties or conditions or merchantability or fitness for a particular purpose. The Seller acknowledges
that is familiar with the Business and has had the opportunity to conduct a full investigation of the Business. In purchasing the
Purchased Assets and assuming the Assumed Liabilities pursuant to this agreement, the Seller acknowledges that it is relying entirely
on its own knowledge, investigations and judgment. In conducting its investigation of the Business, the Purchased Assets and the
Assumed Liabilities, and in considering the various factors relevant to such assets, rights and obligations, the Seller has not
relied on the judgment or any representations or warranties of the Seller or those of its agents, employees, officers, di rectors,
affiliates, advisors or other representatives, other than as set out in section 6.1 of this
agreement.

 

		5.3	Representations and Warranties by the Purchaser

The Purchaser represents
and warrants to the Seller as follows, and acknowledges that the Seller is relying upon the accuracy of each of such representations
and warranties in connection with the sale of the Purchased Assets and the completion of the other transactions hereunder:

 

(a)           Status. The Purchaser is a corporation duly incorporated and
validly subsisting i n all respects under the laws of its jurisdiction of incorporation.

 

(b)           Corporate Authority and Binding Obligation. The Purchaser has
good right, full corporate power and absolute authority to enter into this agreement and to purchase the Purchased Assets from
the Purchaser in the manner contemplated herein and to perform all of the Purchaser's obligations under this agreement. Upon waiver
or f fulfillment of the condition set forth in subsection 8.1(g) the Purchaser and its shareholders
and board of directors shall have taken all necessary or desirable actions, steps and corporate and other proceedings to approve
or authorize, validly and effectively, the entering into of, and the execution, delivery and perfom1ance of, this agreement and
the purchase of the Purchased Assets by the Purchaser from the Purchaser. This agreement is a legal, valid and binding obligation
of the Purchaser, enforceable against it in accordance with its terms subject to bankruptcy, insolvency, moratorium, reorganization
and other laws relating to or affecting the enforcement of creditors' rights generally and the fact that equitable remedies, including
the remedies of specific performance and injunction, may only be granted in the discretion of a court.

 

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(c)           Contractual
and Regulatory Approvals. Subject only to and upon waiver or fulfillment of the condition set forth in subsection 8.l(e),
the Purchaser is not under any obligation, contractual or otherwise to request or obtain the consent of any person, and no permits,
licenses, certifications, authorizations or approvals of, or notifications to, any federal, provincial, mw1icipal or local government
or governmental agency, board, commission or authority are required to be obtained by the Purchaser in connection with the execution,
delivery or performance by the Purchaser of this agreement or the completion of any of the transactions contemplated herein.

 

(d)           Compliance
with Constraining Documents, Agreements and Laws.The execution, delivery and performance of this agreement and each of
the other agreements contemplated or referred to herein by the Purchaser, and the completion of the transactions contemplated hereby,
will not constitute or result in a violation or breach of or default under:

 

		(I)	any term or provision of any of the a1ticles, by-laws
or other constraining documents of the Purchaser; or

		(2)	the terms of any indenture, agreement (written or oral), instrument or understanding or other obligation or restriction to
which the Purchaser is a pa1ty or by which it is bound.

 

		5.4	Survival of Warranties by Purchaser

The representations
and warranties made by the Purchaser and contained in this agreement or contained in any document or certificate given in order
to carry out the transactions contemplated hereby will survive the closing of the purchase and sale of the Purchased Assets provided
for herein and, notwithstanding such closing or any investigation made by or on behalf of the Purchaser or any other person or
any knowledge of the Purchaser or any other person, shall continue in full force and effect for the benefit of the Purchaser, provided
that no warranty claim may be made or brought by the Purchaser after the date which is 12 months following the Closing Date.

 

6          COVENANTS AND
ADDITIONAL TERMS 

 

		6.1	Confidential Information

(a)           Until
the Closing Parties shall to keep in strict confidence and not use for any purpose other than completing the transactions provided
by this agreement any information supplied by or learned from Parties, and their respective advisors and agents, related to Parties
or to the Business, including and not limited to the assets, liabilities, customers, employees, plans, products, techniques and
finances of Parties. Excluded i s any information in the public domain other than by breach of this or any other confidentiality
agreement or obligation of any person

 

(b)           Parties
may disclose such information as is relevant to lenders and equity partners to obtain necessary debt and equity financing, each
of whom shall receive such information in confidence on and subject to the terms hereof. At the request of Parties, Parties will
supply Parties with a list of all such persons and organizations with contact details and a brief
summary of the information supplied.

 

    	11

    	 

    

 

(c)           The obligation of the Parties to keep confidential and not use any
information does not apply to information which:

		(i)	becomes generally available to the public other than as a result of a disclosure by the Parties or its representatives in violation
of this agreement or any other confidentiality agreement or obligation of any person;

		(ii)	was available to the Parties on a non-confidential basis before its disclosure by the Parties;

		(iii)	becomes available to the Parties on a non-confidential basis from a source other than the Parties if such source is not bound
by a confidentialityy agreement with the Parties

 

(d)          This confidentiality obligation:

		(i)	shall continue following termination of this agreement in accordance with its terms;
	 	(ii) 	 shall cease respecting the Business
only as of the closing, and shall otherwise continue with respect to any matter other than the Business, such as other matters
respecting Parties; and 

		(iii)	is in addition to and not in substitution for any other agreements respecting confidentiality.

 

		6.2	Interim Period

Except as contemplated
by this agreement or with the prior written consent of the Seller, during the Interim Period the Purchaser will:

 

(a)            operate the Business only y in the ordinary course thereof, consistent
with past practices;

 

(b)           take all commercially reasonable actions within their control to ensure
that the representations and warranties in section 6.1 hereof remain true ru1d correct at the time of Closing;

 

(c)            promptly advise the Seller of any facts that come to its attention
which would cause any of the Purchaser's representations and warranties herein contained to be untrue in any respect;

 

(d)            take all action to preserve the Purchased Assets and the Business
and its goodwill and relationships with customers, suppliers and others having dealings with the Business, to keep available the
services of all employees of the Business and to maintain in full force and effect all agreements relating to the Business
to which the Purchaser is a surety, and take all other action reasonably requested by the Seller in order that the condition of
the Business will not be impaired during the Interim Period; condition of the Business during the Interim Period;

 

    	12

    	 

    

 

(e)          promptly advise
the Seller in wntmg of any material
adverse change
m the condition of the Business
during
the Interim Period;

  

(f)           maintain
all of the tangible properties and assets of the Business in the same condition as they now exist, ordinary wear and tear excepted;

 

(g)           maintain
the Business Records in the ordinary course and record all transactions on a basis consistent with past practice;

 

(h)           not
create, incur or assume any encumbrance upon any of the Purchased Assets;

 

(i)           not
dispose of any of the Purchase Assets properties or assets of the Business except in the ordinary course of the Business;

 

(j)            not
terminate or waive any right of substantial value of the Business;

 

(k)           maintain
the inventories of the Business in accordance with past practice;

 

(I)           keep in full l force al l of the current insurance policies
of the Business;

 

(m)           take
all actions within its control to ensure performance all of Purchaser's obligations falling due during the Interim Period under
all agreements relating to the Business to which the Purchaser is a party or by which it is bound;

 

(n)           not
enter into any agreement relating to the Business other than agreements made in the ordinary course of the Business consistent
with past practice;

 

(o)           not
increase, in any manner, the compensation or employee benefits of any of the employees of the Business, or pay or agree to pay
to any of them any pension, severance or termination amount or other employee benefit not required by any of the employee benefit
plans and programs referred to in the schedules attached hereto.

 

(p)           And
will separated the assets as described in section 2.5, restructure the SD Holdings operations and prepare the transfer of the separated
assets to GBS India upon Closing.

 

		6.3	Covenants by the Seller

The Seller covenants to the Purchaser that
it wil l do or cause to be done the following:

(a)           Fulfillment
of Conditions Precedent.

 

		6.4	Announcements

No announcement with
respect to this agreement will be made by any party hereto without the prior approval of the other party and the existence and
the terms of this agreement will be kept confidential. The wording and timing of all press releases and employee announcements
will be mutually agreed upon.The foregoing will not apply to any announcement by any party required in order to comply with
laws pertaining to timely announcement.

 

    	13

    	 

    

 

		6.5	Survival of Covenants

The covenants of the
Seller and Purchaser herein will survive the Closing and shall continue in full force and effect for the benefit of the other.

 

7        CLOSING 

 

		7.1	Closing Arrangements

The transactions contemplated
herein shall be closed at the Closing Time at the offices of the Seller on or no later than five days after the fulfillment of
all Conditions Precedent.

 

8          GENERAL
CONTRACT TERMS

 

		8.1	Further Assurances

Each of the Purchaser
and the Seller hereby covenants and agrees that at any time and from time to time after the Closing Date it will, upon the request
of the others, do, execute, acknowled ge and deliver or cause to be done, executed, acknowledged and deli vered all such further
acts, deeds, assignments, transfers, conveyances and assurances as may be required for the better carrying out and performance
of all the tem1s of this agreement.

 

		8.2	Remedies Cumulative

The rights and remedies
of the parties under thi s agreement are cumulative and in addition to and not in substitution for any rights or remedies provided
by law. Any single or partial exercise by any party hereto of any right or remedy for default or breach of any term, covenant
or condition of this agreement does not waive, alter, affect or prejudice any other right or remedy to which such party may be
lawfully entitled for the same default or breach.

 

		8.3	Notices

(a)
     Any notice, designation, commW1ication, request, demand or other document,
required or permitted to be given or sent or delivered hereunder to any party hereto shall be in writing and shall be sufficiently
given or sent or delivered if it is:

 

		(1)	delivered personally to an officer or director of such party;

		(2)	delivered in a sealed envelope addressed to the party at the notice address as provided below;

		(3)	sent by fax to the party to the attention of party addressed below, provided proof of receipt of transmission is obtained.

 

		(b)	Notices shall be sent to the following addresses or telecopy numbers:

 

In the case of the Seller:

 

    	14

    	 

    

 

GBS Enterprises Incorporated

USA

Attention: Joerg Ott

Fax:        +I
(404) 474 7256

 

In the case of the Purchaser:

SO Holdings Ltd.

Attention: Suzann X7B{

 

With a copy to:

Lotus Holding Ltd.

Don House

30-31 Main Street

Gibraltar

Attent ion:  Ronald R. Durban

 

or to such other address or fax number as a party
may change by notice.

 

		8.4	Expenses of Parties

Purchaser shall bear all expenses incurred in connection with this.

 

		8.5	Assignment

Save as provided herein
the rights of the Seller hereunder shall not be assignable without the written consent of the Purchaser.

 

		8.6	Successors and Assigns

This agreement shall
be binding upon and enure to the benefit of the parties hereto and their respective successors and permitted assigns. Nothing
herein, express or implied, is intended to confer upon any person, other than the parties hereto and their respective successors
and assigns, an y rights, remedies, obligations or liabilities under or by reason of this agreement.

 

		8.7	Entire Agreement

This agreement and
the schedules referred to herein together with all certificates, transfers, documents, agreements and instruments delivered concurrently
with this agreement constitute the entire agreement between the parties hereto and supersede all prior agreements, representations,
warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied, with
respect to the subject matter hereof. None of the parties hereto shall be bound or charged with any oral or written agreements,
representations, warranties, statements, promises, information, arrangements or understandings not specifically set forth in this
agreement or in the schedules, certificates, transfers, docw11ents agreement and instruments delivered concurrently with this agreement.
The parties hereto further acknowledge and agree that, in entering into this agreement and in delivering such schedules, certificates,
transfers, documents, agreements and instruments, they have not in any way relied, and will not in any way rely, upon any oral
or written agreements, representations, warranties, statements, promises, information, arrangements or understandings, express
or implied, not specifically setforth in this agreement or in such schedules, certificates, transfers,
documents, agreements or instruments.

 

    	15

    	 

    

 

		8.8	Waiver

Any party hereto which
is entitled to the benefits of this agreement may, and has the right to, waive any term or condition hereof at any time on or prior
to the Closing Time; provided, however, that such waiver shall be evidenced by written instrument duly executed on behalf of such
party.

 

		8.9	Amendments

No modification or
amendment to this agreement may be made unless agreed to by the parties hereto in writing by their authorized officers.

 

		8.10	Counterparts

This agreement may
be executed in several counterparts, each of which so executed shall be deemed to be an original, and such counterparts together
shall constitute one instrument.

 

		8.11	Fax and E-Mail Execution

This agreement and
any document executed in furtherance of it up to the Time of Closing may be executed and delivered by fax transmission provided
a printed proof of transmission receipt is obtained; or by scanned signature as a pdf file, which may be delivered by e-mail to
the customary e-mail address of the recipient provided no notice of non-delivery is transmitted back. Each party so delivering
a document shall provide an originally signed copy upon request forthwith thereafter.

 

(Signatures on next page)

 

    	16

    	 

    

 

(Signature page of Purchase Agreement between SD Holdings
Ltd. as Purchaser and GBSEnterprises Incorporated as Seller)

 

In witness whereof, the parties hereto have duly executed
and delivered this agreement under hand of their duly authorized officers as of the day and year first written above.

 

	SD Holdings Ltd.	 
	 	 
	Per:	/s/ Joerg Ott	 
	Name: Joerg Ott	 
	Title: Director	 

 

	GBS Enterprises Incorporated	 
	 	 
	Per:	/s/ Joerg Ott	 
	Name: Joerg Ott	 
	Title: CEOExhibit 10.2

 

LOTUS HOLDING LTD.

 

- and -

 

GBS Enterprises Incorporated

  

 

  

PURCHASE AGREEMENT

 

respecting

 

SD Holdings Ltd.

 

 

  

    	 

    	 

    

 

TABLE OF CONTENTS

 

	 	INTERPRETATION 	1
	 	1.1 Defined Terms 	1
	 	1.2 Schedules 	4
	 	1.3 Currency 	4
	 	1.4 Payments 	4
	 	1.5 Choice of Law and Attornment 	4
	 	1.6 Interpretation Not Affected by Headings or Party Drafting 	4
	 	1.7 Number and Gender 	5
	 	1.8 Time of Essence 	5
	2	PURCHASE OF, SEPARATION OF AND REPURCHASE OF ASSETS	5
	 	2.1 Purchased Assets 	5
	 	2.2 Excluded Assets 	6
	 	2.3 Additional Purchased Assets 	6
	 	In addition to the assets described above, Purchaser acquires all receivables
    from Seller to SD Holdings as of the day of Closing 	6
	 	2.4 Assumed Liabilities 	6
	 	2.5 Retained Liabilities and Indemnity 	7
	 	2.6 Separation of Assets by Purchaser 	7
	 	2.7 Repurchase of Assets by Seller 	8
	3	PURCHASE AND REPURCHASE PRICE AND PAYMENT	8
	 	3.1 Purchase Price 	8
	 	3.2 Payment of Purchase Price 	8
	 	3.3 Prepaid Expenses and Adjustments 	8
	 	3.4 Repurchase Price 	8
	 	3.5 Repurchase Price Payment 	9
	4	CONDITIONS PRECEDENT	9
	5	TRANSACTION STRUCTURE	9
	6	REPRESENTATIONS AND WARRANTIES	10
	 	6.1 Representations and Warranties 	10
	 	6.2 Disclaimer Respecting Seller's Representations and Warranties 	13
	 	6.3 Representations and Warranties by the Purchaser 	13
	 	6.4 Survival of Warranties by the Purchaser 	14
	 	6.5 Survival of Warranties by Purchaser 	14
	7	COVENANTS AND ADDITIONAL TERMS	15
	 	7.1 Confidential Information 	15
	 	7.2 Interim Period 	15
	 	7.3 Covenants by the Purchaser 	17
	 	7.4 Covenants by the Seller 	17
	 	7.5 Announcements	17
	 	7.6 Survival of Covenants 	18
	8	CONDITIONS AND TERMINATION OF AGREEMENT	18
	 	8.1 Conditions to the Obligations of the Seller and the Purchaser 	18

 

    	 

    	 

    

 

	 	8.2 Waiver or Termination by Purchaser	18
	9	CLOSING	19
	 	9.1 Closi ng Arrangements	19
	10	INDEMNIFICATION	19
	 	10.1 Indemnity by the Seller	19
	11	GENERAL CONTRACT TERMS	19
	 	11.1 Further Assurances	19
	 	11.2 Remedies Cumulative	19
	 	11.3 Notices	20
	 	11.4 Expenses of Parties	20
	 	11.5 Assignment	20
	 	11.6 Successors and Assigns	20
	 	11.7 Entire Agreement	21
	 	11.8 Waiver	21
	 	11.9 Amendments	21
	 	11.10 Counterparts	21
	 	11.11 Fax and E-Mail Execution	21

 

    	 

    	 

    

 

PURCHASE AGREEMENT

 

Made as of the 2nd day of April, 2012

 

Between  

GBS ENTERPRISES INC.

a corporation incorporated under the laws
of Nevada, USA

(the "Seller")

OF THE FIRST PART

 and

Lotus Holding Ltd,

a corporation incorporated under
the laws of Gibraltar

 (the "Purchaser" ),

OF THE SECOND PART

 witnesses that,

WHEREAS:

 

The Seller restructures his Indian operations;
and therefore the Seller wishes to sell and the Purchaser to x`xpurchase the certain assets on or before the Closing Day, but
not prior to the fulfillment of all Conditions Precedent, effective as of the "Effective Day", as descri bed herein.

 

THEREFORE:

 

In consideration of the premises and the
mutual agreements and covenants herein contained, the parties hereto hereby covenant and agree as follows:

 

1           INTERPRETATION

 

		1.1	Defined Terms.

(a)           In
this agreement and in the schedules hereto, unless there is something in the subject matter or context inconsistent therewith.
the following ng terms and expressions will have the following meanings:

 

		(1)	"Assumed
                                                                                                                                                            Contracts"
                                                                                                                                                            means
                                                                                                                                                            the
                                                                                                                                                            Customer
                                                                                                                                                            Contracts,
                                                                                                                                                            Other
                                                                                                                                                            Contracts,
                                                                                                                                                            the
                                                                                                                                                            Licensed
                                                                                                                                                            IP
                                                                                                                                                            Agreements
                                                                                                                                                            for
                                                                                                                                                            the
                                                                                                                                                            Business;

 

		(2)	"Assumed
                                                                                                                        Employees"
                                                                                                                        means
                                                                                                                        the employees
                                                                                                                        of the
                                                                                                                        Business;

 

		(3)	"Assumed
                                                                                                      Liabilities" means
                                                                                                      the liabilities of the Purchaser
                                                                                                      which are to be assumed
                                                                                                      by the Seller pursuant to
                                                                                                      section 2.3 hereof;

 

		(4)	"Business"
                                                                                                     means the business carried
                                                                                                     on by the SO Holdings division
                                                                                                     of the Purchaser which comprises
                                                                                                     the development, marketing,
                                                                                                     distribution and licensing
                                                                                                     of the non-IBM Lotus Notes/Domino
                                                                                                     business and any related
                                                                                                     consu lting and train i ng,
                                                                                                     in particular but not limited
                                                                                                     to the Intelli View and NXT
                                                                                                     prod uct;

 

    	1

    	 

    

 

		(5)	"Business
                                                                                                                       Restructuring""
                                                                                                                       means
                                                                                                                       the separation
                                                                                                                       of any
                                                                                                                       data, documentation,
                                                                                                                       website,
                                                                                                                       domain,
                                                                                                                       or any
                                                                                                                       other related
                                                                                                                       information
                                                                                                                       to the
                                                                                                                       FewClix
                                                                                                                       products,
                                                                                                                       t he lntelliPrint
                                                                                                                       product
                                                                                                                       line, the
                                                                                                                       related
                                                                                                                       employees,
                                                                                                                       receivables,
                                                                                                                       t he lease
                                                                                                                       for the
                                                                                                                       Synaptris
                                                                                                                       Decision
                                                                                                                       Ptv Ltd
                                                                                                                       premises
                                                                                                                       in Chennai,
                                                                                                                       all related
                                                                                                                       business
                                                                                                                       and all
                                                                                                                       related
                                                                                                                       assets
                                                                                                                       from the
                                                                                                                       Business;
                                                                                                                       .

 

		(6)	"
                                                                                                                                                                             Business
                                                                                                                                                                             Day"
                                                                                                                                                                             means
                                                                                                                                                                             any
                                                                                                                                                                             day
                                                                                                                                                                             other
                                                                                                                                                                             than
                                                                                                                                                                             a
                                                                                                                                                                             day
                                                                                                                                                                             which
                                                                                                                                                                             i
                                                                                                                                                                             s
                                                                                                                                                                             a
                                                                                                                                                                             Saturday,
                                                                                                                                                                             a
                                                                                                                                                                             Sunday
                                                                                                                                                                             or
                                                                                                                                                                             a
                                                                                                                                                                             public
                                                                                                                                                                             holiday
                                                                                                                                                                             in
                                                                                                                                                                             the
                                                                                                                                                                             Ci
                                                                                                                                                                             t
                                                                                                                                                                             y
                                                                                                                                                                             of
                                                                                                                                                                             New
                                                                                                                                                                             York,
                                                                                                                                                                             NY;

 

		(7)	"
                                                                                                                       Business
                                                                                                                       Records"
                                                                                                                       means
                                                                                                                       the books,
                                                                                                                       records,
                                                                                                                       fi les
                                                                                                                       and documents
                                                                                                                       relating
                                                                                                                       to the
                                                                                                                       operation
                                                                                                                       of the
                                                                                                                       Business
                                                                                                                       and the
                                                                                                                       ownership
                                                                                                                       of the
                                                                                                                       other assets
                                                                                                                       transferred
                                                                                                                       hereunder,
                                                                                                                       including
                                                                                                                       without
                                                                                                                       limitation,
                                                                                                                       sales and
                                                                                                                       purchase
                                                                                                                       records,
                                                                                                                       lists of
                                                                                                                       suppliers,
                                                                                                                       credit
                                                                                                                       information,
                                                                                                                       cost and
                                                                                                                       pricing
                                                                                                                       information,
                                                                                                                       business
                                                                                                                       reports,
                                                                                                                       plans and
                                                                                                                       projections
                                                                                                                       and all
                                                                                                                       other correspondence,
                                                                                                                       data and
                                                                                                                       infom1ation,
                                                                                                                       financial
                                                                                                                       or otherwise,
                                                                                                                       in any
                                                                                                                       format
                                                                                                                       and med
                                                                                                                       ia whatsoever
                                                                                                                       related
                                                                                                                       thereto;
                                                                                                                       but specifically
                                                                                                                       excluding
                                                                                                                       therefrom
                                                                                                                       the corporate
                                                                                                                       and financial
                                                                                                                       records
                                                                                                                       of the
                                                                                                                       Purchaser
                                                                                                                       and those
                                                                                                                       records
                                                                                                                       related
                                                                                                                       to any
                                                                                                                       assets
                                                                                                                       not transferred
                                                                                                                       hereunder.

 

		(8)	"
                                                                                                                                                                                   Closing"
                                                                                                                                                                                   means
                                                                                                                                                                                   the
                                                                                                                                                                                   compl
                                                                                                                                                                                   etion
                                                                                                                                                                                   of
                                                                                                                                                                                   the
                                                                                                                                                                                   purchase,
                                                                                                                                                                                   repurchase
                                                                                                                                                                                   and
                                                                                                                                                                                   sale
                                                                                                                                                                                   transactions
                                                                                                                                                                                   as
                                                                                                                                                                                   provided
                                                                                                                                                                                   by
                                                                                                                                                                                   this
                                                                                                                                                                                   agreement;

 

		(9)	"Closing
                                                                                                                                         Day"
                                                                                                                                         means
                                                                                                                                         August
                                                                                                                                         I,
                                                                                                                                         2012,
                                                                                                                                         or
                                                                                                                                         such
                                                                                                                                         other
                                                                                                                                         date
                                                                                                                                         as
                                                                                                                                         the
                                                                                                                                         Seller
                                                                                                                                         and
                                                                                                                                         Purchaser,
                                                                                                                                         directly
                                                                                                                                         or
                                                                                                                                         by
                                                                                                                                         their
                                                                                                                                         legal
                                                                                                                                         counsel,
                                                                                                                                         agree
                                                                                                                                         in
                                                                                                                                         writing;

 

		(I0)	"Closing
                                                                                                                                                                              Time"
                                                                                                                                                                              means
                                                                                                                                                                              the
                                                                                                                                                                              time
                                                                                                                                                                              at
                                                                                                                                                                              which
                                                                                                                                                                              the
                                                                                                                                                                              parties
                                                                                                                                                                              through
                                                                                                                                                                              their
                                                                                                                                                                              legal
                                                                                                                                                                              counsel
                                                                                                                                                                              agree
                                                                                                                                                                              to
                                                                                                                                                                              attend
                                                                                                                                                                              to
                                                                                                                                                                              the
                                                                                                                                                                              Closing;

 

		(11)	"Condition"
                                                                                                                         of
                                                                                                                         the Business
                                                                                                                         means
                                                                                                                         the condition
                                                                                                                         of the
                                                                                                                         assets,
                                                                                                                         liabilities,
                                                                                                                         operations,
                                                                                                                         activities,
                                                                                                                         earnings,
                                                                                                                         prospects,
                                                                                                                         affairs
                                                                                                                         or financial
                                                                                                                         position
                                                                                                                         of the
                                                                                                                         Business
                                                                                                                         as of
                                                                                                                         April
                                                                                                                         2nd ,
                                                                                                                         201 2;

 

		(12)	"Conditions
                                                                                                                         Precedent"
                                                                                                                         means
                                                                                                                         the Closing
                                                                                                                         will
                                                                                                                         not occur
                                                                                                                         prior
                                                                                                                         to the
                                                                                                                         completion
                                                                                                                         of the
                                                                                                                         events
                                                                                                                         described
                                                                                                                         in Section
                                                                                                                         4 hereof;;

 

		(13)	"Effective
                                                                                                                         Day"
                                                                                                                         means
                                                                                                                         April
                                                                                                                         151
                                                                                                                         , 2012;

 

		(14)	"Encumbrances"
                                                                                                                                                                              means
                                                                                                                                                                              mortgages,
                                                                                                                                                                              charges,
                                                                                                                                                                              pledges,
                                                                                                                                                                              security
                                                                                                                                                                              interests,
                                                                                                                                                                              Iiens,
                                                                                                                                                                              encumbrances,
                                                                                                                                                                              actions,
                                                                                                                                                                              claims,
                                                                                                                                                                              demands
                                                                                                                                                                              and
                                                                                                                                                                              equities
                                                                                                                                                                              of
                                                                                                                                                                              any
                                                                                                                                                                              nature
                                                                                                                                                                              whatsoever
                                                                                                                                                                              or
                                                                                                                                                                              howsoever
                                                                                                                                                                              arising
                                                                                                                                                                              and
                                                                                                                                                                              any
                                                                                                                                                                              rights
                                                                                                                                                                              or
                                                                                                                                                                              privileges
                                                                                                                                                                              capable
                                                                                                                                                                              of
                                                                                                                                                                              becoming
                                                                                                                                                                              any
                                                                                                                                                                              of
                                                                                                                                                                              the
                                                                                                                                                                              foregoing;

 

		(15)	"GBS
                                                                                                                                          India"
                                                                                                                                          means
                                                                                                                                          the
                                                                                                                                          brand
                                                                                                                                          name
                                                                                                                                          for
                                                                                                                                          the
                                                                                                                                          new
                                                                                                                                          entity
                                                                                                                                          to
                                                                                                                                          be
                                                                                                                                          created
                                                                                                                                          as
                                                                                                                                          a
                                                                                                                                          wholly
                                                                                                                                          owned
                                                                                                                                          subsidiary
                                                                                                                                          to
                                                                                                                                          Seller
                                                                                                                                          by
                                                                                                                                          Purchaser.

 

		(16)	"interim
                                                                                                                         Period"
                                                                                                                         is
                                                                                                                         the
                                                                                                                         time
                                                                                                                         from
                                                                                                                         execution
                                                                                                                         of this
                                                                                                                         agreement
                                                                                                                         until
                                                                                                                         the Closing
                                                                                                                         Ti me.

 

    	2

    	 

    

 

		(17)	"Payment"
                                                                                     means any wire transfers from the Purchaser,
                                                                                     or from an affiliated party to the Purchaser,
                                                                                     to the Seller, or to an affiliated party
                                                                                     to the Seller;

 

		(18)	"Person"
                                                                                     means and includes any individual, corporation.
                                                                                     partnership, firm, joint venture, syndicate,
                                                                                     association, trust, government, governmental
                                                                                     agency or board or commission or authority,
                                                                                     and any other form of entity or organization;

 

		(19)	"Prepaid
                                                                                     Expenses" means prepaid contracts
                                                                                     and rights relating exclusively to the Business,
                                                                                     including and not limited to rent and deposits
                                                                                     for ut ilities, and employee advances.

 

		(20)	"Premises"
                                                                                     means the leased office premises at Bishop
                                                                                     Waller Ave., Malipore, Chennai, where the
                                                                                     Seller wil l continue to canyon the Business
                                                                                     of GBS India;

 

		(21)	"Purchase Price"
                                                                   means the amount payable by the Purchaser to the Seller
                                                                   for all of the Purchased Assets, as provided in section
                                                                   3.1 hereof;

 

		(22)	"Purchased Assets"
                                                                   means all assets of SD Holdings; the undertaking and assets
                                                                   of the Business which are to be sold by the Purchaser to the
                                                                   Seller pursuant to section 2.1 hereof;

 

		(23)	"Repurchased Assets"
                                                                   means the IntelliPrint and FewClix computer software application
                                                                   for Lotus Notes and any other computer software based on the
                                                                   IntelliPrint product, including al l past and current versions
                                                                   and all versions in development, and including all source code,
                                                                   program code and documentation in any format related thereto,
                                                                   and all patent rights, copyrights, and other proprietary rights
                                                                   therein.

 

		(24)	"Repurchase Price"
                                                                   means the amount payable by the Seller to the Purchaser
                                                                   for all of the Repurchased Assets, as provided in section 3.6
                                                                   hereof;

 

		(25)	"Separated Assets"
                                                                    means all assets separated by the Purchaser for repurchase
                                                                    by the Selkr, as provided in section 2.5 hereof;

 

		(26)	"Warranty Claim"
                                                                   means a cl aim made by either the Seller or the Purchaser
                                                                   based on or with respect to the inaccuracy or non-performance
                                                                   or non-fulfillment or breach of any representation or warranty
                                                                   made by the other patty contained in this agreement or contained
                                                                   in any document or certificate given in order to cany out the
                                                                   transactions contemplated hereby; and

 

		(27)	"Work-in-progress"
                                                                                     means the work-in-progress of the Business.

 

(b)           Any
reference herein to "the best of the knowledge" of the Purchaser will mean the actual knowledge of the Purchaser's
representative, Ronald R. Durban, a director of the Purchaser, and the knowledge which he would have had if he had conducted a
diligent inquiry into the relevant subject matter.

 

    	3

    	 

    

 

		1.2	Schedules
                                                                                                                     

The schedules which
are attached to this agreement are incorporated into this agreement by reference and are deemed to be part hereof.

 

		1.3	Currency

Unless otherwise
stated, all dollar amounts referred to in t his agreement are in United States dollars.

 

		1.4	Payments.

All payments
shall be made by bank wire transfer in immediately available fw1ds.

 

		1.5	Choice
                                                                                                                                     of
                                                                                                                                     Law
                                                                                                                                     and
                                                                                                                                     Attornment.

Each Party irrevocably
y submits to the exclusive jurisdiction of (i) the state courts of the State of New York, NY, USA and (ii) the United States District
Court for the District of Manhattan for the purposes of any suit, action or other proceeding arising out of or relating to this
Agreement, any other Transaction Document or any transaction contemplated hereby or thereby. Each Party agrees to commence any
action, suit or proceeding relating hereto only in either such court. Each Party irrevocably and unconditionally waives any objection
to the laying of venue of any action, suit or proceeding arising out of thi s Agreement or the transactions contemplated hereby
in (A) the state court of the State of New York, NY, USA, or (B) the United States District Court for the District uf Manhattan,
and hereby further irrevocably and unconditionally wai ves and agrees not to plead or claim in any such court that any such action,
suit or proceeding brought in any such court has been brought in an inconvenient forum. Each Party further irrevocably consents
to the service of process ou t of any of the aforementioned courts in any such suit, action or other proceeding by the mailing
of copies thereof by mail to such Party at its address set forth i n this Agreement, such service of process to be effective upon
acknowledgment of receipt of such registered mail; provided that nothing in this Section 1.5 shall affect the right of any Party
to serve legal process in any other manner permitted by Law. The consent to jurisdiction set forth in this Section 1.5 shall not
constitute a general consent to service of process in the State of Delaware and shall have no effect for any purpose except as
provided in this Section 1 .5. The Parties agree that a final j udgment in any such suit, action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law.

 

		1.6	Interpretation
                                                                                                                     Not Affected
                                                                                                                     by
                                                                                                                     Headings
                                                                                                                     or Party
                                                                                                                     Drafting

The di vision of
this agreement into articles, sections, paragraphs, subparagraphs and clauses and the insertion of headings are for convenience
of reference onl y and shall not affect the construction or interpretation of this agreement. The terms "this agreement"
, "hereof', " herein" , "hereunder" and similar expressions refer to this agreement and t he schedules
hereto and not to any particular at1icle, section, paragraph, subparagraph, clause or other portion hereof and include any agreement
or instrument supplementary or ancillary hereto. Each party hereto acknowledges that it and i ts legal counsel have reviewed and
participated i n settling the terms of this agreement, and the parties hereby agree that any rule of construction to the effect
that any ambiguity is to be resolved against tht: drafting party shall not be applicable in the interpretation of this agreement.

 

    	4

    	 

    

 

		1.7	Number and
                                                                                Gender

In this agreement,
unless there is something in the subject matter or context inconsistent therewith words in the singular number include the plural
and words in the plural include the singular; and words importing the use of any gender shall include all genders; and the rest
of the sentence shall be construed as if the necessary grammatical and terminological changes had been made.

 

		1.8	Time of Essence

Time shall be of the essence hereof.

 

		2	PURCHASE
                                                                                         OF, SEPARATION OF AND REPURCHASE OF ASSETS

 

		2.1	Purchased
                                                                                                                     Assets

On and subject to the terms contained
herein, the Purchaser hereby agrees to sell and the Seller hereby agrees to purchase from the Purchaser, the Purchased Assets
of the Business as a goi ng concern, at the "Effective Day" comprising the following:

 

		(1)	all assets
                                                                                    of SD Holdings, including all liabilities,
                                                                                    all subsidiaries, all IP rights to products,
                                                                                    if owned by SD Holdings or any subsidiary,
                                                                                    comprising but not limited to all copyright
                                                                                    and all associated all related code, specifications,
                                                                                    documentation, revisions, enhancements and
                                                                                    modifications thereto, in whatever form and
                                                                                    media;

 

		(2)	all of the
                                                                                    trademarks owned by SD Holdings or its subsidiaries;

 

		(3)	the benefit of Customer Contracts,
                                                                  subject to assumption of the obligation of performance thereunder
                                                                  by the Seller;

 

		(4)	the benefit
                                                                                    of the Other Contracts, subject to assumption
                                                                                    of the obligation of performance thereunder
                                                                                    by the Seller;

 

		(5)	the benefit of Licensed IP Agreements,
                                                                  subject to assumption of the obligation of performance thereund
                                                                  er by the Seller;

 

		(6)	the Work-in-progress;

 

		(7)	all inventory
                                                                                    of consumable supplies of the Business as
                                                                                    of the Closing Time;

 

		(8)	the benefit
                                                                                    of the Prepaid Expenses;

 

		(9)	the Equipment;

 

		(10)	the lease
                                                                                     of the Premises;

 

		(11)	the Business
                                                                                     Records;

 

    	5

    	 

    

 

		(12)	all
                                                                                                                                                                                                 marketing
                                                                                                                                                                                                 and
                                                                                                                                                                                                 advertising
                                                                                                                                                                                                 materials
                                                                                                                                                                                                 relating
                                                                                                                                                                                                 to
                                                                                                                                                                                                 the
                                                                                                                                                                                                 Business,
                                                                                                                                                                                                 in
                                                                                                                                                                                                 any
                                                                                                                                                                                                 format
                                                                                                                                                                                                 and
                                                                                                                                                                                                 media
                                                                                                                                                                                                 whatsoever,
                                                                                                                                                                                                 and
                                                                                                                                                                                                 the
                                                                                                                                                                                                 right,
                                                                                                                                                                                                 title
                                                                                                                                                                                                 and
                                                                                                                                                                                                 interest
                                                                                                                                                                                                 of
                                                                                                                                                                                                 the
                                                                                                                                                                                                 Purchaser
                                                                                                                                                                                                 in
                                                                                                                                                                                                 the
                                                                                                                                                                                                 content
                                                                                                                                                                                                 thereof;

 

		(13)	the
                                                                                                                         telephone
                                                                                                                         numbers
                                                                                                                         of the
                                                                                                                         Business

 

		(14)	the
                                                                                                                         internet
                                                                                                                         domain
                                                                                                                         names
                                                                                                                         listed
                                                                                                                         on Schedule
                                                                                                                         6 attached
                                                                                                                         hereto;
                                                                                                                         and all
                                                                                                                         web sites
                                                                                                                         utilizing
                                                                                                                         such
                                                                                                                         domain
                                                                                                                         names,
                                                                                                                         including
                                                                                                                         the right
                                                                                                                         of the
                                                                                                                         Purchaser
                                                                                                                         in all
                                                                                                                         programs
                                                                                                                         and source
                                                                                                                         code
                                                                                                                         utilized
                                                                                                                         therein,
                                                                                                                         subject
                                                                                                                         to all
                                                                                                                         licenses
                                                                                                                         of content
                                                                                                                         therein.

 

		2.2	Excluded
                                                                                                                     Assets

Specifically excluded from the Purchased Assets are:

 

		(1)	None

 

		2.3	Additional
                                                                                                                                     Purchased
                                                                                                                                     Assets

In addition to the assets described above, Purchaser
acquires all receivables from Seller to so Holdings as of the day of Closing. 

 

		2.4	Assumed
                                                                                                                                                        Liabilities

(a)           The
Purchaser shall assume and will pay, perform, discharge and satisfy the following liabilities of the Purchaser relating to the
Business (the "Assumed Liabilities"):

 

		(1)	all
                                                                                                                         li a
                                                                                                                         bili
                                                                                                                         ties
                                                                                                                         and obligations
                                                                                                                         of the
                                                                                                                         Seller
                                                                                                                         accruing
                                                                                                                         on and
                                                                                                                         after
                                                                                                                         the Closing
                                                                                                                         Date
                                                                                                                         for future
                                                                                                                         performance
                                                                                                                         under
                                                                                                                         the Assumed
                                                                                                                         Contracts;

 

		(2)	commissions
                                                                                                       due to the employees of
                                                                                                       the Business in the normal
                                                                                                       course with respect to
                                                                                                       orders received and not
                                                                                                       invoiced by the Closing
                                                                                                       Date, and commissions due
                                                                                                       to the employees for invoices
                                                                                                       for maintenance invoiced
                                                                                                       prior to closing with a
                                                                                                       maintenance term beginning
                                                                                                       on or after October 1,
                                                                                                       2011 ; and

 

		(3)	any
                                                                                                       other liability or obligation
                                                                                                       provided elsewhere in this
                                                                                                       agreement to be assumed
                                                                                                       or performed by the Seller.

 

(b)           Without
ex panding on the specifici ty of the foregoing, Assumed Liabilities shall not include:

 

		(1)	any
                                                                                                       liabilities in respect
                                                                                                       of all indebtedness of
                                                                                                       the Purchaser to all persons
                                                                                                       except as otherwise specificall
                                                                                                       y provided in this agreement;

 

		(2)	any
                                                                                                      liabili ty claims relating
                                                                                                      to any product or service
                                                                                                      of the Business produced,
                                                                                                      sold, performed or delivered
                                                                                                      prior to the Closing Date;

 

		(3)	any liabilities for all taxes,
                                                                  duties. levies, assessments and other such charges, including
                                                                  any penalties, interests and fines with respect thereto, payable
                                                                  by the Purchaser to any federal, provincial, municipal or other
                                                                  government or governmental agency, authority, board, bureau
                                                                  or commission; domestic or foreign;

 

    	6

    	 

    

 

		(4)	liabilities for employment compensation
                                                                and reim bu rsement of expenses as provided by su bsection
                                                                7.5;

 

		2.5	Retained
                                                                                                                                     Liabilities
                                                                                                                                     and
                                                                                                                                     Indemnity

  The Purchaser will
not assume and will not be liable for, and the Seller will indemnify the Purchaser from and against, all obligations, comm i tments
and liabi lities of and claims against the Purchaser (whether absolute, accrued or contingent) relating to the Business prior
to the Closing Date, except for the Assumed Liabilities.

 

		2.6	Separation
                                                                                                                     of Assets
                                                                                                                     by
                                                                                                                     Purchaser

  On and subject to
the terms contained herein, the Purchaser hereby agrees to separate and sell and the Seller hereby agrees to purchase from the
Purchaser, the Separated Assets of the Business as a going concern, at the "Closing Day'· comprising the following:

 

		(1)	all
                                                                                                                      assets of
                                                                                                                      IntelliPRINT
                                                                                                                      and FewCl
                                                                                                                      ix product
                                                                                                                      lines, including
                                                                                                                      all liabilities,
                                                                                                                      all subsidiaries,
                                                                                                                      all IP rights
                                                                                                                      to products,
                                                                                                                      if owned
                                                                                                                      by SO Holdi
                                                                                                                      ngs or any
                                                                                                                      subsidiary,
                                                                                                                      comprising
                                                                                                                      but not
                                                                                                                      limited
                                                                                                                      to all copyright
                                                                                                                      and all
                                                                                                                      associated
                                                                                                                      all related
                                                                                                                      code, specifications,
                                                                                                                      documentation,
                                                                                                                      revisions,
                                                                                                                      enhancements
                                                                                                                      and modifications
                                                                                                                      thereto,
                                                                                                                      in whatever
                                                                                                                      f01m
                                                                                                                      and
                                                                                                                      media;

 

		(2)	al l of the trademarks to the IntelliPRINT
                                                               and FewCi ix product lines owned by SO Hold ings or its su bsidiaries;

 

		(3)	the benefit of
                                                                                 all rel ated Customer Contracts,;

 

		(4)	the
                                                                                                                     benefit of
                                                                                                                     the related
                                                                                                                     Other Contracts,;

 

		(5)	the benefit of
                                                                                 related Licensed IP Agreements;

 

		(6)	the related Work-in-progress;

 

		(7)	all inventory
                                                                                 of consumable supplies of the related Business
                                                                                 as of the Closing Time;

 

		(8)	t he benefit
                                                                                 of the related Prepaid Expenses;

 

		(9)	the related Equipment;

 

		(10)	the lease ofthe
                                                                                  Premises at Bishop Waller Ave, Malipore, Chennai;

 

		(11)	the related
                                                                                  Business Records;

 

    	7

    	 

    

 

		(12)	all marketing and advertising
                                                                   materials relating to the Business, in any format and media
                                                                   whatsoever, and the right, title and interest of the Purchaser
                                                                   in the content thereof;

 

		(13)	the telephone
                                                                                  numbers of the Business:

 

		(14)	the internet domain names listed
                                                                   on Schedule 6 attached hereto; and al l web sites utilizing
                                                                   such domain names, including the right of the Purchaser in
                                                                   all programs and source code utilized therein, subject to all
                                                                   licenses of content therein.

 

		(15)	all rights and
                                                                                  liabilities to the related employee contracts.

 

The Purchaser will provide
the Seller with support to create a new entity in India, registered as GBS I ndia Pri vate Limited at the address of the current
Indian operations and will transfer all Separated Assets prior to or upon payment of the Repurchase Price to this new entity.

 

		2.7	Repurchase
                                                                                of Assets by Seller

  On and subject to
the terms contained herein, the Purchaser hereby agrees to sell and the Seller hereby agrees to purchase from the Purchaser, the
Separated Assets of the Business as described in section 2.5 as a going concern, at the "Closing Day".

 

3           PURCHASE
AND REPURCHASE PRICE AND PAY MENT

 

		3.1	Purchase Price

The Purchase Price payable by the Purchaser to the
Seller for the Purchased Assets is $ L.877,232.48.

 

		3.2	Payment of
                                                                                Purchase Price

 

(a)          On
Closing, Purchaser shall pay to Seller a total amou nt of $1 ,877,232.48.

(b)           Purchaser
has the right to su bstitute any portion of the payment for the Purchase Price in cash by transfer of receivables from selling,
reselling or licensing of the Pu rchased Assets, provided however that this substitute payments exclude any rights or licenses
to the Separated Assets; and Seller has the obligation to accept such substitute as payment.

 

		3.3	Prepaid Expenses
                                                                                and Adjustments

Prepaid Expenses,
employee costs, and all other matters provided in this agreement to be paid by the Purchaser or Seller, which are assumed or retained
by the other, shall be adjusted and allowed between the Purchaser and Seller as of the Date of Closing, that day to be allocated
to the Seller. Any additional adjustments as are determined within ninety (90) days of closing shall be readjusted after such
period and paid by the benefiting party to the other party forthwith.

 

		3.4	Repurchase
                                                                                Price

The Repurchase Price payable by the Seller
to the Purchaser for the Separated Assets is $1,602,026.4 .

 

    	8

    	 

    

 

		3.5	Repurchase
                                                                                                                    Price Payment

(a)           On
Closing, Seller shall pay to Purchaser a total amount of $1,602,026.48.

(b)           30
days after the Closi ng Seller sha ll pay all outstand ing fees and expenses for the restructuring of SD Holdings Ltd. to Purchaser.

(c)           Seller
has the right, and Purchaser will accept, any balancing of outstanding payments due to Seller by Purchaser as payment to the Repurchase
Price.

 

4           CONDITIONS
PRECEDENT

 

The Purchaser acknowledges
that the Seller's main interest is the restruct uring of its Indian operations to simplify the corporate structure and offering
it utilizes to carry on business in Ind ia, and such restructuring will require the fu lfill ment all of the Conditions Precedent
to the Closi ng of this Agreement as described i n this section 4 herein, if not wai ved by the Seller in writing. Consequently,
the parties agree:

 

(1)            Notwithstanding
anythi ng herein contained, the obligation of the Sell er and the Purchaser to complete the transactions provided for herein will
be subject to the fulfillment of the following cond iti ons at or prior to the Closing Time:

 

		(i)	The formation of GBS Ind ia Private Limited is completed
                                                                  and the final transfer of all shares of GBS India Ptv Ltd wil
                                                                  l be at Closing.

		(ii)	All
                                                                                                                                                             assets
                                                                                                                                                             to
                                                                                                                                                             the
                                                                                                                                                             IntelliPrin
                                                                                                                                                             t
                                                                                                                                                             or
                                                                                                                                                             FewClix
                                                                                                                                                             business/product
                                                                                                                                                             lines
                                                                                                                                                             are
                                                                                                                                                             repurchased
                                                                                                                                                             by
                                                                                                                                                             the
                                                                                                                                                             Seller
                                                                                                                                                             or
                                                                                                                                                             by
                                                                                                                                                             an
                                                                                                                                                             affi
                                                                                                                                                             liate
                                                                                                                                                             to
                                                                                                                                                             the
                                                                                                                                                             Seller,
                                                                                                                                                             or
                                                                                                                                                             will
                                                                                                                                                             be
                                                                                                                                                             at
                                                                                                                                                             Closi
                                                                                                                                                             ng.

		(iii)	All
                                                                                                                          employees
                                                                                                                          for
                                                                                                                          the
                                                                                                                          lntelliPr
                                                                                                                          int
                                                                                                                          and
                                                                                                                          FewClix
                                                                                                                          product
                                                                                                                          lines,
                                                                                                                          as well
                                                                                                                          as for
                                                                                                                          all
                                                                                                                          GBS
                                                                                                                          related
                                                                                                                          QA activities
                                                                                                                          are
                                                                                                                          transferred
                                                                                                                          to GBS
                                                                                                                          India
                                                                                                                          Ptv
                                                                                                                          Ltd.

		(iv)	All employees for the
                                                                                                       Transformer business line
                                                                                                       and the GroupLi ve business
                                                                                                       line are transferred to
                                                                                                       GBS India Ptv. Ltd.

		(v)	The management of GBS
                                                                                                      India is in place and contracted
                                                                                                      for a period of 24 months

 

(2)            All
transfer documents regard i ng the Seller or its affiliates are completed and executed on the Closing Day. All outstanding payments
between the Parties, except for the fees and expenses for the restructuring service, will be paid or balanced at the Closing.

 

(3)            The
Purchasers expenses as described in section 11.4 are approved and accepted by the Seller.

 

5           TRANSACTION
STR UCTURE

 

The Purchaser acknowledges
that the Seller proposes to review the tax and business implications of the corporate structure it utilizes to carry on business
in India, and such may result in a requirement to restructure this transaction. Consequently, the parties agree:

 

    	9

    	 

    

 

(a)           Prior
to the Closing, Seller has the right and the obligation in its capaci ty as a representative of the SD Holdings board of directors
and its sole shareholder position of SD Holdings during the interim period.to execute independent,
separate contracts wi th third parties to achieve the primary goal of this agreement. Purchaser agrees to comply in full to these
contracts, if an y, as the future owner of SD Holdings Ltd. Seller guarantees that Purchaser wil l not be burden with unknown
cost or fees in any of these contracts, if any, or that these contracts, if any, will be i n conflict with the pri mary goal of
this agreement.

 

(b)           Seller
shall have the right to assign this agreement to a corporation or other entity wholly owned by or independent f rom the Seller.
Notwithstanding such assignment, the Seller shall remain liable for all obligations of contracts signed under section 5 (a) and
all obligations under this agreement, including and not limited to t he obligations to pay t he Repurchase Price.

 

(c)           Purchaser
will have the right to assign this agreement to a corporation or other entity not owned, controlled or affiliated with the Purchaser;
notwithstanding such assignment, the Purchaser shall remain liabl e for all obligations under this agreement.

 

(d)           Seller
will consent to any other form of reorgani zation or transaction structure that is proposed by Purchaser provided such reorgan
i zation is reasonable; it does not expose the Seller to any greater tax, business or financial risk than the transactions herein
provided; the Seller bears a ll additional costs associated therewi th, including any additional professional charges to Purchaser;

 

(e)           Seller
continues to be jointl y and severally liable for all obligations under this agreement; and Purchaser will receive a favorable
opinion from its professional advisors on those matters.

 

6           REPRESENTATIONS
AND WARRANTIES

 

		6.1	Representations
                                                                                                                     and Warranties

The Seller represents
and warrants to the Purchaser as hereafter set forth, and acknowledges that the Seller is rel ying upon the accuracy of each of
such representations and warranties in connection with the purchase of the Purchased Assets and the Repurchase of the Separated
Assets completion of the other transactions hereunder:

 

(a)           Status.
The Seller is a corporation d ul y incorporated and valid ly subsisting in all respects under
the laws of its j urisd iction of incorporation. The Seller has all necessary corporate power to own i ts properties and to carry
on i ts busi ness as it is now being conducted.

 

(b)           Corporate
Authority and Binding Obligation. The Seller has good right, full corporate power and absolute
authority to enter into this agreemen t and to sell, assign and transfer the Purchased Assets to the Seller in the manner contemplated
herein and to perform all of the Seller's obligations under this agreement. The Sell er and its board of directors have taken
all necessary or desirable actions, steps and corporate and other proceed ings to approve or authorize, validly and effectively,
the entering in to, and the execution, delivery and performance of, this agreement and the sale and transfer of the Purchased
Assets by the Seller to the Seller. This agreement is a legal, valid and bindin g obl igation of the Seller, enforceable against
the Seller in accordance with i ts terms subject to (i) bankruptcy, insol vency, moratorium,reorganization and other laws
relating to or affecting the enforcement of creditors' rights generall y, and (ii ) the fact that equitable remedies, including
the remedies of specific performance and injunction, may only be granted in the discretion of a court.

 

    	10

    	 

    

 

(c)           No
Other Purchase Agreements. No person has any agreement, option, understanding or comm itment, or any right or privilege
(whether by law, preemptive or contractual) capa ble of becoming an agreement, option or commitment, for the purchase or other
acquisition from the Seller of any of the Purchased Assets, or any rights or interest therein, other than in the ordinary course
of the Business.

 

(d)           Contractual
and Regulatory Approvals. Except as specified in Schedule 7 attached hereto, the Seller i s not under any obligation,
contractual or otherwise, to request or obtain the consent of any person, and no permits, licenses, certifications, authorizations
or approvals of, or notifications to, any federal, provincial, municipal or local government or governmental agency, board, commission
or authority are required to be obtained by the Seller in connection with the execution, delivery or performance by the Seller
of th i s agreement or the completion of any of the transactions contemplated herein.

 

(e)           Compliance
with Constating Documents, Agreements and Laws.The execution, deli very and performance of this agreement and each of the
other agreements contemplated or referred to herein by the Seller, and the completion of the transactions contemplated hereby,
wi l l not constit u te or n:sul t in a viol ation, breach or default, or cause the acceleration of any obligations which are
included in the Asstm1ed Lia bilities, under:

 

		(1)	any term or provision of any of the articles, by-laws or
                                                                  other constating documents of the Seller; or

		(2)	subject to obtaining the contractual
                                                                  consents referred to in Schedule 7 hereof, the terms
                                                                  of any indenture, agreement (written or oral), instrument or
                                                                  understanding or other obligation or restriction to which the
                                                                  Seller is a party or by which it is bound including, without
                                                                  limitation, any of the Assumed Contracts.

 

(a)           Title
to Assets. Except as set forth on Schedule 8, the Seller is contracted to sell, or is entitled to, or is the owner
of and has good and marketable title to all of the Purchased Assets, free of encumbrances, and no other person owns any assets
which are being used in the Business; except such t itle in the case of leases and licenses being limited to the rights of lessee
and licensee.

 

(b)           Customer
Contracts and Other Contracts.To the best of the Seller's knowledge, the Seller is not in default or breach of any of
its obligations under an y one or more of the Customer Contracts or Other Contracts, and there exists no state of facts which,
after notice or lapse of time or both, would constitute such a default or breach. To the best of the Seller's knowledge, all such
Customer Contracts and Other Contracts are now in good standing and in full force and effect without amendment thereto, the Seller
is entitled to all benefits thereunder and the other parties to such Customer Contracts and Other Contracts are not in default
or breach of any of their obligations thereunder. To the best of the Seller's knowledge, all agreements with customers of the
Business are contained in the customer files to be delivered to the Sel ler on closi ng and there
are no other agreements, contracts, commitments or waivers related thereto.

 

    	11

    	 

    

 

(c)           Intellectual
Property Rights. The Seller is contracted to sell, or is entitled to, or is the owner of the
copyright and all other rights of ownershi p to SD Holdings, and no other person has any i nterest or rights therein, save as
to user licenses granted to customers as provided under the description of Customer Contracts. There is no, and there has never
been any, claim, action or proceed ing i n existence or th reatened by any person claiming any interest or title therei n or that
the Seller is i nfringing the rights of any other person with respect to SD Holdings.

 

(d)           Licensed
IP Agreements. Schedu le 4 sets out an accurate and complete l ist and descripti on of al l
Licensed IP Agreements for intellectual property that is material to the Business. The Seller is not in default or breach of any
of its obligations u nder any of the Licensed IP Agreements, and there exists no state of facts which, after notice or lapse of
time or both, would constitute such a default or breach. All such License Agreements are now in good stand ing and in full force
and effect wi thout amendment thereto, the Seller is entitled to al l benefits thereunder and, to the best of the knowledge of
the Seller, the other parties to such License Agreements are not in default or breach of any of their obligations thereunder.
The Sell er is enti tled to assign all of its interest in the Licensed IP Agreements to the Seller, subject to obtaining any consents
referred to in Sched ul e 7 or making arrangements satisfactory to the Seller in that regard.

 

(e)           Copies
of Documents. On or before the end of the Due Diligence Period complete and cor rect copies
(incl uding all amendments) of all material contracts, leases and other documents of the Busi ness in possession of the Seller
have been del ivered or made available to the Sel l er.

 

(f)           Disclosure.
No representation or warranty contained in this section 6.1, and no statement contai ned in
any schedule, certificate, list, summary or other disclosure document provided or to be provided to the Seller pursuant hereto,
or in connection with the transactions contemplated hereby, contai ns or will contain any untnte statement of a material fact,
or to the k nowledge of the Seller omi ts or will omit to state any material fact which is necessary in order to make the statements
contained therein not misleading.

 

(g)           Conduct
of Business. As of the Time of Closing, d uring the Interim Period, except as contemplated by
this agreement or wi th the prior written consent of the Seller:

 

		(1)	Seller shall have operated the
                                                                  Business onl y in the ordinary course thereof, consistent with
                                                                  past practices;

		(2)	Seller shall
                                                                                    have prom ptly advised the Seller of any facts
                                                                                    that have come to Seller's attention which
                                                                                    would cause any of the Seller's representations
                                                                                    and warranties herein contained to be untrue
                                                                                    i n any material respect;

		(3)	Seller shall
                                                                                    have carried out its obligations under section
                                                                                    7.2

 

(h)           Employees.
There is no pension, benefit, profit sharing or other simi lar plan respecting the Assumed Employees
that will be bindi ng or the Seller. There is no collective bargaining agreement, either directly or by operation of law, with
any trade union or association which might qualify as a trade union.

 

    	12

    	 

    

 

		(i)	Lease
                                                                                                                                          of
                                                                                                                                          Premises.

		(1)	The
                                                                                                                                                                                                 Premises
                                                                                                                                                                                                 is
                                                                                                                                                                                                 the
                                                                                                                                                                                                 only
                                                                                                                                                                                                 real
                                                                                                                                                                                                 property
                                                                                                                                                                                                 utilized
                                                                                                                                                                                                 in
                                                                                                                                                                                                 the
                                                                                                                                                                                                 Business;

		(2)	The
                                                                                                       lease of the Premises and
                                                                                                       related documents attached
                                                                                                       hereto as Schedule 9 comprises
                                                                                                       the full and complete lease
                                                                                                       thereof and it is in full
                                                                                                       force and effect and unamended.

		(3)	All
                                                                                                      rental and other pay ments
                                                                                                      required to be paid by the
                                                                                                      Seller as tenant have been
                                                                                                      duly paid to date. Nu party
                                                                                                      to the lease is in breach
                                                                                                      thereund er and there has
                                                                                                      been no notice of default
                                                                                                      of termination.

 

		6.2	Disclaimer
                                                                                                                     Respecting
                                                                                                                     Seller's
                                                                                                                     Representations
                                                                                                                     and Warranties

The Seller acknowledges
that it is purchasing the Purchased Assets pursuant to this agreement on an "as is, where is" basis and, except for
the representations and warranties set out herein, the Seller does not make, nor is i t liable for, any representation, warranty
or condition of any kind whatsoever, express or implied, or legal , equitable, conventional, collateral or otherwise, including,
without limitation, any warranties or conditions or merchantability or fitness for a particular purpose. The Seller acknowledges
that is familiar wi th the Business and has had the opportunity to conduct a full investigation of the Business. In purchasing
the Purchased Assets and assuming the Assumed Liabilities pursuant to this agreement, the Seller acknowledges that it is rel ying
entirel y on its own knowledge, i nvestigations and judgment. In conducting its investigation of the Business, the Purchased Assets
and the Assumed Li abilities, and in considering the various factors relevant to such assets, rights and obligations, the Seller
has not relied on the judgment or any representations or warranties of the Seller or those of its agents, employees, officers,
directors, affiliates, advisors or other representatives, other than as set out in section 6.1 of this agreement.

 

		6.3	Representations
                                                                                                                     and Warranties
                                                                                                                     by the Purchaser

The Purchaser represents
and warrants to the Seller as fol lows, and acknowledges that the Seller is rel ying upon the accuracy of each of such representations
and warranties in connection with the sale of the Purchased Assets and the completion of the other transactions hereunder:

 

(a)           Status.
The Purchaser is a corporation dul y incorporated and validl y subsisting in all respects under
the laws of its jurisd ict ion of i ncorporation.

 

(b)           Corporate
Authority and Binding Obligation. The Purchaser has good right, full corporate power and absolute
authority to enter into this agreement and to purchase the Purchased Assets from the Purchaser in the manner contemplated herein
and to perform all of the Purchaser's obligations w1der this agreement. U pon waiver or fulfillment of the condition set forth
in subsection 8.1(g) the Purchaser and its shareholders and board of directors shall have taken all necessary or desirable actions,
steps and corporate and other proceedings to approve or authorize, valid ly and effectively, the entering into of, and the execution,
deli very and performance of, this agreement and the purchase of the Purchased Assets by the Purchaser from the Purchaser. This
agreement is a legal, valid and binding obligation of the Purchaser, enforceable against it in accordance with its terms subject
to bankruptcy, insolvency, moratorium, reorganization and other laws relating to or affecting the enforcement of creditors' rights
generally and the fact that equitable remedies, including the remedies of specific perfonnance and injunction, may only be granted
in the discretion of a court.

 

    	13

    	 

    

 

(c)           Contractual
and Regulatory Approvals. Subject only to and upon waiver or fulfillment of the condition set forth in subsection 8.1(e),
the Purchaser is not under any obligation, contractual or otherwise to request or obtain the consent of any person,
and no permits, licenses, certifications, authorizations or approvals of, or notifications to, any federal, provincial, municipal
or local government or governmental agency, board, commission or authority are required to be obtained by the Purchaser in connection
with the execution, delivery or performance by the Purchaser of this agreement or the completion of any of the transactions contemplated
herein.

 

(d)           Compliance
with Constating Documents, Agreements and Laws. The execution, delivery and performance of this agreement and each of the
other agreements contemplated or refened to herein by the Purchaser, and the completion of the transactions contemplated hereby,
will not constitute or result in a violation or breach of or default under:

 

		(1)	any term or
                                                                                    provision of any of the articles, by-laws
                                                                                    or other constating documents of the Purchaser;
                                                                                    or

		(2)	the terms of any indenture,
                                                                  agreement (written or oral), instrument or understanding or
                                                                  other obligation or restriction to which the Purchaser is a
                                                                  party or by which it is bound.

 

		6.4	Survival of
                                                                                Warranties by the
                                                                                Purchaser

The representations and
warranties made by the Purchaser and contained in this agreement, or contained in any document or cettificate given in order to
carry out the transactions contemplated hereby, will survi ve the closi ng of the purchase of the Purchased Assets provided for
herein and, notwithstanding such closing or any investigation made by or on behalf of the Purchaser or any other person or any
knowledge of the Purchaser or any other person, shall continue in full force and effect for the benefit of the Purchaser. No wananty
claim may be made or brought by the Purchaser after the date which is twelve (12) months following the Closing Date; provided
that any warranty claim which is based upon or relates to the title to the Purchased Assets or which is based upon intentional
misrepresentation or fraud by the Purchaser may be made or brought by the Purchaser at any time.

 

		6.5	Survival of
                                                                                Warranties by Purchaser

The representations and
wananties made by the Purchaser and contained in this agreement or contained in any document or certificate given in order to
carry out the transactions contemplated hereby will survive the closing of the purchase and sale of the Purchased Assets provided
for herein and, notwithstanding such closing or any investigation made by or on behalf of the Purchaser or any other person or
any knowledge of the Purchaser or any other person, shall continue in full force and effect for the benefit of the Purchaser,
provided that no warranty claim may be made or brought by the Purchaser after the date which is 12 months following the Closing
Date. 

  

    	14

    	 

    

 

7           COVENANTS
AND ADDITIONAL TERMS

 

		7.1	Confidential
                                                                                                                     Information

(a)           Until
the Closing Parties shall to keep in strict confidence and not use for any purpose other than completing the transactions provided
by this agreement any information supplied by or learned from Parties, and their respective advisors and agents, related to Patties
or to the Business, including and not limited to the assets, liabilities, customers, employees, plans, products, techniques and
finances of Parties. Excluded is any information in the public domain other than by breach of this or any other confidentiality
agreement or obl igation of any person

 

(b)           Parties
may disclose such i nformation as is relevant to lenders and equity partners to obtain necessary debt and equity financi ng, each
of whom shall receive such information in confidence on and subject to the terms hereof. At the request of Parties, Parties wi
ll supply Parties with a list of all such persons and organizations with con tact details and a brief summary of the information
supplied.

 

(c)           The
obligation of the Parties to keep confidential and not use any information does not apply to information which:

		(i)	becomes generally
                                                                                    available to the public other than as a result
                                                                                    of a disclosure by the Parties or its representatives
                                                                                    in violation of this agreemen t or any other
                                                                                    confidentiality agreement or obligation of
                                                                                    any person;

		(ii)	was avai
                                                                                     la ble to the Parties on a non-confidentia
                                                                                     l basis before its disclosure by the Parties;

		(iii)	becomes available to the Parties on a non-confidential
                                                                    basis from a source other than the Parties if such source
                                                                    is not bound by a confidentiality agreement wi th the Pa11ies

 

(d)           This
confidential ity obli gation:

		(i)	shal l continue following termination ofthis agreemen t
                                                                  in accordance with its terms;

		(ii)	shall cease
                                                                                     respecting the Business onl y as of the closing,
                                                                                     and shall otherwise continue with respect
                                                                                     to any matter other than the Business, such
                                                                                     as other matters respecting Part ies; and

		(iii)	is in addi
                                                                                      tion to and not i n substitution for any
                                                                                      other agreements respecting confidentiali
                                                                                      ty.

 

		7.2	Interim Period

Except
as contemplated by this agreement or with the prior written consent of the Seller, duri ng the Interim Period the Purchaser will:

 

(a)           operate
the Business only in the ordinary course thereof, consistent wi th past practices;

 

    	15

    	 

    

 

(b)           take
all commercially reasonable actions within their control to ensure that the representations and warranties in section 6.1 hereof
remain true and correct at the time of Cl osing, with the same force and effect as if such representations and warranties were
made at and as of the Closing Ti me, and to satisfy or cause to be satisfied the conditions in subsection 8.2(i) and subsection
8.2(1) hereof;

 

(c)           promptly
advise the Seller of any facts that come to its attention which would cause any of the Purchaser's representations and warranties
herein contained to be untrue in any respect;

 

(d)           take
all action to preserve the Purchased Assets and the Business and its goodwi ll and relationships with customers, su ppl iers and
others having deal ings with the Business, to keep avai lable the services of all employees of the Business and to maintain i
n full force and effect all agreements relat ing to the Business to which the Purchaser is a party, and take all other action
reasonably req uested by the Seller in order that the cond ition of the Business will not be impaired during the Interim Period;

 

(e)           promptly
advise the Seller in wntmg of any material adverse change 111 the condition of the Business
du ri ng the Interim Period;

 

(f)           maintai
n all of the tangible properties and assets of the Business in the same condition as they now exist, ordinary wear and tear excepted;

 

(g)           maintain
the Business Records in the ordinary course and record all transactions on a basis consistent wi th past practice;

 

(h)           not
create, i ncur or assume any encumbrance upon any of the Purchased Assets;

 

(i)           not
dispose of any of the Purchase Assets properties or assets of the Business except in the ordinary course of the Business;

 

U)           not
terminate or waive any right of substantial value of the Business;

 

(k)           maintain
the inventories of the Business in accordance with past practice;

 

(I)            keep in full force all of the current insurance policies
of the Business;

 

(m)           take
all actions within its control to ensure performance all of Purchaser's obligations falling due during the Interim Period under
all agreements relating to the Business to which the Purchaser is a party or by which it is bound;

 

(n)           not
enter into any agreement relating to the Business other than agreements made in the ordinary course of the Business consistent
with past practice;

 

(o)           not
increase, in any manner, the compensation or employee benefits of any of the employees of the Business, or pay or agree to pay
to any of them any pension, severance or termination amount or other employee benefit not req uired by any of the employee benefit
plans and programs referred to in the schedules attached hereto.

 

    	16

    	 

    

 

(p)           And
will separated the assets as described i n sect ion 2.5, restructure the SD Holdings operations and prepare the transfer of the
separated assets to GBS India upon Closi ng.

 

		7.3	Covenants
                                                                                                                                     by
                                                                                                                                     the
                                                                                                                                     Purchaser.

The Purchaser covenants to the Sel ler as follows:

 

(a)           Delivery
of Repurchased Assets. At the Closi ng Time, the Purchaser will del iver to the Seller good and marketable title to and exclusi
ve possession of the Repurchased Assets.

 

(b)           Removal
of Copies of Software. Forthwith after Closing the Purchaser will remove all copies of any of the Products and any other information
exclusive to the Business or compri si ng the Repurchased Assets stored or mai ntained on any com puter system under the control
of the Purchaser and destroy or erase any copies contained on any removable media. The Purchaser shall not be required to erase
or destroy any removable media that constitute backup or archives of other records the Purchaser wishes to retain, but shall take
reasonable steps to identify such med ia and ensure that they are maintained as confidential and that the portion contai ni ng
the copy of the Product and formation to be removed is not d isclosed, copied, released or delivered to any other person or used
by any person. The Purchaser will del i ver a certificate of compliance and status of the foregoing under signature of a senior
officer wi thin fourteen (14) days after Closing.

 

(c)           Further
Assurance. After Closing, at req uest and expense of Seller, Purchaser will execute and deliver such further assurances, deeds,
conveyances, bills of sale, assurances, transfers, assignment and any other documents, and take such actions, as Sel ler may reasonably
request to confirm the sale and transfer of the Purchased Assets to the Seller and establish the right of the Seller as owner
thereof and enti tled to al l benefit therefrom i n accordance with the tenor of this agreement.

 

		7.4	Covenants
                                                                                                                                     by
                                                                                                                                     the
                                                                                                                                     Seller

The Seller covenants to the
Purchaser that it will do or cause tube done the following:

(a)           Fulfillment
of Conditions Precedent.

 

		7.5	Announcements

No announcemen t
with respect to this agreement will be made by any party hereto without the prior approval of the other party and the existence
and the terms of this agreement will be kept confiden tial.The word ing and timing of all press releases and employee annou
ncements will be mutually agreed upon. The foregoing will not apply to any announcement by any party required in order to comply
with laws pertaining to timely disclosu re, provided that such party consults with the other parties before mak i ng any such
announcement. 

 

    	17

    	 

    

 

		7.6	Survival
                                                                                                                                     of
                                                                                                                                     Covenants

 

The covenants
of the Seller and Purchaser herein will survive the Closi ng and shall contin ue in full force and effect for the benefit of the
other.

 

8           CONDITIONS
AND TERMINATION OF AGREEMENT

 

		8.1	Conditions
                                                                                                                     to the Obligations
                                                                                                                     of the Seller
                                                                                                                     and the Purchaser

 

Notwithstanding anything
herein contained, the obligation of the Parties to complete the transactions provided for herein will be subject to the fu lfill
ment of the followi ng conditions at or prior to the Closing Time, or such other ti me as is specified in such condition (the
"Condition Date"). The Purchaser on the one part and the Seller on the other part, each covenant with the other
to use its commercially reasonabl e best efforts to ensure that such conditions are fulfilled to the extent that such ful fillment
is within the power of such party.

 

(a)           Accuracy
of Representations and Wananties and Performance of Covenants.

 The representations
and warranties of the Parties contained in this agreement or in any documents delivered in ord er to carry out the transactions
contemplated hereby will be true and accurate on the date hereof and at the Closing Time wi th the same force and effect as though
such representations and warranties had been made as of the Closing Time (regardless of the date as of which the information in
this agreement or any such schedule or other document made pursuant hereto is given). Tn addition, the Parties shall have complied
wi th a ll covenants and agreements herein agreed to be performed or caused to be performed by it at or prior to the Closing Time.

 

(b)           No
Restraining Proceedings. No order, decision or ruling of any comt, tri bunal or regulatory authority having jurisdiction shall
have been made, and no action or proceeding shall be pending or threatened which, in the opini on of counsel to the other Party,
is likel y to resu lt in an order, decision or ruli ng, to disallow, enjoi n or prohi bi t the sale of the Purchased Assets contemplated
hereby.

 

		8.2	Waiver or Termination
                                                                                by Purchaser

(a)           Non-fu
lfillment of Cond ition Termination Right. If any of the conditions for a Party's benefit are not fulfilled or complied with by
the Condi tion Date and not waived by the Party on or by the Condition Date, the Party may notify the other Party within five
(5) days of the Condition Date of the non-fu lfi llment and this agreement i s thereby terminated.

 

(b)           Effect
of Termination. In the event of term i nation under this section, the Seller and Purchaser shall be rel eased from all obli gations,
unless the condition or conditions which have not been fulfilled are reasonably capable of being fulfilled or caused the fulfilled
by such party and in which case the party shall not be released of liability related thereto.

 

    	18

    	 

    
  

9           CLOSING

 

		9.1	Closing
                                                                                                                     Arrangements

 

The transactions
contemplated herein shall be closed at the Closing Time at the offices of the Seller on or no later than five days after the fulfillment
of all Conditions Precedent.

 

10           INDEMNIFICATION

 

		10.1	Indemnity
                                                                                 by the Seller

(a)           The
Seller hereby agrees to indemnify and hold the Purchaser harmless from and against any claims, demands, actions, causes of action,
damage, loss, defici ency, cost, liability and expense which may be made or brought against the Purchaser or which the Purchaser
may suffer or incur as a result of, in respect of or arising out of:

 

		(1)	any
                                                                                                                                                                                         non-performance
                                                                                                                                                                                         or
                                                                                                                                                                                         non-fulfillment
                                                                                                                                                                                         of
                                                                                                                                                                                         any
                                                                                                                                                                                         covenant
                                                                                                                                                                                         or
                                                                                                                                                                                         agreement
                                                                                                                                                                                         on
                                                                                                                                                                                         the
                                                                                                                                                                                         part
                                                                                                                                                                                         of
                                                                                                                                                                                         the
                                                                                                                                                                                         Seller
                                                                                                                                                                                         contained
                                                                                                                                                                                         in
                                                                                                                                                                                         this
                                                                                                                                                                                         agreement
                                                                                                                                                                                         or
                                                                                                                                                                                         in
                                                                                                                                                                                         any
                                                                                                                                                                                         document
                                                                                                                                                                                         gi
                                                                                                                                                                                         ven
                                                                                                                                                                                         in
                                                                                                                                                                                         order
                                                                                                                                                                                         to
                                                                                                                                                                                         carry
                                                                                                                                                                                         out
                                                                                                                                                                                         the
                                                                                                                                                                                         transactions
                                                                                                                                                                                         contemplated
                                                                                                                                                                                         hereby;

 

		(2)	any
                                                                                                    misrepresentation, inaccuracy,
                                                                                                    incorrectness or breach of
                                                                                                    any representation or warranty
                                                                                                    made by the Seller contained
                                                                                                    in this agreement or conta
                                                                                                    ined in any document or cettificate
                                                                                                    gi ven in order to carry out
                                                                                                    the transactions contemplated
                                                                                                    hereby, and

 

		(3)	all
                                                                                                    costs and expenses including,
                                                                                                    without limitation, legal
                                                                                                    fees on a su bstantial indemnity
                                                                                                    basis, incidental to or in
                                                                                                    respect of the foregoing.

 

The obligations of
indem nification by the Seller pursuant to this section 10.1 will be subject to the limitations in this agreement with respect
to the survival of the representations and warranties; and the procedures respecting i ndemni ty claims herein provided.

 

11           GENERAL
CONTRACT TERMS

 

		11.1	Further Assurances

Each of the Purchaser
and the Seller hereby covenants and agrees that at any time and from time to time after the Closing Date it will, upon the req
uest of the others, do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered all such fmther
acts, deeds, assignments, transfers, conveyances and assurances as may be required for the better carrying out and performance
of all the terms of this agreement.

 

		11.2	Remedies
                                                                                                                                                                          Cumulative

The rights and remedies
of the parties under this agreement are cumulative and in addition to and not in substitution for any rights or remedies provided
by law. Any single or partial exercise by any party hereto of any right or remedy for defau lt or breach of any term, covenant
or condition of this agreement does not wai ve, al ter, affect or prejudice any other right or remedy to which such party may
be lawfu ll y entitled for the same defaul t or breach.

 

    	19

    	 

    
 

		11.3	Notices

(a)           Any
notice, designation, communication, request, demand or other document, required or permitted to be given or sent or del ivered
hereunder to any party hereto shall be in writing and shall be sufficiently given or sent or delivered if it is:

 

		(1)	delivered
                                                                                     personally to an officer or director of
                                                                                     such party;

		(2)	delivered in a sealed envelope addressed to the party at
                                                                   the notice address as provided below;

		(3)	sent by fax to the party to the attention of party addressed
                                                                   below, provided proof of receipt of transmission is obtained.

 

(b)           Notices
shall be sent to the following addresses or telecopy numbers:

 

In the case of the Seller:

 

GBS Enterpri ses Incorporated

USA

Attention: Joerg Ott

Fax:  +1
(404) 474 7256

 

In the case of the Purchaser:

Lotus Holding Ltd. Don House

30-31 Main Street

Gibraltar

Attention:  Ronald R. Durban

 

or to such other address or fax number as a party
may change by notice.

 

		11.4	Expenses of Parties

Seller shall bear
all expenses incurred in connection with this agreement including, without limitation, the charges for the restructuring services
at a rate of $525.00/hour, the cost for the formation of GBS India, all related third party fees necessary to accomplish the purpose
of this agreement. For any expenses exceeding a total amount of $75,000, the prior written consent from the Seller is mandatory
for the Seller to bear the cost.

 

		11.5	Assignment

Save as provided
herein the rights of the Seller hereunder shall not be assignable without the written consent of the Purchaser.

 

		11.6	Successors
                                                                                                                     and Assigns

This agreement shall
be binding upon and enure to the benefit of the parties hereto and their respecti ve successors and permitted assigns.Nothing
herein, express or implied, is intended to confer upon any person, other than the pat1ies hereto and their respective successors
and assigns, any rights, remedies, obligations or liabi I i ties under or by reason of this agreement.

 

    	20

    	 

    
 

		11.7	Entire
                                                                                                                      Agreement

This agreement and
the schedules referred to herein together with all ce11ificates, transfers, documents, agreements and instruments deli vered concurrently
with this agreement constitute the entire agreement between the parties hereto and su persede all prior agreements, representations,
warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied, with
respect to the subject matter hereof. None of the parties hereto shall be bound or charged with an y oral or written agreements,
representations, warranties, statements, promises, informati on, arrangements or understandings not specifically set forth in
this agreement or in the schedules, certificates, transfers, documents agreement and instruments delivered concwTentl y with this
agreement. The parties hereto fu rther acknowledge and agree that, in entering into this agreement and in delivering such sched
ules, certificates, transfers, documents, agreements and instruments, they have not in any way relied, and will not in any way
rely, upon any oral or written agreements, representations, warranties, statements, promises, information, arrangements or understandings,
express or implied, not specifically set forth in this agreement or in such schedules, certificates, transfers, documents, agreements
or instruments.

 

		11.8	Waiver

Any party hereto
which is entitled to the benefits ofthis agreement may, and has the right to, waive any term or condition hereof at any time on
or prior to the Closing Time; provided, however, that such waiver shall be evidenced by written instrument dul y executed on behalf
of such party.

 

		11.9	Amendments

No modification or
amendment to this agreement may be made unless agreed to by the

parties hereto in writing by their authori zed officers.

 

		11.10	Counterparts

This agreement may
be executed in several counterpmts, each of which so executed shall be deemed to be an original, and such counterparts together
shall constitute one instrument.

 

		11.11	Fax
                                                                                                                       and E-Mail
                                                                                                                       Execution

This agreement and
any document executed in furtherance of it up to the Time of Closing may be executed and delivered by fax transmission provided
a printed proof of transmission receipt i s obtained; or by scanned signature as a pdf file, which may be delivered by e-mail
to the customary e-mail address of the recipient provided no notice of non-delivery is transmitted back. Each party so delivering
a docw11ent shall provide an originall y si gned copy upon request forthwith thereafter.

 

(Signatures on next page)

 

    	21

    	 

    

 

(Signature
page of Purchase Agreement between Lotus Holding Ltd. as Purchaser and GBS Enterprises
Incorporated as Seller)

 

In witness whereof the parties hereto
have d ul y executed and delivered this agreement under hand of their duly authorized officers as of the day and year first written
above.

 

	Lotus Holding Ltd.	 
	 	 
	Per:	/s/ Ronald R. Durban	 
	Name: Ronald R. Durban	 
	 	 
	GBS Enterprises Incorporated	 
	 	 
	Per:	/s/ Joerg Ott	 
	Name: Joerg Ott	 
	Title: CEO

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