Document:

Exhibit 10.22

 Exhibit 10.22 
 Execution Copy 
  
  
  
 AGREEMENT AND
PLAN OF MERGER 
 DATED AS OF AUGUST
26, 2008 
 AMONG 
 TOUCHTUNES HOLDING CORPORATION, 
 NBM MERGER
SUB, INC. 
 a Texas corporation and a wholly-owned subsidiary of TouchTunes Music Corporation 
 NATIONAL BROADCAST MEDIA CORP., 
 a Texas corporation 
 AND 
 JAMES C. WEAVER, AS COMPANY SHAREHOLDERS’ REPRESENTATIVE

  
  
  

 TABLE OF CONTENTS 
  

							
	 	 	 	    	 	  	PAGE
	ARTICLE 1	    	THE MERGER	  	1
		 	SECTION 1.1.	    	THE MERGER	  	1
		 	SECTION 1.2.	    	CLOSING	  	2
		 	SECTION 1.3.	    	ACTIONS AT THE CLOSING	  	2
		 	SECTION 1.4.	    	EFFECTIVE TIME	  	3
		 	SECTION 1.5.	    	EFFECTS OF THE MERGER	  	3
		 	SECTION 1.6.	    	CERTIFICATE OF FORMATION AND BY-LAWS	  	3
		 	SECTION 1.7.	    	DIRECTORS AND OFFICERS OF SURVIVING CORPORATION	  	4
			
	ARTICLE 2	    	EFFECT ON THE CAPITAL STOCK OF THE CONSTITUENT
CORPORATIONS; EXCHANGE OF CERTIFICATES	  	4
		 	SECTION 2.1.	    	CONVERSION OF CAPITAL STOCK	  	4
		 	SECTION 2.2	    	ESTIMATED ADJUSTMENT AMOUNT	  	5
		 	SECTION 2.3.	    	EARN-OUT	  	7
		 	SECTION 2.4.	    	DISPUTE RESOLUTION	  	9
		 	SECTION 2.5.	    	APPRAISAL RIGHTS	  	9
		 	SECTION 2.6.	    	ADJUSTMENTS TO SHARE CONSIDERATION	  	10
		 	SECTION 2.7.	    	EXCHANGE PROCEDURES	  	10
		 	SECTION 2.8.	    	NO FURTHER OWNERSHIP RIGHTS	  	11
		 	SECTION 2.9.	    	OPTIONS	  	11
		 	SECTION 2.10.	    	RIGHT TO PURCHASE PARENT SERIES E PREFERRED STOCK	  	13
			
	ARTICLE 3	    	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	13
		 	SECTION 3.1.	    	ORGANIZATION AND STANDING	  	13
		 	SECTION 3.2.	    	CAPITAL STOCK; SUBSIDIARIES	  	14
		 	SECTION 3.3.	    	AUTHORITY; EXECUTION AND DELIVERY; ENFORCEABILITY	  	14
		 	SECTION 3.4.	    	NO CONFLICT; CONSENTS	  	15
		 	SECTION 3.5.	    	FINANCIAL STATEMENTS	  	15
		 	SECTION 3.6.	    	UNDISCLOSED LIABILITIES; INDEBTEDNESS	  	16
		 	SECTION 3.7.	    	ASSETS OTHER THAN REAL PROPERTY INTERESTS	  	16
		 	SECTION 3.8.	    	REAL PROPERTY	  	16
		 	SECTION 3.9	    	INTELLECTUAL PROPERTY	  	17
		 	SECTION 3.10.	    	CONTRACTS	  	20
		 	SECTION 3.11.	    	PERMITS	  	23
		 	SECTION 3.12.	    	INSURANCE	  	23
		 	SECTION 3.13.	    	TAXES	  	23
		 	SECTION 3.14	    	LITIGATION	  	24
		 	SECTION 3.15.	    	EMPLOYEE BENEFIT PLANS	  	25
		 	SECTION 3.16.	    	ABSENCE OF CHANGES OR EVENTS	  	26
		 	SECTION 3.17.	    	COMPLIANCE WITH LAWS	  	26
		 	SECTION 3.18.	    	EMPLOYEE AND LABOR MATTERS	  	27
		 	SECTION 3.19.	    	TRANSACTIONS WITH AFFILIATES	  	27
		 	SECTION 3.20.	    	CORPORATE NAME	  	28
		 	SECTION 3.21.	    	ACCOUNTS RECEIVABLE	  	28

  

 i 

							
		 	SECTION 3.22.	    	SUPPLIERS AND CUSTOMERS	  	28
		 	SECTION 3.23.	    	BROKERS	  	28
		 	SECTION 3.24.	    	ACCOUNTS; POWERS OF ATTORNEY; OFFICERS AND DIRECTORS	  	28
		 	SECTION 3.25.	    	EFFECT OF TRANSACTION	  	28
		 	SECTION 3.26.	    	CERTAIN BUSINESS PRACTICES	  	28
		 	SECTION 3.27.	    	NO FORMER BUSINESS	  	28
		 	SECTION 3.28.	    	DISCLOSURE	  	29
			
	ARTICLE 4	    	REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB	  	29
		 	SECTION 4.1	    	ORGANIZATION AND STANDING	  	29
		 	SECTION 4.2.	    	AUTHORITY; EXECUTION AND DELIVERY; ENFORCEABILITY	  	29
		 	SECTION 4.3	    	CAPITALIZATION	  	30
		 	SECTION 4.4.	    	NO CONFLICT; CONSENTS	  	30
		 	SECTION 4.5	    	FINANCIAL STATEMENTS	  	30
		 	SECTION 4.6	    	UNDISCLOSED LIABILITIES; INDEBTEDNESS	  	31
		 	SECTION 4.7	    	INTELLECTUAL PROPERTY	  	31
		 	SECTION 4.8	    	LITIGATION	  	32
		 	SECTION 4.9.	    	BROKERS	  	32
		 	SECTION 4.10.	    	ABSENCE OF CHANGES OR EVENTS	  	32
		 	SECTION 4.11.	    	COMPLIANCE WITH LAWS	  	32
		 	SECTION 4.12.	    	DISCLOSURE	  	32
			
	ARTICLE 5	    	CERTAIN COVENANTS	  	33
		 	SECTION 5.1.	    	CONDUCT OF BUSINESS	  	33
		 	SECTION 5.2.	    	ACCESS	  	35
		 	SECTION 5.3.	    	TAX MATTERS	  	36
		 	SECTION 5.4.	    	NOTICE OF CERTAIN EVENTS	  	37
		 	SECTION 5.5.	    	INSURANCE	  	37
		 	SECTION 5.6.	    	EXCLUSIVITY	  	37
		 	SECTION 5.7.	    	SHAREHOLDER APPROVAL; NOTICES TO SHAREHOLDERS; RELEASE	  	37
		 	SECTION 5.8.	    	DELIVERY OF MONTHLY FINANCIAL STATEMENTS	  	38
		 	SECTION 5.9.	    	SATISFACTION OF CONDITIONS INCLUDING CONSENTS	  	38
			
	ARTICLE 6	    	MUTUAL COVENANTS	  	39
		 	SECTION 6.1.	    	COMMERCIALLY REASONABLE EFFORTS	  	39
		 	SECTION 6.2.	    	EXPENSES	  	39
			
	ARTICLE 7	    	CONDITIONS PRECEDENT	  	39
		 	SECTION 7.1.	    	CONDITIONS TO EACH PARTY’S OBLIGATION	  	39
		 	SECTION 7.2.	    	CONDITIONS TO PARENT’S OBLIGATION	  	40
		 	SECTION 7.3.	    	CONDITIONS TO THE COMPANY’S OBLIGATION	  	42
			
	ARTICLE 8	    	INDEMNIFICATION	  	43
		 	SECTION 8.1.	    	INDEMNIFICATION OF PARENT	  	43
		 	SECTION 8.2.	    	INDEMNIFICATION OF COMPANY SHAREHOLDER INDEMNIFIED PARTIES	  	44
		 	SECTION 8.3.	    	INDEMNIFICATION CLAIMS	  	44
		 	SECTION 8.4.	    	TAX INDEMNIFICATION	  	45

  

 ii 

							
		 	SECTION 8.5.	    	TERMINATION OF INDEMNIFICATION	  	47
		 	SECTION 8.6.	    	NO RIGHT OF CONTRIBUTION	  	47
			
	ARTICLE 9	    	TERMINATION	  	47
		 	SECTION 9.1.	    	TERMINATION	  	47
		 	SECTION 9.2.	    	EFFECT OF TERMINATION	  	48
			
	ARTICLE 10	    	GENERAL PROVISIONS	  	48
		 	SECTION 10.1.	    	NOTICES	  	48
		 	SECTION 10.2.	    	DEFINITIONS	  	49
		 	SECTION 10.3.	    	DESCRIPTIVE HEADINGS; CERTAIN INTERPRETATIONS	  	57
		 	SECTION 10.4.	    	COMPANY SHAREHOLDERS’ REPRESENTATIVE	  	57
		 	SECTION 10.5.	    	ASSIGNMENT	  	58
		 	SECTION 10.6.	    	SPECIFIC ENFORCEMENT	  	59
		 	SECTION 10.7.	    	WAIVER AND AMENDMENT	  	59
		 	SECTION 10.8.	    	ENTIRE AGREEMENT	  	59
		 	SECTION 10.9.	    	NO THIRD-PARTY BENEFICIARIES	  	59
		 	SECTION 10.10.	    	COUNTERPARTS	  	59
		 	SECTION 10.11.	    	GOVERNING LAW; JURISDICTION; VENUE; SERVICE OF PROCESS; WAIVER
OF JURY TRIAL	  	59
		 	SECTION 10.12.	    	SEVERABILITY	  	60
		 	SECTION 10.13.	    	CURRENCY	  	60
		 	SECTION 10.14.	    	TRANSACTION COSTS	  	60

 EXHIBITS: 
  

			
	EXHIBIT A	  	FORM OF ESCROW AGREEMENT
	EXHIBIT B	  	FORM OF AMENDED INVESTORS’ RIGHTS AGREEMENT
	EXHIBIT C	  	FORM OF AMENDED RIGHT OF FIRST REFUSAL AND
CO-SALE AGREEMENT
	EXHIBIT D	  	FORM OF AMENDED VOTING AGREEMENT
	EXHIBIT E	  	FORM OF EMPLOYMENT AGREEMENT FOR ROBERT WEINSCHENK
	EXHIBIT F	  	CLOSING CONSIDERATION CERTIFICATE
	EXHIBIT G	  	PARENT AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
	EXHIBIT H	  	FORMS OF RELEASE
	EXHIBIT I	  	FORM OF OPINION OF PHILLIPS & REITER LAW FIRM,
PLLC
	EXHIBIT J	  	FORM OF SHAREHOLDER WRITTEN CONSENT

 SCHEDULES: 
 COMPANY DISCLOSURE SCHEDULES 
 PARENT DISCLOSURE
SCHEDULES 
  

 iii 

 INDEX OF DEFINED TERMS 
  

			
	368(a) Reorganization	  	36
	Accounting Firm	  	9
	Adjustment Amount	  	7
	Affiliate	  	49
	Agreement	  	1
	Amended Investors’ Rights Agreement	  	2
	Amended Right of First Refusal and Co-Sale Agreement	  	2
	Amended Voting Agreement	  	2
	Ancillary Agreements	  	3
	Annual Financial Statements	  	16
	Appraisal Shares	  	10
	Appraisal Statute	  	10
	Assets	  	16
	Barfly Screen	  	49
	Benefit Agreement	  	50
	Budget and Operating Plan	  	34
	Business Day	  	50
	Capital Stock	  	50
	Certificate	  	5
	Closing	  	2
	Closing Balance Sheet	  	6
	Closing Consideration Certificate	  	3
	Closing Date	  	2
	Closing Date Net Working Capital	  	6
	Closing Date Statement	  	6
	COBRA	  	50
	Code	  	50
	Company	  	1
	Company Common Shares	  	2
	Company Disclosure Schedules	  	50
	Company Intellectual Property	  	20
	Company Material Adverse Effect	  	50
	Company Preferred Shareholder	  	2
	Company Preferred Shares	  	2
	Company Products	  	19
	Company Shareholder Approval	  	50
	Company Shareholders	  	1
	Company Shareholders’ Representative	  	57
	Company Stock Plans	  	12
	Company Transaction Expenses	  	50
	Consideration Reduction	  	7
	Constitutive Documents	  	50
	Contract	  	51
	Conversion Ratio	  	5
	Copyrights	  	53
	Credit Facility	  	58
	Disclosure Statement	  	37
	Disputed Items	  	7
	Earn-Out	  	7
	Earn-Out Amount	  	7
	Earn-Out Notice of Objection	  	8
	Earn-Out Period	  	51
	Earn-Out Restricted Stock Award	  	12
	Earn-Out Statement	  	8
	Effective Time	  	3
	Employee	  	51
	Employee Benefit Plan	  	51
	Employment Agreement	  	3
	Environmental Law	  	51
	Environmental Liability	  	51
	Environmental Permits	  	52
	ERISA	  	52
	Escrow Agent	  	52
	Escrow Agreement	  	2
	Escrow Amount	  	52
	Estimated Closing Date Net Working Capital	  	5
	Extraordinary Transaction	  	9
	Extraordinary Transaction Notice	  	9
	Final Estimated Closing Date Net Working Capital	  	6
	Financial Statements	  	16
	GAAP	  	16
	Governmental Entity	  	52
	Hazardous Materials	  	52
	Indebtedness	  	52
	Indemnified Party	  	53
	Indemnifying Party	  	53
	Intellectual Property	  	53
	Interim Financial Statements	  	16
	Investors’ Rights Agreement	  	2
	IP Proceeding	  	53
	JAMS Rules	  	60
	Knowledge	  	54
	Law	  	54
	Leased Property	  	16
	Legal Restraints	  	40

  

 iv 

			
	Letter of Transmittal	  	10
	Liability	  	54
	Losses	  	54
	Major Company Common Shareholder	  	2
	Marks	  	53
	Material Contract	  	21
	Merger	  	1
	Merger Sub	  	1
	Monthly Financial Statements	  	38
	Net Advertising Revenue	  	54
	Net Working Capital	  	54
	Nondisclosure Agreement	  	36
	Notice of Objection	  	6
	Open Source Materials	  	55
	Option	  	55
	Option Consideration	  	12
	Option Holder	  	55
	Order	  	55
	Ordinary Course of Business	  	55
	Outside Date	  	47
	Parent	  	1, 5
	Parent Common Stock	  	3
	Parent Indemnified Party	  	43
	Parent Material Adverse Effect	  	55
	Parent Series D Preferred Stock	  	3
	Parent Series E Preferred Stock	  	13
	Parent Stock Value	  	55
	Parties	  	1
	Patents	  	53
	Permit	  	23
	Permitted Liens	  	55
	Person	  	55
	Pre-Closing Tax Period	  	55
	Proceeding	  	56
	Proprietary Information	  	56
	Real Estate Asset	  	56
	Release	  	38
	Representative	  	56
	Restricted Stock	  	56
	Roll-Over Option Agreement	  	12
	Roll-Over Options	  	12
	Seller Indemnified Party	  	44
	Seller Indemnity Threshold	  	43
	Series E Closing	  	13
	Series E Purchase Agreement	  	13
	Series E Purchase Price	  	13
	Series E Purchase Right	  	13
	Share Consideration	  	4
	Shrink-wrap Licenses	  	18
	Software	  	56
	Straddle Period	  	46
	Subsidiary	  	56
	Surviving Corporation	  	1
	Tax	  	56
	Tax Claim	  	46
	Tax Return	  	57
	TBOC	  	1
	Texas Certificate of Merger	  	2
	Texas Secretary of State	  	2
	Third Party Claim	  	57
	Transaction Agreements	  	57
	Voting Company Debt	  	14
	Written Consent	  	48

  

 v 

	
	 AGREEMENT AND PLAN OF MERGER dated as of
August 26, 2008 (this “Agreement”), among TOUCHTUNES HOLDING CORPORATION, a company organized under the laws of the State of Delaware (“Parent”), NBM
Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of TouchTunes Music Corporation (“Merger Sub”), NATIONAL BROADCAST MEDIA CORP., doing business as
BARFLY INTERACTIVE NETWORKS, a Texas corporation (the “Company”), and JAMES C. WEAVER, as COMPANY SHAREHOLDERS’
REPRESENTATIVE.

 INTRODUCTION 
 The Board of Directors of the Company, on the terms and subject to the conditions set forth in this Agreement, has (i) determined that the merger of
Merger Sub with and into the Company (the “Merger”) is advisable and in the best interests of the Company and its shareholders (the “Company Shareholders”), (ii) approved and adopted in all respects this
Agreement, the Merger and the transactions contemplated hereby and the other Transaction Agreements, and (iii) recommended approval and adoption by the Company Shareholders of this Agreement, the Merger and the transactions contemplated hereby
and the other Transaction Agreements. As a result of the Merger, each issued and outstanding share of Capital Stock of the Company will be converted into the right to receive the consideration provided in this Agreement. Parent, Merger Sub, the
Company and Company Shareholders’ Representative are sometimes referred to herein collectively as the “Parties.” 
 For
U.S. federal income tax purposes, it is intended that (i) the Merger qualify as a reorganization under the provisions of Section 368 of the Code, and the rules and regulations promulgated thereunder and (ii) this Agreement shall
constitute a plan of reorganization within the meaning of Treasury Regulation Section 1.368-(2)(g). 
 The Boards of Directors of Parent
and Merger Sub have approved this Agreement, the Merger and the transactions contemplated hereby and the other Transaction Agreements to which Parent or Merger Sub, as the case may be, is a party. 
 In consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, the Parties agree as
follows: 
 ARTICLE 1 
 THE MERGER 
 Section 1.1. The Merger. Upon the terms and subject to
the conditions set forth in this Agreement, and in accordance with the Texas Business Organizations Code (the “TBOC”), at the Effective Time, Merger Sub shall be merged with and into the Company. At the Effective Time, the separate
corporate existence of Merger Sub shall cease and the Company shall continue as the surviving corporation (the “Surviving Corporation”). At the election of Parent, any direct or indirect wholly owned Subsidiary of Parent may be
substituted for Merger Sub as a constituent corporation in the Merger. In such event, the Parties shall execute an appropriate amendment to this Agreement in order to reflect the foregoing. 
  

 1 

 Section 1.2. Closing. The closing of the Merger (the “Closing”) shall be
held at the offices of Covington & Burling LLP, The New York Times Building, 620 Eighth Avenue, New York, New York, at 10:00 a.m. on the date as soon as practicable, and in any event not later than two (2) Business Days, following
satisfaction of all conditions and taking of all other actions (other than those that by their terms are to be satisfied or taken at the Closing, but subject to the satisfaction or taking thereof) set forth in Article 7 (or, to the extent permitted
by Law, waived by the Parties entitled to the benefits thereof), or on such other date, and at such other time or place, as Parent and the Company may mutually agree in writing. The date on which the Closing occurs is referred to in this Agreement
as the “Closing Date” 
 Section 1.3. Actions at the Closing. At the Closing: 
 (a) the Parties shall cause articles of merger in customary form and executed in accordance with (i) the relevant provisions of the TBOC (the
“Texas Articles of Merger”), and (ii) other appropriate documents to be filed in the office of the Secretary of State of the State of Texas (the “Texas Secretary of State”); 
 (b) Parent, Merger Sub and the Company shall make all other filings or recordings required under the TBOC and applicable Law to give effect to the Merger
and the other transactions contemplated hereby; 
 (c) the Company shall deliver or cause to be delivered to Parent: 
 (i) the Escrow Agreement, substantially in the form of Exhibit A (the “Escrow Agreement”), duly executed by the
Company and the Company Shareholders’ Representative; 
 (ii) the Amended and Restated Investors’ Rights Agreement
(the “Investors’ Rights Agreement”), between Parent and the parties listed therein, substantially in the form of Exhibit B (the “Amended Investors’ Rights Agreement”), duly executed by each holder
(each a “Company Preferred Shareholder”) of shares of preferred stock, par value $0.001 per share, of the Company (the “Company Preferred Shares”) and holders (each a “Major Company Common
Shareholder”) of more than 500,000 shares of common stock, par value $0.001 per share, of the Company (the “Company Common Shares”), pursuant to which each of the Company Preferred Shareholders and Major Company Common
Shareholders shall become a party to such agreement and a “Holder” (as defined in such agreement); 
 (iii)
the Amended and Restated Right of First Refusal and Co-Sale Agreement, between Parent and the parties listed therein, substantially in the form of Exhibit C (the “Amended Right of First Refusal and Co-Sale Agreement”), duly
executed by each Company Preferred Shareholder and Major Company Common Shareholder, pursuant to which each of the Company Preferred Shareholders and Major Company Common Shareholders shall become a party to such agreement and a
“Stockholder” (as defined in such agreement); 
 (iv) the Amended and Restated Voting Agreement, between
Parent and the parties listed therein, substantially in the form of Exhibit D (the “Amended Voting Agreement”, and together with the Amended Investors’ Rights Agreement and the 

  

 2 

 
Amended Right of First Refusal and Co-Sale Agreement, the “Ancillary Agreements”), duly executed by each Company Preferred Shareholder and
Major Company Common Shareholder, pursuant to which each of the Company Preferred Shareholders and Major Company Common Shareholders shall become a party to such agreement and a “Stockholder” (as defined in such agreement);

 (v) Employment agreement, substantially in the form of Exhibit E (the “Employment Agreement”), duly
executed by Robert Weinschenk; and 
 (vi) a certificate (the “Closing Consideration Certificate”) of the
Company, dated the Closing Date, in substantially the form attached hereto as Exhibit F, setting forth, among other items, (A) the maximum Share Consideration to be paid to each Company Shareholder pursuant to Section 2.1(b) and the
maximum Option Consideration to be paid to holders of Company Options pursuant to Section 2.9(a), (B) the Share Consideration and Option Consideration to be paid to each Company Shareholder and Option Holder, respectively, at the Closing,
(C) the Share Consideration per Company Shareholder constituting the Escrow Amount and the maximum potential Earn-Out Amount, (D) the Option Consideration per Option Holder constituting the Escrow Amount and the Earn-Out Restricted Stock
Award per Roll-Over Option holder under Section 2.9(c), and (E) the percentage of any negative Net Working Capital allocable to each Company Shareholder and Option Holder. 
 (d) Parent shall deliver or caused to be delivered to the Company (or the Company Shareholders’ Representative): 
 (i) each Ancillary Agreement, duly executed by Parent and, in the case of the Amended Investors’ Rights Agreement, by the
holders of a majority of the Registrable Securities (as defined in the Investors’ Rights Agreement); 
 (ii) Employment Agreement with Robert Weinschenk, duly executed by Parent or one of its Subsidiaries. 
 (e) Parent shall issue
in the name of the Escrow Agent, and place in escrow, certificates of common stock, par value $0.001 per share, of Parent (the “Parent Common Stock”) and certificates of Series D Preferred Stock, par value $0.001 per share, of
Parent (the “Parent Series D Preferred Stock”), representing the aggregate Escrow Amount, in accordance with the Closing Consideration Certificate. 
 Section 1.4. Effective Time. The Merger shall become effective at such time (the “Effective Time”) as the Texas Articles of Merger are duly filed with the Texas Secretary of State or at
such later time as Parent and the Company shall agree and specify in the Texas Articles of Merger. 
 Section 1.5. Effects of the
Merger. The Merger shall have the effects set forth in Section 10.008 of the TBOC. 
 Section 1.6. Certificate of Formation
and By-laws. The Certificate of Formation of the Surviving Corporation shall be amended and restated, as of the Effective Time, so as to read the same as the Certificate of Formation of Merger Sub as in effect immediately prior to the Effective
Time, except that the name of the corporation set forth therein shall be changed to the name of the Company and any references therein to the incorporator and the initial directors shall be deleted, and, as so amended, such Amended and Restated
Certificate of 

  

 3 

 
Formation shall be the Certificate of Formation of the Surviving Corporation until thereafter changed or amended as provided therein or by applicable Law.
The By-laws of Merger Sub as in effect immediately prior to the Effective Time shall be the By-laws of the Surviving Corporation until amended, except that the name of the corporation set forth therein shall be changed to the name of the Company.

 Section 1.7. Directors and Officers of Surviving Corporation. The directors of Merger Sub immediately prior to the Effective
Time shall be the directors of the Surviving Corporation, until the earlier of their resignation or removal or until their respective successors are duly elected or appointed and qualified, as the case may be. The officers of Merger Sub immediately
prior to the Effective Time shall be the officers of the Surviving Corporation, until the earlier of their resignation or removal or until their respective successors are duly elected or appointed and qualified, as the case may be. 
 ARTICLE 2 
 EFFECT
ON THE CAPITAL STOCK OF THE CONSTITUENT CORPORATIONS; 
 EXCHANGE OF CERTIFICATES 
 Section 2.1. Conversion of Capital Stock. At the Effective Time, by virtue of the Merger and without any action on the part of the holder of any shares of Capital Stock of the Company or any shares of Capital Stock of Merger
Sub: 
 (a) Cancellation of Capital Stock of Merger Sub; Treasury Stock. 
 (i) Each share, if any, of Capital Stock of the Company that is held by the Company as treasury stock or owned by the Company shall no
longer be outstanding and shall be automatically cancelled and retired and shall cease to exist and no consideration shall be delivered or deliverable in exchange therefor. 
 (ii) Each issued and outstanding share of Capital Stock of Merger Sub shall be converted into and shall become one fully paid and
nonassessable share of common stock, par value $0.001 per share, of the Surviving Corporation. 
 (b) Conversion of the Company Shares.
Subject to Sections 1.3(e), 2.2, 2.3 and 2.5, Company Shareholders shall be entitled to receive an aggregate of up to 7,596,168 shares of Parent Common Stock and an aggregate of up to 7,498,814 shares of Parent Series D Preferred Stock
(collectively, the “Share Consideration”), pro rata among the holders of the respective applicable classes of Capital Stock of the Company in accordance with the provisions of clauses (b)(i) and (b)(ii) below. The Share
Consideration which each such holder shall be entitled to receive shall be set forth opposite each such holder’s name on the Closing Consideration Certificate. To the extent that there is any discrepancy between any amount set forth on the
Closing Consideration Certificate and any amount that might be determinable pursuant to the Conversion Ratio formulas set forth in this Section 2.1(b), the Closing Consideration Certificate shall control. The Share Consideration shall be
subject to reduction based on negative Net Working Capital (including reductions for Company Transaction Expenses), if any, in accordance with Section 2.2 and the Escrow Amount in accordance with Section 8.1 and the Escrow Agreement.

 (i) Each issued and outstanding Company Common Share held by a Company Shareholder shall be converted into and shall
become, by virtue of the Merger 

  

 4 

 
and without any further action by the holder thereof, the right to receive the number of shares of Parent Common Stock determined by multiplying such Company
Common Share by the Conversion Ratio. The “Conversion Ratio” shall be the number obtained by dividing (A) 162,044,407 by (B) the sum of (1) the shares of Company Common Stock outstanding immediately prior to the
Effective Time, (2) the number of shares of Company Common Stock issuable upon conversion of the Company Preferred Stock outstanding immediately prior to the Effective Time, and (3) the number of shares of Company Common Stock issuable
upon the exercise of Options, whether or not such Options are vested, outstanding immediately prior to the Effective Time (provided, that such number shall not include any such shares subject to Options that the Company terminates on or prior to the
Effective Time under Section 2.9(a)(i)). 
 (ii) Each issued and outstanding Company Preferred Share held by a Company
Shareholder shall be converted into and shall become, by virtue of the Merger and without any further action by the holder thereof, the right to receive the number of shares of Parent Series D Preferred Stock determined by multiplying such Company
Preferred Share by the Conversion Ratio. 
 (iii) No fractional share shall be issued in the Merger, including as a result of
an adjustment under Section 2.2(a). All fractional Parent Common Shares and shares of Parent Series D Preferred Stock to which a Company Shareholder would otherwise be entitled shall be cancelled and such Company Shareholder shall be entitled
to receive cash in lieu thereof based upon the Parent Stock Value. 
 (iv) With respect to each Company Common Shareholder
whose Company Common Shares are subject at the Effective Time to restrictions constituting a risk of forfeiture under Section 83 of the Code, the terms of such restrictions shall, as a condition to receipt of Parent Common Stock, be modified to
provide for the same vesting restrictions on the Parent Common Stock received in the Merger as are set forth in such shareholder’s agreement with the Company. 
 (v) Prior to the Effective Time, Parent shall file an amended and restated certificate of incorporation (the “Parent Amended and
Restated Certificate of Incorporation”), in substantially the form attached hereto as Exhibit G.  
 (c) Effect on Capital
Stock. At the Effective Time, all shares of Capital Stock of the Company shall no longer be outstanding and shall automatically be cancelled and retired and shall cease to exist, and each holder of a certificate that immediately prior to the
Effective Time represented any such shares (a “Certificate”) shall cease to have any rights with respect thereto, except the right to receive the Share Consideration upon surrender of such Certificate in accordance with
Section 2.1(b) or, in the case of Company Shareholders exercising their appraisal rights under the Appraisal Statute, the amount prescribed under Section 2.5 hereof. 
 Section 2.2. Estimated Adjustment Amount. 
 (a) The Share Consideration shall be reduced based on any negative Net Working Capital, which calculation shall include any unpaid liabilities related to Company Transaction Expenses. At least five (5) Business
Days prior to the Closing Date, the Company shall deliver to Parent a statement setting forth its good faith estimate of the Net Working Capital as of the Closing Date (the “Estimated Closing Date Net Working Capital”). The
Estimated Closing Date 

  

 5 

 
Net Working Capital shall be determined in accordance with GAAP, using the same accounting principles, practices, methodologies and policies as were used in
the preparation of the Company Financials (to the extent such accounting principles, practices, methodologies and policies are in conformity with GAAP), shall include liabilities related to Company Transaction Expenses, but shall not include any
changes in assets or liabilities as a result of purchase accounting adjustments or other changes arising from or resulting as a consequence of the transactions contemplated hereby. The Company shall provide Parent and its Representatives access to
review and make copies of all working papers, schedules, books and records and personnel and shall provide to Parent information supporting such calculation of the Estimated Closing Date Net Working Capital in reasonable detail. If Parent disputes
the Estimated Closing Date Net Working Capital amount (or any portion thereof) at any time prior to the Closing Date, then Parent and the Company will negotiate in good faith to resolve such dispute at or prior to the Closing Date. To the extent the
Company and Parent cannot agree upon the Estimated Closing Date Net Working Capital prior to the Closing Date, then the Estimated Closing Date Net Working Capital shall be deemed to be equal to one-half of the sum of the Company’s and
Parent’s calculation of the Estimated Closing Date Net Working Capital (the Estimated Closing Date New Working Capital as finally determined in accordance with this Section 2.2(a), the “Final Estimated Closing Date Net
Working Capital”). The number of shares of Parent Common Stock and Parent Series D Preferred Stock issuable under Section 2.1(b) and the number of shares of Parent Common Stock subject to Roll-Over Options under Section 2.9(b)
shall be reduced by a number of shares of Parent Common Stock or Parent Series D Preferred Stock, as the case may be, equal to the sum of, (A)(1)any amount by which the Final Estimated Closing Date Net Working Capital is negative plus
(2) the amount of any Company Indebtedness at Closing, divided by (B) the Parent Stock Value, rounded down to the nearest whole share. 
 (b) Within 120 days following the Closing Date, Parent shall cause to be prepared and delivered to the Company Shareholders’ Representative (i) an unaudited consolidated balance sheet of the Company as at
the Closing Date (the “Closing Balance Sheet”) and (ii) a statement prepared in accordance with this Section 2.2 (the “Closing Date Statement”) setting forth the calculation of Net Working
Capital as derived from the Closing Balance Sheet (the “Closing Date Net Working Capital”). The Closing Balance Sheet shall be prepared, and the Closing Date Net Working Capital shall be determined in accordance with GAAP
using the same accounting principles, practices, methodologies and policies as were used in the preparation of the Company Financials (to the extent such accounting principles, practices, methodologies and policies are in conformity with GAAP) and
shall not include any changes in assets or liabilities as a result of purchase accounting adjustments or other changes arising from or resulting as a consequence of the transactions contemplated hereby. 
 (c) Except for the consummation of the Closing and the other transactions contemplated hereby, Parent and the Company agree that on the Closing Date the
business and operations of the Company shall be conducted in the ordinary course in a manner substantially consistent with past practice. Unless Company Shareholders’ Representative notifies Parent in writing within thirty (30) days after
Parent’s delivery of the Closing Balance Sheet and the Closing Date Statement of any objection to the computation of the Closing Date Net Working Capital set forth therein (the “Notice of Objection”), the Closing Balance
Sheet and the Closing Date Statement shall be final and binding for all purposes hereunder. During such 30-day period, the Company Shareholders’ Representative shall be permitted to have access to, to review and to make copies of all relevant
working papers, schedules, memoranda and other 

  

 6 

 
documents prepared by Parent and its Representatives relating to the Closing Balance Sheet and the Closing Date Statement. Any Notice of Objection shall
specify in reasonable detail the basis for the objections set forth therein. To be effective, any such Notice of Objection shall include a copy of the Closing Date Statement setting forth Parent’s determination of the Closing Date Net Working
Capital marked to indicate those specific line items that are in dispute (the “Disputed Items”) and shall be accompanied by Company Shareholders’ Representative’s calculation of each of the Disputed Items and
Company Shareholders’ Representative’s revised Closing Date Statement setting forth its determination of the Closing Date Net Working Capital. To the extent Company Shareholders’ Representative provides a Notice of Objection within
such 30-day period, all items that are not Disputed Items shall be final and binding for all purposes hereunder. If the Company Shareholders’ Representative gives the Notice of Objection to Parent within such 30-day period, Parent and the
Company Shareholders’ Representative will use commercially reasonable efforts to resolve any Disputed Items during the 30-day period commencing on the date Parent receives the Notice of Objection from the Company Shareholders’
Representative, in accordance with Section 2.4 below. 
 (d) “Adjustment Amount” (positive or negative) means
(i) the Closing Date Net Working Capital as finally determined pursuant to Section 2.2(c) minus (ii) the Final Estimated Closing Date Net Working Capital. 
 (i) In the event that the Adjustment Amount as finally determined pursuant to Section 2.4 is negative, the Share Consideration shall
be correspondingly reduced on a dollar-for-dollar basis, based on the Parent Stock Value (such reduction, if any, being the “Consideration Reduction”). The Escrow Amount shall be correspondingly reduced by the
Consideration Reduction in accordance with the Escrow Agreement. 
 (ii) In the event that the Adjustment Amount as finally
determined pursuant to Section 2.4 is positive, then (A) if both the Closing Date Net Working Capital and Final Estimated Closing Date Net Working Capital are negative, then the Share Consideration shall be correspondingly increased on a
dollar-for-dollar basis, based on the Parent Stock Value and in accordance with the Closing Consideration Certificate, and (B) otherwise, there shall be no change to the Share Consideration. 
 Unless otherwise required by applicable Law, for purposes of all Taxes and Tax Returns the parties to this Agreement shall treat all payments made pursuant to this
Section 2.2 as an adjustment to the aggregate Share Consideration for all purposes. 
 Section 2.3. Earn-Out. 
 (a) Subject to this Section 2.3, the Share Consideration to which the Company Shareholders are entitled under Section 2.1(b) and the
consideration payable to holders of Options who receive Roll-Over Options (“Roll-Over Option Holders”) pursuant to Section 2.9(b) shall be increased (the “Earn-Out”) by up to 1,636,811 shares, in the
aggregate (including the shares of Parent Common Stock subject to the Earn-Out Restricted Stock Awards to be issued under Section 2.9(c)), of Parent Common Stock and Parent Series D Preferred Stock, as applicable, representing one percent
(1%) of the Fully Diluted Parent Stock immediately following the Effective Time (the “Earn-Out Amount”), if the Surviving Corporation achieves Net Advertising Revenue during the Earn-Out Period between $13,000,000 and
$17,000,000. The increased consideration described in the preceding sentence shall be provided (i) to 

  

 7 

 
Company Shareholders, if at all, in the form of Parent Common Stock or Parent Series D Preferred Stock delivered on the date described in 2.9(d), and
(ii) to Roll-Over Option Holders in the form of restricted stock described in Section 2.9(c), which shall vest, if at all, at the time described in Section 2.9(c). No additional Earn-Out Amount will be payable (or, with respect to
Roll-Over Option Holders, will vest) by Parent if Net Advertising Revenue exceeds $17,000,000. If the Surviving Corporation achieves Net Advertising Revenue of $17,000,000, then the entire Earn-Out Amount will be payable to the Company Shareholders
(and vest, with respect to Roll-Over Option Holders) in accordance with this Section 2.3(a). If the Net Advertising Revenue is more than $13,000,000 but less than $17,000,000, then the Company Shareholders shall be entitled to (and, with
respect to Roll-Over Option Holders, shall vest in) an aggregate number of shares of Parent Common Stock and Parent Series D Preferred Stock, as the case may be, equal to (A) the Earn-Out Amount multiplied by (B) the actual Net Advertising
Revenue achieved in excess of $13,000,000, divided by (C) $4,000,000 (rounded up to the nearest whole number). The maximum potential allocations for each Company Shareholder and Roll-Over Option Holder of the Earn-Out Amount shall be set forth
in the Closing Consideration Certificate. 
 (b) Within ninety (90) days of the end of the Earn-Out Period, Parent shall
(i) prepare a statement (the “Earn-Out Statement”) setting forth the Net Advertising Revenue and (ii) deliver or cause to be delivered the Earn-Out Statement, together with a summary of the basis for the
determination of the Net Advertising Revenue, to the Company Shareholders’ Representative. 
 (c) If the Company Shareholders’
Representative objects to the calculations set forth in the Earn-Out Statement, then within thirty (30) days after the delivery to the Company Shareholders’ Representative of the Earn-Out Statement, the Company Shareholders’
Representative shall deliver to the Company and Parent a written notice (the “Earn-Out Notice of Objection”) describing in reasonable detail the Company Shareholders’ Representative’s objections to the Earn-Out
Statement and setting forth the calculation determined by the Company Shareholders’ Representative to be correct. Unless the Company Shareholders’ Representative delivers an Earn-Out Notice of Objection to Parent within thirty
(30) days after Parent’s delivery of the Earn-Out Statement, the Earn-Out Statement shall be final and binding for all purposes hereunder. If the Company Shareholders’ Representative gives the Earn-Out Notice of Objection to the
Company and Parent within such 30-day period, the Company and the Company Shareholders’ Representative will resolve such dispute in accordance with Section 2.4 below. 
 (d) Within ten (10) days of (i) the delivery by Parent of an Earn-Out Statement which provides that Net Advertising Revenue exceeds $13,000,000
and either (A) the Company Shareholders’ Representative’s written agreement to such statement or (B) the expiration of the period during which the Company Shareholders’ Representative may provide an Earn-Out Notice of
Objection pursuant to Section 2.3(c) without his having providing such notice, or (ii) if the Company Shareholders’ Representative delivers an Earn-Out Notice of Objection, a resolution of any dispute regarding the calculation of Net
Advertising Revenue in accordance with Section 2.4 below, and such resolution provides that Net Advertising Revenue exceeds $13,000,000, Parent shall deliver to the Company Shareholders’ Representative, for distribution to the Company
Shareholders, stock certificates representing the shares of Parent Common Stock or Parent Series D Preferred Stock, as applicable, issuable to such Company Shareholders pursuant to this Section 2.3, allocated in accordance with the Closing
Consideration Certificate. 
  

 8 

 In the event that, after the Effective Time but prior to the end of the Earn-Out Period, Parent proposes
to engage in either (i) an underwritten public offering of Parent Common Stock pursuant to a registration statement filed with the Securities and Exchange Commission, or (ii) a Liquidation Event (as defined in the Parent Amended and
Restated Certificate of Incorporation) (in each case, an “Extraordinary Transaction “), Parent may, at its sole option, notify the Company Shareholders’ Representative in writing of such Extraordinary Transaction and
Parent’s intention to accelerate the payment of the Earn-Out Amount, if any, prior to such transaction (the “Extraordinary Transaction Notice”). The Extraordinary Transaction Notice shall set forth the expected Net Advertising
Revenue, as determined by Parent. The Company Shareholders’ Representative shall have twenty (20) days after delivery of such notice to object to the Net Advertising Revenue set forth in such notice. If the Company Shareholders’
Representative disagrees with the amount of expected Net Advertising Revenue set forth in the Extraordinary Transaction Notice, Parent and the Company Shareholders’ Representative shall negotiate in good faith to agree upon the expected Net
Advertising Revenue during the Earn-Out Period. If the parties are unable to agree on the expected Net Advertising Revenue within thirty (30) days after the date of Parent’s delivery of the Extraordinary Transaction Notice to the Company
Shareholders’ Representative, Parent and the Company Shareholders’ Representative shall submit for arbitration the calculation of the expected Net Advertising Revenue to an Accounting Firm (as defined below), in accordance with
Section 2.4(b). 
 Section 2.4. Dispute Resolution. 
 (a) During the 30-day period following the delivery of a Notice of Objection under Section 2.2(c) or an Earn-Out Notice of Objection under
Section 2.3(c), the Company Shareholders’ Representative and Parent shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice of Objection or the Earn-Out Notice
of Objection. At the end of such 30-day period, the Company Shareholders’ Representative and Parent shall submit for arbitration any and all matters that remain in dispute and which were properly included in the Notice of Objection or Earn-Out
Notice of Objection, as applicable, to a nationally recognized independent accounting firm, selected and agreed to in writing by both parties (the “Accounting Firm”). 
 (b) The Company Shareholders’ Representative and Parent shall use their respective commercially reasonable efforts to cause the Accounting Firm to
render a decision resolving the matters submitted to the Accounting Firm within thirty (30) days following the submission thereof. An order may be entered upon the determination of the Accounting Firm in any court having jurisdiction over the
party against which such determination is to be enforced. The cost of any arbitration (including the fees and expenses of the Accounting Firm and reasonable attorney fees and expenses of the parties) pursuant to this Section 2.4(b) shall be
borne by Parent, on the one hand, and the Company Shareholders and Option Holders (out of the Escrow Amount based on the Parent Stock Value as of the Closing Date), on the other hand in inverse proportion as each may prevail on matters resolved by
the Accounting Firm, which proportionate allocations shall also be determined by the Accounting Firm at the time the determination of the Accounting Firm is rendered on the merits of the matters submitted. 
 Section 2.5. Appraisal Rights. Notwithstanding anything in this Agreement to the contrary, shares of Capital Stock of the Company issued and
outstanding immediately prior to the Effective Time that are held by any holder who is entitled to demand and properly 

  

 9 

 
demands appraisal of such shares (the “Appraisal Shares”) pursuant to, and who complies in all respects with, Section 10.356 of
the TBOC (the “Appraisal Statute”) and applicable Law shall not be converted into the right to receive the applicable Share Consideration as provided in Section 2.1, but instead such holder shall be entitled to payment
of the fair value of such Appraisal Shares in accordance with the Appraisal Statute. At the Effective Time, the Appraisal Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and each holder of
Appraisal Shares shall cease to have any rights with respect thereto, except the right to receive the fair value of such shares in accordance with the provisions of the Appraisal Statute. Notwithstanding the foregoing, if any such holder shall fail
to perfect or otherwise shall waive, withdraw or lose the right to appraisal under the Appraisal Statute, or a court of competent jurisdiction shall determine that such holder is not entitled to the relief provided by the Appraisal Statute, then the
right of such holder to be paid the fair value of such holder’s Appraisal Shares under the Appraisal Statute shall cease and such Appraisal Shares shall be deemed to have been converted at the Effective Time into, and shall have become solely,
the right to receive the Share Consideration as provided in Section 2.1. The Company shall serve prompt notice to Parent of any demands for appraisal of any shares of Capital Stock of the Company, withdrawals of such demands and any other
related instruments served pursuant to the TBOC and received by the Company, and Parent shall have the right to participate in and direct all negotiations and proceedings with respect to such demands. Prior to the Effective Time, the Company shall
not, without the prior written consent of Parent, make any payment with respect to, or settle or offer to settle, any such demands, nor shall the Company agree to or commit to making any such payment or settlement or admit to any liability with
respect to such matters. 
 Section 2.6. Adjustments to Share Consideration. Notwithstanding any provision of this Article 2 to
the contrary (but without in any way limiting the covenants in Section 5.1(b)), if between the date of this Agreement and the Effective Time the outstanding Company Common Shares, the shares of preferred stock, par value $0.001 per share, of
the Company, or the Capital Stock of Parent shall have been changed into a different number of shares or a different class by reason of the occurrence or record date of any stock dividend, subdivision, reclassification, recapitalization, split,
combination, exchange of shares or similar transaction, the allocation of the Share Consideration, the Option Consideration, the Escrow Amount and the Earn-Out Amount, if any, shall be appropriately adjusted to reflect such stock dividend,
subdivision, reclassification, recapitalization, split, combination, exchange of shares or similar transaction. 
 Section 2.7.
Exchange Procedures. 
 (a) Prior to or as soon as practicable after the Closing, Parent shall provide to each holder of a Certificate
(i) a letter of transmittal (a “Letter of Transmittal”) and (ii) instructions for effecting the surrender of such Certificate in exchange for the Share Consideration with respect to each of the shares of Capital
Stock of the Company represented thereby. Following surrender of a Certificate to Parent together with such Letter of Transmittal duly executed and completed in accordance with the instructions thereto, a properly executed substitute Form W-9 or
Form W-8BEN, if applicable, from such holder in form and substance acceptable to Parent, and such other documents as may reasonably be required by Parent or its exchange agent, the holder of such Certificate shall be entitled to receive in exchange
therefor such number of shares of Parent Common Stock or Parent Series D Preferred Stock (rounded down to the nearest whole number) into which the shares of Capital Stock of the Company 

  

 10 

 
represented by such Certificate were converted pursuant to Section 2.1, and the Certificate so surrendered shall forthwith be cancelled. Until so
surrendered, such Certificates shall upon and following the Effective Time represent solely the right to receive the allocation of the Share Consideration with respect to the shares of Capital Stock of the Company represented thereby. 
 (b) If any Certificate shall have been lost, stolen, mutilated, defaced or destroyed, upon the making of an affidavit of that fact by the Person claiming
such Certificate to be lost, stolen, mutilated, defaced or destroyed, the holder of such Certificate shall be entitled to receive, subject to Section 2.2, in exchange for such lost, stolen, mutilated, defaced or destroyed Certificate a stock
certificate representing Parent Common Stock or Parent Series D Preferred Stock, as applicable, in the amount of the Share Consideration with respect to the shares of Capital Stock of the Company represented by such lost, stolen, mutilated, defaced
or destroyed Certificate, pursuant to Section 2.1; provided, however, that Parent may, in its discretion and as a condition precedent to the receipt of such amount by such holder, require the owner of such lost, stolen, mutilated,
defaced or destroyed Certificate to deliver a bond in such sum as it may reasonably require as indemnity against any claim that may be made against Parent or the Surviving Corporation with respect to the Certificate alleged to have been lost,
stolen, mutilated, defaced or destroyed. 
 (c) Parent or the Surviving Corporation, as applicable, shall be entitled to deduct and withhold
from the consideration otherwise payable to any holder of Capital Stock of the Company pursuant to this Agreement such amounts as may be required to be deducted and withheld with respect to the making of such payment under the Code or under any
provision of tax Law. 
 (d) None of Parent, Merger Sub, the Company or the exchange agent shall be liable to any Person in respect of any
Share Consideration delivered to a public official pursuant to any applicable abandoned property, escheat or similar Law. If any Certificate has not been surrendered prior to five (5) years after the Effective Time (or immediately prior to such
earlier date on which Share Consideration in respect of such Certificate would otherwise escheat to or become the property of any Governmental Entity), any such cash in respect of such Certificate shall, to the extent permitted by applicable Law,
become the property of the Surviving Corporation, free and clear of all claims or interest of any Person previously entitled thereto. 
 Section 2.8. No Further Ownership Rights. The Share Consideration paid in accordance with the terms of this Article 2 upon conversion of any shares of Capital Stock of the Company shall be deemed to have been paid in full
satisfaction of all rights pertaining to such shares of Capital Stock, subject, however, to the obligation to pay any further Share Consideration in accordance with the Escrow Agreement. After the Effective Time, there shall be no
further registration of transfers on the stock transfer books of the Surviving Corporation of shares of Capital Stock of the Company that were outstanding immediately prior to the Effective Time. If, after the Effective Time, any certificates
formerly representing shares of Capital Stock of the Company are presented to Parent or the exchange agent for any reason, they shall be canceled and exchanged as provided in this Article 2. 
 Section 2.9. Options. 
 (a) Each
Option held by a Person who will not be an employee or consultant of the Surviving Corporation immediately following the Merger and who is not an “accredited investor” as defined in Regulation D promulgated under the Securities Act of
1933, shall be 

  

 11 

 
cancelled immediately prior to the Effective Time in consideration for the payment by the Company in cash of an amount equal to the product of (i) the
number of Company Common Shares subject to such Option that will be vested at the Effective Time, multiplied by (ii) the amount by which (x) $0.25 exceeds (y) the per share exercise price of the Option. 
 (b) Each Option held by a current employee or consultant of the Company who will be an employee or consultant of the Surviving Corporation immediately
following the Merger shall be cancelled and there shall be substituted therefor an option (the “Option Consideration”) for Parent Common Stock (a “Roll-Over Option”), evidenced by a stock option
agreement (a “Roll-Over Option Agreement”). Each Roll-Over Option Agreement shall be issued under Parent’s 2007 Long-Term Incentive Plan and shall (i) provide for the same vesting schedule as such holder’s
terminated Option, (ii) cover a number of shares of Parent Common Stock determined by multiplying the number of Company Common Shares subject to such terminated Option by the Conversion Ratio (as may be adjusted pursuant to this Article 2), ,
and (iii) have an exercise price equal to (1) the aggregate exercise price of the existing Option, divided by (2) the number of shares determined under the foregoing clause (ii). The shares covered by the Roll-Over Options shall be
subject to reduction based on Net Working Capital (including reductions for Company Transaction Expenses) and the Escrow Amount in accordance with Sections 2.2, 2.3, 1.3(e) and 8.1. Any such reduction will be applied first to vested shares and then
to unvested shares. The number of shares of Parent Common Stock subject to each Roll-Over Option shall be set forth opposite each such Option holder’s name on the Closing Consideration Certificate. As soon as practicable following the Closing,
Parent will deliver to each Option holder a Roll-Over Option Agreement. The options substitution described in this Subsection (c) shall be made with respect to nonqualified stock options in accordance with Treas. Reg. §
1.409A-1(b)(5)(v)(D) and with respect to incentive stock options in accordance with Treas. Reg. § 1.424-1. 
 (c) As soon as practicable
following the Closing, Parent will deliver to each holder of a Roll-Over Option a restricted stock award (each, an “Earn-Out Restricted Stock Award”), representing the maximum number of shares of Parent Common Stock issuable
to such holder pursuant to the Earn-Out as set forth on the Closing Consideration Certificate. The Earn-Out Restricted Stock Awards shall become vested, to the extent to which the Earn-Out Amount has been earned pursuant to Section 2.3, if at
all, upon the later of (i) determination of such Earn-Out Amount in accordance with Section 2.3 (provided that such recipient of an Earn-Out Restricted Stock Award was still employed by, or providing consulting or advisory services to, the
Company or the Parent through December 31, 2009 or such earlier date on which a Liquidation Event is consummated), and (ii) the first to occur of (A) the end of the lock-up period following the first underwritten public offering of
Parent Common Stock pursuant to a registration statement filed with the Securities and Exchange Commission, and (B) a Liquidation Event. The Closing Consideration Certificate shall set forth the maximum number of shares of Parent Common Stock
to be subject to each Earn-Out Restricted Stock Award. 
 (d) The Company agrees that the Board of Directors of the Company (or, if
appropriate, any committee administering any stock option plan or other stock or equity-related plan of the Company (the “Company Stock Plans”) shall adopt such resolutions or take such other actions (including obtaining any
required consents but not including the payment of any cash or non-cash consideration other than as specified under Section 2.9(a)(i)) as may be required to effect the transactions described in this Section 2.9 as of the Effective Time.
The Company shall terminate all Company Stock Plans at the Effective Time. 
  

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 Section 2.10. Right to Purchase Parent Series E Preferred Stock 
 (a) The Company Preferred Shareholders shall have the right to purchase (the “Series E Purchase Right”) a number of shares of Series E
Preferred Stock, par value $0.001 per share, of Parent (the “Parent Series E Preferred Stock”) with an aggregate purchase price of not less than $7,500,000 and no more than $15,000,000 (the “Series E Purchase
Price”), upon the terms and subject to the conditions set forth in the Series E Preferred Stock Purchase Agreement as entered into by and among Parent and the other purchasers of Parent Series E Preferred Stock (the “Series E
Purchase Agreement”), within fifteen (15) days after the Closing Date. Parent shall provide a copy of the Series E Purchase Agreement to the Company Preferred Shareholders at least five (5) business days prior to the Closing Date,
or such date agreed upon by a majority of Company Preferred Shareholders. The Company Preferred Shareholders may exercise the Series E Purchase Right by providing written notice of such exercise to Parent within five (5) days after the Closing
Date. 
 (b) The purchase and sale of any Parent Series E Preferred Stock (the “Series E Closing”) shall take place no later
than fifteen (15) days after the Closing Date at a place to be mutually determined by the Company Shareholders’ Representative and Parent. At the Series E Closing, the Parent and the Company Preferred Shareholders participating as
investors thereunder shall each deliver to the other party the documents, instruments and other deliverables required under the Series E Purchase Agreement. 
 ARTICLE 3 
 REPRESENTATIONS AND WARRANTIES OF
THE COMPANY 
 Except as set forth in the Company Disclosure Schedules delivered by the
Company to Parent dated as of the date hereof, which Company Disclosure Schedules identifies the Section (or, if applicable, the subsection) to which such exception relates, the Company hereby represents and warrants to Parent and Merger Sub, as of
the date of this Agreement and as of the Closing as follows: 
 Section 3.1. Organization and Standing. The Company is a
corporation duly formed, validly existing and in good standing under the laws of the State of Texas. The Company has full corporate power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals
necessary to enable it to own, lease or otherwise hold its properties and assets and to carry on its business as currently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in
the aggregate, would not be material. The Company is duly qualified and in good standing to do business as a foreign company in each jurisdiction in which its assets are located and wherever the conduct or nature of its business makes such
qualification necessary. A list of the jurisdictions in which the Company is so qualified is set forth in Section 3.1 of the Company Disclosure Schedules. The Company has made available to Parent prior to the date hereof true and complete
copies of the Company’s Constitutive Documents, in each case as amended through the date of this Agreement. The minute books of the Company, which have been provided to Parent prior to the date hereof, are true and complete in all material
respects. 
  

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 Section 3.2. Capital Stock; Subsidiaries. 
 (a) Section 3.2 of the Company Disclosure Schedules sets forth all the authorized Capital Stock of the Company, as well as all the holders of Capital
Stock or other equity interests in the Company issued or outstanding, including the number of shares of Capital Stock of the Company, options, warrants or similar rights held by each holder thereof. All the Capital Stock of the Company is duly
authorized and validly issued, fully paid and nonassessable, and were not issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provisions of the TBOC,
the Company’s Constitutive Documents or any Contract to which the Company is a party or otherwise bound. There are not any bonds, debentures, notes or other Indebtedness of the Company having the right to vote (or convertible into, or
exchangeable for, securities having the right to vote) on any matters on which holders of Capital Stock of the Company may vote (“Voting Company Debt”). Except as set forth in Section 3.2(a) of the Company Disclosure
Schedules, there are no options, warrants, rights, convertible or exchangeable securities, “phantom” equity rights, equity appreciation rights, equity-based performance units, commitments, arrangements, undertakings or Contracts of any
kind to which any Company Shareholder or the Company is a party or by which they or their respective assets or properties are bound (i) obligating the Company to issue, deliver or sell, or cause to be issued, delivered or sold, additional
Capital Stock of the Company, or any security convertible or exercisable for or exchangeable into any Capital Stock of the Company or other equity in the Company, (ii) obligating the Company to issue, grant, extend or enter into any such
option, warrant, call, right, security, commitment, arrangement, undertaking or Contract, (iii) that give any Person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring to
holders of Capital Stock of the Company or other equity interests of the Company or (iv) that directly or indirectly restrict or limit in any manner the sale or disposition of the Capital Stock of the Company. There are no outstanding
obligations of the Company to repurchase, redeem or otherwise acquire any Capital Stock of the Company or other equity interest in the Company. 
 (b) The Company does not have any Subsidiaries, and does not own or control, directly or indirectly, any membership interest, partnership interest, joint venture interest, or other equity interest in any Person. 
 (c) All holders of Company Common Shares, Company Preferred Shares and Options entitled to receive any portion of the Share Consideration or the Option
Consideration are set forth on the Closing Consideration Certificate. 
 Section 3.3. Authority; Execution and Delivery;
Enforceability. 
 (a) The Company has full corporate power and authority to execute and deliver this Agreement and the Transaction
Agreements and to consummate the Merger and the other transactions contemplated hereby and thereby. The execution and delivery by the Company of this Agreement and the Transaction Agreements and the consummation by the Company of the Merger and the
other transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action on the part of the Company, subject, in the case of the Merger, to receipt of Company Shareholder Approval. The Company has duly executed
and delivered this Agreement and prior to the Closing will have duly executed and delivered each Transaction Agreement and this Agreement constitutes, and each Transaction Agreement will after the Closing constitute, its legal, valid and binding
obligation, enforceable against it in accordance with its terms. 
  

 14 

 (b) The Company’s Board of Directors, at a meeting duly called and held, duly adopted resolutions
(i) approving and declaring the Merger, this Agreement and the Transaction Agreements and the other transactions contemplated hereby and thereby advisable and in the best interests of the Company and its shareholders, (ii) authorizing the
Company to enter into this Agreement, the Transaction Agreements and to consummate the Merger and the other transactions contemplated hereby, on the terms and subject to the conditions set forth in this Agreement, (iii) directing that the
Merger and this Agreement be submitted to the holders of Company Common Shares and Company Preferred Shares for approval and adoption of the Merger and this Agreement and (iv) recommending that the holders of Company Common Shares and Company
Preferred Shares adopt this Agreement. No state takeover statute or similar statute or regulation applies to the Company with respect to the Merger, this Agreement or the Transaction Agreements or any other transaction contemplated hereby or
thereby. 
 (c) The only votes of holders of any class or series of Capital Stock of the Company necessary to approve and adopt the Merger,
this Agreement, the Transaction Agreements and the other transactions contemplated hereby and thereby is the Company Shareholder Approval. None of the Company Shareholders has purported to vote under Sections 6.001 or 6.002 of the TBOC (or execute
or deliver a written consent under Section 6.202 of the TBOC) for the adoption of this Agreement prior to both the approval of this Agreement and the declaration of its advisability by the Company’s Board of Directors and the execution and
delivery of this Agreement. 
 Section 3.4. No Conflict; Consents. The execution and delivery by the Company of this Agreement do
not, the execution and delivery by the Company of the Transaction Agreements will not, and the consummation of the Merger and the other transactions contemplated hereby and thereby and compliance by the Company with the terms hereof and thereof will
not conflict with, or result in any breach, violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit
under, or result in the creation of any Lien upon any of the properties or assets of the Company under, or give rise to any increased, additional, accelerated or guaranteed rights or entitlements under, any provision of (i) the Constitutive
Documents of the Company, (ii) except as set forth in Section 3.4 of the Company Disclosure Schedules, any Contract to which the Company is a party or by which any of its properties or assets is bound or (iii) any Order or any Law
applicable to the Company or its properties or assets. No Consent of, or registration, declaration or filing with, any Governmental Entity is required to be obtained or made by or with respect to the Company in connection with (A) the
execution, delivery and performance of this Agreement or any Transaction Agreement or the consummation of the transactions contemplated hereby and thereby or (B) the ownership by Parent of the Surviving Corporation immediately following the
Closing, other than the filing of the Texas Articles of Merger with the Texas Secretary of State. 
 Section 3.5. Financial
Statements. 
 (a) Section 3.5(a) of the Company Disclosure Schedules sets forth (i) the unaudited consolidated balance sheets
and profit and loss statements of the Company as of December 31, 2006 and 2007, and the related statements of cash flows and shareholders’ equity 

  

 15 

 
for the respective fiscal years then ended (the “Annual Financial Statements”); and (ii) the unaudited consolidated balance
sheet and profit and loss statements of the Company for the period January 1, 2008 to June 30, 2008, and the related statements of cash flows and shareholders’ equity for the six months then ended (the “Interim
Financial Statements” and, together with the Annual Financial Statements, the “Financial Statements”). 
 (b) The Company (i) maintains books, records, and accounts that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company in all material respects, and (ii) the Financial
Statements have been prepared from the books, records and accounts of the Company, were prepared in accordance with United States generally accepted accounting principles (“GAAP”) consistently applied throughout the periods
specified therein (except as may be indicated in the notes thereto), are true and complete and present fairly, in all material respects, the financial condition, results of operations and cash flows of the Company as of the respective dates thereof
and for the respective periods indicated. 
 Section 3.6. Undisclosed Liabilities; Indebtedness. 
 (a) The Company does not have any Liabilities, except (i) as specifically disclosed in the Financial Statements and any notes thereto, (ii) for
Liabilities incurred in the Ordinary Course of Business since the date of the Financial Statements and not in violation of this Agreement, and (iii) for Liabilities, set forth on Section 3.6(a) of the Company Disclosure Schedules, incurred
in connection with the negotiation of this Agreement and the other Transaction Agreements, and the consummation of the transactions contemplated hereby and thereby. 
 (b) Except as set forth in Section 3.6(b) of the Company Disclosure Schedules, the Company does not have any outstanding Indebtedness. All Indebtedness will be terminated prior to the Closing. 
 Section 3.7. Assets other than Real Property Interests. The Company has good and valid title to all the assets (tangible or intangible)
reflected on the Financial Statements or thereafter acquired (the “Assets”), other than those disposed of since the date of the Financial Statements in the Ordinary Course of Business and not in violation of this Agreement, in each
case free and clear of all Liens, except (i) such Liens as are set forth in Section 3.7 of the Company Disclosure Schedules (all of which shall be discharged prior to the Closing), and (ii) Permitted Liens. This Section 3.7 does
not relate to real property or interests in real property, such items being the subject of Section 3.8, or to Intellectual Property or interests in Intellectual Property, such items being the subject of Section 3.9. The tangible Assets are
in good working order, operating condition and state of repair, ordinary wear and tear excepted. 
 Section 3.8. Real Property.

 (a) Section 3.8(a) of the Company Disclosure Schedules sets forth a true and complete list of all Real Estate Assets, including
without limitation a complete list of all real property and interests in real property leased by the Company (individually, a “Leased Property”) and identifies any base leases or operating agreements relating thereto. The
Company has made available to Parent prior to the date hereof true and complete copies of all mortgages, leases and any operating agreements relating to the Real Estate Assets, including without limitation the Leased Properties. The Company
(i) has good and valid title to the leasehold estates in all Leased Property, and (ii) good, sufficient and legal title to all Real Estate 

  

 16 

 
Assets, in each case free and clear of all Liens, except (i) Permitted Liens, (ii) such Liens as are set forth in Section 3.7 of the Company
Disclosure Schedules (all of which shall be discharged prior to the Closing) and (iii) leases, subleases and similar agreements set forth in Section 3.8(a) of the Company Disclosure Schedules. 
 (b) Neither the Company nor, to the Company’s knowledge, any other party to any lease relating to Leased Real Property is in breach or default, and
no event has occurred (including the failure to obtain any consent) which, with notice or lapse of time or both, would constitute a breach or default or permit termination, modification, or acceleration thereunder or impair any right of the Company
to exercise and obtain the benefit of any options contained in any such lease nor has the Company received any notice or other communication regarding any actual or possible violation or breach of, or default under, any such lease. 
 (c) To the Company’s knowledge, with respect to each lease that is a sublease, the representations and warranties set forth above are true with
respect to the underlying lease. 
 (d) To the Company’s knowledge, all facilities leased, subleased, licensed, or otherwise used under
any lease by the Company have received all approvals of Governmental Entities (including licenses and permits) required in connection with the operation thereof and have been operated and maintained in accordance with applicable Law. The Company has
not received any notice of violation of any Law applicable to the Company’s operation of its premises demised to it under any lease with which it has not complied nor any notice of any pending or threatened action or proceeding by any
Governmental Entity for assessment or collection of Taxes, impact fees or special (or undisclosed general) assessments affecting any of such demised premises or for the condemnation or eminent domain proceeding against any of the real properties
containing such demised premises. 
 (e) No Person other than the Company is in possession of any portion of the premises demised unto the
Company under any lease and, to the Company’s knowledge, no Person other than the Company as tenant, sublessee, licensee, or other occupant, and the landlord named in any lease, as landlord, has any right, title, or interest in, to, or under
any such lease. 
 (f) To the Company’s knowledge, the premises demised to the Company under each lease are in good operating condition
and repair (ordinary wear and tear excepted) and are structurally sound and free of defects, with no material alterations or repairs being required under the lease, applicable Law, or insurance company requirements. 
 (g) Except as disclosed in any such lease, there are no restrictions, prohibitions or limitations on the ability to assign, transfer, pledge, hypothecate
or otherwise convey or dispose of the interest of the Company in the leases or the premises demised unto the Company under the lease. 
 (h)
There are no unpaid broker’s, finder’s, or similar fees or commissions payable by the Company in connection with any Leased Property nor are there any such fees or commissions due and payable in the future with respect thereto. 

Section 3.9. Intellectual Property 
 (a) Except as set forth on Section 3.9(a) of the Company Disclosure Schedules, the Company is the sole and exclusive owner of, and has the right to use, distribute, publish, sell, lease, assign and license, as the case may be, free and
clear of all Liens, all Intellectual Property used, sold or licensed by the Company in the business of the Company as presently conducted. 
  

 17 

 (b) The products and operation of the business of the Company and the use of Intellectual Property and
all tangible embodiment thereof by the Company, and its present and currently proposed business practices and methods, do not infringe, constitute an unauthorized use of, or misappropriate, dilute or violate or otherwise conflict with any
Intellectual Property right of any third party. The Intellectual Property owned by or licensed to the Company includes all of the Intellectual Property necessary to enable the Company to conduct its business in the manner in which such business has
been and is currently being conducted. 
 (c) Except with respect to licenses of commercial off-the-shelf Software with payments in an amount
that do not exceed $10,000 annually in the aggregate (collectively, “Shrink-wrap Licenses”), the Company is not obligated under any Contract to make any payments by way of royalties, fees or otherwise to any owner or licensor of, or
other claimant to, any Intellectual Property, with respect to the Company’s use thereof in connection with the conduct of its business. 
 (d) Section 3.9(d) of the Company Disclosure Schedules sets forth a true and complete list of all Patents, registered Marks, pending applications for registration of any Marks, unregistered Marks currently being used by the Company,
registered Copyrights, and pending applications for registration of Copyrights, in each case, owned by or licensed to the Company, (other than by inclusion in commercial off-the-shelf Software licensed to the Company) including (i) the
jurisdictions in which such Patents, Marks and Copyrights have been issued or registered or in which such applications have been filed, (ii) all owners thereof, (iii) all registration numbers, issuance numbers, grant numbers, serial
numbers or application numbers, as applicable, and (iv) all filing, maintenance, and other payments and deadlines and expiration dates that will occur within six (6) months of the Effective Date. Except as set forth on Schedule 3.9(d), the
Company owns all rights, title and interests in and to all Intellectual Property listed or required to be listed on Schedule 3.9(d), free and clear of all Liens. All registration, renewal, maintenance and other applicable fees have been timely paid
in connection with all issued, registered and applied for Intellectual Property owned by or licensed to the Company, and all reasonable actions have been taken for the prosecution and protection of all issued, registered, applied for, and
unregistered Intellectual Property owned by or licensed to the Company. 
 (e) Section 3.9(e) of the Company Disclosure Schedules sets
forth copies of all patent applications prepared by or for the benefit of the Company. The Company is the sole and exclusive owner of, and has the right to use, sell and license, as the case may be, free and clear of all Liens, the inventions set
forth in the claims or otherwise disclosed in such applications. To the Company’s knowledge, the statements set forth in the claims in such applications are accurate and represent new and patentable inventions, and the Company is not aware of
any prior art that would preclude patenting of the inventions claimed in such applications. 
 (f) Section 3.9(f) of the Company
Disclosure Schedules contains a true and complete list of all Software currently owned, licensed or otherwise distributed, under development, published or marketed or supported, maintained or used by the Company (excluding commonly used and
available computer programs subject to commercially standard “shrink-wrap” licenses), and services offered by the Company, with Software owned by the 

  

 18 

 
Company having been designated on such Section 3.9(f) by an asterisk (*)(the “Company Products”). As of the date of this Agreement, to
the knowledge of the Company, there currently are no material errors and defects with respect to the Company Products. 
 (g) Except as
disclosed in Section 3.9(g) of the Company Disclosure Schedules, the Company has not licensed any of its owned or licensed Intellectual Property to any Person, nor has the Company entered into any Contract limiting its ability to exploit fully
any of its owned or licensed Intellectual Property. 
 (h) There are no pending or, to the Company’s knowledge, threatened IP
Proceeding. The Company has not received notice of any threatened IP Proceeding, and there are no facts or circumstances which are likely to form the basis for any claim of any Proceeding (i) which involves a claim against the Company or notice
to the Company of infringement of, unauthorized use of, or misappropriation, dilution or violation of or conflict with any Patent, Mark, Copyright or Proprietary Information of any third party, or (ii) challenging the ownership, use, validity,
priority, duration, scope, use, right to use, enforceability or effectiveness of any Patent, Mark, Copyright or Proprietary Information owned by or licensed to the Company, (including without limitation any interference, reissue, reexamination,
opposition, concurrent use, cancellation, invalidity or other similar Proceeding). All material Intellectual Property owned by or licensed to the Company is valid, enforceable and in full force and effect, and has not through action or failure to
act lapsed, been abandoned or otherwise been forfeited, or is likely to be forfeited, in whole or in part. 
 (i) No third party is
infringing, violating, misusing, diluting or misappropriating any Intellectual Property owned by or licensed to the Company and no such claims have been made against a third party by the Company, or to the knowledge of the Company, by any Person who
has licensed Intellectual Property to the Company with respect to such Intellectual Property. 
 (j) The Company has taken reasonable
measures to protect and maintain the secrecy and/or confidentiality of all non-public Intellectual Property owned by or licensed to the Company, including requiring all Company employees and consultants with access to such Intellectual Property and
all other Persons with access to such Intellectual Property to execute a binding confidentiality agreement. The Company has taken reasonable measures to protect the value of all Intellectual Property used in the conduct of the business of the
Company, including requiring all Company employees to execute an agreement which includes provisions sufficient to ensure that the Company becomes the sole owner of any Intellectual Property created by such employees within the scope of his or her
employment, or in the case of a Person other than an employee from the services such Person performs for the Company. Copies or forms of the agreement or agreements referred to in this paragraph (j) have been made available to Parent and,
except as disclosed in Section 3.9(j) of the Company Disclosure Schedules, there has not been a material breach of any such agreement or agreements. No inadvertent or unauthorized disclosure of any non-public Intellectual Property has occurred,
whether through negligence, corporate espionage, or otherwise. 
 (k) No material Intellectual Property owned by or licensed to the Company
has been developed, in whole or in part, through the use of funding or other resources of any Governmental Entity. 
  

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 (l) Section 3.9(l) of the Company Disclosure Schedules accurately identifies and describes
(A) each item of Open Source Material that is or has been contained in, distributed with, or used in the development of any Intellectual Property owned by, licensed to, or otherwise used or has been used by the Company (the “Company
Intellectual Property”) or any Company Intellectual Property or Company Product or from which any part of any Company Intellectual Property or Company Product has been derived, or which is or has been distributed or made available to any
third party by or for the Company, (B) the applicable license agreement for each such item of Open Source Material, (C) any Company Intellectual Property or any Company Product(s) (if any) in which each such item of Open Source Material is
contained or distributed with, and (D) whether (and if so, how) each such item of Open Source Material has been modified or distributed by or for the Predecessor Company or Company. 
 (m) Except as set forth in Section 3.9(m) of the Company Disclosure Schedules, the Company has not (A) incorporated Open Source Materials into,
or combined Open Source Materials with, any Company Intellectual Property or Company Product or used Open Source Materials to develop or provide any Company Intellectual Property or Company Product, (B) distributed Open Source Materials in
conjunction with or for use with any Company Intellectual Property or Company Product or (C) otherwise used Open Source Materials, (in each case (A), (B) and (C)), in a manner that (1) imposes a requirement or condition that such
Company Intellectual Property or Company Product (or any portion thereof) (A) be disclosed or distributed in source code form, (B) be licensed for the purpose of making modifications or derivative works, or (C) be redistributable at
no charge, or (2) grants or requires the grant of a license to any Person of any Company Intellectual Property or Company Product. 
 (n) None of the Software owned by the Company, and to the knowledge of the Company, none of the other Software included in the Company Intellectual Property or Company Products, contains any significant bugs, defects or programming errors,
or any “back door,” “time bomb,” “Trojan horse,” “virus,” or “worm” (as such terms are commonly understood in the software industry) or any other code designed or intended to have or that otherwise
has any of the following effects or functions: (x) disrupting, disabling, harming, or otherwise impeding the operation of, or providing unauthorized access to, a computer system or network or other device on which such code is stored, installed
or otherwise used, or (y) damaging or destroying any data or file without the user’s consent. All Software owned by the Company, and to the knowledge of the Company, all of the Software included in the Company Intellectual Property or
Company Product conform in all material respects to the written documentation and specifications therefor, and fulfill the intended purposes thereof. 
 (o) None of the execution and delivery of this Agreement or the Transaction Agreements, the consummation of the Merger and the other transactions contemplated hereby nor the performance by the Company of its
obligations hereunder shall materially adversely affect any rights of the Company with respect to any Company Intellectual Property, or the validity, priority, scope, enforceability, use, right to use, ownership, license rights, or duration of any
such Intellectual Property rights. 
 Section 3.10. Contracts. 
 (a) Section 3.10(a) of the Company Disclosure Schedules (with paragraph references corresponding to those set forth below) contains a true and
complete list of each of the following Contracts, to which the Company is a party or by which any of its properties or assets is bound (each such Contract, whether or not set forth in such section of the Company Disclosure Schedules, a
“Material Contract”): 
 (i) all employment or consulting agreements, and all other plans, agreements,
arrangements, practices or other Contracts (other than any Employee Benefit Plan) which constitute compensation, including post-retirement benefits, to any of the officers or employees or former officers or employees of the Company, except for
obligations arising generally in connection with employment-at-will employment relationships and obligations arising in connection with any Employee Benefit Plan; 
  

 20 

 (ii) all collective bargaining agreements or other Contracts with any labor organization,
union or association; 
 (iii) all Contracts containing (A) any provision or covenant purporting to prohibit or limit the
ability of the Company to engage in any business activity or compete with any Person or purporting to prohibit or limit the ability of any Person to compete with the Company, in either case in any geographic area or for any current or potential
customers anywhere in the world and (B) all Contracts containing any standstill or similar obligation of the Company to a third party or of a third party to the Company; 
 (iv) all Contracts (A) containing any “most favored nations” or similar right in favor of any party other than the Company
or (B) containing any right of any party thereto other than the Company to terminate such contract or containing any other consequence upon a “change of control” of the Company; 
 (v) all customer Contracts with active customers of the Company to whom the Company has the obligation to deliver products or services (it
being understood and agreed by the parties that Section 3.10(a)(v) of the Company Disclosure Schedules shall set forth the names of each such customer and the aggregate value of all customer Contracts with such customer, and such Contracts
shall nonetheless constitute “Material Contracts” for purposes of this Agreement); 
 (vi) all Contracts (other than
this Agreement) with or for the benefit of (A) any Company Shareholder or any Affiliate of any Company Shareholder or (B) any officer or employee of the Company, any Company Shareholder, or any Affiliate of any Company Shareholder (other
than employment agreements covered by clause (i) above); 
 (vii) all leases, subleases or similar Contracts with any
Person under which the Company is a lessor or sublessor of, or makes available for use to any Person, (A) any Leased Property or (B) any portion of any premises otherwise occupied by the Company; 
 (viii) all leases, subleases or similar Contracts with any Person under which (A) the Company is lessee of, or holds or uses, any
machinery, equipment, vehicle or other tangible personal property owned by any Person or (B) the Company is a lessor or sublessor of, or makes available for use by any Person, any tangible personal property owned or leased by the Company, in
any such case which has an aggregate future liability or receivable, as the case may be, in excess of $10,000; 
 (ix) other
than any licenses of third-party commercial off-the-shelf Software, all material licenses, sublicenses, options or other agreements relating in whole or in part to the Company Intellectual Property (including any material licenses or other
agreements under which the Company is licensee or licensor of any Company Intellectual Property); 
  

 21 

 (x) all Contracts (A) with respect to any Indebtedness of the Company,
(B) granting a Lien upon any Leased Property or any other asset of the Company, (C) under which any Person has directly or indirectly guaranteed Liabilities of the Company, or (D) under which the Company guaranteed any Liability of
any Person; 
 (xi) all Contracts under which the Company has, directly or indirectly, made any advance, loan, extension of
credit or capital contribution to, or other investment in, any Person; 
 (xii) all Contracts (A) for the sale of any
assets of the Company other than in the Ordinary Course of Business or the grant of any preferential rights to purchase any such assets or requiring the Consent of any party to the transfer thereof or (B) providing for any obligations of any
Person for the payment of any deferred or conditional purchase price or purchase price adjustment with respect to the disposition of, or for the indemnification of any Person with respect to any Liabilities relating to, any current or former
business of the Company; 
 (xiii) all Contracts (A) with, or license or Permit by or from, any Governmental Entity or
(B) for any joint venture, partnership or similar arrangement; 
 (xiv) all Contracts under which the Company is or may
become obligated to pay any brokerage, finder’s or similar fees or expenses in connection with, or has incurred any special compensation obligations which would become payable by reason of, this Agreement or the Transaction Agreements or
consummation of the Merger or other transactions contemplated hereby and thereby; 
 (xv) all Contracts (including purchase
orders, vendor agreements, advertising agreements, dealer, distributor, sales representative, franchisee or similar agreements) of a type not otherwise covered by another clause of this Section 3.10(a) (without regard to materiality and value
thresholds contained therein), involving payment by the Company of more than $10,000, other than purchase orders entered into in the Ordinary Course of Business after the date of this Agreement and not in violation of this Agreement; and 

(xvi) Contracts providing for indemnification of any officer or director of the Company (other than the Constitutive Documents of the
Company). 
 (b) Each Material Contract is in full force and effect and constitutes a legal, valid and binding agreement of each party
thereto, enforceable by the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other laws affecting creditors’ rights generally and general principles of equity
(whether considered in a proceeding at law or in equity). The Company has performed all obligations required to be performed by it to date under the Material Contracts, and it is not (with or without the lapse of time or the giving of notice, or
both) in breach or default in any material respect thereunder and no other party to any Material Contract is (with or without the lapse of time or the giving of notice, or both) in breach or default in any material respect thereunder. The Company
has not, except as disclosed in the applicable subsection of Section 3.10 of the Company Disclosure Schedules, received any notice of the intention of any party to terminate any Material Contract. True and complete written summaries of each
unwritten Material 

  

 22 

 
Contract and true and complete copies of each written Material Contract, together with all amendments and supplements thereto and all waivers of any terms
thereof, have been made available to Parent prior to the date hereof. 
 Section 3.11. Permits. The Company possesses all Permits
necessary to own or hold under lease and operate its assets and to conduct the business of the Company as currently conducted. Section 3.11 of the Company Disclosure Schedules sets forth all material federal, state or local, domestic or
foreign, governmental Consents, approvals, orders, authorizations, certificates, filings, notices, permits, concessions, registrations, franchises, licenses or rights (“Permits”) issued or granted to the Company. Except as set forth
in Section 3.11 of the Company Disclosure Schedules, (i) all such Permits are validly held by the Company in its own name, and the Company has complied in all material respects with all terms and conditions thereof; (ii) the Company
has not received notice of any Proceeding relating to the revocation or modification of any such Permits the loss of which, individually or in the aggregate, would be material; and (iii) none of such Permits will be subject to suspension,
modification, revocation or nonrenewal as a result of the execution and delivery of this Agreement and the Transaction Agreements or the consummation of the Merger and the other transactions contemplated hereby and thereby. 
 Section 3.12. Insurance. The Company maintains policies of fire and casualty, liability and other forms of insurance in such amounts, with
such deductibles and against such risks and losses as are, in the Company’s judgment, reasonable for the business and assets of the Company, which insurance policies are set forth in Section 3.12 of the Company Disclosure Schedules. All
such policies are in full force and effect, all premiums due and payable thereon have been paid, and no notice of cancellation or termination has been received with respect to any such policy. There is no claim pending under any such policy as to
which coverage has been questioned, denied or disputed by the underwriter of such policy. Each such policy will continue to be enforceable and in full force and effect immediately following the Closing in accordance with the terms thereof as in
effect as of the date hereof. 
 Section 3.13. Taxes. Except as set forth in Section 3.13 of the Company Disclosure
Schedules: 
 (a) The Company has timely filed (taking into account applicable extensions) with the appropriate taxing authorities all
income and franchise and other material Tax Returns required to be filed by it and paid all Taxes due and owing by it (whether or not shown to be due on any such Tax Returns and whether or not any Tax Return was required). All such Tax Returns are
true and complete in all material respects. The Company has delivered or made available to Parent true and complete copies of federal income and material state and local Tax Returns of the Company and its predecessors (if any) for all Tax years
ending on or after December 31, 2006. Since the most recent Interim Financial Statements, the Company has not incurred any Liability for Taxes outside the Ordinary Course of Business consistent with past custom and practice. 
 (b) The Company has withheld and paid over all Taxes required to have been withheld and paid over, and has complied with the rules and regulations
relating to the withholding or remittance of Taxes. 
  

 23 

 (c) The Company has not requested any extension of time within which to file any Tax Return, which Tax
Return has not since been filed. There are no outstanding waivers or comparable consents that have been given by the Company regarding the application of any statute of limitations with respect to any Taxes or Tax Returns of the Company. Neither the
Company nor any predecessor has agreed to any extension of time with respect to a material Tax assessment or deficiency which has not been previously resolved. There are no audits, assessments, or administrative or court Proceedings relating to
Taxes or Tax Returns of the Company currently pending or to the knowledge of the Company, threatened. No deficiencies for taxes against the Company have been claimed, proposed or assessed by any taxing authority. There are no Liens on any assets of
the Company with respect to Taxes, other than Liens for Taxes not yet due and payable. No claim has been made by a taxing authority in a jurisdiction where the Company has not filed a Tax Return that the Company is or may be required to file a Tax
Return in such jurisdiction. 
 (d) The Company has not been a member of an affiliated group filing a consolidated federal income Tax Return.
The Company has no Liability for the Taxes of any Person (other than Taxes of the Company) (i) under Treasury regulation Section 1.1502-6 (or any similar provision of state, local or foreign law), (ii) as a transferee or successor,
(iii) by contract, or (iv) otherwise. The Company is not a party to any Tax sharing or Tax indemnity agreement or any other agreement of a similar nature that remains in effect or pursuant to which the Company will have any Liability under
for amounts due in respect of periods prior to the Closing Date. 
 (e) The Company has not agreed, nor is it required, to make any
adjustment under Section 481(a) on the Code by reason of a change in accounting method or otherwise for any taxable period (or portion thereof) ending after the Closing Date. 
 (f) The Company has not distributed the stock of any corporation in a transaction intended to satisfy the requirements of Section 355 of the Code
since inception, and the stock of the Company has not been distributed in a transaction intended to satisfy the requirements of Section 355 of the Code since inception. 
 (g) The Company has not entered into any transaction identified as a “reportable transaction” for purposes of Treasury regulations Sections
301.6011-4(b). 
 (h) The Company will not be required to include any item of income in, or exclude any item of deduction from, taxable
income for any taxable period (or portion of any taxable period) after the Closing Date as a result of any (i) closing agreement as described in Section 7121 of the Code (or any corresponding or similar provision of state, local or
non-U.S. Tax law); (ii) installment sale or open transaction disposition occurring on or prior to the Closing Date; or (iii) prepaid amount received on or prior to the Closing Date. 
 (c) The Company is not and has not been a United States real property holding corporation within the meaning of Code Section 897(c)(2) during the
applicable period specified in Code Section 897(c)(1)(A)(ii). 
 Section 3.14. Litigation. There is no Proceeding before any
Governmental Entity pending or, to the Company’s knowledge, threatened, or any Proceeding to which the 

  

 24 

 
Company is a party, that (i) affects the Company or any of its assets; or (ii) questions the validity of this Agreement or the other Transaction
Agreements, or the Company’s right to enter into this Agreement or the other Transaction Agreements or to consummate the transactions contemplated hereby or thereby. The Company is not party to and the Company is not subject to or in default
under any Order; and there is no Proceeding or claim by the Company pending, or which the Company intends to initiate, against any other Person. 
 Section 3.15. Employee Benefit Plans. 
 (a) Section 3.15(a) of the Company Disclosure Schedules contains a list and
brief description of all Employee Benefit Plans, and the Company has delivered to Parent true and complete copies of each Employee Benefit Plan. With respect to each Employee Benefit Plan, the Company has provided to Parent a true and complete copy
of the plan document (if any) and any amendments thereto and, to the extent applicable: (i) any related trust agreement or other funding instrument; (ii) the most recent IRS determination or opinion letter (if any), (iii) any summary
plan description and other material written communications (or a description of any communications) by the Company to the Employees concerning the extent of the benefits provided under an Employee Benefit Plan; and (iv) for the three most
recent years (A) the annual report (if any) in connection with such Employee Benefit Plan, including all schedules thereto, (B) audited financial statements, if any, and (C) actuarial valuation reports, if any. 
 (b) Except the medical and dental plans listed in Schedule 3.15(b), none of the Employee Benefit Plans constitutes, and neither the Company nor any ERISA
Affiliate has ever sponsored, maintained, or been required to contribute to (i) an “Employee Benefit Plan” as defined in Section 3(3) of ERISA, (ii) any employee benefit plan subject to section 412 of the Code or Title IV of
ERISA, (iii) any employee benefit plan that is intended to be qualified under section 401(a) of the Code, or (iv) any “multiemployer plan” (within the meaning of Section 3(37) of ERISA). 
 (c) Each Employee Benefit Plan has been administered in all material respects in accordance with its terms and applicable Law. There are no lawsuits,
actions, or other proceedings pending or threatened with respect to any Employee Benefit Plan. 
 (d) The Company has not offered to provide
health or life insurance coverage to any individual, or to the family members or beneficiaries of any individual, for any period extending beyond the termination of the individual’s employment by the Company, except to the extent required by
the health care continuation (also known as COBRA) provisions of ERISA and the Code or similar state benefit continuation Laws. Each Employee Benefit Plan that is a group health plan, as such term is defined in Section 5000(b)(1) of the Code,
complies in all material respects with Sections 601 et seq. and 701 et seq. of ERISA and Section 4980B and Subtitle K of the Code. No Employee Benefit Plan is a “multiple employer welfare arrangement” within the meaning of section
3(41) of ERISA without regard to Section 514(b)(6)(B) of ERISA. 
 (e) Except as set forth on Section 3.15(e) of the Company
Disclosure Schedules, neither the execution and delivery of this Agreement or the Transaction Agreements, nor the consummation of the Merger or the other transactions contemplated hereby or thereby alone or together will result in the payment,
vesting, or acceleration of any bonus, stock option or other equity-based award, retirement, severance, job security or similar benefit or any enhanced benefit to any Person. No benefit that is or may become payable by any Employee Benefit Plan

  

 25 

 
as a result of, or arising under, this Agreement shall constitute an “excess parachute payment” (as defined in section 280G(b)(1) of the Code) that
is subject to the imposition of an excise tax under section 4999 of the Code or that would not be deductible by reason of section 280G of the Code. 
 (f) Since the Company’s formation, no Person is or has been a Person which is (or at any relevant time was) an ERISA Affiliate. 
 (g) Neither the Company nor any Affiliate thereof has a formal plan, commitment, or proposal, whether legally binding or not, or has made a commitment to any individual to create any additional Employee Benefit Plan or modify or change any
existing Employee Benefit Plan that would affect any current employee or consultant, or former employee, of the Company, or any beneficiary or alternate payee of such an individual. No events have occurred or are expected to occur with respect to
any Employee Benefit Plan that would cause a material change in the cost of providing the benefits under such plan or would cause a material change in the cost of providing for other Liabilities of such plan. 
 (h) Each Employee Benefit Plan that is maintained by the Company or any ERISA Affiliate or to which the Company or any ERISA Affiliate is a party and
that is subject to Section 409A of the Code has been operated in good faith compliance with the requirements of Section 409A of the Code. 
 Section 3.16. Absence of Changes or Events. Since December 31, 2007, there has not occurred any Company Material Adverse Effect. Since December 31, 2007, (i) the business of the Company has been conducted in the
Ordinary Course of Business, (ii) the Company has not suffered any damage, destruction or loss (whether or not covered by insurance) to any of its assets, whether tangible or intangible, and (iii) except as set forth in
Section 3.16(iii) of the Company Disclosure Schedules, the Company has not taken any action that, if taken after the date of this Agreement, would constitute a breach of Section 5.1. 
 Section 3.17. Compliance with Laws. 
 (a) The Company has complied in all material respects with all applicable Orders and all applicable Laws, including without limitation all Laws related to alcoholic beverage control and rules and regulations promulgated by the Federal
Communications Commission applicable to the business of the Company. The Company has not received any notice or other communication from any Person that alleges that the Company is not in compliance in any respect with any applicable Order or
material applicable Law. This Section 3.17(a) does not relate to (i) matters with respect to Taxes, which are the subject of Section 3.13; (ii) matters with respect to ERISA, which are the subject of Section 3.15; or
(iii) matters with respect to environmental matters, which are the subject of Section 3.17(b). 
 (b) Section 3.17(b) of the
Company Disclosure Schedules sets forth (i) all opinion letters obtained by the Company from state Alcoholic Beverage Commissions or their equivalent and (ii) all opinions from legal counsel with respect to such letters or applicable Law.

 (c) Since the Company’s inception, the Company has not received any notice or other communication from any Person that alleges that
the Company is not in compliance with any Environmental Law or subject to Liability under any Environmental Law. The Company holds, and is in compliance with, all Environmental Permits required for the Company to conduct its business, and is in
compliance in all respects with all Environmental Laws. The Company has 

  

 26 

 
not entered into or agreed to, and is not subject to, any Order relating to compliance with any Environmental Law or to investigation or cleanup of Hazardous
Material. The Company has no contingent Liabilities including any assumed, whether by contract or operation of law, Liabilities, in connection with any Hazardous Materials or arising under any Environmental Laws in connection with its business or
any formerly owned or operated divisions, subsidiaries, or companies. The Company has never owned, leased or operated any real property other than the Real Estate Assets including the Leased Properties. The Company has not disposed of, or arranged
for the disposal of, Hazardous Materials at any onsite or offsite location, and to the knowledge of the Company, there has not been any Release of Hazardous Materials on, at or under any of the Real Estate Assets including the Leased Properties or
any other property or facility formerly owned, leased or operated by the Company or any of its predecessors. 
 Section 3.18.
Employee and Labor Matters. 
 (a) There is not any, and during the past two (2) years there has not been any, labor strike,
dispute, work stoppage or lockout pending or threatened, against or affecting the Company. No union organizational campaign is in progress with respect to the employees of the Company and no question concerning representation of such employees
exists. The Company is not engaged in any unfair labor practice and there are not any unfair labor practice charges or complaints against the Company pending or threatened, before the National Labor Relations Board or any other similar authority and
no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is so pending against Company, or to the knowledge of the Company, threatened against it. There are not any pending or threatened, union
grievances against the Company. There are not any pending or threatened, charges against the Company before the Equal Employment Opportunity Commission or any state or local agency responsible for the prevention of unlawful employment practices. The
Company has not received any written or oral notice or other communication during the past two (2) years of the intent of any Governmental Entity responsible for the enforcement of labor or employment laws to conduct an investigation of or
affecting the Company and no such investigation is in progress. 
 (b) Section 3.18(b) of the Company Disclosure Schedules sets forth
the name of each employee and consultant of the Company as of the date hereof, together with the current job title or relationship to the Company and the current annual salary (including bonus) for each such Person, including a description of
applicable bonus plans. 
 (c) The Company has classified all individuals who perform services for it correctly under the Employee Benefit
Plans, ERISA and the Code as common law employees, independent contractors or leased employees. 
 Section 3.19. Transactions with
Affiliates. Section 3.19 of the Company Disclosure Schedules describes any transaction since the date of the Company’s incorporation between the Company, on the one hand, and any Company Shareholder or Affiliate (other than the
Company) of any Company Shareholder, on the other hand. Except as set forth in Section 3.19 of the Company Disclosure Schedules, none of the transactions or arrangements described in Section 3.19 of the Company Disclosure Schedules will
continue in effect subsequent to the Closing. After the Closing, none of the Company Shareholders or any Affiliate thereof (other than the Company) will have any interest in any property (real or personal, tangible or intangible) or Contract of the
Company. 
  

 27 

 Section 3.20. Corporate Name. The Company (i) has the exclusive right to use its name as
the name of a corporation in Texas and any other jurisdiction in which the Company does business and (ii) has not received any notice of conflict since its formation with respect to the rights of others regarding the corporate name of the
Company. 
 Section 3.21. Accounts Receivable. All customer accounts receivable of the Company, whether reflected in the
Financial Statements or subsequently created, have arisen from bona fide transactions in the Ordinary Course of Business and are fully collectible. Since December 31, 2007, there have not been any write-offs of such customer accounts
receivable. The Company has good and marketable title to its customer accounts receivable, free and clear of all Liens. 
 Section 3.22.
Suppliers and Customers. Since December 31, 2007: (i) none of the Company’s top ten (10) vendors (based upon the aggregate payments by the Company to such vendors for the twelve (12) months ended December 31,
2007) has given the Company notice that such vendor will cease to supply or adversely change its price or terms to the Company of any products or services and (ii) none of the Company’s customers has given the Company notice that such
customer will cease to purchase or adversely change the quantity purchased from the Company of any products or services. 
 Section 3.23. Brokers. No agent, broker, investment banker or other firm or Person is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee in connection with any of the
transactions contemplated by this Agreement with respect to the Company. 
 Section 3.24. Accounts; Powers of Attorney; Officers and
Directors. Section 3.24 of the Company Disclosure Schedules sets forth (i) a true and complete list of all bank and savings accounts of the Company, identifying with respect to each any Person authorized to sign thereon, (ii) true
and complete copies of all corporate borrowing, depository and transfer resolutions, identifying with respect to each any Person entitled to act thereunder, (iii) a true and complete list of all powers of attorney granted by the Company,
identifying with respect to each any Person authorized to act thereunder and (iv) a true and complete list of all officers and directors of the Company. 
 Section 3.25. Effect of Transaction. No lessor, lessee, licensor, licensee, officer, employee, contractor, distributor, vendor, client, customer, supplier, Affiliate or other Person having a relationship
with the Company has informed the Company that such Person intends to change such relationship because (in part or in whole) of the consummation of the Merger or the other transactions contemplated by this Agreement. 
 Section 3.26. Certain Business Practices. Neither the Company nor any of its respective directors, officers, agents or employees, has
(i) used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to political activity; (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic
political parties or campaigns or violated any provision of the Foreign Corrupt Practices Act of 1977 or (iii) made any payment in the nature of criminal bribery. 
 Section 3.27. No Former Business. The Company has not, alone or with any other Person, owned or operated any business other than its current business. 
  

 28 

 Section 3.28. Disclosure. No information included in the Company Disclosure Schedules or in
any other disclosure statement given to the Company Shareholders of the Company relating to the Merger, this Agreement or the other transactions contemplated hereby, including any disclosure sent to such shareholders in connection with obtaining the
Company Shareholder Approval but excluding information provided or furnished to the Company by Parent or any of its Representatives expressly for inclusion therein (as of the date of the mailing or transmittal, as of the date the Company Shareholder
Approval is obtained and as of the Effective Time), and no representation or warranty of the Company contained in this Agreement or any other written agreement or instrument furnished by the Company pursuant to this Agreement (excluding, however,
the Budget and Operating Plan), and no statement contained in any document, certificate or schedule furnished or to be furnished by or on behalf of the Company to Parent or any of its Representatives pursuant to this Agreement (excluding, however,
the Budget and Operating Plan), contains or will contain any untrue statement of a material fact, or omits or will omit to state any material fact required to be stated therein or necessary in order to make the statements herein or therein, in light
of the circumstances under which they are or will be made, not misleading or necessary in order to fully and fairly provide the information required to be provided in any such document, certificate or schedule or in order to comply with applicable
Law. There is no fact that is known by the Company relating to the Company that the Company has failed to disclose in writing to Parent that has resulted or could reasonably be expected to result in a Company Material Adverse Effect. 
 ARTICLE 4 
 REPRESENTATIONS
AND WARRANTIES OF PARENT AND MERGER SUB 
 Parent and Merger Sub represent and warrant to the Company as follows, as of the date hereof and as of the Closing: 
 Section 4.1. Organization and Standing. Each of Parent and Merger Sub is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of Delaware and the Laws of the State of Texas,
respectively. Each of Parent and Merger Sub has made available to the Company true and complete copies of its Constitutive Documents, with all amendments thereto, as in effect on the date of this Agreement and the Closing Date. Parent is duly
qualified and in good standing to do business as a foreign company in each jurisdiction in which its assets are located and wherever the conduct or nature of its business makes such qualification necessary. Parent has made available to the Company
prior to the date hereof true and complete copies of Parent’s Constitutive Documents, in each case as amended through the date of this Agreement. 
 Section 4.2. Authority; Execution and Delivery; Enforceability. Each of Parent and Merger Sub has full corporate power and authority to execute and deliver this Agreement and the Transaction Agreements to
which it is, or is specified to be, a party and to consummate the Merger and the other transactions contemplated hereby and thereby. The execution and delivery by each of Parent and Merger Sub of this Agreement and the Transaction Agreements to
which it is, or is specified to be, a party and the consummation by the Merger Sub of the Merger and the other transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action. Each of Parent and Merger Sub
has duly executed and delivered this Agreement and prior to the Closing will have duly executed and delivered each Transaction 

  

 29 

 
Agreement to which it is, or is specified to be, a party, and this Agreement constitutes, and each Transaction Agreement to which it is, or is specified to
be, a party will after the Closing constitute, its legal, valid and binding obligation, enforceable against it in accordance with its terms. 
 Section 4.3. Capitalization. and outstanding Capital Stock of Parent, including the number of shares, options, warrants or similar rights authorized and outstanding, is as set forth in Section 4.3 of the Parent Disclosure
Schedules. All issued and outstanding shares of Capital Stock of Parent have been duly authorized and validly issued and are fully paid and non-assessable. Except as set forth on Section 4.3 of the Parent Disclosure Schedules, there are no
outstanding securities convertible into or exchangeable for the Capital Stock of Parent, or warrants to purchase or to subscribe for any shares of such stock or other securities of Parent. The rights, privileges and preferences of Parent’s
Capital Stock as of the Closing are as stated in the Constitutive Documents of Parent. Parent has furnished to the Company true and complete copies of Parent’s stock option or other equity incentive plans. 
 Section 4.4. No Conflict; Consents. Except as would not result in a Parent Material Adverse Effect, the execution and delivery by each of
Parent and Merger Sub of this Agreement do not, the execution and delivery by each of Parent and Merger Sub of the Transaction Agreements to which it is a party will not, and the consummation of the Merger and the other transactions contemplated
hereby and thereby and compliance by Parent and Merger Sub with the terms hereof and thereof will not conflict with, or result in any breach, violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right
of termination, cancellation or acceleration of any obligation or to loss of a benefit under, or result in the creation of any Lien upon any of the properties or assets of Parent or Merger Sub under, or give rise to any increased, additional,
accelerated or guaranteed rights or entitlements under, any provision of (i) the Constitutive Documents of Parent or Merger Sub, (ii) except as set forth in Section 4.4 of the Parent Disclosure Schedules, any Contract to which Parent
or Merger Sub is a party or by which any of its properties or assets is bound, or (iii) any Order or any Law applicable to Parent or Merger Sub or their properties or assets. Except as would result in a Parent Material Adverse Effect, no
Consent of, or registration, declaration or filing with, any Governmental Entity is required to be obtained or made by or with respect to Parent or Merger Sub in connection with (A) the execution, delivery and performance of this Agreement or
any Transaction Agreement or the consummation of the transactions contemplated hereby and thereby or (B) the ownership by Parent of the Company immediately following the Closing, other than the filing of the Texas Articles of Merger with the
Texas Secretary of State. 
 Section 4.5. Financial Statements. 
 (a) Section 4.5(a) of the Parent Disclosure Schedules sets forth (i) the unaudited consolidated balance sheets and profit and loss statements of
Parent as of December 31, 2007, and the related statements of cash flows and stockholders’ equity for the respective fiscal years then ended; and (ii) the unaudited consolidated balance sheet and profit and loss statements of Parent
for the period from January 1, 2008 to June 30, 2008, and the related statements of cash flows and stockholders’ equity for the six months then ended. 
 (b) Parent (i) maintains books, records, and accounts that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Parent in all material respects, and
(ii) the financial statements referenced in Section 4.5(a) have been 

  

 30 

 
prepared from the books, records and accounts of Parent, were prepared in accordance with GAAP consistently applied throughout the periods specified therein
(except as may be indicated in the notes thereto), are true and complete, and present fairly, in all material respects, the financial condition, results of operations and cash flows of Parent as of the respective dates thereof and for the respective
periods indicated. 
 Section 4.6. Undisclosed Liabilities; Indebtedness. 
 (a) Parent does not have any Liabilities, except (i) as specifically disclosed in the Financial Statements and any notes thereto, (ii) for
Liabilities incurred in the Ordinary Course of Business since June 30, 2008 and (iii) for Liabilities incurred in connection with the negotiation of this Agreement and the other Transaction Agreements, and the consummation of the
transactions contemplated hereby and thereby. 
 (b) Except as set forth in Section 4.6(b) of the Parent Disclosure Schedules, Parent
does not have any outstanding Indebtedness. 
 Section 4.7. Intellectual Property. 
 (a) Except as set forth on Section 4.7(a) of the Parent Disclosure Schedules, Parent is the sole and exclusive owner of, and has the right to use,
sell and license, as the case may be, free and clear of all Liens, all Intellectual Property used, sold or licensed by Parent in the business of Parent as presently conducted. 
 (b) Except as disclosed in Section 4.7(b) of the Parent Disclosure Schedules, the products and operation of the business of Parent and the use of
Intellectual Property and all tangible embodiment thereof by Parent, and its present and currently proposed business practices and methods, do not infringe, constitute an unauthorized use of, or misappropriate, dilute or violate or otherwise
conflict with any Intellectual Property right of any third party. The Intellectual Property owned by or licensed to Parent pursuant to a valid and enforceable written Contract includes all of the Intellectual Property necessary to enable Parent to
conduct its business in the manner in which such business has been and is currently being conducted. 
 (c) Except as disclosed in
Section 4.7(c) of the Parent Disclosure Schedules, Parent is not the subject of any pending or, to Parent’s knowledge, threatened Proceeding which (i) involves a claim or notice of infringement of, unauthorized use of, or
misappropriation, dilution or violation of or conflict with any Intellectual Property of any third party, or (ii) challenging the ownership, use, validity, priority, duration, scope, use, right to use, enforceability or effectiveness of any
Intellectual Property owned by or licensed to Parent (including without limitation any interference, reissue, reexamination, opposition, concurrent use, cancellation, invalidity or other similar Proceeding). All material Intellectual Property owned
by or licensed to Parent is valid, enforceable and in full force and effect, and has not through action or failure to act lapsed, been abandoned or otherwise been forfeited, or is likely to be forfeited, in whole or in part. 
 (d) To Parent’s knowledge, except as disclosed in Section 4.7(d) of the Parent Disclosure Schedules, no third party is infringing, violating,
misusing, diluting or misappropriating any Intellectual Property owned by or licensed to Parent and no such claims have been made against a third party by Parent, or to the knowledge of Parent, by any Person who has licensed Intellectual Property to
Parent with respect to such Intellectual Property. 
  

 31 

 (e) Parent has taken reasonable measures to protect the value of all Intellectual Property used in the
conduct of the business of the Parent, including requiring all Parent employees to execute an agreement which includes provisions sufficient to ensure that Parent or one of its Subsidiaries becomes the sole owner of any Intellectual Property created
by such employees within the scope of his or her employment, or in the case of a Person other than an employee from the services such Person performs for Parent. No inadvertent or unauthorized disclosure of any non-public Intellectual Property has
occurred, whether through negligence, corporate espionage, or otherwise. 
 Section 4.8. Litigation. There is no Proceeding
before any Governmental Entity pending or, to Parent’s knowledge, threatened, to which Parent or Merger Sub is a party, that questions the validity of this Agreement or the other Transaction Agreements to which Parent or Merger Sub is a party,
or Parent’s or Merger Sub’s right to enter into this Agreement or the other Transaction Agreements to which it is a party or to consummate the transactions contemplated hereby or thereby. 
 Section 4.9. Brokers. No agent, broker, investment banker or other firm or Person is or will be entitled to any broker’s or
finder’s fee or any other commission or similar fee in connection with any of the transactions contemplated by this Agreement with respect to Parent. 
 Section 4.10. Absence of Changes or Events. Except as set forth on Section 4.10 of the Parent Disclosure Schedules, since December 31, 2007, there has not occurred any Parent Material Adverse
Effect. 
 Section 4.11. Compliance with Laws. Parent has complied in all material respects with all applicable Orders and all
applicable Laws and rules and regulations promulgated by the Federal Communications Commission applicable to the business of Parent. Parent has not received any notice or other communication from any Person that alleges that Parent is not in
compliance in any respect with any applicable Order or material applicable Law. 
 Section 4.12. Disclosure. No information
included in the Parent Disclosure Schedules, and no information that has been provided or furnished by Parent or its Representatives to the Company expressly for inclusion in any disclosure statement given to the Company Shareholders of the Company
relating to the Merger, this Agreement or the other transactions contemplated hereby (as of the date of the mailing or transmittal, as of the date the Company Shareholder Approval is obtained and as of the Effective Time), and no representation or
warranty of Parent contained in this Agreement or any other written agreement or instrument furnished by Parent pursuant to this Agreement, and no statement contained in any document, certificate or schedule furnished or to be furnished by or on
behalf of Parent to the Company or any of its Representatives pursuant to this Agreement, contains or will contain any untrue statement of a material fact, or omits or will omit to state any material fact required to be stated therein or necessary
in order to make the statements herein or therein, in light of the circumstances under which they are or will be made, not misleading or necessary in order to fully and fairly provide the information required to be provided in any such document,
certificate or schedule or in order to comply with applicable Law. There is no fact that is known by the Parent relating to the Parent that the Parent has failed to disclose in writing to the Company that has resulted or could reasonably be expected
to result in a Parent Material Adverse Effect. 
  

 32 

 ARTICLE 5 
 CERTAIN COVENANTS 
 Section 5.1. Conduct of
Business. Except with the prior written consent of Parent, from the date hereof to the Effective Time, and except as contemplated by this Agreement or the other Transaction Agreements or as necessary or appropriate to consummate the transactions
hereunder or thereunder, the Company shall (i) conduct its businesses in the Ordinary Course of Business and (ii) use all reasonable efforts to preserve intact its current business organization, keep its physical assets in good working
condition, preserve, maintain the value of, renew, extend and keep in full force and effect all Intellectual Property rights, keep available the services of its current officers and employees and keep its relationships with customers, suppliers,
licensors, licensees, distributors and others having business dealings with it to the end that its goodwill and ongoing business shall be unimpaired at the Effective Time. Without limiting the generality of the foregoing, the Company shall not,
without the prior written consent of Parent: 
 (a) amend its Constitutive Documents; 
 (b) (i) declare, set aside or pay any dividend on, or make any other distribution (whether in cash, stock or property) in respect of,
any of its Capital Stock; (ii) split, combine or reclassify any of its Capital Stock, or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of its Capital Stock; or
(iii) purchase, redeem or otherwise acquire any shares of its Capital Stock, or any option, warrant, call or right relating to such shares, interests or other securities (including any Options); 
 (c) issue, deliver, sell or grant (i) any shares of its Capital Stock, (ii) any Voting Company Debt or other voting securities,
(iii) any securities convertible into or exchangeable for, or any options, warrants or rights to acquire, any such shares, Voting Company Debt, voting securities or convertible or exchangeable securities or (iv) any “phantom”
stock, “phantom” stock rights, stock appreciation rights or stock-based performance units, other than the issuance of Company Common Shares upon the exercise of Options or the conversion of Company Preferred Shares, in each case
outstanding on the date of this Agreement and in accordance with the terms of such Options or Company Preferred Shares on the date of this Agreement; 
 (d) repurchase, prepay, create, incur, assume or modify any terms of any Indebtedness of the Company, issue or sell any warrants or other rights to acquire any Indebtedness of the Company, make any loans, advances or
capital contributions to, or investments in, any Person, enter into any “keep-well” or other Contract to maintain any financial statement condition of another Person or enter into any Contract having the economic effect of any of the
foregoing; 
 (e) sell, lease (as lessor), license or otherwise dispose of or subject to any Lien any properties or assets of
the Company, except in the Ordinary Course of Business; 
 (f) enter into any lease or sublease of real property (whether as a
lessor, sublessor, lessee or sublessee) or modify, amend, terminate or fail to exercise any right to renew any lease or sublease of real property; 
  

 33 

 (g) acquire or agree to acquire (i) by merging or consolidating with, or by
purchasing a substantial portion of the assets of, or by any other manner, any equity interest in or business of any Person or (ii) any assets that are material, individually or in the aggregate, to the Company, except purchases of inventory in
the Ordinary Course of Business; 
 (h) change its fiscal year, revalue any of its assets or make any changes in financial
accounting methods, principles, practices or policies, except as required by GAAP or applicable Law; 
 (i) make or change any
Tax election; change any Tax accounting period or method; file any amended Tax Return; enter into any closing agreement with respect to Taxes; settle any Tax claim or assessment; surrender any right to claim a refund of Taxes; consent to any
extension or waiver of the limitations period for the assessment of any Tax; take any action outside the Ordinary Course of Business whose effect would be to increase the Company’s present or future Tax liability or to decrease the
Company’s present or future Tax assets; 
 (j) (i) grant any awards under any Employee Benefit Plan (including the
grant of stock options, stock appreciation rights, stock based or stock related awards, performance units or Restricted Stock or the removal of existing restrictions in any Contract, Employee Benefit Plan or Benefit Agreement or awards made
thereunder), (ii) pay or provide to any Employee any bonus, other amount or other benefit, or make any advance or loan to any Employee, not provided for under any Contract, Employee Benefit Plan in effect on the date of this Agreement other
than the payment of base compensation or advances for business expenses in the Ordinary Course of Business, (iii) grant to any Company Personnel any increase in compensation (including any increase in severance or termination pay),
(iv) enter into any employment, consulting, indemnification, severance or termination agreement with any Employee, (v) establish, adopt, enter into or amend in any material respect any collective bargaining agreement or Employee Benefit
Plan or (vi) take any action to accelerate the vesting or payment of any compensation or benefit under any Contract, Employee Benefit Plan or to fund or in any other way secure the payment of compensation or benefits under any Contract or
Benefit Plan or make any material determinations under any Employee Benefit Plan; 
 (k) incur or commit to incur or defer or
commit to defer any expenditure (or any Liability) other than as provided in, or take any action inconsistent with, the Company’s spreadsheet entitled “Finance-PL-06_25_08,” previously delivered to, and approved by, Parent, as may be
revised with the prior written approval of Parent (the “Budget and Operating Plan”), including without limitation commitment for the purchase of inventory or for capital expenditures, such approval not to be unreasonably withheld;

 (l) enter into any Contract (or any substantially related Contracts, taken together) (i) that would constitute a
Material Contract or (ii) if consummation of the Merger or any of the other transactions contemplated hereby or compliance by the Company with the provisions of this Agreement will conflict with, or result in any violation or breach of, or
default (with or without notice or lapse of time or both) under, or give rise to a right of, or result in, termination, cancellation or acceleration of any 

  

 34 

 
obligation or to a loss of a benefit under, or result in the creation of any Lien in or upon any of the properties or assets of the Company or Parent or any
of Parent’s Subsidiaries under, or give rise to any increased, additional, accelerated or guaranteed rights or entitlements under, any provision of such Contract; 
 (m) pay, discharge, settle or satisfy any Lien, Liabilities (whether absolute, accrued, asserted or unasserted, contingent or otherwise,
including claims of shareholders and any shareholder litigation relating to the Merger or any other transaction contemplated hereby), other than the payment, discharge or satisfaction, (i) in the Ordinary Course of Business or in accordance
with their terms, of Liabilities specifically disclosed in the Most Recent Balance Sheet or incurred since the Most Recent Balance Sheet Date in the Ordinary Course of Business (and all such Liabilities incurred in the Ordinary Course of Business
shall be paid or otherwise satisfied in the manner and time period consistent with past practice in the normal course of business) and (ii) Liabilities disclosed on Section 3.6(a) of the Company Disclosure Schedules incurred in connection
with this Agreement or the other Transaction Agreements or as necessary or appropriate to consummate the transactions hereby or thereby; waive, release or assign any rights or claims under, fail to take a required action under, permit the lapse of
or default under, or modify, amend or terminate any Material Contract; or cancel any material Indebtedness of another Person or waive any claims or rights of substantial value; 
 (n) create or have any Subsidiary of the Company; 
 (o) make any change in the Company’s customary methods of accounting or accounting practices or payment or credit practices, or
granted any extensions of credit other than in the Ordinary Course of Business; 
 (p) make any change in the Company’s
cash management, including with respect to payment of Indebtedness, collection of receivables, payment of payables or maintenance of working capital levels; or 
 (q) authorize any of, or commit, resolve or agree, to take any of the foregoing actions. 
 Section 5.2. Access. The Company shall (i) make available for inspection by Parent and its Representatives all of the Company’s
properties, assets, books, records (including the work papers of the Company’s external accountants) and Contracts and any other materials reasonably requested by any of them relating to the Company at such times as Parent may request;
(ii) make available to Parent and its Representatives the officers, other senior management and Representatives of the Company for interviews, at such times as Parent and its Representatives may reasonably request, to discuss the information
furnished to Parent and its Representatives and otherwise discuss the Company’s existing and prospective businesses and assets and liabilities; (iii) use its commercially reasonable efforts to assist in gaining reasonable access for
Parent, at such times as Parent and its Representatives may reasonably request, to the Company’s lenders, creditors, lessors, lessees, licensors, licensees, officers, employees, developers, contractors, distributors, vendors, clients,
customers, suppliers, Affiliates or other Persons having a material business relationship with the Company; and (iv) otherwise assist Parent and its Representatives in becoming familiar with the Company’s existing and prospective
businesses and assets and liabilities to such extent and at such times as Parent and its Representatives may request. Any and all such investigations shall be conducted in a manner 

  

 35 

 
that does not unreasonably interfere with the conduct of the business of the Company. Any information that is provided pursuant to this Section 5.2
shall be subject to the Mutual Non-Disclosure & Confidentiality Agreement dated as of June 1, 2008, between Parent and the Company (the “Nondisclosure Agreement”). 
 Section 5.3. Tax Matters. 
 (a)
All stamp, transfer, documentary, sales, use, registration and other such Taxes (including all applicable real estate transfer or gains Taxes) and related fees (including any penalties, interest and additions to Tax) incurred in connection with the
Merger and the other transactions contemplated hereby shall be paid by the Company. The Company Shareholders’ Representative and Parent shall cooperate in timely filing all Tax Returns as may be required to comply with the provisions of such
Tax Laws. Parent and the Company Shareholders’ Representative will reasonably cooperate with each other to lawfully minimize any such Taxes. Promptly upon Parent’s request, the Company Shareholders’ Representative shall provide Parent
with any information that is required with respect to any statement to be furnished to the Company’s shareholders or reporting requirements under Sections 6043 and 6043A of the Code, the regulations promulgated thereunder or forms prescribed by
the United States Secretary of the Treasury. 
 (b) The Company shall cause the provisions of any Tax allocation, indemnity or sharing
Contract between any Company Shareholder, or any Affiliates thereof (other than the Company) or any third party, on the one hand, and the Company, on the other hand, to be terminated on or before the Closing Date. 
 (c) The Company shall, prior to the Closing, obtain the written consent of the holders of its Capital Stock for any payment of consideration in
connection with the Merger that, in the absence of such consent, would constitute an “excess parachute payment” within the meaning of Section 280G of the Code. Such consent shall be in a form sufficient to meet the “shareholder
approval” requirements of Section 280G(b)(5) of the Code and Treas. Reg. § 1.280G-1 (Q&A 7). In addition, the Company shall take such other actions as may be appropriate to prevent the application of Section 280G of the Code
to any payment made in connection with the Merger. 
 (d) From the date hereof through the Closing Date, the Company shall not effect any
extraordinary transactions (other than any such transactions expressly required by applicable Law or by this Agreement) that could result in Tax liability to the Company in excess of Tax liability associated with the conduct of its business in the
ordinary course. 
 (e) Neither the Company nor any of its Subsidiaries shall take any action that would reasonably be likely to prevent the
Merger from qualifying as a reorganization within the meaning of Section 368(a) of the Code (a “368(a) Reorganization”), and prior to the Effective Time, the Company and its Subsidiaries shall use their best efforts to cause
the Merger to qualify as a 368(a) Reorganization. 
 (f) Neither Parent nor any of its Subsidiaries shall take any action that would
reasonably be likely to prevent the Merger from qualifying as a 368(a) Reorganization, and prior to the Effective Time, Parent and its Subsidiaries shall use their best efforts to cause the Merger to qualify as a 368(a) Reorganization. 

 

 36 

 Section 5.4. Notice of Certain Events. The Company shall promptly notify Parent of, and
furnish Parent with any information it may reasonably request with respect to, the occurrence of any event or condition or the existence of any fact that may cause any of the conditions to the obligation of Parent to consummate the Merger set forth
in Section 7.2 not being satisfied. The Company’s satisfaction of its obligations under this Section 5.4 shall not relieve the Company of its obligations under this Agreement and no information delivered to Parent pursuant to this
Section 5.4 shall update the Disclosure Statement or the Company Disclosure Schedules. 
 Section 5.5. Insurance. The
Company shall use its commercially reasonable efforts to keep all insurance policies set forth in Section 3.12 of the Company Disclosure Schedules, or comparable replacements therefor, in full force and effect through the Effective Time and
such that such insurance policies will be in full force and effect immediately following the Effective Time. 
 Section 5.6.
Exclusivity. 
 (a) From the date of this Agreement through the Closing, the Company shall not, and shall not permit any of its
officers, directors, shareholders, Affiliates of shareholders, Representatives, or any Representative of any of the foregoing, to, directly or indirectly, encourage, solicit, initiate, participate or otherwise facilitate any inquiry, proposal,
offer, discussion or negotiation with, or provide any information or assistance to, any Person or group (other than Parent and its Representatives in their capacities as Representatives of Parent) concerning any (i) merger, reorganization,
share exchange, consolidation, business combination, joint venture, strategic alliance, recapitalization, liquidation, dissolution, sale of any securities or sale of material assets involving the Company, (ii) license or grant of rights to any
third party for any of the Company’s Intellectual Property or technology or (iii) similar transaction involving the Company. 
 (b)
Without limiting Section 5.6(a), it is understood that any violation of the restrictions set forth in Section 5.6(a) by any Person covered by Section 5.6(a), whether or not such Person is purporting to act on behalf of the Company,
shall be deemed to be a breach of Section 5.6(a) by the Company. 
 (c) If any of the Persons listed in Section 5.6(a) receives any
inquiry, proposal or offer of the nature described in Section 5.6(a), then the Company shall, within one Business Day thereafter, notify Parent of such inquiry, proposal or offer, indicating the name of the Person making the inquiry, proposal
or offer and the material terms, conditions and other aspects of such inquiry, proposal or offer, including a copy of any written materials received from such Person making the inquiry, proposal or offer. 
 Section 5.7. Shareholder Approval; Notices to Shareholders; Release. 
 (a) The Company shall set the date hereof as the record date for action to be taken by written consent by the holders of Capital Stock of the Company to
adopt this Agreement. As soon as practicable but in any case prior to the Closing, the Company shall deliver to the holders of Capital Stock of the Company a notice and disclosure statement (the “Disclosure Statement”) pursuant to
Section 10.355 of the TBOC, which shall comply with applicable Law and shall include (i) a summary of this Agreement and the transactions contemplated hereby and such other matters as are appropriate for such a disclosure document,
(ii) a statement that appraisal 

  

 37 

 
rights are available for the shares of Capital Stock of the Company pursuant to the Appraisal Statute and a copy of the Appraisal Statute and
(iii) except in the case of the Disclosure Statement given to shareholders executing a Written Consent (as defined below), notice that the Company Shareholder Approval has been obtained following execution and delivery of this Agreement. The
Company, acting through its Board of Directors, shall solicit the written consent of each such holder in favor of adopting the Merger Agreement and shall include in the Disclosure Statement the recommendation of its Board of Directors that the
holders of Capital Stock of the Company vote in favor of the adoption of the Merger Agreement. The Company agrees not to distribute the disclosure statement until Parent has had a reasonable opportunity to review and comment on such disclosure
statement and the Company reflects such comments in the Disclosure Statement. The Company shall ensure that all holders of Capital Stock who approve the Merger Agreement by written consent under Section 6.202 of the TBOC shall have done so by
executing and delivering a Written Consent and Release (as defined below). 
 (b) The Company will insure that the information in the
Disclosure Statement will not, at the time the Disclosure Statement is provided to the holders of Capital Stock of the Company, contain any statement that is false or misleading with respect to any material fact, or omit to state any material fact
necessary in order to make the statements made therein, in light of the circumstances under which they are made, not false or misleading. If at any time prior to the Effective Time any event or information should be discovered by the Company that
should be set forth in an amendment or supplement to the Disclosure Statement, the Company shall promptly inform Parent and shall communicate such information to the holders of Capital Stock of the Company as necessary and in an appropriate manner.
Any such amendment or supplement shall not be deemed to have cured any breach of representation or warranty for purposes of determining whether the conditions set forth in Section 7.2(a) have been satisfied, nor shall such supplement or
amendment limit or otherwise adversely affect the remedies of Parent under Section 8.1(a). The Company shall use its commercially reasonable efforts to cause each Company Shareholder to execute and deliver to Parent on or prior to the Closing
Date a Release Agreement in substantially the form of Exhibit H hereto (each a “Release”). The Company shall cause each Company Shareholder that is entitled to receive Share Consideration to provide evidence, satisfactory to
Parent, that such Shareholder is an “accredited investor” as defined in Regulation D under the Securities Act of 1933. The Company shall comply with all applicable Laws in connection with the foregoing. 
 Section 5.8. Delivery of Monthly Financial Statements. As promptly as possible following the last day of each month after the date of this
Agreement and until the Closing Date, and in any event within thirty (30) days after the end of each such month, the Company shall deliver to Parent the consolidated balance sheet of the Company and the related consolidated statements of income
and cash flows for the one-month period then ended and for the period from the beginning of the fiscal year through the end of such month, all certified by the chief financial officer of the Company to the effect that such interim financial
statements are prepared in accordance with GAAP on a basis consistent with the Financial Statements and present fairly, in all material respects, the financial condition and results of operations of the Company as of the date thereof and for the
period covered thereby (collectively, the “Monthly Financial Statements”). 
 Section 5.9. Satisfaction of
Conditions Including Consents. The Company will use its best efforts, to the extent commercially reasonable, to obtain the satisfaction of the conditions set forth in Section 7.2 of this Agreement, including without limitation, obtaining
all relevant consents required as specified in Section 3.4 of the Company Disclosure Schedules. 
  

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 ARTICLE 6 
 MUTUAL COVENANTS 
 Section 6.1. Commercially Reasonable
Efforts. From the date of this Agreement to the Closing and upon the terms and subject to the conditions set forth in this Agreement, each of the Parties shall use all commercially reasonable efforts to take, or cause to be taken, all actions,
and to do, or cause to be done, and to assist and cooperate with the other Parties in doing, all things necessary, proper or advisable to consummate and make effective, in the most expeditious manner practicable, the Merger and the other
transactions contemplated hereby, including (i) the obtaining of all necessary actions or nonactions, waivers, consents and approvals from Governmental Entities and the making of all necessary registrations and filings and the taking of all
reasonable steps as may be necessary to obtain an approval or waiver from, or to avoid an action or proceeding by, any Governmental Entity, (ii) the obtaining of all necessary consents, approvals, estoppels or waivers from third parties,
(iii) the defending of any lawsuits or other legal proceedings, whether judicial or administrative, challenging this Agreement or the consummation of the Merger, including seeking to have any stay or temporary restraining order entered by any
court or other Governmental Entity vacated or reversed, (iv) the execution and delivery of any additional instruments necessary to consummate the Merger and the other transactions contemplated hereby and to fully carry out the purposes of the
Transaction Agreements and (v) ensuring that its representations and warranties remain true and correct in all material respects through the Closing Date and that the conditions to the obligations of the other Parties to consummate the Merger
are satisfied. 
 Section 6.2. Expenses. Whether or not the Merger and the other transactions contemplated hereby are
consummated, each of the Parties shall bear its own fees and expenses incurred or owed in connection with the Merger, this Agreement and the other transactions contemplated hereby except as otherwise set forth in the computation of Net Working
Capital, Article 8 and the Escrow Agreement. Accordingly, any Company Transaction Expenses that are unpaid by the Company as of the Effective Time shall correspondingly decrease the Share Consideration and the Option Consideration on a
dollar-for-dollar basis, based on the Parent Stock Value. 
 ARTICLE 7 
 CONDITIONS PRECEDENT 
 Section 7.1.
Conditions to Each Party’s Obligation. The respective obligation of each Party to effect the Merger is subject to the satisfaction (or express written waiver by Parent and the Company) on or prior to the Closing Date of the following
conditions: 
 (a) Shareholder Approval and Related Notices. The Company Shareholder Approval shall have been duly obtained and
the holders of the Capital Stock of the Company shall have been given the notice to which they are entitled of the Merger (and related matters) under the Company’s Constitutive Documents or each of such holders shall have waived such notice
(and copies of such waivers shall have been provided to Parent). 
  

 39 

 (b) No Injunction or Restraint. No temporary restraining order, preliminary or permanent
injunction or other order or decree issued by any court of competent jurisdiction or other legal restraint or prohibition (collectively, “Legal Restraints”) preventing the consummation of the Merger shall be in effect;
provided, however, that prior to asserting this condition, subject to Section 6.1, each of the Parties shall have used all commercially reasonable efforts to prevent the entry of any such injunction or other order and to appeal as
promptly as possible any such injunction or other order that may be entered. 
 Section 7.2. Conditions to Parent’s
Obligation. The obligations of Parent and Merger Sub to effect the Merger are further subject to the satisfaction (or express written waiver by Parent) on or prior to the Closing Date of the following conditions: 
 (a) Representations, Warranties and Covenants of the Company. The representations and warranties of the Company set forth in this Agreement that
are qualified as to materiality shall be true and correct, and all other representations and warranties of the Company set forth in this Agreement that are not so qualified shall be true and correct in all material respects, in each case as of the
date of this Agreement and as of the Closing Date with the same effect as though made as of the Closing Date, except that the accuracy of representations and warranties that by their terms speak as of a specified date will be determined as of such
date. The Company shall have performed or complied with in all material respects all covenants, agreements and obligations required by this Agreement to be performed or complied with by the Company on or before the Closing Date. The Company shall
have delivered to Parent a certificate, dated the Closing Date and signed by the chief executive officer and chief financial officer of the Company, confirming the foregoing. 
 (b) No Material Adverse Effect. No event, change or development shall have occurred or be continuing that has had or could reasonably be expected
to have a Company Material Adverse Effect. 
 (c) No Injunction. There shall not be pending or threatened by any Governmental Entity
any Proceeding (or by any other Person any Proceeding which has a reasonable likelihood of success), (i) challenging or seeking to restrain or prohibit the Merger or any of the other transactions contemplated by this Agreement or seeking to
obtain from Parent or any of its Subsidiaries in connection with the Merger any damages that are material in relation to the Company, (ii) seeking to prohibit or limit the ownership or operation by Parent, its Subsidiaries or the Company of any
material portion of the business or assets of Parent, its Subsidiaries or the Company, or to compel Parent, its Subsidiaries or the Company to dispose of, hold separate or license any material portion of the business or assets of Parent, its
Subsidiaries or the Company, as a result of the Merger or any of the other transactions contemplated by this Agreement, (iii) seeking to impose limitations on the ability of Parent or any of its Subsidiaries to acquire or hold, or exercise full
rights of ownership of, any shares of Capital Stock of the Company, including the right to vote such shares on all matters properly presented to the shareholders of the Company or (iv) seeking to prohibit Parent or any of its Subsidiaries from
effectively controlling in any material respect the business or operations of the Company. 
 (d) Consents and Approvals. Parent shall
have received evidence, in form and substance reasonably satisfactory to it, that all consents and approvals of third parties (i) with respect to the Company, set forth in Section 3.4 of the Company Disclosure Schedules or otherwise
required under any Material Contract (in each case pursuant to written instruments in 

  

 40 

 
form and substance reasonably satisfactory to Parent and without payment of any consideration by the Company) and (ii) with respect to Parent, set forth
in Section 4.4 of the Parent Disclosure Schedules, or from any Governmental Entity in connection with the Merger, this Agreement and the other transactions contemplated hereby, have been obtained and are in full force and effect. 
 (e) Shareholder Approval and Releases. The holders of at least ninety-five percent (95%) of the Company Preferred Shares and the holders of
at least ninety-five percent (95%) of the Company Common Shares, in each case issued and outstanding immediately prior to the Effective Time, shall have executed and delivered a Written Consent (as defined below) and a Release, no holder shall
have taken any action, or threatened to take any action, to rescind, cancel or otherwise terminate such holder’s Written Consent, and Parent shall have received copies of such Written Consents and Releases. Each of the Shareholders entitled to
receive Share Consideration shall have delivered written evidence, satisfactory to Parent, that such Shareholder is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933. 
 (f) Agreements with Company Shareholders. At or prior to the Closing, the agreements listed in Section 3.19 of the Company Disclosure
Schedules and any other Contract between any Company Shareholder or Affiliate thereof, on one hand, and the Company, on the other hand (other than (i) any confidentiality, noncompetition and nonsolicitation provisions, or provisions assigning
or to assign inventions or other Intellectual Property or waiving to or waive any appraisal rights, contained therein inuring to the Company’s benefit, (ii) the Contracts listed in Section 7.2(f) of the Disclosure Schedule,
(iii) the Releases and any other agreements contemplated by this Agreement to be entered into in connection with this Agreement (including the agreements required by this Agreement to terminate other agreements)), shall have been terminated
pursuant to written agreements in form and substance reasonably satisfactory to Parent, without payment of any consideration by the Company, and there shall be no Liabilities of the Company with respect thereto. 
 (g) Other Documentation. Parent shall have received: 
 (i) from the Phillips & Reiter Law Firm, PLLC, counsel to the Company, an opinion in substantially the form of Exhibit I,
addressed to Parent and dated the Closing Date; 
 (ii) a certificate, issued by the Company pursuant to Treasury Regulation
Section 1.897-2(h) (as described in Treasury Regulation Section 1.1445-2(c)(3)), that the Company is not, and within the five year period ending on the Closing Date has not been, a U.S. real property holding corporation, as defined in
Section 897 of the Code; 
 (iii) written resignations, effective as of the Closing, of each director of the Company;

 (iv) counterparts of (A) the Escrow Agreement, duly executed and delivered by the Company Shareholders’
Representative and the Escrow Agent; (B) Employment Agreement, duly executed and delivered by Robert Weinschenk, and (C) each of the Ancillary Agreements, duly executed by the Company Preferred Shareholders and the Major Common
Shareholders; 
  

 41 

 (v) a Closing Consideration Certificate of the Company, dated the Closing Date and
signed by the chief financial officer of the Company, setting forth, with back-up calculations in reasonable detail, the amount of the Share Consideration to be paid to each holder of Company Common Shares and Company Preferred Shares, the Option
Consideration to be paid to each Option Holder pursuant to Section 2.9(a); and 
 (vi) such other certificates and other
documentation from the Company as Parent or its counsel shall have reasonably requested and as is customary with respect to the Merger and the other transactions contemplated by this Agreement. 
 Section 7.3. Conditions to the Company’s Obligation. The obligation of the Company to effect the Merger is subject to the satisfaction
(or express written waiver by the Company) on or prior to the Closing Date of the following conditions: 
 (a) Representations and
Warranties. The representations and warranties of Parent and Merger Sub set forth in this Agreement that are qualified as to materiality shall be true and correct, and all other representations and warranties of Parent and Merger Sub set forth
in this Agreement that are not so qualified shall be true and correct in all material respects, in each case as of the date of this Agreement and as of the Closing Date with the same effect as though made as of the Closing Date, except that the
accuracy of representations and warranties that by their terms speak as of a specified date will be determined as of such date. The Company shall have received a certificate, dated the Closing Date and signed on behalf of Parent by an authorized
signatory of Parent, confirming the foregoing. 
 (b) Covenants and Agreements. Parent and Merger Sub shall have performed or complied
with in all material respects all covenants, agreements and obligations required by this Agreement to be performed or complied with by them on or before the Closing Date. The Company shall have received a certificate, dated the Closing Date and
signed on behalf of Parent by an authorized signatory of Parent, confirming the foregoing. 
 (c) No Injunction. There shall not be
pending or threatened by any Governmental Entity any Proceeding (or by any other Person any Proceeding which has a reasonable likelihood of success), challenging or seeking to restrain or prohibit the Merger or any of the other transactions
contemplated by this Agreement. 
 (d) Governmental Consents and Approvals. The Company shall have received evidence, in form and
substance reasonably satisfactory to it, that all consents of Governmental Entities required in connection with the Merger, this Agreement and the other transactions contemplated hereby, have been obtained and are in full force and effect.

 (e) Ancillary Agreements. The Company Shareholders’ Representative shall have received counterparts of (i) the Escrow
Agreement, duly executed and delivered by Parent and the Escrow Agent; (ii) Noncompete Agreements, duly executed by Parent; (iii) Employment Agreement, duly executed by Parent; and (iv) each of the Ancillary Agreements, duly executed
and delivered by Parent and, in the case of the Amended Investors’ Rights Agreement, the holders of the majority of Registrable Securities (as defined in the Investors’ Rights Agreement). 
  

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 ARTICLE 8 
 INDEMNIFICATION 
 Section 8.1. Indemnification of Parent. From and after
the Closing, each of Parent and its Affiliates (including, from and after the Closing, the Surviving Corporation) (each, a “Parent Indemnified Party”) shall be entitled to be indemnified and held harmless from the Escrow Amount and,
to the extent that the Escrow Amount has been applied in its entirety to Losses under this Article 8, from any amounts that become payable pursuant to Section 2.3, by way of setoff, against any and all Losses suffered or incurred by such Parent
Indemnified Party, arising from, relating to or otherwise in connection with: 
 (a) any breach, as of the date of this
Agreement or as of the Closing Date, of any representation or warranty of the Company contained in this Agreement (other than in Section 3.13, which shall be governed by Section 8.4) or in any of the certificates furnished by the Company
pursuant to this Agreement (including any Company Disclosure Schedules or the Closing Consideration Certificate) without giving effect to any knowledge or materiality threshold or qualifier contained therein; 
 (b) any breach or failure to perform any covenant or agreement of the Company contained in this Agreement (other than in Section 5.3,
which shall be governed by Section 8.4); 
 (c) any failure of any Company Shareholder to have good, valid and marketable
title, free and clear of all Liens, to the Capital Stock of the Company issued in the name of such Company Shareholder and issued and outstanding immediately prior to the Effective Time; 
 (d) any claim by a shareholder or former shareholder of the Company, or such shareholder’s affiliates, or by any other Person,
seeking to assert, or based upon: (i) ownership or rights to ownership of any shares of stock of the Company; (ii) any right of such shareholder or shareholder’s affiliates, or a Company Shareholder or Option Holder (other than the
right to receive the Share Consideration, the Option Consideration or any other consideration provided in or contemplated by this Agreement), including any option, preemptive right or right to notice or to vote; (iii) any right under the
Constitutive Documents of the Company; (iv) any incorrect allocation of shares of Parent Common Stock (including Parent Common Stock issuable upon the exercise of the Roll-Over Options) or Parent Series D Preferred Stock in the Merger (as set
forth on the Closing Consideration Certificate); (v) the sale to Parent pursuant to this Agreement of shares held by such shareholder; or (vi) any other claim with respect to such shareholder’s or former shareholder’s shares of
the Company prior to the Merger; or 
 (e) any Indebtedness of the Company at Closing; 
 provided, however, that no Parent Indemnified Party shall be entitled to be indemnified pursuant to clause (a) above unless the aggregate of all Losses
for which Parent Indemnified Parties would, but for this proviso, be liable exceeds on a cumulative basis $25,000 (the “Company Shareholder Indemnity Threshold”), at which point each Parent Indemnified Party shall be entitled to be
indemnified for the aggregate Losses and not just amounts in excess of the Company Shareholder Indemnity Threshold (except that the foregoing proviso shall not apply to any breach of the representations and warranties set forth in Sections 3.1
(Organization and 

  

 43 

 
Standing), 3.2 (Capital Stock; Subsidiaries), 3.3 (Authority; Execution and Delivery; Enforceability), 3.4 (No Conflict; Consents), 3.6 (Undisclosed
Liabilities; Indebtedness), 3.15 (Employee Benefit Plans), 3.17 (Compliance with Laws), 3.18 (Employee and Labor Matters), and 3.23 (Brokers), the Closing Consideration Certificate or to any act of fraud). The consent of any particular Company
Shareholder or Option Holder shall not be required in order for Parent to be indemnified under this Article 8. 
 Section 8.2.
Indemnification of Company Shareholder Indemnified Parties. From and after the Closing, Parent shall indemnify the Company Shareholders and Option Holders and their Affiliates (each a “Company Shareholder Indemnified Party”)
against and hold each Company Shareholder Indemnified Party harmless from any and all Losses suffered or incurred by any such Company Shareholder Indemnified Party arising from, relating to or otherwise in connection with: 
 (a) any breach, as of the date of this Agreement or as of the Closing Date, of any representation or warranty of Parent or Merger Sub
contained in this Agreement or in the certificate furnished by Parent pursuant to this Agreement; or 
 (b) any failure to
perform any covenant or agreement of Parent or Merger Sub contained in this Agreement; 
 provided, however, that Parent’s liability under
this Section 8.2 shall be limited to the aggregate Escrow Amount and any amounts owed hereunder shall be paid in Parent Common Stock, Parent Series D Preferred Stock and options to purchase Parent Common Stock, based on the Parent Stock Value
as of the Closing Date. 
 Section 8.3. Indemnification Claims. 
 (a) In order for an Indemnified Party to be entitled to any indemnification provided for under Section 8.1 or 8.2 in respect of, arising out of or
involving a Third Party Claim (other than Tax Claims, which shall be governed by Section 8.4), such Indemnified Party must notify the Indemnifying Party in writing of the Third Party Claim (including in such notice a brief and specific
description of the applicable claim(s), including damages sought or estimated, to the extent actually known by Parent) within 20 Business Days after receipt by such Indemnified Party of notice of the Third Party Claim; provided,
however, that failure to give such notification shall not affect the indemnification provided under Section 8.1 or 8.2 except to the extent the Indemnifying Party has been actually prejudiced as a result of such failure or the provisions
of this Article 8 shall have expired pursuant to Section 8.5. Thereafter, the Indemnified Party shall deliver to the Indemnifying Party, within ten Business Days after the Indemnified Party’s receipt thereof, copies of all notices and
documents received by the Indemnified Party relating to the Third Party Claim. The Indemnified Party alone shall conduct and control the defense of such Third Party Claim. The Indemnified Party shall not be entitled to be indemnified or held
harmless under Section 8.1 or 8.2 for such Third Party Claim (but the amount at stake shall nevertheless be counted toward the Company Shareholder Indemnity Threshold) if it shall settle such Third Party Claim without the prior written consent
of the Indemnifying Party, unless the Indemnified Party has sought such consent and such consent has been unreasonably withheld or delayed, it being agreed that the Indemnifying Party shall not unreasonably withhold or delay such consent.

  

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 (b) In order for an Indemnified Party to be entitled to any indemnification provided for under this
Agreement other than in respect of, arising out of or involving a Third Party Claim, such Indemnified Party shall deliver notice of such claim with reasonable promptness to the Indemnifying Party (including in such notice a brief and specific
description of the applicable claim(s), including damages sought or estimated, to the extent actually known by Parent); provided, however, that failure to give such notification shall not affect the indemnification provided under
Section 8.1 or 8.2 except to the extent the Indemnifying Party has been actually prejudiced as a result of such failure or the provisions of this Article 8 shall have expired pursuant to Section 8.5. If the Indemnifying Party does not
notify the Indemnified Party within 20 Business Days following its receipt of such notice that the Indemnifying Party disputes the indemnity claimed by the Indemnified Party under Section 8.1 or 8.2, such indemnity claim specified by the
Indemnified Party in such notice shall be conclusively deemed a liability to be indemnified under Section 8.1 or 8.2 and the Indemnified Party shall be indemnified for the amount of the Losses stated in such notice to the Indemnified Party on
demand or, in the case of any notice in which the Losses (or any portion thereof) are estimated, on such later date when the amount of such Losses (or such portion thereof) becomes finally determined. 
 (c) Except with respect to fraud, from and after the Closing, the Escrow Agreement and any amounts payable under Section 2.3 shall be the sole and
exclusive means by which Parent may collect any Losses for which it is entitled to indemnification under this Agreement. Notwithstanding the foregoing, nothing in this Article 8 shall limit Parent’s recourse against any Company Shareholder or
Option Holder pursuant to the terms of any document to which such Company Shareholder or Option Holder is a party, such as a Release or Letter of Transmittal. 
 (d) With respect to any claim for indemnification pursuant to Section 8.1 or 8.4(a), references in this Agreement to the “Indemnifying Party” with respect to any right to give or receive notice or
consent shall be deemed to refer to the Company Shareholders’ Representative. Should the Company Shareholders’ Representative resign or be unable to serve, a new Company Shareholders’ Representative will be selected jointly by a vote
of Company Shareholders and Option Holders who, at Closing, held at least a majority of the Company Common Shares (on an as-converted basis and on an as-exercised basis with respect to Options), whose appointment shall be effective upon execution by
such successor of a joinder agreement providing for such successor to become a party to the Escrow Agreement as the Company Shareholders’ Representative, in which case such successor shall for all purposes of this Agreement and the Escrow
Agreement be the Company Shareholders’ Representative (and the prior acts taken by the succeeded Company Shareholders’ Representative shall remain valid for purposes of this Agreement and the Escrow Agreement). 
 Section 8.4. Tax Indemnification. 
 (a) The Parent Indemnified Parties shall be entitled to be indemnified and held harmless from the Escrow Amount, and, to the extent that the Escrow Amount has been applied in its entirety to Losses under this Article 8, from any amount that
becomes payable pursuant to Section 2.3, by way of setoff, against (i) all liability for Taxes of the Company for any Pre-Closing Tax Period, (ii) all liability (as a result of Treasury Regulation 1.1502-6(a) or otherwise) for Taxes
of any Person resulting from an agreement entered into or affiliation or membership in an affiliated, combined, consolidated, or unitary group with the Company on or before the 

  

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Closing Date, (iii) all Losses arising from, relating to or otherwise in connection with any breach of a representation, warranty or covenant contained
in Section 3.13 or Section 5.3; or (iv) all liability for reasonable legal fees and expenses and reasonable out-of-pocket costs incurred in connection any item in clause (i), (ii) or (iii) above (for purposes of this Article
8 and Section 8.4, such items shall be considered to be Losses). 
 (b) In the case of any taxable period that includes (but does not
end on) the Closing Date (a “Straddle Period”): 
 (i) real, personal and intangible property, franchise,
license, and other Taxes not imposed on income, receipts, sales, use, payment of wages, or other identifiable transactions or events of the Company for the Pre-Closing Tax Period shall be equal to the amount of such Taxes for the entire Straddle
Period multiplied by a fraction, the numerator of which is the number of days during the Straddle Period that are in the Pre-Closing Tax Period and the denominator of which is the number of days in the Straddle Period; and 
 (ii) the Taxes of the Company (other than those described in clause (i)) for the Pre-Closing Tax Period shall be computed as if such
taxable period ended as of the close of business on the Closing Date. 
 (c) With respect to the items under Section 8.4(a) (each, a
“Tax Claim”), the Parent Indemnified Party shall send prompt notice to the Company Shareholders’ Representative in writing of the Tax Claim; provided, however, that failure to give such notification shall not
affect the indemnification provided hereunder except to the extent the Indemnifying Parties have been actually prejudiced as a result of such failure. 
 (d) The Parent Indemnified Party alone shall conduct and control the defense of any Tax Claim. The Parent Indemnified Party shall not be entitled to be indemnified or held harmless under Section 8.4 for any Tax
Claim if it shall settle such Tax Claim without the prior written consent of the Company Shareholders’ Representative, unless the Indemnified Party has sought such consent and such consent has been unreasonably withheld or delayed, it being
agreed that the Company Shareholders’ Representative shall not unreasonably withhold or delay such consent. 
 (e) Any indemnity payment
made pursuant to this Section 8.4 shall be treated as an adjustment to the amount of the Share Consideration for Tax purposes, unless a final determination with respect to the Parent Indemnified Party causes such payment to be treated other
than as an adjustment to the amount of the Share Consideration for federal income tax purposes. 
  

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 Section 8.5. Termination of Indemnification. All representations, warranties and covenants
that are covered by the indemnification agreements in this Article 8 shall survive the Closing solely for purposes of this Article 8 and shall expire, and the right to be indemnified and held harmless shall terminate, on the date one year following
the Closing Date; provided, however, that, in accordance with the terms of the Escrow Agreement, such obligations to indemnify and hold harmless shall not terminate with respect to any Losses as to which the Indemnified Party shall
have, on or prior to such date, previously made a claim by delivering a notice of such claim to the Indemnifying Party. 
 Section 8.6.
No Right of Contribution. No Company Shareholder or Option Holder shall have any right of contribution against the Company or the Surviving Corporation with respect to any breach by the Company of any of its representations, warranties,
covenants or agreements. 
 ARTICLE 9 
 TERMINATION 
 Section 9.1. Termination. This Agreement may be terminated, and the Merger
contemplated hereby may be abandoned, at any time prior to the Effective Time whether before or after receipt of the Company Shareholder Approval: 
 (a) by mutual written consent of Parent, Merger Sub and the Company; 
 (b) by either Parent
or the Company: 
 (i) if the Merger is not consummated on or before the date that is two (2) months following the date
of this Agreement (the “Outside Date”), unless the failure to consummate the Merger is the result of a material breach of this Agreement by the Party seeking to terminate this Agreement; provided, however, that the
passage of such period shall be tolled for any part thereof during which any Party shall be subject to a nonfinal order, decree, ruling or action restraining, enjoining or otherwise prohibiting the consummation of the Merger; 
 (ii) if any Governmental Entity issues an order, decree or ruling or taken any other action permanently enjoining, restraining or
otherwise prohibiting the Merger and such order, decree, ruling or other action shall have become final and nonappealable; or 
 (iii) if any condition to the obligation of such Party to consummate the Merger set forth in Section 7.2 (in the case of Parent) or 7.3 (in the case of the Company) becomes incapable of satisfaction prior to the Outside Date;

 (c) by Parent, if the Company breaches or fails to perform in any material respect any of its representations, warranties
or covenants contained in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in Section 7.2(a) and (ii) cannot be or has not been cured within ten (10) days after the
giving of written notice to the Company of such breach; 
 (d) by the Company, if Parent breaches or fails to perform in any
material respect of any of its representations, warranties or covenants contained in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in Section 7.3(a) or 7.3(b) and
(ii) cannot be or has not been cured within ten (10) days after the giving of written notice to Parent of such breach; or 
  

 47 

 (e) by Parent if, within one hour after of the execution and delivery of this Agreement,
the holders of Capital Stock of the Company set forth in Section 3.2 of the Company Disclosure Schedules shall not have executed and delivered a written consent of shareholders and notice to the Company (the “Written Consent”),
substantially in the form attached hereto as Exhibit J, duly adopting the resolutions contained therein, or the Company Shareholder Approval shall not have been duly obtained. 
 Section 9.2. Effect of Termination. If this Agreement is terminated and the Merger and the other transactions contemplated hereby are
abandoned as described in this Article 9, this Agreement shall forthwith become void and of no further force or effect, except for the provisions of Sections 6.2 and 10.8 and this Section 9.2; provided that nothing in this
Section 9.2 shall be deemed to release any Party from any liability for any breach by such Party of the terms and provisions of this Agreement. 
 ARTICLE 10 
 GENERAL PROVISIONS 
 Section 10.1. Notices. All notices, requests, claims, demands, waivers and other communications under this Agreement shall be in writing and
shall be by facsimile, courier services or personal delivery to the following addresses, or to such other addresses as shall be designated from time to time by a Party in accordance with this Section 10.1: 
 (a) if to Parent or Merger Sub: 
 TouchTunes Holding Corporation 
 740 Broadway, Suite 1102 
 New York, New York 10003 
 Attention: Phil Livingston 
 Facsimile No.: (646) 365-0011 
 with a copy to: 
 Covington & Burling LLP 
 The New York Times Building 
 620 Eighth Avenue 
 New York, New York 10018 
 Attention: Ellen Corenswet 
 Facsimile No.: (212) 841-1010 
 (b) if to the Company: 
 National Broadcast Media Corp. 
 d/b/a Barfly Interactive Networks 
 2800 Industrial Terrace 
 Austin, Texas 78758 
 Attention: Robert Weinschenk 
 Facsimile No.: (512) 524-6018 
  

 48 

 with a copy prior to the Closing to: 
 Phillips & Reiter, PLLC 
 6805 Capital of Texas Highway, Suite 318 
 Austin, Texas 78731 
 Attention: Michael Dunn 
 Facsimile No.: (512) 646-1106 
 and with a copy after the Closing to: 
 Covington & Burling LLP 
 The New York Times Building 
 620 Eighth Avenue 
 New York, New York 10018 
 Attention: Ellen Corenswet 
 Facsimile No.: (212) 841-1010 
 (c) if to the Company Shareholders’ Representative to: 
 James C. (Rad) Weaver 
 c/o McCombs Family Partners, Ltd. 
 755 E. Mulberry Avenue, Suite 600 
 San Antonio, TX 78212 
 with a copy to: 
 Phillips & Reiter, PLLC 
 6805 Capital of Texas Highway, Suite 318 
 Austin, Texas 78731 
 Attention: Michael Dunn 
 Facsimile No.: (512) 646-1106 
 All
notices and communications under this Agreement shall be deemed to have been duly given (x) when delivered by hand, if personally delivered, (y) one Business Day after when delivered to a courier, if delivered by commercial one-day
overnight courier service or (z) when sent, if sent by facsimile, with an acknowledgment of sending being produced by the sending facsimile machine. 
 Section 10.2. Definitions. The following capitalized terms have the following meanings: 
 “Affiliate” means, with respect to any Person, a Person who is an “affiliate” of such first Person within the meaning of Rule 405 under the Securities Act of 1933. 
 “Barfly Screen” means a television or other electronic screen connected to a computer or other electronic device provided by the Company
that uses the Company’s Software to run digital advertisements and other promotional messages. 
  

 49 

 “Benefit Agreement” means any employment, deferred compensation, severance, termination,
retention, change in control, employee benefit, loan, indemnification, stock repurchase, consulting or similar agreement between the Company and any Company Personnel, or any agreement between the Company and any Company Personnel, the benefits of
which are contingent, or the terms of which are materially altered, upon the occurrence of a transaction involving the Company of the nature contemplated by this Agreement. 
 “Business Day” means any day other than (i) a Saturday or Sunday or (ii) a day on which banking institutions located in New
York City are permitted or required by Law, executive order or decree of a Governmental Entity to remain closed. 
 “Capital
Stock” means any capital stock or share capital of, other voting securities of, other equity interest in, or right to receive profits, losses or distributions of, any Person. 
 “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1986, codified at Part 6 of Title I of ERISA and section 4980B of
the Code, and similar applicable state Laws. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Company Disclosure Schedules” means a schedule of exceptions to the representations and warranties of the Company set forth in Article
3 and other items as set forth herein, delivered contemporaneously with this Agreement. 
 “Company Material Adverse Effect”
means any change, circumstance, development, state of facts, event or effect (i) that has had or could reasonably be expected to have a material adverse change or effect (taken alone or in the aggregate with any other adverse change or effect)
in or with respect to the business, assets, financial condition, results of operations or prospects of the Company or (ii) that could reasonably be expected to prevent or materially impede, interfere with, hinder or delay the consummation of
the Merger or the other transactions contemplated by this Agreement. 
 “Company Shareholder Approval” means the approval of
holders of at least (i) a majority of the Company Common Shares and the Company Preferred Shares, voting together as a single class, on an as-converted basis, and (ii) a majority of the Company Preferred Shares, voting together as a single
and collective class. 
 “Company Transaction Expenses means all fees and expenses incurred by the Company in connection with the
negotiation and preparation of this Agreement, the satisfaction of the covenants contained therein and the performance of the transactions contemplated hereby, including without limitation legal fees, accounting fees, valuation fees in connection
with stock option valuations, consulting fees and investment banking fees, if any. 
 “Constitutive Documents” means
(i) with respect to a Person that is a corporation, such Person’s certificate or articles of incorporation or certificate of formation and by-laws, (ii) with respect to a Person that is a limited liability company, such Person’s
certificate of formation and operating or limited liability company agreement, (iii) with respect to a Person that is a partnership, such Person’s partnership agreement, (iv) with respect to a Person that is a 

  

 50 

 
trust, such Person’s trust instrument or agreement, and (v) with respect to a Person that is a legal entity (including one of the type described in
clauses (i) through (iv)), any constitutive document of such entity or other document or Contract analogous to those described in clauses (i) through this clause (v). 
 “Contract” means any loan or credit agreement, bond, debenture, note, mortgage, indenture, guarantee, lease or other contract,
commitment, agreement, instrument, obligation, undertaking, license, permit, concession, franchise or legally binding arrangement or understanding, whether written or oral. 
 “Earn-Out Period means the eighteen-month period from July 1, 2008 through December 31, 2009. 
 “Employee” means any former or current director, officer, employee, independent contractor, consultant or other service provider of the
Company or an ERISA Affiliate. 
 “Employee Benefit Plan” means any collective bargaining agreement, any pension, profit
sharing or other retirement, bonus, deferred compensation, incentive compensation, equity purchase, equity appreciation, restricted equity, equity option or other equity-based (whether real or phantom), vacation pay, sick pay, severance or
termination pay, retention, disability, death benefit, employment, consulting, independent contractor, director, retention, hospitalization, fringe benefit, medical, dental, vision, life or other insurance or other plan, program, policy, arrangement
or Contract established, maintained, contributed to or required to be established, maintained or contributed to by the Company or any ERISA Affiliate, in each case, providing benefits to any Employee, and in each case whether written or oral,
informal or formal, subject to ERISA or not. 
 “Environmental Law” means any applicable Law (including but not limited to
principles of common law) and binding administrative or judicial interpretations thereof relating to (i) the protection of the environment (including indoor and outdoor air, water vapor, surface water, groundwater, wetlands, drinking water
supply, surface or subsurface land), natural resources and human health and safety; (ii) the exposure to, or the use, storage, recycling, treatment, generation, transportation, processing, handling, labeling, presence, or the release or
threatened release of, Hazardous Materials; (iii) the collection, recovery and recycling of waste resulting from marketed products and their packaging; and (iv) the environmental design, energy efficiency requirements or chemical
composition of marketed products and their packaging. 
 “Environmental Liability” means any and all Losses relating to the
Company, its business, operations, assets, facilities, property (including, without limitation, real property and Leased Property) or marketed products, arising from or relating to: (i) failure to comply with any requirement of an Environmental
Law; (ii) failure to obtain, maintain in effect or comply with any required Environmental Permit; (iii) actual or alleged obligation to undertake environmental investigation, risk assessment, monitoring, remediation or restoration; or
(iv) harm or injury, actual or alleged, to any real property, to any Person, to public health, or to any natural resource as relating to Hazardous Materials. 
  

 51 

 “Environmental Permits” means all permits, licenses, certificates, approvals or
authorizations held by the Company or its operations pursuant to an Environmental Law. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended. 
 “Escrow Agent” means Manufacturers & Traders Trust Company,
in its capacity as escrow agent under the Escrow Agreement. 
 “Escrow Amount” means shares of Parent Common Stock, shares
of Parent Series D Preferred Stock and options to purchase shares of Parent Common Stock, representing in each case ten percent (10%) of the Share Consideration and Option Consideration otherwise payable to Company Shareholders and Option
Holders pursuant to Sections 2.1 and 2.9 and the Closing Consideration Certificate, calculated after any Net Working Capital reduction pursuant to Section 2.2. 
 “Fully Diluted Parent Stock” immediately following the Effective Time shall mean the aggregate number of shares of Parent Common Stock (i) outstanding immediately following the Effective Time,
and (ii) issuable upon the conversion of all outstanding shares of Parent Preferred Stock and the exercise of all outstanding options and warrants to purchase Parent Common Stock or Parent Preferred Stock (on an as-converted basis) immediately
following the Effective Time; provided, however, that Fully Diluted Parent Stock shall not include (x) any shares of Parent Common Stock or Parent Preferred Stock issuable upon the exercise of any warrant issued by Parent in connection
with the amendment to the Credit Agreement described in Section 4.6 of the Parent Disclosure Schedule, or (y) any shares of Parent Series E Preferred Stock issued, on or after the Closing Date, pursuant to Section 2.10 of this
Agreement or otherwise. 
 “Governmental Entity” means any nation, state, province, county, city or political subdivision
and any official, agency, arbitrator, authority, court, department, commission, board, bureau, instrumentality or other governmental or regulatory authority of any thereof, whether domestic or foreign. 
 “Hazardous Materials” means any and all materials (including without limitation substances, chemicals, compounds, mixtures, products or
byproducts, biologic agents, living or genetically modified materials, wastes, pollutants and contaminants) that are (i) listed, characterized or regulated pursuant to Environmental Law; (ii) identified or classified as
“hazardous,” “toxic,” “dangerous,” “pollutant,” “contaminant,” “explosive,” “corrosive,” “flammable,” “radioactive,” “reactive” or “special
waste”; (iii) capable of causing harm or injury to human health, natural resources or the environment; or (iv) oils, petroleum, petroleum products, wastes or byproducts, asbestos or asbestos containing materials, lead-based paint,
polychlorinated biphenyls, urea formaldehyde, explosives, bacteria or fungi. 
 “Indebtedness” of any Person means, without
duplication, (i) all indebtedness of such Person for borrowed money, with respect to deposits or advances of any kind or for the deferred purchase price of property or services (other than current trade liabilities incurred in the Ordinary
Course of Business and payable in accordance with customary practices and not more 

  

 52 

 
than 90 days past due), (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of
such Person upon which interest charges are customarily paid, (iv) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets purchased by such Person, (v) all Indebtedness of
others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been
assumed, (vi) all guarantees by such Person of Indebtedness of others, (vii) all capital lease obligations of such Person, (viii) all obligations of such Person in respect of interest rate protection agreements, foreign currency
exchange agreements, caps or collar agreements or other interest or exchange rate hedging arrangements either generally or under specific contingencies, (ix) all obligations of such Person as an account party in respect of letters of credit and
banker’s acceptances, (x) all obligations of such Person consisting of overdrafts (e.g., cash float reflected as a negative on the cash line) and (xi) all obligations of such Person pursuant to any deferred compensation agreements.

 “Indemnified Party” means either a Parent Indemnified Party or a Company Shareholder Indemnified Party. 
 “Indemnifying Party” means (i) with respect to a claim for indemnification pursuant to Section 8.1 or 8.4(a), Company
Shareholders, in accordance with the Escrow Agreement, and (ii) with respect to a claim for indemnification pursuant to Section 8.2, Parent. 
 “Intellectual Property of any Person means all intellectual property and related rights arising from or in respect of the following, whether protected, created or arising under any Law, including:
(i) all patents and applications therefor, including continuations, divisionals, continuations-in-part, or reissues of patent applications and patents issuing thereon (collectively, “Patents); (ii) all trademarks, service
marks, trade names, service names, brand names, trade dress rights, logos, Internet domain names and corporate names, together with the goodwill associated with any of the foregoing, and all applications, registrations and renewals thereof,
(collectively, “Marks”); (iii) all copyrights and registrations and applications therefor, works of authorship and mask work rights (collectively, “Copyrights”); (iv) all discoveries, research and
development, know-how, formulae, algorithms, inventions, compositions, manufacturing and production processes and techniques, technical data, procedures, methods, programs, subroutines, tools, materials, processes, inventions (whether patentable or
unpatentable and whether or not reduce to practice), apparatus, creations, improvements, works of authorship and other similar materials, all recordings, graphs, designs, drawings, reports, analyses, and other writings, specifications, databases and
other proprietary and confidential information, including customer lists, supplier lists, pricing and cost information, and business and marketing plans and proposals and other tangible embodiments of the foregoing, in any form whether or not
specifically listed herein, and all related technology; (v) all Software; and (vi) all similar or equivalent rights to any of the foregoing. 
 “IP Proceeding” means a Proceeding which (i) involves a claim against the Company or notice to the Company of infringement of, unauthorized use of, or misappropriation, dilution or violation of
or conflict with any Intellectual Property of any third party, or (ii) challenging the ownership, use, validity, priority, duration, scope, use, right to use, enforceability or effectiveness of any Intellectual Property owned by or licensed to
the Company, (including without limitation any interference, reissue, reexamination, opposition, concurrent use, cancellation, invalidity or other similar Proceeding). 
  

 53 

 “Knowledge and “knowledge”, with respect to the Company or Parent, means the
knowledge of the Company or Parent, as the case may be, would reasonably be expected to have after due inquiry of its executive officers and, with respect to the Company, Stephen Straus, Bob Weinschenk, Charlie Paulette, Gary Goldman and Steve
Madere. 
 “Law” means any constitution, act, statute, law (including common law), ordinance, treaty, rule or regulation of
any Governmental Entity. 
 “Liability” means any Indebtedness, liability, claim, demand, expense, commitment or obligation
of any kind or description (whether known or unknown, absolute, accrued, contingent, fixed or otherwise, or whether due or to become due). 
 “Losses” means any debts, obligations and other liabilities (whether known or unknown, absolute or contingent, liquidated or unliquidated, due or to become due, accrued or not accrued, asserted or unasserted or otherwise),
losses, claims, damages, Taxes, diminutions in value, interest obligations, deficiencies, judgments, assessments, fines, fees, penalties and expenses (including amounts paid in settlement, interest, court costs, fees and expenses of attorneys,
accountants, financial advisors, consultants, investigators and other experts and other expenses of litigation). 
 “Net Advertising
Revenue” means net amounts actually received by the Company or the Parent, made to bank accounts of the Company or the Parent, from advertising revenue from the sale to advertisers by the sales force of Barfly (based on a Barfly sales team
consistent with the Budget and Operating Plan) of space for advertising and promotions on Parent’s products including, without limitation, Barfly Screens, digital jukeboxes and PlayPorTTTM screens, during the Earn-Out Period, less sales
taxes and withholding or other similar taxes (but not income taxes), payment of third party commissions, agency fees, discounts, refunds or credits; provided, that only amounts received on or before sixty (60) days after the end of the Earn-Out
Period shall constitute Net Advertising Revenue; and provided, further, that no amounts received shall constitute Net Advertising Revenue if a claim against the Company is outstanding concerning such sale. Revenue recognition of advertising sales by
the Company, for purposes of determining Net Advertising Revenue, shall be in accordance with Parent’s revenue recognition policy and GAAP. 
 “Net Working Capital” means, with respect to a particular date, (i) the consolidated current assets of the Company as of such date, minus (ii) the consolidated current liabilities of the Company as of such date,
including payment of any Company Transaction Expenses, including any Company Transaction Expenses and fees incurred by the Company in connection with the Merger under Sections 5.3, 6.2 and 10.14 or otherwise. For purposes of calculating Net Working
Capital, any negative cash balance attributable to outstanding but uncleared checks shall be removed from the cash account and treated as accounts payable in the current liability section of the Closing Balance Sheet. 
  

 54 

 “Open Source Materials” means any software that is distributed or made generally
available as “open source” software or in source code or equivalent form under license terms that permit modifications or redistribution of such software. Open Source Materials includes, without limitation, software that is licensed under
the GNU General Public License, Apache License or BSD License. 
 “Option” means an option to purchase or acquire Company
Common Shares. 
 “Option Holder” means the holder of an Option. 
 “Order” means any writ, judgment, decree, injunction, settlement or similar order of or approved by any Governmental Entity (in each
such case whether preliminary or final). 
 “Ordinary Course of Business” means the ordinary course of business of the
Company in substantially the same manner as currently conducted and consistent with past practice and in compliance with applicable Law. 
 “Parent Material Adverse Effect” means any change, circumstance, development, state of facts, event or effect (i) that has had or could reasonably be expected to have a material adverse change or effect (taken alone or
in the aggregate with any other adverse change or effect) in or with respect to the business, assets, financial condition, results of operations or prospects of Parent or its Subsidiaries, taken as a single enterprise, or (ii) that could
reasonably be expected to prevent or materially impede, interfere with, hinder or delay the consummation of the Merger or the other transactions contemplated by this Agreement. 
 “Parent Stock Value” means, for the purposes of this Agreement and the Escrow Agreement, $1.234317 with respect to each share of Parent
Common Stock (including Parent Common Stock issuable upon exercise of the Roll-Over Options) and Parent Series D Preferred Stock as of the Closing Date. For the avoidance of doubt, for purposes of the Escrow Amount and Adjustment Amount, each such
share shall have the same value. 
 “Permitted Liens” means the following, to the extent not securing Indebtedness:
(i) statutory Liens for Taxes not yet due or payable; (ii) Liens for assessments and other governmental charges or Liens of landlords, carriers, warehousemen, mechanics and repairmen incurred in the Ordinary Course of Business, in each
case for sums not yet due and payable or due but not delinquent or being contested in good faith by appropriate proceedings; and (iii) Liens incurred in the Ordinary Course of Business in connection with workers’ compensation, unemployment
insurance and other types of social security. 
 “Person” means an individual, corporation, partnership, limited liability
company, joint venture, association, trust, unincorporated organization or other entity or any Governmental Entity. 
 “Pre-Closing
Tax Period” means any taxable period or portion thereof ending on or before the Closing Date. If a taxable period begins on or before the Closing Date and ends after the Closing Date, then the portion of the taxable period that ends on the
Closing Date shall constitute a Pre-Closing Tax Period. 
  

 55 

 “Proceeding” means any suit, action, mediation, arbitration, investigation or other
similar proceeding. 
 “Proprietary Information” means all discoveries, research and development, know-how, formulae,
algorithms, inventions, compositions, manufacturing and production processes and techniques, technical data, procedures, methods, programs, subroutines, tools, materials, processes, inventions (whether patentable or unpatentable and whether or not
reduce to practice), apparatus, creations, improvements, works of authorship and other similar materials, all recordings, graphs, designs, drawings, reports, analyses, and other writings, specifications, databases and other proprietary and
confidential information, including customer lists, supplier lists, pricing and cost information, and business and marketing plans and proposals and other tangible embodiments of the foregoing, in any form whether or not specifically listed herein,
and all related technology 
 “Real Estate Asset” means, at any time of determination, any interest (fee or leasehold) or
any right of ownership then owned by the Company in any real or immovable property. 
 “Representatives” means, with respect
to a Person, such Person’s legal, financial, internal and independent accounting and other advisors and representatives. 
 “Restricted Stock” means any Capital Stock of the Company that is subject to a right of repurchase or redemption by the Company, subject to forfeiture back to the Company or subject to transfer or lock-up restrictions
(other than standard six-month market stand-off or lock-up provisions in connection with an initial public offering of securities). 
 “Software” means any and all (i) computer programs, including any and all software implementations of algorithms, models and methodologies, whether in source code or object code, (ii) databases and compilations,
including any and all data and collections of data, whether machine readable or otherwise, (iii) descriptions, flow-charts and other work product used to design, plan, organize and develop any of the foregoing, screens, user interfaces, report
formats, firmware, development tools, templates, menus, buttons and icons, and (iv) documentation including user manuals and other training documentation related to any of the foregoing. 
 “Subsidiary” means, with respect to any Person, another Person (i) an amount of the voting securities, other voting ownership or
voting partnership interests, of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or
indirectly by such first Person or (ii) of which such first Person is a general partner. 
 “Tax” means: (i) any
United States federal, state, local and foreign income, profits, franchise, license, capital, transfer, ad valorem, wage, severance, occupation, import, custom, gross receipts, payroll, sales, employment, use, stamp, alternative or add-on
minimum, environmental, withholding and any other tax, duty, assessment or governmental tax charge of any kind whatsoever, imposed or required to be withheld by any taxing authority; (ii) any interest, additions to tax, or penalties applicable
or related thereto; and (iii) any amount described in clause (i) or (ii) for which a Person is liable as a successor or transferee, or by Contract, indemnity or otherwise. 
  

 56 

 “Tax Return” means any return, declaration, report, claim for refund, or information
return or statement or other form relating to Taxes filed or required to be filed with a Governmental Entity, including any schedule or attachment thereto, and including any amendment thereof. 
 “Third Party Claim means any Proceeding, claim or demand by a Person other than a Person from which indemnification may be sought under
Article 8. 
 “Transaction Agreements” means, collectively, this Agreement and the Escrow Agreement. 
 Section 10.3. Descriptive Headings; Certain Interpretations. The table of contents and headings contained in this Agreement are for reference
purposes only and shall not control or affect the meaning or construction of this Agreement. Except where expressly stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement: (i) “or” is not
exclusive and “include”, “includes” and “including” are not limiting; (ii) “hereof”, “hereto”, “hereby”, “herein” and “hereunder” and words of similar import when
used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement; (iii) “date hereof” refers to the date of this Agreement; (iv) “extent” in the phrase “to the
extent” means the degree to which a subject or other thing extends, and such phrase does not mean simply “if”; (v) definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms;
(vi) references to an agreement or instrument mean such agreement or instrument as from time to time amended, modified or supplemented; (vii) references to a Person are also to its permitted successors and assigns; (viii) references
to an “Article”, “Section”, “Subsection”, “Exhibit” or “Schedule” refer to an Article of, a Section or Subsection of, or an Exhibit or Schedule to, this Agreement; (ix) words importing the
masculine gender include the feminine or neuter and, in each case, vice versa; and (x) references to a Law include any amendment or modification to such Law and any rules or regulations issued thereunder, whether such amendment or modification
is made, or issuance of such rules or regulations occurs, before or after the date of this Agreement. 
 Section 10.4. Company
Shareholders’ Representative. 
 (a) The Company designates James C. Weaver as the representative of the Company Shareholders and
Option Holders and any other person who is or becomes, through the Effective Time, a holder of Capital Stock of the Company or an Option (such person, the “Company Shareholders’ Representative”). The Company Shareholders’
Representative hereby accepts the appointment as Company Shareholders’ Representative, all in accordance with the terms of this Agreement. The Company Shareholders’ Representative shall have authority to take any and all actions expressly
permitted or required to be taken by the Company Shareholders’ Representative hereunder and which he believes are necessary or appropriate under this Agreement, including, without limitation, giving and receiving any notice or instruction
expressly permitted or required under this Agreement by the Company Shareholders’ Representative, authorizing payments to be made with respect hereto, defending all claims pursuant to Article 8 of this Agreement, consenting to, compromising or
settling all claims, 

  

 57 

 
conducting negotiations with Parent and its agents regarding such claims, taking any and all other actions specified in or contemplated by this Agreement.
From and after the Effective Time, the Company Shareholders’ Representative shall serve as the sole representative of such Persons with respect to this Agreement, the Escrow Agreement and the transactions contemplated hereby and thereby.

 (b) The Company Shareholders’ Representative shall serve in such capacity without compensation except for the reimbursement from such
Persons of out-of-pocket expenses. Notwithstanding anything to the contrary contained in this Agreement, Company Shareholders’ Representative shall have no duties or responsibilities except those expressly set forth herein, and no implied
covenants, functions, responsibilities, duties, Liabilities on behalf of any Company Shareholder or Option Holder shall otherwise exist against Company Shareholders’ Representative. Following Parent’s payment to the Company
Shareholders’ Representative of any amount pursuant to this Agreement or the Escrow Agreement, neither Parent nor the Company (or Surviving Corporation) shall have any liability to any Company Shareholder or Option Holder for any such amount,
including for the Company Shareholders’ Representative’s failure to distribute such amount to Company Shareholders or Option Holders in accordance with their individual arrangements with the Company Shareholders’ Representative, and
each Company Shareholder’s and Option Holder’s sole remedy shall be against the Company Shareholders’ Representative and not against Parent or the Company (or Surviving Corporation). 
 (c) The Company Shareholders’ Representative may resign at any time by giving written notice to the Company and Parent. The holders of a majority of
the Company Common Stock and the Company Preferred Stock shall then have the right at any time during the term to appoint a successor Company Shareholders’ Representative; provided, however, that neither such resignation of the
then-acting Company Shareholders’ Representative nor such appointment of a successor Company Shareholders’ Representative shall be effective until the delivery to Parent of executed counterparts of a writing signed by the requisite Company
Shareholders with respect to such removal and appointment, together with an acknowledgment signed by the successor Company Shareholders’ Representative appointed in such writing that he, she or it accepts the responsibility of successor Company
Shareholders’ Representative and agrees to perform and be bound by all of the provisions of this Agreement applicable to the Company Shareholders’ Representative. 
 Section 10.5. Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in
part, by operation of Law or otherwise by any of the Parties without the prior written consent of the other Parties, except that Merger Sub may assign, in its sole discretion, any of or all its rights, interests and obligations under this Agreement
to Parent or to any Subsidiary of Parent, but no such assignment shall relieve Merger Sub of any of its obligations hereunder. Any purported assignment without such consent shall be void. Notwithstanding the foregoing, Merger Sub, the Company and
the Company Shareholders’ Representative hereby consent to the collateral assignment of Parent’s rights and obligations under this Agreement to Goldman Sachs Specialty Lending Group, L.P. as agent of certain lenders under a credit facility
between and among Parent, the Borrowers named therein and such lenders (the “Credit Facility”) as security for obligations of the Credit Facility. Subject to the preceding sentences, this Agreement shall be binding upon, inure to
the benefit of and be enforceable by, the parties hereto and their respective successors and assigns. 
  

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 Section 10.6. Specific Enforcement. The Parties agree that irreparable damage would occur in
the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled at Law, in equity or otherwise. 
 Section 10.7. Waiver and Amendment. 
 (a) At any time prior to the Effective Time, the Parties may (a) extend the time for the performance of any of the obligations or other acts of the other Parties, (b) waive any inaccuracies in the representations and warranties
contained in this Agreement or in any document delivered pursuant to this Agreement or (c) subject to the proviso of Section 10.7(b), waive compliance with any of the agreements or conditions contained in this Agreement. No failure or
delay on the part of any Party in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to any Party at Law, in equity or otherwise. 
 (b) Except as otherwise specifically set forth in this Agreement, this Agreement may be amended by the Parties at any time; provided,
however, that there shall be made no amendment that by Law requires approval by Company Shareholders, without the further approval of such shareholders. 
 (c) Except as otherwise specifically set forth in this Agreement, any amendment, supplement or modification of or to any provision of this Agreement and any waiver of any provision of this Agreement shall be effective
(i) only if it is made or given in writing and signed by Parent and the Company or, in the case of a waiver, by the party granting the waiver and (ii) only in the specific instance and for the specific purpose for which made or given.

 Section 10.8. Entire Agreement. The Transaction Agreements and the Nondisclosure Agreement contain the entire agreement and
understanding between the Parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both written and oral, with respect to the transactions contemplated thereby. The Nondisclosure Agreement
shall survive any termination of this Agreement. 
 Section 10.9. No Third-Party Beneficiaries. This Agreement is for the sole
benefit of the Parties and their permitted successors and assigns and nothing herein express or implied shall give or be construed to give to any Person, other than the Parties and such successors and assigns, any legal or equitable rights or
remedies. 
 Section 10.10. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties. 
 Section 10.11. Governing Law; Jurisdiction; Venue; Service Of Process; Waiver of Jury Trial. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York,
regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof (other than Sections 5-1401 and 5-1402 of the New York 

  

 59 

 
General Obligations Law, or their successors). In the event of any dispute arising out of or relating to this Agreement, then, subject to Sections 2.3(d) and
2.4, such dispute shall be resolved solely and exclusively by confidential binding arbitration with the New York City branch of JAMS to be governed by JAMS’ Commercial Rules of Arbitration applicable at the time of the commencement of the
arbitration (the “JAMS Rules”) and heard before one arbitrator. The parties shall attempt to mutually select the arbitrator. In the event they are unable to mutually agree, the arbitrator shall be selected by the procedures
prescribed by the JAMS Rules. Each Party shall bear its own attorneys’ fees, expert witness fees, and costs incurred in connection with any arbitration. Each Party irrevocably and unconditionally waives any right to trial by jury with respect
to any Proceeding relating to or arising out of this Agreement or any other Transaction Agreement or any of the transactions contemplated hereby or thereby, and agree to the arbitration provision in this Section 10.11. 
 Section 10.12. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule
or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner
materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of
the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 
 Section 10.13. Currency. All references to “dollars” or “$” shall refer to the lawful currency of the United States and all calculations of amounts herein shall be determined in dollars unless otherwise
provided herein. 
 Section 10.14. Transaction Costs. Each party shall pay all costs and expenses that it incurs with respect to
the negotiation, execution, delivery and performance of this Agreement and the transactions contemplated hereby. 
  

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 IN WITNESS WHEREOF, the Parties have duly
executed this Agreement as of the date first written above. 
  

			
	TOUCHTUNES HOLDING CORPORATION
		
	By:	 	  

	Name:	 	Philip Livingston
	Title:	 	Secretary and Treasurer
	
	NBM MERGER SUB., INC., a Texas corporation and a wholly-owned subsidiary of TouchTunes Music Corporation
		
	By:	 	  

	Name:	 	Philip Livingston
	Title:	 	Secretary and Treasurer
	
	NATIONAL BROADCAST MEDIA CORP., a Texas corporation
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JAMES C. (RAD) WEAVER, AS COMPANY SHAREHOLDERS’
REPRESENTATIVE
		
	By:	 	  

	Name:	 	
	Title:	 	

 Signature page to Merger Agreement 

 EXHIBIT A 
 ESCROW AGREEMENT 
 ESCROW AGREEMENT, dated as of September
        , 2008 (this “Agreement”), by and among TouchTunes Corporation, a company organized under the laws of the State of Delaware (“Parent”), James C. (Rad) Weaver (the
“Company Shareholders’ Representative”) and Manufacturers and Traders Trust Company, a banking corporation, organized under the laws of New York (the “Escrow Agent”). 
 Recitals 
 Parent, NBM Merger Sub,
Inc., a Texas corporation (“Merger Sub”), National Broadcast Media Corp., a Texas corporation, d/b/a Barfly Interactive Networks (the “Company”), and the Company Shareholders’ Representative have entered into
an Agreement and Plan of Merger dated as of August 26, 2008 (as it may be amended and in effect from time to time, the “Merger Agreement”), pursuant to which Merger Sub will be merged with and into the Company (the
“Merger”) and the Company shall continue as the surviving corporation. Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings assigned to such terms in the Merger Agreement. 
 The Merger Agreement requires, as a condition to the consummation of the transactions contemplated thereby, that Parent, the Company Shareholders’
Representative and the Escrow Agent enter into this Agreement. Pursuant to the Merger Agreement, Parent will deposit [            ] shares of Parent Common Stock and
[            ] shares of Parent Series D Preferred Stock (the “Escrow Shares”) into the Account (as defined below) after the Effective Time, which date once known will be
communicated in writing to the Escrow Agent by Parent. 
 Escrow Agent is willing to serve as agent for Parent and the Company
Shareholders’ Representative on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and for
other good and valuable consideration the receipt and sufficiency of which are the hereby acknowledged, the parties hereto agree as follows: 
 1. Interpretation. The descriptive headings of the several Sections and subsections of the Agreement are inserted for convenience only and shall not be a part of the Agreement for purposes of interpretation or otherwise. Section and
subsection references contained herein are references to Sections and subsections of this Agreement unless otherwise specified. Terms such as “herein,” “hereunder” and “hereof” refer to this Agreement as a whole and not
to any specific section or subsection. With respect to all terms in this Agreement, the singular includes the plural and the plural the singular, and words importing any gender include the other genders. Escrow Agent, Parent and the Company
Shareholders’ Representative may be referred to herein as a “Party” or the “Parties.” 
 2. Appointment; The
Account. 
 (a) Appointment of Escrow Agent. Parent and the Company Shareholders’ Representative hereby appoint Escrow Agent
as their agent, to maintain the Account (as defined 

 
below), to receive, hold and disburse the Escrow Funds (as defined below) and to perform the other duties expressly set forth herein, and Escrow Agent hereby
accepts such appointment on the terms and conditions set forth in this Agreement. Escrow Agent shall account for the Escrow Funds separately from its funds and property and the funds and property of other customers. Escrow Agent shall have the sole
power of withdrawal from the Account. The Escrow Funds shall be held as a trust fund and shall not be subject to any lien, attachment or trustee process or any other judicial process by any creditor of the Company Shareholders’ Representative
or any Party to this Agreement and shall be used solely for the purpose set forth in this Agreement. 
 (b) Escrow Account. On or
prior to the date of this Agreement, Escrow Agent has established on its books a segregated account entitled “TouchTunes Corporation Escrow Account” (the “Account”). Within 30 days after the date of this Agreement,
Parent shall deliver to Escrow Agent for credit to the Account stock certificates, in the name of Manufacturers and Traders Trust Company, in its capacity as Escrow Agent, representing the Escrow Shares listed on Schedule A, duly endorsed in blank
to the Escrow Agent (together with all property on deposit in, or to the credit of, the Account from time to time during the term of this Agreement, the “Escrow Funds”). The Account shall bear the taxpayer identification number of
Parent, and any earnings, dividends or interest credited to the Account will be reported to such Party and added to the Escrow Funds. 
 (c)
Escrow Share Value. For all purposes under this Agreement, including the determination of the number of Escrow Shares, if any, to be released to the Parent by the Escrow Agent under Section 3 of this Agreement, each Escrow Share shall be
valued at $1.234317 per share (the “Parent Stock Value”), regardless of whether the Escrow Share consists of a share of Parent Series D Preferred Stock or a share of Parent Common Stock. 
 3. Claims Against the Escrow Funds. 
 (a) Procedure For Claims Against Base Escrow Funds. An Indemnified Party may make a claim for indemnification against the Escrow Funds under Section 8.1 of the Merger Agreement (such claims being referred to as the
“Claims”) on or prior to 5:00 p.m. Eastern Standard Time on the first anniversary of the Effective Time (the “Escrow Release Date”). 
 (b) Indemnification Certificates of Instruction. With respect to a Claim, Parent may at any time on or prior to the Escrow Release Date deliver to the Escrow Agent (with a copy to the Company Shareholders’
Representative) one or more certificates in substantially the form of Annex I (an “Indemnification Certificate of Instruction”) with respect to such claim (attaching thereto a copy of a notice from Parent to the Company
Shareholders’ Representative that serves to identify for the Company Shareholders’ Representative the indemnity claim covered by such Indemnification Certificate of Instruction). The Escrow Agent shall give written notice to the Company
Shareholders’ Representative of its receipt of an Indemnification Certificate of Instruction within two (2) Business Days of its receipt thereof. 
 (c) Objection Period. The Company Shareholders’ Representative shall have twenty (20) Business Days following the Escrow Agent’s delivery of an Indemnification Certificate of Instruction to the
Company Shareholders’ Representative (the “Objection Period”) 

  

 2 

 
to deliver a certificate in substantially the form of Annex II (an “Objection Certificate”) (a copy of which shall be delivered to Parent)
disputing the Indemnified Parties’ right to be indemnified with respect to the indemnified matter referred to, or disputing the amount (the “Owed Amount”) in respect thereof claimed by the Indemnified Parties to be owed to them
in respect thereof pursuant to the Merger Agreement, in such Indemnification Certificate of Instruction. Within ten (10) days after the Company Shareholders’ Representative’s delivery of the Objection Certificate during the Objection
Period, Parent shall deliver a notice to the Escrow Agent stating that Parent (i) shall attempt to resolve the dispute with Company Shareholders’ Representative within sixty (60) days from the date of such notice, or (ii) has
released all claims set forth in the Indemnification Certificate of Instruction. If Parent attempts to resolve the dispute and has not successfully done so within sixty (60) days of its notice to the Escrow Agent, Parent shall notify the Escrow
Agent that the disputed matter has proceeded to litigation. 
 (d) Delivery of Owed Amount. If the Escrow Agent (i) shall not
have received from the Company Shareholders’ Representative an Objection Certificate within the Objection Period, or (ii) shall have received such an Objection Certificate within the Objection Period and shall thereafter have received
either (A) a certificate from Parent and the Company Shareholders’ Representative substantially in the form of Annex III (a “Resolution Certificate”) stating that Parent and the Company Shareholders’ Representative
have agreed that the Owed Amount referred to in such Indemnification Certificate of Instruction (or a specified portion of the Owed Amount) is deliverable to one or more of the Indemnified Parties or (B) a copy of a final, nonappealable order
of a court of competent jurisdiction (accompanied by a certificate of Parent substantially in the form of Annex IV (a “Litigation Certificate”)) (a copy of which shall also be provided to the Company Shareholders’
Representative) stating that the Owed Amount referred to in such Indemnification Certificate of Instruction (or a specified portion of the Owed Amount) is payable to one or more of the Indemnified Parties, then the Escrow Agent shall, on or prior to
the second Business Day next following, as applicable, (x) the expiration of the Objection Period or (y) the Escrow Agent’s receipt of a Resolution Certificate or a Litigation Certificate, as the case may be, instruct the
Company’s transfer agent to cancel existing stock certificates in the Escrow Funds and issue new stock certificates to the Company Shareholders’ Representative, as the Company Shareholders’ Representative, with the number of shares
issued to the Company Shareholders’ Representative reduced by the Owed Amount as set forth on the Indemnification Certificate of Instruction (or as otherwise directed in such Resolution Certificate or Litigation Certificate) based on the Parent
Stock Value; provided that if such Resolution Certificate or Litigation Certificate specifies that a lesser amount than such Owed Amount is payable to Parent, the number of shares issued to the Company Shareholders’ Representative, as
Company Shareholders’ Representative shall be reduced by such lesser amount. 
 (e) Notification of Dispute. The Escrow Agent
shall give written notice to Parent of its receipt of an Objection Certificate within two (2) Business Days of its receipt thereof, together with a copy of such Objection Certificate. The Escrow Agent shall give written notice to the Company
Shareholders’ Representative of its receipt of a Litigation Certificate within two (2) Business Days of its receipt thereof, together with a copy of such Litigation Certificate. 
  

 3 

 (f) Cancellation by Delivery of Escrow Shares. Upon the delivery by the Escrow Agent of the Owed
Amount referred to in an Indemnification Certificate of Instruction by means of delivery of Escrow Shares or other Escrow Funds, such Indemnification Certificate of Instruction shall be deemed cancelled. Upon the receipt by the Escrow Agent of a
Resolution Certificate or a Litigation Certificate and the payment by the Escrow Agent of the Owed Amount referred to in either such certificate, the related Indemnification Certificate of Instruction shall be deemed cancelled. 
 (g) Cancellation by Parent. Upon Parent’s determination that it then has no claim or it has released its claim with respect to an Owed Amount
referred to in an Indemnification Certificate of Instruction (or a specified portion of the Owed Amount), Parent will deliver to the Escrow Agent a certificate substantially in the form of Annex V (a “Parent Cancellation
Certificate”) canceling such Indemnification Certificate of Instruction (or such specified portion of the Owed Amount), and such Indemnification Certificate of Instruction (or portion thereof) shall thereupon be deemed cancelled. The Escrow
Agent shall give written notice to the Company Shareholders’ Representative of its receipt of a Parent Cancellation Certificate within two (2) Business Days of its receipt thereof, together with a copy of such Parent Cancellation
Certificate. 
 (h) Cancellation by the Company Shareholders’ Representative. Upon receipt of a final, nonappealable order of a
court of competent jurisdiction to the effect that a Indemnified Party is not entitled to be indemnified for any (or a specified portion) of the Owed Amount referred to in an Indemnification Certificate of Instruction as to which the Company
Shareholders’ Representative delivered an Objection Certificate within the Objection Period, the Company Shareholders’ Representative may, provided no Resolution Certificate or Litigation Certificate with respect to such matter shall have
previously been received by the Escrow Agent, deliver a copy of such final, nonappealable court order (accompanied by a certificate of the Company Shareholders’ Representative substantially in the form of Annex VI (a “Company
Shareholders’ Representative Cancellation Certificate”)) canceling such Indemnification Certificate of Instruction (or such specified portion of the Owed Amount) with respect to such Indemnified Party, and such Indemnification
Certificate of Instruction (or portion thereof) shall thereupon be deemed cancelled. The Escrow Agent shall give written notice to Parent of its receipt of a Company Shareholders’ Representative Cancellation Certificate within two
(2) Business Days of its receipt thereof, together with a copy of such Company Shareholders’ Representative Cancellation Certificate. 
 (i) Parent as Agent for Parent Indemnified Parties. Only Parent may make a claim against the Escrow Funds, either for itself or on behalf of any other Parent Indemnified Party. In the event that Parent makes a claim against the
Escrow Funds on behalf of any other Parent Indemnified Party, any amounts received by Parent on behalf of such other Parent Indemnified Party shall be turned over to such other Parent Indemnified Party promptly upon receipt by Parent. 
  

 4 

 4. Release of Escrow Funds. 
 (a) Release of Escrow Funds. On the next Business Day following the Escrow Release Date, the amount (if any) equal to (A) all amounts that
remain in the Account as of such date minus (B) the Outstanding Claims Reserve (as defined below) as of such date shall be released from the Account by the Escrow Agent as provided in Section 4(a). “Outstanding Claims
Reserve” means, as of any date, the sum of all of the Owed Amounts referred to in any Indemnification Certificates of Instruction, Resolution Certificates and Litigation Certificates received by the Escrow Agent (on or before the Escrow
Release Date in the case of Indemnification Certificates of Instruction) that have not been cancelled as of such date in accordance with Section 3(e), (f) or (g), without duplication. 
 (b) Delivery of Escrow Funds. The Escrow Agent shall deliver all of the property and funds to be released pursuant to Section 4(a) to the
Company Shareholders’ Representative, to be distributed to the Company Shareholders in the respective proportions set forth on Schedule B to this Agreement. 
 5. Judgments, Call-Back Procedures, Monthly Statements. 
 (a) Judgments. 
 (i) In the event that Escrow Agent makes any payment to any other Party pursuant to this Agreement and for any reason such payment (or any portion
thereof) is required to be returned to the Account or another Party or is subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a receiver, trustee or other Party under any bankruptcy or
insolvency law, other federal or state law, common law or equitable doctrine, then the recipient shall repay to Bank upon written request the amount so paid to it. 
 (ii) Escrow Agent shall, in its sole discretion, comply with judgments or orders issued or process entered by any court with respect to the Escrow Funds, including without limitation any attachment, levy or
garnishment, without any obligation to determine such court’s jurisdiction in the matter and in accordance with its normal business practices. If Escrow Agent complies with any such judgment, order or process, then it shall not be liable to any
Party or any other person by reason of such compliance, regardless of the final disposition of any such judgment, order or process. 
 (b)
Call-Back Procedures. In the event that a Party gives property and funds transfer instructions (other than in writing at the time of execution of the Agreement), whether in writing, by telecopier or otherwise, Escrow Agent shall seek
confirmation of such instructions by telephone call-back to the authorized person or persons of such Party listed on Schedule C attached hereto, and Escrow Agent may rely upon the confirmations of anyone purporting to be the person or persons so
designated. The persons and telephone numbers for call-backs may be changed only in a writing actually received and acknowledged by Escrow Agent. The Parties agree that such security procedure is commercially reasonable. 
 (c) Monthly Statements. Escrow Agent will furnish monthly statements to Parent and the Company Shareholders’ Representative setting forth the
activity in the Account. 
  

 5 

 6. Fees and Expenses. Except as expressly provided herein, each of Parent and the Company
Shareholders’ Representative shall bear its own expenses in connection with this Agreement and the transactions contemplated hereby. Parent shall be responsible for, and shall pay to Escrow Agent on demand, its fees in connection with the
services rendered by Escrow Agent hereunder, which shall be as set forth on Schedule D. In addition, Parent will reimburse Escrow Agent for all reasonable other out-of-pocket expenses (including without limitation, overnight delivery charges, and
reasonable attorneys’ fees (which may include the allocated cost of internal counsel to Escrow Agent)) paid or incurred by it in the performance of its duties under this Agreement. 
 7. Duties; Liabilities and Indemnification. 
 (a) Escrow Agent shall have only those duties and responsibilities as expressly set forth herein, and no other duty, obligation or covenant shall be implied or enforceable against Escrow Agent by any person. 
 (b) Without limiting the effect of Section 7(a) hereof, Escrow Agent shall have no obligation or liability to either Parent or the Company
Shareholders’ Representative (or any person claiming through any of them): (i) to review, examine, enforce, administer or take notice of any agreement, instrument or document other than this Agreement; (ii) to determine whether any
conditions precedent to a disbursement of Escrow Funds, other than as set forth in Section 3, Section 4 or Section 7, have been or will be satisfied or otherwise to investigate any notice received by Escrow Agent hereunder;
(iii) to evaluate or determine the validity or legality of any action or omission by any other person; (iv) to make any payment to Parent or the Company Shareholders’ Representative from any source other than the Account; (v) to
communicate with any person other than as expressly provided for in this Agreement; (vi) for any action or omission of Escrow Agent taken or made upon the written, joint instructions of Parent and the Company Shareholders’ Representative;
(vii) for any action or omission of any third party, including Parent, the Company Shareholders’ Representative or any federal or state bank regulator; (viii) for any other action or omission of, or for errors in judgment by, Escrow
Agent under or in connection with this Agreement taken or made in good faith and without gross negligence or willful misconduct; and (ix) for incidental, consequential, indirect or punitive damages in any event. 
 (c) Escrow Agent may execute any of its powers and perform any of its duties hereunder by or through attorneys, agents, receivers or employees. Escrow
Agent is entitled to advice of counsel concerning all matters hereunder, and may act on the opinion or advice of counsel, accountants, engineers or surveyors. Escrow Agent is not responsible for any loss or damage resulting from any action or
non-action taken or made in good faith in reliance on any such opinion or advice. 
 (d) Escrow Agent shall be entitled to rely upon any
order, judgment, certification, demand, notice, instrument or other writing delivered to it hereunder without being required to determine the authenticity or the correctness of any fact stated therein or the propriety or validity of the service
thereof. Escrow Agent may act in reliance upon any instrument or signature believed by it to be genuine and may assume that the person listed on the incumbency certificate provided by each Party in accordance with the terms hereof, who purports to
give receipt or advice or make any statement or execute any document in connection with the provisions hereof has been duly authorized to do so. 
  

 6 

 (e) Parent and the Company Shareholders’ Representative will, jointly and severally, indemnify and
hold Escrow Agent and each of its officers, directors, employees and affiliates (the “Escrow Indemnified Parties”) harmless from and against any and all claims, suits, liabilities, costs, damages and expenses (including reasonable
attorneys’ fees and expenses) suffered or incurred by an Escrow Indemnified Party and arising out of or relating to this Agreement, except any such claims, suits, liabilities, cost, damages or expenses suffered or incurred by an Escrow
Indemnified Party as a direct result of the Escrow Indemnified Party’s own gross negligence or willful misconduct in the discharge of its obligations under this Contract. 
 8. Rights of Stockholders in Escrow Funds. 
 (a) Voting Rights. Unless and until any Escrow Share is cancelled and returned to Parent pursuant to Section 3 of this Agreement, the stockholder of record of such share shall retain all rights of holders of such shares,
including the right to vote such shares. 
 (b) Dividends and Other Distributions in Respect of the Escrow Shares. Until the release
of any Escrow Shares pursuant to Section 4, all dividends payable in cash with respect to such Escrow Shares shall be paid to each stockholder of record and delivered to the Escrow Agent to be held in the Account, and deemed part of the Escrow
Funds. All dividends payable in stock or other non-cash property (“Non-cash Dividends”) shall be delivered to the Escrow Agent to by held in the Account and are deemed part of the Escrow Funds, held in accordance with the terms
hereof. As used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon, if any. 
 (c) Restrictions on Transfer. Until the release of any Escrow Shares pursuant to Section 4, no sale, transfer or other disposition may be made of any Escrow Share. 
 9. Term; Termination. 
 (a)
Term. This Agreement shall terminate on the first to occur of: (i) the Escrow Release Date, (ii) the date as of which all Escrow Funds in the Account (including the Outstanding Reserve Claims) have been disbursed in accordance with
this Agreement; and (iii) the date that is five (5) business days after the date on which Parent and the Company Shareholders’ Representative give joint written notice to Escrow Agent that this Agreement shall terminate; provided,
that if there are Owed Amounts in dispute pursuant to one or more Indemnification Certificates of Instruction that have not been resolved by the Parties, then this Agreement shall survive until such dispute(s) have been resolved and the Escrow
Funds have been released pursuant to such resolution. 
 (b) Resignation and Removal. The Escrow Agent may resign as such thirty
(30) days after notifying Parent and the Company Shareholders’ Representative in writing of its intent to resign. In addition, the Escrow Agent may be removed and replaced on a date designated in a written instrument signed by Parent and
the Company Shareholders’ 

  

 7 

 
Representative and delivered to the Escrow Agent. Notwithstanding the foregoing, no such resignation or removal shall be effective until a successor escrow
agent has acknowledged its appointment as such as provided in Section 9(d). In either event, upon the effective date of such resignation or removal, and upon payment of all amounts owed to the Escrow Agent hereunder, the Escrow Agent shall
deliver the property comprising the Escrow Funds to the successor jointly designated by Parent and the Company Shareholders’ Representative or designated by a court of competent jurisdiction as provided in Section 9(c), as applicable,
together with such records maintained by the Escrow Agent in connection with its duties under this Agreement and other information with respect to the Escrow Funds as such successor may reasonably request. Any corporation or association into which
the Escrow Agent may be merged or converted or with which it may be consolidated, or any corporation or association to which all or substantially all the escrow business of the Escrow Agent’s corporate trust line of business may be transferred,
shall be the Escrow Agent under this Agreement without further act. 
 (c) Selection of Successor by Escrow Agent. If a successor
escrow agent shall not have acknowledged its appointment as such as provided in Section 9(d), in the case of a resignation, prior to the expiration of thirty (30) days following the date of a notice of resignation or, in the case of a
removal, on the date designated for the Escrow Agent’s removal, as the case may be, because Parent and the Company Shareholders’ Representative are unable to agree on a successor escrow agent, or for any other reason, the Escrow Agent may
petition, at the expense of Parent and Company Shareholders’ Representative, a court of competent jurisdiction for appointment of a successor escrow agent and any such resulting appointment shall be binding upon Parent, the Company
Shareholders’ Representative, the Company Shareholders and the Option Holders; provided, however, that any such successor escrow agent shall be in the business of providing escrow services as contemplated hereunder. 
 (d) Release of Withdrawing Escrow Agent. Upon written acknowledgment by a successor escrow agent appointed in accordance with the foregoing
provisions of this Section 9 of its agreement to serve as escrow agent under this Agreement and the receipt of the property then comprising the Escrow Funds, the Escrow Agent shall be fully released and relieved of all duties, responsibilities
and obligations under this Agreement (except to the extent the withdrawing Escrow Agent’s actions or omissions to act with respect to such duties, responsibilities and obligations constituted gross negligence or willful misconduct) and the
successor escrow agent shall for all purposes of this Agreement be the Escrow Agent. Any Escrow Agent acting under this Agreement shall each be entitled to rely on the survival of Section 7(e) following the withdrawal and replacement of such
Escrow Agent. 
 (e) Survival. The provisions of Sections 7(e), 9, 11, 12 and 13 shall survive any termination of this Agreement.

 10. Representations, Warranties and Covenants. 
 (a) Each Party represents and warrants to, and covenants with, the other parties as follows: 
 (i) If such
Party is not a natural person, such Party is a legal entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and has the power and authority to enter into this Agreement and to perform its
obligations and consummate the transactions contemplated hereby. 
  

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 (ii) The execution, delivery and performance of this Agreement and the transactions contemplated hereby
by such Party have been duly and validly authorized by all necessary action on the part of such Party, and this Agreement has been duly and validly executed and delivered by such Party. 
 (iii) This Agreement constitutes the valid and binding agreement of such Party, enforceable against such Party in accordance with its terms. 

(iv) There is no proceeding pending or, to the best of such Party’s knowledge, threatened that would call into question the validity or
enforceability of this Agreement against such Party or would adversely affect such Party’s ability to consummate this Agreement and the transactions contemplated hereby. 
 (b) Contemporaneously with the execution and delivery of this Agreement, each of Parent and the Company Shareholders’ Representative shall deliver
an incumbency certificate, substantially in the form attached hereto as Schedule C, as to the officers authorized to act on its behalf under this Agreement. Each of Parent and the Company Shareholders’ Representative shall send to the Escrow
Agent, from time to time, a new incumbency certificate to replace any previously delivered incumbency certificate, and which shall reflect any changes in such authorized officers. The Escrow Agent agrees to use such new incumbency certificate for
call-back information and to determine the validity of signatures of each Party. 
 11. Disputes. In the event of any dispute with
respect to the Account or the Escrow Funds, the interpretation of this Agreement or the rights and obligations of the parties hereunder, or to the propriety of any action contemplated by Escrow Agent hereunder, or if Escrow Agent in good faith is in
doubt as to what action should be taken hereunder, then in any such case Escrow Agent shall not be obligated to resolve the dispute or disagreement or to make any disbursement of all or any portion of the Escrow Funds, but may commence an action in
the nature of an interpleader and seek to deposit such property and funds with a court of competent jurisdiction, and thereby shall be discharged from any further duty or obligation with respect to the Account and any Escrow Funds. Escrow Agent may,
in its sole discretion in lieu of filing such action in interpleader, elect to cease to perform under this Agreement and to ignore all instructions received in connection herewith until Escrow Agent has received a written notice of resolution signed
by the parties to such dispute or disagreement or a final and non-appealable order of a court with jurisdiction over the matter directing a disposition of the Escrow Funds. 
 12. Notices. All communications and notices permitted or required under this Agreement shall be in writing and shall be sent: (i) by hand
delivery; (ii) by commercial overnight courier; (iii) by certified mail, postage prepaid, return receipt requested; or (iv) by facsimile transmission, to a Party using the following information, or such other information as a Party
has given to the other Parties in the manner specified in this Section 12: 
  

					
	If to Parent:	 		  	TouchTunes Corporation
		 		  	740 Broadway, Suite 1102
		 		  	New York, New York 10003
		 		  	Attn: Philip Livingston
		 		  	Fax: (646) 365-0011

  

 9 

					
	If to the Company Shareholders’ Representative:
			
		 		  	McCombs Family Partners, Ltd.
		 		  	755 E. Mulberry Avenue, Suite 600
		 		  	San Antonio, TX 78212
		 		  	Attn: James C. (Rad) Weaver
		 		  	Fax: (210) 731-4740
	
	If to Escrow Agent:
			
		 		  	M&T Bank
		 		  	One M&T Plaza
		 		  	Buffalo, NY 14203
		 		  	Attn: Joan Stapley, 7th Floor CT
		 		  	Fax: (716) 842-4474

 A notice hereunder shall be deemed given: (a) upon receipt, in the case of hand delivery;
(b) one day after delivery to the courier, in the case of commercial overnight courier; (c) five (5) calendar days after deposit in the U.S. mail, in the case of certified mail, regardless of the date of actual delivery or whether
delivery is ever in fact made; or (d) when completely sent and received, as evidenced by a transmission or activity report of the sender’s facsimile machine, in the case of facsimile transmission. If a notice under this Agreement is
refused by the addressee thereof, then the notice shall be deemed to have been given and effective as of the date provided in this Section 12. 
 13. Other Agreements. This Agreement and the rights and obligations of each Party hereunder shall be governed by, and construed in accordance with, the laws of the State of New York. Each Party irrevocably and unconditionally waives
any right to trial by jury with respect to any claim, counterclaim, or other proceeding relating to or arising out of this Agreement or any of the transactions contemplated hereby. This Agreement (including the above recitals which are a substantive
part hereof) and the schedules and exhibits hereto along with the Merger Agreement constitute the complete and exclusive expression of the terms of the agreement between the parties, and supersede all prior or contemporaneous oral or written
agreements, arrangements and understandings among the parties with respect to the subject matter of this Agreement. No amendment to this Agreement shall be effective unless it is in writing and signed by duly authorized representatives of each of
the parties hereto. A purported waiver of any right or condition set forth herein shall not be valid for any purpose unless in writing and signed by the Party against whom such waiver is asserted. This Agreement is for the sole and exclusive benefit
of, and shall be binding upon, the parties hereto and their successors and permitted assigns, and there are no third party beneficiaries of this Agreement. 
  

 10 

 14. Identifying Information. The Parties acknowledge that a portion of the identifying information
requested by Escrow Agent is required in connection with the USA Patriot Act, Pub.L.107-56 (the “Act”), and each Party agrees to provide any additional information reasonably requested by Escrow Agent in connection with the Act or
any similar legislation or regulation to which Escrow Agent is subject, in a timely manner. Prior to or in connection with the execution of this Agreement, each Party shall provide the Escrow Agent with a fully executed Internal Revenue Service form
W-8 or W-9, as applicable. Each Party represents that all identifying information provided to Escrow Agent, including without limitation, its TIN or Social Security Number assigned by the Internal Revenue Service or any other taxing authority, is
true and complete on the date provided. 
  

 11 

 IN WITNESS WHEREOF, the parties, by their duly authorized officers, have executed this Agreement as of
the date set forth above. 
  

			
	TOUCHTUNES CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JAMES C. (RAD) WEAVER, as COMPANY SHAREHOLDERS’ REPRESENTATIVE
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	MANUFACTURERS AND TRADERS TRUST COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

 Signature page to Escrow Agreement 

 SCHEDULE A 
 RECEIPT OF ESCROW FUNDS 
 Parties: 
 Escrow Shares 
  

									
	 Certificate No.
	 	 Name of
 Stockholder
	 	 Total No. of
 Shares
	 	 No. of Shares of
 Parent Common
 Stock
	 	 No. of Shares of
 Parent Series D
 Preferred
 Common Stock

	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]

 Receipt of the above property is acknowledged this
            day of             , 20            . 
  

			
	Manufacturers and Traders Trust Company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE B 
 DELIVERY OF ESCROW FUNDS 
  

	
	Parties:
	
	Escrow Shares                    ]

  

									
	 Certificate No.
	 	 Name of
 Stockholder
	 	 Total No. of
 Shares
	 	 No. of Shares of
 Parent Common
 Stock
	 	 No. of Shares of
 Parent Series D
 Preferred
 Common Stock

	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]

 SCHEDULE C 
 TELEPHONE NUMBER(S) FOR CALL-BACKS 
 AND 
 PERSONS DESIGNATED TO GIVE
OR CONFIRM FUNDS TRANSFER INSTRUCTIONS 
 If to Parent: 
  

					
	 Name
	  	 Telephone Number
	  	 Signature Specimen

		  		  	
		  		  	

 If to the Company Shareholders’ Representative: 
  

					
	 Name
	  	 Telephone Number
	  	 Signature Specimen

		  		  	
		  		  	

 Telephone call-backs shall be made to each of Parent and the Company Shareholders’ Representative if joint
instructions are required pursuant to this Escrow Agreement. 

 SCHEDULE D 
 ESCROW AGENT FEE SCHEDULE 
 Parties: 
  

			
	Acceptance Fee (one-time only):	  	$             Payable at closing
		
	Annual Escrow Fee:	  	$ 1,000 Payable in advance

 Reasonable Out-of-Pocket Expenses: 
 These expenses include, but are not limited to, reasonable customary expenses such as postage (at cost), shipping charges (at cost), cost of checks,
travel, stationery (at cost), brokerage and security costs, tax and governmental reporting, notices and audit requests. 
 Activity Fees:

  

			
	Investment Transaction Fee	  	$            *
	Processing of requisitions	  	$            
	Disbursements made by wire transfer	  	$            
	Disbursements made by check	  	$            

  

	*	Not applicable to investments in the MTB Group of Funds. Investments in other money market mutual funds incur a 25 basis point annual investment transaction fee.

 ANNEX I 
 INDEMNIFICATION CERTIFICATE OF INSTRUCTION 
 TO 
 MANUFACTURERS AND TRADERS TRUST
COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’ Representative”), and Manufacturers and Traders Trust Company, a New
York banking corporation, as escrow agent (the “Escrow Agent”), are parties to an Escrow Agreement, dated as of [            ], 2008 (the “Escrow
Agreement”). Capitalized terms defined in the Escrow Agreement have the same meanings when used in this Indemnification Certificate of Instruction. 
 Pursuant to Section 3(b) of the Escrow Agreement, Parent: 
 (a) certifies that (i) Parent has
notified the Company Shareholders’ Representative of the existence of a claim for Losses for which an Indemnified Party is entitled to be indemnified under the Merger Agreement, a copy of which notice is attached hereto, and (ii) in the
aggregate, [            ] shares of Parent Common Stock and [            ] shares of Parent Series D Preferred Stock (the
“Owed Amount”) is payable to Parent (or to another Parent Indemnified Party, as the case may be) pursuant to the Merger Agreement by reason of the matter described in such notice; and 
 (b) instructs you to instruct the Company’s transfer agent to cancel the stock certificates in the Escrow Funds and issue new stock certificates to
the holders and in the amounts set forth on Exhibit A-I hereto as follows: (i) if you do not receive an Objection Certificate from the Company Shareholders’ Representative prior to the expiration of the Objection Period, within two
(2) Business Days following the expiration of the Objection Period, or (ii) if you receive an Objection Certificate within the Objection Period, within two (2) Business Days following your receipt of a Resolution Certificate or a
Litigation Certificate. 
  

			
	TOUCHTUNES CORPORATION
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Dated:
[                    ] 
 cc: Company Shareholders’
Representative 
  

 17 

 Exhibit A-I 
  

									
	 Certificate No.
	 	 Name of
 Stockholder
	 	 Total No. of
 Shares
	 	 No. of Shares of
 Parent Common
 Stock
	 	 No. of Shares of
 Parent Series D
 Preferred
 Common Stock

	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]

  

 18 

 ANNEX II 
 OBJECTION CERTIFICATE 
 TO 
 MANUFACTURERS AND TRADERS TRUST COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a
Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’ Representative”), and Manufacturers and Traders Trust Company, a New York banking corporation, as escrow agent (the
“Escrow Agent”), are parties to an Escrow Agreement, dated as of [            ], 2008 (the “Escrow Agreement”). Capitalized terms defined in the Escrow
Agreement have the same meanings when used in this Objection Certificate. 
 Pursuant to Section 3(c) of the Escrow Agreement, the
Company Shareholders’ Representative: 
 (a) disputes that the Owed Amount referred to in the Indemnification Certificate of Instruction
dated [            ] is payable to Parent (or to another Indemnified Party, as the case may be) pursuant to the Merger Agreement; 
 (b) certifies that the undersigned has sent to Parent a written statement dated
[            ] of the Company Shareholders’ Representative, a copy of which is attached hereto, disputing the Indemnified Parties’ right to be indemnified (or to another
Indemnified Party, as the case may be) with respect to the Owed Amount; and 
 (c) objects to your making payment to Parent as provided in
such Indemnification Certificate of Instruction. 
  

	
	 JAMES C. (RAD) WEAVER,
 AS COMPANY SHAREHOLDERS’
REPRESENTATIVE

	
	  

 Dated:
[                    ] 
 cc: Parent 

 ANNEX III 
 RESOLUTION CERTIFICATE 
 TO 
 MANUFACTURERS AND TRADERS TRUST COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a
Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’ Representative”), and Manufacturers and Traders Trust Company, a New York banking corporation, as escrow agent (the
“Escrow Agent”), are parties to an Escrow Agreement, dated as of [            ], 2008 (the “Escrow Agreement”). Capitalized terms defined in the Escrow
Agreement have the same meanings when used in this Resolution Certificate. 
 Pursuant to Section 3(d) of the Escrow Agreement, Parent
and the Company Shareholders’ Representative: 
 (d) certify that (i) Parent and the Company Shareholders’ Representative have
resolved their dispute as to the matter described in the Indemnification Certificate of Instruction dated [            ] and the related Objection Certificate dated
[            ] and (ii) the final Owed Amount with respect to the matter described in such Certificates is [            ]
shares of Parent Common Stock and [            ] shares of Parent Series D Preferred Stock; 
 (e) instruct you to instruct the Company’s transfer agent to cancel the stock certificates in the Escrow Funds and issue new stock certificates to the holders and in the amounts set forth on Exhibit A-III hereto,
within two (2) Business Days following your receipt of this Certificate; and 
 (f) agree that the Owed Amount designated in such
Indemnification Certificate of Instruction, to the extent, if any, it exceeds the Owed Amount referred to in clause (ii) of paragraph (a) above, shall be deemed not payable to Parent (or to another Indemnified Party, as the case may be)
and such Indemnification Certificate of Instruction is hereby cancelled. 
  

					
		 	TOUCHTUNES CORPORATION
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

		
		 	JAMES C. (RAD) WEAVER,
		 	AS COMPANY SHAREHOLDERS’ REPRESENTATIVE
		
	Dated: [                    ]	 	  

 Exhibit A-III 
  

									
	 Certificate No.
	 	 Name of
 Stockholder
	 	 Total No. of
 Shares
	 	 No. of Shares of
 Parent Common
 Stock
	 	 No. of Shares of
 Parent Series D
 Preferred
 Common Stock

	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]

  

 21 

 ANNEX IV 
 LITIGATION CERTIFICATE 
 TO 
 MANUFACTURERS AND TRADERS TRUST COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a
Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’ Representative”), and Manufacturers and Traders Trust Company, a New York banking corporation, as escrow agent (the
“Escrow Agent”), are parties to an Escrow Agreement, dated as of [            ], 2008 (the “Escrow Agreement”). Capitalized terms defined in the Escrow
Agreement have the same meanings when used in this Litigation Certificate. 
 Pursuant to Section 3(d) of the Escrow Agreement, Parent:

 (g) certifies that (i) attached hereto is (A) a final, nonappealable order of a court of competent jurisdiction, (B) an
executed settlement agreement and release by the parties to the Indemnified Litigation, or (C) of a final, non-appealable award in an arbitration proceeding, resolving the dispute between Parent and the Company Shareholders’ Representative
as to the matter described in the Indemnification Certificate of Instruction dated [            ] and the related Objection Certificate dated
[            ] and (ii) the final Owed Amount with respect to the matter described in such Certificates, as provided in the attached order is
[            ] shares of Parent Common Stock and [            ] shares of Parent Series D Preferred Stock; 
 (h) instruct you to instruct the Company’s transfer agent to cancel the stock certificates in the Escrow Funds and issue new stock certificates to
the holders and in the amounts set forth on Exhibit A-IV hereto, within two (2) Business Days following your receipt of this Certificate; and 
 (i) agrees that the Owed Amount designated in such Indemnification Certificate of Instruction, to the extent, if any, it exceeds the Owed Amount referred to in clause (ii) of paragraph (a) above, shall be deemed not payable to
Parent (or to another Indemnified Party, as the case may be) and such Indemnification Certificate of Instruction is hereby cancelled. 
  

					
	Dated: [                    ]	 	TOUCHTUNES CORPORATION
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 cc: Company Shareholders’ Representative 

 Exhibit A-IV 
  

									
	 Certificate No.
	 	 Name of
 Stockholder
	 	 Total No. of
 Shares
	 	 No. of Shares of
 Parent Common
 Stock
	 	 No. of Shares of
 Parent Series D
 Preferred
 Common Stock

	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]

 ANNEX V 
 PARENT CANCELLATION CERTIFICATE 
 TO 

MANUFACTURERS AND TRADERS TRUST COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a
Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’ Representative”), and Manufacturers and Traders, a New York banking corporation, as escrow agent (the “Escrow
Agent”), are parties to an Escrow Agreement, dated as of [            ], 2008 (the “Escrow Agreement”). Capitalized terms defined in the Escrow Agreement have the
same meanings when used in this Company Shareholders’ Representative Cancellation Certificate. 
 Pursuant to Section 4(g) of the
Escrow Agreement, Parent: 
 (j) certifies that (i) it hereby withdraws its claim against the Escrow Funds with respect to [all] [specify
portion] of the Owed Amount designated in the Indemnification Certificate of Instruction dated [            ] and (ii) as a result the Owed Amount with respect to such Indemnification
Certificate of Instruction is [            ] shares of Parent Common Stock and [            ] shares of Parent Series D Preferred
Stock; and 
 (k) agrees that such Indemnification Certificate of Instruction is, to the extent released as provided in clause (i) of
paragraph (a) above, cancelled. If the date of this Parent Cancellation Certificate is after the Escrow Period, Parent hereby authorizes the Escrow Agent to release the Owed Amount to the Company Shareholders’ Representative to the extent
that there are no outstanding Indemnification Certificates of Instruction with respect to the Escrow Funds. 
  

					
	Dated: [                    ]	 	TOUCHTUNES CORPORATION
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 cc: Company Shareholders’ Representative 

 ANNEX VI 
 COMPANY SHAREHOLDERS’ REPRESENTATIVE CANCELLATION CERTIFICATE 
 TO 
 MANUFACTURERS AND
TRADERS TRUST COMPANY 
 as Escrow Agent 
 TouchTunes Corporation, a Delaware corporation (“Parent”), James C. (Rad) Weaver (the “Company Shareholders’
Representative”), and Manufacturers and Traders Trust Company, a New York banking corporation, as escrow agent (the “Escrow Agent”), are parties to an Escrow Agreement, dated as of
[            ], 2008 (the “Escrow Agreement”). Capitalized terms defined in the Escrow Agreement have the same meanings when used in this Company Shareholders’
Representative Cancellation Certificate. 
 Pursuant to Section 3(h) of the Escrow Agreement, the Company Shareholders’
Representative certifies that (i) attached hereto is a final, nonappealable order of a court of competent jurisdiction resolving the dispute between Parent and the Company Shareholders’ Representative as to the matter described in the
Indemnification Certificate of Instruction dated [            ] and the related Objection Certificate dated [            ] and
(ii) as a result the Owed Amount with respect to such Indemnification Certificate of Instruction is [            ] shares of Parent Common Stock and
[            ] shares of Parent Series D Preferred Stock. 
  

	
	 JAMES C. (RAD) WEAVER,
 AS COMPANY SHAREHOLDERS’
REPRESENTATIVE

	
	  

 Dated:
[                    ] 

 EXHIBIT B 
 TOUCHTUNES CORPORATION 
 AMENDED AND RESTATED 
 INVESTORS’ RIGHTS AGREEMENT 
 September [    ], 2008 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	 Page

	 1.
	  	Registration Rights	  	1
		  	1.1	  	 Definitions
	  	1
		  	1.2	  	 Request for Registration
	  	3
		  	1.3	  	 Company Registration
	  	4
		  	1.4	  	 Form S-3 Registration
	  	6
		  	1.5	  	 Obligations of the Company
	  	7
		  	1.6	  	 Information from Holder
	  	9
		  	1.7	  	 Expenses of Registration
	  	9
		  	1.8	  	 Delay of Registration
	  	10
		  	1.9	  	 Indemnification
	  	10
		  	1.10	  	 Reports Under the 1934 Act
	  	12
		  	1.11	  	 Assignment of Registration Rights
	  	13
		  	1.12	  	 Limitations on Subsequent Registration Rights
	  	13
		  	1.13	  	 “Market Stand Off” Agreement”
	  	13
		  	1.14	  	 Participation in Initial Offering
	  	14
		  	1.15	  	 Termination of Registration Rights
	  	15
			
	 2.
	  	Covenants of the Company	  	15
		  	2.1	  	 Delivery of Financial Statements
	  	15
		  	2.2	  	 Inspection
	  	16
		  	2.3	  	 Termination of Information and Inspection Covenants
	  	16
		  	2.4	  	 Right of First Offer
	  	17
		  	2.5	  	 Proprietary Information and Inventions Agreements
	  	18
		  	2.6	  	 Employee Agreements
	  	19
		  	2.7	  	 Lock-Up of Future Securityholders
	  	19
		  	2.8	  	 D&O Insurance
	  	19
		  	2.9	  	 Equal Board Treatment
	  	19
		  	2.10	  	 Series C Preferred Stock Dividends
	  	19
		  	2.11	  	 Termination of Certain Covenants
	  	19
		  	2.12	  	 Protective Provision for Preferred Stock
	  	20
		  	2.13	  	 Board Observer
	  	20
			
	 3.
	  	Miscellaneous	  	20
		  	3.1	  	 Successors and Assigns
	  	20
		  	3.2	  	 Governing Law
	  	20
		  	3.3	  	 Counterparts
	  	21
		  	3.4	  	 Titles and Subtitles
	  	21
		  	3.5	  	 Notices
	  	21
		  	3.6	  	 Expenses
	  	21

  

 i 

							
		  	3.7	  	 Entire Agreement; Amendments and Waivers
	  	21
		  	 3.8
	  	 Severability
	  	22
		  	 3.9
	  	 Aggregation of Stock
	  	22
		  	 3.10
	  	 Dispute Resolution
	  	22
		  	 3.11
	  	 Waiver of Jury Trial
	  	23

  

 ii 

 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
 This AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made as of the [    ] day of
September, 2008, by and among TouchTunes Corporation, a Delaware corporation (the “Company”), the holders of the Company’s capital stock listed on the Schedule of Existing Preferred Stockholders attached as Schedule A
hereto (the “Existing Preferred Stockholders”), the holders of the Company’s capital stock listed on the Schedule of White Rabbit Stockholders attached as Schedule B hereto (the “White Rabbit
Stockholders,” together with the Existing Preferred Stockholders, the “Existing Stockholders”), the holders of the Company’s capital stock listed on the Schedule of Barfly Common Stockholders attached as Schedule
C hereto (the “Barfly Common Stockholders”), and the holders of the Company’s capital stock listed on the Schedule of Barfly Preferred Stockholders attached as Schedule D hereto (the “Barfly Preferred
Stockholders,” together with the Barfly Common Stockholders, the “Barfly Stockholders”). The Barfly Stockholders and the Existing Preferred Stockholders are together referred to as the “Investors.” The
Company, White Rabbit Stockholders and the Investors are individually referred to herein as a “Party” and are collectively referred to herein as the “Parties.” The Company’s Board of Directors is referred to
herein as the “Board.” 
 RECITALS 
 WHEREAS, the Company and the Existing Stockholders are parties to the Investors’ Rights Agreement, dated as of November 9, 2006, as
amended by Amendment No. 1 dated as of September 24, 2007 and Amendment No. 2 dated as of December 6, 2007 (the “Investors’ Rights Agreement”); 
 WHEREAS, pursuant to Section 3.7 of the Investors’ Rights Agreement, such agreement may be amended by the Company and VantagePoint CDP
Partners, L.P., as the holder of a majority of the shares of Common Stock (including Common Stock issuable or issued upon conversion of Preferred Stock); 
 WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of August 26, 2008 (the “Merger Agreement”), between, among others, the Company and National Broadcast Media Corp., doing
business as Barfly Interactive Networks (“Barfly”), it is a condition to the closing under the Merger Agreement that the Barfly Stockholders become parties to this Agreement; 
 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 
 1. Registration Rights. The Company covenants and agrees as follows: 
 1.1 Definitions. For
purposes of this Section 1: 
 (a) The term “Act” means the Securities Act of 1933, as amended. 
 (b) The term “Common Stock” means the common stock, par value $0.001 per share, of the Company. 

 (c) The term “Form S-3” means such form under the Act as in effect on the date hereof
or any registration form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 
 (d) The term “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee thereof in
accordance with Section 1.11 hereof. 
 (e) The term “Major Barfly Preferred Stockholder” means those Barfly
Preferred Stockholders holding at least 500,000 shares of Registrable Securities. 
 (f) The term “Preferred Stock” means
Series A Preferred Stock, Series B Preferred Stock, the Series C Preferred Stock and Series D Preferred Stock. 
 (g) The term
“Qualified Public Offering” shall have the same meaning as set forth in the Company’s Amended and Restated Certificate of Incorporation, as may be further amended from time to time (the “Certificate”).

 (h) The terms “register,” “registered,” and “registration” refer to a registration
effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or document. 
 (i) The term “Registrable Securities” means the Common Stock (i) issuable or issued to the White Rabbit Stockholders
pursuant to the Purchase Agreement, dated September 24, 2007, among TouchTunes Music Corporation, White Rabbit Game Studio, LLC, the Sellers’ Representative and the Sellers named therein, as amended by Amendment No. 1 on
December 6, 2007 (the “Purchase Agreement”), (ii) issuable or issued to the Barfly Common Stockholders pursuant to the Merger Agreement, and (iii) issuable or issued upon conversion of (a) the Preferred
Stock and (b) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the
shares referenced in (i), (ii) and (iii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his rights under this Section 1 are not assigned. 
 (j) The number of shares of Registrable Securities outstanding shall be determined by the number of shares of Common Stock outstanding that are, and the
number of shares of Common Stock issuable pursuant to then exercisable or convertible securities that are, Registrable Securities. 
 (k)
The term “Rule 144” shall mean Rule 144 under the Act. 
 (l) The term “Rule 144(k)” shall
mean subsection (k) of Rule 144 under the Act. 
 (m) The term “SEC” shall mean the Securities and Exchange
Commission. 
  

 2 

 (n) The term “1934 Act” means the Securities Exchange Act of 1934, as amended.

 (o) The term “Series A Preferred Stock” means the Series A Preferred Stock, par value $0.001 per share, of the Company.

 (p) The term “Series B Preferred Stock” means the Series B Preferred Stock, par value $0.001 per share, of the Company.

 (q) The term “Series C Preferred Stock” means the Series C Preferred Stock, par value $0.001 per share, of the Company.

 (r) The term “Series D Preferred Stock” means the Series D Preferred Stock, par value $0.001 per share, of the Company.

 1.2 Request for Registration. 
 (a) Subject to the conditions of this Section 1.2, if the Company shall receive at any time after the earlier of (i) November 9, 2011 or (ii) six (6) months after the effective date of the
Qualified Public Offering, a written request from the Holders of twenty-five percent (25%) or more of the Registrable Securities then outstanding (for purposes of this Section 1.2, the “Initiating Holders”) that the
Company file a registration statement under the Act covering the registration of Registrable Securities with an anticipated aggregate offering price of at least $10,000,000, then the Company shall, within twenty (20) days of the receipt
thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 1.2, use all commercially reasonable efforts to effect, as soon as practicable, the registration under the Act of all Registrable
Securities that the Holders request to be registered in a written request received by the Company within twenty (20) days of the mailing of the Company’s notice pursuant to this Section 1.2(a). 
 (b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise
the Company as a part of their request made pursuant to this Section 1.2 and the Company shall include such information in the written notice referred to in Section 1.2(a). In such event the right of any Holder to include its Registrable
Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in
interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by the Company (which underwriter or underwriters shall be reasonably acceptable to a majority in interest of the Initiating Holders). Notwithstanding any other provision of this Section 1.2, if the
underwriter advises the Company that marketing factors require a limitation on the number of securities underwritten (including Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be
underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated (i) first to Holders of Registrable Securities issuable or issued under clauses (i) and (iii) of the definition of

  

 3 

 
“Registrable Securities,” pro rata according to the number of Registrable Securities held by each such Holder, and (ii) second, to the
remaining Holders of Registrable Securities pro rata based on the number of Registrable Securities held by all such Holders. In no event shall any Registrable Securities be excluded from such underwriting unless all other securities are first
excluded. Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 
 (c)
Notwithstanding the foregoing, the Company shall not be required to effect a registration pursuant to this Section 1.2: 
 (i) in any
particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be required
under the Act; 
 (ii) after the Company has effected two (2) registrations pursuant to this Section 1.2, and such registrations
have been declared or ordered effective; 
 (iii) during the period starting with the date sixty (60) days prior to the Company’s
good faith estimate of the date of the filing of and ending on a date one hundred eighty (180) days following the effective date of a Company initiated registration subject to Section 1.3 below, provided that the Company is actively
employing in good faith all commercially reasonable efforts to cause such registration statement to become effective; 
 (iv) if the
Initiating Holders propose to dispose of Registrable Securities that may be registered on Form S-3 pursuant to Section 1.4 hereof; or 
 (v) if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 1.2 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board stating that, in the good faith
judgment of the Board, it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more
than one hundred twenty (120) days after receipt of the request of the Initiating Holders, provided that such right shall be exercised by the Company not more than once in any twelve (12) month period and provided further that the Company
shall not register any securities for the account of itself or any other stockholder during such one hundred twenty (120) day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a
registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement
covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered). 
 1.3 Company Registration. 
 (a) If
(but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the Company for 

  

 4 

 
stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities (other than
a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon
conversion of debt securities that are also being registered), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within twenty (20) days after mailing
of such notice by the Company in accordance with Section 3.5, the Company shall, subject to the provisions of Section 1.3(c), use all commercially reasonable efforts to cause to be registered under the Act all of the Registrable Securities
that each such Holder requests to be registered. 
 (b) Right to Terminate Registration. The Company shall have the right to
terminate or withdraw any registration initiated by it under this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn
registration shall be borne by the Company in accordance with Section 1.7 hereof. 
 (c) Underwriting Requirements. In
connection with any offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under this Section 1.3 to include any of the Holders’ securities in such underwriting unless they
accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company (or by other persons entitled to select the underwriters) and enter into an underwriting agreement in customary form with such
underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including Registrable Securities, that the underwriters determine in their sole discretion will not jeopardize the success of the offering. In no event shall any Registrable Securities
be excluded from such offering unless all other stockholders’ securities have been first excluded. In the event that the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such
offering, then the Registrable Securities that are included in such offering shall be allocated (i) first to Holders of Registrable Securities who hold Preferred Stock, pro rata according to the number of Registrable Securities held by each
such Holder and (ii) second, to the remaining Holders of Registrable Securities pro rata based on the number of Registrable Securities held by all such Holders. Notwithstanding the foregoing, in no event shall (i) the amount of securities
of the selling Holders included in the offering be reduced below thirty percent (30%) of the total amount of securities included in such offering, unless such offering is the Company’s first firm commitment underwritten public offering of
its Common Stock under the Act (the “Initial Offering”), in which case the selling Holders may be excluded if the underwriters make the determination described above and no other stockholder’s securities are included in
such offering. For purposes of the preceding sentence and for purposes of 

  

 5 

 
Section 1.2(b) concerning apportionment, for any selling stockholder that is a Holder of Registrable Securities and that is a venture capital fund,
partnership or corporation, the affiliated venture capital funds, partners, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the
foregoing persons shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such selling Holder shall be based upon the aggregate amount of Registrable Securities owned by all such related
entities and individuals. 
 1.4 Form S-3 Registration. In case the Company shall receive from the Holders of twenty-five percent
(25%) or more of the Registrable Securities then outstanding (for purposes of this Section 1.4, the “Initiating Holders”) a written request or requests that the Company effect a registration on Form S-3 and any
related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company shall: 
 (a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 
 (b) use all commercially reasonable efforts to effect, as soon as practicable, such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such
portion of such Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holders joining in such request as are specified in a written request given within
fifteen (15) days after receipt of such written notice from the Company, provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 1.4: 
 (i) if Form S-3 is not available for such offering by the Holders; 
 (ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an
aggregate price to the public (net of any underwriters’ discounts or commissions) of less than $3,500,000; 
 (iii) if the Company
shall furnish to Holders requesting a registration statement pursuant to this Section 1.4 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board stating that in the good faith judgment of the Board, it would
be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than one hundred twenty
(120) days after receipt of the request of the Initiating Holders, provided that such right shall be exercised by the Company not more than once in any twelve (12)-month period and provided further that the Company shall not register any
securities for the account of itself or any other stockholder during such one hundred twenty (120) day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating
to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include 

  

 6 

 
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a
registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered); 
 (iv) if the Company has, within the six (6) month period preceding the date of such request, already effected one registration on Form S-3 for the Holders pursuant to this Section 1.4; or 
 (v) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of
process in effecting such registration, qualification or compliance. 
 (c) If the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 1.4 and the Company shall include such information in the written notice referred to in
Section 1.4(a). The provisions of Section 1.2(b) shall be applicable to such request (with the substitution of Section 1.4 for references to Section 1.2). 
 (d) Subject to the foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so requested to
be registered as soon as practicable after receipt of the request or requests of the Initiating Holders. Registrations effected pursuant to this Section 1.4 shall not be counted as requests for registration effected pursuant to
Section 1.2. 
 1.5 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any
Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) prepare and file with the SEC a registration
statement with respect to such Registrable Securities and use all commercially reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered
thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; provided, however, that such 120
day period shall be extended for a period of time equal to the period of time that the Holders refrain from selling any securities included in such registration upon the request of the Company or the underwriters; 
 (b) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement; 
 (c) furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Act,
and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 
  

 7 

 (d) use all commercially reasonable efforts to register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify
to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (e) in the event of any
underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; and furnish, at the request of any Holder requesting registration of
Registrable Securities pursuant to this Section 1, on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 1, if such securities are being sold
through underwriters, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to
the underwriters and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified accountants to underwriters in an underwritten public
offering, addressed to the underwriters; 
 (f) notify each Holder of Registrable Securities covered by such registration statement at any
time when a prospectus relating thereto is required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and the Company shall promptly either amend such prospectus or
file a supplement, in compliance with state and federal securities laws, to correct such untrue statement of material fact or omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in the light of the circumstances then existing; 
 (g) cause all such Registrable Securities registered pursuant to this Section 1 to
be listed on a national exchange or trading system and on each securities exchange and trading system on which similar securities issued by the Company are then listed; 
 (h) provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such
registration; 
 (i) notify each Holder promptly after the Company receives notice thereof, of the time when such registration statement has
become effective or a supplement of such registration has been filed; 
 (j) advise each Holder promptly after the Company shall receive
notice or obtain knowledge thereof, of the issuance of any stop order by the SEC 

  

 8 

 
suspending the effectiveness of such registration statement or the threatening of any proceeding for such purpose and promptly use all commercially
reasonable efforts to prevent the issuance of any stop order should such be issued; and 
 (k) make generally available to its security
holders, and to deliver to the Holders an earnings statement of the Company (that will satisfy the provisions of Section 11(a) of the Act) covering a period of twelve (12) months beginning after the effective date of the registration
statement (as defined in Rule 158(c) under the Act) as soon as is reasonably practicable after the termination of such twelve (12) month period and upon the request of a Holder. 
 Notwithstanding the provisions of this Section 1, the Company shall be entitled to suspend, for a reasonable period of time not to exceed ninety
(90) days, the effectiveness or use of, or trading under, any registration statement if the Company shall determine that any such filing or the sale of any securities pursuant to such registration statement would in the good faith judgment of
the Board: 
 (i) materially impede, delay or interfere with any material pending or proposed financing, acquisition, corporate
reorganization or other similar transaction involving the Company for which the Board has authorized negotiations; 
 (ii) materially
adversely impair the consummation of any pending or proposed material offering or sale of any class of securities by the Company; or 
 (iii) require disclosure of material nonpublic information that, if disclosed at such time, would be materially harmful to the interests of the Company and its stockholders; provided, however, that during any such period all
executive officers and directors of the Company are also prohibited from selling securities of the Company (or any security of any of the Company’s subsidiaries or affiliates). 
 (iv) In the event of the suspension of effectiveness of any registration statement pursuant to this Section 1.5, the applicable time period during
which such registration statement is to remain effective shall be extended by that number of days equal to the number of days the effectiveness of such registration statement was suspended. 
 1.6 Information from Holder. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 1 with
respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be
reasonably required to effect the registration of such Holder’s Registrable Securities. 
 1.7 Expenses of Registration. All
expenses other than underwriting discounts and commissions incurred in connection with registrations, filings or qualifications pursuant to Sections 1.2, 1.3 and 1.4, including (without limitation) all registration, filing and qualification fees,
printers’ and accounting fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of one counsel for the selling Holders shall be borne by the Company. Notwithstanding the foregoing, the Company shall
not be required to 

  

 9 

 
pay for any expenses of any registration proceeding begun pursuant to Section 1.2 or Section 1.4 if the registration request is subsequently
withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included
in the withdrawn registration), unless, in the case of a registration requested under Section 1.2, the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant to Section 1.2 and
provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business or prospects of the Company from that known to the Holders at the time of their request and have withdrawn
the request with reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 1.2 and 1.4.

 1.8 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 
 1.9 Indemnification. In the event any Registrable Securities are included in a registration statement under this Section 1: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, officers, directors, partners, members and stockholders of each Holder, legal counsel and accountants for each Holder, any
underwriter (as defined in the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the 1934 Act, against any losses, claims, damages or liabilities (joint or several) to which they
may become subject under the Act, the 1934 Act, any other federal or state securities laws or any rule or regulation promulgated thereunder, insofar as such losses, claims, damages, or liabilities (or actions, proceedings or settlements in respect
thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state in such registration statement a material fact required
to be stated therein, or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any other federal or state securities laws or any rule or regulation
promulgated thereunder, and the Company will reimburse each such Holder, underwriter, controlling person or other aforementioned person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any
such loss, claim, damage, liability or action, proceeding or settlement as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section l.9(a) shall not apply to amounts paid in settlement of any such loss,
claim, damage, liability or action, proceeding or settlement if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed), nor shall the Company be liable in any such case for any
such loss, claim, damage, liability or action, proceeding or settlement to the extent that it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in
connection with such 

  

 10 

 
registration by any such Holder, underwriter, controlling person or other aforementioned person; provided further, however, that the foregoing indemnity
agreement with respect to any preliminary prospectus shall not inure to the benefit of any Holder or underwriter or other aforementioned person, or any person controlling such Holder or underwriter, from whom the person asserting any such losses,
claims, damages or liabilities purchased shares in the offering, if a copy of the most current prospectus was not sent or given by or on behalf of such Holder or underwriter or other aforementioned person to such person, if required by law to have
been so delivered, at or prior to the written confirmation of the sale of the shares to such person, and if the prospectus (as so amended or supplemented) would have cured the defect giving rise to such loss, claim, damage or liability and provided
that the Company had made available such prospectus for delivery by such Holder or underwriter. 
 (b) To the extent permitted by law, each
selling Holder will indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, legal counsel and
accountants for the Company, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or
several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act, any other federal or state securities laws or any rule or regulation promulgated thereunder, insofar as such losses, claims, damages or liabilities (or
actions, proceedings or settlements in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any person intended to be indemnified pursuant to this Section l.9(b) for any legal or other expenses reasonably incurred by such
person in connection with investigating or defending any such loss, claim, damage, liability or action, proceeding or settlement as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section l.9(b) shall
not apply to amounts paid in settlement of any such loss, claim, damage, liability or action, proceeding or settlement if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld), and provided
that in no event shall any indemnity under this Section l.9(b) exceed the net proceeds from the offering received by such Holder. 
 (c)
Promptly after receipt by an indemnified party under this Section 1.9 of notice of the commencement of any action, proceeding or settlement (including any governmental action), such indemnified party will, if a claim in respect thereof is to be
made against any indemnifying party under this Section 1.9, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties
that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any 

  

 11 

 
such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of liability to the indemnified party under this
Section 1.9 to the extent of such prejudice, but the omission to so deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 1.9.

 (d) If the indemnification provided for in this Section 1.9 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute, subject to the limitations described in
Sections 1.9(a) and 1.9(b), to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one
hand and the indemnified party on the other hand in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations; provided, however, that no
contribution by any Holder, when combined with any amounts paid by such Holder pursuant to Section 1.9(b), shall exceed the net proceeds from the offering received by such Holder. The relative fault of the indemnifying party and the indemnified
party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information furnished expressly for use in
connection with such registration by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered
into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided that should the underwriting agreement not address an aspect of
indemnification and contribution contained in this Section 1.9, that shall not constitute a conflict for purposes of this Section 1.9(e). 
 (f) The obligations of the Company and Holders under this Section 1.9 shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 1 and otherwise.

 1.10 Reports Under the 1934 Act. With a view to making available to the Holders the benefits of Rule 144 and any other rule or
regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times after the effective date of the
Qualified Public Offering; 
 (b) file with the SEC in a timely manner all reports and other documents required of the Company under the Act
and the 1934 Act; and 
  

 12 

 (c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request
(i) a written statement by the Company that it has complied with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company), the Act and the
1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the SEC that permits the
selling of any such securities without registration or pursuant to such form. 
 1.11 Assignment of Registration Rights. The rights
to cause the Company to register Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities that (i) is a subsidiary, parent,
partner, limited partner, retired partner or stockholder of a Holder, (ii) is a Holder’s family member or trust for the benefit of an individual Holder, or (iii) after such assignment or transfer, holds at least 15,000,000 shares of
Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations or the like), provided: (A) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and
address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (B) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this
Agreement, including, without limitation, the provisions of Section 1.13 below; and (C) such assignment shall be effective only if immediately following such transfer the further disposition of such securities by the transferee or assignee
is restricted under the Act. 
 1.12 Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the
Company shall not, without the prior written consent of the Holders of at least a majority of the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or
prospective holder (a) to include any of such securities in any registration filed under Section 1.2, Section 1.3 or Section 1.4 hereof, unless under the terms of such agreement, such holder or prospective holder may include such
securities in any such registration only to the extent that the inclusion of such securities will not reduce the amount of the Registrable Securities of the Holders that are included or (b) to demand registration of their securities.

 1.13 “Market Stand Off” Agreement” 
 (a) Each holder of equity securities of the Company that is a party to this Agreement (a “Company Stockholder”) hereby agrees that it will not, without the prior written consent of the managing
underwriter, during the period commencing on the date of the final prospectus relating to the Initial Offering and ending on the date specified by the Company and the managing underwriter (such period not to exceed (a) one hundred eighty (l80)
days (or such longer period as the underwriters or the Company shall require in order to facilitate compliance with NASD Rule 2711)) with respect to the Company’s Initial Offering and (b) ninety (90) days with respect to a Company
underwritten offering other than the Initial Offering, (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any 

  

 13 

 
option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common
Stock or any securities convertible into or exercisable or exchangeable for Common Stock held immediately prior to the effectiveness of the Registration Statement for such offering, or (ii) enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other
securities, in cash or otherwise. The foregoing provisions of this Section 1.13 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement. In addition, the provisions of this Section 1.13 shall only
be applicable to the Company Stockholders if all officers, directors and greater than one percent (1%) stockholders of the Company enter into similar agreements. The underwriters in connection with the Company’s Initial Offering are
intended third party beneficiaries of this Section 1.13 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Company Stockholder further agrees to execute such agreements as may
be reasonably requested by the underwriters in the Company’s Initial Offering that are consistent with this Section 1.13 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of
any or all of such agreements or this Section 1.13 by the Company or the underwriters shall apply to all holders of capital stock of the Company subject to such agreements pro rata based on the number of shares subject to such agreements.

 In order to enforce the foregoing covenant, the Company may impose stop transfer instructions with respect to the Registrable Securities
of each Company Stockholder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 
 (b) Each Company Stockholder agrees that a legend reading substantially as follows shall be placed on all certificates representing all Registrable Securities of each Company Stockholder (and the shares or securities
of every other person subject to the restriction contained in this Section 1.13): 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS AFTER THE EFFECTIVE DATE OF THE ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY
OF WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES. 
 1.14
Participation in Initial Offering. Holders shall have the option to purchase, pro rata based on the number of shares of Common Stock held by such Holder (assuming full conversion at the then effective conversion rate of all Preferred Stock),
up to five percent (5%) of the shares sold in the Company’s Initial Offering (without giving effect to any over-allotment option of the underwriters of such Initial Offering), at the same price and on the same terms as the other
participants such Initial Offering, net of any underwriters’ discount or 

  

 14 

 
commission, provided, however, that such right shall not be available to any Holder whose Registrable Securities (or Registrable Securities held by any
affiliate of such Holder) are to be registered in such Initial Offering pursuant to Section 1.3(a) hereof. If the Board, in its sole discretion, decides that such option of the Holders to purchase shares of the Company’s Common Stock in
the Initial Offering is not in the best interests of the Company or its stockholders or is otherwise inadvisable, in lieu of permitting the Holders to participate in the Initial Offering, the Company shall grant such Holders the option to purchase
pro rata based on the number of shares of Common Stock held by each such Holder (assuming full conversion at the then effective conversion rate of all Preferred Stock), on the closing date of the Initial Offering, the number of shares equal to five
percent (5%) of the shares sold in the Company’s Initial Offering in a private placement at the same price and on the same terms as the participants in the Initial Offering, net of any underwriters’ discount or commission. The option
to purchase shares of the Company’s Common Stock in the Company’s Initial Offering or in a private placement of shares of Common Stock pursuant to this Section 1.3(d) shall be subject to, and limited by, the rules and regulations of
the SEC governing such purchases. 
 1.15 Termination of Registration Rights. No Holder shall be entitled to exercise any right
provided for in this Section 1 (i) after five (5) years following the consummation of the Qualified Public Offering, (ii) as to any Holder, such earlier time after the Qualified Public Offering at which such Holder (A) can
sell all shares held by it in compliance with Rule 144(k) or (B) holds one percent (1%) or less of the Company’s outstanding Common Stock and all Registrable Securities held by such Holder (together with any affiliate of the Holder
with whom such Holder must aggregate its sales under Rule 144) can be sold in any three (3)-month period without registration in compliance with Rule 144 or (iii) when the Company shall sell, convey, or dispose of all or substantially all of
the Company’s property or business or merge with or into or consolidate with any other corporation (other than a wholly-owned subsidiary corporation) or effect any other transaction or series of related transactions in which more than fifty
percent (50%) of the voting power of the Company is disposed of, in each case in a transaction in which the Holders receive, or at such later time at which the Holders receive, cash, cash equivalents or Marketable Securities (as defined below)
in consideration for the Registrable Securities held by them; provided that this Section 1.15 shall not cause the Holders’ registration rights to terminate following a merger effected solely for the purpose of changing the domicile of the
Company. For purposes of this Agreement, the term “Marketable Securities” means securities that are listed on a national securities exchange or listed on the NASDAQ National Market System and either (i) freely tradeable
by the Holders under applicable securities laws on such exchange or system; or (ii) with respect to which the Holder has received registration rights materially similar to those provided under Section 1 of this Agreement. 
 2. Covenants of the Company. 
 2.1
Delivery of Financial Statements. The Company shall, upon request, deliver to each Investor (or transferee of an Investor) that holds at least 15,000,000 shares of Registrable Securities or that is a Major Barfly Preferred Stockholder:

 (a) as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company, an income
statement for such fiscal year, a balance sheet of the Company and statement of stockholders’ equity as of the end of such year, 

  

 15 

 
and a statement of cash flows for such year, such year end financial reports to be in reasonable detail, prepared in accordance with generally accepted
accounting principles (“GAAP”), and audited and certified by independent public accountants of nationally recognized standing selected by the Company; 
 (b) as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, an unaudited income statement, statement of
cash flows for such fiscal quarter and an unaudited balance sheet as of the end of such fiscal quarter. 
 (c) within forty-five
(45) days of the end of each month an unaudited income statement, statement of cash flows and balance sheet for and as of the end of such month, in reasonable detail and a management report for such month, in a format to be agreed upon by the
management and the Investors; 
 (d) as soon as practicable, but in any event no later than the fifteenth of December of each fiscal year, a
budget and business plan for the next fiscal year, prepared on a monthly basis, and, as soon as prepared, any other budgets or revised budgets prepared by the Company; 
 (e) with respect to the financial statements called for in Section 2.1(b) and 2.1(c), an instrument executed by the Chief Financial Officer or President of the Company certifying that such financials were
prepared in accordance with GAAP consistently applied with prior practice for earlier periods (with the exception of footnotes that may be required by GAAP) and fairly present the financial condition of the Company and its results of operation for
the period specified, subject to year-end audit adjustment; and 
 (f) such other information relating to the financial condition, business
or corporate affairs of the Company as the Investor may from time to time request, provided, however, that the Company shall not be obligated under this Section 2.1(f) or any other subsection of Section 2.1 to provide information that it
deems in good faith to be a trade secret or similar confidential information. 
 2.2 Inspection. The Company shall permit each
Investor, at such Investor’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable
times as may be requested by the Investor; provided, however, that the Company shall not be obligated pursuant to this Section 2.2 to provide access to any information that it reasonably considers to be a trade secret or similar confidential
information. 
 2.3 Termination of Information and Inspection Covenants. The covenants set forth in Sections 2.1 and 2.2 shall
terminate and be of no further force or effect upon the earliest to occur of (i) the consummation of the sale of securities pursuant to a registration statement filed by the Company under the Act in connection with the firm commitment
underwritten offering of its securities to the general public, (ii) when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act or (iii) the consummation of a Liquidation Event,
as that term is defined in the Certificate. 
  

 16 

 2.4 Right of First Offer. Subject to the terms and conditions specified in this Section 2.4,
the Company hereby grants to each Investor a right of first offer to purchase its pro rata portion of future sales by the Company of its Shares (as hereinafter defined). An Investor shall include any general partners and affiliates of an Investor.
Investors shall be entitled to apportion the right of first offer hereby granted it among itself and its partners and affiliates in such proportions as it deems appropriate. 
 Each time the Company proposes to offer any shares of, or securities convertible into or exchangeable or exercisable for any shares of, its capital stock
(“Shares”), the Company shall first make an offering to each Investor to purchase its pro rata portion of such Shares in accordance with the following provisions: 
 (a) The Company shall deliver a notice in accordance with Section 3.5 (“Notices”) to the Investors stating (i) its bona fide
intention to offer such Shares, (ii) the number of such Shares to be offered and (iii) the price and terms upon which it proposes to offer such Shares. 
 (b) By written notification received by the Company within twenty (20) calendar days after the giving of Notice, each Investor may elect to purchase, at the price and on the terms specified in the Notice, that
portion of such Shares that equals the proportion that the number of shares of Common Stock that are Registrable Securities issued and held by such Investor (assuming full conversion and exercise of all convertible and exercisable securities then
outstanding) bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all convertible and exercisable securities then outstanding). The Company shall promptly, in writing, inform
each Investor that elects to purchase all the shares available to it (a “Fully-Exercising Investor”) of any other Investor’s failure to do likewise. During the ten (10) day period commencing after such information is given, each
Investor that is a Fully-Exercising Investor may elect to purchase that portion of the Shares for which the Investors were entitled to subscribe, but which were not subscribed for by the Investors, that is equal to the proportion that the number of
shares of Registrable Securities issued and held by such Fully-Exercising Investor bears to the number of shares of Registrable Securities issued and held by all Investors that are Fully-Exercising Investors. 
 (c) If all Shares that Investors are entitled to obtain pursuant to Section 2.4(b) are not elected to be obtained as provided in
Section 2.4(b) hereof, the Company may, during the ninety (90) day period following the expiration of the period provided in Section 2.4(b) hereof, offer the remaining unsubscribed portion of such Shares to any person or persons at a
price not less than that, and upon terms no more favorable to the offeree than those, specified in the Notice. If the Company does not enter into an agreement for the sale of the Shares within such period, or if such agreement is not consummated
within seventy-five (75) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be offered unless first reoffered to the Investors in accordance herewith. 
  

 17 

 (d) The right of first offer in this Section 2.4 shall not be applicable to (i) the issuance
of Common Stock (or options therefor) to employees, directors, consultants and other service providers of this corporation for the primary purpose of soliciting or retaining their services pursuant to plans or agreements approved by the Board,
(ii) the issuance of securities pursuant to a Qualified Public Offering (as such term is defined in the Certificate), (iii) the issuance of securities pursuant to the conversion or exercise of convertible or exercisable securities
outstanding on the date hereof, (iv) the issuance of securities in connection with a bona fide business acquisition of or by the Company, whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise, that is approved
by the Board, (v) the issuance of Common Stock and Series D Preferred Stock pursuant to Merger Agreement, as such agreement may be amended from time to time, or the issuance of Series E Preferred Stock as contemplated by or referred to in the
Merger Agreement, including the exhibits and schedules thereto, (vi) Common Stock issued to financial institutions, lessors, vendors and strategic partners in connection with commercial credit arrangements, equipment financings, commercial
property lease transactions or other transactions approved by the Board up to one percent (1%) of the then outstanding securities of the Company (assuming the exercise and conversion into shares of Common Stock of all then outstanding
exercisable and convertible securities of the Company), (vii) any Common Stock, Series D-1 Preferred Stock or Series E Preferred Stock issued or issuable to VantagePoint (as such term is defined in the Amended and Restated Voting Agreement
attached as an exhibit to the Merger Agreement (the “Voting Agreement”)) in connection with any equity or debt financing of the Company, up to $5,000,000, by VantagePoint pursuant to a commitment letter dated the date hereof between
VantagePoint and the Company’s senior lender, which financing is consummated after the date hereof but on or before December 31, 2008, and (viii) any securities issued in connection with any stock split, stock dividend or
recapitalization by the Company that affects all outstanding capital stock of the Company. In addition to the foregoing, the right of first offer in this Section 2.4 shall not be applicable with respect to any Investor in any subsequent
offering of Shares if (i) at the time of such offering, the Investor is not an “accredited investor,” as that term is then defined in Rule 501(a) of the Act and (ii) such offering of Shares is otherwise being
offered only to accredited investors. 
 (e) The rights provided in this Section 2.4 may not be assigned or transferred by any
Investor; provided, however, that (i) an Investor may assign or transfer such rights to any other entity which controls, is controlled by or is under common control with the Investor or any entity that is managed by the same joint management
company of the Investor or any entity that is the general partner or limited partner of the Investors and (ii) a Investor that is a venture capital fund may assign or transfer such rights to an affiliated venture capital fund. 
 (f) The covenants set forth in this Section 2.4 shall terminate and be of no further force or effect upon the consummation of (i) the
Company’s Qualified Public Offering (as such term is defined in the Certificate) or (ii) a Liquidation Event (as such term is defined in the Certificate). 
 2.5 Proprietary Information and Inventions Agreements. The Company shall require all employees to execute and deliver a Non-Disclosure and Invention Assignment Agreement in substantially the form approved by
the Board. 
  

 18 

 2.6 Employee Agreements. Unless otherwise approved by the Board, including the approval of at
least one VantagePoint Director (as such term is defined in the Voting Agreement, (i) all options to purchase shares of the Company’s Common Stock granted after the date hereof shall vest over a four-year period with the first 25% of such
shares vesting twelve (12) months following the date of grant and the remaining shares vesting in equal monthly installments over the following 36 months thereafter, and (ii) option agreements shall provide that the optionee shall have
ninety (90) days after termination of service to exercise any vested options. 
 2.7 Lock-Up of Future Securityholders. The
Company shall ensure that all future holders of the Company’s Preferred Stock are subject to a Market Stand-Off substantially similar to that set forth in Section 1.13 hereof. 
 2.8 D&O Insurance. The Company has as of the date hereof or shall, within ninety (90) days after the date hereof, obtain from
financially sound and reputable insurer(s) and maintain director and officer liability insurance in the aggregate amount of at least $5,000,000 (which amount may include any extended coverage remaining from the director and officer liability
insurance previously maintained by the Company as a public Company. In addition, immediately prior to any Initial Offering, the Company shall increase such coverage to at least $10,000,000. 
 2.9 Equal Board Treatment. Unless otherwise approved by the Board, including the approval of at least one VantagePoint Director affiliated with
VantagePoint, all non-employee members of the Board shall be accorded no less favorable treatment than any other member of the Board with respect to all matters, including, without limitation, expense reimbursement, stock options or grants, benefits
and access to Company information or management. Further, the Company shall reimburse all reasonable expenses incurred by each of the Company’s directors in connection with attending meetings of the Board. 
 2.10 Series C Preferred Stock Dividends. The Board of Directors of the Company shall not declare, and the Company shall not pay, any dividend on
the Company’s Series C Preferred Stock in shares of Series C Preferred Stock without the prior written approval of VantagePoint and, provided that Tony Mastronardi and Guy Nathan continue to own in the aggregate at least 6,000,000 shares of
such Common Stock, without the prior written approval of each of VantagePoint, Tony Mastronardi and Guy Nathan. 
 2.11 Termination of
Certain Covenants. The covenants set forth in Sections 2.4 through 2.10 shall terminate and be of no further force or effect (i) upon the consummation of the Company’s sale of its Common Stock or other securities pursuant to a
Qualified Public Offering, or (ii) upon a Liquidation Event; provided however, that the rights of VantagePoint shall terminate when VantagePoint holds less than 6,000,000 shares of Common Stock of the Company (assuming conversion of any
Preferred Stock held by VantagePoint and subject to adjustments for stock splits, stock dividends, recapitalizations and similar changes affecting the capital stock of the Company) and the rights of Tony Mastronardi and Guy Nathan provided pursuant
to Section 2.10 shall terminate when Tony Mastronardi and Guy Nathan in the aggregate hold less than 6,000,000 shares of Common Stock of the Company. 
  

 19 

 2.12 Protective Provision for Preferred Stock. So long as any shares of Series A Preferred Stock,
Series B Preferred Stock, Series C Preferred Stock or Series D Preferred Stock remain outstanding, the Company shall not, and shall not permit any direct or indirect subsidiary of the Company, to effect any transaction with an affiliate or a
stockholder of the Company, without first obtaining the approval of the holders of a majority of the then outstanding shares of all series of Preferred Stock (with such approval being obtained from such holders as a single group, on an as converted
to Common Stock basis); 
 2.13 Board Observer. 
 (a) So long as the Barfly Preferred Stockholders hold at least 5,000,000 shares of Series D Preferred Stock, the Holders of a majority of the Series D Preferred Stock shall have the right to nominate one
(1) Board observer (the “Board Observer”), who shall be one of the Barfly Stockholders or a representative of a Barfly Stockholder, and shall not be an employee of the Company or any of its subsidiaries. Subject to
Section 2.13(b), the Board Observer shall have the right to observe and attend meetings of the Board and to receive all notices, minutes, consents and all other materials provided to the members of the Board; provided that the Board
Observer executes a confidentiality agreement with the Company, in a form reasonably satisfactory to the Company. 
 (b) A majority of the
members of the Board present at a meeting of the Board shall have the right to exclude the Board Observer from portions of such meeting or to omit to provide the Board Observer with certain information if such members of the Board believe in good
faith, based on the advice of Company counsel, that such exclusion or omission is necessary in order to (a) preserve the Company’s attorney-client privilege, or (b) fulfill the Company’s obligations with respect to confidential
or proprietary information of third parties; provided, that the Board Observer shall not be so excluded unless all other persons whose receipt of such materials or presence at a meeting would result in a violation of such third party
confidentiality obligations are also excluded. In addition, a majority of the members of the Board shall have the right to exclude the Board Observer from portions of meetings of the Board or to omit to provide the Board Observer with certain
information if such meeting or information involves information or analysis which would pose a material conflict of interest for the Company with respect to the transactions contemplated by the Merger Agreement or otherwise. 
 3. Miscellaneous. 
 3.1 Successors
and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of
Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason
of this Agreement, except as expressly provided in this Agreement. 
 3.2 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, as applied to contracts made and performed within the State of New York, without regard to principles of conflicts of law. 
  

 20 

 3.3 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. 
 3.4 Titles and Subtitles. The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 3.5 Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified,
(ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective
parties at the addresses set forth on the signature pages attached hereto (or at such other addresses as shall be specified by notice given in accordance with this Section 3.5). 
 3.6 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be
entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 3.7 Entire Agreement; Amendments and Waivers. This Agreement (including the Exhibits and Schedules hereto, if any) constitutes the full and entire understanding and agreement among the parties with regard to
the subjects hereof and thereof and supersedes all prior agreements with regard to the subject matter hereof, including but not limited to the Shareholders Agreement. Any term of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities; provided however, that so long
as the White Rabbit Stockholders hold any Registrable Securities, no amendment, modification or waiver of any provision of this Agreement shall be made without the prior written consent of the White Rabbit Stockholders holding not less than a
majority of the Registrable Shares then held by the White Rabbit Stockholders and their permitted assigns under Section 1.11, if the effect of such amendment, modification or waiver would increase the obligation of the White Rabbit Stockholders
or such permitted assigns, or reduce or subordinate the rights of the White Rabbit Stockholders or such permitted assigns, in either case in a manner different from the effect on the other Holders of Registrable Securities. Any amendment or waiver
effected in accordance with this paragraph 3.7 shall be binding upon each holder of any Registrable Securities, each future holder of all such Registrable Securities, and the Company. Notwithstanding the foregoing, 
 (a) so long as VantagePoint continues to own at least 15,000,000 shares of Common Stock (assuming full conversion at the then effective conversion rate
of all shares of Preferred Stock owned by VantagePoint) subject to adjustment for stock splits, stock dividends, recapitalizations and similar changes affecting the capital stock of the Company, the provisions of Section 2.9 or 2.10 may be
amended and the observance of any term thereof may be waived only with the written consent of VantagePoint; 
  

 21 

 (b) so long as the beneficial owners of Techno Exprès, S.A. (Techno Exprès) who received
Common Stock from Techno Exprès pursuant to its distribution shares of Common Stock in April 2007 continue to own, in the aggregate, at least 6,000,000 shares of Common Stock, subject to adjustment for stock splits, stock dividends,
recapitalizations and similar changes affecting the capital stock of the Company, the provisions of Section 2.10 may be amended and the observance of any term thereof may be waived only with the written consent of such beneficial owners holding
a majority of the shares of the Common Stock that were subject to such distribution; and 
 (c) so long as the Barfly Preferred Stockholders
continue to own at least 5,000,000 shares of Common Stock (assuming full conversion at the then effective conversion rate of all shares of Preferred Stock owned by such stockholders) subject to adjustment for stock splits, stock dividends,
recapitalizations and similar changes affecting the capital stock of the Company, the provisions of Section 2.13 may be amended and the observance of any term thereof may be waived only with the written consent of the Barfly Preferred
Stockholders holding not less than a majority of the Registrable Shares then held by the Barfly Preferred Stockholders and their permitted assigns under Section 1.11. 
 3.8 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision(s) shall be
excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms. 
 3.9 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities (including affiliated venture capital
funds) or persons shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 
 3.10
Dispute Resolution. In the event of any dispute arising out of or relating to this Agreement, then such dispute shall be resolved solely and exclusively by confidential binding arbitration with the New York City branch of JAMS
(“JAMS”) to be governed by JAMS’ Commercial Rules of Arbitration applicable at the time of the commencement of the arbitration (the “JAMS Rules”) and heard before one arbitrator. The parties shall
attempt to mutually select the arbitrator. In the event they are unable to mutually agree, the arbitrator shall be selected by the procedures prescribed by the JAMS Rules. Each party shall bear its own attorneys’ fees, expert witness fees, and
costs incurred in connection with any arbitration. 
  

 22 

 3.11 Waiver of Jury Trial. 
 EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND AGREE TO THE ARBITRATION PROVISION CONTAINED IN SECTION 3.10. 
  

 23 

 IN WITNESS WHEREOF, the parties have executed this Investors’ Rights Agreement as of the date first
above written. 
  

			
	COMPANY:
	
	 TOUCHTUNES CORPORATION

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 Address:

	
	 TouchTunes Corporation
 740 Broadway, Suite 1102
 New York, New York 10003

  

 Signature Page to the Investors’ Rights Agreement 

			
	EXISTING PREFERRED STOCKHOLDERS:
	
	VANTAGEPOINT CDP PARTNERS, L.P.
		
	By:	 	VantagePoint CDP Associates, L.P.,
	By:	 	VantagePoint CDP Associates, L.L.C.
		 	Its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address:

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	McCOMBS FAMILY PARTNERS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Address:	 	 755 E. Mulberry Avenue, Suite 600
 San Antonio, TX
78212
 Fax: (210) 731-4740

	
	  

	JAMES C. (RAD) WEAVER
		
	Address:	 	 c/o McCombs Family Partners, Ltd.
 755 E. Mulberry
Avenue, Suite 600
 San Antonio, TX 78212
 Fax: (210) 731-4740

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	JOE F. STAFFORD
		
	Address:	 	 4309 Rio Robles Drive
 Austin, TX 78746
 Fax: (512) 532-6655

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	DAVID A. SPENCER
		
	Address:	 	 c/o Mandelbrot Ventures, Inc.
 12621 Silicon Drive,
Suite 100
 San Antonio, TX 78249
 Fax: (210)
340-0116

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	A. J. WAIGHT, JR.
		
	Address:	 	 3101 Bee Caves Road, Suite290
 Austin, TX
78746
 Fax: (512) 498-3500

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	THREE LEE INVESTMENTS LIMITED
		
	By:	 	QCO Ltd., its General Partner
		
	By:	 	  

			
		
	Print Name & Title:	 	  

			
		
	Address:	 	970 Isom Road
		 	 San Antonio, TX 78216
 Fax: (210)
804-4394

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	RICHARD S. HILL
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	D. KENT LANCE, JR.
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	RICHARD E. ANDERSON
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	BRUCE GRAHAM
		
	Address:	 	 678 Tennyson Avenue
 Palo Alto, CA 94301
 Fax: (650) 462-8415

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	HARVEY RING
		
	Address:	 	 66 Pascal Lane
 Austin, TX 78746
 Fax: (512) 328-9647

  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	J. BRUCE BUGG, JR.
		
	Address:	 	 P.O. Box 90837
 San Antonio, TX 78209
 Fax: (210) 930-5160 (this is the number
 to coordinate fax with his assistant)

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	JAMES E. POPE
		
	Address:	 	 3322 Quam Drive
 Stoughton, WI 53589
 Fax: (608) 242-2509

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	KENTON C. MURPHY
		
	Address:	 	 18641 Withey Road
 Monte Sereno, CA
95030

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY PREFERRED STOCKHOLDERS:
	
	  

	STEVEN G. MADERE
		
	Address:	 	 1903 Stamford Lane
 Austin, TX
78703

	
	  

	BILL LEAR
		
	Address:	 	  

		
		 	  

 Signature Page to the Investors’ Rights Agreement 

			
	BARFLY COMMON STOCKHOLDERS:
	
	  

	STEPHEN STRAUS
		
	Address:	 	 3700 Bridle Path
 Austin, TX
78703

	
	  

	BOB WEINSCHENK
		
	Address:	 	 4316 Rio Robles
 Austin, TX 78746

 Signature Page to the Investors’ Rights Agreement 

 Schedule A 
 Schedule of Existing Preferred Stockholders 
 VantagePoint CDP Partners, L.P. 

 Schedule B 
 Schedule of White Rabbit Stockholders 
 Kenneth Fedesna 
 Mark Loffredo 
 Edward Pellegrini 
 Edward Suchocki 
 Dante M. Federighi 
 William J. Federighi 
 Mark Lotus 

 Schedule C 
 Schedule of Barfly Common Stockholders 
 Bob Weinschenk 
 Stephen Straus 

 Schedule D 
 Schedule of Barfly Preferred Stockholders 
 Joe F Stafford 
 McCombs Family Partners, Ltd 
 A. J. Waight Jr. 
 James C. (Rad) Weaver 
 David A. Spencer 
 D. Kent Lance, Jr. 
 Richard S. Hill 
 J. Bruce Bugg, Jr. 
 Three Lee Investments Ltd (Steve Lee) 
 Bruce Graham 
 Richard E. Anderson (Dick Anderson) 
 Harvey Ring 
 Jim Pope 
 K.C. Murphy 
 Steve Madere 
 Bill Lear 

 EXHIBIT C 
 AMENDED AND RESTATED FIRST REFUSAL AND CO-SALE AGREEMENT 
 This AMENDED AND RESTATED FIRST REFUSAL
AND CO-SALE AGREEMENT (the “Agreement”) is made as of the [    ] day of September, 2008, by and among TouchTunes Corporation, a Delaware corporation (the “Company”), the holders of the
Company’s capital stock listed on the Schedule of Existing Stockholders attached as Schedule A hereto (the “Existing Stockholders”), and the holders of the Company’s capital stock listed on the Schedule of New
Stockholders attached as Schedule B hereto (the “Barfly Stockholders” and, together with the Existing Stockholders, the “Stockholders”). The Company and the Stockholders are individually referred to herein as
a “Party” and are collectively referred to herein as the “Parties.” 
 W I T N E S S E T H: 
 WHEREAS, the Company and the Existing Stockholders are parties to the First Refusal and Co-Sale Agreement, dated as of November 9, 2006, as
amended by Amendment No. 1, dated as of December 6, 2007 (the “First Refusal and Co-Sale Agreement”); 
 WHEREAS, pursuant to Section 10 of the First Refusal and Co-Sale Agreement, such agreement may be amended by the Company and VantagePoint, as the holder of a majority of the shares of Common Stock (including Common Stock
issuable or issued upon conversion of Preferred Stock); 
 WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of
August 26, 2008 (the “Merger Agreement”), between, among others, the Company and National Broadcast Media Corp., doing business as Barfly Interactive Networks (“Barfly”), it is a condition to the closing
under the Merger Agreement that the Barfly Stockholders become parties to this Agreement; 
 NOW, THEREFORE, in consideration of the
foregoing premises and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Definitions. 
 (a) Common Stock. For purposes of this Agreement, the term
“Common Stock” shall mean the common stock, par value $0.001, of the Company. 
 (b) Delivery. For purposes
of this Agreement, the term “Delivery” shall have the meaning set forth in Section 6 below. 
 (c) Equity
Securities. For purposes of this Agreement, the term “Equity Securities” shall mean any securities now or hereafter owned or held by a Stockholder (or a transferee in accordance with Section 2.4 herein), or any
securities evidencing an ownership interest in the Company, or any securities convertible into or exercisable for any shares of the foregoing. 

 (d) Holders. For purposes of this Agreement, the term “Holders” shall mean each
of the Stockholders or their respective affiliates or persons holding at least five percent (5%) of the Company’s issued and outstanding capital stock on a fully diluted basis (subject to appropriate adjustment for stock splits, stock
dividends, combinations or the like) or persons who have acquired shares from any such Stockholder or the transferees or assignees of any such Stockholder in accordance with the provisions of this Agreement. 
 (e) Preferred Stock. For purposes of this Agreement, the term “Preferred Stock” shall mean the Series A preferred stock,
par value $0.001, of the Company, the Series B preferred stock, par value $0.001, of the Company, the Series C preferred stock, par value $0.001, of the Company and the Series D preferred stock, par value $0.001, of the Company. 
 (f) Transfer. For purposes of this Agreement, the term “Transfer” shall include any sale, assignment, encumbrance,
hypothecation, pledge, conveyance in trust, gift, transfer by bequest, devise or descent, or other transfer or disposition of any kind, including, but not limited to, transfers pursuant to divorce or legal separation, transfers to receivers, levying
creditors, trustees or receivers in bankruptcy proceedings or general assignees for the benefit of creditors, whether voluntary, involuntarily or by operation of law, directly or indirectly, of any of the Equity Securities. 
 2. Agreements Among the Parties. 
 2.1
Rights of Refusal. 
 (a) Transfer Notice. If at any time a Stockholder proposes to Transfer Equity Securities (a
“Selling Holder”), then unless such transfer is excluded under Section 2.4, the Selling Holder shall promptly give the Company and each Holder written notice of the Selling Holder’s intention to make the Transfer
(the “Transfer Notice”). The Transfer Notice shall include (i) a description of the Equity Securities to be transferred (“Offered Shares”), (ii) the name(s) and address(es) of the prospective
transferee(s), (iii) the consideration and (iv) the material terms and conditions upon which the proposed Transfer is to be made. The Transfer Notice shall certify that the Selling Holder has received a firm offer from the prospective
transferee(s) and in good faith believes a binding agreement for the Transfer is obtainable on the terms set forth in the Transfer Notice. The Transfer Notice shall also include a copy of any written proposal, term sheet or letter of intent or other
agreement relating to the proposed Transfer. In the event that the transfer is being made pursuant to the provisions of Section 2.3, the Transfer Notice shall state under which specific subsection the Transfer is being made. 
 (b) Holders’ Right of First Refusal. (i) Each Holder shall have an option for a period of ten (10) days from the Delivery of the
Transfer Notice as described in Section 2.1(a) to elect to purchase all or any portion of its respective pro rata share of the Offered Shares at the same price and subject to the same material terms and conditions as described in the Transfer
Notice. Each Holder may exercise such purchase option and purchase all or any portion of his, her or its pro rata share of the Offered Shares (a “Participating Holder”), by notifying the Selling Holder and the Company in writing,
before expiration of the ten (10) day period as to the number of such shares that he, she or it wishes to purchase (the “Participating 

  

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Holder Notice”). Each Holder’s pro rata share of the Offered Shares shall be a fraction of the Offered Shares, the numerator of which shall
be the number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) owned by such Holder on the date of the Transfer Notice and denominator of which shall be the total number of shares of Common
Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) held by all Holders on the date of the Transfer Notice. 
 (ii) This is hidden text do not erase In the event any Holder elects not to purchase its pro rata share of the Offered Shares available pursuant to its option under subsection 2.1(b)(i) within the time period set forth
therein, then the Selling Holder shall promptly give written notice (the “Overallotment Notice”) to each Participating Holder, which notice shall set forth the aggregate number of Offered Shares that the other Holders have not
elected to purchase, and shall offer the Participating Holders the right to acquire the unsubscribed shares. Each Participating Holder shall have five (5) days after Delivery of the Overallotment Notice to deliver a written notice to the
Selling Holder (the “Participating Holders Overallotment Notice”) of its election to purchase its pro rata share of the unsubscribed shares on the same terms and conditions as set forth in the Transfer Notice and indicating
the maximum number of the unsubscribed shares that it will purchase in the event that any other Participating Holder elects not to purchase its pro rata share of the unsubscribed shares. For purposes of this Section 2.1(b)(ii), the numerator
shall be the same as that used in Section 2.1(b)(i) above and the denominator shall be the total number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) owned by all Participating Holders
on the date of the Transfer Notice. Each Participating Holder shall be entitled to apportion Offered Shares to be purchased among its partners and affiliates (including in the case of a venture capital fund other venture capital funds affiliated
with such fund), provided that such Participating Holder notifies the Selling Holder of such allocation. If the Holders fail to purchase all of the Offered Shares by exercising the option granted in this Section 2.1(b) within the period
provided, the remaining Offered Shares shall be subject to the options granted to the Company pursuant to subsection 2.1(d). 
 (c)
Additional Transfer Notice. Subject to the Holders’ option set forth in Section 2.1(b), if at any time the Selling Holder proposes a Transfer, then, within five (5) days after the Holders have declined to purchase all, or a
portion, of the Offered Shares or the Holders’ option to so purchase the Offered Shares has expired, the Selling Holder shall give the Company an “Additional Transfer Notice” that shall include all of the information and
certifications required in a Transfer Notice and shall additionally identify the Offered Shares that the Holders have declined to purchase (the “Remaining Shares”) and briefly describe the Company’s rights of first
refusal with respect to the proposed Transfer. 
 (d) Company’s Right of First Refusal. (i) The Company shall have an
option for a period of ten (10) days from Delivery of the Additional Transfer Notice to elect, by the approval of its Board of Directors, to purchase all (and not less than all) of the Remaining Shares at the same price and subject to the same
material terms and conditions as described in the Additional Transfer Notice. The Company may exercise such purchase option and purchase all of the Offered Shares by notifying the Selling Holder in writing before expiration of such ten (10) day
period. If the Company gives the Selling Holder notice that it desires to purchase such shares, then payment for the Remaining Shares shall be by certified check or wire transfer, 

  

 3 

 
against delivery of the Remaining Shares to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor, which
shall be no later than thirty (30) days after Delivery to the Company of the Additional Transfer Notice, unless the Additional Transfer Notice contemplated a later closing with the prospective third-party transferee(s) or unless the value of
the purchase price has not yet been established pursuant to Section 2.1(e)(ii), below. 
 (e) Payment. (i) The
Participating Holders shall effect the purchase of all the Remaining Shares with payment by certified check or wire transfer, against delivery of the Offered Shares to be purchased at a place agreed upon between the parties and at the time of the
scheduled closing therefor, which shall be no later than forty-five (45) days after Delivery to the Holders of the Transfer Notice, unless the Transfer Notice contemplated a later closing with the prospective third-party transferee(s) or unless
the value of the purchase price has not yet been established pursuant to Section 2.1(e)(ii), below. 
 (ii) This is hidden text
Should the purchase price specified in the Transfer Notice or Additional Transfer Notice be payable in property other than cash or evidences of indebtedness, the Company and the Participating Holders shall have the right to pay the purchase
price in the form of cash equal in amount to the fair market value of such property. If the Selling Holder and the Company or Participating Holders cannot agree on such cash value within ten (10) days after Delivery to the Holders of the
Transfer Notice (or Delivery of the Additional Transfer Notice to the Company), the valuation shall be made by an appraiser of recognized standing selected by the Selling Holder and the Company or the Participating Holders or, if they cannot agree
on an appraiser within twenty (20) days after Delivery to the Holders of the Transfer Notice (or Delivery of the Additional Transfer Notice to the Company), each shall select an appraiser of recognized standing and those appraisers shall
designate a third appraiser of recognized standing, whose appraisal shall be determinative of such value. The cost of such appraisal shall be shared between the Selling Holder, the Company, and the Participating Holders, with half of the cost borne
by the Selling Holder and half the cost borne by the Participating Holders and the Company pro rata, as applicable, based on the number of shares such parties have expressed an interest in purchasing pursuant to this Section 2. Such appraisal
will bind the Selling Holder, the Company, and the Participating Holders. If the time for the closing of the Company’s purchase or the Participating Holders’ purchase has expired but the determination of the value of the purchase price has
not been finalized pursuant to this section, then such closing shall be held on or prior to the fifth business day after such valuation shall have been made pursuant to this subsection. 
 2.2 Rights of Co-Sale. (a) Each Holder (other than any Holder who is a Selling Holder) (a “Co-selling Holder”) that
notifies the Company and the Selling Holder in writing within ten (10) days after Delivery of a Transfer Notice referred to in Section 2.1(a) shall have the right to participate in such sale of Equity Securities (including, without
limitation, a sale of Equity Securities to a Holder or Holders pursuant to the Holders’ right of first refusal under Section 2.1(b)) on the same terms and conditions as specified in the Transfer Notice. Such Co-selling Holder’s notice
to the Company and the Selling Holder shall indicate the maximum number of shares of capital stock of the Company that the Co-selling Holder wishes to sell (pursuant to Section 2.2(b), below) under his, her or its right to participate. To the
extent one or more of the Holders exercise such right of participation in accordance with the terms and 

  

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conditions set forth below, the number of shares of Equity Securities that the Selling Holder may sell in the Transfer shall be correspondingly reduced.
Notwithstanding the foregoing, in no event shall a Co-selling Holder’s Transfer of Equity Securities pursuant to this Section 2.2 be deemed a Transfer to which the Company’s and the Holders’ rights of first refusal and co-sale
shall apply. Any Holder electing to participate in a Transfer pursuant to this Section 2.2 shall be deemed to have waived such Holder’s right of first refusal set forth in Section 2.1 with respect to the Transfer described in the
aforementioned Transfer Notice. 
 (b) Each Co-selling Holder may sell all or any part of that number of shares of capital stock of the
Company equal to the product obtained by multiplying (i) the aggregate number of shares of Equity Securities covered by the Transfer Notice that have not been subscribed for pursuant to Section 2.1 by (ii) a fraction, the numerator of
which is the number of shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) owned by the Co-selling Holder on the date of the Transfer Notice and the denominator of which is the total number of shares
of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock) owned by the Selling Holder and all of the Co-selling Holders on the date of the Transfer Notice. 
 (c) Each Co-selling Holder shall effect its participation in the sale by promptly delivering to the Selling Holder for transfer to the prospective
purchaser one or more certificates, properly endorsed for transfer to the purchaser, which represent: 
 (i) if the Offered Shares are shares
of Preferred Stock, the number of shares of Preferred Stock of the Company that such Co-selling Holder elects to sell; or 
 (ii) if the
Offered Shares are shares of Common Stock, that number of shares of Common Stock, or such number of shares of capital stock of the Company that are at such time convertible into the number of shares of Common Stock, that such Co-selling Holder
elects to sell; provided, however, that if the prospective third-party purchaser objects to the delivery of shares of capital stock of the Company in lieu of Common Stock, such Co-selling Holder shall convert such shares of capital stock of the
Company into Common Stock and deliver Common Stock as provided in this Section 2.2. The Company agrees to make any such conversion concurrent with the actual transfer of such shares to the purchaser and contingent on such transfer. 

(d) The stock certificate or certificates that the Co-selling Holder delivers to the selling Stockholder pursuant to Section 2.2(c) shall be
transferred to the prospective purchaser in consummation of the sale of the Equity Securities pursuant to the terms and conditions specified in the Transfer Notice, and the selling Stockholder shall concurrently therewith remit to such Co-selling
Holder that portion of the sale proceeds to which such Co-selling Holder is entitled by reason of its participation in such sale. To the extent that any prospective purchaser or purchasers prohibits such assignment or otherwise refuses to purchase
shares or other securities from a Co-selling Holder exercising its rights of co-sale hereunder, the Selling Holder shall not sell to such prospective purchaser or purchasers any Equity Securities unless and until, simultaneously with such sale, the
Selling Holder shall purchase such shares or other securities from such Co-selling Holder for the same consideration and on the same terms and conditions as the proposed transfer described in the Transfer Notice. 
  

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 2.3 Non-Exercise of Rights. To the extent that the Holders and the Company have not exercised
their rights to purchase all of the Offered Shares or Remaining Shares, as the case may be, within the time periods specified in Section 2.1, and the Holders have not exercised their rights to participate in the sale of the Offered Shares
within the time periods specified in Section 2.2, the Selling Holder shall have a period of ninety (90) days from the expiration of such rights in which to sell the Offered Shares upon terms and conditions (including the purchase price) no
more favorable than those specified in the Transfer Notice, to the third-party transferee(s) identified in the Transfer Notice. The third-party transferee(s) shall acquire the Offered Shares or Remaining Shares, as the case may be, free and clear of
subsequent rights of first refusal and co-sale rights under this Agreement. In the event Selling Holder does not consummate the sale or disposition of the Offered Shares or Remaining Shares, as the case may be, within the forty-five (45) day
period from the expiration of these rights, the Company’s first refusal rights and the Holders’ first refusal and co-sale rights shall continue to be applicable to any subsequent disposition of the Offered Shares or Remaining Shares, as
the case may be, by the Selling Holder until such right lapses in accordance with the terms of this Agreement. Furthermore, the exercise or non-exercise of the rights of the Company and Holders under this Section 2 to purchase Equity Securities
from the Selling Holder or participate in sales of Equity Securities by the Selling Holder shall not adversely affect their rights to make subsequent purchases from the Selling Holder of Equity Securities or subsequently participate in sales of
Equity Securities by the Selling Holder. 
 2.4 Limitations to Rights of Refusal and Co-Sale. Notwithstanding the provisions of
Section 2.1 and 2.2 of this Agreement, the first refusal and co-sale rights of the Holders and first refusal rights of the Company shall not apply to (a) in the case of a company, corporation or a partnership, the Transfer of Equity
Securities to any members, shareholders or partners thereof (a member, shareholder or partner of a company, corporation or partnership that is a stockholder of the Company is referred to as an “Indirect Stockholder”) or to any entity
controlled by, controlling or under common control with the transferor, (b) the Transfer of Equity Securities to any spouse or member of a Holder’s immediate family (as defined below), or to a custodian, trustee (including a trustee of a
voting trust), executor, or other fiduciary for the account of the Holder’s or an Indirect Stockholder’s spouse or members of the Holder’s immediate family, or to a trust for the Holder’s or Indirect Stockholder’s own self,
or a charitable remainder trust, or (c) any sale of Equity Securities to the public pursuant to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities Act of 1933, as amended;
provided, however, that in the event of any transfer made pursuant to one of the exemptions provided by clauses (a), (b), or (c) the transferring Holder shall inform all other Holders and the Company in writing of such Transfer prior to
effecting it and (ii) each such transferee or assignee, prior to the completion of the Transfer, shall have executed documents assuming the obligations of the transferring Holder under this Agreement with respect to the transferred Equity
Securities. Except with respect to the Equity Securities transferred under clause (c) above (which Equity Securities shall no longer be subject to the first refusal rights of the Company and first refusal rights of the Holders), such
transferred Equity Securities shall remain “Equity Securities” hereunder, and such pledgee, transferee or donee shall be treated as a “Holder” for purposes of this Agreement. For purposes of this Section 2.4,
“Holder’s immediate family” shall include any spouse, father, mother, sibling, lineal descendant of spouse or lineal descendant of the Holder or of an Indirect Stockholder. 
  

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 2.5 Prohibited Transfers. Any sale, assignment, transfer, pledge, hypothecation or other
encumbrance or disposition of Equity Securities not made in conformance with this Agreement shall be null and void, shall not be recorded on the books of the Company and shall not be recognized by the Company. 
 (a) In the event a Stockholder should sell any Equity Securities in contravention of the co-sale rights of the Holders under Section 2.2 (a
“Prohibited Transfer”), the Holders, in addition to such other remedies as may be available at law, in equity or hereunder, shall have the put option provided below under subsection (b), and the Stockholder shall be bound by
the applicable provisions of such option. 
 (b) In the event of a Prohibited Transfer, each Holder shall have the right to sell to the
Stockholder the type and number of shares of Equity Securities equal to the number of shares each Holder would have been entitled to transfer to the third-party transferee(s) under Section 2.2 hereof had the Prohibited Transfer been effected
pursuant to and in compliance with the terms hereof. Such sale shall be made on the following terms and conditions: 
 (i) The price per
share at which the shares are to be sold to the Stockholder shall be equal to the price per share paid by the third-party transferee(s) to the Stockholder in the Prohibited Transfer. The Stockholder shall also reimburse each Holder for any and all
fees and expenses, including legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Holder’s rights under Section 2.2. 
 (ii) Within ninety (90) days after the later of the date on which the Holder (A) receives notice of the Prohibited Transfer or (B) otherwise becomes aware of the Prohibited Transfer, each Holder shall,
if exercising the option created hereby, deliver to the Stockholder the certificate or certificates representing shares to be sold, each certificate to be properly endorsed for transfer. 
 (iii) The Stockholder shall, upon receipt of the certificate or certificates for the shares to be sold by a Holder pursuant to this Section 2.5,
pay the aggregate purchase price therefor and the amount of reimbursable fees and expenses, as specified in subparagraph 2.5(b)(i), in cash or by other means acceptable to the Holder. 
 3. Assignments and Transfers; No Third-Party Beneficiaries. This Agreement and the rights and obligations of the parties hereunder shall inure to
the benefit of, and be binding upon, their respective successors, assigns and legal representatives, but shall not otherwise be for the benefit of any third party. The rights of the Holders hereunder are only assignable (i) to any other Holder,
(ii) to a partner, member or affiliate of such Holder (including, without limitation, affiliated venture capital funds of which such Holder is a partner or member) or (iii) to an assignee or transferee who acquires all of the Equity
Securities held by a particular Holder or at least 15,000,000 shares of Common Stock (including shares of Common Stock issuable upon conversion of Preferred Stock). 
 4. Legend. Each existing or replacement certificate for shares now owned or hereafter acquired by the Stockholders shall bear the following legend upon its face: 
 “THE SALE, PLEDGE, HYPOTHECATION, ASSIGNMENT OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF
A CERTAIN FIRST REFUSAL AND CO-SALE AGREEMENT BY AND BETWEEN THE STOCKHOLDER, THE CORPORATION AND CERTAIN HOLDERS OF STOCK OF THE CORPORATION. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION.”

  

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 5. Effect of Change in Company’s Capital Structure. If, from time to time, the Company pays a
stock dividend or effects a stock split or other change in the character or amount of any of the outstanding stock of the Company, then in such event any and all new, substituted or additional securities to which a Stockholder is entitled by reason
of such Stockholder’s ownership of Equity Securities shall be immediately subject to the rights and obligations set forth in this Agreement with the same force and effect as the stock subject to such rights immediately before such event.

 6. Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively
given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with
written verification of receipt. The occurrence of the events set forth in subsections (i) through (iv) above shall constitute “Delivery” of notice. All communications shall be sent to the respective parties at the addresses set
forth on the signature pages attached hereto (or at such other addresses as shall be specified by notice given in accordance with this Section 6). 
 7. Further Instruments and Actions. The Parties agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. Each Party
agrees to cooperate affirmatively with each other Party, and to the extent reasonably requested by any such Party, to enforce rights and obligations pursuant hereto. 
 8. Term. This Agreement shall terminate and be of no further force or effect upon (a) the consummation of the Company’s sale of its Common Stock or other securities pursuant to a registration
statement under the Securities Act of 1933, as amended (other than a registration statement relating either to sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145
transaction), or (b) the consummation of a Liquidation Event, as that term is defined in the Company’s Certificate of Incorporation (as amended from time to time). 
 9. Entire Agreement. This Agreement contains the entire understanding of the parties hereto with respect to the subject matter hereof and
supersedes any other prior agreements between the parties hereto with respect to the subject matter hereof. 
  

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 10. Amendments and Waivers. Any term of this Agreement may be amended and the observance of any
term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the Stockholders holding at least a majority of the Common Stock
(including Common Stock issuable or issued upon conversion of Preferred Stock). Notwithstanding the foregoing, in the event that such amendment or waiver adversely affects the obligations or rights of certain Stockholders under this Agreement in a
different manner than the other Stockholders who have the same rights, such amendment or waiver shall also require the written consent of such adversely affected Stockholders. Any amendment or waiver effected in accordance with this Section 10
shall be binding upon all Holders and their respective successors and assigns. 
 11. Governing Law. This Agreement shall be
interpreted under the laws of the State of New York without reference to New York conflicts of law provisions. 
 12. Severability. If
one or more provisions of this Agreement is held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be
enforceable in accordance with its terms. 
 13. Attorney’s Fees. In the event that any dispute among the parties to this
Agreement should result in litigation, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement,
including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 
 14. Aggregation of Stock. For the purposes of determining the availability of any rights under this Agreement, the holdings of any transferee and
assignee of an individual or a partnership who is a spouse, ancestor, lineal descendant or siblings of such individual or partners or retired partners of such partnership or affiliates of such partnership (including spouses and ancestors, lineal
descendants and siblings of such partners or spouses who acquire Common Stock by gift, will or intestate succession) shall be aggregated together with the individual or partnership, as the case may be, for the purpose of exercising any rights or
taking any action under this Agreement. 
 15. Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 16. Dispute Resolution. In the
event of any dispute arising out of or relating to this Agreement, then such dispute shall be resolved solely and exclusively by confidential binding arbitration with the New York City branch of JAMS (“JAMS”) to be governed by
JAMS’ Commercial Rules of Arbitration applicable at the time of the commencement of the arbitration (the “JAMS Rules”) and heard before one arbitrator. The parties shall attempt to mutually select the arbitrator. In the
event they are unable to mutually agree, the arbitrator shall be selected by the procedures prescribed by the JAMS Rules. Each party shall bear its own attorneys’ fees, expert witness fees, and costs incurred in connection with any arbitration.

  

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 17. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND AGREE TO THE ARBITRATION PROVISION CONTAINED IN SECTION 16. 
 {Remainder of Page Intentionally Blank — Signature Pages Immediately Follow} 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated First Refusal and
Co-Sale Agreement as of the date first written above. 
  

			
	COMPANY:
	
	TOUCHTUNES CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address:
	
	 TouchTunes Corporation
 740 Broadway, Suite
1102
 New York, New York 10003

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	VANTAGEPOINT CDP PARTNERS, L.P.
		
	By:	 	VantagePoint CDP Associates, L.P.,
	By:	 	VantagePoint CDP Associates, L.L.C.
	Its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address:

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	McCOMBS FAMILY PARTNERS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Address:	 	 755 E. Mulberry Avenue, Suite 600
 San Antonio, TX
78212
 Fax: (210) 731-4740

	
	  

	JAMES C. (RAD) WEAVER
		
	Address:	 	 c/o McCombs Family Partners, Ltd.
 755 E. Mulberry
Avenue, Suite 600
 San Antonio, TX 78212
 Fax: (210) 731-4740

  

 S-1 

			
	EXISTING STOCKHOLDERS:
	
	  

	JOE F. STAFFORD
		
	Address:	 	 4309 Rio Robles Drive
 Austin, TX 78746
 Fax: (512) 532-6655

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	DAVID A. SPENCER
		
	Address:	 	 c/o Mandelbrot Ventures, Inc.
 12621 Silicon Drive,
Suite 100
 San Antonio, TX 78249
 Fax: (210)
340-0116

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	A. J. WAIGHT, JR.
		
	Address:	 	 3101 Bee Caves Road, Suite290
 Austin, TX
78746
 Fax: (512) 498-3500

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	THREE LEE INVESTMENTS LIMITED
		
	By:	 	QCO Ltd., its General Partner
		
	By:	 	  

			
		
	Print Name & Title:	 	  

			
		
	Address:	 	970 Isom Road
		 	 San Antonio, TX 78216
 Fax: (210)
804-4394

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	RICHARD S. HILL
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	D. KENT LANCE, JR.
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	RICHARD E. ANDERSON
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	BRUCE GRAHAM
		
	Address:	 	 678 Tennyson Avenue
 Palo Alto, CA 94301
 Fax: (650) 462-8415

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	HARVEY RING
		
	Address:	 	 66 Pascal Lane
 Austin, TX 78746
 Fax: (512) 328-9647

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	J. BRUCE BUGG, JR.
		
	Address:	 	 P.O. Box 90837
 San Antonio, TX 78209
 Fax: (210) 930-5160 (this is the number to coordinate fax with his assistant)

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	JAMES E. POPE
		
	Address:	 	 3322 Quam Drive
 Stoughton, WI 53589
 Fax: (608) 242-2509

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	KENTON C. MURPHY
		
	Address:	 	 18641 Withey Road
 Monte Sereno, CA
95030

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

			
	EXISTING STOCKHOLDERS:
	
	  

	STEVEN G. MADERE
		
	Address:	 	 1903 Stamford Lane
 Austin, TX
78703

	
	  

	STEPHEN STRAUS
		
	Address:	 	 3700 Bridle Path
 Austin, TX
78703

	
	  

	BOB WEINSCHENK
		
	Address:	 	 4316 Rio Robles
 Austin, TX 78746

	
	  

	BILL LEAR
		
	Address:	 	  

		 	  

 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale
Agreement 

 SCHEDULE A 
 Schedule of Existing Stockholders 
 VantagePoint CDP Partners, L.P. 
 Signature Page to TouchTunes Corporation Amended and Restated First Refusal and Co-Sale Agreement 

 SCHEDULE B 
 Schedule of New Stockholders 
 Joe F. Stafford 
 McCombs Family Partners, Ltd 
 A. J. Waight Jr. 
 James C. (Rad) Weaver 
 David A. Spencer 
 D. Kent Lance, Jr. 
 Richard S. Hill 
 J. Bruce Bugg, Jr. 
 Three Lee Investments Ltd (Steve Lee) 
 Bruce Graham 
 Richard E. Anderson (Dick Anderson) 
 Harvey Ring 
 Jim Pope 
 K.C. Murphy 
 Steve Madere 
 Bill Lear 
 Bob Weinschenk 
 Stephen Straus 
  

 S-14 

 EXHIBIT D 
 AMENDED AND RESTATED VOTING AGREEMENT 
 This AMENDED AND RESTATED VOTING AGREEMENT (the
“Agreement”) is made and entered into as of September [    ], 2008, by and among TouchTunes Corporation, a Delaware corporation (the “Company”), the holders of the Company’s capital stock
listed on the Schedule of Existing Stockholders attached as Schedule A hereto (the “Existing Stockholders”), and the holders of the Company’s capital stock listed on the Schedule of New Stockholders attached as
Schedule B hereto (the “Barfly Stockholders” and, together with the Existing Stockholders, the “Stockholders”). The Company and the Stockholders are individually referred to herein as a
“Party” and are collectively referred to herein as the “Parties.” The Company’s Board of Directors is referred to herein as the “Board.” 
 WITNESSETH: 
 WHEREAS, the Company’s Amended and Restated
Certificate of Incorporation (the “Certificate”) provides that (a) holders of shares of Series C Preferred Stock, par value $0.001, of the Company (“Series C Preferred Stock”), voting together as a
class, shall elect four (4) members of the Board (the “Series C Directors”), and (b) holders of shares of common stock, $0.001, of the Company (the “Common Stock”) and holders of shares of
preferred stock, par value $0.001, of the Company (the “Preferred Stock”) voting together as a class and on an as converted to Common Stock basis, shall be entitled to elect any remaining members of the Board
(“Remaining Directors”); 
 WHEREAS, the Company and the Existing Stockholders are parties to a Voting
Agreement, dated as of November 9, 2006, as amended by Amendment No. 1 dated as of December 6, 2007 (the “Voting Agreement”); which provides for the election of the Board; 
 WHEREAS, pursuant to Section 16 of the Voting Agreement, such agreement can be amended by the Company and VantagePoint CDP Partners, L.P.
(“VantagePoint CDP”), as the holder of a majority of the shares of Common Stock (including Common Stock issuable or issued upon conversion of Preferred Stock); 
 WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of August 26, 2008 (the “Merger Agreement”), between,
among others, the Company and National Broadcast Media Corp., doing business as Barfly Interactive Networks (“Barfly”), it is a condition to the closing under the Merger Agreement that the Barfly Stockholders become parties to this
Agreement; 
 NOW, THEREFORE, in consideration of the foregoing premises and certain other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Agreement to Vote. Each of the
Stockholders hereby agrees to vote, whether at a regular or special meeting of the stockholders or by written consent, all shares of the capital stock of the Company now owned, held or hereafter acquired or received by him, her or it, or over which
he, she or it exercises voting control, in accordance with the provisions of this Agreement. 

 2. Board Size. The Stockholders shall vote at any regular or special meetings of stockholders (or
by written consent) such shares that they own (or as to which they have voting power) to ensure that the size of the Board shall be set at seven (7); provided, however, that such Board size may be subsequently increased or decreased pursuant to an
amendment of this Agreement in accordance with Section 16 hereof. 
 3. Election of Directors. 
 (a) In any election of directors of the Company to elect the Series C Directors, the Parties holding shares of Series C Stock shall each vote at any
regular or special meeting of stockholders (or by written consent) such number of shares of Series C Preferred Stock then owned by them (or as to which they then have voting power) as may be necessary to elect four (4) directors nominated by
VantagePoint CDP and its affiliates (collectively, “VantagePoint”) (at least one of whom shall not be affiliated with VantagePoint) for so long as VantagePoint owns at least fifty percent (50%) of the Common Stock issued or
issuable upon conversion of the Series C Preferred Stock purchased by VantagePoint pursuant to the Purchase Agreement assuming full conversion at the then effective conversion rate of all shares of Preferred Stock owned by VantagePoint. 

(b) In any election of the Remaining Directors, the Stockholders shall each vote at any regular or special meeting of stockholders (or by written
consent) such number of voting securities of the Company then owned by them (or as to which they then have voting power) as may be necessary to elect the Remaining Directors as follows: 
 i. The then current Chief Executive Officer of the Company (the “CEO Director”);  
 ii. One director nominated by Tony Mastronardi and Guy Nathan (the “Techno Exprès Director”), provided that Tony
Mastronardi and Guy Nathan own in the aggregate at least 6,000,000 shares of Common Stock; 
 iii. One person nominated and approved by a
majority of the members of the Board then in office pursuant to subsections 3(a), 3(b)(i) and 3(b)(ii) above, who is not affiliated with the Company or VantagePoint (the “Unaffiliated Director”). 
 For purposes of this Agreement, the words “affiliate” or “affiliated” shall mean, with respect to a Party,
(a) any entity who, directly or indirectly, is in control of, or controlled by, or is under common control with, such Party or (b) any natural person who is a director, officer or employee of (i) such Party, (ii) any subsidiary
or parent company of such Party or (iii) any entity described in clause (a) above. For the purposes of this definition, control of an entity shall mean the power, direct or indirect, (x) to vote more than 50% of the securities having
ordinary voting power for the election of directors of such entity, or (y) to direct or cause the direction of the management and policies of such entity whether by contract or otherwise. 
  

 2 

 4. Removal; Vacancies. Any director of the Company may be removed from the Board in the manner
allowed by law and the Certificate and the Company’s Bylaws. Each Stockholder agrees to vote all of his, her or its shares of capital stock of the Company having voting power (and any other such shares over which he, she or it exercises voting
control) for the removal of any director upon the request of the Party then entitled to nominate such director as set forth in Section 3 above, and for the election to the Board of a substitute designated by such Party in accordance with the
provisions hereof. Each Stockholder further agrees to vote all of his, her or its shares of capital stock of the Company having voting power (and any other such shares over which he, she or it exercises voting control) in such manner as shall be
necessary or appropriate to ensure that any vacancy on the Board occurring for any reason shall be filled only in accordance with the provisions of Section 3 above. 
 5. Bring Along Right. In the event that the holders of more than fifty percent (50%) of the outstanding shares of Preferred Stock in the Company (voting together as a single class on an as-converted to
Common Stock basis) approve either (i) an acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation) that would result
in the transfer of fifty percent (50%) or more of the outstanding voting power of the Company or in which the stockholders of the Company immediately prior to such transaction would own, as a result of such transaction, less than a majority of
the voting securities, in the same relative proportions, of the successor or surviving corporation immediately thereafter, (ii) a sale of all or substantially all of the assets of the Company, (such events described in subsections (i) and
(ii) are referred to herein as a “Sale of the Company”), then each Stockholder hereby agrees with respect to all securities of the Company which it own(s) or otherwise exercises voting or dispositive authority:

 (a) in the event such matter is to be brought to a vote at a stockholder meeting, after receiving proper notice of any meeting of
stockholders of the Company to vote on the approval of a Sale of the Company, to be present, in person or by proxy, as a holder of shares of voting securities, at all such meetings and be counted for the purposes of determining the presence of a
quorum at such meetings; 
 (b) to vote (in person, by proxy or by action by written consent, as applicable) all shares of the capital stock
of the Company as to which it has beneficial ownership in favor of all matters requiring the vote of the Company’s stockholders in connection with such Sale of the Company and in opposition of any and all other proposals that could reasonably
be expected to delay or impair the ability of the Company to consummate such Sale of the Company or Sale Event; 
 (c) to refrain from
exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to a Sale of the Company; 
 (d)
to execute and deliver all related documentation and take such other action in support of the Sale of the Company or Sale Event; and 
 (e)
except for this Voting Agreement, neither any of the parties hereto nor any affiliates thereof shall deposit any shares of capital stock beneficially owned by such Party or affiliate in a voting trust or subject any such shares of capital stock to
any arrangement or agreement with respect to the voting of such shares of capital stock. 
  

 3 

 (f) Notwithstanding the foregoing, with respect to a Sale of the Company, no Stockholder shall be
required to vote in the manner described by this Section 5 unless the net proceeds of such Sale of the Company are to be distributed to stockholders of the Company in accordance with the Certificate. 
 6. Legend on Share Certificates. Each certificate representing any Preferred Shares or Common Shares for shares now owned or hereafter acquired by
the Parties shall be endorsed by the Company with a legend reading substantially as follows: 
 “THE SHARES EVIDENCED HEREBY ARE SUBJECT
TO A VOTING AGREEMENT (A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE ISSUER), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF
SAID VOTING AGREEMENT.” 
 7. Covenants of the Company. The Company will not, by any voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of all such actions as may be
necessary, appropriate or reasonably requested by the holders of a majority of the outstanding voting securities held by the Parties hereto (assuming conversion of all outstanding securities) in order to protect the rights of the Parties hereunder
against impairment. 
 8. No Liability for Election of Recommended Directors. Neither the Company, the Stockholders, nor any officer,
director, stockholder, partner, employee or agent of any such Party, makes any representation or warranty as to the fitness or competence of the nominee of any Party hereunder to serve on the Board by virtue of such Party’s execution of this
Agreement or by the act of such Party in voting for such nominee pursuant to this Agreement. 
 9. Grant of Proxy. Upon the failure of
any Stockholder to vote its shares of capital stock in accordance with the terms of this Agreement, such Party hereby grants to the then current Secretary of the Company, a proxy coupled with an interest in all such shares of capital stock owned by
such Party, which proxy shall be irrevocable until this Agreement terminates pursuant to its terms or this Section 9 is amended to remove such grant of proxy in accordance with Section 16 hereof, to vote all such shares of capital stock in
the manner provided in Sections 2 and 3 hereof. 
 10. Specific Enforcement. It is agreed and understood that monetary damages would
not adequately compensate an injured Party for the breach of this Agreement by any other Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a
temporary or permanent injunction or restraining order. Further, each Party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 
  

 4 

 11. Execution by the Company. The Company, by its execution in the space provided below, agrees
that it will cause the certificates issued after the date hereof evidencing the shares of capital stock of the Company to bear the legend required by Section 6 hereof, and it shall supply, free of charge, a copy of this Agreement to any holder
of a certificate evidencing shares of capital stock of the Company upon written request from such holder to the Company at its principal office. The parties hereto do hereby agree that neither the failure to cause the certificates evidencing the
shares of capital stock of the Company to bear the legend required by Section 6 hereof nor the failure of the Company to supply, free of charge, a copy of this Agreement, as provided under this Section 11, shall affect the validity or
enforcement of this Agreement. 
 12. Captions. The captions, headings and arrangements used in this Agreement are for convenience
only and do not in any way limit or amplify the terms and provisions hereof. 
 13. Notices. All notices and other communications
given or made pursuant hereto shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours
of the recipient; if not, then on the next business day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages attached hereto (or at such other
addresses as shall be specified by notice given in accordance with this Section 13). 
 14. Term. This Agreement shall terminate
and be of no further force or effect upon the earlier to occur of (a) the consummation of the Company’s sale of its Common Stock or other securities pursuant to a registration statement under the Securities Act of 1933, as amended (other
than a registration statement relating either to sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction), (b) the consummation of a Liquidation Event, as that
term is defined in the Certificate (as amended from time to time) or (c) such time as the Stockholders (together with their respective affiliates) collectively own less than five percent (5%) of the outstanding voting stock of the Company
(assuming the exercise and conversion into shares of Common Stock of the Company of all outstanding exercisable and convertible securities), or (d) the date as of which the Parties terminate this Agreement in accordance with Section 16
hereof. 
 15. Manner of Voting. The voting of shares pursuant to this Agreement may be effected in person, by proxy, by written
consent or in any other manner permitted by applicable law. 
 16. Amendments and Waivers. Any term of this Agreement may be amended
and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the 

  

 5 

 
Company and the holders of a majority of the shares of Common Stock (on an as-converted basis) then held by the Stockholders or their successors or assigns.
Notwithstanding the foregoing, 
 (a) the provisions of Section 3(a) and the removal limitations set forth in Section 4 solely in
regard to Section 3(a) may be amended and the observance of any term thereof may be waived only with the written consent of VantagePoint. 
 (b) so long as the beneficial owners of Techno Exprès, S.A. (Techno Exprès) who received Common Stock from Techno Exprès pursuant to its distribution shares of Common Stock in April 2007 continue to own, in the
aggregate, at least 6,000,000 shares of Common Stock, subject to adjustment for stock splits, stock dividends, recapitalizations and similar changes affecting the capital stock of the Company, the provisions of Section 3(b)(i) and the removal
limitations set forth in Section 4 solely in regard to Section 3(b)(i) may be amended and the observance of any term thereof may be waived only with the written consent of such beneficial owners holding a majority of the shares of the
Common Stock that were subject to such distribution. 
 (c) Any amendment or waiver so effected in accordance this Section 16 shall be
binding upon all the Parties hereto. 
 17. Stock Splits, Stock Dividends, etc. In the event of any issuance of shares of the
Company’s voting securities hereafter to any of the Parties hereto (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization or the like), such shares shall become subject to this
Agreement and shall be endorsed with the legend set forth in Section 6. 
 18. Severability. Whenever possible, each provision of
this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 19. Binding Effect. In addition to any restriction on transfer that may be imposed by any other agreement by which any Party hereto may be bound, this Agreement shall be binding upon the Parties, their
respective heirs, successors, transferees and assigns and to such additional individuals or entities that may become stockholders of the Company and that desire to become Parties hereto; provided that for any such transfer to be deemed effective,
the transferee shall have executed and delivered an Adoption Agreement substantially in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by a transferee reasonably acceptable to the Company, such
transferee shall be deemed to be a Party hereto as if such transferee’s signature appeared on the signature pages hereto. By its execution hereof or any Adoption Agreement, each of the Parties hereto appoints the Company as its attorney-in-fact
for the purpose of executing any Adoption Agreement which may be required to be delivered hereunder. 
  

 6 

 20. Governing Law. This Agreement shall be governed by and construed in accordance with the laws
of the State of New York, without regard to conflicts of law principles thereof. 
 21. Entire Agreement. This Agreement is intended
to be the sole agreement of the Parties as it relates to the subject matter hereof and to supersede all other agreements of the Parties relating to the subject matter hereof. 
 22. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
 23. Dispute Resolution. In the event of any dispute arising out of or relating to
this Agreement, then such dispute shall be resolved solely and exclusively by confidential binding arbitration with the New York City branch of JAMS (“JAMS”) to be governed by JAMS’ Commercial Rules of Arbitration applicable at
the time of the commencement of the arbitration (the “JAMS Rules”) and heard before one arbitrator. The parties shall attempt to mutually select the arbitrator. In the event they are unable to mutually agree, the arbitrator
shall be selected by the procedures prescribed by the JAMS Rules. Each party shall bear its own attorneys’ fees, expert witness fees, and costs incurred in connection with any arbitration. 
 24. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING
OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, AND AGREE TO THE ARBITRATION PROVISION CONTAINED IN SECTION 23. 
  

 7 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

  

			
	COMPANY
	
	TOUCHTUNES CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Address:	 	
	
	 TouchTunes Corporation
 740 Broadway, Suite
1102
 New York, New York 10003

 Signature Page to Amended and Restated Voting Agreement 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

  

			
	EXISTING STOCKHOLDERS:
	
	VANTAGEPOINT CDP PARTNERS, L.P.
		
	By:	 	VantagePoint CDP Associates, L.P.,
	By:	 	VantagePoint CDP Associates, L.L.C.
	Its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Address:	 	

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	McCOMBS FAMILY PARTNERS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Address:	 	 755 E. Mulberry Avenue, Suite 600
 San Antonio, TX
78212
 Fax: (210) 731-4740

	
	  

	JAMES C. (RAD) WEAVER
		
	Address:	 	 c/o McCombs Family Partners, Ltd.
 755 E. Mulberry
Avenue, Suite 600
 San Antonio, TX 78212
 Fax: (210) 731-4740

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	JOE F. STAFFORD
		
	Address:	 	 4309 Rio Robles Drive
 Austin, TX 78746
 Fax: (512) 532-6655

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	DAVID A. SPENCER
		
	Address:	 	 c/o Mandelbrot Ventures, Inc.
 12621 Silicon Drive,
Suite 100
 San Antonio, TX 78249
 Fax: (210)
340-0116

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	A. J. WAIGHT, JR.
		
	Address:	 	 3101 Bee Caves Road, Suite290
 Austin, TX
78746
 Fax: (512) 498-3500

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	THREE LEE INVESTMENTS LIMITED
		
	By:	 	QCO Ltd., its General Partner
		
	By:	 	  

			
		
	Print Name & Title:	 	  

			
		
	Address:	 	970 Isom Road
		 	 San Antonio, TX 78216
 Fax: (210)
804-4394

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	RICHARD S. HILL
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	D. KENT LANCE, JR.
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

	
	  

	RICHARD E. ANDERSON
		
	Address:	 	c/o HPI
		 	 2800 Industrial Terrace
 Austin, TX 78758

Fax: (512) 835-1222

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	BRUCE GRAHAM
		
	Address:	 	 678 Tennyson Avenue
 Palo Alto, CA
94301

		 	Fax: (650) 462-8415

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	HARVEY RING
		
	Address:	 	 66 Pascal Lane
 Austin, TX 78746

		 	Fax: (512) 328-9647

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	J. BRUCE BUGG, JR.
		
	Address:	 	 P.O. Box 90837
 San Antonio, TX
78209

		 	 Fax: (210) 930-5160 (this is the number
 to coordinate
fax with his assistant)

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	JAMES E. POPE
		
	Address:	 	 3322 Quam Drive
 Stoughton, WI
53589

		 	Fax: (608) 242-2509

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	KENTON C. MURPHY
		
	Address:	 	 18641 Withey Road
 Monte Sereno, CA
95030

  

 Signature Page to Amended and Restated Voting Agreement 

			
	BARFLY STOCKHOLDERS:
	
	  

	STEVEN G. MADERE
		
	Address:	 	 1903 Stamford Lane
 Austin, TX
78703

	
	  

	STEPHEN STRAUS
		
	Address:	 	 3700 Bridle Path
 Austin, TX
78703

	
	  

	BOB WEINSCHENK
		
	Address:	 	 4316 Rio Robles
 Austin, TX 78746

	
	  

	BILL LEAR
		
	Address:	 	  

		 	  

  

 Signature Page to Amended and Restated Voting Agreement 

 SCHEDULE A 
 Schedule of Existing Stockholders 
 VantagePoint CDP Partners, L.P. 
  

 S-1 

 SCHEDULE B 
 Schedule of New Stockholders 
 Joe F Stafford 
 McCombs Family Partners, Ltd 
 A. J. Waight Jr. 
 James C. (Rad) Weaver 
 David A. Spencer 
 D. Kent Lance, Jr. 
 Richard S. Hill 
 J. Bruce Bugg, Jr. 
 Three Lee Investments Ltd (Steve Lee) 
 Bruce Graham 
 Richard E. Anderson (Dick Anderson) 
 Harvey Ring 
 Jim Pope 
 K.C. Murphy 
 Steve Madere 
 Bill Lear 
 Bob Weinschenk 
 Stephen Straus 
  

 A-1 

 EXHIBIT A 
 ADOPTION AGREEMENT 
 This Adoption Agreement (“Adoption Agreement”) is
executed by the undersigned (the “Transferee”) pursuant to the terms of that certain Amended and Restated Voting Agreement dated as of September     , 2008 (the “Agreement”) by and among the
Company and certain of its stockholders. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Transferee agrees as follows:

 (a) Acknowledgment. Transferee acknowledges that Transferee is acquiring certain shares of the capital stock of the Company (the
“Stock”), subject to the terms and conditions of the Agreement. 
 (b) Agreement. Transferee (i) agrees that
the Stock acquired by Transferee shall be bound by and subject to the terms of the Agreement, and (ii) hereby adopts the Agreement with the same force and effect as if Transferee were originally a Party thereto. 
 (c) Notice. Any notice required or permitted by the Agreement shall be given to Transferee at the address listed beside Transferee’s
signature below. 
 EXECUTED AND DATED this          day of
            , 20    . 
  

			
	TRANSFEREE:
		
	By:	 	  

		 	Name and Title

			
		
	Address:	 	  

			
	Fax:	 	  

  

			
	Accepted and Agreed:
	
	COMPANY
		
	By:	 	  

			
	Title:	 	  

  

 B-1 

 EXHIBIT E 
 THIS EMPLOYMENT AGREEMENT is entered into as of the [    ] day of September 2008. 
  

			
	BETWEEN:	  	TOUCHTUNES MUSIC CORPORATION, a Delaware corporation, with an office at 740 Broadway, Suite 1102, New York, New York;
		
		  	(hereinafter referred to as the “Corporation”)
		
	AND:	  	MR. ROBERT WEINSCHENK, residing at 4316
		  	Rio Robles Drive, Austin, TX 78746;
		
		  	(hereinafter referred to as the “Executive”)

 IT IS AGREED AS FOLLOWS: 
 WHEREAS the Corporation has entered into an Agreement and Plan of Merger, dated as of August 26, 2008 (the “Merger Agreement”), by and between the Corporation, National Broadcast
Media Corp., d/b/a Barfly Interactive Networks (“Barfly”), NMB Merger Sub, Inc., a wholly-owned subsidiary of the Corporation, and James C. Weaver as Shareholders’ Representative; 
 WHEREAS the Corporation wishes to employ Executive, and Executive wishes to be employed by the Corporation. 
 WHEREAS separate and apart from the Corporation’s employment of Executive, the Merger Agreement provides for the exchange of Executive’s
ownership interest in Barfly for an ownership interest in the Corporation; 
 NOW THEREFORE in consideration of the mutual covenants
and agreements here contained and for other good and valuable consideration, the parties hereto agree as follows: 
  

	1.	At Will Employment 

  

	 	1.1	The Corporation hereby agrees to employ Executive, and Executive hereby accepts employment with the Corporation, upon the terms set forth in this Agreement, on an
“at-will” basis. This Agreement shall not be construed as an agreement, either expressed or implied, to employ Executive for any stated term. The employment relationship shall be freely terminable for any reason by either party at any
time, subject to Section 9. This Agreement shall become effective on the date on which Executive’s employment with the Corporation begins, which the parties agree shall be [    ]. 

	2.	Duties 

  

	 	2.1.	The Corporation hereby confirms having agreed to engage Executive as a Senior Vice President of the Corporation for Barfly operations. Executive’s duties, responsibilities and
authority shall be substantially similar to his duties, responsibilities and authority for the operations of Barfly prior to the Merger (as such term is defined in the Merger Agreement), recognizing that his position and title, however, will be as a
Senior Vice President of the Corporation. In such capacity, Executive shall perform such duties and exercise such powers pertaining to such role for the Corporation and its affiliates as determined by the Board of Directors of the Corporation after
the Closing (as defined in the Merger Agreement). 

  

	 	2.2.	By his acceptance hereof, Executive agrees to devote substantially all of his working time, attention and skill to the Corporation and to make every reasonable effort necessary to
promote the success of the Corporation’s business and perform adequately the duties that are assigned to him. Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Corporation and any changes
therein which may be adopted from time to time by the Corporation. 

  

	3.	Reporting procedures 

  

	 	3.1.	Executive shall report directly to the President and Chief Executive Officer of the Corporation or such other person as designated by the Corporation from time to time.

  

	4.	Remuneration 

  

	 	4.1.	The annual base salary payable to Executive for his services hereunder shall be U.S. $275,000 exclusive of bonuses, benefits and other compensation. The Executive’s base salary
will be payable in periodic installments in accordance with the Corporation usual practice for its executives pursuant to the provisions of this Section 4, less any deductions or withholdings required by law. 

 The Corporation shall provide Executive with employee benefits comparable to those provided by the Corporation from time to time to other senior
executives of the Corporation. 
  

 2 

	5.	Bonus 

  

	 	5.1.	Executive shall be eligible to earn an annual bonus, with the target bonus equal to 50% of his base salary. Such bonus shall be prorated for 2008. Such bonus will be based upon the
achievement of performance objectives recommended by the President and Chief Executive Officer of the Corporation and approved by the compensation committee of the Corporation. Any such bonus shall be payable within the guidelines set by the
compensation committee of the Corporation. 

  

	6.	Vacation 

  

	 	6.1.	Executive shall be entitled to four (4) weeks of paid vacation per fiscal year of the Corporation. Should Executive decide not to or be unable because of his duties under this
Agreement to take all the vacation to which he is entitled in any fiscal year, Executive shall be entitled to take up to one (1) week of such vacation in the next following fiscal year. 

  

	7.	Expenses 

  

	 	7.1.	Executive shall be reimbursed for all reasonable travel and other out-of-pocket expenses incurred by Executive from time to time in connection with carrying out his duties
hereunder. For all such expenses, Executive shall furnish to the Corporation supporting evidence for expenses in respect of which Executive seeks reimbursement. 

  

	 	7.2.	The Corporation shall also reimburse Executive for reasonable cost of training and professional development. 

  

	 	7.3.	The Corporation shall provide Executive with adequate support and equipment to perform his duties. 

  

	8.	Termination 

  

	 	8.1.	This Agreement may be terminated, except for any continuing obligations hereunder set forth in Section 8.2: 

 a. At any time, for Cause, by written notice from the Corporation to Executive. For purposes of this Agreement, “Cause” means cause for
dismissal without either notice or payment in lieu of notice for reasons of fraud, embezzlement, gross negligence, willful and reckless disregard or gross dereliction of duty, incapacity or refusal to perform employment functions due to drug use or
alcohol addiction, conviction of a felony, or serious breach of duty not corrected within thirty (30) days of notice to that effect and discriminatory employment practices governed by statute. 
  

 3 

 b. At any time, for Good Reason, by written notice from Executive to the Corporation. For purposes of
this Agreement, “Good Reason” means if: 
 (i) the Corporation fails to pay Executive any compensation or benefits due under this
Agreement and such failure is not be remedied within ten (10) days after receipt of written notice from Executive specifying such failure; (ii) the Corporation materially breaches any other material provision of this Agreement and such
breach is not remedied within 30 days after receipt by the Corporation of written notice from Executive specifying such breach; (iii) the Corporation requires Executive to relocate his principal place of employment to a location that is more
than 25 miles from its current location; (iv) the Corporation reduces Executive’s base salary or (v) there is any diminution in Executive’s position, authority or duties. 
 c. Upon thirty (30) days’ notice in writing from Executive to the Corporation, specifying his intention to resign, in which event the
Corporation shall only be obliged to pay Executive his annual base salary hereunder for such remaining part of the period specified in the notice from Executive, other than accrued vacation and any other amounts or benefits to which Executive was
entitled as of and through the termination date, and the Corporation shall have no further obligations. 
 d. Immediately upon the death or
permanent disability of Executive. Executive shall be deemed to have become permanently disabled in the event of any mental incapacity or physical disability of such severity that Executive shall have been unable to attend to any normal duties with
the Corporation for more than nine (9) consecutive months in any year or for twelve (12) months out of any period of twenty-four (24) consecutive months during the employment period. 
  

	 	8.2.	In the event of termination of Executive’s employment by the Corporation without Cause or Executive’s termination for Good Reason, the Corporation shall, subject to the
Executive’s execution and delivery to the Corporation of a release and covenant not to sue in substantially the form attached hereto as Exhibit A, pay Executive, for a period of six (6) months after the date of termination of
Executive’s employment, Executive’s base salary as in effect on the date of termination, with such amount payable in accordance with normal and then current payroll practices of the Corporation. In the event of a termination of
Executive’s employment other than as set forth in the foregoing sentence, Executive shall not be entitled to any payments following termination, other than accrued salary, accrued vacation and any other amounts or benefits to which Executive
was entitled as of and through the termination date. 

  

	9.	Tax Considerations 

  

	 	9.1.	 This Agreement shall be deemed amended to the extent necessary to avoid imposition of any additional tax or accelerated income recognition prior to 

  

 4 

	 	 
actual payment to or receipt by Executive of amounts or benefits hereunder pursuant to Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”) and any temporary, proposed or final Treasury Regulations and guidance promulgated thereunder, and the parties agree to cooperate with each other and to take reasonably necessary steps in this regard; provided however
that no deemed amendment shall occur to the extent it would effect a material decrease in the value of benefits provided to Executive hereunder, in which case the parties shall cooperate in good faith to reform this Agreement both to preserve the
value of the benefits intended to be provided to Executive hereunder and to avoid imposition of any additional tax or accelerated income recognition as a result of application of Section 409A. However, nothing in this Agreement imposes on the
Corporation any liability of Executive under Section 409A. To the extent required by Section 409A, the reimbursement described in Sections 8 and 9 will not be paid later than December 31 of the second calendar year following the year
in which Executive terminates employment. 

  

	10.	Confidentiality 

  

	 	10.1.	Except to perform his duties under the Agreement, Executive shall not, directly or indirectly, without the specific prior written consent of the Corporation, at any time after the
date hereof, divulge to any business, enterprise, person, firm, corporation, partnership, association or other entity, or use for Executive’s own benefit, (i) any confidential information concerning the businesses, affairs, customers,
suppliers or clients of the Corporation Group, including, without limitation, any trade secret (process, plan, form, marketing strategy, etc.), all computer programs in any form (diskette, hard disk, tape, printed circuit, etc.), all access codes to
computer programs together with any plan, sketch, diagram, card, contract, bid, price list and client list relative to the Corporation Group’s business, or (ii) any non-public data or statistical information of the Corporation Group,
whether created or developed by the Corporation Group or on its behalf or with respect to which Executive may have knowledge or access (including, without limitation, any of the foregoing created or developed by Executive), it being the intent of
the Corporation Group and Executive to restrict Executive from disseminating or using any data or information that is at the time of such use or dissemination unpublished and not readily available or generally known to persons involved or engaged in
businesses of the type engaged in from time to time by the Corporation Group (the “Confidential Information”). For purposes of this Employment Agreement, Confidential Information shall not be deemed to include:

  

	 	a.	 Information that, at the time of disclosure under this Employment Agreement or during Executive’s employment, is in the public domain or that, after disclosure
under this Employment Agreement or 

  

 5 

	 	 
in connection with Executive’s employment, becomes part of the public domain by publication or otherwise through no action or fault of Executive or any
other party subject to an obligation of confidentiality; 

  

	 	b.	Information that Executive discloses to his legal counsel, tax advisor, or accountant (“Executive’s advisors”); provided Executive’s advisors agree to comply
with this Section 10; 

  

	 	c.	Information that the Corporation authorizes Executive to disclose in writing; or 

  

	 	d.	Information that Executive is required to disclose pursuant to a final court order; provided, that Executive has used reasonable efforts to advise the Corporation Group prior to the
issuance of such court order that Confidential Information has been requested to enable the Corporation Group an opportunity to contest prior to any such disclosure. 

 For purposes of this Agreement, “Corporation Group” means TouchTunes Corporation and its subsidiaries and affiliates. 
  

	 	10.2.	This undertaking to respect the confidentiality of the Confidential Information and to not make use of or disclose or discuss it to or with any person shall continue to have full
effect notwithstanding the termination of Executive’s employment with the Corporation for a period of two (2) years following the date of such termination. 

  

	11.	Non-solicitation 

  

	 	11.1.	Executive agrees that he shall not, during his employment and for a period of twelve (12) months following the termination of his employment, on his own behalf or on behalf of
any person, whether directly or indirectly, in any capacity whatsoever, alone, through or in connection with any person, employ, offer employment to or solicit the employment or the engagement of or otherwise entice away from the employment of the
Corporation Group, any individual who is employed by the Corporation Group at the time of the termination of Executive’s employment or who was employed by the Corporation Group in the six (6) month period preceding the termination of
Executive’s employment. 

  

	12.	Non-competition 

  

	 	12.1.	 Executive agrees that during the Employment Term and for a period of twelve (12) months after Executive ceases to be employed by the 

  

 6 

	 	 
Corporation, Executive shall not, directly or indirectly, for Executive’s own account or as an employee, officer, director, partner, joint venture,
shareholder, investor, consultant or otherwise (except as an investor in a corporation whose stock is publicly traded and in which Executive holds less than 5% of the outstanding shares) engage in (i) (a) computer, video, personal digital
assistant or cell phone interactive applications, (b) short message services (SMS) or point to point messaging services, or (c) digital signage or advertising and promotion, in the case of clause (a), (b) or (c), in (1) any
restaurant or bar establishment, or (2) any establishment within a specific sub-sector of the retail or entertainment industries if the Corporation Group installs one or more of its products in such sub-sector (“Covered
Establishments”), (ii) any business that develops, manufactures, or sells digital jukeboxes other than digital jukeboxes that utilize compact discs as the music source, (iii) any business that develops, manufactures, or sells to
Covered Establishments interactive video multi-game amusement-only entertainment devices (other than devices marketed for personal use at home and in other non-public places) located on countertops and operated with a touch screen that operate wired
or wirelessly, and directly or indirectly, accept payment via coins, paper money tokens, credit cards or other payment systems and may or may not be connected to a jukebox, or (iv) any other business or enterprise worldwide that competes with
the business of the Corporation Group or that competes with any proposed business of the Corporation Group for which the Corporation has developed specific plans and is actively pursuing such plans during Executive’s employment with
Corporation. 

  

	13.	Intellectual Property 

  

	 	13.1.	or the purposes of this Agreement, the term “Inventions” means ideas, designs, concepts, techniques, inventions and discoveries, whether or not patentable or
protectable by copyright and whether or not reduced to practice, including but not limited to devices, processes, drawings, works of authorship, computer programs, methods and formulas together with any improvement thereon or thereto, derivative
works therefrom and know-how related thereto made, developed or conceived by Executive while at the employment of the Corporation during working hours using the Corporation’s data or facilities and which relates to the Corporation’s areas
of business. 

  

	 	13.2.	 Executive shall assign and hereby does assign all Inventions to the Corporation. Executive shall disclose all Inventions in writing to the Corporation, shall assist
the Corporation in preparing patent or copyright applications for Inventions, and execute said applications and all other documents required to obtain patents or copyrights for those Inventions and/or to vest title thereto in the Corporation, at the
Corporation’s expense, 

  

 7 

	 	 
but for no additional consideration to Executive. In the event that the Corporation requires assistance under this Section after termination of employment,
Executive shall provide such assistance at the cost and expense of the Corporation. 

  

	 	13.3.	During the term of this Agreement or after termination, on request of the Corporation and at the cost and expense of the Corporation, Executive shall execute specific assignments in
favor of the Corporation or nominees of any of the Inventions covered by this Section, as well as execute all papers and perform all lawful acts that the Corporation considers reasonably necessary or advisable for the preparation, prosecution,
issuance, procurement and maintenance of patent or copyright applications and patents and copyrights for the Inventions, and for transfer of any interest Executive may have, and shall execute any and all papers and lawful documents required or
necessary to vest title in the Corporation or its nominee in the Inventions. 

  

	14.	Enforceability 

  

	 	14.1.	Executive hereby confirms and agrees that the covenants and restrictions pertaining to Executive contained in this Agreement, including, without limitation those contained in
Sections 11 to 15 hereof, are reasonable and valid. 

 Without limiting the remedies available to the Corporation, Executive
hereby expressly acknowledges and agrees that a breach of the covenants contained in Sections 11 to 15 may result in materially irreparable harm to the Corporation for which there is no adequate remedy at law; that it will not be possible to measure
damages for such injuries precisely, and that, in the event of such a breach, the Corporation shall be entitled to obtain any or all of a temporary restraining order and a preliminary or permanent injunction restraining Executive from engaging in
activities prohibited by the provisions of Sections 11 to 15 or such other relief as may be required to enforce specifically any of the covenants of Sections 11 to 15. Such proceedings shall not preclude the Corporation from claiming for damages
that it has suffered. 
  

	15.	Return of Materials 

  

	 	15.1.	 All files, forms, brochures, books, materials, written correspondence, memoranda, documents, manuals, computer disks, software products and lists (including lists
of customers, suppliers, products and prices) pertaining to the business of the Corporation Group or any of its associates that may come into the possession or control of Executive shall at all times remain the property of the Corporation Group or
associate, as the case may be. On termination of Executive’s employment for any reason, Executive agrees to 

  

 8 

	 	 
deliver promptly to the Corporation all such property of the Corporation Group in the possession of Executive or directly or indirectly under the control of
Executive. Executive agrees not to make for his personal or business use or that of any other party, reproductions or copies of any such property or other property of the Corporation Group. 

  

	16.	Withholding 

  

	 	16.1.	The Corporation may withhold from any amounts payable under this Agreement such federal, state or local taxes as may be required to be withheld pursuant to any applicable law or
regulation. 

  

	17.	Notices 

  

	 	17.1.	All notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered personally or sent by registered or certified mail,
postage prepaid, return receipt requested or sent by overnight courier to the person and address set forth under each party’s name in the signature page hereof, or at such other address as the party to whom notice is to be given may have
furnished to the other party in writing in accordance herewith. If such notice or communication is mailed, such communication shall be deemed to have been given on the fifth business day following the date on which such communication is posted.

  

	18.	Governing Law 

  

	 	18.1.	To the extent not preempted by United States federal law, the provisions of this Agreement shall be construed and enforced in accordance with the laws of the State of Texas,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this provision to the substantive law of another jurisdiction. 

  

	19.	Severability 

  

	 	19.1.	It is the desire and intent of the parties hereto that the provisions of this Agreement shall be enforced to the fullest extent permissible under the laws and public policies
applied in each jurisdiction in which enforcement is sought. Accordingly, although Executive and the Corporation consider the restrictions contained in this Agreement to be reasonable for the purpose of preserving the Corporation’s goodwill and
proprietary rights, if any particular provision of this Agreement shall be adjudicated to be invalid or unenforceable, such provision shall be deemed amended to delete therefrom the portion thus adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made. 

  

 9 

	20.	No assignment 

  

	 	20.1.	This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which, or into which, the
Corporation may be merged or which may succeed to the Corporation’s assets or business; provided, however, that the obligations of the Executive are personal and shall not be assigned by him. 

  

	21.	Survival of covenants 

  

	 	21.1.	Insofar as any of the obligations contained in this Agreement are capable of surviving termination of this Agreement they shall so survive and continue to the Parties
notwithstanding the termination of this Agreement for whatsoever reason. 

  

	22.	Complete understanding 

  

	 	22.1.	Once signed, this Agreement replaces all prior written and/or oral agreements between Executive and the Corporation with regard to Executive’s terms of employment with the
Corporation. This Agreement may not be modified orally, but only in an agreement in writing signed by both parties. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such
term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other
time or times. 

  

	 	22.2.	This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall
constitute one agreement. 

  

	23.	Legal advice 

  

	 	23.1.	Executive hereby represents and warrants to the Corporation and acknowledges and agrees that he had the opportunity to seek and was not prevented nor discouraged by the Corporation
from seeking independent legal advice prior to the execution and delivery of this Agreement and that, in the event that he did not avail himself of that opportunity prior to signing this Agreement, he did so voluntarily without any undue pressure
and agrees that his failure to obtain independent legal advice shall not be used by him as a defense to the enforcement of his obligations under this Agreement. 

  

 10 

 IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written. 

 

					
	TOUCHTUNES MUSIC CORPORATION
		
	By:	 	  

			
		 	Address:	 	740 Broadway, Suite 1102
		 		 	New York, New York 10003
	
	EXECUTIVE
		
		 	  

		 	Robert Weinschenk
			
		 	Address:	 	4316 Rio Robles Drive
		 		 	Austin, TX 78746

 Signature Page to Employment Agreement 

 TOUCHTUNES CORPORATION 
 SEPARATION AGREEMENT AND 
 GENERAL RELEASE AND WAIVER OF CLAIMS 
 In connection with the termination of the employment of Robert Weinschenk (“Executive”) with TouchTunes Corporation (the “Corporation”)
or any of its subsidiaries, including National Broadcast Media Corp., d/b/a Barfly Interactive Networks, and in exchange for the payment by the Corporation to Executive of certain severance amounts as provided below, Executive hereby provides
Corporation with the following general release and waiver of claims (this “Release and Waiver”) on this      day of             ,
20[    ]. 
 1. Executive General Release. Executive agrees that he has received payment in full of any and all
outstanding obligations owed to Executive by the Corporation and its current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, divisions, subsidiaries, and predecessor and successor
corporations and assigns (collectively, the “Releasees”). Executive hereby and forever discharges and releases the Corporation and all Releasees from any and all claims, damages, complaints, costs, expenses, charges, duties,
indemnities, obligations or causes of action of every kind and nature, in law, equity or otherwise, relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, disclosed or undisclosed, that Executive may
possess against the Corporation or any Releasee arising from any omissions, acts or facts that have occurred on or before the date hereof, including, without limitation: 
 (a) any and all claims relating to or arising from Executive’s employment with the Corporation or any of its subsidiaries, or the termination of that employment; 
 (b) any and all claims under the law of any jurisdiction, including, but not limited to, wrongful discharge of employment; constructive discharge from
employment; termination in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional
infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury;
assault; battery; invasion of privacy; false imprisonment; and conversion; 
 (c) any and all claims for violation of any federal, state or
municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act,
the Executive Retirement Income Security Act of 1974, The Worker Adjustment and Retraining Notification Act, and the Older Workers Benefit Protection Act; 
 (d) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 
 (e) any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the compensation received by Executive in consideration for this Release and
Waiver; and 
 (f) any and all claims for attorney fees and costs. 

 (g) except this General Release shall not apply to claims relating to or arising from, Executive’s
right to purchase, or actual purchase of, shares of stock of the Corporation or any of its subsidiaries, including, but not limited to, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state
corporate law, and securities fraud under any state of federal law; 
 The release set forth in this section shall be and remain in effect in
all respects as a complete general release as to the matters released. This release does not extend to any obligations that cannot be waived or released as a matter of law, or any obligations incurred or due under this Release and Waiver.

 2. Acknowledgement of Waiver of Claims Under ADEA. Executive acknowledges that he/she is waiving and releasing any rights Executive
may have under the Age Discrimination in Employment Act of 1967 (“ADEA Rights”) and that this waiver and release is knowing and voluntary. Executive acknowledges that the consideration given for this waiver and release is in
addition to anything of value to which Executive was already entitled. Executive further acknowledges that he/she has been advised that: 
 (a) Executive should consult with an attorney prior to executing this Release and Waiver; 
 (b) Executive has up to
twenty-one (21) days to consider the waiver of his/her ADEA Rights and to consult with counsel; 
 (c) Executive has seven days after
he/she has executed this Release and Waiver to revoke the release of his/her ADEA Rights (the “Revocation Period”); and 
 (d) nothing in this Release and Waiver prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs
for doing so, unless specifically authorized by federal law. 
 3. Confidentiality. Executive agrees to maintain in complete
confidence the existence of this Release and Waiver, the nature of the separation, the contents and terms of this Release and Waiver and the consideration for this Release and Waiver (hereinafter collectively referred to as “Separation
Information”). Except as required by law, Executive may disclose Separation Information only to his/her immediate family members, a Court in proceedings to enforce the terms of this Release and Waiver, Executive’s counsel, and
Executive’s accountant and any professional tax advisor to the extent that they need to know the Separation Information in order to provide advice on tax treatment or to prepare tax returns. Executive further acknowledges and confirms that
he/she will comply with his/her obligations with respect to the confidential and proprietary information of the Corporation and any of its subsidiaries that governed his/her employment. 
 4. Non-Disparagement. Executive agrees to refrain from any defamation, libel or slander of the Corporation or any Releasee. The Corporation shall
instruct its directors and executive officers to refrain from any defamation, libel or slander of the Executive. 
 5. Severability.
In the event that any provision in this Release and Waiver becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this Release and Waiver shall continue in full force and effect without said provision
so long as the remaining provisions remain intelligible and continue to reflect the original intent of the parties. 

 6. Voluntary Execution of Release and Waiver. Executive executes this Release and Waiver
voluntarily and with the full intent of releasing all claims, and without any duress or undue influence by the Corporation. Executive acknowledges that: 
 (a) Executive has carefully read this Release and Waiver and understands all of its terms and consequences and the full and final release of claims set forth above; 
 (b) Executive has had adequate time to consider the terms of this Release and Waiver and knowingly and voluntarily entered into it; 
 (c) Executive has not relied upon any representation or statement, written or oral, not set forth in this Release and Waiver; 
 (d) the only consideration for signing this Release and Waiver is as set forth herein; 
 (e) the consideration received for executing this Release and Waiver is greater than that to which Executive would have otherwise been entitled;

 (f) Executive was given the opportunity, and advised, to have this Release and Waiver reviewed by an attorney and tax advisor prior to
signing such document and has been represented in the preparation, negotiation, and execution of this Waiver and Release by legal counsel of his/her own choice or has voluntarily declined to seek such counsel; and 
 (g) Executive understands the legal and binding effect of this Release and Waiver. 
  

					
		 	TOUCHTUNES CORPORATION
		
		 	  

	Dated:                         	 	By:	 	
		 	Title:	 	
		
		 	EXECUTIVE
		
	Dated:                         	 	  

		 	Robert Weinschenk

 

 
 TouchTunes Cap Table post-Barfly acquisition 
 EXHIBIT F 
 Common (Existing) 
 New Common (Barfly) 
 No. of Series A Preferred 
 No. of Series A Preferred (as converted) 
 No. of Series B Preferred 
 No. of Series B Preferred (as converted) 
 No. of Series C Preferred 
 No. of Series C Preferred (as converted)

 No. of Series D Preferred (Barfly) 
 No. of Series D Preferred (as converted) Shares 
 Total 
 Percentage % 
 Existing Preferred Stockholders - - 9,235,774 27,707,322 8,888,889 40,000,000 30,824,558 30,824,558 
 -
98,531,880 60.8% 
 Barfly Shareholders - 7,596,168 - - - 7,498,814 7,498,814 15,094,982 9.3% 
 Existing Common Stockholders 18,321,125 - - - - 18,321,125 11.3% 
 ESOP - currently allocated 21,376,962 - - - - 21,376,962 13.2% 
 ESOP - currently unallocated 4,942,863 - - - - - 4,942,863 3.1% 
 Barfly ESOP 1,109,436 1,109,436 0.7% 
 Warrants 110,000 - - - 7,500,000 7,500,000 - 7,610,000 4.7% 
 Total 44,750,950 8,705,604 9,235,774
27,707,322 8,888,889 40,000,000 38,324,558 38,324,558 7,498,814 7,498,814 162,044,385 100.0% 
 27.6% 116.1% 123.2% 118.5%
511.1% 100.0% 
 Investment $12,500,000 $15,412,279 $27,912,279 
 LP multiple 1 1 
 Preference $$ $- $12,500,000 $15,412,279 $27,912,279 
 Pre-Acq value $180,012,707 $180,000,000

 Acq value $20,000,000 $20,000,000 
 Common 18,321,125 11.3% 
 Post Acq, Value $200,012,707 $200,000,000

 Options 21,376,962 13.2% 
 Total Fully Diluted (pre-Barfly) 145,839,967 
 Price per share
$1.234317 $1.234317 
 Pre-rounding Number of Barfly Shares 16,204,440 
 Pre-rounding Total Fully Diluted (post-Barfly) 162,044,407 
 Conversion Ratio 0.392252265 
 Barfly $20,000,000 
 No. of Shares to be Issued 
 Check 
 Series D Preferred Stock $9,255,267 7,498,292 4.627% 
 Common Stock $9,375,419 7,595,635 4.687% 
 No. of Option Shares $1,369,314 1,109,371 0.685% 
 $20,000,000 16,203,298
9.999% 1.234317 
 Actual Barfly Nos (with rounding) 
 Check 
 Conversion Ratio 0.392252265 10.00% 
 Total TT Option Pool (with Barfly)(Outstanding) 22,486,333 

Series D 7,498,814 
 Earn-Out (maximum) 1,636,811 
 Common 7,596,168 
 Total outstanding TT option (including Earn-Out) 24,123,144 
 Option 1,109,436 
 Remainder of TT Option Pool 2,196,681 
 16,204,418 
 Number of shares of Series E 20,254,122 
 At $180M 
 At $160M GS Warrant (2.5% of fully-diluted, including Earn-Out) 
 4,092,030 
 Exercise Price (for GS and VPVP warrant) $1.11 
 $1.10 [Denominator does not include Earn-Out Shares]

 EXHIBIT G 
 AMENDED AND RESTATED 
 CERTIFICATE OF INCORPORATION 
 OF 
 TOUCHTUNES HOLDING CORPORATION

 * * * * * 
 TouchTunes
Holding Corporation, a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the “DGCL”), for the purpose of amending and restating its certificate of incorporation (the
“Certificate of Incorporation”) pursuant to Sections 242 and 245 of the DGCL and in accordance with Sections 141(f) and 228 of the DGCL, does hereby certify as follows: 
 First. The name of the corporation is TouchTunes Holding Corporation. The Certificate of Incorporation was originally filed with the Secretary of State of
the State of Delaware on November 27, 2007, and amended on December 10, 2007. 
 Second. This Amended and Restated Certificate of
Incorporation was duly adopted by the board of directors and the stockholders of this corporation in accordance with Sections 141(f), 228, 242 and 245 of the Delaware General Corporation Law. 
 Third. The Certificate of Incorporation of this corporation is hereby amended and restated in its entirety as follows: 
 ARTICLE I 
 The name of this
corporation is hereby changed from “TouchTunes Holding Corporation” to “TouchTunes Corporation.” 
 ARTICLE II 

 The address of this corporation’s registered office in the State of Delaware is Corporation Service Company, 2711 Centerville Road, Suite 400, City
of Wilmington, County of New Castle, Delaware 19808. The name of this corporation’s registered agent at such address is Corporation Service Company. 
 ARTICLE III 
 The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or
activity for which corporations may be organized under the General Corporation Law. 
 ARTICLE IV 
 A. Authorization of Stock. This corporation is authorized to issue two classes of stock to be designated, respectively, common stock and preferred
stock. The total number of shares that this corporation is authorized to issue is 363,500,000. The total number of shares of common stock authorized to be issued is 250,500,000, par value $0.001 per share (the “Common Stock”). The total
number of shares of preferred stock authorized to be issued is 113,000,000 

 
shares of Preferred Stock, par value $0.001 per share (the “Preferred Stock”), of which 15,000,000 shares are designated as “Series A
Preferred Stock,” 10,000,000 shares are designated as “Series B Preferred Stock,” 48,000,000 shares are designated as “Series C Preferred Stock,” 8,000,000 shares are designated as “Series D Preferred Stock,”
7,000,000 shares are designated as “Series D-1 Preferred Stock” and 25,000,000 shares are designated as “Series E Preferred Stock.” 
 B. Rights, Preferences and Restrictions of Common Stock and Preferred Stock. The rights, preferences, privileges and restrictions granted to and imposed on the Preferred Stock are as set forth below in this
Article IV(B). 
 1. Dividend Provisions. 
 (a) The holders of shares of Series C Preferred Stock shall be entitled to receive dividends, out of any assets legally available therefor, prior and in preference to any declaration or payment of any dividend
(payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock of this corporation) on other Preferred Stock or Common Stock,
at a rate of 8% per annum of the Original Issue Price (as hereafter defined) of the Series C Preferred Stock, payable only if, as and when declared by the Board of Directors. Such dividends shall not be cumulative. The holders of the
outstanding Series C Preferred Stock can waive any dividend preference that such holders shall be entitled to receive under this Section 1 upon the affirmative vote or written consent of the holders of at least a majority of the shares of
Series C Preferred Stock then outstanding (voting together as a single class and not as separate series, and on an as-converted basis). 
 (b) After payment of any dividends required by subsection (a) of Section 1, any additional dividends or distributions shall be distributed among all holders of Common Stock and Preferred Stock in proportion to the number of shares
of Common Stock that would be held by each such holder if all shares of Preferred Stock were converted to Common Stock at the then effective conversion rate at the time such dividend or other distribution is declared. 
 2. Liquidation Preference. 
 (a) In
the event of any Liquidation Event (as defined below), either voluntary or involuntary, the holders of shares of Series C Preferred Stock, Series D Preferred Stock, Series D-1 Preferred Stock and Series E Preferred Stock shall be entitled to
receive, prior and in preference to any distribution of the proceeds of such Liquidation Event legally available for distribution (the “Proceeds”) to the holders of the Series A Preferred Stock, the holders of Series B Preferred Stock or
the holders of Common Stock by reason of their ownership thereof, an amount per share equal to the sum of the Original Issue Price of the Series C Preferred Stock, Series D Preferred Stock, Series D-1 Preferred Stock and Series E Preferred Stock, as
applicable, plus any declared but unpaid dividends on such shares. If, upon the occurrence of such event, the Proceeds thus distributed among the holders of Series C Preferred Stock, Series D Preferred Stock, Series D-1 Preferred Stock and Series E
Preferred Stock shall be insufficient to permit the payment to such holders of the full aforesaid preferential amount, then the entire Proceeds legally available for distribution shall be distributed ratably among the holders of Series E Preferred
Stock, Series 

  

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D-1 Preferred Stock, Series D Preferred Stock and Series C Preferred Stock in proportion to the full preferential amount that each such holder is otherwise
entitled to receive under this subsection (a). 
 (b) Upon completion of the distribution required by subsection (a) of this
Section 2, the holders of Series B Preferred Stock shall be entitled to receive, prior and in preference to any distribution of the Proceeds to the holders of the Series A Preferred Stock or the holders of Common Stock by reason of their
ownership thereof, an amount per share equal to the Original Issue Price for the Series B Preferred Stock plus any declared but unpaid dividends on such share. If, upon the occurrence of such event, the Proceeds thus distributed among the holders of
the Series B Preferred Stock shall be insufficient to permit the payment to such holders of the full aforesaid preferential amount, then the entire Proceeds legally available for distribution shall be distributed ratably among the holders of the
Series B Preferred Stock in proportion to the full preferential amount that each such holder is otherwise entitled to receive under this subsection (b). 
 (c) Upon completion of the distribution required by subsections (a) and (b) of this Section 2, all of the remaining Proceeds shall be distributed among the holders of Series A Preferred Stock, Series B
Preferred Stock, Series C Preferred Stock, Series E Preferred Stock and Common Stock pro rata based on the number of shares of Common Stock held by each (assuming full conversion at the then effective respective conversion rates of all Preferred
Stock). 
 (d) For purposes of this Certificate, “Original Issue Price” shall mean $1.50 per share for each share of Series A
Preferred Stock, $1.4062 per share for each share of Series B Preferred Stock, $0.50 per share for each share of Series C Preferred Stock, $1.234317 per share for each share of Series D Preferred Stock, $1.10 per share for each share of Series D-1
Preferred Stock and $1.234317 per share for each share of Series E Preferred Stock (each as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like with respect to such series of Preferred Stock
occurring after the date of filing of this Certificate). 
 (e) (i) For purposes of this Section 2, a “Liquidation
Event” shall include (A) the closing of the sale, transfer or other disposition of all or substantially all of this corporation’s assets, (B) the consummation of the merger or consolidation of this corporation with or into
another entity (except a merger or consolidation in which the holders of capital stock of this corporation immediately prior to such merger or consolidation continue to hold at least 50% of the voting power of the capital stock of this corporation
or the surviving or acquiring entity after such merger or consolidation) or (C) a liquidation, dissolution or winding up of this corporation; provided, however, that a transaction shall not constitute a Liquidation Event if its sole purpose is
to change the state of this corporation’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held this corporation’s securities immediately prior to such transaction.
Notwithstanding the prior sentence, the issuance of shares of Series D Preferred Stock, Series D-1 Preferred Stock and Series E Preferred Stock shall not be deemed a “Liquidation Event.” The treatment of any particular transaction or
series of related transactions as a Liquidation Event may be waived by the vote or written consent of the holders of a majority of the outstanding Preferred Stock (voting together as a single class and not as separate series, and on an as-converted
basis). 
  

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 (ii) In any Liquidation Event, if Proceeds received by this corporation or its stockholders is other
than cash, its value will be deemed its fair market value. Any securities shall be valued as follows: 
 (A) Securities not subject to an
investment letter or other similar restrictions on free marketability covered by (B) below: 
 (1) If traded on a securities exchange or
through the Nasdaq Global Market, the value shall be deemed to be the average of the closing prices of the securities on such exchange or system over the twenty (20) trading-day period ending three (3) trading days prior to the closing of
the Liquidation Event; 
 (2) If actively traded over-the-counter, the value shall be deemed to be the average of the closing bid or sale
prices (whichever is applicable) over the twenty (20) trading-day period ending three (3) trading days prior to the closing of the Liquidation Event; and 
 (3) If there is no active public market, the value shall be the fair market value thereof, as determined by the Board of Directors of this corporation in good faith. 
 (B) The method of valuation of securities subject to an investment letter or other restrictions on free marketability (other than restrictions arising
solely by virtue of a stockholder’s status as an affiliate or former affiliate) shall be to make an appropriate discount from the market value determined as above in (A) (1), (2) or (3) to reflect the approximate fair market
value thereof, as determined by the Board of Directors of this corporation in good faith and pursuant to the General Corporation Law, with the involvement of a third-party appraiser if a majority of the Board of Directors determines that such
involvement is necessary to address potential conflicts of interest. 
 (C) The foregoing methods for valuing non-cash consideration to be
distributed in connection with a Liquidation Event shall, upon approval by the stockholders of the definitive agreements governing a Liquidation Event, be superseded by any determination of such value set forth in the definitive agreements governing
such Liquidation Event. 
 (iii) In the event the requirements of this Section 2 are not complied with, this corporation shall
forthwith either: 
 (A) cause the closing of such Liquidation Event to be postponed until such time as the requirements of this
Section 2 have been complied with; or 
 (B) cancel such transaction, in which event the rights, preferences and privileges of the
holders of the Preferred Stock shall revert to and be the same as such rights, preferences and privileges existing immediately prior to the date of the first notice referred to in subsection 2(e)(iv) hereof. 
  

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 (iv) This corporation shall give each holder of record of Common Stock and Preferred Stock written
notice of such impending Liquidation Event not later than twenty (20) days prior to the stockholders’ meeting called to approve such transaction, or twenty (20) days prior to the closing of such transaction, whichever is earlier, and
shall also notify such holders in writing of the final approval of such transaction. The first of such notices shall describe the material terms and conditions of the impending transaction and the provisions of this Section 2, and this
corporation shall thereafter give such holders prompt notice of any material changes. The transaction shall in no event take place sooner than twenty (20) days after this corporation has given the first notice provided for herein or sooner than
ten (10) days after this corporation has given notice of any material changes provided for herein; provided, however, that subject to compliance with the General Corporation Law such periods may be shortened or waived upon the written consent
of the holders of Preferred Stock that represent a majority of the voting power of all then outstanding shares of Preferred Stock (voting together as a single class and not as separate series, and on an as-converted basis). 
 3. Redemption. The Preferred Stock is not redeemable. 
 4. Conversion. The holders of the Preferred Stock shall have conversion rights as follows (the “Conversion Rights”): 
 (a) Right to Convert. Each share of Preferred Stock shall be convertible, at the option of the holder thereof, at any time after the date of issuance of such share, at the office of this corporation or any
transfer agent for such stock, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the applicable Original Issue Price for such series of stock by the applicable Conversion Price for such series of
stock (the conversion rate for a series of Preferred Stock into Common Stock is referred to herein as the “Conversion Rate” for such series), determined as hereafter provided, in effect on the date the certificate is surrendered for
conversion. Upon the filing of this Certificate, the Series A Preferred Stock Conversion Price shall be $0.50, the Series B Preferred Stock Conversion Price shall be $0.3125 the Series C Preferred Stock Conversion Price shall be $0.50, the Series D
Preferred Stock Conversion Price shall be $1.234317, the Series D-1 Preferred Stock Conversion Price shall be $1.10 and the Series E Preferred Stock Conversion Price shall be $1.234317; provided, however, that the Conversion Price for each such
series of Preferred Stock shall be subject to adjustment as set forth in subsection 4(d). 
 (b) Automatic Conversion. Each share of
Preferred Stock shall automatically be converted into shares of Common Stock at the Conversion Rate at the time in effect for such series of Preferred Stock, immediately upon the earlier of (i) the closing of this corporation’s sale of its
Common Stock in a firm commitment underwritten public offering pursuant to a registration statement on Form S-1 under the Securities Act of 1933, as amended (the “Securities Act”), the public offering price of which represents a market
valuation of all this corporation’s outstanding stock of at least $250,000,000 and which offering generated in excess of $50,000,000 in aggregate gross proceeds (a “Qualified Public Offering”) or (ii) the date specified by
written consent or agreement of the holders of a majority of the then outstanding shares of Preferred Stock (voting together as a single class and not as separate series, and on an as-converted basis). Upon an automatic conversion pursuant to this
Section 4(b), all shares of Preferred Stock shall convert into shares of Common Stock. 
  

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 (c) Mechanics of Conversion. Before any holder of Preferred Stock shall be entitled to
voluntarily convert the same into shares of Common Stock, he or she shall surrender the certificate or certificates therefor, duly endorsed, at the office of this corporation or of any transfer agent for the capital stock of this corporation, and
shall give written notice to this corporation at its principal corporate office, of the election to convert the same and shall state therein the name or names in which the certificate or certificates for shares of Common Stock are to be issued. This
corporation shall, as soon as practicable thereafter, issue and deliver at such office to such holder of Preferred Stock, or to the nominee or nominees of such holder, a certificate or certificates for the number of shares of Common Stock to which
such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Preferred Stock to be converted, and the person or persons
entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock as of such date. If the conversion is in connection with an underwritten
offering of securities registered pursuant to the Securities Act, the conversion may, at the option of any holder tendering Preferred Stock for conversion, be conditioned upon the closing with the underwriters of the sale of securities pursuant to
such offering, in which event the persons entitled to receive the Common Stock upon conversion of the Preferred Stock shall not be deemed to have converted such Preferred Stock until immediately prior to the closing of such sale of securities. If
the conversion is in connection with the automatic conversion provisions of subsection 4(b)(ii) above, such conversion shall be deemed to have been made on the conversion date described in the stockholder consent approving such conversion, and the
persons entitled to receive shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holders of such shares of Common Stock as of such date. 
 (d) Conversion Price Adjustments of Preferred Stock for Certain Dilutive Issuances, Splits and Combinations. The Conversion Price of the
Preferred Stock shall be subject to adjustment from time to time as follows: 
 (i) (A) If this corporation shall issue, on or after the
date upon which this Certificate is accepted for filing by the Secretary of State of the State of Delaware (the “Filing Date”), any Additional Stock (as defined below) without consideration or for a consideration per share less than the
Conversion Price applicable to the Series D Preferred Stock and Series E Preferred Stock in effect immediately prior to the issuance of such Additional Stock, but greater than the Conversion Prices then in effect for the Series D-1 Preferred Stock
and the Series C Preferred Stock, the respective Conversion Prices for the Series D Preferred Stock and Series E Preferred Stock in effect immediately prior to each such issuance shall forthwith (except as otherwise provided in this subsection
4(d)(i)) be adjusted to a price determined by multiplying such Conversion Price by a fraction, the numerator of which shall be the sum of the number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such
issuance and the number of shares of Additional Stock that the aggregate consideration received by this corporation for such issuance would purchase at the Conversion Price applicable to the Series D Preferred Stock and Series E Preferred Stock; and
the denominator of which shall be the sum of the number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such issuance and the number of shares of such Additional Stock so issued. 
  

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 (B) If this corporation shall issue, on or after the Filing Date, any Additional Stock (as defined
below) without consideration or for a consideration per share less than the Conversion Price applicable to the Series D-1 Preferred Stock in effect immediately prior to the issuance of such Additional Stock, but greater than the Conversion Price
then in effect for the Series C Preferred Stock, the Conversion Price for the Series D-1 Preferred Stock in effect immediately prior to each such issuance shall forthwith (except as otherwise provided in this subsection 4(d)(i)) be adjusted to a
price determined by multiplying such Conversion Price by a fraction, the numerator of which shall be the sum of the number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such issuance and the number of
shares of Additional Stock that the aggregate consideration received by this corporation for such issuance would purchase at the Conversion Price applicable to the Series D-1 Preferred Stock; and the denominator of which shall be the sum of the
number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such issuance and the number of shares of such Additional Stock so issued. 
 (C) If this corporation shall issue, on or after the Filing Date, any Additional Stock (as defined below) without consideration or for a consideration
per share less than the Conversion Price applicable to the Series C Preferred Stock in effect immediately prior to the issuance of such Additional Stock, the respective Conversion Prices for the Series A Preferred Stock, Series B Preferred Stock and
Series C Preferred Stock in effect immediately prior to each such issuance shall forthwith (except as otherwise provided in this subsection 4(d)(i) be adjusted to a price determined by multiplying such Conversion Price by a fraction, the numerator
of which shall be the sum of the number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such issuance and the number of shares of Additional Stock that the aggregate consideration received by this corporation
for such issuance would purchase at the Conversion Price of the Series C Preferred Stock; and the denominator of which shall be the sum of the number of shares of Preferred Stock outstanding (on an as-converted basis) immediately prior to such
issuance and the number of shares of such Additional Stock so issued. 
 (ii) No adjustment of the relevant Conversion Prices for the
Preferred Stock shall be made in an amount less than one cent per share, provided that any adjustments that are not required to be made by reason of this sentence shall be carried forward and shall be either taken into account in any subsequent
adjustment made prior to three (3) years from the date of the event giving rise to the adjustment being carried forward, or shall be made at the end of three (3) years from the date of the event giving rise to the adjustment being carried
forward. Except to the limited extent provided for in subsections (E)(3) and (E)(4), no adjustment of such Conversion Prices pursuant to this subsection 4(d)(i) shall have the effect of increasing the relevant Conversion Price above the Conversion
Price in effect immediately prior to such adjustment. The provisions of this subsection 4(d)(i) shall be in effect until a Qualified Public Offering. 
 (iii) In the case of the issuance of Additional Stock for cash, the consideration shall be deemed to be the amount of cash paid therefor before deducting any reasonable discounts, commissions or other expenses
allowed, paid or incurred by this corporation for any underwriting or otherwise in connection with the issuance and sale thereof. 
  

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 (iv) In the case of the issuance of the Additional Stock for a consideration in whole or in part other
than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined by the Board of Directors irrespective of any accounting treatment. 
 (v) In the case of the issuance of options to purchase or rights to subscribe for Common Stock, securities by their terms convertible into or
exchangeable for Common Stock or options to purchase or rights to subscribe for such convertible or exchangeable securities, the following provisions shall apply for purposes of determining the number of shares of Additional Stock issued and the
consideration paid therefor: 
 (A) The aggregate maximum number of shares of Common Stock deliverable upon exercise (assuming the
satisfaction of any conditions to exercisability, including without limitation, the passage of time, but without taking into account potential antidilution adjustments) of such options to purchase or rights to subscribe for Common Stock shall be
deemed to have been issued at the time such options or rights were issued and for a consideration equal to the consideration (determined in the manner provided in subsections 4(d)(i)(C) and (d)(i)(D)), if any, received by this corporation upon the
issuance of such options or rights plus the minimum exercise price provided in such options or rights (without taking into account potential antidilution adjustments) for the Common Stock covered thereby. 
 (B) The aggregate maximum number of shares of Common Stock deliverable upon conversion of, or in exchange (assuming the satisfaction of any conditions
to convertibility or exchangeability, including, without limitation, the passage of time, but without taking into account potential antidilution adjustments) for, any such convertible or exchangeable securities or upon the exercise of options to
purchase or rights to subscribe for such convertible or exchangeable securities and subsequent conversion or exchange thereof shall be deemed to have been issued at the time such securities were issued or such options or rights were issued and for a
consideration equal to the consideration, if any, received by this corporation for any such securities and related options or rights (excluding any cash received on account of accrued interest or accrued dividends), plus the minimum additional
consideration, if any, to be received by this corporation (without taking into account potential antidilution adjustments) upon the conversion or exchange of such securities or the exercise of any related options or rights (the consideration in each
case to be determined in the manner provided in subsections 4(d)(i)(C) and (d)(i)(D)). 
 (C) In the event of any change in the number of
shares of Common Stock deliverable or in the consideration payable to this corporation upon exercise of such options or rights or upon conversion of or in exchange for such convertible or exchangeable securities, the relevant Conversion Prices of
the Preferred Stock, to the extent in any way affected by or computed using such options, rights or securities, shall be recomputed to reflect such change, but no further adjustment shall be made for the actual issuance of Common Stock or any
payment of such consideration upon the exercise of any such options or rights or the conversion or exchange of such securities. 
 (D) Upon
the expiration of any such options or rights, the termination of any such rights to convert or exchange or the expiration of any options or rights 

  

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related to such convertible or exchangeable securities, the relevant Conversion Prices of the Preferred Stock, to the extent in any way affected by or
computed using such options, rights or securities or options or rights related to such securities, shall be recomputed to reflect the issuance of only the number of shares of Common Stock (and convertible or exchangeable securities that remain in
effect) actually issued upon the exercise of such options or rights, upon the conversion or exchange of such securities or upon the exercise of the options or rights related to such securities. 
 (E) The number of shares of Additional Stock deemed issued and the consideration deemed paid therefor pursuant to subsections 4(d)(i)(E)(1) and
(2) shall be appropriately adjusted to reflect any change, termination or expiration of the type described in either subsection 4(d)(i)(E)(3) or (4). 
 (vi) “Additional Stock” shall mean any shares of Common Stock issued (or deemed to have been issued pursuant to subsection 4(d)(i)(E)) by this corporation on or after the Filing Date other than: 

(A) Common Stock issued or issuable pursuant to a transaction described in subsection 4(d)(iii) hereof; 
 (B) Common Stock (or options therefor) issued or issuable to employees, directors, consultants and other service providers of this corporation for the
primary purpose of soliciting or retaining their services pursuant to plans or agreements approved by this corporation’s Board of Directors; 
 (C) Common Stock issued pursuant to a Qualified Public Offering; 
 (D) Common Stock issued pursuant to the conversion or exercise
of convertible or exercisable securities outstanding on the Filing Date; 
 (E) Common Stock issued or issuable in connection with a bona
fide business acquisition of or by this corporation, whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise, that is approved by this corporation’s Board of Directors; 
 (F) Common Stock issued or issuable as a result of a decrease in the Conversion Price of any series of Preferred Stock resulting from the operation of
subsection 4(d); 
 (G) Common Stock issued to financial institutions, lessors, vendors and strategic partners in connection with commercial
credit arrangements, equipment financings, commercial property lease transactions or other transactions approved by this corporation’s Board of Directors up to one percent (1%) of the then outstanding shares of Common Stock of this
corporation (assuming the exercise and conversion into shares of Common Stock of all then outstanding exercisable and convertible securities of this corporation); 
  

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 (H) Common Stock issued or issuable to VantagePoint CDP Partners, L.P., after the Filing Date and on or
before December 31, 2008, in connection with an equity or debt financing of this corporation in an amount up to $5,000,000; and 
 (I)
Common Stock issued or issuable upon the conversion of shares of Series D-1 Preferred Stock issued from time to time after the Filing Date. 
 (vii) In the event this corporation should at any time or from time to time after the Filing Date fix a record date for the effectuation of a split or subdivision of the outstanding shares of Common Stock or the determination of holders of
Common Stock entitled to receive a dividend or other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of
Common Stock (hereinafter referred to as “Common Stock Equivalents”) without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents (including the additional shares of Common
Stock issuable upon conversion or exercise thereof), then, as of such record date (or the date of such dividend distribution, split or subdivision if no record date is fixed), the Conversion Prices of the Preferred Stock shall be appropriately
decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be increased in proportion to such increase of the aggregate of shares of Common Stock outstanding and those issuable with respect to
such Common Stock Equivalents. 
 (viii) If the number of shares of Common Stock outstanding at any time after the Filing Date is decreased
by a combination of the outstanding shares of Common Stock, then, following the record date of such combination, the Conversion Prices for the Preferred Stock shall be appropriately increased so that the number of shares of Common Stock issuable on
conversion of each share of such series shall be decreased in proportion to such decrease in outstanding shares. 
 (e) Other
Distributions. In the event this corporation shall declare a distribution payable in securities of other persons, evidences of indebtedness issued by this corporation or other persons, assets (excluding cash dividends) or options or rights not
referred to in subsection 4(d)(iii), then, in each such case for the purpose of this subsection 4(e), the holders of the Preferred Stock shall be entitled to a proportionate share of any such distribution as though they were the holders of the
number of shares of Common Stock of this corporation into which their shares of Preferred Stock are convertible as of the record date fixed for the determination of the holders of Common Stock of this corporation entitled to receive such
distribution. 
 (f) Recapitalizations. If at any time or from time to time there shall be a recapitalization of the Common Stock
(other than a subdivision, combination or merger or sale of assets transaction provided for elsewhere in this Section 4 or in Section 2) provision shall be made so that the holders of the Preferred Stock shall thereafter be entitled to
receive upon conversion of the Preferred Stock the number of shares of stock or other securities or property of this corporation or otherwise, to which a holder of Common Stock deliverable upon conversion would have been entitled on such
recapitalization. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 4 with respect to the rights of the holders of the Preferred Stock after the recapitalization to the end that the
provisions of this Section 4 (including 

  

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adjustment of the Conversion Prices then in effect and the number of shares purchasable upon conversion of the Preferred Stock) shall be applicable after
that event as nearly equivalently as may be practicable. 
 (g) No Fractional Shares and Certificate as to Adjustments. 

(i) No fractional shares shall be issued upon the conversion of any share or shares of the Preferred Stock and the aggregate number of shares of
Common Stock to be issued to particular stockholders, shall be rounded down to the nearest whole share and this corporation shall pay in cash the fair market value of any fractional shares as of the time when entitlement to receive such fractions is
determined. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Preferred Stock the holder is at the time converting into Common Stock and the number of shares of
Common Stock issuable upon such conversion. 
 (ii) Upon the occurrence of each adjustment or readjustment of the Conversion Prices of
Preferred Stock pursuant to this Section 4, this corporation, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of Preferred Stock a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. This corporation shall, upon the written request at any time of any holder of Preferred Stock, furnish or cause to be
furnished to such holder a like certificate setting forth (A) such adjustment and readjustment, (B) the Conversion Price for such series of Preferred Stock, as applicable, at the time in effect, and (C) the number of shares of Common
Stock and the amount, if any, of other property that at the time would be received upon the conversion of a share of Preferred Stock. 
 (h)
Notices of Record Date. In the event of any taking by this corporation of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend (other than a cash
dividend) or other distribution, this corporation shall mail to each holder of Preferred Stock and Common Stock, at least ten (10) days prior to the date specified therein, a notice specifying the date on which any such record is to be taken
for the purpose of such dividend or distribution, and the amount and character of such dividend or distribution. 
 (i) Reservation of
Stock Issuable Upon Conversion. This corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Preferred Stock,
such number of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of the Preferred Stock; and if at any time the number of authorized but unissued shares of Common Stock shall not
be sufficient to effect the conversion of all then outstanding shares of the Preferred Stock, in addition to such other remedies as shall be available to the holder of such Preferred Stock, this corporation will take such corporate action as may, in
the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purposes, including, without limitation, engaging in best efforts to obtain the
requisite stockholder approval of any necessary amendment to this Certificate. 
  

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 (j) Notices. Any notice required by the provisions of this Section 4 to be given to the
holders of shares of Preferred Stock and Common Stock shall be deemed given if deposited in the United States mail, postage prepaid, and addressed to each holder of record at his address appearing on the books of this corporation. 
 (k) Waiver of Adjustment to Conversion Price. Notwithstanding anything herein to the contrary, any downward adjustment of the Conversion Price of
any series of Preferred Stock may be waived, either prospectively or retroactively and either generally or in a particular instance, by the consent or vote of the holders of a majority of the outstanding shares of such series of Preferred Stock. Any
such waiver shall bind all future holders of shares of such series of Preferred Stock. 
 5. (a) General Voting Rights. Except as
provided by law or this Certificate, the holder of each share of Preferred Stock shall have the right to one vote for each share of Common Stock into which such Preferred Stock could then be converted, and with respect to such vote, each holder of
Preferred Stock shall have full voting rights and powers equal to the voting rights and powers of the holders of Common Stock, and shall be entitled, notwithstanding any provision hereof, to notice of any stockholders’ meeting in accordance
with the Bylaws of this corporation, shall be entitled to vote, together with holders of Common Stock, with respect to any question upon which holders of Common Stock have the right to vote. Fractional votes shall not, however, be permitted and any
fractional voting rights available on an as-converted basis (after aggregating all shares of Common Stock into which shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series D-1
Preferred Stock and Series E Preferred Stock held by each holder could be converted) shall be rounded to the nearest whole number (with one-half being rounded upward). On any matter for which a separate vote of a class or series of this corporation
may be required by law (consistent with this corporation’s ability to define, state and express the voting powers of its capital stock in this Certificate) and notwithstanding the classification of this corporation’s stock described in
Article IV (A) above, such required class or series vote shall be satisfied (i) in the case of a required class vote of the Preferred Stock of this corporation, by the vote of the Series A Preferred Stock, Series B Preferred Stock, Series
C Preferred Stock, Series D Preferred Stock, Series D-1 Preferred Stock and Series E Preferred Stock voting together as a single class, and (ii) in the case of a required series vote of the Series D Preferred Stock and the Series D-1 Preferred
Stock , by the vote of the Series D Preferred Stock and Series D-1 Preferred Stock voting together as a single series. 
 6. Voting for
the Election of Directors. As long as at least 15,000,000 shares of Series C Preferred Stock remain outstanding, the holders of shares of Series C Preferred Stock shall be entitled to elect four (4) directors of this corporation at any
election of directors. The holders of Preferred Stock and Common Stock (voting together as a single class and not as separate series, and on an as-converted basis) shall be entitled to elect any remaining directors of this corporation. 

Notwithstanding the provisions of Section 223(a)(1) and 223(a)(2) of the General Corporation Law, any vacancy, including newly created
directorships resulting from any increase in the authorized number of directors or amendment of this Certificate, and vacancies created by removal or resignation of a director, may be filled by a majority of the directors then in office, though less
than a quorum, or by a sole remaining director, and the directors so chosen shall hold 

  

 12 

 
office until the next annual election and until their successors are duly elected and shall qualify, unless sooner displaced; provided, however, that where
such vacancy occurs among the directors elected by the holders of a class or series of stock, the holders of shares of such class or series may override the Board of Directors’ action to fill such vacancy by (i) voting for their own
designee to fill such vacancy at a meeting of this corporation’s stockholders or (ii) written consent, if the consenting stockholders hold a sufficient number of shares to elect their designee at a meeting of the stockholders. Any director
may be removed during his or her term of office, either with or without cause, by, and only by, the affirmative vote of the holders of the shares of the class or series of stock entitled to elect such director or directors, given either at a special
meeting of such stockholders duly called for that purpose or pursuant to a written consent of stockholders, and any vacancy thereby created may be filled by a majority of the holders of that class or series of stock represented at the meeting or
pursuant to written consent. 
 7. Protective Provisions. So long as any shares of Preferred Stock remain outstanding, this
corporation shall not (including any subsidiary of this corporation) (by amendment, merger, consolidation or otherwise) without first obtaining the approval (by vote or written consent, as provided by law) of the holders of at least a majority of
the then outstanding shares of Preferred Stock: 
 (a) authorize or issue, or obligate itself to issue, any equity security (including any
other security convertible into or exercisable for any such equity security) having a preference over, or being on a parity with, Series C Preferred Stock with respect to liquidation preference, liquidation multiple, voting, dividends or redemption;

 (b) effect any transaction with an affiliate or a stockholder of this corporation; or 
 (c) amend this corporation’s Certificate of Incorporation or Bylaws in a manner that alters or changes the rights, preferences or privileges of any
series of Preferred Stock. 
 8. Status of Converted Stock. In the event any shares of Preferred Stock, shall be converted into shares
of Common Stock pursuant to Section 4 hereof, the shares so converted shall be cancelled and shall not be issuable by this corporation. The Certificate of Incorporation of this corporation shall be appropriately amended to effect the
corresponding reduction in this corporation’s authorized capital stock. 
 C. Common Stock. The rights, preferences, privileges
and restrictions granted to and imposed on the Common Stock are as set forth below in this Article IV(C). 
 1. Dividend Rights.
Subject to the prior rights of holders of all classes of stock at the time outstanding having prior rights as to dividends, the holders of Common Stock shall be entitled to receive, when, as and if declared by the Board of Directors, out of any
assets of this corporation legally available therefor, any dividends as may be declared from time to time by the Board of Directors. 
 2.
Liquidation Rights. Upon a Liquidation Event, the Proceeds shall be distributed as provided in Section 2 of Article IV(B) hereof. 
  

 13 

 3. Redemption. The Common Stock is not redeemable at the option of the holder. 
 4. Voting Rights. The holder of each share of Common Stock shall have the right to one vote for each such share and shall be entitled to notice of
any stockholders’ meeting in accordance with the Bylaws of this corporation, and shall be entitled to vote upon such matters and in such manner as may be provided by law. The number of authorized shares of Common Stock may be increased or
decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the stock of this corporation entitled to vote, voting as one class, irrespective of the provisions of
Section 242(b)(2) of the General Corporation Law. 
 ARTICLE V 
 Except as otherwise provided in this Certificate, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is
expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of this corporation. 
 ARTICLE VI 

The number of directors of this corporation shall be seven, which number may be increased or decreased pursuant to the Bylaws of this corporation.

 ARTICLE VII 
 Elections
of directors need not be by written ballot unless the Bylaws of this corporation shall so provide. 
 ARTICLE VIII 
 Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of this corporation may provide. The books of this
corporation may be kept (subject to any provision contained in the statutes) outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws of this corporation. 
 ARTICLE IX 
 A director of this
corporation shall not be personally liable to this corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director’s duty of loyalty to this
corporation or its stockholders, (ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the General Corporation Law, or (iv) for any
transaction from which the director derived any improper personal benefit. If the General Corporation Law is amended after approval by the stockholders of this Article IX to authorize corporate action further eliminating or limiting the personal
liability of directors, then the liability of a director of this corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended. 
  

 14 

 Any repeal or modification of the foregoing provisions of this Article IX by the stockholders of this
corporation shall not adversely affect any right or protection of a director of this corporation existing at the time of, or increase the liability of any director of this corporation with respect to any acts or omissions of such director occurring
prior to, such repeal or modification. 
 ARTICLE X 
 Subject to the provisions of this Certificate and the General Corporation Law, this corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate, in the manner now or
hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this reservation. 
 ARTICLE XI

 A.1. This corporation shall indemnify and hold harmless to the full extent not prohibited by law, as the same exists or may
hereinafter be amended, interpreted or implemented (but, in the case of any amendment, only to the extent that such amendment permits this corporation to provide broader indemnification rights than are permitted this corporation to provide prior to
such amendment), each person who was or is made a party or is threatened to be made a party to or is otherwise involved in (as a witness or otherwise) any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative and whether or not by or in the right of this corporation or otherwise (hereinafter, a “proceeding”) by reason of the fact that he or she, or a person of whom he or she is the heir, executor or
administrator, is or was a director or officer of this corporation or is or was serving at the request of this corporation as a director, officer or trustee of another corporation or of a partnership, joint venture, trust or other enterprise
(including without limitation, service with respect to employee benefit plans), or where the basis of such proceeding is any alleged action or failure to take any action by such person while acting in an official capacity as director or officer of
this corporation or in any other capacity on behalf of this corporation while such person is or was serving as a director or officer of this corporation, against all expenses, liability and loss, including but not limited to attorneys’ fees,
judgments, fine, ERISA excise taxes or penalties and amounts paid or to be paid in settlement (whether with or without court approval), actually and reasonably incurred or paid by such person in connection therewith. 
 2. Notwithstanding the foregoing, except as provided in subsection (C) of this Article XI, this corporation shall indemnify any such person seeking
indemnification in connection with a proceeding (or part thereof) initiated by such person only if such proceeding (or part thereof) was authorized by the board of directors of this corporation. 
 3. Subject to the limitation set forth above concerning proceedings initiated by the person seeking indemnification, the right to indemnification
conferred in this Article XI shall be a contract right and shall include the right to be paid by this corporation the expenses incurred in defending any such proceeding (or part thereof) or in enforcing his or her rights under this Article XI in
advance of the final disposition thereof promptly after receipt by this corporation of a request therefor stating in reasonable detail the expenses incurred; provided, however, that to the extent required by law, the payment of such expenses
incurred by a director or officer of this corporation 

  

 15 

 
in advance of the final disposition of a proceeding shall be made only upon receipt of an undertaking by or on behalf of such person, to repay all amounts so
advanced if and to the extent it shall ultimately be determined by a court that he or she is not entitled to be indemnified by this corporation under this Article XI or otherwise. 
 4. The right to indemnification and advancement of expenses provided herein shall continue as to a person who has ceased to be a director or officer of
this corporation or to serve in any of the other capacities described herein, and shall inure to the benefit of the heirs, executors and administrators of such person. 
 B. If a claim for indemnification under subsection A.1 of this Article XI is not paid in full by this corporation within thirty (30) days after a written claim therefor has been received by this corporation, the
claimant may, at any time thereafter, bring suit against this corporation to recover the unpaid amount of the claim, and if successful in whole or in part on the merits or otherwise in establishing his or her right to indemnification or to the
advancement of expenses, the claimant shall be entitled to be paid also the expense of prosecuting such claim. 
 C. The right to
indemnification and the payment of expenses incurred in defending a proceeding in advance of a final disposition conferred in subsection A of this Article XI and the right to payment of expenses conferred in subsection B of this Article XI shall not
be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses hereunder may be entitled under any bylaw, agreement, vote of stockholders, vote of disinterested directors or otherwise, both as to actions in
his or her official capacity and as to actions in any other capacity while holding that office, this corporation having the express authority to enter into such agreements or arrangements as the board of directors deems appropriate for the
indemnification of and advancement of expenses to present or future directors and officers as well as employees, representatives or agents of this corporation in connection with their status with or services to or on behalf of this corporation or
any other corporation, partnership, joint venture, trust or other enterprise, including any employee benefit plan, for which such person is serving at the request of this corporation. 
 D. This corporation may create a fund of any nature, which may, but need not, be under the control of a trustee, or otherwise secure or insure in any
manner its indemnification obligations, including its obligation to advance expenses, whether arising under or pursuant to this Article XI or otherwise. 
 E. This corporation may purchase and maintain insurance on behalf of any person who is or was a director or officer or representative of this corporation, or is or was serving at the request of this corporation as a
representative of another corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his or her status as such, whether
or not this corporation has the power to indemnify such person against such liability under the laws of this or any other state. 
 F.
Neither the modification, amendment, alteration or repeal of this Article XI or any of its provisions nor the adoption of any provision inconsistent with this Article XI or any of its provisions shall adversely affect the rights of any person to
indemnification and advancement of expenses existing at the time of such modification, amendment, alteration or repeal or the adoption of such inconsistent provision. 
  

 16 

 ARTICLE XII 
 Whenever a compromise or arrangement is proposed between this corporation and its creditors or any class of them and/or between this corporation and its stockholders or any class of them, any court of equitable
jurisdiction within the State of Delaware may, on the application in a summary way of this corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for this corporation under §291 of
Title 8 of the Delaware Code or on the application of trustees in dissolution or any receiver or receivers appointed for this corporation under § 279 of Title 8 of the Delaware Code order a meeting of the creditors or class of creditors, and/or
of the stockholders or class of stockholders of this corporation, as the case may be, to be summoned in such manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or
of the stockholders or class of stockholders of this corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of this corporation as consequence of such compromise or arrangement, the said compromise or
arrangement and the said reorganization shall, if sanctioned by the court to which the said application has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of this
corporation, as the case may be, and also on this corporation. 
 * * * 
  

 17 

 IN WITNESS WHEREOF, this corporation has caused this Amended and Restated Certificate of Incorporation to
be duly adopted and executed in its corporate name on its behalf by its duly authorized officer as of the      day of         , 2008. 
  

			
	TOUCHTUNES HOLDING CORPORATION
		
	By:	 	  

 EXHIBIT H 
 (Release for Barfly Shareholders) 
 ACKNOWLEDGMENT AND
RELEASE 
 September [    ], 2008 
 TouchTunes Corporation 
 740 Broadway 
 New York, NY 10003 
  

	 	Re:	Agreement and Plan of Merger, dated as of August 26, 2008, among TouchTunes Holding Corporation (“TouchTunes”), NBM Merger Sub, Inc. (“Merger
Sub”), National Broadcast Media Corp., a Texas corporation, doing business as Barfly Interactive Networks (“Barfly”), and James C. (Rad) Weaver, as the Company Shareholders’ Representative (the “Merger
Agreement”) 

 Ladies and Gentlemen: 
 This letter is being sent to you in connection with the proposed acquisition of Barfly by TouchTunes. Capitalized terms not defined herein shall have the meaning ascribed to them in the Merger Agreement. 

1. Merger Agreement. The holder of Capital Stock of Barfly named below (together with its successors and assigns, the
“Holder”) has executed this Acknowledgement and Release (“Agreement”) and delivered it to TouchTunes as contemplated by, and as a condition to the closing under, the Merger Agreement. 
 2. Release. In order to induce TouchTunes to enter into the Merger Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Holder, on behalf of itself and its successors and assigns, irrevocably, unconditionally and completely releases, acquits and forever discharges TouchTunes, Merger Sub and Company, each of their
Affiliates, and the successors and past, present and future assigns and legal, financial, internal and independent accounting and other advisors and representatives of any of the foregoing (collectively, the “Subject Parties”) from
any past, present or future dispute, claim, controversy, demand, right, obligation, liability, action or cause of action of every kind and nature, including any unknown, unsuspected or undisclosed claim or any claim or right that may be asserted or
exercised by the Holder in its capacity as a Company Shareholder, director, officer or employee of Barfly, as the case may be (each, a “Claim”), and irrevocably, unconditionally and completely waives and relinquishes each and every
Claim that the Holder may have had in the past, may now have or may have in the future against any of the Subject Parties, relating to any Contract entered into, and any events, matters, causes, things, acts, omissions or conduct, occurring or
existing, at any time on or prior to the Closing Date, subject to paragraph 4 below. The release in this paragraph shall be effective as of the Effective Time. In the event that the Merger Agreement is terminated without the Merger having been
consummated, the release in this paragraph shall not take effect. 

 3. Covenant Not To Sue. In order to induce TouchTunes to enter into the Merger Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, on behalf of the Holder and its successors and assigns, the Holder covenants not to sue any Subject Party with respect to any Claims that the Holder
has had, now has or may have at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to any action taken or omitted to be taken by any or all of the Subject Parties, at any time on or prior to the
Closing Date, subject to paragraph 4 below. The covenant not to sue in this paragraph shall be effective as of the Effective Time. In the event that the Merger Agreement is terminated without the Merger having been consummated, the covenant not to
sue in this paragraph shall not take effect. 
 4. Limitations on Release and Covenant Not To Sue. The release and covenant not to sue
contained in the paragraphs 2 and 3 of this Agreement do not include any release of the Holder’s rights and benefits, if any, nor include any covenant not to sue to enforce the Holder’s rights and benefits, if any, (i) under the
Merger Agreement and the Escrow Agreement or (ii) in the Ordinary Course of Business, consistent with past practice (unless otherwise prohibited by the Merger Agreement). 
 5. Shares. The Holder has good and marketable title to, and beneficially owns all of the shares of Capital Stock of Barfly listed on Schedule
A hereto (the “Shares”). Other than the Shares, the Holder does not and will not own (or have the right to acquire) any shares of Capital Stock of Barfly, and as of the Closing Date, Holder will hold the Shares free and clear of
all Liens, restrictions on transfer (other than restrictions under the Securities Act of 1933, as amended (the “Act”) and state securities laws), rights of first refusal and any voting trust, proxy or other agreement or
understanding (other than any agreement which will have been terminated or waived as of the Effective Time). 
 6. Waiver of Appraisal
Rights. The Holder, if it holds Capital Stock of Barfly, acknowledges, understands and agrees that, if it executes a Written Consent or otherwise votes in favor of adoption of the Merger Agreement, it will not be entitled to appraisal rights
under the Law of Texas or other Law in connection with the Merger. In any case, the Holder hereby waives any appraisal rights that it may be or become entitled to under applicable Law in connection with the Merger. 
 7. Appointment of Company Shareholders’ Representative. The Holder hereby confirms and approves the appointment of James C. (Rad) Weaver as
the Company Shareholders’ Representative under the Merger Agreement. The Holder acknowledges that the Company Shareholders’ Representative shall have authority to take any and all actions expressly permitted or required to be taken by the
Company Shareholders’ Representative under the Merger Agreement and which he believes are necessary or appropriate under thereunder, including, without limitation, giving and receiving any notice or instruction expressly permitted or required
under the Merger Agreement by the Company Shareholders’ Representative, authorizing payments to be made with respect thereto, defending all claims pursuant to Article 8 of the Merger Agreement, consenting to, compromising or settling all

  

 2 

 
claims, conducting negotiations with TouchTunes and its agents regarding such claims, taking any and all other actions specified in or contemplated by the
Merger Agreement. From and after the Effective Time, the Holder acknowledges and agrees that the Company Shareholders’ Representative shall serve as the sole representative of the Holder with respect to the Merger Agreement, the Escrow
Agreement and the transactions contemplated thereby. 
 8. Purchase for Investment. The Share Consideration to be issued to the Holder
are being acquired for the Holder’s own account for the purpose of investment. The Holder will refrain from transferring or otherwise disposing of any Capital Stock of TouchTunes acquired pursuant to the Merger Agreement, the equity securities
issuable conversion of Capital Stock of TouchTunes, or any interest therein, in such manner as to cause TouchTunes to be in violation of the registration requirements of the Act, or applicable state securities or blue sky laws. 
 9. Disclosure of Information. The Holder represents that it understands that the Company will offer each holder of Capital Stock of the Company
who is not an “accredited investor” as such term is defined under Regulation D of the Act or not a “U.S. Person” within Regulation S of the Act the opportunity to sell its Shares to the principal shareholder of the
Company for a (i) cash payment of $0.25 per Share, or, (ii) in the case of Shares that such holder will receive upon the exercise of an Option, a cash payment in an amount equal to the number of Shares subject to such Option multiplied by
the difference between $0.25 and the exercise price of such Option. Pursuant to the Merger Agreement, accredited investors who hold Shares shall have the right to exchange their Shares not subject to any Options for shares of Parent Common Stock
and/or Parent Series D Preferred Stock, and to exchange their Shares subject to an Option for a Roll-Over Option. The Holder acknowledges that such exchange could have a future value greater or less than such cash payment. The Holder further
represents that it has received a copy of the Confidential Information Statement, dated August 26, 2008, prepared by the Company, and has had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the Merger and the business, properties, prospects and financial condition of the Company and Parent. 
 10. Restricted
Securities. The Holder understands that the Capital Stock of TouchTunes is characterized as “restricted securities” under the Act inasmuch as the shares of Capital Stock of TouchTunes are being acquired by the Holder in a
transaction not involving a public offering, and that such shares may be resold without registration under the Act only in certain limited circumstances. The Holder is familiar with and understands the resale limitations imposed by the Act. The
Holder further understands that the Capital Stock of TouchTunes (together with any securities that may be issued to the Holder from time to time in respect thereof) are subject to the restrictions on transfer set forth in this Agreement. 

11. Legends. The Holder understands that the certificates evidencing the Capital Stock of TouchTunes may bear one or more of the following
legends: 
 (a) “These securities have not been registered under the Securities Act of 1933, as amended. They may not be sold, offered
for sale, pledged or hypothecated except pursuant to an effective registration statement in effect with respect to the securities under the Act or unless sold pursuant to Rule 144 of such Act or in compliance with Regulation S under the Act.”

  

 3 

 (b) Any legend set forth in the Amended and Restated Investors’ Rights Agreement. 
 (c) Any legend required by the Blue Sky laws of any state to the extent such laws are applicable to the Capital Stock of TouchTunes represented by the
certificate so legended. 
 12. Acceptance. The Holder acknowledges, understands and agrees that, in deciding to execute this
Agreement, it has relied entirely upon its own judgment, has read this Agreement and has had adequate time to consider its terms and effects and to ask any questions that the Holder may have of anyone, including legal counsel of its own choosing,
and the Holder has executed this Agreement voluntarily and with full understanding of its terms and its effects, and that no fact, evidence, event or transaction currently unknown to the Holder but which may later become known to the Holder will
affect in any way or manner the final and unconditional nature of this Agreement. The Holder has received and read the Merger Agreement and understands such document, and has had such opportunity as it deems adequate to obtain information from
Barfly and its representatives about the Merger Agreement and the Merger. 
 13. Dispute Resolution. Any dispute, claim or controversy
arising from or related in any way to this Agreement or the Merger Agreement, or the interpretation, application, breach, termination or validity thereof, will be resolved in accordance with Section 10.11 of the Merger Agreement (including the
arbitration and waiver of jury trial provisions therein), with the term “party” in such provision meaning, solely for purposes of this Agreement, TouchTunes, Company and the Holder. 
 14. Authorization. The Holder has all requisite power and authority to execute and deliver this Agreement, to perform its obligations hereunder
and to consummate the transactions contemplated hereby and by the Merger Agreement. To the extent applicable, all corporate, partnership, limited liability company and other proceedings required to be taken by the Holder to authorize the execution,
delivery and performance of this Agreement have been duly and properly taken. This Agreement has been duly executed and delivered by the Holder and constitutes the Holder’s legal, valid and binding obligation. 
 15. Miscellaneous. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. In the event that any
provision of this Agreement or the application thereof becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of
such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent hereof. Any such void or unenforceable provision of this Agreement shall be replaced with a valid and enforceable provision that will achieve,
to the extent possible, the economic, business and other purposes of such void or unenforceable provision. 
  

 4 

 [The remainder of this page is intentionally left blank.] 
  

 5 

 IN WITNESS WHEREOF, the undersigned has executed and delivered this Agreement on the day and year first
above written. 
  

					
		 		    	  

		 		    	[Name of Holder]
		 		    	[Address of Holder]
		
	AGREED AND ACCEPTED:	    	
		
	TOUCHTUNES CORPORATION	    	
			
	By:	 	  
	    	
	Name:	 		    	
	Title:	 		    	

 Signature Page to Release 

 SCHEDULE A 
 SHARES 
 [Company to complete for each holder] 
 Signature Page to Release 

 EXHIBIT H 
 (Release for Cashed Out Options) 
 National Broadcast Media Corp. 2007 Long-Term Incentive Plan

 Option Termination and Release 
 The undersigned,
                                         
            (“Grantee”), is the holder of a stock option (the “Option”) to purchase
                                         
                shares of Common Stock, par value $0.001 per share, of National Broadcast Media Corp., a Texas corporation doing business as Barfly Interactive Networks (the
“Company”), having received such Option under the National Broadcast Media Corp. 2007 Long-Term Incentive Plan (the “Plan”) and evidenced by a Nonqualified Stock Option Agreement between the Company and the
undersigned. 
 In connection with the proposed merger of a wholly owned subsidiary of TouchTunes Music Corporation into the Company (the
“Merger”) whereby the Company will become a wholly owned subsidiary of TouchTunes Music Corporation, the Plan will be terminated and all options issued thereunder cancelled. The Grantee confirms that he or she does not qualify as an
“accredited investor” as such term is defined in Rule 501 of Regulation D as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended, and as such will not be permitted by the Company to exercise
the Option and participate as a shareholder in the Merger. Grantee acknowledges receipt of the Confidential Information Statement dated as of August 26, 2008, from the Company providing detailed information regarding the Merger, TouchTunes
Corporation (“TouchTunes”), NBM Merger Sub, Inc. (“Merger Sub”) and the Company sufficient to allow Grantee independently to evaluate his or her financial and legal position with respect to the Options and this
Termination and Release. Grantee has had an opportunity to review the Agreement and Plan of Merger dated August 26, 2008, which is attached as Annex I to the Confidential Information Statement and to meet with management of the Company
to ask questions as appropriate to obtain sufficient information. 
 In consideration of Grantee’s receipt from the Company of a Company
check for good and valid funds payable to Grantee in the amount of $             (the “Payment Check”) which amount has been calculated by multiplying the number of shares
subject to the Option by $0.23, which is the difference between $0.25 (the fair value of one share of Common Stock on the date hereof as determined in good faith by the Company’s Board of Directors) and $0.02 (the exercise price per share of
the Option), Grantee hereby consents and agrees with the Company as follows: 
 (1) The Option is hereby surrendered to the Company for
termination, and Grantee hereby undertakes to deliver to the Company the Nonqualified Stock Option Agreement evidencing the Option (the “Option Agreement”) but regardless of whether the Option Agreement is delivered to or received
by the Company, the Option and the Option Agreement are hereby terminated and of no further force or effect; 
 (2) For good and valuable
consideration, including the Payment Check, receipt of which is hereby acknowledged, Grantee, on behalf of himself or herself and Grantee’s successors and assigns, irrevocably, unconditionally and completely releases, acquits and forever
discharges TouchTunes, Merger Sub and the Company, each of their respective affiliates, and the successors and past, present and future assigns and legal, financial, internal and independent accounting and other advisors and representatives of any
of the foregoing (collectively, the “Subject Parties”) from any past, present or future dispute, claim, controversy, demand, right, obligation, liability, action or cause of action of every kind and nature, including any unknown,
unsuspected or undisclosed claim or any claim or right that may be asserted or exercised by Grantee in Grantee’s capacity as an option holder of, or as a consultant or advisor to, Company, as the case may be (each, a “Claim”),
and irrevocably, unconditionally and completely waives and relinquishes each and every Claim that Grantee may have had in the past, may now have or may have in the future against any of the Subject Parties, relating to any contract, understanding or
arrangement entered into, and any events, matters, causes, things, acts, omissions or conduct, occurring or existing, at 

  

 1 

 
any time on or prior to the date of this agreement. The release in this paragraph shall be effective as of the consummation of the Merger (the
“Closing”). In the event that the Merger Agreement is terminated without the Merger having been consummated, the release in this paragraph shall not take effect. 
 (3) Grantee, on behalf of himself or herself and Grantee’s successors and assigns, covenants not to sue any Subject Party with respect to any Claims
that Grantee has had, now has or may have at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to any action taken or omitted to be taken by any or all of the Subject Parties, at any time on or prior
to the Closing. The covenant not to sue in this paragraph shall be effective as of the Closing. In the event that the Merger Agreement is terminated without the Merger having been consummated, the covenant not to sue in this paragraph (3) shall
not take effect. 
 (4) Immediately prior to his or her execution of this agreement, Grantee has good and valid title to, and beneficially
owns all right, title and interest in and to, the Option, free and clear of all liens, encumbrances, adverse interests, pledges, security interests and other restrictions. Upon Grantee’s receipt of the Payment Check, Grantee acknowledges and
confirms that Grantee shall cease to own (or have the right to acquire) the Option, or any other options or rights to purchase capital stock of the Company or any shares of capital stock of the Company. 
 (5) In deciding to execute this agreement, Grantee has relied entirely upon his or her own judgment, has read this agreement and the Confidential
Information Statement dated August 26, 2008 (a copy of which has been previously delivered to Grantee) and has had adequate time to consider the terms and effects of this agreement and the disclosures set forth in the Confidential Information
Statement and to ask any questions that Grantor may have of the officers and other representatives of the Company, and Grantee has executed this agreement voluntarily and with full understanding of its terms and its effects, and no fact, evidence,
event or transaction currently unknown to Grantee but which may later become known to Grantee will affect in any way or manner the final and unconditional nature of this agreement. Grantee acknowledges that he or she has had the opportunity to
consult with his or her own legal counsel in connection with the review, execution and delivery of this agreement. 
 (6) This agreement
shall be governed by, and construed in accordance with, the laws of the State of Texas. In the event that any provision of this agreement or the application thereof becomes or is declared by a court of competent jurisdiction to be illegal, void or
unenforceable, the remainder of this agreement will continue in full force and effect and the application of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent hereof. Any such void or
unenforceable provision of this agreement shall be replaced with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision. 
 Executed this      day of September, 2008. 
  

	
	  

	<Insert Name>

  

 2 

			
	
	AGREED AND ACCEPTED:
	
	NATIONAL BROADCAST MEDIA CORP.
		
	By:	 	  

		 	Bob Weinschenk, Chief Executive Officer

  

 3 

 EXHIBIT I 
 [Form of Opinion of Phillips & Reiter Law Firm, PLLC] 
 Capitalized terms used in this opinion and not otherwise
defined in this opinion shall have the same meanings ascribed to such terms in the [Merger] Agreement. 
 1. The Company is (i) a
corporation duly incorporated, validly existing and in good standing under the laws of the State of Texas and (ii) duly qualified to do business as a foreign corporation and in good standing in the Commonwealth of Pennsylvania. 
 2. The execution and delivery by the Company of the Merger Agreement, and the consummation by the Company of the Merger and the other transactions
expressly contemplated by the Merger Agreement, have been duly authorized by all necessary corporate action on the part of the Company and the holders of Capital Stock of the Company, including the approval of the Merger and the transactions
expressly contemplated by the Merger Agreement by the Company’s shareholders under the provisions of the Texas Business Organization Code (the “TBOC”) and the Constitutive Documents, and no other corporate action or
proceeding on the part of the Company or its shareholders is necessary to authorize the Merger Agreement or to consummate the Merger and the other transactions expressly contemplated by the Merger Agreement or for the Company to comply with the
provisions of the Merger Agreement. 
 3. The Merger Agreement has been duly executed and delivered by the Company and, assuming due
execution and delivery by the other parties thereto, constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. 
 4. No consent, approval, license, permit, order or authorization of, registration, declaration or filing with, or notice to, any United States or
Governmental Entity is required by the Company in connection with the execution and delivery by the Company of the Merger Agreement, the consummation by the Company of the Merger and the other transactions expressly contemplated by the Merger
Agreement or the compliance by the Company with the provisions thereof, except for the filing of the Articles of Merger with the office of the Secretary of State of the State of Texas (the “Texas Secretary of State”).

 5. The execution and delivery by the Company of the Merger Agreement, the Company’s compliance with the provisions thereof, and the
Company’s consummation of the Merger and the other transactions expressly contemplated by the Merger Agreement do not and will not conflict with, or result in any violation of or default under (with or without notice or lapse of time or both),
or give rise to a right of, or result in, the termination, 

 
cancellation or acceleration of any obligation under, or result in the creation of any Lien in or upon any of the properties or assets of the Company under,
any provision of the Constitutive Documents, (ii) any of the Material Contracts listed in Section 3.10(a) of the Disclosure Schedule or (iii) to our knowledge, any Order or any Law applicable to the Company or its properties or
assets. 
 6. The authorized Capital Stock of the Company consists of (i) 55,000,000 shares of Company Common Stock and 24,125,000
shares of Company Preferred Stock, of which 9,125,000 shares are designated as Series A Convertible Preferred Stock and 15,000,000 are designated as Series B Convertible Preferred Stock. There are 19,365,525 shares of Company Common Stock issued and
outstanding, 9,125,000 shares of Series A Convertible Preferred issued and outstanding and 9,992,343 shares of Series B Convertible Preferred issued and outstanding. An aggregate of 8,000,000 shares of Common Stock of the Company are reserved for
issuance under the Company’s 2007 Long-Term Incentive Plan, of which, to our knowledge, 960,525 shares have been issued and are currently outstanding and 2,828,406 shares are issuable upon the exercise of outstanding options. The Company has no
outstanding warrants. There are 9,125,000 shares of Common Stock reserved for issuance in connection with the conversion of the Series A Preferred and 9,992,343 shares of Common Stock are reserved for issuance in connection with the conversion of
the Series B Preferred. To our knowledge, except as described above, there are no other shares of Capital Stock of the Company issued, reserved for issuance or outstanding. All of the issued and outstanding shares of Capital Stock of the Company
have been duly authorized and validly issued and, to our knowledge, are fully paid and nonassessable. Except for the Options and as otherwise set forth in the Company Disclosure Schedules, to our knowledge, (i) there are no options, warrants,
calls or convertible securities to which the Company is a party obligating the Company to issue, deliver or sell, or cause to be issued, delivered or sold, any shares of Capital Stock of the Company, (ii) there are no outstanding or authorized
stock appreciation, phantom stock or other similar equity based plans with respect to the Company and (iii) there are no outstanding contractual obligations of the Company to repurchase, redeem or otherwise acquire any shares of Capital Stock
of the Company. 
 7. To our knowledge, there is no suit, action, claim or proceeding that is pending or has been threatened in writing
against the Company. 
 8. The Articles of Merger have been duly executed and delivered by the Company. Assuming the due execution and
delivery of the Articles of Merger by Merger Sub, upon the filing of the Articles of Merger with the Texas Secretary of State and the acceptance of such filing by the Texas Secretary of State, the Merger will be effective under the TBOC. 

 EXHIBIT J 
 NATIONAL BROADCAST MEDIA CORP. 
 D/B/A BARFLY INTERACTIVE NETWORKS 
  
  
 ACTION BY WRITTEN CONSENT

 OF THE 
 SHAREHOLDERS 
 IN LIEU OF A SPECIAL MEETING 
 Effective As of August 25, 2008 
 Under and in accordance with
Section 6.202 of the Texas Business Organizations Code (the “TBOC”) and the Bylaws of National Broadcast Media Corp., a Texas corporation doing business as Bafly Interactive Networks (the
“Company”), the undersigned, being the holders of more than two-thirds of (i) the issued and outstanding shares of the Common Stock, par value $0.001 per share (the “Common Stock”), of the
Company, and (ii) the issued and outstanding Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Stock”), and Series B Convertible Preferred Stock, par value $0.001 per share (the
“Series B Stock”; and together with the Series A Stock, the “Company Preferred Shares”), hereby consent that the recitals and resolutions set forth herein shall be deemed to be adopted and approved to
the same extent and to have the same force and effect as if such recitals and resolutions were adopted and approved by the vote of the holders of more than two thirds of the Common Stock and two thirds of the Company Preferred Shares in order to
authorize or take such action at a special meeting of the shareholders of the Company duly called and held for the purposes of acting upon such proposals to adopt and approve such recitals and resolutions. This Action by Written Consent may be
executed in one or more counterparts, all of which shall be considered one and the same instrument. 
 Approval of Merger with Subsidiary of TouchTunes
Music Corporation 
 WHEREAS, a merger (the “Merger”) has been proposed pursuant to which
NBM Merger Sub, Inc., a Texas corporation and wholly owned subsidiary of TouchTunes Music Corporation (“Merger Sub”), will be merged with and into the Company, with the Company surviving as a wholly owned subsidiary of
TouchTunes Music Corporation pursuant to the Agreement and Plan of Merger, a copy of which has been provided to the shareholders of the Company prior to the submission to them of this Action by Written Consent (the “Merger
Agreement”); 
  

 1 

 WHEREAS, under the terms of the Merger Agreement, the issued and outstanding
shares of Common Stock will be converted into shares of common stock of TouchTunes Holding Corporation, a Delaware corporation (“TouchTunes”), and the issued and outstanding Company Preferred Shares will be converted into
shares of Series D Preferred Stock of TouchTunes pursuant to the terms of the Merger Agreement; 
 WHEREAS, the Merger
will be consummated by filing Articles of Merger (the “Articles of Merger”) with the Secretary of State of the State of Texas; and 
 WHEREAS, the Board of Directors of the Company has unanimously determined that the adoption and approval of the Merger Agreement and the Merger and the other transactions contemplated thereby are advisable and
in the best interests of the Company and its shareholders, and that the Board of Directors of the Company recommends the adoption and approval of the Merger Agreement and the Merger and the other transactions contemplated thereby (the
“Transactions”) by the shareholders of the Company. 
 NOW, THEREFORE, BE IT RESOLVED, that the
Merger Agreement be, and it hereby is, adopted and approved, and the Merger and the other Transactions contemplated by the Merger Agreement be, and they hereby are, adopted and approved, including, without limitation, the filing of the Articles of
Merger with the Secretary of State of the State of Texas; 
 RESOLVED FURTHER, that James C. (Rad) Weaver be, and he
hereby is, appointed as the Company Stockholders’ Representative to act on behalf of the shareholders of the Company with respect to matters set forth in the Merger Agreement and the Escrow Agreement (as defined in the Merger Agreement),
including claims made against the options to purchase shares of common stock of TouchTunes and shares of common stock and Series D Preferred Stock of TouchTunes that will be deposited into the escrow account that will be established under the
applicable terms and provisions of Merger Agreement and the Escrow Agreement; and 
 RESOLVED FURTHER, that all acts
and deeds heretofore done by any director or officer of the Company for and on behalf of the Company in entering into, executing, acknowledging or attesting the Merger Agreement, any amendments thereto and any arrangements, agreements, instruments
or documents, referred to therein or contemplated thereby and in carrying out the terms and intentions of these resolutions, are hereby ratified, approved and confirmed. 
  

 2 

 By execution hereof, the undersigned acknowledges and agrees that upon his, her or its execution of this
Action by Written Consent, the undersigned shall lose his or her right to dissent from the proposed Merger and obtain payment for the undersigned’s shares of Common Stock or Company Preferred Shares under Sections 10.354 through 10.368 of the
TBOC. 
 This Action by Written Consent shall be filed with the minutes of the proceedings of the stockholders of the Company and shall have
the same force and effect as a vote of the stockholders. 
 IN WITNESS WHEREOF, the undersigned have executed this Action by Written
Consent as of the date first set forth above. 
  

					
		  	  
	  	
		  	Print Name of Stockholder As It Appears On Your Stock Certificate(s)	  	
		  	(Please Contact the Company if You are Uncertain as to the Name Used of Record)	  	
			
		  	  
	  	
		  	Sign Here	  	
			
		  	  
	  	
		  	If You Are Signing as an Authorized Representative of the Stockholder	  	
		  	Please Print Your Name and Title Here	  	
			
		  	DATED: August     , 2008	  	
		  	[Please Insert Date of Signature]	  	

  

 3Exhibit 10.23

 Exhibit 10.23 
 Execution Version 
  
  
 PURCHASE AGREEMENT 
 DATED AS OF SEPTEMBER 24, 2007 
 AMONG 
 WHITE RABBIT GAME STUDIO, LLC, 
 THE SELLERS NAMED HEREIN, 
 KENNETH FEDESNA, AS THE SELLERS’ REPRESENTATIVE 
 AND 
 TOUCHTUNES MUSIC CORPORATION

  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
	 ARTICLE 1
	  	PURCHASE AND SALE OF THE INTERESTS; CLOSING	  	1
	 SECTION 1.1.
	  	PURCHASE AND SALE	  	1
	 SECTION 1.2.
	  	 PURCHASE PRICE; MANNER OF PAYMENT
	  	2
	 SECTION 1.3.
	  	WORKING CAPITAL ESTIMATE; ESTIMATED CLOSING DATE CASH CONSIDERATION
	  	3
	 SECTION 1.4.
	  	CLOSING	  	4
	 SECTION 1.5.
	  	CLOSING DELIVERIES	  	4
	 SECTION 1.6.
	  	CLOSING DATE CASH CONSIDERATION ADJUSTMENT	  	5
	 SECTION 1.7.
	  	ADDITIONAL CONSIDERATION	  	6
	 SECTION 1.8.
	  	ASSIGNMENT OF INTELLECTUAL PROPERTY	  	7
	 SECTION 1.9.
	  	COVENANT REGARDING DEVELOPMENT PLAN AND OPERATIONS	  	8
	 SECTION 1.10.
	  	RIGHT TO PUT STOCK CONSIDERATION	  	8
	 SECTION 1.11.
	  	CANCELLATION OF SHARES AND TERMINATION OF PAYMENT
OBLIGATION	  	10
	 SECTION 1.12.
	  	SET-OFF RIGHT	  	10
	 SECTION 1.13.
	  	SELLERS’ RIGHT OF REPURCHASE	  	10
	 SECTION 1.14.
	  	SALE OF THE PURCHASER OR THE WHITE RABBIT
DIVISION	  	15
	 SECTION 1.15.
	  	DISPUTE RESOLUTION	  	16
			
	 ARTICLE 2
	  	REPRESENTATIONS AND WARRANTIES OF THE SELLERS	  	17
	 SECTION 2.1.
	  	AUTHORITY; EXECUTION AND DELIVERY; ENFORCEABILITY	  	17
	 SECTION 2.2
	  	INTERESTS	  	17
	 SECTION 2.3.
	  	NO CONFLICTS; CONSENTS	  	18
	 SECTION 2.4.
	  	LITIGATION	  	18
	 SECTION 2.5
	  	PURCHASE FOR INVESTMENT	  	18
	 SECTION 2.6
	  	INVESTMENT EXPERIENCE	  	18
	 SECTION 2.7
	  	RESTRICTED SECURITIES	  	18
	 SECTION 2.8
	  	 LEGENDS
	  	19
	 SECTION 2.9
	  	BROKERS’ FEES	  	19
			
	 ARTICLE 3
	  	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	19
	 SECTION 3.1.
	  	ORGANIZATION AND STANDING	  	19
	 SECTION 3.2.
	  	THE INTERESTS; SUBSIDIARIES	  	19
	 SECTION 3.3.
	  	AUTHORITY; EXECUTION AND DELIVERY; ENFORCEABILITY	  	20
	 SECTION 3.4.
	  	NO CONFLICT; CONSENTS	  	20
	 SECTION 3.5.
	  	 FINANCIAL STATEMENTS
	  	21
	 SECTION 3.6.
	  	UNDISCLOSED LIABILITIES; INDEBTEDNESS	  	21
	 SECTION 3.7.
	  	ASSETS OTHER THAN REAL PROPERTY INTERESTS	  	21
	 SECTION 3.8.
	  	REAL PROPERTY	  	21
	 SECTION 3.9
	  	INTELLECTUAL PROPERTY	  	22
	 SECTION 3.10.
	  	CONTRACTS	  	24
	 SECTION 3.11.
	  	PERMITS	  	26
	 SECTION 3.12.
	  	INSURANCE	  	26
	 SECTION 3.13.
	  	TAXES	  	26
	 SECTION 3.14
	  	LITIGATION	  	27

  

 i 

					
	 SECTION 3.15.
	  	 EMPLOYEE BENEFIT PLANS
	  	27
	 SECTION 3.16.
	  	 ABSENCE OF CHANGES OR EVENTS
	  	28
	 SECTION 3.17.
	  	 COMPLIANCE WITH LAWS
	  	28
	 SECTION 3.18.
	  	 EMPLOYEE AND LABOR MATTERS
	  	29
	 SECTION 3.19.
	  	 TRANSACTIONS WITH AFFILIATES
	  	29
	 SECTION 3.20.
	  	 CORPORATE NAME
	  	30
	 SECTION 3.21.
	  	 ACCOUNTS RECEIVABLE
	  	30
	 SECTION 3.22.
	  	 SUPPLIERS
	  	30
	 SECTION 3.23.
	  	 BROKERS
	  	30
	 SECTION 3.24.
	  	 ACCOUNTS; SAFE DEPOSIT BOXES; POWERS OF
ATTORNEY
	  	30
			
	 ARTICLE 4
	  	 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

	  	30
	 SECTION 4.1
	  	 ORGANIZATION
	  	30
	 SECTION 4.2.
	  	 AUTHORITY; EXECUTION AND DELIVERY;
ENFORCEABILITY
	  	31
	 SECTION 4.3
	  	 CAPITALIZATION
	  	31
	 SECTION 4.4.
	  	 NO CONFLICT; CONSENTS
	  	31
	 SECTION 4.5
	  	 LITIGATION
	  	32
	 SECTION 4.6.
	  	 SECURITIES ACT
	  	32
	 SECTION 4.7.
	  	 BROKERS
	  	32
	 SECTION 4.8.
	  	 FINANCIAL CONDITION
	  	32
	 SECTION 4.9.
	  	 CONTRACTS
	  	32
			
	 ARTICLE 5
	  	 COVENANTS
	  	32
	 SECTION 5.1.
	  	 COVENANTS RELATING TO CONDUCT OF
BUSINESS
	  	32
	 SECTION 5.2.
	  	 NON-COMPETITION
	  	34
	 SECTION 5.3.
	  	 ACCESS TO INFORMATION
	  	36
	 SECTION 5.4.
	  	 CONFIDENTIALITY
	  	36
	 SECTION 5.5.
	  	 COMMERCIALLY REASONABLE EFFORTS
	  	36
	 SECTION 5.6.
	  	 EXPENSES; TRANSFER TAXES
	  	36
	 SECTION 5.7.
	  	 TAX MATTERS
	  	37
	 SECTION 5.8.
	  	 POST-CLOSING COOPERATION
	  	37
	 SECTION 5.9.
	  	 PUBLICITY
	  	38
	 SECTION 5.10.
	  	 RECORDS
	  	38
	 SECTION 5.11.
	  	 FURTHER ASSURANCES
	  	38
	 SECTION 5.12.
	  	 ACCOUNTS; SAFE DEPOSIT BOXES; POWERS OF
ATTORNEY
	  	38
	 SECTION 5.13.
	  	 EMPLOYEE SALARY
	  	38
	 SECTION 5.14
	  	 DELIVERY OF FINANCIAL STATEMENTS
	  	39
	 SECTION 5.15
	  	 COMPLIMENTARY GAME UNITS
	  	39
			
	 ARTICLE 6
	  	 CONDITIONS PRECEDENT
	  	39
	 SECTION 6.1.
	  	 CONDITIONS TO EACH PARTY’S
OBLIGATION
	  	39
	 SECTION 6.2.
	  	 CONDITIONS TO THE OBLIGATIONS OF THE
PURCHASER
	  	40
	 SECTION 6.3.
	  	 CONDITIONS TO THE SELLERS’ OBLIGATION
	  	41
			
	 ARTICLE 7
	  	 TERMINATION, AMENDMENT AND WAIVER
	  	42
	 SECTION 7.1.
	  	 TERMINATION
	  	42
	 SECTION 7.2.
	  	 EFFECT OF TERMINATION
	  	42

  

 ii 

					
	 ARTICLE 8
	  	 INDEMNIFICATION
	  	42
	 SECTION 8.1.
	  	 TAX INDEMNIFICATION
	  	42
	 SECTION 8.2.
	  	 OTHER INDEMNIFICATION BY THE SELLERS
	  	43
	 SECTION 8.3.
	  	 OTHER INDEMNIFICATION BY THE PURCHASER
	  	44
	 SECTION 8.4.
	  	 TERMINATION OF INDEMNIFICATION
	  	44
	 SECTION 8.5.
	  	 PROCEDURES
	  	45
	 SECTION 8.6.
	  	 SURVIVAL
	  	46
	 SECTION 8.7.
	  	 NO RIGHT OF CONTRIBUTION
	  	46
	 SECTION 8.8.
	  	 EXCLUSIVE REMEDY
	  	46
	 SECTION 8.9.
	  	 SELLERS’ REPRESENTATIVE
	  	47
	 SECTION 8.10.
	  	 CALCULATION OF LOSSES
	  	49
			
	 ARTICLE 9
	  	 GENERAL PROVISIONS
	  	49
	 SECTION 9.1.
	  	 NOTICES
	  	49
	 SECTION 9.2.
	  	 DEFINITIONS
	  	50
	 SECTION 9.3.
	  	 DESCRIPTIVE HEADINGS; CERTAIN INTERPRETATIONS
	  	55
	 SECTION 9.4.
	  	 ASSIGNMENT
	  	56
	 SECTION 9.5.
	  	 SPECIFIC ENFORCEMENT
	  	56
	 SECTION 9.6.
	  	 ENTIRE AGREEMENT
	  	56
	 SECTION 9.7.
	  	 AMENDMENT AND WAIVER
	  	56
	 SECTION 9.8.
	  	 NO THIRD-PARTY BENEFICIARIES
	  	56
	 SECTION 9.9.
	  	 COUNTERPARTS
	  	57
	 SECTION 9.10.
	  	 GOVERNING LAW
	  	57
	 SECTION 9.11.
	  	 CONSENT TO JURISDICTION
	  	57
	 SECTION 9.12.
	  	 WAIVER OF JURY TRIAL
	  	57
	 SECTION 9.13.
	  	 SEVERABILITY
	  	57

  

			
	 EXHIBITS AND SCHEDULES:

	 EXHIBIT A
	 	MEMBERSHIP INTERESTS AND ALLOCATION OF CONSIDERATION
	 EXHIBIT B
	 	FORM OF EQUITY INTEREST AND NOTE ASSIGNMENT AGREEMENT
	 EXHIBIT C-1
	 	FORM OF SELLER-INVENTOR IP ASSIGNMENT AGREEMENT
	 EXHIBIT C-2
	 	FORM OF NON-INVENTOR IP ASSIGNMENT AGREEMENT
	 EXHIBIT C-3
	 	FORM OF PELLEGRINI IP ASSIGNMENT AGREEMENT
	 EXHIBIT D
	 	AMENDMENT TO INVESTORS’ RIGHTS AGREEMENT
	 EXHIBIT E-1
	 	FORM OF SELLER EMPLOYMENT AGREEMENT
	 EXHIBIT E-2
	 	FORM OF PELLEGRINI EMPLOYMENT AGREEMENT
	 EXHIBIT F
	 	PERFORMANCE MILESTONES
	 EXHIBIT G
	 	OFFERS OF EMPLOYMENT TO NON-SELLER EMPLOYEES
	 EXHIBIT H
	 	FORM OF OPINION OF SELLERS’ COUNSEL
	 EXHIBIT I
	 	FORM OF AMENDED AND RESTATED LLC OPERATING AGREEMENT
	 EXHIBIT J
	 	FORM OF ELK GROVE LEASE
	 EXHIBIT K
	 	FORM OF OPINION OF PURCHASER’S COUNSEL
	 SCHEDULE 6.2(E)
	 	CONSENTS
	 SCHEDULE 6.2(F)(IV)
	 	SELLER EMPLOYMENT AGREEMENTS
	
	PURCHASER DISCLOSURE LETTER
	SELLER/COMPANY DISCLOSURE LETTER

  

 iii 

 INDEX OF DEFINED TERMS 
  

			
	 Accelerated Put Shares
	  	9
	 Accounting Firm
	  	16
	 Acquisition
	  	1
	 Act
	  	3
	 Additional Assets
	  	11
	 Additional Cash Consideration
	  	2
	 Additional Stock Consideration
	  	2
	 Adjusted Closing Date Cash Consideration
	  	5
	 Affiliate
	  	52
	 Agreement
	  	1
	 Amendment to Investors’ Rights Agreement
	  	4
	 Ancillary Agreements
	  	50
	 Annual Financial Statements
	  	21
	 Base Cash Consideration
	  	2
	 Base Stock Consideration
	  	2
	 Business Day
	  	50
	 Cash Consideration
	  	2
	 Cause
	  	39
	 Closing
	  	4
	 Closing Date
	  	4
	 Closing Date Cash Consideration
	  	3
	 Closing Working Capital
	  	5
	 COBRA
	  	50
	 Code
	  	50
	 Company
	  	1
	 Company Intellectual Property
	  	50
	 Company Material Adverse Effect
	  	50
	 Confidential Information
	  	36
	 Consent
	  	18
	 Constitutive Documents
	  	51
	 Contract
	  	51
	 Copyrights
	  	51
	 Current Assets
	  	6
	 Current Liabilities
	  	6
	 Debt Interests
	  	1
	 Deemed Discontinuance
	  	11
	 Discontinuance Notice
	  	10
	 Eligible Shares
	  	3
	 Employee
	  	51
	 Employee Benefit Plan
	  	51
	 Environmental Law
	  	51
	 Environmental Liability
	  	51
	 Environmental Permits
	  	52

  

			
	 Equity Interest and Note Assignment Agreement
	  	4
	 Equity Interests
	  	1
	 Escrowed Shares
	  	5
	 Estimated Closing Date Cash Consideration
	  	3
	 Estimated Closing Working Capital
	  	3
	 Final Repurchase Price
	  	15
	 Final Repurchase Statement
	  	15
	 Financial Statements
	  	21
	 First Anniversary Payment
	  	3
	 GAAP
	  	6
	 Governmental Entity
	  	52
	 Hazardous Materials
	  	52
	 Indebtedness
	  	52
	 Indemnified party
	  	45
	 Indemnifying party
	  	45
	 Initial Seller Notice
	  	11
	 Intellectual Property
	  	52
	 Interests
	  	1
	 Interim Financial Statements
	  	21
	 IRS
	  	53
	 Jukebox Business
	  	35
	 Knowledge
	  	53
	 Law
	  	53
	 Leased Property
	  	21
	 Legal Proceeding
	  	23
	 Liability
	  	53
	 Lien
	  	1
	 Loss
	  	53
	 Marks
	  	53
	 Material Contract
	  	24
	 Membership Interest Percentage
	  	1
	 Milestone Development Period
	  	40
	 Net Operating Costs
	  	13
	 Net Revenues
	  	13
	 Non-Inventor IP Assignment Agreement
	  	4
	 Notice of Disagreement
	  	5
	 Operating Agreement
	  	53
	 Order
	  	53
	 Ordinary Course of Business
	  	53
	 Original Assets
	  	11
	 Patents
	  	53
	 Payment Default
	  	10

  

 iv 

			
	 Pellegrini Employment Agreement
	  	5
	 Pellegrini IP Assignment Agreement
	  	4
	 Performance Milestone
	  	6
	 Permit
	  	26
	 Permitted Liens
	  	53
	 Person
	  	54
	 Post-Closing Tax Period
	  	54
	 Pre-Closing Tax Period
	  	54
	 Preliminary Repurchase Price Statement
	  	12
	 Proceeding
	  	54
	 Property Taxes
	  	43
	 Public Offering
	  	3
	 Purchase Price
	  	2
	 Purchaser
	  	1
	 Purchaser Common Stock
	  	2
	 Purchaser Disclosure Letter
	  	30
	 Purchaser Financial Statements
	  	32
	 Purchaser Indemnitees
	  	43
	 Purchaser Indemnity Threshold
	  	44
	 Purchaser Material Adverse Effect
	  	54
	 Purchaser Sale
	  	15
	 Put
	  	9
	 Put Acceleration Closing
	  	9
	 Put Acceleration Event
	  	9
	 Put Acceleration Notice
	  	9
	 Put Acceleration Termination Date
	  	9
	 Put Period
	  	9
	 Put Price
	  	9
	 Put Shares
	  	9
	 Release
	  	54
	 Repurchase Notice of Disagreement
	  	12
	 Repurchase Option
	  	11
	 Repurchase Option Closing
	  	14
	 Repurchase Option Notice
	  	14
	 Repurchase Price Statement
	  	15
	 Restricted Business
	  	35

  

			
	 Seller Employment Agreement
	  	5
	 Seller Material Adverse Effect
	  	54
	 Seller/Company Disclosure Letter
	  	19
	 Seller-Inventor IP Assignment Agreement
	  	4
	 Sellers
	  	1
	 Sellers Indemnity Threshold
	  	44
	 Sellers’ Designated Account
	  	1
	 Sellers’ Representative
	  	1
	 Services
	  	35
	 Software
	  	54
	 Special Damages
	  	49
	 Specified Percentage
	  	55
	 Statement
	  	5
	 Stock Consideration
	  	2
	 Straddle Period
	  	43
	 Subsidiary
	  	55
	 Substitute Stock Consideration
	  	16
	 Target Working Capital
	  	3
	 Tax
	  	55
	 Tax Return
	  	55
	 Tax Returns
	  	55
	 Taxes
	  	55
	 Taxing Authority
	  	55
	 Third Party Claim
	  	45
	 TouchTunes Buyer
	  	15
	 Unit
	  	7
	 Valuation Firm
	  	17
	 Valuation Notice of Disagreement
	  	16
	 Video Game Console Business
	  	35
	 White Rabbit Assets
	  	11
	 White Rabbit Buyer
	  	15
	 White Rabbit Division
	  	8
	 White Rabbit Liabilities
	  	11
	 White Rabbit Sale
	  	15
	 Working Capital
	  	6

  

 v 

 PURCHASE AGREEMENT dated as of September 24, 2007 (this
“Agreement”), among WHITE RABBIT GAME STUDIO, LLC, an Illinois limited liability company (the “Company”), KENNETH FEDESNA,
MARK LOFFREDO, EDWARD PELLEGRINI, EDWARD SUCHOCKI, WILLIAM J. FEDERIGHI, THOMAS M. LOTUS and
DANTE FEDERIGHI (each a “Seller” and collectively the “Sellers”), KENNETH FEDESNA, (the “Sellers’ Representative”), and
TOUCHTUNES MUSIC CORPORATION, INC., a Delaware corporation (the “Purchaser”). 
 INTRODUCTION 
 The Sellers hold, directly or indirectly, (i) 100% of the limited
liability company interests of the Company (the “Equity Interests”) and (ii) all outstanding promissory notes set forth on Section 3.6(b) of the Seller/Company Disclosure Letter (the “Debt
Interests”, together with the Equity Interests, the “Interests”). 
 The Sellers desire to sell, and the
Purchaser desires to purchase, on the terms and subject to the conditions set forth in this Agreement, the Interests for an aggregate consideration of up to (i) $5,000,000 in cash, as adjusted pursuant to the provisions set forth herein, and
(ii) up to 2,000,000 shares of Purchaser Common Stock (as defined herein). 
 In consideration of the foregoing and the respective
representations, warranties, covenants and agreements set forth herein, the parties agree as follows: 
 ARTICLE 1 
 PURCHASE AND SALE OF THE INTERESTS;
CLOSING 
 Section 1.1. Purchase and Sale. Upon the terms and subject to the conditions set
forth in this Agreement, at the Closing, each Seller shall sell, transfer and deliver to the Purchaser, and the Purchaser shall purchase from each Seller, (i) the percentage of Equity Interests set forth opposite the name of such Seller on
Exhibit A (each a “Membership Interest Percentage” and, collectively, the “Membership Interest Percentages”), and (ii) the Debt Interests set forth opposite the name of such Seller on Section 3.6(b)
of the Seller/Company Disclosure Letter, in each case, free and clear of any lien, pledge, claim, charge, mortgage, encumbrance, security interest or other restriction of any kind, whether arising by Contract or by operation of Law (a
“Lien”). The purchase and sale of the Interests is referred to in this Agreement as the “Acquisition”. Any Stock Consideration payable to the Sellers under this Agreement shall be made pro rata to each Seller, based
on the respective Membership Interest Percentages of the Sellers, and shall be paid by delivery of certificates representing the number of shares payable to each Seller to the address for each Seller provided on Exhibit A, or to a subsequent
address provided to the Purchaser pursuant to Section 9.1. Any amounts of Cash Consideration payable to the Sellers under this Agreement shall be paid to the Sellers, by the Purchaser’s delivery of the total amount payable to one bank
account to be designated in writing by the Sellers at least two Business Days prior to the Closing (the “Sellers’ Designated Account”), which funds will be distributed to the Sellers from the Sellers’
Designated Account, as agreed by the Sellers. 
  

 1 

 Section 1.2. Purchase Price; Manner of Payment. (a) The aggregate purchase price (the
“Purchase Price”) to be paid by the Purchaser for the Interests consists of the following: 
 (i) an amount in cash equal to $3,008,264 (the “Base Cash Consideration”), payable by the Purchaser as set forth in Section 1.2(b) below, and subject to the adjustment in Section 1.6; 
 (ii) subject to Sections 1.7 and 1.12 below, up to an amount in cash equal to $2,250,000 (the “Additional Cash
Consideration”, together with the Base Cash Consideration, the “Cash Consideration); 
 (iii) subject to Section 1.12 below, an aggregate of 500,000 shares (the “Base Stock Consideration”) of common stock, par value $0.001 per share, of the Purchaser (the
“Purchaser Common Stock”), payable on the first anniversary of the Closing; and 
 (iv) subject to Sections 1.7 and 1.12 below, up to an aggregate of 1,500,000 shares of Purchaser Common Stock (the “Additional Stock Consideration”, together with the Base Stock Consideration, the
“Stock Consideration”). 
 (A) In the event that, after the date hereof, the number of shares
of the Purchaser Common Stock is 
 (i) increased by a stock dividend or by a subdivision or split-up of shares, then, following the record
date for such stock dividend, subdivision or split-up, the aggregate number of shares of Purchaser Common Stock held in escrow for the Sellers by the Purchaser shall be increased in proportion to such increase in outstanding shares; and 

(ii) decreased by a combination or reverse-split of the outstanding shares, then, following the record date for such combination or reverse-split, the
aggregate number of shares of Purchaser Common Stock held in escrow for the Sellers by the Purchaser shall be decreased in proportion to such decrease in outstanding shares. 
 The provisions of this Section 1.2(a)(iv)(A) shall apply to successive stock dividends, subdivision, split-up of shares, combination or reverse-split
of shares. 
 (B) Subject to Sections 1.13(a) and 1.14, in the event that, after the date hereof, the Purchaser shall effect
any sale of the Purchaser, by means of a consolidation, merger, sale of stock, sale of all or substantially all of its assets or otherwise, with, into or to any other Person and the holders of Purchaser Common Stock shall be entitled to receive
cash, securities, evidences of indebtedness or other property with respect to or in exchange for their shares of Purchaser Common Stock, then, at such time as a Seller would have been entitled to receive any Purchaser Common Stock pursuant to
Article 1, such Seller shall instead be entitled to receive such cash, securities, evidence of indebtedness or other property that was paid in such merger or consolidation in respect of such Purchaser Common Stock. The foregoing provision shall
similarly apply to successive consolidations, mergers or asset acquisitions. 
  

 2 

 (C) In the event that, after the date hereof, the Purchaser makes or issues to holders of
Purchaser Common Stock any cash dividend or other distribution payable in equity securities (other than shares of Purchaser Common Stock), evidences of its indebtedness or other property, then, at such time as a Seller is entitled to receive
Purchaser Common Stock pursuant to this Article 1, such Seller will receive such cash, securities, evidence of indebtedness or other property that was paid in such dividend and distribution in addition to Purchaser Common Stock pursuant to this
Article 1. The foregoing provision shall similarly apply to successive dividends or distributions. 
 (D) Each Seller shall be
entitled to vote the Escrowed Shares (as defined below) that he could be eligible to receive pursuant to this Article 1 (the “Eligible Shares”). In connection with any regular or special meeting of the stockholders of
the Purchaser, each Seller shall receive notice of such meeting, at the time and in the manner provided to other stockholders of the Purchaser, and shall have the right to attend and to vote his Eligible Shares at such meeting or to vote his
Eligible Shares by proxy at such meeting (or in the case of a written action of stockholders in lieu of a meeting, shall be entitled to receipt thereof). 
 (b) The Base Cash Consideration shall be payable by the Purchaser as follows: 
 (i)
$1,258,264 payable at Closing, subject to adjustment as provided in Sections 1.3 and 1.6 (as so adjusted, the “Closing Date Cash Consideration”); 
 (ii) subject to Section 1.12 below, $1,000,000 payable on the earlier of (A) the first anniversary of Closing or
(B) consummation of a Public Offering (as defined below) by the Purchaser (the “First Anniversary Payment”). For purposes of Article 1 of this Agreement, a Public Offering by the Purchaser shall mean the
registration of any of the Purchaser’s stock or other securities under the Securities Act of 1933, as amended (the “Act”) in connection with the public offering of such securities (other than a registration relating to a
corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of registrable
securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered); and 
 (iii) subject to Section 1.12 below, $750,000 payable on the earlier of (A) the second anniversary of Closing or
(B) consummation of a Public Offering by the Purchaser. 
 Section 1.3. Working Capital Estimate; Estimated Closing Date Cash
Consideration. Not less than two Business Days prior to the Closing, the Sellers’ Representative shall deliver to the Purchaser a detailed worksheet certified by the President or Chief Financial Officer of the Company, setting forth in
reasonable detail a good faith estimate of the Closing Working Capital (the “Estimated Closing Working Capital”“) and supporting detail thereto. Such worksheet and the determination of the Estimated Closing Working
Capital will be prepared by the Sellers in consultation with the Purchaser. For purposes of this Agreement, the “Estimated Closing Date Cash Consideration” means the Closing Date Cash Consideration, increased by the amount by
which such Estimated Closing Working Capital is greater than $0 (“Target Working Capital”),  

  

 3 

 
and decreased by the amount by which such Estimated Closing Working Capital is less than Target Working Capital, as the case may be. The Estimated Closing
Date Cash Consideration shall be payable at the Closing pursuant to Section 1.2(b)(i). 
 Section 1.4. Closing. The closing
of the transactions contemplated by this Agreement (the “Closing”) shall be held at the offices of the Company, Elk Grove Village, Illinois, at 10:00 a.m. on September 24, 2007, 2007, or on such other date and at such other
time as mutually agreed upon in writing by the Purchaser and a majority-in-interest of the Sellers. The date on which the Closing occurs is referred to in this Agreement as the “Closing Date”.  
 Section 1.5. Closing Deliveries. 
 (a) At the Closing, the Sellers shall deliver or cause to be delivered to the Purchaser: 
 (i) the equity interest
and promissory note assignment agreement substantially in the form of Exhibit B (the “Equity Interest and Note Assignment Agreement”), duly executed by each of the Sellers, pursuant to which each of the
Sellers assigns to the Purchaser his Interests; 
 (ii) the original promissory notes set forth on Section 3.6(b) of the
Seller/Company Disclosure Letter; 
 (iii) the Intellectual Property assignment agreement substantially in the form of
Exhibit C-1 (the “Seller-Inventor IP Assignment Agreement”), duly executed by Kenneth Fedesna, Mark Loffredo, Edward Pellegrini and Edward Suchocki, pursuant to which each such individual assigns to the
Company all Intellectual Property of the Company that has been, is being, or is proposed to be developed in whole or in part by such individual or that could be deemed to have been assigned, transferred or otherwise conveyed to such individual
pursuant to the Operating Agreement; 
 (iv) the Intellectual Property assignment agreement substantially in the form of
Exhibit C-2 (the “Non-Inventor IP Assignment Agreement”), duly executed by William J. Federighi, Thomas M. Lotus and Dante Federighi, pursuant to which each such individual assigns to the Company all
Intellectual Property of the Company that has been, is being, or is proposed to be developed in whole or in part by such individual or that could be deemed to have been assigned, transferred or otherwise conveyed to such individual pursuant to the
Operating Agreement (defined below); 
 (v) the Intellectual Property assignment agreement substantially in the form of
Exhibit C-3 (the “Pellegrini IP Assignment Agreement”), duly executed by Frank J. Pellegrini, pursuant to which Frank J. Pellegrini assigns to the Company all Intellectual Property of the Company that has
been, is being, or is proposed to be developed in whole or in part by him; 
 (vi) the amendment to the Investors’ Rights
Agreement dated November 9, 2006 between the Purchaser and the parties listed therein, substantially in the form of Exhibit D (the “Amendment to Investors’ Rights Agreement”), duly executed by
each of the Sellers, pursuant to which each of the Sellers shall become a party to such agreement and a “Holder” (as defined in such agreement); and 
  

 4 

 (vii) duly executed letters of employment or consulting agreements with each of the
individuals listed on Section 6.2(f)(iv) of the Purchaser Disclosure Letter, substantially in the form of Exhibit E-1 (each a “Seller Employment Agreement”), and the Pellegrini Employment
Agreement”, substantially in the form of Exhibit E-2, duly executed by Frank J. Pellegrini. 
 (b) At the Closing, the Purchaser
shall: 
 (i) deliver by wire transfer to the Sellers’ Designated Account immediately available funds totaling
$1,258,264, subject to increase or decrease as provided in Section 1.3; 
 (ii) issue and hold in escrow
certificates representing the Stock Consideration (any such shares held in escrow from time to time, the “Escrowed Shares”, in each case in the name of each Seller and in such denominations as are set forth
opposite such Seller’s name on Exhibit A; and 
 (iii) deliver or cause to be delivered to the Sellers the
Equity Interest and Note Assignment Agreement, the Amendment to Investors’ Rights Agreement, the Seller Employment Agreements and the Pellegrini Employment Agreement, each duly executed by the Purchaser. 
 Section 1.6. Closing Date Cash Consideration Adjustment. 
 (a) Within 90 days after the Closing Date, the Purchaser shall prepare and deliver to the Sellers’ Representative a statement (the “Statement”), setting forth in reasonable detail the calculation
of Working Capital as of the close of business on the Closing Date (“Closing Working Capital”). 
 (b) The
Statement shall become final and binding upon the parties on the 30th day following delivery thereof, unless the Sellers’ Representative gives written notice of its disagreement with the Statement (a “Notice of
Disagreement”) to the Purchaser prior to such date. Any Notice of Disagreement shall specify in reasonable detail the nature of any disagreement so asserted. If a Notice of Disagreement is received by the Purchaser in a timely
manner, then the Statement (as revised in accordance with this sentence) shall become final and binding upon the Sellers and the Purchaser on the earlier of (A) the date the Sellers’ Representative and the Purchaser resolve in writing any
differences they have with respect to the matters specified in the Notice of Disagreement or (B) the date any disputed matters are finally resolved in writing by the Accounting Firm (in accordance with Section 1.15 below). 
 (c) The actual Closing Date Cash Consideration shall be an amount equal to the Estimated Closing Date Cash Consideration, increased by the amount by
which Closing Working Capital is greater than Estimated Closing Working Capital and decreased by the amount by which Closing Working Capital is less than Estimated Closing Working Capital; provided, that no adjustment to the Closing Date Cash
Consideration pursuant to this Section 1.6(c) shall be made unless such adjustment would be equal to $25,000 or more, and if the adjustment would be equal to $25,000 or more, then the full amount of the adjustment shall be made. The Closing
Date Cash Consideration, as adjusted pursuant to this Section 1.6(c), is referred to herein as the “Adjusted Closing Date Cash Consideration”.  
 (d) (i) If the Adjusted Closing Date Cash Consideration is greater than the Estimated Closing Date Cash Consideration, the Purchaser shall, within
10 Business Days after 

  

 5 

 
the Statement becomes final and binding on the parties, make payment to the Sellers by wire transfer in immediately available funds to the Sellers’
Designated Account of such difference, together with interest thereon at a rate equal to the rate of interest from time to time announced publicly by Bank of America, N.A. as its prime rate, calculated on the basis of the actual number of days
elapsed divided by 365, from the Closing Date to the date of payment. 
      (ii) If the Estimated Closing Date Cash
Consideration is greater than the Adjusted Closing Date Cash Consideration, the Sellers shall make payment from the Sellers’ Designated Account to the Purchaser of such difference (and if there are insufficient funds in such account, then in
accordance with the Sellers’ Specified Percentages), within 10 Business Days after the Statement becomes final and binding on the parties, by wire transfer in immediately available funds, together with interest thereon at a rate equal to the
rate of interest from time to time announced publicly by Bank of America, N.A. as its prime rate, calculated on the basis of the actual number of days elapsed divided by 365, from the Closing Date to the date of payment. 
 (e) The term “Working Capital” means Current Assets minus Current Liabilities. The terms “Current
Assets” and “Current Liabilities” mean the current assets and current liabilities, respectively, of the Company, calculated in accordance with United States generally accepted accounting principles applied
consistently with, and in the same manner as, the Audited Consolidated Financial Statements (“GAAP”). 
 (f) Following the
Closing, the Purchaser shall not take any action with respect to the accounting books and records of the Company on which the Statement is to be based that would obstruct or prevent the preparation of the Statement and the determination of Closing
Working Capital as provided in this Section 1.6. During the period of time from and after the date of delivery of the Statement to the Sellers through the resolution of any adjustment to the Closing Date Cash Consideration contemplated by this
Section 1.6, the Purchaser shall afford to the Sellers and any accountants, counsel or financial advisers retained by the Sellers in connection with any adjustment to the Closing Date Cash Consideration contemplated by this Section 1.6
reasonable access during normal business hours to the books and records of the Company to the extent relevant to the adjustment contemplated by this Section 1.6, including the Purchaser’s working papers used in the preparation of the
Statement that are adequate to support with reasonable specificity the Purchaser’s calculation of Closing Working Capital. 
 Section 1.7. Additional Consideration. 
 (a) Payments Based on Performance Milestones. Subject to
Section 1.12 below, the Purchaser shall pay by wire transfer of immediately available funds $750,000 to the Sellers’ Designated Account and shall release from escrow 500,000 shares of the Additional Stock Consideration to the Sellers
within 10 Business Days following the satisfaction of the Performance Milestones as set forth on Exhibit F.  
 (b) Payments Based
on Sales Milestones. From and after the date on which the Purchaser commences the commercial sale or lease of Units (as defined below) to third parties, the Purchaser shall deliver quarterly statements to the Sellers, within 45 days after the
end of each calendar quarter, setting forth the number of Units sold or leased during the previous calendar quarter, and with respect to the first quarterly statement, during all previous calendar quarters. For each Unit sold or leased by the
Purchaser to third parties during the calendar quarter which is the subject of a quarterly statement, and with respect to the first quarterly 

  

 6 

 
statement, during all previous calendar quarters, the Purchaser shall, subject to Section 1.12 below, (i) pay to the Sellers $300 in cash to the
Sellers’ Designated Account, and (ii) release 200 shares of Stock Consideration from escrow to the Sellers, in accordance with the Membership Interest Percentages set forth on Exhibit A, until an aggregate of $1,500,000 has been
paid and an aggregate of 1,000,000 shares have been released. For purposes of this Agreement, “Unit” shall mean a single display, multi-game, video interactive entertainment device that operates wired or wirelessly. 
 Section 1.8. Assignment of Intellectual Property. 
 (a) Each Seller hereby sells, assigns, transfers and delivers to the Company, at and conditioned upon the Closing, all of his right, title and interest in, to and under: 
 (i) all the Intellectual Property relating to the Company, including, without limitation, all games or products listed on Section 1.8
of the Seller/Company Disclosure Letter and any other game or product that has been designed or developed, in each case, by or on behalf of the Company on or prior to the Closing Date, including without limitation, (A) all Intellectual Property
conceived, developed, or otherwise created by any Seller on behalf of the Company, solely or jointly with others, including, without limitation, all Intellectual Property conceived, developed, or created by such Seller (x) on behalf of the
Company or with any use or assistance of any of the Company’s tangible or intangible property or other resources (including without limitation, any of the Company’s Intellectual Property or Confidential Information), or (y) in the
course of employment or while under contract by or with the Company (in connection with the services provided to the Company pursuant to such contract), including without limitation in the case of Edward Suchocki, any and all right, title or
interest in any “Work Product” as defined in that certain Work for Hire Agreement dated as of February 1, 2006, between the Company and Gr8 Games, L.L.C., (B) all Intellectual Property of, used, held for use, or otherwise
licensed to the Company, including without limitation, the Intellectual Property listed in Section 1.8 of the Seller/Company Disclosure Letter, (C) all Intellectual Property that could be deemed to have been assigned, transferred or
otherwise conveyed to such Seller pursuant to Section 9.1 of the Operating Agreement or any other provisions of the Operating Agreement, including all rights, title and interests in and to any and all Intellectual Property that such Seller may
obtain in the future pursuant to the Operating Agreement, (D) all rights to collect royalties, income, damages and proceeds, in each case inuring to the benefit of such Seller, in connection with any of the Intellectual Property described in
this Section 1.8, and (E) all rights to sue or assert any claims (past, present or future, including, without limitation, damages for past, present or future infringement claims) of such Seller in connection with any of the Intellectual
Property listed in this Section 1.8; 
 (ii) all rights to collect royalties, income, damages and proceeds, in each case
inuring to the benefit of such Seller, in connection with any Intellectual Property assigned to or acquired by the Purchaser pursuant to this Agreement; and 
 (iii) all rights to sue or assert any claims (past, present or future) of such Seller in connection with any Intellectual Property
assigned to or acquired by the Purchaser pursuant to this Agreement. 
  

 7 

 (b) Each Seller acknowledges and agrees that, as between such Seller and the Company, the Company is and
shall remain the sole and exclusive owner of all Intellectual Property assigned to the Company pursuant to this Section 1.8, and that, as between such Seller and the Company, the Company shall have the sole and exclusive right to obtain,
maintain, hold, register and enforce such Intellectual Property. Each Seller shall not challenge, or assist or encourage any other Person to challenge, (i) the validity, enforceability, scope, duration, priority, effectiveness, or ownership of,
or right to use, such Intellectual Property, or (ii) otherwise take any actions which could materially adversely affect such Intellectual Property. Nothing in this Section 1.8 shall affect the rights of the Sellers pursuant to
Section 1.13 of this Agreement. 
 (c) Each Seller shall, from time to time, take such actions and give any written further assurance
and execute such individual confirmatory assignment deeds, change of name or address certificates and any other instrument, document and agreement prepared by the Purchaser, at the Purchaser’s expense, necessary or reasonably requested by the
Purchaser for the effectuation or recordation of this assignment or for the prosecution, protection, maintenance, defense or enforcement of the Intellectual Property assigned to or acquired by the Purchaser pursuant to this Agreement. 
 Section 1.9. Covenants Regarding Development Plan and Operations. 
 (a) Development Plan. The Sellers and the Purchaser have agreed to a Development Plan, dated the date hereof, that sets forth the specifications
and performance criteria, estimated costs, budget, time schedule and personnel requirements for the development of the Units, a copy of which has been delivered to the Sellers. No material modifications to the Development Plan can be made without
the prior written consent of the Purchaser and a majority-in-interest of the Sellers, which consent will not be unreasonably withheld. In addition, subject to Section 1.13, (i) each of the Sellers and the Purchaser shall use his or its
diligent efforts to implement the Development Plan (with such modifications as shall be implemented by the Purchaser consistent with the preceding sentence) and to achieve the Performance Milestones, and (ii) if the objectives set forth in the
Development Plan are achieved and the Performance Milestones are satisfied, (A) the Purchaser shall manufacture at least 500 Units within three months following the satisfaction of the Performance Milestones, and (B) the Purchaser shall
otherwise use commercially reasonable efforts to market and sell or lease the Units in the United States and Canada; provided, however, that the determination of whether the foregoing obligations of the Purchaser and the Sellers have been met
shall take into consideration the cost and feasibility of development and manufacture, the competitiveness of alternative product and service offerings, the proprietary position of the products related to the White Rabbit Division (as defined
below), the actual or expected profitability of such products and other relevant factors. 
 (b) White Rabbit Division. After the
Closing and until such time as all Cash Consideration and Stock Consideration have been earned under Sections 1.2 and 1.7 or are no longer payable pursuant to Section 1.11, the Company shall be maintained as a separate limited liability company
(the “White Rabbit Division”). 
 Section 1.10. Right to Put Stock Consideration. 
 (a) During the period from October 1, 2009 through December 31, 2009 (the “Put Period”), each of the Sellers
shall have the right to elect, in his sole discretion, to have the Purchaser repurchase all (but not less than all) of the shares of Stock Consideration previously 

  

 8 

 
delivered to such Seller pursuant to Sections 1.2(a)(iii) and 1.2(a)(iv) above (the “Put Shares”), at a price of $2.00 per share (the
“Put Price””), payable in cash to such Seller, by delivering written notice of such election to the Purchaser during the Put Period (such right is referred to as the “Put”). Within 30 Business
Days after the Purchaser’s receipt of (i) such notice and (ii) the Put Shares, duly endorsed in blank, the Purchaser shall send by wire transfer of immediately available funds to a bank account specified by such Seller a cash payment
equal to the product of (x) the number of Put Shares and (y) the Put Price. 
 (b) In the event of a Purchaser Sale (as defined in
Section 1.14(a) below) or a Public Offering by the Purchaser prior to December 31, 2009 (each a “Put Acceleration Event”), the Purchaser shall have the right, in its sole discretion, to accelerate the Put
with respect to either (at its election) (i) the shares previously earned by the Sellers pursuant to Sections 1.2(a)(iii) and 1.2(a)(iv) above, in which case the Put shall remain in effect for the balance of any shares earned after the date of
the Put Acceleration Closing (as defined below) in accordance with Section 1.10(a), or (ii) the maximum number of shares that the Sellers would be eligible to earn pursuant to Sections 1.2(a)(iii) and 1.2(a)(iv) above, whether or not such
shares have been earned by the Sellers prior to the Put Acceleration Event, in which case the Put shall terminate in its entirety upon the Put Acceleration Closing (in each case, the applicable shares shall be referred to as the
“Accelerated Put Shares”). To accelerate the Put, the Purchaser shall provide written notice of the Put Acceleration Event to each Seller at least 20 days prior to the consummation of a Purchaser Sale or the effective
date of the registration statement relating to a Public Offering by the Purchaser, as applicable (the “Put Acceleration Notice”). Each Seller who elects to exercise the Put shall notify the Purchaser in writing of such
election within 10 days of the date of the Put Acceleration Notice. The closing of the Put under this Section 1.10(b) (the “Put Acceleration Closing”) shall take place immediately after (and conditioned on) the
closing of the Purchaser Sale or the Public Offering of the Purchaser (the “Put Acceleration Termination Date”). At any Put Acceleration Closing, each Seller who has exercised the Put shall deliver to the Purchaser all
Accelerated Put Shares held by such Seller, duly endorsed in blank, and the Purchaser shall deliver, by wire transfer of immediately available funds to a bank account specified by such Seller, a cash payment equal to the product of (w) the
number of Accelerated Put Shares held by such Seller (which, in the case of clause (ii) of this Section 1.10(b), includes the maximum number of additional shares which such Seller would have been entitled to receive had all shares been
earned under Sections 1.2(a)(iii) and (iv)) and (x) the Put Price. In the event that any Seller sells shares of Purchaser Common Stock in such Public Offering, the amount payable by the Purchaser to such Seller under this Section 1.10(b)
will be reduced by the gross proceeds (net of underwriting discounts and commissions) received by such Seller in the Public Offering. Any Seller who exercises the Put with respect to the Accelerated Put Shares shall deliver such shares to the
Purchaser immediately prior to the Purchaser Sale in exchange for the aggregate Put Price and such Sellers shall not participate in the Purchaser Sale with respect to such Put Shares. 
 (c) The Put will terminate for all Sellers upon the first to occur of (i) the Put Acceleration Closing, with respect to the Accelerated Put Shares
only, whether or not each Seller has exercised the Put with respect to such shares, (ii) October 1, 2009 if on such date the Sellers have earned no Stock Consideration other than the Base Stock Consideration, and
(iii) December 31, 2009, if the Sellers have not exercised the Put during the Put Period. 
  

 9 

 (d) Notwithstanding the foregoing, in the event that the funds of the Purchaser legally available to
repurchase shares of its capital stock under applicable corporate law are insufficient to repurchase the maximum Stock Consideration payable to any Seller under Sections 1.2(a)(iii) and 1.2(a)(iv) or all of the Put Shares offered to be repurchased
under this Section 1.10, then the Purchaser shall use those funds that are legally available to repurchase the maximum number of such shares, on a pro rata basis among the Sellers who have exercised the Put, and shall continue to use such funds
as are legally available, on a fiscal quarterly basis, to repurchase such shares under this Section 1.10 on such pro rata basis. 
 Section 1.11. Cancellation of Shares and Termination of Payment Obligation. All Stock Consideration held in escrow for the Sellers pursuant to this Article 1 shall be cancelled by the Purchaser to the extent not earned by the
Sellers under Section 1.7 within 30 months after the first commercial shipment of the Units and, notwithstanding anything herein to the contrary, after such date, no further payment of shares or any cash payment will be made to the Sellers
pursuant to this Article 1. The preceding sentence shall not apply to any payment withheld in accordance with Section 1.12 hereof but that would otherwise have been due and payable within such 30 month period. 
 Section 1.12. Set-off Right. Notwithstanding anything in this Agreement to the contrary, if a claim for indemnification has been made by the
Purchaser pursuant to Section 8.1 or 8.2 and has not yet been fully paid or resolved, then (a) the Purchaser, or its successor-in-interest shall not be required to make any payment, up to the amount of the unpaid or unresolved indemnity
claim, of cash or release any Stock Consideration pursuant to Sections 1.2(a)(ii), 1.2(a)(iii), 1.2(a)(iv) or 1.7 that has not already been paid or released until the indemnification claim has been fully satisfied, (b) no payment pursuant to
Section 1.10 or Section 1.14, up to the amount of the unpaid or unresolved indemnity claim, shall be required until the indemnification claim has been fully satisfied, and (c) the Purchaser may offset any amounts due to a Purchaser
Indemnitee under Section 8.1 or 8.2 against any such payment of shares or cash referenced in clauses (a) and (b) that would otherwise be payable; provided, however, that during any period from the time that the Purchaser makes
any claim for indemnification in accordance with Article 8 and the final resolution of such claim, the amount of payment withheld shall be placed in escrow with a third party reasonably satisfactory to the Purchaser and a majority-in-interest of the
Sellers (and any interest accruing on such amount during such escrow period shall accrue for the benefit of the party or parties who ultimately receive such funds from escrow). For purposes of this Section 1.12, any shares applied to the
satisfaction of an indemnification claim under Section 8.1 or 8.2 shall be deemed to be valued at $2.00 a share), it being understood that Purchaser will be permitted, at its option, to offset against any cash payable before offsetting against
shares. 
 Section 1.13. Sellers’ Right of Repurchase 
 (a) Option to Repurchase Assets of the White Rabbit Division. Subject to Section 1.13(c), in the event that (i) the Purchaser defaults on
any payment obligation to the Sellers under this Agreement within the first year after Closing, including but not limited to the First Anniversary Payment, and does not cure such default within 10 days of its receipt of written notice thereof from
the Sellers (a “Payment Default”), (ii) the Purchaser determines, in its sole discretion, that it will discontinue its activities under the Development Plan or that, following achievement of the Performance
Milestones, it will discontinue the manufacture or sale of Units (the “Discontinuance Notice”), or (iii) either (x) the Performance Milestones are not satisfied by 

  

 10 

 
April 30, 2008, as a result of the Purchaser’s failure to fund the White Rabbit Division as contemplated by the Development Plan or (y) the
Purchaser fails to manufacture at least 500 Units within three months after the satisfaction of the Performance Milestones, and, in the case of both clauses (x) and (y), the Purchaser does not cure such failure within 30 days of its receipt of
written notice thereof from the Sellers (a “Deemed Discontinuance”), the Sellers shall have the right to elect, in their sole discretion, in accordance with the procedure set forth in this Section 1.13, to
repurchase and assume all (but not less than all, subject to this subsection 1.13(a)) of the following (the “Repurchase Option”) (A) to purchase (1) the assets of the White Rabbit Division that were owned by
the Company immediately prior to Closing (the “Original Assets”); (2) all enhancements, modifications and improvements to the Original Assets (but excluding any intellectual property owned by the Purchaser
prior to Closing and any enhancements, modifications and improvements to such intellectual property and excluding any assets or intellectual property relating to a communication link between a Unit and a digital jukebox); (3) all Intellectual
Property related to the White Rabbit Division that is or shall in the future be assigned to the Purchaser pursuant to any Non-disclosure and Intellectual Property Assignment Agreement between the Purchaser and an employee of the White Rabbit
Division, and (4) all additional assets related to the White Rabbit Division and designated by the Purchaser, in its sole discretion, as such (the “Additional Assets”), in the case of this clause (A), to the
extent that the Purchaser can assign or transfer such assets to the Sellers (collectively, the “White Rabbit Assets”), and (B) to assume all Liabilities of the White Rabbit Division that are paid or incurred, or
relate to a period, on or after the Initial Seller Notice in the Ordinary Course of Business, including without limitation commitments pursuant to agreements between the Purchaser and third parties such as customers, consultants and contract
manufacturers, in connection with the operation of the White Rabbit Division or relating to the White Rabbit Assets, but not including any indebtedness of the Purchaser not principally related to the White Rabbit Assets (the “White
Rabbit Liabilities”). Notwithstanding the foregoing, “White Rabbit Liabilities” shall not include any outstanding accounts payable incurred to purchase materials for the White Rabbit Division (i) if the Sellers certify
that such materials will not be useable by the Sellers in their operation of the business comprising the White Rabbit Division after the repurchase (including excess inventory) and (ii) if, and only to the extent that, such accounts payable, if
included in the determination of the Repurchase Price under Subsection 1.13(d) below, would result in a Repurchase Price less than zero. Notwithstanding the foregoing, “White Rabbit Assets” shall not include any cash, cash equivalents or
accounts receivable of TouchTunes (including any such assets of TouchTunes relating to or derived from the White Rabbit Division) nor any of the materials referred to in the immediately preceding sentence to the extent that the related White Rabbit
Liabilities are not assumed by the Sellers. All elections, requests, determinations, agreements and dispute resolutions by “the Sellers” under this Section 1.13 shall be made by a majority-in-interest of the Sellers. For the avoidance
of doubt, delivery by the Purchaser of a Discontinuance Notice under this Section 1.13 shall not be deemed to be a breach of this Agreement with respect to any other obligations of the Purchaser, including without limitation covenants of the
Purchaser pursuant to Section 1.9 hereof. 
 (b) Repurchase Process. Within 10 Business Days following a Payment Default,
delivery of a Discontinuance Notice or a Deemed Discontinuance, the Sellers shall deliver to the Purchaser a notice (i) requesting from the Purchaser a determination of the Preliminary Repurchase Price (as defined below) or (ii) waiving
all rights under this Section 1.13 (the “Initial Seller Notice”). 
  

 11 

 (i) In the event that the Sellers request a determination of the Preliminary Repurchase
Price in the Initial Seller Notice, the Purchaser shall deliver a notice thereof, setting forth in reasonable detail the calculation of such price (the “Preliminary Repurchase Price Statement”) within 20 Business Days of the
Initial Seller Notice. If the Sellers wish to exercise the Repurchase Option, they shall provide the Repurchase Option Notice (as defined in subsection (e) below) within 20 Business Days after delivery by the Purchaser of the Preliminary
Repurchase Price Statement, unless the Sellers give written notice of their disagreement with the Preliminary Repurchase Price Statement (a “Repurchase Notice of Disagreement) to the Purchaser prior to such date. In such
event, the Seller shall provide the Repurchase Option Notice within 20 Business Days after the Preliminary Repurchase Price Statement shall become final, as provided below. Any Repurchase Notice of Disagreement shall specify in reasonable detail the
nature of any disagreement so asserted. If a Repurchase Notice of Disagreement is received by the Purchaser in a timely manner, then the Preliminary Repurchase Price Statement (as revised, if applicable) shall become final upon the Sellers and the
Purchaser on the earlier of (A) the date that the Sellers and the Purchaser resolve in writing any differences they have with respect to the matters specified in the Notice of Disagreement or (B) the date any such disputed matters are
finally resolved in writing by the Accounting Firm (as defined in Section 1.15(a) below). 
 (ii) In the event that the
Sellers waive all rights under this Section 1.13 in the Initial Seller Notice, or do not deliver a Repurchase Option Notice within the period specified in clause (i) above, then (A) if the Repurchase Option was triggered by a Deemed
Discontinuance or a Discontinuance Notice, all obligations of the Purchaser under this Agreement, including without limitation the obligation to pay any remaining portion of the Purchase Price, shall terminate, but (B) if the Repurchase Option
was triggered by a Payment Default, all obligations of the Purchaser under this Agreement shall continue in effect in accordance with this Section 1.13; provided that the Sellers shall only be entitled to one Repurchase Option as a
result of any one Payment Default. 
 (c) Termination of Repurchase Option. The Repurchase Option shall terminate on the earlier to
occur of (i) the date on which the Purchaser has paid to the Sellers an aggregate of $2,750,000 and released to the Sellers an aggregate of 1,000,000 shares of Stock Consideration and (ii) the 13-month anniversary of the Closing Date.
Notwithstanding anything herein to the contrary, the Sellers shall not be permitted to exercise their Repurchase Option if there exists a material breach of any of the Seller’s obligations or representations under this Agreement or any of the
Ancillary Agreements to which any Seller is a party, and such breach is related to the Purchaser’s Payment Default, the Purchaser’s decision to provide a Discontinuance Notice, or a Deemed Discontinuance, and the applicable Seller or
Sellers have not cured such breach within 30 days of the Purchaser’s written notice thereof. 
  

 12 

 (d) Repurchase Price. 
 (i) The aggregate price to be paid by the Sellers to repurchase the White Rabbit Assets shall be an amount equal to the sum of
(A) the Repurchase Price (as defined below), (B) the surrender for cancellation by the Purchaser of all Stock Consideration delivered to the Sellers pursuant to this Agreement, and (C) the release and return to the Purchaser of any
amounts paid into escrow pursuant to clause (ii) of this Section 1.13(d) below. The Repurchase Price shall be determined according to the following formula: 
  

					
	     Repurchase Price = (0.5*(x + y - 1,750,000)) + S - L

			
		 		 	where
			
	 x
	 	=	 	the Cash Consideration paid by the Purchaser to the Sellers prior to the Initial Seller Notice
			
	 y
	 	=	 	the Purchaser’s Net Operating Costs and Capital Costs related to the White Rabbit Division from the Closing Date under this Agreement through the Repurchase Option
Closing
			
	 S
	 	=	 	any severance, employee benefit or other costs, incurred directly or indirectly, in connection with the termination or transfer to the transferee of the White Rabbit Assets and the White
Rabbit Liabilities, of any employees of the Purchaser who worked for the White Rabbit Division (other than any who were employees of the Purchaser prior to the Closing or other employees of Purchaser transferred from Purchaser to the White Rabbit
Division without Sellers’ consent), who cease to be employees of the Purchaser as a result of or otherwise relating to the exercise of the Repurchase Option by the Sellers (whether or not such employees become employees of the transferee); and

			
	 L
	 	=	 	the White Rabbit Liabilities;

 provided, that in no event shall the Repurchase Price be less than zero. 

For purposes of this Section 1.13, “Net Operating Costs” shall mean an amount equal to (A) minus (B), in each case determined
from the Closing Date through the Repurchase Option Closing, where (A) is equal to the sum of (1) all of the research and development, and manufacturing costs paid or incurred by the Purchaser related to the White Rabbit Division prior to
the Initial Seller Notice and, including without limitation any license fees or similar amounts, but not including amounts that constitute White Rabbit Liabilities, (2) a percentage of the total sales and marketing, administrative and other
overhead costs of the Purchaser equal to the ratio of the total research and development costs and manufacturing costs relating to the White Rabbit Division during such period to all such operating expenses of the Purchaser during such period, and
(3) all capital expenditures paid or incurred by the Purchaser prior to the Initial Seller Notice and related to the operations of the White Rabbit Division, but not including amounts that constitute White Rabbit Liabilities; and (B) is
equal to the “Net Revenues” of the Purchaser or the White Rabbit Division, in the event Units are sold by the White Rabbit Division directly to third parties, related to the sale of Units, which shall be defined as the gross
revenues from the sale of such Units, less the following related to such Units: discounts and commissions to third parties, returns and allowances, warranty expenses, shipping, taxes and insurance. In the event that the Units are not sold
individually by the Purchaser, but instead are bundled with other products sold by the Purchaser, the Purchaser shall determine the amount of Net Revenue allocable to the Units in good faith. For the purposes of this paragraph, all costs and other
expenditures paid or incurred by Purchaser related to the White Rabbit Division shall include any costs and other expenditures paid or incurred directly by the White Rabbit Division. 
  

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 For purposes of the Preliminary Repurchase Price Statement, the Preliminary Repurchase Price shall be
calculated, in accordance with the foregoing formula, as of the end of the calendar month preceding the receipt of the Initial Sellers Notice. 
 (ii) All payments of Cash Consideration and Stock Consideration, if any, that become payable to the Sellers under this Article 1 during the period from the date of the Initial Sellers Notice until the earlier of the
Repurchase Option Closing and the date that the Sellers notify the Purchaser in writing that they will not elect to exercise the Repurchase Option shall be placed in escrow with a third party, reasonably satisfactory to the Purchaser and the
Sellers’ Representative (and any interest accruing on such amount during such escrow period shall accrue for the benefit of the party or parties who ultimately receive such funds from escrow), and shall be released in full (i) to the
Purchaser at the Repurchase Option Closing if the Sellers exercise the Repurchase Option, and (ii) to the Sellers if the Sellers elect not to exercise the Repurchase Option. 
 (e) Repurchase Option Notice. To exercise the Repurchase Option, the Sellers shall deliver written notice to the Purchaser (the
“Repurchase Option Notice) stating (i) that they are exercising their Repurchase Option, (ii) a date, not less than 10 days and no more than 30 days after the date of the Repurchase Option Notice, that the Sellers wish
to purchase the White Rabbit Assets, and (iii) the name and address of the legal entity that will be transferee of the White Rabbit Assets. 
 (f) Repurchase Option Closing. 
 (i) The closing of the Repurchase Option (the “Repurchase Option
Closing”) shall take place at such time and place as designated in writing in the Repurchase Option Notice. Not less than two (2) Business Days prior to the Repurchase Option Closing, the Purchaser shall prepare and deliver to the
Sellers a statement of the estimated Repurchase Price (estimated as of the Repurchase Option Closing date) (the “Repurchase Price Statement”), prepared in a manner consistent with the preparation of the Preliminary Repurchase
Price Statement (or as adjusted, if applicable, following a Repurchase Notice of Disagreement under Section 1.13(b)). 
 (ii) At the Repurchase Option Closing, (i) the Sellers shall deliver to the Purchaser (A) the Repurchase Price by wire transfer of immediately available funds to an account designated by the Purchaser prior to such closing,
(B) the certificates representing all Stock Consideration received by the Sellers pursuant to this Agreement for cancellation by the Purchaser, duly endorsed by the applicable Seller, (C) a release from each Seller and from the transferee
entity of any and all claims against the Purchaser with respect to any obligations of the Purchaser, past, present or future, under this Agreement or in connection with such transfer, including without limitation any further payments of the Purchase
Price (it being agreed that any such transfer shall be “as is,” subject to the last sentence of this subsection (f)), and (D) counterpart signatures of the documents, agreements and certificates described in clause (ii)( X) below,
effecting among other things the assumption of the White Rabbit Liabilities and all other documents that the Purchaser may reasonably request to effectuate the assignment and assumption by the Sellers or the transferee of the White Rabbit
Liabilities, and (ii) the 

  

 14 

 
Purchaser shall deliver to such person or entity as the Sellers’ Representative shall designate (X) duly executed deeds, bills of sale, assignment
and assumption agreements or other instruments of transfer for the assignment or transfer of the Original Assets and the Additional Assets to such person or entity, including, without limitation, a duly executed general intellectual property
assignment of Intellectual Property related to the White Rabbit Assets, (Y) all other documents that the Sellers may reasonably request to effectuate the assignment and transfer of the Original Assets and the Additional Assets to the Sellers,
in all cases, to the extent such assets and such Intellectual Property may be assigned or transferred by the Purchaser, and (Z) a release of any and all claims against the Sellers with respect to any obligations of the Sellers, past, present or
future, under this Agreement. Notwithstanding the foregoing, in no event shall the Purchaser be required to make any additional payments to any third party to procure the rights to assign or transfer any of the Original Assets or the Additional
Assets which, by their terms, may not be assigned or transferred. Prior to the Repurchase Option Closing, the Purchaser will cause all liens, claims and encumbrances on the White Rabbit Assets, other than liens, claims and encumbrances related to
White Rabbit Liabilities, to be released in full. 
 (g) Repurchase Price Adjustment. Within 10 Business Days after the Repurchase
Option Closing, the Purchaser shall deliver to the Sellers’ Representative a statement (the “Final Repurchase Statement”), setting forth the calculation of the actual Repurchase Price as of the close of business on the
Repurchase Option Closing (“Final Repurchase Price”), based on adjustments, if any, to the Repurchase Price Statement for White Rabbit Liabilities paid or incurred in the Ordinary Course of Business after the date of the
Repurchase Price Statement, and prepared in a manner consistent with the preparation of the Repurchase Price Statement. The Repurchase Price shall be increased by any amount by which the Repurchase Price in the Final Repurchase Statement is greater
than the Purchase Price in the Repurchase Statement, and the Repurchase Price shall be decreased by the amount by which the Repurchase Price in the Final Repurchase Statement is less than the Purchase Price in the Repurchase Statement;
provided, that no adjustment to the Repurchase Price pursuant to this Section 1.13(g) shall be made unless such adjustment is at least $10,000. 
 Section 1.14. Sale of the Purchaser or the White Rabbit Division 
 (a) Sale of the
Purchaser. As long as the Sellers may be entitled to receive additional Cash Consideration and/or Stock Consideration under this Agreement, in the event that the Purchaser is acquired by a third party (the “TouchTunes
Buyer”), by way of merger, consolidation, sale of stock, sale of all or substantially all of its assets or otherwise (the “Purchaser Sale”), the Purchaser shall cause the TouchTunes Buyer to assume the obligations of
the Purchaser under this Agreement (subject to Section 1.10 above), and to place in escrow, in substitution for the Stock Consideration then held in escrow, a number of shares of the TouchTunes Buyer’s common stock (or equivalent security)
as shall be equivalent in value to the value of the Stock Consideration remaining in escrow on such date. 
 (b) Sale of the White Rabbit
Division. As long as the Sellers may be entitled to receive additional Cash Consideration and/or Stock Consideration under this Agreement, if the White Rabbit Assets are sold to a third party (“White Rabbit Buyer”),
whether by means of a merger, consolidation, sale of assets, stock or limited liability company interests or otherwise, (the “White Rabbit Sale”), then as a condition to the consummation of the White Rabbit Sale, the
Purchaser shall cause the White Rabbit Buyer to assume the obligations of the Purchaser under 

  

 15 

 
this Agreement and to place in escrow, in substitution for the Stock Consideration then held in escrow, a number of shares of the White Rabbit Buyer’s
common stock (or equivalent security) as shall be equivalent in value to the value of the Stock Consideration remaining in escrow on such date (the “Substitute Stock Consideration”“). In addition, if a majority-in-interest of
the Sellers does not believe, based on a reasonable good faith determination, that the White Rabbit Buyer has the financial ability to satisfy the obligations of the Purchaser under this Agreement to the same extent as the Purchaser, the Purchaser
shall agree to guarantee, in the event of a default by the White Rabbit Buyer that is not cured within the time periods specified in this Agreement: (i) the payment of the Cash Consideration, and (ii) the obligations of the White Rabbit
Buyer under Section 1.10(a) with respect to the Substitute Stock Consideration. 
 (c) Determination of Value of Purchase
Consideration or White Rabbit Buyer Shares. The value of the common stock of the TouchTunes Buyer or the White Rabbit Buyer, for purposes of Sections 1.14(a) and 1.14(b), shall be determined as follows: (i) if the TouchTunes Buyer or the
White Rabbit Buyer is a publicly traded company, the value of the common stock of such party shall be the weighted average of the closing prices of a share of such stock on the 30 trading days ending two trading days prior to the closing of the
White Rabbit Sale, or (ii) if the TouchTunes Buyer or the White Rabbit Buyer is not a publicly traded company, the value shall be as set forth in the acquisition agreement, if applicable, or otherwise as determined by the Board of Directors of
the Purchaser in good faith. In the event that the consideration payable in the Purchaser Sale or the White Rabbit Sale is other than the common stock of the TouchTunes Buyer or the White Rabbit Buyer, the fair market value of such consideration
shall be determined by the Board of Directors of the Purchaser in good faith. If the Sellers dispute any valuation of shares or other consideration pursuant to this Section 1.14(c), and the parties are unable to resolve such dispute in good
faith within 30 days of the Purchaser’s receipt of the Sellers’ written notice of such dispute (the “Valuation Notice of Disagreement”), the valuation in dispute shall be determined by a mutually acceptable
valuation firm in accordance with Section 1.15(b) below. 
 Section 1.15. Dispute Resolution. 
 (a) During the 30-day period following the delivery of a Notice of Disagreement under Section 1.6(b) or a Repurchase Notice of Disagreement under
Section 1.13(c), the Sellers’ Representative and the Purchaser shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice of Disagreement or the Repurchase Notice
of Disagreement. At the end of such 30-day period, the Sellers’ Representative and the Purchaser shall submit for arbitration any and all matters that remain in dispute and which were properly included in the Notice of Disagreement to a
nationally recognized independent accounting firm, selected and agreed to in writing by both parties (the “Accounting Firm”). The Sellers’ Representative and the Purchaser shall use their respective commercially
reasonable efforts to cause the Accounting Firm to render a decision resolving the matters submitted to the Accounting Firm within 30 days following the submission thereof. An order may be entered upon the determination of the Accounting Firm in any
court having jurisdiction over the party against which such determination is to be enforced. The cost of any arbitration (including the fees and expenses of the Accounting Firm and reasonable attorney fees and expenses of the parties) pursuant to
this Section 1.15(a) shall be borne by the Purchaser, on the one hand, and the Sellers, on the other hand, (from the Sellers’ Designated Account, and if there are insufficient funds in such account, then in accordance with the
Sellers’ Specified 

  

 16 

 
Percentages) in inverse proportion as each may prevail on matters resolved by the Accounting Firm, which proportionate allocations shall also be determined
by the Accounting Firm at the time the determination of the Accounting Firm is rendered on the merits of the matters submitted. 
 (b) In the
event that the Seller Representative and the Purchaser have been unable to resolve any dispute relating to any valuation pursuant to Section 1.14(c) within 30 days following the delivery of the Sellers’ Valuation Notice of Disagreement,
the Sellers’ Representative and the Purchaser shall submit to an independent valuation firm (the “Valuation Firm”) for arbitration any and all matters that remain in dispute and which were properly included in the
Valuation Notice of Disagreement. The Valuation Firm shall be an independent valuation firm that shall be agreed upon by the Sellers’ Representative and the Purchaser in writing. The Sellers’ Representative and the Purchaser shall use
their respective commercially reasonable efforts to cause the Valuation Firm to render a decision resolving the matters submitted to the Valuation Firm within 30 days following the submission thereof. An order may be entered upon the determination
of the Valuation Firm in any court having jurisdiction over the party against which such determination is to be enforced. The cost of any arbitration (including the fees and expenses of the Valuation Firm and reasonable attorney fees and expenses of
the parties) pursuant to this Section 1.15(b) shall be borne by the Purchaser, on the one hand, and the Sellers, on the other hand, (from the Sellers’ Designated Account, and if there are insufficient funds in such account, then in
accordance with the Sellers’ Specified Percentages) in inverse proportion as each may prevail on matters resolved by the Valuation Firm, which proportionate allocations shall also be determined by the Valuation Firm at the time the
determination of the Valuation Firm is rendered on the merits of the matters submitted. 
 ARTICLE 2 
 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 

Each Seller hereby represents and warrants to the Purchaser, severally as to himself and not jointly, as of the date of this Agreement and as of the
Closing as follows: 
 Section 2.1. Authority; Execution and Delivery; Enforceability Such Seller has duly executed and delivered
this Agreement and prior to the Closing will have duly executed and delivered each Ancillary Agreement to which he is, or is specified to be, a party, and this Agreement constitutes, and each Ancillary Agreement to which he is, or is specified to
be, a party will after the Closing constitute, his legal, valid and binding obligation, enforceable against such Seller in accordance with its terms. 
 Section 2.2. Interests. Such Seller owns the Membership Interest Percentage of the Company set forth beside his name under such heading on Exhibit A, and the Debt Interests set forth beside his name
on Section 3.6(b) of the Seller/Company Disclosure Letter. Such Seller owns, and at the Closing will transfer to the Purchaser, his Interests free and clear of any Liens (except for any restrictions on sales of securities under applicable
securities laws). Such Seller’s Interests are not evidenced by any certificate or otherwise evidenced by any written instrument other than the Operating Agreement and the applicable promissory notes set forth on Section 3.6(b) of the
Seller/Company Disclosure Letter. Such Seller is not a party to any option, warrant, purchase right, or other contract or commitment (other than this Agreement) that would require such Seller to sell, transfer, or otherwise dispose of any Interests.
Such Seller is not a party to any voting trust, proxy, or other agreement or understanding with respect to the voting of any Equity Interests. 
  

 17 

 Section 2.3. No Conflicts; Consents The execution and delivery by such Seller of this
Agreement do not, the execution and delivery by such Seller of each Ancillary Agreement to which he is, or is specified to be, a party will not, and the consummation of the transactions contemplated hereby and thereby and compliance by such Seller
with the terms hereof and thereof will not conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to
loss of a material benefit under, or result in the creation of any Lien upon any of the Interests of such Seller under, any provision of any Contract to which such Seller is a party or by which any of his Interests is bound or (ii) any Order or
any Law applicable to such Seller or his properties or assets. No consent, approval, license, permit, order or authorization (“Consent”) of, or registration, declaration or filing with, any Governmental Entity is required to be
obtained or made by or with respect to such Seller in connection with the execution, delivery and performance of this Agreement or any Ancillary Agreement or the consummation of the transactions contemplated hereby and thereby. 
 Section 2.4. Litigation. There are no Actions pending or threatened in writing by or before any court or other Governmental Authority against
such Seller that bring into question the validity of this Agreement or would reasonably be expected to have a material adverse effect on the ability of such Seller to consummate the transactions contemplated hereby. No injunction, writ, temporary
restraining order, decree or any order of any nature has been issued by any court or other Governmental Authority seeking or purporting to enjoin or restrain the execution, delivery and performance by such Seller of this Agreement or the
consummation by such Seller of the transactions contemplated hereby. 
 Section 2.5. Purchase for Investment. The Stock
Consideration issuable to each Seller under this Agreement is being acquired for such Seller’s own account for the purpose of investment. Each Seller will refrain from transferring or otherwise disposing of any of the Stock Consideration, or
any interest therein, in such manner as to cause the Purchaser to be in violation of the registration requirements of the Act, or applicable state securities or blue sky laws. 
 Section 2.6. Investment Experience. Such Seller understands that the transactions contemplated by this Agreement involve substantial risk.
Without limiting the generality of the foregoing, such Seller has experience as an investor and acknowledges that he can bear the economic risk of his investment in the Stock Consideration for an indefinite period of time, and has such knowledge and
experience in financial and business matters that he is capable of evaluating the merits and risks of the investment in the Stock Consideration and protecting his own interests in connection with such investment. 
 Section 2.7. Restricted Securities. Such Seller understands that the Stock Consideration is characterized as “restricted
securities” under the Act inasmuch as the shares of Purchaser Common Stock are being acquired by such Seller in a transaction not involving a public offering, and that such shares may be resold without registration under the Act only in certain
limited circumstances. Such Seller is familiar with and understands the resale limitations imposed by the Act. Such Seller further understands that the Stock Consideration (together with any securities that may be issued to such Seller from time to
time in respect thereof) are subject to the restrictions on transfer set forth in this Article 2. 
  

 18 

 Section 2.8. Legends. Such Seller understands that the certificates evidencing the Purchaser
Common Stock may bear one or more of the following legends: 
 (a) “These securities have not been registered under the Securities
Act of 1933, as amended. They may not be sold, offered for sale, pledged or hypothecated except pursuant to an effective registration statement in effect with respect to the securities under the Act or unless sold pursuant to Rule 144 of such Act or
in compliance with Regulation S under the Act.” 
 (b) Any legend set forth in the Investors’ Rights Agreement. 
 (c) Any legend required by the Blue Sky laws of any state to the extent such laws are applicable to the Purchaser Common Stock represented by the
certificate so legended. 
 Section 2.9. Brokers’ Fees. No agent, broker, investment banker, finder, financial advisor or
other Person or will be entitled to any broker’s or finder’s fee or any other commission or similar fee from the Sellers in connection with the transactions contemplated by this Agreement. 
 ARTICLE 3 
 REPRESENTATIONS
AND WARRANTIES RELATING TO THE COMPANY 
 Except as set forth in the Seller/Company Disclosure Letter delivered by the Sellers and the Company to the Purchaser dated as of the date hereof (the “Seller/Company Disclosure Letter”), which Seller/Company
Disclosure Letter identifies the Section (or, if applicable, the subsection) to which such exception relates, each Seller hereby represents and warrants to the Purchaser, as of the date of this Agreement and as of the Closing as follows: 

Section 3.1. Organization and Standing. The Company is a limited liability company duly formed, validly existing and in good standing under
the laws of the State of Illinois. The Company has full limited liability company power and authority and possesses all governmental franchises, licenses, permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold
its properties and assets and to carry on its business as currently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which, individually or in the aggregate, would not be material. The conduct of the
Company does not require it to be qualified to do business in any jurisdiction other than the State of Illinois. The Company has made available to the Purchaser prior to the date hereof true and complete copies of the Company’s Constitutive
Documents, in each case as amended through the date of this Agreement. The minute books of the Company, which have been provided to the Purchaser prior to the date hereof, are true and complete. 
 Section 3.2. The Interests; Subsidiaries. 
 (a) The Sellers hold 100% of the Equity Interests of the Company. Except for the Equity Interests, there are no membership interests or other equity interests in the Company issued or outstanding. The Equity Interests
are duly authorized and validly issued and were not issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provisions of the Illinois Limited Liability
Company Act, the Company’s Constitutive Documents or any Contract to which the Company is a party or otherwise bound. There are not any options, warrants, rights, convertible or 

  

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exchangeable securities, “phantom” equity rights, equity appreciation rights, equity-based performance units, commitments, arrangements,
undertakings or Contracts of any kind to which the Sellers or the Company is a party or by which they or their respective assets or properties are bound (i) obligating the Company to issue, deliver or sell, or cause to be issued, delivered or
sold, additional membership or other equity interests in, or any security convertible or exercisable for or exchangeable into any membership or other equity in, the Company, (ii) obligating the Company to issue, grant, extend or enter into any
such option, warrant, call, right, security, commitment, arrangement, undertaking or Contract, (iii) that give any Person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring
to holders of membership or other equity interests of the Company or (iv) that, except as set forth in Section 3.2(a) of the Seller/Company Disclosure Letter, directly or indirectly restrict or limit in any manner the sale or disposition
of the Equity Interests. There are no outstanding obligations of the Company to repurchase, redeem or otherwise acquire any membership or other equity interest in the Company. 
 (b) The Company does not have any Subsidiaries and does not own or control, directly or indirectly, any membership interest, partnership interest, joint
venture interest, or other equity interest in any Person. 
 Section 3.3. Authority; Execution and Delivery; Enforceability. The
Company has full limited liability company power and authority to execute and deliver this Agreement and the Ancillary Agreements to which it is, or is specified to be, a party and to consummate the Acquisition and the other transactions
contemplated hereby and thereby. The execution and delivery by the Company of this Agreement and the Ancillary Agreements to which it is, or is specified to be, a party and the consummation by the Company of the Acquisition and the other
transactions contemplated hereby and thereby have been duly authorized by all necessary limited liability company action. The Company has duly executed and delivered this Agreement and prior to the Closing will have duly executed and delivered each
Ancillary Agreement to which it is, or is specified to be, a party, and this Agreement constitutes, and each Ancillary Agreement to which it is, or is specified to be, a party will after the Closing constitute, its legal, valid and binding
obligation, enforceable against it in accordance with its terms. 
 Section 3.4. No Conflict; Consents. The execution and
delivery by the Company of this Agreement do not, the execution and delivery by the Company of each Ancillary Agreement to which it is, or is specified to be, a party will not, and the consummation of the Acquisition and the other transactions
contemplated hereby and thereby and compliance by the Company with the terms hereof and thereof will not conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of
termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or result in the creation of any Lien upon any of the properties or assets of the Company under, any provision of (i) the Constitutive Documents
of the Company, (ii) except as set forth in Section 3.4 of the Seller/Company Disclosure Letter, any material Contract to which the Company is a party or by which any of its properties or assets is bound or (iii) any Order or any Law
applicable to the Company or its properties or assets. No Consent of, or registration, declaration or filing with, any Governmental Entity is required to be obtained or made by or with respect to the Company in connection with (A) the
execution, delivery and performance of this Agreement or any Ancillary Agreement or the consummation of the transactions contemplated hereby and thereby or (B) the ownership by the Purchaser of the Company immediately following the Closing.

  

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 Section 3.5. Financial Statements. 
 (a) Section 3.5(a) of the Seller/Company Disclosure Letter sets forth (i) the unaudited consolidated balance sheets and profit and loss
statements of the Company as of December 31, 2005 and 2006, and the related statements of cash flows and members’ equity for the respective fiscal years then ended (the “Annual Financial Statements”); and
(ii) the unaudited consolidated balance sheet and profit and loss statements of the Company for the period January 1, 2007 through August 31, 2007, and the related statements of cash flows and members’ equity for the eight months then
ended (the “Interim Financial Statements” and, together with the Annual Financial Statements, the “Financial Statements”). 
 (b) The Company (i) maintains books, records, and accounts that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company, and (ii) the Financial
Statements have been prepared from the books, records and accounts of the Company and fairly present, in all material respects, the financial condition, results of operations and cash flows of the Company as of the respective dates thereof and for
the respective periods indicated. 
 Section 3.6. Undisclosed Liabilities; Indebtedness. 
 (a) The Company does not have any Liabilities, except (i) as disclosed, reflected or reserved against in the Financial Statements and any notes
thereto, (ii) for items set forth in Section 3.6(a) of the Seller/Company Disclosure Letter, (iii) for liabilities and obligations incurred in the Ordinary Course of Business since the date of the Financial Statements and not in
violation of this Agreement, and (iv) for Taxes. 
 (b) Except as set forth in Section 3.6(b) of the Seller/Company Disclosure
Letter, the Company does not have any outstanding Indebtedness. All Indebtedness (other than the Debt Interests) will be terminated prior to the Closing. 
 Section 3.7. Assets other than Real Property Interests. The Company has good and valid title to all the assets (tangible or intangible) reflected on the Financial Statements or thereafter acquired, other
than those disposed of since the date of the Financial Statements in the Ordinary Course of Business and not in violation of this Agreement, in each case free and clear of all Liens, except (i) such Liens as are set forth in Section 3.7 of
the Seller/Company Disclosure Letter (all of which shall be discharged prior to the Closing), and (ii) Permitted Liens. This Section 3.7 does not relate to real property or interests in real property, such items being the subject of
Section 3.8, or to Intellectual Property or interests in Intellectual Property, such items being the subject of Section 3.9. 
 Section 3.8. Real Property. There is no real property or interest in real property, owned in fee by the Company. Section 3.8 of the Seller/Company Disclosure Letter sets forth a complete list of all real property and
interests in real property leased by the Company (individually, a “Leased Property”) and identifies any base leases and reciprocal easement or operating agreements relating thereto. The Company has made available to the
Purchaser prior to the date hereof true and complete copies of all leases and any operating agreements relating to the Leased Properties. The Company has good and valid title to the leasehold estates in all Leased Property, in each case free and
clear of all Liens, except (i) Permitted Liens, (ii) such Liens as are set forth in Section 3.7 of the Seller/Company Disclosure Letter (all of which shall be discharged prior to the Closing) and (iii) leases, subleases and
similar agreements set forth in Section 3.8 of the Seller/Company Disclosure Letter. 
  

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 Section 3.9. Intellectual Property 
 (a) Except as set forth on Section 3.9(a) of the Seller/Company Disclosure Letter, with respect to Intellectual Property owned by the Company, upon
the execution of Intellectual Property assignment agreements by the individuals listed on Section 3.9(a) of the Seller/Company Disclosure Letter, the Company will be the sole and exclusive owner of, and will have the right to use, sell and
license, as the case may be, free and clear of all Liens all Intellectual Property used, sold or licensed by the Company in the business of the Company as presently conducted and as currently proposed to be conducted, except with respect to licenses
of commercial off-the-shelf software. 
 (b) Section 3.9(b) of the Seller/Company Disclosure Letter accurately discloses all games and
other products, and plans therefor, that have been, are being, or are proposed to be, devised, created or originated by or on behalf of the Company. Upon the execution of Intellectual Property assignment agreements by the individuals listed on
Section 3.9(a) of the Seller/Company Disclosure Letter, the Company will be the sole and exclusive owner of, all rights, title and interests in, and will have the right to use, sell and license, as the case may be, free and clear of all Liens,
all games and other products disclosed on Section 3.9(b) of the Seller/Company Disclosure Letter (except as otherwise disclosed on Section 3.9(b) of the Seller/Company Disclosure Letter). 
 (c) To the Knowledge of the Sellers, the products and operation of the business of the Company and the use of Intellectual Property and the tangible
embodiment thereof owned by the Company, and its present and currently proposed business practices and methods, do not infringe, constitute an unauthorized use of, or violate or otherwise conflict with any Intellectual Property right of any third
party. Except as set forth on Section 3.9(c) of the Seller/Company Disclosure Letter, the Intellectual Property owned by or licensed to the Company includes all of the Intellectual Property necessary to enable the Company to conduct its
business in the manner in which such business has been and is currently being conducted, and as currently proposed to be conducted. 
 (d)
Except with respect to licenses of commercial off-the-shelf Software, and except pursuant to the licenses listed in Section 3.9(d) of the Seller/Company Disclosure Letter, the Company is not obligated under any Contract to make any payments by
way of royalties, fees or otherwise to any owner or licensor of, or other claimant to, any Intellectual Property, with respect to the Company’s use thereof in connection with the conduct of its business. 
 (e) Section 3.9(e) of the Seller/Company Disclosure Letter sets forth a complete and correct list of all Patents, registered Marks, pending
applications for registration of any Marks, unregistered Marks currently being used by the Company, registered Copyrights, and pending applications for registration of Copyrights, in each case, owned by the Company, including the jurisdictions in
which such Patents, Marks and Copyrights have been issued or registered or in which such applications have been filed. The Company owns all rights, title and interests in and to all Intellectual Property listed on Section 3.9(e) of the
Seller/Company Disclosure Letter, free and clear of all Liens. All registration, renewal, maintenance and other applicable fees have been timely paid in connection with all issued, registered and applied for Intellectual Property owned by the
Company, and all reasonable actions have been taken for the prosecution and protection of all issued, registered, applied for, and unregistered Intellectual Property owned or licensed by the Company. 
  

 22 

 (f) Except as disclosed in Section 3.9(f) of the Seller/Company Disclosure Letter, the Company has
not licensed any of its owned or licensed Intellectual Property to any Person, nor has the Company entered into any Contract limiting its ability to exploit fully any of its owned or licensed Intellectual Property. 
 (g) Except as disclosed in Section 3.9(g) of the Seller/Company Disclosure Letter, the Company is not the subject of any pending or, to the
Knowledge of the Sellers, threatened action, suit, proceeding, claim, arbitration, mediation or investigation (a “Legal Proceeding”) which involves a claim or notice of infringement of, unauthorized use of, or violation of or
conflict with any Intellectual Property of any third party or challenging the ownership, use, validity, priority, duration, scope, use, right to use or enforceability of any Intellectual Property owned or licensed by the Company, and has not
received written notice of any such threatened claim, and there are no facts or circumstances which are likely to form the basis for any claim of infringement of, unauthorized use of, or violation of or conflict with any Intellectual Property of any
third party or challenging the ownership, use, validity, priority, duration, scope, use, right to use or enforceability of any Intellectual Property owned or licensed by the Company. All material Intellectual Property owned or licensed by the
Company is valid, enforceable and in full force and effect, and has not through action or failure to act lapsed, been abandoned or otherwise been forfeited, or is likely to be forfeited, in whole or in part. 
 (h) To the Knowledge of the Sellers, no third party is infringing, violating, misusing or misappropriating any material Intellectual Property owned or
licensed by the Company. No such claims have been made against a third party by the Company. 
 (i) Except as set forth in
Section 3.9(i) of the Seller/Company Disclosure Schedule, the Company has taken reasonable measures to protect the secrecy and/or confidentiality of all non-public Intellectual Property owned or licensed by the Company, including requiring all
Company employees or consultants with access to such Intellectual Property and all other Persons with access to such Intellectual Property, as necessary, to execute a binding confidentiality agreement. Except as set forth in Section 3.9(i) of
the Seller/Company Disclosure Schedule, the Company has taken reasonable measures to protect the value of all Intellectual Property used in the conduct of the business of the Company, including requiring all Company employees to execute an agreement
which includes provisions sufficient to ensure that the Company becomes the owner of any Intellectual Property created by such employees within the scope of his or her employment, or in the case of a Person other than an employee from the services
such Person performs for the Company. Copies or forms of the agreement or agreements referred to in this clause (i) have been made available to the Purchaser and, to the Knowledge of the Sellers, there has not been a material breach of any such
agreement or agreements. 
 (j) None of the execution and delivery of this Agreement, the consummation of the Sale and the other transactions
contemplated hereby nor the performance by the Company of its obligations hereunder shall materially adversely affect any rights of the Company or any of its Subsidiaries with respect to any Company Intellectual Property, or the validity, priority,
scope, enforceability, use, right to use, ownership, license rights, or duration of any such Intellectual Property rights. 
  

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 Section 3.10. Contracts. 
 (a) Section 3.10(a) of the Seller/Company Disclosure Letter (with paragraph references corresponding to those set forth below) contains a true and
complete list of each of the following Contracts, to which the Company is a party or by which any of its properties or assets is bound (each such Contract, whether or not set forth in such section of the Seller/Company Disclosure Letter, a
“Material Contract”): 
 (i) all employment agreements; 
 (ii) all consulting and work-for-hire agreements; 
 (iii) all collective bargaining agreements or other Contracts with any labor organization, union or association; 
 (iv) all Contracts containing (A) any provision or covenant purporting to prohibit or limit the ability of the Company to engage in
any business activity or compete with any Person or purporting to prohibit or limit the ability of any Person to compete with the Company, in either case in any geographic area or for any current or potential customers anywhere in the world and
(B) all Contracts containing any standstill or similar obligation of the Company to a third party or of a third party to the Company; 
 (v) all Contracts (A) containing any “most favored nations” or similar right in favor of any party other than the Company or (B) containing any right of any party thereto other than the Company to
terminate such contract or containing any other consequence upon a “change of control” of the Company; 
 (vi) all
customer Contracts with active customers of the Company to whom the Company has the obligation to deliver products or services where the aggregate amount to be paid to the Company by such customer over the entire term of all such Contracts with such
customer exceeds $5,000 (it being understood and agreed by the parties that Section 3.10(a)(vi) of the Seller/Company Disclosure Letter shall set forth the names of each such customer and the aggregate value of the customer Contracts with such
customer only, but such Contracts shall nonetheless constitute “Material Contracts” for purposes of this Agreement); 
 (vii) all Contracts (other than this Agreement) with (A) the Sellers or any Affiliate of any Sellers or (B) any officer or employee of the Company, any Seller, or any Affiliate of any Seller (other than employment agreements
covered by clause (i) above); 
 (viii) all leases, subleases or similar Contracts with any Person under which the
Company is a lessor or sublessor of, or makes available for use to any Person, (A) any Leased Property or (B) any portion of any premises otherwise occupied by the Company; 
 (ix) all leases, subleases or similar Contracts with any Person under which (A) the Company is lessee of, or holds or uses, any
machinery, equipment, vehicle or other tangible personal property owned by any Person or (B) the Company is a lessor or sublessor of, or makes available for use by any Person, any tangible personal property owned or leased by the Company, in
any such case which has an aggregate future liability or receivable, as the case may be, in excess of $5,000; 
 (x) other
than any licenses of third-party commercial off-the-shelf Software, all material licenses, sublicenses, options or other agreements relating in whole or in part 

  

 24 

 
to the Company Intellectual Property (including any material licenses or other agreements under which the Company is licensee or licensor of any Company
Intellectual Property); 
 (xi) all Contracts (A) with respect to any Indebtedness of the Company, (B) granting a
Lien upon any Leased Property or any other asset of the Company or (C) under which any Person has directly or indirectly guaranteed Liabilities of the Company; 
 (xii) all Contracts under which the Company has, directly or indirectly, made any advance, loan, extension of credit or capital
contribution to, or other investment in, any Person; 
 (xiii) all Contracts (A) for the sale of any substantial portion
of the assets of the Company or the grant of any preferential rights to purchase any such assets or requiring the Consent of any party to the transfer thereof or (B) providing for any obligations of any Person for the payment of any deferred or
conditional purchase price or purchase price adjustment with respect to the disposition of, or for the indemnification of any Person with respect to any Liabilities relating to, any current or former business of the Company; 
 (xiv) all Contracts (A) with, or license or Permit by or from, any Governmental Entity or (B) for any joint venture, partnership
or similar arrangement; 
 (xv) all Contracts (including purchase orders, vendor agreements, advertising agreements, dealer,
distributor, sales representative, franchisee or similar agreements) of a type not otherwise covered by another clause of this Section 3.10(a) (without regard to materiality and value thresholds contained therein), involving payment by the
Company of more than $5,000, other than purchase orders entered into in the Ordinary Course of Business after the date of this Agreement and not in violation of this Agreement; and 
 (xvi) Contract providing for indemnification of any officer of the Company (other than the Constitutive Documents of the Company);

 (b) Each Material Contract is in full force and effect and constitutes a legal, valid and binding agreement of each party thereto,
enforceable by the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other laws affecting creditors’ rights generally and general principles of equity (whether
considered in a proceeding at law or in equity). The Company has performed all obligations required to be performed by it to date under the Material Contracts, and it is not (with or without the lapse of time or the giving of notice, or both) in
breach or default in any material respect thereunder and, to the Knowledge of the Sellers, no other party to any Material Contract is (with or without the lapse of time or the giving of notice, or both) in breach or default in any material respect
thereunder. None of the Sellers or the Company has, except as disclosed in the applicable subsection of Section 3.10 of the Seller/Company Disclosure Letter, received any written notice of the intention of any party to terminate any Material
Contract. True and complete copies of each unwritten Material Contract and reasonably complete and accurate written descriptions of each written Material Contract, together with all amendments and supplements thereto and all waivers of any terms
thereof, have been made available to the Purchaser prior to the date hereof. 
  

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 Section 3.11. Permits. The Company possesses all Permits necessary to own or hold under lease
and operate its assets and to conduct the business of the Company as currently conducted. Section 3.11 of the Seller/Company Disclosure Letter sets forth all material federal, state or local, domestic or foreign, governmental Consents,
approvals, orders, authorizations, certificates, filings, notices, permits, concessions, registrations, franchises, licenses or rights (“Permits”) issued or granted to the Company. Except as set forth in Section 3.11 of the
Seller/Company Disclosure Letter, (i) all such Permits are validly held by the Company in its own name, and the Company has complied in all material respects with all terms and conditions thereof; (ii) none of the Sellers or the Company
has received written or oral notice of any Proceeding relating to the revocation or modification of any such Permits the loss of which, individually or in the aggregate, would be material; and (iii) none of such Permits will be subject to
suspension, modification, revocation or nonrenewal as a result of the execution and delivery of this Agreement and the Ancillary Agreements or the consummation of the Acquisition and the other transactions contemplated hereby and thereby.

 Section 3.12. Insurance. The Company maintains policies of fire and casualty, liability and other forms of insurance in such
amounts, with such deductibles and against such risks and losses as are, in the Company’s judgment, reasonable for the business and assets of the Company, which insurance policies are set forth in Section 3.12 of the Seller/Company
Disclosure Letter. All such policies are in full force and effect, all premiums due and payable thereon have been paid, and no notice of cancellation or termination has been received with respect to any such policy. There is no claim pending under
any such policy as to which coverage has been questioned, denied or disputed by the underwriter of such policy. Each such policy will continue to be enforceable and in full force and effect immediately following the Closing in accordance with the
terms thereof as in effect as of the date hereof. 
 Section 3.13. Taxes. 
 (a) (i) The Company has filed or caused to be filed in a timely manner (within any applicable extension periods) all Tax Returns required by
applicable tax Laws, (ii) all Taxes with respect to taxable periods covered by such Tax Returns, and all other Taxes for which the Company is or might otherwise be liable for periods prior to the date hereof have been timely paid in full or
will be timely paid in full by the due date thereof (if the due date is prior to the Closing) and the Financial Statements reflects an adequate reserve for all Taxes payable by the Company for all taxable periods and portions thereof through the
date of the Financial Statements, and (iii) there are no Liens for Taxes with respect to any of the assets or properties of the Company, other than Permitted Liens. 
 (b) No Tax Return of the Company is under audit or examination by any Taxing Authority. No written or unwritten notice of such an audit or examination has been received by the Company. 
 (c) Each deficiency resulting from any audit or examination relating to Taxes by any Taxing Authority has been timely paid. No material issues relating
to Taxes were raised by the relevant Taxing Authority in any completed audit or examination that can reasonable be expected to recur in a later taxable period. 
 (d) The Company is not a party to or bound by any tax sharing agreement, tax indemnity obligation or similar agreement, arrangement or practice with respect to Taxes (including any advance pricing agreement, closing
agreement or other agreement relating to Taxes with any Taxing Authority). 
  

 26 

 (e) There are no outstanding agreements or waivers extending, or having the effect of extending, the
statutory period of limitation applicable to any material Tax Returns required to be filed with respect to the Company, (ii) the Company has not requested any extension of time within which to file any material Tax Return, which return has not
yet been filed, and (iii) no power of attorney with respect to any Taxes has been executed or filed with any Taxing Authority by or on behalf of the Company. 
 (f) The Company has complied in all material respects with all applicable Laws relating to the payment and withholding of Taxes (including withholding of Taxes pursuant to Sections 1441, 1442, 3121 and 3402 of the
Code or any comparable provision of any state, local or foreign laws) and have, within the time and in the manner prescribed by applicable Law, withheld from and paid over to the proper Taxing Authorities all amounts required to be so withheld and
paid over under applicable Laws. 
 (g) The Company has made available to the Purchaser for inspection true and complete copies of all
material Tax Returns of the Company relating to Taxes for all taxable periods for which the applicable statute of limitations has not yet expired. 
 (h) No Seller is a “foreign person” within the meaning of Section 1445 of the Code. 
 (i) The Company has not
participated in any “listed transactions” described in Section 1.6011-4(b)(2) of the Treasury Regulations or any similar provision of any applicable law. 
 (j) The Company has been treated as, and qualified as, a partnership for United States federal and state income tax purposes at all times since its formation. 
 Section 3.14. Litigation. There is no Action before any Governmental Body pending or, to the Knowledge of the Sellers, threatened, or any
Proceeding to which the Company or any Seller is a party, that (i) materially affects the Company or any of its assets; or (ii) questions the validity of this Agreement or the other Ancillary Agreements to which any Seller is a party, or
the Sellers’ right to enter into this Agreement or the other Ancillary Agreements to which each Seller is a party or to consummate the transactions contemplated hereby or thereby. The Company is not party to and the Company is not subject to or
in default under any Order; and there is no Proceeding or claim by the Company pending, or which the Company intends to initiate, against any other Person. 
 Section 3.15. Employee Benefit Plans. 
 (a) Section 3.15(a) of the Seller/Company Disclosure
Letter contains a list and brief description of all Employee Benefit Plans, and the Company has delivered to the Purchaser true and complete copies of each Employee Benefit Plan. Except the medical and dental plans listed in Section 3.15(a) of
the Seller/Company Disclosure Letter, none of the Employee Benefit Plans constitutes, and neither the Company nor any ERISA Affiliate has ever sponsored, maintained, or been required to contribute to, an “Employee Benefit Plan” as defined
in Section 3(3) of ERISA. 
  

 27 

 (b) Each Employee Benefit Plan has been administered in all material respects in accordance with its
terms and applicable Law. There are no lawsuits, actions, or other proceedings pending or threatened with respect to any Employee Benefit Plan. 
 (c) The Company has not offered to provide health or life insurance coverage to any individual, or to the family members or beneficiaries of any individual, for any period extending beyond the termination of the individual’s employment
by the Company, except to the extent required by the health care continuation (also known as “COBRA”) provisions of ERISA and the Code or similar state benefit continuation Laws. Each Employee Benefit Plan that is a group health plan, as
such term is defined in Section 5000(b)(1) of the Code, complies in all material respects with Sections 601 et seq. and 701 et seq. of ERISA and Section 4980B and Subtitle K of the Code. No Employee Benefit Plan is a “multiple
employer welfare arrangement” within the meaning of section 3(41) of ERISA. 
 (d) Neither the execution and delivery of this Agreement,
nor the consummation of the Acquisition or the other transactions contemplated thereby alone or in connection will result in the payment, vesting, or acceleration of any bonus, stock option or other equity-based award, retirement, severance, job
security or similar benefit or any enhanced benefit to any Person. No benefit that is or may become payable by any Employee Benefit Plan as a result of, or arising under, this Agreement shall constitute an “excess parachute payment” (as
defined in section 280G(b)(1) of the Code) that is subject to the imposition of an excise tax under section 4999 of the Code or that would not be deductible by reason of section 280G of the Code. 
 (e) Since the Company’s formation, no Person is or has been a Person which is (or at any relevant time was) an ERISA Affiliate. 
 (f) Neither the Company nor any Affiliate thereof has a formal plan, commitment, or proposal, whether legally binding or not, or has made a commitment to
any individual to create any additional Employee Benefit Plan or modify or change any existing Employee Benefit Plan that would affect any current employee or consultant, or former employee, of the Company, or any beneficiary or alternate payee of
such an individual. No events have occurred or are expected to occur with respect to any Employee Benefit Plan that would cause a material change in the cost of providing the benefits under such plan or would cause a material change in the cost of
providing for other liabilities of such plan. 
 Section 3.16. Absence of Changes or Events. Since December 31, 2006, there
has not occurred any Company Material Adverse Effect. Since December 31, 2006, (i) the business of the Company has been conducted in the Ordinary Course of Business, (ii) the Company has not suffered any damage, destruction or loss
(whether or not covered by insurance) to any of its assets, whether tangible or intangible, and (iii) except as set forth in Section 3.16(iii) of the Seller/Company Disclosure Letter, the Company has not taken any action that, if taken
after the date of this Agreement, would constitute a breach of Section 5.1. 
 Section 3.17. Compliance with Laws.

 (a) The Company has, since its inception, been in compliance in all material respects with all applicable Orders and all material
applicable Laws. Since August 10, 2005, neither any of the Sellers nor the Company has received any written or oral notice or other communication from any Person that alleges that the Company is not in compliance in any 

  

 28 

 
material respect with any applicable Order or material applicable Law. This Section 3.17(a) does not relate to (i) matters with respect to Taxes,
which are the subject of Section 3.13; (ii) matters with respect to ERISA, which are the subject of Section 3.15; or (iii) matters with respect to environmental matters, which are the subject of Section 3.17(b). 

(b) Since the Company’s inception, none of the Sellers or the Company has received any written or oral communication from any Person that alleges
that the Company is not in compliance in any material respect with any Environmental Law or subject to liability under any Environmental Law. The Company holds, and is in compliance with, all Permits required for the Company to conduct its business
under Environmental Laws, and is in compliance in all material respects with all Environmental Laws. The Company has not entered into or agreed to, and are not subject to, any Order relating to compliance with any Environmental Law or to
investigation or cleanup of Hazardous Material. Except as set forth in Section 3.17(b) of the Seller/Company Disclosure Letter, the Company has no contingent liabilities including any assumed, whether by contract or operation of law,
liabilities or obligations, in connection with any Hazardous Materials or arising under any Environmental Laws in connection with its business or any formerly owned or operated divisions, subsidiaries, or companies. The Company has never owned,
leased or operated any real property other than the Leased Properties. The Company has not disposed of, or arranged for the disposal of, Hazardous Materials at any onsite or offsite location, and to the Knowledge of the Sellers, there has not been
any Release of Hazardous Materials on, at or under any of the Leased Properties or any other property or facility formerly owned, leased or operated by the Company or any of its predecessors. 
 Section 3.18. Employee and Labor Matters. 
 (a) There is not, and during the past two years there has not been, any labor strike, dispute, work stoppage or lockout pending or threatened, against or affecting the Company. No union organizational campaign is in
progress with respect to the employees of the Company and no question concerning representation of such employees exists. The Company is not engaged in any unfair labor practice and there are not any unfair labor practice charges or complaints
against the Company pending or threatened, before the National Labor Relations Board. There are not any pending or threatened, union grievances against the Company. There are not any pending or threatened, charges against the Company before the
Equal Employment Opportunity Commission or any state or local agency responsible for the prevention of unlawful employment practices. Neither any of the Sellers nor the Company has received any written or oral notice or other communication during
the past two years of the intent of any Governmental Entity responsible for the enforcement of labor or employment laws to conduct an investigation of or affecting the Company and no such investigation is in progress. 
 (b) Section 3.18(b) of the Seller/Company Disclosure Letter sets forth the name of each employee and consultant of the Company as of the date
hereof, together with the current job title or relationship to the Company and the current annual salary (including bonus) for each such Person, including a description of applicable bonus plans. 
 Section 3.19. Transactions with Affiliates. Section 3.19 of the Seller/Company Disclosure Letter describes any transaction during the
past three years between the Company, on the one hand, and any of the Sellers or Affiliate (other than the Company) of any Seller, on the other hand. Except as set forth in Section 3.19 of the Seller/Company Disclosure Letter, none of the
transactions or arrangements described in Section 3.19 of the Seller/Company Disclosure 

  

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Letter will continue in effect subsequent to the Closing. After the Closing none of the Sellers or any Affiliate of any Seller (other than the Company) will
have any interest in any property (real or personal, tangible or intangible) or Contract of the Company used in, pertaining to or necessary for the Company’s business, except as set forth in Section 3.19 of the Seller/Company Disclosure
Letter. 
 Section 3.20. Corporate Name. The Company (i) has the exclusive right to use its name as the name of a limited
liability company in Illinois and (ii) has not received any notice of conflict since its formation with respect to the rights of others regarding the corporate name of the Company. 
 Section 3.21. Accounts Receivable. All customer accounts receivable of the Company, whether reflected in the Financial Statements or
subsequently created, have arisen from bona fide transactions in the Ordinary Course of Business. During the twelve months prior to the date of this Agreement, there have not been any write-offs of such customer accounts receivable, except for
write-offs in the Ordinary Course of Business that have not exceeded $5,000, in the aggregate. The Company has good and marketable title to its customer accounts receivable, free and clear of all Liens, other than Permitted Liens. 
 Section 3.22. Suppliers and Customers. Since December 31, 2006: (i) none of the Company’s top 10 vendors (based upon the
aggregate payments by the Company to such vendors for the 12 months ended December 31, 2006) has given the Company written notice that such vendor will cease to supply or adversely change its price or terms to the Company of any products or
services and (ii) none of the Company’s top 10 customers (based on the aggregate revenue attributable to each such customer for the 12 months ended December 31, 2006) has given the Company written notice that such customer will cease
to purchase or adversely change the quantity purchased from the Company of any products or services. 
 Section 3.23. Brokers. No
agent, broker, investment banker or other firm or Person is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee in connection with any of the transactions contemplated by this Agreement with respect
to the Company. 
 Section 3.24. Accounts; Safe Deposit Boxes; Powers of Attorney. Set forth on Section 3.24 of the
Seller/Company Disclosure Letter are (i) a true and complete list of all bank and savings accounts, certificates of deposit and safe deposit boxes of the Company and those persons authorized to sign thereon, and (ii) a true and complete
list of all powers of attorney granted by the Company and those Persons authorized to act thereunder. 
 ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES OF THE
PURCHASER 
 Except as set forth in the Purchaser Disclosure Letter delivered by the Purchaser to the
Sellers dated as of the date hereof (the “Purchaser Disclosure Letter”), which Purchaser Disclosure Letter identifies the Section (or, if applicable, the subsection) to which such exception relates, the Purchaser hereby represents
and warrants to the Sellers, as of the date of this Agreement and as of the Closing as follows: 
 Section 4.1. Organization. The
Purchaser is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of Delaware. The Purchaser has made 

  

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available to the Company complete and correct copies of its certificate of incorporation and bylaws, with all amendments thereto, as in effect on the date of
this Agreement and the Closing Date. 
 Section 4.2. Authority; Execution and Delivery; Enforceability. The Purchaser has full
corporate power and authority to execute and deliver this Agreement and the Ancillary Agreements to which it is, or is specified to be, a party and to consummate the Acquisition and the other transactions contemplated hereby and thereby. The
execution and delivery by the Purchaser of this Agreement and the Ancillary Agreements to which it is, or is specified to be, a party and the consummation by the Purchaser of the Acquisition and the other transactions contemplated hereby and thereby
have been duly authorized by all necessary corporate action. The Purchaser has duly executed and delivered this Agreement and prior to the Closing will have duly executed and delivered each Ancillary Agreement to which it is, or is specified to be,
a party, and this Agreement constitutes, and each Ancillary Agreement to which it is, or is specified to be, a party will after the Closing constitute, its legal, valid and binding obligation, enforceable against it in accordance with its terms.

 Section 4.3. Capitalization. As of the date hereof, the authorized and issued and outstanding capital stock of the Purchaser,
including the number of shares, options, warrants or similar rights held by each holder thereof, is as set forth in Section 4.3 of the Purchaser Disclosure Letter. All issued and outstanding shares of capital stock of the Purchaser have been
duly authorized and validly issued and are fully paid and non-assessable. Except as set forth on Section 4.3 of the Purchaser Disclosure Letter, as of the date hereof, there are no outstanding securities convertible into or exchangeable for the
capital stock of the Purchaser, or warrants to purchase or to subscribe for any shares of such stock or other securities of the Purchaser. As of the date hereof, there are no outstanding agreements affecting or relating to the voting, issuance,
purchase, redemption, repurchase, transfer or registration for sale under the Act of any securities of the Company, except as contemplated hereunder or described on Section 4.3 of the Purchaser Disclosure Letter. The rights, privileges and
preferences of the Purchaser’s capital stock as of the Closing are as stated in the certificate of incorporation and bylaws of the Purchaser. 
 Section 4.4. No Conflict; Consents. Except as would result in a Purchaser Material Adverse Effect, the execution and delivery by the Purchaser of this Agreement do not, the execution and delivery by the Purchaser of each
Ancillary Agreement will not, and the consummation of the Acquisition and the other transactions contemplated hereby and thereby and compliance by the Purchaser with the terms hereof and thereof will not conflict with, or result in any violation of
or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a benefit under, or result in the creation of any Lien upon any of the
properties or assets of the Purchaser under, any provision of (i) the Constitutive Documents of the Purchaser, (ii) except as set forth in Section 4.4 of the Purchaser Disclosure Letter, any Contract to which the Purchaser is a party
or by which any of its properties or assets is bound, or (iii) any Order or any Law applicable to the Purchaser or its properties or assets. Except as would result in a Purchaser Material Adverse Effect, no Consent of, or registration,
declaration or filing with, any Governmental Entity is required to be obtained or made by or with respect to the Purchaser in connection with (A) the execution, delivery and performance of this Agreement or any Ancillary Agreement or the
consummation of the transactions contemplated hereby and thereby or (B) the ownership by the Purchaser of the Company immediately following the Closing. 
  

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 Section 4.5. Litigation. Except as set forth on Section 4.5 of the Purchaser Disclosure
Letter, there is no Action before any Governmental Body or any Proceeding pending or, to the Purchaser’s knowledge, threatened, to which the Purchaser is a party, that might have, either individually or in the aggregate, a Purchaser Material
Adverse Effect, questions the validity of this Agreement or the other Ancillary Agreements to which the Purchaser is a party, or the Purchaser’s right to enter into this Agreement or the other Ancillary Agreements to which it is a party or to
consummate the transactions contemplated hereby or thereby. Except as set forth on Section 4.5 of the Purchaser Disclosure Letter, the Purchaser is not a party to and the Purchaser is not subject to or in default under any Order, and there is
no Proceeding or claim by the Company pending, or which the Company intends to initiate, against any other Person. 
 Section 4.6.
Securities Act. The Equity Interests purchased by the Purchaser pursuant to this Agreement are being acquired for investment only and not with a view to any public distribution thereof, and the Purchaser shall not offer to sell or otherwise
dispose of the Equity Interests so acquired by it in violation of any of the registration requirements of the Act. 
 Section 4.7.
Brokers. No agent, broker, investment banker or other firm or Person is or will be entitled to any broker’s or finder’s fee or any other commission or similar fee in connection with any of the transactions contemplated by this
Agreement with respect to the Purchaser. 
 Section 4.8. Financial Condition. The Purchaser has or will have adequate financing or
financial resources available to consummate the transactions contemplated by this Agreement, including the payment of the Purchase Price hereunder. The Purchaser has delivered to the Sellers (i) copies of the unaudited consolidated balance
sheet and profit and loss statement of the Purchaser and its subsidiaries and the related statement of cash flows and stockholders’ equity, as of and for the fiscal year ended December 31, 2006, and (ii) copies of the unaudited
consolidated balance sheet and profit and loss statement of the Purchaser and its subsidiaries for the six months ended June 30, 2007 (the financial statements in (i) and (ii) collectively, the “Purchaser Financial
Statements”). The Purchaser Financial Statements have been prepared from the books, records and accounts of the Company and fairly present, in all material respects, the financial condition, results of operations and cash flows of the
Purchaser as of the respective dates thereof and for the respective periods indicated. 
 Section 4.9. Contracts. The Purchaser
is not in material breach of any material Contract which would impair its ability to perform its obligations under this Agreement in any way. 
 ARTICLE 5 
 COVENANTS 
 Section 5.1. Covenants Relating to Conduct of Business. 
 (a) Except for matters set forth in Section 5.1 of the Seller/Company Disclosure Letter or otherwise required by the terms of this Agreement, from the date of this Agreement to the Closing, the Sellers shall
cause the business of the Company to be conducted and the business of the Company shall be conducted in the usual, regular and ordinary course in substantially the same manner as previously conducted (including with respect to advertising,
promotions and capital expenditures) and, to the extent consistent therewith, use all 

  

 32 

 
commercially reasonable efforts to keep intact the Company’s business, keep available the services of the Company’s current employees and preserve
the Company’s relationships with customers, suppliers, licensors, licensees, distributors and others with whom it deals to the end that the Company’s business shall be unimpaired at the Closing. The Sellers shall not, and shall not permit
the Company to, and the Company shall not, take any action that would, or that could reasonably be expected to, result in any of the conditions to the purchase and sale of the Interests set forth in Article 6 not being satisfied. In addition (and
without limiting the generality of the foregoing), except as set forth in Section 5.1 of the Seller/Company Disclosure Letter or otherwise expressly permitted or required by the terms of this Agreement), the Sellers shall not permit the Company
to and the Company shall not do any of the following without the prior written consent of the Purchaser: 
 (i) amend its
Constitutive Documents; 
 (ii) declare or pay any dividend or make any other distribution to its members; 
 (iii) redeem or otherwise acquire, or issue, any membership or other equity interests; 
 (iv) adopt or amend any Employee Benefit Plan (or any plan that would be an Employee Benefit Plan if adopted) or enter into or amend any
collective bargaining agreement or other Contract with any labor organization, union or association, except in each case as required by applicable Law; 
 (v) (A) pay or provide to any Employee any bonus, other amount or other benefit, or make any advance or loan to any Employee, not provided for under any Contract or Employee Benefit Plan in effect on the date of
this Agreement other than the payment of base compensation or advances for business expenses in the Ordinary Course of Business, (B) grant to any Employee any increase in compensation (including any increase in severance or termination pay)
except to the extent required under existing consulting or work-for-hire agreements, (C) enter into any employment, consulting, indemnification, severance or termination agreement with any Employee, (D) establish, adopt, enter into or
amend in any material respect any collective bargaining agreement or Employee Benefit Plan or (E) take any action to accelerate the vesting or payment of any compensation or benefit under any Contract or Employee Benefit Plan or to fund or in
any other way secure the payment of compensation or benefits under any Contract or Employee Benefit Plan or make any material determinations not in the Ordinary Course of Business; 
 (vi) except as may be required under existing agreements, grant to any Employee any increase in compensation or benefits; 
 (vii) permit, allow or suffer any of its assets to become subjected to any Lien of any nature whatsoever; 
 (viii) enter into any Contract (or any substantially related Contracts, taken together) that would, if it were in effect as of the date of
this Agreement, be required to be disclosed in any subsection of Sections 3.9 or 3.10(a) of the Seller/Company Disclosure Letter; 
 (ix) cancel any Indebtedness owed to the Company (individually or in the aggregate) or waive any claims or rights of substantial value; 
  

 33 

 (x) pay, loan or advance any amount to, or sell, transfer or lease any of its assets to,
or enter into any agreement or arrangement with, the Sellers; 
 (xi) (A) make any change in any method of accounting or
accounting practice or policy other than those required by GAAP or (B) make any election to be classified as a corporation or association under applicable Tax Law for income or franchise Tax purposes; 
 (xii) acquire by merging or consolidating with, or by purchasing a substantial portion of the assets of, or by any other manner, any
business or any corporation, partnership, association or other business organization or division thereof or otherwise acquire any assets (other than inventory in the Ordinary Course of Business); 
 (xiii) make or incur any capital expenditures that would result in the aggregate amount of the Company’s capital expenditures since
May 7, 2007 exceeding $5,000, except as set forth on Section 5.1(a)(xiii) of the Seller/Company Disclosure Letter. 
 (xiv) sell, lease, license or otherwise dispose of any of its assets, except in the Ordinary Course of Business; 
 (xv) enter into any lease of real property; or 
 (xvi) authorize any of, or commit or agree to take,
whether in writing or otherwise, to do any of, the foregoing actions. 
 (b) Affirmative Covenants. Until the Closing, the Sellers
shall cause the Company to: 
 (i) maintain its assets in the Ordinary Course of Business in good operating order and
condition, reasonable wear and tear excepted; and 
 (ii) upon any damage, destruction or loss to any material asset,
apply any and all insurance proceeds received with respect thereto to the prompt repair, replacement and restoration thereof to the condition of such asset before such event or, if required, to such other (better) condition as may be required by
applicable Law. 
 (c) Insurance. The Sellers shall keep, or cause to be kept, all insurance policies set forth in Section 3.12
of the Seller/Company Disclosure Letter or suitable replacements therefor, in full force and effect through the close of business on the Closing Date. 
 Section 5.2. Non-Competition. 
 (a) Each of the Purchaser and each of the Sellers acknowledges
and recognizes the highly competitive nature of the businesses of the Company. Accordingly, in consideration of the transactions contemplated by this Agreement and the premises contained herein, each of the Sellers agrees that he shall not, at any
time during the two-year period immediately following the Closing Date (except in the case of Ed Suchocki, who shall be subject to the provisions of this Section 5.2(a) for a period of one year): 
 (i) directly or indirectly, engage or have any ownership interest in, or be employed by or associated in any manner with, or render
services or advice to, any of the companies listed on Schedule 5.2(a)(i) to this Agreement or any of their Affiliates; 

  

 34 

 
provided, however, that the foregoing shall not be violated by any of the Sellers (x) owning, directly or indirectly, solely as an investment,
securities of any such company or its affiliates if such company is publicly traded and if such Seller does not, directly or indirectly, beneficially own 1% or more of any class of securities of such company; 
 (ii) other than as set forth in clause (i) above, directly or indirectly initiate or engage in, or have any ownership interest in, or
be employed by or associated in any manner connected with, or render services or advice to, any Restricted Business (as defined below); provided, however, that the foregoing shall not be violated by any of the Sellers owning, directly or
indirectly, solely as an investment, securities of any Restricted Business which are publicly traded if such Seller does not, directly or indirectly, beneficially own 1% or more of any class of securities of such Restricted Business; and
provided, further, that, Purchaser agrees that, Right Hand Technologies shall not be prohibited under this Section 5.2 from providing services or products, or otherwise engaging in a business activity that would constitute a Restricted
Business, solely to the Purchaser and its Affiliates; 
 (iii) directly or indirectly, either as principal, agent, independent
contractor, consultant, director, officer, employee, employer, advisor (whether paid or unpaid), shareholder, partner or in any other individual or representative capacity whatsoever, either for his or its own benefit or for the benefit of any other
Person, solicit, divert or take away any suppliers or customers the Purchaser or any of its Affiliates; or 
 (iv) directly or
indirectly, either as principal, agent, independent contractor, consultant, director, officer, employee, employer, advisor (whether paid or unpaid), shareholder, partner or in any other individual or representative capacity whatsoever, either for
his or its own benefit or for the benefit of any other person or entity, either (A) hire, attempt to hire, contact or solicit with respect to hiring, any employee of the Purchaser or any of its Affiliates, (B) induce or otherwise counsel,
advise or encourage any employee of Purchaser or any of its Affiliates to leave the employment of the Purchaser or any of its Affiliates or (C) induce any representative or agent of the Purchaser or any of its Affiliates to terminate or modify
its relationship with the Purchaser or any such Affiliates. 
 For purposes of Section 5.2(a)(ii) above, “Restricted
Business” shall mean (A) any business that develops, manufactures, or sells interactive video multi-game amusement-only entertainment devices (other than devices marketed for personal use at home and in other non-public places) located
on countertops and operated with a touch screen that operate wired or wirelessly, and directly or indirectly, accept payment via coins, paper money tokens, credit cards or other payment systems and may or may not be connected to a jukebox (a
“Video Game Console Business”), and (B) any business that develops, manufactures, or sells digital jukeboxes other than digital jukeboxes that utilize compact discs as the music source (a “Jukebox Business”);
provided, however, that a Seller shall not be deemed to be participating in a “Restricted Business” under Section 5.2(a)(ii) if such Seller is or becomes employed by or associated in any manner with, or renders services or
advice to (collectively, “Services”), a division or subsidiary of a multi-business enterprise that engages, at the time of commencement of such Seller’s Services or at any time during the provision of Services, in a Jukebox
Business (but not a Video Game Console Business) so long as such Seller (x) in no way, directly or indirectly, provides Services to that portion of the multi-business enterprise that constitutes the 

  

 35 

 
Jukebox Business, and (y) notifies the Purchaser at least five Business Days in advance of commencing to provide such Services (or, if the enterprise
begins to engage in a Jukebox Business at a later time, within five Business Days of such Seller becoming aware thereof. 
 (b) It is the
desire and intent of the parties hereto that the provisions of this Section 5.3 shall be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly,
although the Sellers and the Purchaser consider the restrictions contained in this Section 5.2 to be reasonable, if any particular provision of this Section 5.2 shall be adjudicated to be invalid or unenforceable, such provision shall be
deemed amended to delete therefrom the portion thus adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made.

 (c) The parties hereto acknowledge that each party’s damages at law would be an inadequate remedy for the breach by a Seller of any
provision of this Section 5.2, and agree in the event of such breach that the Purchaser may seek temporary and permanent injunctive relief restraining such Seller from such breach, and, to the extent permissible under applicable statutes and
rules of procedure, a temporary injunction may be granted immediately upon the commencement of any such suit. Nothing contained in this Agreement shall be construed as prohibiting the Purchaser from pursuing other remedies available at law or equity
for such breach or threatened breach of this Section 5.2. 
 Section 5.3. Access to Information. The Sellers shall, and
shall cause the Company to, afford to the Purchaser and its accountants, counsel and other representatives reasonable access in the Company’s Elk Grove Village, Illinois office, upon reasonable notice during normal business hours during the
period prior to the Closing, to all the personnel, properties, books, contracts, commitments, Tax Returns and records of the Company, and, during such period shall furnish promptly to the Purchaser any information concerning the Company as the
Purchaser may reasonably request. 
 Section 5.4. Confidentiality. For the two-year period immediately following the Closing
Date, each Seller shall keep confidential, and cause its Affiliates to keep confidential, all information relating to the Company, the business conducted by the Company, or the Purchaser (“Confidential Information”), except
(A) as required by Law or administrative process, (B) for information that is available to the public on the Closing Date, or thereafter becomes available to the public other than as a result of a breach of this Section 5.4 by such
Seller or by any Person in violation of a confidentiality obligation, and (C) for information that such Seller can demonstrate by tangible evidence is independently developed by such Seller without access to the Confidential Information.

 Section 5.5. Commercially Reasonable Efforts. On the terms and subject to the conditions of this Agreement, each of the
Sellers and the Purchaser shall use its commercially reasonable efforts to bring about the fulfillment of each of the conditions precedent to the obligations of the other set forth in this Agreement. 
 Section 5.6. Expenses; Transfer Taxes. Whether or not the Closing takes place, and except as set forth in Section 5.8 and Article 8, all
costs and expenses incurred in connection with this Agreement and the Ancillary Agreements and the transactions contemplated hereby and thereby shall be paid by the party incurring such expense. All transfer, documentary, sales, use, stamp,
registration, value added and other such Taxes and fees (including penalties and interest) 

  

 36 

 
applicable to the transfer of the Interests (including any real property transfer tax and similar Tax) shall be paid by the Sellers. Each of the Sellers and
the Purchaser shall use reasonable efforts to avail itself of any available exemptions from any such Taxes or fees, and to cooperate with the other parties in providing any information and documentation that may be necessary to obtain such
exemptions. 
 Section 5.7. Tax Matters. 
 (a) The Purchaser and the Sellers agree to furnish or cause to be furnished to each other, upon request, as promptly as practicable, such information and assistance relating to the Company and its assets (including
access to books and records) as is reasonably necessary for the filing of all Tax Returns (including any Tax Returns to be filed by the Sellers), the making of any election relating to Taxes, the preparation for any audit by any taxing authority,
and the prosecution or defense of any claim, suit or proceeding relating to any Tax. The Purchaser and the Sellers shall retain all books and records with respect to Taxes pertaining to the Company and its assets for a period of at least six years
following the Closing Date. The Purchaser and the Sellers shall cooperate with each other in the conduct of any audit or other proceeding relating to Taxes involving the Company or its assets. 
 (b) The Sellers shall accurately prepare (or cause to be prepared) and timely file (or cause to be filed) all Tax Returns required to be filed by the
Company with respect to any Tax period ending on or before the Closing Date. With respect to any such Tax Returns that have not been filed on or prior to the Closing Date, the Sellers shall provide such Tax Returns to the Purchaser for its review 15
Business Days prior to the due date thereof. The Sellers shall be liable for all Taxes shown on any such Tax Returns to the extent provided pursuant to Section 8.1 hereof. 
 (c) The Purchaser shall accurately prepare (or cause to be prepared) and timely file (or cause to be filed) all Tax Returns required to be filed by the
Company with respect to any Tax period ending after the Closing Date. With respect to any such Tax Returns that relate to a Tax period that begins prior to the Closing Date, the Purchaser shall permit Sellers to review and comment on each such Tax
Return described in the preceding sentence prior to filing. 
 Section 5.8. Post-Closing Cooperation. 
 (a) The Sellers and the Purchaser shall cooperate with each other, and shall use their respective commercially reasonable efforts to cause their
Affiliates and their officers, employees, agents, auditors and representatives to cooperate with each other after the Closing to ensure the orderly transition of the Company from the Sellers to the Purchaser and to minimize any disruption to the
Company and the other businesses of the Sellers and the Purchaser that might result from the transactions contemplated hereby. After the Closing, upon reasonable written notice, the Sellers and the Purchaser shall furnish or cause to be furnished to
each other and their Affiliates and their respective employees, counsel, auditors and representatives access, during normal business hours, to such information and assistance relating to the Company (to the extent within the control of such party)
as is reasonably necessary for financial reporting and accounting matters. 
 (b) The Sellers, on the one hand, and the Purchaser, on the
other hand shall reimburse the other for reasonable out-of-pocket costs and expenses incurred in assisting the other pursuant to this Section 5.8. Neither the Sellers nor the Purchaser shall be required by this 

  

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Section 5.8 to take any action that would unreasonably interfere with the conduct of its business or unreasonably disrupt its normal operations (or, in
the case of the Purchaser, those of the Company). 
 Section 5.9. Publicity. No public release or announcement concerning the
transactions contemplated hereby shall be issued by any party without the prior consent of (i) the Purchaser, in the case of any such release or announcement by the Sellers, and (ii) the Sellers, in the case of any such release or
announcement by the Purchaser (which consent in the case of clauses (i) and (ii) shall not be unreasonably withheld), except as such release or announcement may be required by law or the rules or regulations of any United States or foreign
securities exchange, in which case the party required to make the release or announcement shall allow the other party reasonable time to comment on such release or announcement in advance of such issuance; provided, however, that the parties
shall be permitted to issue a press release in agreed form; provided, further, that each of the Company and the Purchaser may make internal announcements to their respective employees; provided, that the Sellers shall take commercially
reasonable measures to ensure that the Persons to whom it discloses such information pursuant to this proviso comply with the terms contained in Section 5.4 and the Company shall be responsible to the Purchaser for any disclosure by such
Persons of such information. 
 Section 5.10. Records. On the Closing Date, the Sellers shall deliver or cause to be delivered to
the Purchaser all agreements, documents, books, records and files, including records and files stored on computer disks or tapes or any other storage medium, if any, in the possession of the Sellers relating to the business and operations of the
Company to the extent not then in the possession of the Company. 
 Section 5.11. Further Assurances. From time to time, as and
when requested by any party, each party shall execute and deliver, or cause to be executed and delivered, all such documents and instruments and shall take, or cause to be taken, all such further or other actions (subject to Section 5.6), as
such other party may reasonably deem necessary or desirable to consummate the transactions contemplated by this Agreement, including, in the case of the Sellers, executing and delivering to the Purchaser such assignments, deeds, bills of sale,
consents and other instruments as the Purchaser or its counsel may reasonably request as necessary or desirable for such purpose. 
 Section 5.12. Accounts; Safe Deposit Boxes; Powers of Attorney. Prior to the Closing Date, the Sellers shall deliver to the Purchaser (i) a true and complete list of all bank and savings accounts, certificates of deposit
and safe deposit boxes of the Company and those persons authorized to sign thereon, (ii) true and complete copies of all corporate borrowing, depository and transfer resolutions and those Persons entitled to act thereunder, and (iii) a
true and complete list of all powers of attorney (other than a power of attorney given in the Ordinary Cause of Business with respect to Tax Matters) granted by the Company and those Persons authorized to act thereunder. 
 Section 5.13. Employee Salary. For the period beginning on the Closing Date and ending (i) six months after the Closing Date or
(ii) upon completion of the Performance Milestones, whichever is earlier (the “Milestone Development Period”), the Purchaser shall provide or cause to be provided to each employee of the Purchaser, other than the Sellers, who
was an employee of the Company prior to the Closing, an offer letter in the form of Exhibit G, including a rate of base salary or hourly wage while the employee continues to be employed by 

  

 38 

 
the Purchaser during such period that is not less than such employee’s rate of base salary or hourly wage in effect for the portion of the calendar year
of the Closing ending immediately prior to the Closing. Notwithstanding the foregoing, and to the extent permitted by Law, but subject to the Seller Employment Agreements, nothing in this Agreement shall be construed to limit the ability of the
Purchaser to terminate the employment of any employee for Cause (as defined below) during the Milestone Development Period, and at any time and for any or no reason after the Milestone Development Period. In addition, this Section 5.13 is for
the sole benefit of the Sellers and the Purchaser and their permitted successors and assigns and is not an agreement or commitment to any employee of the Company. Nothing herein express or implied shall give or be construed to give to any employee
of the Company any legal or equitable rights or remedies hereunder. For purposes of this section, “Cause” means (i) an employee’s gross negligence or willful failure to perform duties of employment with the Purchaser,
(ii) an employee’s illegal use or abuse of drugs which is injurious to the reputation or business of the Purchaser, or which impairs, or could reasonably be expected to impair, the performance of the employee’s duties with the
Purchaser, (iii) an employee’s conviction of, or plea of guilty or nolo contendere to, a felony, or (iv) an employee’s fraud or embezzlement against the Purchaser. 
 Section 5.14. Delivery of Financial Statements. From and after the Closing Date and until all payments have been made under Article 1 of this
Agreement or are no longer payable pursuant to Section 1.11 of this Agreement, the Purchaser shall deliver to each Seller: 
 (a) as soon
as practicable, but in any event within 90 days after the end of each fiscal year of the Purchaser, an income statement for such fiscal year, a balance sheet of the Purchaser and statement of stockholders’ equity as of the end of such year, and
a statement of cash flows for such year, such year end financial reports to be in reasonable detail, prepared in accordance with GAAP, and audited and certified by independent public accountants of nationally recognized standing selected by the
Purchaser; and 
 (b) as soon as practicable, but in any event within 60 days after the end of each of the first three (3) quarters of
each fiscal year of the Purchaser, an unaudited income statement, statement of cash flows for such fiscal quarter and an unaudited balance sheet as of the end of such fiscal quarter. 
 Section 5.15. Complimentary Units. Upon manufacture of the Units, the Purchaser shall provide at a cost of $100, (i) one (1) tower,
two (2) completed Units and two (2) docking stations to each Seller other than Edward Pellegrini, and (ii) two (2) towers, four (4) completed Units and four (4) docking stations to Edward Pellegrini. 
 ARTICLE 6 
 CONDITIONS
PRECEDENT 
 Section 6.1. Condition to Each Party’s Obligation. The obligation of the
Purchaser to purchase and pay for the Interests and the obligation of the Sellers to sell the Interests to the Purchaser is subject to the condition that the consummation of the Acquisition and the other transactions by this Agreement shall not be
prohibited by any Law or Order. 
  

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 Section 6.2. Conditions to the Obligations of the Purchaser. The obligation of the Purchaser
to purchase and pay for the Interests is subject to the satisfaction (or waiver by the Purchaser) on or prior to the Closing of the following conditions: 
 (a) Representations and Warranties. (i) Each of the representations and warranties of each Seller contained in this Agreement and any Ancillary Agreement to which such Seller is a party that are
qualified as to materiality shall be true and correct, and those not so qualified shall be true and correct in all material respects, as of the date hereof and as of the Closing Date as though made on the Closing Date, except to the extent such
representations and warranties expressly relate to an earlier date (in which case such representations and warranties qualified as to materiality shall be true and correct, and those not so qualified shall be true and correct in all material
respects, on and as of such earlier date). The Purchaser shall have received a certificate signed by each Seller (as to the representations and warranties of such Seller) to such effect. 
 (b) Performance of Obligations. Each Seller and the Company shall have performed or complied in all material respects with all obligations and
covenants required by this Agreement to be performed or complied with by such Seller or the Company, as applicable, by the time of the Closing, and the Purchaser shall have received a certificate signed by each Seller (as to the obligations and
covenants of the Seller) to such effect. 
 (c) Opinion of Counsel. The Purchaser shall have received an opinion dated the Closing
Date of Law Offices of Bradford E. Block, counsel to the Sellers and the Company, substantially in the form of Exhibit H.  
 (d)
FIRPTA Certificate. Each Seller shall have delivered to the Purchaser at the Closing a certificate, in form and substance reasonably satisfactory to Purchaser, certifying that such Seller is not a foreign person within the meaning of
Section 1445 of the Code. 
 (e) Consents. The Sellers shall have delivered to the Purchaser evidence, in form and substance
reasonably satisfactory to the Purchaser, all Consents and approvals of third parties required in connection with the Acquisition, this Agreement and other transactions contemplated hereby, have been obtained and are in full force and effect.

 (f) Ancillary Agreements. 
 (i) Sellers shall have amended immediately prior to the Closing Date the Operating Agreement as in effect immediately prior to the Closing Date, so that the amended and restated LLC Operating Agreement shall be
substantially in the form of Exhibit I.  
 (ii) Sellers shall have delivered to the Purchaser the Memorandum of Lease
substantially in the form of Exhibit J duly executed by Edward Pellegrini and the Company. 
 (iii) Sellers shall have
delivered to the Purchaser the original promissory notes set forth on Section 3.6(b) of the Seller/Company Disclosure Letter. 
 (iv) Sellers shall have delivered to the Purchaser counterparts of (A) the Equity Interest and Note Assignment Agreement and (B) the Amendment to Investors’ 

  

 40 

 
Rights Agreement, each of (A) and (B) duly executed by the Sellers, (C) the Seller-Inventor IP Assignment Agreement, duly executed by Kenneth
Fedesna, Mark Loffredo, Edward Pellegrini and Edward Suchocki, (D) the Non-Inventor IP Assignment Agreement, duly executed by William J. Federighi, Thomas M. Lotus and Dante Federighi, (E) the Pellegrini IP Assignment Agreement, duly
executed by Frank J. Pellegrini, (F) counterparts of the Seller Employment Agreements, duly executed by the individuals listed on Section 6.2(f)(iv) of the Purchaser Disclosure Letter and (G) the Pellegrini Employment Agreement, duly
executed by Frank J. Pellegrini. 
 (v) Sellers shall have delivered to the Purchaser copies of non-disclosure agreements and
intellectual property assignment agreements, in a form satisfactory to the Purchaser, duly executed by each Employee of the Company. 
 (g)
General. All corporate proceedings required to be taken by the Sellers and the Company in connection with the transactions contemplated by this Agreement shall have been taken. The Purchaser shall have received copies of such officers’
certificates, good standing certificates and incumbency certificates of the Company and other customary closing documents with respect to each Seller and the Company as the Purchaser may reasonably request in connection with the transactions
contemplated hereby. 
 Section 6.3. Conditions to the Sellers’ Obligation. The obligation of the Sellers to sell the
Interests is subject to the satisfaction (or waiver by the Sellers) on or prior to the Closing of the following conditions: 
 (a) Representations and Warranties. The representations and warranties of the Purchaser in this Agreement and each Ancillary Agreement to which it is a party that are qualified as to materiality shall be true and correct, and
those not so qualified shall be true and correct in all material respects, as of the date hereof and as of the Closing Date as though made on the Closing Date, except to the extent such representations and warranties expressly relate to an earlier
date (in which case such representations and warranties qualified as to materiality shall be true and correct, and those not so qualified shall be true and correct in all material respects, on and as of such earlier date). The Sellers shall have
received a certificate signed by an executive officer of the Purchaser to such effect. 
 (b) Performance of Obligations. The
Purchaser shall have performed or complied in all material respects with all obligations and covenants required by this Agreement to be performed or complied with by the Purchaser by the time of the Closing, and the Sellers shall have received a
certificate signed by an executive officer of the Purchaser to such effect. 
 (c) Opinion of Counsel. The Sellers shall have received
an opinion dated the Closing Date of Covington & Burling LLP, counsel to the Purchaser, substantially in the form of Exhibit K. 
 (d) Ancillary Agreements. 
 (i) The Purchaser shall have delivered to the Sellers: counterparts of the (A) Equity
Interest and Note Assignment Agreement, (B) Seller Employment Agreements and (C) Pellegrini Employment Agreement, duly executed by the Purchaser, and (D) Amendment to Investors’ Rights Agreement, duly executed by the Purchaser
and the holders of a majority of the Registrable Securities (as defined in such agreement) of the Purchaser. 
  

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 (e) General. All corporate proceedings required to be taken by the Purchaser in connection with
the transactions contemplated by this Agreement shall have been taken. The Sellers shall have received copies of such officers’ certificates, good standing certificates, incumbency certificates and other customary closing documents with respect
to the Purchaser as the Sellers may reasonably request in connection with the transactions contemplated hereby. 
 ARTICLE 7 
 TERMINATION, AMENDMENT AND WAIVER 
 Section 7.1. Termination. 
 (a)
Notwithstanding anything to the contrary in this Agreement, this Agreement may be terminated and the Acquisition and the other transactions contemplated by this Agreement abandoned at any time prior to the Closing: 
 (i) by mutual written consent of the Sellers and the Purchaser; 
 (ii) by the Sellers if any of the conditions set forth in Sections 6.1 or 6.3 shall have become incapable of fulfillment and shall not
have been waived by the Sellers; 
 (iii) by the Purchaser if any of the conditions set forth in Sections 6.1 or 6.2 shall
have become incapable of fulfillment and shall not have been waived by the Purchaser; or 
 (iv) by the Sellers or the
Purchaser, if the Closing does not occur on or prior to September 30, 2007; 
 provided, however, that the party seeking termination pursuant to
clause (ii), (iii) or (iv) is not then in material breach of any of its representations, warranties, covenants or agreements contained in this Agreement. 
 (b) In the event of termination by the Sellers or the Purchaser pursuant to this Section 7.1, written notice thereof shall forthwith be given to the other and the transactions contemplated by this Agreement shall
be terminated, without further action by any party. 
 Section 7.2. Effect of Termination. If this Agreement is terminated and
the transactions contemplated hereby are abandoned as described in Section 7.1, this Agreement shall become null and void and of no further force and effect, except for the provisions of (i) Section 5.6 (relating to certain expenses),
(ii) Section 7.1 and this Section 7.2, (iii) Section 5.9 (relating to publicity) and (iv) Article 9. Nothing in this Section 7.2 shall be deemed to release any party from any liability for any breach by such party
of the terms and provisions of this Agreement or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement. 
 ARTICLE 8 
 INDEMNIFICATION 
 Section 8.1. Tax Indemnification. 
 (a) From and after the Closing, each Seller, jointly and severally with the other Sellers, shall be liable for and shall indemnify the Purchaser, its Affiliates (including the Company) and each of their respective officers, directors,
employees, stockholders, agents and 

  

 42 

 
representatives (the “Purchaser Indemnitees”) against and hold them harmless from (i) all liability for Taxes of the Company for the
Pre-Closing Tax Period, (ii) all liability resulting from a breach of the Sellers’ representations and warranties contained in Section 3.13 hereof and (iii) all liability for reasonable legal fees and expenses for any item
attributable to any item in clause (i) and (ii) above. 
 (b) For purposes of determining the Sellers’ indemnity obligation
pursuant to Section 8.1(a) hereof, in the case of any taxable period that includes (but does not end on) the Closing Date (a “Straddle Period”): 
 (i) real, personal and intangible property Taxes (“Property Taxes”) of the Company and its Subsidiaries for the
Pre-Closing Tax Period shall equal the amount of such Property Taxes for the entire Straddle Period multiplied by a fraction, the numerator of which is the number of days during the Straddle Period that are in the Pre-Closing Tax Period and the
denominator of which is the number of days in the Straddle Period; and 
 (ii) the Taxes of the Company and its Subsidiaries
(other than Property Taxes) for the Pre-Closing Tax Period shall be computed as if such taxable period ended as of the close of business on the Closing Date. 
 (c) Unless the Sellers’ Representative, acting as agent for the Sellers notifies the Purchaser, within 20 Business Days following the Sellers’ Representative’s receipt of demand for payment that the
Sellers’ Representative disputes its liability to a Purchaser Indemnitee under this Section 8.1, any indemnity payment to be made under this Section 8.1 shall be paid within 20 Business Days after the Purchaser Indemnitee makes
written demand upon the Sellers’ Representative, but in no case earlier than five Business Days prior to the date on which the relevant Taxes are required to be paid to the relevant Taxing Authority (including as estimated Tax payments).

 (d) This Section 8.1 shall constitute the Purchaser’s and each Seller’s exclusive remedy for any Loss suffered or incurred
to the extent arising from, relating to or, otherwise in respect of Taxes. 
 Section 8.2. Other Indemnification by the Sellers.
Each Seller, jointly and severally with the other Sellers, shall be liable for, and shall indemnify each Purchaser Indemnitee against and hold it harmless from, any Loss, suffered or incurred by such Purchaser Indemnitee to the extent arising from,
relating to or otherwise in respect of: 
 (i) any breach of any representation or warranty of the Sellers contained in this
Agreement (other than Section 3.13 hereof, indemnity for which is provided for in Section 8.1 hereof), in any Ancillary Agreement or in any certificate delivered pursuant hereto; 
 (ii) any breach of or failure to perform any covenant of the Sellers or the Company contained in this Agreement or in any Ancillary
Agreement to which they are a party; 
 (iii) any Liability of the Company arising out of or related to any Indebtedness of
the Company incurred prior to the Closing; and 
  

 43 

 (iv) any Liability of the Company with respect to management, advisory, investment
banking or other similar arrangements between the Company and any of the Sellers or any of their Affiliates; 
 provided, however, that no
Purchaser Indemnitee shall be entitled to be indemnified pursuant to clause (i) above unless the aggregate of all Losses for which the Purchaser Indemnitees would, but for this proviso, be liable exceeds on a cumulative basis $100,000 (the
“Sellers Indemnity Threshold”), at which point each Purchaser Indemnitee shall be entitled to be indemnified for the aggregate Losses and not just amounts in excess of the Sellers Indemnity Threshold (except that the foregoing
proviso shall not apply to any breach of or inaccuracy in the representations and warranties set forth in Sections 2.1, 2.2, 2.5, 2.6, 2.7, 2.9, 3.1, 3.2, 3.3, 3.15, 3.17(b) and 3.23 and to any act of fraud); provided further, however,
that, (i) except with respect to any claims for indemnification arising out of a breach or alleged breach of Sections 2.1, 2.2, 3.1, 3.2, 3.6(b), 3.13, 3.15(b) and 3.23 of this Agreement, for which each Seller’s liability shall be limited
to the Purchase Price, any individual Seller’s liability pursuant to this Section 8.2 and Section 8.1 shall be limited to an amount equal to twenty percent (20%) of the maximum amount of Cash Consideration and Stock Consideration
payable by the Purchaser to such Seller under this Agreement, with the value of any Stock Consideration for this purpose deemed to be $2.00 per share, and (ii) with respect to the Sellers’ covenants under Sections 5.2 and 5.4, the
liability of each Seller shall be several, and not be joint and several, so that no non-breaching Seller shall be liable for the breach of either of these covenants by another Seller. 
 Section 8.3. Other Indemnification by the Purchaser. The Purchaser shall be liable for, and shall indemnify Sellers against and
hold Sellers harmless from, any Loss, suffered or incurred by the Sellers to the extent arising from, relating to or otherwise in respect of: 
 (i) any breach of any representation or warranty of the Purchaser contained in this Agreement, in any Ancillary Agreement or in any certificate delivered pursuant hereto; and 
 (ii) any breach of or failure to perform any covenant of the Purchaser contained in this Agreement or in any Ancillary Agreement;  

 provided, however, that no Seller shall be entitled to be indemnified pursuant to clause (i) above unless the aggregate of all Losses
for which the Sellers would, but for this proviso, be liable exceeds on a cumulative basis $25,000 (the “Purchaser Indemnity Threshold”), at which point each Seller shall be entitled to be indemnified for the aggregate Losses and
not just amounts in excess of the Purchaser Indemnity Threshold (except that the foregoing proviso shall not apply to any breach of or inaccuracy in the representations and warranties set forth in Sections 4.1, 4.2, 4.3, 4.7 and to any act of
fraud); provided further, however, that the Purchaser’s liability pursuant to this Section 8.3 shall be limited to the maximum amount of Cash Consideration and Stock Consideration (with the value of any Stock Consideration
for this purpose deemed to be $2.00 per share) which could be payable by the Purchaser hereunder. 
 Section 8.4. Termination of
Indemnification. The obligations to indemnify and hold harmless any party (i) pursuant to Section 8.2(i) or 8.3(i) shall terminate when the applicable representation or warranty terminates pursuant to Section 8.6, and
(ii) otherwise Section 8.1 and Section 8.2(ii) shall terminate upon the expiration of all applicable statutes of limitation (including extensions thereof); provided, however, that such obligations to indemnify and hold

  

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harmless shall not terminate with respect to any item as to which the Person to be indemnified shall have, before the expiration of the applicable period,
previously made a claim by delivering a notice of such claim pursuant to Section 8.5 to the party to be providing the indemnification. 
 Section 8.5. Procedures. 
 (a) Third Party Claims. In order for a Person (the “indemnified
party”) to be entitled to any indemnification provided for under Section 8.1, 8.2 or 8.3 in respect of, arising out of or involving a claim made by any Person against the indemnified party (a “Third Party Claim”), such
indemnified party must notify the applicable indemnifying party (the “indemnifying party”) in writing of the Third Party Claim promptly following receipt by such indemnified party of written notice of the Third Party Claim;
provided, however, that failure to give such notification shall not affect the indemnification provided hereunder except to the extent the indemnifying party shall have been actually prejudiced as a result of such failure. Thereafter, the
indemnified party shall deliver to the indemnifying party promptly following the indemnified party’s receipt thereof, copies of all notices and documents (including court papers) received by the indemnified party relating to the Third Party
Claim. 
 (b) Control. If a Third Party Claim is made against an indemnified party, the indemnifying party shall be entitled to
participate in the defense thereof and, if it so chooses, to assume the defense thereof with counsel selected by the indemnifying party; provided, however, that (i) an indemnifying party may only assume the defense of a Third Party Claim
if it delivers to the applicable indemnified party within 30 days (or such shorter period reasonably necessary to allow reply to any complaint or motion by the applicable Person) of the indemnifying party’s receipt of notice of such Third Party
Claim, notice of its election to assume the defense thereof, (ii) the counsel to be used by the indemnifying party for such defense is not reasonably objected to by the indemnified party and (iii) the indemnifying party thereafter
diligently conducts the defense thereof. If the indemnifying party assumes such defense, the indemnified party shall reasonably cooperate in the defense thereof and shall have the right to participate in the defense thereof and to employ counsel
(not reasonably objected to by the indemnifying party), at its own expense, separate from the counsel employed by the indemnifying party, it being understood that the indemnifying party shall control such defense. If the indemnifying party is not
entitled to assume, or fails to conduct in a diligent manner, the defense of any such Third Party Claim then, (i) the indemnified party may defend against such Third Party Claim in such manner as it may deem appropriate and (ii) the
indemnifying party shall be entitled to participate in (but not control) the defense of such action, with its counsel and at its own expense. If the indemnifying party assumes the defense of a Third Party Claim, the indemnified party shall not be
entitled to be indemnified or held harmless under Section 8.1, 8.2 or 8.3 for such Third Party Claim if it shall settle such Third Party Claim without the prior written consent of the indemnifying party, unless the indemnified party has sought
such consent and such consent has been unreasonably withheld or delayed, it being agreed that the indemnifying party shall not unreasonably withhold or delay such consent. Notwithstanding the foregoing, the indemnifying party shall not be entitled
to assume the defense of any Third Party Claim if the Third Party Claim (i) seeks an order, injunction or other equitable relief or relief for other than money damages against the indemnified party, (ii) relates to or arises in connection
with the ownership, use or infringement of the Company Intellectual Property, or to the alleged infringement by the indemnified party of the Intellectual Property of any third-party, (iii) relates to or arises in connection with any criminal or
regulatory proceeding, action, indictment, allegation or investigation, (iv) relates to 

  

 45 

 
or arises in connection with a breach of the representations and warranties contained in Section 3.13(i) or the covenants contained in
Section 5.1(a)(xi)(B) hereof, or (v) would, if determined adversely to the indemnified party, reasonably be expected to result in Losses in excess of the amount for which the indemnifying party would then be required to indemnify the
indemnified parties; provided, that in the case of clause (i), the indemnified party must reasonably determine, after conferring with its outside counsel, that such claims cannot be separated from any related claim for money damages and if it
can be so separated, the indemnifying party shall be entitled to assume the defense of the portion of such claims relating solely to money damages. 
 (c) Other Claims. In the event any indemnified party should have a claim against any indemnifying party under Section 8.2 or 8.3 that does not involve a Third Party Claim being asserted against or sought to be collected from
such indemnified party, the indemnified party shall deliver notice of such claim with reasonable promptness to the indemnifying party. Subject to Sections 8.5 and 8.6, the failure by any indemnified party so to notify the indemnifying party shall
not relieve the indemnifying party from any liability that it may have to such indemnified party under Section 8.2 or 8.3 except to the extent that the indemnifying party demonstrates that it has been actually prejudiced by such failure. If the
indemnifying party does not notify the indemnified party within 20 Business Days following its receipt of such notice that the indemnifying party disputes its liability to the indemnified party under Section 8.2 or 8.3 such claim specified by
the indemnified party in such notice shall be conclusively deemed a liability of the indemnifying party under Section 8.2 or 8.3 and the indemnifying party shall pay the amount of such liability to the indemnified party on demand or, in the
case of any notice in which the amount of the claim (or any portion thereof) is estimated, on such later date when the amount of such claim (or such portion thereof) becomes finally determined. 
 (d) With respect to any claim for indemnification pursuant to Section 8.2, references to the “indemnifying party” with respect to any
right to give or receive notice or consent shall be deemed to refer to the Sellers’ Representative. 
 Section 8.6.
Survival. The representations, warranties and covenants contained in this Agreement and in any document delivered in connection herewith shall survive the Closing solely for purposes of this Article 8 as follows: (i) except as provided
in clauses (ii) and (iii) below, the representations and warranties contained in Articles 2, 3 and 4 shall survive the Closing until the date that is 18 months following the Closing Date; (ii) the representations and warranties
contained in Section 3.9 shall survive the Closing until the date that is 24 months following the Closing Date; (iii) the representations and warranties contained in Sections 2.1, 2.2, 2.5, 2.6, 2.7, 2.9, 3.1, 3.2, 3.3, 3.13, 3.15,
3.17(b), 3.23, 4.1, 4.2, 4.3 and 4.7 shall survive until 30 days after expiration of the applicable statute of limitations; and (iv) all other provisions of this Agreement shall survive indefinitely. 
 Section 8.7. No Right of Contribution. The Sellers shall not have any right of contribution against the Company with respect to any breach of
any representations or warranties, or any covenants or agreements contained in this Agreement, any Ancillary Agreement or in any certificate delivered pursuant hereto. 
 Section 8.8. Exclusive Remedy. Except as otherwise specifically provided in this Agreement or in any Ancillary Agreement, each of the Sellers and the Purchaser acknowledges that its sole and exclusive
monetary remedy after the Closing with respect to any and all claims against any other party hereto relating to this Agreement and the Ancillary Agreements, the 

  

 46 

 
Acquisition and the other transactions contemplated hereby and thereby, the Company and its assets and liabilities (other than claims of, or causes of action
arising from, fraud) shall be pursuant to the indemnification provisions set forth in this Article 8 and as may be provided in the Ancillary Agreements. In furtherance of the foregoing, each of the Sellers and the Purchaser hereby waives, from and
after the Closing, to the fullest extent permitted under applicable law, any and all rights, claims and causes of action (other than claims of, or causes of action arising from, fraud) for damages it may have against any other party hereto arising
under or based upon this Agreement, any Ancillary Agreement, any document or certificate delivered in connection herewith, any applicable Law or otherwise (except pursuant to the indemnification provisions set forth in this Article 8 or as may be
provided in the Ancillary Agreements). This Section 8.8 shall not limit the Purchaser’s or the Sellers’ right set forth in Section 1.6. 
 Section 8.9. Sellers’ Representative. 
 (a) Appointment. Effective as of the date
hereof and without any further action by the Sellers, Kenneth Fedesna will be, and hereby is, appointed and constituted the Sellers’ Representative in respect of each Seller as his agent, to act in his name, place and stead as such
Seller’s attorney-in-fact, to take any and all actions expressly permitted or required to be taken by the Sellers’ Representative hereunder and which he believes are necessary or appropriate under this Agreement, including, without
limitation, giving and receiving any notice or instruction expressly permitted or required under this Agreement by the Sellers’ Representative, authorizing payments to be made with respect hereto, defending all claims pursuant to Article 8 of
this Agreement, consenting to, compromising or settling all claims, conducting negotiations with the Purchaser and its agents regarding such claims, taking any and all other actions specified in or contemplated by this Agreement. With the consent of
a majority-in-interest of the Sellers, the Sellers’ Representative may engage counsel in connection with the foregoing matters. The Sellers’ Representative hereby accepts the appointment as Sellers’ Representative, all in accordance
with the terms of this Agreement. 
 (b) Authorization. Each of the Sellers hereby (i) approves the designation of the
Sellers’ Representative as the representative of such holder and as the attorney-in-fact and agent for and on behalf of such Seller for the purposes set forth in Section 8.9(a) above, and (ii) agrees that all authority hereby
conferred is granted and shall be irrevocable and shall not be terminated by any act of any Seller, by operation of law, whether by such Seller’s death, disability, protective supervision or any other event, including, without limitation, the
lapse of time. Each Seller shall be deemed to have waived any and all defenses which may be available to contest, negate or disaffirm any action of the Sellers’ Representative taken in good faith. Each Seller will be conclusively bound by all
actions taken and documents executed by the Sellers’ Representative in accordance with this Section 8.9, the Purchaser and the Purchaser Indemnitees will be entitled to rely on any action or decision of the Sellers’ Representative.

 (c) Indemnification of Sellers’ Representative. The Sellers’ Representative shall be indemnified by the Sellers for, and
shall be held harmless against, any loss, liability or expense incurred by the Sellers’ Representative or any of his Affiliates and any of their respective partners, directors, officers, employees, agents, stockholders, consultants, attorneys,
accountants, advisors, brokers, representatives or controlling persons, in each case relating to the Sellers’ Representative’s conduct in his capacity and within the scope of his authority as Sellers’ Representative, other than such
losses, liabilities or expenses resulting from the Sellers’ Representative’s gross negligence or willful misconduct in connection with his performance 

  

 47 

 
under this Agreement. This indemnification shall survive the termination of this Agreement. The Sellers’ Representative may, in all questions arising
under this Agreement, rely on the advice of counsel and for anything done, omitted or suffered in good faith by the Sellers’ Representative in accordance with such advice, the Sellers’ Representative shall not be liable to the Sellers or
any other person. In determining the occurrence of any fact, event or contingency, the Sellers’ Representative may request from any of the Sellers or any other Person such reasonable additional evidence as the Sellers’ Representative in
its sole discretion may deem necessary, and may at any time inquire of and consult with others, including any of the Sellers and shall not be liable to any Sellers for any damages resulting from any delay in acting hereunder pending receipt and
examination of additional evidence requested. In no event shall the Sellers’ Representative be liable to any Seller hereunder or in connection herewith for any indirect, punitive, special or consequential damages. 
 (d) Limitation on Duties and Responsibilities. The Sellers’ Representative shall have no duties or responsibilities except those expressly
set forth in this Agreement, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on behalf of any Seller shall otherwise exist against the Sellers’ Representative. 
 (e) Reasonable Reliance. In the performance of his duties hereunder, the Sellers’ Representative shall be entitled to rely upon any document
or instrument reasonably believed by his to be genuine, accurate as to content and signed by any Seller or any party hereunder. The Sellers’ Representative may assume that any person purporting to give any notice in accordance with the
provisions hereof has been duly authorized to do so. 
 (f) Removal of Sellers’ Representative; Authority of Successor Sellers’
Representative. A majority-in-interest of the Sellers shall have the right at any time to remove the then-acting Sellers’ Representative and to appoint a successor Sellers’ Representative; provided, however, that neither such removal
of the then-acting Sellers’ Representative nor such appointment of a successor Sellers’ Representative shall be effective until the delivery to the Purchaser of executed counterparts of a writing signed by the requisite Sellers with
respect to such removal and appointment, together with an acknowledgment signed by the successor Sellers’ Representative appointed in such writing that he, she or it accepts the responsibility of successor Sellers’ Representative and
agrees to perform and be bound by all of the provisions of this Agreement applicable to the Sellers’ Representative. 
 (g)
Resignation of the Sellers’ Representative. The Sellers’ Representative may resign at any time by giving written notice to the Sellers and the Purchaser. A majority-in-interest of the Sellers shall then have the right at any time
during the term to appoint a successor Sellers’ Representative; provided, however, that neither such resignation of the then-acting Sellers’ Representative nor such appointment of a successor Sellers’ Representative shall be effective
until the delivery to the Purchaser of executed counterparts of a writing signed by the requisite Sellers with respect to such removal and appointment, together with an acknowledgment signed by the successor Sellers’ Representative appointed in
such writing that he, she or it accepts the responsibility of successor Sellers’ Representative and agrees to perform and be bound by all of the provisions of this Agreement applicable to the Sellers’ Representative. 
 (h) Majority-in Interest; Successor Sellers’ Representative. For all purposes under this Section 8.9, a majority-in-interest of the
Sellers shall be determined on the basis of each Seller’s Membership Interest Percentage as set forth under such heading on Exhibit A. Each 

  

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successor Sellers’ Representative shall have all of the power, authority, rights and privileges conferred by this Agreement upon the original
Sellers’ Representative, and the term “Sellers’ Representative” as used herein shall be deemed to include any interim or successor Sellers’ Representative. 
 (i) Irrevocable Appointment. Subject to Sections 8.9(f) and 8.9(g), the appointment of the Sellers’ Representative hereunder is irrevocable,
except in the event of gross negligence, willful misconduct or fraud committed by the Sellers’ Representative. Any action taken by the Sellers’ Representative pursuant to the authority granted in this Section 8.9 shall be effective
and absolutely binding as the action of the Sellers’ Representative under this Agreement. 
 Section 8.10. Calculation of
Losses. Notwithstanding any provision of this Article 8, no indemnified party shall be entitled to indemnification pursuant to Section 8.1 or 8.2 hereof for any special, consequential, incidental or punitive Losses or lost profits, loss of
business or diminution in value (collectively, “Special Damages”) it suffers or incurs. If an indemnified party is liable for Special Damages to a third party in satisfaction of a Third Party Claim, such amounts shall be subject to
indemnification pursuant to Sections 8.1 and 8.2 hereof. The amount of any Losses that an indemnified party may recover under Article 8 shall be net of (i) any amount which such indemnified party actually recovers and collects from third
parties or is otherwise actually reimbursed in connection with such Losses and (ii) any insurance proceeds actually received by such indemnified party; provided, in each such case, that any such amounts actually recovered are not subject to any
further claim for recovery or reimbursement. 
 ARTICLE 9 
 GENERAL PROVISIONS 
 Section 9.1. Notices.
All notices, requests, claims, demands, waivers and other communications under this Agreement shall be in writing and shall be by facsimile, courier services or personal delivery to the following addresses, or to such other addresses as shall be
designated from time to time by a party in accordance with this Section 9.1: 
 (a) if to the Purchaser: 
 3 Commerce Place 
 4th floor 
 Montreal, Quebec 
 H3E 1H7 
 Canada 
 Attention: Art Matin 
 Facsimile No.: (514) 762-6483 
 with copies (which
shall not constitute notice) to: 
 Covington & Burling LLP 
 The New York Times Building 
 620 Eighth
Avenue 
 New York, New York 10018 
 Attention: Ellen B. Corenswet 
 Facsimile No.: (212) 841-1010 
  

 49 

 (b) if to the Sellers, to their respective addresses set forth on Exhibit A, with a copy (which
shall not constitute notice) to: 
 Bradford E. Block 
 Law Offices of Bradford E. Block 
 400 Skokie Blvd. Suite 380 
 Northbrook, IL 60063 
 Facsimile No.:
(847) 559-0861 
 All notices and communications under this Agreement shall be deemed to have been duly given (x) when delivered by hand, if
personally delivered, (y) one Business Day after when delivered to a courier, if delivered by commercial one-day overnight courier service or (z) when sent, if sent by facsimile, with an acknowledgment of sending being produced by the
sending facsimile machine. 
 Section 9.2. Definitions. As used in this Agreement, the following terms have the respective
meanings set forth below: 
 “Affiliate” means, with respect to any Person, a Person who is an “affiliate” of such
first Person within the meaning of Rule 405 under the Securities Act of 1933. 
 “Ancillary Agreements” means the Equity
Interest and Note Assignment Agreement, the Seller-Inventor IP Assignment Agreement, the Non-Inventor IP Assignment Agreement, the Pellegrini IP Assignment Agreement, the Amendment to Investors’ Right Agreement, the Pellegrini Employment
Agreement and each Seller Employment Agreement. 
 “Business Day” means any day other than a Saturday or Sunday or a day on
which banking institutions located in New York City are permitted or required by Law, executive order or decree of a Governmental Entity to remain closed. 
 “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1986, codified at Part 6 of Title I of ERISA and section 4980B of the Code, and similar applicable state Laws. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 
 “Company Intellectual Property” means all Intellectual Property, owned, used, filed by or licensed to the Company. 
 “Company Material Adverse Effect” means any change, circumstance, development, state of facts, event or effect (i) that has had or
could reasonably be expected to have a material adverse change or effect (taken alone or in the aggregate with any other adverse change or effect) in or with respect to the business, assets, financial condition, results of operations or prospects of
the Company or (ii) that could reasonably be expected to prevent or materially impede, interfere with, hinder or delay the consummation by the Sellers of the Acquisition or the other transactions contemplated by this Agreement. 
  

 50 

 “Constitutive Documents” means (i) with respect to a Person that is a corporation,
such Person’s certificate or articles of incorporation and by-laws, (ii) with respect to a Person that is a limited liability company, such Person’s certificate of formation and operating or limited liability company agreement, and
(iii) with respect to a Person that is a legal entity (including one of the type described in clauses (i) and (iii)), any constitutive document of such entity or other document or Contract analogous to those described in clauses
(i) and (ii). 
 “Contract” means any loan or credit agreement, bond, debenture, note, mortgage, indenture, guarantee,
lease or other contract, commitment, agreement, instrument, obligation, undertaking, license, permit, concession, franchise or legally binding arrangement or understanding, whether written or oral. 
 “Copyrights” means, collectively, works of authorship, mask works and any and all other copyrights and copyrightable works, and all
applications, registrations, extensions and renewals thereof. 
 “Employee” means any former or current employee,
independent contractor or consultant of the Company or an ERISA Affiliate. 
 “Employee Benefit Plan” means any collective
bargaining agreement, any pension, profit sharing or other retirement, bonus, deferred compensation, incentive compensation, equity purchase, equity appreciation, restricted equity, equity option or other equity-based (whether real or phantom),
vacation pay, sick pay, severance or termination pay, retention, disability, death benefit, employment, consulting, independent contractor, director, retention, hospitalization, fringe benefit, medical, dental, vision, life or other insurance or
other plan, program, policy, arrangement or Contract established, maintained, contributed to or required to be established, maintained or contributed to by the Company or any ERISA Affiliate, in each case, providing benefits to any Employee, and in
each case whether written or oral, informal or formal, subject to ERISA or not. 
 “Environmental Law” means any applicable
Law, Order and Permit issued, promulgated or entered into by or with any Governmental Entity, relating to the environment (including indoor and outdoor air, water vapor, surface water, groundwater, wetlands, drinking water supply, surface or
subsurface land), preservation or reclamation of natural resources, or to the protection of human health as it relates to the environment, including applicable Laws relating to noise levels, or to the management, Release or threatened Release of
Hazardous Materials. 
 “Environmental Liability” means any and all Losses relating to the Company and its current or former
businesses, operations, assets, facilities or property (including, without limitation, real property and Leased Properties), arising from or relating to: (i) failure to comply with any requirement of an Environmental Law; (ii) failure to
obtain, maintain in effect or comply with any required Environmental Permit; (iii) actual or alleged obligation to undertake environmental investigation, risk assessment, monitoring, remediation or restoration; or (iv) harm or injury,
actual or alleged, to any real property, to any Person, to public health, or to any natural resource as relating to Hazardous Materials. 
  

 51 

 “Environmental Permits” means all permits, licenses, certificates, approvals or
authorizations held by the Company or any of its businesses or operations pursuant to an Environmental Law. 
 “ERISA” means
the Employee Retirement Income Security Act of 1974, as amended. 
 “ERISA Affiliate” means any Person which is (or at any
relevant time was or will be) a member of a “controlled group of corporations” with, under “common control” with, or a member of an “affiliate service group” with the Company as such terms are defined in
Section 414(b), (c), (m) or (o) of the Code. 
 “Governmental Entity” means any nation, state, province,
county, city or political subdivision and any official, agency, arbitrator, authority, court, department, commission, board, bureau, instrumentality or other governmental or regulatory authority of any thereof, whether domestic or foreign.

 “Hazardous Materials” means (i) any and all radioactive materials or wastes, petroleum (including crude oil or any
fraction thereof) or petroleum distillates, asbestos or asbestos containing materials, urea formaldehyde foam and (ii) any other wastes, materials, chemicals or substances regulated pursuant to any Environmental Law. 
 “Indebtedness” of any Person means, without duplication, (i) all indebtedness of such Person for borrowed money, with respect to
deposits or advances of any kind or for the deferred purchase price of property or services (other than current trade liabilities incurred in the Ordinary Course of Business and payable in accordance with customary practices and not more than 90
days past due), (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of such Person upon which interest charges are customarily paid, (iv) all obligations of such
Person under conditional sale or other title retention agreements relating to property or assets purchased by such Person, (v) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (vi) all guarantees by such Person of Indebtedness of others, (vii) all capital lease
obligations of such Person, (viii) all obligations of such Person in respect of interest rate protection agreements, foreign currency exchange agreements, caps or collar agreements or other interest or exchange rate hedging arrangements either
generally or under specific contingencies, (ix) all obligations of such Person as an account party in respect of letters of credit and banker’s acceptances, (x) all obligations of such Person consisting of overdrafts (e.g., cash float
reflected as a negative on the cash line) and (xi) all obligations of such Person pursuant to any deferred compensation agreements. 
 “Intellectual Property” of any Person means all intellectual property rights of any kind, including those arising from or in respect of the following, whether protected, created or arising under any Law, including:
(i) all Patents; (ii) all Marks; (iii) all Copyrights; (iv) trade secrets, discoveries, concepts, ideas, research and development, know-how, formulae, algorithms, inventions, compositions, manufacturing and production processes
and techniques, technical data, procedures, methods, programs, subroutines, tools, materials, processes, 

  

 52 

 
inventions (whether patentable or unpatentable and whether or not reduce to practice), apparatus, creations, improvements, works of authorship and other
similar materials, all recordings, graphs, designs, drawings, reports, analyses, and other writings, specifications, databases and other proprietary and confidential information, including customer lists, supplier lists, pricing and cost
information, and business and marketing plans and proposals and other tangible embodiments of the foregoing, in any form whether or note specifically listed herein, and all related technology; and (v) all Software. 
 “IRS” means the United States Internal Revenue Service. 
 “Knowledge” means with respect to the Sellers, knowledge that any of the following people have (or would reasonably be expected to have after reasonable review of files and other materials in their
possession): the Sellers and Frank Pellegrini. 
 “Law” means any constitution, act, statute, law (including common law),
ordinance, treaty, rule or regulation of any Governmental Entity. 
 “Liability” means any Indebtedness, liability, claim,
demand, expense, commitment or obligation of any kind or description (whether known or unknown, absolute, accrued, contingent, fixed or otherwise, or whether due or to become due). 
 “Loss” means any loss, liability, claim, damage or expense, including reasonable legal fees and expenses. 
 “Marks” means, collectively, trademarks, service marks, trade names, service names, brand names, trade dress rights, logos, Internet
domain names and corporate names, together with the goodwill associated with any of the foregoing, and all applications, registrations, extensions and renewals thereof. 
 “Operating Agreement” means the Limited Liability Company Agreement of White Rabbit Game Studio, LLC dated August 10, 2005, including all amendments thereto prior to the amendment executed at
Closing. 
 “Order” means any writ, judgment, decree, injunction, settlement or similar order of or approved by any
Governmental Entity (in each such case whether preliminary or final). 
 “Ordinary Course of Business” means the ordinary
course of business of the Company in substantially the same manner as currently conducted and consistent with past practice and in compliance with applicable Law. 
 “Patents” All patents and applications therefor, including provisionals, non-provisionals, continuations, divisionals, continuations-in-part, or reexaminations, reissues, extensions or renewals of
patent applications and patents issuing thereon. 
 “Permitted Liens” means the following, to the extent not securing
Indebtedness: (i) landlords’, mechanics’, carriers’, workmen’s, repairmen’s or other like liens arising or incurred in the Ordinary Course of Business, in each case for sums not yet due and payable or due but not
delinquent or being contested in good faith by appropriate proceedings; (ii) liens 

  

 53 

 
arising under original purchase price conditional sales contracts and equipment leases with third parties entered into in the Ordinary Course of Business;
(iii) statutory liens for Taxes (x) not yet due or payable, (y) that may thereafter be paid without penalty or (z) that the Company is contesting in good faith through appropriate Proceedings; and (iv) other imperfections of
title or encumbrances that, individually or in the aggregate, do not materially impair, and could not reasonably be expected materially to impair, the continued use and operation of the assets to which they relate in the conduct of the business of
the Company as currently conducted. 
 “Person” means an individual, corporation, partnership, limited liability company,
joint venture, association, trust, unincorporated organization or other entity or any Governmental Entity. 
 “Post-Closing Tax
Period” means any taxable period (or portion thereof) that begins on or after the Closing Date. 
 “Pre-Closing Tax
Period” means any taxable period (or portion thereof) that ends on or before the Closing Date. 
 “Proceeding”
means any suit, action, mediation, arbitration, investigation or other proceeding. 
 “Purchaser Material Adverse Effect”
means any change, circumstance, development, state of facts, event or effect that could reasonably be expected to prevent or materially impede, interfere with, hinder or delay (a) the ability of the Purchaser to perform its obligations under
this Agreement and the Ancillary Agreements to which it is, or is specified to be a party, or (b) the consummation by the Purchaser of the Acquisition or the other transactions contemplated by this Agreement. 
 “Release” means any spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching, dumping, pouring,
emanation or migration of any Hazardous Material in, into, onto, or through the environment (including ambient air, surface water, ground water, soils, land surface, subsurface strata) or within any building, structure, facility or fixture.

 “Seller Material Adverse Effect” means any change, circumstance, development, state of facts, event or effect that could
reasonably be expected to prevent or materially impede, interfere with, hinder or delay (a) the ability of the Sellers to perform its obligations under this Agreement and the Ancillary Agreements to which it is, or is specified to be a party,
or (b) the consummation by the Sellers of the Acquisition or the other transactions contemplated hereby or thereby. 
 “Software” means any and all (i) computer programs, including any and all software implementations of algorithms, models and methodologies, whether in source code or object code form, (ii) databases and
compilations, including any and all data and collections of data, whether machine readable or otherwise, (iii) descriptions, flow-charts and other work product used to design, plan, organize and develop any of the foregoing, screens, user
interfaces, report formats, firmware, development tools, templates, menus, buttons and icons, and (iv) documentation including user manuals and other training documentation related to any of the foregoing.” 
  

 54 

 “Specified Percentage” shall mean: (i) with respect to the first $2,038,217.44 of
the aggregate Cash Consideration paid by the Purchaser to the Sellers under this Agreement, the percentage set forth on Exhibit A under “Specified Percentage,” and (ii) with respect to any portion of the aggregate Cash
Consideration paid by the Purchaser to the Sellers in excess of the first $2,038,217.44, the Membership Interest Percentages set forth on Exhibit A.  
 “Subsidiary” means, with respect to any Person, another Person (i) an amount of the voting securities, other voting ownership or voting partnership interests, of which is sufficient to elect at
least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person or (ii) of which such first Person
is a general partner. 
 “Tax” or “Taxes” means all Federal, state, county, local, municipal, foreign and
other taxes, assessments, duties or similar charges of any kind whatsoever, including all corporate franchise, income, sales, use, ad valorem, receipts, value added, profits, license, withholding, payroll, employment, excise, premium, property,
customs, net worth, capital gains, transfer, stamp, documentary, social security, environmental, alternative minimum, occupation, recapture and other taxes, and including all interest, penalties and additions imposed with respect to such amounts,
and all amounts payable pursuant to any agreement or arrangement with respect to Taxes. 
 “Taxing Authority” means any
domestic, foreign, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising tax regulatory authority. 
 “Tax Return” or “Tax Returns” means all returns, declarations of estimated tax payments, reports, estimates,
information returns and statements, including any related or supporting information with respect to any of the foregoing, filed or to be filed with any Taxing Authority in connection with the determination, assessment, collection or administration
of any Taxes. 
 Section 9.3. Descriptive Headings; Certain Interpretations. The table of contents and headings contained in this
Agreement are for reference purposes only and shall not control or affect the meaning or construction of this Agreement. Except where expressly stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement:
(i) “or” is not exclusive and “include”, “includes” and “including” are not limiting and shall be deemed to be followed by the words “without limitation”; (ii) “hereof”,
“hereto”, “hereby”, “herein” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement;
(iii) “date hereof” refers to the date of this Agreement; (iv) “extent” in the phrase “to the extent” means the degree to which a subject or other thing extends, and such phrase does not mean simply
“if”; (v) definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; (vi) references to an agreement or instrument mean such agreement or instrument as from time to time
amended, modified or supplemented; (vii) references to a Person are also to its 

  

 55 

 
permitted successors and assigns; (viii) references to an “Article”, “Section”, “Subsection”, “Exhibit” or
“Schedule” refer to an Article of, a Section or Subsection of, or an Exhibit or Schedule to, this Agreement; (ix) words importing the masculine gender include the feminine or neuter and, in each case, vice versa; and
(x) references to a Law include any amendment or modification to such Law and any rules or regulations issued thereunder, whether such amendment or modification is made, or issuance of such rules or regulations occurs, before or after the date
of this Agreement. 
 Section 9.4. Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder
shall be assigned, in whole or in part, by operation of Law or otherwise by any of the parties without the prior written consent of the other parties, except that the Purchaser may assign in its sole discretion, any of or all its rights, interests
and obligations under this Agreement to (i) any controlled Affiliate of the Purchaser, but no such assignment shall relieve the Purchaser of any of its obligations hereunder, or (ii) any third party purchaser of the White Rabbit Division,
subject to Section 1.13 of this Agreement. Any purported assignment without such consent shall be void. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of and be enforceable by, the parties hereto
and their respective successors and assigns. 
 Section 9.5. Specific Enforcement. The parties agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled at Law, in equity or otherwise. 
 Section 9.6. Entire Agreement. This Agreement and the Ancillary Agreements, along with the Schedules and Exhibits thereto, contain the entire
agreement and understanding among the parties hereto with respect to the subject matter hereof and supersede all prior agreements and understandings relating to such subject matter. None of the parties shall be liable or bound to any other party in
any manner by any representations, warranties or covenants relating to such subject matter except as specifically set forth herein or in the Ancillary Agreements. 
 Section 9.7. Amendment and Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf of the Purchaser and Sellers holding two-thirds of the Interests, provided
that no amendment approved pursuant to the preceding clause may apply to less than all of the Sellers, without the approval of each Seller whose interest would be materially and adversely affected. No waiver of compliance with any term or provision
of this Agreement shall be effective except by an instrument in writing. Subject to the foregoing, by an instrument in writing (i) the Purchaser may waive compliance by any Seller with any term or provision of this Agreement that such Seller
was or is obligated to comply with or perform and (ii) Sellers holding two-thirds of the Interests may waive compliance by the Purchaser with any term or provision of this Agreement that the Purchaser was or is obligated to comply with or
perform, provided that no waiver approved pursuant to the preceding clause may apply to less than all of the Sellers, without the approval of each Seller whose interest would be materially and adversely affected. 
 Section 9.8. No Third-Party Beneficiaries. Except as provided in Article 8, this Agreement is for the sole benefit of the parties and their
permitted successors and assigns and nothing herein express or implied shall give or be construed to give to any Person, other than the parties and such successors and assigns, any legal or equitable rights or remedies hereunder. 
  

 56 

 Section 9.9. Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. 
 Section 9.10. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Illinois
applicable to agreements made and to be performed entirely within such State, without regard to the conflicts of law principles of such State. 
 Section 9.11. Consent to Jurisdiction. Each party hereto irrevocably submits to the exclusive jurisdiction of (a) the courts of the State of Illinois and (b) the United States District Court for the Northern District
of Illinois Eastern Division for the purposes of any suit, action or other proceeding arising out of this Agreement, any Ancillary Agreement or any transaction contemplated hereby and thereby. Each party hereto agrees to commence any action, suit or
proceeding relating hereto in the United States District Court for the Northern District of Illinois Eastern Division or if such suit, action or other proceeding may not be brought in such court for jurisdictional reasons, in the courts of the State
of Illinois. Each party hereto further agrees that service of any process, summons, notice or document in any of the manners set forth in Section 9.1 shall be effective service of process for any action, suit or proceeding in New York with
respect to any matters to which it has submitted to jurisdiction in this Section 9.11. Each party hereto irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this
Agreement, the Ancillary Agreements and the transactions contemplated hereby or thereby in (i) the courts of the State of Illinois and (ii) the United States District Court for the Northern District of Illinois Eastern Division, and hereby
further irrevocably and unconditionally waives, and agrees not to plead, claim or assert by way of motion, defense, or otherwise in any such court that it is not subject personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution, that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and, that the venue of such action suit or proceeding is improper, or that this Agreement,
any Ancillary Agreement or the Acquisition may not be enforced in or by any of the above-named courts. 
 Section 9.12. Waiver of
Jury Trial. Each party hereby waives to the fullest extent permitted by applicable Law, any right it may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement, any
Ancillary Agreement or any transaction contemplated hereby or thereby. Each party (a) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event
of litigation, seek to enforce the foregoing waiver and (b) acknowledges that it and the other parties hereto have been induced to enter into this Agreement and the Ancillary Agreements, as applicable, by, among other things, the mutual waivers
and certifications in this Section 9.12. 
 Section 9.13. Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the 

  

 57 

 
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an
acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 
  

 58 

 IN WITNESS WHEREOF, the parties have duly executed this
Agreement as of the date first written above. 
  

			
	WHITE RABBIT GAME STUDIO, LLC,
		
	By:	 	 /s/ Kenneth J. Fedesna

	Name:	 	Kenneth J. Fedesna
	Title:	 	President
	
	KENNETH FEDESNA
	
	 /s/ KENNETH FEDESNA

	
	MARK LOFFREDO
	
	 /s/ MARK LOFFREDO

	
	EDWARD PELLEGRINI
	
	 /s/ EDWARD PELLEGRINI

 Signature Page to Purchase Agreement 

	
	EDWARD SUCHOCKI
	
	 /s/ EDWARD SUCHOCKI

	
	WILLIAM J. FEDERIGHI
	
	 /s/ WILLIAM J. FEDERIGHI

	
	THOMAS M. LOTUS
	
	 /s/ THOMAS M. LOTUS

	
	DANTE FEDERIGHI
	
	 /s/ DANTE FEDERIGHI

	
	KENNETH FEDESNA,
	AS SELLERS’ REPRESENTATIVE
	
	 /s/ KENNETH FEDESNA

 Signature Page to Purchase Agreement 

			
	TOUCHTUNES MUSIC CORPORATION
		
	By:	 	 /s/ Art R. Matin

	Name:	 	Art Matin
	Title:	 	President, Chief Executive Officer

 Signature Page to Purchase Agreement 

 SCHEDULE 6.2(e) TO THE PURCHASE
AGREEMENT 
 SECTION 6.2(e): CONSENTS 
 Counterparties to the Company in the following agreements shall provide consent to the Acquisition prior to Closing: 
  

	 	•	 	 License Agreement, dated as of September 21, 2006, between Midway Amusement Games, LLC and White Rabbit Game Studios, LLC 

 SCHEDULE 6.2(f)(iv) TO THE PURCHASE
AGREEMENT 
 SECTION 6.2(f)(iv): SELLER EMPLOYMENT AGREEMENTS

 The following individuals shall execute letters of employment agreements with the Purchaser at or prior to Closing: 
  

	 	•	 	 Kenneth Fedesna 

  

	 	•	 	 Edward Pellegrini 

 EXHIBIT A 
 MEMBERSHIP INTERESTS AND ALLOCATION OF CONSIDERATION 
  

							
	 Name and Address of Member
	  	Specified Percentage
if total aggregate
Cash Consideration

paid to Sellers is less
than or equal to
$2,038,217.44 (%)	 	 	Membership
Interest Percentage
of the Company
(%)	 
	 Edward Pellegrini
	  	38.71	%	 	32.00	%
	 1303 N. LaGuna Court,
	  			 		
	 Palatine, Illinois 60067
	  			 		
			
	 Kenneth Fedesna
	  	24.80	 	 	21.00	 
	 4 Oneida Lane
	  			 		
	 Hawthorn Woods, Illinois 60047
	  			 		
			
	 Mark Loffredo
	  	9.21	 	 	12.50	 
	 31169 Prairie Ridge Road
	  			 		
	 Green Oaks, Illinois 60048
	  			 		
			
	 Edward Suchocki
	  	0	 	 	12.50	 
	 614 Hapsfield Lane
	  			 		
	 Buffalo Grove, Illinois 60089
	  			 		
			
	 William Federighi
	  	6.82	 	 	5.50	 
	 1001 S. Broadway
	  			 		
	 Park Ridge, Illinois 60068
	  			 		
			
	 Dante Federighi
	  	13.64	 	 	11.00	 
	 201 W. Grand Avenue, Apt 901
	  			 		
	 Chicago, Illinois 60610
	  			 		
			
	 Thomas Lotus
	  	6.82	 	 	5.50	 
	 9647 Los Palos Lane
	  			 		
	 Palos Hills, Illinois 60465
	  			 		
			
		  	 	 	 	 	 
	 Total
	  	100	%	 	100.00	%

  

 1 

 EXHIBIT B 
 EQUITY INTEREST AND NOTE ASSIGNMENT AGREEMENT (“Agreement”) dated as of September [    ],
2007, between KENNETH FEDESNA, MARK LOFFREDO, EDWARD PELLEGRINI, EDWARD SUCHOCKI, WILLIAM J.
FEDERIGHI, THOMAS M. LOTUS and DANTE FEDERIGHI, (each a “Seller,” and collectively the “Sellers”) and
TOUCHTUNES MUSIC CORPORATION, a Delaware corporation (the “Purchaser”). 
 INTRODUCTION 
 WHEREAS, each of the Sellers owns (i) the membership interest in White Rabbit Game Studio, LLC,
an Illinois limited liability company (the “Company”) set forth on Exhibit A hereto (each, an “Equity Interest”) and (ii) the outstanding promissory notes set forth on Exhibit B hereto (the “Debt
Interests”, together with the Equity Interests, the “Interests”). 
 WHEREAS, the Company, the Purchaser, the
Sellers’ Representative and each of the Sellers have entered into a Purchase Agreement dated as of September 24, 2007 (as it may be amended or modified from time to time, the “Purchase Agreement”); 
 WHEREAS, pursuant to the Purchase Agreement, among other things, each of the Sellers has agreed to sell, and the Purchaser has agreed to purchase, on the
terms and subject to the conditions set forth therein, all of the Interests. 
 NOW, THEREFORE, in consideration of the premises contained
herein and in the Purchase Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Capitalized terms used but not defined in this Assignment shall have the meanings assigned to them in the Purchase Agreement. 
 1. Assignment. Each Seller hereby, severally and not jointly, irrevocably sells, transfers, assigns and delivers to the Purchaser, all right, title and interest
of such Seller in and to the Interests set forth opposite such Seller’s name on Exhibit A and Exhibit B hereto. In addition, each Seller hereby resigns from any position as officer or director of the Company that he holds, effective
immediately. 
 2. Acceptance. The Purchaser hereby accepts the foregoing assignment. 
 3. Admission and Substitution of Purchaser as Member. Pursuant to Section 12 of the Amended and Restated Limited Liability Company Operating Agreement of the Company (the “Operating
Agreement”), the Purchaser (i) is hereby substituted for, and replaces for all purposes of the Operating Agreement, the Sellers as the sole Member of the Company and (ii) agrees to be bound as a Member to all of the terms and
conditions of the Operating Agreement, in either case, with effect from and as of the date hereof. 

 4. Management; Restatement of Operating Agreement. The Purchaser is hereby solely and exclusively entitled to
exercise all powers of membership in the Company, including the management thereof pursuant to Section 7 of the Operating Agreement. 
 6.
Miscellaneous. This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. This Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, any one of
which need not contain the signatures of more than one person, but all such counterparts taken together will constitute one and the same instrument. No modification or waiver of any provision of this Agreement shall be effective unless it is in
writing and signed by the party against whom enforcement is sought. 
 [Rest of page intentionally left blank.] 

 COUNTERPART SIGNATURE PAGE 
 IN WITNESS WHEREOF, the parties hereto have executed or caused this Agreement to be executed by duly authorized representatives as of the date first above written.

  

	
	KENNETH FEDESNA
	
	  

	
	MARK LOFFREDO
	
	  

	
	EDWARD PELLEGRINI
	
	  

	
	EDWARD SUCHOCKI
	
	  

	
	WILLIAM J. FEDERIGHI
	
	  

	
	THOMAS M. LOTUS
	
	  

	
	DANTE FEDERIGHI
	
	  

 [Signature Page to Equity Interest and Note Assignment Agreement] 

 COUNTERPART SIGNATURE PAGE 
 IN WITNESS WHEREOF, the parties hereto have executed or caused this Agreement to be executed by duly authorized representatives as of the date first above written.

  

			
	TOUCHTUNES MUSIC CORPORATION
		 	
		
	By:	 	  

	Name:	 	Art Matin
	Title:	 	President and Chief Executive Officer

 [Signature Page to Equity Interest and Note Assignment Agreement] 

 Exhibit A 
 EQUITY INTERESTS 
  

						
	 Seller
	  	 Address
	  	Membership Interests
(%)	 
	Edward Pellegrini	  	 1303 N. LaGuna Court, 
 Palatine, Illinois
60067
	  	32.00	%
			
	Kenneth Fedesna	  	 4 Oneida Lane
 Hawthorn Woods, Illinois
60047
	  	21.00	 
			
	Mark Loffredo	  	 31169 Prairie Ridge Road
 Green Oaks, Illinois 60048

	  	12.50	 
			
	Edward Suchocki	  	 614 Hapsfield Lane
 Buffalo Grove, Illinois
60089
	  	12.50	 
			
	William Federighi	  	 1001 S. Broadway
 Park Ridge, Illinois
60068
	  	5.50	 
			
	Dante Federighi	  	 201 W. Grand Avenue, Apt 901
 Chicago, Illinois 60610

	  	11.00	 
			
	Thomas Lotus	  	 9647 Los Palos Lane
 Palos Hills, Illinois
60465
	  	5.50	 
			
	 Total
	  		  	100.00	%

 Exhibit B 
 DEBT INTERESTS 
  

										
	 Seller
	  	Promissory Note
Amount	  	Interest Amount	  	Total
	 Edward Pellegrini
	  	$	100,000.00	  			  		
		  	$	150,000.00	  			  		
		  	$	150,000.00	  			  		
		  	$	100,000.00	  			  		
		  	$	50,000.00	  			  		
		  	$	40,250.00	  			  		
		  	$	55,000.00	  			  		
		  	$	36,500.00	  			  		
		  	$	36,500.00	  			  		
		  	$	36,500.00	  			  		
	 Subtotal
	  	$	754,750.00	  	$	34,123,56	  	$	788,873.56
	 Kenneth Fedesna
	  	$	100,000.00	  			  		
		  	$	100,000.00	  			  		
		  	$	100,000.00	  			  		
		  	$	50,000.00	  			  		
		  	$	26,250.00	  			  		
		  	$	35,500.00	  			  		
		  	$	24,000.00	  			  		
		  	$	24,000.00	  			  		
		  	$	24,000.00	  			  		
	 Subtotal
	  	$	483,750.00	  	$	21,819.28	  	$	505,569.28
	 Mark Loffredo
	  	$	50,000.00	  			  		
		  	$	50,000.00	  			  		
		  	$	15,750.00	  			  		
		  	$	21,500.00	  			  		
		  	$	14,300.00	  			  		
		  	$	14,300.00	  			  		
		  	$	14,300.00	  			  		
	 Subtotal
	  	$	180,150.00	  	$	7,636.51	  	$	187,786.51
	 Dante Federighi
	  	$	200,000.00	  			  		
		  	$	14,000.00	  			  		
		  	$	19,000.00	  			  		
		  	$	12,600.00	  			  		
		  	$	12,600.00	  			  		
		  	$	12,600.00	  			  		
	 Subtotal
	  	$	270,800.00	  	$	7,186.27	  	$	277,986.27
	 William Federighi
	  	$	100,000.00	  			  		
		  	$	7,000.00	  			  		
		  	$	9,500.00	  			  		
		  	$	6,300.00	  			  		
		  	$	6,300.00	  			  		
		  	$	6,300.00	  			  		

  

										
	 Seller
	  	Promissory Note
Amount	  	Interest Amount	  	Total
	 Subtotal
	  	$	135,400.00	  	$	3,600.90	  	$	139,000.90
	 Thomas Lotus
	  	$	100,000.00	  			  		
		  	$	7,000.00	  			  		
		  	$	9,500.00	  			  		
		  	$	6,300.00	  			  		
		  	$	6,300.00	  			  		
		  	$	6,300.00	  			  		
	 Subtotal
	  	$	135,400.00	  	$	3,600.90	  	$	139,000.90
	 Edward Suchocki
	  	$	0.00	  			  	$	0.00
	 Subtotal
	  	$	0.00	  	$	0.00
	  	$	0.00
	 Total
	  	$	1,960,250.00	  	$	77,967.44	  	$	2,038,217.44

 EXHIBIT C-1 
 SELLER-INVENTOR IP ASSIGNMENT AGREEMENT 
 GENERAL INTELLECTUAL PROPERTY AND 
 TECHNOLOGY
ASSIGNMENT 
 This GENERAL INTELLECTUAL PROPERTY
AND TECHNOLOGY ASSIGNMENT is made this [    ] day of September, 2007 (this “Assignment”), by [            ]
(hereinafter referred to as “Assignor”), to White Rabbit Game Studio, LLC, a limited liability company organized under the laws of the State of Illinois with an office at 201 Crossen Ave., Elk Grove Village, Illinois (hereinafter
referred to as “Assignee” or the “Company”). 
 WHEREAS, pursuant to the terms of the Purchase Agreement,
dated as of September 24, 2007 (the “Purchase Agreement”), among the Purchaser, Sellers, Assignee and Kenneth Fedesna, as Sellers’ Representative, Assignor and the other Sellers have agreed to, sell, transfer, assign and
deliver to the Company all Intellectual Property of or otherwise relating to the Company. Capitalized terms used but not defined in this Assignment shall have the meanings assigned to them in the Purchase Agreement. 
 NOW, THEREFORE, in consideration of the premises contained herein and in the Purchase Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Assignor by these presents agrees as follows: 
 1. Assignor hereby automatically,
sells, assigns, transfers and delivers to Assignee all rights, title and interests of Assignor in and to any and all Intellectual Property, including without limitation any game or product listed on Attachment 1 hereto and any other game or product,
in each case, being designed or developed by or on behalf of the Company on or prior to the Closing Date, including without limitation, (i) all Intellectual Property conceived, developed, or otherwise created by Assignor or any other Seller on
behalf of the Company, in whole or in part, solely or jointly with others, including, without limitation, all Intellectual Property conceived, developed, or created by Assignor (A) on behalf of the Company or with any use or assistance of any
of the Company’s tangible or intangible property or other resources (including without limitation, any of the Company’s Intellectual Property or Confidential Information), or (B) in the course of employment or while under contract by
or with the Company (in connection with the services provided to the Company pursuant to such contract)[, including, without limitation, any and all right, title or interest in any “Work Product” as defined in that certain Work for Hire
Agreement dated as of February 1, 2006, between the Company and Gr8 Games, L.L.C.][for Suchocki agreement], (ii) all Intellectual Property of, used, held for use, or otherwise licensed to the Company, including without limitation,
the Intellectual Property listed on Attachment 2, (iii) all Intellectual Property and all rights, title and interests of Assignor in and to any and all Intellectual Property that have been or could be deemed to have been assigned, transferred
or otherwise conveyed to Assignor pursuant to Section 9.1 or any other provisions of the Company’s Limited Liability Company Operating Agreement (“Operating Agreement”), including any and all Intellectual Property and all
rights, title or interests in and to any and all Intellectual Property that Assignor may obtain in the future pursuant to the Operating Agreement, (iv) all rights to collect royalties, income, damages and proceeds, in each case 

  

 1 

 
inuring to the benefit of Assignor, in connection with any of the Intellectual Property described in this Section 1; and (v) all rights to sue or
assert any claims (claims for past, present or future, including, without limitation, past, present or future infringement), collect royalties, income, damages (including, without limitation, damages for past, present or future infringement) of
Assignor in connection with any of the Intellectual Property listed or otherwise described in this Section 1. 
 2. Assignor
acknowledges and agrees that, as between Assignee and Assignor, Assignee is and shall remain the sole and exclusive owner of all Intellectual Property assigned to Assignee hereunder and that, as between Assignor and Assignee, Assignee shall have the
sole and exclusive right to obtain, maintain, hold, register and enforce such Intellectual Property. Assignor shall not challenge, or assist or encourage any other Person to challenge, (i) the validity, enforceability, scope, duration,
priority, effectiveness, or ownership of, or right to use, such Intellectual Property, or (ii) otherwise take any actions which could materially adversely affect such Intellectual Property. 
 3. Assignor represents and warrants (i) that the Assignment, executed on January 11, 2007 and regarding U.S. Patent Application
No. 11/624,008 (entitled Coin Operated Game Terminal), between Kenneth J. Fedesna, Mark D. Loffredo, Edward J. Suchocki, Edward E. Pellegrini and Frank J. Pellegrini and the Company is valid, enforceable and in full force and effect with
respect to the Assignor and (ii) that Assignor neither has nor possesses any right(s), title or interest(s) in or to such patent application or any Intellectual Property embodied or disclosed in such patent application, or any other rights
assigned pursuant to the January 11, 2007 Assignment (the “Patent Rights”). 
 4. Assignor shall, from time to time, take such
actions and give any written further assurance and execute such individual confirmatory assignment deeds, change of name or address certificates and any other instruments, documents or agreements prepared by Assignee, at Assignee’s expense,
necessary or desirable for the effectuation or recordation of this Assignment or the prosecution, protection, maintenance, defense or enforcement of the Patent Rights or any other Intellectual Property of the Company. 
 5. This Assignment shall be governed by and construed in accordance with the laws of the State of Illinois. This Assignment may be executed and delivered
(including by facsimile transmission) in one or more counterparts, any one of which need not contain the signatures of more than one person, but all such counterparts taken together will constitute one and the same instrument. No modification or
waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the parties hereto. 
 6. If any term or
other provision of this Assignment is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Assignment shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the parties shall negotiate in good faith to modify this Assignment so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent
possible. 

 7. The parties agree that irreparable damage would occur in the event that any of the provisions of this
Assignment were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Assignment and to enforce
specifically the terms and provisions of this Assignment, this being in addition to any other remedy to which they are entitled at Law, in equity or otherwise. 
 This Assignment shall be effective as of the date first above written (the “Effective Date”). 

 IN WITNESS WHEREOF, the undersigned has executed the Assignment as of the date first above written.

  

	
	  

  

			
	)	 	
	)	 	SS.
	)	 	

 I, a notary public for the state aforesaid, do hereby certify that
                                         appeared
before me this day in person and acknowledged the execution of the foregoing Assignment as his free and voluntary act. 
 IN WITNESS WHEREOF,
I have hereunto set my hand and notorial seal this      day of             , 2007. 
  

	
	  

	Notary Public

 My commission expires: 
 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
  

 GAMES AND OTHER
PRODUCTS 
 All Software and other Intellectual Property listed in detail on the WR Software Project Schedule dated
June 19, 2007, under the following headings: 
  
 1. WR User Interface. 
 2. WR System Software. 
 3. WR <-> Jukebox Connectivity. 

4. WR<-> TT Server Connectivity. 
 5. WR Game Software. See detail
listing attached 
 6. WR Operator Interface. 
  

 7. RH/WR Firmware and Hardware Interface Software. 

8. Render Engine – Includes Field Programmable Gate Array which is subject to a license from RightHand Technologies, Inc. (“RightHand”) to the Company
under the Arcade Video Game Platform License and Royalty Agreement dated April 2, 2007, by and between RightHand and the Company. 
 9. RH/WR Factory
Software. 

  
 INTELLECTUAL
PROPERTY ASSIGNED 
 WR Game Software1 
  

	1	The names of some of the above games are placeholder titles and are for internal use only, and subject to change. 

  
 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
  

 Event Library 
 Sound Library (Certain sound files are licensed by the Company pursuant to a license agreement with Midway Amusement Games, LLC.)

 Game Link Library 
 PhotoQuest (revisions A) 
 PhotoQuest (revisions B) 
 PhotoQuest- Linked (revisions A) 
 PhotoQuest-Linked (revisions B) 
 Texas Holdem- Limit (revisions A)

 Texas Holdem- Limit- Linked (revisions A) 
 Texas Holdem- No
Limit (revisions A) 
 Texas Holdem- No Limit- Linked (revisions A) 
 Texas Holdem Art (file reorganization) 
 Texas Holdem Art (revisions) 
 Fast Facts Game 
 Fast Facts Game (revisions) 
 Fast Facts Game-Linked 
 Fast Facts Game Art (concept design) 
 Fast Facts Game Art 
 OutbackGammon 
 OutbackGammon (revisions A) 
 OutbackGammon (revisions B) 
 OutbackGammon Art 
 Secret Word 
 Secret Word Art

 Treasure Links 
 Treasure Links (revisions) 
 Treasure Links Art 
 Tackle Blox (revisions) 
 Tackle Blox Art (revisions) 
 Rejeweled 
  

 Rejeweled (revisions) 
 Rejeweled Art 
 Word Market 
 Word Market (revisions) 
 Word Market Art

 Word Market Bonus Game Art 
 Word Market Art (revisions)

 Rabbit Club 
 Sudoku 9×9 
 Sudoku 9×9 Art 
 Sudoku Art (revisions) 
 Sudoku 6×6 
 Sudoku 6×6 Art 
 Sudoku 6×6 Art (revisions) 
 Solitaire Gold 
 Solitaire Gold Art 
 Target 21 Replacement Game 
 Target 21 Replacement Game Art 
 Solitaire Super Replacement 
 Solitaire Super Replacement Art 
 Cave Bam 
 Cave Bam Art 
 Bag Toss 
 Bags Toss Art 
 Putt Putt Golf 
 Putt Putt Golf Art 
 Putt Putt Golf Art (revisions) 
 Midway Infinity Games – Under License from Midway Amusement Games, LLC 
 Snap Leisure Trivia questions – Under License from Snap Leisure, LLC 
 PhotoQuest Pictures – Under License from AdFactory

  
 Signature Page to IP Assignment Agreement

 ATTACHMENT 2 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
  

 APPLICATIONS FOR REGISTERED PATENTS

  

	1.	U.S. Applications 

  

					
	 Patent Application
	  	 Application
 Number
	  	 Application Date

	 Coin Operated Game Terminal
	  	11/624,008	  	January 17, 2007

  
 Signature Page to IP
Assignment Agreement 

 EXHIBIT C-2 
 NON-INVENTOR IP ASSIGNMENT AGREEMENT 
 GENERAL INTELLECTUAL PROPERTY AND 
 TECHNOLOGY
ASSIGNMENT 
 This GENERAL INTELLECTUAL PROPERTY
AND TECHNOLOGY ASSIGNMENT is made this [    ] day of September, 2007 (this “Assignment”), by
[                ] (hereinafter referred to as “Assignor”), to White Rabbit Game Studio, LLC, a limited liability company organized under the
laws of the State of Illinois with an office at 201 Crossen Ave., Elk Grove Village, Illinois (hereinafter referred to as “Assignee” or the “Company”). 
 WHEREAS, pursuant to the terms of the Purchase Agreement, dated as of September 24, 2007 (the “Purchase
Agreement”), among the Purchaser, Sellers, Assignee and Kenneth Fedesna, as Sellers’ Representative, Assignor and the other Sellers have agreed to, sell, transfer, assign and deliver to the Company all Intellectual
Property of or otherwise relating to the Company. Capitalized terms used but not defined in this Assignment shall have the meanings assigned to them in the Purchase Agreement. 
 NOW, THEREFORE, in consideration of the premises contained herein and in the Purchase Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Assignor by these presents agrees as follows: 
 1. Assignor hereby automatically,
sells, assigns, transfers and delivers to Assignee all rights, title and interests of Assignor in and to any and all Intellectual Property, including without limitation any game or product listed on Attachment 1 hereto and any other game or product,
in each case, being designed or developed by or on behalf of the Company on or prior to the Closing Date, including without limitation, (i) all Intellectual Property conceived, developed, or otherwise created by Assignor or any other Seller on
behalf of the Company, in whole or in part, solely or jointly with others, including, without limitation, all Intellectual Property conceived, developed, or created by Assignor (A) on behalf of the Company or with any use or assistance of any
of the Company's tangible or intangible property or other resources (including without limitation, any of the Company’s Intellectual Property or Confidential Information), or (B) in the course of employment or while under contract by or
with the Company (in connection with the services provided to the Company pursuant to such contract), (ii) all Intellectual Property of, used, held for use, or otherwise licensed to the Company, including without limitation, the Intellectual
Property listed on Attachment 2, (iii) all Intellectual Property and all rights, title and interests of Assignor in and to any and all Intellectual Property that have been or could be deemed to have been assigned, transferred or otherwise
conveyed to Assignor pursuant to Section 9.1 or any other provisions of the Company’s Limited Liability Company Operating Agreement (“Operating Agreement”), including any and all Intellectual Property and all
rights, title or interests in and to any and all Intellectual Property that Assignor may obtain in the future pursuant to the Operating Agreement, (iv) all rights to collect royalties, income, damages and proceeds, in each case inuring to the
benefit of Assignor, in connection with any of the Intellectual Property described in this Section 1; and (v) all rights to sue or assert any claims (past, present or future, including, without limitation, claims for past, present or

  

 1 

 
future infringement), collect royalties, income, damages (including, without limitation, damages for past, present or future infringement) of Assignor in
connection with any of the Intellectual Property listed or otherwise described in this Section 1. 
 2. Assignor acknowledges and agrees
that, as between Assignor and Assignee, Assignee is and shall remain the sole and exclusive owner of all Intellectual Property assigned to Assignee hereunder and that, as between Assignor and Assignee, Assignee shall have the sole and exclusive
right to obtain, maintain, hold, register and enforce such Intellectual Property. Assignor shall not challenge, or assist or encourage any other Person to challenge, (i) the validity, enforceability, scope, duration, priority, effectiveness, or
ownership of, or right to use, such Intellectual Property, or (ii) otherwise take any actions which could materially adversely affect such Intellectual Property. 
 3. Assignor shall, from time to time, take such actions and give any written further assurance and execute such individual confirmatory assignment deeds, change of name or address certificates and any other
instruments, documents or agreements prepared by Assignee, at Assignee’s expense, necessary or desirable for the effectuation or recordation of this Assignment or the prosecution, protection, maintenance, defense or enforcement of the Patent
Rights or any other Intellectual Property of the Company. 
 4. This Assignment shall be governed by and construed in accordance with the
laws of the State of Illinois. This Assignment may be executed and delivered (including by facsimile transmission) in one or more counterparts, any one of which need not contain the signatures of more than one person, but all such counterparts taken
together will constitute one and the same instrument. No modification or waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the parties hereto. 
 5. If any term or other provision of this Assignment is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other
conditions and provisions of this Assignment shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto.
Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Assignment so as to effect the original intent of the parties as closely as
possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 
 6. The parties
agree that irreparable damage would occur in the event that any of the provisions of this Assignment were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled
to an injunction or injunctions to prevent breaches of this Assignment and to enforce specifically the terms and provisions of this Assignment, this being in addition to any other remedy to which they are entitled at Law, in equity or otherwise.

 This Assignment shall be effective as of the date first above written (the “Effective Date”). 
  

 2 

 IN WITNESS WHEREOF, the undersigned has executed the Assignment as of the date first above written.

  

	
	  

	 Name:

 Signature Page to IP Assignment Agreement 

									
		  	)	  		  		  	
		  	)	  	SS.	  		  	
		  	)	  		  		  	

 I, a notary public for the state aforesaid, do hereby certify that
                     appeared before me this day in person and acknowledged the execution of the foregoing Assignment as his free and voluntary act.

 IN WITNESS WHEREOF, I have hereunto set my hand and notorial seal this
            day of             , 2007. 
  

	
	
	  

	Notary Public

 My commission expires: 
  

 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
 GAMES AND OTHER PRODUCTS 
 All
Software and other Intellectual Property listed in detail on the WR Software Project Schedule dated June 19, 2007, under the following headings: 
  
 1. WR User Interface. 
 2. WR System Software. 
 3. WR <-> Jukebox Connectivity. 

4. WR<-> TT Server Connectivity. 
 5. WR Game Software. See detail
listing attached 
 6. WR Operator Interface. 
  

 7. RH/WR Firmware and Hardware Interface Software. 

8. Render Engine – Includes Field Programmable Gate Array which is subject to a license from RightHand Technologies, Inc. (“RightHand”) to the Company
under the Arcade Video Game Platform License and Royalty Agreement dated April 2, 2007, by and between RightHand and the Company. 
 9. RH/WR Factory
Software. 

  
 INTELLECTUAL
PROPERTY ASSIGNED 
 WR Game Software1 
  

	 1
	 The names of some of the above games are placeholder titles and are for internal use only, and subject to change.

  

 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
  
 Event Library 
 Sound Library (Certain sound files are licensed by the Company pursuant to a license agreement with Midway
Amusement Games, LLC.) 
 Game Link Library 
 PhotoQuest
(revisions A) 
 PhotoQuest (revisions B) 
 PhotoQuest- Linked
(revisions A) 
 PhotoQuest-Linked (revisions B) 
 Texas Holdem-
Limit (revisions A) 
 Texas Holdem- Limit- Linked (revisions A) 
 Texas Holdem- No Limit (revisions A) 
 Texas Holdem- No Limit- Linked (revisions A) 
 Texas Holdem Art (file reorganization) 
 Texas Holdem Art (revisions) 
 Fast Facts Game 
 Fast Facts Game (revisions) 
 Fast Facts Game- Linked 
 Fast Facts Game Art (concept design) 
 Fast Facts Game Art 
 OutbackGammon 
 OutbackGammon (revisions A) 
 OutbackGammon (revisions B) 
 OutbackGammon Art 
 Secret Word 
 Secret Word Art 
 Treasure Links 
 Treasure Links (revisions) 
 Treasure Links Art 
 Tackle Blox (revisions) 
 Tackle Blox Art (revisions) 
 Rejeweled 
  

 Rejeweled (revisions) 
 Rejeweled Art 
 Word Market 
 Word Market (revisions) 
 Word Market Art 
 Word Market Bonus Game Art 
 Word Market Art (revisions) 
 Rabbit Club 
 Sudoku 9×9 
 Sudoku 9×9 Art 
 Sudoku Art (revisions) 
 Sudoku 6×6 
 Sudoku 6×6 Art 
 Sudoku 6×6 Art (revisions) 
 Solitaire Gold 
 Solitaire Gold Art 
 Target 21 Replacement Game 
 Target 21 Replacement Game Art 
 Solitaire Super Replacement 
 Solitaire Super Replacement Art 
 Cave Bam 
 Cave Bam Art 
 Bag Toss 
 Bags Toss Art 
 Putt Putt Golf 
 Putt Putt Golf Art 
 Putt Putt Golf Art (revisions) 
 Midway Infinity Games – Under License from Midway Amusement Games, LLC 
 Snap Leisure Trivia questions – Under License from Snap Leisure, LLC 
 PhotoQuest Pictures – Under License from AdFactory

  

 Signature Page to IP Assignment Agreement 

 ATTACHMENT 2 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
 APPLICATIONS FOR REGISTERED PATENTS 
 1. U.S. Applications 
  

					
	 Patent Application
	  	Application
Number	  	Application Date
	 Coin Operated Game Terminal
	  	11/624,008	  	January 17, 2007

 EXHIBIT C-3 
 PELLEGRINI GENERAL IP ASSIGNMENT AGREEMENT 
 GENERAL INTELLECTUAL PROPERTY AND 
 TECHNOLOGY
ASSIGNMENT 
 This GENERAL INTELLECTUAL PROPERTY
AND TECHNOLOGY ASSIGNMENT is made this [            ] day of September, 2007 (this “Assignment”), by Frank J. Pellegrini
(hereinafter referred to as “Assignor”), to White Rabbit Game Studio, LLC, a limited liability company organized under the laws of the State of Illinois with an office at 201 Crossen Ave., Elk Grove Village, Illinois (hereinafter
referred to as “Assignee” or the “Company”). 
 WHEREAS, pursuant to the terms of the Purchase Agreement,
dated as of September 24, 2007 (the “Purchase Agreement”), among the Purchaser, Sellers, Assignee and Kenneth Fedesna, as Sellers’ Representative, the Sellers have agreed to, sell, transfer, assign and deliver, and to
cause Assignor to sell, transfer, assign and deliver to the Company all Intellectual Property of or otherwise relating to the Company. Capitalized terms used but not defined in this Assignment shall have the meanings assigned to them in the Purchase
Agreement. 
 NOW, THEREFORE, in consideration of the premises contained herein and in the Purchase Agreement, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor by these presents agrees as follows: 
 1.
Assignor hereby automatically, sells, assigns, transfers and delivers to Assignee all rights, title and interests of Assignor in and to any and all Intellectual Property, including without limitation any game or product listed on Attachment 1 hereto
and any other game or product, in each case, being designed or developed by or on behalf of the Company on or prior to the Closing Date, including without limitation, (i) all Intellectual Property conceived, developed, or otherwise created by
Assignor or any other Seller on behalf of the Company, in whole or in part, solely or jointly with others, including, without limitation, all Intellectual Property conceived, developed, or created by Assignor (A) on behalf of the Company or
with any use or assistance of any of the Company's tangible or intangible property or other resources (including without limitation, any of the Company’s Intellectual Property or Confidential Information), or (B) in the course of
employment or while under contract by or with the Company (in connection with the services provided to the Company pursuant to such contract), (ii) all Intellectual Property of, used, held for use, or otherwise licensed to the Company,
including without limitation, the Intellectual Property listed on Attachment 2, (iii) all rights to collect royalties, income, damages and proceeds, in each case inuring to the benefit of Assignor, in connection with any of the Intellectual
Property described in this Section 1; and (iv) all rights to sue or assert any claims (past, present or future, including, without limitation, claims for past, present or future infringement), collect royalties, income, damages (including,
without limitation, damages for past, present or future infringement) of Assignor in connection with any of the Intellectual Property listed or otherwise described in this Section 1. 
 2. Assignor acknowledges and agrees that, as between Assignor and Assignee, Assignee is and shall remain the sole and exclusive owner of all Intellectual
Property assigned to Assignee hereunder and that, as between Assignor and Assignee, Assignee shall have 

  

 1 

 
the sole and exclusive right to obtain, maintain, hold, register and enforce such Intellectual Property. Assignor shall not challenge, or assist or encourage
any other Person to challenge, (i) the validity, enforceability, scope, duration, priority, effectiveness, or ownership of, or right to use, such Intellectual Property, or (ii) otherwise take any actions which could materially adversely
affect such Intellectual Property. 
 3. Assignor represents and warrants (i) that the Assignment, executed on January 11, 2007 and
regarding U.S. Patent Application No. 11/624,008 (entitled Coin Operated Game Terminal), between Kenneth J. Fedesna, Mark D. Loffredo, Edward J. Suchocki, Edward E. Pellegrini and Frank J. Pellegrini and the Company is valid, enforceable and in
full force and effect with respect to the Assignor and (ii) that Assignor neither has nor possesses any right(s), title or interest(s) in or to such patent application or any Intellectual Property embodied or disclosed in such patent
application, or any other rights assigned pursuant to the January 11, 2007 Assignment (the “Patent Rights”). 
 4. Assignor
shall, from time to time, take such actions and give any written further assurance and execute such individual confirmatory assignment deeds, change of name or address certificates and any other instruments, documents or agreements prepared by
Assignee, at Assignee’s expense, necessary or desirable for the effectuation or recordation of this Assignment or the prosecution, protection, maintenance, defense or enforcement of the Patent Rights or any other Intellectual Property of the
Company. 
 5. This Assignment shall be governed by and construed in accordance with the laws of the State of Illinois. This Assignment may
be executed and delivered (including by facsimile transmission) in one or more counterparts, any one of which need not contain the signatures of more than one person, but all such counterparts taken together will constitute one and the same
instrument. No modification or waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the parties hereto. 
 6. If any term or other provision of this Assignment is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all other conditions and provisions of this Assignment shall nevertheless
remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such determination that any term or other provision is
invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Assignment so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that transactions
contemplated hereby are fulfilled to the extent possible. 
 7. The parties agree that irreparable damage would occur in the event that any
of the provisions of this Assignment were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this
Assignment and to enforce specifically the terms and provisions of this Assignment, this being in addition to any other remedy to which they are entitled at Law, in equity or otherwise. 
  

 2 

 This Assignment shall be effective as of the date first above written (the “Effective Date”).

  

 3 

 IN WITNESS WHEREOF, the undersigned has executed the Assignment as of the date first above written.

  

	
	
	  

 Signature Page to IP Assignment Agreement 

					
		 	 )
	 	
		 	 )
	 	SS.
		 	 )
	 	

 I, a notary public for the state aforesaid, do hereby certify that
                                         appeared
before me this day in person and acknowledged the execution of the foregoing Assignment as his free and voluntary act. 
 IN WITNESS WHEREOF,
I have hereunto set my hand and notorial seal this      day of             , 2007. 
  

	
	  

	 Notary Public

 My commission expires: 
 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
 GAMES AND OTHER PRODUCTS 
 All
Software and other Intellectual Property listed in detail on the WR Software Project Schedule dated June 19, 2007, under the following headings: 
  
 1. WR User Interface. 
 2. WR System Software. 
 3. WR <-> Jukebox Connectivity. 

4. WR<-> TT Server Connectivity. 
 5. WR Game Software. See detail
listing attached 
 6. WR Operator Interface. 
  

 7. RH/WR Firmware and Hardware Interface Software. 

8. Render Engine – Includes Field Programmable Gate Array which is subject to a license from RightHand Technologies, Inc. (“RightHand”) to the Company
under the Arcade Video Game Platform License and Royalty Agreement dated April 2, 2007, by and between RightHand and the Company. 
 9. RH/WR Factory
Software. 

  
 INTELLECTUAL
PROPERTY ASSIGNED 
 WR Game Software1 
  

	 1
	 The names of some of the above games are placeholder titles and are for internal use only, and subject to change.

 Signature Page to IP Assignment Agreement 

 ATTACHMENT 1 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
  

 Event Library 
 Sound Library (Certain sound files are licensed by the Company pursuant to a license agreement with Midway Amusement Games, LLC.)

 Game Link Library 
 PhotoQuest (revisions A) 
 PhotoQuest (revisions B) 
 PhotoQuest- Linked (revisions A) 
 PhotoQuest-Linked (revisions B) 
 Texas Holdem- Limit (revisions A)

 Texas Holdem- Limit- Linked (revisions A) 
 Texas Holdem- No
Limit (revisions A) 
 Texas Holdem- No Limit- Linked (revisions A) 
 Texas Holdem Art (file reorganization) 
 Texas Holdem Art (revisions) 
 Fast Facts Game 
 Fast Facts Game (revisions) 
 Fast Facts Game- Linked 
 Fast Facts Game Art (concept design) 
 Fast Facts Game Art 
 OutbackGammon 
 OutbackGammon (revisions A) 
 OutbackGammon (revisions B) 
 OutbackGammon Art 
 Secret Word 
 Secret Word Art

 Treasure Links 
 Treasure Links (revisions) 
 Treasure Links Art 
 Tackle Blox (revisions) 
 Tackle Blox Art (revisions) 
 Rejeweled 
  

 Rejeweled (revisions) 
 Rejeweled Art 
 Word Market 
 Word Market (revisions) 
 Word Market Art

 Word Market Bonus Game Art 
 Word Market Art (revisions)

 Rabbit Club 
 Sudoku 9x9 
 Sudoku 9x9 Art 
 Sudoku Art (revisions) 
 Sudoku 6x6 
 Sudoku 6x6 Art 
 Sudoku 6x6 Art (revisions) 
 Solitaire Gold 
 Solitaire Gold Art 
 Target 21 Replacement Game 
 Target 21 Replacement Game Art 
 Solitaire Super Replacement 
 Solitaire Super Replacement Art 
 Cave Bam 
 Cave Bam Art 
 Bag Toss 
 Bags Toss Art 
 Putt Putt Golf 
 Putt Putt Golf Art 
 Putt Putt Golf Art (revisions) 
 Midway Infinity Games – Under License from Midway Amusement Games, LLC 
 Snap Leisure Trivia questions – Under License from Snap Leisure, LLC 
 PhotoQuest Pictures – Under License from AdFactory

 ATTACHMENT 2 TO 
 GENERAL IP AND TECHNOLOGY ASSIGNMENT AGREEMENT 
 APPLICATIONS FOR REGISTERED PATENTS 
  

	1.	U.S. Applications 

  

					
	 Patent Application
	  	 Application Number
	  	 Application Date

	 Coin Operated Game Terminal
	  	11/624,008	  	January 17, 2007

 EXHIBIT D 
 AMENDMENT NO. 1 TO 
 INVESTORS’ RIGHTS AGREEMENT 
 This Amendment No. 1 (the “Amendment”) to the Investors’ Rights Agreement (the “Agreement”), dated as of November 9,
2006, is made and entered into by and among TouchTunes Music Corporation, a Delaware corporation (the “Company”), the undersigned parties to the Agreement (the “Existing Parties”), and the other signatories to this Amendment (the
“Additional Parties”) as of the      day of September, 2007. Capitalized terms used herein and not defined herein shall have the meanings set forth in the Agreement. 
 WHEREAS, the Company and the Existing Parties have previously entered into the Agreement; 
 WHEREAS, Section 3.7 of the Agreement states that the Agreement may be amended by written consent of the holder or holders of a majority of the
Registrable Securities; 
 WHEREAS, the Existing Parties, in the aggregate, hold a majority of the Registrable Securities; 
 WHEREAS, the Company has entered into a Purchase Agreement, dated as of September 24, 2007, with the Additional Parties, pursuant to which the
Additional Parties are selling all of the membership interests in White Rabbit Game Studio, LLC to the Company for a purchase price which includes the issuance of a maximum of 2,000,000 shares of common stock in the Company to the Additional
Parties; 
 WHEREAS, as a condition to the closing of the transactions under the Purchase Agreement, the Additional Parties are to be added
as parties to the Agreement with respect to certain rights and obligations; and 
 WHEREAS, the Company and the Existing Parties wish to
amend the Agreement to add the individuals listed on Exhibit A as Additional Parties to and “Holders” under the Agreement and the Additional Parties wish to become “Holders” under the Agreement. 

 NOW, THEREFORE, in consideration of the mutual covenants herein, the parties agree as follows:

 1. Each individual listed on Exhibit A is hereby added as a party to the Agreement and shall be deemed to be a “Holder” (but not
an “Investor”) under the Agreement, with all rights as a “Holder” under Section 1, other than those set forth in Section 1.14 thereof. Each of the Additional Parties hereby agrees to be bound by all of the terms and
conditions of the Agreement applicable to a “Holder.” 
 2. The definition of “Registrable Securities” is hereby deleted
and replaced in its entirety by the following: 
 “The term “Registrable Securities” means the Common Stock (i) issuable
or issued to the Additional Parties as Sellers, as defined below, pursuant to the Purchase Agreement, dated September 24, 2007, among TouchTunes Music Corporation, White Rabbit Game Studio, LLC, the Sellers’ Representative and the Sellers
(“Sellers”) as defined therein (the “Purchase Agreement”), and (ii) issuable or issued upon conversion of (a) the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock and (b) any Common
Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the shares referenced
in (i) and (ii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which his rights under this Section 1 are not assigned.” 
 3. The fourth sentence of Section 1.2(b) of the Agreement is hereby deleted and replaced in its entirety by the following: 
 “Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Company that marketing factors require a limitation on
the number of securities underwritten (including Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares that may be included in
the underwriting shall be allocated (i) first to Holders of Registrable Securities who hold (A) Series C Preferred Stock or Common Stock issued upon the conversion of Series C Preferred Stock and (B) Common Stock issued pursuant to
the Purchase Agreement, pro rata among the Holders in clauses (A) and (B) according to the number of Registrable Securities held by each such Holder, and (ii) second, to the remaining Holders of Registrable Securities pro rata based
on the number of Registrable Securities held by all such Holders. In no event shall any Registrable Securities be excluded from such underwriting unless all other securities are first excluded. Any Registrable Securities excluded or withdrawn from
such underwriting shall be withdrawn from the registration.” 
 4. The following is added to the second sentence of the first paragraph
of Section 3.7: “; provided however, that so long as the Additional Parties hold any Registrable Securities, no amendment, modification or waiver of any provision of this Agreement shall be made without the prior written consent of the
Additional Parties holding not less than a majority of the Registrable Shares then held by the Additional Parties and their permitted assigns under Section 1.11, if the effect of such amendment, 

  

 2 

 
modification or waiver would increase the obligation of the Additional Parties or such permitted assigns, or reduce or subordinate the rights of the
Additional Parties or such permitted assigns, in either case in a manner different from the effect on the other Holders of Registrable Securities.” 
 5. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, shall be governed by and construed in accordance with the laws of the State
of Delaware and may not be modified or amended except by a written agreement signed by both of the parties hereto. 
 6. This Amendment may
be executed in one or more counterparts (including by facsimile), each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument. 
 7. Except as specifically amended by this Amendment, the Agreement shall remain in full force and effect. 
 [The remainder of this page has been intentionally left blank.] 
  

 3 

 EXHIBIT D 
 COUNTERPART SIGNATURE PAGE 
 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
day and year first above written. 
  

			
	TouchTunes Music Corporation
		
	By:	 	  

		 	Art Matin
		 	President and Chief Executive Officer

			
		
	Address:	 	3 Commerce Place
		 	4th floor
		 	Montreal, Quebec
		 	H3E 1H7
		 	Canada
	Attention:	 	Art Matin
	Facsimile No.:	 	(514) 762-6483

 Signature Page to Amendment to Investors’ Rights Agreement 

 COUNTERPART SIGNATURE PAGE 
 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first above written. 
  

			
	VANTAGEPOINT CDP PARTNERS, L.P.
		
	By:	 	VantagePoint CDP Associates, L.P.,
	By:	 	VantagePoint CDP Associates, L.L.C.
		 	Its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

 Signature Page to Investors’ Rights Agreement 

 COUNTERPART SIGNATURE PAGE 
 IN WITNESS WHEREOF, the Additional Parties hereto have executed this Amendment as of the day and year first above written. 
  

			
	KENNETH FEDESNA
	
	  

	
	MARK LOFFREDO
	
	  

	
	EDWARD PELLEGRINI
	
	  

	
	EDWARD SUCHOCKI
	
	  

	
	WILLIAM J. FEDERIGHI
	
	  

	
	THOMAS M. LOTUS
	
	  

	
	DANTE FEDERIGHI
	
	  

 Signature Page to Investors’ Rights Agreement 

 EXHIBIT A 
 Kenneth Fedesna 
 Mark Loffredo 
 Edward Pellegrini 
 Edward Suchocki 
 William J.
Federighi 
 Thomas M. Lotus 
 Dante Federighi 
  

 7 

 EXHIBIT E-1 
 SELLER EMPLOYMENT AGREEMENT 
 September [    ], 2007

 Personal and confidential 
 [            ] 
 Re: Employment Agreement 
 Dear [            ], 
 As you are aware, TouchTunes Music Corporation (“TouchTunes”) has entered into an agreement to purchase White Rabbit Game Studio, LLC (“White Rabbit”). As a condition of TouchTunes’ willingness to enter into this
transaction, TouchTunes requests that you enter into this employment agreement (“Agreement”), which will become effective only on the Closing Date (as determined in Section 2, below). We are pleased to offer you a position with
TouchTunes. It is with great pleasure that we welcome you and White Rabbit to our corporate team. 
 The terms and conditions of this Agreement are set forth
below. 
 1. Purpose. TouchTunes enters into this Agreement with you because TouchTunes values your innovation and leadership in games
development. Your one-year employment with TouchTunes pursuant to this Agreement following TouchTunes’ purchase of White Rabbit is central to the integration of White Rabbit into TouchTunes and the growth and success of the games development
division of TouchTunes. 
 2. Term of Employment. The term of employment under this Agreement (the “Term of Employment”)
shall commence on the “Closing Date,” as such term is defined in the Purchase Agreement, dated September 21, 2007 among TouchTunes, White Rabbit Studio LLC and the sellers named therein (the “Purchase Agreement”), and shall
terminate on the one-year anniversary of the Closing Date or, if earlier, when your employment with TouchTunes terminates, unless extended by mutual written agreement of you and TouchTunes. This Agreement shall terminate when the Term of Employment
terminates, unless otherwise agreed to by you and TouchTunes in writing and except to the extent provided in Sections 4 (“Base Salary and Bonus”), with respect to the payment of the bonus within 1 month after the end of the Term of
Employment, 8 (“Termination of Employment”), 10 (“Non-Compete”), 11 (“Non-Solicitation”), or as provided in the agreement referenced in Section 9 (“Proprietary Information Agreement”) or in any related
provision of this Agreement. If the Purchase Agreement is terminated pursuant to Article 7 thereof, this Agreement shall not become effective and shall be rendered null and void. 
 3. Title and Responsibilities. During the Term of Employment, TouchTunes agrees to employ you in the position of
[                    ], reporting to
[                    ]. You shall perform such duties, consistent with your position, as specified on Exhibit B hereto. 

 4. Base Salary and Bonus. During the Term of Employment, your base salary shall be
$[            ] per year. Your base salary will be payable in periodic installments in accordance with TouchTunes’ usual practice for its executives. In addition to your base salary,
you will be entitled to a bonus of not less than $[            ], to be paid within 1 month after the end of the Term of Employment, provided that (a) you remain employed by TouchTunes
until the one-year anniversary of the Closing Date (except as provided in Section 8 (“Termination of Employment”)), and (b) you satisfy performance objectives established by the President and Chief Executive Officer of
TouchTunes. Furthermore, in the event your employment is extended beyond the one year anniversary of the Closing, you shall be entitled to a minimum $[            ] annual bonus for each
additional year you are employed provided you satisfy performance objectives established by the President and Chief Executive Officer of TouchTunes. 
 5. Fringe Benefits. During the Term of Employment, you shall be entitled to participate in all benefit programs that TouchTunes establishes and generally makes available to substantially all of its U.S.
employees. You shall be entitled to four weeks paid vacation per year. Such vacation shall be in addition to any holidays during which TouchTunes U.S. offices are closed. 
 6. Reimbursement of Business Expenses. TouchTunes shall reimburse you for all reasonable travel, entertainment and other expenses that you incur or pay in connection with, or related to, the performance of your
duties, responsibilities or services under this Agreement, in accordance with policies and procedures, and subject to limitations, adopted by TouchTunes from time to time. 
 7. Extent of Service. During the Term of Employment, you shall devote your entire business skill, time, and effort diligently to the affairs of
TouchTunes in accordance with the duties assigned to you. Notwithstanding the foregoing, you may, during the Term of Employment, pursue other business activities provided that such activities (a) are approved by the Chief Executive Officer of
TouchTunes, (b) do not interfere with your performance of your duties and responsibilities under this Agreement, and (c) do not violate the provisions of any other agreement that you have with TouchTunes. 
 8. Termination of Employment. 
  

	 	(a)	Involuntary Termination by TouchTunes Without Cause. TouchTunes may terminate your employment under this Agreement at any time and for any reason without Cause (as defined
below). In the event of a termination by TouchTunes without Cause, you shall receive a lump sum payment within 90 days after your termination from employment equal to (i) the base salary you would have earned from the date of your termination
until the one-year anniversary of the Closing Date plus (ii) a $[            ] bonus. TouchTunes shall have no further obligation to you under this Agreement. For the avoidance of
doubt, your termination of employment at the conclusion of your Term of Employment or a termination for disability (meaning incapacity lasting at least 12 months) or death does not constitute an involuntary termination by TouchTunes without cause.

  

  
 PAGE 2 

	 	(b)	Termination for Good Reason. If you terminate your employment for Good Reason (as defined below), your termination shall be deemed to be an involuntary termination by
TouchTunes without Cause. 

  

	 	(c)	Any Other Termination. If your employment terminates for any reason other than the reasons described in Section 8(a), 8(b) and 8(c), TouchTunes shall pay to you your
fully accrued base salary and accrued vacation time through the date of your termination from employment in accordance with TouchTunes regular payroll practices. 

  

	 	(d)	Benefits After Termination from Employment. Following your termination from employment with TouchTunes, you shall be entitled to health coverage to the extent required under
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and TouchTunes shall have no other obligation to you under this Agreement except as specified in subsections (a) or (b), above.

  

	 	(e)	Cause. For purposes of this Agreement, “Cause” means (i) your gross negligence, (ii) your willful failure to perform your duties of employment with
TouchTunes and continuation of such failure for thirty (30) days after notice to you thereof by TouchTunes, (iii) your illegal use or abuse of drugs which is injurious to the reputation or business of TouchTunes, or which impairs, or could
reasonably be expected to impair, the performance of your duties with TouchTunes, (iv) your conviction of, or plea of guilty or nolo contendere to, a felony, or (v) your fraud or embezzlement against TouchTunes. 

 

	 	(f)	Good Reason. For purposes of this Agreement, “Good Reason” means (i) a material diminution in your authority, duties, or responsibilities without your consent,
or (ii) a material change in the geographic location of your principal place of employment with TouchTunes without your consent (for such purpose, it is agreed that a change of principal place of employment by less than 50 miles shall not
constitute a material change in geographic location). However, you will not have a termination for Good Reason unless (A) you give the Chief Executive Officer of TouchTunes written notice within 90 days of the initial existence of the condition
on which Good Reason is based, (B) TouchTunes does not cure the condition within 30 days of receiving such notice, and (C) you terminate within one year following the initial existence of the condition. 

 9. Proprietary Information Agreement. You shall execute, simultaneously with the execution of this Agreement, the proprietary information,
nondisclosure and assignment of inventions agreement, attached hereto as Exhibit A. 
 10. Non-Compete. TouchTunes acknowledges
that you have over 25 years’ experience in the video game and jukebox industries and already have extensive knowledge of those industries, including close familiarity with TouchTunes’ distributors, suppliers, subcontractors, customers,
products and markets. You acknowledge that TouchTunes does business and sells its products throughout the United States and Canada. You further acknowledge that through your employment with TouchTunes, you 

  

  
 PAGE 3 

 
will acquire skills and knowledge, and will continue to enhance your skills and become exposed to knowledge of TouchTunes’ confidential, trade secret,
and proprietary information concerning its products, processes and business plans, the knowledge of and access to which would provide substantial commercial advantage to TouchTunes’ competitors. Consequently, the parties further agree that, as
additional consideration for your employment and for other good and valuable consideration, the receipt and sufficiency of which you acknowledge, you will not, at any time during your employment under this Agreement and for one (1) year
following termination of employment for any reason accept employment or enter into a relationship of any kind, without the consent of TouchTunes, with any business that is a “Restricted Business” or with any entity or person that controls
a Restricted Business. The term “Restricted Business” means any business that develops, manufactures, or sells interactive video multi-game amusement-only entertainment devices (other than devices marketed for personal use at home and in
other non-public places) located on countertops and operated with a touch screen that operate wired or wirelessly, and directly or indirectly, accept payment via coins, paper money tokens, credit cards or other payment systems and may or may not be
connected to a jukebox. “Restricted Business” shall also include any business that develops, manufactures, or sells digital jukeboxes other than digital jukeboxes that utilize compact discs as the music source, or any planned business of
TouchTunes or any of its affiliates or subsidiaries of which you are aware. You and TouchTunes agree that this restriction against competition anywhere within the United States is reasonable in light of the scope of TouchTunes’ business
interests and the nature of your skills and knowledge of TouchTunes’ trade secrets and confidential and proprietary business information. TouchTunes agrees, based on your representation described in the next sentence, that your continued
participation in the business of the entities specified in Exhibit C shall not violate this Section 10. You represent that (a) you own, in whole or in part, the entities specified in Exhibit C on the date of this Agreement
and (b) each such entity is not, and is not a part of, a Restricted Business. 
 11. Non-Solicitation of Employees and Customers.
For one (1) year following termination of your employment for any reason, you shall not, without the consent of TouchTunes: 
  

	 	(a)	recruit, solicit, or hire any employee, consultant, or service provider of TouchTunes for employment or for retention as a consultant or service provider that would induce the
employee, consultant, or service provider to terminate his, her, or its relationship with TouchTunes; or 

  

	 	(b)	solicit or induce any client, customer, or prospect of TouchTunes to cease being, or not to become, a customer of TouchTunes. 

 12. Enforcement. In the event of any breach by you of any covenant in Sections 10 (“Non-Compete”) and 11
(“Non-Solicitation”), or of any covenant in the agreement referenced in Section 9 (“Proprietary Information Agreement”), the resulting injuries to TouchTunes would be difficult or impossible to estimate accurately, even
though irreparable injury or damages would certainly result. Accordingly, an award of legal damages, if without other relief, would be inadequate to protect TouchTunes. You therefore agree that, in the event of any such breach, TouchTunes shall be
entitled to apply to a court of competent jurisdiction to obtain an injunction to restrain the breach or an anticipated breach of any such covenant, and to obtain any other available legal, equitable, statutory, or contractual relief. Should
TouchTunes have cause to seek such relief, no bond shall be required. 
  

  
 PAGE 4 

 13. At-Will Employment. TouchTunes hereby agrees to employ you, and you hereby accept employment
with TouchTunes, upon the terms set forth in this Agreement, on an “at-will” basis. This Agreement shall not be construed as an agreement, either expressed or implied, to employ you for any stated term. Subject to the rights provided in
this Agreement, including but not limited to the provisions of Paragraph 8, (a) TouchTunes shall be free to terminate the employment relationship, with or without Cause, at any time immediately upon notice, and (b) you shall be free to
terminate the employment relationship immediately upon ten (10) days’ prior written notice. Notwithstanding the foregoing, TouchTunes shall not terminate your employment without Cause before the earlier of (i) the end of the six-month
period immediately following the Closing Date (unless obtainment of the Performance Milestone takes longer than six (6) months as a result of delays beyond your control, then such six-month period shall be extended for the period of any such
delays but in no event shall the six-month period be extended beyond the 12-month anniversary of the Closing Date), or (ii) the attainment of the first “Performance Milestone” (as that term is defined in the Purchase Agreement) (such
period referred to as the “Milestone Development Period”). 
 14. Withholding. All salary, bonus and other compensation
payable to you shall be subject to applicable withholding taxes. 
 15. Indemnification. You will be entitled to
indemnification, to the extent provided to other officers of TouchTunes, under applicable state law, TouchTunes’ charter documents, any directors’ and officers’ liability insurance policies of TouchTunes or under any indemnification
agreement; provided, that nothing in this Section 15 shall obligate TouchTunes to provide any indemnification to its officers generally other than as provided under Delaware law. 
 16. Governing Law. To the extent not preempted by United States federal law, the provisions of this Agreement shall be construed and
enforced in accordance with the laws of the State of Illinois, without regard to any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this provision to the substantive law of another
jurisdiction. The parties further agree that any dispute arising under, or relating to, this Agreement shall be resolved in the state or federal courts located within Cook County, Illinois. Each party expressly and irrevocably consents to exclusive
jurisdiction and venue therein. 
 17. Successors. This Agreement shall inure to the benefit of, and be binding upon, TouchTunes and
its subsidiaries and affiliates, together with their successors and assigns, and you, together with your executors, administrators, personal representatives, heirs, beneficiaries, and legatees. You acknowledge that this Agreement is for personal
services and that you therefore may not assign this Agreement. 
 18. Other Agreements. This Agreement supersedes any
employment agreement or other promise or obligation regarding your employment or services entered into or made by White Rabbit or TouchTunes prior to the Closing Date. 
  

  
 PAGE 5 

 19. Severability. If any term, provision, or portion of this Agreement is determined to be void,
illegal, or unenforceable, the other terms, provisions, and portions of this Agreement shall remain in full force and effect. You agree that if any court of competent jurisdiction shall finally hold that any provision of this Agreement (whether in
whole or in part) is void or constitutes an unreasonable restriction against you, such provision shall not be rendered void but shall be deemed to be modified to the minimum extent necessary to make such provision enforceable for the longest
duration and the greatest scope as such court may determine constitutes a reasonable restriction under the circumstances. 
 20.
Amendment and Waiver. This Agreement may be modified only by a written instrument signed by each of the parties. No waiver shall be effective unless made in writing and signed by the party against whom enforcement is sought. 

Please sign the following document in acceptance of this employment agreement and of the conditions stipulated above. 
 Please be assured that we are very proud to have you join the TouchTunes Music Corporation team and look forward to working with you. 
  

	
	Sincerely yours,
	
	Art Matin
	President & CEO

  

					
	I agree to the terms described above.	 		  	
			
	  
	 		  	  

	[                    ]	 		  	Date

  

			
	Attachment:	  	Exhibit A – Proprietary Information, Nondisclosure and Assignment of Inventions Agreement
		
		  	Exhibit B – Duties and Responsibilities
		
		  	Exhibit C – Other Business Activities

  

  
 PAGE 6 

 EXHIBIT E-2 
 PELLEGRINI EMPLOYMENT AGREEMENT 
 September [    ], 2007

 Personal and confidential 
 [            ] 
 Re: Employment Agreement 
 Dear Frank J. Pellegrini, 
 As you are aware, TouchTunes Music Corporation
(“TouchTunes”) has entered into an agreement to purchase White Rabbit Game Studio, LLC (“White Rabbit”). As a condition of TouchTunes’ willingness to enter into this transaction, TouchTunes requests that you enter into this
employment agreement (“Agreement”), which will become effective only on the Closing Date (as determined in Section 2, below). We are pleased to offer you a position with TouchTunes. It is with great pleasure that we welcome you and
White Rabbit to our corporate team. 
 The terms and conditions of this Agreement are set forth below. 
 1. Purpose. TouchTunes enters into this Agreement with you because TouchTunes values your innovation and leadership in games development. Your
one-year employment with TouchTunes pursuant to this Agreement following TouchTunes’ purchase of White Rabbit is central to the integration of White Rabbit into TouchTunes and the growth and success of the games development division of
TouchTunes. 
 2. Term of Employment. The term of employment under this Agreement (the “Term of Employment”) shall commence
on the “Closing Date,” as such term is defined in the Purchase Agreement, dated September 21, 2007 among TouchTunes, White Rabbit Studio LLC and the sellers named therein (the “Purchase Agreement”), and shall terminate on
the one-year anniversary of the Closing Date or, if earlier, when your employment with TouchTunes terminates, unless extended by mutual written agreement of you and TouchTunes. This Agreement shall terminate when the Term of Employment terminates,
unless otherwise agreed to by you and TouchTunes in writing and except to the extent provided in Sections 4 (“Base Salary and Bonus”), with respect to the payment of the bonus within 1 month after the end of the Term of Employment, 8
(“Termination of Employment”), 10 (“Non-Compete”), 11 (“Non-Solicitation”), or as provided in the agreement referenced in Section 9 (“Proprietary Information Agreement”) or in any related provision of
this Agreement. If the Purchase Agreement is terminated pursuant to Article 7 thereof, this Agreement shall not become effective and shall be rendered null and void. 
 3. Title and Responsibilities. During the Term of Employment, TouchTunes agrees to employ you in the position of
[                                        ],
reporting to
[                                        ]. You
shall perform such duties, consistent with your position, as specified on Exhibit B hereto. 

 4. Base Salary and Bonus. During the Term of Employment, your base salary shall be
$[            ] per year. Your base salary will be payable in periodic installments in accordance with TouchTunes’ usual practice for its executives. In addition to your base salary,
you will be entitled to a bonus of not less than $[            ], to be paid within 1 month after the end of the Term of Employment, provided that (a) you remain employed by TouchTunes
until the one-year anniversary of the Closing Date (except as provided in Section 8 (“Termination of Employment”)), and (b) you satisfy performance objectives established by the President and Chief Executive Officer of
TouchTunes. Furthermore, in the event your employment is extended beyond the one year anniversary of the Closing, you shall be entitled to a minimum $[            ] annual bonus for each
additional year you are employed provided you satisfy performance objectives established by the President and Chief Executive Officer of TouchTunes. 
 5. Fringe Benefits. During the Term of Employment, you shall be entitled to participate in all benefit programs that TouchTunes establishes and generally makes available to substantially all of its U.S.
employees. You shall be entitled to four weeks paid vacation per year. Such vacation shall be in addition to any holidays during which TouchTunes U.S. offices are closed. 
 6. Reimbursement of Business Expenses. TouchTunes shall reimburse you for all reasonable travel, entertainment and other expenses that you incur or pay in connection with, or related to, the performance of your
duties, responsibilities or services under this Agreement, in accordance with policies and procedures, and subject to limitations, adopted by TouchTunes from time to time. 
 7. Extent of Service. During the Term of Employment, you shall devote your entire business skill, time, and effort diligently to the affairs of
TouchTunes in accordance with the duties assigned to you. Notwithstanding the foregoing, you may, during the Term of Employment, pursue other business activities provided that such activities (a) are approved by the Chief Executive Officer of
TouchTunes, (b) do not interfere with your performance of your duties and responsibilities under this Agreement, and (c) do not violate the provisions of any other agreement that you have with TouchTunes. 
 8. Termination of Employment. 
  

	 	(a)	Involuntary Termination by TouchTunes Without Cause. TouchTunes may terminate your employment under this Agreement at any time and for any reason without Cause (as defined
below). In the event of a termination by TouchTunes without Cause, you shall receive a lump sum payment within 90 days after your termination from employment equal to (i) the base salary you would have earned from the date of your termination
until the one-year anniversary of the Closing Date plus (ii) a $[            ] bonus. TouchTunes shall have no further obligation to you under this Agreement. For the avoidance of
doubt, your termination of employment at the conclusion of your Term of Employment or a termination for disability (meaning incapacity lasting at least 12 months) or death does not constitute an involuntary termination by TouchTunes without cause.

  

  
 PAGE 2 

	 	(b)	Termination for Good Reason. If you terminate your employment for Good Reason (as defined below), your termination shall be deemed to be an involuntary termination by
TouchTunes without Cause. 

  

	 	(c)	Any Other Termination. If your employment terminates for any reason other than the reasons described in Section 8(a), 8(b) and 8(c), TouchTunes shall pay to you your
fully accrued base salary and accrued vacation time through the date of your termination from employment in accordance with TouchTunes regular payroll practices. 

  

	 	(d)	Benefits After Termination from Employment. Following your termination from employment with TouchTunes, you shall be entitled to health coverage to the extent required under
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), and TouchTunes shall have no other obligation to you under this Agreement except as specified in subsections (a) or (b), above.

  

	 	(e)	Cause. For purposes of this Agreement, “Cause” means (i) your gross negligence, (ii) your willful failure to perform your duties of employment with
TouchTunes and continuation of such failure for thirty (30) days after notice to you thereof by TouchTunes, (iii) your illegal use or abuse of drugs which is injurious to the reputation or business of TouchTunes, or which impairs, or could
reasonably be expected to impair, the performance of your duties with TouchTunes, (iv) your conviction of, or plea of guilty or nolo contendere to, a felony, or (v) your fraud or embezzlement against TouchTunes. 

 

	 	(f)	Good Reason. For purposes of this Agreement, “Good Reason” means (i) a material diminution in your authority, duties, or responsibilities without your consent,
or (ii) a material change in the geographic location of your principal place of employment with TouchTunes without your consent (for such purpose, it is agreed that a change of principal place of employment by less than 50 miles shall not
constitute a material change in geographic location). However, you will not have a termination for Good Reason unless (A) you give the Chief Executive Officer of TouchTunes written notice within 90 days of the initial existence of the condition
on which Good Reason is based, (B) TouchTunes does not cure the condition within 30 days of receiving such notice, and (C) you terminate within one year following the initial existence of the condition. 

 9. Proprietary Information Agreement. You shall execute, simultaneously with the execution of this Agreement, the proprietary information,
nondisclosure and assignment of inventions agreement, attached hereto as Exhibit A. 
 10. Non-Compete. TouchTunes acknowledges
that you have over 25 years’ experience in the video game and jukebox industries and already have extensive knowledge of those industries, including close familiarity with TouchTunes’ distributors, suppliers, subcontractors, customers,
products and markets. You acknowledge that TouchTunes does business and sells its products throughout the United States and Canada. You further acknowledge that through your employment with TouchTunes, you 

  

  
 PAGE 3 

 
will acquire skills and knowledge, and will continue to enhance your skills and become exposed to knowledge of TouchTunes’ confidential, trade secret,
and proprietary information concerning its products, processes and business plans, the knowledge of and access to which would provide substantial commercial advantage to TouchTunes’ competitors. Consequently, the parties further agree that, as
additional consideration for your employment and for other good and valuable consideration, the receipt and sufficiency of which you acknowledge, you will not, at any time during your employment under this Agreement and for one (1) year
following termination of employment for any reason accept employment or enter into a relationship of any kind, without the consent of TouchTunes, with any business that is a “Restricted Business” or with any entity or person that controls
a Restricted Business. The term “Restricted Business” means any business that develops, manufactures, or sells interactive video multi-game amusement-only entertainment devices (other than devices marketed for personal use at home and in
other non-public places) located on countertops and operated with a touch screen that operate wired or wirelessly, and directly or indirectly, accept payment via coins, paper money tokens, credit cards or other payment systems and may or may not be
connected to a jukebox. “Restricted Business” shall also include any business that develops, manufactures, or sells digital jukeboxes other than digital jukeboxes that utilize compact discs as the music source, or any planned business of
TouchTunes or any of its affiliates or subsidiaries of which you are aware. You and TouchTunes agree that this restriction against competition anywhere within the United States is reasonable in light of the scope of TouchTunes’ business
interests and the nature of your skills and knowledge of TouchTunes’ trade secrets and confidential and proprietary business information. TouchTunes agrees, based on your representation described in the next sentence, that your continued
participation in the business of the entities specified in Exhibit C shall not violate this Section 10. You represent that (a) you own, in whole or in part, the entities specified in Exhibit C on the date of this Agreement
and (b) each such entity is not, and is not a part of, a Restricted Business. 
 11. Non-Solicitation of Employees and Customers.
For one (1) year following termination of your employment for any reason, you shall not, without the consent of TouchTunes: 
  

	 	(a)	recruit, solicit, or hire any employee, consultant, or service provider of TouchTunes for employment or for retention as a consultant or service provider that would induce the
employee, consultant, or service provider to terminate his, her, or its relationship with TouchTunes; or 

  

	 	(b)	solicit or induce any client, customer, or prospect of TouchTunes to cease being, or not to become, a customer of TouchTunes. 

 12. Enforcement. In the event of any breach by you of any covenant in Sections 10 (“Non-Compete”) and 11
(“Non-Solicitation”), or of any covenant in the agreement referenced in Section 9 (“Proprietary Information Agreement”), the resulting injuries to TouchTunes would be difficult or impossible to estimate accurately, even
though irreparable injury or damages would certainly result. Accordingly, an award of legal damages, if without other relief, would be inadequate to protect TouchTunes. You therefore agree that, in the event of any such breach, TouchTunes shall be
entitled to apply to a court of competent jurisdiction to obtain an injunction to restrain the breach or an anticipated breach of any such covenant, and to obtain any other available legal, equitable, statutory, or contractual relief. Should
TouchTunes have cause to seek such relief, no bond shall be required. 
  

  
 PAGE 4 

 13. At-Will Employment. TouchTunes hereby agrees to employ you, and you hereby accept employment
with TouchTunes, upon the terms set forth in this Agreement, on an “at-will” basis. This Agreement shall not be construed as an agreement, either expressed or implied, to employ you for any stated term. Subject to the rights provided in
this Agreement, including but not limited to the provisions of Paragraph 8, (a) TouchTunes shall be free to terminate the employment relationship, with or without Cause, at any time immediately upon notice, and (b) you shall be free to
terminate the employment relationship immediately upon ten (10) days’ prior written notice. Notwithstanding the foregoing, TouchTunes shall not terminate your employment without Cause before the earlier of (i) the end of the six-month
period immediately following the Closing Date (unless obtainment of the Performance Milestone takes longer than six (6) months as a result of delays beyond your control, then such six-month period shall be extended for the period of any such
delays but in no event shall the six-month period be extended beyond the 12-month anniversary of the Closing Date), or (ii) the attainment of the first “Performance Milestone” (as that term is defined in the Purchase Agreement) (such
period referred to as the “Milestone Development Period”). 
 14. Withholding. All salary, bonus and other compensation
payable to you shall be subject to applicable withholding taxes. 
 15. Indemnification. You will be entitled to
indemnification, to the extent provided to other officers of TouchTunes, under applicable state law, TouchTunes’ charter documents, any directors’ and officers’ liability insurance policies of TouchTunes or under any indemnification
agreement; provided, that nothing in this Section 15 shall obligate TouchTunes to provide any indemnification to its officers generally other than as provided under Delaware law. 
 16. Governing Law. To the extent not preempted by United States federal law, the provisions of this Agreement shall be construed and
enforced in accordance with the laws of the State of Illinois, without regard to any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this provision to the substantive law of another
jurisdiction. The parties further agree that any dispute arising under, or relating to, this Agreement shall be resolved in the state or federal courts located within Cook County, Illinois. Each party expressly and irrevocably consents to exclusive
jurisdiction and venue therein. 
 17. Successors. This Agreement shall inure to the benefit of, and be binding upon, TouchTunes and
its subsidiaries and affiliates, together with their successors and assigns, and you, together with your executors, administrators, personal representatives, heirs, beneficiaries, and legatees. You acknowledge that this Agreement is for personal
services and that you therefore may not assign this Agreement. 
 18. Other Agreements. This Agreement supersedes any
employment agreement or other promise or obligation regarding your employment or services entered into or made by White Rabbit or TouchTunes prior to the Closing Date. 
  

  
 PAGE 5 

 19. Severability. If any term, provision, or portion of this Agreement is determined to be void,
illegal, or unenforceable, the other terms, provisions, and portions of this Agreement shall remain in full force and effect. You agree that if any court of competent jurisdiction shall finally hold that any provision of this Agreement (whether in
whole or in part) is void or constitutes an unreasonable restriction against you, such provision shall not be rendered void but shall be deemed to be modified to the minimum extent necessary to make such provision enforceable for the longest
duration and the greatest scope as such court may determine constitutes a reasonable restriction under the circumstances. 
 20.
Amendment and Waiver. This Agreement may be modified only by a written instrument signed by each of the parties. No waiver shall be effective unless made in writing and signed by the party against whom enforcement is sought. 

Please sign the following document in acceptance of this employment agreement and of the conditions stipulated above. 
 Please be assured that we are very proud to have you join the TouchTunes Music Corporation team and look forward to working with you. 
  

	
	Sincerely yours,
	
	Art Matin
	President & CEO

  

			
	I agree to the terms described above.
		
	  
	    	  

	Frank J. Pellegrini	    	Date

  

			
	Attachment:	  	Exhibit A – Proprietary Information, Nondisclosure and Assignment of Inventions Agreement
		
		  	Exhibit B – Duties and Responsibilities
		
		  	Exhibit C – Other Business Activities

  

  
 PAGE 6 

 EXHIBIT F 
 White Rabbit Performance Milestones 
  

	1)	White Rabbit Deliverables to include: 

  

	 	a)	Development and deployment of 1 portable Unit, WHITE RABBIT docking stand, and tower collection device. 

  

	 	b)	19 Midway licensed game titles and 14 WHITE RABBIT original game titles as listed in on Schedule 1 (attached). 

  

	 	c)	WHITE RABBIT security detection system that shall not allow for a portable Unit to be stolen without detection. 

  

	 	d)	FCC and UL Certifications 

  

	 	e)	Units shall have the ability to operate on battery for a minimum of six consecutive hours prior to being recharged. 

  

	2)	Beta testing to include 4 continuous weeks of operation of Units1 and other
system components identified in Section 1(a) in 30 BETA test site locations with no major hardware or software failures, except as provided for in section 5 below. 

  

	 	a)	the 30 Beta test site locations to include a minimum of 50 portable Units and 50 docking stands. 

  

	 	b)	at least one Beta test site must have 8 portable Units communicating with one tower collection device and at least one site must have 4 portable Units connected and communicating
with one tower collection device. 

  

	 	c)	WHITE RABBIT Units to be built and tested by WHITE RABBIT management prior to sending out to test sites, including documentation of test cases and expected results.

  

	 	d)	BETA sites to be mutually selected by WHITE RABBIT and TouchTunes management and sales personnel. 

  

	 	e)	WHITE RABBIT shall build at least 75 portable Units, 75 docking stands and 40 tower collection devices. 

  

	 	f)	From the items specified in 2(e) above, 25 portable Units, 25 docking stands and 10 tower collection devices shall be provided to TouchTunes for testing/training and support
purposes. 

  

	 	g)	WHITE RABBIT and TOUCHTUNES shall use commercially reasonable efforts to have the 30 Beta sites by December 31, 2007. 

  

	1	Definition of Unit shall be defined in the Purchase Agreement. 

	3)	WHITE RABBIT / TOUCHTUNES Connectivity2 

  

	 	a)	Communication link to GEN 3 with ability to select music through WHITE RABBIT portable Units from TOUCHTUNES jukebox 

  

	 	b)	Ability to interface and report to TOUCHTUNES billing system and server: 

 (1) Upload WHITE RABBIT play logs and audits 
 (2) Upload WHITE RABBIT adjustments/settings

 (3) Upload juke related log data 
 (4) Upload revenue information 
  

	 	c)	Ability to do software downloads and software restore: 

 (1) Download WHITE RABBIT settings 
 (2) Download WHITE RABBIT software updates 

(3) Download new game content 
 (4) Software rollback capability 
  

	 	d)	Credit card billing dependent upon TOUCHTUNES implementation plan, however White Rabbit Unit must send proper credit card logs to TouchTunes server to initiate transactions

  

	 	e)	Remote control release system via TOUCHTUNES jukebox system, however White Rabbit Unit must receive and execute commands sent by the TOUCHTUNES jukebox system to initiate release of
Unit from docking stand. 

  

	4)	Level 1 Technical support and service to be provided through TOUCHTUNES Hotline group. 

  

	5)	WHITE RABBIT Units to experience less than 10% hardware/mechanical failures over 4 week test period. 

  

	6)	At completion of BETA test, 5 operators must be willing to purchase more of the current version tested. 

  

	2	If the portion of the Performance Milestone set forth in paragraph 1) above has been satisfied and the mechanical and electrical enhancements to the Unit have been developed such
that the Unit enables connectivity to the TOUCHTUNES jukebox, but the Connect-TT software necessary to provide interoperability between the Unit and the TOUCHTUNES jukebox has not been successfully developed, then the Performance Milestone shall be
deemed to have been satisfied. 

 Schedule 1 to Exhibit F White Rabbit Performance Milestones 
 (19 Midway game Titles and 14 White Rabbit game titles) 
  

					
		  	Midway Games	  	Genre
	1	  	Gem Slide	  	Action
	2	  	Hot Hoops	  	Action
	3	  	3 Peak Deluxe	  	Card
	4	  	Double Take	  	Card
	5	  	Power Cell	  	Card
	6	  	Pyramid 13	  	Card
	7	  	Target 21	  	Card
	8	  	Triple 11's	  	Card
	9	  	Movie Trivia	  	Quiz
	10	  	Word Search	  	Quiz
	11	  	Wordz	  	Quiz
	12	  	Crystal Balls	  	Strategy
	13	  	Mah Jongg Pairs	  	Strategy
	14	  	Mahki	  	Strategy
	15	  	Pick Up 6	  	Strategy
	16	  	Pond King Checkers	  	Strategy
	17	  	Pool Pairs	  	Strategy
	18	  	Space Chase Checkers	  	Strategy
	19	  	Surfin 11's	  	Strategy
			
		  	White Rabbit Games	  	
			
	1	  	Tackle Blox	  	Action
	2	  	Texas Holdem - Limit	  	Cards
	3	  	Texas Holdem - Limit - Linked Multiplayer	  	Cards
	4	  	Texas Holdem - No Limit	  	Cards
	5	  	Texas Holdem - No Limit - Linked Multiplayer	  	Cards
	6	  	Photo Quest	  	Quiz
	7	  	Photo Quest - Multiplayer	  	Quiz
	8	  	Trivia Challenge	  	Quiz
	9	  	Trivia Challenge - Multiplayer	  	Quiz
	10	  	Word Market	  	Quiz
	11	  	Outback Gammon	  	Strategy
	12	  	Sodoku 6 x 6	  	Strategy
	13	  	Sodoku 9 x 9	  	Strategy
	14	  	Treasure Links	  	Strategy

 EXHIBIT G 
 FORM OF OFFER LETTER TO NON-SELLER EMPLOYEES 
 [Address to be added] 
 Re: Offer of employment 
 Dear
                                        ,

 As you are aware, TouchTunes Music Corporation (“TouchTunes”) has entered into an agreement to purchase White Rabbit Game Studio, LLC
(“White Rabbit”). Upon the “Closing Date” for this purchase, you will become an employee of TouchTunes under the terms described in this letter. This date is defined in the Purchase Agreement among TouchTunes, White Rabbit
Studio, LLC and the sellers named therein (the “Purchase Agreement”). It is with great pleasure that we offer you the position of
                     with TouchTunes Music Corporation and welcome you and White Rabbit to our team. 
 You will be reporting directly to the                     .

 Your employment with TouchTunes will be subject to the following terms: 
  

	•	 	 A basic yearly salary of $              USD; 

  

	•	 	 Your hire date for our Human Resources records will remain
                    ; 

  

	•	 	 You will be entitled to 2 weeks of vacation annually, in addition to the standard company U.S. holidays; 

  

	•	 	 You will be entitled to receive a bonus up to              USD after assisting in the successful launch
of 50 beta game units, details of which shall be given to you by TouchTunes management at a later date. 

  

	•	 	 In addition, you will be entitled to participate to the Bonus Program as described in Exhibit A. To receive this bonus you must be employed with TouchTunes on the
date the bonus is to be paid. 

  

	•	 	 You will be eligible to participate in TouchTunes’ employee welfare benefit plan, which currently includes medical, dental, vision, life and disability
benefits (subject to the terms of the plan); 

  

	•	 	 You will be eligible to contribute to the TouchTunes’ 401(K) Retirement Plan to which you may contribute a fixed percentage or dollar amount of your earnings
(subject to the terms of the plan). 

 For your part you agree to the following terms: 
  

	•	 	 To work full time for TouchTunes; 

  

	•	 	 To sign the TouchTunes confidentiality/intellectual property agreement; 

  

	•	 	 In accordance with the TouchTunes confidentiality/intellectual property agreement, all research and development results and products marketed by TouchTunes are the
property of TouchTunes; and 

  

	•	 	 To provide at least two weeks’ notice of your departure in the event of voluntary separation from TouchTunes. 

 Your employment with TouchTunes will be “at will,” meaning that either you or TouchTunes may terminate your employment at any time (subject to the notice
period described above). 
  
  
 3 Commerce Place, 4th Floor 
 Nun’s Island (Montreal), Quebec H3E 1H7 
 Tel: 514-762-6244 Fax: 514-762-4292 

 Nothing in this letter requires TouchTunes to offer any particular employee benefit plan, and TouchTunes may amend its
employee benefit plans to the extent permitted under the applicable plan documents and applicable law. 
 This offer is conditioned upon the completion of
TouchTunes’ purchase of White Rabbit. If the Purchase Agreement is terminated pursuant to Article 7 thereof, this offer of employment shall not become effective and shall be rendered null and void. If, on the other hand, you become an employee
of TouchTunes pursuant to the terms of this letter, any obligation White Rabbit has or will have to you shall be discharged with the exception of salaries earned and accrued vacation before the Closing Date. Notwithstanding the preceding sentence,
your employment with TouchTunes shall be terminated upon the exercise of the Repurchase Option (as defined in Section 1.13 of the Purchase Agreement) in accordance with the Purchase Agreement, and all obligations that TouchTunes has or will
have to you shall be discharged upon such exercise. 
 This offer and the terms of your employment with TouchTunes shall be governed by Illinois law,
determined without regard to any conflicts of law principle, to the extent not preempted by U.S. federal law. 
 Please sign below in acceptance of this
offer of employment and of the conditions stipulated above. 
 Please be assured that we are very proud to have you join the TouchTunes Music Corporation
team and look forward to working with you. 
  

	
	Sincerely yours,
	
	Art Matin
	President & CEO

  

			
	 I agree to the terms described above.
	    	
		
	  
	    	  

		    	Date

  

  
 3 Commerce Place, 4th Floor 
 Nun’s Island (Montreal), Quebec H3E 1H7 
 Tel: 514-762-6244 Fax: 514-762-6483 
  

 /2 

 Exhibit A 
 Bonus Program 
 1. Amount of Bonus. The annual bonus payable pursuant to the employment agreement to
which this document is an exhibit shall be based on individual employee performance and allocated from a pooled amount defined by TouchTunes’ management for each “sale” of a “unit” during the year, as these terms are defined
below: 
 (a) A “sale” occurs when a customer of TouchTunes makes a final payment to TouchTunes for a “unit.” A
“sale” does not occur when a “unit” is furnished to a customer free-of-charge, unless (i) the “unit” replaces one that the customer previously purchased and returned, and (ii) the amount of the annual bonus
was reduced on account of the return pursuant to Section 2, below. 
 (b) A “unit” refers to a single display, multi-game,
video interactive entertainment device that operates wired or wirelessly. A video game system may contain one or more “units”, in which case the bonus payable will be based on each “unit” sold. 
 2. Returns. The annual bonus shall be reduced for each “unit” returned by a customer during the year (or for which TouchTunes must
otherwise provide a refund to the customer), unless a replacement “unit” is furnished to the customer in the same year. 
  

  
 3 Commerce Place, 4th Floor 
 Nun’s Island (Montreal), Quebec H3E 1H7 
 Tel: 514-762-6244 Fax: 514-762-4292 

 EXHIBIT H 
 [FORM OF OPINION OF THE LAW OFFICES OF BRADFORD E. BLOCK ] 
 September
    , 2007 
 TouchTunes Music Corporation 
 3 Commerce Place 
 4th floor 
 Montreal, Quebec 
 H3E
1H7 
 Canada 
  

	 	Re:	Purchase Agreement (the “Purchase Agreement”) dated September     , 2007 by and among White Rabbit Game Studio, LLC, an Illinois limited liability
company (the “Company”) the Sellers, the Seller Representative and TouchTunes Music Corporation (the “Purchaser”) 

 Ladies
and Gentlemen: 
 I have acted as counsel to the Company and the Sellers in connection with matters contemplated in that certain Purchase
Agreement by and between the Company, Sellers, Sellers Representative and Purchaser, as referenced and identified above. Based upon my representation, I have been asked to render this opinion. Capitalized terms used in this opinion and not otherwise
defined in this opinion shall have the same meanings ascribed to such terms in the Purchase Agreement. 
 I have examined and relied upon the
accuracy of original, certified, conformed, or photographed copies of the Purchase Agreement and such records, other agreements, certificates and other documents as we have deemed necessary or appropriate to enable us to render the opinions set
forth herein. In all such examinations I have assumed the genuineness of signatures on original documents and the conformity to such original documents of all copies submitted to us as certified, conformed or photographic copies and, as to
certificates of public officials, I have assumed the same to have been properly given and to be accurate. I also have relied, as to various matters of fact relating to the opinions as set forth herein, on certificates of public officials and members
of the Company. 
 1. The Company is a limited liability company duly organized, validly existing and in good standing under the laws of the
State of Illinois and has the power and authority to execute and deliver the Purchase Agreement and to consummate the transactions contemplated thereby. 
 2. The Company has duly authorized, executed and delivered the Purchase Agreement, and each of the Sellers has duly executed and delivered the Purchase Agreement, the 

 
Equity Interest and Note Assignment Agreement and the Amendment to Investors’ Right Agreement (the “Transaction Documents”). The Purchase
Agreement constitutes the valid and binding obligation of the Company, and the Transaction Documents constitute the valid obligation of each Seller, enforceable against the Company and each Seller, respectively, in accordance with their terms,
subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium laws and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 
 3. Except for the Equity Interests, there are no membership interests or other equity interests in the Company issued or outstanding, nor are any such
interests authorized or reserved for issuance. The Equity Interests are duly authorized and validly issued and are free of any preemptive rights, or, to our knowledge, similar rights that entitle or will entitle any Person to acquire from the
Company any equity interests of the Company. 
 4. Upon execution and delivery of the Purchase Agreement and the Equity Interest and Note
Assignment Agreement, the Purchaser will become the sole member of the Company and the owner of all of the Equity Interests free and clear of any Liens (except for any restrictions on sales of securities under applicable securities laws).

 5. No consent of, approval or other filing with, any governmental agency or instrumentality of the State of Illinois, or the United States
of America or under the Illinois Limited Liability Company Act is required to be obtained or made by or with respect to the Company or the Sellers in connection with the execution and delivery by the Company of the Purchase Agreement and the
execution and delivery by each Seller of the Transaction Documents, and the consummation by the Company and the Sellers of the transactions contemplated thereby in accordance with the terms thereof. 
 6. The execution and delivery of the Transaction Documents by the Sellers and the Purchase Agreement by the Company, and the consummation by the Sellers
and the Company of the transactions contemplated thereby in accordance with the terms thereof do not violate (i) any Illinois or Federal statute, law, rule or regulation known to us to which the Company is subject, (ii) the Constitutive
Documents of the Company, (iii) any Contract listed on Section 3.10(a) of the Sellers’ Disclosure Letter or (iv) any Order or any Law applicable to any Seller or the Company or their respective properties or assets, other than,
in the case of clauses (ii) and (iii) above, any such items that, individually or in the aggregate, would not be material with respect to the Company. 

 This opinion has been furnished to you pursuant to Section 6.2(c) of the Purchase Agreement, and no
other person or entity shall be entitled to rely upon this opinion without our prior written consent. 
  

			
	Sincerely,
	
	The Law Offices of Bradford E. Block
		
	By:	 	  

		 	Bradford E. Block,

 EXHIBIT I 
 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 WHITE RABBIT GAME STUDIO, LLC 
 This Amended
and Restated Limited Liability Company Agreement (together with the schedules attached hereto, and as amended from time to time, this “Agreement”) of WHITE RABBIT GAME STUDIO, LLC (the “Company”), is entered into on
September [    ], 2007, by KENNETH FEDESNA, MARK LOFFREDO, EDWARD PELLEGRINI, EDWARD SUCHOCKI,
WILLIAM J. FEDERIGHI, THOMAS M. LOTUS and DANTE FEDERIGHI (the “Members”), constituting all of the members of the Company, and shall become
effective upon the Closing of the Acquisition as defined in the Purchase Agreement, dated September 24, 2007, between the Company, the Members, the Sellers’ Representative named therein and TouchTunes Music Corporation (the
“Effective Date”). The Members unanimously agree to amend and restate the Limited Liability Company Operating Agreement of the Company, dated August 10, 2005 (the “Prior Agreement”), pursuant to
Section 9.10 of the Prior Agreement and Article 15, Section 15-5 of the Limited Liability Company Act of the State of Illinois (the “Act”), effective as of the Effective Date. Accordingly, upon and after the Effective
Date, the rights and obligations of the Company and its Members shall be as set forth in this Agreement. This Agreement is intended to be an “operating agreement” as defined in the Act. Capitalized terms used herein and not otherwise
defined have the meanings set forth on Schedule A hereto. 
 The undersigned hereby agree as follows: 
 SECTION 1. Formation and Name. The name of the limited liability company is WHITE RABBIT GAME STUDIO, LLC. The Company was formed as a limited
liability company pursuant to the Illinois Limited Liability Company Act (the “Act”) by the execution and filing of Articles of Organization under the name “White Rabbit Game Studio, LLC” (the “Articles of
Organization”), with the Illinois Secretary of State (the “Secretary of State”) on September 21, 2005. 
 SECTION 2. Office. The principal office of the Company shall be at 201 Crossen Ave., Elk Grove Village, Illinois, or such other place or places as the Members shall determine. 
 SECTION 3. Registered Agent. Kenneth Fedesna is the Company’s initial registered agent in the State of Illinois, and the address of the
registered office is 4 Oneida Lane, Hawthorne Woods, IL 60047. 
 SECTION 4. Term. The term of the Company commenced with the filing
of the Articles of Organization of the Company with the office of the Illinois Secretary of State on September 21, 2005, and the Company shall continue in existence until August 1, 2104 unless the Company is otherwise dissolved and its
affairs wound up as provided in this Agreement or as otherwise provided in the Act. 

 SECTION 5. Members. The name and the mailing address of the Members are as set forth on
Schedule B hereto. 
 SECTION 6. Purpose. The purpose of the Company is to engage in any lawful act or activity for which
limited liability companies may be formed under the Act. 
 SECTION 7. Management. 
 (a) Board of Managers. The business and affairs of the Company shall be managed by or under the direction of a Board consisting of two Managers
(the “Board”), unless there is only one Member, in which case the Board may consist of only one Manager. The Members shall designate, appoint and elect each Manager. The authorized number of Managers may be increased or decreased by
the Members at any time. Each Manager shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. The Managers designated by the Members are listed in Schedule B hereto.

 (b) Powers. The Board shall have the power to do any and all acts necessary, convenient or incidental to or for the furtherance of
the purposes described herein. 
 (c) Meetings of the Board. The Board of the Company may hold meetings, both regular and special,
within or outside the State of Illinois. Regular meetings of the Board may be held without notice at such time and at such place as shall from time to time be determined by the Board. Special meetings of the Board may be called by the President or
any Manager on not less than one day’s notice to each Manager by telephone, facsimile, mail, telegram or any other means of communication, and special meetings shall be called by the President or any Manager in like manner and with like notice
upon the written request of any one or more of the Managers. 
 (d) Quorum; Acts of the Board. At all meetings of the Board, a
majority of the Managers shall constitute a quorum for the transaction of business and, except as otherwise provided in any other provision of this Agreement, the act of a majority of the Managers present at any meeting at which there is a quorum
shall be the act of the Board. If a quorum shall not be present at any meeting of the Board, the Managers present at such meeting may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall
be present. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken without a meeting and without prior notice if all members of the Board or committee, as the case may be, consent thereto in
writing, and the writing or writings are filed with the minutes of proceedings of the Board or committee. 
 (e) Electronic
Communications. Members of the Board, or any committee designated by the Board, may participate in meetings of the Board, or any committee, by means of telephone conference or similar communications equipment that allows all persons
participating in the meeting to hear each other, and such participation in a meeting shall constitute presence in person at the meeting. If all the participants are participating by telephone conference or similar communications equipment, the
meeting shall be deemed to be held at the principal place of business of the Company. 
  

 2 

 (f) Committees of Managers. The Board may, by resolution passed by a majority of the whole Board,
designate one or more committees, each committee to consist of one or more of the Managers of the Company. The Board may designate one or more Managers as alternate members of any committee, who may replace any absent or disqualified member at any
meeting of the committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such members constitute a quorum, may unanimously appoint
another member of the Board to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board, shall have and may exercise all the powers and authority of the
Board in the management of the business and affairs of the Company. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board. Each committee shall keep regular minutes of
its meetings and report the same to the Board when required. 
 (g) Compensation of Managers; Expenses. The Board shall have the
authority to fix the compensation of Managers. The Managers may be paid their expenses, if any, of attendance at meetings of the Board, which may be a fixed sum for attendance at each meeting of the Board or a stated salary as Manager. No such
payment shall preclude any Manager from serving the Company in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings. 
 (h) Removal of Managers. Unless otherwise restricted by law, any Manager or the entire Board may be removed, with or without cause, at any time by
the Members and any vacancy caused by any such removal may (subject to Section 8) be filled by action of the Members. 
 (i) Managers
as Agents. Except as provided in this Agreement, a Manager may not bind the Company. 
 (j) Vote Required for Certain Actions.
Notwithstanding any contrary provision of this Agreement or the Act, without the prior written consent of a majority-in-interest of the Members, the Company shall not, and the Members or any Manager, Officer or other Person on behalf of the Company
shall not cause the Company to: (i) to the fullest extent permitted by law, dissolve or liquidate, in whole or in part, consolidate or merge with or into any other entity, or convey or transfer its properties and assets substantially as an
entirety to any entity; (ii) institute proceedings to be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against it or file a petition seeking or consenting to reorganization or relief
under any applicable federal or state law relating to bankruptcy or insolvency, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company of a substantial part of its
property, or make any assignment for the benefit of creditors, or admit in writing its inability to pay its debts generally as they become due, or take company action in furtherance of any such action; or (iii) amend or modify Sections 6, 7(a),
7(b), 7(d) or 7(f), this Section 7(j), or Sections 

  

 3 

 
12, 13, 14, 18 or 24 of this Agreement. To the fullest extent permitted by law, including Article 15, Sections 3(g) and 15 of the Act, the Managers shall
consider only the interests of the Company and its creditors in acting or otherwise voting on the matters referred to in this Section 7(j). 
 SECTION 8. Officers. 
 (a) In General. The officers of the Company shall consist of at least a President, a Secretary
and a Treasurer, and may include one or more Vice Presidents, Assistant Secretaries or Assistant Treasurers as the Board may designate from time to time. The initial officers appointed by the Members are listed in Schedule B hereto. The Board
shall appoint any additional or substituted officer of the Company. Any number of offices may be held by the same person. The Board may appoint such other officers and agents as it shall deem necessary or advisable who shall hold their offices for
such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board. The salaries of all officers and agents of the Company shall be fixed by or in the manner prescribed by the Board. The officers
of the Company shall hold office until their successors are chosen and qualified. Any officer elected or appointed by the Board may be removed at any time, with or without cause, by the affirmative vote of a majority of the Board. Any vacancy
occurring in any office of the Company shall be filled by the Board. 
 (b) President. The President shall be the chief executive
officer of the Company, shall preside at all meetings of the Members, if any, and the Board, shall be responsible for the general and active management of the business of the Company and shall see that all orders and resolutions of the Board are
carried into effect. The President shall execute all bonds, mortgages and other contracts, except (i) where required or permitted by law or this Agreement to be otherwise signed and executed or (ii) where signing and execution thereof
shall be expressly and exclusively delegated by the Board to some other officer or agent of the Company. 
 (c) Vice Presidents. In
the absence of the President or in the event of the President’s inability to act, the Vice President, if any (or in the event there be more than one Vice President, the Vice Presidents in the order designated by the Managers, or in the absence
of any designation, then in the order of their election), shall perform the duties of the President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President. The Vice Presidents, if any, shall
perform such other duties and have such other powers as the Board may from time to time prescribe. 
 (d) Secretary and Assistant
Secretaries. The Secretary shall be responsible for filing legal documents and maintaining records for the Company. The Secretary shall attend all meetings of the Board and all meetings of the Members, if any, and record all the proceedings of
the meetings of the Company and of the Board in a book to be kept for that purpose and shall perform like duties for the standing committees when required. The Secretary shall give, or cause to be given, notice of all meetings of the Members, if
any, and special meetings of the Board, and shall perform such other duties as may be prescribed by the Board or the President, under whose supervision the Secretary shall serve. The Assistant Secretary, or if there be more 

  

 4 

 
than one, the Assistant Secretaries in the order determined by the Board (or if there be no such determination, then in order of their election), shall, in
the absence of the Secretary or in the event of the Secretary’s inability to act, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board may from time to time
prescribe. 
 (e) Treasurer and Assistant Treasurers. The Treasurer shall have the custody of the Company’s funds and securities
and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company and shall deposit all moneys and other valuable effects in the name and to the credit of the Company in such depositories as may be designated
by the Board. The Treasurer shall disburse the funds of the Company as may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the President and to the Board, at its regular meetings or when the Board so
requires, an account of all of the Treasurer’s transactions and of the financial condition of the Company. The Assistant Treasurer, or if there shall be more than one, the Assistant Treasurers in the order determined by the Board (or if there
be no such determination, then in the order of their election), shall, in the absence of the Treasurer or in the event of the Treasurer’s inability to act, perform the duties and exercise the powers of the Treasurer and shall perform such other
duties and have such other powers as the Board may from time to time prescribe. 
 (f) Officers as Agents. The officers, to the extent
of their powers set forth in this Agreement or otherwise vested in them by action of the Board not inconsistent with this Agreement, are agents of the Company for the purpose of the Company’s business, and, subject to Section 7(j), the
actions of the officers taken in accordance with such powers shall bind the Company. 
 (g) Duties of Board and Officers. Except to
the extent otherwise provided herein, each Manager and officer shall have a fiduciary duty of loyalty and care similar to that of directors and officers of business corporations organized under the Illinois Business Corporation Act of 1983, as
amended. 
 SECTION 9. Capital Contributions. The Membership Interest Percentages of the Company are as set forth on Schedule B
hereto. The Members are not required to make any additional capital contribution to the Company, provided, however, that additional capital contributions may be made at such time and in such amounts as the Members shall determine.

 SECTION 10 Distributions. Subject to the Act and other applicable law, the Company may make distributions upon its outstanding
membership interests from time to time with the approval of a majority-in-interest of the Members. 
 SECTION 11. Allocation of Profits
and Losses. The Company’s profits and losses shall be allocated to the Members in accordance with the membership interest percentages set forth on Schedule B hereto. 
 SECTION 12. Assignments. Each Member may assign or transfer in whole or in part its limited liability company interest in the Company. If a Member
assigns or transfers all of 

  

 5 

 
its limited liability company interest in the Company pursuant to this Section 12, the transferee shall be admitted to the Company as a member of the
Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective upon the
transfer and, immediately following such admission, the transferor Member shall cease to be a member of the Company. Notwithstanding anything in this Agreement to the contrary, any successor to the Members by merger or consolidation shall, without
further act, be the Members hereunder, and such merger or consolidation shall not constitute an assignment for purposes of this Agreement and the Company shall continue without dissolution. 
 SECTION 13. Admission of Additional Members. Except as otherwise expressly provided in this Agreement, no Person shall be admitted as a Member of
the Company without the written consent of a majority-in-interest of the existing Members. 
 SECTION 14. Limited Liability. Except as
otherwise expressly provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Company, and neither any Member nor any
Manager shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member or manager of the Company. 
 SECTION 15. Books and Records. The Board shall keep or cause to be kept complete and accurate books of account and records with respect to the Company’s business. The books of the Company shall at all
times be maintained by the Board. The Member and its duly authorized representatives shall have the right to examine the Company books, records and documents during normal business hours for any purpose reasonably related to its interests as a
Member. The Company’s books of account shall be kept in accordance with GAAP. The Company’s independent auditor shall be an independent public accounting firm selected by the Members. 
 SECTION 16. Other Business. Each Member and any Affiliate of a Member may engage in or possess an interest in other business ventures (unconnected
with the Company) of every kind and description, independently or with others. The Company shall not have any rights in or to such independent ventures or the income or profits therefrom by virtue of this Agreement. 
 SECTION 17. Exculpation and Indemnification. 
 (a) Limitations on Liability. No Member, officer, Manager, employee or agent of the Company and no employee, representative, agent or Affiliate of a Member (collectively, the “Covered Persons”) shall be liable to the
Company, the Members or any other Person who is bound by this Agreement for any loss, damage or claim incurred by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company and in a manner
reasonably believed to be within the scope of the authority conferred on such Covered Person by this Agreement, except that a Covered Person shall be liable for any such loss, damage or claim incurred by reason of such Covered Person’s gross
negligence or willful misconduct. 
  

 6 

 (b) Indemnification of Covered Persons. To the fullest extent permitted by applicable law, a
Covered Person shall be entitled to indemnification from the Company for any loss, damage or claim incurred by such Covered Person by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company
and in a manner reasonably believed to be within the scope of the authority conferred on such Covered Person by this Agreement, except that no Covered Person shall be entitled to be indemnified in respect of any loss, damage or claim incurred by
such Covered Person by reason of such Covered Person’s gross negligence or willful misconduct with respect to such acts or omissions; provided, however, that any indemnity under this Section 17 shall be provided out of and to the extent of
Company assets only, and no Member shall have personal liability on account thereof. 
 (c) Expense Reimbursement. To the fullest
extent permitted by applicable law, expenses (including legal fees) incurred by a Covered Person in defending any claim, demand, action, suit or proceeding shall, from time to time, be advanced by the Company prior to the final disposition of such
claim, demand, action, suit or proceeding upon receipt by the Company of an undertaking by or on behalf of the Covered Person to repay such amount if it shall be determined that the Covered Person is not entitled to be indemnified as authorized in
this Section 17. 
 (d) Reliance Permitted. A Covered Person shall be fully protected in relying in good faith upon the records
of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or expert competence and who has
been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the existence and amount of assets from
which distributions to the Members might properly be paid. To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating thereto to the Company or to any other Covered Person, a Covered
Person acting under this Agreement shall not be liable to the Company or to any other Covered Person bound by this Agreement for its good faith reliance on the provisions of this Agreement or any approval or authorization granted by the Company or
any other Covered Person. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the Members to replace such other duties and
liabilities of such Covered Person. 
 (e) Survival. The foregoing provisions of this Section 17 shall survive any termination of
this Agreement. 
 SECTION 18. Dissolution. 
 (a) Dissolution. The Company shall be dissolved, and its affairs shall be wound up upon the first to occur of the following: (i) the consent of the Board and a majority-in-interest of the Members,
(ii) the entry of a decree of judicial dissolution under Article 5, Section 50 of the Act, or (iii) at any time there are no members of the Company, unless the Company is continued in accordance with the Act and this Agreement.

  

 7 

 (b) Bankruptcy of Members. Notwithstanding any other provision of this Agreement, the occurrence
of any Insolvency Event with respect to any Member shall not cause such Member to cease to be a member of the Company and upon the occurrence of such Insolvency Event, the business of the Company shall continue without dissolution. 
 (c) Winding Up. In the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs (including the
sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Article 35, Section 10 of the Act. 
 SECTION 19. Waiver of Partition; Nature of Interest. Except as otherwise expressly provided in this Agreement, to the fullest extent permitted by
law, each Member hereby irrevocably waives any right or power that such Member might have to cause the Company or any of its assets to be partitioned, to cause the appointment of a receiver for all or any portion of the assets of the Company, to
compel any sale of all or any portion of the assets of the Company pursuant to any applicable law or to file a complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the
Company. No Member shall have any interest in any specific assets of the Company, and no Member shall have the status of a creditor with respect to any distribution to be received from the Company. The interest of the Members in the Company is
personal property. 
 SECTION 20. Benefits of Agreement; No Third-Party Rights. None of the provisions of this Agreement shall be for
the benefit of or enforceable by any creditor of the Company or by any creditor of any Member. Nothing in this Agreement shall be deemed to create any right in any Person (other than Covered Persons) not a party hereto, and this Agreement shall not
be construed in any respect to be a contract in whole or in part for the benefit of any Person (other than Covered Persons) not a party hereto. 
 SECTION 21. Severability. It is the desire and intent of the parties hereto that the provisions of this Agreement shall be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, if any particular provision of this Agreement shall be adjudicated to be invalid or unenforceable, such provision shall be deemed amended to delete therefrom the portion thus adjudicated to be invalid or
unenforceable, such deletion to apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made. 
 SECTION 22. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof. 
 SECTION 23. Governing Law. All questions concerning the construction, validity, and interpretation of this Agreement and the performance of the
obligations imposed by this Agreement shall be governed by the law of the State of Illinois (without regard to principles of conflict of laws). 
  

 8 

 SECTION 24. Amendments. This Agreement may be amended and any provision hereof may be substituted
or repealed by a resolution of the Board approved by a majority-in-interest of the Members. 
 SECTION 25. Effectiveness. Pursuant to
Article 5, Section 35 of the Act, this Agreement shall be effective as of the Effective Date. 
  

 9 

 IN WITNESS WHEREOF, the undersigned have duly executed this Operating Agreement as of the date first
above written. 
  

	
	MEMBERS:
	
	KENNETH FEDESNA
	  

	
	MARK LOFFREDO
	  

	
	EDWARD PELLEGRINI
	  

	
	EDWARD SUCHOCKI
	  

	
	WILLIAM J. FEDERIGHI
	  

	
	THOMAS M. LOTUS
	  

	
	DANTE FEDERIGHI
	  

 Signature Page to Amendment to LLC Agreement 

 SCHEDULE A 
 DEFINITIONS AND RULES OF CONSTRUCTION 
 When used in this Agreement, the following terms have the
following meanings: 
 “Affiliate” means, with respect to any specified Person, another Person that directly, or indirectly
through one or more intermediaries, controls or is controlled by or is under common control with the Person specified. For purposes of this definition, “control” means the power to direct the management and policies of a Person, directly
or indirectly, whether through ownership of voting securities, by contract or otherwise; and “controlled” and “controlling” have meanings correlative to the foregoing. 
 “Bankruptcy Code” means The Bankruptcy Reform Act of 1978, as amended from time to time, and as codified as 11 U.S.C. Section 101
et seq. 
 “GAAP” means the generally accepted accounting principles promulgated or adopted by the Financial
Accounting Standards Board and its predecessors and successors from time to time. 
 “Governmental Authority” means the
United States of America, any state or other political subdivision thereof and any entity (foreign or domestic) exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
 “Insolvency Event” means, as to any Person: 
 (a) (i) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of such Person in an involuntary case under the Bankruptcy Code or any applicable bankruptcy, insolvency or
other similar law now or hereafter in effect, which decree or order is not stayed, or any other similar relief shall be granted under any applicable federal or state law, (ii) an involuntary case is commenced against such Person under any
applicable bankruptcy, insolvency or other similar law now or hereafter in effect which remains undismissed, undischarged or unbonded for a period of 90 days or (iii) such Person shall have a decree or an order for relief entered with respect
to it or commence a voluntary case under the Bankruptcy Code or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or 
 (b) such Person shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to all or
substantially all of its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against such Person; or such Person shall admit in writing its inability to pay its debts generally as they
become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make a general assignment for the benefit of its creditors or voluntarily suspend payment of its obligations. 
  

 A-1 

 With respect to a Member, the foregoing definition of “Insolvency Event” is intended to replace
and shall supersede and replace the definition of “Bankruptcy” set forth in Article 1 Section 5 of the Act. 
 “Managers” means the Persons elected or appointed to the Board from time to time by the Member in their capacity as managers of the Company. A Manager is hereby designated as a “manager” of the Company within the
meaning of Article 1 Section 5 of the Act. 
 “Person” means any natural person, corporation, business trust, joint
venture, association, limited liability company, partnership, joint stock company, corporation, trust, unincorporated organization or Governmental Authority. 
 Definitions in this Agreement apply equally to both the singular and plural forms of the defined terms. The words “include” and “including” shall be deemed to be followed by the phrase
“without limitation.” The terms “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section, paragraph or subdivision. Section and
subsection titles and captions appear as a matter of convenience only and shall not affect the interpretation of this Agreement. All Section, paragraph, clause or Schedule references not attributed to a particular document shall be references to
such parts of this Agreement. 
  

 A-2 

 SCHEDULE B 
 MANAGERS 
  

			
	 Name
	  	 Address

	Edward Pellegrini	  	1303 N. LaGuna Court,
		  	Palatine, Illinois 60067
		
	Kenneth Fedesna	  	4 Oneida Lane
		  	Hawthorn Woods, Illinois 60047
		
	Mark Loffredo	  	31169 Prairie Ridge Road
		  	Green Oaks, Illinois 60048
		
	William Federighi	  	1001 S. Broadway
		  	Park Ridge, Illinois 60068
		
	Dante Federighi	  	201 W. Grand Avenue, Apt 901
		  	Chicago, Illinois 60610
		
	Thomas Lotus	  	9647 Los Palos Lane
		  	Palos Hills, Illinois 60465

 OFFICERS 
  

			
	 Name
	  	 Title

	Ken Fedesna	  	President
	Ed Pellegrini	  	Vice President
	Mark Loffredo	  	Treasurer

 MEMBERS 
  

						
	 Name
	  	 Mailing Address
	  	 Membership
 Interests
	 
	Edward Pellegrini	  	1303 N. LaGuna Court,	  	32.00	%
		  	Palatine, Illinois 60067	  		
			
	Kenneth Fedesna	  	4 Oneida Lane	  	21.00	 
		  	Hawthorn Woods, Illinois 60047	  		
			
	Mark Loffredo	  	31169 Prairie Ridge Road	  	12.50	 
		  	Green Oaks, Illinois 60048	  		
			
	Edward Suchocki	  	614 Hapsfield Lane	  	12.50	 
		  	Buffalo Grove, Illinois 60089	  		
			
	William Federighi	  	1001 S. Broadway	  	5.50	 
		  	Park Ridge, Illinois 60068	  		
			
	Dante Federighi	  	201 W. Grand Avenue, Apt 901	  	11.00	 
		  	Chicago, Illinois 60610	  		
			
	Thomas Lotus	  	9647 Los Palos Lane	  	5.50	 
		  	Palos Hills, Illinois 60465	  		
	 Total
	  		  	100.00	%

  

 B-1 

 EXHIBIT J 
 September [    ], 2007 
 Mr. Chris Marcolefas 
 TouchTunes Music Corporation 
 3 Commerce Place, 4th Floor 
 Montreal, Quebec,
H3E 1H7 
  

			
	 RE:
	  	Lease Renewal Terms

 Dear Mr. Marcolefas: 
 As a condition to TouchTunes Music Corporation (“TouchTunes”) entering into an agreement to purchase White Rabbit Game Studio, LLC (“White Rabbit”), TouchTunes and KBP Properties, LLC agree to the following lease terms
regarding the property located at 201 Crossen Avenue. This Memorandum of Lease Terms will become effective only on the Closing Date, as such term is defined in the Purchase Agreement, among TouchTunes, White Rabbit Studio LLC and the sellers named
therein, dated the date hereof. This Memorandum of Lease Terms is a condition to the Closing under the Purchase Agreement pursuant to Section 6.2(f)(ii) thereof. 
 Landlord 
 KBP Properties, LLC, an Illinois limited liability company 
 Tenant 
 TouchTunes Music Corporation, a Delaware corporation

 Building 
 201 Crossen, Elk Grove Village, IL

 Approximately 15,000 square feet 
 Leased Premises

 10,000 square feet – , as shown on the attached floor plan. 
 Note that the Landlord will occupy the remaining 5,000 s.f. of the building and will require access to this area periodically during normal business hours (i.e., Monday – Friday 8:00 am – 5:00 pm).

 Term 
 One (1) year commencing on the first
day of the month following the Purchase Agreement Closing Date. Tenant shall have the right to occupy Leased Premises immediately following the Purchase Agreement Closing Date until the first day of the Term at no cost. 

			
	Mr. Christopher Marcolefas	  	September 24, 2007
	TouchTunes Music Corporation	  	 Page
 2
 of 2

  
 Base Net Rental Rate 

 $5,000 per month (based on $6.00 per rentable square foot), payable on the first day of each month commencing on the first day of the Term.

 Building Operating Expenses 
 The Tenant’s
share of the Building Operating Expenses will be 66.67% and are estimated below: 
  

			
	Real Estate Taxes:	  	$2,500 per month, payable on the first day of each month commencing on the first day of the Term. (based on $3.00 per s.f. estimate for taxes, 2005 bill was $2.74 per s.f., actual 2006 bill
is anticipated to be received circa September/October 2007). Landlord shall provide Tenant with original copies of Real Estate Tax invoices., and Real Estate Tax payments made by Tenant shall be paid based on actual Real Estate Taxes. Adjustments to
the monthly Real Estate Tax payments shall be made upon receipt by Landlord of actual tax invoices.
		
	Building Insurance:	  	$195 per month

 Exterior Maintenance 
 Landlord will pay all costs for snowplowing and landscaping and will contract for this work. 
 Utilities

 Tenant will pay for all utilities including, but not limited to, water, gas, and electric. Landlord shall provide Tenant with original copies of
all invoices related to Utilities. Amounts are payable 30 days following receipt of invoice by Tenant. 
 Security Deposit 
 $0.00 
 Option to Renew 
 The lease will provide for an additional one (1) year Option to Renew at a 3% increase of the rental rate ($5,150 per month). All other terms and conditions will
remain the same. The Tenant must provide the Landlord a minimum of one-hundred twenty (120) days written notice of its intent to exercise the Option to Renew. 
 Option to Terminate Lease 
 The Tenant shall have the option to terminate the Lease at any time during the Term or Renewal period by
providing a one-hundred eighty (180) days written notice of its intent to terminate without having any further obligations to the Landlord. 
 Other 
 The Landlord shall use reasonable commercial efforts to have a lease prepared and delivered to Tenant for review within 30
days following the Purchase Agreement Closing Date. 

			
	Mr. Christopher Marcolefas	  	September 24, 2007
	TouchTunes Music Corporation	  	Page 2 of 2

  
 Please let us know at your earliest
convenience if these terms meet with your approval. If so, I will arrange for a lease to be prepared. 
 If you have any questions, I can be reached at
(847) 952-7501. 
  

	
	Sincerely,
	
	 Ed Pellegrini

	Ed Pellegrini
	President
	
	EEP:jlk

 

 

 EXHIBIT K 
 September 24, 2007                 
 To
the Sellers named in the 
 Purchase Agreement 
 referred to below
(the “Sellers”) 
 Ladies and Gentlemen: 
 We have acted as counsel to TouchTunes Music Corporation, a Delaware corporation (the “Company”), in connection with the acquisition on the date hereof by the Company of White Rabbit Game Studio, LLC
pursuant to the Purchase Agreement, dated as of September 24, 2007, among the Company and the Sellers named therein (the “Purchase Agreement”). This letter is delivered to you pursuant to Section 6.3(c) of the
Purchase Agreement. Unless otherwise defined herein, capitalized terms used herein have the meanings provided in the Purchase Agreement. 
 We have reviewed (i) the Purchase Agreement, (ii) the Investors’ Rights Agreement, dated as of November 9, 2006, among the Company and the Investors named therein, as amended by Amendment No. 1, dated the date
hereof (the “Investors’ Rights Agreement”), and (iii) such corporate records, certificates and other documents, and such questions of law, as we have deemed necessary or appropriate for the purposes of this
opinion. The Purchase Agreement and the Investors’ Rights Agreement are referred to herein as the “Transaction Documents.” 
 We have assumed that all signatures are genuine, that all documents submitted to us as originals are authentic and that all copies of documents submitted to us conform to the originals. We have further assumed the
accuracy of the representations contained in the Purchase Agreement. 
 We have made no investigation for the purpose of verifying the
assumptions set forth herein. We have relied as to certain matters on information obtained from public officials, officers of the Company and other sources believed by us to be responsible. 
 We have assumed that the Transaction Documents have been duly authorized, executed and delivered by all parties thereto other than the Company, and that
all such other parties have all requisite power and authority to effect the transactions contemplated by the Transaction Documents. We have also assumed that the Transaction Documents are the valid, binding and enforceable obligations of each party
thereto other than the Company. We have made no investigation for the purpose of verifying the assumptions set forth herein. We have relied as to certain matters on information obtained from public officers, officers of the Company and other sources
believed by us to be responsible. 

 Where statements in this opinion are qualified by expressions such as “known to us,” “to
our knowledge,” “of which we are aware” or words of similar effect, such expressions refer to the actual knowledge, but not constructive or imputed knowledge, of the attorneys in our firm principally responsible for handling this
transaction for the Company, without any representation or implication that any inquiry has been made with respect to such statements. 
 Based upon the foregoing, and subject to the qualifications and assumptions set forth below, we are of the opinion that, insofar as the law of the Delaware General Corporation Law (the “DGCL”) and the Federal law of the
United States of America are concerned: 
 1. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has the corporate power and authority to execute and deliver the Transaction Documents and to consummate the transactions contemplated thereby. 
 2. The Company has duly authorized the Transaction Documents and each of the Transaction Documents constitutes the valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to
general equity principles. 
 3. No consent, approval, authorization or other action by or filing with any governmental agency or
instrumentality of the United States of America or under the DGCL is required on the part of the Company for the execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby in accordance with the
terms thereof, except those already obtained or made or those required under Federal and state securities laws. 
 4. The execution and
delivery of the Transaction Documents by the Company and the consummation by the Company of the transactions contemplated thereby in accordance with the terms thereof do not violate (i) the DGCL or any Federal statute, law, rule or regulation
known to us to which the Company is subject, (ii) the Certificate of Incorporation or Bylaws of the Company, or (iii) to our knowledge, any order, writ, judgment, decree, determination or award that specifically names the Company, other
than, in the case of clause (iii) above, any such items that, individually or in the aggregate, would not be material with respect to the Company. 
 The foregoing opinion is subject to the following qualifications: 
 (a) We express no opinion with respect
to: 
  

	 	(i)	Federal or state securities or “blue sky” laws; 

  

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	 	(ii)	any Federal or state securities antifraud laws; 

  

	 	(iii)	Federal or state antitrust laws or restrictions on non-compete provisions; 

  

	 	(iv)	waivers of defenses, subrogation and related rights, rights to trial by jury, rights to object to venue, or other rights or benefits bestowed by operation of law;

  

	 	(v)	releases or waivers of unmatured claims or rights; 

  

	 	(vi)	indemnification, contribution, exculpation or arbitration provisions, or provisions for the non-survival of representations, to the extent they purport to indemnify any party
against, or release or limit any party’s liability for, its own breach or failure to comply with statutory obligations, or to the extent such provisions are contrary to public policy; 

  

	 	(vii)	grants of powers of attorney or proxies; 

  

	 	(viii)	restrictions upon transfers, pledges or assignment of a party’s rights under the Transaction Documents; 

  

	 	(ix)	provisions purporting to require a prevailing party in a dispute to pay attorneys’ fees and expenses, or other costs, to a non-prevailing party; 

  

	 	(x)	provisions purporting to supersede equitable principles, including provisions requiring amendments and waivers to be in writing and provisions making notices effective even if not
actually received; 

  

	 	(xi)	exclusive jurisdiction or venue provisions; or 

  

	 	(xii)	the enforceability of the indemnification and contribution provisions in the Investors’ Rights Agreement. 

 (b) We express no opinion as to any legal requirements or restrictions applicable to any Seller. 
 (c) Our opinions in paragraphs 3 and 4(i) above are limited to laws and regulations normally applicable to transactions of the type contemplated by the
Transaction Documents and do not extend to laws or regulations relating to, or to licenses, permits, approvals and filings necessary for, the conduct of the Company’s business or to any environmental laws or regulations. 
  

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 (d) To the extent we are passing upon the compliance of the Transaction Documents and the transactions
contemplated thereby with law, we have assumed the accuracy, completeness and fairness of the disclosures made to the Sellers. 
 We are
members of the Bar of the State of New York. We do not express any opinion herein on any laws other than the DGCL and the Federal law of the United States of America. 
 This letter is given solely for your benefit. It may not be disclosed to or relied upon by any other person without our written consent. 
  

	
	Very truly yours,

  

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