Document:

WARRANT

            	 
	
              NO.
                __________

            	
              CUSTOMER
                ACQUISITION NETWORK HOLDINGS, INC. 

            	
              __________
                Shares

            
	 	 	 

    

    WARRANT
      TO PURCHASE COMMON STOCK

     

    VOID
      AFTER 5:30 P.M., EASTERN 

    TIME,
      ON THE EXPIRATION DATE

     

    THIS
      WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT
      BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT
      BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT
      COMPLIANCE WITH THE REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE
      FEDERAL AND STATE SECURITIES LAWS OR APPLICABLE EXEMPTIONS
      THEREFROM.

     

    FOR
      VALUE
      RECEIVED, CUSTOMER ACQUISITION NETWORK HOLDINGS, INC., a Delaware corporation
      (the “Company”), hereby agrees to sell upon the terms and on the conditions
      hereinafter set forth, but no later than 5:30 p.m., Eastern Time, on the
      Expiration Date (as hereinafter defined), to __________,
      or
      registered assigns (the “Holder”), under the terms as hereinafter set forth,
__________
      fully
      paid and non-assessable shares of the Company’s Common Stock, par value $0.001
      per share (the “Warrant Stock”), at a purchase price of $2.50 per share (the
“Warrant Price”), pursuant to this warrant (this “Warrant”). The number of
      shares of Warrant Stock to be so issued and the Warrant Price are subject to
      adjustment in certain events as hereinafter set forth. The term “Common Stock”
shall mean, when used herein, unless the context otherwise requires, the stock
      and other securities and property at the time receivable upon the exercise
      of
      this Warrant.

     

    1.  Exercise
      of Warrant.

     

    a.  The
      Holder may exercise this Warrant according to its terms by (i) surrendering
      this
      Warrant, properly endorsed, to the Company at the address set forth in Section
      10, (ii) the subscription form attached hereto having then been duly executed
      by
      the Holder, and (iii) payment of the purchase price being made to the Company
      for the number of shares of the Warrant Stock specified in the subscription
      form, or as otherwise provided in this Warrant, prior to 5:30 p.m., Eastern
      Time, on May __, 2013 (the
      “Expiration
      Date”).

     

    b.  (i)
      The
      aggregate purchase price for the shares of Warrant Stock being purchased may
      be
      paid (1) either by cash, certified check or bank draft or wire transfer of
      immediately available funds, or (2) subject to Section 1b.(ii) below, by
      surrender of a number of shares of Warrant Stock having a fair market value
      equal to the aggregate purchase price of the Warrant Stock being purchased
      (“Cashless
      Exercise”)
      as
      determined herein. If the Holder elects the Cashless Exercise method of payment,
      the Company shall issue to the Holder a number of shares of Warrant Stock
      determined in accordance with the following formula:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      
        	
                X
 = Y(A
                  - B)

              
	
                       
                  A

              

      

    

    

      
        	
                with:

              	
                X
                  =
                  

              	
                the
                  number of shares of Warrant Stock to be issued to the Holder;

              
	 	 	 
	 	
                Y
                  =

              	
                the
                  number of shares of Warrant Stock with respect to which the Warrant
                  is
                  being exercised;

              
	 	 	 
	 	
                A
                  =

              	
                the
                  fair value per share of Common
                  Stock on
                  the date of exercise of this Warrant;
                  and 

              
	 	 	 
	 	
                B
                  =

              	
                the
                  then-current Warrant Price of
                  the Warrant

              

      

    

     

    For
      the
      purposes of this Section 1b., “fair value” per share of Common Stock shall mean
      (A) the average of the closing sales prices, as quoted on the primary national
      or regional stock exchange on which the Common Stock is listed, or,
      if not
      listed,
      the OTC
      Bulletin Board if quoted thereon, on the five
      consecutive trading days immediately preceding the date of exercise, or (B)
      if
      the Common Stock is not publicly traded as set forth above, as reasonably and
      in
      good faith determined by the Board of Directors of the Company as of the date
      which the notice of exercise is deemed to have been sent to the
      Company.

    

    (ii)
      Notwithstanding the foregoing, the Cashless Exercise option set forth in clause
      (i) of Section 1b. above shall only be available so long as the Company shall
      not have registered the Warrant Stock in an effective registration statement
      with the Securities and Exchange Commission on or prior to the six month
      anniversary of the date that this warrant is issued. 

     

    c.  This
      Warrant may be exercised in whole or in part so long as any exercise in part
      hereof would not involve the issuance of fractional shares of Warrant Stock.
      If
      exercised in part, the Company shall deliver to the Holder a new Warrant,
      identical in form, in the name of the Holder, evidencing the right to purchase
      the number of shares of Warrant Stock as to which this Warrant has not been
      exercised, which new Warrant shall be signed by the Chairman, Chief Executive
      Officer, President or any Vice President of the Company. The term Warrant as
      used herein shall include any subsequent Warrant issued as provided
      herein.

     

    d.  No
      fractional shares or scrip representing fractional shares shall be issued upon
      the exercise of this Warrant. The Company shall pay cash in lieu of fractions
      with respect to the Warrants based upon the fair market value of such fractional
      shares of Common Stock (which shall be the closing price of such shares on
      the
      exchange or market on which the Common Stock is then traded) at the time of
      exercise of this Warrant.

     

    
      
         

      

      
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    e.  In
      the
      event of any exercise of the rights represented by this Warrant, a certificate
      or certificates for the Warrant Stock so purchased, registered in the name
      of
      the Holder, shall be delivered to the Holder within a reasonable time after
      such
      rights shall have been so exercised. The person or entity in whose name any
      certificate for the Warrant Stock is issued upon exercise of the rights
      represented by this Warrant shall for all purposes be deemed to have become
      the
      holder of record of such shares immediately prior to the close of business
      on
      the date on which the Warrant was surrendered and payment of the Warrant Price
      and any applicable taxes was made, irrespective of the date of delivery of
      such
      certificate, except that, if the date of such surrender and payment is a date
      when the stock transfer books of the Company are closed, such person shall
      be
      deemed to have become the holder of such shares at the opening of business
      on
      the next succeeding date on which the stock transfer books are open. Except
      as
      provided in Section 4 hereof, the Company shall pay any and all documentary
      stamp or similar issue or transfer taxes payable in respect of the issue or
      delivery of shares of Common Stock on exercise of this Warrant; provided,
      however, that the Company shall not be required to pay any tax that may be
      payable in respect of any issuance and delivery of shares of Warrant Stock
      to
      any Person other than the Holder or with respect to any income tax due by the
      Holder with respect to any shares of Warrant Stock. “Person” shall mean any
      natural person, corporation, division of a corporation, partnership, limited
      liability company, trust, joint venture, association, company, estate,
      unincorporated organization or government or any agency or political subdivision
      thereof.

     

    2.  Disposition
      of Warrant Stock and Warrant.

     

    a.  The
      Holder hereby acknowledges that this Warrant and any Warrant Stock purchased
      pursuant hereto are, as of the date hereof, not registered: (i) under the Act
      on
      the ground that the issuance of this Warrant is exempt from registration under
      Section 4(2) of the Act as not involving any public offering or (ii) under
      any
      applicable state securities law because the issuance of this Warrant does not
      involve any public offering; and that the Company’s reliance on the Section 4(2)
      exemption of the Act and under applicable state securities laws is predicated
      in
      part on the representations hereby made to the Company by the Holder that it
      is
      acquiring this Warrant and will acquire the Warrant Stock for investment for
      its
      own account, with no present intention of dividing its participation with others
      or reselling or otherwise distributing the same, subject, nevertheless, to
      any
      requirement of law that the disposition of its property shall at all times
      be
      within its control.

     

    The
      Holder hereby agrees that it will not sell or transfer all or any part of this
      Warrant and/or Warrant Stock, except pursuant to an effective registration
      statement under the Act, unless and until it shall first have given notice
      to
      the Company describing such sale or transfer and furnished to the Company either
      (i) an opinion of counsel for the Company, which the Company shall obtain at
      its
      own expense, to the effect that the proposed sale or transfer may be made
      without registration under the Act and without registration or qualification
      under any state law, or (ii) an interpretative letter from the Securities and
      Exchange Commission to the effect that no enforcement action will be recommended
      if the proposed sale or transfer is made without registration under the
      Act.

     

    
      
         

      

      
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    b.  If,
      at
      the time of issuance of the shares issuable upon exercise of this Warrant,
      no
      registration statement is in effect with respect to such shares under applicable
      provisions of the Act, the Company may at its election require that the Holder
      provide the Company with written reconfirmation of the Holder’s investment
      intent and that any stock certificate delivered to the Holder of a surrendered
      Warrant shall bear a legend reading substantially as follows:

     

    “THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933 AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
      DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      SECURITIES ACT OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER
      OF
      THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.”

     

    In
      addition, so long as the foregoing legend may remain on any stock certificate
      delivered to the Holder, the Company may maintain appropriate “stop transfer”
orders with respect to such certificates and the shares represented thereby
      on
      its books and records and with those to whom it may delegate registrar and
      transfer functions.

     

    3.  Reservation
      of Shares.
      The
      Company hereby agrees that at all times there shall be reserved for issuance
      upon the exercise of this Warrant such number of shares of its Common Stock
      as
      shall be required for issuance upon exercise of this Warrant. The Company
      further agrees that all shares which may be issued upon the exercise of the
      rights represented by this Warrant will be duly authorized and will, upon
      issuance and against payment of the Warrant Price therefor, be validly issued,
      fully paid and non-assessable, free from all taxes, liens, charges and
      preemptive rights with respect to the issuance thereof, other than taxes, if
      any, in respect of any transfer occurring contemporaneously with such issuance
      and other than transfer restrictions imposed by federal and state securities
      laws.

     

    4.  Exchange,
      Transfer or Assignment of Warrant.
      

     

    a.  This
      Warrant is exchangeable, without expense, at the option of the Holder, upon
      presentation and surrender hereof to the Company or at the office of its stock
      transfer agent, if any, for other Warrants of different denominations, entitling
      the Holder or Holders thereof to purchase in the aggregate the same number
      of
      shares of Common Stock purchasable hereunder. Upon surrender of this Warrant
      to
      the Company or at the office of its stock transfer agent, if any, with an
      appropriate instrument of assignment duly executed and funds sufficient to
      pay
      any transfer tax, the Company shall, without charge, execute and deliver a
      new
      Warrant in the name of the assignee named in such instrument of assignment
      and
      this Warrant shall promptly be canceled. This Warrant may be divided or combined
      with other Warrants that carry the same rights upon presentation hereof at
      the
      office of the Company or at the office of its stock transfer agent, if any,
      together with a written notice specifying the names and denominations in which
      new Warrants are to be issued and signed by the Holder hereof.

     

    b. Notwithstanding
      anything to the contrary contained herein, at such time as this Warrant shall
      be
      registered by the Company under the Act, Holder shall deliver this Warrant
      to
      the Company in exchange for a warrant certificate representing the registered
      warrant, which shall entitle Holder to purchase the same number of shares of
      Warrant Stock and at the same Warrant Price as exists at the time of the
      surrender. 

     

    
      
         

      

      
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    5.  Capital
      Adjustments.
      This
      Warrant is subject to the following further provisions:

     

    a.  Recapitalization,
      Reclassification and Succession.
      If any
      recapitalization of the Company or reclassification of its Common Stock or
      any merger or consolidation of the Company into or with a Person, or the sale
      or
      transfer of all or substantially all of the Company’s assets or of any successor
      corporation’s assets to any Person (any such Person being included within the
      meaning of the term “successor corporation”) shall be effected, at any time
      while this Warrant remains outstanding and unexpired, then, as a condition
      of
      such recapitalization, reclassification, merger, consolidation, sale or
      transfer, lawful and adequate provision shall be made whereby the Holder of
      this
      Warrant thereafter shall have the right to receive upon the exercise hereof
      as
      provided in Section 1 and in lieu of the shares of Common Stock immediately
      theretofore issuable upon the exercise of this Warrant, such shares of capital
      stock, securities or other property as may be issued or payable with respect
      to
      or in exchange for a number of outstanding shares of Common Stock equal to
      the
      number of shares of Common Stock immediately theretofore issuable upon the
      exercise of this Warrant had such recapitalization, reclassification, merger,
      consolidation, sale or transfer not taken place, and in each such case, the
      terms of this Warrant shall be applicable to the shares of stock or other
      securities or property receivable upon the exercise of this Warrant after such
      consummation.

     

    b.  Subdivision
      or Combination of Shares.
      If the
      Company at any time while this Warrant remains outstanding and unexpired shall
      subdivide or combine its Common Stock, the number of shares of Warrant Stock
      purchasable upon exercise of this Warrant and the Warrant Price shall be
      proportionately adjusted.

     

    c.  Stock
      Dividends and Distributions.
      If the
      Company at any time while this Warrant is outstanding and unexpired shall issue
      or pay the holders of its Common Stock, or take a record of the holders of
      its
      Common Stock for the purpose of entitling them to receive, a dividend payable
      in, or other distribution of, Common Stock, then (i) the Warrant Price shall
      be
      adjusted in accordance with Section 5(e) and (ii) the number of shares of
      Warrant Stock purchasable upon exercise of this Warrant shall be adjusted to
      the
      number of shares of Common Stock that the Holder would have owned immediately
      following such action had this Warrant been exercised immediately prior
      thereto.

     

    d.  Stock
      and Rights Offering to Stockholders.
      If the
      Company shall at any time after the date of issuance of this Warrant distribute
      to all holders of its Common Stock any shares of capital stock of the Company
      (other than Common Stock) or evidences of its indebtedness or assets (excluding
      cash dividends or distributions paid from retained earnings or current year’s or
      prior year’s earnings of the Company) or rights or warrants to subscribe for or
      purchase any of its securities (excluding those referred to in the immediately
      preceding paragraph) (any of the foregoing being hereinafter in this paragraph
      called the “Securities”), then in each such case, the Company shall reserve
      shares or other units of such Securities for distribution to the Holder upon
      exercise of this Warrant so that, in addition to the shares of the Common Stock
      to which such Holder is entitled, such Holder will receive upon such exercise
      the amount and kind of such Securities which such Holder would have received
      if
      the Holder had, immediately prior to the record date for the distribution of
      the
      Securities, exercised this Warrant.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    e.  Warrant
      Price Adjustment.
      Whenever the number of shares of Warrant Stock purchasable upon exercise of
      this
      Warrant is adjusted, as herein provided, the Warrant Price payable upon the
      exercise of this Warrant shall be adjusted to that price determined by
      multiplying the Warrant Price immediately prior to such adjustment by a fraction
      (i) the numerator of which shall be the number of shares of Warrant Stock
      purchasable upon exercise of this Warrant immediately prior to such adjustment,
      and (ii) the denominator of which shall be the number of shares of Warrant
      Stock
      purchasable upon exercise of this Warrant immediately thereafter.

     

    f.  Certain
      Shares Excluded.
      The
      number of shares of Common Stock outstanding at any given time for purposes
      of
      the adjustments set forth in this Section 5 shall exclude any shares then
      directly or indirectly held in the treasury of the Company.

     

    g.  Deferral
      and Cumulation of De Minimis Adjustments.
      The
      Company shall not be required to make any adjustment pursuant to this Section
      5
      if the amount of such adjustment would be less than one percent (1%) of the
      Warrant Price in effect immediately before the event that would otherwise have
      given rise to such adjustment. In such case, however, any adjustment that would
      otherwise have been required to be made shall be made at the time of and
      together with the next subsequent adjustment which, together with any adjustment
      or adjustments so carried forward, shall amount to not less than one percent
      (1%) of the Warrant Price in effect immediately before the event giving rise
      to
      such next subsequent adjustment.

     

    h.  Duration
      of Adjustment.
      Following each computation or readjustment as provided in this Section 5, the
      new adjusted Warrant Price and number of shares of Warrant Stock purchasable
      upon exercise of this Warrant shall remain in effect until a further computation
      or readjustment thereof is required.

     

    6.  Notice
      to Holders.

     

    a.  Notice
      of Record Date.
      In
      case:

     

    (i)  the
      Company shall take a record of the holders of its Common Stock (or other stock
      or securities at the time receivable upon the exercise of this Warrant) for
      the
      purpose of entitling them to receive any dividend (other than a cash dividend
      payable out of earned surplus of the Company) or other distribution, or any
      right to subscribe for or purchase any shares of stock of any class or any
      other
      securities, or to receive any other right;

     

    (ii)  of
      any
      capital reorganization of the Company, any reclassification of the capital
      stock
      of the Company, any consolidation with or merger of the Company into another
      Person, or any conveyance of all or substantially all of the assets of the
      Company to another Person; or

     

    (iii)  of
      any
      voluntary dissolution, liquidation or winding-up of the Company;

     

    then,
      and
      in each such case, the Company will mail or cause to be mailed to the Holder
      hereof at the time outstanding a notice specifying, as the case may be, (i)
      the
      date on which a record is to be taken for the purpose of such dividend,
      distribution or right, and stating the amount and character of such dividend,
      distribution or right, or (ii) the date on which such reorganization,
      reclassification, consolidation, merger, conveyance, dissolution, liquidation
      or
      winding-up is to take place, and the time, if any is to be fixed, as of which
      the holders of record of Common Stock (or such stock or securities at the
      time receivable upon the exercise of this Warrant) shall be entitled to exchange
      their shares of Common Stock (or such other stock or securities) for securities
      or other property deliverable upon such reorganization, reclassification,
      consolidation, merger, conveyance, dissolution, liquidation or winding-up.
      Such
      notice shall be mailed at least twenty (20) days prior to the record date
      therein specified, or if no record date shall have been specified therein,
      at
      least twenty (20) days prior to the date of such action, provided, however,
      failure to provide any such notice shall not affect the validity of such
      transaction.

     

    
      
         

      

      
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    b.  Certificate
      of Adjustment.
      Whenever any adjustment shall be made pursuant to Section 5 hereof, the Company
      shall promptly make a certificate signed by its Chairman, Chief Executive
      Officer, President, Vice President, Chief Financial Officer or Treasurer,
      setting forth in reasonable detail the event requiring the adjustment, the
      amount of the adjustment, the method by which such adjustment was calculated
      and
      the Warrant Price and number of shares of Warrant Stock purchasable upon
      exercise of this Warrant after giving effect to such adjustment, and shall
      promptly cause copies of such certificate to be mailed (by first class mail,
      postage prepaid) to the Holder of this Warrant.

     

    7.  Intentionally
      Omitted.

     

    8.  Price
      Protection; Reset of Warrant Price.
      Until
      the earlier of (i) 24 months from the date hereof or (ii) such date that there
      is an effective registration statement on file with the Securities and Exchange
      Commission covering the resale of any warrants to purchase shares of capital
      stock, in the event that the Company issues or sells any warrants or options
      to
      purchase shares of capital stock to which they may be acquired at an exercise
      price of less than $2.50 per share, then the Company shall promptly issue
      additional warrants to the Holder in an amount sufficient that the actual price
      per warrant paid hereunder (which is $2.50) (the “Per Warrant Purchase Price”),
      when divided by the total number of warrants issued will result in an actual
      Per
      Warrant Purchase Price paid by the Holder hereunder equal to such lower price
      (this is intended to be a “full ratchet” adjustment). Such adjustment shall be
      made successively whenever such an issuance is made. 

     

    9.  Maximum
      Exercise.
      The
      Holder shall not be entitled to exercise this Warrant on an exercise date,
      in
      connection with that number of shares of Common Stock which would be in excess
      of the sum of (i) the number of shares of Common Stock beneficially owned
      by the Holder and its affiliates on an exercise date, and (ii) the number
      of shares of Common Stock issuable upon the exercise of this Warrant with
      respect to which the determination of this limitation is being made on an
      exercise date, which would result in beneficial ownership by the Holder and
      its
      affiliates of more than 4.99% of the outstanding shares of Common Stock on
      such
      date. For the purposes of the immediately preceding sentence, beneficial
      ownership shall be determined in accordance with Section 13(d) of the
      Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder.
      Subject to the foregoing, the Holder shall not be limited to aggregate exercises
      which would result in the issuance of more than 4.99%. The restriction described
      in this paragraph may be waived, in whole or in part, upon sixty-one (61)
      days prior notice from the Holder to the Company to increase such percentage
      to
      up to 9.99%, but not in excess of 9.99%.

     

    
      
         

      

      
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    10.  Loss,
      Theft, Destruction or Mutilation.
      Upon
      receipt by the Company of evidence satisfactory to it, in the exercise of its
      reasonable discretion, of the ownership and the loss, theft, destruction or
      mutilation of this Warrant and, in the case of loss, theft or destruction,
      of
      indemnity reasonably satisfactory to the Company and, in the case of mutilation,
      upon surrender and cancellation hereof, the Company will execute and deliver
      in
      lieu hereof, without expense to the Holder, a new Warrant of like tenor dated
      the date hereof.

     

    11.  Warrant
      Holder Not a Stockholder.
      The
      Holder of this Warrant, as such, shall not be entitled by reason of this Warrant
      to any rights whatsoever as a stockholder of the Company.

     

    12.  Notices.
      Any
      notice required or contemplated by this Warrant shall be deemed to have been
      duly given if transmitted by registered or certified mail, return receipt
      requested, postage prepaid, or nationally recognized overnight delivery
      service,
      to
      the
      Company at its principal executive offices: 200 Park Avenue South, Suite
      908-909, New York, NY 10003, Attention: Chief Executive Officer, or to the
      Holder at the name and address set forth in the Warrant Register maintained
      by
      the Company.

     

    13.  Choice
      of Law.
      THIS
      WARRANT IS ISSUED UNDER AND SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED
      IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING
      EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

     

    14.  Jurisdiction
      and Venue.
      The
      Company and the Holder, by its acceptance hereof, hereby agree that any dispute
      which may arise between them arising out of or in connection with this Warrant
      shall be adjudicated before a court located in New York City, New York, and
      they
      hereby submit to the exclusive jurisdiction of the federal and state courts
      of
      the State of New York located in New York City with respect to any action or
      legal proceeding commenced by any party, and irrevocably waive any objection
      they now or hereafter may have respecting the venue of any such action or
      proceeding brought in such a court or respecting the fact that such court is
      an
      inconvenient forum, relating to or arising out of this Warrant or any acts
      or
      omissions relating to the sale of the securities hereunder, and consent to
      the
      service of process in any such action or legal proceeding by means of registered
      or certified mail, return receipt requested, postage prepaid, in care of the
      address set forth herein or such other address as either party shall furnish
      in
      writing to the other.

     

    

     

    [Signature
      Page Follows]

     

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the Company has duly caused this Warrant to be signed on its
      behalf, in its corporate name and by its duly authorized officer, as of this
      __ day
      of
      May, 2008.

     

     

    
      	 	
              CUSTOMER
                ACQUISITION NETWORK HOLDINGS, INC.

               

              By:_______________________________

              Name:
                

              Title:
                

            

    

     

    
      
         

      

      
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    FORM
      OF
      EXERCISE

     

    (to
      be
      executed by the registered holder hereof)

     

     

     

    The
      undersigned hereby exercises the right to purchase _________ shares of common
      stock, par value $0.001 per share (“Common Stock”), of Customer Acquisition
      Network Holdings,
      Inc.
      evidenced by the within Warrant Certificate for a Warrant Price of $2.50 per
      share (subject to adjustment in accordance with the Warrant) and herewith makes
      payment of the purchase price in full of (i) $__________ in cash or (ii) solely
      in the event that the Company is not in compliance with Section 1b(ii). of
      the Warrant, shares of Common Stock (pursuant to a Cashless Exercise in
      accordance with Section 1b.). Kindly issue certificates for shares of Common
      Stock (and for the unexercised balance of the Warrants evidenced by the within
      Warrant Certificate, if any) in accordance with the instructions given below.
      

     

     

    
      	Dated:____________________ , 20__ .	 	______________________________
	 	 	Name:

    

     

    Instructions
      for registration of stock:

    

    

    _____________________________

      Name
      (Please Print)

    

    Social
      Security or other identifying Number: _______________

    

    Address:____________________________________________

       City,
      State and Zip Code

     

    

    Instructions
      for registration of certificate representing

    the
      unexercised balance of Warrants (if any):

     

    

    _____________________________
      

    Name
      (Please Print)

     

    Social
      Security or other identifying Number: _______________

    

    Address:____________________________________________

       City,
      State and Zip Code

     

    
      
         

      

      
        10Unassociated Document

     

    ASSET
      PURCHASE AGREEMENT

     

    THIS
      ASSET PURCHASE AGREEMENT (this “Agreement”) is dated as of
      May 14, 2008 by and between CETCO OILFIELD SERVICES COMPANY, a
      Delaware corporation (“Buyer”), and PREMIUM REELED TUBING, L.L.C., a Louisiana
      limited liability company (“Seller”). Capitalized terms used but not otherwise
      defined herein shall have the respective meanings set forth in the Appendix
      of
      Definitions attached hereto and made a part hereof.

     

    WITNESSETH

     

    WHEREAS,
      Seller is engaged in the business of oilfield service industry and specifically
      the coil tubing industry (the “Business”); and

     

    WHEREAS,
      Buyer desires to acquire substantially all of the assets, and Seller desires
      to
      sell such assets to Buyer, all on the terms and subject to the conditions set
      forth herein.

     

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

     

    AGREEMENT

     

    1. Purchased
      Assets.

     

    1.1 Purchased
      Assets.
      On the
      terms and subject to the conditions contained herein, Seller agrees to sell
      to
      Buyer or, at Buyer’s election, an Affiliate of Buyer, and Buyer agrees to
      purchase or, at Buyer’s election, cause an Affiliate of Buyer to purchase, from
      Seller at the Closing (as such term is defined in Section 3 hereof), free and
      clear of all Encumbrances (except for Permitted Encumbrances), all of Seller’s
      rights, assets and properties set forth on Schedule
      1.1
      hereto,
      whether situated (the “Purchased Assets”). Subject to the terms of this
      Agreement, Buyer is purchasing the equipment and inventory included in the
      Purchased Assets on an “as-is” and “where-is” basis without warranty as to its
      condition, including but not limited to defects whether apparent or latent,
      but
      subject in all respects to a warranty from Seller to Buyer that Seller has
      good,
      marketable and valid title to all such assets free and clear from all liens,
      claims, security interests and Encumbrances of any kind.

     

    1.2 Names
      Following the Closing.
      Seller
      shall amend its articles of organization so as to change its name to a name
      which is not, in the reasonable judgment of Buyer, confusingly similar to the
      name “Premium Reeled Tubing” immediately following the Closing, and Seller shall
      not thereafter use such name or any names confusingly similar thereto. As soon
      as reasonably practicable after the Closing, Seller shall provide to Buyer
      a
      file-stamped copy of the amendment to Seller’s articles of organization as filed
      with the Secretary of State of the State of Louisiana evidencing such
      change.

     

    
      
         

      

      
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    1.3 Documentation.
      In
      order to effectuate the sale, conveyance, transfer and assignment contemplated
      by Section 1.1 hereof, Seller shall execute and deliver on the Closing Date
      all
      such bills of sale, assignments, consents and other documents or instruments
      of
      conveyance, transfer or assignment as shall be necessary or appropriate to
      vest
      or confirm in Buyer marketable title to all right, title and interest of Seller
      in and to all of the Purchased Assets, all of which documents shall be in form
      and substance satisfactory to counsel for Buyer.

     

    1.4 Retained
      Liabilities.
      Notwithstanding anything else to the contrary in this Agreement, Buyer does
      not
      hereby and shall not assume or in any way undertake to pay, perform, satisfy
      or
      discharge any liabilities of Seller or any of its Affiliates existing before,
      on
      or after the Closing Date or arising out of any transactions entered into,
      or
      any state of facts existing, before, on or after the Closing Date, whether
      or
      not related to or arising out of any of the Purchased Assets (the “Retained
      Liabilities”). Without limiting the foregoing, the term “Retained Liabilities”
shall include all of the following:

     

    1.4.1 Affiliate
      Liabilities.
      Liabilities, including accounts or notes payable, of Seller (i) to any
      Affiliate; (ii) for or in connection with any dividends, distributions,
      redemptions, or security rights with respect to any security of Seller; (iii)
      to
      indemnify Seller’s officers, directors, employees or agents; (iv) for unpaid
      bonuses; or (v) arising out of any transaction affecting Seller or obligations
      incurred by Seller’s members, managers, officers, directors, employees or agents
      after the Closing.

     

    1.4.2 Balance
      Sheet Liabilities.
      All
      liabilities included in the Financial Statements or that were incurred since
      the
      date of the Financial Statements, including all of Seller’s trade accounts
      payable and accrued liabilities.

     

    1.4.3 Liabilities
      under Agreement.
      Liabilities expressly identified elsewhere in this Agreement as being the
      responsibility of Seller.

     

    1.4.4 Taxes.
      Liabilities for any Taxes of Seller, whether or not by reason of, or in
      connection with, the transactions contemplated by this Agreement, including
      (i)
      any Taxes arising as a result of Seller’s operation of the Business or ownership
      of the Purchased Assets prior to the Closing Date, (ii) any Taxes that will
      arise as a result of the sale of the Purchased Assets pursuant to this
      Agreement, and (iii) any deferred Taxes of Seller of any kind.

     

    1.4.5 Indebtedness.
      Liabilities of Seller for or arising out of any indebtedness for borrowed
      money.

     

    1.4.6 Benefit
      Plans.
      Liabilities to, under or with respect to any benefit plan (i) maintained or
      sponsored by Seller or any of its Affiliates, (ii) with respect to which Seller
      or any of its Affiliates has or may have liability or is obligated to
      contribute, (iii) that otherwise covers any of the current or former employees
      of Seller or any of its Affiliates or their beneficiaries, or (iv) as to which
      any current or former employees of Seller or any of its Affiliates or their
      beneficiaries participated or were entitled to participate or accrue or have
      accrued any rights, or with respect to the administration of any such benefit
      plan, or relating to payroll, workers’ compensation liabilities, unemployment
      benefits, disability and occupational diseases of or with respect to employees
      or former employees of Seller or any of its Affiliates, or under any employment,
      severance, retention, change of control or termination agreements with any
      employee of Seller or any of its Affiliates, or arising out of or relating
      to
      any employee grievance whether or not the affected employees are hired by
      Buyer.

    
      
         

      

      
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    1.4.7 Employment
      Matters.
      Liabilities under any employment agreement between Seller or any of its
      Affiliates, on one hand, and any current or former employees of Seller or any
      of
      its Affiliates, on the other hand, or any liabilities of Seller to pay any
      wages, commissions, bonuses, vacation pay, sick pay or other compensation of
      any
      kind to any of its current or former employees.

     

    1.4.8 Legal
      Proceedings.
      Liabilities relating to any pending or threatened legal proceedings that exist
      on the Closing Date and any legal proceedings that arise after the Closing
      Date
      that relate to transactions entered into, or any state of facts existing, on
      or
      before the Closing Date.

     

    1.4.9 Penalties
      and Fines.
      Liabilities, including penalties, fines, levies and assessments, arising out
      of
      any violation or breach of, or noncompliance with, any Contracts, Governmental
      Approvals or legal requirements by Seller or any other person acting as agent
      for or on behalf of Seller.

     

    1.4.10 Environmental
      Matters.
      Liabilities of Seller arising out of or relating to (i) any violation of or
      noncompliance with any Environmental Law occurring on or prior to the Closing
      Date by Seller or any other person for whose conduct Seller is legally
      responsible, (ii) the ownership or operation of the facilities by Seller on
      or
      prior to the Closing Date, including the migration of any such condition after
      the Closing Date, (iii) the presence of any Contaminant at the facilities on
      or
      prior to the Closing Date as a result of Seller’s actions or omissions, (iv) any
      hazardous activity conducted by Seller or any other person acting as agent
      for
      or on behalf of Seller, (v) any Release by Seller or any other person
      acting as agent for or on behalf of any of the Seller on any other property,
      and
      (vi) any environmental remedial action required to be taken by
      Seller.

     

    1.4.11 Product
      Liability.
      Liabilities for products liability for all products leased, sold, shipped,
      distributed, assembled or manufactured by, or any services provided by, Seller
      on or prior to the Closing Date.

     

    1.4.12 Negligence.
      Losses
      arising from legal liabilities for negligent acts by Seller on or prior to
      the
      Closing Date.

     

    1.4.13 Post-Closing
      Activities.
      Liabilities based on acts or omissions of Seller occurring after the Closing
      Date.

     

    1.4.14 Affiliate
      Liabilities.
      Liabilities of any of the members, officers, directors or Affiliates of Seller
      or its Affiliates.

     

    
      
         

      

      
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    2. Purchase
      Price.

     

    2.1 Purchase
      Price.
      The
      aggregate purchase price (the “Purchase Price”) for the Purchased Assets shall
      be the amount of Forty Four Million Two Hundred Thousand Dollars ($44,200,000)
      (the “Purchase Price”). Such Purchase Price shall be payable by Buyer on the
      Closing Date (i) by delivery by Buyer of the sum of Forty Million Six Hundred
      Fifty Thousand Dollars ($40,650,000) to Seller in immediately available funds
      as
      of the Closing Date by wire transfer to the bank account designated in writing
      by Seller, less the amount directly paid to the Bank pursuant to the terms
      of
      the Payoff Letter as referred to in Section 2.5, and
      (ii)
      by issuance to Seller of the number of shares of AMCOL Common Stock equal to
      (x)
      $3,550,000 divided by (y) the Determination Date Market Price of AMCOL Common
      Stock. For purposes of this Agreement, “Determination Date Market Price” of
      AMCOL Common Stock shall mean the weighted average of the high and low daily
      sales price of AMCOL Common Stock over the period of twenty trading days ending
      on the business day four business days before the Closing Date, as reported
      by
      the New York Stock Exchange. Any share calculations pursuant to this Agreement
      shall be rounded to the closest whole number.

     

    2.2 [Not
      Used.]

     

    2.3 Payment
      by Seller to Buyer for Repairs at Harvey Facility.
      At the
      Closing, Seller shall pay to Buyer by wire transfer of immediately available
      funds to an account designated by Buyer an amount equal to the bid attached
      hereto as Schedule 2.3
      for
      concrete repairs at Seller’s facility in Harvey Louisiana so that such facility
      can be used for its intended purposes.

     

    2.4 Payment
      by Seller to Buyer for Allocated Ad Valorem Taxes.
      At the
      Closing, Seller shall pay to Buyer by wire transfer of immediately available
      funds to an account designated by Buyer the amount set forth on Schedule 2.4
      which
      represents Seller’s estimated allocated portion of ad valorem taxes (and real
      estate taxes payable under the terms of its lease agreements) for 2008. After
      such payment is received, the Buyer will be responsible for the actual Ad
      Valorem taxes for Harvey Louisiana and Parker County Texas owed for
      2008.

     

    2.5 Payment
      of a Portion of the Purchase Price Directly to the Bank.
      In
      accordance with the terms of the Payoff Letter referred to in Section 7.2 of
      this Agreement, Seller hereby authorizes and directs Buyer to pay at Closing
      from the cash portion of the Purchase Price directly to the Bank for the account
      of Seller all amounts set forth on the Payoff Letter. All such amounts paid
      directly to the Bank shall be deducted from the portion of the cash Purchase
      Price otherwise payable to Seller.

     

    2.6 Reimbursement
      for Certain Expenses.
      At
      Closing, Buyer shall reimburse Seller for the expenses set forth on Schedule
      2.6.

     

    2.7 Netting
      of Certain Payments.
      The
      parties agree that certain payments on the Closing Date will be netted as
      provided in this Section such that a single net wire transfer will be made
      from
      Buyer to Seller on the Closing Date. Specifically, on the Closing Date, Buyer
      shall wire transfer to Seller the amount of the cash portion of the Purchase
      Price (net of the payoff amount to the Bank which Buyer shall wire transfer
      directly to the Bank in accordance with the Payoff Letter), plus
      the
      amount of reimbursement set forth in Section 2.6, minus
      the
      amounts of payments set forth in Sections 2.3 and 2.4. The parties shall agree
      to prepare and initial on the Closing Date a closing statement showing the
      net
      reconciliation. 

     

    
      
         

      

      
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    3. Closing.

     

    3.1 Time.
      The
      consummation of the transactions contemplated by this Agreement (the “Closing”)
      shall take place at 10:00 A.M. CDT on May 15, 2008 (the “Closing Date”)
      following the satisfaction or waiver by the applicable party of each of the
      conditions set forth in Section 7 at the offices of Premium Reeled Tubing,
      LLC, 11864 Highway 308, Larose, LA. On the Closing Date, Seller shall sell,
      transfer, assign, convey and deliver to Buyer the Purchased Assets, Buyer shall
      pay the Purchase Price as described in Section 2 and the parties shall deliver
      the agreements, certificates and other documents required to be delivered
      pursuant to the terms of this Agreement.

     

    3.2 Further
      Assurances.
      If at
      any time after the Closing Date, Buyer shall consider or be advised that any
      further deeds, assignments or other instruments, documents or assurances or
      any
      other acts are necessary, desirable or proper (a) to vest, perfect or confirm,
      of record or otherwise, in Buyer, the title to the Purchased Assets, free and
      clear of all Encumbrances, or (b) otherwise carry out the purposes of this
      Agreement, Seller agrees to execute and deliver all such deeds, assignments,
      instruments, documents, make such assurances and do all acts reasonably
      necessary, desirable or proper to vest, perfect and confirm title to such
      Purchased Assets in Buyer, free and clear of all Encumbrances, and otherwise
      to
      carry out the purposes of this Agreement.

     

    4. Representations
      and Warranties of Seller.
      Seller
      represents and warrants to Buyer as follows:

     

    4.1 Authority.
      Seller
      has all requisite power and authority, corporate or otherwise, to enter into
      this Agreement and to carry out its obligations hereunder. The execution,
      delivery and performance of this Agreement and the consummation of the
      transactions contemplated hereby have been duly authorized by all necessary
      corporate action on the part of Seller. This Agreement has been duly executed
      and delivered by Seller. This Agreement constitutes, and all other agreements,
      documents and instruments to be executed and delivered by Seller pursuant hereto
      will constitute, the legal, valid and binding obligations of Seller, enforceable
      against Seller in accordance with their terms (subject, as to the enforcement
      of
      remedies, to general principles of equity and to bankruptcy, insolvency and
      similar laws affecting creditors’ rights generally).

     

    4.2 Organization,
      Power and Qualification.
      Seller
      is a limited liability company duly organized, validly existing and in good
      standing under the laws of the State of Louisiana, and has all requisite
      corporate power and authority to own or hold under lease its properties and
      assets and to carry on its business as now conducted. 

     

    4.3 No
      Violation.
      Neither
      the execution and delivery of this Agreement, nor the consummation of the
      transactions contemplated hereby will constitute a violation of, or be in
      conflict with, any term or provision of the articles of organization or
      operating agreement or other constituent document of Seller or constitute a
      violation of, or be in conflict with, or result in a cancellation of, or
      constitute a default under, or create (or cause the acceleration of the maturity
      of) any debt, obligation or liability affecting, or result in the creation
      or
      imposition of any Encumbrance upon any of Seller’s assets under, (a) any
      judgment, decree, order, regulation or rule of any court or governmental
      authority of which Seller has Knowledge; (b) any statute, law or regulation;
      or
      (c) any contract, agreement, indenture, lease or other commitment to which
      either Seller or any of the members of Seller are a party or by which they
      or
      the assets of Seller are bound (or cause any change in the rights or obligations
      of any party under any such contract, agreement, indenture, lease or
      commitment).

    
      
         

      

      
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    4.4 Consents.
      No
      consent of, or notice to, any federal, state or local authority, or, to the
      Knowledge of Seller, any private person or entity, is required to be obtained
      or
      given by Seller in connection with the execution, delivery or performance of
      this Agreement or any other agreement or document to be executed, delivered
      or
      performed hereunder by Seller, or for the assignment of any Contract to Buyer,
      or to enable Buyer to continue to conduct the Business after the Closing in
      the
      manner in which it is currently conducted; provided, however, that the consent
      of the Harvey Landlord is required for the assignment of the Harvey Lease
      Agreement, the consent of the Springtown Landlord is required for the assignment
      of the Springtown Lease Agreement, and the consent of each counterparty to
      a
      master service agreement is required for the assignment of such master service
      agreement.
      The
      parties agree that Buyer shall be responsible for obtaining any consents as
      Buyer desires for the assignment of the master service agreements.

     

    4.5 Financial
      Statements.
      Attached hereto as Schedule 4.5
      are true
      and correct copies of the following financial statements (the “Financial
      Statements”):

     

    (a) the
      balance sheets of Seller, together with the related statements of income, at
      and
      for the fiscal years ended December 31, 2006 and 2007; and

     

    (b) the
      balance sheets of Seller, together with the related statements of income, at
      and
      for the months ended January 31, 2008 and February 29, 2008.

     

    To
      the
      Knowledge of Seller, each of the balance sheets included in the Financial
      Statements fairly present the assets, liabilities and financial condition of
      Seller and the Business as of the dates thereof, and such statements of
      operations included in the Financial Statements fairly present the results
      of
      operations for the periods therein referred to, all in accordance with GAAP
      (as
      modified in the manner set forth on Schedule
      4.5)
      consistently applied throughout the periods involved.

     

    4.6 Undisclosed
      Liabilities.
      To the
      Knowledge of Seller, Seller does not have any indebtedness, liabilities or
      obligations (direct or indirect, contingent or absolute, matured or unmatured)
      of any nature whatsoever arising in connection with the Business, whether
      arising out of contract, tort, statute or otherwise which are not reflected,
      reserved against or given effect to in the Financial Statements, except
      liabilities and obligations incurred in the ordinary course of business since
      the date of the Financial Statements which are the same nature as those set
      forth on the Financial Statements, and there is no basis for assertion against
      Seller of any liabilities or obligations not adequately reflected, reserved
      against or given effect to in the Financial Statements.

     

    4.7 Absence
      of Certain Changes.
      Except
      as disclosed in Schedule 4.7,
      since
      December 31, 2007, there has not been: (a) any adverse change in the condition
      (financial or otherwise) of the properties, assets, liabilities, results of
      operation or prospects of the Business; (b) any damage, destruction or loss
      (whether or not covered by insurance) affecting the properties, assets,
      liabilities, financial condition, results of operations or prospects of the
      Business; (c) any increase in the compensation, commissions or perquisites
      payable or to become payable by Seller to any director, officer, employee,
      or
      agent thereof, or any payment of any bonus, profit sharing or other
      extraordinary compensation to any Seller employee (other than any such increase
      or payment paid or to become payable in the ordinary course of business
      consistent with past practices); (d) any change in any of the accounting methods
      or practices followed by Seller or any change in depreciation or amortization
      policies or rates theretofore adopted; (e) any cancellation of any debts owed
      to
      or claims held by or on behalf of Seller; (f) any actual or threatened
      termination of any business relationships or material agreements between Seller
      and any of its customers and suppliers; or (g) any sale, lease, abandonment
      or
      other disposition of any real property, or, other than in the ordinary course
      of
      business, of any machinery, equipment or other properties, or any intangible
      assets utilized in the Business.

    
      
         

      

      
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    4.8 Taxes.

     

    4.8.1 All
      Tax
      Returns required to be filed by Seller through the date hereof have been, and
      as
      to Tax Returns required to be filed through the Closing Date will be, timely
      filed with the appropriate Governmental Authorities in all jurisdictions in
      which such Tax Returns are required to be filed (provided, however, that Seller
      has filed an extension for federal and state income taxes for 2007), and all
      such Tax Returns are or will be true and correct and prepared in accordance
      with
      applicable Law and properly reflect, or will properly reflect, the Taxes of
      Seller for the periods covered thereby.

     

    4.8.2 All
      Taxes
      due and payable by Seller with respect to all periods prior to and through
      the
      date hereof have been duly and properly computed, reported, fully paid and
      discharged and there are no unpaid Taxes with respect to any period prior to
      and
      through the date hereof which have or could give rise to an Encumbrance on
      the
      properties and assets of Seller, except for current Taxes not yet due and
      payable. 

     

    4.8.3 Neither
      Seller nor any of its officers, directors or agents have received any written
      notice of assessment or proposed assessment by the IRS or any other Governmental
      Authority in connection with any Tax Returns and, to the Knowledge of Seller,
      there are no pending tax examinations of, or tax claims asserted against, Seller
      or its properties. To the Knowledge of Seller, there has been no intentional
      disregard of any Law in the preparation of any Tax Return applicable to Seller.
      Seller has not waived any statute of limitations in respect of Taxes or agreed
      to any extension of time with respect to a Tax assessment or deficiency. No
      written claim has ever been made by a Governmental Authority in a jurisdiction
      where Seller does not pay Taxes or file Tax Returns that Seller is or may be
      subject to Taxes assessed by such jurisdiction.

     

    4.8.4 There
      are
      no Encumbrances of any kind on any of the Purchased Assets arising by reason
      of
      or in connection with any failure of Seller to pay any Taxes.

     

    4.8.5 Seller
      has withheld and paid all Taxes required to have been withheld and paid in
      connection with amounts paid or due and owing to any employee, creditor,
      independent contractor, or other third party and Seller has properly reflected
      the status of all employees and independent contractors in connection therewith
      as required by all applicable Laws.

     

    4.8.6 Seller
      has not waived any statute of limitations in respect of Taxes or consented
      or
      agreed to any extension of time with respect to a Tax assessment or
      deficiency.

     

    4.8.7 Copies
      of
      all income tax returns for or in respect of Seller for the years beginning
      in or
      after January 1, 2005 have heretofore been delivered by Seller to
      Buyer.

     

    4.8.8 Seller
      has not distributed the stock or other equity interests of another person or
      entity, nor had its stock or other equities interests distributed by another
      person or entity, in a transaction that was purported or intended to be governed
      in whole or in part by Section 355 or Section 361 of the
      Code.

     

    
      
         

      

      
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    4.9 Title
      to and Condition of Assets.
      Seller
      is the owner of and has good title to all of the Purchased Assets, free and
      clear of all mortgages, liens, pledges, charges, security interests,
      Encumbrances or other third party interests of any nature whatsoever, except
      as
      set forth on Schedule
      4.9.
      The
      Purchased Assets are in reasonable operating condition and repair, ordinary
      wear
      and tear excepted. The Purchased Assets constitute all of the rights, properties
      and assets, tangible and intangible, real, personal and mixed, in electronic
      form or otherwise, utilized by Seller in the conduct of its Business. None
      of
      the Purchased Assets are owned or controlled by any of the Affiliates or
      members, managers or officers of Seller.

     

    4.10 Real
      Estate Leases.
      Seller
      has provided to Buyer a true, correct and complete copy of the Harvey Lease
      Agreement and the Springtown Lease Agreement. Each of the Harvey Lease Agreement
      and the Springtown Lease Agreement is in full force and effect and constitutes
      a
      legal, valid and binding obligation of Seller and the other parties thereto.
      Neither Seller nor any other party thereto is in default in any respect under
      any such lease or agreement nor has any event occurred which with the passage
      of
      time or giving of notice or both would constitute such a default. To the
      knowledge of Seller, the real property and the buildings thereon utilized by
      Seller in the conduct of the Business do not violate any building, zoning or
      other laws or ordinances, or any agreements, applicable thereto, and no notice
      of any such violation or claimed violation has been received by Seller or any
      of
      its officers, directors or agents. Subject to the consent of the Harvey
      Landlord, Seller is entitled to assign the Harvey Lease Agreement to Buyer
      without the consent, waiver or approval of any other person or entity and such
      transactions will not give any party thereto the right to terminate the
      lease.
      Subject
      to the consent of the Springtown Landlord, Seller is entitled to assign the
      Springtown Lease Agreement to Buyer without the consent, waiver or approval
      of
      any other person or entity and such transactions will not give any party thereto
      the right to terminate the lease. Seller acknowledges and agrees that no other
      real estate leases are being assigned to Buyer under the terms of this Agreement
      and that Buyer shall not be liable for any obligations arising under or in
      connection with any other such real estate lease or the operation of any such
      property.

     

    4.11 Contracts.
      Seller
      has disclosed in writing to Buyer all contracts and agreements that are material
      to the conduct of the Business. Without limiting the foregoing, Schedule
      4.11
      hereto
      sets forth a list of each oral or written contact, agreement, commitment or
      understanding (“Contracts”) in connection or relating to (a) the employment or
      severance of any officer or employee of Seller; (b) the leasing of any personal
      property (including, without limitation, leases for machinery and office
      equipment, furniture, fixtures and vehicles) used in connection with the
      Business; (c) the payment of money or other property in connection with
      machinery and equipment or inventory used in connection with the Business in
      excess of Five Thousand Dollars ($5,000) per annum or in connection with any
      other contract in excess of Five Thousand Dollars ($5,000) per annum by Seller
      or the term of which at any time exceeded one year (including, without
      limitation, vendor supply contracts or customer “blanket” purchase orders); (d)
      the services of dealers, distributors, sales representatives or similar
      representatives in connection with the Business; (e) the ownership, use or
      licensing of any patents, trademarks, trade names, brand names, copyrights,
      inventions, processes, know-how, formulae, trade secrets or other proprietary
      rights in connection with the Business; (f) currently effective warranties
      expressly or impliedly made by Seller in respect of any products manufactured
      or
      sold or services provided by Seller in connection with the Business, and any
      other liability or obligation of Seller to service, repair, maintain, take
      back
      or otherwise do or not do anything in respect to any products, inventory or
      services that has been delivered by Seller or its Affiliates in connection
      with
      the Business; (g) any covenants by or binding Seller not to compete or to
      abide by any confidentiality agreement relating to the Business; or (h) any
      other contract that is material to the Business.

    
      
         

      

      
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    Subject
      to the receipt of appropriate consents, all of the Contracts assigned to Buyer
      under the terms of this Agreement constitute legal, valid and binding
      obligations of Seller and, to the Knowledge of Seller, the other parties
      thereto, are in full force and effect, and neither Seller nor, to the Knowledge
      of Seller, any other party thereto has violated any provision of, or committed
      or failed to perform any act which with notice, lapse of time or both would
      constitute a default under the provisions of any Contract. Correct and complete
      copies of all Contracts disclosed on Schedule 4.11
      have
      been made available to Buyer.

     

    4.12 No
      Default, Violation or Litigation.
      To the
      Knowledge of Seller, Seller is not in violation of any law, regulation or order
      of any court or federal, state, municipal or other governmental department,
      commission, board, bureau, agency or instrumentality (including, without
      limitation, laws, regulations, orders, restrictions and compliance schedules
      applicable to environmental standards and controls, wages and hours, civil
      rights and occupational health and safety) and Seller has not received any
      notice of claimed noncompliance. Except as set forth on Schedule
      4.12,
      there
      are no lawsuits, proceedings, claims or governmental investigations pending
      or
      threatened against or involving Seller or against or involving any of Seller’s
      assets, or against or involving any members, managers, officers or directors
      of
      Seller; and there are no judgments, consents, decrees, injunctions, or any
      other
      judicial or administrative mandates outstanding against Seller or any members,
      managers, officers or directors of Seller related to the Business or
      Seller.

     

    4.13 Insurance.
      Schedule 4.13
      contains
      a description of Seller’s current insurance policies. With respect to Seller and
      the Business, there are no pending insurance claims or workers compensation
      claims. All such policies are (and pending Closing will continue to be) in
      full
      force and effect, and Seller is not in default with respect to any provision
      contained in any insurance policies. Seller has not failed to give any notice
      or
      present any claim thereunder in due and timely fashion, which could adversely
      affect the coverage under such policy or be grounds for termination of such
      policy.
      At no
      time has Seller been denied any insurance or indemnity bond coverage which
      it
      has requested, or received any written notice from or on behalf of any insurance
      carrier presently providing insurance relating to it (i) that insurance rates
      may or will be substantially increased, (ii) that there will be no renewal
      of
      policies presently in effect, or (iii) that material alterations to any of
      the
      properties or business operations of Seller are necessary or required by such
      carrier.

     

    4.14 Employment,
      Labor and Other Relations. 

     

    4.14.1 Seller
      has delivered to Buyer (by way of an e-mail from Steve Valdez to Mike Johnson
      and Greg Norman dated April 21, 2008) a list setting forth the name, job
      classification, and total annual compensation (base salary, bonus and other
      benefits) of each of Seller’s officers, employees, sales representatives and
      consultants. None of such employees is on leave.

     

    
      
         

      

      
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    4.14.2 Seller
      is
      not a party to or is otherwise bound by any contract, agreement or collective
      bargaining agreement with any labor union or organization or other commitment
      respecting employment or compensation of any of its officers, directors, agents,
      consultants or employees, and no employees of Seller are represented by any
      labor union or similar organization. Seller is not aware of any existing or
      threatened labor disturbance by Seller’s employees or of any of Seller’s
      principal suppliers, contractors or customers.

     

    4.14.3 There
      are
      no charges or complaints involving any federal, state or local civil rights
      enforcement agency or court; complaints or citations under the Occupational
      Safety and Health Act or any state or local occupational safety act or
      regulation; unfair labor practice charges or complaints with the National Labor
      Relations Board; or other claims, charges, actions or controversies pending,
      or,
      to the Knowledge of Seller, threatened or proposed, involving Seller and any
      employee, former employee or any labor union or other organization representing
      or claiming to represent such employees’ interests.

     

    4.14.4 To
      the
      Knowledge of Seller, Seller is and has heretofore been in compliance with all
      laws, rules and regulations respecting employment and employment practices,
      terms and conditions of employment and wages and hours, the sponsorship,
      maintenance, administration and operation of (or the participation of its
      employees in) employee benefit plans and arrangements and occupational safety
      and health programs, and Seller is not engaged in any violation of any law,
      rule
      or regulation related to employment, including unfair labor practices or acts
      of
      employment discrimination.

     

    4.14.5 Seller
      has not had a plant closing or mass lay-off (as those terms are defined in
      the
      Worker Adjustment and Retraining Notification Act of 1988) or any similar
      occurrence under any applicable state plant closing law affecting in whole
      or in
      part any facility, operating unit or employee of Seller.

     

    4.15 Employee
      Benefits.
      Seller
      has provided to Buyer true, correct and complete copies of all Benefit Plans
      maintained or sponsored by Seller or with respect to which any current or former
      employees of Seller or their beneficiaries participated. The consummation of
      the
      transactions contemplated by this Agreement will not: (i) entitle any current
      or
      former employee, manager, director or officer of Seller to severance pay,
      unemployment compensation or any other payment under any Benefit Plan maintained
      or sponsored by Seller or with respect to which any current or former employees
      of Seller or their beneficiaries participated or were entitled to participate
      or
      accrue or have accrued any rights; (ii) accelerate the time of payment or
      vesting, or increase the amount of compensation due any such employee, director
      or officer, or trigger the funding (through a grantor trust or otherwise) of
      compensation or benefits under, increase the amount payable or trigger any
      other
      material obligation pursuant to, any of such Benefit Plan or any other
      agreement; or (iii) result in any breach or violation of, or a default under,
      any such Benefit Plans or any other agreement.

     

    4.16 Approvals.
      To the
      Knowledge of Seller, Seller possesses or has applied for all governmental and
      other permits, licenses, consents, certificates, orders, authorizations and
      approvals (the “Approvals”) required to be obtained by Seller, to own or hold
      under lease and operate its properties and assets and to carry on the Business
      as now conducted. Neither Seller nor its members, managers or officers has
      received any notice of proceedings relating to the revocation or modification
      of
      any such Approvals. Seller is operating in compliance with the provisions,
      terms
      and conditions of the Approvals.

     

    
      
         

      

      
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    4.17 Compliance
      with Laws.
      To the
      Knowledge of Seller, the Business has been and continues to be conducted in
      accordance with all Laws and Governmental Orders applicable to the Business,
      and
      Seller is not in violation of any such Law or Governmental Order.

     

    4.18 Environmental
      Matters.

     

    4.18.1 Governmental
      Authorizations.
      To the
      Knowledge of Seller, no Government Approvals are required to be held by Seller
      under any applicable Environmental Law for the ownership, use or operation
      of
      any of the Purchased Assets or any real property used, operated or owned in
      connection with the Business.

     

    4.18.2 Compliance.
      Seller
      is in compliance with all Environmental Laws relating to or otherwise affecting
      the Business and the ownership or operation of the Purchased Assets and all
      real
      property owned, leased or used by Seller in connection with the Business. Seller
      has been in consistent compliance with all Environmental Laws relating to or
      otherwise affecting the Business and the ownership or operation of the Purchased
      Assets and all real property owned, leased or used by Seller in connection
      with
      the Business. The Purchased Assets and all real property owned, leased or used
      by Seller in connection with the Business are capable of consistent and
      continuous compliance with all existing Environmental Laws and to the Knowledge
      of Seller, any new Environmental Law that is scheduled to become effective
      with
      respect to the Business, the Purchased Assets or any real property owned, leased
      or used by Seller in connection with the Business on a date ascertainable at
      Closing, or undergoing modification to enable them to so comply, and the full
      capital cost of any such modifications is reflected in the capital budget for
      the Business. To the Knowledge of Seller, there are no pending or proposed
      new
      Environmental Laws that might adversely affect the Business, the Purchased
      Assets or any real property owned, leased or used by Seller in connection with
      the Business either before or after Closing.

     

    4.18.3 Environmental
      Liability.
      Seller
      is not subject to any liability relating to any Environmental Claim based on
      any
      facts, circumstances or conditions known to Seller that existed on or prior
      to
      the Closing Date. Without limiting the foregoing, Seller is not subject to
      any
      liability based on any facts, circumstances or conditions known to Seller that
      existed on or prior to the Closing Date, as a result of the action or inaction
      of any person, including: (i) the violation or noncompliance with any
      Environmental Law by Seller or any person for whose conduct Seller is or may
      be
      held responsible; (ii) the ownership or operation of, or any condition at
      any real property owned, leased or used by Seller in connection with the
      Business, (iii) the Release, threatened Release or presence of any
      Contaminant at, on or under any real property owned, leased or used by Seller
      in
      connection with the Business; (iv) any hazardous activity conducted by Seller,
      any predecessor or by any other person for whose conduct Seller is or may be
      held responsible; (v) any Release by Seller, any predecessor or any other person
      acting as agent for or on behalf of Seller or any predecessor on any other
      property; (vi) any environmental remedial action required to be taken by Seller
      or any predecessor; (vii) the treatment, storage, transportation or disposal
      of
      any Contaminant at any facility or the arrangement for treatment, storage,
      transportation or disposal of any Contaminant at any facility from which there
      is a Release or threatened Release of Contaminant; and (viii) any of the
      foregoing occurring after the Closing Date that are based on any facts,
      circumstances or conditions existing on or prior to the Closing Date, including
      liabilities created or aggravated due to the migration after the Closing Date
      of
      Contaminant that was Released into the environment on or prior to the Closing
      Date.

     

    
      
         

      

      
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    4.18.4 Treatment,
      Disposal & Releases.
      Seller
      has not treated, stored, recycled or disposed of any Contaminant on any real
      property owned, leased or used by Seller in connection with the Business or
      any
      part of Seller’s facilities in violation of any Environmental Law or in a manner
      that could result in any liability. To the Knowledge of Seller, there is and
      has
      been no Release or threat of Release of any Contaminant at, on or under or
      related to any facility in violation of any Environmental Law or that could
      give
      rise to any liability. There is no Contaminant present in the environment at,
      on
      or under any real property owned, leased or used by Seller in connection with
      the Business in violation of any Environmental Law or that could give rise
      to
      any liability.

     

    4.18.5 Sites
      Used for Contaminant; Transactions with Listed Hazardous Sites.
      Seller
      has not arranged for the treatment or disposal of any Contaminant generated
      at
      the facilities or Purchased Assets or related to the Business, or arranged
      for
      the transportation of any such Contaminant for treatment or disposal, at any
      listed hazardous site.

     

    4.18.6 Existing
      Claims; Certain Regulated Materials.
      Seller
      has not received any written request, and to the Knowledge of Seller no
      unwritten request, for information, notice of claim, demand or other
      notification or communication that Seller is or may be potentially responsible
      with respect to any environment liability, environmental remedial action or
      any
      threatened or actual Release of any Contaminant. There has been no past, and
      there is no pending, or to the Knowledge of Seller contemplated, claim by or
      against Seller under any Environmental Law. Seller has not entered into any
      agreement with any person regarding any Environmental Law, environmental
      remedial action or other environmental liability or expense.

     

    4.18.7 Storage
      Tanks.
      To the
      Knowledge of Seller, there are no underground storage tanks located on any
      real
      property owned, leased or used by Seller in connection with the
      Business.

     

    4.18.8 PCBs
      and Asbestos Containing Materials.
      To the
      Knowledge of Seller, there is no PCB equipment at any of the real property
      owned, leased or used by Seller in connection with the Business. To the
      Knowledge of Seller, there is no regulated asbestos-containing material at
      any
      of the real property owned, leased or used by Seller in connection with the
      Business.

     

    4.19 Product
      Liability; Warranty Liability.
      Seller
      has no outstanding product liability claims or warranty claims asserted in
      writing relating to any products or services provided by Seller. 

     

    4.20 Transactions
      With Affiliates.
      There
      are no contracts or arrangements (formal or informal, written or oral), directly
      or indirectly, between Seller, on the one hand, and any of the members or
      managers of Seller or their family members or Affiliates or any persons
      controlling, under common control with or controlled by Seller, on the other
      hand, relating to the operation of the Business or the Purchased
      Assets.

     

    
      
         

      

      
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    4.21 Principal
      Customers.
      Schedule 4.21
      sets
      forth a separate list of the ten (10) largest customers of Seller in terms
      of
      purchases during the fiscal year ended December 31, 2007, showing in each
      case the approximate total purchases by or from each such customer during such
      period. There has not been any adverse change in the business relationship
      of
      Seller with any such named customer, or any material adverse change in the
      business relationship of Seller with any other customer.

     

    4.22 Certain
      Payments.
      Neither
      Seller nor any member, manager, officer, agent, employee or other person
      associated with or acting for or on behalf of Seller, has directly or indirectly
      (a) made any contribution, gift, bribe, rebate, payoff, influence payment,
      kickback, or other payment to any person, private` or public, regardless of
      form, whether in money, property, or services (i) to obtain favorable treatment
      in securing business, (ii) to pay for favorable treatment for business secured,
      (iii) to obtain special concessions, or for special concessions already
      obtained, for or in respect of Seller or any Affiliate of Seller, (iv) in
      violation of any applicable Law, or (b) established or maintained any fund
      or asset that has not been recorded in the books and records of Seller. Seller
      has at all times been in compliance with all Laws relating to export control
      and
      trade embargoes.

     

    4.23 Brokers.
      No
      agent, broker, investment banker, financial advisor 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 on the basis of any agreement to which Seller, any of its Affiliates,
      or any of the officers, members, managers, shareholders or agents of Seller
      or
      its Affiliates is a party or any act or statement alleged to have been made
      by
      Seller, its Affiliates or any of the officers, members, managers, shareholders
      or agents of Seller or its Affiliates.

     

    4.24 Investment
      Intent.
      Seller
      is acquiring the shares of AMCOL Common Stock pursuant to the terms of this
      Agreement for its own account and not for that of any other person or entity,
      and without a view to or in connection with any distribution thereof which
      is in
      violation of the Securities Act of 1933, as amended (the “Securities Act”) or in
      violation of any applicable state securities laws. Seller and its members have
      such knowledge and experience in financial and business matters as to be capable
      of evaluating the merits and risks of its investment in the AMCOL Common Stock.
      Sellers and its members understand and acknowledge that the AMCOL Common Stock
      to be issued to Seller pursuant to the terms of this Agreement will not have
      been registered under the Securities Act or qualified under any applicable
      state
      securities laws on the date of its issuance and will constitute “Restricted
      Securities” within the meaning of Rule 144 under the Securities Act and
      therefore may not be resold unless registered under the Securities Act or sold
      pursuant to an exemption from registration. The certificate(s) representing
      the
      AMCOL Common Stock acquired by Seller pursuant to this Agreement shall bear
      such
      legend as AMCOL deems necessary or appropriate to comply with the Securities
      Act
      and any other applicable federal and state law. Sellers and its members and
      managers acknowledge receipt (prior to the execution of this Agreement) from
      AMCOL of its Annual Report to Stockholders and Form 10-K for the fiscal year
      ended December 31, 2007, its proxy statement in connection with its annual
      meeting of May 8, 2008 and its Form 8-K dated April 18, 2008. Each of Seller
      and
      its members and managers represent to Buyer and to AMCOL (i) that they have
      reviewed such reports and statements and (ii) that they have been afforded
      the
      opportunity to ask such questions and receive such other information from
      representatives of AMCOL as they deem necessary in order to evaluate Seller’s
      investment in the AMCOL Common Stock.

     

    
      
         

      

      
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    4.25 Disclosure.
      Except
      as expressly set forth in this Agreement and the Schedules, to the Knowledge
      of
      Seller, there are no facts which will or may reasonably be expected to have
      any
      Material Adverse Effect on the value of Seller’s assets or the
      Business.

     

    5. Representations
      and Warranties of Buyer.
      Buyer
      represents and warrants to Seller as follows:

     

    5.1 Authority,
      Binding Agreement.
      Buyer
      has all requisite power and authority to enter into this Agreement, to
      consummate the transactions contemplated hereby and otherwise to carry out
      its
      obligations hereunder. The execution, delivery and performance of this Agreement
      and the consummation of the transactions contemplated hereby have been duly
      authorized by all necessary corporate action on the part of Buyer. This
      Agreement constitutes, and all other agreements and documents to be executed
      and
      delivered by Buyer pursuant hereto will constitute the valid and binding
      agreements of Buyer, enforceable against it in accordance with their terms
      (subject, as to the enforcement of remedies, to general principles of equity
      and
      to bankruptcy, insolvency and similar laws affecting creditors’ rights
      generally).

     

    5.2 Organization,
      Power and Qualification.
      Buyer
      is a corporation duly organized, validly existing and in good standing under
      the
      laws of the State of Delaware, and has all requisite corporate power and
      authority to carry on its business as now conducted.

     

    5.3 No
      Violation.
      Neither
      the execution and delivery of this Agreement, nor the consummation of the
      transactions contemplated hereby will constitute a violation of, or be in
      conflict with, any term or provision of the certificate of incorporation or
      bylaws of Buyer or constitute a default under: (a) any judgment, decree, order,
      regulation or rule of any court or governmental authority binding upon Buyer;
      (b) any statute, law or regulation; or (c) any contract, agreement, indenture,
      lease or other commitment to which Buyer is a party or by which it is bound
      (or
      cause any change in the rights or obligations of any party under any such
      contract, agreement, indenture, lease or commitment).

     

    5.4 Consents.
      No
      consent of, or notice to, any federal, state or local authority, or any private
      person or entity, is required to be obtained or given by Buyer in connection
      with the execution, delivery or performance of this Agreement or any other
      agreement or document to be executed, delivered or performed hereunder by
      Buyer. 

     

    5.5 Brokers.
      No
      agent, broker, investment banker, financial advisor 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 on the basis of any agreement to which Buyer or their Affiliates
      is a
      party or any act or statement alleged to have been made by Buyer or their
      Affiliates.

     

    6. Covenants.
      Seller
      covenants and agrees with Buyer that from the date hereof until the Closing
      or
      termination of this Agreement:

     

    6.1 Conduct
      of Business; No Material Change.
      Except
      as otherwise specifically contemplated by this Agreement, Seller shall conduct
      its business only in the ordinary course and will not, without the prior written
      consent of Buyer, (i) make any change in its business or operations, (ii) make
      any change in the compensation of officers or other key employees of Seller,
      (iii) hire any new employees (other than new hourly employees hired in the
      ordinary course of business on an at will basis), (iv) enter into any material
      contracts or commitments, and (v) enter into any contract or commitment, waive
      any rights, or enter into any other transaction affecting Business other than
      in
      the ordinary course of business and in conformity with past
      practices.

     

    
      
         

      

      
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    Without
      limiting the generality of the foregoing, except as expressly contemplated
      by
      this Agreement, Seller shall not, without the prior written consent of Buyer:
      

     

    (a) transfer
      or license to any person or entity or otherwise extend, amend or modify any
      rights to Seller’s intellectual property rights; 

     

    (b) acquire
      or agree to acquire by merging or consolidating with, or by purchasing an equity
      interest in or a portion of the assets of, or by any other manner, any business
      or any corporation, partnership or other business organization or division,
      or
      otherwise acquire or agree to acquire any assets; 

     

    (c) sell,
      lease, license or otherwise dispose of any of its properties or assets which
      are
      material, individually or in the aggregate, to the business of Seller, except
      for transactions entered into in the ordinary course of business; 

     

    (d) take
      any
      action to (i) increase or agree to increase the compensation payable or to
      become payable to its officers or employees, (ii) grant any severance or
      termination pay to, or enter into any employment or severance agreements with,
      any members, managers, officers, directors, agents or employees (provided,
      however, that this clause shall not prohibit Seller from paying wholly
      discretionary bonuses to certain of its employees immediately after Closing),
      (iii) enter into any collective bargaining agreement, or
      (iv) establish, adopt, enter into or amend in any material respect any
      bonus, profit sharing, thrift, compensation, option, pension, retirement,
      deferred compensation, employment, termination, severance or other plan, trust,
      fund, policy or arrangement for the benefit of any members, managers, directors,
      officers, agents or employees; 

     

    (e) create
      or
      suffer to exist any Encumbrance on any of the Purchased Assets; 

     

    (f) amend
      or
      terminate any contract, agreement or license to which it is a party, except
      in
      the ordinary course of business; 

     

    (g) waive
      or
      release any material right or claim, except in the ordinary course of business;
      

     

    (h) initiate
      any litigation or arbitration proceeding; or 

     

    (i) agree,
      in
      writing or otherwise, to take any of the actions described in paragraphs (a)
      through (h) above, or any action which is reasonably likely to make any of
      Seller’s representations or warranties contained in this Agreement untrue or
      incorrect on the date made (to the extent so limited) or as of the Closing
      Date.

    
      
         

      

      
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    6.2 Maintain
      Business as Going Concern.
      Seller
      will preserve its business organization and keep available, subject to
      employment turnover in the normal course of business, the services of the
      present managers, officers, employees, and agents thereof and will use
      commercially reasonable efforts to preserve the goodwill of its suppliers,
      customers and others having business relations therewith.

     

    6.3 Investigation.
      Seller
      shall allow Buyer and its representatives full access during normal business
      hours to all plants, warehouses, operations, machinery, equipment, inventories,
      property, offices, books, contracts, commitments, records and affairs of Seller
      for the purpose of familiarizing themselves with the operation and conduct
      of
      all aspects of the Business and for the purpose of reasonable inspection,
      examination, audit, counting and copying. Such access shall not unreasonably
      interfere with the operation and conduct of the Business. Buyer agrees to hold
      harmless and indemnify Seller from all claims arising by reason of injury or
      death suffered by Buyer’s representatives in connection with any such
      inspection, excluding any such claims arising by reason of the willful
      misconduct, recklessness or negligence of Seller or any of its
      representatives.

     

    6.4 Preserve
      Accuracy of Representations and Warranties.
      Seller
      will refrain, from taking any action which would render any representation
      or
      warranty contained in Section 4 of this Agreement inaccurate as of the
      Closing Date, except for changes therein specified, permitted or contemplated
      by
      this Agreement.

     

    6.5 Supplements
      to Exhibits.
      From
      time to time prior to the Closing Date, Seller will promptly supplement or
      amend
      any Schedules provided for in this Agreement (i) if any matter arises hereafter
      which, if existing or occurring at or prior to the date of this Agreement,
      would
      have been required to be set forth or described in any such Schedule, or (ii)
      if
      it becomes necessary to correct any information in any such Schedule which
      has
      become inaccurate after the date of this Agreement; provided, however, that
      no
      such supplement or amendment to any Schedule shall be considered in determining
      satisfaction of the closing conditions set forth in this Agreement.

     

    7. Conditions
      to Closing.

     

    7.1 Mutual
      Conditions.
      The
      obligations of each party to consummate the transactions contemplated by this
      Agreement shall be subject to the fulfillment at or prior to the Closing of
      the
      following condition:

     

    7.1.1 No
      Suit.
      No
      suit, action or other proceeding or investigation shall to the best knowledge
      of
      any party hereto be threatened or pending before or by any governmental agency
      or by any third party questioning the legality of this Agreement or the
      consummation of the transactions contemplated hereby in whole or in
      part.

    
      
         

      

      
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    7.2 Conditions
      to Buyer’s Obligations.
      The
      obligations of Buyer to consummate the transactions contemplated by this
      Agreement shall be subject to the fulfillment at or prior to the Closing of
      each
      of the following conditions:

     

    7.2.1 Representations
      and Warranties.
      All
      representations and warranties made by Seller in this Agreement shall be true
      and correct as of the Closing (unless a representation or warranty speaks as
      to
      a stated date, in which case such representation or warranty shall be true
      and
      correct as of such date), and Seller shall have duly performed or complied
      with
      all of the obligations to be performed or complied with by it under the terms
      of
      this Agreement on or prior to the Closing Date, and Seller shall have delivered
      to Buyer a certificate to such effect dated as of the Closing Date.

     

    7.2.2 Consents
      and Approvals.
      All
      authorizations, consents, waivers, approvals or other action required in
      connection with the execution, delivery and performance of this Agreement by
      Buyer and Seller, the
      consummation by such parties of the transactions contemplated hereby and the
      operation by Buyer of the
      Business after the Closing, shall have been obtained.

     

    7.2.3 Instruments
      of Assignment, Transfer and Conveyance.
      Seller
      shall have delivered to Buyer all instruments of assignment, transfer and
      conveyance, and such other Closing documents as shall have been requested by
      Buyer, all in form and substance acceptable to Buyer’s counsel.

     

    7.2.4 No
      Material Change.
      There
      shall have occurred no Material Adverse Effect (whether or not covered by
      insurance) in the assets, financial condition or prospects of the
      Business.

     

    7.2.5 Good
      Standing Certificate.
      Buyer
      shall have received a certificate of legal existence and good standing dated
      on
      or within thirty (30) days prior to the Closing for Seller from the State of
      Louisiana.

     

    7.2.6 Vehicle
      Titles.
      Seller
      shall have delivered title certificates to any motor vehicles included in the
      Purchased Assets, duly executed by Seller (together with any other transfer
      forms necessary to transfer title to such vehicles).

     

    7.2.7 Landlord
      Consents.
      Seller
      shall have delivered to Buyer the written consent from the Harvey Landlord
      to
      the assignment of the Harvey Lease Agreement and the written consent from the
      Springtown Landlord to the assignment of the Springtown Lease Agreement, in
      each
      case in form and substance satisfactory to Buyer.

     

    7.2.8 Charter
      Amendment.
      Seller
      will deliver a copy of a filed certificate of amendment to Seller’s articles of
      organization changing its name to one that does not include the words “Premium
      Reeled Tubing.”

     

    7.2.9 Opinion
      of Seller’s Counsel.
      Seller
      shall have caused to be delivered to Buyer a favorable opinion of Seller’s
      counsel in form and substance satisfactory to Buyer.

     

    7.2.10 Employment
      Agreements.
      Each of
      John Roberts and Robert Coles shall have executed and delivered to Buyer a
      written employment agreement with Buyer in form and substance satisfactory
      to
      Buyer (the “Employment Agreements”).

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

     

    7.2.11 Accredited
      Investor Certifications.
      Each of
      John Roberts and Robert Coles (and any other member of Seller to whom Seller
      intends to distribute any shares of the AMCOL Common Stock) shall have executed
      and delivered to Buyer a certificate in form and substance satisfactory to
      Buyer
      stating that such individual is an accredited investor under Section 501 of
      Reg. D and that any shares of the AMCOL Common Stock acquired by such individual
      in connection with the transactions contemplated by this Agreement are being
      acquired for his own account and not for that of any other person and entity
      and
      without a view to or in connection with any distribution thereof.

     

    7.2.12 Payoff
      Letter.
      Seller
      shall have provided to Buyer a copy of a payoff letter (the “Payoff Letter”)
      from Regions Bank or such other bank as has issued indebtedness to Seller (the
      “Bank”) in form and substance satisfactory to Buyer, in which the Bank agrees
      that upon receipt of a specified amount on the Closing Date, all indebtedness
      of
      Seller to the Bank shall be paid in full and all liens and encumbrances of
      the
      Bank in the assets of Seller shall be released and terminated. The Payoff Letter
      shall further authorize either Buyer or Seller to file UCC termination
      statements with regard to any UCC financing statements filed by the Bank against
      the assets of Seller.

     

    7.2.13 Vehicle
      Liens.
      On the
      day of the Closing, not later than 4:00 p.m. on such date, Seller shall pay
      in
      full all indebtedness secured by vehicles included in the Purchased Assets
      by
      sending checks in appropriate amount by overnight delivery to the lienholders,
      and shall provide to Buyer copies of such checks and evidence of transmittal,
      together with underlying substantiation of pay-off amounts. If an incorrect
      per
      diem amount or other payment is sent to a lienholder, Seller shall promptly
      correct the payment. Seller shall arrange for all notations of liens to be
      deleted from title certificates such that the title certificates can be
      transferred to Buyer free and clear of any liens or lien notations. In the
      event
      that due to logistical reasons a title certificate without such lien notation
      has not been issued or made available as of Closing, Seller will cause such
      title certificate to be transferred to Buyer as soon as possible after Closing.
      

     

    7.2.14 Air
      Liquide Agreement.
      If
      Buyer shall have elected to take an assignment of the Bulk Supply Agreement
      with
      Air Liquide Industrial U.S. LP dated as of 6-1-07, Buyer shall have received
      from Air Liquide consent to such assignment together with such amendments and
      modifications thereto as Buyer shall require.

     

    7.2.15 Consents
      to Orders.
      In the
      event that consent from the manufacturer(s) or other parties is required for
      the
      assignment of pending orders described in Item 9 of Schedule 1.1,
      Buyer
      shall have received such consent(s).

     

    7.2.16 Tax
      Clearances.
      Seller
      shall have received and provided to Buyer tax clearances from Louisiana and
      Texas satisfactory to Buyer.

     

    7.3 Conditions
      to Seller’s Obligations.
      The
      obligations of Seller to consummate the transactions contemplated by this
      Agreement shall be subject to the fulfillment at or prior to the Closing of
      each
      of the following conditions:

     

    7.3.1 Representations
      and Warranties.
      All
      representations and warranties made by Buyer in this Agreement shall be true
      and
      correct as of the Closing, and Buyer shall have duly performed or complied
      with
      all of the obligations to be performed or complied with by it under the terms
      of
      this Agreement on or prior to the Closing Date, and Buyer shall have delivered
      to Seller a certificate to such effect dated as of the Closing
      Date.

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

     

    8. Termination.

     

    8.1 Termination
      of Agreement.
      This
      Agreement and the transactions contemplated hereby may be terminated at any
      time
      prior to Closing, as follows:

     

    8.1.1 Mutual
      Consent.
      By
      mutual consent of Buyer and Seller.

     

    8.1.2 Breach.
      By
      Buyer or by Seller by reason of the breach by the other in any material respect
      of any of the other party’s representations, warranties, covenants or agreements
      contained in this Agreement.

     

    8.1.3 Respective
      Conditions.
      By
      Buyer or by Seller if, as of May 15, 2008, the conditions precedent to
      their respective obligations contained in Sections 7.2 or 7.3 hereof have not
      been met in all material respects through no fault of the terminating
      party.

     

    8.1.4 Mutual
      Conditions.
      By
      Buyer or by Seller if, as of May 15, 2008, the conditions described in
      Section 7.1 shall not have been fulfilled through no fault of the
      terminating party.

     

    8.2 Effect
      of Termination.
      Termination of this Agreement pursuant to Section 8.1 shall terminate all
      obligations of the parties hereunder and this Agreement shall become void and
      have no effect without any liability on the part of any party; provided,
      however, that termination shall not relieve any party defaulting or breaching
      this Agreement prior to such termination from any liability for such default
      or
      breach.

     

    9. Indemnification.

     

    9.1 By
      Seller.
      Seller
      agrees to indemnify and hold harmless Buyer and its Affiliates against any
      Damages suffered by Buyer or its Affiliates as a result of:

     

    (a) any
      breach by Seller in the performance of its obligations under this Agreement
      and
      the agreements or other matters provided for herein;

     

    (b) any
      material and/or intentional inaccuracy in or breach of any representations
      or
      warranties made by Seller in this Agreement or any document, certificate,
      schedule or exhibit delivered by Seller in accordance with the provisions of
      this Agreement;

     

    (c) any
      liability of Buyer or its Affiliates for liabilities and obligations of Seller
      which are Retained Liabilities;

     

    (d) any
      liabilities, damages or expenses arising by reason of the ownership or operation
      by Seller of the Purchased Assets before the Closing;

     

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

     

    (e) any
      liabilities, damages or expenses arising by reason of any claims asserted
      against Seller by any of its members or managers; 

     

    (f) any
      fees,
      expenses or other payments incurred or owed by Seller or any of its Affiliates
      to any broker or similar party retained or employed by it in connection with
      the
      transactions contemplated by this Agreement;

     

    (g) the
      failure of Seller to comply with statutory provisions relating to bulk sales
      and
      transfers, if applicable;

     

    (h) any
      liabilities or benefits payable to the employees of Seller by reason of the
      consummation of the transaction contemplated by this Agreement; or

     

    (i) any
      claim
      made by a third party which would entitle Buyer or its Affiliates to
      indemnification pursuant to Sections 9.1(a), (b), (c), (d), (e), (f), (g) or
      (h).

     

    9.2 By
      Buyer.
      Buyer
      agrees to indemnify and hold harmless Seller and its Affiliates against any
      Damages suffered by Seller or its Affiliates as a result of:

     

    (a) any
      breach by Buyer in the performance of its obligations under this Agreement
      and
      the separate agreements provided for herein;

     

    (b) any
      inaccuracy in or breach of any representations or warranties made by Buyer
      in
      this Agreement or any document, certificate, schedule or exhibit delivered
      by
      Buyer in accordance with the provisions of this Agreement;

     

    (c) any
      liabilities, damages or expenses arising by reason of the operation or use
      by
      Buyer of the Purchased Assets after the Closing;

     

    (d) any
      fees,
      expenses or other payments incurred or owed by Buyer to any broker or similar
      party retained or employed by Buyer in connection with the transactions
      contemplated by this Agreement; or

     

    (e) any
      claim
      made by a third party which would entitle Seller or its Affiliates to
      indemnification pursuant to Sections 9.(a), (b), (c) or (d).

     

    9.3 Method
      of Asserting Claims.
      The
      party claiming indemnification hereunder (“Indemnitee”) will give prompt written
      notice (“Notice of Claim”) to the party from whom such indemnification is sought
      (“Indemnitor”) of any claim (“Claim”) which it discovers or of which it receives
      notice after the Closing and which might give rise to a Claim by it against
      the
      Indemnitor under Section 9 hereof, stating the nature, basis and (to the extent
      known or reasonably estimated) amount thereof; provided, however, that failure
      to give such prompt notice shall not jeopardize the right of any Indemnitee
      to
      indemnification unless such failure shall have materially prejudiced the ability
      of Indemnitor to defend or minimize the amount of such Claim.

     

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

     

    In
      the
      case of any Claim or suit by a third party or by any governmental body, or
      any
      legal, administrative or arbitration proceeding with respect to which Indemnitor
      may have liability under this Section 9, Indemnitor shall be entitled to
      participate therein, and to the extent desired by it to assume the defense
      thereof, if Indemnitor gives written notice of its election to assume the
      defense thereof within sixty (60) days of its receipt of the Notice of Claim.
      If
      Indemnitor gives such notice to Indemnitee of the election to assume the defense
      thereof, the Indemnitor will not be liable to Indemnitee for any legal or other
      expenses incurred by the Indemnitee in connection with the defense thereof,
      following the receipt of such notice provided for above, unless Indemnitor
      does
      not actually assume the defense thereof following notice of such election.
      The
      parties will render to each other such assistance as may reasonably be required
      of each other at Indemnitor’s expense, in order to insure proper and adequate
      defense of any such suit, Claim or proceeding. If Indemnitor actually assumes
      the defense of the Indemnitee, Indemnitor shall have sole control of the defense
      and negotiations for the settlement or compromise of such Claim, Indemnitee
      will
      not make any settlement of any Claim which might give rise to liability of
      the
      Indemnitor under the indemnity agreements contained in this Section without
      the
      written consent of Indemnitor, and Indemnitor shall not agree to make any
      settlement of any Claim which would not include the unconditional release of
      Indemnitee without the written consent of Indemnitee, which consent shall not
      be
      unreasonably withheld, delayed or conditioned. 

     

    9.4 Nature
      and Survival of Representations.
      The
      representations and warranties made by Seller under this Agreement shall survive
      the Closing until, in the absence of fraud or intentional misrepresentation,
      the
      first (1st) anniversary of the Closing Date, except that (i) any representations
      and warranties made with respect to Taxes or Environmental Claims shall survive
      until the statute of limitations applicable to any such matter, as the same
      may
      be extended by waiver or agreement, shall have expired; and (ii) representations
      and warranties set forth in Sections 4.1, 4.2, 4.3, 4.4, and the first sentence
      of 4.10 hereof and the obligation of Seller to indemnify and hold Buyer and
      its
      Affiliates harmless with respect to liabilities and obligations not assumed
      by
      Buyer, shall survive the Closing indefinitely. Representations and warranties
      shall not terminate for purposes of any Claim made by Buyer or its Affiliates
      prior to the expiration of the respective representation or warranty. All
      statements made by or on behalf of Seller herein or in applicable schedules,
      or
      in any other document, instrument, certificate, schedule or list delivered
      to
      Buyer or its Affiliates hereunder shall be deemed representations and warranties
      of Seller relied upon by Buyer regardless of any investigation made by or on
      behalf of Buyer, and shall not be affected in any respect by such
      investigation.

     

    10. Other
      Agreements.

     

    10.1 Noncompete;
      Confidentiality; Nonsolicitation.
      In
      connection with the acquisition of substantially all of the assets of Seller
      and
      all of the goodwill of Seller by Buyer, for a period ending two (2) years after
      the Closing Date, neither Seller nor its Affiliates shall engage in a business
      which competes with the Business or any part thereof, directly or indirectly,
      personally or as an employee, owner, consultant, manager, associate, partner,
      agent or otherwise, or by means of any corporate or other device, anywhere
      in
      the world (the “Territory”) including, without limitation, those parishes of
      Louisiana set forth in Schedule
      10.1
      hereto;
      nor shall Seller or its Affiliates for such period and in the Territory solicit
      orders, directly or indirectly from any customer of Buyer or Seller, for any
      product or service substantially similar to those sold, manufactured or
      distributed by Seller as conducted on the Closing Date, personally or as an
      employee, owner, consultant, manager, associate, partner, agent or otherwise,
      or
      by means of any corporate or other device; nor shall Seller or its Affiliates
      for such period and in the Territory solicit for employment any employee of
      Seller who continued employment with Buyer after the Closing
      Date.

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    Seller
      further covenants and agrees that it shall not use for its own benefit or the
      benefit of any of its Affiliates, or divulge to any third party, any
      confidential information or trade secrets concerning the Business and acquired
      by Buyer hereunder. As used
      herein, confidential information shall consist of all information, knowledge
      or
      data relating to the Business (including without limit all information relating
      to inventions, production methods, customer and prospective customer lists,
      prices and trade practices) which is not in the public domain or otherwise
      published or publicly available.

     

    This
      Section 10.1 shall not be construed to prohibit the ownership by Seller of
      not
      more than one percent (1%) of the capital stock of any corporation having a
      class of securities registered pursuant to the Exchange Act of 1934, as
      amended.

     

    Seller
      acknowledges and agrees that the restrictions contained in this Section 10.1
      are
      reasonable and necessary to protect the legitimate interests of Buyer in
      connection with its purchase of all of the goodwill of Seller, do not cause
      Seller undue hardship, and that any violations of any provision of this Section
      10.1 will result in irreparable injury to Buyer and that, therefore, Buyer
      shall
      be entitled to preliminary and permanent injunctive relief, without having
      to
      post any bond, in any court of competent jurisdiction and to an equitable
      accounting of all earnings, profits and other benefits arising from such
      violation, which rights shall be cumulative and in addition to any other rights
      or remedies to which Buyer may be entitled. The restrictions set forth in this
      Section 10.1 are in addition to any restrictions set forth in any other
      agreement between Buyer and Seller or any other party.

     

    10.2 Accounts
      Receivable.
      Seller
      agrees that after Closing, it will give Buyer 15 days written notice before
      it
      commences litigation to collect any accounts receivable of Seller in existence
      as of the Closing Date. Buyer shall have the right but not the obligation to
      purchase any such Account Receivable from Seller for the total amount of such
      Account Receivable. Any such purchase by Buyer shall be without any warranty
      by
      Seller, except as to title.

     

    10.3 Transfer
      Taxes.
      Buyer
      shall be responsible for paying all costs of transferring vehicle titles for
      vehicles included in the Purchased Assets.

     

    10.4 Publicity.
      Each
      party shall keep this terms of this Agreement and its contents strictly
      confidential, except as required by any applicable Legal Requirements; provided,
      however, that notwithstanding anything to the contrary herein, this Agreement
      shall not be deemed to limit or restrict Buyer or its affiliates in any manner
      from filing a Form 8-K concerning this Agreement and the transactions
      contemplated hereby with the U.S. Securities and Exchange Commission and
      attaching a full copy of this Agreement to such filing to the extent determined
      by Buyer or its affiliates to be necessary or desirable in connection with
      the
      conduct of its business. Prior to the Closing, the parties shall consult
      concerning the means by which the employees, customers, and suppliers and others
      having dealings with Seller will be informed of the contemplated
      transactions.

     

    10.5 Certain
      Transitional Matters.
      After
      the Closing, (a) Seller shall cooperate with and assist Buyer and its
      authorized representatives in order to provide, to the extent reasonably
      requested by Buyer, an efficient transfer of control of the Purchased Assets
      and
      to avoid any undue interruption in the activities and operations of the
      Business, and (b) Seller shall promptly transfer and deliver to Buyer any
      property that is included in the Purchased Assets received by
      Seller.

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    10.6 Maintenance
      of Books and Records.
      Each of
      Buyer and Seller shall preserve for three (3) years from the Closing Date all
      records possessed or to be possessed by such party relating to any of the
      Purchased Assets or to the employees of the Business, to the extent that they
      relate to periods prior to the Closing Date. After the Closing Date, where
      there
      is a legitimate purpose, and upon prior reasonable written request specifying
      the need therefor, the requesting party and its representatives shall have
      reasonable access during regular business hours to such records at its own
      expense to the extent relating to the Purchased Assets or the employees of
      the
      Business who were employees of Seller prior to the Closing Date.

     

    10.7 Severance,
      Change of Control and Termination Payments.
      Seller
      shall (a) pay, perform and discharge any and all severance payments and
      other liabilities with respect to employees of Seller that result from the
      transfer of the Purchased Assets hereunder or the termination by Seller of
      its
      employees in connection therewith, whether or not described as a “change of
      control,” “termination,” “plant closing,” “mass layoff” or similar term,
      including, without limitation, all liabilities arising under the Worker
      Adjustment and Retraining Notification Act of 1988 or any similar state statute,
      and (b) indemnify and hold harmless Buyer and its directors, officers, and
      Affiliates from and against any and all Damages, that any of the aforesaid
      may
      suffer or incur by reason of or relating to any severance payments and other
      liabilities referred to in clause (a) above.

     

    10.8 Certain
      Employment Matters.
      Prior
      to Closing, Buyer may offer, or cause any Affiliate purchasing the Purchased
      Assets to offer, employment to certain employees (all of such employees
      accepting employment with Buyer as of the Closing, the “Transferring
      Employees”); provided that any offer of employment to such employees will be
      made subject to the satisfactory completion of Buyer’s employment process,
      including without limitation, completion of a background check and drug screen
      for each such employee and the execution by such employee of Buyer’s standard
      documents including confidentiality agreement and covenants not to compete
      and
      employment at-will acknowledgement forms. Seller shall cooperate with Buyer
      in
      the dissemination of such offers of employment together with any appropriate
      related documentation such as applications for employment, tax and benefit
      forms
      and the like and provide Buyer with reasonable assistance in the collection
      thereof.
      Upon or
      prior to Closing, Seller shall pay all wages, commissions, bonuses and other
      compensation of any kind owing to its employees for all periods prior to
      Closing.

     

    10.9 Consents
      of Third Parties.
      The
      parties acknowledge that the consent of the Harvey Landlord is required for
      the
      assignment of the Harvey Lease Agreement and that the consent of the Springtown
      Landlord is required for the consent of the Springtown Lease Agreement. Prior
      to
      Closing, Seller shall use its best efforts to obtain the written consent of
      the
      Harvey Landlord and the Springtown Landlord (which consents shall include an
      acknowledgment and agreement from the respective landlords, that the tenant
      is
      not in breach or default under the terms of the respective lease agreements,
      and
      that Buyer shall only be responsible for obligations under the respective lease
      agreements arising after the Closing Date) to such assignment, in form and
      substance satisfactory to Buyer. If Seller for any reason fails to obtain such
      written consent from the Harvey Landlord and the Springtown Landlord prior
      to
      May 15, 2008, Buyer may, at its sole option at any time thereafter, terminate
      this Agreement without any further obligation or liability to Seller. The
      parties acknowledge that assignment of the master service agreements require
      the
      consent of the counterparties thereto, and that Buyer shall be solely
      responsible for obtaining such consents to the extent Buyer desires to do
      so. 

     

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    10.10 On-Going
      Work.
      With
      respect to projects constituting part of the Business commenced by Seller prior
      to the Closing Date but not completed as of the Closing Date (i) Buyer shall
      be
      entitled to complete all such projects starting on the Closing Date, and shall
      be entitled to invoice the customer for all products and services provided
      with
      respect to such projects on the Closing Date and thereafter, (ii) Seller shall
      be entitled to invoice the customer for all products and services provided
      with
      respect to such projects prior to the Closing Date, (iii) Seller and Buyer
      shall
      cooperate in all reasonable respects to facilitate a smooth transition of such
      ongoing work and Seller shall provide to Buyer such information as is necessary
      or useful in the transition of such business, (iv) Buyer shall indemnify and
      hold Seller harmless from any liabilities arising by reason of products and
      services provided by Buyer on or after the Closing Date, and (v) Seller shall
      indemnify and hold Buyer harmless from any liabilities arising by reason of
      products and services provided by Seller prior to the Closing Date.

     

    10.11 March
      Financials.
      Seller
      has delivered to Buyer true and correct copies of the financial statements
      of
      Seller consisting of balance sheet and related statement of income at and for
      the month ended March 31, 2008. Seller covenants and agrees that such financial
      statements shall, to the Knowledge of Seller, fairly present the assets,
      liabilities and financial condition of Seller and the Business as of the date
      thereof, and the statements of operations therein shall fairly present the
      results of operations for the period therein referred to, all in accordance
      with
      GAAP, as modified in the manner set forth on Schedule
      4.5,
      consistent with prior periods.

     

    11. General
      Provisions.

     

    11.1 Waiver
      of Terms.
      Any of
      the terms or conditions of this Agreement may be waived at any time by the
      party
      or parties entitled to the benefit thereof but only by a written instrument
      signed by the party or parties waiving such terms or conditions.

     

    11.2 Amendment
      of Agreement.
      This
      Agreement may be amended, supplemented or interpreted at any time only by
      written instrument duly executed by each party hereto.

     

    11.3 Payment
      of Expenses.
      Regardless of whether the Closing shall occur, Seller shall pay all expenses
      incurred by or on behalf of Seller and Buyer shall pay all expenses incurred
      by
      or on behalf of Buyer in connection with the preparation, execution and delivery
      of this Agreement and the other agreements and documents referred to herein
      and
      the consummation of the transactions contemplated hereby and
      thereby.

     

    11.4 Contents
      of Agreement; Binding Nature.
      This
      Agreement, the other agreements and documents to be delivered by the parties
      as
      provided herein set forth the entire understanding of the parties with respect
      to the subject matter hereof and thereof. Any previous agreements or
      understanding between the parties regarding such subject matter are merged
      into,
      and superseded by, the foregoing agreements. All representations, warranties,
      covenants, terms and conditions of this Agreement shall be binding upon and
      inure to the benefit of and be enforceable by the successors and assigns of
      the
      parties hereto.

     

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

     

    11.5 Notices.
      All
      notices, requests, demands and other communications required or permitted to
      be
      given hereunder shall be by hand delivery; certified or registered mail, return
      receipt requested; telecopier; or air courier; to the parties set forth below.
      Such notices shall be deemed given: at the time personally delivered, if
      delivered by hand or by courier; at the time received if sent certified or
      registered mail; and when receipt acknowledged by receiving telecopy equipment,
      if telecopied.

     

    
      	
              If
                to Buyer:

            	
              CETCO
                Oilfield Services Company

              1500
                W. Shure

              Arlington
                Heights, IL 60004

              Attn:
                President

              Telephone
                No.: 847-392-5800

              Telecopier
                No.: 847-506-6150

            
	 	 
	
              With
                a copy to:

            	
              Locke
                Lord Bissell & Liddell LLP

              111
                South Wacker Drive

              Chicago,
                Illinois 60606

              Attn:
                James W. Ashley, Jr.

              Telephone
                No.: 312.443.1873

              Telecopier
                No.: 312.896.6573

            
	 	 
	
              If
                to Seller:

            	
              Premium
                Reeled Tubing, L.L.C.

              P.
                O. Box 1580, Larose, LA 70373

              Attn:
                Stephen Williams

              Telephone
                No.: 985-798-7066

              Telecopier
                No.: 985-798-7619

            
	 	 
	
              With
                a copy to:

            	
              Peter
                J. Rousse

              16210
                West Main

              Cut
                Off, LA 70345

              Telephone
                No.: 985-632-6473

              Telecopier
                No.: 985-632-2877

            

    

     

    11.6 Severability.
      In the
      event that any one or more of the provisions contained in this Agreement shall
      be invalid, illegal or unenforceable in any respect for any reason, the
      validity, legality and enforceability of any such provision in every other
      respect and of the remaining provisions of this Agreement shall not be in any
      way impaired.

     

    11.7 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.

     

    11.8 Construction.
      The
      headings of the Sections and the subsections of this Agreement are inserted
      for
      convenience of reference only and shall not constitute a part hereof. The terms
      “hereof,” “herein” and “hereunder” and terms of similar import are references to
      this Agreement as a whole and not to any particular provision of this Agreement.
      Common
      nouns and pronouns shall be deemed to refer to the masculine, feminine, neuter,
      singular and plural, as the identity of the person may in the context require.
      The use of the words “include,” “including” or variations thereof in this
      Agreement shall be by way of example rather than by limitation. The parties
      hereto acknowledge that all parties participated equally in the drafting and
      negotiation of this Agreement and were represented by counsel of their own
      choosing in connection therewith. Consequently, this Agreement shall be
      construed without referencing to any rule of law, which provides that
      ambiguities in a contract are to be resolved against the drafter
      thereof.

    
      
         

      

      
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    11.9 Governing
      Law.
      This
      Agreement shall be governed, construed and enforced in accordance with the
      internal laws of the State of Louisiana, excluding any choice of law rules
      that
      may direct the application of the laws of another jurisdiction. The parties
      covenant and agree that any and all disputes regarding this Agreement shall
      be
      brought and maintained in the federal and state courts sitting in
      Louisiana.

     

    11.10 Instruments
      of Further Assurance.
      Each of
      the parties hereto agrees, upon the request of any of the other parties hereto,
      from time to time to execute and deliver to such other party or parties all
      such
      instruments and documents of further assurance or otherwise as shall be
      reasonable under the circumstances, and to do any and all such acts and things
      as may reasonably be required to carry out the obligations of such requested
      party hereunder.

     

    11.11 Brokers
      or Finders.
      Each of
      Buyer and Seller represents, as to itself and its Affiliates, that no agent,
      broker, investment banker, financial advisor 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.
      Each of Buyer and Seller agrees to indemnify and hold the other harmless from
      and against any and all claims, liabilities or obligations with respect to
      any
      such fees, commissions or expenses asserted by any person on the basis of any
      act or statement alleged to have been made by such party or its
      Affiliate.

     

    11.12 No
      Third Party Beneficiaries.
      Nothing
      in this Agreement is intended nor shall it be construed to give any person,
      firm, corporation or other entity, other than the parties hereto and their
      successors and assigns, any right, remedy or claim under or
      in
      respect of this Agreement or any provisions hereof.

     

    [Signature
      Page Follows]

    
      
         

      

      
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    IN
      WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto
      as
      of the day and year first above written.

     

    CETCO
      OILFIELD SERVICES COMPANY

    

    

    By:
      /s/ Michael R. Johnson

    Name:
      Michael R. Johnson

    Title:
      President

    

    

     

    PREMIUM
      REELED TUBING, L.L.C.

    

    

    By:
      /s/ Stephen J. Williams

    Name:
      Stephen J. Williams

    Title:
      Member

    
      
         

      

      
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    APPENDIX
      OF DEFINITIONS

     

    The
      following definitions shall be applicable for purposes of the Agreement except
      as otherwise specifically provided to the contrary in the text of the
      Agreement.

     

    “Affiliates”
of
      a
      person means any person or entity controlling, controlled by or under common
      control with that person or any family members of such person. “Control” for
      this purpose means the possession, directly or indirectly, of the power to
      direct or cause the direction of the management and policies of a person,
      whether through the ownership of voting securities or interests, by contract,
      or
      otherwise.

     

    “AMCOL”
means
      AMCOL International Corporation, a Delaware corporation.

     

    “AMCOL
      Common Stock”
means
      the $0.01 par value common stock of AMCOL.

     

    “Approvals”
means
      all governmental and other permits, licenses, consents, certificates, orders,
      authorizations and approvals.

     

    “Benefit
      Plan”
means
      any plan, as defined in ERISA Section 3(3) and any other obligation,
      arrangement, or customary practice to provide benefits to present or former
      directors, employees or agents of Seller.

     

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

     

    “Contaminant”
means
      material or substance which is or may be hazardous or toxic, or which could
      otherwise pose a risk to health, safety or the environment or which is
      regulated, prohibited or controlled pursuant to or the subject of any
      Environmental Laws, including any hazardous substance as defined in 42 U.S.C.
§
9601(14), solid waste as defined in 42 U.S.C. § 6903(27), pollutant or
      contaminant as defined in 42 U.S.C. § 9601(33), or any other waste, pollutant,
      hazardous waste (as defined in 42 U.S.C. § 6903(5), petroleum (as defined in 42
      U.S.C. §§ 6911(2)(B), petroleum-based substance, by-product, breakdown product
      or waste, oil (as defined in 33 U.S.C. § 2701(23), special waste, sludge (as
      defined in 42 U.S.C. § 6903(26A), or any constituent of any such substance or
      waste and specifically including polychlorinated biphenyls, asbestos,
      asbestos-containing material, urea formaldehyde or radioactive
      material.

     

    “Damages”
means
      any liability, loss, damage, claim, deficiency, fee or expense, including
      without limitation court costs and reasonable attorneys’ fees and
      costs.

     

    “Encumbrance”
means
      any mortgage, lien, pledge, charge, security interest, covenant, condition
      or
      restriction of record, easement, encumbrance or other third party claim or
      interest of any nature whatsoever.

     

    “Environment”
means
      surface waters, groundwaters, surface water sediment, soil, subsurface strata,
      ambient air and other environmental medium.

     

    
      
         

      

      
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    “Environmental
      Claims”
means
      any and all actions, suits, demands, demand letters, claims, liens, notices
      of
      noncompliance or violation, notices of liability or potential liability,
      investigations, proceedings, consent orders or consent agreements relating
      in
      any way to any Environmental Law or any Contaminant or arising from any alleged
      injury to threat of injury to health, safety or the Environment.

     

    “Environmental
      Law”
means
      any Law, rule or regulation, now or hereafter in effect and as amended, and
      any
      judicial or administrative interpretation thereof, including any judicial or
      administrative order, consent decree or judgment, relating to pollution or
      protection of the Environment, health, safety or natural resources or to the
      use, handling, transportation, treatment, storage, disposal, release or
      discharge of Contaminants.

     

    “Environmental
      Permit”
means
      any permit, Approval, identification number, license, or other authorization
      required to operate the Business under any applicable Environmental
      Law.

     

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

     

    “ERISA
      Affiliate”
means
      any other person that, together with Seller, would be treated as a single
      employee under Section 414 of the Code.

     

    “GAAP”
means
      accepted accounting principles generally accepted in the United States as
      promulgated by the Financial Accounting Standards Board, Securities and Exchange
      Commission and other similar bodies.

     

    “Governmental
      Approvals”
means
      other permits, licenses, consents, certificates, orders, authorizations and
      approvals issued by any governmental authority required to operate the
      Business.

     

    “Governmental
      Authority”
means
      any United States federal, state or local or any non-U.S. government,
      governmental, regulatory or administrative authority, state enterprise, agency
      or commission or any court, tribunal, or judicial or arbitral body.

     

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

     

    “Harvey
      Landlord”
means
      Abshire Investments, LLC.

     

    “Harvey
      Lease Agreement”
means
      that certain Net Commercial Lease Agreement dated May 15, 2007 by and between
      Harvey Landlord and Seller relating to the property at 1400 First Avenue,
      Harvey, Louisiana.

     

    “Knowledge”
The
      phrase “to the Knowledge of Seller” or similar phrases means those facts and
      circumstances known to any of the managers, members or officers of Seller or
      facts which should have been known by said individuals given their position
      with
      Seller, in each case after due inquiry by such persons to those employees of
      Seller who in the ordinary course of their duties would be reasonably likely
      to
      have knowledge of the facts or circumstances in question. 

     

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

     

    “Law”
means
      any federal, state, local or non-U.S. statute, law, ordinance, regulation,
      rule,
      code, order, other requirement or rule of law.

     

    “Material
      Adverse Effect”
means
      any adverse change in, or effect on, or any series of such changes or effects,
      material to the
      operations, financial
      condition, prospects, assets
      or
      liabilities
      of
      Seller or the Business, taken as a whole.

     

    “Permitted
      Encumbrances”
means
      (i) statutory liens for Taxes and other charges and assessments by any
      Governmental Authority that are not yet due and payable and properly accrued
      in
      the Financial Statements, (ii) mechanic’s, materialmen’s, and similar liens that
      can be satisfied by a payment of cash to the lien holders provided that such
      amounts are reflected as current liabilities in the Financial Statements, and
      (iii) as to real property interests, including leasehold interests, any
      easements, rights-of-way, servitudes, permits, restrictions, and minor
      imperfections or irregularities in title that do not, individually or in the
      aggregate, interfere with the ability to own or use such real property or
      operate Seller’s business on such real property.

     

    “Release”
means
      disposing, discharging, injecting, spilling, leaking, leaching, dumping,
      emitting, escaping, emptying, seeping, placing, and the like into or upon any
      land or water or air or otherwise into the Environment.

     

    “Springtown
      Landlord”
means
      Drake Rentals, Inc.

     

    “Springtown
      Lease”
means
      that certain Net Commercial Lease Agreement dated February 1, 2008 by and
      between Springtown Landlord and Seller relating to the property at 3098 West Hwy
      199, Springtown, Texas.

     

    “Tax”
or,
      collectively, “Taxes,”
means
      any and all federal, state, local or foreign taxes of any country or
      governmental body, assessments and other governmental charges, duties,
      impositions and liabilities, including taxes based upon or measured by gross
      receipts, income, profits, sales, use and occupation, and value added, ad
      valorem, transfer, franchise, withholding, payroll, recapture, employment,
      excise, property taxes and all other taxes and assessments of whatever nature
      (including, without limitation, any built-in gains tax under Section 1374
      of the Code), together with all interest, penalties and additions imposed with
      respect to such amounts and related thereto and any obligations under any
      agreements or arrangements with any other person with respect to such amounts
      and including any liability for taxes of a predecessor entity.

     

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

    
      
         

      

      
        30

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