EFTA01202827

ASSET PURCHASE AGREEMENT by and among ARSP LLC, AS ACQUISITION LLC and ARTSPACE MARKETPLACE, INC. Dated as of August 12, 2014 DeeN: USI:9538113v10 EFTA01202827 ASSET PURCHASE AGREEMENT AGREEMENT, dated as of August 12, 2014 (this "Agreement"), by and among ARSP LLC, a Delaware limited liability company ("Parent"), AS Acquisition LLC, a Delaware limited liability company and a wholly-owned subsidiary of Parent ("Buyer"), and Artspace Marketplace, Inc., a Delaware corporation (the "Company"). RECITALS The board of directors of the Company has approved and declared advisable this Agreement and the sale of substantially all of the assets and liabilities of the Company to Buyer upon the terms and subject to the conditions set forth in this Agreement. Accordingly, in consideration of the mutual representations, warranties, covenants and agreements contained in this Agreement, the parties to this Agreement, intending to be legally bound, agree as follows: ARTICLE I THE SALE Section 1.1 The Sale. Upon the terms and subject to the conditions set forth in this Agreement, upon the Closing contemplated below (a) the Company shall sell, transfer and assign to Buyer all of its Assets except the Excluded Assets, and Buyer shall assume from the Company all of the Assumed Liabilities (together, the "Sale"), and (b) Buyer shall pay to the Company, as consideration for the Sale, $4.75 million, payable in cash as provided below (the "Consideration"). As used in this Agreement, (a) "Assets" means all of the Company's right, title and interest in assets (including inventory, equipment, supplies and other personal property), properties (including Intellectual Property), whether real, personal or mixed, tangible and intangible, of every kind and description, whether or not reflected on the books and records of the Company and wherever located, and (without limiting the foregoing) including the contracts and agreements listed on Exhibit A (the "Assumed Contracts"), all accounts receivable accrued after the Closing, all customer lists, all books and records (financial and otherwise) relating to the foregoing; (b) "Intellectual Pro en " means (x) all patents, trademarks, copyrights, trade secrets, software (including the URL, source code, object code and documentation related thereto) and Internet assets; (y) all licenses, sublicenses and other agreements or permissions related to the property or rights described in clause (x); and (z) all rights to sue at law or in equity for any infringement or other impairment of any of the property or rights described in clause (x), including the right to collect damages and proceeds therefrom; in each case as used in connection with or otherwise related to the business of the Company and as such property and rights exist in all jurisdictions throughout the world, to the extent owned by, licensed to, or otherwise used by the Company (and, for the avoidance of doubt, including all rights in respect of the Company's name); 1 Dad!: USI:953111Bv10 EFTA01202828 (c) "Excluded Assets" means (r) all accounts receivable of the Company accrued on or prior to the Closing, (s) cash and cash equivalents of the Company, (t) all advisor agreements, (u) prepayments and retainers on deposit with the Company's counsel, (v) claims or rights for tax refunds, estimated tax payments or prepayments, (w) all rights under or in respect of the Company's insurance policies (including refunds with respect to any prepayments) and claims thereunder, (x) all rights under or in respect of this Agreement, (y) corporate minute books, stock transfer books and similar records of the Company, and tax records and other records which the Company is required by law to retain (except that Buyer shall be entitled to a copy thereof if and to the extent it may be useful to its operation of the business following the Closing Date) and (z) documents that relate to the Company's corporate existence, this Agreement and/or the Sale; and (d) "Assumed Liabilities" means (x) all obligations under the Assumed Contracts, excluding commissions or other obligations that in accordance with the applicable Assumed Contract relate to revenues received by the Company on or prior to the Closing but including liabilities (if any) arising from non-compliance with non-assignment provisions of the Assumed Contracts, and (y) other accounts payable due in the ordinary course of business for current periods listed on Exhibit A, which are either invoiced to the Company or directly billed to the Company's corporate American Express card after August 14, 2014. For the avoidance of doubt, Assumed Liabilities do not include (A) any liabilities of the Company for income or other taxes or any liabilities for taxes for any period (or portion thereof) ending on or before the Closing Date, (B) any obligations arising under or in connection with the negotiation, preparation and performance of this Agreement and the Sale (except for transfer taxes arising as a result thereof), (C) any obligations or liabilities to lenders to the Company or any of the holders of its shares of common or preferred stock (in each case in their capacity as such), (D) any obligations or liabilities (including severance payments) of the Company associated with the services of employees of the Company rendered prior to the Closing, including any severance costs associated with any employees of the Company that do not become employees of Buyer in accordance with Section 4.8 ("Severance Costs"), (E) any liabilities in relation to any suits, actions or proceedings that are pending or have been threatened in writing as of the Closing (of which none have been disclosed to Buyer), (F) unless expressly assumed herein, liabilities to the extent actually covered by the Company's insurance policies and (G) any commissions or other obligations payable under Assumed Contracts with respect to revenues received on or prior to the Closing. Section 1.2 Closing. Subject to the satisfaction or waiver of all of the conditions to closititcontained in ARTICLE V, the closing of the Sale (the "Closing") shall take place (a) at 10:00 M. on August 14, 2014, provided that the conditions (other than any conditions that by their nature are to be satisfied at the Closing) have been satisfied or waived in accordance with this Agreement by such date, or (b) at such other time or on such other date as Parent and the Company may agree. The date on which the Closing occurs is referred to as the "Closing Date." At the Closing, (1) Buyer shall assume all of the Company's rights and obligations under the Assumed Contracts pursuant to a bill of sale and assignment and assumption agreement in form to be agreed (a "Bill of Sale") and (2) the other Assets shall be sold, conveyed, transferred, assigned and delivered pursuant to the Bill of Sale. Buyer will pay all sales, transfer, or other similar tax, if any, due in connection with the Sale of the Assets to Buyer under this Agreement. Buyer understands that any inventory, Assets, and business of the 2 Dad!: USI:95311113v10 EFTA01202829 Company is transferred "as is", "where is" and without any other representation or warranty of any nature whatsoever, except as provided below. Section 1.3 Deposit. On the date hereof, Buyer shall pay a cash deposit of $500,000 (the "Deposit") to Pillsbury Winthrop Shaw Pittman LLP (the "Escrow Agent"), which will separately agree with each of the parties to this Agreement to hold and dispose of the Deposit in accordance with the terms of this Agreement. At the Closing, the Deposit shall be released by the Escrow Agent and used to pay the Consideration in accordance with Section 1.4. Section 1.4 Payment of Consideration.. Upon the Closing: (a) the Escrow Agent shall release the Deposit to the Company; and (b) Buyer shall pay the Company the balance of the Consideration by wire transfer of immediately available funds. Section 1.5 Application of Consideration to Discharge Debt and Other Liabilities of the Company. (a) On the Closing Date the Company shall pay to each of the creditors listed on Exhibit B the amount necessary to discharge the Company's indebtedness to each such creditor in full. (b) Following the Closing, the Company shall timely pay (i) all commissions payable under the Assumed Contracts with respect to revenues received on or prior to the Closing and (ii) all other current accounts payable other than those that are Assumed Liabilities. (c) No distribution shall be made to any holders of the outstanding shares of the Company in respect of the shares until all payments referred to in Section 1.5(a) and Section 1.5(b) as of the Closing have been fully discharged, or appropriate cash reserves have been made, by the Company. Section 1.6 Allocation of Consideration. The Consideration shall be allocated among the Assets other than the Excluded Assets in a manner to be determined by Buyer. The Company and Buyer agree to use the allocations determined pursuant to this Section 1.6 for all tax purposes, including those matters subject to Section 1060 of the Code, as amended, and the regulations thereunder. ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY The Company represents and warrants to Parent and Buyer that: Section 2.1 Organization and Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. 3 Dad!: USI:95311113v10 EFTA01202830 The Company has the requisite power and authority to own, lease and operate its assets and properties and to carry on its business as now conducted. Section 2.2 Corporate Authorization. The Company has all necessary corporate power and authority to enter into this Agreement and, subject to adoption of this Agreement by the affirmative vote of (i) the holders of a majority of the outstanding shares of the Company (common stock, Series A preferred stock and Series B preferred stock voting together as a class), (ii) the holders of a majority of the outstanding common stock, (iii) the holders of a majority of the outstanding shares of the Series A preferred stock and Series B preferred stock, voting together as a single class, and (iv) the holders of a majority of the outstanding shares of the Series B preferred stock (collectively, the "Requisite Company Votes"), to consummate the Sale and other transactions contemplated by this Agreement. (a) The board of directors of the Company has unanimously adopted resolutions: (i) approving and declaring advisable the Sale, this Agreement and the transactions contemplated by this Agreement; (ii) declaring that it is in the best interests of the stockholders of the Company that the Company enters into this Agreement and consummate the Sale upon the terms and subject to the conditions set forth in this Agreement; (iii) directing that adoption of this Agreement be submitted to a vote at a meeting of the stockholders of the Company (or action by written consent in lieu thereof) for approval by the Requisite Company Votes; and (iv) recommending to the stockholders of the Company that they adopt this Agreement. (b) The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary corporate action on the part of the Company, subject to the Requisite Company Votes. Section 2.3 Enforceability. This Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms. Section 2.4 Liabilities. Exhibit B sets forth a true and complete list of all outstanding indebtedness of the Company, including the name of the creditor and amount required to be paid by the Company to discharge such indebtedness in full upon the Closing. To the knowledge of the Company, there are no material liabilities or obligations of any kind, whether accrued, contingent or otherwise (collectively, "Liabilities") of the Company, other than (i) the indebtedness set forth on Exhibit B, (ii) executory obligations under contracts, (iii) Severance Costs, (iv) up to $750,000 of accounts payable arising in the ordinary course on or prior to the Closing and(v) other Liabilities arising in the ordinary course of business of the Company after the Closing Date. Section 2.5 Voting. The Requisite Company Votes are the only votes of the holders of any class or series of the capital stock of the Company necessary (under the Company organizational documents, the DGCL, other applicable laws or otherwise) to approve and adopt this Agreement, the Sale and the other transactions contemplated by this Agreement. 4 DeeN: USI:9538113v10 EFTA01202831 Section 2.6 No Other Representations and Warranties. Except for the representations and warranties contained in this Article II (including the related portions of the Exhibit B), neither the Company nor any other person has made or makes any other express or implied representation or warranty, either written or oral, on behalf of the Company, including any representation or warranty as to the accuracy or completeness of any information regarding the Assets furnished or made available to Buyer and its representatives or as to the future revenue, profitability or success of the Business, or any representation or warranty arising from statute or otherwise in law. ARTICLE III REPRESENTATIONS AND WARRANTIES OF PARENT Parent represents and warrants to the Company that: Section 3.1 Organization and Power. Each of Parent and Buyer is a limited liability company duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. Each of Parent and Buyer has the requisite power and authority to own, lease and operate its assets and properties and to carry on its business as now conducted. Section 3.2 Corporate Authorization. Each of Parent and Buyer has all necessary corporate power and authority to enter into this Agreement and to consummate the transactions contemplated by this Agreement. The execution and delivery and performance of this Agreement by each of Parent and Buyer and the consummation by each of Parent and Buyer of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary corporate action on the part of Parent and Buyer. Section 3.3 Enforceability. This Agreement has been duly executed and delivered by each of Parent and Buyer and constitutes a legal, valid and binding agreement of each of Parent and Buyer, enforceable against each of them in accordance with its terms. Section 3.4 Sufficiency of Funds. Buyer has sources of immediately available funds to enable it to make payment of the Consideration and consummate the transactions contemplated by this Agreement. Section 3.5 Independent Investigation. Each of Parent and Buyer have conducted their own independent investigation, review and analysis of the Assets, and acknowledges that it has been provided adequate access to the personnel, properties, assets, premises, books and records, and other documents and data of the Company for such purpose. Parent and Buyer acknowledge and agree that: (a) in making its decision to enter into this Agreement and to consummate the transactions contemplated hereby, Parent and Buyer have relied solely upon their own investigation and the express representations and warranties of the Company set forth in Article II of this Agreement; and (b) neither the Company nor any other Person has made any representation or warranty as to the Company, the Assets or this Agreement, except as expressly set forth in Article II of this Agreement. 5 DeeN: USI:9538113v10 EFTA01202832 ARTICLE IV COVENANTS Section 4.1 Public Announcements. Buyer and the Company shall consult with each other before issuing any press release or otherwise making any public statements about this Agreement or any of the transactions contemplated by this Agreement. Neither Buyer nor the Company shall issue any such press release or make any such public statement prior to such consultation, except to the extent required by applicable laws, in which case that party shall use its reasonable commercial efforts to consult with the other party before issuing any such release or making any such public statement. Section 4.2 Fees, Costs and Expenses. Whether or not the Sale is consummated, all expenses (including those payable to representatives) incurred by any party to this Agreement or on its behalf in connection with this Agreement and the transactions contemplated by this Agreement ("Expenses") shall be paid by the party incurring those Expenses, except as otherwise provided in Section 6.5. Section 4.3 Interim Operations. From the date of this Agreement through the Closing Date, the Company will continue to operate its business in the ordinary course, and shall (without limiting the foregoing) apply all cash on hand and received to pay its expenses (including payroll and related taxes) in the ordinary course. Section 4.4 Change of Corporate Name. Promptly following the Closing the Company shall change its name to a corporate name not including the word "ArtSpace" or any variation thereof. Section 4.5 Payments Received after Closing. If and to the extent that on or after the Closing the Company receives payment under or in respect of any accounts receivable accrued after the Closing, Assumed Contracts, or other Assets transferred to Buyer hereunder, the Company will hold such amounts in trust for Buyer's account and promptly forward such amounts to Buyer's bank account (as notified to the Company from time to time). If and to the extent that on or after the Closing Buyer or Parent receives payment under or in respect of any Excluded Assets, Buyer or Parent (as applicable) will hold such amounts in trust for the Company's account and promptly forward such amounts to the Company's bank account (as notified to Buyer from time to time). Section 4.6 Books and Records. In order to facilitate the resolution of any claims made against or incurred by the Company prior to the Closing, or for any other reasonable purpose, for a period of two (2) years after the Closing, Buyer shall: (a) retain the books and records (including personnel files) relating to periods prior to the Closing in a manner reasonably consistent with the prior practices of the Company; and 6 DeeN: USI:9530713v10 EFTA01202833 (b) upon reasonable notice, afford the Company's representatives reasonable access (including the right to make, at the Company's expense, photocopies), during normal business hours, to such books and records. In order to facilitate the resolution of any claims made by or against or incurred by Parent or Buyer after the Closing, or for any other reasonable purpose, for a period of two (2) years after the Closing, the Company shall: (c) retain the books and records (including personnel files) of the Company which relate to the Assets, Assumed Liabilities and its operations for periods prior to the Closing; and (d) upon reasonable notice, afford Buyer's representatives reasonable access (including the right to make, at Buyer's expense, photocopies), during normal business hours, to such books and records. Neither Parent nor Buyer, on the one hand, nor Seller, on the other hand, shall be obligated to provide the other party/ies with access to any books or records (including personnel files) pursuant to this Section 4.6 where such access would violate any law. Section 4.7 Bulk Sales Laws. The parties hereby waive compliance with the provisions of any bulk sales, bulk transfer or similar laws of any jurisdiction that may otherwise be applicable with respect to the sale of any or all of the Assets to Buyer. Section 4.8 Employees. Buyer shall deliver to each of the employees of the Company listed on Exhibit C an employment offer letter on terms no less favorable than those in place with the Company as of the date hereof. Section 4.9 Further Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective affiliates to, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and the other transaction documents. Section 4.10 Orderly Wind-down of the Company. Following the Closing, Buyer and its affiliates will provide reasonable administrative support to the Company in connection with the Company's wind-down of operations, discharge of obligations and liquidation, at no charge to the Company, and will also pay one-half of the legal expenses associated with such wind-down and liquidation (such one-half not to exceed $12,500). ARTICLE V CONDITIONS Section 5.1 Conditions to Each Party's Obligation to Effect the Sale. The obligation of each party to this Agreement to effect the Sale is subject to the satisfaction or 7 DeeN: USI:9538113v10 EFTA01202834 waiver on or prior to the Closing Date of the condition that this Agreement shall have been duly adopted by the Requisite Company Votes. Section 5.2 Conditions to Obligations of Buyer. The obligations of Buyer to effect the Sale are also subject to the satisfaction (or waiver by Buyer) on or prior to the Closing Date of the following conditions: (a) Representations and Warranties. The representations and warranties of the Company set forth in this Agreement shall be true and correct in all material respects, as though made on and as of the Closing Date. (b) Performance of Obligations. The Company shall have performed in all material respects all obligations required to be performed by it under this Agreement at or prior to the Closing Date. (c) Officer's Certificate. Buyer shall have received a certificate, signed by the chief executive officer of the Company, certifying as to the matters set forth in Section 5.2(a) and Section 5.2(b). (d) FIRPTA Certificate. Parent shall have received a certificate stating that the Company is not a "foreign person" within the meaning of Section 1445 of the Internal Revenue Code of 1986, as amended, which certificate shall set forth all information required by, and otherwise be executed in accordance with, Treasury Regulations Section 1.1445-2(b)(2). Section 5.3 Frustration of Closing Conditions. None of the parties to this Agreement may rely on the failure of any condition set forth in this ARTICLE V to be satisfied if such failure was caused by such party's failure to use commercially reasonable efforts to consummate the Sale and the other transactions contemplated by this Agreement. ARTICLE VI TERMINATION AND WAIVER Section 6.1 Termination by Mutual Consent. This Agreement may be terminated at any time prior to the Closing by mutual written consent of Buyer and the Company. Section 6.2 Termination by Either Buyer or the Company. This Agreement may be terminated by either Buyer or the Company by written notice at any time prior to the Closing: (a) if the Sale has not been consummated by the close of business on August 15, 2014, except that the right to terminate this Agreement under this clause shall not be available to any party to this Agreement whose failure to fulfill any of its obligations has been a principal cause of, or resulted in, the failure to consummate the Sale by such date; (b) if the Requisite Company Votes have not been obtained; or 8 DeeN: USI:9538113v10 EFTA01202835 (c) if any law or court order prohibits consummation of the Sale. Section 6.3 Termination by Buyer. This Agreement may be terminated by Buyer by written notice at any time prior to the Closing if: (a) the Company breaches any of its representations, warranties, covenants or agreements contained in this Agreement, which breach (i) would give rise to the failure of a condition set forth in Section 5.2(a) or Section 5.2(b) and (ii) has not been cured by the Company within 2 business days after the Company's receipt of written notice of such breach from Buyer; or (b) Buyer's due diligence review of the Company and its business reveals, prior to Closing, that any of the Company's database, assets and liabilities, or technology platform materially and adversely differs from what has been represented in writing to Buyer in the information listed on Exhibit D, taken as a whole. Section 6.4 Effect of Termination. If this Agreement is terminated pursuant to this ARTICLE VI, it shall be of no further force and effect, with no liability on the part of any party to this Agreement (or any stockholder, director, officer, employee, agent or representative of such party), except that (a) if such termination results from the willful (i) failure of any party to perform its obligations or (ii) breach by any party of its representations or warranties contained in this Agreement, then such party shall be liable for any liabilities incurred or suffered by the other parties as a result of such failure or breach; and (b) Section 4.2, this Section 6.4, Section 6.5 and ARTICLE VII of this Agreement shall survive any termination of this Agreement. Section 6.5 Expenses and Deposit Following Termination. Except as set forth in this Section 6.5 and Section 1.2, all Expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid in accordance with the provisions of Section 4.2. The Escrow Agent shall release the Deposit: (a) to the Company if this Agreement is validly terminated by the Company pursuant to Section 6.2(a) as a result of a material breach of this Agreement by Buyer; or (b) to Buyer if this Agreement is validly terminated pursuant to Section 6.1, Section 6.2(b), Section 6.2(c) or Section 6.3 or validly terminated by Buyer pursuant to Section 6.2(a). Section 6.6 Extension; Waiver. At any time prior to the Closing, Parent and Buyer, on the one hand, and the Company, on the other hand, may (a) extend the time for the performance of any of the obligations of the other party, (b) waive any inaccuracies in the representations and warranties of the other party contained in this Agreement or in any document delivered under this Agreement or, (c) subject to applicable laws, waive compliance with any of the covenants or conditions contained in this Agreement. Any agreement on the part of a party to any extension or waiver shall be valid only if set forth in an instrument in writing signed by such party. The failure of any part to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights. 9 Dad!: USI:95311113v10 EFTA01202836 ARTICLE VII MISCELLANEOUS Section 7.1 Interpretation. Headings in this Agreement are for reference only and shall not affect the meaning or interpretation of this Agreement. Definitions shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. All references in this Agreement to Articles, Sections and Exhibits shall refer to Articles and Sections of, and Exhibits to, this Agreement unless the context shall require otherwise. The words "include," "includes" and "including" shall not be limiting and shall be deemed to be followed by the phrase "without limitation." Unless the context shall require otherwise, any agreements, documents, instruments or laws defined or referred to in this Agreement shall be deemed to mean or refer to such agreements, documents, instruments or laws as from time to time amended, modified or supplemented, including (a) in the case of agreements, documents or instruments, by waiver or consent and (b) in the case of laws, by succession of comparable successor statutes. All references in this Agreement to any particular law shall be deemed to refer also to any rules and regulations promulgated under that law. References to a person also refer to its predecessors and permitted successors and assigns. Section 7.2 Survival. None of the representations and warranties contained in this Agreement or in any instrument delivered under this Agreement shall survive the Closing. This Section 7.2 shall not limit any covenant or agreement of the parties to this Agreement which, by its terms, contemplates performance after the Closing. Section 7.3 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. Section 7.4 Submission to Jurisdiction. The parties to this Agreement (a) irrevocably submit to the personal jurisdiction of the federal courts of the United States of America and the courts of the State of New York located in the New York County, New York and (b) waive any claim of improper venue or any claim that those courts are an inconvenient forum. The parties to this Agreement agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in Section 7.6 or in such other manner as may be permitted by applicable laws, shall be valid and sufficient service thereof. Section 7.5 Waiver of Jury Trial. Each party acknowledges and agrees that any controversy which may arise under this Agreement is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or the transactions contemplated by this Agreement. Each party to this Agreement certifies and acknowledges that (a) no representative of any other party has represented, expressly or otherwise, that such other party would not seek to enforce the foregoing waiver in the event of a legal action, (b) such party has considered the implications of this waiver, (c) such party makes this waiver voluntarily, and (d) such party has been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this Section 7.5. 10 DeeN: USI:9530713v10 EFTA01202837 Section 7.6 Notices. Any notice, request, instruction or other communication under this Agreement shall be in writing and delivered by hand or overnight courier service or by facsimile or email: If to Parent or Buyer, to: ARSP LLC do Elysium Management 445 Park Avenue, Suite 1401 New York, NY 10022 Facsimile: 1 Attention: Keith Fox & Eileen Alexanderson email: with a copy to: Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, NY 10019 Facsimile: 1 Attention: David K. Lakhdhir email: If to the Company, to: Artspace Marketplace, Inc. 75 Broad Street, 26th Floor New York, NY 10004 Facsimile: 1 Attention: Catherine Levene email: with a copy to: Pillsbury Winthrop Shaw Pittman LLP 1540 Broadway New York, NY 10036 Facsimile: 1 Attention: Ronald A. Fleming, Jr. email: or to such other persons, addresses or facsimile numbers or email addresses as may be designated in writing by the person entitled to receive such communication as provided above. Each such communication shall be effective (a) if delivered by hand, when such delivery is made at the address specified in this Section 7.6, (b) if delivered by overnight courier service, the next business day after such communication is sent to the address specified in this Section 7.6, or (c) if delivered by facsimile or email, when such facsimile or email is transmitted to the facsimile number or email addressed specified in this Section 7.6 and appropriate confirmation is received. 11 DeeN: USI:95311113v10 EFTA01202838 Section 7.7 Entire Agreement. This Agreement (including the Exhibits to this Agreement) constitutes the entire agreement and supersede all other prior agreements, understandings, representations and warranties, both written and oral, among the parties to this Agreement with respect to the subject matter of this Agreement. No representation, warranty, inducement, promise, understanding or condition not set forth in this Agreement has been made or relied upon by any of the parties to this Agreement. Section 7.8 Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions of this Agreement. If any provision of this Agreement, or the application of that provision to any person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision shall be substituted for that provision in order to carry out, so far as may be valid and enforceable, the intent and purpose of the invalid or unenforceable provision and (b) the remainder of this Agreement and the application of that provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of that provision, or the application of that provision, in any other jurisdiction. Section 7.9 Rules of Construction. The parties to this Agreement have been represented by counsel during the negotiation and execution of this Agreement and waive the application of any laws or rule of construction providing that ambiguities in any agreement or other document shall be construed against the party drafting such agreement or other document. Section 7.10 Assignment. This Agreement shall not be assignable by operation of law or otherwise. Section 7.11 Remedies. Except as otherwise provided in this Agreement, any and all remedies expressly conferred upon a party to this Agreement shall be cumulative with, and not exclusive of, any other remedy contained in this Agreement, at law or in equity. The exercise by a party to this Agreement of any one remedy shall not preclude the exercise by it of any other remedy. Section 7.12 Specific Performance. The parties to this Agreement agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties to this Agreement shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. Section 7.13 Counterparts: Effectiveness. This Agreement may be executed in any number of counterparts, all of which shall be one and the same agreement. This Agreement shall become effective when each party to this Agreement shall have received counterparts signed by all of the other parties. Section 7.14 No Third Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing 12 DeeN: USI:95311113v10 EFTA01202839 herein, express or implied, is intended to or shall confer upon any other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. [signature page follows] 13 DeeN: USI:9538113v10 EFTA01202840 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized officers of the parties to this Agreement as of the date first written above. ARSP LLC By: Name: Keith Fox Title: Manager AS ACQUISITION LLC By: Name: Keith Fox Title: Manager ARTSPACE MARKETPLACE, INC. By: Name: Catherine Levene Title: Chief Executive Officer 14 DeeN: USI:9530713v10 EFTA01202841 Exhibit A: Assumed Contracts COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT I. CONSULTING CONTRACTS 1. Form — Standard Consulting Agreement Undated 2. Dana Gertz January 10, 2013 3. Colin Hynes July 26, 2011 4. iTechArt Group July 8, 2013 5. Laura J Folco May 21, 2012 6. Sean Smith June 11, 2013 7. Shulman Fleming & Partners November 10, 2010 II. EDITORIAL CONTRACTS 8. Ashton Cooper September 27, 2012 9. Chloe Wyma March 12, 2012 10. Ian Wallace March 3, 2014 11. Katherine Wolf March 7, 2013 12. Noelle Bodick January 20, 2014 13. Rebekah Huber January 6, 2012 14. Sara Blazej July 23, 2012 15. Sarah Dickerson April 2, 2012 16. Shiyin Lin July 16, 2012 17. Taylor Fisch January 27, 2014 18. Walter Robinson February 19, 2013 III. MARKETING CONTRACTS 19. Criteo IO Undated 20. Google, Inc. Undated 21. January Digital August 12, 2013 IV. SUPPLY PARTNERSHIP CONTRACTS 22. 303 Gallery March 10, 2011 23. Acria March 6, 2012 24. Alexander and Bonin August 14, 2012 15 DoeN: USI:95311113v10 EFTA01202842 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 25. Alexis Rockman Undated 26. Alice Quaresma May 8, 2014 27. Allegra LaViola Gallery June 22, 2012 28. Almine Rech Gallery June 27, 2012 29. Alteria Art February 21, 2014 30. Altman Siegel June 3, 2013 31. Anat Ebgi July 13, 2012 32. Anderson Ranch Arts Centre Undated 33. Andrew Rafacz August 31, 2012 34. Andy DuCett June 27, 2014 35. Anna Orlowska March 27, 2014 36. Anthony Meier Fine Arts March 12,2013 37. Anton Kern Gallery January 22, 2014 38. Aperture Foundation August 8, 2013 39. Art In General May 25, 2011 40. Art on the Unground August 20, 2013 41. Art Plural Gallery Undated 42. Art Production Fund Undated 43. ART21 January 29, 2014 44. Artadia February 18, 2014 45. Artis — Contemporary Israeli Art Fund, Inc. May 1, 2010 46. Artis Contemporary Israeli Art Fund January 23, 2012 47. ARTISTS OF THE WORLD October 13, 2011 48. Artists Space December 14, 2011 49. Assouline Publishing September 27, 2013 50. Aziz+Cucher April 3, 2012 51. Barbara Krakow Gallery January 23, 2013 52. Bass Museum June 10, 2014 53. Bastienne Schmidt March 21, 2011 54. Beijing X + Q International June 4, 2013 16 DeeN: USI:953/1113v10 EFTA01202843 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 55. Bernstein & Andriulli Undated 56. Billy Sullivan November 7, 2011 57. Bitforms Gallery June 27, 2012 58. Blair Seagram August 25, 2012 59. Boltax Gallery April 26, 2012 60. Bonni Benrubi Gallery December 14, 2011 61. Bortolami Gallery February I, 2013 62. Brand New Gallery May 3, 2013 63. Brion Nuda Rosch January 21, 2011 64. Broadway 1602 March 15, 2014 65. Brooke Alexander, Inc. May 22, 2013 66. Brooklyn Academy of Music January 25, 2011 67. Brooklyn Museum of Art May 3, 2011 68. Bryan Rowe January 26, 2012 69. Bryce Wolkowitz Gallery August 15, 2012 70. Burt Barr April 13, 2011 71. C24 Gallery August 17, 2012 72. Camden Arts Centre January 13, 2013 73. Cang Xin March 29, 2012 74. Carolina Nitsch Contemporary Art LLC April 22, 2013 75. Casa Dragones March 14, 2013 76. Catherine Edelman Gallery March I, 2012 77. Charity Global, Inc. Undated 78. Chelouche Gallery January 13, 2013 79. Chemould Prescott Road September 11, 2012 80. Cherry and Martin December 6, 2011 81. Children's Cancer Blood Foundation July 28, 2011 82. Chinati Foundation April 30, 2012 83. Chisenhale Gallery Undated 84. Chumer & Chumer May 19, 2014 17 DeeN: U51:9530713v10 EFTA01202844 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 85. Clifford Ross Studio, Inc. April 4, 2011 86. CMANY May 20, 2013 87. Concept Art Gallery February I, 2013 88. Contemporary Art Museum St. Louis August 9, 2013 89. Corbett vs. Dempsey September 4, 2012 90. Counter Editions August 7, 2012 91. Courtney Smith May 11, 2011 92. Creative Time August 5, 2011 93. CRG Gallery June 15, 2011 94. Cristin Tiemey February 25, 2012 95. Crown Point Press March 7, 2011 96. Cyril Christo / Marie Wilkinson February 17, 2012 97. Dan Cooper January 18, 2011 98. Daniel Rich Undated 99. Darren Wardle Undated 100. David A. Brown Undated 101. David De Buck February 28, 2013 102. David Levinthal Undated 103. David Salle December 7, 2011 104. David Zwimer August 2, 2011 105. Delita Martin July 2, 2014 106. Denier L'Etoile Studios August 28, 2013 107. Dia: Beacon August 9, 2013 108. Diane Villani Editions November 21, 2013 109. Dieu Donne May 23, 2012 110. Donald Baechler April 8, 2011 111. Douglas Geraghty July 21, 2010 112. Dustin Yellin September 19, 2011 113. Dvir Galler December 5, 2012 114. Dzine Studio, Inc. February 7, 2014 18 DeeN: U51:9530713v10 EFTA01202845 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 115. Eduardo Sarabia September 15, 2013 116. Electric Works April 30, 2012 117. Eleven Rivington January 26, 2012 118. Elle Muliarchyk Undated 119. Ellen Priest April 17, 2012 120. Eli Sudbrak (AVAF) April 15, 2011 121. Flux Projects August 24, 2010 122. Ever Gold Gallery April 5, 2012 123. Experimenter August 16, 2012 124. Feature Inc. February 25, 2012 125. Fleisher/Ollman Gallery September 5, 2012 126. Foley April 14, 2012 127. Foundation for Contemporary Arts August 8, 2013 128. Fraenkel Gallery June 3, 2013 129. Francesca DiMattio September 30, 2011 130. Franklin Furnace Archive, Inc. October 12, 2012 131. Friedrich Petzel Gallery June 9, 2011 132. Gabriel Dawe July 7, 2014 133. Galerie Eva Presenhuber March 7, 2012 134. Galerie Lelong January 24, 2012 135. Galerie Lelong Paris April 2, 2013 136. Galerie Perrotin November 21, 2013 137. Galerie PUSH September 29, 2010 138. Galerie Stanislas Bourgain October 31, 2013 139. Gallery km February 22, 2012 140. Gering and Lopez Gallery May 30, 2013 141. Gilman Contemporary May 3, 2012 142. Guild Hall March 17, 2014 143. HADA Contemporary April 30, 2013 144. Hank Willis Thomas April 17, 2012 19 DeeN: USI:9538113v10 EFTA01202846 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 145. Harold Ross May 24, 2012 146. Headlands Center for the Arts April 30, 2012 147. Hespe Gallery May 4, 2012 148. Highlight October 26, 2012 149. Honor Fraser September 11, 2012 150. i8 Gallery January 30, 2012 151. If We Were Two March 20, 2014 152. Independent Curators International October 31, 2013 153. Institution of Contemporary Art, Philadelphia August 2, 2011 154. International Print Center March 26, 2013 155. Isaac Julien February 3, 2012 156. Jack Fischer Gallery May 1, 2012 157. Jack Hanley December II, 2013 158. James Cohan Gallery March 10, 2011 159. Jason Jagel May 11, 2012 160. Jay Baffle February 21, 2012 161. Jean Pagliuso Studio February 11, 2012 162. Jeremy Kost June 14, 2011 163. Jessica Silverman July 20, 2011 164. John Newman April 25, 2012 165. John Szoke August 27, 2013 166. Jonathan Monaghan July 2, 2014 167. Jose Iraola November 1, 2011 168. Jotta August 20, 2012 169. JRSA January 20, 2012 170. Judy Hudson April 15, 2011 171. Julie S. Graham July 8, 2011 172. Kara Maria July 13, 2010 173. Kavi Gupta Gallery April I, 2011 174. Keystone Editions / Sarah Dudley — Ulrich April 23, 2013 Kuehle GbR 20 DeeN: USI:95311113v10 EFTA01202847 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 175. Kim Cadmus Owens July 22, 2014 176. Kopeikin Gallery March I, 2012 177. L. Parker Stephenson Photographs March 16, 2012 178. La Librairie du Musee Modeme de la Ville July 1, 2011 179. Lakeeren November 10, 2012 180. Landfall Press, Inc. April 6, 2012 181. Laumont Gallery June 5, 2012 182. Lawrence Weiner June 30, 2011 183. LAX Art February 6, 2012 184. LeBasse Projects April 21, 2012 185. Lee Gallery March I, 2012 186. Lee Marks Fine Art April 5, 2013 187. Lehman Maupin LLC July 27, 2011 188. Leila Heller Gallery April 5, 2013 189. Lennon, Weinberg, Inc. August 30, 2011 190. Leo Fitzmaurice May 29, 2014 191. LeRoy Neiman Center June 5, 2014 192. Heller Workspace February 9, 2012 193. Leslie Sacks May 14, 2014 194. Leslie Tonkonow Artworks + Projects October 11, 2011 195. Light Work February 18, 2014 196. Lincoln Center September 26, 2012 197. Liu Bolin December 3, 2011 198. Livestrong September 13, 2011 199. Liz Cohen Undated 200. Lococo Fine Art Publisher January 22, 2013 201. Lombard Freid Projects January 3, 2012 202. Long-Sharp Gallery August 26, 2013 203. Los Angeles County Museum of Art February 27, 2012 204. Loushy June 5, 2014 21 DeeN: USI:9538113v10 EFTA01202848 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 205. Lower East Side Printshop May 26, 2011 206. Lower Manhattan Cultural Council March 16, 2012 207. Lucien Terms Inc. June 6, 2012 208. Luhring Augustine July 6, 2011 209. M. Sherrie Hunt October 10, 2012 210. M+B March 6, 2012 211. Maccarone December 6, 2011 212. Magical Thinking Art, Inc. April 30, 2013 213. Magnan Metz December 13, 2013 214. Magnum Photos August 5, 2013 215. Mansi Bhatt November 21, 2012 216. Marc Dennis Undated 217. Marcel Dzama October 27, 2011 218. Marianne Boesky Gallery July 29, 2011 219. Martin Zad March 27, 2014 220. Mary Ryan Gallery February 20, 2014 221. Matthew Jensen November 7, 2011 222. Matthew Weinstein May 30, 2011 223. Maya Lin Studio, Inc. March 20, 2014 224. McDermott & McGough February 15, 2012 225. Meghan Boody November 26, 2012 226. Mendes Wood July 3, 2012 227. Merce Cunningham Trust May 14, 2012 228. Metro Pictures January 20, 2012 229. Mequitta Ahuja June 30, 2014 230. Michael Menchaca July 7, 2014 231. Mindy Solomon Gallery April 28, 2012 232. Mixed Greens February 22, 2012 233. Miya Ando June 19, 2013 234. MOCA Miami February 21, 2012 22 DeeN: USI:9538113v10 EFTA01202849 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 235. MOCA Tucson February 16, 2012 236. Modembook Gallery May 4, 2012 237. Monique Meloche January 14, 2014 238. Morgan Lehman Gallery May 14, 2013 239. Museum of Contemporary Art Chicago December 10, 2013 240. Museum of Contemporary Art, Detroit September 30, 2013 241. Museum of Contemporary Art Cleveland January 12, 2012 242. Museum of Contemporary Art Los Angeles March 8, 2012 243. Natalie Frank September 25, 2012 244. New Museum January I, 2012 245. New York Live Arts January 23, 2013 246. Night Gallery March 30, 2012 247. NTHP Glass House July 31, 2012 248. Nye + Brown August 3, 2012 249. Onestar Press May 14, 2012 250. Orly Genger September 7, 2012 251. Other Criteria Ltd November 9, 2011 252. June 1, 2012 253. Pamela Hanson June 20, 2011 254. Parasol Unit Undated 255. Parker's Box February 18, 2012 256. Parkett Publishers, Inc. December 13, 2013 257. Patricia Cronin May 18, 2014 258. Pat Steir May 9, 2012 259. Paul Jung January 31, 2014 260. Paul Kasmin Gallery February 28, 2013 261. Paula Cooper Gallery March 20, 2013 262. Peter Coffin July 1, 2011 263. Peter Dayton July 27, 2012 264. Petros Chrisostomou May 17, 2013 23 DeeN: USI:95311113v10 EFTA01202850 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 265. Planned Parenthood Hudson Peconic February 24, 2014 266. Poligrafa Obra Grafica June 24, 2013 267. Poppy de Villeneuve July 26, 2010 268. Praxis July 25, 2012 269. Proscilla Rattazzi May 11, 2011 270. Princeton Architectural Press March 16, 2012 271. Project 88 November 2, 2012 272. Prosodic Body October 20, 2012 273. Quinze & Milan USA November 26, 2013 274. Ralph Gibson January 31, 2014 275. Ratio 3 October 27, 2011 276. Raul Mourao Undated 277. Rebecca Graham January 19, 2011 278. Recess June 20, 2012 279. Regina Vater April 14, 2011 280. Revolver Gallery April 15, 2013 281. Rhona Hoffman Gallery November 2, 2011 282. Ricco/Maresca Gallery June 1, 2012 283. Richard Heller April 25, 2014 284. Richard Levy Gallery July 2, 2013 285. Rick Wester Fine Art, Inc., d/b/a RWFA March 14, 2012 286. Rogue Fine Art December 13, 2012 287. RongRong & Inn December 6, 2012 288. Ross Bleckner Aprilll, 2011 289. Roy Boyd Gallery May 5, 2012 290. RX Art Undated 291. Sadie Coles HQ December 9, 2011 292. Sally Gall March 21, 2011 293. Salomon Contemporary November 16, 2011 294. Sasha Douglas March 29, 2011 24 DeeN: USI:95311113v10 EFTA01202851 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 295. Sculpture Center May 23, 2014 296. Serge Hamad February 14, 2012 297. Shantell Martin December 19, 2012 298. Sikkema Jenkins & Co May 11, 2011 299. Sims Reed January 21, 2014 300. SITE Santa Fe March 6, 2012 301. The Sk8room April 16, 2014 302. Skowhegan School of Painting & Sculpture October 25, 2013 303. Sommer Contemporary Art January 8, 2013 304. South London Gallery January 15, 2014 305. Southern Exposure November 12, 2012 306. Sperone Westwater April 4, 2013 307. Spoke Art Gallery April 25, 2012 308. Stephen Bulger Gallery April 18, 2012 309. Stephen Friedman Gallery June 11, 2013 310. Steve Miller March 21, 2011 311. Stuart Collection, UCSD February 8, 2013 312. Studio Voltaire September 24, 2013 313. Susan Inglett Gallery January 6, 2012 314. Swiss Institute/Contemporary Art December 20, 2013 315. Sylvia Martins March 21, 2011 316. Taka Ishii Gallery December 2, 2013 317. Tamarind Institute November 21, 2013 318. Tandem Press February 13, 2014 319. Tanyeth Berkeley July 8, 2014 320. Taymour Grahne Gallery February 10, 2014 321. Ted VanCleave September 6, 2012 322. Tempo Rubato March 18, 2014 323. The Andy Warhol Museum August 1, 2012 324. The Drawing Center February 21, 2012 25 DoeN: USI:95311113v10 EFTA01202852 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 325. The Hayground School October 3, 2011 326. The Kitchen November 17, 2010 327. The Lapis Press February 3, 2014 328. The Mayor & Commonalty and Citizens of the Undated City of London, owner and principal funder of the Barbican Centre 329. The Metropolitan Museum of Art July 10, 2012 330. The Mission August 22, 2012 331. The Modern Institute November 1, 2013 332. The Paris Review Foundation October 4, 2012 333. The Reanissance Society October 29, 2013 334. The Tibet Center April 2, 2014 335. Three Star Books September 11, 2012 336. Tibor de Nagy Gallery June 1, 2012 337. Tobin Ohashi Undated 338. Todd Matarazzo Undated 339. Tom Cohen Aprilll, 2011 340. Tom Goldenberg June 28, 2012 341. Tracy Williams, Ltd February I, 2013 342. U.S. Biennial, Inc./Prospect New Orleans August 8, 2013 343. Ullens Center for Contemporary Art Undated 344. University of South Florida Board of Trustees April 9, 2013 345. Untitled Fine Art May 25, 2012 346. Verge Center for the Arts April 18, 2012 347. Victoria Miro June 26, 2013 348. Volunteer Lawyers for the Arts Undated 349. W. Dieter Zander September 7, 2012 350. Walter Maciel Gallery February 4, 2012 351. Wang Ningde November 28, 2011 352. Warren Neidich December 16, 2011 353. Watie White July 2, 2014 26 Dad!: USI:95311113v10 EFTA01202853 COUNTERPARTY TO THE CONTRACT DATE OF THE CONTRACT 354. WEN Fang November 28, 2011 355. White Box Ltd. June 5, 2013 356. White Cube Art LLP May 31, 2011 357. Whitney Museum of American Art Undated 358. Xing Danwen Undated 359. Yancey Richardson Gallery March 15, 2012 360. Yerba Buena Center for the Arts September 27, 2010 361. Youngsuk Suh Undated 362. Zabludowicz Art Projects January 30, 2013 363. ZieherSmith February 23, 2012 V. TECH CONTRACTS 364. Adobe Typekit November 1, 2013 365. Amazon June 1, 2013 366. Artspace External License Agreements — - Products 367. Sailthru, Inc. March 30, 2013 368. SalesForce January 7, 2013 Other Assumed Liabilities Buyer will assume all liabilities that are due in the ordinary course of business for current periods, which are either invoiced to the Company or directly billed to the Company's corporate American Express card after August 14, 2014 in relation to the following: • A Plus Messenger Service • Atelier 4 (or other art handler on a case by case basis) • FedEx/UPS/DHL • Bonnist Fulfillment • Electric Works printing for Artspace Editions • Time Warner Internet • Amazon Web services • Adobe systems software • Verizon Wireless service • Google Apps (for email service) • Paypal service fees • Credit Card and Merchant Services Fees 27 DeeN: USI:95311113v10 EFTA01202854 • BaseCamp project management software • Linked In subscription fees • Efax fees • 8x8 telephone service • AT&T monthly data service fees for ipads • Vonage • Chartbeat real time analytics • Rackspace Cloud • Github • Godaddy • Pivotal Labs • Sailthru • Exactor tax • Duty Calculator • • Uline Packaging • Dropbox • XML Site Map • Larson Juhl Frames (or other framers on a case by case basis) • Other daily software • T&E • Wire fees • Consultant Fees (Nessia Pope and Greg Budin & Associates) • Gateway/Authorize.net payment processing fees • Intuit • Deferred Gift Cards • Other similar current operating expenses that are not material individually or in the aggregate For the avoidance of doubt, all liabilities arising in Buyer's operation of the Artspace business from and after the Closing will be liabilities of Buyer (not the Company). 28 DeeN: USI:9530713v10 EFTA01202855 Exhibit B: Creditors of the Company Lender Name and Address Amount Owed* Catherine Levene $60,074.52 Christopher Vroom $213,582.93 Timothy Mott $600,810.96 Canaan IX . $1,053,758.88 Daniel G. Levene $150,417.53 Richard Kramlich $150,526.01 *includes all accrued interest, premium and other amounts owed as of August 14, 2014. 29 Deell: USI:9518713v10 EFTA01202856 Exhibit C: Employees of the Company to be offered Employment with Buyer Catherine Levene Emmanuele Vinciguerra Patton Hindle Mackenzie Tuite Karen Vanegas Christine Calabro Karstofsky Daniel Taraschi Andrew Goldstein 30 DeeN: USI:9538113v10 EFTA01202857 Exhibit D: Written Information Furnished by the Company to Buyer 1. All items uploaded by the Company to Dropbox virtual data room 2. Emails (including attachments) to Keith Fox, John Murphy and Eileen Alexanderson from Catherine Levene, Emmanuele Vinciguerra and Greg Budin & Associates, including Greg Budin and Cecilia Driscoll 3. Access to quickbooks reports and other online reports and databases furnished by the Company 31 DeeN: USI:9538113v10 EFTA01202858