<SEC-DOCUMENT>0001144204-16-127188.txt : 20161006
<SEC-HEADER>0001144204-16-127188.hdr.sgml : 20161006
<ACCEPTANCE-DATETIME>20161006133536
ACCESSION NUMBER:		0001144204-16-127188
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160930
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161006
DATE AS OF CHANGE:		20161006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INNODATA INC
		CENTRAL INDEX KEY:			0000903651
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				133475943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35774
		FILM NUMBER:		161924545

	BUSINESS ADDRESS:	
		STREET 1:		THREE UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601
		BUSINESS PHONE:		201 371 8000

	MAIL ADDRESS:	
		STREET 1:		THREE UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INNODATA ISOGEN INC
		DATE OF NAME CHANGE:	20031117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INNODATA CORP
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v450064_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report: September 30, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INNODATA INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>0-22196</B></FONT></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>13-3475943</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">incorporation)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Three University Plaza</B></FONT></TD>
    <TD STYLE="width: 34%; padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>07601</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Hackensack, NJ 07601</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>(201) 371-8000</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Registrant's telephone number, including area code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>N/A</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Former name or former address, if changed since last report)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item 1.01. </B></FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-size: 10pt"><B><U>Entry into a Material Definitive Agreement.</U></B></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information set forth under Item 2.01 of this Current Report
on Form 8-K is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item 2.01. </B></FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-size: 10pt"><B><U>Completion of Acquisition or Disposition of Assets.</U></B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to the Form 8-K (&ldquo;2014 Form 8-K&rdquo;)
that Innodata Inc. (the &ldquo;Company&rdquo;) filed on July 29, 2014 in connection with the acquisition by a wholly-owned overseas
subsidiary of the Company of 100% of the common shares and 100% of the preferred shares of MediaMiser Ltd. Reference is further
made to the share purchase agreement (the &ldquo;SPA&rdquo;) and articles of amalgamation that were filed as exhibits to the 2014
Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 30, 2016 the parties to the SPA entered into Amendment
No. 1 to the SPA (the &ldquo;Amendment&rdquo;). The Amendment amends the terms on which the Company&rsquo;s subsidiary is required
to make a supplemental purchase price payment under the SPA. Prior to the Amendment, the amount of the supplemental purchase price
payment was to be determined by the achievement of financial thresholds set forth in the SPA and was in no event to exceed C$5,000,000.
The Amendment fixes the amount of the supplemental purchase price payment at C$2,000,000 payable in two equal installments on March
31, 2017 and March 31, 2018 to designated recipients in proportions set out in the SPA as amended, except that no payments will
be made to designated recipients who fail to satisfy specified conditions. The Company&rsquo;s subsidiary has the option to arrange
for payment of a portion of the supplemental purchase price payments in shares of common stock of Innodata Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing summary of the Amendment is qualified in its entirety
by reference to the text of the Amendment filed as an exhibit to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item 3.02. </B></FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-size: 10pt"><B><U>Unregistered Sales of Equity Securities.</U></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The disclosures set forth under Items 1.01 and 2.01 of this
Current Report on Form 8-K relating to future issuances of Innodata Inc. common stock are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The issuances of Innodata Inc. common stock will be exempt from
registration under the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item 9.01.</B>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><FONT STYLE="font-size: 10pt"><B><U>Financial Statements and Exhibits</U></B><U>.</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">2.1</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Amendment No. 1 to Share Purchase Agreement dated as of September 30, 2016 filed herewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">INNODATA INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Date:&nbsp;&nbsp;October 6, 2016</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">/s/ Amy Agress</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Amy Agress</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Senior Vice President and General Counsel</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 273.05pt">&nbsp;<B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>INDEX TO EXHIBITS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 0.75in; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 0.25in; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">2.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Amendment No. 1 to Share Purchase Agreement dated as of September 30, 2016 filed herewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>v450064_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 2.1</P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMENDMENT NO. 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TO SHARE PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This AMENDMENT NO. 1 TO SHARE PURCHASE
AGREEMENT is dated as of September 30, 2016 (this &ldquo;Amendment&rdquo;) and amends the Share Purchase Agreement dated as of
July 28, 2014 (the &ldquo;Agreement&rdquo;), by and among the parties listed in Schedule 1 of the Agreement (collectively, the
&ldquo;Sellers&rdquo;), MediaMiser Ltd., a corporation incorporated under the <I>Business Corporations Act</I> (Ontario) (the &ldquo;OBCA&rdquo;)
on April 15, 2003 (&ldquo;MediaMiser&rdquo;) and 2426818 Ontario Inc. (the &ldquo;Purchaser&rdquo;). Capitalized terms not defined
in this Amendment have the meanings set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, on July 28,
2014 Purchaser acquired all of the issued and outstanding Preferred Shares of MediaMiser and all of the issued and outstanding
Common Shares of MediaMiser pursuant to the Agreement (the &ldquo;Acquisition&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, forthwith
following the Acquisition, the Purchaser and MediaMiser amalgamated pursuant to articles of amalgamation filed under the OBCA on
July 28, 2014 and continued as one corporation under the provisions of the OBCA (the &ldquo;Amalgamation&rdquo;) named &ldquo;MediaMiser
Ltd.&rdquo; (the &ldquo;Company&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS as a result
of the Amalgamation, the property of each of Purchaser and MediaMiser continued to be the property of the Company and the Company
continued to be liable for the obligations of each of the Purchaser and MediaMiser; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Sellers and
the Company have agreed that it is in their best interests to amend the terms of the Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, pursuant to
Section 11.2(a) of the Agreement, Sellers and the Company may amend the Agreement by an instrument in writing signed by the Sellers
and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the foregoing premises and the respective terms and conditions contained herein, the receipt and sufficiency of
which is hereby acknowledged, Sellers and the Company hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">1)</TD><TD STYLE="text-align: justify"><U>Amendment</U>. The Agreement is hereby amended as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">A)</TD><TD STYLE="text-align: justify">Section 1.1 of the Agreement, Definitions, is amended as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">i)</TD><TD STYLE="text-align: justify">Section (n) &ldquo;Maximum Earnout Amount&rdquo; is deleted in its entirety and replaced with the
following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&ldquo;<B>Maximum
Earnout Amount</B>&rdquo; means the sum of $2,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">ii)</TD><TD STYLE="text-align: justify">Section (bb) &ldquo;Earnout Payment Date&rdquo; is deleted in its entirety.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">iii)</TD><TD STYLE="text-align: justify">The following definitions are added (in applicable alphabetical order to Section 1.1 of the Agreement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>&ldquo;2017 Earnout Payment
Date&rdquo;</B> means March 31, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>&ldquo;2018 Earnout Payment
Date&rdquo;</B> means March 31, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>&ldquo;Executive Employment
Agreements&rdquo;</B> means, collectively, the executive employment agreements dated July 28, 2014 between MediaMiser and each
of Martin Lyster (&ldquo;Lyster&rdquo;), Chris Morrison (&ldquo;Morrison&rdquo;) and Brett Serjeantson (&ldquo;Serjeantson&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><B>&ldquo;Non-Competition and
Non-Solicitation Agreements&rdquo;</B> means, collectively, the non-competition and non-solicitation agreements dated July 28,
2014 among the Purchaser, MediaMiser and each of Lyster, Morrison, and Serjeantson.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">B)</TD><TD STYLE="text-align: justify">Section 2.3 of the Agreement, Supplemental Purchase Price- Earnout, is deleted in its entirety
and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">In consideration for the purchase by the Purchaser of the Common Shares, the Purchaser shall pay,
or cause to be paid, to the Earnout Recipients, in the manner set forth in Section 2.3(d) and subject to Section 9.11 an amount
equal to $2,000,000 (the &ldquo;<B>Earnout Amount</B>&rdquo;), subject to the conditions set forth in Sections 2.3(b) and 2.3(c)
below. The Earnout Amount shall be allocated among the Earnout Recipients in the ratio that the number of Common Shares listed
opposite their respective names in Schedule 1 is to the total number of Common Shares listed on such schedule for all Earnout Recipients.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Conditions Precedent to Payment of the Earnout Amount. On each of the 2017 Earnout Payment Date
and the 2018 Earnout Payment Date (each hereinafter referred to as a &ldquo;<B>Payment Date</B>&rdquo;), the following shall be
true and correct:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">In respect of payments to Lyster:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Lyster shall continue to be employed with the Company, shall have been terminated by the Company
without Cause (as such term is defined in the Executive Employment Agreements), or shall have resigned his employment with the
Company by mutual written agreement of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Confidentiality, Non-Solicitation and Non-Competition
Provisions set forth in Sections 6 and 7 of the Executive Employment Agreement to which Lyster is a party;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Non-Competition and Non-Solicitation Agreement
to which Lyster is a party; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Lyster shall have provided the Company a certificate in the form of Exhibit A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">In respect of payments to Morrison and Leanne Morrison:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Morrison shall continue to be employed with the Company, shall have been terminated by the Company
without Cause (as such term is defined in the Executive Employment Agreements), or shall have resigned his employment with the
Company by mutual written agreement of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Confidentiality, Non-Solicitation and Non-Competition
Provisions set forth in Sections 6 and 7 of the Executive Employment Agreement to which Morrison is a party;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Non-Competition and Non-Solicitation Agreement
to which Morrison is a party; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Morrison shall have provided the Company a certificate in the form of Exhibit A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">In respect of payments to Serjeantson and Kelly Serjeantson:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Serjeantson shall continue to be employed with the Company, shall have been terminated by the Company
without Cause (as such term is defined in the Executive Employment Agreements), or shall have resigned his employment with the
Company by mutual written agreement of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Confidentiality, Non-Solicitation and Non-Competition
Provisions set forth in Sections 6 and 7 of the Executive Employment Agreement to which Serjeantson is a party;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">No violation or default shall have occurred under the Non-Competition and Non-Solicitation Agreement
to which Serjeantson is a party; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Serjeantson shall have provided the Company a certificate in the form of Exhibit A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">In the event that any condition precedent to payment under Section 2.3(b)(i) shall not have been
met as of a Payment Date, the Purchaser shall not be obligated to pay to Lyster any portion of the Earnout Amount otherwise due
to Lyster. In the event that any condition precedent to payment under Section 2.3(b)(ii) shall not have been met as of a Payment
Date, the Purchaser shall not be obligated to pay to either Morrison or Leanne Morrison any portion of the Earnout Amount otherwise
due to Morrison or Leanne Morrison. In the event that any condition precedent to payment under Section 2.3(b)(iii) shall not have
been met as of a Payment Date, the Purchaser shall not be obligated to pay to Serjeantson or Kelly Serjeantson any portion of the
Earnout Amount otherwise due to Serjeantson or Kelly Serjeantson. In the event any such condition precedent to payment shall not
have been met as aforesaid, the aggregate Earnout Amount shall be reduced by the amount no longer obligated to be paid; <U>provided
that</U>, for the avoidance of doubt, there shall be no reduction pursuant to this Section 2.3(c) to the portion of the Earnout
Amount to be paid: (i) to any party who satisfies the conditions precedent in respect of payments due to such party in Section
2.3(b); or (ii) to any Seller, other than Leanne Morrison or Kelly Serjeantson, who is not directly subject to any condition precedent
pursuant to Section 2.3(b).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD STYLE="text-align: justify">The Earnout Amount (subject to any reduction pursuant to Section 2.3(c) above and any set-off pursuant
to Section 9.10) will be payable in cash in two equal installments on March 31, 2017 and March 31, 2018, provided that (i) the
Purchaser shall have the option, in its sole discretion, to arrange for the payment of up to 70% of the Earnout Amount of each
installment in Innodata Shares; and (ii) the portion of the Earnout Amount payable to Trust will include a cash component sufficient
to pay the portion of the Earnout Amount allocated to the Beneficiaries listed in Schedule &ldquo;A&rdquo; of the Employee Trust
100% in cash. If the Purchaser elects to satisfy any portion of the Earnout Amount with Innodata Shares, the number of Innodata
Shares to be delivered to the Earnout Recipients shall be such number of Innodata Shares (rounded down to the nearest whole number)
having an aggregate Market Price on the Earnout Payment Date equal to the US Dollar Equivalent of the Canadian dollar amount of
the Earnout Amount that would otherwise have been payable in cash. Any cash payment comprising the Earnout Amount shall be paid
by certified cheque or bank draft or other means of immediately available funds.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">C)</TD><TD STYLE="text-align: justify">Section 2.5 of the Agreement, Innodata Shares, is amended as follows</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">i)</TD><TD STYLE="text-align: justify">Section 2.5 (a) is deleted in its entirety and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Under current law, an exemption
from registration under the U.S. Securities Act will be available for the resale of any Innodata Shares by the Sellers that are
issued in respect of the First Anniversary Payment and the Second Anniversary Payment, but may not be available for the resale
of any Innodata Shares by the Sellers that are issued in respect of the Earnout Amount. Any Innodata Shares that are issued to
the Sellers in respect of the First Anniversary Payment, the Second Anniversary Payment or the Earnout Amount shall be collectively
referred to as the &ldquo;<B>Consideration Shares&rdquo;</B>. Innodata shall promptly take any action to ensure that its Transfer
Agent is instructed to remove any legends restricting the resale of any Consideration Shares issued in respect of the First Anniversary
Payment or the Second Anniversary Payment as permitted under Applicable Law. If for any reason this exemption from registration
is in the opinion of counsel to Innodata not available in respect of such issuance, Innodata shall use its best efforts to effect
and maintain registration of the Consideration Shares, in which case the out-of-pocket costs and expenses relating to such registration
shall be to the account of the holders of the Consideration Shares provided that if the failure of such exemption from registration
to be available is as a result of an action or inaction of Innodata, such out-of-pocket costs and expenses shall be to the account
of Innodata.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">2)</TD><TD STYLE="text-align: justify"><U>Unconditional Release</U>. In consideration for entering into this Amendment, each Seller (each
individually a &ldquo;Releasor&rdquo;) hereby acknowledges and agrees that except with respect to the portion of the Earnout Amount
that such Releasor may be entitled to receive on the 2017 Earnout Payment Date and the 2018 Earnout Payment Date pursuant to this
Amendment, each Releasor hereby remises, releases and forever discharges each of MediaMiser Ltd., the Purchaser, and Innodata Inc.
(collectively, the &ldquo;Releasees&rdquo;) of and from all actions, causes of action, suits, debts, duties, accounts, bonds covenants,
contracts, claims and demands whatsoever (hereinafter referred to as &ldquo;Claims&rdquo;) which a Releasor now has or hereafter
can, shall or may have for or by reason of or in any way arising out of any cause, matter or thing whatsoever and in particular,
without in any way limiting the generality of the foregoing, for or by reason of or in any way arising out of any and all claims
for moneys, advances, bonuses (including, without limitation, retention bonuses), incentive pay, participation in profits or earnings
or any other remuneration, arising from or related to the Agreement or this Amendment. Each Releasor hereby declares, covenants
and agrees that the undersigned has reviewed and fully understands the terms and binding effect of this release, and that there
is no representation, warranty, collateral agreement or condition affecting this release other than as expressed in the Amendment
in writing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">3)</TD><TD STYLE="text-align: justify"><U>Independent Legal Counsel</U>. Each Seller acknowledges, confirms, and agrees that such Seller
had the opportunity to seek and was not prevented nor discouraged by any Party from seeking independent legal advice prior to the
execution and delivery of this Amendment and that, in the event that such Seller did not avail himself or herself with that opportunity
prior to signing this Amendment, such Seller did so voluntarily without any undue pressure and agrees that such Party&rsquo;s failure
to obtain independent legal advice should not be used by him or her as a defence to the enforcement of such Party&rsquo;s obligations
under this Amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">4)</TD><TD STYLE="text-align: justify"><U>No Other Amendment</U>. All other terms and conditions of the Agreement that are not expressly
amended by this Amendment shall remain in full force and effect without other or further amendment or modification.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">5)</TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Amendment may be executed in multiple counterparts, and any party hereto
may execute any such counterpart, each of which when executed and delivered shall be deemed to be an original and all of which
counterparts taken together shall constitute but one and the same instrument. This Amendment shall become effective when each party
hereto shall have received a counterpart hereof or thereof signed by the other party hereto. The parties agree that the delivery
of this Amendment, and any other agreements and documents contemplated hereby, may be affected by means of an exchange of facsimile
or electronically transmitted signatures (including in portable document format (pdf)).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the Parties have duly
executed this Amendment as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>COMPANY:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>MEDIAMISER LTD.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: left; text-indent: 0">/s/ O&rsquo;Neil Nalavadi</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Authorized Signatory</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>INNODATA:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>INNODATA INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Per:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: left; text-indent: 0">/s/ Jack Abuhoff</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><B>SELLERS:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Mark Durand</TD>
    <TD STYLE="width: 20%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Brett Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Brett Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Mark Durand</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Kelly Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Kelly Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Mark Zurawski</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Chris Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Chris Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Jenny Nijhoff</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Leanne Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Leanne Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Brian Salisbury</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Glen Sloan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Glen Sloan</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Brian Salisbury</TD>
    <TD STYLE="width: 20%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Carya Cunningham</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Carya Cunningham</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Mark Zurawski_</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Martin Lyster</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Martin Lyster</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ <FONT STYLE="color: #212121">Allison Geffen</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s Michael Geist</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Michael Geist</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ <FONT STYLE="color: #212121">M. Kroutikov</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ David Nadeau</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">David Nadeau</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; padding: 0; text-align: justify; text-indent: 0"><B>TRUST:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><B>MEDIAMISER LTD. EMPLOYEE TRUST</B>, by its Trustees:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Brett Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Brett Serjeantson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Chris Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Chris Morrison</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Martin Lyster</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Martin Lyster</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SELLERS&rsquo; REPRESENTATIVE:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Mark Zurawski</TD>
    <TD STYLE="width: 20%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0; text-align: justify; text-indent: 0">/s/ Martin Lyster</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Witness</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Martin Lyster</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM OF ESTOPPEL CERTIFICATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_____________ ___, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Seller:&#9;__________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;[Name of Seller]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; text-indent: 0">To:</TD>
    <TD STYLE="padding: 0; text-indent: 0">MediaMiser Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Attention: Office of the General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Fax No.: (201) 488-8249</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; text-align: justify; text-indent: 0">Re:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Re: Amendment No. 1 to Share Purchase Agreement (the &ldquo;Agreement&rdquo;) dated as of September 30, 2016 (the &ldquo;Amendment&rdquo;, and together with the Agreement, the &ldquo;Amended Agreement&rdquo;)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I understand that the obligation of the
Company to pay to me [<I>insert as applicable</I>: and to my spouse] any portion of the Earnout Amount is conditioned upon my meeting
the conditions precedent set forth in Section 2.3(b) of the Amended Agreement. Capitalized terms not defined in this certificate
have the meanings set forth in the Amended Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I hereby certify to the Company and to
Innodata Inc. as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Agreement is in good standing and in full force and effect and has not been modified or amended, except as set forth in the Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
have at all times satisfied the conditions set forth on Section 2.3(b) of the Amended Agreement as applicable to me.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
violation or default has occurred under the Confidentiality, Non-Solicitation and Non-Competition Provisions set forth in Sections
6 and 7 of the Executive Employment Agreement to which I am a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
violation or default has occurred under the Non-Competition and Non-Solicitation Agreement to which I am a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<I>Include
for 2017 Earnout Payment</I>]: Except with respect to the payment of $_____ to which I am entitled to receive on the 2017 Earnout
Payment Date, and that portion of the Earnout Amount that I may be entitled to receive on the 2018 Earnout Payment Date, I have
received all payments and other consideration to which I am entitled and there are no amounts or other consideration owed to me
pursuant to the Amended Agreement. I agree that upon payment to me of the amount of $_____ on the 2017 Earnout Payment Date I shall
have received that portion of the Earnout Amount to which I am entitled with respect to the 2017 Earnout Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<I>Include
for 2018 Earnout Payment</I>]: Except with respect to the payment of $_____ to which I am entitled to receive on the 2018 Earnout
Payment Date, I have received all payments and other consideration to which I am entitled and there are no amounts or other consideration
owed to me pursuant to the Amended Agreement. I agree that upon payment to me of the amount of $_____ on the 2017 Earnout Payment
Date I shall have received that portion of the Earnout Amount to which I am entitled with respect to the 2018 Earnout Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
am not owed any incentives, bonuses or other variable compensation from the Company or any of its affiliates; and (ii) I have no
dispute or claim (asserted or unasserted) against the Company or its affiliates related to incentives, bonuses or variable compensation
and/or the administration or communication of programs or arrangements related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no defaults of the Company, Innodata Inc. or any of Innodata Inc.&rsquo;s affiliates under the Amended Agreement or any existing
conditions, which upon the giving of notice or lapse of time or both would constitute a default under the Amended Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: ____________ ____, 20__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 13%; padding: 0; text-indent: 0">Seller:</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">Signature of Seller</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Printed Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>


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