INVESTMENT
MANAGEMENT TRUST AGREEMENT

     

    This
INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Agreement”) is made
as of [●], 2011 by and between Lone Oak Acquisition Corporation (the “Company”) and
Continental Stock Transfer & Trust Company (the “Trustee”).

     

    WHEREAS,
the Company’s Registration Statement on Form F−1, No. 333-______ (the “Registration
Statement”), relating to the Company’s initial public offering of
securities (“IPO”) has been
declared effective as of the date hereof by the Securities and Exchange
Commission (the “Effective
Date”);

     

    WHEREAS,
EarlyBirdCapital, Inc. is acting as the underwriter (the “Underwriter”) in the
IPO;

     

    WHEREAS,
the Company will complete a private placement of an aggregate of 6,600,000
warrants at a price of $0.35 per warrant (the “Private Placement”)
simultaneously with the completion of the IPO;

     

    WHEREAS,
as described in the Registration Statement, and in accordance with the Company’s
Amended and Restated Memorandum and Articles of Association, $32,640,000 of the
net proceeds of the IPO and the Private Placement ($37,272,000 if the
Underwriter’s over-allotment option is exercised in full), will be delivered to
the Trustee to be deposited and held in a trust account for the benefit of the
Company and the holders of the Company’s ordinary shares, par value $0.001,
issued in the IPO.  The amount to be delivered to the Trustee will be
referred to herein as the “Property,” and the
parties for whose benefit the Trustee shall hold the Property will be referred
to together with the Company as the “Beneficiaries”;
and

     

    WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the
terms and conditions pursuant to which the Trustee shall hold the
Property.

     

    NOW,
THEREFORE, in consideration of the premises herein contained and other good and
valuable consideration, the sufficiency of which is hereby acknowledged, the
parties agree as follows:

     

    1.      Agreement
and Covenants of Trustee

     

    The
Trustee hereby agrees and covenants to:

     

    (a)    Hold
the Property in trust for the Beneficiaries in accordance with the terms of this
Agreement in a segregated trust account (the “Trust Account”)
established by the Trustee at a branch of CitiBank, N.A.;

     

    (b)    Manage,
supervise and administer the Trust Account subject to the terms and conditions
set forth herein;

     

    (c)    In
a timely manner, upon the instruction of the Company, to invest and reinvest the
Property in United States “government securities” within the meaning of Section
2(a)(16) of the Investment Company Act of 1940 having a maturity of 180 days or
less and/or in any open ended investment company registered under the Investment
Company Act of 1940 that holds itself out as a money market fund, selected by
the Company meeting the conditions of Rule 2a-7 promulgated under the Investment
Company Act of 1940;


    
      
         


      

      
        
        

        
          

        

      

      
         


      

    


    (d)    Collect
and receive, when due, all principal and income arising from the Property, which
shall become part of the Property, as such term is used herein;

     

    (e)    Promptly
notify the Company and the Underwriter of all communications received by it with
respect to any Property requiring action by the Company;

     

    (f)     Supply
any necessary information or documents as may be requested by the Company in
connection with the Company’s preparation of its tax returns;

     

    (g)    Participate
in any plan or proceeding for protecting or enforcing any right or interest
arising from the Property if, as and when instructed by the Company and/or the
Underwriter to do so;

     

    (h)    Render
to the Company and to the Underwriter, and to such other person as the Company
may instruct, monthly written statements of the activities of and amounts in the
Trust Account reflecting all receipts and disbursements of the Trust
Account;

     

    (i)     Commence
liquidation of the Trust Account only after receipt of and only in accordance
with the terms of a letter (the “Termination Letter”),
in a form substantially similar to that attached hereto as either Exhibit A or
Exhibit B, signed on behalf of the Company by its Chief Executive Officer or
Chairman or other authorized officer, and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account only as directed in the
Termination Letter and the other documents referred to therein (including the
“Instruction Letter” from the Company and the Underwriter with respect to the
transfer of the funds held in the Trust Account upon consummation of a Business
Combination); provided, however, that in the event that a Termination Letter has
not been received by the Trustee by the 18-month anniversary of the closing
(“Closing”) of the IPO (“First Date”), or the 24-month anniversary of the
Closing (“Last Date”) in the event that a definitive agreement for a Business
Combination has been executed on or prior to the First Date but the Business
Combination has not been consummated by the Last Date, the Trust Account shall
be liquidated in accordance with the procedures set forth in the Termination
Letter attached as Exhibit B hereto and distributed to the stockholders of
record, other than the Company’s shareholders prior to the IPO, on the Last
Date; and

     

    (j)     Distribute
the funds as directed in any Tax Disbursement Letter, Disbursement Letter or
Repurchase Notification Letter (each as defined in paragraph 3(c)
below).

     

    2.      Agreements
and Covenants of the Company

     

    The
Company hereby agrees and covenants to:

     

    (a)    Give
all instructions to the Trustee hereunder in writing, signed by the Company’s
Chief Executive Officer.  In addition, except with respect to its
duties under paragraph 1(i) above, the Trustee shall be entitled to rely on, and
shall be protected in relying on, any verbal or telephonic advice or instruction
which it in good faith believes to be given by any one of the persons authorized
above to give written instructions, provided that the Company shall promptly
confirm such instructions in writing;

     

    (b)    Subject
to the provisions of Section 6(h) of this Agreement, hold the Trustee harmless
and indemnify the Trustee from and against any and all expenses, including
reasonable counsel fees and disbursements, or loss suffered by the Trustee in
connection with any action, suit or other proceeding brought against the Trustee
involving any claim, or in connection with any claim or demand which in any way
arises out of or relates to this Agreement, the services of the Trustee
hereunder, or the Property or any income earned from investment of the Property,
except for expenses and losses resulting from the Trustee’s gross negligence or
willful misconduct.  Promptly after the receipt by the Trustee of
notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this
paragraph, it shall notify the Company in writing of such claim (hereinafter
referred to as the “Indemnified
Claim”).  The Trustee shall have the right to conduct and
manage the defense against such Indemnified Claim, provided, that the Trustee
shall obtain the consent of the Company with respect to the selection of
counsel, which consent shall not be unreasonably withheld.  The
Company may participate in such action with its own counsel;


    
      
         


      

      
        2

        
          

        

      

      
         


      

    


    (c)    Pay
the Trustee an initial acceptance fee of $[●] and an annual fee of $[●] (it
being expressly understood that the Property shall not be used to pay such
fee).  The Company shall pay the Trustee the initial acceptance fee
and first year’s fee at the consummation of the IPO and thereafter shall pay the
annual fee on each anniversary of the Effective Date.  The Trustee
shall refund to the Company the fee (on a pro rata basis) with respect to any
period after the liquidation of the Trust Account.  The Company shall
not be responsible for any other fees or charges of the Trustee except as may be
provided in paragraph 2(b) hereof (it being expressly understood that the
Property shall not be used to make any payments to the Trustee under such
paragraph);

     

    (d)    In
connection with any vote of the Company’s shareholders regarding a Business
Combination, provide to the Trustee an affidavit or certificate of a firm
regularly engaged in the business of soliciting proxies and tabulating
stockholder votes (which firm may be the Trustee) verifying the vote of the
Company’s stockholders regarding such Initial Business Combination;

     

    (e)    In
all cases, provide the Underwriter with a copy of any Termination Letters and/or
any other correspondence that it sends to the Trustee with respect to any
proposed withdrawal from the Trust Account promptly after it issues the same;
and

     

    3.    Limited
Distribution of Income and Trust Account Property.

     

    (a)  Upon
written request from the Company, which may be given from time to time in a form
substantially similar to that attached hereto as Exhibit C (a “Tax Disbursement
Letter”), the Trustee shall distribute to the Company interest earned on
the Property in an amount necessary to cover any income tax obligation owed by
the Company;

     

    (b)  Upon
written request from the Company, which may be given from time to time in a form
substantially similar to that attached hereto as Exhibit D (a “Disbursement
Letter”), the Trustee shall distribute to the Company interest earned on
the Property in an amount requested by the Company to cover expenses related to
investigating and selecting a target business and other working capital
requirements; provided, however, that the Company will not be allowed to
withdraw interest income earned on the Trust Account unless there are sufficient
funds available to pay the Company’s tax obligations on such interest income or
otherwise then due at that time; and

     

    (c)  Pursuant
to the Company’s 10b5-1 Plan, upon written request from the Company, which may
be given from time to time commencing 61 days after the date hereof and ending
on the date immediately prior to the date on which a vote is held to approve a
proposed Business Combination, provided that such repurchases will be suspended
if we decide to engage in a tender offer, in a form substantially similar to
that attached as Exhibit E (a “Repurchase Notification
Letter”), the Trustee shall distribute to the Company the amount
necessary for it to purchase up to 2,000,000 shares (or up to 2,300,000 shares
if the over-allotment option in the IPO is exercised in full (in either case,
such amount being referred to as the “Maximum Amount”)), at
prices (including commissions) not to exceed $7.75 per share (such price being
referred to as the “Maximum Price”);
and


    
      
         


      

      
        3

        
          

        

      

      
         


      

    


    (d)  
 The limited distributions referred to in paragraphs 3(a) and 3(b)
above shall be made only from interest and any other income collected on the
Property. Except as provided in paragraphs 3(a), 3(b) and 3(c) above, no
other distributions from the Trust Account shall be permitted except in
accordance with paragraph 1(i) hereof.

     

    4.      Limitations
of Liability.

     

    The
Trustee shall have no responsibility or liability to:

     

    (a)    take
any action with respect to the Property, other than as directed in
paragraphs 1 and 3 hereof and the Trustee shall have no liability to any
party except for liability arising out of its own gross negligence or willful
misconduct;

     

    (b)    institute
any proceeding for the collection of any principal and income arising from, or
institute, appear in or defend any proceeding of any kind with respect to, any
of the Property unless and until it shall have received instructions from the
Company given as provided herein to do so and the Company shall have advanced or
guaranteed to it funds sufficient to pay any expenses incident
thereto;

     

    (c)    change
the investment of any Property, other than in compliance with paragraph
1(c);

     

    (d)    refund
any depreciation in principal of any Property;

     

    (e)    assume
that the authority of any person designated by the Company to give instructions
hereunder shall not be continuing unless provided otherwise in such designation,
or unless the Company shall have delivered a written revocation of such
authority to the Trustee;

     

    (f)     the
other parties hereto or to anyone else for any action taken or omitted by it, or
any action suffered by it to be taken or omitted, in good faith and in the
exercise of its own best judgment, except for its gross negligence or willful
misconduct.  The Trustee may rely conclusively and shall be protected
in acting upon any order, notice, demand, certificate, opinion or advice of
counsel (including counsel chosen by the Trustee), statement, instrument, report
or other paper or document (not only as to its due execution and the validity
and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which is believed by the Trustee, in good
faith, to be genuine and to be signed or presented by the proper person or
persons.  The Trustee shall not be bound by any notice or demand, or
any waiver, modification, termination or rescission of this Agreement or any of
the terms hereof, unless evidenced by a written instrument delivered to the
Trustee signed by the proper party or parties and, if the duties or rights of
the Trustee are affected, unless it shall give its prior written consent
thereto;

     

    (g)    verify
the correctness of the information set forth in the Registration Statement or to
confirm or assure that any acquisition made by the Company or any other action
taken by it is as contemplated by the Registration Statement;

     

    (h)    subject
to the requirements of paragraph 3 of this Agreement, pay any taxes on behalf of
the Trust Account to any governmental entity or taxing authority;

     

    (i)     file
local, state and/or Federal tax returns or information returns with any taxing
authority on behalf of the Trust Account and payee statements with the Company
documenting the taxes, if any, payable by the Company or the Trust Account,
relating to the income earned on the Property.


    
      
         


      

      
        4

        
          

        

      

      
         


      

    


    (j)     pay
any taxes on behalf of the Trust Account (it being expressly understood that the
Property shall not be used to pay any such taxes and that such taxes, if any,
shall be paid by the Company from funds not held in the Trust Account or from
income earned on the Trust Account).

     

    (k)    imply
obligations, perform duties, inquire or otherwise be subject to the provisions
of any agreement or document other than this Agreement and that which is
expressly set forth herein.

     

    (l)     verify
calculations, qualify or otherwise approve Company requests for distributions
pursuant to Sections 1(i), 1(j), 3(a), 3(b) or 3(c) above..

     

    5.      Termination.

     

    This
Agreement shall terminate as follows:

     

    (a)    If
the Trustee gives written notice to the Company that it desires to resign under
this Agreement, the Company shall use its reasonable efforts to locate a
successor trustee during which time the Trustee shall act in accordance with
this Agreement.  At such time that the Company notifies the Trustee
that a successor trustee has been appointed by the Company and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the
management of the Trust Account to the successor trustee, including but not
limited to the transfer of copies of the reports and statements relating to the
Trust Account, whereupon this Agreement shall terminate; provided, however,
that, in the event that the Company does not locate a successor trustee within
ninety days of receipt of the resignation notice from the Trustee, the Trustee
may submit an application to have the Property deposited with the United States
District Court for the Southern District of New York and upon such deposit, the
Trustee shall be immune from any liability whatsoever that arises due to any
actions or omissions to act by any party after such deposit; or

     

    (b)    At
such time that the Trustee has completed the liquidation of the Trust Account in
accordance with the provisions of paragraph 1(i) hereof, and distributed the
Property in accordance with the provisions of the Termination Letter, this
Agreement shall terminate except with respect to paragraph 2(b).

     

    6.      Miscellaneous.

     

    (a)    In
executing funds transfers, the Trustee will rely upon account numbers or other
identifying numbers of a beneficiary, beneficiary’s bank or intermediary bank,
rather than names.  The Trustee shall not be liable for any loss,
liability or expense resulting from any error in an account number or other
identifying number, provided it has accurately transmitted the numbers
provided.

     

    (b)    This
Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of
laws.  It may be executed in several counterparts, each one of which
shall constitute an original, and together shall constitute but one
instrument.

     

    (c)    This
Agreement contains the entire agreement and understanding of the parties hereto
with respect to the subject matter hereof.  Except for Sections 1(i),
1(j), 3(a), 3(b) and 3(c), this Agreement or any provision hereof may only be
changed, amended or modified by a writing signed by each of the parties hereto;
provided, however, that no such change, amendment or modification may be made
without the prior written consent of the Underwriter, which the parties
specifically agree is and shall be a third party beneficiary for purposes of
this Agreement.  As to any claim, cross-claim or counterclaim in any
way relating to this Agreement, each party waives the right to trial by
jury.


    
      
         


      

      
        5

        
          

        

      

      
         


      

    


    (d)    The
parties hereto consent to the jurisdiction and venue of any state or federal
court located in the City of New York for purposes of resolving any disputes
hereunder.

     

    (e)    Any
notice, consent or request to be given in connection with any of the terms or
provisions of this Agreement shall be in writing and shall be sent by express
mail or similar private courier service, by certified mail (return receipt
requested), by hand delivery or by facsimile transmission:

     

    if to the
Trustee, to:

     

    [____________________]

    [____________________]

    [____________________]

    [____________________]

    Fax No.:
[●]

    Attn:
[●]

    


    if to the
Company, to:

     

    Lone Oak
Acquisition Corporation

    Room 1708
Dominion Centre

    43-59
Queen’s Road East

    Wanchai,
Hong Kong

    Fax No.:
[  •  ]

    Attn:
Baris Merzeci, Chief Executive Officer

    


    in either
case with a copy to:

     

    EarlyBirdCapital,
Inc.

    275
Madison Avenue, 27th
Floor

    New York,
NY 10016

    Fax No:
[  •  ]

    Attn:
Steven Levine

    


    and

    


    Loeb
& Loeb LLP

    345 Park
Avenue

    New York,
NY 10154

    Fax No.:
(212) 407-4990

    Attn:
Mitchell S. Nussbaum, Esq.


    


    and

    


    Graubard
Miller

    The
Chrysler Buidling

    405
Lexington Avenue, 19th
Floor

    New York,
NY 10174

    Fax No.:
(212) 818-8000

    Attn:
David Alan Miller, Esq.


    
      
         


      

      
        6

        
          

        

      

      
         


      

    

    


    (f)     This
Agreement may not be assigned by the Trustee without the prior written consent
of the Company and the Underwriter.

     

    (g)    Each
of the Trustee and the Company hereby represents that it has the full right and
power and has been duly authorized to enter into this Agreement and to perform
its respective obligations as contemplated hereunder.

     

    (h)    The
Trustee  waives any right of set-off or any right, title, interest or
claim of any kind that the Trustee may have against the Property held in the
Trust Account, and acknowledges and agrees that it shall not make any claims or
proceed against the Trust Account, including by way of set-off, and shall not be
entitled to any funds in the Trust Account under any circumstance. In the event
the Trustee has a claim against the Company under this Agreement, including,
without limitation, under paragraph 2(b), the Trustee will pursue such
claim solely against the Company and not against the Property held in the Trust
Account.

     

    [Signature Page
Follows]


    
      
         


      

      
        7

        
          

        

      

      
         


      

    


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

     

    [________________________________]

    


    
      
        
          	
                  By:

                	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                


        

      

    

     

    LONE OAK
ACQUISITION CORPORATION


     

    
      
        
          	
                  By:

                	 
      
	 
      	
                  Name:
      Baris Merzeci

                
	 
      	
                  Title:
      Chief Executive Officer

                


        

      

    

     

    
      
         


      

      
        
          (Signature
Page)

        

        
          

        

      

      
         


      

    


    Exhibit
A

     

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Transfer
Agent]

    [Address]


     

    Re: Trust Account No. [●]
Termination Letter

     

    Gentlemen:

     

    Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Lone Oak
Acquisition Corporation (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as
of [●], 2011 (the “Trust Agreement”),
this is to advise you that the Company has entered into an agreement (the “Business Agreement”)
with [●] (the “Target
Business”) to consummate a business combination with the Target Business
(the “Business
Combination”) on or about [●].  The Company shall notify you at
least 48 hours in advance of the actual date of the consummation of the Business
Combination (the “Consummation
Date”).

     

    In
accordance with the terms of the Trust Agreement, we hereby authorize you to
commence liquidation of the Trust Account to the effect that, on the
Consummation Date, all of funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct
on the Consummation Date.

     

    On the
Consummation Date: (i) counsel for the Company shall deliver to you written
notification that the Business Combination has been consummated and (ii) the
Company shall deliver to you [(a) [an affidavit] [a certificate] of _________,
which verifies the vote of the Company’s shareholders in connection with the
Business Combination and (b)]1 joint written
instructions from the Company and EarlyBirdCapital, Inc., the underwriter of the
Company’s initial public offering, with respect to the transfer of the funds
held in the Trust Account (the “Instruction
Letter”).  You are hereby directed and authorized to transfer
the funds held in the Trust Account immediately upon your receipt of written
notice from counsel and the Instruction Letter in accordance with the terms of
the Instruction Letter.  In the event that certain deposits held in
the Trust Account may not be liquidated by the Consummation Date without
penalty, you will notify the Company of the same, and the Company and the
Underwriter shall jointly direct you as to whether such funds should remain in
the Trust Account and be distributed after the Consummation Date to the Company
or be distributed immediately and the penalty incurred.  Upon the
distribution of all the funds in the Trust Account pursuant to the terms hereof,
the Trust Agreement shall be terminated and the Trust Account
closed.

     

    In the
event that the Business Combination is not consummated on the Consummation Date
described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then the funds held in
the Trust Account shall be reinvested as provided in the Trust Agreement on the
business day immediately following the Consummation Date as set forth in the
notice.

    

      
        


    

    
      
        1 Include
only if there is a shareholder vote.

      

    


    
      
         


      

      
        A-1

        
          

        

      

      
         


      

    


    Very
truly yours,

     

    LONE OAK
ACQUISITION CORPORATION

     

    
      
        
          
            
              	
                      By:

                    	 
      
	 
      	
                      Name:

                    
	 
      	
                      Title:

                    
	 
      	 
      
	
                      Affirmed:

                    
	 
      	 
      
	
                      By:

                    	 
      
	 
      	
                      Name:

                    
	 
      	
                      Title:

                    


            

          

        

      

    

     

    
      	
              cc:

            	
              EarlyBirdCapital,
      Inc.

            


    

     

    
      
         


      

      
        A-2

        
          

        

      

      
         


      

    


    Exhibit
B

     

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re: Trust Account No. [●]
Termination Letter

     

    Gentlemen:

     

    Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Lone Oak
Acquisition Corporation (the “Company”) and
[_____________] (the “Trustee”), dated as
of [●], 2011 (the “Trust Agreement”),
this is to advise you that (i) the Company has been unable to effect a Business
Combination within the time frame specified in the Amended and Restated Articles
of Association of the Company and (ii) the Company is proceeding to liquidate
the Trust Account.

     

    Capitalized
terms used but not defined herein shall have the meanings given them in the
Trust Agreement.

     

    In
accordance with the terms of the Trust Agreement, we hereby authorize and
request that you commence liquidation of the Trust Account as part of the
Company’s plan of dissolution and distribution.  In connection with
this liquidation, you are hereby authorized to establish a record date for the
purposes of determining the stockholders of record entitled to receive their per
share portion of the Trust Account.  The record date shall be within
10 days of the liquidation date, or as soon thereafter as is
practicable.  Company has appointed [●] to serve as its designated
paying agent (the “Designated Paying
Agent”). You will notify the Company and the Designated Paying Agent in
writing as to when all of the funds in the Trust Account will be available for
immediate transfer (the “Transfer
Date”).  The Designated Paying Agent shall thereafter notify
you as to the account or accounts of the Designated Paying Agent that the funds
in the Trust Account should be transferred to on the Transfer Date so that the
Designated Paying Agent may commence distribution of such funds in accordance
with the Company’s instructions.


    
      
         


      

      
        B-1

        
          

        

      

      
         


      

    


    You shall
have no obligation to oversee the Designated Paying Agent’s distribution of the
funds.  Upon the payment to the Designated Paying Agent of all the
funds in the Trust Account, the Trust Agreement shall be terminated and the
Trust Account closed.

     

    Very
truly yours,

     

    LONE OAK
ACQUISITION CORPORATION


     

    
      
        
          
            	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  
	 
      
	
                    Affirmed:

                  
	 
      
	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  


          

        

      

    

     

    
      	
              cc:

            	
              EarlyBirdCapital,
      Inc.

            


    

     

    
      
         


      

      
        B-2

        
          

        

      

      
         


      

    


    Exhibit
C

     

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]


     

    Re: Trust Account No. [●] Tax
Disbursement Letter

     

    Gentlemen:

     

    Pursuant
to paragraph 3(a)(i) of the Investment Management Trust Agreement between Lone
Oak Acquisition Corporation (the “Company”) and
[______________] (the “Trustee”) dated as of
[●] (the “Trust
Agreement”), this is to advise you that the Trust Account, as defined in
the Trust Agreement, has incurred a total of [●] in taxes (the “Tax Payments”) for
the period from [●], 200[●] to [●], 200[●] (the “Tax Period”) as a
result of interest and other income earned on the Property, as defined in the
Trust Agreement or other tax obligations of the Company, in each case during the
Tax Period.

     

    In
accordance with the terms of the Trust Agreement, we hereby authorize you to
distribute from the Trust Account interest income earned on  the
Property (as defined in the Trust Agreement) equal to the aggregate Tax Payments
on such dates, in such amounts and to such payees as indicated on the Schedule
of Tax Payments attached hereto as Schedule 1.  All checks should be
delivered to the Company at [address].

     

    Very
truly yours,

     

    LONE OAK
ACQUISITION CORPORATION


     

    
      
        
          
            	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  
	 
      
	
                    Authorized
      Counsel Signatory:

                  
	 
      
	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  


          

        

      

    

     

    
      	
              cc:

            	
              EarlyBirdCapital,
      Inc.

            


    

     

    
      
         


      

      
        C-1

        
          

        

      

      
         


      

    


    Schedule
1

     

    Schedule
of Tax Payments

    


    Payment
Date:  [●]

    Amount:  [●]

    Payee:  [●]

     


    Payment
Date: [●]

    Amount:  [●]

    Payee:  [●]


    


    Payment
Date:  [●]

    Amount:  [●]

    Payee:  [●]


    
      
         


      

      
        C-2

        
          

        

      

      
         


      

    


    Exhibit
D

     

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re: Trust Account No. [●]
Disbursement Letter

     

    Gentlemen:

     

    Pursuant
to paragraph 3(b) of the Investment Management Trust Agreement between Lone
Oak Acquisition Corporation (the “Company”) and
[_____________________] dated as of [●] (the “Trust Agreement”), we
hereby authorize you to disburse from the Trust Account interest income earned
on the Property, as defined in the Trust Agreement, equal to $[●], to [●] via
wire transfer on [●], 200[●].  The Company needs such funds to cover
its expenses relating to investigating and selecting a target business and other
working capital requirements.


     

    Very
truly yours,

     

    LONE OAK
ACQUISITION CORPORATION

     

    
      
        
          
            	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  
	 
      
	
                    Authorized
      Counsel Signatory:

                  
	 
      
	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  


          

        

      

    

    


    cc:   EarlyBirdCapital,
Inc.



    
      
         


      

      
        D-1

        
          

        

      

      
         


      

    

    


    Exhibit
E

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re: Trust Account No. [●]
Purchases of Shares

     

    Gentlemen:

     

    Pursuant
to paragraph 3(c) of the Investment Management Trust Agreement between Lone
Oak Acquisition Corporation (the “Company”) and
[_________] dated as of [●] (the “Trust Agreement”),
pursuant to the instructions attached hereto as Schedule A, you are instructed
to distribute funds held in the Trust Account to those shareholders listed on
Schedule A, from whom the Company has made purchases of Shares at a price of
$___ per Share, including commissions (the “Purchase Price”)
pursuant to the Company’s 10b5-1 Plan.  The Purchase Price is equal to
or below the Maximum Price (as defined in the Trust
Agreement).  Additionally, the Shares, together with any Shares
previously purchased by the Company pursuant to paragraph 3(c) of the Trust
Agreement, do not exceed the Maximum Amount (as defined in the Trust
Agreement).


    


    LONE OAK
ACQUISITION CORPORATION

     

    
      
        
          
            	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  
	 
      
	
                    Authorized
      Counsel Signatory:

                  
	 
      
	
                    By:

                  	 
      
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  


          

        

      

    

    


    cc:    EarlyBirdCapital,
Inc.


    
      
         


      

      
        E-1