Document:

Unassociated Document

    
       

      EXHIBIT
4.4

      

      WARRANT
AGREEMENT

      

      Agreement made as of ________, 2008
between Asia Select Acquisition I Corp., a Cayman Islands limited life exempted
company, with offices at 20/F., China Merchants Limited, No. 303-307 Des Voeux
Road Central, Hong Kong (“Company”), and Continental Stock Transfer & Trust
Company, a New York corporation, with offices at 17 Battery Place, New York, New
York 10004 (“Warrant Agent”).

      

      WHEREAS, the Company has received a
binding commitment from Asia Select Asset Management Limited (Hong Kong),
Michael Evans, Min Kuang, Hui Qing Wang, Cheng Hu, You Shan Wang, Dwane
Brosseau, Ian McDougall, R.S. Doman, Zong Yi Yang, Jian Hong Zhang, Yuan Hu
Chen, Zhou Wu Qiang, Yuan Hu Chen, Zhou Wu Qiang, Lei Wu, Leanna Doane, Yu Mei,
John Lau and Xiao Hong Jiang (the “Insiders”), to purchase an aggregate of
1,660,000 warrants (“Insider Warrants”) pursuant to Subscription Agreements (the
“Subscription Agreement”); and

      

      WHEREAS, the Company is engaged in a
public offering (“Public Offering”) of units, each unit comprised of one
Ordinary Share (as defined below) and one Public Warrant (as defined below) (the
“Units”) and, in connection therewith, has determined to issue and deliver up to
(i) 4,600,000 Warrants (“Public Warrants”) to the public investors, and (ii)
400,000 Warrants to EarlyBirdCapital, Inc. (“EBC”) or its designees
(“Representative’s Warrants” and, together with the Public Warrants and Insider
Warrants, the “Warrants”), each of such Warrants evidencing the right of the
holder thereof to purchase one ordinary share of the Company, par value $.001
per share (“Ordinary Share”), for $5.00, subject to adjustment as described
herein; and

      

      WHEREAS, the Company has filed with the
Securities and Exchange Commission a Registration Statement on Form F-1, No.
333-______ (“Registration Statement”), for the registration, under the
Securities Act of 1933, as amended (“Act”) of, among other securities, the
Warrants and the Ordinary Shares issuable upon exercise of the Warrants;
and

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      WHEREAS, the Company desires the
Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing
to so act, in connection with the issuance, registration, transfer, exchange,
redemption and exercise of the Warrants; and

      

      WHEREAS, the Company desires to provide
for the form and provisions of the Warrants, the terms upon which they shall be
issued and exercised, and the respective rights, limitation of rights, and
immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

      

      WHEREAS, all acts and things have been
done and performed which are necessary to make the Warrants, when executed on
behalf of the Company and countersigned by or on behalf of the Warrant Agent, as
provided herein, the valid, binding and legal obligations of the Company, and to
authorize the execution and delivery of this Agreement.

      

      NOW, THEREFORE, in consideration of the
mutual agreements herein contained, the parties hereto agree as
follows:

      

      1. Appointment of Warrant
Agent.  The Company hereby appoints the Warrant Agent to act as
agent for the Company for the Warrants, and the Warrant Agent hereby accepts
such appointment and agrees to perform the same in accordance with the terms and
conditions set forth in this Agreement.

      

      2. Warrants.

      

      2.1. Form of
Warrant.  Each Warrant shall be issued in registered form only,
shall be in substantially the form of Exhibit A hereto, the provisions of which
are incorporated herein and shall be signed by, or bear the facsimile signature
of, the Chairman of the Board or President and Treasurer, Secretary or Assistant
Secretary of the Company and shall bear a facsimile of the Company’s seal. In
the event the person whose facsimile signature has been placed upon any Warrant
shall have ceased to serve in the capacity in which such person signed the
Warrant before such Warrant is issued, it may be issued with the same effect as
if he or she had not ceased to be such at the date of issuance.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      2.2. Effect of
Countersignature.  Unless and until countersigned by the
Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no
effect and may not be exercised by the holder thereof.

      

      2.3. Registration.

      

      2.3.1. Warrant
Register.  The Warrant Agent shall maintain books (“Warrant
Register”), for the registration of original issuance and the registration of
transfer of the Warrants.  Upon the initial issuance of the Warrants,
the Warrant Agent shall issue and register the Warrants in the names of the
respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company.

      

      2.3.2. Registered
Holder.  Prior to due presentment for registration of transfer
of any Warrant, the Company and the Warrant Agent may deem and treat the person
in whose name such Warrant shall be registered upon the Warrant Register
(“registered holder”) as the absolute owner of such Warrant and of each Warrant
represented thereby (notwithstanding any notation of ownership or other writing
on the Warrant Certificate made by anyone other than the Company or the Warrant
Agent), for the purpose of any exercise thereof, and for all other purposes, and
neither the Company nor the Warrant Agent shall be affected by any notice to the
contrary.

      

      2.4. Detachability of
Warrants.  The securities comprising the Units will not be
separately transferable until 90 days after the date hereof, unless EBC informs
the Company of its decision to allow earlier separate trading, but in no event
will EBC allow separate trading of the securities comprising the Units until the
Company files a Report of Foreign Private Issuer on Form 6-K which includes an
audited balance sheet reflecting the receipt by the Company of the gross
proceeds of the Public Offering including the proceeds received by the Company
from the exercise of the over-allotment option, if the over-allotment option is
exercised prior to the filing of the Form 6-K.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      2.5 Warrant
Attributes.

      2.5.1
Insider
Warrants.  The Insider Warrants will be issued in the same form
as the Public Warrants but they (i) will not be transferable or salable until
the Company completes a business combination, (ii) will be exercisable on a
cashless basis by the Insiders or their affiliates and (iii) may be exercised
for unregistered shares if a registration statement relating to the common stock
issuable upon exercise of the warrants is not effective and
current.

       

      2.5.2.
Representative’s
Warrants.  The Representative’s Warrants shall have the same
terms and be in the same form as the Public Warrants.

      

      3. Terms and Exercise of
Warrants

      

      3.1. Warrant
Price.  Each Warrant shall, when countersigned by the Warrant
Agent, entitle the registered holder thereof, subject to the provisions of such
Warrant and of this Warrant Agreement, to purchase from the Company the number
of Ordinary Shares stated therein, at the price of $5.00 per whole share,
subject to the adjustments provided in Section 4 hereof and in the last sentence
of this Section 3.1.  The term “Warrant Price” as used in this Warrant
Agreement refers to the price per share at which Ordinary Shares may be
purchased at the time a Warrant is exercised.  The Company in its sole
discretion may lower the Warrant Price at any time prior to the Expiration
Date.

      

      3.2. Duration of
Warrants.  A Warrant may be exercised only during the period
(“Exercise Period”) commencing on the later of the consummation by the Company
of a merger, capital stock exchange, asset acquisition or other similar business
combination with an operating company (“Business Combination”) (as described
more fully in the Registration Statement) and ________, 2009, and terminating at
5:00 p.m., New York City time on the earlier to occur of (i) __________, 2013
and (ii) the Redemption Date as provided in Section 6.2 of this Agreement
(“Expiration Date”).  Except with respect to the right to receive the
Redemption Price (as set forth in Section 6 hereunder), each Warrant not
exercised on or before the Expiration Date shall become void, and all rights
thereunder and all rights in respect thereof under this Agreement shall cease at
the close of business on the Expiration Date.  The Company in its sole
discretion may extend the duration of the Warrants by delaying the Expiration
Date.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      3.3. Exercise of
Warrants.

      

      3.3.1. Payment.  Subject
to the provisions of the Warrant and this Warrant Agreement,  a
Warrant, when countersigned by the Warrant Agent, may be exercised by the
registered holder thereof by surrendering it, at the office of the Warrant
Agent, or at the office of its successor as Warrant Agent, in the Borough of
Manhattan, City and State of New York, with the subscription form, as set forth
in the Warrant, duly executed, and by paying in full the Warrant Price for each
full Ordinary Share as to which the Warrant is exercised and any and all
applicable taxes due in connection with the exercise of the Warrant, as
follows:

      

      (a) in
cash, good certified check or good bank draft payable to the order of the
Company (or as otherwise agreed to by the Company);

      

      (b) in
the event of redemption pursuant to Section 6 hereof in which the Company’s
management has elected to force all holders of Warrants to exercise such
Warrants on a “cashless basis,” by surrendering the Warrants for that number of
Ordinary Shares equal to the quotient obtained by dividing (x) the product of
the number of Ordinary Shares underlying the Warrants, multiplied by the
difference between the Warrant Price and the “Fair Market Value” (defined below)
by (y) the Fair Market Value. Solely for purposes of this Section 3.3.1(b), the
“Fair Market Value” shall mean the average reported last sale price of the
Ordinary Shares for the 10 trading days ending on the third trading day prior to
the date on which the notice of redemption is sent to holders of Warrant
pursuant to Section 6 hereof; or

      

      (c) with
respect to any Insider Warrants, in the event of redemption pursuant to Section
6 hereof in which the Company’s management has not elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” so long as such
Insider Warrants are held by the Insiders or their affiliates, by surrendering
the Warrants for that number of Ordinary Shares equal to the quotient obtained
by dividing (x) the product of the number of Ordinary Shares underlying the
Warrants, multiplied by the difference between the Warrant Price and the “Fair
Market Value” (defined below) by (y) the Fair Market Value. Solely for purposes
of this Section 3.3.1(c), the “Fair Market Value” shall mean the average
reported last sale price of the Ordinary Shares for the 5 trading days ending on
the trading day prior to the date of exercise.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      3.3.2. Issuance of
Certificates.  As soon as practicable after the exercise of any
Warrant and the clearance of the funds in payment of the Warrant Price, the
Company shall issue to the registered holder of such Warrant a certificate or
certificates for the number of full Ordinary Shares to which he is entitled,
registered in such name or names as may be directed by him, her or it, and if
such Warrant shall not have been exercised in full, a new countersigned Warrant
for the number of shares as to which such Warrant shall not have been
exercised.  Notwithstanding the foregoing, the Company shall not be
obligated to deliver any securities pursuant to the exercise of a Warrant and
shall have no obligation to settle such Warrant exercise unless a registration
statement under the Act with respect to the Ordinary Shares is effective,
subject to the Company’s satisfying its obligations under Section 7.4. In the
event that a registration statement with respect to the Ordinary Shares
underlying a Warrant is not effective under the Act, the holder of such Warrant
shall not be entitled to exercise such Warrant and such Warrant may have no
value and expire worthless. In no event will the Company be required to net cash
settle the Warrant exercise.  Warrants may not be exercised by, or
securities issued to, any registered holder in any state in which such exercise
would be unlawful. In the event that a registration statement is not effective
for the exercised Public Warrants and Representative’s Warrants, the purchaser
of a Unit containing such Warrants will have paid the full purchase price for
the Unit solely for the Ordinary Share included in such Unit.

      

      3.3.3. Valid
Issuance.  All Ordinary Shares issued upon the proper exercise
of a Warrant in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

      

      3.3.4. Date of
Issuance.  Each person in whose name any such certificate for
Ordinary Shares is issued shall for all purposes be deemed to have become the
holder of record of such shares on the date on which the Warrant was surrendered
and payment of the Warrant Price was made, irrespective of the date of delivery
of such certificate, except that, if the date of such surrender and payment is a
date when the share transfer books of the Company are closed, such person shall
be deemed to have become the holder of such shares at the close of business on
the next succeeding date on which the share transfer books are
open.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      4. Adjustments.

      

      4.1. Stock Dividends - Split
Ups.  If after the date hereof, and subject to the provisions
of Section 4.6 below, the number of outstanding Ordinary Shares is increased by
a stock dividend payable in Ordinary Shares, or by a split up of Ordinary
Shares, or other similar event, then, on the effective date of such stock
dividend, split up or similar event, the number of Ordinary Shares issuable on
exercise of each Warrant shall be increased in proportion to such increase in
outstanding Ordinary Shares.

      

      4.2. Aggregation of
Shares.  If after the date hereof, and subject to the
provisions of Section 4.6, the number of outstanding Ordinary Shares is
decreased by a consolidation, combination, reverse stock split or
reclassification of Ordinary Shares or other similar event, then, on the
effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of Ordinary Shares issuable on
exercise of each Warrant shall be decreased in proportion to such decrease in
outstanding Ordinary Shares.

      

      4.3 Adjustments in Exercise
Price.  Whenever the number of Ordinary Shares purchasable upon
the exercise of the Warrants is adjusted, as provided in Section 4.1 and 4.2
above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying
such Warrant Price immediately prior to such adjustment by a fraction (x) the
numerator of which shall be the number of Ordinary Shares purchasable upon the
exercise of the Warrants immediately prior to such adjustment, and (y) the
denominator of which shall be the number of Ordinary Shares so purchasable
immediately thereafter.

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      4.4. Replacement of Securities
upon Reorganization, etc.  In case of any reclassification or
reorganization of the outstanding Ordinary Shares (other than a change covered
by Section 4.1 or 4.2 hereof or that solely affects the par value of such
Ordinary Shares), or in the case of any merger or consolidation of the Company
with or into another corporation (other than a consolidation or merger in which
the Company is the continuing corporation and that does not result in any
reclassification or reorganization of the outstanding Ordinary Shares), or in
the case of any sale or conveyance to another corporation or entity of the
assets or other property of the Company as an entirety or substantially as an
entirety in connection with which the Company is dissolved, the Warrant holders
shall thereafter have the right to purchase and receive, upon the basis and upon
the terms and conditions specified in the Warrants and in lieu of the Ordinary
Shares of the Company immediately theretofore purchasable and receivable upon
the exercise of the rights represented thereby, the kind and amount of shares of
stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that the Warrant holder would have received
if such Warrant holder had exercised his, her or its Warrant(s) immediately
prior to such event; and if any reclassification also results in a change in
Ordinary Shares covered by Section 4.1 or 4.2, then such adjustment shall be
made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4.  The
provisions of this Section 4.4 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other
transfers.

      

      4.5. Notices of Changes in
Warrant.  Upon every adjustment of the Warrant Price or the
number of shares issuable upon exercise of a Warrant, the Company shall give
written notice thereof to the Warrant Agent, which notice shall state the
Warrant Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.  Upon the occurrence of
any event specified in Sections 4.1, 4.2, 4.3 or 4.4, then, in any such event,
the Company shall give written notice to each Warrant holder, at the last
address set forth for such holder in the warrant register, of the record date or
the effective date of the event.  Failure to give such notice, or any
defect therein, shall not affect the legality or validity of such
event.

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      4.6. No Fractional
Shares.  Notwithstanding any provision contained in this
Warrant Agreement to the contrary, the Company shall not issue fractional shares
upon exercise of Warrants.  If, by reason of any adjustment made
pursuant to this Section 4, the holder of any Warrant would be entitled, upon
the exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, round up or down to the nearest whole number
the number of the Ordinary Shares to be issued to the Warrant
holder.

      

      4.7. Form of
Warrant.  The form of Warrant need not be changed because of
any adjustment pursuant to this Section 4, and Warrants issued after such
adjustment may state the same Warrant Price and the same number of shares as is
stated in the Warrants initially issued pursuant to this
Agreement.  However, the Company may at any time in its sole
discretion make any change in the form of Warrant that the Company may deem
appropriate and that does not affect the substance thereof, and any Warrant
thereafter issued or countersigned, whether in exchange or substitution for an
outstanding Warrant or otherwise, may be in the form as so changed.

      

      5. Transfer and Exchange of
Warrants.

      

      5.1. Registration of
Transfer.  The Warrant Agent shall register the transfer, from
time to time, of any outstanding Warrant upon the Warrant Register, upon
surrender of such Warrant for transfer, properly endorsed with signatures
properly guaranteed and accompanied by appropriate instructions for
transfer.  Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be
cancelled by the Warrant Agent.  The Warrants so cancelled shall be
delivered by the Warrant Agent to the Company from time to time upon
request.

      

      5.2. Procedure for Surrender of
Warrants.  Warrants may be surrendered to the Warrant Agent,
together with a written request for exchange or transfer, and thereupon the
Warrant Agent shall issue in exchange therefor one or more new Warrants as
requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that in the event that
a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent
shall not cancel such Warrant and issue new Warrants in exchange therefor until
the Warrant Agent has received an opinion of counsel for the Company stating
that such transfer may be made and indicating whether the new Warrants must also
bear a restrictive legend.

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      5.3. Fractional
Warrants.  The Warrant Agent shall not be required to effect
any registration of transfer or exchange which will result in the issuance of a
warrant certificate for a fraction of a warrant.

      

      5.4. Service
Charges.  No service charge shall be made for any exchange or
registration of transfer of Warrants.

      

      5.5. Warrant Execution and
Countersignature.  The Warrant Agent is hereby authorized to
countersign and to deliver, in accordance with the terms of this Agreement, the
Warrants required to be issued pursuant to the provisions of this Section 5, and
the Company, whenever required by the Warrant Agent, will supply the Warrant
Agent with Warrants duly executed on behalf of the Company for such
purpose.

      

      6. Redemption.

      

      6.1. Redemption.  Subject
to Section 6.4 hereof, not less than all of the outstanding Warrants may be
redeemed, at the option of the Company, at any time while they are exercisable
and prior to their expiration, at the office of the Warrant Agent, upon the
notice referred to in Section 6.2, at the price of $.01 per Warrant (“Redemption
Price”), provided that the last reported sales price of the Ordinary Shares has
been at least $11.50 per share (subject to adjustment in accordance with Section
4 hereof), on each of twenty (20) trading days within any thirty (30) trading
day period ending on the third business day prior to the date on which notice of
redemption is given.  The provisions of this Section 6.1 may not be
modified, amended or deleted without the prior written consent of
EBC.

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      6.2. Date Fixed for, and Notice
of, Redemption.  In the event the Company shall elect to redeem
all of the Warrants, the Company shall fix a date for the redemption (the
“Redemption Date”).  Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than 30 days prior to the
Redemption Date to the registered holders of the Warrants to be redeemed at
their last addresses as they shall appear on the registration
books.  Any notice mailed in the manner herein provided shall be
conclusively presumed to have been duly given whether or not the registered
holder received such notice.

      

      6.3. Exercise After Notice of
Redemption.  The Warrants may be exercised, for cash (or on a
“cashless basis” in accordance with Section 3 of this Agreement) at any time
after notice of redemption shall have been given by the Company pursuant to
Section 6.2 hereof and prior to the Redemption Date.  In the event the
Company determines to require all holders of Warrants to exercise their Warrants
on a “cashless basis” pursuant to Section 3, the notice of redemption will
contain the information necessary to calculate the number of Ordinary Shares to
be received upon exercise of the Warrants, including the “Fair Market Value” in
such case. On and after the Redemption Date, the record holder of the Warrants
shall have no further rights except to receive, upon surrender of the Warrants,
the Redemption Price.

      

      6.4 Outstanding Warrants
Only. The Company understands that the redemption rights provided by this
Section 6 apply only to outstanding Warrants. To the extent a person holds
rights to purchase Warrants, such purchase rights shall not be extinguished by
redemption of the Warrants by the Company. However, once such purchase rights
are exercised, the Company may redeem the Warrants issued upon such exercise,
provided that the criteria for redemption are met, including the opportunity of
the Warrant holder to exercise its Warrants prior to redemption pursuant to
Section 6.3. The provisions of this Section 6.4 may not be modified, amended or
deleted without the prior written consent of EBC.

      

      7. Other Provisions Relating to
Rights of Holders of Warrants.

      

      7.1. No Rights as
Shareholder.  A Warrant does not entitle the registered holder
thereof to any of the rights of a shareholder of the Company, including, without
limitation, the right to receive dividends, or other distributions, exercise any
preemptive rights to vote or to consent or to receive notice as shareholders in
respect of the meetings of shareholders or the election of directors of the
Company or any other matter.

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      7.2. Lost, Stolen, Mutilated, or
Destroyed Warrants.  If any Warrant is lost, stolen, mutilated,
or destroyed, the Company and the Warrant Agent may on such terms as to
indemnity or otherwise as they may in their discretion impose (which shall, in
the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed.  Any such new Warrant shall constitute a
substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable
by anyone.

      

      7.3. Reservation of Ordinary
Shares.  The Company shall at all times reserve and keep
available a number of its authorized but unissued Ordinary Shares that will be
sufficient to permit the exercise in full of all outstanding Warrants issued
pursuant to this Agreement.

      

      7.4. Registration of Ordinary
Shares.  The Company agrees that prior to the commencement of
the Exercise Period, it shall use its best efforts to file with the Securities
and Exchange Commission a post-effective amendment to the Registration
Statement, or a new registration statement, for the registration, under the Act,
of, and it shall use its best efforts to take such action as is necessary to
qualify for sale, in those states in which the Warrants were initially offered
by the Company, the Ordinary Shares issuable upon exercise of the
Warrants.  In either case, the Company will use its best efforts to
cause the same to become effective and to maintain the effectiveness of such
registration statement until the expiration of the Warrants in accordance with
the provisions of this Agreement.  The provisions of this Section 7.4
may not be modified, amended or deleted without the prior written consent of
EBC.

      

      8. Concerning the Warrant Agent
and Other Matters.

      

      8.1. Payment of
Taxes.  The Company will from time to time promptly pay all
taxes and charges that may be imposed upon the Company or the Warrant Agent in
respect of the issuance or delivery of Ordinary Shares upon the exercise of
Warrants, but the Company shall not be obligated to pay any transfer taxes in
respect of the Warrants or such shares.

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      8.2. Resignation, Consolidation,
or Merger of Warrant Agent.

      

      8.2.1. Appointment of Successor
Warrant Agent.  The Warrant Agent, or any successor to it
hereafter appointed, may resign its duties and be discharged from all further
duties and liabilities hereunder after giving sixty (60) days’ notice in writing
to the Company.  If the office of the Warrant Agent becomes vacant by
resignation or incapacity to act or otherwise, the Company shall appoint in
writing a successor Warrant Agent in place of the Warrant Agent.  If
the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Warrant
Agent or by the holder of the Warrant (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply
to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent at the Company’s cost.  Any
successor Warrant Agent, whether appointed by the Company or by such court,
shall be a corporation organized and existing under the laws of the State of New
York, in good standing and having its principal office in the Borough of
Manhattan, City and State of New York, and authorized under such laws to
exercise corporate trust powers and subject to supervision or examination by
federal or state authority.  After appointment, any successor Warrant
Agent shall be vested with all the authority, powers, rights, immunities,
duties, and obligations of its predecessor Warrant Agent with like effect as if
originally named as Warrant Agent hereunder, without any further act or deed;
but if for any reason it becomes necessary or appropriate, the predecessor
Warrant Agent shall execute and deliver, at the expense of the Company, an
instrument transferring to such successor Warrant Agent all the authority,
powers, and rights of such predecessor Warrant Agent hereunder; and upon request
of any successor Warrant Agent the Company shall make, execute, acknowledge, and
deliver any and all instruments in writing for more fully and effectually
vesting in and confirming to such successor Warrant Agent all such authority,
powers, rights, immunities, duties, and obligations.

      

      8.2.2. Notice of Successor Warrant
Agent.  In the event a successor Warrant Agent shall be
appointed, the Company shall give notice thereof to the predecessor Warrant
Agent and the transfer agent for the Ordinary Shares not later than the
effective date of any such appointment.

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      8.2.3. Merger or Consolidation of
Warrant Agent.  Any corporation into which the Warrant Agent
may be merged or with which it may be consolidated or any corporation resulting
from any merger or consolidation to which the Warrant Agent shall be a party
shall be the successor Warrant Agent under this Agreement without any further
act.

      

      8.3. Fees and Expenses of Warrant
Agent.

      

      8.3.1. Remuneration.  The
Company agrees to pay the Warrant Agent reasonable remuneration for its services
as such Warrant Agent hereunder and will reimburse the Warrant Agent upon demand
for all expenditures that the Warrant Agent may reasonably incur in the
execution of its duties hereunder.

      

      8.3.2. Further
Assurances.  The Company agrees to perform, execute,
acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may
reasonably be required by the Warrant Agent for the carrying out or performing
of the provisions of this Agreement.

      

      8.4. Liability of Warrant
Agent.

      

      8.4.1. Reliance on Company
Statement.  Whenever in the performance of its duties under
this Warrant Agreement, the Warrant Agent shall deem it necessary or desirable
that any fact or matter be proved or established by the Company prior to taking
or suffering any action hereunder, such fact or matter (unless other evidence in
respect thereof be herein specifically prescribed) may be deemed to be
conclusively proved and established by a statement signed by the President or
Chairman of the Board of the Company and delivered to the Warrant
Agent.  The Warrant Agent may rely upon such statement for any action
taken or suffered in good faith by it pursuant to the provisions of this
Agreement.

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      

      8.4.2. Indemnity.  The
Warrant Agent shall be liable hereunder only for its own negligence, willful
misconduct or bad faith.  The Company agrees to indemnify the Warrant
Agent and save it harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by the Warrant
Agent in the execution of this Agreement except as a result of the Warrant
Agent’s negligence, willful misconduct, or bad faith.

      

      8.4.3. Exclusions.  The
Warrant Agent shall have no responsibility with respect to the validity of this
Agreement or with respect to the validity or execution of any Warrant (except
its countersignature thereof); nor shall it be responsible for any breach by the
Company of any covenant or condition contained in this Agreement or in any
Warrant; nor shall it be responsible to make any adjustments required under the
provisions of Section 4 hereof or responsible for the manner, method, or amount
of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make
any representation or warranty as to the authorization or reservation of any
Ordinary Shares to be issued pursuant to this Agreement or any Warrant or as to
whether any Ordinary Shares will when issued be valid and fully paid and
nonassessable.

      

      8.5. Acceptance of
Agency.  The Warrant Agent hereby accepts the agency
established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth and among other things, shall account promptly to
the Company with respect to Warrants exercised and concurrently account for, and
pay to the Company, all moneys received by the Warrant Agent for the purchase of
Ordinary Shares through the exercise of Warrants.

      

      9. Miscellaneous
Provisions.

      

      9.1. Successors.  All
the covenants and provisions of this Agreement by or for the benefit of the
Company or the Warrant Agent shall bind and inure to the benefit of their
respective successors and assigns.

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      

      9.2. Notices.  Any
notice, statement or demand authorized by this Warrant Agreement to be given or
made by the Warrant Agent or by the holder of any Warrant to or on the Company
shall be sufficiently given when so delivered if by hand or overnight delivery
or if sent by certified mail or private courier service within five days after
deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Company with the Warrant Agent), as
follows:

      

      Asia
Select Acquisition I Corp.

      20/F.,
China Merchants Limited

      No.
303-307 Des Voeux Road Central

      Hong
Kong

      Attn:  Chief
Executive Officer

      

      Any
notice, statement or demand authorized by this Agreement to be given or made by
the holder of any Warrant or by the Company to or on the Warrant Agent shall be
sufficiently given when so delivered if by hand or overnight delivery or if sent
by certified mail or private courier service within five days after deposit of
such notice, postage prepaid, addressed (until another address is filed in
writing by the Warrant Agent with the Company), as follows:

      

      Continental
Stock Transfer & Trust Company

      17
Battery Place

      New York,
New York 10004

      Attn:  Compliance
Department

      

      with a
copy in each case to:

      

      Graubard
Miller

      The
Chrysler Building

      405
Lexington Avenue

      New York,
New York 10174

      Attn:  David
Alan Miller, Esq.

      

      and

      

      Loeb
& Loeb LLP

      345 Park
Avenue

      New York,
NY 10154

      Attn:  Mitchell
S. Nussbaum, Esq.

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

       

      and

      

      EarlyBirdCapital,
Inc.

      275
Madison Avenue, Suite 1203

      New York,
New York 10016

      Attn:  David
M. Nussbaum, Chairman

      

      9.3. Applicable
Law.  The validity, interpretation, and performance of this
Agreement and of the Warrants shall be governed in all respects by the laws of
the State of New York, without giving effect to conflicts of law principles that
would result in the application of the substantive laws of another
jurisdiction.  The Company hereby agrees that any action, proceeding
or claim against it arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive.  The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenience
forum.  Any such process or summons to be served upon the Company may
be served by transmitting a copy thereof by registered or certified mail, return
receipt requested, postage prepaid, addressed to it at the address set forth in
Section 9.2 hereof.  Such mailing shall be deemed personal service and
shall be legal and binding upon the Company in any action, proceeding or
claim.

      

      9.4. Persons Having Rights under
this Agreement.  Nothing in this Agreement expressed and
nothing that may be implied from any of the provisions hereof is intended, or
shall be construed, to confer upon, or give to, any person or corporation other
than the parties hereto and the registered holders of the Warrants and, for the
purposes of Sections 6.1, 6.4, 7.4 and 9.2 hereof, EBC, any right, remedy, or
claim under or by reason of this Warrant Agreement or of any covenant,
condition, stipulation, promise, or agreement hereof.  EBC shall be
deemed to be a third-party beneficiary of this Agreement with respect to
Sections 6.1, 6.4, 7.4 and 9.2 hereof.  All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall
be for the sole and exclusive benefit of the parties hereto (and EBC with
respect to the Sections 6.1, 6.4, 7.4 and 9.2 hereof) and their successors and
assigns and of the registered holders of the Warrants.

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      9.5. Examination of the Warrant
Agreement.  A copy of this Agreement shall be available at all
reasonable times at the office of the Warrant Agent in the Borough of Manhattan,
City and State of New York, for inspection by the registered holder of any
Warrant.  The Warrant Agent may require any such holder to submit his
Warrant for inspection by it.

      

      9.6. Counterparts.  This
Agreement may be executed in any number of original or facsimile counterparts
and each of such counterparts shall for all purposes be deemed to be an
original, and all such counterparts shall together constitute but one and the
same instrument.

      

      9.7. Effect of
Headings.  The Section headings herein are for convenience only
and are not part of this Warrant Agreement and shall not affect the
interpretation thereof.

      

      9.8 Amendments.  This
Agreement may be amended by the parties hereto without the consent of any
registered holder for the purpose of curing any ambiguity, or of curing,
correcting or supplementing any defective provision contained herein or adding
or changing any other provisions with respect to matters or questions arising
under this Agreement as the parties may deem necessary or desirable and that the
parties deem shall not adversely affect the interest of the registered
holders.  All other modifications or amendments, including any
amendment to increase the Warrant Price or shorten the Exercise Period, shall
require the written consent of the registered holders of a majority of the then
outstanding Warrants.  Notwithstanding the foregoing, the Company may
lower the Warrant Price or extend the duration of the Exercise Period pursuant
to Sections 3.1 and 3.2, respectively, without the consent of the registered
holders.

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

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

       

      
        
          
            
              
                
                  
                    	
                            ASIA SELECT ACQUISITION I CORP.

                          
	 
      	 
      
	
                            By:

                          	  
      
	 
      	
                            Name:

                          
	 
      	
                            Title:

                          
	 
      	 
      
	
                            CONTINENTAL
      STOCK TRANSFER

                          
	
                             
      & TRUST COMPANY

                          
	 
      	 
      
	
                            By:

                          	 
	 
      	
                            Name:

                          
	 
      	
                            Title:

                          

                  

                

              

            

          

        

      

       

      
        
           

        

        
          19Unassociated Document

     

    EXHIBIT
10.1

     

    ____________
___, 2008

    

    Asia
Select Acquisition I Corp.

    20/F.,
China Merchants Limited

    No.
303-307 Des Voeux Road Central

    Hong
Kong

    

    EarlyBirdCapital,
Inc.

    275
Madison Avenue, Suite 1203

    New York,
New York 10016

    

    Re:           Initial Public
Offering

    

    Gentlemen:

    

    The undersigned shareholder, officer
and/or director of Asia Select Acquisition I Corp. (“Company”), in consideration
of EarlyBirdCapital, Inc. (“EBC”) entering into a letter of intent (“Letter of
Intent”) to underwrite an initial public offering of the securities of the
Company (“IPO”) and embarking on the IPO process, hereby agrees as follows
(certain capitalized terms used herein are defined in paragraph 15
hereof):

    

    1.           If
the Company solicits approval of its shareholders of a Business Combination, the
undersigned will vote all Insider Shares beneficially owned by him in accordance
with the majority of the ordinary shares voted by the holders of the IPO
Shares.

    

    2.           In
the event that the Company fails to consummate a Business Combination within 24
months from the consummation of the IPO, the undersigned will (i) cause the
Trust Fund (as defined in the Letter of Intent) to be liquidated and distributed
to the holders of the IPO Shares and (ii) take all reasonable actions within his
power to cause the Company to liquidate as soon as reasonably
practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind in or to any distribution of the Trust Fund and
any remaining net assets of the Company as a result of such liquidation with
respect to his Insider Shares (“Claim”) and hereby waives any Claim the
undersigned may have in the future as a result of, or arising out of, any
contracts or agreements with the Company and will not seek recourse against the
Trust Fund for any reason whatsoever.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.           In
the event of the liquidation of the Trust Account, the undersigned agrees to
indemnify and hold harmless the Company against any and all loss, liability,
claims, damage and expense whatsoever (including, but not limited to, any and
all legal or other expenses reasonably incurred in investigating, preparing or
defending against any litigation, whether pending or threatened, or any claim
whatsoever) to which the Company may become subject as a result of any claim by
any vendor or other person who is owed money by the Company for services
rendered or products sold or contracted for, or by any target business, but only
to the extent necessary to ensure that such loss, liability, claim, damage or
expense does not reduce the amount in the Trust Account.

    

    4.           In
order to minimize potential conflicts of interest which may arise from multiple
affiliations, the undersigned agrees to present to the Company for its
consideration, prior to presentation to any other person or entity, any suitable
opportunity to acquire an operating business, until the earlier of the
consummation by the Company of its initial Business Combination, the liquidation
of the Company and such time as the undersigned ceases to be an officer or
director of the Company, subject to any pre-existing fiduciary and contractual
obligations the undersigned might have.

    

    5.           The
undersigned acknowledges and agrees that the Company will not: (i) acquire an
entity with which the Company’s officers or directors, through their other
business activities, had acquisition or investment discussions in the past; (ii)
consummate a Business Combination with an entity which is, or has been within
the past five years, affiliated with any of the Insiders or their affiliates,
including an entity that is either a portfolio company of, or has otherwise
received a material financial investment from, any private equity fund or
investment company (or an affiliate thereof) that is affiliated with such
individuals; or (iii) enter into a Business Combination where the Company
acquires less than 100% of a target business and any of the Insiders or their
affiliates acquire the remaining portion of such target business, unless, in any
of such cases, the Company obtains an opinion from an independent investment
banking firm reasonably acceptable to EBC that the Business Combination is fair
to the Company’s unaffiliated shareholders from a financial point of
view.

    

    6.           Neither
the undersigned, any member of the family of the undersigned, nor any affiliate
(“Affiliate”) of the undersigned will be entitled to receive and will not accept
any compensation for services rendered to the Company prior to or in connection
with the consummation of the Business Combination.  The undersigned
shall be entitled to reimbursement from the Company for his out-of-pocket
expenses incurred in connection with seeking and consummating a Business
Combination.

    

    7.           Neither
the undersigned, any member of the family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder’s fee or any
other compensation in the event the undersigned, any member of the family of the
undersigned or any Affiliate of the undersigned originates a Business
Combination.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8.           The
undersigned will escrow all of the Insider Shares, subject to the terms of a
Securities Escrow Agreement which the Company will enter into with the
undersigned and an escrow agent acceptable to the Company.

    

    9.           The
undersigned agrees to be the Chairman of the Board and Chief Executive Officer
of the Company until the earlier of the consummation by the Company of a
Business Combination and the liquidation of the Company.  The
undersigned’s biographical information furnished to the Company and EBC and
attached hereto as Exhibit A is true and accurate in all respects, does not omit
any material information with respect to the undersigned’s background and
contains all of the information required to be disclosed pursuant to Item 401 of
Regulation S-K, promulgated under the Securities Act of 1933, as
amended.  The undersigned’s Questionnaire furnished to the Company and
EBC and annexed as Exhibit B hereto is true and accurate in all
respects.  The undersigned represents and warrants that:

    

    (a)           he
is not subject to, or a respondent in, any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act
or practice relating to the offering of securities in any
jurisdiction;

    

    (b)           he
has never been convicted of or pleaded guilty to any crime (i) involving any
fraud or (ii) relating to any financial transaction or handling of funds of
another person, or (iii) pertaining to any dealings in any securities and he is
not currently a defendant in any such criminal proceeding; and

    

    (c)           he
has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license
or registration denied, suspended or revoked.

    

    10.           The
undersigned has full right and power, without violating any agreement by which
he is bound, to enter into this letter agreement and to serve as Chairman of the
Board and Chief Executive Officer of the Company.

    

    11.           The
undersigned hereby waives his right to exercise conversion rights or appraisal
rights with respect to any shares of common stock of the Company owned or to be
owned by the undersigned, directly or indirectly, and agrees that he will not
seek conversion or appraisal with respect to such shares in connection with any
vote to approve a Business Combination.

    

    12.           The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to
the Company’s Memorandum and Articles of Association to extend the period of
time in which the Company must consummate a Business Combination prior to its
liquidation. Should such a proposal be put before shareholders other than
through actions by the undersigned, the undersigned hereby agrees to vote
against such proposal.  This paragraph may not be modified or amended
under any circumstances.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    13.           In
the event that the Company does not consummate a Business Combination and must
liquidate and its remaining net assets are insufficient to complete such
liquidation, the undersigned agrees to advance such funds necessary to complete
such liquidation and agrees not to seek repayment for such amount.

    

    14.           This
letter agreement shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflicts of
law principles that would result in the application of the substantive laws of
another jurisdiction.  The undersigned hereby (i) agrees that any
action, proceeding or claim against his arising out of or relating in any way to
this letter agreement (a “Proceeding”) shall be brought and enforced in the
courts of the State of New York of the United States of America for the Southern
District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive, (ii) waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum and (iii)
irrevocably agrees to appoint Graubard Miller as agent for the service of
process in the State of New York to receive, for the undersigned and on his
behalf, service of process in any Proceeding.  If for any reason such
agent is unable to act as such, the undersigned will promptly notify the Company
and EBC and appoint a substitute agent acceptable to each of the Company and EBC
within 30 days and nothing in this letter will affect the right of either party
to serve process in any other manner permitted by law.

    

    15.           As
used herein, (i) a “Business Combination” shall mean an acquisition by merger,
capital stock exchange, asset or stock acquisition, reorganization or otherwise,
of an operating business; (ii) “Insiders” shall mean all officers, directors and
shareholders of the Company immediately prior to the IPO; (iii) “Insider Shares”
shall mean all of the ordinary shares of the Company acquired by the Insiders
prior to the IPO; and (iv) “IPO Shares” shall mean the shares of Common Stock
issued in the Company’s IPO.

     

    
      
        
          	
                  Michael A. Evans

                
	
                  Print
      Name of Insider

                
	 
      
	 
      
	
                  Signature

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}]]