Document:

Exhibit 4.4

 

WARRANT AGREEMENT

 

Agreement made as of                         , 2005 between
Services Acquisition Corp. International, a Delaware corporation, with offices
at 401 East Las Olas Boulevard, Suite 1140, Fort Lauderdale, Florida 33301 (“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 is
engaged in a public offering (“Public Offering”) of Units (“Units”)  and, in connection therewith, has determined
to issue and deliver up to 5,750,000 Warrants (“Public Warrants”) to the public
investors, and (ii) 500,000 Warrants to Broadband Capital Management LLC. (“Broadband”)
or its designees (“Representative’s Warrants” and, together with the Public
Warrants, the “Warrants”), each of such Public Warrants evidencing the right of
the holder thereof to purchase one share of common stock, par value $.001 per
share, of the Company’s Common Stock (“Common Stock”) for $6.00, subject to
adjustment as described herein; and

 

WHEREAS, the Company has
filed with the Securities and Exchange Commission a Registration Statement, No.
333-           on Form S-1 (“Registration
Statement”) for the registration, under the Securities Act of 1933, as amended
(“Act”) of, among other securities, the Warrants and the Common Stock 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                                 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.

 

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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 Broadband informs the Company of its decision to allow
earlier separate trading, but in no event will Broadband allow separate trading
of the securities comprising the Units until the Company files a Current Report
on Form 8-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 Underwriter’s over-allotment
option, if the over-allotment option is exercised prior to the filing of the
Form 8-K.

 

2.5                                 Warrants
and Representative’s Warrants. The Representative’s Warrants shall have the
same terms and be in the same form as the Public Warrants except with respect
to the Warrant Price as set forth below in Section 3.1.

 

3.                                       Terms
and Exercise of Warrants.

 

3.1                                 Warrant
Price.  Each Public Warrant shall,
when countersigned by the Warrant Agent, entitle the registered holder thereof,
subject to the provisions of such Public Warrant and of this Warrant Agreement,
to purchase from the Company the number of shares of Common Stock stated
therein, at the price of $6.00 per whole share, subject to the adjustments
provided in Section 4 hereof and in the last sentence of this Section 3.1.  Each Representative’s Warrant shall, when
countersigned by the Warrant Agent, entitle the registered holder thereof,
subject to the provisions of such Representative’s Warrant and of this Warrant
Agreement, to purchase from the Company the number of shares of Common Stock
stated therein, at the price of $7.50 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 Common Stock 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 (“Business Combination”) (as
described more fully in the Company’s Registration Statement) or
            , 2006
and terminating at 5:00 p.m., New York City time on the earlier to occur of (i)
            , 2009
or (ii) the date fixed for redemption of the Warrants as provided in Section 6
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.

 

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,

 

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and by paying in full, in lawful money of the United
States, in cash, good certified check or good bank draft payable to the order
of the Company (or as otherwise agreed to by the Company), the Warrant Price
for each full share of Common Stock as to which the Warrant is exercised and
any and all applicable taxes due in connection with the exercise of the
Warrant, the exchange of the Warrant for the Common Stock, and the issuance of
the Common Stock.

 

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 shares of
Common Stock 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 unless (i) a
registration statement under the Act with respect to the Common Stock is
effective or (ii) in the opinion of counsel to the Company, the exercise of the
Warrants is exempt from the registration requirements of the Act and such
securities are qualified for sale or exempt from qualification under applicable
securities laws of the states or other jurisdictions in which the registered
holders reside.  Warrants may not be
exercised by, or securities issued to, any registered holder in any state in
which such exercise would be unlawful.

 

3.3.3                        Valid
Issuance.  All shares of Common Stock
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 shares of Common Stock 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 stock 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 stock transfer books are open.

 

3.3.5                        Warrant
Solicitation and Warrant Solicitation Fee.

 

(a)                                  The
Company has engaged Broadband, on a non-exclusive basis, as its agent for the
solicitation of the exercise of the Warrants. 
The Company, at its cost, will (i) assist Broadband with respect to such
solicitation, if requested by Broadband, and (ii) provide Broadband, and direct
the Company’s transfer agent and the Warrant Agent to deliver to Broadband, lists
of the record and, to the extent known, beneficial owners of the Company’s
Warrants.  The Company hereby instructs
the Warrant Agent to cooperate with Broadband in every respect in connection
with Broadband’s solicitation activities, including, but not limited to,
providing to Broadband, at the Company’s cost, a list of record and beneficial
holders of the Warrants and circulating a prospectus or offering circular
disclosing the compensation arrangements referenced in Section 3.3.5(b)
below to holders of the Warrants at the time of exercise of the Warrants.  In addition to the conditions set forth in Section 3.3.5(b),
Broadband shall accept payment of the warrant solicitation fee provided in Section 3.3.5(b)
only if it has provided bona fide services to the Company in connection with
the exercise of the Warrants and only to the extent that an investor who
exercises his Warrants specifically designates, in writing, that Broadband
solicited his exercise.  In addition to
soliciting, either orally or in writing, the exercise of Warrants by a Warrant
holder, such services may also include disseminating information, either orally
or in writing, to Warrant holders about the Company or the market for the
Company’s securities, or assisting in the processing of the exercise of
Warrants.

 

(b)                                 In
each instance in which a Warrant is exercised, the Warrant Agent shall promptly
give written notice of such exercise to the Company and Broadband (“Warrant
Agent’s Exercise Notice”).  If, upon the
exercise of any Warrant more than one year from the effective date of the
Registration Statement, (i) the market price of the Company’s Common Stock
is greater than the Warrant Price, (ii) disclosure of compensation arrangements
between the Company and Broadband with respect to the solicitation of the
exercise of the Warrants was made both at the time of the Public Offering and
at the time of exercise (by delivery of the Prospectus or as otherwise required
by applicable law, rule or regulation), (iii) the holder of the Warrant confirms
in writing that the exercise of the Warrant was solicited by Broadband, (iv)
the Warrant was not held in a discretionary account, and (v) the solicitation
of the exercise of the Warrant was not in violation of Regulation M (as such
rule or

 

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any successor rule may be in effect as of such time of
exercise) promulgated under the Securities Exchange Act of 1934, as amended,
then the Warrant Agent, simultaneously with the distribution of the Common
Stock underlying the Warrants so exercised in accordance with the instructions
from the Company following receipt of the proceeds to the Company received upon
exercise of such Warrant(s), shall, on behalf of the Company, pay a fee of 5%
of the Warrant Price to Broadband, provided that Broadband delivers to the
Warrant Agent within ten (10) business days from the date on which Broadband
has received the Warrant Agent’s Exercise Notice, a certificate that the
conditions set forth in the preceding clauses (iii), (iv) and (v) have been
satisfied.  Notwithstanding the
foregoing, no fee will be paid to Broadband with respect to the exercise by the
Underwriters or their affiliates or the Company’s officers or directors of
Warrants purchased by it or them and still held by them for its or their own
account.  Broadband and the Company may
at any time during business hours, examine the records of the Warrant Agent,
including its ledger of original Warrant certificates returned to the Warrant
Agent upon exercise of Warrants.

 

(c)                                  The
provisions of this Section 3.3.5. may not be modified, amended or deleted
without the prior written consent of Broadband.

 

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 shares of Common Stock is increased by a stock dividend
payable in shares of Common Stock, or by a split-up of shares of Common Stock,
or other similar event, then, on the effective date of such stock dividend,
split-up or similar event, the number of shares of Common Stock issuable on
exercise of each Warrant shall be increased in proportion to such increase in
outstanding shares of Common Stock.

 

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

 

4.3                                 Adjustments
in Exercise Price.  Whenever the
number of shares of Common Stock 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 shares of Common Stock purchasable upon the exercise of
the Warrants immediately prior to such adjustment, and (y) the denominator of
which shall be the number of shares of Common Stock so purchasable immediately
thereafter.

 

4.4                                 Replacement
of Securities upon Reorganization, etc. 
In case of any reclassification or reorganization of the outstanding
shares of Common Stock (other than a change covered by Section 4.1 or 4.2
hereof or that solely affects the par value of such shares of Common Stock), 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 shares of Common Stock), 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 shares of Common Stock 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 shares of
Common Stock 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.

 

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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 the 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.

 

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 to the nearest whole number the
number of the shares of Common Stock 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.

 

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 after they become exercisable and prior to their

 

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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 sales price of the Common Stock has been at
least $11.50 per share, 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 Broadband.

 

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. 
Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than 30 days prior to the date fixed for
redemption 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 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 time and date fixed for
redemption.  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
for 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. However, once such purchase rights are exercised,
the Company may redeem the Warrants issued upon such exercise provided that the
criteria for redemption is met. The provisions of this Section 6.4 may not
be modified, amended or deleted without the prior written consent of Broadband.

 

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

 

7.1                                 No
Rights as Stockholder.  A Warrant
does not entitle the registered holder thereof to any of the rights of a
stockholder 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 stockholders in respect of the meetings of
stockholders or the election of directors of the Company or any other matter.

 

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

 

7.4                                 Registration
of Common Stock.  The Company agrees
that prior to the commencement of the Exercise Period, it shall 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 take such action as is necessary to qualify for
sale, in those states in which the Warrants were initially offered by the
Company, the Common Stock 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 Broadband.

 

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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 shares of Common
Stock 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.

 

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
Common Stock not later than the effective date of any such appointment.

 

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

 

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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.

 

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 shares
of Common Stock to be issued pursuant to this Agreement or any Warrant or as to
whether any shares of Common Stock 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 shares of the Company’s Common Stock 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.

 

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:

 

Services
Acquisition Corp. International

401 East Las Olas
Boulevard

Suite 1140

Fort Lauderdale,
Florida 33301

Attn:  Chairman

 

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:

 

8

 

Littman Krooks LLP

655 Third Avenue

New York, New York
10017

Attn:  Steven D. Uslaner, Esq.

 

and

 

Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C.

666 Third Avenue

New York, New York
10017

Attn:  Kenneth R. Koch, Esq.

 

and

 

Broadband Capital
Management LLC

805 Third Avenue

New York, New York
10022

Attn:

 

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
conflict of laws.  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 3.3.5, 6.1, 6.4, 7.4 and 9.2 hereof, Broadband, any right,
remedy, or claim under or by reason of this Warrant Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof.  Broadband shall be deemed to be a third-party
beneficiary of this Agreement with respect to Sections 3.3.5, 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
Broadband with respect to the Sections 3.3.5, 6.1, 6.4, 7.4 and 9.2 hereof) and
their successors and assigns and of the registered holders of the Warrants.

 

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 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

 

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

 

	
  Attest

  	
   

  	
  SERVICES ACQUISITION CORP. INTERNATIONAL

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   Name:

  
	
   

  	
   

  	
   

  	
   Title:

  
	
   

  	
   

  	
   

  
	
  Attest

  	
   

  	
  CONTINENTAL STOCK TRANSFER

  
	
   

  	
   

  	
  & TRUST COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
    Name:

  	
  Steven Nelson

  
	
   

  	
   

  	
   

  	
    Title:

  	
  Chairman

  
						

 

10Exhibit
4.5

 

UNIT PURCHASE
OPTION

 

FOR THE PURCHASE
OF

 

500,000 UNITS

 

OF

 

SERVICES
ACQUISITION CORP. INTERNATIONAL 

 

i

 

TABLE OF CONTENTS

 

	
  1.

  	
  PURCHASE OPTION.

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  EXERCISE.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.1

  	
  Exercise Form

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.2

  	
  Legend

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.3

  	
  Cashless Exercise.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.3.1

  	
  Determination of Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.3.2

  	
  Mechanics of Cashless
  Exercise

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  TRANSFER.

  
	
   

  	
   

  
	
   

  	
  3.1

  	
  General Restrictions

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.2

  	
  Restrictions Imposed
  by the Act

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  NEW PURCHASE OPTIONS
  TO BE ISSUED.

  
	
   

  	
   

  
	
   

  	
  4.1

  	
  Partial Exercise or
  Transfer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.2

  	
  Lost Certificate

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  REGISTRATION
  RIGHTS.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.1

  	
  Demand Registration.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.1.1

  	
  Grant of Right

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.1.2

  	
  Terms

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.2

  	
  “Piggy-Back” Registration.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.2.1

  	
  Grant of Right

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.2.2

  	
  Terms

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.3

  	
  Damages

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.4

  	
  General Terms.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.1

  	
  Indemnification

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.2

  	
  Exercise of Purchase
  Options

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.3

  	
  Documents Delivered to
  Holders

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.4

  	
  Underwriting Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.5

  	
  Rule 144 Sale

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.4.6

  	
  Supplemental Prospectus

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  ADJUSTMENTS.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
  Adjustments
  to Exercise Price and Number of Securities

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.1.1

  	
  Stock Dividends - Split-Ups

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.1.2

  	
  Aggregation of Shares

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.1.3

  	
  Replacement
  of Securities upon Reorganization, etc

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.1.4

  	
  Changes in Form of
  Purchase Option

  	
   

  

 

ii

 

 

	
   

  	
  6.2

  	
  [Intentionally Omitted].

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.3

  	
  Substitute Purchase Option

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.4

  	
  Elimination of
  Fractional Interests

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  RESERVATION AND LISTING

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  CERTAIN NOTICE
  REQUIREMENTS.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.1

  	
  Holder’s Right to
  Receive Notice

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.2

  	
  Events Requiring Notice

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.3

  	
  Notice of Change in
  Exercise Price

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.4

  	
  Transmittal of Notices

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  MISCELLANEOUS.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  9.1

  	
  Amendments

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.2

  	
  Headings

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  ENTIRE AGREEMENT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  10.1

  	
  Binding Effect

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.2

  	
  Governing
  Law; Submission to Jurisdiction

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.3

  	
  Waiver, Etc

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.4

  	
  Execution in Counterparts

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.5

  	
  Exchange Agreement

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.6

  	
  Underlying Warrants

  	
   

  

 

iii

 

THE REGISTERED HOLDER OF THIS
PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL,
TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE
REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL,
TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD OF
ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I)
BROADBAND CAPITAL MANAGEMENT LLC (“BROADBAND”) OR AN UNDERWRITER OR A SELECTED
DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER
OF BROADBAND OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

 

THIS PURCHASE OPTION IS NOT
EXERCISABLE PRIOR TO THE LATER OF (I)                         ,
2006 AND (II) THE CONSUMMATION BY SERVICES ACQUISITION CORP. INTERNATIONAL (“COMPANY”)
OF A MERGER, CAPITAL STOCK EXCHANGE, ASSET ACQUISITION OR OTHER SIMILAR
BUSINESS COMBINATION (“BUSINESS COMBINATION”) (AS DESCRIBED MORE FULLY IN THE
COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN)).  VOID AFTER 5:00 P.M EASTERN TIME,                          ,
2010.

 

UNIT PURCHASE
OPTION

 

FOR THE
PURCHASE OF

 

500,000 UNITS

 

OF

 

SERVICES
ACQUISITION CORP. INTERNATIONAL

 

1.                                       Purchase Option.

 

THIS CERTIFIES THAT, in consideration of $       
duly paid by or on behalf of                                  
(“Holder”), as registered owner of this Purchase Option, to Services
Acquisition Corp. International (“Company”), Holder is entitled, at any time or
from time to time upon the later of (i)                   ,
2006 and (ii) the consummation of a Business Combination (“Commencement Date”),
and at or before 5:00 p.m., Eastern Time,                   ,
2010 (“Expiration Date”), but not thereafter, to subscribe for, purchase and
receive, in whole or in part, up to Five Hundred Thousand (500,000) units (“Units”)
of the Company, each Unit consisting of one share of common stock of the
Company, par value $.001 per share (“Common Stock”), and one warrant (“Warrant(s)”)
expiring four years from the effective date (“Effective Date”) of the
registration statement (“Registration Statement”) pursuant to which Units are
offered for sale to the public (“Offering”). 
Each Warrant is the same as the warrants included in the Units being
registered for sale to the public by way of the Registration Statement (“Public Warrants”) except that the Warrants have
an exercise price of $7.50 per share.  If
the Expiration Date is a day on which banking institutions are authorized by
law to close, then this Purchase Option may be exercised on the next succeeding
day which is not such a day in accordance with the terms herein.  During the period ending on the Expiration
Date, the Company agrees not to take any action that would terminate the
Purchase Option.  This Purchase Option is
initially exercisable at $10.00 per Unit so purchased; provided, however, that
upon the occurrence of any of the events specified in Section 6 hereof, the
rights granted by this Purchase Option, including the exercise price per Unit
and the number of Units (and shares of Common Stock and Warrants) to be
received upon such exercise, shall be adjusted as therein specified.  The term “Exercise Price” shall mean the
initial exercise price or the adjusted exercise price, depending on the
context.

 

2.                                       Exercise.

 

2.1                                 Exercise Form.  In order to exercise this Purchase Option,
the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Option and payment of the
Exercise Price for the Units being purchased payable in cash or by certified
check or official bank check. If the subscription rights represented hereby
shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration
Date, this Purchase Option shall become and be void without further force or
effect, and all rights represented hereby shall cease and expire.

 

 

2.2                                 Legend. 
Each certificate for the securities purchased under this Purchase Option
shall bear a legend as follows unless such securities have been registered under the Securities Act of 1933,
as amended (“Act”):

 

“The securities represented by this certificate have
not been registered under the Securities Act of 1933, as amended (“Act”) or
applicable state law. The securities may not be offered for sale, sold or
otherwise transferred except pursuant to an effective registration statement
under the Act, or pursuant to an exemption from registration under the Act and
applicable state law.”

 

2.3                                 Cashless Exercise.

 

2.3.1                        Determination of Amount.  In lieu of the payment of the Exercise Price
multiplied by the number of Units for which this Purchase Option is exercisable
(and in lieu of being entitled to receive Common Stock and Warrants) in the
manner required by Section 2.1, the Holder shall have the right (but not the
obligation) to convert any exercisable but unexercised portion of this Purchase
Option into Units (“Conversion Right”) as follows: upon exercise of the
Conversion Right, the Company shall deliver to the Holder (without payment by
the Holder of any of the Exercise Price in cash) that number of shares of
Common Stock and Warrants comprising that number of Units equal to the quotient
obtained by dividing (x) the “Value” (as defined below) of the portion of the
Purchase Option being converted by (y) the Current Market Value (as defined
below).  The “Value” of the portion of
the Purchase Option being converted shall equal the remainder derived from
subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units
underlying the portion of this Purchase Option being converted from (b) the
Current Market Value of a Unit multiplied by the number of Units underlying the
portion of the Purchase Option being converted. 
As used herein, the term “Current Market Value” per Unit at any date
means the remainder derived from subtracting (x) the exercise price of the
Warrants multiplied by the number of shares of Common Stock issuable upon
exercise of the Warrants underlying one Unit from (y) (i) the Current Market
Price of the Common Stock multiplied by (ii) the number of shares of Common Stock underlying one Unit,
which shall include the shares of Common Stock underlying the Warrants included
in such Unit.  The “Current Market Price”
of a share of Common Stock shall mean (i) if the Common Stock is listed on a
national securities exchange or quoted on the Nasdaq National Market, Nasdaq
SmallCap Market or NASD OTC Bulletin Board (or successor trading market), the
last sale price of the Common Stock in the principal trading market for the
Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may
be; (ii) if the Common Stock is not listed on a national securities exchange or
quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC
Bulletin Board (or successor such as the Bulletin Board Exchange), but is
traded in the residual over-the-counter market, the closing bid price for the
Common Stock on the last trading day preceding the date in question for which
such quotations are reported by the Pink Sheets, LLC or similar publisher of
such quotations; and (iii) if the fair market value of the Common Stock cannot
be determined pursuant to clause (i) or (ii) above, such price as the Board of
Directors of the Company shall determine, in good faith.

 

2.3.2                        Mechanics of Cashless Exercise.  The Cashless Exercise Right may be exercised
by the Holder on any business day on or after the Commencement Date and not
later than the Expiration Date by delivering the Purchase Option with the duly
executed exercise form attached hereto with the cashless exercise section
completed to the Company, exercising the Cashless Exercise Right and specifying
the total number of Units the Holder will purchase pursuant to such Cashless
Exercise Right.

 

3.                                       Transfer.

 

3.1                                 General Restrictions.  The registered Holder of this Purchase
Option, by its acceptance hereof, agrees that it will not sell, transfer,
assign, pledge or hypothecate this Purchase Option for a period of one year
following the Effective Date to anyone other than (i) Broadband or an
underwriter or a selected dealer in connection with the Offering, or (ii) a
bona fide officer or partner of Broadband or of any such underwriter or
selected dealer.  On and after the first
anniversary of the Effective Date, transfers to others may be made subject to
compliance with or exemptions from applicable securities laws.  In order to make any permitted assignment,
the Holder must deliver to the Company the assignment form attached hereto duly
executed and completed, together with the Purchase Option and payment of all
transfer taxes, if any, payable in connection therewith.  The Company shall within five business days
transfer this Purchase Option on the books of the Company and shall execute and
deliver a new Purchase Option or Purchase Options of like tenor to the
appropriate assignee(s) expressly evidencing the right to

 

2

 

purchase the
aggregate number of Units purchasable hereunder or such portion of such number
as shall be contemplated by any such assignment.

 

3.2                                 Restrictions Imposed by the Act.  The securities evidenced by this Purchase
Option shall not be transferred unless and until (i) the Company has received
the opinion of counsel for the Holder that the securities may be transferred
pursuant to an exemption from registration under the Act and applicable state
securities laws, the availability of which is established to the reasonable
satisfaction of the Company (the Company hereby agreeing that the opinion of
Littman Krooks LLP (“Littman Krooks”) shall be deemed satisfactory evidence of
the availability of an exemption), or (ii) a registration statement or a
post-effective amendment to the Registration Statement relating to such
securities has been filed by the Company and declared effective by the
Securities and Exchange Commission and compliance with applicable state
securities law has been established.

 

4.                                       New Purchase Options to be
Issued.

 

4.1                                 Partial Exercise or Transfer.  Subject to the restrictions in Section 3
hereof, this Purchase Option may be exercised or assigned in whole or in
part.  In the event of the exercise or
assignment hereof in part only, upon surrender of this Purchase Option for
cancellation, together with the duly executed exercise or assignment form and
funds sufficient to pay any Exercise Price and/or transfer tax, the Company
shall cause to be delivered to the Holder without charge a new Purchase Option
of like tenor to this Purchase Option in the name of the Holder evidencing the
right of the Holder to purchase the number of Units purchasable hereunder as to
which this Purchase Option has not been exercised or assigned.

 

4.2                                 Lost Certificate.  Upon receipt by the Company of evidence
satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Option and of reasonably satisfactory indemnification or the posting
of a bond, the Company shall execute and deliver a new Purchase Option of like
tenor and date.  Any such new Purchase
Option executed and delivered as a result of such loss, theft, mutilation or
destruction shall constitute a substitute contractual obligation on the part of
the Company.

 

5.                                       Registration Rights.

 

5.1                                 Demand Registration.

 

5.1.1                        Grant
of Right.  The Company, upon
written demand (“Initial Demand Notice”) of the Holder(s) of at least 51% of
the Purchase Options and/or the underlying Units and/or the underlying
securities (“Majority Holders”), agrees to register on one occasion, all or any
portion of the Purchase Options requested by the Majority Holders in the
Initial Demand Notice and all of the securities underlying such Purchase
Options, including the Units, Common Stock, the Warrants and the Common Stock
underlying the Warrants (collectively, the “Registrable Securities”).  On such occasion, the Company will file a
registration statement or a post-effective amendment to the Registration
Statement covering the Registrable Securities within sixty days after receipt
of the Initial Demand Notice and use its best efforts to have such registration
statement or post-effective amendment declared effective as soon as possible
thereafter.  The demand for registration
may be made at any time during a period of five years beginning on the
Effective Date.  The Company covenants
and agrees to give written notice of its receipt of any Initial Demand Notice
by any Holder(s) to all other registered Holders of the Purchase Options and/or
the Registrable Securities within ten days from the date of the receipt of any
such Initial Demand Notice.

 

5.1.2                        Terms.  The
Company shall bear all fees and expenses attendant to registering the
Registrable Securities, including the expenses of any legal counsel selected by
the Holders to represent them in connection with the sale of the Registrable
Securities, but the Holders shall pay any and all underwriting
commissions.  The Company agrees to use
its reasonable best efforts to qualify or register the Registrable Securities
in such States as are reasonably requested by the Majority Holder(s); provided,
however, that in no event shall the Company be required to register the
Registrable Securities in a State in which such registration would cause (i)
the Company to be obligated to qualify to do business in such State, or would
subject the Company to taxation as a foreign corporation doing business in such
jurisdiction or (ii) the principal stockholders of the Company to be obligated
to escrow their shares of capital stock of the Company.  The Company shall cause any registration
statement or post-effective amendment filed pursuant to the demand rights
granted under Section 5.1.1 to remain

 

3

 

effective for a period of twelve consecutive months from
the effective date of such registration statement or post-effective amendment.

 

5.2                                 “Piggy-Back” Registration.

 

5.2.1                        Grant of Right.  In addition to the demand right of
registration, the Holders of the Purchase Options shall have the right for a
period of seven years commencing on the Effective Date, to include the
Registrable Securities as part of any other registration of securities filed by
the Company (other than in connection with a transaction contemplated by Rule
145(a) promulgated under the Act or pursuant to Form S-8); provided, however,
that if, in the written opinion of the Company’s managing underwriter or
underwriters, if any, for such offering, the inclusion of the Registrable
Securities, when added to the securities being registered by the Company or the
selling stockholder(s), will exceed the maximum amount of the Company’s securities
which can be marketed (i) at a price reasonably related to their then current
market value, and (ii) without materially and adversely affecting the entire
offering, then the Company will still be required to include the Registrable
Securities, but may require the Holders to agree, in writing, to delay the sale
of all or any portion of the Registrable Securities for a period of 90 days
from the effective date of the offering, provided, further, that if the sale of
any Registrable Securities is so delayed, then the number of securities to be
sold by all stockholders in such public offering during such 90 day period
shall be apportioned pro rata among all such selling stockholders, including
all holders of the Registrable Securities, according to the total amount of
securities of the Company owned by said selling stockholders, including all holders of the Registrable
Securities.

 

5.2.2                        Terms.  The Company shall bear all fees and expenses
attendant to registering the Registrable Securities, including the expenses of
any legal counsel selected by the Holders to represent them in connection with
the sale of the Registrable Securities but the Holders shall pay any and all
underwriting commissions related to the Registrable Securities.  In the event of such a proposed registration,
the Company shall furnish the then Holders of outstanding Registrable
Securities with not less than fifteen days written notice prior to the proposed
date of filing of such registration statement. 
Such notice to the Holders shall continue to be given for each
applicable registration statement filed (during the period in which the
Purchase Option is exercisable) by the Company until such time as all of the
Registrable Securities have been registered and sold.  The holders of the Registrable Securities
shall exercise the “piggy-back” rights provided for herein by giving written
notice, within ten days of the receipt of the Company’s notice of its intention
to file a registration statement.  The
Company shall cause any registration statement filed pursuant to the above “piggyback”
rights to remain effective for at least nine months from the date that the
Holders of the Registrable Securities are first given the opportunity to sell
all of such securities.

 

5.3                                 Damages. 
Should the registration or the effectiveness thereof required by
Sections 5.1 and 5.2 hereof be delayed by the Company or the Company otherwise
fails to comply with such provisions, the Company shall, in addition to any
other equitable or other relief available to the Holder(s), be liable for any
and all incidental, special and consequential damages sustained by the
Holder(s), including, but not limited to, the loss of any profits that might
have been received by the holder upon the sale of shares of Common Stock or
Warrants (and shares of Common Stock underlying the Warrants) underlying this
Purchase Option.

 

5.4                                 General Terms.

 

5.4.1                        Indemnification.  The Company shall indemnify the Holder(s) of
the Registrable Securities to be sold pursuant to any registration statement hereunder
and each person, if any, who controls such Holders within the meaning of
Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934,
as amended (“Exchange Act”), against all loss, claim, damage, expense or
liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against
litigation, commenced or threatened, or any claim whatsoever whether arising
out of any action between the underwriter and the Company or between the
underwriter and any third party or otherwise) to which any of them may become
subject under the Act, the Exchange Act or otherwise, arising from such
registration statement but only to the same extent and with the same effect as
the provisions pursuant to which the Company has agreed to indemnify the
underwriters contained in Section 5 of the Underwriting Agreement between the
Company, Broadband and the other underwriters named therein dated the Effective
Date.  The Holder(s) of the Registrable
Securities to be sold pursuant to such registration statement, and their
successors and assigns, shall severally, and not jointly, indemnify the
Company, its

 

4

 

officers and
directors and each person, if any, who controls the Company within the meaning
of Section 15 of the Act or Section 20(a) of the Exchange Act, against all
loss, claim, damage, expense or liability (including all reasonable attorneys’
fees and other expenses reasonably incurred in investigating, preparing or
defending against any claim whatsoever) to which they may become subject under
the Act, the Exchange Act or otherwise, arising from information furnished by
or on behalf of such Holders, or their successors or assigns, in writing, for specific
inclusion in such registration statement to the same extent and with the same
effect as the provisions contained in Section 5 of the Underwriting Agreement
pursuant to which the underwriters have agreed to indemnify the Company.

 

5.4.2                        Exercise of Purchase Options.  Nothing contained in this Purchase Option
shall be construed as requiring the Holder(s) to exercise their Purchase
Options or Warrants underlying such Purchase Options prior to or after the
initial filing of any registration statement or the effectiveness thereof.

 

5.4.3                        Documents Delivered to Holders.  The Company shall furnish Broadband, as
representative of the Holders participating in any of the foregoing offerings,
a signed counterpart, addressed to the participating Holders, of (i) an opinion
of counsel to the Company, dated the effective date of such registration
statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under any underwriting agreement
related thereto), and (ii) a “cold comfort” letter dated the effective date of
such registration statement (and, if such registration includes an underwritten
public offering, a letter dated the date of the closing under the underwriting
agreement) signed by the independent public accountants who have issued a
report on the Company’s financial statements included in such registration
statement, in each case covering substantially the same matters with respect to
such registration statement (and the prospectus included therein) and, in the
case of such accountants’ letter, with respect to events subsequent to the date
of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten
public offerings of securities.  The
Company shall also deliver promptly to Broadband, as representative of the
Holders participating in the offering, the correspondence and memoranda
described below and copies of all correspondence between the Commission and the
Company, its counsel or auditors and all memoranda relating to discussions with
the Commission or its staff with respect to the registration statement and
permit Broadband, as representative of the Holders, to do such investigation,
upon reasonable advance notice, with respect to information contained in or
omitted from the registration statement as it deems reasonably necessary to
comply with applicable securities laws or rules of the National Association of
Securities Dealers, Inc (“NASD”).  Such
investigation shall include access to books, records and properties and
opportunities to discuss the business of the Company with its officers and
independent auditors, all to such reasonable extent and at such reasonable
times and as often as Broadband, as representative
of the Holders, shall reasonably request. 
The Company shall not be required to disclose any confidential
information or other records to Broadband, as representative of the Holders, or
to any other person, until and unless such persons shall have entered into
reasonable confidentiality agreements (in form and substance reasonably
satisfactory to the Company), with the Company with respect thereto.

 

5.4.4                        Underwriting Agreement.  The Company shall enter into an underwriting
agreement with the managing underwriter(s), if any, selected by any Holders
whose Registrable Securities are being registered pursuant to this Section 5,
which managing underwriter shall be reasonably acceptable to the Company.  Such agreement shall be reasonably
satisfactory in form and substance to the Company, each Holder and such
managing underwriters, and shall contain such representations, warranties and
covenants by the Company and such other terms as are customarily contained in
agreements of that type used by the managing underwriter.  The Holders shall be parties to any
underwriting agreement relating to an underwritten sale of their Registrable
Securities and may, at their option, require that any or all the
representations, warranties and covenants of the Company to or for the benefit
of such underwriters shall also be made to and for the benefit of such
Holders.  Such Holders shall not be
required to make any representations or warranties to or agreements with the
Company or the underwriters except as they may relate to such Holders and their
intended methods of distribution.  Such
Holders, however, shall agree to such covenants and indemnification and
contribution obligations for selling stockholders as are customarily contained
in agreements of that type used by the managing underwriter.  Further, such Holders shall execute
appropriate custody agreements and otherwise cooperate fully in the preparation
of the registration statement and other documents relating to any offering in
which they include securities pursuant to this Section 5.  Each Holder shall also furnish to the Company
such information regarding itself, the Registrable Securities held by it, and
the intended method of disposition of such securities as shall be reasonably
required to effect the registration of the Registrable Securities.

 

5

 

5.4.5                        Rule
144 Sale.  Notwithstanding
anything contained in this Section 5 to the contrary, the Company shall have no
obligation pursuant to Sections 5.1 or 5.2 for the registration of Registrable
Securities held by any Holder (i) where such Holder would then be entitled to
sell under Rule 144 within any three-month period (or such other period
prescribed under Rule 144 as may be provided by amendment thereof) all of the Registrable
Securities then held by such Holder, and (ii) where the number of Registrable
Securities held by such Holder is within the volume limitations under paragraph
(e) of Rule 144 (calculated as if such Holder were an affiliate within the
meaning of Rule 144).

 

5.4.6                        Supplemental Prospectus.  Each Holder agrees, that upon receipt of any
notice from the Company of the happening of any event as a result of which the
prospectus included in the Registration Statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing, such Holder will
immediately discontinue disposition of Registrable Securities pursuant to the
Registration Statement covering such Registrable Securities until such Holder’s
receipt of the copies of a supplemental or amended prospectus, and, if so
desired by the Company, such Holder shall deliver to the Company (at the
expense of the Company) or destroy (and deliver to the Company a certificate of
such destruction) all copies, other than permanent file copies then in such
Holder’s possession, of the prospectus covering such Registrable Securities
current at the time of receipt of such notice.

 

6.                                       Adjustments.

 

6.1                                 Adjustments to Exercise
Price and Number of Securities. 
The Exercise Price and the number of Units underlying the Purchase
Option shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1                        Stock Dividends - Split-Ups.  If after the date hereof, and subject to the
provisions of Section 6.4 below, the number of outstanding shares of Common
Stock is increased by a stock dividend payable in shares of Common Stock or by
a split-up of shares of Common Stock or other similar event, then, on the
effective date thereof, the number of shares of Common Stock underlying each of
the Units purchasable hereunder shall be increased in proportion to such
increase in outstanding shares.  In such
case, the number of shares of Common Stock, and the exercise price applicable
thereto, underlying the Warrants underlying each of the Units purchasable
hereunder shall be adjusted in accordance with the terms of the Warrants.  For example, if the Company declares a
two-for-one stock dividend and at the time of such dividend this Purchase
Option is for the purchase of one Unit at $7.50 per whole Unit (each Warrant
underlying the Units is exercisable for $6.00 per share), upon effectiveness of
the dividend, this Purchase Option will be adjusted to allow for the purchase
of one Unit at $7.50 per Unit, each Unit entitling the holder to receive two
shares of Common Stock and two Warrants (each Warrant exercisable for $3.00 per
share).

 

6.1.2                        Aggregation of Shares.  If after the date hereof, and subject to the
provisions of Section 6.4, the number of outstanding shares of Common Stock is
decreased by a consolidation, combination or reclassification of shares of
Common Stock or other similar event, then, on the effective date thereof, the
number of shares of Common Stock underlying each of the Units purchasable
hereunder shall be decreased in proportion to such decrease in outstanding
shares.  In such case, the number of
shares of Common Stock, and the exercise price applicable thereto, underlying
the Warrants underlying each of the Units purchasable hereunder shall be
adjusted in accordance with the terms of the Warrants.

 

6.1.3                        Replacement of Securities
upon Reorganization, etc.  In
case of any reclassification or reorganization of the outstanding shares of
Common Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or
that solely affects the par value of such shares of Common Stock, 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 shares of Common Stock), or in the case of
any sale or conveyance to another corporation or entity of the property of the
Company as an entirety or substantially as an entirety in connection with which
the Company is dissolved, the Holder of this Purchase Option shall have the
right thereafter (until the expiration of the right of exercise of this
Purchase Option) to receive upon the exercise hereof, for the same aggregate
Exercise Price payable hereunder immediately prior to such event, 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

 

6

 

following any such
sale or transfer, by a Holder of the number of shares of Common Stock of the
Company obtainable upon exercise of this Purchase Option and the underlying
Warrants immediately prior to such event; and if any reclassification also
results in a change in shares of Common Stock covered by Section 6.1.1 or
6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and
this Section 6.1.3  The provisions of
this Section 6.1.3 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers.

 

6.1.4                        Changes in Form of Purchase
Option.  This form of Purchase
Option need not be changed because of any change pursuant to this Section, and
Purchase Options issued after such change may state the same Exercise Price and
the same number of Units as are stated in the Purchase Options initially issued
pursuant to this Agreement.  The
acceptance by any Holder of the issuance of new Purchase Options reflecting a
required or permissive change shall not be deemed to waive any rights to an adjustment
occurring after the Commencement Date or the computation thereof.

 

6.2                                 [Intentionally Omitted].

 

6.3                                 Substitute Purchase Option.  In case of any consolidation of the Company
with, or merger of the Company with, or merger of the Company into, another
corporation (other than a consolidation or merger which does not result in any
reclassification or change of the outstanding Common Stock), the corporation
formed by such consolidation or merger shall execute and deliver to the Holder
a supplemental Purchase Option providing that the holder of each Purchase
Option then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Purchase Option) to receive, upon exercise
of such Purchase Option, the kind and amount of shares of stock and other
securities and property receivable upon such consolidation or merger, by a
holder of the number of shares of Common Stock of the Company for which such
Purchase Option might have been exercised immediately prior to such
consolidation, merger, sale or transfer. 
Such supplemental Purchase Option shall provide for adjustments which
shall be identical to the adjustments provided in Section 6.  The above provision of this Section shall
similarly apply to successive consolidations or mergers.

 

6.4                                 Elimination of Fractional
Interests.  The Company shall not
be required to issue certificates representing fractions of shares of Common
Stock or Warrants upon the exercise of the Purchase Option, nor shall it be
required to issue scrip or pay cash in lieu of any fractional interests, it
being the intent of the parties that all fractional interests shall be
eliminated by rounding any fraction up to the nearest whole number of Warrants,
shares of Common Stock or other securities, properties or rights.

 

7.                                       Reservation and Listing.  The Company shall at all times reserve and
keep available out of its authorized shares of Common Stock, solely for the
purpose of issuance upon exercise of the Purchase Options or the Warrants
underlying the Purchase Option, such number of shares of Common Stock or other
securities, properties or rights as shall be issuable upon the exercise
thereof.  The Company covenants and
agrees that, upon exercise of the Purchase Options and payment of the Exercise
Price therefor, all shares of Common Stock and other securities issuable upon
such exercise shall be duly and validly issued, fully paid and non-assessable
and not subject to preemptive rights of any stockholder.  The Company further covenants and agrees that
upon exercise of the Warrants underlying the Purchase Options and payment of
the respective Warrant exercise price therefor, all shares of Common Stock and
other securities issuable upon such exercise shall be duly and validly issued,
fully paid and non-assessable and not subject to preemptive rights of any
stockholder.  As long as the Purchase
Options shall be outstanding, the Company shall use its best efforts to cause
all (i) Units and shares of Common Stock issuable upon exercise of the Purchase
Options, (iii) Warrants issuable upon exercise of the Purchase Options and (iv)
shares of Common Stock issuable upon exercise of the Warrants included in the
Units issuable upon exercise of the Purchase Option to be listed (subject to
official notice of issuance) on all securities exchanges (or, if applicable on
the Nasdaq National Market, SmallCap Market, OTC Bulletin Board or any
successor trading market) on which the Units, the Common Stock or the Public
Warrants issued to the public in
connection herewith may then be listed and/or quoted.

 

8.                                       Certain Notice Requirements.

 

8.1                                 Holder’s Right to Receive Notice.  Nothing herein shall be construed as
conferring upon the Holders the right to vote or consent as a stockholder for
the election of directors or any other matter, or as having any rights
whatsoever as a stockholder of the Company. 
If, however, at any time prior to the expiration of the

 

7

 

Purchase Options
and their exercise, any of the events described in Section 8.2 shall occur,
then, in one or more of said events, the Company shall give written notice of
such event at least fifteen days prior to the date fixed as a record date or
the date of closing the transfer books for the determination of the
stockholders entitled to such dividend, distribution, conversion or exchange of
securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. 
Such notice shall specify such record date or the date of the closing of
the transfer books, as the case may be. 
Notwithstanding the foregoing, the Company shall deliver to each Holder
a copy of each notice given to the other stockholders of the Company at the
same time and in the same manner that such notice is given to the stockholders.

 

8.2                                 Events Requiring Notice.  The Company shall be required to give the
notice described in this Section 8 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its shares of Common
Stock for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable
otherwise than out of retained earnings, as indicated by the accounting
treatment of such dividend or distribution on the books of the Company, or (ii)
the Company shall offer to all the holders of its Common Stock any additional
shares of capital stock of the Company or securities convertible into or
exchangeable for shares of capital stock of the Company, or any option, right
or warrant to subscribe therefor, or (iii) a dissolution, liquidation or
winding up of the Company (other than in connection with a consolidation or
merger) or a sale of all or substantially all of its property, assets and
business shall be proposed.

 

8.3                                 Notice of Change in Exercise
Price.  The Company shall,
promptly after an event requiring a change in the Exercise Price pursuant to
Section 6 hereof, send notice to the Holders of such event and change (“Price
Notice”).   The Price Notice shall
describe the event causing the change and the method of calculating same and
shall be certified as being true and accurate by the Company’s President and
Chief Financial Officer.

 

8.4                                 Transmittal of Notices.  All notices, requests, consents and other
communications under this Purchase Option shall be in writing and shall be
deemed to have been duly made when hand delivered, or mailed by express mail or
private courier service: (i) If to the registered Holder of the Purchase
Option, to the address of such Holder as shown on the books of the Company, or (ii)
if to the Company, to the following address or to such other address as the
Company may designate by notice to the Holders:

 

Services Acquisition Corp. International

401 East Las Olas Boulevard,
Suite 1140

Fort Lauderdale, Florida
33301

Attn:  Chairman

 

9.                                       Miscellaneous.

 

9.1                                 Amendments. 
The Company and Broadband may from time to time supplement or amend this
Purchase Option without the approval of any of the Holders in order to cure any
ambiguity, to correct or supplement any provision contained herein that may be
defective or inconsistent with any other provisions herein, or to make any
other provisions in regard to matters or questions arising hereunder that the
Company and Broadband may deem necessary or desirable and that the Company and
Broadband deem shall not adversely affect the interest of the Holders.  All other modifications or amendments shall
require the written consent of and be signed by the party against whom
enforcement of the modification or amendment is sought.

 

9.2                                 Headings. 
The headings contained herein are for the sole purpose of convenience of
reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or
provisions of this Purchase Option.

 

10.                                 Entire Agreement.  This Purchase Option (together with the other
agreements and documents being delivered pursuant to or in connection with this
Purchase Option) constitutes the entire
agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and
written, with respect to the subject matter hereof.

 

8

 

10.1                           Binding Effect.  This Purchase Option shall inure solely to
the benefit of and shall be binding upon, the Holder and the Company and their
permitted assignees, respective successors, legal representative and assigns,
and no other person shall have or be construed to have any legal or equitable
right, remedy or claim under or in respect of or by virtue of this Purchase
Option or any provisions herein contained.

 

10.2                           Governing Law; Submission to
Jurisdiction.  This Purchase
Option 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.  The Company hereby agrees that any action,
proceeding or claim against it arising out of, or relating in any way to this
Purchase Option shall be brought and enforced in the courts of the State of New
York or of the United States of America 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
inconvenient forum.  Any 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 8 hereof.  Such mailing shall be deemed personal service
and shall be legal and binding upon the Company in any action, proceeding or
claim.  The Company and the Holder agree
that the prevailing party(ies) in any such action shall be entitled to recover
from the other party(ies) all of its reasonable attorneys’ fees and expenses
relating to such action or proceeding and/or incurred in connection with the
preparation therefor.

 

10.3                           Waiver, Etc. 
The failure of the Company or the Holder to at any time enforce any of
the provisions of this Purchase Option shall not be deemed or construed to be a
waiver of any such provision, nor to in any way affect the validity of this
Purchase Option or any provision hereof or the right of the Company or any
Holder to thereafter enforce each and every provision of this Purchase
Option.  No waiver of any breach,
non-compliance or non-fulfillment of any of the provisions of this Purchase
Option shall be effective unless set forth in a written instrument executed by
the party or parties against whom or which enforcement of such waiver is
sought; and no waiver of any such breach, non-compliance or non-fulfillment
shall be construed or deemed to be a waiver of any other or subsequent breach,
non-compliance or non-fulfillment.

 

10.4                           Execution in Counterparts.  This Purchase Option may be executed in one
or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to
be an original, but all of which taken together shall constitute one and the
same agreement, and shall become effective when one or more counterparts has
been signed by each of the parties hereto and delivered to each of the other
parties hereto.

 

10.5                           Exchange Agreement.  As a condition of the Holder’s receipt and
acceptance of this Purchase Option, Holder agrees that, at any time prior to
the complete exercise of this Purchase
Option by Holder, if the Company and Broadband enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Options
will be exchanged for securities or cash or a combination of both, then Holder
shall agree to such exchange and become a party to the Exchange Agreement.

 

10.6                           Underlying Warrants.  At any time after exercise by the Holder of
this Purchase Option, the Holder may exchange his Warrants (with a $7.50 exercise price) for Public Warrants (with a
$6.00 exercise price) upon payment to the Company of the difference between the
exercise price of his Warrant and the exercise price of the Public Warrants.

 

9

 

IN WITNESS WHEREOF, the Company has caused this
Purchase Option to be signed by its duly authorized officer as of the        
day of               , 2005.

 

	
   

  	
  SERVICES ACQUISITION CORP. INTERNATIONAL

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

Form to be used to exercise Purchase Option:

 

Services Acquisition Corp.
International

401 East Las Olas Boulevard, Suite 1140

Fort Lauderdale, Florida 33301

 

Date:                             ,
200    

 

The undersigned hereby elects irrevocably to exercise
all or a portion of the within Purchase Option and to purchase             
Units of Services Acquisition Corp. International and hereby makes payment of $                       
(at the rate of $                   
per Unit) in payment of the Exercise Price pursuant thereto.  Please issue the Common Stock and Warrants as
to which this Purchase Option is exercised in accordance with the instructions
given below.

 

or

 

The undersigned hereby elects irrevocably to convert
its right to purchase                    
Units purchasable under the within Purchase Option by surrender of the
unexercised portion of the attached Purchase Option (with a “Value” based of $            
based on a “Market Price” of $            ).  Please issue the securities comprising the
Units as to which this Purchase Option is exercised in accordance with the
instructions given below.

 

	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature Guaranteed

  

 

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

	
  Name

  	
   

  	
   

  
	
   

  	
  (Print in Block
  Letters)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address

  	
   

  	
   

  
				

 

NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND
WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY
PARTICULAR WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A
BANK, OTHER THAN A SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING
MEMBERSHIP ON A REGISTERED NATIONAL SECURITIES EXCHANGE.

 

 

Form to be used to assign Purchase Option:

 

ASSIGNMENT

 

(To be executed by the registered Holder to effect a
transfer of the within Purchase Option):

 

FOR VALUE RECEIVED,                                                                                      
does hereby sell, assign and transfer unto                                                                       
the right to purchase                      
Units of Services Acquisition Corp. International (“Company”) evidenced by the
within Purchase Option and does hereby authorize the Company to transfer such
right on the books of the Company.

 

Dated:                                   ,
200  

 

	
   

  	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature Guaranteed

  

 

NOTICE: THE SIGNATURE TO THIS FORM MUST CORRESPOND
WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY
PARTICULAR WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A
BANK, OTHER THAN A SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING
MEMBERSHIP ON A REGISTERED NATIONAL SECURITIES EXCHANGE.

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