Document:

EXHIBIT 10.21

                          REGISTRATION RIGHTS AGREEMENT

         THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is entered into
as of the ____ day of ______, 2007, by and among InterAmerican Acquisition Group
Inc., a Delaware corporation (the "Company"), and the undersigned parties listed
under Investor on the signature page hereto (each, an "Investor" and
collectively, the "Investors").

         WHEREAS, the Investors currently hold all of the issued and outstanding
securities of the Company;

         WHEREAS, InterAmerican Capital Partners II LLC and one of our special
advisors (collectively, the "Warrant Purchasers") has entered into a Fourth
Amended and Restated Warrant Purchase Agreement, dated as of June 27, 2007 (the
"Warrant Purchase Agreement"), with the Company, pursuant to which the Warrant
Purchasers agree to purchase 1,000,000 of warrants to be issued by the Company
(the "Warrants");

         WHEREAS, the Investors and the Company desire to enter into this
Agreement to provide the Investors with certain rights relating to the
registration of shares of Common Stock held by them;

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         1.       DEFINITIONS. The following capitalized terms used herein have
the following meanings:

                  "Agreement" means this Agreement, as amended, restated,
supplemented, or otherwise modified from time to time.

                  "Announcement Date" means the date the Company files a Form
8-K with the Commission announcing the entering into of a definitive agreement
for the Business Combination.

                  "Business Combination" means the acquisition of direct or
indirect ownership through a merger, capital stock exchange, asset or stock
acquisition or other similar type of transaction, of an operating business or
businesses having collectively, a fair market value of at least 80% of the
Company's net assets at the time of such acquisition; provided, however, that,
any acquisition of multiple operating businesses shall occur contemporaneously
with one another target business.

                  "Commission" means the Securities and Exchange Commission, or
any other federal agency then administering the Securities Act or the Exchange
Act.

                  "Common Stock" means the common stock, par value $0.0001 per
share, of the Company.

                  "Company" is defined in the preamble to this Agreement.

                  "Demand Registration" is defined in Section 2.1.1.

                  "Demanding Holder" is defined in Section 2.1.1.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.

                  "First Release Date" means the date the Warrants are no longer
subject to lock-up pursuant to the Warrant Purchase Agreement.

                  "Form S-3" is defined in Section 2.3.

                  "Indemnified Party" is defined in Section 4.3.

                  "Indemnifying Party" is defined in Section 4.3.

                  "Investor" is defined in the preamble to this Agreement.

                  "Investor Indemnified Party" is defined in Section 4.1.

                  "Maximum Number of Shares" is defined in Section 2.1.4.

                  "Notices" is defined in Section 6.3.

                  "Piggy-Back Registration" is defined in Section 2.2.1.

                  "Register," "registered" and "registration" mean a
registration effected by preparing and filing a registration statement or
similar document in compliance with the requirements of the Securities Act, and
the applicable rules and regulations promulgated thereunder, and such
registration statement becoming effective.

                  "Registrable Securities" mean (i) all of the shares of Common
Stock owned or held by Investors, (ii) all of the Warrants owned or held by the
Warrant Purchasers, and (iii) the shares of Common Stock issuable upon exercise
of the Warrants. Registrable Securities include any warrants, shares of capital
stock or other securities of the Company issued as a dividend or other
distribution with respect to or in exchange for or in replacement of such shares
of Common Stock or the Warrants. As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when: (a) a
Registration Statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been
sold, transferred, disposed of or exchanged in accordance with such Registration
Statement; (b) such securities shall have been otherwise transferred, new
certificates for them not bearing a legend restricting further transfer shall
have been delivered by the Company and subsequent public distribution of them
shall not require registration under the Securities Act; (c) such securities
shall have ceased to be outstanding, or (d) the Securities and Exchange
Commission makes a definitive determination to the Company that the Registrable
Securities are saleable under Rule 144(k).

                  "Registration Statement" means a registration statement filed
by the Company with the Commission in compliance with the Securities Act and the
rules and regulations promulgated thereunder for a public offering and sale of
Common Stock (other than a registration statement on Form S-4 or Form S-8, or
their successors, or any registration statement covering only securities
proposed to be issued in exchange for securities or assets of another entity).

                  "Second Release Date" means the date on which shares of Common
Stock are disbursed from escrow pursuant to the first clause of Section 3 (i.e.
excluding the proviso to Section 3) of that certain Stock Escrow Agreement,
dated as of __________, 2007, by and among the parties hereto and Continental
Stock Transfer & Trust Company.

                  "Securities Act" means the Securities Act of 1933, as amended,
and the rules and regulations of the Commission promulgated thereunder, all as
the same shall be in effect at the time.

                  "Underwriter" means a securities dealer who purchases any
Registrable Securities as principal in an underwritten offering and not as part
of such dealer's market-making activities.

                  "Warrants" is defined in the preamble to this Agreement.

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               2. REGISTRATION RIGHTS.

                  2.1    Demand Registration.

                         2.1.1. Request for Registration. At any time and from
time to time on or after the Announcement Date, a majority-in-interest of the
Demanding Holders who are holders of the Warrants and the shares of Common Stock
issuable upon exercise thereof may make a written demand for registration under
the Securities Act of all or part of their Warrants and the shares of Common
Stock issuable upon exercise of the Warrants (the "First Demand Registration");
provided, however, such First Demand Registration shall not be declared
effective by the Commission until after the First Release Date. At any time and
from time to time on or after the Second Release Date, a majority-in-interest of
the Demanding Holders may make a written demand for registration under the
Securities Act of all or part of the Registrable Securities (the "Second Demand
Registration" and together with the First Demand Registration, a "Demand
Registration"). Any demand for a Demand Registration shall specify the number of
shares of Registrable Securities proposed to be sold and the intended method(s)
of distribution thereof. The Company will notify all holders of Registrable
Securities of the demand, and each holder of Registrable Securities who wishes
to include all or a portion of such holder's Registrable Securities in the
Demand Registration (each such holder including shares of Registrable Securities
in such registration, a "Demanding Holder") shall so notify the Company within
fifteen (15) days after the receipt by the holder of the notice from the
Company. Upon any such request, the Demanding Holders shall be entitled to have
their Registrable Securities included in the Demand Registration, subject to
Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not
be obligated to effect more than (i) one (1) Demand Registration prior to the
First Release Date and (ii) not more than two (2) Demand Registrations prior to
the Second Release Date under this Section 2.1.1 in respect of Registrable
Securities.

                         2.1.2. Effective Registration. A registration will not
count as a Demand Registration until the Registration Statement filed with the
Commission with respect to such Demand Registration has been declared effective
and the Company has complied with all of its obligations under this Agreement
with respect thereto; provided, however, that if, after such Registration
Statement has been declared effective, the offering of Registrable Securities
pursuant to a Demand Registration is interfered with by any stop order or
injunction of the Commission or any other governmental agency or court, the
Registration Statement with respect to such Demand Registration will be deemed
not to have been declared effective, unless and until, (i) such stop order or
injunction is removed, rescinded or otherwise terminated, and (ii) a
majority-in-interest of the Demanding Holders thereafter elect to continue the
offering; provided, further, that the Company shall not be obligated to file a
second Registration Statement until a Registration Statement that has been filed
is counted as a Demand Registration or is terminated.

                         2.1.3. Underwritten Offering. If a majority-in-interest
of the Demanding Holders so elect and such holders so advise the Company as part
of their written demand for a Demand Registration, the offering of such
Registrable Securities pursuant to such Demand Registration shall be in the form
of an underwritten offering. In such event, the right of any holder to include
its Registrable Securities in such registration shall be conditioned upon such
holder's participation in such underwriting and the inclusion of such holder's
Registrable Securities in the underwriting to the extent provided herein. All
Demanding Holders proposing to distribute their securities through such
underwriting shall enter into an underwriting agreement in customary form with
the Underwriter or Underwriters selected for such underwriting by a
majority-in-interest of the holders initiating the Demand Registration.

                         2.1.4. Reduction of Offering. Subject to the piggy-back
registration rights set forth in Section 5.2 of those certain Unit Purchase
Options to be issued to Chardan Capital Markets, LLC or its designees in
connection with the Company's initial public offering in _________ 2007 (the
"Unit Purchase Options"), which rights in no way shall be limited by the Maximum
Number of Shares (as hereafter defined) to be included in the registration
statement

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pursuant to this Section 2.1.4, if the managing Underwriter or Underwriters for
a Demand Registration that is to be an underwritten offering advise the Company
and the Demanding Holders in writing that the dollar amount or number of shares
of Registrable Securities which the Demanding Holders desire to sell, taken
together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock, if any, as to which
registration has been requested pursuant to written contractual piggy-back
registration rights held by other shareholders of the Company who desire to
sell, exceeds the maximum dollar amount or maximum number of shares that can be
sold in such offering without adversely affecting the proposed offering price,
the timing, the distribution method, or the probability of success of such
offering (such maximum dollar amount or maximum number of shares, as applicable,
but excluding the Warrants, the "Maximum Number of Shares"), then the Company
shall include in such registration: (i) first, the Registrable Securities as to
which Demand Registration has been requested by the Demanding Holders (pro rata
in accordance with the number of shares of Registrable Securities which such
Demanding Holder has requested be included in such registration, regardless of
the number of shares of Registrable Securities held by each Demanding Holder)
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to
the extent that the Maximum Number of Shares has not been reached under the
foregoing clause (i), the shares of Common Stock or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of
Shares; (iii) third, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (i) and (ii), the shares of Common
Stock for the account of other persons that the Company is obligated to register
pursuant to written contractual arrangements with such persons and that can be
sold without exceeding the Maximum Number of Shares; and (v) fourth, to the
extent that the Maximum Number of Shares have not been reached under the
foregoing clauses (i), (ii), and (iii), the shares of Common Stock that other
shareholders desire to sell that can be sold without exceeding the Maximum
Number of Shares.

                         2.1.5. Withdrawal. If a majority-in-interest of the
Demanding Holders disapprove of the terms of any underwriting or are not
entitled to include all of their Registrable Securities in any offering, such
majority-in-interest of the Demanding Holders may elect to withdraw from such
offering by giving written notice to the Company and the Underwriter or
Underwriters of their request to withdraw prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Demand
Registration. If the majority-in-interest of the Demanding Holders withdraws
from a proposed offering relating to a Demand Registration, then such
registration shall not count as a Demand Registration provided for in Section
2.1.1.

                 2.2     Piggy-Back Registration.

                         2.2.1. Piggy-Back Rights. If at any time on or after
the Release Date the Company proposes to file a Registration Statement under the
Securities Act with respect to an offering of equity securities, or securities
or other obligations exercisable or exchangeable for, or convertible into,
equity securities, by the Company for its own account or for shareholders of the
Company for their account (or by the Company and by shareholders of the Company
including, without limitation, pursuant to Section 2.1), other than a
Registration Statement (i) filed in connection with any employee stock option or
other benefit plan, (ii) for an exchange offer or offering of securities solely
to the Company's existing shareholders, (iii) for an offering of debt

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that is convertible into equity securities of the Company or (iv) for a dividend
reinvestment plan, then the Company shall (x) give written notice of such
proposed filing to the holders of Registrable Securities as soon as practicable
but in no event less than twenty (20) days before the anticipated filing date,
which notice shall describe the amount and type of securities to be included in
such offering, the intended method(s) of distribution, and the name of the
proposed managing Underwriter or Underwriters, if any, of the offering, and (y)
offer to the holders of Registrable Securities in such notice the opportunity to
register the sale of such number of shares of Registrable Securities as such
holders may request in writing within five (5) days following receipt of such
notice (a "Piggy-Back Registration"). The Company shall cause such Registrable
Securities to be included in such registration and shall use its best efforts to
cause the managing Underwriter or Underwriters of a proposed underwritten
offering to permit the Registrable Securities requested to be included in a
Piggy-Back Registration to be included on the same terms and conditions as any
similar securities of the Company and to permit the sale or other disposition of
such Registrable Securities in accordance with the intended method(s) of
distribution thereof. All holders of Registrable Securities proposing to
distribute their securities through a Piggy-Back Registration that involves an
Underwriter or Underwriters shall enter into an underwriting agreement in
customary form with the Underwriter or Underwriters selected for such Piggy-Back
Registration.

                         2.2.2. Reduction of Offering. Subject to the piggy-back
registration rights set forth in Section 5.2 of the Unit Purchase Options, which
rights in no way shall be limited by the Maximum Number of Shares to be included
in the registration statement pursuant to this Section 2.2.2, if the managing
Underwriter or Underwriters for a Piggy-Back Registration that is to be an
underwritten offering advises the Company and the holders of Registrable
Securities in writing that the dollar amount or number of shares of Common Stock
which the Company desires to sell, taken together with shares of Common Stock,
if any, as to which registration has been demanded pursuant to written
contractual arrangements with persons other than the holders of Registrable
Securities hereunder, the Registrable Securities as to which registration has
been requested under this Section 2.2, and the shares of Common Stock, if any,
as to which registration has been requested pursuant to the written contractual
piggy-back registration rights of other shareholders of the Company, exceeds the
Maximum Number of Shares, then the Company shall include in any such
registration:

                                (i) If the registration is undertaken for the
Company's account: (A) first, the shares of Common Stock or other securities
that the Company desires to sell that can be sold without exceeding the Maximum
Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock,
if any, including the Registrable Securities, as to which registration has been
requested pursuant to written contractual piggy-back registration rights of
security holders (pro rata in accordance with the number of shares of Common
Stock which each such person has actually requested to be included in such
registration, regardless of the number of shares of Common Stock with respect to
which such persons have the right to request such inclusion) that can be sold
without exceeding the Maximum Number of Shares; and

                                (ii) If the registration is a "demand"
registration undertaken at the demand of persons other than the holders of
Registrable Securities pursuant to written contractual arrangements with such
persons, (A) first, the shares of Common Stock for the

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account of the demanding persons that can be sold without exceeding the Maximum
Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock
or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; and (C) third, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clauses (A)
and (B), the Registrable Securities as to which registration has been requested
under this Section 2.2 (pro rata in accordance with the number of shares of
Registrable Securities held by each such holder); and (D) fourth, to the extent
that the Maximum Number of Shares has not been reached under the foregoing
clauses (A), (B) and (C), the shares of Common Stock, if any, as to which
registration has been requested pursuant to written contractual piggy-back
registration rights which other shareholders desire to sell that can be sold
without exceeding the Maximum Number of Shares.

                         2.2.3. Withdrawal. Any holder of Registrable Securities
may elect to withdraw such holder's request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the
Company of such request to withdraw prior to the effectiveness of the
Registration Statement. The Company may also elect to withdraw a registration
statement at any time prior to the effectiveness of the Registration Statement.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
by the holders of Registrable Securities in connection with such Piggy-Back
Registration as provided in Section 3.3.

               2.3 Registrations on Form S-3. The holders of Registrable
Securities may at any time and from time to time, request in writing that the
Company register the resale of any or all of such Registrable Securities on Form
S-3 or any similar short-form registration which may be available at such time
("Form S-3"); provided, however, that the Company shall not be obligated to
effect such request through an underwritten offering. Upon receipt of such
written request, the Company will promptly give written notice of the proposed
registration to all other holders of Registrable Securities, and, as soon as
practicable thereafter, effect the registration of all or such portion of such
holder's or holders' Registrable Securities as are specified in such request,
together with all or such portion of the Registrable Securities of any other
holder or holders joining in such request as are specified in a written request
given within fifteen (15) days after receipt of such written notice from the
Company; provided, however, that the Company shall not be obligated to effect
any such registration pursuant to this Section 2.3: (i) if Form S-3 is not
available for such offering; or (ii) if the holders of the Registrable
Securities, together with the holders of any other securities of the Company
entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at any aggregate price to the
public of less than $500,000. Registrations effected pursuant to this Section
2.3 shall not be counted as Demand Registrations effected pursuant to Section
2.1.

            3. REGISTRATION PROCEDURES.

               3.1 Filings; Information. Whenever the Company is required to
effect the registration of any Registrable Securities pursuant to Section 2, the
Company shall use its best efforts to effect the registration and sale of such
Registrable Securities in accordance with the intended method(s) of distribution
thereof as expeditiously as practicable, and in connection with any such
request:

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                         3.1.1. Filing Registration Statement. The Company
shall, as expeditiously as possible and in any event within sixty (60) days
after receipt of a request for a Demand Registration pursuant to Section 2.1,
prepare and file with the Commission a Registration Statement on any form for
which the Company then qualifies or which counsel for the Company shall deem
appropriate and which form shall be available for the sale of all Registrable
Securities to be registered thereunder in accordance with the intended method(s)
of distribution thereof, and shall use its best efforts to cause such
Registration Statement to become and remain effective for the period required by
Section 3.1.3; provided, however, that the Company shall have the right to defer
any Demand Registration for up to thirty (30) days, and any Piggy-Back
Registration for such period as may be applicable to deferral of any demand
registration to which such Piggy-Back Registration relates, in each case if the
Company shall furnish to the holders a certificate signed by the Chief Executive
Officer of the Company stating that, in the good faith judgment of the Board of
Directors of the Company, it would be materially detrimental to the Company and
its shareholders for such Registration Statement to be effected at such time;
provided further, however, that the Company shall not have the right to exercise
the right set forth in the immediately preceding proviso more than once in any
365-day period in respect of a Demand Registration hereunder.

                         3.1.2. Copies. The Company shall, prior to filing a
Registration Statement or prospectus, or any amendment or supplement thereto,
furnish without charge to the holders of Registrable Securities included in such
registration, and such holders' legal counsel, copies of such Registration
Statement as proposed to be filed, each amendment and supplement to such
Registration Statement (in each case including all exhibits thereto and
documents incorporated by reference therein), the prospectus included in such
Registration Statement (including each preliminary prospectus), and such other
documents as the holders of Registrable Securities included in such registration
or legal counsel for any such holders may request in order to facilitate the
disposition of the Registrable Securities owned by such holders.

                         3.1.3. Amendments and Supplements. The Company shall
prepare and file with the Commission such amendments, including post-effective
amendments, and supplements to such Registration Statement and the prospectus
used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act
until all Registrable Securities and other securities covered by such
Registration Statement have been disposed of in accordance with the intended
method(s) of distribution set forth in such Registration Statement (which period
shall not exceed the sum of one hundred eighty (180) days plus any period during
which any such disposition is interfered with by any stop order or injunction of
the Commission or any governmental agency or court) or such securities have been
withdrawn.

                         3.1.4. Notification. After the filing of a Registration
Statement, the Company shall promptly, and in no event more than two (2)
business days after such filing, notify the holders of Registrable Securities
included in such Registration Statement of such filing, and shall further notify
such holders promptly and confirm such advice in writing in all events within
two (2) business days of the occurrence of any of the following: (i) when such
Registration Statement becomes effective; (ii) when any post-effective amendment
to such Registration Statement becomes effective; (iii) the issuance or
threatened issuance by the Commission of any stop order (and the Company shall
take all actions required to prevent the

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entry of such stop order or to remove it if entered); and (iv) any request by
the Commission for any amendment or supplement to such Registration Statement or
any prospectus relating thereto or for additional information or of the
occurrence of an event requiring the preparation of a supplement or amendment to
such prospectus so that, as thereafter delivered to the purchasers of the
securities covered by such Registration Statement, such prospectus will not
contain an untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein
not misleading, and promptly make available to the holders of Registrable
Securities included in such Registration Statement any such supplement or
amendment; except that before filing with the Commission a Registration
Statement or prospectus or any amendment or supplement thereto, including
documents incorporated by reference, the Company shall furnish to the holders of
Registrable Securities included in such Registration Statement and to the legal
counsel for any such holders, copies of all such documents proposed to be filed
sufficiently in advance of filing to provide such holders and legal counsel with
a reasonable opportunity to review such documents and comment thereon, and the
Company shall not file any Registration Statement or prospectus or amendment or
supplement thereto, including documents incorporated by reference, to which such
holders or their legal counsel shall object.

                         3.1.5. State Securities Laws Compliance. The Company
shall use its best efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or "blue sky" laws
of such jurisdictions in the United States as the holders of Registrable
Securities included in such Registration Statement (in light of their intended
plan of distribution) may request and (ii) take such action necessary to cause
such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other Governmental Authorities as may be
necessary by virtue of the business and operations of the Company and do any and
all other acts and things that may be necessary or advisable to enable the
holders of Registrable Securities included in such Registration Statement to
consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally
to do business in any jurisdiction where it would not otherwise be required to
qualify but for this Section 3.1.5 or subject itself to taxation in any such
jurisdiction.

                         3.1.6. Agreements for Disposition. The Company shall
enter into customary agreements (including, if applicable, an underwriting
agreement in customary form) and take such other actions as are reasonably
required in order to expedite or facilitate the disposition of such Registrable
Securities. The representations, warranties and covenants of the Company in any
underwriting agreement which are made to or for the benefit of any Underwriters,
to the extent applicable, shall also be made to and for the benefit of the
holders of Registrable Securities included in such registration statement. No
holder of Registrable Securities included in such registration statement shall
be required to make any representations or warranties in the underwriting
agreement except, if applicable, with respect to such holder's organization,
good standing, authority, title to Registrable Securities, lack of conflict of
such sale with such holder's material agreements and organizational documents,
and with respect to written information relating to such holder that such holder
has furnished in writing expressly for inclusion in such Registration Statement.

                         3.1.7. Cooperation. The principal executive officer of
the Company, the

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principal financial officer of the Company, the principal accounting officer of
the Company and all other officers and members of the management of the Company
shall cooperate fully in any offering of Registrable Securities hereunder, which
cooperation shall include, without limitation, the preparation of the
Registration Statement with respect to such offering and all other offering
materials and related documents, and participation in meetings with
Underwriters, attorneys, accountants and potential investors.

                         3.1.8. Records. The Company shall make available for
inspection by the holders of Registrable Securities included in such
Registration Statement, any Underwriter participating in any disposition
pursuant to such registration statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such
Registration Statement or any Underwriter, all financial and other records,
pertinent corporate documents and properties of the Company, as shall be
necessary to enable them to exercise their due diligence responsibility, and
cause the Company's officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.

                         3.1.9. Opinions and Comfort Letters. The Company shall
furnish to each holder of Registrable Securities included in any Registration
Statement a signed counterpart, addressed to such holder, of (i) any opinion of
counsel to the Company delivered to any Underwriter and (ii) any comfort letter
from the Company's independent public accountants delivered to any Underwriter.
In the event no legal opinion is delivered to any Underwriter, the Company shall
furnish to each holder of Registrable Securities included in such Registration
Statement, at any time that such holder elects to use a prospectus, an opinion
of counsel to the Company to the effect that the Registration Statement
containing such prospectus has been declared effective and that no stop order is
in effect.

                         3.1.10. Earnings Statement. The Company shall comply
with all applicable rules and regulations of the Commission and the Securities
Act, and make available to its shareholders, as soon as practicable, an earnings
statement covering a period of twelve (12) months, beginning within three (3)
months after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act
and Rule 158 thereunder.

                         3.1.11. Listing. The Company shall use its best efforts
to cause all Registrable Securities included in any registration to be listed on
such exchanges or otherwise designated for trading in the same manner as similar
securities issued by the Company are then listed or designated or, if no such
similar securities are then listed or designated, in a manner satisfactory to
the holders of a majority of the Registrable Securities included in such
registration.

                3.2      Obligation to Suspend Distribution. Upon receipt of any
notice from the Company of the happening of any event of the kind described in
Section 3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant
to Section 2.3 hereof, upon any suspension by the Company, pursuant to a written
insider trading compliance program adopted by the Company's Board of Directors,
of the ability of all "insiders" covered by such program to transact in the
Company's securities because of the existence of material non-public
information, each holder of Registrable Securities included in any registration
shall immediately discontinue disposition of

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such Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until such holder receives the supplemented or amended
prospectus contemplated by Section 3.1.4(iv) or the restriction on the ability
of "insiders" to transact in the Company's securities is removed, as applicable,
and, if so directed by the Company, each such holder will deliver to the Company
all copies, other than permanent file copies then in such holder's possession,
of the most recent prospectus covering such Registrable Securities at the time
of receipt of such notice.

               3.3       Registration Expenses. The Company shall bear all costs
and expenses incurred in connection with any Demand Registration pursuant to
Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any
registration on Form S-3 effected pursuant to Section 2.3, and all expenses
incurred in performing or complying with its other obligations under this
Agreement, whether or not the Registration Statement becomes effective,
including, without limitation: (i) all registration and filing fees; (ii) fees
and expenses of compliance with securities or "blue sky" laws (including fees
and disbursements of counsel in connection with blue sky qualifications of the
Registrable Securities); (iii) printing expenses; (iv) the Company's internal
expenses (including, without limitation, all salaries and expenses of its
officers and employees); (v) the fees and expenses incurred in connection with
the listing of the Registrable Securities as required by Section 3.1.11; (vi)
National Association of Securities Dealers, Inc. fees; (vii) fees and
disbursements of counsel for the Company and fees and expenses for independent
certified public accountants retained by the Company (including the expenses or
costs associated with the delivery of any opinions or comfort letters requested
pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts
retained by the Company in connection with such registration and (ix) the fees
and expenses of one legal counsel selected by the holders of a
majority-in-interest of the Registrable Securities included in such
registration. The Company shall have no obligation to pay any underwriting
discounts or selling commissions attributable to the Registrable Securities
being sold by the holders thereof, which underwriting discounts or selling
commissions shall be borne by such holders. Additionally, in an underwritten
offering, all selling shareholders and the Company shall bear the expenses of
the underwriter pro rata in proportion to the respective amount of shares each
is selling in such offering.

               3.4       Information. The holders of Registrable Securities
shall provide such information as may reasonably be requested by the Company, or
the managing Underwriter, if any, in connection with the preparation of any
Registration Statement, including amendments and supplements thereto, in order
to effect the registration of any Registrable Securities under the Securities
Act pursuant to Section 2 and in connection with the Company's obligation to
comply with federal and applicable state securities laws.

            4. INDEMNIFICATION AND CONTRIBUTION.

               4.1       Indemnification by the Company. The Company agrees to
indemnify and hold harmless each Investor and each other holder of Registrable
Securities, and each of their respective officers, employees, affiliates,
directors, partners, members, attorneys and agents, and each person, if any, who
controls an Investor and each other holder of Registrable Securities (within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act)
(each, an "Investor Indemnified Party"), from and against any expenses, losses,
judgments,

                                       10

claims, damages or liabilities, whether joint or several, arising out of or
based upon any untrue statement (or allegedly untrue statement) of a
material fact contained in any Registration Statement under which the sale of
such Registrable Securities was registered under the Securities Act, any
preliminary prospectus, final prospectus or summary prospectus contained in the
Registration Statement, or any amendment or supplement to such Registration
Statement, or arising out of or based upon any omission (or alleged omission) to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading, or any violation by the Company of the
Securities Act or any rule or regulation promulgated thereunder applicable to
the Company and relating to action or inaction required of the Company in
connection with any such registration; and the Company shall promptly reimburse
the Investor Indemnified Party for any legal and any other expenses reasonably
incurred by such Investor Indemnified Party in connection with investigating and
defending any such expense, loss, judgment, claim, damage, liability or action;
provided, however, that the Company will not be liable in any such case to the
extent that any such expense, loss, claim, damage or liability arises out of or
is based upon any untrue statement or allegedly untrue statement or omission or
alleged omission made in such Registration Statement, preliminary prospectus,
final prospectus, or summary prospectus, or any such amendment or supplement, in
reliance upon and in conformity with information furnished to the Company, in
writing, by such selling holder expressly for use therein. The Company also
shall indemnify any Underwriter of the Registrable Securities, their officers,
affiliates, directors, partners, members and agents and each person who controls
such Underwriter on substantially the same basis as that of the indemnification
provided above in this Section 4.1.

               4.2       Indemnification by Holders of Registrable Securities.
Each selling holder of Registrable Securities will, in the event that any
registration is being effected under the Securities Act pursuant to this
Agreement of any Registrable Securities held by such selling holder, indemnify
and hold harmless the Company, each of its directors and officers and each
underwriter (if any), and each other person, if any, who controls such selling
holder or such underwriter within the meaning of the Securities Act, against any
losses, claims, judgments, damages or liabilities, whether joint or several,
insofar as such losses, claims, judgments, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or
allegedly untrue statement of a material fact contained in any Registration
Statement under which the sale of such Registrable Securities was registered
under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained in the Registration Statement, or any amendment or
supplement to the Registration Statement, or arise out of or are based upon any
omission or the alleged omission to state a material fact required to be stated
therein or necessary to make the statement therein not misleading, if the
statement or omission was made in reliance upon and in conformity with
information furnished in writing to the Company by such selling holder expressly
for use therein, and shall reimburse the Company, its directors and officers,
and each such controlling person for any legal or other expenses reasonably
incurred by any of them in connection with investigation or defending any such
loss, claim, damage, liability or action. Each selling holder's indemnification
obligations hereunder shall be several and not joint and shall be limited to the
amount of any net proceeds actually received by such selling holder.

               4.3       Conduct of Indemnification Proceedings. Promptly after
receipt by any person of any notice of any loss, claim, damage or liability or
any action in respect of which

                                       11

indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the
"Indemnified Party") shall, if a claim in respect thereof is to be made against
any other person for indemnification hereunder, notify such other person (the
"Indemnifying Party") in writing of the loss, claim, judgment, damage, liability
or action; provided, however, that the failure by the Indemnified Party to
notify the Indemnifying Party shall not relieve the Indemnifying Party from any
liability which the Indemnifying Party may have to such Indemnified Party
hereunder, except and solely to the extent the Indemnifying Party is actually
prejudiced by such failure. If the Indemnified Party is seeking indemnification
with respect to any claim or action brought against the Indemnified Party, then
the Indemnifying Party shall be entitled to participate in such claim or action,
and, to the extent that it wishes, jointly with all other Indemnifying Parties,
to assume control of the defense thereof with counsel satisfactory to the
Indemnified Party. After notice from the Indemnifying Party to the Indemnified
Party of its election to assume control of the defense of such claim or action,
the Indemnifying Party shall not be liable to the Indemnified Party for any
legal or other expenses subsequently incurred by the Indemnified Party in
connection with the defense thereof other than reasonable costs of
investigation; provided, however, that in any action in which both the
Indemnified Party and the Indemnifying Party are named as defendants, the
Indemnified Party shall have the right to employ separate counsel (but no more
than one such separate counsel) to represent the Indemnified Party and its
controlling persons who may be subject to liability arising out of any claim in
respect of which indemnity may be sought by the Indemnified Party against the
Indemnifying Party, with the fees and expenses of such counsel to be paid by
such Indemnifying Party if, based upon the written opinion of counsel of such
Indemnified Party, representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interests between them. No
Indemnifying Party shall, without the prior written consent of the Indemnified
Party, consent to entry of judgment or effect any settlement of any claim or
pending or threatened proceeding in respect of which the Indemnified Party is or
could have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such judgment or settlement includes an unconditional
release of such Indemnified Party from all liability arising out of such claim
or proceeding.

               4.4       Contribution.

                         4.4.1. If the indemnification provided for in the
foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in
respect of any loss, claim, damage, liability or action referred to herein, then
each such Indemnifying Party, in lieu of indemnifying such Indemnified Party,
shall contribute to the amount paid or payable by such Indemnified Party as a
result of such loss, claim, damage, liability or action in such proportion as is
appropriate to reflect the relative fault of the Indemnified Parties and the
Indemnifying Parties in connection with the actions or omissions which resulted
in such loss, claim, damage, liability or action, as well as any other relevant
equitable considerations. The relative fault of any Indemnified Party and any
Indemnifying Party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by such Indemnified Party or such Indemnifying Party and the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.

                         4.4.2. The parties hereto agree that it would not be
just and equitable if

                                       12

contribution pursuant to this Section 4.4 were determined by pro rata allocation
or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding Section 4.4.1.
The amount paid or payable by an Indemnified Party as a result of any loss,
claim, damage, liability or action referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses incurred by such Indemnified Party in
connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 4.4, no holder of Registrable
Securities shall be required to contribute any amount in excess of the dollar
amount of the net proceeds (after payment of any underwriting fees, discounts,
commissions or taxes) actually received by such holder from the sale of
Registrable Securities which gave rise to such contribution obligation. No
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.

           5. UNDERWRITING AND DISTRIBUTION.

              5.1 Rule 144. The Company covenants that it shall file any
reports required to be filed by it under the Securities Act and the Exchange Act
and shall take such further action as the holders of Registrable Securities may
reasonably request, all to the extent required from time to time to enable such
holders to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144 under the
Securities Act, as such Rules may be amended from time to time, or any similar
Rule or regulation hereafter adopted by the Commission.

           6. MISCELLANEOUS.

              6.1 Other Registration Rights. Except for the registration rights
granted to Chardan Capital Markets, LLC pursuant to the Unit Purchase Options
issued, or to be issued, by the Company, the Company represents and warrants
that no person, other than a holder of the Registrable Securities, has any right
to require the Company to register any shares of the Company's capital stock for
sale or to include shares of the Company's capital stock in any registration
filed by the Company for the sale of shares of capital stock for its own account
or for the account of any other person.

              6.2 Assignment; No Third Party Beneficiaries. This Agreement and
the rights, duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part. This Agreement and the rights,
duties and obligations of the holders of Registrable Securities hereunder may be
freely assigned or delegated by such holder of Registrable Securities in
conjunction with and to the extent of any transfer of Registrable Securities by
any such holder. This Agreement and the provisions hereof shall be binding upon
and shall inure to the benefit of each of the parties and their respective
successors and the permitted assigns of the Investor or holder of Registrable
Securities or of any assignee of the Investor or holder of Registrable
Securities. This Agreement is not intended to confer any rights or benefits on
any persons that are not party hereto other than as expressly set forth in
Article 4 and this Section 6.2.

                                       13

               6.3 Notices. All notices, demands, requests, consents, approvals
or other communications (collectively, "Notices") required or permitted to be
given hereunder or which are given with respect to this Agreement shall be in
writing and shall be personally served, delivered by reputable air courier
service with charges prepaid, or transmitted by hand delivery, telegram, telex
or facsimile, addressed as set forth below, or to such other address as such
party shall have specified most recently by written notice. Notice shall be
deemed given on the date of service or transmission if personally served or
transmitted by telegram, telex or facsimile; provided, that if such service or
transmission is not on a business day or is after normal business hours, then
such notice shall be deemed given on the next business day. Notice otherwise
sent as provided herein shall be deemed given on the next business day following
timely delivery of such notice to a reputable air courier service with an order
for next-day delivery.

                           To the Company:

                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537
                           Attention:  Chief Executive Officer

                           with copies to:

                           Kramer Levin Naftalis & Frankel LLP
                           1177 Avenue of the Americas
                           New York, New York 10036
                           Fax No.: (212) 715-8000
                           Attn:    Christopher S. Auguste, Esq.; and

                           Loeb & Loeb LLP
                           345 Park Avenue
                           New York, New York 10154
                           Fax No.: (212) 407-4990

                           Attention: Mitchell S. Nussbaum, Esq.

                           To an Investor, to:

                           William C. Morro                   ; or
                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           Dr. Richard N. Sinkin ; or

                                       14

                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           Richard M. Wolfson                          ; or
                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           James Bazet                                 ; or
                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           InterAmerican Capital Partners II LLC; or
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           Dr. Herminio A. Blanco Mendoza; or
                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Fax No.: (619) 298-3537

                           Richard Propper
                           ------------------------------------

                           ------------------------------------

                           ------------------------------------

                           Fax No.
                                   ----------------------------

                           Steven Oliveira
                           ------------------------------------

                           ------------------------------------

                           ------------------------------------

                           Fax No.
                                   ----------------------------

                           with copies to:

                           Kramer Levin Naftalis & Frankel LLP
                           1177 Avenue of the Americas
                           New York, New York 10036
                           Fax No.: (212) 715-8000
                           Attn:    Christopher S. Auguste, Esq.; and

                           Loeb & Loeb LLP
                           345 Park Avenue
                           New York, New York 10154
                           Fax No.: (212) 407-4990
                           Attn: Mitchell S. Nussbaum, Esq.

               6.4 Severability. This Agreement shall be deemed severable, and
the invalidity or unenforceability of any term or provision hereof shall not
affect the validity or enforceability of this Agreement or of any other term or
provision hereof. Furthermore, in lieu of any such invalid or unenforceable term
or provision, the parties hereto intend that there shall

                                       15

be added as a part of this Agreement a provision as similar in terms to such
invalid or unenforceable provision as may be possible and be valid and
enforceable.

               6.5 Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original, and all of which taken
together shall constitute one and the same instrument.

               6.6 Entire Agreement. This Agreement (including all agreements
entered into pursuant hereto and all certificates and instruments delivered
pursuant hereto and thereto) constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede all prior and contemporaneous
agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written.

               6.7 Modifications and Amendments. No amendment, modification or
termination of this Agreement shall be binding upon any party unless executed in
writing by such party.

               6.8 Titles and Headings. Titles and headings of sections of this
Agreement are for convenience only and shall not affect the construction of any
provision of this Agreement.

               6.9 Waivers and Extensions. Any party to this Agreement may waive
any right, breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is in
writing, is signed by such party, and specifically refers to this Agreement.
Waivers may be made in advance or after the right waived has arisen or the
breach or default waived has occurred. Any waiver may be conditional. No waiver
of any breach of any agreement or provision herein contained shall be deemed a
waiver of any preceding or succeeding breach thereof nor of any other agreement
or provision herein contained. No waiver or extension of time for performance of
any obligations or acts shall be deemed a waiver or extension of the time for
performance of any other obligations or acts.

               6.10 Remedies Cumulative. In the event that the Company fails to
observe or perform any covenant or agreement to be observed or performed under
this Agreement, the Investor or any other holder of Registrable Securities may
proceed to protect and enforce its rights by suit in equity or action at law,
whether for specific performance of any term contained in this Agreement or for
an injunction against the breach of any such term or in aid of the exercise of
any power granted in this Agreement or to enforce any other legal or equitable
right, or to take any one or more of such actions, without being required to
post a bond. None of the rights, powers or remedies conferred under this
Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether
conferred by this Agreement or now or hereafter available at law, in equity, by
statute or otherwise.

               6.11 Governing Law. This Agreement shall be governed by,
interpreted under, and construed in accordance with the internal laws of the
State of New York applicable to agreements made and to be performed within the
State of New York, without giving effect to any choice-of-law provisions thereof
that would compel the application of the substantive laws of any other
jurisdiction.

                                       16

               6.12 Waiver of Trial by Jury. Each party hereby irrevocably and
unconditionally waives the right to a trial by jury in any action, suit,
counterclaim or other proceeding (whether based on contract, tort or otherwise)
arising out of, connected with or relating to this Agreement, the transactions
contemplated hereby, or the actions of the Investor in the negotiation,
administration, performance or enforcement hereof.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       17

         IN WITNESS WHEREOF, the parties have caused this Registration Rights
Agreement to be executed and delivered by their duly authorized representatives
as of the date first written above.

                                     INTERAMERICAN ACQUISITION GROUP INC.
                                     A Delaware corporation

                            By:      ______________________________
                                     William C. Morro, Chief Executive Officer

                                     INITIAL STOCKHOLDERS:

                                     ---------------------------
                                     William C. Morro

                                     ---------------------------
                                     Dr. Richard N. Sinkin

                                     ---------------------------
                                     Richard M. Wolfson

                                     ---------------------------
                                     James Bazet

                                     ---------------------------
                                     Dr. Herminio A. Blanco Mendoza

                                     INTERAMERICAN CAPITAL PARTNERS II LLC

                            By:      ______________________________
                                     Name:
                                     Title:

                                     ------------------------------
                                            Richard Propper

                                     ------------------------------
                                            Steven Oliveira

                                       18FOURTH AMENDED AND RESTATED WARRANT PURCHASE AGREEMENT
	 

	 
		THIS FOURTH AMENDED AND RESTATED WARRANT PURCHASE AGREEMENT (this
		“Agreement”) is entered into as of the 27th day of June
		2007, by and among InterAmerican Acquisition Group Inc., a Delaware corporation
		(the “Company”), InterAmerican Capital Partners II LLC, a Delaware
		limited liability company (“ICP”), and Richard Propper
		(“Propper” and together with ICP, the “Purchasers”).
	 

	 
		W I T N E S S E T H:
	 

	 
		

	 

	 
		WHEREAS, the Company intends to sell in an initial public offering
		(“IPO”) of units consisting of one share of common stock, par value
		$0.0001 per share (the “Common Stock”) and one warrant to purchase
		shares of the Company’s common stock (the “Units”);
	 

	 
		WHEREAS, in order to induce institutional investors to invest in
		the IPO, the Purchasers have agreed to purchase warrants (the
		“Warrants”) to purchase shares of Common Stock with terms
		substantially similar to the terms of the warrants included as part of the
		units to be sold in the IPO;
	 

	 
		WHEREAS, the Company shall issue and sell to the Purchasers, and
		the Purchasers agree to purchase, the number of Warrants set forth on
		Exhibit A hereto with respect to such Purchaser, subject to the terms
		and conditions set forth below;
	 

	 
		WHEREAS, on October 21, 2005, the Company and ICP entered into a
		Warrant Purchase Agreement (the “Original Agreement”);
	 

	 
		

	 

	 
		WHEREAS, the Company and ICP are parties to that certain Third
		Amended and Restated Warrant Purchase Agreement, dated as of June 2, 2006 (the
		“Third Amended Agreement”), that certain Second Amended and Restated
		Warrant Purchase Agreement, dated as of April 18, 2006 (the “Second
		Amended Agreement”), and the Amended and Restated Warrant Purchase
		Agreement, dated as of dated December 5, 2005 (the “First Amended
		Agreement”), which amended and restated the Original Agreement in its
		entirety; and
	 

	 
		WHEREAS, the Company and the Purchasers desire to further amend
		and restate the Warrant Purchase Agreement.
	 

	 
		

	 

	 
		NOW, THEREFORE, in consideration of the premises and of the mutual
		covenants and agreements hereinafter set forth and for other good and valuable
		consideration, the receipt and sufficiency of which are hereby acknowledged,
		the parties hereto hereby agree as follows:
	 

	 
		1.
	 

	 
		Purchase Price.  On the basis of the representations,
		warranties, covenants and agreements, and subject to the terms and conditions
		set forth herein, upon the Closing hereof (as that term is defined in Section 2
		below), the Company agrees to sell, transfer, convey and deliver to the
		Purchasers or cause to be delivered to the Purchasers and the Purchasers agree
		to purchase, acquire and accept delivery from the Company of an aggregate of
		1,000,000 Warrants, for a purchase price per Warrant of $1.50, and an aggregate
		purchase price of One Million Five Hundred Thousand Dollars ($1,500,000) (the
		“Purchase Price”).  The Purchase Price shall be payable by the
		Purchasers to the Company in full at Closing.  Each Purchaser shall
		purchase the number of Warrants and pay the portion of the Purchase Price set
		forth opposite its or his name on Exhibit A hereto.
	 

	 
		2.
	 

	 
		Closing for Sale of the Warrants.  The closing for the
		purchase and sale of the Warrants
	 

	 
		
 

	 

	 
		

	 

	 
		-1-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		

	 

	 
		shall occur prior to the consummation of the IPO at the offices of the
		Company or at such other mutually convenient time or at such other mutually
		convenient place as agreed upon by the parties (the “Closing”).
		 At the Closing, the Company shall deliver or cause to be delivered to the
		Purchasers one or more certificates representing the Warrants of the Company
		registered in the applicable Purchaser’s name, and the Purchasers shall
		pay the Purchase Price. The parties acknowledge that ICP may transfer all or a
		portion of its obligations to purchase the Warrants hereunder to the principals
		of ICP or any of their affiliates prior to the Closing and any Warrants
		purchased by ICP may be transferred to its principals or any of their
		affiliates, with any such transfers being subject to ICP providing written
		notice to the Company of such transfer and any transferee agreeing in writing
		to be bound by the terms of this Agreement, including, without limitation, any
		transfer restrictions.
	 

	 
		3.
	 

	 
		Representations and Warranties of the Company.  In order to
		induce the Purchasers to enter into this Agreement and to purchase the
		Warrants, the Company  hereby represents and warrants to each of the
		Purchasers as follows:
	 

	 
		(a)
	 

	 
		The Company is a corporation duly organized, validly existing and in good
		standing under the laws of the State of Delaware and has all requisite
		corporate power and authority to own its properties and assets and to carry on
		its business as now conducted and as presently proposed to be conducted.
	 

	 
		(b)
	 

	 
		All corporate action on the part of the Company’s directors and
		stockholders necessary for the authorization, execution, delivery of, and the
		performance of all obligations of the Company under, this Agreement and the
		Warrants, has been taken or will be taken prior to the Closing, and this
		Agreement constitutes, and the Warrants when executed and delivered, will
		constitute, valid and legally binding obligations of the Company, enforceable
		in accordance with their respective terms, except as may be limited by (i)
		applicable bankruptcy, insolvency, reorganization or other laws of general
		application relating to or affecting the enforcement of creditor’s rights
		generally and (ii) the effect of rules of law governing the availability of
		equitable remedies.
	 

	 
		(c)
	 

	 
		The Company has the corporate power to execute and deliver this Agreement
		and the Warrants to be purchased by the Purchasers  hereunder, to issue
		the Warrants and to carry out and perform all its obligations under this
		Agreement and the Warrants.
	 

	 
		(d)
	 

	 
		The Company is not in violation or default of any provisions of its
		Certificate of Incorporation or Bylaws or in any material respect of any
		instrument, judgment, order, writ, decree, or contract to which it is a party
		or by which it is bound. The execution, delivery and performance of and
		compliance with this Agreement and the Warrants have not resulted and will not
		result in any material violation of, or conflict with, any instrument,
		judgment, order, writ, decree, or contract to which the Company is a party or
		by which the Company is bound.
	 

	 
		4.
	 

	 
		Representations and Warranties of the Purchasers.  In order
		to induce the Company to enter into this Agreement and to sell the Warrants,
		each Purchaser hereby represents and warrants (except with respect to subclause
		(a) below, in which case only ICP represents and warrants) to the Company as
		follows:
	 

	 
		(a)
	 

	 
		ICP is a limited liability company, duly organized, validly existing and
		in good standing under the laws of Delaware.  ICP (i) has full power and
		authority to own and operate its properties and assets and to conduct and carry
		on its business as it is now being conducted and operated, and (ii) is duly
		qualified to do business and is in good standing, and is duly licensed,
		authorized or qualified to transact or conduct business, in each jurisdiction
		in which the ownership or lease of real property or the conduct of its business
		requires it to be so licensed, authorized or qualified.
	 

	 
		(b)
	 

	 
		This Agreement constitutes each Purchaser’s valid and legally
		binding obligation, enforceable in accordance with its terms except as may be
		limited by (i) applicable bankruptcy, insolvency, reorganization or other laws
		of general application relating to or affecting the enforcement of
		creditors’
	 

	 
		
 

	 

	 
		

	 

	 
		-2-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		rights generally and (ii) the effect of rules of law governing the
		availability of equitable remedies. Each Purchaser represents that it has full
		power and authority to enter into this Agreement.
	 

	 
		(c)
	 

	 
		The Warrants and the shares of the Company’s capital stock issuable
		upon exercise of the Warrants (collectively, the “Securities”) will
		be acquired for investment for such Purchaser’s own account, not as a
		nominee or agent, and not with a view to the public resale or distribution
		thereof within the meaning of the Act.
	 

	 
		(d)
	 

	 
		The Purchaser is an “accredited investor” within the meaning of
		Regulation D promulgated under the Act.
	 

	 
		(e)
	 

	 
		Each Purchaser understands that the Securities are characterized as
		“restricted securities” under the Act and Rule 144 promulgated
		thereunder inasmuch as they are being acquired from the Company in a
		transaction not involving a public offering, and that under the Act and
		applicable regulations thereunder such securities may not be resold without
		registration under the Act only in certain limited circumstances.  The
		certificates for such Warrants shall contain a legend indicating such
		restriction on transferability.
	 

	 
		5.
	 

	 
		Registration Rights; Warrant Agent.  The Warrants and the
		shares of Common Stock issuable upon exercise of the Warrants shall be
		registered by the Company pursuant to a Registration Rights Agreement between
		the Company and the Purchasers.  Prior to the date that the Securities and
		Exchange Commission declares the registration statement effective, the
		Purchasers will enter into a warrant agreement, or amend any existing warrant
		agreement between the Company and Continental Stock Transfer & Trust
		Company, as warrant agent (the “Warrant Agent”), to provide that the
		Warrant Agent shall act on behalf of the Company in connection with the
		issuance, regis­tration, transfer, exchange, redemption and exercise of the
		Warrants.
	 

	 
		6.
	 

	 
		Warrant Adjustments.
	 

	 
		

	 

	 
		6.1.
	 

	 
		Stock Dividends; Split-Ups.  If after the date hereof, and
		subject to the provisions of Section 6.6 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.
	 

	 
		

	 

	 
		6.2.
	 

	 
		Aggregation of Shares.  If after the date hereof, and subject
		to the provisions of Section 6.6, 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.
	 

	 
		

	 

	 
		6.3
	 

	 
		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 6.1 and 6.2 above, the warrant exercise price shall be
		adjusted (to the nearest cent) by multiplying such warrant exercise 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.
	 

	 
		

	 

	 
		
 

	 

	 
		

	 

	 
		-3-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		6.4.
	 

	 
		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 6.1 or 6.2 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 6.1 or 6.2, then such adjustment shall be
		made pursuant to Sections 6.1, 6.2, 6.3 and this Section 6.4.
		 The provisions of this Section 6.4 shall similarly apply to
		successive reclassifications, reorganizations, mergers or consolidations, sales
		or other transfers.
	 

	 
		

	 

	 
		6.5.
	 

	 
		Notices of Changes in Warrant.  Upon every adjustment of the
		warrant exercise 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 exercise 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 6.1, 6.2, 6.3 or 6.4, then, in any such event, the Company shall give
		written notice to each Warrant holder, at the last address set forth for such
		holder in the warrant register, of the record date or the effective date of the
		event.  Failure to give such notice, or any defect therein, shall not
		affect the legality or validity of such event.
	 

	 
		

	 

	 
		6.6.
	 

	 
		No Fractional Shares.  Notwithstanding any provi­sion
		contained in this 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 6, 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.
	 

	 
		

	 

	 
		6.7.
	 

	 
		Form of Warrant.  The form of Warrant need not be changed
		because of any adjustment pursuant to this Section 6, and Warrants issued after
		such adjustment may state the same warrant exercise 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.
	 

	 
		

	 

	 
		7.
	 

	 
		Miscellaneous.
	 

	 
		(a)
	 

	 
		Each Purchaser agrees that it will not sell, transfer or otherwise
		dispose of the Warrants or any shares of Common Stock issuable upon exercise of
		the Warrants until after the Company has consummated a merger, capital stock
		exchange, asset acquisition or other similar business combination as
		contemplated by the registration statement on Form S-1 filed in connection with
		the IPO.  The certificates
	 

	 
		
 

	 

	 
		

	 

	 
		-4-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		for such Warrants shall contain a legend indicating such restriction on
		transferability.
	 

	 
		

	 

	 
		-5-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		

	 

	 
		(b)
	 

	 
		This Agreement (i) cannot be amended, modified or terminated except in
		writing signed by both of the parties hereto, (ii) sets forth the entire
		understanding of the parties with respect to the subject matter hereof and
		(iii) supersedes any and all prior agreements or arrangements with respect
		thereto.
	 

	 
		(c)
	 

	 
		This Agreement constitutes the entire agreement of the parties with
		respect to the subject matter hereof and supersedes any and all prior written
		or verbal agreement with respect to the subject matter hereof including without
		limitation the Original Agreement, the First Amended Agreement and the Second
		Amended Agreement.
	 

	 
		(d)
	 

	 
		The parties agree to execute and deliver such other and further documents
		and to take such action as may be reasonably necessary or desirable to give
		effect to any of the provisions of this Agreement.
	 

	 
		(e)
	 

	 
		If any provisions of this Agreement shall be held to be invalid or
		unenforceable, such invalidity or unenforceability shall attach only to such
		provision and shall not in any way affect or render invalid or unenforceable
		any other severable provision of this Agreement, and this Agreement shall be
		carried out as if any invalid or unenforceable provision were not embodied
		herein.
	 

	 
		(f)
	 

	 
		The Section headings contained herein are for the purposes of convenience
		only and are not intended to define or limit the contents thereof.
	 

	 
		(g)
	 

	 
		This Agreement shall be governed by, construed and enforced in accordance
		with the internal laws of the State of Delaware, without reference to
		principles of conflict of laws.
	 

	 
		(h)
	 

	 
		This Agreement shall be binding upon and inure solely to the benefit of
		the parties hereto and their respective successors and permitted assigns.
	 

	 
		(i)
	 

	 
		This Agreement may be executed in one or more counterparts, each of which
		shall be deemed to be an original, but all of which shall constitute one and
		the same
	 

	 
		
 

	 

	 
		

	 

	 
		-6-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		

	 

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

	 
		InterAmerican Acquisition Group Inc.
	 

	 
		

	 

	 
		

	 

	 
		By:_______________________________
	 

	 
		Name: William C. Morro
	 

	 
		Title: Chief Executive Officer
	 

	 
		

	 

	 
		InterAmerican Capital Partners II LLC
	 

	 
		

	 

	 
		

	 

	 
		
	 

	 
		By:_______________________________
	 

	 
		Name: William C. Morro
	 

	 
		Title:  Managing Member
	 

	 
		

	 

	 
		

	 

	 
		__________________________________
	 

	 
		Richard Propper
	 

	 
		
 

	 

	 
		

	 

	 
		-7-
	 

	 
		

	 

	 
		

	 

	 
 
	 
		

	 

	 
		

	 

	 
		Exhibit A
	 

	 
		

	 

	 	Name of Purchaser	Number of Warrants	Purchase Price
	 InterAmerican Capital Partners II LLC 	800,000	$1,200,000
	Richard Propper 	200,000	$   300,000

	 
		
	 

	 
		
	 

	 
		
	 

	 
		

	 

	 
	 

	 
	 

	 
		

	 

	 
	 

	 
	 

	 
		
 

	 

	 
		

	 

	 
		-8-

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