Document:

NUMBER
 	
                        UNITS
 
	
                         
 	
                         
 
	
                        U [                    ]
 	
                         
 

 

	
                        SEE REVERSE FOR CERTAIN DEFINITIONS
 	
                        INTERNATIONAL BRANDS MANAGEMENT
 GROUP LTD.
 	
                        CUSIP ____________
 
	
                         
 	
                         
 	
                         
 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND WARRANTS TO PURCHASE ONE

SHARE OF COMMON STOCK

THIS CERTIFIES THAT ________________________________________________________________________

is the owner of ___________________________________________________________________________ Units.

Each Unit (“Unit”) consists of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of International Brands Management Group Ltd., a Delaware corporation (the “Company”), and one warrant (the “Warrant”). The Warrant entitles the holder to purchase one (1) share of Common Stock for $7.00 per share (subject to adjustment). The Warrant will become exercisable on the later of (i) the Company’s completion of a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination and (ii) __________, ___, 2010, and will expire unless exercised before 5:00 p.m., New York City Time, on __________, ___, 2012, or earlier upon redemption (the “Expiration Date”). The Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately prior to
__________, ___, 2008, subject to earlier separation; provided, however, in no event will the representative of the underwriters allow separate trading of the Common Stock and Warrants until the Company files, with the Securities and Exchange Commission, an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the offering. The terms of the Warrants are governed by a Warrant Agreement, dated as of __________, ___, 2008, between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at 17 Battery Place, New York, New York 10004, and are
available to any Warrant holder on written request and without cost. This certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

Witness the facsimile seal of the Company and the facsimile signature of its duly authorized officers.

INTERNATIONAL BRANDS MANAGEMENT GROUP LTD.

DELAWARE

CORPORATE SEAL 2007

*

 

By:

	

        
	
 
 	
                          
 
	
                        Chairman of the Board and Chief Executive Officer
 	
                         
 	
                        Secretary
 

 

 

INTERNATIONAL BRANDS MANAGEMENT GROUP LTD.

The Company will furnish without charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights. 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 

 

	
                        TEN COM –
 	
                        as tenants in common
 	
                        UNIF GIFT MIN ACT — 
 	__________________	Custodian
	__________________
	
                        TEN ENT –
 	
                        as tenants by the entireties
 	
                         
 	
                                         (Cust)
 	 	(Minor)

	
                        JT TEN –
 	
                        as joint tenants with right of
 survivorship and not as
 tenants in common
 	
                         
 	
                        under Uniform Gifts to Minors
 
	
                         
 	
                         
 	
                         
 	
                        Act ____________________________
 
	
                         
 	
                         
 	
                         
 	
                                                    (State)
 

Additional Abbreviations may also be used though not in the above list.

For value received, ________________________________________hereby sell, assign and transfer unto 

 

 

	
                        PLEASE INSERT SOCIAL SECURITY OR OTHER
 IDENTIFYING NUMBER OF ASSIGNEE
 	
                         
 
	
                         
 	
                         
 

 

	
                         
 
	
                        (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
 
	
                         
 
	
                         
 
	
                         
 	
                         Units
 
	
                        represented by the within Certificate, and do hereby irrevocably constitute and appoint
 	
                         
 
	
                         
 	
                         Attorney
 
	
                        to transfer the said Units on the books of the within named Company will full power of substitution in the premises.
 

Dated: ________________________

 

	
                          
 	
                         
 	
                          
 
	
                         
 	
                         
 	
                        Notice:
 	
                        The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.
 

Signature(s) Guaranteed: 

 

	
                         
 	
                         
 
	
                        THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).(SEE REVERSE SIDE FOR LEGEND)

 

	
                        NUMBER
 	
                        WARRANTS
 
	
                        W [               ]
 	
                         
 
	
                         
 	
                        CUSIP ___________
 

(THIS WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

NEW YORK CITY LOCAL TIME, __________ ___, 2012

INTERNATIONAL BRANDS MANAGEMENT GROUP LTD.

WARRANT

 

	
        THIS CERTIFIES THAT, for value received,
 
	
                         
 

is the registered holder of a Warrant or Warrants expiring __________ ___, 2012 (the “Warrant”) to purchase one fully paid and non-assessable share of Common Stock, par value $0.0001 per share (“Shares”), of International Brands Management Group Ltd., a Delaware corporation (the “Company”), for each Warrant evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the Company, commencing on the later of the Company’s completion of a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination (“Business Combination”) or __________ ___, 2009, such number of Shares of the Company at the price of $7.00 per share, upon surrender of this Warrant Certificate accompanied by the annexed duly executed exercise form and payment of the Warrant Price at the office or agency of the
Warrant Agent, Continental Stock Transfer & Trust Company (such payment to be made by check made payable to the Warrant Agent), but only subject to the conditions set forth herein and in the Warrant Agreement between the Company and Continental Stock Transfer & Trust Company (the “Warrant Agreement”). The Warrant Agreement provides that upon the occurrence of certain events the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted. The term Warrant Price as used in this Warrant Certificate refers to the price per Share at which Shares may be purchased at the time the Warrant is exercised.

     This Warrant may expire on the date first above written if it is not exercised prior to such date by the registered holder pursuant to the terms of the Warrant Agreement or if it is not redeemed by the Company prior to such date.

     No fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a Warrant would be entitled to receive a fraction of a Share upon any exercise of a Warrant, the Company shall, upon such exercise, round up to the nearest whole number the number of Shares to be issued to such holder.

     Upon any exercise of the Warrant for less than the total number of full Shares provided for herein, there shall be issued to the registered holder hereof or his assignee a new Warrant Certificate covering the number of Shares for which the Warrant has not been exercised.

     Warrant Certificates, when surrendered at the office or agency of the Warrant Agent by the registered holder hereof in person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants.

     Upon due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any applicable tax or other governmental charge.

     The Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

This Warrant does not entitle the registered holder to any of the rights of a stockholder of the Company.

The Company reserves the right to call the Warrant at any time prior to its exercise, with a notice of call in writing to the holders of record of the Warrant, giving 30 days’ notice of such call at any time after the Warrant becomes exercisable if the last sale price of the Shares has been at least $14.50 per share on each of 20 trading days within any 30 trading day period ending on the third business day prior to the date on which notice of such call is given. The call price of the Warrants is to be $0.01 per Warrant. Any Warrant either not exercised or tendered back to the Company by the end of the date specified in the notice of call shall be canceled on the books of the Company and have no further value except for the $0.01 call price. If the Warrants are called for redemption as described above, the Company will have the option to require any holder that wishes
  to exercise Warrants to do so on a “cashless basis”, in which case the registered holder may exercise this Warrant by surrendering same for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrant, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market Value” shall mean the average reported last sale price of the Shares for the 10 trading days ending on the third business day prior to the date on which notice of redemption is sent to the registered holder of this Warrant.

 

	
                         
 	
                         
 	
                        BY:
 	
                        INTERNATIONAL BRANDS MANAGEMENT GROUP LTD.
 
	
                         
 	
                         
 	
                         
 	
                         
 

 

 

	
                        COUNTERSIGNED:
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                        CONTINENTAL STOCK TRANSFER & TRUST COMPANY (NEW YORK, NY)
 	
                        AS WARRANT AGENT
 
	
                        BY: 
 	
                          
 	
                         
 	
                         
 	
                          
 
	
                         
 	
                         
 	
                         
 
	
                        Chairman of the Board and Chief Executive Officer
 	
                         
 	
                        Secretary
 

 

 

SUBSCRIPTION FORM

To Be Executed by the Registered Holder in Order to Exercise Warrants

The undersigned Registered Holder irrevocably elects to exercise ___ Warrants represented by this Warrant Certificate, and to purchase the shares of Common Stock issuable upon the exercise of such Warrants, and requests that Certificates for such shares shall be issued in the name of 

 

	
                         
 
	
                        (PLEASE TYPE OR PRINT NAME AND ADDRESS)
 
	
                         
 
	
                         
 
	
                         
 
	
                        (SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)
 
	
      and be delivered to
 	
                         
 
	
                         
 	
                        (PLEASE PRINT OR TYPE NAME AND ADDRESS)
 
	
                         
 
	
                        and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below: 
 

 

	
                        Dated: _________________
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                         
 	
                        (SIGNATURE)
 	
                         
 
	
                         
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                         
 	
                        (ADDRESS)
 	
                         
 
	
                         
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                         
 	
                        (TAX IDENTIFICATION NUMBER)
 	
                         
 

ASSIGNMENT

To Be Executed by the Registered Holder in Order to Assign Warrants

For Value Received, _________________________________ hereby sell, assign, and transfer unto

 

	
                         
 
	
                        (PLEASE TYPE OR PRINT NAME AND ADDRESS)
 
	
                         
 
	
                         
 
	
                         
 
	
                        (SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)
 
	
      and be delivered to
 	
                         
 
	
                         
 	
                        (PLEASE PRINT OR TYPE NAME AND ADDRESS)
 

_____________ of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint ________________ 

_____________ Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises. 

 

	
                        Dated: _________________
 	
                         
 	
                         
 	
                         
 
	
                         
 	
                         
 	
                        (SIGNATURE)
 	
                         
 

 

	
                        Signature(s) Guaranteed:
 	
                         
 
	
                         
 	
                         
 
	
                        THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).
 	
                         
 

THE SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE AMERICAN STOCK EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR CHICAGO STOCK EXCHANGE.

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