Document:

EXHIBIT
      4.5

    WARRANT
      AGREEMENT

    

    Agreement
      made as of __________, 2007 between China Fortune Acquisition Corp., a Cayman
      Islands corporation, with offices at Jinmao
      Tower, 88 Century Boulevard, Suite 4403, Pudong, Shanghai, People’s Republic of
      China 200121
      (“Company”), and Continental Stock Transfer & Trust Company, a New York
      corporation, with offices at 17 Battery Place, New York, New York 10004
      (“Warrant Agent”).

    

    WHEREAS,
      the Company has received a
      binding
      commitment from Bo Yu (the “Insider”) to purchase an aggregate of 250,000 units
      (“Insider Units”), pursuant to which 250,000 warrants (“Insider Warrants”) will
      be issued; and

    

    WHEREAS,
      the Company is engaged in a public offering (“Public Offering”) of Units and, in
      connection therewith, has determined to issue and deliver up to (i) 9,200,000
      Warrants (“Public Warrants”) to the public investors, and (ii) 400,000
      Warrants to EarlyBirdCapital, Inc. (“EBC”) or its designees (“Representative’s
      Warrants” and, together with the Public Warrants and Insider Warrants, the
“Warrants”), each of such Warrants evidencing the right of the holder thereof to
      purchase one ordinary share of the Company, par value $.0001 per share
      (“Ordinary Shares”), for $6.00, subject to adjustment as described herein;
      and

    

    WHEREAS,
      the Company has filed with the Securities and Exchange Commission a Registration
      Statement on Form F-1, No. 333-137797 (“Registration Statement”), for the
      registration, under the Securities Act of 1933, as amended (“Act”) of, among
      other securities, the Warrants and the Ordinary Shares issuable upon exercise
      of
      the Warrants; and

    

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

    

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

    

    WHEREAS,
      all acts and things have been done and performed which are necessary to make
      the
      Warrants, when executed on behalf of the Company and countersigned by or on
      behalf of the Warrant

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

      Agent,
        as
        provided herein, the valid, binding and legal obligations of the Company,
        and to
        authorize the execution and delivery of this Agreement.

    

    

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

    

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

    

    2. Warrants.

    

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

    

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

    

    2.3. Registration.
      

    

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

    

    2.3.2. Registered
      Holder.
      Prior
      to due presentment for registration of transfer of any Warrant, the Company
      and
      the Warrant Agent may deem and treat the person in whose name such Warrant
      shall
      be registered upon the Warrant Register (“registered holder”), as the absolute
      owner of such Warrant

     

    
      
        
        

      

      
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    and
      of
      each Warrant represented thereby (notwithstanding any notation of ownership
      or
      other writing on the Warrant Certificate made by anyone other than the Company
      or the Warrant Agent), for the purpose of any exercise thereof, and for all
      other purposes, and neither the Company nor the Warrant Agent shall be affected
      by any notice to the contrary.

    

    2.4. Detachability
      of Warrants.
      The
      securities comprising the Units will not be separately transferable until 90
      days after the date hereof unless EBC informs the Company of its decision to
      allow earlier separate trading, but in no event will EBC allow separate trading
      of the securities comprising the Units until the Company files a Current Report
      on Form 8-K which includes an audited balance sheet reflecting the receipt
      by
      the Company of the gross proceeds of the Public Offering including the proceeds
      received by the Company from the exercise of the Underwriter’s over-allotment
      option, if the over-allotment option is exercised prior to the filing of the
      Form 8-K. 

    

    2.5 Warrant
      Attributes.
      The
      Insider Warrants and Representative’s Warrants shall have the same terms and be
      in the same form as the Public Warrants.

    

    3. Terms
      and Exercise of Warrants

    

    3.1. Warrant
      Price.
      Each
      Warrant shall, when counter-signed by the Warrant Agent, entitle the registered
      holder thereof, subject to the provisions of such Warrant and of this Warrant
      Agreement, to purchase from the Company the number of Ordinary Shares stated
      therein, at the price of $6.00 per whole share, subject to the adjustments
      provided in Section 4 hereof and in the last sentence of this Section 3.1.
      The
      term “Warrant Price” as used in this Warrant Agreement refers to the price per
      share at which Ordinary Shares may be purchased at the time a Warrant is
      exercised. The Company in its sole discretion may lower the Warrant Price at
      any
      time prior to the Expiration Date. 

    

    3.2. Duration
      of Warrants.
      A
      Warrant may be exercised only during the period (“Exercise Period”) commencing
      on the later of (i) the consummation by the Company of a merger,
      capital stock exchange, asset acquisition or other similar business combination
      (“Business
      Combination”) (as described more fully in the Company’s Registration Statement)
      and (ii) ______, 2008, and terminating at 5:00 p.m., New York City time on
      the
      earlier to occur of (i) _________, 2011 or (ii) the date fixed for
      redemption of the Warrants as provided in Section 6 of this Agreement
      (“Expiration Date”). Except with respect to the right to receive the Redemption
      Price (as set forth in Section 6 hereunder), each Warrant not exercised on
      or
      before the Expiration Date shall become void, and all rights thereunder and
      all
      rights in respect thereof under this Agreement shall cease at the close of
      business on the Expiration Date. The Company in its sole

     

    
      
        
        

      

      
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    discretion
      may extend the duration of the Warrants by delaying the Expiration Date.

    

    3.3. Exercise
      of Warrants.

    

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

    

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

    

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

    

    (c) with
      respect to any Insider Warrants,
      in
      the
      event of redemption pursuant to Section 6 hereof other than as
      set
      forth in the above Section 3.3.1(b) and so long as such Insider Warrants are
      held by the Insiders or their affiliates,
      by
      surrendering such Insider Warrants for that number of Ordinary Shares equal
      to
      the quotient obtained by dividing (x) the product of the number of Ordinary
      Shares underlying the Warrants, multiplied by the difference between the
      exercise price of the Warrants and the “Fair Market Value” by (y) the Fair
      Market Value. 

    

    3.3.2. Issuance
      of Certificates.
      As soon
      as practicable after the exercise of any Warrant

     

    
      
        
        

      

      
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    and
      the
      clearance of the funds in payment of the Warrant Price, the Company shall issue
      to the registered holder of such Warrant a certificate or certificates for
      the
      number of full shares of Common Stock to which he is entitled, registered in
      such name or names as may be directed by him, her or it, and if such Warrant
      shall not have been exercised in full, a new countersigned Warrant for the
      number of shares as to which such Warrant shall not have been exercised.
      Notwithstanding the foregoing, the Company shall not be obligated to deliver
      any
      securities pursuant to the exercise of a Public Warrant or a Representative’s
      Warrant and shall have no obligation to settle such Public Warrant or
      Representative’s Warrant exercise unless a registration statement under the Act
      with respect to the Common Stock is effective, subject to the Company’s
      satisfying its obligations under Section 7.4 to use its best efforts. In the
      event that a registration statement with respect to the Common Stock underlying
      a Public Warrant or a Representative’s Warrant is not effective under the Act,
      the holder of such Public Warrant or Representative’s Warrant shall not be
      entitled to exercise such Warrant and such Warrant may have no value and expire
      worthless. In no event will the Company be required to net cash settle the
      warrant exercise. Public Warrants and Representative’s Warrants may not be
      exercised by, or securities issued to, any registered holder in any state in
      which such exercise would be unlawful. The shares of common stock issuable
      upon
      exercise of Insider Warrants shall be unregistered shares. In the event that
      a
      registration statement is not effective for the exercised Public Warrants and
      Representative’s Warrants, the purchaser of a unit containing such Warrant, will
      have paid the full purchase price for the unit solely for the shares included
      in
      such unit.

    

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

    

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

     

    
      
        
        

      

      
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    3.3.5. Intentionally
      Omitted. 

    

    4. Adjustments.

    

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

    

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

    

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

    

    4.4. Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding Ordinary Shares
      (other than a change covered by Section 4.1 or 4.2 hereof or that solely
      affects the par value of such Ordinary Shares), or in the case of any merger
      or
      consolidation of the Company with or into another corporation (other than a
      consolidation or merger in which the Company is the continuing corporation
      and
      that does not result in any reclassification or reorganization of the
      outstanding Ordinary Shares), or in the case of any sale or conveyance to
      another corporation or entity of the assets or other property of the Company
      as
      an entirety or substantially as an entirety in connection with which the Company
      is dissolved, the Warrant holders shall thereafter have the right to purchase
      and receive, upon the basis and upon the terms and conditions specified in
      the
      Warrants and in lieu of the Ordinary Shares of the Company immediately
      theretofore purchasable and receivable upon the exercise of the rights
      represented thereby, the kind and amount of shares of stock or
      other

     

    
      
        
        

      

      
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    securities
      or property (including cash) receivable upon such reclassification,
      reorganization, merger or consolidation, or upon a dissolution following any
      such sale or transfer, that the Warrant holder would have received if such
      Warrant holder had exercised his, her or its Warrant(s) immediately prior to
      such event; and if any reclassification also results in a change in Ordinary
      Shares covered by Section 4.1 or 4.2, then such adjustment shall be made
      pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The
      provisions of this Section 4.4 shall similarly apply to successive
      reclassifications, reorganizations, mergers or consolidations, sales or other
      transfers.

    

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

    

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

    

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

     

    
      
        
        

      

      
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    5. Transfer
      and Exchange of Warrants.

    

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

    

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

    

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

    

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

    

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

     

    
      
        
        

      

      
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    6. Redemption.

    

    6.1. Redemption.
      Subject
      to Section 6.4 hereof, not
      less
      than all of the outstanding Warrants
      may be redeemed, at the option of the Company, at any time while they are
      exercisable and prior to their expiration, at the office of the Warrant Agent,
      upon the notice referred to in Section 6.2, at the price of $.01 per
      Warrant (“Redemption Price”), provided that the last sales price of the Ordinary
      Shares has been at least $11.50 per share (subject to adjustment in accordance
      with Section 4 hereof), on each of twenty (20) trading days within any thirty
      (30) trading day period ending on the third business day prior to the date
      on
      which notice of redemption is given. 

    

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

    

    6.3. Exercise
      After Notice of Redemption.
      The
      Warrants may be exercised, for cash (or on a “cashless basis” in accordance with
      Section 3.3.1 of this Agreement) at any time after notice of redemption shall
      have been given by the Company pursuant to Section 6.2 hereof and prior to
      the
      time and date fixed for redemption. In the event the Company determines to
      require all holders of Warrants to exercise their Warrants on a “cashless basis”
pursuant to Section 3.3.1(b), the notice of redemption will contain the
      information necessary to calculate the number of Ordinary Shares to be received
      upon exercise of the Warrants, including the “Fair Market Value” in such case.
      On and after the redemption date, the record holder of the Warrants shall have
      no further rights except to receive, upon surrender of the Warrants, the
      Redemption Price.

    

    6.4 Intentionally
      Omitted.
      

     

    
      
        
        

      

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

    

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

    

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

    

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

    

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

     

    
      
        
        

      

      
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    8. Concerning
      the Warrant Agent and Other Matters.

    

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

    

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

    

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

    

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

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

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

    

    8.3. Fees
      and Expenses of Warrant Agent.

    

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

    

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

    

    8.4. Liability
      of Warrant Agent.

    

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

    

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

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

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

    

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

    

    9. Miscellaneous
      Provisions.

    

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

    

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

    

    
      	 	 	 	
              China
                Fortune Acquisition Corp.

            

    

    Jinmao
      Tower

    88
      Century Boulevard, Suite 4403

    Pudong,
      Shanghai

    People’s
      Republic of China 200121

    
      	 	 	 	
              Attn:

            	
              Chief
                Executive Officer

            

    

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

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

    

    
      	 	 	 	
              Continental
                Stock Transfer & Trust Company 

            

    

    17
      Battery Place

    
      	 	 	 	
              New
                York, New York 10004

            

    

    
      	 	 	 	
              Attn:

            	
              Compliance
                Department

            

    

    

    with
      a
      copy in each case to:

    

    Graubard
      Miller

    The
      Chrysler Building

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn: David
      Alan Miller, Esq.

    

    and

    

    Blank
      Rome LLP

    The
      Chrysler Building

    405
      Lexington Avenue 

    New
      York,
      New York 10174

    Attn:
      Robert J. Mittman, Esq.

    

    and

    

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue, 27th Floor

    New
      York,
      New York 10016

    Attn: David
      M.
      Nussbaum, Chairman

     

    

    9.3. Applicable
      law.
      The
      validity, interpretation, and performance of this Agreement and of the Warrants
      shall be governed in all respects by the laws of the State of New York, without
      giving effect to conflicts of law principles that would result in the
      application of the substantive laws of another jurisdiction. The
      Company hereby agrees that any action, proceeding or claim against it arising
      out of or relating in any way to this Agreement shall be brought and enforced
      in
      the courts of the State of New York or the United States District Court for
      the
      Southern District of New York, and irrevocably submits to such jurisdiction,
      which jurisdiction shall be exclusive. The Company hereby waives any objection
      to such

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

     

    exclusive
      jurisdiction and that such courts represent an inconvenience forum. Any such
      process or summons to be served upon the Company may be served by transmitting
      a
      copy thereof by registered or certified mail, return receipt requested, postage
      prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such
      mailing shall be deemed personal service and shall be legal and binding upon
      the
      Company in any action, proceeding or claim.

    

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

    

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

    

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

    

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

    

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

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

    

     

    Notwithstanding
      the foregoing, the Company may lower the Warrant Price or extend the duration
      of
      the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without
      the
      consent of the registered holders.

     

    
      
        
        

      

      
        -16-

        
          

        

      

      
        
        

      

    

    

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

     

    CHINA
      FORTUNE ACQUISITION CORP.

    

    

    By: ____________________________________

    Name:

    Title:

    

    

    CONTINENTAL
      STOCK TRANSFER 

    &
      TRUST COMPANY

    

    

    By: ____________________________________

    Name:

    Title:

     

    
      
        
        

      

      -17-Unassociated Document

    Exhibit
      10.1

    RACKABLE
      SYSTEMS, INC. 

    STOCK
      UNIT GRANT NOTICE

    (2005
      EQUITY INCENTIVE PLAN)

     

    Rackable
      Systems, Inc. (the “Company”),
      pursuant to Section 7(c) of the Company’s 2005 Equity Incentive Plan (the
“Plan”),
      hereby awards to Participant a Stock Unit Award covering the number of stock
      units (the “Stock
      Units”)
      set
      forth below (the “Award”).
      This
      Award shall be evidenced by a Stock Unit Award Agreement (the “Award
      Agreement”).
      This
      Award is subject to all of the terms and conditions as set forth herein and
      in
      the applicable Award Agreement and the Plan, each of which are attached hereto
      and incorporated herein in their entirety. 

     

    
      	Participant:	 	 
	Date
              of
              Grant:	 	 
	Vesting
              Commencement Date:	 	 
	Number
              of Stock Units:	 	 
	Payment
              for Common Stock:	 	Participant’s
              services to the
              Company

    

     

    Vesting
      Schedule:
      The
      Stock Units shall vest in a series of sixteen (16) successive equal quarterly
      installments over the four (4)-year period measured from the Vesting
      Commencement Date. 

     

    
      	
              Special
                Tax Withholding Right:

            	
               ̈

            	
              You
                may direct the Company (i) to withhold, from shares otherwise issuable
                upon vesting of the Award, a portion of those shares with an aggregate
                fair market value (measured as of the vesting date) equal to the
                amount of
                the applicable withholding taxes, and (ii) to make a cash payment
                equal to
                such fair market value directly to the appropriate taxing authorities,
                as
                provided in Section 10 of the Award Agreement.

            
	 	
               ̈

            	
              None

            

    

     

    Delivery
      Schedule:
      Delivery of one share of Common Stock for each Stock Unit which vests shall
      occur on the applicable vesting date, provided that delivery may be delayed
      as
      provided in Section 3 of the Award Agreement. 

     

    Additional
      Terms/Acknowledgements:
      Participant acknowledges receipt of, and understands and agrees to, this Grant
      Notice, the Award Agreement and the Plan. Participant further acknowledges
      that
      as of the Date of Grant, this Grant Notice, the Award Agreement and the Plan
      set
      forth the entire understanding between Participant and the Company regarding
      the
      award of the Stock Units and the underlying Common Stock and supersede all
      prior
      oral and written agreements on that subject with the exception of (i) Stock
      Awards previously granted and delivered to Participant under the Plan, and
      (ii) the following agreements only:

     

    OTHER
      AGREEMENTS:                   
___________________________________________________

     

     

    
      	RACKABLE SYSTEMS,
              INC. 	 	PARTICIPANT
	 	 	 	 	 
	By:	 	 	 	 
	 	
                                              
                Signature

            	 	 	                                
              Signature
	 	 	 	 	 
	Title:	 	 	Date:	 
	 	 	 	 	 
	Date: 	 	 	
            	 

    

     

    Attachments:
       Award
      Agreement, and 2005 Equity Incentive Plan

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    RACKABLE
      SYSTEMS, INC. 

    2005
      EQUITY INCENTIVE PLAN

    STOCK
      UNIT AWARD AGREEMENT

    

    Pursuant
      to the Stock Unit Grant Notice (“Grant
      Notice”)
      and
      this Stock Unit Award Agreement (“Agreement”),
      Rackable Systems, Inc. (the “Company”)
      has
      awarded you a Stock Unit Award pursuant to Section 7(c) of the Company’s 2005
      Equity Incentive Plan (the “Plan”)
      for
      the number of Stock Units as indicated in the Grant Notice (collectively, the
      “Award”).
      Defined terms not explicitly defined in this Agreement but defined in the Plan
      shall have the same definitions as in the Plan. Subject to adjustment and the
      terms and conditions as provided herein and in the Plan, each Stock Unit shall
      represent the right to receive one (1) share of Common Stock.

     

    The
      details of your Award, in addition to those set forth in the Grant Notice,
      are
      as follows.

     

    1.  NUMBER
      OF STOCK UNITS AND SHARES OF COMMON STOCK.
      The
      number of Stock Units in your Award is set forth in the Grant
      Notice.

     

    (a)  The
      number of Stock Units subject to your Award and the number of shares of Common
      Stock deliverable with respect to such Stock Units may be adjusted from time
      to
      time for Capitalization Adjustments as described in Section 11(a) of the Plan.
      You shall receive no benefit or adjustment to your Award with respect to any
      cash dividend or other distribution that does not result in a Capitalization
      Adjustment pursuant to Section 11(a) of the Plan; provided,
      however,
      that
      this sentence shall not apply with respect to any shares of Common Stock that
      are delivered to you in connection with your Award after such shares have been
      delivered to you.

     

    (b)  Any
      additional Stock Units, shares of Common Stock, cash or other property that
      becomes subject to the Award pursuant to this Section 1 shall be subject, in
      a
      manner determined by the Board, to the same forfeiture restrictions,
      restrictions on transferability, and time and manner of delivery as applicable
      to the other Stock Units and Common Stock covered by your Award.

     

    (c)  Notwithstanding
      the provisions of this Section 1, no fractional Stock Units or rights for
      fractional shares of Common Stock shall be created pursuant to this Section
      1.
      The Board shall, in its discretion, determine an equivalent benefit for any
      fractional Stock Units or fractional shares that might be created by the
      adjustments referred to in this Section 1.

     

    2.  VESTING.
      The
      Stock
      Units shall vest, if at all, as provided in the Vesting Schedule set forth
      in
      your Grant Notice and the Plan, provided that vesting shall cease upon the
      termination of your Continuous Service. 

     

    3.  DELIVERY
      OF SHARES OF COMMON STOCK.
      Subject
      to the provisions of this Agreement and the Plan, in the event one or more
      Stock
      Units vests, the Company shall deliver to you one (1) share of Common Stock
      for
      each Stock Unit that vests on the applicable vesting date. However, if a
      scheduled delivery date falls on a date that is not a business day, such
      delivery date shall instead fall on the next following business day.
      Notwithstanding the foregoing, in the event that you are subject to the
      Company’s Policy
      Regarding Stock Trading by Officers, Directors and Employees
      (or any
      successor policy) and any shares covered by your Award are scheduled to be
      delivered on a day (the “Original
      Delivery Date”)
      that
      does not occur during a “window period” applicable to you as determined by the
      Company in accordance with such policy, then such shares shall not be delivered
      on such Original Delivery Date and shall instead be delivered on the earlier
      to
      occur of the following: (i) the first day of the next “window period” applicable
      to you pursuant to such policy; or (ii) the day that is sixty (60) days after
      the Original Delivery Date. The form of such delivery (e.g.,
      a stock
      certificate or electronic entry evidencing such shares) shall be determined
      by
      the Company. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.  PAYMENT
      BY YOU.
      This
      Award was granted in consideration of your services for the Company. Subject
      to
      Section 10 below, except as otherwise provided in the Grant Notice, you will
      not
      be required to make any payment to the Company (other than your past and future
      services for the Company) with respect to your receipt of the Award, vesting
      of
      the Stock Units, or the delivery of the shares of Common Stock underlying the
      Stock Units. 

     

    5.  SECURITIES
      LAW COMPLIANCE.
      You may
      not be issued any Common Stock under your Award unless the shares of Common
      Stock are either (i) then registered under the Securities Act, or (ii) the
      Company has determined that such issuance would be exempt from the registration
      requirements of the Securities Act. Your Award must also comply with other
      applicable laws and regulations governing the Award, and you shall not receive
      such Common Stock if the Company determines that such receipt would not be
      in
      material compliance with such laws and regulations.

     

    6.  RESTRICTIVE
      LEGENDS.
      The
      Common Stock issued under your Award shall be endorsed with appropriate legends,
      if any, determined by the Company.

     

    7.  TRANSFER
      RESTRICTIONS.
      Prior to
      the time that shares of Common Stock have been delivered to you, you may not
      transfer, pledge, sell or otherwise dispose of the shares in respect of your
      Award. For example, you may not use shares that may be issued in respect of
      your
      Stock Units as security for a loan, nor may you transfer, pledge, sell or
      otherwise dispose of such shares. This restriction on transfer will lapse upon
      delivery to you of shares in respect of your vested Stock Units. Your Award
      is
      not transferable, except by will or by the laws of descent and distribution.
      Notwithstanding the foregoing, by delivering written notice to the Company,
      in a
      form satisfactory to the Company, you may designate a third party who, in the
      event of your death, shall thereafter be entitled to receive any distribution
      of
      Common Stock pursuant to this Agreement.

     

    8.  AWARD
      NOT A SERVICE CONTRACT.
      Your
      Award is not an employment or service contract, and nothing in your Award shall
      be deemed to create in any way whatsoever any obligation on your part to
      continue in the service of the Company or any Affiliate, or on the part of
      the
      Company or any Affiliate to continue such service. In addition, nothing in
      your
      Award shall obligate the Company or any Affiliate, their respective
      stockholders, boards of directors or employees to continue any relationship
      that
      you might have as an Employee or Consultant of the Company or any
      Affiliate.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    9.  UNSECURED
      OBLIGATIONS.
      Your
      Award is unfunded, and even as to any Stock Units which vest, you shall be
      considered an unsecured creditor of the Company with respect to the Company’s
      obligation, if any, to issue Common Stock pursuant to this Agreement. You shall
      not have voting or any other rights as a stockholder of the Company with respect
      to the Common Stock acquired pursuant to this Agreement until such Common Stock
      is issued to you pursuant to Section 3 of this Agreement. Upon such issuance,
      you will obtain full voting and other rights as a stockholder of the Company
      with respect to the Common Stock so issued. Nothing contained in this Agreement,
      and no action taken pursuant to its provisions, shall create or be construed
      to
      create a trust of any kind or a fiduciary relationship between you and the
      Company or any other person. 

     

    10.  WITHHOLDING
      OBLIGATIONS.

     

    (a)  On
      or
      before the time you receive a distribution of Common Stock pursuant to your
      Award, or at any time thereafter as requested by the Company, you hereby
      authorize any required withholding from the Common Stock issuable to you and
      otherwise agree to make adequate provision in cash for any sums required to
      satisfy the federal, state, local and foreign tax withholding obligations of
      the
      Company or any Affiliate which arise in connection with your Award (the
“Withholding
      Taxes”).
      If
      specified in your Grant Notice, you may direct the Company to withhold shares
      of
      Common Stock with a Fair Market Value (measured as of the vesting date) equal
      to
      the amount of such Withholding Taxes; provided,
      however,
      that
      the number of such shares of Common Stock so withheld shall not exceed the
      amount necessary to satisfy the Company’s required tax withholding obligations
      using the minimum statutory withholding rates for federal, state, local and
      foreign tax purposes, including payroll taxes, that are applicable to
      supplemental taxable income. 

     

    (b)  Unless
      the tax withholding obligations of the Company and/or any Affiliate are
      satisfied, the Company shall have no obligation to deliver to you any Common
      Stock. 

     

    (c)  In
      the
      event the Company’s obligation to withhold arises prior to the delivery to you
      of Common Stock or it is determined after the delivery of Common Stock to you
      that the amount of the Company’s withholding obligation was greater than the
      amount withheld by the Company, you agree to indemnify and hold the Company
      harmless from any failure by the Company to withhold the proper
      amount.

     

    11.  NOTICES.
      Any
      notices provided for in your Award or the Plan shall be given in writing to
      each
      of the other parties hereto and shall be deemed effectively given on the earlier
      of (i) the date of personal delivery, including delivery by express courier,
      or
      (ii) the date that is five (5) days after deposit in the United States Post
      Office (whether or not actually received by the addressee), by registered or
      certified mail with postage and fees prepaid, addressed at the following
      addresses, or at such other address(es) as a party may designate by ten (10)
      days’ advance written notice to each of the other parties hereto: 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	COMPANY:	
            	Rackable Systems, Inc.
	
            	 	Attn: General Counsel
	
            	 	46600 Landing Parkway
	
            	 	Fremont, California 94538
	 	 	 
	PARTICIPANT:	 	Your address as on file with the Company
              at the time notice is given

    

     

    12.  HEADINGS.
      The
      headings of the Sections in this Agreement are inserted for convenience only
      and
      shall not be deemed to constitute a part of this Agreement or to affect the
      meaning of this Agreement.

     

    13.  AMENDMENT.
      This
      Agreement may be amended only by a writing executed by the Company and you
      which
      specifically states that it is amending this Agreement. Notwithstanding the
      foregoing, this Agreement may be amended solely by the Company by a writing
      which specifically states that it is amending this Agreement, so long as a
      copy
      of such amendment is delivered to you, and provided that no such amendment
      adversely affecting your rights hereunder may be made without your written
      consent. Without limiting the foregoing, the Company reserves the right to
      change, by written notice to you, the provisions of this Agreement in any way
      it
      may deem necessary or advisable to carry out the purpose of the grant as a
      result of any change in applicable laws or regulations or any future law,
      regulation, ruling, or judicial decision, provided that any such change shall
      be
      applicable only to rights relating to that portion of the Award which is then
      subject to restrictions as provided herein.

     

    14.  MISCELLANEOUS.

     

    (a)  The
      rights and obligations of the Company under your Award shall be transferable
      by
      the Company to any one or more persons or entities, and all covenants and
      agreements hereunder shall inure to the benefit of, and be enforceable by the
      Company’s successors and assigns. 

     

    (b)  You
      agree
      upon request to execute any further documents or instruments necessary or
      desirable in the sole determination of the Company to carry out the purposes
      or
      intent of your Award.

     

    (c)  You
      acknowledge and agree that you have reviewed your Award in its entirety, have
      had an opportunity to obtain the advice of counsel prior to executing and
      accepting your Award and fully understand all provisions of your
      Award.

     

    (d)  This
      Agreement shall be subject to all applicable laws, rules, and regulations,
      and
      to such approvals by any governmental agencies or national securities exchanges
      as may be required.

     

    (e)  All
      obligations of the Company under the Plan and this Agreement shall be binding
      on
      any successor to the Company, whether the existence of such successor is the
      result of a direct or indirect purchase, merger, consolidation, or otherwise,
      of
      all or substantially all of the business and/or assets of the
      Company.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    15.  GOVERNING
      PLAN DOCUMENT.
      Your
      Award is subject to all the provisions of the Plan, the provisions of which
      are
      hereby made a part of your Award, and is further subject to all interpretations,
      amendments, rules and regulations which may from time to time be promulgated
      and
      adopted pursuant to the Plan. In the event of any conflict between the
      provisions of your Award and those of the Plan, the provisions of the Plan
      shall
      control; provided,
      however,
      that
      Section 3 of this Agreement shall govern the timing of any distribution of
      Common Stock under your Award. The Company shall have the power to interpret
      the
      Plan and this Agreement and to adopt such rules for the administration,
      interpretation, and application of the Plan as are consistent therewith and
      to
      interpret or revoke any such rules. All actions taken and all interpretations
      and determinations made by the Board shall be final and binding upon you, the
      Company, and all other interested persons. No member of the Board shall be
      personally liable for any action, determination, or interpretation made in
      good
      faith with respect to the Plan or this Agreement.

     

    16.  EFFECT
      ON OTHER EMPLOYEE BENEFIT PLANS.
      The
      value of the Award subject to this Agreement shall not be included as
      compensation, earnings, salaries, or other similar terms used when calculating
      benefits under any employee benefit plan (other than the Plan) sponsored by
      the
      Company or any Affiliate except as such plan otherwise expressly provides.
      The
      Company expressly reserves its rights to amend, modify, or terminate any or
      all
      of the employee benefit plans of the Company or any Affiliate.

     

    17.  CHOICE
      OF LAW.
      The
      interpretation, performance and enforcement of this Agreement shall be governed
      by the law of the state of California without
      regard to such state’s conflicts of laws rules.

     

    18.  SEVERABILITY.
      If all
      or any part of this Agreement or the Plan is declared by any court or
      governmental authority to be unlawful or invalid, such unlawfulness or
      invalidity shall not invalidate any portion of this Agreement or the Plan not
      declared to be unlawful or invalid. Any Section of this Agreement (or part
      of
      such a Section) so declared to be unlawful or invalid shall, if possible, be
      construed in a manner which will give effect to the terms of such Section or
      part of a Section to the fullest extent possible while remaining lawful and
      valid.

     

    19.  OTHER
      DOCUMENTS.
      You
      hereby acknowledge receipt or the right to receive a document providing the
      information required by Rule 428(b)(1) promulgated under the Securities Act.
      In
      addition, you acknowledge receipt of the Company’s Policy
      Regarding Stock Trading by Officers, Directors and Employees.

     

    *
      * * *
      *

     

    This
      Stock Unit Award Agreement shall be deemed to be signed by the Company and
      the
      Participant upon the signing by the Participant of the Stock Unit Grant Notice
      to which it is attached.

     

    RACKABLE
      SYSTEMS, INC. 

    2005
      EQUITY INCENTIVE PLAN

     

    
      
        
        

      

      
        6

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