Document:

SUBSCRIPTION
      AGREEMENT

    

    SUBSCRIPTION
      AGREEMENT (this “Agreement”) made as of this __ day of April, 2008 for the
      benefit of Lambert’s Cove Acquisition Corporation, a Delaware corporation (the
“Company”), having its principal place of business at 817 West Peachtree, Suite
      550, Atlanta, Georgia 30308 by Lambert’s Cove Holdings, LLC (the “Initial
      Subscriber”), and the subscribers identified on the signature page hereto the
“Additional Subscribers”, together with the Initial Subscriber, the
“Subscribers”).

    

    WHEREAS,
      the Company and the Initial Subscriber entered into a Subscription Agreement
      (the “Original Subscription Agreement”) on March 11, 2008, pursuant to which the
      Initial Subscriber agreed to purchase warrants of the Company.

    

    WHEREAS,
      the parties intend this Agreement to modify, amend and supercede the Original
      Subscription Agreement; 

    

    WHEREAS,
      the Company desires to sell on a private placement basis (the “Offering”) an
      aggregate of 3,050,000 warrants (the “Warrants”) of the Company for a purchase
      price of $1.00 per Warrant. Each Warrant is exercisable to purchase one share
      of
      the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at
      an exercise price of $7.50 per share during the period commencing on the later
      of: (i) the date that is 12 months from the date of the final prospectus
      relating to the Company’s IPO (as defined below) and (ii) the date on which the
      Company completes its Business Combination (as defined in Section 5 below),
      and
      ending on the earlier of: (i) the date that is five years from the date of
      the
      Company’s final prospectus for the Company’s IPO and (ii) the Business Day (as
      defined below) preceding the date on which such Warrants are redeemed or
      otherwise expire. For purposes of this Agreement, “Business Day” means any day
      on which the American Stock Exchange is open for trading and which is not a
      Saturday, a Sunday or any other day on which banks in the City of New York,
      New
      York, are authorized or required by law to close; and

    

    WHEREAS,
      the Subscribers wishe to purchase the Warrants and the Company wishes to accept
      such subscription. 

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants hereinafter
      set forth and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, the Company and the Subscribers hereby agree
      as follows

    

    1.
 
      Agreement
      to Subscribe

    

    1.1. Purchase
      and Issuance of the Warrants.
      Upon
      the terms and subject to the conditions of this Agreement, the Subscribers
      hereby agree to purchase from the Company, and the Company hereby agrees to
      sell
      to the Subscribers, on the Closing Date, the Warrants for an aggregate purchase
      price of $3,050,000 (the “Purchase Price”) in the amounts corresponding with the
      subscription amount (“Subscription Amount”) set forth opposite each Subscriber’s
      name on Schedule I hereto.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    1.2. Delivery
      of the Purchase Price.
      Upon
      execution of this Agreement, the undersigned are hereby bound to fulfill their
      obligations hereunder and hereby irrevocably commit to deliver into a trust
      account (the “Trust Account”) at a financial institution to be chosen by the
      Company, maintained by American Stock Transfer & Trust Company, acting as
      trustee, on the Closing Date (as defined below), the Subscription Amount in
      immediately available funds by certified bank check, wire transfer or such
      other
      form of payment as shall be acceptable to the Trustee, in its sole and absolute
      discretion, at the Closing.

    

    1.3. Closing.
      The
      closing (the “Closing”) of the Offering, shall take place at the offices of the
      Company, immediately prior to the effective date of the registration statement
      pursuant to which the Company proposes to register its initial public offering
      (the “IPO”) of 10,000,000 units of Common Stock and Warrants (the “Closing
      Date”).

    2.
 
      Representations
      and Warranties of the Subscribers

    

    Each
      Subscriber represents and warrants, severally and not jointly, to the Company
      that:

    

    2.1. No
      Government Recommendation or Approval.
      Subscriber understands that no United States federal or state agency has passed
      upon or made any recommendation or endorsement of the Company or the Offering
      of
      the Warrants or the Common Stock underlying the Warrants (the “Warrant Shares”
and, collectively with the Warrants, the “Securities”).

    

    2.2. Regulation
      D Offering.
      Each
      Subscriber represents that it is an “accredited investor” as such term is
      defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as
      amended (the “Securities Act”) and acknowledges the sale contemplated hereby is
      being made in reliance on a private placement exemption to “accredited
      investors” within the meaning of Section 501(a) of Regulation D under the
      Securities Act or similar exemptions under state law and, accordingly, the
      Securities will be “restricted securities” within the meaning of Rule 144(a)(3)
      under the Securities Act, and therefore may not be offered, pledged or sold
      by
      him, directly or indirectly, in the United States without registration under
      United States federal and state securities laws and each Subscriber understands
      the certificates representing such securities will contain a legend in respect
      of such restrictions. 

    

    2.3. Intent.
      Each
      Subscriber is purchasing the Warrants solely for investment purposes, for each
      Subscriber’s own account and not for the account or benefit of any U.S. Person,
      and not with a view towards the distribution thereof and each Subscriber has
      no
      present arrangement to sell the Securities to or through any person or entity.
      Each Subscriber shall not engage in hedging transactions with regard to the
      Warrants and the underlying securities unless in compliance with the Securities
      Act.

    

    
      
        
        

      

      
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    2.4. Restrictions
      on Transfer.
      Each
      Subscriber acknowledges and understands the Warrants are being offered in a
      transaction not involving a public offering in the United States within the
      meaning of the Securities Act. The Securities have not been registered under
      the
      Securities Act, and, if in the future the Subscriber decides to offer, resell,
      pledge or otherwise transfer the Securities, such Securities may be offered,
      resold, pledged or otherwise transferred only (i) pursuant to an effective
      registration statement filed under the Securities Act, (ii) pursuant to an
      exemption from registration under Rule 144 promulgated under the Securities
      Act,
      if available, or (iii) pursuant to any other available exemption from the
      registration requirements of the Securities Act, and in each case in accordance
      with any applicable securities laws of any state or any other jurisdiction.
      Each
      Subscriber agrees that if any transfer of its Securities or any interest therein
      is proposed to be made, as a condition precedent to any such transfer, such
      Subscriber may be required to deliver to the Company an opinion of counsel
      satisfactory to the Company. Absent registration or another available exemption
      from registration, each Subscriber agrees it will not resell the Securities.
      Each Subscriber explicitly understands and acknowledges the Securities and
      Exchange Commission (the “SEC”) has taken the position the Subscriber would be
      considered a promoter under the Securities Act and that promoters or affiliates
      of a blank check company and their transferees, both before and after a business
      combination, would act as “underwriters” under the Securities Act when reselling
      the securities of that blank check company. Accordingly, Rule 144 promulgated
      under the Securities Act will not be available to any Subscriber for the resale
      of the Securities despite technical compliance with the requirements of Rule
      144, in which event the resale transactions would need to be made through a
      registered offering. 

    

    2.5. Sophisticated
      Investor.

    

    (i)
         Each Subscriber is sophisticated in financial matters and is able
      to evaluate the risks and benefits of the investment in the
      Securities.

    

    (ii)
         Each Subscriber is aware that an investment in the Warrants is
      highly speculative and subject to substantial risks because, among other things,
      none of the Securities have been registered under the Securities Act and
      therefore cannot be sold unless subsequently registered under the Securities
      Act
      or an exemption from such registration is available. Each Subscriber is able
      to
      bear the economic risk of its investment in the Securities for an indefinite
      period of time. 

    

    2.6.
        Independent
      Investigation.
      Each
      Subscriber, in making the decision to purchase the Warrants, has relied upon
      an
      independent investigation of the Company and has not relied upon any information
      or representations made by any third parties or upon any oral or written
      representations or assurances from the Company, its officers, directors or
      employees or any other representatives or agents of the Company, other than
      as
      set forth in this Agreement. Each Subscriber is familiar with the business,
      operations and financial condition of the Company and has had an opportunity
      to
      ask questions of, and receive answers from, the Company’s officers and directors
      concerning the Company and the terms and conditions of the offering of the
      Warrants and has had full access to such other information concerning the
      Company as the Subscriber has requested. Each Subscriber confirms that all
      documents that it has requested have been made available and that such
      Subscriber has been supplied with all of the additional information concerning
      this investment which Subscriber has requested.

     

    
      
        
          
          

        

        
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    2.7. Authority.
      This
      Agreement has been validly authorized, executed and delivered by each Subscriber
      and is a valid and binding agreement enforceable in accordance with its terms,
      subject to the general principles of equity and to bankruptcy or other laws
      affecting the enforcement of creditors’ rights generally. The execution,
      delivery and performance of this Agreement by each Subscriber does not and
      will
      not conflict with, violate or cause a breach of any agreement, contract or
      instrument to which Subscriber is a party.

    

    2.8. No
      Legal Advice from Company.
      Each
      Subscriber acknowledges it has had the opportunity to review this Agreement
      and
      the transactions contemplated by this Agreement and the other agreements entered
      into between the parties hereto with the Subscriber’s own legal counsel and
      investment and tax advisors. Except for any statements or representations of
      the
      Company made in this Agreement and the other agreements entered into between
      the
      parties hereto, each Subscriber is relying solely on such counsel and advisors
      and not on any statements or representations of the Company or any of its
      representatives or agents for legal, tax or investment advice with respect
      to
      this investment, the transactions contemplated by this Agreement or the
      securities laws of any jurisdiction.

     

    2.9.
        Reliance
      on Representations and Warranties.
      Each
      Subscriber understands the Warrants are being offered and sold to such
      Subscriber in reliance on exemptions from the registration requirements under
      the Securities Act, and analogous provisions in the laws and regulations of
      various states, and that the Company is relying upon the truth and accuracy
      of
      the representations, warranties, agreements, acknowledgments and understandings
      of the Subscriber set forth in this Agreement in order to determine the
      applicability of such provisions.  

    

    2.10. No
      General Solicitation or Advertising.
      None of
      the Subscribers entered into this Agreement as a result of any general
      solicitation or general advertising within the meaning of Rule 502 under the
      Securities Act.

    

    2.11. Legend.
      Each
      Subscriber acknowledges and agrees the certificates evidencing the Warrants
      and
      the Warrant Shares shall bear a restrictive legends (the “Legends”), in form and
      substance as set forth in Section 4 hereof, prohibiting the offer, sale, pledge
      or transfer of the securities, except (i) pursuant to an effective registration
      statement covering these securities under the Securities Act or (ii) pursuant
      to
      any other exemptions from the registration requirements under the Securities
      Act
      and such laws which, in the opinion of counsel for this Company, is
      available.

     

    3.
 
       Representations
      and Warranties of the Company

    

    The
      Company represents and warrants to Subscriber that:

    

    3.1.
         Valid
      Issuance of Capital Stock.
      The
      total number of shares of all classes of capital stock which the Company will
      have authority to issue is 75,000,000 shares of Common Stock and 1,000,000
      shares of Preferred Stock. As of the date hereof, the Company has 2,875,000
      shares of Common Stock and no shares of Preferred Stock issued and outstanding.
      All of the issued shares of capital stock of the Company have been duly
      authorized, validly issued, and are fully paid and non-assessable.

      
        
          
          

        

        
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    3.2.    
      Organization
      and Qualification.
      The
      Company is a corporation duly incorporated and existing in good standing under
      the laws of the state of Delaware and has the requisite corporate power to
      own
      its properties and assets and to carry on its business as now being
      conducted.

    

    3.3.
         Authorization;
      Enforcement.
      (i) The
      Company has the requisite corporate power and authority to enter into and
      perform its obligations under this Agreement and to issue the Warrants and
      the
      underlying securities in accordance with the terms hereof, (ii) the execution,
      delivery and performance of this Agreement by the Company and the consummation
      by it of the transactions contemplated hereby have been duly authorized by
      all
      necessary corporate action, and no further consent or authorization of the
      Company or its Board of Directors or stockholders is required, and (iii) this
      Agreement constitutes valid and binding obligations of the Company enforceable
      against the Company in accordance with its terms, except as such enforceability
      may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
      moratorium, reorganization, or similar laws relating to, or affecting generally
      the enforcement of, creditors’ rights and remedies or by equitable principles of
      general application and except as enforcement of rights to indemnity and
      contribution may be limited by federal and state securities laws or principles
      of public policy.

      

    3.4.    
      No
      Conflicts.
      The
      execution, delivery and performance of this Agreement and the consummation
      by
      the Company of the transactions contemplated hereby do not (i) result in a
      violation of the Company’s Certificate of Incorporation or Bylaws or (ii)
      conflict with, or constitute a default under any agreement, indenture or
      instrument to which the Company is a party. Other than any SEC or state
      securities filings which may be required to be made by the Company subsequent
      to
      the Closing, and any registration statement which may be filed pursuant thereto,
      the Company is not required under federal, state or local law, rule or
      regulation to obtain any consent, authorization or order of, or make any filing
      or registration with, any court or governmental agency or self-regulatory entity
      in order for it to perform any of its obligations under this Agreement or issue
      the Common Stock in accordance with the terms hereof.

    

    
      	 	
              4.

            	
              Appointment
                of Initial Subscriber as
                Representative

            

    

    

    The
      Additional Subscribers hereby appoint the Initial Subscriber to act as the
      Representative of the Subscribers, as the attorney-in-fact for and on behalf
      of
      each such Additional Subscriber, and the taking by the Representative of any
      and
      all actions and the making of any decisions required or permitted to be taken
      by
      it under this Agreement including the exercise of power to agree to, negotiate
      and enter into an amendment to the terms of the Warrants and this Agreement;
      provided, however, that the Representative shall only agree to, negotiate or
      enter into an amendment to the terms of the Warrants or this Agreement, if
      the
      terms of the Additional Subscribers’ Warrants are substantially similar to the
      Initial Subscriber’s Warrants. 

      
        
          
          

        

        
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    5.       
      Legends

    

    5.1.
         Legend.
      The
      Company will issue the Warrants, and when issued, the Warrant Shares, purchased
      by the Subscribers in the names of the Subscribers. The Warrants will bear
      the
      following Legend and appropriate “stop transfer” instructions:

    

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE (INCLUDING THE SHARES OF COMMON
      STOCK
      OF THE COMPANY ISSUABLE UPON EXERCISE OF SUCH SECURITIES) HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
      LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE
      STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN
      ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
      TRANSFER RESTRICTIONS SET FORTH IN A WARRANT AGREEMENT AND UNDER AN ESCROW
      AGREEMENT.

    SECURITIES
      EVIDENCED BY THIS CERTIFICATE AND SHARES OF COMMON STOCK OF THE COMPANY ISSUABLE
      UPON EXERCISE OF SUCH SECURITIES WILL BE ENTITLED TO REGISTRATION RIGHTS UNDER
      A
      REGISTRATION RIGHTS AGREEMENT.

    

    The
      Warrant Shares shall bear the following Legend and appropriate “stop transfer”
instructions

    

    “THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND
      NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
      FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
      OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

    

    SECURITIES
      EVIDENCED BY THIS CERTIFICATE WILL BE ENTITLED TO REGISTRATION RIGHTS UNDER
      A
      REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

    

    “THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND
      CONDITIONS CONTAINED IN A SECURITIES ESCROW AGREEMENT (THE “AGREEMENT”) AND MAY
      NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE
      TERM
      OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT).”

    
      
        
        

      

      
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    5.2.
         Subscribers’
      Compliance.
      Nothing
      in this Section 5 shall affect in any way the Subscribers’ obligations and
      agreements to comply with all applicable securities laws upon resale of the
      Securities.

    

    5.3.
        Company’s
      Refusal to Register Transfer of the Securities.
      The
      Company shall refuse to register any transfer of the Securities, if in the
      sole
      judgment of the Company such purported transfer would not be made (i) pursuant
      to an effective registration statement filed under the Securities Act, or (ii)
      pursuant to an available exemption from the registration requirements of the
      Securities Act.

    

    6.       
      Escrow.
      

    

    On
      the
      date of the final prospectus relating to the IPO, the holders of the Warrants
      shall enter into a securities escrow agreement (the “Escrow Agreement”) with
      American Stock Transfer & Trust Company, whereby the Warrants shall be held
      in escrow until 30 days following the consummation by the Company of a Business
      Combination or earlier upon the consummation of a transaction after the
      Company’s Business Combination that results in all of the Company’s stockholders
      at the time of the transaction having the right to exchange their shares of
      Common Stock for cash, securities or other property.

    

    
      	 	
              7.

            	
              Securities
                Laws Restrictions.

            

    

     

    In
      addition to the restrictions contained in the Escrow Agreement and the warrant
      agreement to be entered into between American Stock Transfer & Trust Company
      and the Company upon the consummation of the IPO, each Subscriber agrees not
      to
      sell, transfer, pledge, hypothecate or otherwise dispose of all or any part
      of
      the Securities unless, prior thereto (i) a registration statement on the
      appropriate form under the Securities Act and applicable state securities laws
      with respect to the Securities proposed to be transferred shall then be
      effective or (ii) the Company shall have received an opinion from counsel
      reasonably satisfactory to the Company, that such registration is not required
      because such transaction complies with the Securities Act and the rules
      promulgated by the Securities and Exchange Commission thereunder and with all
      applicable state securities laws. 

    

    8.        
      Waiver
      of Liquidation Distributions.

    

    In
      connection with the Securities purchased pursuant to this Agreement, and with
      respect to any Common Stock purchased by the Subscribers prior to the private
      placement, each Subscriber hereby waives any and all right, title, interest
      or
      claim of any kind in or to any liquidating distributions by the Company in
      the
      event of a liquidation of the Company upon the Company’s failure to timely
      complete a Business Combination. For purposes of clarity, in the event
      Subscriber purchases shares of Common Stock in the IPO or in the aftermarket,
      any additional shares so purchased shall be eligible to receive any liquidating
      distributions by the Company. In no event will a Subscriber have the right
      to
      exercise any Warrants prior to the later of: (i) the date that is 12 months
      from
      the date of the final prospectus relating to the Company’s IPO and (ii) the date
      on which the Company completes its Business Combination.

      
        
          
          

        

        
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    9.
      Forfeiture
      of Warrants.

     

    9.1. Failure
      to Consummate Business Combination.
      The
      Warrants shall be forfeited to the Company in the event that the Company does
      not consummate a Business Combination within 24 months from the date of the
      final prospectus relating to the Company’s IPO (or 36 months in the event the
      Company has entered into a definitive agreement with respect to a business
      consummation and the stockholders have approved an extension for the purpose
      of
      consummating a Business Combination).

    

    9.2. Termination
      of Rights as Holder; Escrow.
      If the
      Warrants are forfeited in accordance with this Section 8, then after such time
      the Subscribers (or successor in interest), shall no longer have any rights
      as a
      holder of such Warrants, and the Company shall take such action as is
      appropriate to cancel such Warrants. To effectuate the foregoing, all
      certificates representing the Warrants shall be held in escrow as provided
      in
      Section 5 hereof. In addition, Subscriber hereby irrevocably grants the Company
      a limited power of attorney for the purpose of effectuating the
      foregoing.

    

    10. Rescission
      Right Waiver and Indemnification.
      

     

    10.1.
       Each
      Subscriber understands and acknowledges an exemption from the registration
      requirements of the Securities Act requires there be no general solicitation
      of
      purchasers of the Warrants. In this regard, if the IPO were deemed to be a
      general solicitation with respect to the Warrants, the offer and sale of such
      Warrants may not be exempt from registration and, if not, the Subscribers may
      have a right to rescind its purchase of the Warrants. In order to facilitate
      the
      completion of the Offering and in order to protect the Company, its stockholders
      and the trust account from claims that may adversely affect the Company or
      the
      interests of its stockholders, each Subscriber hereby agrees to waive, to the
      maximum extent permitted by applicable law, any claims, right to sue or rights
      in law or arbitration, as the case may be, to seek rescission of its purchase
      of
      the Warrants. Each Subscriber acknowledges and agrees this waiver is being
      made
      in order to induce the Company to sell the Warrants to the Subscribers. Each
      Subscriber agrees the foregoing waiver of rescission rights shall apply to
      any
      and all known or unknown actions, causes of action, suits, claims or proceedings
      (collectively, “Claims”) and related losses, costs, penalties, fees, liabilities
      and damages, whether compensatory, consequential or exemplary, and expenses
      in
      connection therewith, including reasonable attorneys’ and expert witness fees
      and disbursements and all other expenses reasonably incurred in investigating,
      preparing or defending against any Claims, whether pending or threatened, in
      connection with any present or future actual or asserted right to rescind the
      purchase of the Warrants hereunder or relating to the purchase of the Warrants
      and the transactions contemplated hereby. 

     

    10.2. Each
      Subscriber agrees not to seek recourse against the Trust Account for any reason
      whatsoever in connection with its purchase of the Warrants or any Claim that
      may
      arise now or in the future. 

      
        
          
          

        

        
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    10.3. Each
      Subscriber acknowledges and agrees the stockholders of the Company, UBS
      Securities LLC and Morgan Joseph & Co., Inc. are and shall be third-party
      beneficiaries of the foregoing provisions of this Agreement. 

     

    10.4.
       Each
      Subscriber agrees that to the extent any waiver of rights under this Section
      9
      is ineffective as a matter of law, such Subscriber has offered such waiver
      for
      the benefit of the Company as an equitable right that shall survive any
      statutory disqualification or bar that applies to a legal right. Each Subscriber
      acknowledges the receipt and sufficiency of consideration received from the
      Company hereunder in this regard.

    

    11. Terms
      of the Warrant

    

    The
      Warrants are substantially identical to the warrants included in the units
      offered in the IPO, except: (i) they
      (and
      the Warrant Shares) will be placed in escrow and not released before, except
      in
      limited circumstances, until after the consummation of a Business Combination,
      as more fully described in Section 5, (ii) they are being purchased in a
      private placement pursuant to an exemption from the registration requirements
      of
      the Securities Act and will become freely tradable only after they are
      registered pursuant to a registration rights agreement to be entered on or
      before the date of the final prospectus relating to the Company’s IPO,
      (iii) they will be non-redeemable so long as they are held by
      the
      initial holder thereof (or any of its permitted transferees),
      and
      (iv) they are exercisable (a) on a “cashless” basis if
      held
      by the initial holder thereof or its permitted assigns
      at any
      time after the consummation of the Business Combination and (b) in the absence
      of an effective registration statement covering the Warrant Shares. In
      no
      event will the Company be required to net cash settle the Warrant
      exercise.

    

    12.
         Governing
      Law and Jurisdiction;
      Waiver
      of Jury Trial

    

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware for agreements made and to be wholly performed within such
      state. The parties hereto hereby waive any right to a jury trial in connection
      with any litigation pursuant to this Agreement and the transactions contemplated
      hereby.

    

    13. Assignment;
      Entire Agreement; Amendment

    

    13.1. Assignment.
      Neither
      this Agreement nor any rights hereunder may be assigned by any party to any
      other person other than by Subscriber to a person agreeing to be bound by the
      terms hereof.

    

    13.2. Entire
      Agreement.
      This
      Subscription Agreement sets forth the entire agreement and understanding between
      the parties as to the subject matter thereof and merges and supersedes all
      prior
      discussions, agreements and understandings of any and every nature among
      them.

     

    13.3. Amendment.
      Except
      as expressly provided in this Agreement, neither this Agreement nor any term
      hereof may be amended, waived, discharged or terminated other than by a written
      instrument signed by the party against whom enforcement of any such amendment,
      waiver, discharge or termination is sought.

      
        
          
          

        

        
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    13.4.
        Binding
      upon Successors.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and to their respective heirs, legal representatives, successors and permitted
      assigns.

    

    14.
        Notices;
      Indemnity

    

    14.1
        Notices.
      Unless
      otherwise provided herein, any notice or other communication to a party
      hereunder shall be sufficiently given if in writing and personally delivered
      or
      sent by facsimile or other electronic transmission with copy sent in another
      manner herein provided or sent by courier (which for all purposes of this
      Agreement shall include Federal Express or other recognized overnight courier)
      or mailed to said party by certified mail, return receipt requested, at its
      address provided for herein or such other address as either may designate for
      itself in such notice to the other. Communications shall be deemed to have
      been
      received when delivered personally, on the scheduled arrival date when sent
      by
      next day or 2-day courier service, or if sent by facsimile upon receipt of
      confirmation of transmittal or, if sent by mail, then three days after deposit
      in the mail. If given by electronic transmission, such notice shall be deemed
      to
      be delivered (a) if by electronic mail, when directed to an electronic mail
      address at which the stockholder has consented to receive notice; (b) if by
      a
      posting on an electronic network together with separate notice to the
      stockholder of such specific posting, upon the later of (1) such posting and
      (2)
      the giving of such separate notice; and (c) if by any other form of electronic
      transmission, when directed to the stockholder.

    

    14.2
        Indemnification.
      Each
      party shall indemnify the other against any loss, cost or damages (including
      reasonable attorney’s fees and expenses) incurred as a result of such party’s
      breach of any representation, warranty, covenant or agreement in this
      Agreement.

    

    15.
        Counterparts

    

    This
      Agreement may be executed in one or more counterparts, all of which when taken
      together shall be considered one and the same agreement and shall become
      effective when counterparts have been signed by each party and delivered to
      the
      other party, it being understood that both parties need not sign the same
      counterpart.  In the event that any signature is delivered by facsimile
      transmission or by e-mail delivery of a “.pdf” format data file, such signature
      shall create a valid and binding obligation of the party executing (or on whose
      behalf such signature is executed) with the same force and effect as if such
      facsimile or “.pdf” signature page were an original thereof.

    

    16.
        Survival;
      Severability

    

    16.1. Survival.
      The
      representations, warranties, covenants and agreements of the parties hereto
      shall survive the Closing.

    

    16.2. Severability.
      In the
      event that any provision of this Agreement becomes or is declared by a court
      of
      competent jurisdiction to be illegal, unenforceable or void, this Agreement
      shall continue in full force and effect without said provision; provided that
      no
      such severability shall be effective if it materially changes the economic
      benefit of this Agreement to any party.

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

    

    

    17. Headings.

    

    The
      titles and subtitles used in this Agreement are used for convenience only and
      are not to be considered in construing or interpreting this
      Agreement.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    This
      subscription is accepted by the Company on the date first written
      above.

    

    
      	 	 	 
	 	LAMBERT’S
              COVE
              ACQUISITION CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Jeffrey C. Levy
	 	Title:
              Chief Executive Officer

    

    
      
        
        

      

      
        S-1

        
          

        

      

      
        
        

      

    

    Signature
      Page for Individuals:

    

    

    Subscriber
      has caused this Subscription Agreement to be executed as of the date first
      written above.

    

    

    

    

    
      	
               

              $________________________________________________

            	 	
               

              ___________________________________

            
	
              Purchase
                Price ($1.00 per Warrant)

            	 	
                                
                Number of Warrants

            
	
              _________________________________________________

            	 	 
	
              Print
                or Type Name

            	 	 
	
              _________________________________________________

            	 	 
	
              Signature

            	 	 

    

    

    
      
        
        

      

      
        S-2

        
          

        

      

      
        
        

      

    

    Signature
      page for Partnerships, Corporations or Other Entities:

    

    

    IN
      WITNESS WHEREOF, Subscriber has caused this Subscription Agreement to be
      executed as of the date indicated above.

    

    

    $
      _____________________________   _____________________________

    Total
      Purchase Price ($1.00 per Warrant)   
Number
      of
      Warrants

    

    

    ____________________________________

    Print
      or
      Type Name of Entity

    

    

    ______________________________________________________________________________

    Address

    

    

    

    By:
      ____________________________________ ____________________________________

    Signature:
      Name:                                                                    
Print
      or
      Type Name and Indicate

                      
      Title:                                                                         
      Title
      or
      Position with Entity  

    

    
      
        
        

      

      
        S-3Unassociated Document

    LAMBERT’S
      COVE ACQUISITION CORPORATION

    

    CODE
      OF BUSINESS
      CONDUCT AND ETHICS

    

    OVERVIEW

    

    This
      Code
      of Conduct and Ethics sets forth the guiding principles by which we operate
      our
      company and conduct our daily business with our stockholders, customers, vendors
      and with each other. These principles apply to all of the directors, officers
      and employees of Lambert’s Cove Acquisition Corporation (referred to in this
      Code as the “Company”).

    

    PRINCIPLES

    

    Complying
      with Laws, Regulations, Policies and Procedures

    

    All
      directors, officers and employees of the Company are expected to understand,
      respect and comply with all of the laws, regulations, policies and procedures
      that apply to them in their positions with the Company. Employees are
      responsible for talking to their supervisors to determine which laws,
      regulations and Company policies apply to their position and what training
      is
      necessary to understand and comply with them.

    

    Directors,
      officers and employees are directed to specific policies and procedures
      available to persons they supervise.

    

    Conflicts
      of Interest

    

    All
      directors, officers and employees of the Company should be scrupulous in
      avoiding any action or interest that conflicts with, or gives the appearance
      of
      a conflict with, the Company’s interests. A “conflict of interest” exists
      whenever an individual’s private or business interests interfere or conflict in
      any way (or even appear to interfere or conflict) with the interests of the
      Company. A conflict situation can arise when an employee, officer or director
      takes actions or has interests that may make it difficult to perform his or
      her
      work for the Company objectively and effectively. Conflicts of interest may
      also
      arise when a director, officer or employee or a member of his or her family
      receives improper personal benefits as a result of his or her position with
      the
      Company, whether from a third party or from the Company. Any use of the
      Company’s products and services by Company employees should generally be done on
      an arm’s length basis and in compliance with applicable law.

    

    All
      directors, officers and employees of the Company are obligated to disclose
      potential and actual conflicts of interest as and when they arise. Subject
      to
      any pre-existing fiduciary duty which exists prior to the time of becoming
      a
      director, officer or employee of the Company, all directors, officers and
      employees of the Company are prohibited from participating in any transaction
      that is or may pose a conflict of interest with the Company without the prior
      written consent of the Company.

    

    If
      a
      conflict of interest shall arise, our directors, officers and employees shall
      act in a manner expected to advance and protect the Company’s interests, subject
      to any pre-existing fiduciary duties or contractual obligations. Conflicts
      of
      interest may not always be clear-cut, so if a question arises, an officer or
      employee should consult with higher levels of management, the board of directors
      or company counsel. Any employee, officer or director who becomes aware of
      a
      conflict or potential conflict should bring it to the attention of a supervisor,
      manager or other appropriate personnel.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    None
      of
      the Company's officers, directors, employees or affiliates shall accept any
      finder’s fee, consulting fee or any other compensation from any person or entity
      (including a target company) in connection with any business combination
      involving the Company other than any compensation or fees that may be received
      for any services provided following such business combination.

    

    Corporate
      Opportunity

    

    Directors,
      officers and employees are prohibited from (a) taking for themselves
      personally opportunities that properly belong to the Company or are discovered
      through the use of corporate property, information or position; (b) using
      corporate property, information or position for personal gain; and
      (c) subject to pre-existing fiduciary obligations, competing with the
      Company; provided, however, such prohibition will not extend to potential
      corporate opportunities reviewed by, and rejected as unsuitable for the Company
      by, the independent members of the Board. Directors, officers and employees
      owe
      a duty to the Company to advance its legitimate interests when the opportunity
      to do so arises.

    

    Confidentiality

    

    Directors,
      officers and employees must maintain the confidentiality of confidential
      information entrusted to them by the Company or its suppliers, counterparties
      or
      customers, except when disclosure is specifically authorized by the board of
      directors or required by laws, regulations or legal proceedings. Confidential
      information includes all non-public information that might be material to
      investors or of use to competitors of the Company or harmful to the Company
      or
      its counterparties, customers or employees if disclosed.

    

    Fair
      Dealing

    

    We
      seek
      to outperform our competition fairly and honestly. We seek competitive
      advantages through superior performance, never through unethical or illegal
      business practices. Stealing proprietary information, possessing or utilizing
      trade secret information that was obtained without the owner’s consent or
      inducing such disclosures by past or present employees of other companies is
      prohibited.

    

    Each
      director, officer and employee is expected to deal fairly with the Company’s
      customers, suppliers, competitors, officers and employees. No one should take
      unfair advantage of anyone through manipulation, concealment, abuse of
      privileged information, misrepresentation of material facts or any other unfair
      dealing.

    

    Protection
      and Proper Use of the Company Assets

    

    All
      directors, officers and employees should protect the Company’s assets and ensure
      their efficient use. All Company assets should be used only for legitimate
      business purposes.

    

    Public
      Company Reporting

    

    As
      a
      public company, it is of critical importance that the Company’s filings with the
      Securities and Exchange Commission be accurate and timely and not contain any
      known material misrepresentation or omission. Depending on their position with
      the Company, an employee, officer or director may be called upon to provide
      necessary information to assure that the Company’s public reports are complete,
      fair and understandable. The Company expects employees, officers and directors
      to take this responsibility very seriously and to provide prompt accurate
      answers to inquiries related to the Company’s public disclosure
      requirements.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Inside
      Information and Securities Trading 

    

    The
      Company’s directors, officers or employees who have access to material,
      non-public information are not permitted to use that information for stock
      trading purposes or for any purpose unrelated to the Company's business. It
      is
      also against the law to trade or to "tip" others who might make an investment
      decision based on inside company information. For example, using non-public
      information to buy or sell the Company stock, options in the Company stock
      or
      the stock of any Company supplier, customer or competitor is prohibited. The
      consequences of insider trading violations can be severe. These rules also
      apply
      to the use of material, nonpublic information about other companies (including,
      for example, our customers, competitors and potential business partners). In
      addition to employees, these rules apply to an employee's spouse, children,
      parents and siblings, as well as any other family members living in the
      employee's home.

    

    Financial
      Statements and Other Records

    

    All
      of
      the Company’s books, records, accounts and financial statements must be
      maintained in reasonable detail, must appropriately reflect the Company’s
      transactions and must both conform to applicable legal requirements and to
      the
      Company’s system of internal controls. Unrecorded or “off the books” funds or
      assets should not be maintained unless permitted by applicable law or
      regulation.

    

    Records
      should always be retained or destroyed according to the Company’s record
      retention policies. In accordance with those policies, in the event of
      litigation or governmental investigation, please consult the board of directors
      or the Company’s counsel.

    

    Improper
      Influence on Conduct of Audits

    

    No
      director or officer, or any other person acting under the direction thereof,
      shall directly or indirectly take any action to coerce, manipulate, mislead
      or
      fraudulently influence any public or certified public accountant engaged in
      the
      performance of an audit or review of the financial statements of the Company
      or
      take any action that such person knows or should know that if successful could
      result in rendering the Company's financial statements materially misleading.
      Any person who believes such improper influence is being exerted should report
      such action to such person’s supervisor, or if that is impractical under the
      circumstances, to any of our directors.

    

    Types
      of
      conduct that could constitute improper influence include, but are not limited
      to, directly or indirectly: 

    
      	·  	
              Offering
                or paying bribes or other financial incentives, including future
                employment or contracts for non-audit services;

            

    

    
      	·  	
              Providing
                an auditor with an inaccurate or misleading legal analysis;
                

            

    

    
      	·  	
              Threatening
                to cancel or canceling existing non-audit or audit engagements if
                the
                auditor objects to the Company’s accounting;

            

    

    
      	·  	
              Seeking
                to have a partner removed from the audit engagement because the partner
                objects to the Company’s accounting;

            

    

    
      	·  	
              Blackmailing;
                and 

            

    

    
      	·  	
              Making
                physical threats. 

            

    

    

    Anti-Corruption
      Laws 

    

    The
      Company complies with the anti-corruption laws of the countries in which it
      does
      business, including the U.S. Foreign Corrupt Practices Act (FCPA). Directors,
      officers and employees will not directly or indirectly give anything of value
      to
      government officials, including employees of state-owned enterprises or foreign
      political candidates. These requirements apply both to Company employees and
      agents, such as third party sales representatives, no matter where they are
      doing business. If you are authorized to engage agents, you are responsible
      for
      ensuring they are reputable and for obtaining a written agreement to uphold
      the
      Company’s standards in this area.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    REPORTING
      ILLEGAL OR UNETHICAL BEHAVIOR

    

    Reporting
      Illegal or Unethical Behavior

    

    Employees,
      officers and directors who suspect or know of violations of this Code or illegal
      or unethical business or workplace conduct by employees, officers or directors
      have an obligation to contact either their supervisor or superiors. If the
      individuals to whom such information is conveyed are not responsive, or if
      there
      is reason to believe that reporting to such individuals is inappropriate in
      particular cases, then the employee, officer or director may contact the Chief
      Executive Officer or the President of the Company. Such communications will
      be
      kept confidential to the extent feasible. If the employee is still not satisfied
      with the response, the employee may contact the chairman of the board of
      directors or any of the Company’s outside directors.

    

    Accounting
      Complaints

    

    The
      Company’s policy is to comply with all applicable financial reporting and
      accounting regulations. If any director, officer or employee of the Company
      has
      unresolved concerns or complaints regarding questionable accounting or auditing
      matters of the Company, then he or she is encouraged to submit those concerns
      or
      complaints (anonymously, confidentially or otherwise) to the Company’s audit
      committee and/or board of directors. Subject to their legal duties, the audit
      committee and/or the board of directors will treat such submissions
      confidentially. Such submissions may be directed to the attention of the
      Company’s audit committee and/or board of directors.

     

    Non-Retaliation

    

    The
      Company prohibits retaliation of any kind against individuals who have made
      good
      faith reports or complaints of violations of this Code or other known or
      suspected illegal or unethical conduct.

    

    Amendment,
      Modification and Waiver

    

    This
      code
      may be amended or modified by the board of directors of the Company. Only the
      board of directors or a committee of the board of directors with specific
      delegated authority may grant waivers of this Code of Conduct and Ethics.
      Waivers will be disclosed to stockholders as required by the Securities Exchange
      Act of 1934 and the rules thereunder and the applicable rules of the American
      Stock Exchange.

    

    Violations

    

    Violation
      of this Code of Conduct and Ethics is grounds for disciplinary action up to
      and
      including termination of employment. Such action is in addition to any civil
      or
      criminal liability which might be imposed by any court or regulatory
      agency.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    CODE
      OF ETHICS FOR CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL
      OFFICERS

    

    Attached
      hereto is the Code of Conduct and Ethics applicable to all directors, officers
      and employees of the Company. The CEO and all senior financial officers,
      including the CFO and principal accounting officer, are bound by the provisions
      set forth therein relating to ethical conduct, conflicts of interest, and
      compliance with law. In addition to the Code of Conduct and Ethics, the CEO
      and
      senior financial officers are subject to the following additional specific
      policies:

    

    1. Act
      with
      honesty and integrity, avoiding actual or apparent conflicts between personal,
      private interests and the interests of the Company, including receiving improper
      personal benefits as a result of his or her position.

    

    2. Disclose
      to the CEO and the Board of Directors of the Company any material transaction
      or
      relationship that reasonably could be expected to give rise to a conflict of
      interest.

    

    3. Perform
      responsibilities with a view to causing periodic reports and documents filed
      with or submitted to the SEC and all other public communications made by the
      Company to contain information that is accurate, complete, fair, objective,
      relevant, timely and understandable, including full review of all annual and
      quarterly reports.

    

    4. Comply
      with laws, rules and regulations of federal, state and local governments
      applicable to the Company and with the rules and regulations of private and
      public regulatory agencies having jurisdiction over the Company.

    

    5. Act
      in
      good faith, responsibly, with due care, competence and diligence, without
      misrepresenting or omitting material facts or allowing independent judgment
      to
      be compromised or subordinated.

    

    6. Respect
      the confidentiality of information acquired in the course of performance of
      his
      or her responsibilities except when authorized or otherwise legally obligated
      to
      disclose any such information; not use confidential information acquired in
      the
      course of performing his or her responsibilities for personal
      advantage.

    

    7. Share
      knowledge and maintain skills important and relevant to the needs of the
      Company, its stockholders and other constituencies and the general
      public.

    

    8. Proactively
      promote ethical behavior among subordinates and peers in his or her work
      environment and community.

    

    9. Use
      and
      control all corporate assets and resources employed by or entrusted to him
      or
      her in a responsible manner.

    

    10. Not
      use
      corporate information, corporate assets, corporate opportunities or his or
      her
      position with the Company for personal gain; not compete directly or indirectly
      with the Company.

    

    11. Comply
      in
      all respects with the Company’s Code of Conduct and Ethics.

    

    12. Advance
      the Company’s legitimate interests when the opportunity arises.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    The
      Board
      of Directors will investigate any reported violations and will oversee an
      appropriate response, including corrective action and preventative measures.
      Any
      officer who violates this Code will face appropriate, case specific disciplinary
      action, which may include demotion or discharge.

    

    Any
      request for a waiver of any provision of this Code must be in writing and
      addressed to the Chairman of the Board of Directors of the Company. Any waiver
      of this Code will be disclosed promptly on Form 8-K or any other means approved
      by the Securities and Exchange Commission.

    

    It
      is the
      policy of the Company that each officer covered by this Code shall acknowledge
      and certify to the foregoing annually and file a copy of such certification
      with
      the Chairman of the Board of Directors.

    

    OFFICER’S
      CERTIFICATION

    

    I
      have
      read and understand the foregoing Code of Conduct and Ethics. I hereby certify
      that I am in compliance with the foregoing Code of Conduct and Ethics and I
      will
      comply with the Code in the future. I understand that any violation of the
      Code
      will subject me to appropriate disciplinary action, which may include demotion
      or discharge.

    

     

    
      	Dated:____________________________	 	______________________________
	
            	 	Name:

    

     

    
      
        
        

      

      
        6

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