Document:

Exhibit 10.4

 

SHARE ESCROW AGREEMENT

 

SHARE ESCROW AGREEMENT, dated as of [•],
2014 (“Agreement”), by and among DT ASIA INVESTMENTS LIMITED, a British Virgin Islands Company (“Company”),
detiger holdings limited (“DHL”), emily chui-hung tong, stephen n. cannon,
haibin wang, foelan wong, hai wang and jason kon man wong (collectively “Initial
Shareholders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York corporation (“Escrow Agent”).

 

WHEREAS, the Company has entered into an Underwriting
Agreement, dated as of [•], 2014 (“Underwriting Agreement”), with EarlyBirdCapital, Inc. (“EBC”) acting
as representative of the several underwriters (collectively, the “Underwriters”), pursuant to which, among other matters,
the Underwriters have agreed to purchase 6,000,000 units (“Units”) of the Company, plus an additional 900,000 Units
if the Underwriters exercise their over-allotment option in full. Each Unit consists of one ordinary share of the Company, no par
value per share (“Ordinary Share”), one warrant (the “Warrant”) to purchase one-half of one Ordinary Share
and one right (“Right”) to receive one-tenth of one Ordinary Share upon the Company’s initial business combination
(as described in the Registration Statement, hereinafter a “Business Combination”), all as more fully described in
the Company’s final Prospectus, dated [•], 2014 (“Prospectus”), comprising part of the Company’s Registration
Statement on Form S-1 (File No. 333-197187) under the Securities Act of 1933, as amended (“Registration Statement”),
declared effective on [•], 2014 (“Effective Date”).

 

WHEREAS, the Initial Shareholders have agreed
as a condition of the sale of the Units to deposit their Ordinary Shares of the Company, as set forth opposite their respective
names in Exhibit A attached hereto (collectively “Escrow Shares”), in escrow as hereinafter provided.

 

WHEREAS, the Company and the Initial Shareholders
desire that the Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as hereinafter provided.

 

IT IS AGREED:

 

1.    Appointment of Escrow
Agent. The Company and the Initial Shareholders hereby appoint the Escrow Agent to act in accordance with and subject to the
terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject
to such terms.

 

2.    Deposit of Escrow Shares. On the Effective Date,
certificates representing each Initial Shareholder’s respective Escrow Shares (and any applicable share power) shall be placed
in escrow, to be held and disbursed subject to the terms and conditions of this Agreement. Each Initial Shareholder acknowledges
that the certificate representing such Initial Shareholder’s Escrow Shares will be legended to reflect the deposit of such
Escrow Shares under this Agreement.

 

    	 

    	 

    

 

3.    Disbursement of the Escrow Shares.

 

       3.1        The Escrow Agent shall hold the Escrow Shares during
the period (the “Escrow Period”) commencing on the date hereof and (i) for 50% of the Escrow Shares, ending on the
earlier of (x) one year after the date of the consummation of the Company’s initial Business Combination and (y) the date
on which the closing sale price of the Company’s Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share
splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing
after the Company’s initial Business Combination and (ii) for the remaining 50% of the Escrow Shares, ending one year after
the date of the consummation of an initial Business Combination; provided, however, that if, subsequent to the Company’s
consummation of an initial Business Combination, the Company (or the surviving entity) subsequently consummates a liquidation,
merger, share exchange or other similar transaction which results in all of the shareholders of such entity having the right to
exchange their Ordinary Shares for cash, securities or other property, then the Escrow Agent will, upon receipt of a notice executed
by the Chairman of the Board, Chief Executive Officer or other authorized officer of the Company, in form reasonably acceptable
to the Escrow Agent, certifying that such transaction is then being consummated, release the Escrow Shares then held by it to the
Initial Shareholders. The Company shall promptly provide notice of the consummation of an initial Business Combination to the Escrow
Agent. Upon completion of the Escrow Period, the Escrow Agent shall disburse such amount of each Initial Shareholder’s Escrow
Shares (and any applicable share power) to such Initial Shareholder; provided, however, that if the Escrow Agent is notified by
the Company pursuant to Section 6.7 hereof that the Company is being liquidated at any time during the Escrow Period, then the
Escrow Agent shall promptly destroy the certificates representing the Escrow Shares. The Escrow Agent shall have no further duties
hereunder after the disbursement or destruction of the Escrow Shares in accordance with this Section 3.

 

       3.2        Notwithstanding Section 3.1, if the Underwriters do not
exercise their over-allotment option to purchase an additional 900,000 Units of the Company in full within 45 days of the date
of the Prospectus (as described in the Underwriting Agreement), DHL agrees that the Escrow Agent shall return to the Company for
cancellation, at no cost, a number of Escrow Shares held by DHL determined by multiplying (a) 225,000 by (b) a fraction, (i) the
numerator of which is 900,000 minus the number of Ordinary Shares purchased by the Underwriters upon the exercise of their over-allotment
option, and (ii) the denominator of which is 900,000. The Company shall promptly provide notice to the Escrow Agent of the expiration
or termination of the Underwriters’ over-allotment option and the number of Units, if any, purchased by the Underwriters
in connection with their exercise thereof.

 

4.    Rights of Initial Shareholders in Escrow Shares.

 

       4.1        Voting Rights as a Shareholder.
Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein provided, the Initial Shareholders
shall retain all of their rights as shareholders of the Company during the Escrow Period, including, without limitation, the right
to vote such shares.

 

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       4.2        Dividends and Other Distributions in Respect of the
Escrow Shares. During the Escrow Period, all dividends payable in cash with respect to the Escrow Shares shall be paid to the
Initial Shareholders, but all dividends payable in shares or other non-cash property (“Non-Cash Dividends”) shall be
delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term “Escrow Shares”
shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

 

       4.3        Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) to any persons (including
their affiliates and shareholders) participating in the private placement of the private units, officer, director, securityholder,
employee, member or affiliate of DHL, (ii) amongst the Initial Holders or to the Company’s officers, directors and employees,
(iii) if the Initial Shareholder is an entity, as a distribution to partners, members or shareholders of the Initial Shareholder
upon the liquidation and dissolution of the Initial Shareholder, (iv) by bona fide gift to a member of the Initial Shareholder’s
immediate family or to a trust, the beneficiary of which is the Initial Shareholder or a member of the Initial Shareholder’s
immediate family for estate planning purposes, (v) by virtue of the laws of descent and distribution upon death of the Initial
Holder, (vi) pursuant to a qualified domestic relations order, (vii) by certain pledges to secure obligations incurred in connection
with purchases of the Company’s securities, (viii) by private sales at prices no greater than the price at which the Escrow
Shares were originally purchased or (ix) to the Company for cancellation as set forth in Section 3.2 hereof or in connection with
the consummation of a Business Combination, in each case, except for clause (ix), on the condition that such transfers may be
implemented only upon the respective transferee’s written agreement to be bound by the terms and conditions of this Agreement
and of the Insider Letter (as defined below) signed by the Initial Shareholder transferring the Escrow Shares. 

 

       4.4        Insider Letters. Each of the Initial Shareholders
has executed a letter agreement with EBC and the Company, dated as indicated on Exhibit A hereto, and the form of which is filed
as an exhibit to the Registration Statement (“Insider Letter”), respecting the rights and obligations of such Initial
Shareholder in certain events, including but not limited to the liquidation of the Company.

 

5.    Concerning the Escrow
Agent.

 

       5.1        Good Faith Reliance. The Escrow Agent shall not
be liable for any action taken or omitted by it in good faith and in the exercise of its own best judgment, and may rely conclusively
and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen
by the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due execution and the validity
and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which is
believed by the Escrow Agent to be genuine and to be signed or presented by the proper person or persons. The Escrow Agent shall
not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement unless evidenced
by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the Escrow Agent
are affected, unless it shall have given its prior written consent thereto.

 

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       5.2        Indemnification. The Escrow Agent shall be indemnified
and held harmless by the Company from and against any expenses, including counsel fees and disbursements, or loss suffered by the
Escrow Agent in connection with any action, suit or other proceeding involving any claim which in any way, directly or indirectly,
arises out of or relates to this Agreement, the services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder,
other than expenses or losses arising from the gross negligence or willful misconduct of the Escrow Agent. Promptly after the receipt
by the Escrow Agent of notice of any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall
notify the other parties hereto in writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion,
may commence an action in the nature of interpleader in an appropriate court to determine ownership or disposition of the Escrow
Shares or it may deposit the Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt
of a final, non appealable order of a court having jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and delivered. The provisions of this Section 5.2 shall survive in the event
the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

       5.3        Compensation. The Escrow Agent shall be entitled
to reasonable compensation from the Company for all services rendered by it hereunder. The Escrow Agent shall also be entitled
to reimbursement from the Company for all expenses paid or incurred by it in the administration of its duties hereunder including,
but not limited to, all counsel, advisors’ and agents’ fees and disbursements and all taxes or other governmental charges.

 

       5.4        Further Assurances. From time to time on and after
the date hereof, the Company and the Initial Shareholders shall deliver or cause to be delivered to the Escrow Agent such further
documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably request to carry
out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure itself that it
is protected in acting hereunder.

 

       5.5        Resignation. The Escrow Agent may resign at any
time and be discharged from its duties as escrow agent hereunder by its giving the other parties hereto written notice and such
resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time that the Escrow
Agent shall turn over to a successor escrow agent appointed by the Company, the Escrow Shares held hereunder. If no new escrow
agent is so appointed within the 60 day period following the giving of such notice of resignation, the Escrow Agent may deposit
the Escrow Shares with any court it reasonably deems appropriate.

 

       5.6        Discharge of Escrow Agent. The Escrow Agent shall
resign and be discharged from its duties as escrow agent hereunder if so requested in writing at any time by the other parties
hereto, jointly, provided, however, that such resignation shall become effective only upon acceptance of appointment by a successor
escrow agent as provided in Section 5.5.

 

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       5.7        Liability. Notwithstanding anything herein to
the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross negligence or its own willful misconduct.

 

       5.8        Waiver. The Escrow Agent hereby waives any right
of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust
Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company
and the Escrow Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever.

 

6.    Miscellaneous.

 

       6.1        Governing Law; Jurisdiction. In connection with
Section 5-1401 of the General Obligations Law of the State of New York, this Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York without regard to principles of conflicts of law that would result in the application of
the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding or claim arising out of or relating
in any way to this Agreement shall be resolved through final and biding arbitration in accordance with the International Arbitration
Rules of the American Arbitration Association (“AAA”). The arbitration shall be brought before the AAA International
Center for Dispute Resolution’s offices in New York City, New York, will be conducted in English and will be decided by a
panel of three arbitrators selected from the AAA Commercial Disputes Panel and that the arbitrator panel’s decision shall
be final and enforceable by any court having jurisdiction over the party from whom enforcement is sought. The cost of such arbitrators
and arbitration services, together with the prevailing party’s legal fees and expenses, shall be borne by the non-prevailing
party or as otherwise directed by the arbitrators. The Company hereby appoints, without power of revocation, Ellenoff Grossman
& Schole LLP 1345 Avenue of the Americas, New York, NY 10105 Fax No.: (212) 370-7889 Attn: Stuart Neuhauser, Esq., as their
respective agent to accept and acknowledge on its behalf service of any and all process which may be served in any arbitration,
action, proceeding or counterclaim in any way relating to or arising out of this Agreement. The Company further agrees to take
any and all action as may be necessary to maintain such designation and appointment of such agent in full force and effect for
a period of seven years from the date of this Agreement. This Agreement may be executed in several original or facsimile counterparts,
each one of which shall constitute an original, and together shall constitute but one instrument.

 

       6.2        Third Party Beneficiaries. Each of the Initial
Shareholders hereby acknowledges that the Underwriters are third party beneficiaries of this Agreement and this Agreement may not
be modified or changed without the prior written consent of EBC.

 

       6.3        Entire Agreement. This Agreement contains the
entire agreement of the parties hereto with respect to the subject matter hereof and, except as expressly provided herein, may
not be changed or modified except by an instrument in writing signed by the party to the charged.

 

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       6.4        Headings. The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation thereof.

 

       6.5        Binding Effect. This Agreement shall be binding
upon and inure to the benefit of the respective parties hereto and their legal representatives, successors and assigns.

 

       6.6        Notices. Any notice or other communication required
or which may be given hereunder shall be in writing and either be delivered personally or be mailed, certified or registered mail,
or by private national courier service, return receipt requested, postage prepaid, and shall be deemed given when so delivered
personally or, if mailed, two days after the date of mailing, as follows:

 

If to the Company, to:

 

DT Asia Investments Limited

Room 1102, 11/F.,

Beautiful Group Tower,

77 Connaught Road Central,

Hong Kong

Attn: Stephen N. Cannon, Chief Executive
Officer

 

If to a Shareholder, to his address set forth
in Exhibit A.

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn: Chairman

 

A copy of any notice sent hereunder shall be
sent to:

 

EarlyBirdCapital, Inc.

275 Madison Avenue, 27th Floor

New York, New York 10016

Attn: David M. Nussbaum, Chairman

 

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and:

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas,

New York, NY10105

Attn: Stuart Neuhauser, Esq.

 

and:

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

 

The parties may change the persons and addresses
to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided
herein for giving notice.

 

       6.7        Liquidation of the Company. The Company shall
give the Escrow Agent written notification of the liquidation and dissolution of the Company in the event that the Company fails
to consummate a Business Combination within the time period specified in the Prospectus.

 

[Signature Page Follows]

 

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WITNESS the execution of this Agreement as of
the date first above written.

 

	 	COMPANY:
	 	 	 
	 	DT ASIA INVESTMENTS LIMITED
	 	 	 
	 	By:	
	 	Name:	Stephen N. Cannon
	 	Title:	Chief Executive Officer
	 	 	 
	 	INITIAL SHAREHOLDERS:
	 	 	 
	 	DeTiger Holdings Limited
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	
	 	 	Emily Chui-Hung Tong
	 	 	 
	 	 	
	 	 	Stephen N. Cannon
	 	 	 
	 	 	 
	 	 	Haibin Wang
	 	 	 
	 	 	
	 	 	Hai Wang
	 	 	 
	 	 	
	 	 	Foelan Wong
	 	 	 
	 	 	
	 	 	Jason Kon Man Wong
	 	 	 
	 	ESCROW AGENT:
	 	 	 
	 	CONTINENTAL STOCK TRANSFER 

& TRUST COMPANY
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:	 

  

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EXHIBIT A

 

	
        Name and Address of
        

        Initial Shareholder
        
	 	
        Number

        of
        Shares
	 	
        Share

        Certificate
        

Number
	 	
        Date
        of 

        Insider
        Letter

	Emily Chui-Hung Tong	 	50,000	 	1	 	[•], 2014
	 	 	 	 	 	 	 
	Stephen N. Cannon	 	50,000	 	2	 	[•], 2014
	 	 	 	 	 	 	 
	DeTiger Holdings Limited	 	1,525,000	 	3	 	[•], 2014
	 	 	 	 	 	 	 
	Haibin Wang	 	25,000	 	[•]	 	[•], 2014
	 	 	 	 	 	 	 
	Hai Wang	 	25,000	 	[•]	 	[•], 2014
	 	 	 	 	 	 	 
	Foelan Wong	 	25,000	 	[•]	 	[•], 2014
	 	 	 	 	 	 	 
	
        Jason Kon Man Wong
	 	25,000	 	[•]	 	[•], 2014

 

 

 

9Exhibit 10.5

 

DT Asia
Investments Limited

100 Park Avenue, Suite 1600

New York, NY 10017

 

June 5, 2014

 

Emily Chui-Hung Tong

 

RE:Securities Purchase Agreement

 

Ladies and Gentlemen:

 

We are pleased to accept
the offer Emily Chui-Hung Tong (the “Subscriber”) has made to purchase 50,000 ordinary shares (the “Shares”)
of no par value per share (the “Ordinary Shares”), of DT Asia Investments Limited, a British Virgin Islands
company (the “Company”). The terms on which the Company is willing to sell the Shares to the Subscriber, and
the Company and the Subscriber’s agreements regarding such Shares, are as follows:

 

1.           Purchase of Shares.
For the aggregate sum of $725 (the “Purchase Price”), which the Company acknowledges receiving in cash, the
Company hereby sells and issues to the Subscriber, and the Subscriber hereby purchases from the Company the Shares, for a purchase
price of approximately $0.0145 per Share, on the terms and subject to the conditions set forth in this Agreement. Concurrently
with the Subscriber’s execution of this Agreement, the Company is delivering to the Subscriber certificate(s) registered
in the Subscriber’s name representing the Shares, receipt of which the Subscriber hereby acknowledges.

 

2.           Representations,
Warranties and Agreements.

 

2.1           Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.  No
Government Recommendation or Approval. The Subscriber understands that no United States federal or state agency or similar
agency of any other country has passed upon or made any recommendation or endorsement of the offering of the Shares.

 

2.1.2.  No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) any agreement, indenture or instrument to which
the Subscriber is a party or (ii) any law, statute, rule or regulation to which the Subscriber is subject, or any agreement, order,
judgment or decree to which the Subscriber is subject.

 

2.1.3.  Organization
and Authority. Upon execution and delivery by the Subscriber, this Agreement is a legal, valid and binding agreement of such
Subscriber, enforceable against such Subscriber in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and
subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

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2.1.4.  Experience,
Financial Capability and Suitability. Each Subscriber is: (i) sophisticated in financial matters and is able to evaluate the
risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of his or her investment in the Shares
for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore
cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. The
Subscriber has substantial experience in evaluating and investing in transactions of securities in companies similar to the Company
so that he or she is capable of evaluating the merits and risks of his or her investment in the Company and has the capacity to
protect his or her own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant
to: (i) an effective registration statement under the Securities Act or (ii) an exemption from registration available with respect
to such sale. The Subscriber is able to bear the economic risks of an investment in the Shares and to afford a complete loss of
Subscriber’s investment in the Shares.

 

2.1.5.  Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and
the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any information
or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on any other representations
or information in making its investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

2.1.6.  Regulation
D Offering. The Subscriber represents that he or she 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.

 

2.1.7.  Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof and the
Subscriber has no present arrangement to sell the interest in the Shares to or through any person or entity. The Subscriber did
not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule
502 under the Securities Act.

 

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2.1.8.  Restrictions
on Transfer; Shell Company. The Subscriber understands the Shares are being offered in a transaction not involving a public
offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities”
within the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that the certificates representing the
Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration
under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
to resell the Shares. The Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9.  No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2          Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1.Organization
and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of
the British Virgin Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.2.2.No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the memorandum and articles of association of the Company,
(ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3. Title to
Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a)
transfer restrictions hereunder and under the other agreements contemplated hereby, (b) transfer restrictions under federal and
state securities laws, and (c) liens, claims or encumbrances imposed due to the action of the Subscriber.

 

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3.           Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement and any
other Company securities purchased on a private placement basis, the Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions by the Company from the Trust Account (as such term is defined in the Investment
Management Trust Agreement to be entered by and between the Company and the trustee thereunder), 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
any Subscriber purchases Ordinary Shares in the IPO or in the aftermarket, any additional shares so purchased shall be eligible
to receive their pro rata portion of any liquidating distributions by the Company. However, in no event will the Subscriber have
the right to redeem any Shares, or any Ordinary Shares purchased in the IPO or in the aftermarket, for funds held in the Trust
Account upon the successful completion of a Business Combination.

 

4.           Restrictions on
Transfer.

 

4.1.           Securities Law
Restrictions. In addition to any restrictions to be contained in the Letter Agreement (as defined in Section 4.4 below), the
Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior
thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with
respect to the Shares proposed to be transferred shall then be effective or (b) the Company shall have received an opinion from
counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is exempt from
registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and with all
applicable state securities laws.

 

4.2.           Restrictive Legends.
All certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, 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 SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS
AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

4.3.           Additional Shares
or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend
payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding capital stock without receipt of consideration, any new, substituted or additional
securities or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section
4 or into which such Shares thereby become convertible shall immediately be subject to this Section 4. Appropriate adjustments
to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section
4.

 

    	4

    	 

    

 

4.4.           Lock-up.
The Subscriber acknowledges that the Shares will be subject to lock-up provisions (the “Lock-up”) contained
in a Letter Agreement between the Subscriber and the Company, to be entered into prior to the date of the preliminary prospectus
in connection with the IPO (the “Letter Agreement”). Pursuant to the Letter Agreement, the Subscriber shall
not sell, transfer, pledge, hypothecate or otherwise dispose of any or all of 50% of his or her respective Shares until the earlier
of one year after the date of the consummation of the Company’s initial business combination (the “Consummation
Date”) and the date on which the closing price of the Ordinary Shares exceeds $12.50 per share for any 20 trading days
within a 30-trading day period following the Consummation Date (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations). In addition, the Subscriber shall not sell, transfer, pledge, hypothecate or otherwise dispose of any or
all of the remaining 50% of the Shares until one year after the Consummation Date. Notwithstanding the foregoing, the aforesaid
restrictions shall lapse if, subsequent to the Consummation Date, the Company consummates a subsequent liquidation, merger, stock
exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their
Ordinary Shares for cash, securities or other property.

 

4.5.           Registration Rights.
The Subscriber acknowledges that the Shares are being purchased 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 into with the Company prior to the closing of the IPO (“Registration Rights
Agreement”). The Subscriber is entitled to make such number of demands that the Company registers the Shares pursuant
to the terms and restrictions as set forth in the Registration Rights Agreement. 

 

5.          Other
Agreements.

 

5.1.          Further Assurances.
The Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry
out the intent of this Agreement.

 

5.2.          No Obligation as
to Employment.The Company is not by reason of this Agreement obligated to employ, or continue to employ, the Subscriber
in any capacity.

 

5.3.           Notices. All
notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s
address set forth on the first page of this Agreement or to such other address as a party may designate by notice hereunder, and
shall be either (a) delivered by hand, (b) sent by overnight courier, or (c) sent by certified mail, return receipt requested,
postage prepaid. All notices, requests, consents and other communications hereunder shall be deemed to have been given either (i)
if by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if sent
by overnight courier, on the next business day following the day such notice is delivered to the courier service, or (iii) if sent
by certified mail, on the (5th) business day following the day such mailing is made.

 

5.4.           Entire Agreement.
This Agreement, together with the Letter Agreement, substantially in the form to be filed as an exhibit to the Company’s
registration statement on Form S-1, embodies the entire agreement and understanding between the Subscriber and the Company with
respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement
shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

    	5

    	 

    

 

5.5.           Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

5.6.           Waivers and Consents.
The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document
executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or
shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each
such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent.

 

5.7.           Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
the other party.

 

5.8.           Benefit. All
statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and
shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall
be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as
a third-party beneficiary of this Agreement.

 

5.9.           Governing Law.
This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the
laws of the British Virgin Islands for agreements made and to be wholly performed within such country.

 

5.10.         Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

5.11.         No Waiver of
Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party.
No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance
of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this
Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in
any circumstances without such notice or demand.

 

    	6

    	 

    

 

5.12.         Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

5.13.         No Broker
or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant
has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any
liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for
commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by
or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

5.14.         Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

5.15.         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.

6.          Voting
and Tender of Shares. The Subscriber agrees to vote the Shares as well as any Ordinary Shares acquired in the IPO or the aftermarket
in favor of a Business Combination that the Company negotiates and presents for approval to the Company’s shareholders and
shall not seek redemption with respect to the Shares. Additionally, the Subscriber agrees not to tender any Share in connection
with a tender offer presented to the Company’s shareholders in connection with an initial business combination negotiated
by the Company. 

7.          Indemnification.
Each party shall indemnify the other and the underwriter of the IPO 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.

[Signature Page Follows]

    	7

    	 

    

If the foregoing accurately sets forth
our understanding and agreement, please sign the enclosed copy of this agreement and return it to us.

 

	 	 	Very
    truly yours,
	 	 	 	 
	 	 	DT ASIA INVESTMENTS LIMITED
	 	 	 	 
	 	 	By: 	/s/
    Winnie Lai Ling Ng
	 	 	Name:  	Winnie
    Lai Ling Ng
	 	 	Title:   	Sole
    Director
	 	 	 	 
	Accepted
    and agreed this 	 	 	 
	June 5, 2014	 	 	 
	 	 	 	 
	/s/
    Emily Chui-Hung Tong	 	 	 
	Emily
    Chui-Hung Tong	 	 	 

 

 

8

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