Document:

Exhibit
        4.5

      

      THE
        REGISTERED HOLDER OF THIS PURCHASE OPTION, BY ITS ACCEPTANCE HEREOF, AGREES
        THAT
        IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION, EXCEPT AS HEREIN
        PROVIDED, AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT
        WILL
        NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR
        A
        PERIOD OF 180 DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) IN ACCORDANCE
        WITH NASD RULE 2710(g)(1) TO ANYONE OTHER THAN (I) MAXIM GROUP LLC AND ITS
        AFFILIATES ("MAXIM") OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
        WITH
        THE OFFERING (DEFINED HEREIN), OR (II) A BONA FIDE OFFICER, PARTNER OR EMPLOYEE
        OF MAXIM OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

      

      THIS
        PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF (I) THE CONSUMMATION
        BY
        PINPOINT ADVANCE CORP. ("COMPANY") OF A MERGER, CAPITAL STOCK EXCHANGE, ASSET
        OR
        STOCK ACQUISITION OR OTHER SIMILAR BUSINESS COMBINATION ("BUSINESS COMBINATION")
        (AS DESCRIBED MORE FULLY IN THE COMPANY'S REGISTRATION STATEMENT (DEFINED
        HEREIN)) AND (II) ______________, 2007 (180 DAYS FROM THE DATE HEREOF). THIS
        PURCHASE OPTION SHALL BE VOID AFTER 5:00 P.M. EASTERN TIME, _____________,
        2012.

      

      UNIT
        PURCHASE OPTION

      

      FOR
        THE
        PURCHASE OF

      

      125,000
        UNITS

      

      OF

      

      PINPONT
        ADVANCE CORP.

      

      1.
        Purchase Option.

      

      THIS
        CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of Maxim
        Group LLC (collectively, with its successors and permitted assigns and/or
        transferees, the "Holder"), as registered owner of this Purchase Option,
        to
        Pinpoint Advance Corp. (the "Company"), Holder is entitled, at any time or
        from
        time to time upon the later of (i) the consummation of a Business Combination
        and (ii) ____________, 2007 (180 days from the date hereof) ("Commencement
        Date"), and at or before 5:00 p.m., Eastern Time, ____________, 2012
        ("Expiration Date"), but not thereafter, to subscribe for, purchase and receive,
        in whole or in part, up to One Hundred and Twenty Five Thousand (125,000)
        units
        (the "Units") of the Company, each Unit consisting of one share of common
        stock
        of the Company, par value $0.0001 per share (the "Common Stock"), and one
        warrant (the "Warrant") expiring five years from the effective date ("Effective
        Date") of the registration statement ("Registration Statement") pursuant
        to
        which Units are offered for sale to the public (the "Offering"). Each Warrant
        contains the same terms and conditions as the warrants included in the Units
        being registered for sale to the public by way of the Registration Statement
        (the "Public Warrants"), including that the Warrants underlying the Units
        comprising this Purchase Option have an exercise price of $7.50 per share.
        If
        the Expiration Date is a day on which banking institutions are authorized
        by law
        to close, then this Purchase Option may be exercised on the next succeeding
        day
        which is not such a day in accordance with the terms herein. During the period
        ending on the Expiration Date, the Company agrees not to take any action
        that
        would terminate the Purchase Option. This Purchase Option is initially
        exercisable at $11.00 per Unit so purchased; provided, however, that upon
        the
        occurrence of any of the events specified in Section 6 hereof, the rights
        granted by this Purchase Option, including the exercise price per Unit and
        the
        number of Units (and shares of Common Stock and Warrants) to be received
        upon
        such exercise, shall be adjusted as therein specified. The term "Exercise
        Price"
        shall mean the initial exercise price or the adjusted exercise price, depending
        on the context.

       

      2.
        Exercise.

      

      2.1
        Exercise Form. In order to exercise this Purchase Option, the exercise form
        attached hereto must be duly executed and completed and delivered to the
        Company, together with this Purchase Option and payment of the Exercise Price
        for the Units being purchased payable in cash or by certified check or official
        bank check. If the subscription rights represented hereby shall not be exercised
        at or before 5:00 p.m., New York City Time, on the Expiration Date, this
        Purchase Option shall become and be void without further force or effect,
        and
        all rights represented hereby shall cease and expire.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      2.2
        Legend. Each certificate for the securities purchased under this Purchase
        Option
        shall bear a legend as follows unless such securities have been registered
        under
        the Securities Act of 1933, as amended (the "Act"):

      

      "THE
        SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
        THE
        SECURITIES ACT OF 1933, AS AMENDED ("ACT") OR APPLICABLE STATE LAW. THE
        SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED, IN
        WHOLE
        OR IN PART, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
        THE
        ACT, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND APPLICABLE
        STATE LAW."

      

      2.3
        Cashless Exercise. In lieu of the payment of the Exercise Price multiplied
        by
        the number of Units for which this Purchase Option is exercisable (and in
        lieu
        of being entitled to receive Common Stock and Warrants) in the manner required
        by Section 2.1, the Holder shall have the right (but not the obligation)
        to
        convert any exercisable but unexercised portion of this Purchase Option into
        Units (the "Conversion Right") as follows: upon exercise of the Conversion
        Right, the Company shall deliver to the Holder (without payment by the Holder
        of
        any of the Exercise Price in cash) that number of shares of Common Stock
        and
        Warrants comprising that number of Units equal to the quotient obtained by
        dividing (x) the "Value" (as defined below) of the portion of the Purchase
        Option being converted by (y) the Current Market Value (as defined below)
        of the
        portion of the Purchase Option being converted. The "Value" of the portion
        of
        the Purchase Option being converted shall equal the remainder derived from
        subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units
        underlying the portion of this Purchase Option being converted from (b) the
        Current Market Value of a Unit multiplied by the number of Units underlying
        the
        portion of the Purchase Option being converted. As used herein, the term
        "Current Market Value" per Unit at any date means: (A) in the event that
        neither
        the Units nor Warrants are still trading, the remainder derived from subtracting
        (x) the exercise price of the Warrants multiplied by the number of shares
        of
        Common Stock issuable upon exercise of the Warrants underlying one Unit from
        (y)
        (i) the Current Market Price of the Common Stock multiplied by (ii) the number
        of shares of Common Stock underlying one Unit, which shall include the shares
        of
        Common Stock underlying the Warrants included in such Unit; (B) in the event
        that the Units, Common Stock and Public Warrants are still trading, (i) if
        the
        Units are listed on a national securities exchange or quoted on the Nasdaq
        Global Select Market, Nasdaq Global Market, Nasdaq Capital Market or NASD
        OTC
        Bulletin Board (or successor such as the Bulletin Board Exchange), the last
        sale
        price of the Units in the principal trading market for the Units as reported
        by
        the exchange, Nasdaq or the NASD, as the case may be, on the last trading
        day
        preceding the date in question; or (ii) if the Units are not listed on a
        national securities exchange or quoted on the Nasdaq Global Select Market,
        Nasdaq Global Market, Nasdaq Capital Market or the NASD OTC Bulletin Board
        (or
        successor exchange), but is traded in the residual over-the-counter market,
        the
        closing bid price for Units on the last trading day preceding the date in
        question for which such quotations are reported by the Pink Sheets, LLC or
        similar publisher of such quotations; and (C) in the event that the Units
        are
        not still trading but the Common Stock and Warrants underlying the Units
        are
        still trading, the Current Market Price of the Common Stock plus the product
        of
        (x) the Current Market Price of the Warrants and (y) the number of shares
        of
        Common Stock underlying the Warrants included in one Unit. The "Current Market
        Price" shall mean (i) if the Common Stock (or Warrants, as the case may be)
        is
        listed on a national securities exchange or quoted on the Nasdaq Global Select
        Market, Nasdaq Global Market, Nasdaq Capital Market or NASD OTC Bulletin
        Board
        (or successor such as the Bulletin Board Exchange), the last sale price of
        the
        Common Stock (or Warrants) in the principal trading market for the Common
        Stock
        as reported by the exchange, Nasdaq or the NASD, as the case may be, on the
        last
        trading day preceding the date in question; (ii) if the Common Stock (or
        Warrants, as the case may be) is not listed on a national securities exchange
        or
        quoted on the Nasdaq Global Select Market, Nasdaq Global Market, Nasdaq Capital
        Market or the NASD OTC Bulletin Board (or successor exchange), but is traded
        in
        the residual over-the-counter market, the closing bid price for the Common
        Stock
        (or Warrants) on the last trading day preceding the date in question for
        which
        such quotations are reported by the Pink Sheets, LLC or similar publisher
        of
        such quotations; and (iii) if the fair market value of the Common Stock cannot
        be determined pursuant to clause (i) or (ii) above, such price as the Board
        of
        Directors of the Company shall determine, in good faith. In the event the
        Public
        Warrants have expired and are no longer exercisable, no "Value" shall be
        attributed to the Warrants underlying this Purchase Option. Additionally,
        in the
        event that this Purchase Option is exercised pursuant to this Section 2.3
        and
        the Public Warrants are still trading, the "Value" shall be reduced by the
        difference between the Warrant Exercise Price and the exercise price of the
        Public Warrants multiplied by the number of Warrants underlying the Units
        included in the portion of this Purchase Option being converted.

       

      
        
          
          

        

        
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      2.4
        Mechanics of Cashless Exercise. The Cashless Exercise Right may be exercised
        by
        the Holder on any business day on or after the Commencement Date and not
        later
        than the Expiration Date by delivering the Purchase Option with the duly
        executed exercise form attached hereto with the cashless exercise section
        completed to the Company, exercising the Cashless Exercise Right and specifying
        the total number of Units the Holder will purchase pursuant to such Cashless
        Exercise Right.

      

      2.5
        No
        Net Cash Settlements or Damages Upon Failure of Registration. In no event
        shall
        the registered Holder of this Purchase Option be entitled to (i) net cash
        settlement of this Purchase Option or the Warrants underlying the Purchase
        Option, regardless of whether any or all of the Registrable Securities have
        been
        registered by the Company pursuant to an effective registration statement,
        or
        (ii) receive
        any damages if any or all of the Registrable Securities have not been registered
        by the Company pursuant to an effective registration statement, subject to
        the
        requirement that the Company use its best efforts to have a registration
        statement or post-effective amendment declared effective as soon as possible
        after receiving the Initial Demand Notice.
        The
        holder of the Warrants underlying the Purchase Option will not be entitled
        to
        exercise the Warrants underlying such Purchase Option unless a registration
        statement is effective, or an exemption from the registration requirements
        is
        available at such time and, if the holder does not, or is not able to, exercise
        the Warrants underlying the Purchase Option the Warrants will expire worthless.
        

      

      3.
        Transfer.

      

      3.1
        General Restrictions. The registered Holder of this Purchase Option, by its
        acceptance hereof, agrees that it will not sell, transfer, assign, pledge
        or
        hypothecate this Purchase Option for a period of 180 DAYS following the
        Effective Date in accordance with NASD Rule 2710(g)(1) to anyone other than
        (i)
        Maxim or an underwriter or a selected dealer in connection with the Offering,
        or
        (ii) a bona fide officer or partner of Maxim or of any such underwriter or
        selected dealer. On and after 180 days from the Effective Date, transfers
        to
        others may be made subject to compliance with or exemptions from applicable
        securities laws. In order to make any permitted assignment, the Holder must
        deliver to the Company the assignment form attached hereto duly executed
        and
        completed, together with the Purchase Option and payment of all transfer
        taxes,
        if any, payable in connection therewith. The Company shall within five business
        days transfer this Purchase Option on the books of the Company and shall
        execute
        and deliver a new Purchase Option or Purchase Options of like tenor to the
        appropriate assignee(s) expressly evidencing the right to purchase the aggregate
        number of Units purchasable hereunder or such portion of such number as shall
        be
        contemplated by any such assignment.

      

      3.2
        Restrictions Imposed by the Act. The securities evidenced by this Purchase
        Option shall not be transferred unless and until (i) the Company has received
        the opinion of counsel for the Holder that the securities may be transferred
        pursuant to an exemption from registration under the Act and applicable state
        securities laws, the availability of which is established to the reasonable
        satisfaction of the Company (the Company hereby agreeing that the opinion
        of
        Richardson & Patel LLP shall be deemed satisfactory evidence of the
        availability of an exemption), or (ii) a registration statement or a
post-effective
        amendment to the Registration Statement relating to such securities has been
        filed by the Company and declared effective by the Securities and Exchange
        Commission and compliance with applicable state securities law has been
        established.

       

      4.
        New
        Purchase Options to be Issued.

      

      4.1
        Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof,
        this Purchase Option may be exercised or assigned in whole or in part. In
        the
        event of the exercise or assignment hereof in part only, upon surrender of
        this
        Purchase Option for cancellation, together with the duly executed exercise
        or
        assignment form and, except in the case of an exercise of this Purchase Option
        contemplated by Section 2.3 hereof, funds sufficient to pay any Exercise
        Price
        and/or transfer tax, the Company shall cause to be delivered to the Holder
        without charge a new Purchase Option of like tenor to this Purchase
        Option in the name of the Holder evidencing the right of the Holder to purchase
        the number of Units purchasable hereunder as to which this Purchase Option
        has
        not been exercised or assigned.

       

      
        
          
          

        

        
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      4.2
        Lost
        Certificate. Upon receipt by the Company of evidence satisfactory to it of
        the
        loss, theft, destruction or mutilation of this Purchase Option and of reasonably
        satisfactory indemnification or the posting of a bond, the Company shall
        execute
        and deliver a new Purchase Option of like tenor and date. Any such new Purchase
        Option executed and delivered as a result of such loss, theft, mutilation
        or
        destruction shall constitute a substitute contractual obligation on the part
        of
        the Company.

      

      5.
        Registration Rights.

      

      5.1
        Demand Registration.

      

      5.1.1
        Grant of Right. The Company, upon written demand (an "Initial Demand Notice")
        of
        the holder(s) of at least an aggregate of 51% of all outstanding Purchase
        Options issued by the Company and/or the underlying Units and/or the underlying
        securities (the "Majority Holders"), agrees to use its best efforts to register
        on one occasion, all or any portion of
        the
        Purchase Options requested by the Majority Holders in the Initial Demand
        Notice
        and all of the securities underlying such Purchase Options, including the
        Units,
        Common Stock, the Warrants and the Common Stock underlying the Warrants
(collectively,
        the "Registrable Securities"). On such occasion, the Company will use its
        best
        efforts to file a registration statement or a post-effective amendment to
        the
        Registration Statement covering the Registrable Securities within sixty days
        after receipt of the Initial Demand Notice and use its best efforts to have
        such
        registration statement or post-effective amendment declared effective as
        soon as
        possible thereafter. The demand for registration may be made at any time
        during
        a period of five years beginning on the Effective Date. The Initial Demand
        Notice shall specify the number of shares of Registrable Securities proposed
        to
        be sold and the intended method(s) of distribution thereof. The Company will
        notify all holders of the Purchase Options and/or Registrable Securities
        of the
        demand within ten days from the date of the receipt of any such Initial Demand
        Notice. Each holder of Registrable Securities who wishes to include all or
        a
        portion of such holder's Registrable Securities in the Demand Registration
        (each
        such holder including shares of Registrable Securities in such registration,
        a
        "Demanding Holder") shall so notify the Company within fifteen (15) days
        after
        the receipt by the holder of the notice from the Company. Upon any such request,
        the Demanding Holders shall be entitled to have their Registrable Securities
        included in the Demand Registration, subject to Section 5.2.1.

      

      5.1.2
        Terms. The Company shall bear all fees and expenses attendant to registering
        the
        Registrable Securities, including the expenses of any legal counsel selected
        by
        the Holders to represent them in connection with the sale of the Registrable
        Securities, but the Holders shall pay any and all underwriting commissions.
        The
        Company agrees to use its reasonable
        best efforts to qualify or register the Registrable Securities in such States
        as
        are reasonably requested by the Majority Holder(s); provided, however, that
        in
        no event shall the Company be required to register the Registrable Securities
        in
        a State in which such registration would cause (i) the Company to be obligated
        to qualify to do business in such State, or would subject the Company to
        taxation as a foreign corporation doing business in such jurisdiction or
        (ii)
        the principal stockholders of the Company to be obligated to escrow their
        shares
        of capital stock of the Company. The Company shall use its
        best
        efforts to cause any registration statement or post-effective amendment filed
        pursuant to the demand rights granted under Section 5.1.1 to remain effective
        for a period of nine (9) months from the effective date of such registration
        statement or post-effective amendment.

      

      5.2
        "Piggy-Back" Registration.

      

      5.2.1
        Grant of Right. In addition to the demand right of registration, the Holders
        of
        the Purchase Options shall have the right for a period of seven years commencing
        on the Effective Date, to include the Registrable Securities as part of any
        other registration of securities filed by the Company (other than in connection
        with a transaction contemplated by Rule 145(a) promulgated under the Act
        or
        pursuant to Form S-8); provided, however, that if, in the written opinion
        of the
        Company's managing underwriter or underwriters, if any, for such offering,
        the
        inclusion of the Registrable Securities, when added to the securities being
        registered by the Company or the selling stockholder(s), will exceed the
        maximum
        amount of the Company's securities (the "Maximum Number of Shares") which
        can be
        marketed (i) at a price reasonably related to their then current market value,
        and (ii) without materially and adversely affecting the entire offering,
        then
        the Company shall include
        in any such registration:

      

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

       

      
        
          
          

        

        
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      (ii)
        If
        the registration is a "demand" registration undertaken at the demand of persons
        other than the holders of Registrable Securities pursuant to written contractual
        arrangements with such persons, (A) first, the shares of Common Stock for
        the
        account of the demanding persons that can be sold without exceeding the Maximum
        Number of Shares; (B) second, to the extent that the Maximum Number of Shares
        has not been reached under the foregoing clause (A), the shares of Common
        Stock
        or other securities that the Company desires to sell that can be sold without
        exceeding the Maximum Number of Shares; and (C) third, to the extent that
        the
        Maximum Number of Shares has not been reached under the foregoing clauses
        (A)
        and (B), the Registrable Securities as to which registration has been requested
        under this Section 5.2 (pro rata in accordance with the number of shares
        of
        Registrable Securities held by each such holder); and (D) fourth, to the
        extent
        that the Maximum Number of Shares has not been reached under the foregoing
        clauses (A), (B) and (C), the shares of Common Stock,
        if
        any, as to which registration has been requested pursuant to written contractual
        piggy-back registration rights which other shareholders desire to sell that
        can
        be sold without exceeding the Maximum Number of Shares.

       

      5.2.2
        Terms. The Company shall bear all fees and expenses attendant to registering
        the
        Registrable Securities, including the expenses of any legal counsel selected
        by
        the Holders to represent them in connection with the sale of the Registrable
        Securities but the Holders shall pay any and all underwriting commissions
        related to the Registrable Securities. In the event of such a proposed
        registration, the Company shall furnish the then Holders of outstanding
        Registrable Securities with not less than fifteen days written notice prior
        to
        the proposed date of filing of such registration statement.
        Such notice to the Holders shall continue to be given for each applicable
        registration statement filed (during the period in which the Purchase Option
        is
        exercisable) by the Company until such time as all of the Registrable Securities
        have been registered and sold. The holders of the Registrable Securities
        shall
        exercise the "piggy-back" rights provided for herein by giving written notice,
        within ten days of the receipt of the Company's notice of its intention to
        file
        a registration statement. The Company shall use its best efforts to cause
        any
        registration statement filed pursuant to the above "piggyback" rights to
        remain
        effective for at least nine months from the date that the Holders of the
        Registrable Securities are first given the opportunity to sell all of such
        securities. The Company agrees, at its sole expenses, to use its reasonable
        best
        efforts to qualify or register the Registrable Securities in such States
        as are
        reasonably requested by the Majority Holder(s); provided, however,
        that in no event shall the Company be required to register the Registrable
        Securities in a State in which such registration would cause (i) the Company
        to
        be obligated to qualify to do business in such State, or would subject the
        Company to taxation as a foreign corporation doing business in such jurisdiction
        or (ii) the principal stockholders of the Company to be obligated to escrow
        their shares of capital stock of the Company.

      

      5.3
        General Terms.

      

      5.3.1
        Indemnification. The Company shall indemnify the Holder(s) of the Registrable
        Securities to be sold pursuant to any registration statement hereunder and
        each
        person, if any, who controls such Holders within the meaning of Section 15
        of
        the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended
        (the
        "Exchange Act"), and any of their
        respective heirs, successors, permitted assigns and transfers, and agents
        and
        representatives, against all loss, claim, damage, expense or liability
        (including all reasonable attorneys' fees and other expenses reasonably incurred
        in investigating, preparing or defending against litigation, commenced or
        threatened, or any claim whatsoever whether arising out of any action between
        the underwriter and the Company or between the underwriter and any third
        party
        or otherwise) to which any of them may become subject under the Act, the
        Exchange Act or otherwise, arising from such registration statement but only
        to
        the same extent and with the same effect as the provisions pursuant to which
        the
        Company has agreed to indemnify the underwriters contained in Section 6 of
        the
        Underwriting Agreement between the Company, Maxim and the other underwriters
        named therein dated the Effective Date. The Holder(s) of the Registrable
        Securities to be sold pursuant to such registration statement, and their
        successors and assigns, shall severally, and not jointly, indemnify the Company,
        its officers and directors and each person, if any, who controls the Company
        within the meaning of Section 15 of the Act or Section 20(a) of the Exchange
        Act, against all loss, claim, damage, expense or liability (including all
        reasonable attorneys' fees and other expenses reasonably incurred in
        investigating, preparing or defending against any claim whatsoever) to which
        they may become subject under the Act, the Exchange Act or otherwise, arising
        from information furnished by or on behalf of such Holders, or their successors
        or assigns, in writing, for specific inclusion in such registration statement
        to
        the same extent and with the same effect as the provisions contained in Section
        5 of the Underwriting Agreement pursuant to which the underwriters have agreed
        to indemnify the Company.

       

      
        
          
          

        

        
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      5.3.2
        Exercise of Purchase Options. Nothing contained in this Purchase Option shall
        be
        construed as requiring the Holder(s) to exercise their Purchase Options or
        Warrants underlying such Purchase Options prior to or after the initial filing
        of any registration statement or the effectiveness thereof.

      

      5.3.3
        Documents Delivered to Holders. The Company shall furnish Maxim, as
        representative of the Holders participating in any of the foregoing offerings,
        a
        signed counterpart, addressed to the participating Holders, of (i) an opinion
        of
        counsel to the Company, dated the effective date of such registration statement
        (and, if such registration includes an underwritten public offering, an opinion
        dated the date of the closing under any underwriting agreement related thereto),
        and (ii) a "cold comfort" letter dated the effective date of such registration
        statement (and, if such registration includes an underwritten public offering,
        a
        letter dated the date of the closing under the underwriting agreement) signed
        by
        the independent public accountants who have issued a report on the Company's
        financial statements included in such registration statement, in each case
        covering substantially the same matters with respect to such registration
        statement (and the prospectus included therein) and, in the case of such
        accountants' letter, with respect to events subsequent to the date of such
        financial statements, as are customarily covered in opinions of issuer's
        counsel
        and in accountants' letters delivered to underwriters in underwritten public
        offerings of securities. The Company shall also deliver promptly to Maxim,
        as
        representative of the Holders participating in the offering, the correspondence
        and memoranda described below and copies of all correspondence between the
        Commission and the Company, its counsel or auditors and all memoranda relating
        to discussions with the Commission or its staff with respect to the registration
        statement and permit Maxim, as representative of the Holders, to do such
        investigation, upon reasonable advance notice, with respect to information
        contained in or omitted from the registration statement as it deems reasonably
        necessary to comply with applicable securities laws or rules of the National
        Association of Securities Dealers, Inc. (the "NASD"). Such investigation
        shall
        include access to books, records and properties and opportunities to discuss
        the
        business of the Company with its officers and independent auditors, all to
        such
        reasonable extent and at such reasonable times and as often as Maxim, as
        representative of the Holders, shall reasonably request. The Company shall
        not
        be required to disclose any confidential information or other records to
        Maxim,
        as representative of the Holders, or to any other person, until and unless
        such
        persons shall have entered into reasonable confidentiality agreements (in
        form
        and substance reasonably satisfactory to the Company), with the Company with
        respect thereto.

      

      5.3.4
        Underwriting Agreement. The Company shall enter into an underwriting agreement
        with the managing underwriter(s), if any, selected by any Holders whose
        Registrable Securities are being registered pursuant to this Section 5, which
        managing underwriter shall be reasonably acceptable to the Company. Such
        agreement shall be reasonably satisfactory in form and substance to the Company,
        each Holder and such managing underwriters, and shall contain such
        representations, warranties and covenants by the Company and such other terms
        as
        are customarily contained in agreements of that type used
        by
        the managing underwriter. The Holders shall be parties to any underwriting
        agreement relating to an underwritten sale of their Registrable Securities
        and
        may, at their option, require that any or all the representations, warranties
        and covenants of the Company to or for the benefit of such underwriters shall
        also be made to and for the benefit of such Holders. Such
        Holders shall not be required to make any representations or warranties to
        or
        agreements with the Company or the underwriters except as they may relate
        to
        such Holders and their intended methods of distribution. Such Holders, however,
        shall
        agree to such covenants and indemnification and contribution obligations
        for
        selling stockholders as are customarily contained in agreements of that type
        used by the managing underwriter. Further, such Holders shall execute
        appropriate custody agreements and otherwise cooperate fully in the preparation
        of the registration statement and other documents relating to any offering
        in
        which they include securities pursuant to this Section 5. Each Holder shall
        also
        furnish to the Company such information regarding itself, the Registrable
        Securities held by it, and the intended method of disposition of such securities
        as shall be reasonably required to effect the registration of the Registrable
        Securities.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

      5.3.5
        Rule 144 Sale. Notwithstanding anything contained in this Section 5 to the
        contrary, the Company shall have no obligation pursuant to Sections 5.1 or
        5.2
        to use its best efforts to obtain the registration of Registrable Securities
        held by any Holder (i) where such Holder would then be entitled to sell under
        Rule 144 within any three month period (or such other period prescribed under
        Rule 144 as may be provided by amendment thereof) all of the Registrable
        Securities held by such Holder, and (ii) where the number of Registrable
        Securities held by such Holder is within the volume limitations
        under paragraph (e) of Rule 144 (calculated as if such Holder were an affiliate
        within the meaning of Rule 144).

      

      5.3.6
        Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice
        from the Company of the happening of any event as a result of which the
        prospectus included in the Registration Statement, as then in effect, includes
        an untrue statement of a material fact or omits to state a material fact
        required to be stated therein or necessary to make the statements therein
        not
        misleading in light of the circumstances then existing, such Holder will
        immediately discontinue disposition of Registrable Securities pursuant to
        the
        Registration Statement covering such Registrable Securities until
        such Holder's receipt of the copies of a supplemental or amended prospectus,
        and, if so desired by the Company, such Holder shall deliver to the Company
        (at
        the expense of the Company) or destroy (and deliver to the Company a certificate
        of such destruction) all copies, other than permanent file copies then in
        such
        Holder's possession, of the prospectus covering such Registrable Securities
        current at the time of receipt of such notice.

      

      6.
        Adjustments.

      

      6.1
        Adjustments to Exercise Price and Number of Securities. The Exercise Price
        and
        the number of Units underlying the Purchase Option shall be subject to
        adjustment from time to time as hereinafter set forth:

      

      6.1.1
        Stock Dividends - Split-Ups. If after the date hereof, and subject to the
        provisions of Section 6.4 below, the number of outstanding shares of Common
        Stock is increased by a stock dividend payable in shares of Common Stock
        or by a
        split-up of shares of Common Stock or other similar event, then, on the
        effective date thereof, the number of shares of Common Stock underlying each
        of
        the Units purchasable hereunder shall be increased in proportion to such
        increase in outstanding shares. In such case, the number of shares of Common
        Stock, and the exercise price applicable thereto, underlying the Warrants
        underlying each of the Units purchasable hereunder shall be adjusted in
        accordance with the terms of the Warrants. For example, if the Company declares
        a two-for-one stock dividend and at the time of such dividend this
        Purchase Option is for the purchase of one Unit at $8.80 per whole Unit (the
        Warrant underlying the Unit is exercisable for $6.00 per share), upon
        effectiveness of the dividend, this Purchase Option will be adjusted to allow
        for the purchase of one Unit at $8.80 per Unit, each Unit entitling the holder
        to receive two shares of Common Stock and two Warrants (each Warrant exercisable
        for $3.00 per share).

      

      6.1.2
        Aggregation of Shares. If after the date hereof, and subject to the provisions
        of Section 6.4, the number of outstanding shares of Common Stock is decreased
        by
        a consolidation, combination or reclassification of shares of Common Stock
        or
        other similar event, then, on the effective date thereof, the number of shares
        of Common Stock underlying each of the Units purchasable hereunder shall
        be
        decreased in proportion to such decrease in outstanding shares. In such case,
        the number of shares of Common Stock, and the exercise price applicable thereto,
        underlying the Warrants underlying each of the Units purchasable hereunder
        shall
        be adjusted in accordance with the terms of the Warrants.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

      6.1.3
        Replacement of Securities upon Reorganization,etc. In case of any
        reclassification or reorganization of the outstanding shares of Common Stock
        other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely
        affects the par value of such shares of Common Stock, or in the case of any
        merger or consolidation of the Company with or into another corporation (other
        than a consolidation or merger in which the Company is the continuing
        corporation and that does not result in any reclassification or reorganization
        of the outstanding shares of Common Stock), or in the case of any sale or
        conveyance
        to another corporation or entity of the property of the Company as an entirety
        or substantially as an entirety in connection with which the Company is
        dissolved, the Holder of this Purchase Option shall have the right thereafter
        (until
        the expiration of the right of exercise of this Purchase Option) to receive
        upon
        the exercise hereof, for the same aggregate Exercise Price payable hereunder
        immediately prior to such event, the kind and amount of shares of stock or
        other
        securities or property (including cash) receivable upon such reclassification,
        reorganization, merger or consolidation, or upon a dissolution following
        any
        such sale or transfer, by a Holder of the number of shares of Common Stock
        of
        the Company obtainable upon exercise of this Purchase Option and the underlying
        Warrants immediately prior to such event; and if any reclassification
        also results in a change in shares of Common Stock covered by Section 6.1.1
        or
        6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2
        and
        this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly
        apply
        to successive reclassifications, reorganizations, mergers or consolidations,
        sales or other transfers.

      

      6.1.4
        Changes in Form of Purchase Option. This form of Purchase Option need not
        be
        changed because of any change pursuant to this Section, and Purchase Options
        issued after such change may state the same Exercise Price and the same number
        of Units as are stated in the Purchase Options initially issued pursuant
        to this
        Agreement. The acceptance by any Holder of the issuance of new Purchase Options
        reflecting a required or permissive change shall not be deemed to waive any
        rights to an adjustment occurring after the Commencement Date or the computation
        thereof.

      

      6.2
        Substitute Purchase Option. In case of any consolidation of the Company with,
        or
        merger of the Company with, or merger of the Company into, another corporation
        (other than a consolidation or merger which does not result in any
        reclassification or change of the outstanding Common Stock), the corporation
        formed by such consolidation or merger shall execute and deliver to the Holder
        a
        supplemental Purchase Option providing that the holder of each Purchase Option
        then outstanding or to be outstanding shall have the right thereafter (until
        the
        stated expiration of such Purchase Option) to receive, upon exercise of such
        Purchase Option, the kind and amount of shares of stock and other securities
        and
        property receivable upon such consolidation or merger, by a holder of the
        number
        of shares of Common Stock of the Company for which such Purchase Option might
        have been exercised immediately prior to such consolidation, merger, sale
        or
        transfer. Such supplemental Purchase Option shall provide for adjustments
        which
        shall be identical to the adjustments provided in Section
        6. The above provision of this Section shall similarly apply to successive
        consolidations or mergers.

      

      6.3
        Elimination of Fractional Interests. The Company shall not be required to
        issue
        certificates representing fractions of shares of Common Stock or Warrants
        upon
        the exercise of the Purchase Option, nor shall it be required to issue scrip
        or
        pay cash in lieu of any fractional interests, it being the intent of the
        parties
        that all fractional interests shall be

      eliminated
        by rounding any fraction up or down to the nearest whole number of Warrants,
        shares of Common Stock or other securities, properties or rights.

      

      7.
        Reservation and Listing. The Company shall at all times reserve and keep
        available out of its authorized shares of Common Stock, solely for the purpose
        of issuance upon exercise of the Purchase Options or the Warrants underlying
        the
        Purchase Option, such number of shares of Common Stock or other securities,
        properties or rights as shall be issuable upon the exercise thereof. The
        Company
        covenants and agrees that, upon exercise of the Purchase Options and payment
        of
        the Exercise Price therefor, all shares of Common Stock and other securities
        issuable upon such exercise shall be duly and validly issued, fully paid
        and
        non-assessable and not subject to preemptive rights of any stockholder. The
        Company further covenants and agrees that upon exercise of the Warrants
        underlying the Purchase Options and payment of the respective Warrant exercise
        price therefor, all shares of Common Stock and other securities issuable
        upon
        such exercise shall be duly and validly issued, fully paid and non-assessable
        and not subject to preemptive rights of any stockholder. As long as the Purchase
        Options shall be outstanding, the Company shall use its best efforts to cause
        all (i) Units and shares of Common Stock issuable upon exercise of the Purchase
        Options, (ii) Warrants issuable upon exercise of the Purchase Options and
        (iii)
shares
        of
        Common Stock issuable upon exercise of the Warrants included in the Units
        issuable upon exercise of the Purchase Option to be listed (subject to official
        notice of issuance) on all securities exchanges (or, if applicable on the
        Nasdaq
        Global Select Market, Nasdaq Global Market, Nasdaq Capital Market, OTC Bulletin
        Board or any successor trading market) on which the Units, the Common Stock
        or
        the Warrants may then be listed and/or quoted.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      8.
        Certain Notice Requirements.

      

      8.1
        Holder's Right to Receive Notice. Nothing herein shall be construed as
        conferring upon the Holders the right to vote or consent as a stockholder
        for
        the election of directors or any other matter, or as having any rights
        whatsoever as a stockholder of the Company. If, however, at any time prior
        to
        the expiration of the Purchase Options and their exercise, any of the events
        described in Section 8.2 shall occur, then, in one or more of said events,
        the
        Company shall give written notice of such event at least fifteen days prior
        to
        the date fixed as a record date or the date of closing the transfer books
        for
        the determination of the stockholders entitled to such dividend, distribution,
        conversion or exchange of securities or subscription rights,
        or entitled to vote on such proposed dissolution, liquidation, winding up
        or
        sale. Such notice shall specify such record date or the date of the closing
        of
        the transfer books, as the case may be. Notwithstanding the foregoing, the
        Company shall deliver to each Holder a copy of each notice given to the other
        stockholders of the Company at the same time and in the same manner that
        such
        notice is given to the stockholders.

      

      8.2
        Events Requiring Notice. The Company shall be required to give the notice
        described in this Section 8 upon one or more of the following events: (i)
        if the
        Company shall take a record of the holders of its shares of Common Stock
        for the
        purpose of entitling them to receive a dividend or distribution, or (ii)
        the
        Company shall offer to all the holders of its Common Stock any additional
        shares
        of capital stock of the Company or securities convertible into or exchangeable
        for shares of capital stock of the Company, or any option, right or warrant
        to
        subscribe therefor, or (iii) a dissolution, liquidation or winding up of
        the
        Company (other than in connection with a consolidation or merger) or a sale
        of
        all or substantially all of its property, assets and business or a merger
        of the
        Company wherein the separate existence of the Company shall cease shall be
        proposed.

      

      8.3
        Notice of Change in Exercise Price. The Company shall, promptly after an
        event
        requiring a change in the Exercise Price pursuant to Section 6 hereof, send
        notice to the Holders of such event and change (a "Price Notice"). The Price
        Notice shall describe the event causing the change and the method of calculating
        same and shall be certified as being true and accurate by the Company's
        President and Chief Financial Officer.

      

      8.4
        Transmittal of Notices. All notices, requests, consents and other communications
        under this Purchase Option shall be in writing and shall be deemed to have
        been
        duly made when hand delivered, mailed by express mail or private courier
        service, or sent by facsimile transmission, with confirmation of receipt:
        (i) If
        to the registered Holder of the Purchase Option, to the address and/or fax
        number of such Holder as shown on the books of the Company, or (ii) if to
        the
        Company, to the following address or fax number or to such other address
        or and
        fax number as the Company may designate by notice to

      the
        Holders:

      

      Pinpoint
        Advance Corp.

      4
        Maskit
        Street

      Herzeliya,
        Israel 46700

      Attn:
        Adiv Baruch, Chief Executive Officer

      Fax
        No.:
        ________________

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

      9.
        Miscellaneous.

      

      9.1
        Amendments. The Company and Maxim may from time to time supplement or amend
        this
        Purchase Option without the approval of any of the Holders in order to cure
        any
        ambiguity, to correct or supplement any provision contained herein that may
        be
        defective or inconsistent with any other provisions herein, or to make any
        other
        provisions in regard to matters or questions arising hereunder that the Company
        and Maxim may deem necessary or desirable and that the Company and Maxim
        deem
        shall not adversely affect the interest of the Holders. All other modifications
        or amendments shall require the written consent of and be signed by the party
        against whom enforcement of the modification or amendment is
        sought.

      

      9.2
        Headings. The headings contained herein are for the sole purpose of convenience
        of reference, and shall not in any way limit or affect the meaning or
        interpretation of any of the terms or provisions of this Purchase
        Option.

      

      10.
        Entire Agreement. This Purchase Option (together with the other agreements
        and
        documents being delivered pursuant to or in connection with this Purchase
        Option) constitutes the entire agreement of the parties hereto with respect
        to
        the subject matter hereof, and supersedes all prior agreements and
        understandings of the parties, oral and written, with respect to the subject
        matter hereof.

      

      10.1
        Binding Effect. This Purchase Option shall inure solely to the benefit of
        and
        shall be binding upon, the Holder and the Company and their permitted assignees,
        respective successors, legal representative and assigns, and no other person
        shall have or be construed to have any legal or equitable right, remedy or
        claim
        under or in respect of or by virtue of this Purchase Option or any provisions
        herein contained.

      

      10.2
        Governing Law; Submission to Jurisdiction. This Purchase Option shall be
        governed by and construed and enforced in accordance with the laws of the
        State
        of New York, without giving effect to conflict of laws. Each of the Company
        and
        Maxim agree that any action, proceeding or claim against it arising out of,
        or
        relating in any way to this Purchase Option shall be brought and enforced
        in the
        courts of the State of New York located in New York County or of the United
        States of America for the Southern District of New York, and irrevocably
        submits
        to such jurisdiction, which jurisdiction shall be exclusive. Each of the
        Company
        and Maxim hereby waives any objection to such exclusive jurisdiction and
        that
        such courts represent an inconvenient forum. Any process or summons to be
        served
        upon the Company may be served by transmitting a copy thereof by registered
        or
        certified mail, return receipt requested, postage prepaid, addressed to it
        at
        the address set forth in Section 8 hereof. Such mailing shall be deemed personal
        service and shall be legal and binding upon the Company in any action,
        proceeding or claim. The Company and the Holder agree that the prevailing
        party(ies) in any such action shall be entitled to recover from the other
        party(ies) all of its reasonable attorneys' fees and expenses relating to
        such
        action or proceeding and/or incurred in connection with the preparation
        therefor.

      

      10.3
        Waiver, Etc. The failure of the Company or the Holder to at any time enforce
        any
        of the provisions of this Purchase Option shall not be deemed or construed
        to be
        a waiver of any such provision, nor to in any way affect the validity of
        this
        Purchase Option or any provision hereof or the right of the Company or any
        Holder to thereafter enforce each and every provision of this Purchase Option.
        No waiver of any breach, non-compliance or non-fulfillment of any of the
        provisions of this Purchase Option shall be effective unless set forth in
        a
        written instrument executed by the party or parties against whom or which
        enforcement of such waiver is sought; and no waiver of any such breach,
        non-compliance or non-fulfillment shall be construed or deemed to be a waiver
        of
        any other or subsequent breach, non-compliance or
        non-fulfillment.

      

      10.4
        Execution in Counterparts. This Purchase Option may be executed in one or
        more
        counterparts, and by the different parties hereto in separate counterparts,
        each
        of which shall be deemed to be an original, but all of which taken together
        shall constitute one and the same agreement, and shall become effective when
        one
        or more counterparts has been signed by each of the parties hereto and delivered
        to each of the other parties hereto.

      

      10.5
        Exchange Agreement. As a condition of the Holder's receipt and acceptance
        of
        this Purchase Option, Holder agrees that, at any time prior to the complete
        exercise of this Purchase Option by Holder, if the Company and Maxim enter
        into
        an agreement (an "Exchange Agreement") pursuant to which they agree that
        all
        outstanding Purchase Options will be exchanged for securities or cash or
        a
        combination of both, then Holder shall agree to such exchange and become
        a party
        to the Exchange Agreement.

      

      [Remainder
        of Page Intentionally Left Blank]

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Company has caused this Purchase Option to be signed
        by its
        duly authorized officer as of the ___ day of __________, 2007.

      
        	 	 	 
	 	PINPOINT
                ADVANCE
                CORP.
	 
 	 
 	 
 
	
              	By:  	
              
	 	
                
Name:
                Adiv Baruch
                Title:
                  Chief Executive Officer

              

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      Form
        to
        be used to exercise Purchase Option

      

      Pinpoint
        Advance Corp.

      4
        Maskit
        Street

      Herzeliya,
        Israel 46700

      

      Date:_________________,
        200__

      

      The
        undersigned hereby elects irrevocably to exercise all or a portion of the
        within
        Purchase Option and to purchase ____ Units of Pinpoint Advance Corp. and
        hereby
        makes payment of $____________ (at the rate of $_________ per Unit) in payment
        of the Exercise Price pursuant thereto. Please issue the Common Stock and
        Warrants as to which this Purchase Option is exercised in accordance with
        the
        instructions given below.

      

      or

      

      The
        undersigned hereby elects irrevocably to convert its right to purchase _________
        Units purchasable under the within Purchase Option by surrender of the
        unexercised portion of the attached Purchase Option (with a "Value" based
        of
        $_______ based on a "Market Price" of $_______). Please issue the securities
        comprising the Units as to which this Purchase Option is exercised in accordance
        with the instructions given below.

      
        	 	 	 	 
	
              	 	 	
              
	
              	 	 	
                
Signature
	 	 	 	 
	 	 	 	 
	
              	 	 	
                
Signature
                Guaranteed

      

       

      INSTRUCTIONS
        FOR REGISTRATION OF SECURITIES

      

      

      Name_____________________________________________________________

          (Print
        in
        Block Letters)

      

      Address___________________________________________________________

      

      NOTICE:
        THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
        THE
        FACE
        OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR WITHOUT ALTERATION OR
ENLARGEMENT
        OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN
        A
        SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A
REGISTERED
        NATIONAL SECURITIES EXCHANGE.

      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      Form
        to
        be used to assign Purchase Option

      

      ASSIGNMENT

      

      (To
        be
        executed by the registered Holder to effect a transfer of the within Purchase
        Option):

      

      FOR
        VALUE
        RECEIVED,___________________________________________ does hereby sell, assign
        and transfer unto______________________________________ the right to purchase
        __________ Units of Pinpoint Advance Corp. (the "Company") evidenced by the
        within Purchase Option and does hereby authorize the Company to transfer
        such
        right on the books of the Company.

      

      Dated:___________________,
        200_

      
        
          	 	 	 	 
	
                	 	 	
                
	
                	 	 	
                  
Signature
	 	 	 	 
	 	 	 	 
	
                	 	 	
                  
Signature
                  Guaranteed

        

         

      

      NOTICE:
        THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
        THE
        FACE
        OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR WITHOUT ALTERATION OR
ENLARGEMENT
        OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN
        A
        SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A
REGISTERED
        NATIONAL SECURITIES EXCHANGE.

      

      
        
          
          

        

        
          13Exhibit
      10.1.1

    February
      15, 2007 

    

    Pinpoint
      Advance Corp.

    4
      Maskit
      Street

    Herzeliya,
      Israel 46700 

    

    Maxim
      Group LLC 

    405
      Lexington Avenue 

    New
      York,
      New York 10174 

    

    
      	
            	Re:	
              Pinpoint
                Advance Corp. (the “Company”)

            

    

    

    Gentlemen:
      

    

    The
      undersigned, in consideration of Maxim Group LLC (“Maxim”)
      entering into a letter of intent (the “Letter
      of Intent”)
      to
      underwrite an initial public offering (the “IPO”)
      of the
      securities of the Company and embarking on, undertaking and continuing to
      participate in the IPO process, hereby agrees as follows (certain capitalized
      terms used herein are defined in paragraph XII hereof): 

    

    I. (1) In
      the
      event the Company fails to consummate a Business Combination within 18 months
      from the effective date (the “Effective
      Date”)
      of the
      registration statement relating to the IPO, or 24 months from the Effective
      Date
      under the circumstances described in the prospectus relating to the IPO (such
      later date being the “Termination
      Date”),
      the
      undersigned shall, in accordance with all applicable requirements of the
      Delaware General Corporation Law (the “DGCL”),
      take
      all action reasonably within his power to dissolve the Company and distribute
      all funds held in the Trust Account to holders of IPO Shares as soon as
      reasonably practicable following the approval by the Company’s stockholders of
      the Company’s dissolution, including, without limitation: (i) causing the
      Company’s board of directors to convene and adopt a plan of dissolution and
      liquidation; (ii) voting, as a director (if applicable), in favor of adopting
      such plan of dissolution and liquidation; (iii) following any such adoption
      by
      the Company’s board of directors, causing the Company to prepare and file a
      proxy statement with the Securities and Exchange Commission (the “SEC”)
      setting out, and calling for, a vote by the Company’s stockholders in favor of
      the plan of dissolution and liquidation; and (iv) voting, as a stockholder,
      all
      of the undersigned’s voting securities of the Company in favor of any such plan
      of dissolution and liquidation. 

    

    (2) If
      the
      Company seeks approval from its stockholders to consummate a Business
      Combination within 90 days of the expiration of 24 months from the Effective
      Date, the undersigned agrees to take all such action reasonably within its
      power
      as is necessary to ensure that the proxy statement related to such Business
      Combination will seek stockholder approval for the plan of dissolution and
      distribution in the event the stockholders do not approve the Business
      Combination. 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (3) If
      no
      proxy statement seeking the approval of the stockholders for a Business
      Combination has been filed within 30 days prior to the date which is 24 months
      from the date of the IPO, the undersigned agrees to take, prior to such date,
      all such action reasonably within its power as is necessary to convene and
      adopt
      a plan of dissolution and distribution and file a proxy statement with the
      SEC
      seeking stockholder approval for such plan. 

    

    (4) Except
      with respect to any of the IPO Shares acquired by the undersigned in connection
      with or following the IPO, the undersigned hereby (a) waives any and all right,
      title, interest or claim of any kind (the “Claim”) in or to all funds in the
      Trust Account and any remaining net assets of the Company upon liquidation
      of
      the Trust Account and dissolution of the Company, (b) waives any Claim the
      undersigned may have in the future as a result of, or arising out of, any
      contracts or agreements with the Company and (c) agrees the undersigned will
      not
      seek recourse against the Trust Account for any reason whatsoever.

    

    II. In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity, any suitable
      opportunity to acquire an operating business, until the earlier of (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) such time as the undersigned ceases to be a director of
      the
      Company, subject to any pre-existing fiduciary and contractual obligations
      the
      undersigned might have. 

    

    III. The
      undersigned acknowledges and agrees the Company will not consummate any Business
      Combination which involves a company which is affiliated with any of the
      Insiders. 

    

    IV. (1) Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      of the undersigned (“Affiliate”)
      will
      be entitled to receive, and no such person will accept, any compensation for
      services rendered to the Company prior to the consummation of a Business
      Combination, only (a) from funds not held in the Trust Account or (b) upon
      the
      consummation of a Business Combination. 

    

    (2) The
      undersigned shall be entitled to reimbursement from the Company for his
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination. 

    

    V. Neither
      the undersigned, any member of the family of the undersigned, nor any Affiliate
      will be entitled to receive or accept a finder’s fee or any other compensation
      in the event the undersigned, any member of the family of the undersigned or
      any
      Affiliate originates a Business Combination. 

    

    VI. (1) The
      undersigned agrees to be a director of the Company until the earlier of the
      consummation of a Business Combination or the dissolution of the Company. The
      undersigned agrees to not resign (or advise the Board that the undersigned
      declines to seek re-election to the Board of Directors) from his position as
      director of the Company as set forth in the Registration Statement without
      the
      prior consent of Maxim until the earlier of the consummation by the Company
      of a
      Business Combination, liquidation of the Trust Account, or the dissolution
      of
      the Company. The undersigned acknowledges the foregoing does not interfere
      with
      or limit in any way the right of the Company to terminate the undersigned’s
      employment at any time (subject to other contractual rights the undersigned
      may
      have) nor confer upon the undersigned any right to continue in the employ of
      Company. 

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    (2) The
      undersigned’s biographical information furnished to the Company and Maxim and
      attached hereto as Exhibit A is true and accurate in all respects, does not
      omit
      any material information with respect to the undersigned’s background and
      contains all of the information required to be disclosed pursuant to Item 401
      of
      Regulation S-K, promulgated under the Securities Act of 1933, as amended (the
      “Securities
      Act”).
      The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above.

    

    (3) The
      undersigned represents and warrants: 

    

    (a) he
      is not
      subject to or a respondent in any legal action for, any injunction relating
      to,
      or any cease-and-desist order or order or stipulation to desist or refrain
      from
      any act or practice relating to the offering of securities in any jurisdiction;
      

    

    (b) he
      has
      never been convicted of or pleaded guilty to any crime (i) involving any fraud
      or (ii) relating to any financial transaction or handling of funds of another
      person, or (iii) pertaining to any dealings in any securities, and he is not
      currently a defendant in any such criminal proceeding; and

    

    (c) he
      has
      never been suspended or expelled from membership in any securities or
      commodities exchange or association or had a securities or commodities license
      or registration denied, suspended or revoked. 

    

    VII. The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as a director
      of
      the Company.

    

    VIII. The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Maxim and its legal representatives or agents
      (including any investigative search firm retained by Maxim) any information
      they
      may have about the undersigned’s background and finances (“Information”).
      Neither Maxim nor its agents shall be violating the undersigned’s right of
      privacy in any manner in requesting and obtaining the Information and the
      undersigned hereby releases them from liability for any damage whatsoever in
      that connection. 

    

    IX. In
      connection with the vote required to consummate a Business Combination, the
      undersigned agrees that he will vote all shares of common stock, par value
      $.0001 per share (the “Common
      Stock”)
      (i)
      owned by him (either directly or indirectly) prior to the IPO (the “Insider
      Shares”)
      in
      accordance with the majority of the votes cast by the holders of the IPO Shares
      and (ii) purchased by him in or following the IPO “for” a Business Combination.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    X. The
      undersigned will escrow his Insider Shares, if any, for the period commencing
      on
      the Effective Date and ending on the third anniversary of the Effective Date,
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

    XI. The
      undersigned agrees to indemnify and hold harmless the Company, equally with
      Ronen Zadok and Yaron Schwalb, against any and all claims to which the Company
      may become subject as a result of any claim by any creditor that is owed money
      by the Company but only to the extent the Company fails to obtain valid and
      enforceable waivers from such entities in order to protect the amount in the
      Trust Account.

    

    XII. This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby: (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a “Proceeding”)
      shall
      be brought and enforced in the federal courts of the United States of America
      for the Southern District of New York, and irrevocably submits to the
      jurisdiction of such courts, which jurisdiction shall be exclusive, (ii) waives
      any objection to the exclusive jurisdiction of such courts and any objection
      that such courts represent an inconvenient forum and (iii) irrevocably agrees
      to
      appoint Ellenoff Grossman & Schole LLP as agent for the service of process
      in the State of New York to receive, for the undersigned and on his behalf,
      service of process in any Proceeding. If for any reason such agent is unable
      to
      act as such, the undersigned will promptly notify the Company and Maxim and
      appoint a substitute agent acceptable to each of the Company and Maxim within
      30
      days and nothing in this letter will affect the right of either party to serve
      process in any other manner permitted by law.

    

    XIII. As
      used
      herein, (i) a “Business
      Combination”
shall
      mean an acquisition by the Company, by merger, capital stock exchange, asset
      or
      stock acquisition, reorganization or otherwise, of an operating business or
      businesses with operations or facilities within Israel, or with operations
      in
      Europe that management believes would benefit from establishing operations
      or
      facilities in Israel; (ii) “Insiders”
shall
      mean all officers, directors and stockholders of the Company immediately prior
      to the IPO; (iii) “IPO
      Shares”
shall
      mean the shares of Common Stock issued in the Company’s IPO; and (iv)
“Trust
      Account”
shall
      mean the trust account in which most of the proceeds to the Company of the
      IPO
      will be deposited and held for the benefit of the holders of the IPO shares,
      as
      described in greater detail in the prospectus relating to the IPO.

    

    XIV. This
      letter agreement shall supersede any other letter agreement signed by the
      undersigned with respect to the subject matter hereof. 

    

    [Signature
      Page to Follow]

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
 

    
      	 	
              Very
                truly yours,

              

              
                /s/
                  Adiv Baruch

              

              
                
Adiv
                Baruch

            

    

    
       

      
         

      

      
        5

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    [biography]

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