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 OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL
TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE
HUNDRED EIGHTY DAYS FOLLOWING THE EFFECTIVE DATE (AS DEFINED HEREIN) TO ANYONE OTHER THAN TO (I) CANTOR FITZGERALD &
CO.1 (“CANTOR”) OR AN
UNDERWRITER OR SELECTED DEALER PARTICIPATING IN THE OFFERING OR (II) AN OFFICER OR PARTNER OF CANTOR OR OF ANY SUCH
UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(G)(2).

 

THIS
PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF THE CONSUMMATION BY E-COMPASS ACQUISITION CORP. (“COMPANY”)
OF A MERGER, CAPITAL SHARE EXCHANGE, ASSET ACQUISITION, PLAN OF ARRANGEMENT, RECAPITALIZATION, REORGANIZATION OR OTHER SIMILAR
BUSINESS COMBINATION (“BUSINESS COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION
STATEMENT (AS DEFINED HEREIN)) AND [__], 2016. VOID AFTER 5:00 P.M. NEW YORK CITY LOCAL TIME, ON THE EXPIRATION DATE (AS DEFINED
HEREIN).

 

UNIT
PURCHASE OPTION

 

FOR
THE PURCHASE OF

 

_______
UNITS

 

OF

 

e-COMPASS
acquisition corp.

 

1.          Purchase
Option.

 

THIS
CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of ________ (the “Holder”), as
registered owner of this purchase option (this “Purchase Option”), to E-compass Acquisition Corp.,
the Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or
[__], 2016 (the “Commencement Date”), and at or before 5:00 p.m., New York City local time, on the
five year anniversary of the effective date (the “Effective Date”) of the Company’s
registration statement (the “Registration Statement”) pursuant to which Units (as defined herein)
are offered for sale to the public (the “Offering”), but not thereafter (the
“Expiration Date”), to subscribe for, purchase and receive, in whole or in part, up to _______
(______) units (the “Units”) of the Company, each Unit consisting of one ordinary share of the
Company, par value $0.0001 per share (the “Ordinary Shares”) and one right to receive
one-tenth (1/10) of an Ordinary Share (the “Rights”). Each Right is the same as the rights
included in the Units being registered for sale to the public by way of the Registration Statement (the “Public
Rights”). 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 beginning on the date hereof and ending on the Expiration Date, the Company agrees not to take any action
that would terminate or otherwise modify this Purchase Option. This Purchase Option is initially exercisable at $10.00 per
Unit; 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 Ordinary Shares and Rights) to be
received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price”
shall mean the initial exercise price for the Units or the adjusted exercise price for the Units, depending on the
context.

 

 

1
[Confirm the exact entity to receive the option prior to closing.]

 

    	 

    	 

    

 

2.          Exercise.

 

2.1          Exercise
Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed, 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. Upon conversion of a Unit into its constituent parts, any Rights issuable pursuant
to such Unit shall be deemed to have been converted into Ordinary Shares, and such underlying Ordinary Shares shall be issued
in lieu of any Rights. If the subscription rights represented hereby shall not be exercised in full at or before 5:00 p.m., New
York City local time, on the Expiration Date, this Purchase Option, or the portion thereof which has not been exercised prior
to such date, as applicable, 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 (the “Act”)
or applicable state law. The securities may not be offered for sale, sold or otherwise transferred 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.

 

2.3.1          Determination
of Amount. 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 Ordinary Shares and Rights, 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 (“Cashless Exercise Right”) as follows: upon exercise of the Cashless Exercise Right, the Company
shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of Units (or that
number of Ordinary Shares and Rights comprising that number of Units) equal to the quotient obtained by dividing (x) the Value
(as defined below) of the portion of this Purchase Option being converted by (y) the Current Market Value (as defined below).
As used herein, the “Value” of the portion of this 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
this Purchase Option being converted. As used herein, the term “Current Market Value” of a Unit at any
date means the product of (i) the Current Market Price (as defined below) of the Ordinary Shares multiplied by (ii) the number
of Ordinary Shares underlying one Unit, which shall include the Ordinary Shares issuable upon conversion of the Right included
in such Unit. As used herein, the term “Current Market Price” means (i) if the Ordinary Shares are listed
on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported closing price
of the Ordinary Shares in the principal trading market for the Ordinary Share as reported by the applicable exchange, Nasdaq or
FINRA, as the case may be, for the five trading days ending three trading days preceding the date in question; (ii) if the Ordinary
Shares are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but are traded
in the residual over-the-counter market, the average reported last sale price for the Ordinary Share for the five trading days
ending three trading days preceding the date in question for which such quotations are reported by the OTC Markets Group Inc.
or similar publisher of such quotations; and (iii) if the fair market value of the Ordinary Shares cannot be determined pursuant
to clause (i) or (ii) above, such price as shall be mutually agreed by the Company and the Holder.

 

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2.3.2          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 this 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.

 

2.4          No
Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will
the Company be required to net cash settle the exercise of this Purchase Option or the conversion of the Rights included in the
Units underlying this Purchase Option. The Holder will not be entitled to exercise this Purchase Option or convert the Rights
included in the Units underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless Exercise
Right, a registration statement of the Company is then currently effective, or an exemption from the registration requirements
of the Act is available at such time and, if the Holder is not able to exercise this Purchase Option or convert the Rights included
in the Units underlying this Purchase Option, this Purchase Option and/or the Rights included in the Units underlying this Purchase
Option, as applicable, will expire worthless.

 

3.          Transfer,
Assignment, Pledge, Hypothecation, Hedging, Short Sale, Derivative, Put and Call.

 

3.1          General
Restrictions. The Holder, by its acceptance hereof, agrees that it will not sell, transfer, assign, pledge or hypothecate this Purchase
Option (or the Units, Ordinary Shares and Rights underlying this Purchase Option), or cause the Purchase Option (or the Units,
Ordinary Shares and Rights underlying this Purchase Option) to be the subject of any hedging, short sale, derivative, put, or
call transaction that would result in the effective economic disposition of the Purchase Option by any person, for a period of 180
days (pursuant to Rule 5110(g)(1) of the Conduct Rules of FINRA) following the Effective Date to anyone other than (i) Cantor
or an underwriter or selected dealer in connection with the Offering, or (ii) an officer or partner of Cantor or of any such
underwriter or selected dealer. Upon the expiration of such 180 day period, 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 this Purchase Option and shall pay all
transfer taxes, if any, payable in connection therewith. The Company shall within five (5) business days thereafter transfer this
Purchase Option on the books and records 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.

 

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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 Loeb & Loeb 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 (the
“Commission”) and compliance with applicable state securities law has been established to the reasonable
satisfaction of the Company.

 

4.          New
Purchase Option 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 to the
Company for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise
Price (except to the extent that the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided
in Section 2.3 above) and/or transfer tax, the Company shall cause to be delivered to the Holder or the assignee(s), as applicable,
without charge a new purchase option of like tenor to this Purchase Option in the name of the Holder or such assignee(s), as applicable,
evidencing the right of the Holder or such assignee(s), as applicable, to purchase the number of Units purchasable hereunder as
to which this Purchase Option has not been exercised or has been assigned, as applicable.

 

4.2          Lost
Certificate. Upon receipt by the Company of evidence reasonably 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.

 

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5.          Registration
Rights.

 

5.1          Demand
Registration.

 

5.1.1          Grant
of Right. The Company, upon written demand (“Initial Demand Notice”) of the Holder or, if the Holder
has transferred, sold or assigned any portion of this Purchase Option, holders of at least 51% of the Units underlying this Purchase
Option and/or the underlying securities of such Units (“Majority Holders”), agrees to use its best efforts
to register (the “Demand Registration”) under the Act on one (1) occasion all or any portion of the
securities underlying this Purchase Option, including the Units, Ordinary Shares, the Rights and the Ordinary Shares issuable
upon conversion of the Rights, and any securities issued or issuable in lieu of the foregoing (collectively, the “Registrable
Securities”) as requested by the Majority Holders in the Initial Demand Notice. 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 (60) 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 Registration
may be made by the Majority Holders at any time during the five (5) year period 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. To the extent the Holder has assigned, transferred or sold any portion of this Purchase Option, the Company will notify
all other holders of the Registrable Securities of the demand within ten (10) 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 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 5.1.4. The Company shall not be obligated to effect more than one (1) Demand Registration
under this Section 5.1 in respect of all Registrable Securities.

 

5.1.2          Effective
Registration. A registration will not count as a Demand Registration until the registration statement filed with the Commission
with respect to such Demand Registration has been declared effective and the Company has complied with all of its obligations
under this Agreement with respect thereto.

 

5.1.3          Underwritten
Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice, the
offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering.
In such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned upon such
holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities in the underwriting
to the extent provided herein. All Demanding Holders proposing to distribute their securities through such underwriting shall
enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by
the Majority Holders.

 

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5.1.4          Reduction
of Offering. If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering
advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company
desires to sell and the Ordinary Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back
registration rights held by other shareholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum
number of shares that can be sold in such offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of shares, as applicable,
the “Maximum Number of Shares”), then the Company shall include in such registration: (i) first,
the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in accordance
with the number of shares that each such person has requested be included in such registration, regardless of the number of shares
held by each such person (such proportion is referred to herein as “Pro Rata”)) that can be sold without
exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (i) and (ii), the Ordinary Shares or other securities registrable pursuant to the terms of the
Registration Rights Agreement between the Company and the initial investors in the Company, dated as of [__], 2015 (the “Registration
Rights Agreement” and such registrable securities, the “Investor Securities”) as to which
“piggy-back” registration has been requested by the holders thereof, Pro Rata, that can be sold without exceeding
the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clauses (i), (ii), and (iii), the Ordinary Shares or other securities for the account of other persons that
the Company is obligated to register pursuant to written contractual arrangements with such persons and that can be sold without
exceeding the Maximum Number of Shares.

 

5.1.5          Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include
all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw
from such offering by giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior
to the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration. If the
majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then the Company
does not have to continue its obligations under Section 5.1 with respect to such proposed offering and such proposed offering
will not count as a Demand Registration.

 

5.1.6          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 Demanding Holders to represent them in connection with the sale of the Registrable Securities,
but the Demanding 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 Holders; 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 shareholders 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) consecutive months from the effective date of such registration statement or post-effective amendment.

 

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5.2          Piggy-Back
Registration.

 

5.2.1          Piggy-Back
Rights. If at any time during the seven (7) year period commencing on the Effective Date the Company proposes to file a registration
statement under the Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into, equity securities, by the Company for its own account or for shareholders of the Company for their account
(or by the Company and by shareholders of the Company including, without limitation, pursuant to Section 5.1), other than a registration
statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or
offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible
into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice
of such proposed filing to the holders of Registrable Securities as soon as practicable but in no event less than ten (10) days
before the anticipated filing date, which notice shall describe the amount and type of securities to be included in such offering,
the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters, if any, of the offering,
and (y) offer to the holders of Registrable Securities in such notice the opportunity to register the sale of such number of shares
of Registrable Securities as such holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back
Registration”). The Company shall cause such Registrable Securities to be included in such registration and shall
use its best efforts to cause the managing underwriter or underwriters of a proposed underwritten offering to permit the Registrable
Securities requested to be included in a Piggy-Back Registration on the same terms and conditions as any similar securities of
the Company and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
of distribution thereof. All holders of Registrable Securities proposing to distribute their securities through a Piggy-Back Registration
that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with the underwriter
or underwriters selected for such Piggy-Back Registration.

 

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5.2.2          Reduction
of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Ordinary Shares which
the Company desires to sell, taken together with Ordinary Shares, if any, as to which registration has been demanded pursuant
to written contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities
as to which registration has been requested under this Section 5.2, and the Ordinary Shares, if any, as to which registration
has been requested pursuant to the written contractual piggy-back registration rights of other shareholders of the Company, exceeds
the Maximum Number of Shares, then the Company shall include in any such registration:

 

(a)          If
the registration is undertaken for the Company’s account: (A) first, the Ordinary Shares 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 Ordinary Shares or other securities, if
any, comprised of Registrable Securities and Investor Securities, as to which registration has been requested pursuant to the
applicable written contractual piggy-back registration rights of such security holders, Pro Rata, 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 Ordinary Shares or other securities for the account of other persons that the Company
is obligated to register pursuant to written contractual piggy-back registration rights with such persons and that can be sold
without exceeding the Maximum Number of Shares;

 

(b)          If
the registration is a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first,
the Ordinary Shares or other securities for the account of the demanding persons, Pro Rata, 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 Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), the shares of Registrable Securities, Pro Rata, as to which registration has been requested pursuant
to the terms hereof, that can be sold without exceeding the Maximum Number of Shares; 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 Ordinary Shares or other
securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons, that can be sold without exceeding the Maximum Number of Shares; and

 

(c)          If
the registration is a “demand” registration undertaken at the demand of persons other than either the holders of Registrable
Securities or of Investor Securities, (A) first, the Ordinary Shares or other securities 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 Ordinary Shares or other securities that the Company desires to sell that
can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (A) and (B), the Ordinary Shares or other securities comprised of Registrable Securities
and Investor Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof and of the Registration
Rights Agreement, as applicable, that can be sold without exceeding the Maximum Number of Shares; 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 Ordinary Shares or other
securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons, that can be sold without exceeding the Maximum Number of Shares.

 

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5.2.3          Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the registration statement in connection with such Piggy-Back Registration. The Company (whether on its own determination or
as the result of a withdrawal by persons making a demand pursuant to written contractual obligations) may withdraw a registration
statement in connection with such Piggy-Back Registration at any time prior to the effectiveness of such registration statement.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection
with such Piggy-Back Registration as provided in Section 5.2.4.

 

5.2.4          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 of Registrable Securities to represent them in connection with the sale of the Registrable
Securities but such holders shall pay any and all underwriting commissions related to their 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 (15) days written notice prior to the proposed date of filing of such registration statement. Such notice to the
holders of Registrable Securities shall continue to be given for each applicable registration statement filed (during the period
in which this Purchase Option is exercisable) by the Company until such time as all of the Registrable Securities have been registered
and sold by such holder. The holders of the Registrable Securities shall exercise the “piggy-back” rights provided
for herein by giving written notice, within ten (10) 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 (9) months from the date that the holders of the Registrable
Securities are first given the opportunity to sell all of such securities.

 

5.3          General
Terms.

 

5.3.1          Indemnification.
The Company shall, to the fullest extent permitted by applicable law, indemnify the Holder, each other holder of the Registrable
Securities to be sold pursuant to any registration statement hereunder, their affiliates, each director, officer, employee, agent,
partner and member of the Holder and each such other holder of Registrable Securities and their respective affiliates, and each
person, if any, who controls the Holder and each such other holders of Registrable Securities within the meaning of Section 15
of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against
any and all losses, claims, damages, expenses and/or liabilities (including, without limitation, 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, regardless of whether such indemnified person is a party thereto) to which any of them may become
subject under the Act, the Exchange Act or otherwise, arising from any registration statement of the Company 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 5 of the Underwriting Agreement among the Company, Cantor and the other underwriters named therein (if any) dated the
Effective Date. The holders 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 any and all losses,
claims, damages, expenses or liabilities (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, solely to the extent arising from information furnished by or on behalf of such holders in writing for specific
inclusion in a registration statement in connection with any Demand Registration or Piggy-Back Registration 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 Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder to exercise this
Purchase Option or convert the Rights included in the Units underlying this Purchase Option 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 to each holder of Registrable Securities participating in any of the foregoing
offerings, a signed counterpart, addressed to the participating holders of Registrable Securities, of (i) an opinion of counsel
to the Company, dated the effective date of the applicable 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 each holder of Registrable Securities 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 such registration
statement and permit each holder of Registrable Securities, to do such investigation, upon reasonable advance notice, with respect
to information contained in or omitted from such registration statement as it deems reasonably necessary to comply with applicable
securities laws or rules of FINRA. Such investigation shall include access to books, records and properties of the Company 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 each holder of Registrable Securities, shall reasonably request. The Company shall
not be required to disclose any confidential information or other records to the holders of the holders of Registrable Securities,
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.

 

    	10

    	 

    

 

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 of
Registrable Securities 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
of Registrable Securities 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 shareholders as are customarily contained in agreements of that type used by the managing
underwriter. Further, such holders shall execute appropriate custody agreements and otherwise reasonably cooperate 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 such 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.

 

5.3.5          Supplemental
Prospectus. Each holder of Registrable Securities 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, at its option, either 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 or as otherwise required by applicable law or such holder’s
document retention policies, 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 this 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 6.3 below, the number of outstanding
Ordinary Shares is increased by a stock dividend payable in Ordinary Shares or by a split-up of Ordinary Shares or other similar
event, then, on the effective date thereof, the number of Ordinary Shares underlying each of the Units purchasable hereunder shall
be increased in proportion to such increase in outstanding shares. In such case, the number of Ordinary Shares issuable upon conversion
of the Rights underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Rights.

 

    	11

    	 

    

 

6.1.2          Aggregation
of Shares. If after the date hereof, and subject to the provisions of Section 6.3, the number of outstanding Ordinary Shares
is decreased by a consolidation, combination or reclassification of Ordinary Shares or other similar event, then, on the effective
date thereof, the number of Ordinary Shares underlying each of the Units purchasable hereunder shall be decreased in proportion
to such decrease in outstanding shares. In such case, the number of Ordinary Shares issuable upon conversion of the Rights underlying
each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Rights.

 

6.1.3          Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares
other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Ordinary Shares, or
in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger
in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of all of the outstanding securities
of the Company or of all or substantially all of the property, business or assets of the Company, the Holder 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 any
such sale or transfer, by a holder of the number of Ordinary Shares of the Company obtainable upon exercise of this Purchase Option
and conversion of the underlying Rights included in the Units underlying this Purchase Option immediately prior to such event;
and if any reclassification also results in a change in Ordinary Shares 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
6, and purchase options issued after such change may state the same Exercise Price and the same number of Units as are stated
in this Purchase Option. The acceptance by the Holder of the issuance of a new purchase option 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 into another corporation
(other than a consolidation or merger which does not result in any reclassification or change of the outstanding Ordinary Shares),
the corporation formed by such consolidation or merger shall execute and deliver to the Holder a supplemental purchase option
providing that the Holder 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 Ordinary Shares 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 this Section 6. The above provision of this Section 6
shall similarly apply to successive consolidations or mergers.

 

    	12

    	 

    

 

6.3          Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Ordinary Shares
or Rights upon the exercise of this 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 down
to the nearest whole number Ordinary Shares or other securities, properties or rights.

 

7.          Reservation
and Listing. The Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares,
solely for the purpose of issuance upon exercise of this Purchase Option and conversion of the Rights included in the Units underlying
this Purchase Option, such number of Ordinary Shares or other securities, properties or rights as shall be issuable upon the exercise
or conversion thereof. The Company covenants and agrees that, upon exercise of this Purchase Option and payment of the Exercise
Price therefor, all Ordinary Shares 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
conversion of the Rights included in the Units underlying this Purchase Option, all Ordinary Shares 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 this Purchase Option shall be outstanding, the Company shall use its best efforts to cause all (i) Units
and Ordinary Shares issuable upon exercise of this Purchase Option, (ii) Rights issuable upon exercise of this Purchase Option
and (iii) Ordinary Shares issuable upon conversion of the Rights included in the Units issuable upon exercise of this Purchase
Option to be listed (subject to official notice of issuance) on all securities exchanges (or, if applicable on the OTC Bulletin
Board or any successor trading market) on which the Units, the Ordinary Shares or the Public Rights issued to the public in connection
herewith may then be listed and/or quoted.

 

8.          Certain
Notice Requirements.

 

8.1          Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holder 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
with respect to the Ordinary Shares included in the Units underlying this Purchase Option or the Ordinary Shares issuable upon
conversion of the Rights included in the Units underlying this Purchase Option prior to the exercise of all or any part of this
Purchase Option and then only with respect to the Ordinary Shares included in the portion so issued. If, however, at any time
prior to the expiration of this Purchase Option and its 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 (15) days prior to the date
fixed as a record date or the date of closing the transfer books for the determination of the shareholders 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 the Holder a copy of each notice given to the other shareholders
of the Company at the same time and in the same manner that such notice is given to the shareholders.

 

    	13

    	 

    

 

8.2          Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon each of the following
events: (i) if the Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company
shall offer to all the holders of its Ordinary Shares 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
its outstanding securities or all or substantially all of its property, assets or business 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 Holder of such event and change (“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 by electronic mail: (i) if to
the Holder, to the address of the Holder as shown on the books of the Company, or (ii) if to the Company, to either of the following
address or to such other address as the Company may designate by notice to the Holder:

 

E-compass Acquisition Corp.

6F/Tower, 2 West Prosper Centre

No.5, Guanghua Road

Chaoyang District

Beijing, 100020, P.R. China

Attn: Chief Executive Officer

Facsimile:

 

or

 

E-compass Acquisition Corp.

c/o Graubard Miller

405 Lexington Avenue, 11th
Floor

New York, New York 10174

Attn: David Alan Miller, Esq.

Facsimile: 212-818-8881

 

    	14

    	 

    

 

9.          Miscellaneous.

 

9.1          Amendments.
The Company and Cantor may from time to time supplement or amend this Purchase Option without the approval of the Holder 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 Cantor may deem necessary or desirable and that the Company and Cantor deem shall not adversely affect the interest of the
Holder. 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.

 

9.3          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.

 

9.4          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, other than Cantor, 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.

 

9.5          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 the conflict of laws principles thereof. The Company hereby agrees that
any action, proceeding or claim arising out of, or relating in any way to this Purchase Option shall be resolved in the state
or federal courts located in New York County in the State of New York. The Company hereby appoints, without power of revocation,
Graubard Miller, as agent to accept and acknowledge on its behalf service of any and all process which may be served in any action,
proceeding or counterclaim in any way relating to or arising out of this Purchase Option.

 

9.6          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 or non-compliance.

 

9.7          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 (by facsimile transmission, by electronic mail in in “portable document format” (“.pdf”) form,
or by any other, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document,
or by combination of such means ) to each of the other parties hereto.

 

9.8          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 Cantor enter into an agreement (“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.

 

    	15

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly authorized officer as of the ____ day of
___________, 2015.

 

	 	E-COMPASS
    ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

    	16

    	 

    

 

Form
to be used to exercise Purchase Option:

 

E-compass
Acquisition Corp.

6F/Tower,
2 West Prosper Centre

No.5,
Guanghua Road

Chaoyang
District

Beijing,
100020, P.R. China

Facsimile:

Attn.:
Chairman of the Board

 

Date:_________________,
20___

 

The
undersigned hereby elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase ____ Units of
E-compass Acquisition Corp. and hereby makes payment of $____________ (at the rate of $_________ per Unit) in payment of the Exercise
Price pursuant thereto. Please issue the securities 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.

 

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

 

Signature(s)
Guaranteed:

 

 

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

 

    	17

    	 

    

 

	 	INSTRUCTIONS FOR REGISTRATION OF SECURITIES
		 

	Name	 
	 	 
	 	(Print in Block Letters)
	 	 
	Address	
	 	 

 

    	18

    	 

    

 

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 E-compass Acquisition Corp. (“Company”) evidenced by the within
Purchase Option and does hereby authorize the Company to transfer such right on the books and records of the Company.

 

Dated:
___________________, 20__

 

	 	 
	 	Signature

 

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

 

Signature(s)
Guaranteed:

 

 

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

 

 

19Exhibit 10.1

 

____________, 2015

 

E-compass Acquisition Corp.

6F/Tower, 2 West Prosper Centre

No.5, Guanghua Road

Chaoyang District

Beijing, 100020, P.R. China

 

Cantor
Fitzgerald & Co.

499 Park
Avenue

New York,
New York 10022

 

Re:     Initial
Public Offering

 

Gentlemen:

 

This letter is being delivered to you
in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and between
E-compass Acquisition Corp., a Cayman Islands corporation (the “Company”), and Cantor Fitzgerald &
Co., as Representative (the “Representative”) of the several Underwriters named in Schedule I thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one ordinary share of the Company, par
value $0.0001 per share (the “Ordinary Shares”), and one right (“Right”) to
receive one-tenth of one Ordinary Share upon consummation of the Company’s initial Business Combination. Certain capitalized
terms used herein are defined in paragraph 14 hereof.

 

In order to induce the Company and the Underwriters
to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such IPO will confer
upon the undersigned as a shareholder of the Company, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.       If the Company solicits approval of its shareholders
of a Business Combination, the undersigned will vote all Ordinary Shares beneficially owned by him, her or it, whether acquired
before, in or after the IPO, in favor of such Business Combination.

 

    	 

    	 

    

 

2.      (a) In the event that the Company fails
to consummate a Business Combination within 18 months from the closing of the Company’s IPO, the undersigned shall take all reasonable
steps to (i) cause the Trust Fund to be liquidated and distributed to the holders of IPO Shares and (ii) cause the Company to
liquidate as soon as reasonably practicable.

 

(b) The undersigned hereby waives any and all
right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining net assets of the Company
as a result of such liquidation with respect to his, her or its Insider Shares [or Private Units (and the underlying Ordinary
Shares)] (“Claim”) and hereby 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 will not seek recourse against the Trust Fund for any reason
whatsoever. The undersigned acknowledges and agrees that there will be no distribution from the Trust Fund with respect to any
Rights underlying the Private Units, all rights of which will terminate on the Company’s liquidation.

 

[(c) In the event of the liquidation of the
Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against any and all loss, liability, claims, damage
and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) which the Company may become
subject as a result of any claim by any vendor or other person who is owed money by the Company for services rendered or products
sold or contracted for, but only to the extent necessary to ensure that such loss, liability, claim, damage or expense does not
reduce the amount of funds in the Trust Fund; provided that such indemnity shall not apply if such vendor or other person
has executed an agreement waiving any claims against the Trust Fund.]1

 

[(d)  In the event that the Company
does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient to complete such liquidation,
the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not to seek repayment for such
expenses.]2

 

3.      The undersigned will escrow all of his, her or its Insider
Shares pursuant 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.

 

 

1 To be included for Richard Xu and Chen Liu letters
only.

2 To be included for Richard Xu and Chen Liu letters
only.

 

    	2

    	 

    

 

[4.     The undersigned agrees that until the Company consummates
a Business Combination, the undersigned’s Private Units will be subject to the transfer restrictions described in the Subscription
Agreement relating to the undersigned’s Private Units.]

 

5.       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 a target business, until the earlier of the consummation by
the Company of a Business Combination or the liquidation of the Company, subject to any pre-existing fiduciary and contractual
obligations the undersigned might have.

 

6.       The undersigned acknowledges and agrees that prior to
entering into a Business Combination with a target business that is affiliated with any Insiders of the Company or their affiliates,
including any company that is a portfolio company of, or otherwise affiliated with, or has received financial investment from,
an entity with which any Insider or their affiliates is affiliated, such transaction must be approved by a majority of the Company’s
disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm that such
Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

7.       Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
and will not accept any compensation or other cash payment prior to, or for services rendered in connection with, the consummation
of the Business Combination[; provided that the Company shall be allowed to repay a non-interest bearing loan in an aggregate
amount of $115,000 made to the Company by an affiliate of the undersigned to cover the IPO expenses]3;
provided [further] that the Company shall be allowed to repay working capital loans made by the undersigned to the
Company in cash upon consummation of the Business Combination or, at the undersigned’s discretion, with respect to up to
an aggregate of $500,000 of working capital loans from all lenders, by converting such loans into units at a price of $10.00 per
unit, as more fully described in the Registration Statement. Notwithstanding the foregoing, the undersigned and any affiliate
of the undersigned shall be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection
with identifying, investigating and consummating a Business Combination.

 

8.       Neither the undersigned, any member of the family of
the undersigned, nor any affiliate of the undersigned 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 of the undersigned originates
a Business Combination.

 

 

3 To be included for Richard Xu letter
only.

 

    	3

    	 

    

 

9.       The undersigned agrees to be the _________ of the Company
until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s
biographical information previously furnished to the Company and the Representative is true and accurate in all material respects,
does not omit any material information with respect to the undersigned’s biography 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. The undersigned’s
FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in all material respects.
The undersigned represents and warrants that:

 

	 	(a)	he/she/it has never had a petition under
    the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it or any partnership in which
    he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation or business association
    of which he/she/it was an executive officer at or within two years before the time of such filing;

 

	 	(b)	he/she/it has never had a receiver, fiscal
    agent or similar officer been appointed by a court for his/her/its business or property, or any such partnership;

 

	 	(c)	he/she/it has never been convicted of fraud
    in a civil or criminal proceeding;

 

	 	(d)	he/she/it/ has never been convicted in
    a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

	 	(e)	he/she/it has never been the subject of
    any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
    or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission merchant, introducing broker,
    commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated
    by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the foregoing, or as an
    investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
    company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct or practice
    in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in any
    activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
    or state securities or federal commodities laws;

 

    	4

    	 

    

 

	 	(f)	he/she/it has never been the subject of
    any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring,
    suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described in 9(e)(i) above,
    or to be associated with persons engaged in any such activity;

 

	 	(g)	he/she/it has never been found by a court
    of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, where the
    judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

	 	(h)	he/she/it has never been found by a court
    of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment
    in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	he/she/it has never been the subject of,
    or a party to, any Federal or State judicial or administrative order, judgment, decree or finding, not subsequently reversed,
    suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities law or regulation,
    (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary
    or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist
    order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
    with any business entity;

 

	 	(j)	he/she/it has never been the subject of,
    or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization,
    any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over
    its members or persons associated with a member;

 

	 	(k)	he/she/it has never been convicted of any
    felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false
    filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities
    dealer, investment advisor or paid solicitor of purchasers of securities;

 

    	5

    	 

    

 

	 	(l)	he/she/it was never subject to a final
    order of a state securities commission (or an agency of officer of a state performing like functions); a state authority that
    supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer
    of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration
    that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

	 	(m)	he/she/it has never been subject to any
    order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale, restrained or enjoined him/her/it
    from engaging or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security;
    (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter,
    broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of securities;

 

	 	(n)	he/she/it has never been subject to any
    order of the SEC that orders him/her/it to cease and desist from committing or causing a future violation of: (i) any scienter-based
    anti-fraud provision of the federal securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act,
    Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers Act or any other rule or regulation
    thereunder; or (ii) Section 5 of the Securities Act;

 

	 	(o)	he/she/it has never been named as an underwriter
    in any registration statement or Regulation A offering statement filed with the SEC that was the subject of a refusal order,
    stop order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation or proceeding
    to determine whether a stop order or suspension order should be issued;

 

	 	(p)	he/she/it has never been subject to a United
    States Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary
    injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining
    money or property through the mail by means of false representations;

 

	 	(q)	he/she/it is not subject to a final order
    of a state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises
    or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state
    performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that
    bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii)
    engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

    	6

    	 

    

 

	 	(r)	he/she/it is not subject to an order of
    the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the “Exchange Act”)
    or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that: (i) suspends or
    revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser; (ii)
    places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii)
    bars the undersigned from being associated with any entity or from participating in the offering of any penny stock; and

 

	 	(s)	he/she/it has never been suspended or expelled
    from membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g.,
    a registered national securities exchange or a registered national or affiliated securities association) for any act or omission
    to act constituting conduct inconsistent with just and equitable principles of trade.

 

10.     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 _________ of the Company.

 

11.     The undersigned hereby waives his, her or its right
to exercise conversion rights with respect to any Ordinary Shares owned or to be owned by the undersigned, directly or indirectly,
whether purchased by the undersigned prior to the IPO, in the IPO or in the aftermarket, and agrees that he, she or it will not
seek conversion with respect to or otherwise sell, such shares in connection with any vote to approve a Business Combination with
respect thereto or a vote to amend the provisions of the Company’s Amended and Restated Memorandum and Articles of Association.

 

12.     The undersigned hereby agrees to not propose, or vote
in favor of, an amendment to the Company’s Amended and Restated Memorandum and Articles of Association with respect to the
Company’s pre-Business Combination activities prior to the consummation of a Business Combination unless the Company offers
dissenting holders the right to receive their pro rata portion of the funds then held in the Trust Fund..

 

    	7

    	 

    

 

13.     In connection
with Section 5-1401 of the General Obligations Law of the State of New York, this letter 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 letter agreement shall be resolved through final and binding 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 undersigned hereby appoints, without power of revocation,
Graubard Miller 405 Lexington Avenue New York, New York 10174 Fax No.: (212) 818-8881 Attn: David Alan Miller, Esq., as its 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 letter agreement.

 

14.      As used herein, (i) a “Business Combination”
shall mean a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business
combination with one or more businesses or entities; (ii) “Insiders” shall mean all officers, directors
and shareholders of the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean all
of the Ordinary Shares of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares” shall
mean the Ordinary Shares issued in the Company’s IPO; (v) “Private Units” shall mean (x) the Units
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO and (y) the additional
Units that may be purchased to cover additional commissions that will be paid to the Underwriters upon the happening of certain
events as described in the Registration Statement; (vi) “Registration Statement” means the registration
statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust Fund” shall mean
the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

15.      Any notice, consent or request to be given in connection
with any of the terms or provisions of this letter agreement shall be in writing and shall be sent by express mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.

 

If to the Representative:

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, New York 10022

Attn: General Counsel

Facsimile: (212) 829-4708

 

    	8

    	 

    

 

Copy (which copy shall not constitute
notice) to:

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, New York 10022

Attn: Investment Banking Department

Facsimile: (212) 829-4708

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq.

Facsimile: (212) 504-3013

 

If to the Company:

 

E-compass Acquisition Corp.

6F/Tower, 2 West Prosper Centre

No.5, Guanghua Road

Chaoyang District

Beijing, 100020, P.R. China

Attn: Chief Executive Officer

Facsimile:

 

Copy (which copy shall not constitute
notice) to:

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

Facsimile: (212) 818-8881

 

16.     No party hereto may assign either this letter agreement
or any of its rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported
assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest
or title to the purported assignee. This letter agreement shall be binding on the parties hereto and any successors and assigns
thereof.

 

    	9

    	 

    

 

17.    The undersigned acknowledges and understands that the
Underwriters and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with
the IPO.

 

	 	 
	 	Print Name of Insider
	 	 
	 	 
	 	Signature

 

 

 

10

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