Document:

PUT AND
CALL AGREEMENT

     

    THIS PUT
AND CALL AGREEMENT dated as of April 7, 2009 (this “Agreement”) and entered into
by and between Spring Creek Acquisition Corp., a Cayman Islands company (“Spring
Creek” or the “Company”), AutoChina Group, Inc. (“AutoChina”), and the signatory
on the execution page hereof (the “Seller”).

     

    WHEREAS,
the Company was organized for the purpose of acquiring, through a stock
exchange, asset acquisition or other similar business combination, or
controlling, through contractual arrangements, an operating business, that has
its principal operations in the Greater China region, which includes Hong Kong,
Macau and Taiwan;

     

    WHEREAS,
Spring Creek has agreed to acquire (the “Acquisition”) AutoChina pursuant to
certain agreements.

     

    WHEREAS,
the approval of the Acquisition is contingent upon, among other things, the
affirmative vote of holders of a majority of the outstanding ordinary shares of
Spring Creek voting at the meeting to approve the Acquisition.

     

    WHEREAS,
pursuant to certain provisions in Spring Creek’s amended and restated memorandum
and articles of association, a holder of ordinary shares of Spring Creek issued
in the IPO may, if such holder votes against the Acquisition, demand that Spring
Creek convert such ordinary shares into cash (“Conversion Rights”).

     

    WHEREAS,
the Acquisition is subject to the exercise of Conversion Rights by holders of
less than 40% of the Spring Creek ordinary shares issued in the
IPO.

     

    WHEREAS,
Seller is the holder of 10,000 ordinary shares of the Company (the “Shares”) and
is interested in acquiring the right to require the Company to purchase the
Shares, and the Company is interested in acquiring the right to require the
Seller to sell the Shares, in each case during the time periods and upon the
terms and conditions described herein.

     

    NOW,
THEREFORE, for and in consideration of the premises and the mutual covenants
hereinafter set forth, the parties hereto do hereby agree as
follows:

     

    
      	
              1.

            	
              Defined
      Terms.

            

    

     

    
      	
            	
              1.1.

            	
              “Escrow
      Account” means the escrow account established by the parties hereto to
      hold ordinary shares of the Company and funds to secure the payment of the
      Option Price as set forth herein.

            

    

     

    
      	
            	
              1.2.

            	
              “Escrow
      Agent” means the firm of Loeb & Loeb LLP, acting as escrow agent under
      for the Escrow Account.

            

    

     

    
      	
            	
              1.3.

            	
              “Market
      Price” means the closing price of the Company’s ordinary shares as of the
      immediately preceding trading day as quoted on the OTC Bulleting Board (or
      any successor market, or the New York Stock Exchange, the NYSE Alternext,
      the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ
      Capital Market on which the Company’s ordinary shares are listed or quoted
      for trading on the date in
question).

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              1.4.

            	
              “Option
      Price” means $9.05 per Share, less the per Share portion of any cash
      dividend or other cash distribution paid to the Company’s shareholders
      prior to the exercise of the Put Option of Call
  Option.

            

    

     

    
      	
              2.

            	
              Put
      Option.  The Company hereby grants Seller the option to
      require the Company to buy from Seller any or all of the Shares owned by
      Seller at the Option Price during the two week period commencing on the
      six month anniversary of the closing of the Acquisition (the “Put
      Option”).  In order to exercise the Put Option, Seller shall
      deliver to the Company a put option notice in the form of Schedule I
      hereto.

            

    

     

    
      	
              3.

            	
              Call
      Option.  Seller hereby grants the Company, or its
      assigns, the option to require the Seller to sell to the Company, or its
      assignees, any or all of the Shares owned by Seller at the Option Price
      from the date of this Agreement until the last date on which the Put
      Option may be exercised in accordance with Section 2 (the “Call Option”);
      provided,
      however,
      that the Company may not exercise the Call Option if the Market Price of
      the Company’s ordinary shares on the applicable date exceeds the Option
      Price.  The Company may assign, in whole or in part, the Call
      Option at any time prior to its expiration, and the assignment or exercise
      of the Call Option with respect to any Shares shall not limit the
      Company’s rights under the Call Option with respect to any remaining
      Shares.  In order to exercise the Call Option, the Company, or
      its assigns, shall deliver to Seller a call option notice in the form of
      Schedule
      II hereto.

            

    

     

    
      	
              4.

            	
              Completion.  If
      either the Put Option or Call Option is exercised, a closing shall be held
      on the Closing Date specified in the relevant notice (provided that with
      respect to the Put Option the Closing Date shall be no earlier than a date
      that is two weeks after the date that the Company receives such notice) at
      the offices of the Company’s counsel, Loeb & Loeb LLP, 345 Park
      Avenue, New York, NY 10154 at which Seller will deliver certificates
      representing such Shares as shall have been specified in the relevant
      notice (or shall have delivered such Shares through the book-entry
      facilities of DTC at the election of the Seller) and the Company, or its
      assigns, will deliver immediately available funds equal to the Option
      Price per Share to an account of Seller furnished to the Company and its
      assigns, as applicable, at least five business days prior to such
      closing.  In the event the Put Option is exercised with respect
      to any of the Shares, the Company, or its assigns, may exercise the Call
      Option and in lieu of Closing on the Put Option may close on the Call
      Option with respect to such Shares; provided, however, that
      the Closing Date of such exercise of the Call Option shall be no later
      than the Closing Date specified in the relevant put option
      notice.  The exercise, in whole or in part, of the Call Option
      shall reduce the number of Shares subject to the Put Option on a
      one-for-one basis, and (subject to the immediately preceding sentence) the
      exercise, in whole or in part, of the Put Option shall reduce the number
      of Shares subject to the Call Option on a one-for-one
    basis.

            

    

     

    
      	
              5.

            	
              Representations and
      Warranties of the Company and
Seller.

            

    

     

    
      	
            	
              5.1.

            	
              The
      Company hereby represents and warrants to the Seller as of the date hereof
      and as of the Closing Date, as follows: (i) it is free to enter into this
      Agreement; (ii) in so doing, it will not violate any other agreement to
      which it is a party; and (iii) it has taken all corporate action necessary
      to authorize the execution and delivery of this Agreement and the
      performance of its obligations under this Agreement. The Company hereby
      represents and warrants to the Seller that as of the Closing Date all
      necessary filings with the Securities and Exchange Commission related to
      this Agreement shall have been made and that such filings will comply in
      all material respects with the securities laws of the United
      States.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              5.2.

            	
              Seller
      hereby represents and warrants to the Company as of the date hereof and as
      of the Closing Date, as follows: (a) immediately prior to the closing of
      each sale pursuant to this Agreement, Seller or its applicable designees
      will have all rights, title and interest in and to the Shares being sold,
      (b) any Shares sold by Seller and its designees under this Agreement will
      be owned by Seller or its applicable designee free and clear of all liens
      and encumbrances, and upon receipt of such Shares the purchaser of such
      Shares will have all rights, title and interest in and to such shares, (c)
      it is free to enter into this Agreement; (d) in so doing, it will not
      violate any other agreement to which it is a party; and (e) it has taken
      all corporate action necessary to authorize the execution and delivery of
      this Agreement and the performance of its obligations under this
      Agreement

            

    

     

    
      	
              6.

            	
              Voting of Shares; Sale
      of Shares.

            

    

     

    
      	
            	
              6.1.

            	
              In
      further consideration of entering into this Agreement, the Seller hereby
      agrees the Seller will not exercise the Seller’s Conversion
      Rights.  The Seller hereby irrevocably appoints James Sha and
      Diana Liu and each of them, each with full power of substitution, to the
      full extent of such stockholder’s rights with respect to the Shares (and
      any and all other Shares or securities or rights issued or issuable in
      respect thereof) to vote in such manner as each such attorney and proxy or
      his substitute shall in his sole discretion deem proper, and otherwise act
      (including without limitation pursuant to written consent) with respect to
      all the Shares to be sold hereunder which the Seller is entitled to vote
      at any meeting of stockholders (whether annual or special and whether or
      not an adjourned meeting) of the Company held prior to April 15,
      2009.  This proxy is coupled with an interest in the Company and
      in the Shares and is irrevocable.

            

    

     

    
      	
            	
              6.2.

            	
              Until
      the closing of the Acquisition, Seller agrees not to take any action
      (including any purchase or sale of any security or the establishment of
      any arbitrage or similar derivative position relating to any security)
      that is reasonably expected to materially adversely affect the adoption of
      the Acquisition by the shareholders of the
  Company.

            

    

     

    
      	
            	
              6.3.

            	
              Seller
      may sell any or all the Shares prior to the expiration of the Put Option
      and Call Option only if the Market Price of the Company’s ordinary shares
      on the applicable date exceeds the Option Price, in which case the number
      of Shares subject to both the Put Option and Call Option shall be reduced
      by the number of Shares so sold on a one-for-one
  basis.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              7.

            	
              Escrow
      Account.  Honest Best Int’l Ltd, the sole shareholder of
      AutoChina (the “Shareholder”), hereby agrees to place 7,745,625 ordinary
      shares of the Company to be received at the closing of the Acquisition
      (the “ Escrowed Shares”), and Spring Creek hereby agrees to place $2.40
      per Shares (and aggregate of $24,000) (the “Escrowed Funds”) in the Escrow
      Account maintained by the Escrow Agent pursuant to the terms of an escrow
      agreement to be executed by the parties and the Escrow
      Agent.  The escrow agreement provides that a pro rata (with
      respect to all holders of put options) portion of the Escrowed Shares and
      $2.40 of the Escrowed Funds will be released to the Seller by the Escrow
      Agent for each Share subject to the Put Option upon notice to the Escrow
      Agent that the Company has not fulfilled its obligations under this
      Agreement to buy such Shares upon the appropriate exercise by the Seller
      of its rights under this Agreement.  In the event a dividend is
      declared on the Escrowed Shares, such dividend shall be deposited with the
      Escrow Agent to be held pursuant to the terms of the escrow
      agreement.

            

    

     

    
      	
              8.

            	
              Registration of
      Escrowed Shares.  The Company shall use its commercially
      reasonable efforts to cause a registration statement covering the resale
      of the Escrowed Shares (the “Registrable Securities”) to become effective
      by September 30, 2009, and to remain effective until the earlier of the
      date when (i) the Seller has sold all of the Seller’s Registrable
      Securities, (ii) all the Registrable Securities covered by the
      registration statement have been sold pursuant thereto or otherwise or
      (ii) the Registrable Securities may be publicly sold without volume
      restrictions under Rule 144 (or any similar provisions then in force) of
      the Securities Act.  The Company acknowledges and agrees that it
      will use commercially reasonable efforts to file any supplements or
      amendments to the registration statement required to permit the Seller to
      sell the Registrable Securities pursuant to the registration statement
      after any of the Escrowed Shares have been released to the
      Seller.  The release of Escrowed Shares and Escrowed Funds shall
      not relieve Spring Creek of its obligations under this Agreement,
      including without limitation its obligation to deliver any remaining
      portion of the Option Price not covered by the release of Escrowed Shares
      and Escrowed Funds.

            

    

     

    
      	
              9.

            	
              Indemnification.
      The Company and AutoChina hereby agrees to indemnify and hold harmless
      Seller and each of its partners, principals, members, officers, directors,
      employees, agents, representatives and affiliated or managed funds (the
      “Indemnified Parties”) from and against any and all losses, claims,
      damages, liabilities and expenses, joint or several, of any kind or nature
      whatsoever, and any and all actions, inquiries, proceedings and
      investigations in respect thereof, whether pending or threatened, to which
      any such party may become subject, arising in any manner out of or in
      connection with this Agreement or the transactions contemplated herein to
      the fullest extent permitted under applicable law, regardless of whether
      any of such parties is a party hereto, and immediately upon request
      reimburse such party for such party’s legal and other expenses as they are
      incurred in connection with investigating, preparing, defending, paying,
      settling or compromising any such action, inquiry, proceeding or
      investigation (including, without limitation, usual and customary per diem
      compensation for any such party’s involvement in discovery proceedings or
      testimony); provided that
      the Company and AutoChina shall not be liable for any such loss,
      liability, claim, damage or expense resulting from actions taken by the
      Indemnified Parties in bad faith or as a result of their respective gross
      negligence or willful misconduct; and provided further that
      such foregoing indemnity pursuant to this Section 9 shall not be available
      for any losses, claims, damages, liabilities or expenses or with respect
      to any lawsuits, inquiries, proceedings and investigations in respect
      thereof to the extent such arise out of any actions taken after the
      Closing.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              10.

            	
              Notice.  Any
      notice required or permitted to be given or delivered hereunder or by
      reason of the provisions of this Agreement shall be in writing and shall
      be deemed to have been properly served if: (a) delivered personally, (b)
      delivered by a recognized overnight courier service instructed to provide
      next-day delivery, (c) sent by certified or registered mail, return
      receipt requested and first class postage prepaid, or (d) sent by
      facsimile transmission followed by confirmation copy delivered by a
      recognized overnight courier service the next day.  Such
      notices, demands and other communications shall be sent to the addresses
      set forth below, or to such other addresses or to the attention of such
      other Person as the recipient has specified by prior written notice to the
      sender.  Date of service of such notice shall be: (i) the date
      such notice is personally delivered or sent by facsimile transmission
      (with issuance by the transmitting machine of confirmation of successful
      transmission), (ii) three days after the date of mailing if sent by
      certified or registered mail, or (iii) one day after date of delivery to
      the overnight courier if sent by overnight courier.  Unless
      otherwise specified in writing, the mailing addresses of the parties
      hereto shall be as follows:

            

    

     

    If to the
Company, AutoChina or the Shareholder, addressed to:

     

    c/o Loeb
& Loeb LLP

    345 Park
Avenue

    New York,
New York  10154

    Attention:   Mitchell
S. Nussbaum, Esq.

    Facsimile:   212-504-3013

     

    If to
Seller, addressed to:

    [ADDRESS]

    Attention:

    Facsimile:   
______________

     

    
      	
              11.

            	
              Counterparts;
      Facsimile Execution.  This Agreement may be executed in
      one or more counterparts, all of which shall be considered one and the
      same agreement and shall become effective when one or more counterparts
      have been signed by each of the parties and delivered to the other
      party.  Facsimile or other electronic execution and delivery of
      this Agreement is legal, valid and binding for all
    purposes.

            

    

     

    
      	
              12.

            	
              Entire Agreement;
      Third Party Beneficiaries.  This Agreement, taken
      together with all Exhibits, Schedules and Annexes hereto (a) constitutes
      the entire agreement, and supersedes all prior agreements and
      understandings, both written and oral, among the parties with respect to
      the matters contemplated hereby and (b) is not intended to confer upon any
      person other than the parties any rights or
  remedies.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              13.

            	
              Governing
      Law.  In accordance with Section 5-1401 of the General
      Obligations Law of the State of New York, this Agreement shall be governed
      by, and construed in accordance with, the laws of the State of New York
      without regard to principles of conflicts of laws that would result in the
      application of the substantive law of another jurisdiction.  The
      parties hereto agree that any action, proceeding or claim arising out of
      or relating in any way to this Agreement shall be resolved through final
      and biding arbitration conducted in the City of New York, State of New
      York in accordance with the rules and regulations of the American
      Arbitration Association (AAA), by a panel of three arbitrators selected
      from the AAA Commercial Disputes Panel instead of any jury trial and that
      the arbitrator panel’s decision shall be final and binding to the fullest
      extent permitted by law and enforceable by any court having jurisdiction
      thereof.  The cost of such arbitrator and arbitration services,
      together with the prevailing party’s legal fees and expenses, shall be
      borne by the non-prevailing party or as otherwise directed by the
      arbitrators.  The Company, AutoChina and the Shareholder each
      hereby appoints, without power of revocation, Loeb & Loeb, LLP, New
      York, New York, Attn: Mitchell Nussbaum, as their respective 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
Agreement.

            

    

     

    
      	
              14.

            	
              Assignment.  Except
      as set forth in Section 3 hereof, neither this Agreement nor any of the
      rights, interests or obligations under this Agreement shall be assigned,
      in whole or in part, by operation of law or otherwise by any of the
      parties without the prior written consent of the other
      party.  Any purported assignment without such consent shall be
      void.  Subject to the preceding sentences, this Agreement will
      be binding upon, inure to the benefit of, and be enforceable by, the
      parties and their respective successors and
  assigns.

            

    

     

    [remainder
of page left intentionally blank; signature page follows]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed by their respective authorized signatories as of the date first
indicated above.

     

    
      
        	 
      	
                SPRING
      CREEK ACQUISITION CORP.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ James Sha

              
	 
      	
                Name:
      James Sha

              
	 
      	
                Title:  Chief
      Executive Officer

              
	 
      	 
      
	 
      	
                AUTOCHINA
      GROUP, INC.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Li Yong Hui

              
	 
      	
                Name:
      Li Yong Hui

              
	 
      	
                Title:  President

              
	 
      	 
      
	 
      	
                ALDER
      OFFSHORE MASTER FUND, L.P.

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Michael C. Licosati

              
	 
      	
                Name:
      Michael C. Licosati

              
	 
      	
                Title:  Managing
      Partner

              
	 
      	 
      
	 
      	
                Address:

              
	 
      	 
      
	 
      	
                Alder
      Capital

              
	 
      	
                12750
      High Bluff Drive

              
	 
      	
                Suite
      120

              
	 
      	
                San
      Diego, CA 92130

              

      

    

     

    ACKNOWLEDGED
AND AGREED only with respect to Sections 7 and 13:

    

    
      
        	
                HONEST
      BEST INT’L LTD

              	 
      
	 
      	 
      
	
                By:

              	
                /s/ Wang Yan

              	 
      
	
                Name:
      Wang Yan

              	 
      
	
                Title:  Director

              	 
      

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
I

    PUT
OPTION NOTICE

    To:
[COMPANY]

    

    
      	
              Attention:

            	
              [•]

            

    

     

    [Date]

     

    Ladies
and Gentlemen,

     

    Put
Option Notice

     

    We refer
to the Put and Call Agreement (the “Put and Call Agreement”) dated
April ___, 2009 and made between you and the undersigned. Terms defined in the
Put and Call Agreement shall bear the same meaning when used
herein.

     

    We hereby
confirm that we wish to exercise the option granted under Section 2 of the Put
and Call Agreement and accordingly the Put Option is hereby exercised with
respect to ________ Shares.

     

    The
Closing Date shall be [•][date must be at least two weeks after the date the
Company receives the Put Option Notice].

     

    This put
option notice is irrevocable and is governed by, and shall be construed in
accordance with the laws of the State of New York.

    

    
      
        	 
      	
                Yours
      faithfully

              
	 
      	 
      
	 
      	
                By:

              	
                  

              
	 
      	
                Name:

              
	 
      	
                Title:

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
II

    CALL
OPTION NOTICE

    To:
[SELLER]

    

    
      	
              Attention:

            	
              [•]

            

    

     

    [Date]

     

    Ladies
and Gentlemen,

     

    Call
Option Notice

     

    We refer
to the Put and Call Agreement (the “Put and Call Agreement”) dated
April ___, 2009 and made between you and the undersigned. Terms defined in the
Put and Call Agreement shall bear the same meaning when used
herein.

     

    We hereby
confirm that we wish to exercise the option granted under Section 3 of the Put
and Call Agreement and accordingly the Call Option is hereby exercised with
respect to ________ Shares.

     

    The
Closing Date shall be [•].

     

    This call
option notice is irrevocable and is governed by, and shall be construed in
accordance with the laws of the State of New York.

    

    
      
        	 
      	
                Yours
      faithfully

              
	 
      	 
      
	 
      	
                By:

              	
                  

              
	 
      	
                Name:

              
	 
      	
                Title:ESCROW
AGREEMENT

     

    THIS
ESCROW AGREEMENT (this “Agreement”) is made
as of April 7, 2009, by and among Spring Creek Acquisition Corp. (the “Company”), Hammerman
Capital Partners, LP and HCP Opportunity Fund, LP (together, “Seller A”), Alder
Offshore Master Fund, L.P. (“Seller B”) and Alder
Capital Partners I, L.P. (“Seller C,” and
together with Seller A and Seller B, the “Sellers”), AutoChina
Group, Inc. (“AutoChina”), Honest
Best Int’l Ltd, the sole shareholder of AutoChina (“Shareholder”) and
Loeb & Loeb LLP, a California limited liability partnership, as escrow agent
(the “Escrow
Agent”).  Capitalized terms used but not defined herein shall
have the meanings set forth in the Option Agreements (as defined
below).

     

    WITNESSETH:

     

    WHEREAS,
the Company was organized for the purpose of acquiring, through a stock
exchange, asset acquisition or other similar business combination, or
controlling, through contractual arrangements, an operating business, that has
its principal operations in the Greater China region, which includes Hong Kong,
Macau and Taiwan;

     

    WHEREAS,
the Company has agreed to acquire (the “Acquisition”) AutoChina pursuant to
certain agreements.

     

    WHEREAS,
the Company, the Sellers, AutoChina and Shareholder, are entering into certain
Put and Call Option Agreements dated as of the date hereof (collectively, the
“Option
Agreements”) pursuant to which the Sellers will grant options to the
Company to purchase, and the Company will grant options to the Sellers to
buy,  106,990 shares from Seller A, 10,000 shares from Seller B, and
40,000 shares from Seller C, an aggregate of 156,990 ordinary shares of the
Company (the “Shares”);
and

     

    WHEREAS,
the Company, the Sellers, AutoChina and the Shareholder have requested that the
Escrow Agent hold the ordinary shares of the Company being issued to the
Shareholder in connection with the Acquisition (the “Escrowed Shares”)
together with certain funds as provided in the Option Agreements (the “Escrowed Funds” and
together with the Escrowed Shares, the “Property”), in each
case to secure the payment of the Option Price pursuant to the Option Agreements
until the Escrow Agent has received confirmation that either the Put Options or
Call Options have been exercised with respect to all Shares subject to the
Option Agreements or is instructed to release the Property to the Sellers as
hereinafter provided.

     

    NOW,
THEREFORE, in consideration of the covenants and mutual promises contained
herein and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged and intending to be legally bound
hereby, the parties agree as follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
I

     

    TERMS OF
THE ESCROW

     

    1.1.           The
parties hereby agree to establish an escrow account with the Escrow Agent
whereby the Escrow Agent shall hold the Escrowed Shares and Escrowed
Funds.  The Escrowed Funds shall be held in a non-interest bearing
account.

     

    1.2.           Upon
the closing of the Acquisition, the Company shall deposit the Property directly
with the Escrow Agent, and with respect to the Escrowed Fund in immediately
available funds by federal wire transfer.  The Escrowed Shares shall
remain the property of Shareholder, and all Escrowed Funds shall remain the
property of the Company and neither shall be subject to any liens or charges by
the Sellers or the Escrow Agent or judgments or creditors' claims against the
Sellers, until released to the Sellers as contemplated by the Option Agreement
as hereinafter provided.  Escrow Agent will not use the information
provided to it by the Company or the Sellers for any purpose other than to
fulfill its obligations as Escrow Agent.  Wire transfers to the Escrow
Agent shall be made to a non-interest bearing account of the Escrow Agent as
follows:

    

    
      
        
          	
                  Bank:

                	
                  Citibank,
      N.A.

                
	
                  Address:

                	
                  666
      Fifth Avenue, New York, NY 10103

                
	
                  ABA No.:

                	
                  021000089

                
	
                  SWIFT:

                	
                  CITI
      US 33

                
	
                  Account:

                	
                  Loeb
      & Loeb LLP Escrow Account

                
	
                  Account
    No.:

                	
                  24576266

                
	
                  Reference:

                	
                  Spring
      Creek Acquisition Corp.
(211819-10001)

                

        

      

    

     

    1.3.           The
Escrow Agent shall continue to hold the Property, subject to the terms hereof
and without the accrual of any interest thereon, until it receives instructions
to release the Property with respect to some or all of the Shares as
follows:

     

    (a)           Upon
receipt of a notice from a Seller or Sellers that the Put Option or Call Option
has been exercised and such exercise has been closed in accordance with the
relevant Option Agreement, the Escrow Agent shall release $2.40 of the Escrowed
Funds to the Company and 15.49 of the Escrowed Shares to the Shareholder for
each Share covered by the relevant exercise notice;

     

    (b)           Upon
the Company delivering to the Escrow Agent a Release Notice, in the form
attached hereto as Exhibit A (each, a “Release Notice”), the
Escrow Agent shall release the Property to the relevant Sellers in accordance
with the Release Notice; or

     

    (c)           Upon
the end of the 10th
business day following a notice to the Company and the Sellers of a Release
Request (defined below), the Escrow Agent shall release the Property in
accordance with such Release Request; provided the Company
has not objected to such release in writing prior to such time.  In
the event that the Company has objected to such release in writing by the end of
the 10th
business day following a notice to the Company of a Release Request, then the
Escrow Agent is hereby authorized to act in accordance with Section 2.12 of this
Agreement.  For purposes of this agreement “business day” means any
day except Saturday, Sunday and any day which shall be a federal legal holiday
or a day on which banking institutions in the City of New York, State of New
York, in the Hong Kong Special Administrative Region, or in Beijing, China, are
authorized or required by law or other governmental action to
close.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    1.4.           Once
the Escrow Agent receives a Release Notice executed by the Company, the Escrow
Agent shall promptly disburse the Property in accordance with the flow of funds
and instructions set forth in the applicable Release Notice.

     

    1.5.           At
any time upon the receipt of a written request executed by each of the Company,
the Sellers, AutoChina and Shareholder to the Escrow Agent, the Escrow Agent
shall promptly return the Escrowed Shares to the Shareholder and the Escrowed
Funds to the Company pursuant to written wire instructions to be delivered by
the Company to the Escrow Agent.  In the event that the Put Option
with respect to any of the Shares expires without being exercised and none of
the Sellers has notified the Escrow Agent of any dispute with the Company
regarding to the Option Agreements or the Property, the Escrow Agent shall
promptly return the Escrowed Shares to the Shareholder and the Escrowed Funds to
the Company pursuant to written wire instructions to be delivered by the Company
to the Escrow Agent.

     

    1.6.           Upon
the exercise of the Put Option, a Seller shall deliver a notice of such exercise
to the Escrow Agent.  In the event the Company fails to close on the
exercise of the Put Option in accordance with such notice and the Option
Agreement, the Seller shall provide the Escrow Agent with a written request that
the Property be released with respect to the Shares subject to the exercise
notice in the form attached hereto as Exhibit B (each, a “Release Request”),
and upon receipt of a Release Request, the Escrow Agent shall within 2 business
days notify the Company and each of the Sellers of such Release
Request.

     

    ARTICLE
II

     

    MISCELLANEOUS

     

    2.1.           No
waiver or any breach of any covenant or provision herein contained shall be
deemed a waiver of any preceding or succeeding breach thereof, or of any other
covenant or provision herein contained.  No extension of time for
performance of any obligation or act shall be deemed an extension of the time
for performance of any other obligation or act.

     

    2.2.           All
notices or other communications required or permitted hereunder shall be in
writing, and shall be sent to the addresses set forth in the Option
Agreements.

     

    2.3.           This
Escrow Agreement shall be binding upon and shall inure to the benefit of the
permitted successors and permitted assigns of the parties hereto.

     

    2.4.           This
Escrow Agreement is the final expression of, and contains the entire agreement
between, the parties with respect to the subject matter hereof and supersedes
all prior understandings with respect thereto.  This Escrow Agreement
may not be modified, changed, supplemented or terminated, nor may any
obligations hereunder be waived, except by written instrument signed by the
parties to be charged or by its agent duly authorized in writing or as otherwise
expressly permitted herein.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    2.5.           Whenever
required by the context of this Escrow Agreement, the singular shall include the
plural and masculine shall include the feminine.  This Escrow
Agreement shall not be construed as if it had been prepared by one of the
parties, but rather as if both parties had prepared the same.  Unless
otherwise indicated, all references to Articles are to this Escrow
Agreement.

     

    2.6.           The
parties hereto expressly agree that this Escrow Agreement shall be governed by,
interpreted under and construed and enforced in accordance with the laws of the
State of New York, without regard to conflicts of law principles that would
result in the application of the substantive laws of another
jurisdiction.  Any action to enforce, arising out of, or relating in
any way to, any provisions of this Escrow Agreement shall only be brought in a
state or Federal court sitting in New York City, Borough of
Manhattan.

     

    2.7.           The
Escrow Agent’s duties hereunder may be altered, amended, modified or revoked
only by a writing signed by the Company, each Seller and the Escrow
Agent.

     

    2.8.           The
Escrow Agent shall be obligated only for the performance of such duties as are
specifically set forth herein and may rely and shall be protected in relying or
refraining from acting on any instrument reasonably believed by the Escrow Agent
to be genuine and to have been signed or presented by the proper party or
parties.  The Escrow Agent shall not be personally liable for any act
the Escrow Agent may do or omit to do hereunder as the Escrow Agent while acting
in good faith and in the absence of gross negligence, fraud or willful
misconduct, and any act done or omitted by the Escrow Agent pursuant to the
advice of the Escrow Agent’s attorneys-at-law shall be conclusive evidence of
such good faith, in the absence of gross negligence, fraud or willful
misconduct.

     

    2.9.           The
Escrow Agent shall not be liable in any respect on account of the identity,
authorization or rights of the parties executing or delivering or purporting to
execute or deliver the Option Agreements or any documents or papers deposited or
called for thereunder in the absence of gross negligence, fraud or willful
misconduct.  In no event shall the Escrow Agent be liable, directly or
indirectly, for any damages or expenses arising out of the services provided
hereunder, other than damages which result from the Escrow Agent’s gross
negligence or willful misconduct

     

    2.10.         Escrow
Agent may resign upon 30 days advance written notice to the other parties to
this Agreement. If a successor escrow agent is not appointed within the 30-day
period following such notice, Escrow Agent may petition any court of competent
jurisdiction to name a successor escrow agent or interplead the Property with
such court, whereupon Escrow Agent’s duties hereunder shall
terminate.

     

    2.11.         If
the Escrow Agent reasonably requires other or further instruments in connection
with this Escrow Agreement or obligations in respect hereto, the necessary
parties hereto shall join in furnishing such instruments.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    2.12.         It
is understood and agreed that should any dispute arise with respect to the
delivery and/or ownership or right of possession of the Property held by the
Escrow Agent hereunder, the Escrow Agent is authorized and directed in the
Escrow Agent’s sole discretion (1) to retain in the Escrow Agent’s possession
without liability to anyone all or any part of said Property until such disputes
shall have been settled either by mutual written agreement of the parties
concerned by a final order, decree or judgment or a court of competent
jurisdiction after the time for appeal has expired and no appeal has been
perfected, but the Escrow Agent shall be under no duty whatsoever to institute
or defend any such proceedings or (2) to deliver the Property and any other
property held by the Escrow Agent hereunder to a state or Federal court having
competent subject matter jurisdiction and located in the City of New York,
Borough of Manhattan, in accordance with the applicable procedure
therefor.

     

    2.13.         Each
of the Company, the Sellers, AutoChina and the Shareholder agrees to indemnify
and hold harmless the Escrow Agent and its partners, employees, agents and
representatives from any and all claims, liabilities, costs or expenses in any
way arising from or relating to the duties or performance of the Escrow Agent
hereunder or the transactions contemplated hereby or by the Option Agreements
other than any such claim, liability, cost or expense to the extent the same
shall have been determined by final, unappealable judgment of a court of
competent jurisdiction to have resulted from the gross negligence, fraud or
willful misconduct of the Escrow Agent.

     

    [SIGNATURE
PAGES FOLLOW]

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    [SIGNATURE
PAGE TO ESCROW AGREEMENT]

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first written above.

    

    
      
        	
                SPRING
      CREEK ACQUISITION CORP.

              
	 
      	 
      
	
                By:

              	
                /s/ James Sha

              
	 
      	
                Name:
      James Sha

              
	 
      	
                Title:
      Chief Executive Office

              
	 
      
	
                AUTOCHINA
      GROUP, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Li Yong Hui

              
	 
      	
                Name:
      Li Yong Hui

              
	 
      	
                Title:
      President

              
	 
      
	
                HONEST
      BEST INT’L LTD.

              
	 
      	 
      
	
                By:

              	
                /s/ Wang Yan

              
	 
      	
                Name:
      Wang Yan

              
	 
      	
                Title:
      Director

              
	 
      	 
      
	
                ESCROW
      AGENT:

              
	 
      
	
                LOEB
      & LOEB LLP

              
	 
      	 
      
	
                By:

              	
                /s/ Mitchell S. Nussbaum

              
	 
      	
                Name:  Mitchell
      S. Nussbaum

              
	 
      	
                Title:  Partner

              

      

    

     

    [SELLERS’
SIGNATURE PAGE FOLLOWS]

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    [SELLERS’
SIGNATURE PAGE TO ESCROW AGREEMENT]

    

    
      
        	
                HAMMERMAN
      CAPITAL PARTNERS, LP

              
	 
      	 
      
	
                By:

              	
                /s/ Jason Hammerman

              
	 
      	
                Name:
      Jason Hammerman

              
	 
      	
                Title:
      Managing Member of GP

              
	 
      	
                Address:
      1232 Rose Lane

              
	 
      	
                 Lafayette,
      CA 94549

              
	 
      	 
      
	
                HCP
      OPPORTUNITY FUND, LP

              
	 
      	 
      
	
                By:

              	
                /s/ Jason Hammerman

              
	 
      	
                Name:
      Jason Hammerman

              
	 
      	
                Title:
      Managing Member of GP

              
	 
      	
                Address:
      1232 Rose Lane

              
	 
      	
                 Lafayette,
      CA 94549

              
	 
      
	
                ALDER
      OFFSHORE MASTER FUND, L.P.

              
	 
      	 
      
	
                By:

              	
                /s/ Michael Licosati

              
	 
      	
                Name:
      Michael Licosati

              
	 
      	
                Title:
      Managing Partner

              
	 
      	
                Address:
      1223 Camino del Mar

              
	 
      	
                 Del
      Mar, CA 92014

              
	 
      
	
                ALDER
      CAPITAL PARTNERS I, L.P.

              
	 
      	 
      
	
                By:

              	
                /s/ Michael Licosati

              
	 
      	
                Name:
      Michael Licosati

              
	 
      	
                Title:
      Managing Partner

              
	 
      	
                Address:
      1223 Camino del Mar

              
	 
      	
                 Del
      Mar, CA 92014

              

      

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    Exhibit A
to

    Escrow
Agreement

     

    RELEASE
NOTICE

     

    The
Company, pursuant to the Escrow Agreement dated as of April 7, 2009 among the
Company, the Sellers, AutoChina, the Shareholder and Loeb & Loeb LLP, as
Escrow Agent (the “Escrow Agreement”),
hereby instructs the Escrow Agent to release $2.40 per Share with respect to
[_________] Shares (an aggregate of $[________]) of the Escrowed Funds to the
account and in the amount specified below:

    

    
      	
               
      

            	
              ·

            	
              $[___________]
      to Seller [__], pursuant to the following wire transfer
      instructions:

            

    

     

    [WIRE INSTRUCTIONS]

     

    In
addition, the Company, pursuant to the Escrow Agreement, hereby instructs the
Escrow Agent to release 15.49 Escrowed Shares per Share with respect to
[_________] Shares (an aggregate of [________]) Escrowed Shares to
[SELLER].

     

    The
remainder of the Escrowed Funds and Escrowed Shares shall be held by the Escrow
Agent in accordance with the terms of the Escrow Agreement.

     

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned has caused this Release Notice to be duly
executed and delivered as of this ___ day of ____________, 2009.

     

    
      
        	
                SPRING
      CREEK ACQUISITION CORP.

              
	 
      	 
      
	
                By:

              	
                  

              
	 
      	
                Name:

              
	 
      	
                Title:

              
	 
      	 
      
	
                HONEST
      BEST INT’L LTD

              
	 
      	 
      
	
                By:

              	
                  

              
	 
      	
                Name:

              
	 
      	
                Title:

              

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    Exhibit B
to

    Escrow
Agreement

     

    RELEASE
REQUEST

     

    The
undersigned Seller, pursuant to the Escrow Agreement dated as of April 7, 2009
among the Company, the Sellers, AutoChina, the Shareholder and Loeb & Loeb
LLP, as Escrow Agent (the “Escrow Agreement”),
hereby notifies the Escrow Agent that the Company has failed to close on the
Shares pursuant to the attached exercise notice in accordance with the terms of
the Option Agreement, and instructs the Escrow Agent to notify the Company and
each of the Sellers of this Release Request.  In the event the Company
does not object to this Release Request within 10 business days from the date
the Escrow Agent provides notice hereof to the Company, the Escrow Agent is
hereby instructed to release and 15.49 Escrowed Shares per Share with respect to
[_________] Shares (an aggregate of [________]) Escrowed Shares to the Seller
and $2.40 per Share with respect to [_________] Shares (an aggregate of
$[________]) of the Escrowed Funds to the account and in the amount specified
below:

    

    
      	
               
      

            	
              ·

            	
              $[___________]
      to Seller [__], pursuant to the following wire transfer
      instructions:

            

    

     

    [WIRE INSTRUCTIONS]

     

    The
remainder of the Escrowed Funds and Escrowed Shares shall be held by the Escrow
Agent in accordance with the terms of the Escrow Agreement.

     

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned has caused this Release Notice to be duly
executed and delivered as of this ___ day of ____________, 2009.

    

    
      
        	
                [SELLER]

              
	 
      	 
      
	
                By:

              	
                  

              
	 
      	
                Name:

              
	 
      	
                Title:

              

      

    

     

    
      
         

      

      
        11

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