Document:

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Exhibit 4.4

THE REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL
NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD OF ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED
BELOW) TO ANYONE OTHER THAN AN ENTITY CONTROLLED BY OR UNDER COMMON CONTROL WITH THE REGISTERED
HOLDER.

THIS PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF THE CONSUMMATION BY CHINA HEALTHCARE
ACQUISITION CORP. OF A MERGER, CAPITAL STOCK EXCHANGE, ASSET ACQUISITION OR OTHER SIMILAR BUSINESS
COMBINATION (“BUSINESS COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION
STATEMENT (DEFINED HEREIN) OR                     , 2007. VOID AFTER 5:00 P.M. EASTERN TIME,
                    , 2011.

MANAGEMENT UNIT PURCHASE OPTION

For the Purchase of

2,500,000 Units

of

CHINA HEALTHCARE ACQUISITION CORP.

1. Purchase Option.

     THIS CERTIFIES THAT, in consideration of $500 duly paid by or on behalf of [Jack Kang, Alwin
Tan and/or their respective affiliates] (“Holder”), as registered owner of this Purchase Option, to
China Healthcare Acquisition Corp. (“Company”), Holder is entitled, at any time or from time to
time upon the later of the consummation of a Business Combination or                     , 2007 (“Commencement
Date”), and at or before 5:00 p.m., Eastern Time,                     , 2011 (“Expiration Date”), but not
thereafter, to subscribe for, purchase and

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receive, in whole or in part, up to Two Million Five Hundred Thousand (2,500,000) units
(“Units”) of the Company, each Unit consisting of one share of common stock of the Company, par
value $.0001 per share (“Common Stock”), and two warrants (“Warrant(s)”) expiring five years from
the effective date (“Effective Date”) of the Company’s registration statement on Form S-1
(“Registration Statement”) pursuant to which Units are offered for sale to the public (“Offering”).
Each Warrant is the same as the warrant included in the Units being registered for sale to the
public by way of the Registration Statement (“Public Warrants”) except that the Warrants included
in the Purchase Option have an exercise price of $6.25 per share (125% of the exercise price of the
Public Warrants), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is
a day on which banking institutions are authorized by law to close, then this Purchase Option may
be exercised on the next succeeding day which is not such a day in accordance with the terms
herein. During the period ending on the Expiration Date, the Company agrees not to take any action
that would terminate the Purchase Option. This Purchase Option is initially exercisable at $7.50
per Unit (125% of the price of the Units sold in the Offering) so purchased; provided, however,
that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by
this Purchase Option, including the exercise price per Unit and the number of Units (and shares of
Common Stock and Warrants) to be received upon such exercise, shall be adjusted as therein
specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted
exercise price, depending on the context.

2. Exercise.

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

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

“The securities represented by this certificate have not been registered under the
Securities Act of 1933, as amended (“Act”) or applicable state law. The securities
may not be offered for sale, sold or otherwise transferred 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 Common Stock and Warrants) in the manner required by Section 2.1, the
Holder shall have the right (but not the obligation) to convert any exercisable but unexercised
portion of this Purchase Option into Units (“Conversion Right”) as follows: upon exercise of the

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Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of
any of the Exercise Price in cash) that number of Units equal to the quotient obtained by dividing
(x) the “Value” (as defined below) of the portion of the Purchase Option being converted by (y) the
Current Market Price (as defined below) of a Unit. The “Value” of the portion of the Purchase
Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise
Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being
converted from (b) the Current Market Price of a Unit multiplied by the number of Units underlying
the portion of the Purchase Option being converted. The “Current Market Price” of a Unit shall
mean (i) if the Unit is listed on a national securities exchange or quoted on the Nasdaq National
Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board
Exchange), the average closing price of a Unit for thirty (30) trading days immediately preceding
the date of determination of the Current Market Price in the principal trading market for the Unit
as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Unit is not listed
on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market
or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in
the residual over-the-counter market, the closing bid price for the Unit on the last trading day
preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or
similar publisher of such quotations; and (iii) if the fair market value of the Unit cannot be
determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the
Company (the “Board”) shall determine, in good faith.

          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 the Purchase Option with a 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.

3. Transfer.

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

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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 Gersten
Savage 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 the
offer and sale of such securities has been filed by the Company and declared effective by the
Securities and Exchange Commission and compliance with applicable state securities law has been
established.

4. New Purchase Options to be Issued.

     4.1 Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof,
this Purchase Option may be exercised or assigned in whole or in part. In the event of the
exercise or assignment hereof in part only, upon surrender of this Purchase Option for
cancellation, together with the duly executed exercise or assignment form and funds sufficient to
pay any Exercise Price and/or transfer tax if exercised pursuant to Section 2.1 hereto, the Company
shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to
this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the
number of Units purchasable hereunder as to which this Purchase Option has not been exercised or
assigned.

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

5. Registration Rights.

     5.1 Demand Registration.

          5.1.1 Grant of Right. The Company, upon written demand (“Demand Notice”) of the
Holder(s) of at least 51% of the Purchase Options and/or the underlying Units and/or the underlying
securities (“Majority Holders”), agrees to register on one occasion, all or any portion of the
Common Stock, the Warrants and the Common Stock underlying the Warrants underlying such Purchase
Options (collectively, the “Registrable Securities”) as requested by the Majority Holders in the
Demand Notice, provided that no such registration will be required unless the Holders request
registration of an aggregate of at least 51% of the outstanding Registrable Securities. On such
occasion, the Company will file a new registration statement or a post-effective amendment to the
Registration Statement covering the Registrable Securities within sixty days after receipt of the
Demand Notice and use its best efforts to have such registration statement or post-effective
amendment declared effective as soon as possible thereafter. The demand for registration may be
made at any time during a period of four years beginning on the first anniversary of the Effective
Date. The Company covenants and agrees to give written

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notice of its receipt of any Demand Notice by any Holder(s) to all other registered Holders of
the Purchase Options and/or the Registrable Securities within ten days from the date of the receipt
of any such Demand Notice, who shall have five days from the receipt of such Notice in which to
notify the Company of their desire to have their Registrable Securities included in the
Registration Statement.

          5.1.2 Terms. The Company shall bear all fees and expenses attendant to registering
the Registrable Securities, including the reasonable expenses of any legal counsel selected by the
Holders to represent them in connection with the sale of the Registrable Securities, but the
Holders shall pay any and all underwriting commissions, if any. The Company agrees to use its
commercially reasonable efforts to qualify or register the Registrable Securities in such States as
are reasonably requested by the Majority Holder(s); provided, however, that in no event shall the
Company be required to register the Registrable Securities in a State in which such registration
would cause (i) the Company to be obligated to qualify to do business in such State or execute a
general consent to service of process, or would subject the Company to taxation as a foreign
corporation doing business in such jurisdiction or (ii) the principal stockholders of the Company
to be obligated to escrow their shares of capital stock of the Company. The Company shall 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 twelve consecutive months from the
effective date of such registration statement or post-effective amendment or until the Holders have
completed the distribution of the Registrable Securities included in the Registration Statement,
whichever occurs first.

          5.1.3. Deferred Filing. If (i) in the good faith judgment of the Board, filing a
registration statement pursuant to Section 5.1 would be seriously detrimental to the Company and
the Board concludes, as a result, that it is essential to defer the filing of such registration
statement at such time, and (ii) the Company shall furnish to such Holders a certificate signed by
the President of the Company stating that in the good faith judgment of the Board it would be
seriously detrimental to the Company for such registration statement to be filed in the near future
and that it is, therefore, essential to defer the filing of such registration statement, then the
Company shall have the right to defer such filing on two occasions for an aggregate of not more
than one hundred and twenty (120) days in any twelve-month period.

          5.1.4. No Cash Settlement Option. The Company is only required to use its best efforts
to cause a registration statement covering issuance of the Registrable Securities to be declared effective, and once effective, only to use its best efforts to
maintain the effectiveness of the registration statement. The Company will not be obligated to
deliver any Registrable Securities, and there are no contractual penalties for
failure to deliver any such securities, if a
registration statement is not effective at the time of exercise. The
failure or inability of the Company to maintain the effectiveness of
such registration statement shall not in any way prevent the
expiration of this Purchase Option on the Expiration Date. Additionally, in no event is the
Company obligated to settle any Purchase Option, in whole or in part, for cash.

     5.2 “Piggy-Back” Registration.

          5.2.1 Grant of Right. In addition to the demand right of registration, the Holders of
the Purchase Options shall have the right for a period of seven years commencing on the Effective
Date, to include the Registrable Securities as part of any other registration of

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securities filed by the Company (other than in connection with a transaction contemplated by
Rule 145(a) promulgated under the Act or pursuant to Form S-8 or any successor or equivalent form);
provided, however, that if, in the written opinion of the Company’s managing underwriter or
underwriters, if any, for such offering, the inclusion of the Registrable Securities, when added to
the securities being registered by the Company or the selling stockholder(s), will exceed the
maximum amount of the Company’s securities which can be marketed (i) at a price reasonably related
to their then current market value, and (ii) without materially and adversely affecting the entire
offering, then the Company will still be required to include the Registrable Securities, but may
require the Holders to agree, in writing, to delay the sale of all or any portion of the
Registrable Securities for a period of 90 days from the effective date of the offering, provided,
further, that if the sale of any Registrable Securities is so delayed, then the number of
securities to be sold by all stockholders in such public offering shall be apportioned pro rata
among all such selling stockholders, including all holders of the Registrable Securities, according
to the total amount of securities of the Company owned by said selling stockholders, including all
holders of the Registrable Securities.

          5.2.2 Terms. The Company shall bear all fees and expenses attendant to registering
the Registrable Securities, including the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities, but the Holders shall pay
any and all underwriting commissions. In the event of such a proposed registration, the Company
shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen
days written notice prior to the proposed date of filing of such registration statement. Such
notice to the Holders shall continue to be given for each applicable registration statement filed
(during the period in which the Purchase Option is exercisable) by the Company until such time as
all of the Registrable Securities have been registered and sold. The holders of the Registrable
Securities shall exercise the “piggy back” rights provided for herein by giving written notice,
within ten business days of the receipt of the Company’s notice of its intention to file a
registration statement. The Company shall cause any registration statement filed pursuant to the
above “piggyback” rights that does not relate to a firm commitment underwritten offering to remain
effective for at least nine consecutive months from the effective date of such registration
statement or until the Holders have completed the distribution of the Registrable Securities in the
registration statement, whichever occurs first.

     5.3 Damages. Intentionally omitted.

     5.4 General Terms.

          5.4.1 Indemnification. The Company shall indemnify the Holder(s) of the Registrable
Securities to be sold pursuant to any registration statement hereunder and each person, if any, who
controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of the
Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage,
expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against litigation, commenced or threatened, or
any claim whatsoever) to which any of them may become subject under the Act, the Exchange Act or
otherwise, arising from such registration statement but only to the same extent and with the same
effect as the provisions pursuant to which the Company has agreed to indemnify the underwriters
contained in Section 5 of the Underwriting Agreement in the

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Offering. The Holder(s) of the Registrable Securities to be sold pursuant to such
registration statement, and their successors and assigns, shall severally, and not jointly,
indemnify the Company, its officers and directors and each person, if any, who controls the Company
within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss,
claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which
they may become subject under the Act, the Exchange Act or otherwise, arising from information
furnished by or on behalf of such Holders, or their successors or assigns, in writing, for specific
inclusion in such registration statement to the same extent and with the same effect as the
provisions contained in Section 5 of the Underwriting Agreement pursuant to which the underwriters
have agreed to indemnify the Company.

          5.4.2 Exercise of Purchase Options. Nothing contained in this Purchase Option shall
be construed as requiring the Holder(s) to exercise their Purchase Options or Warrants underlying
such Purchase Options prior to or after the initial filing of any registration statement or the
effectiveness thereof; provided however, that if the Company shall exercise its right to redeem the
Public Warrants, the Holders shall, on or prior to the date fixed for such redemption, exercise
this Unit Purchase Option in full.

          5.4.3 Documents Delivered to Holders. The Company shall furnish Ferris, as
representative of the Holders participating in any of the foregoing offerings, a signed
counterpart, addressed to the participating Holders, of (i) an opinion of counsel to the Company,
dated the effective date of such registration statement (or, 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; provided however, that in the case of
an underwritten offering, the provisions of the underwriting agreement described in Section 5.4.4
shall control. The Company shall also deliver promptly to Ferris, as representative of the Holders
participating in the offering, the correspondence and memoranda described below and copies of all
correspondence between the Commission and the Company, its counsel or auditors and all memoranda
relating to discussions with the Commission or its staff with respect to the registration statement
and permit Ferris, as representative of the Holders, to do such investigation, upon reasonable
advance notice, with respect to information contained in or omitted from the registration statement
as it deems reasonably necessary to comply with applicable securities laws or rules of the National
Association of Securities Dealers, Inc. (“NASD”). Such investigation shall include access to
books, records and properties and opportunities to discuss the business of the Company with its
officers and independent auditors, all to such reasonable extent and at such reasonable times and
as often as Ferris, as representative of the Holders, shall reasonably request. The Company shall
not be required to disclose any confidential information or other records to Ferris, as
representative of the Holders, or to any

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other person, until and unless such persons shall have entered into confidentiality agreements
(in form and substance reasonably satisfactory to the Company) with the Company with respect
thereto.

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

          5.4.5 Rule 144 Sale. Notwithstanding anything contained in this Section 5 to the
contrary, the Company shall have no obligation pursuant to Sections 5.1 or 5.2 for the registration
of Registrable Securities held by any Holder, where such Holder would then be entitled to sell
under Rule 144 within any three-month period (or such other period prescribed under Rule 144 as may
be provided by amendment thereof) all of the Registrable Securities then held by such Holder.

          5.4.6 Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice
from the Company of the happening of any event as a result of which the prospectus included in the
Registration Statement, as then in effect, includes an untrue statement of a material fact or omits
to state a material fact required to be stated therein or necessary to make the statements therein
not misleading in light of the circumstances then existing, or that would otherwise require
disclosure of material nonpublic information that, if disclosed at such time, would be materially
harmful to the Company, 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, or the public disclosure
and dissemination of such information, as the case may be, and, if so desired by the Company, such
Holder shall deliver to the Company (at the expense of the Company) or destroy (and deliver to the
Company a certificate of such destruction) all

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copies, other than permanent file copies then in such Holder’s possession, of the prospectus
covering such Registrable Securities current at the time of receipt of such notice.

6. Adjustments.

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

          6.1.1 Stock Dividends; Split Ups. If after the date hereof, and subject to the
provisions of Section 6.3 below, the number of outstanding shares of Common Stock is increased by a
stock dividend payable in shares of Common Stock or by a split up of shares of Common Stock or
other similar event, then, on the effective day thereof, the number of shares of Common Stock
underlying each of the Units purchasable hereunder shall be increased in proportion to such
increase in outstanding shares. In such case, the number of shares of Common Stock, and the
exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable
hereunder shall be adjusted in accordance with the terms of the Warrant Agreement governing the
Warrants (the “Warrant Agreement”). For example, if the Company declares a two-for-one stock
dividend and at the time of such dividend this Purchase Option is for the purchase of one Unit at
$7.50 per whole Unit (the Warrant underlying the Units is exercisable for $6.25 per share), upon
effectiveness of the dividend, this Purchase Option will be adjusted to allow for the purchase of
one Unit at $7.50 per Unit, each Unit entitling the holder to receive two shares of Common Stock
and four Warrants (each Warrant exercisable for $3.125 per share).

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

          6.1.3 Replacement of Securities upon Reorganization, etc. In case of any
reclassification or reorganization of the outstanding shares of Common Stock other than a change
covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such shares of
Common Stock, or in the case of any merger or consolidation of the Company with or into another
corporation (other than a consolidation or merger in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding
shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity
of the property of the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter
(until the expiration of the right of exercise of this Purchase Option) to receive upon the
exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such
event, the kind and amount of shares of stock or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a
dissolution following any such sale or transfer, by a Holder of the

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number of shares of Common Stock of the Company obtainable upon exercise of this Purchase
Option and the underlying Warrants immediately prior to such event; and if any reclassification
also results in a change in shares of Common Stock covered by Section 6.1.1 or 6.1.2, then such
adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions
of this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations,
mergers or consolidations, sales or other transfers.

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

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

     6.3 Elimination of Fractional Interests. The Company shall not be required to issue
certificates representing fractions of shares of Common Stock or Warrants upon the exercise of the
Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional
interests, it being the intent of the parties that all fractional interests shall be eliminated by
rounding any fraction up to the nearest whole number of Warrants, shares of Common Stock or other
securities, properties or rights.

7. Reservation and Listing. The Company shall at all times reserve and keep available out
of its authorized shares of Common Stock, solely for the purpose of issuance upon exercise of the
Purchase Options or the Warrants underlying the Purchase Option, such number of shares of Common
Stock or other securities, properties or rights as shall be issuable upon the exercise thereof.
The Company covenants and agrees that, upon exercise of the Purchase Options and payment of the
Exercise Price therefor, in accordance with the terms hereby, all shares of Common Stock and other
securities issuable upon such exercise shall be duly and validly issued, fully paid and
non-assessable and not subject to preemptive rights of any stockholder. The Company further
covenants and agrees that upon exercise of the Warrants underlying the Purchase Options and payment
of the respective Warrant exercise price therefor, in accordance with the terms of the Warrant
Agreement, all shares of Common Stock and other securities

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issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not
subject to preemptive rights of any stockholder. As long as the Purchase Options shall be
outstanding, the Company shall use its commercially reasonable efforts to cause all (i) shares of
Common Stock issuable upon exercise of the Purchase Options, (ii) Warrants issuable upon exercise
of the Purchase Options and (iii) shares of Common Stock issuable upon exercise of the Warrants
included in the Units issuable upon exercise of the Purchase Option to be listed (subject to
official notice of issuance) on all securities exchanges (or, if applicable on the Nasdaq National
Market, SmallCap Market, OTC Bulletin Board or any successor trading market) on which the Units,
Common Stock or the Public Warrants issued to the public in the Offering 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 Holders the right to vote or consent or to receive notice as a stockholder for the
election of directors or any other matter, or as having any rights whatsoever as a stockholder of
the Company. If, however, at any time prior to the expiration of the Purchase Options and their
exercise, any of the events described in Section 8.2 shall occur, then, in one or more of said
events, the Company shall give written notice of such event at least fifteen days prior to the date
fixed as a record date or the date of closing the transfer books for the determination of the
stockholders entitled to such dividend, distribution, conversion or exchange of securities or
subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or
sale. Such notice shall specify such record date or the date of the closing of the transfer books,
as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy
of each notice given to the other stockholders of the Company at the same time and in the same
manner that such notice is given to the stockholders.

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

     8.3 Notice of Change in Exercise Price. The Company shall, promptly after an event
requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holders
of such event and change (“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 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

11

 

hand delivered, or mailed by express mail or private courier service: (i) If to the
registered Holder of the Purchase Option, to the address of such Holder as shown on the books of
the Company, or (ii) if to the Company, to following address or to such other address as the
Company may designate by notice to the Holders:

China Healthcare Acquisition Corp.

1233 Encino Drive

Pasadena, CA 91108

Attn: Alwin Tan

9. Miscellaneous.

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

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

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

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

     10.2 Governing Law; Submission to Jurisdiction. This Purchase Option shall be
governed by and construed and enforced in accordance with the laws of the State of Maryland,
without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding
or claim against it arising out of, or relating in any way to this Purchase Option shall be brought
and enforced in the courts of the State of Maryland or of the United States of America for the
Southern District of Maryland, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and
that such courts represent an inconvenient forum. Any process or summons to be served upon the
Company may be served by transmitting a copy thereof by registered or

12

 

certified mail, return receipt requested, postage prepaid, addressed to it at the address set
forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal and
binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that
the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies)
all of its reasonable attorneys’ fees and expenses relating to such action or proceeding and/or
incurred in connection with the preparation therefor.

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

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

     10.5 Exchange Agreement. As a condition of the Holder’s receipt and acceptance of
this Purchase Option, Holder agrees that, at any time prior to the complete exercise of this
Purchase Option by Holder, if the Company and Ferris 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.

[Remainder of page deliberately left blank]

13

 

     IN WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly
authorized officer as of the ___ day of                     , 2006.

	 	 	 	 	 	 	 
	 	 	CHINA HEALTHCARE ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Alwin Tan	 	 
	 	 	Its: Chief Executive Officer	 	 

14

 

Form to be used to exercise Purchase Option:

China Healthcare Acquisition Corp.

1233 Encino Drive

Pasadena, CA 91108

Attn: Alwin Tan

Date:                     , 200___

          The undersigned hereby elects irrevocably to exercise the within Purchase Option and to
purchase ___ Units of China Healthcare Acquisition Corp. and hereby makes payment of
$                     (at the rate of $                     per Unit) in payment of the Exercise Price pursuant
thereto. Please issue the Common Stock and Warrants as to which this Purchase Option is exercised
in accordance with the instructions given below.

or

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

	 	 	 
	 

	 	 
	 

	 	Signature
	 
	 	 
	 

	 	 
	 

	 	Signature Guaranteed

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

	 	 	 
	Name:
	 	 
	 

	 	 
	 

	 	(Print in Block Letters)
	 
	 	 
	Address:
	 	 
	 

	 	 

          NOTICE: The signature to this form must correspond with the name as written upon the face of
the within Purchase Option in every particular without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or
by a firm having membership on a registered national securities exchange.

15

 

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

Dated:                                         , 200_

	 	 	 
	 

	 	 
	 

	 	Signature
	 
	 	 
	 

	 	 
	 

	 	Signature Guaranteed

          NOTICE: The signature to this form must correspond with the name as written upon the face of
the within Purchase Option in every particular without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or
by a firm having membership on a registered national securities exchange.

16exv4w5

 

Exhibit 4.5

FORM OF WARRANT AGREEMENT

     This Agreement made as
of                  
  , 2006 between China Healthcare Acquisition Corp., a
Delaware corporation, with offices at 1233 Encino Drive, Pasadena, California 91108
(“Company”), and American Stock Transfer & Trust Company, a New York corporation, with
offices at                  
                  
      (“Warrant Agent”).

     WHEREAS, the Company is
engaged in a public offering (“Public Offering”) of Units
(“Units”) and, in connection therewith, has determined to issue and deliver (i) up to
                   
  Warrants, including               
       Warrants that may be issued to Ferris, Baker Watts,
Incorporated (“FBW”) upon exercise of its over-allotment option, (“Public
Warrants”) to the public investors, and (ii) up to 1,000,000 Warrants to FBW or its designees
(“Underwriter’s Warrants”) and (iii) up to 5,000,000 Warrants to the Chairman of the
Board
of Directors of the Company (“Insider’s Warrants” and, together with the Public Warrants
and the Underwriter’s Warrants, the “Warrants”), each Warrant evidencing the right of the
holder thereof to purchase one share of common stock, par value $.0001 per share, of the Company’s
Common Stock (“Common Stock”) for $6.00 (or, with respect to the Underwriter’s warrants,
$7.50), subject to adjustment as described herein; and

     WHEREAS, the Company has filed
with the Securities and Exchange Commission a Registration
Statement, No. 333-___ on Form S-1 (“Registration Statement”) for the
registration,
under the Securities Act of 1933, as amended (“Act”) of, among other securities, the
Warrants and the Common Stock issuable upon exercise of the Warrants; and

     WHEREAS, the Company desires
the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing to so act, in connection with the issuance, registration, transfer,
exchange, redemption and exercise of the Warrants; and

     WHEREAS, the Company desires
to provide for the form and provisions of the Warrants, the terms
upon which they shall be issued and exercised, and the respective rights, limitation of rights, and
immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

     WHEREAS, all acts and things
 have been done and performed which are necessary to make the
Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant
Agent, as provided herein, the valid, binding and legal obligations of the Company, and to
authorize the execution and delivery of this Agreement.

     NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto
agree as follows:

     1. Appointment of
Warrant Agent. The Company hereby appoints the Warrant Agent to act
as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment
and agrees to perform the same in accordance with the terms and conditions set forth in this
Agreement.

     2. Warrants.

     2.1 Form of Warrant.
Each Warrant shall be issued in registered form only, shall be in
substantially the form of Exhibit A hereto, the provisions of which are incorporated herein
and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief
Executive Officer or President, and Chief Financial Officer, Secretary or Assistant Secretary of
the Company and shall bear a facsimile of the Company’s seal. In the event the person whose
facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in
which such person signed the Warrant before such Warrant is issued, it may be issued with the same
effect as if he or she had not ceased to be such at the date of issuance.

 

 

     2.2 Effect of
 Countersignature. Unless and until countersigned by the Warrant Agent
pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by
the holder thereof.

     2.3 Registration.

     2.3.1 Warrant Register.
The Warrant Agent shall maintain books (“Warrant
Register”), for the registration of original issuance and the registration of transfer of the
Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the
Warrants in the names of the respective holders thereof in such denominations and otherwise in
accordance with instructions delivered to the Warrant Agent by the Company.

     2.3.2 Registered Holder.
Prior to due presentment for registration of transfer of any
Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant
shall be registered upon the Warrant Register (“Registered Holder”), as the absolute owner
of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership
or other writing on the Warrant Certificate made by anyone other than the Company or the Warrant
Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the
Company nor the Warrant Agent shall be affected by any notice to the contrary.

     2.4 Detachability of
Warrants. The securities comprising the Units will not be
separately transferable until 90 days after the date hereof unless FBW informs the Company of its
decision to allow earlier separate trading, but in no event will FBW allow separate trading of the
securities comprising the Units until the Company files a Current Report on Form 8-K which includes
an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public
Offering including the proceeds received by the Company from the exercise of the Underwriter’s
over-allotment option, if the over-allotment option is exercised prior to the filing of the Form
8-K.

     3. Terms and Exercise
of Warrants.

     3.1 Warrant Price.
Each Warrant shall, when countersigned by the Warrant Agent,
entitle the registered holder thereof, subject to the provisions of such Warrant and of this
Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated
therein, at the price of $5.00 per whole share, subject to the adjustments provided in Section 4
hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this
Warrant Agreement refers to the price per share at which Common Stock may be purchased at the time
a Warrant is exercised. The Company in its discretion may lower the Warrant Price at any time prior
to the Expiration Date; provided, however, that the any change in the Warrant Price must apply
equally to all of the Warrants. The Underwriter’s Warrants shall have the same terms and be in the
same form as the Public Warrants, except that the Underwriter’s Warrants shall have an exercise
price of $6.25 per whole share, subject to adjustment as provided in Section 4 hereof. The
Insider’s Warrants shall have the same terms and be in the same form as the Underwriter’s Warrants.

     3.2 Duration of Warrants.
 A Warrant may be exercised only during the period
(“Exercise Period”) commencing on the later of the consummation by the Company of a merger,
capital stock exchange, asset acquisition or other similar business combination (“Business
Combination”) (as described more fully in the Company’s Registration Statement) or   
   ,
2007, and terminating at 5:00 p.m., New York City local time on the earlier to occur of (i)
        , 2011 or (ii) the date fixed for redemption of the Warrants as
provided in Section 6 of this
Agreement (“Expiration Date”). Except with respect to the right to receive the Redemption
Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the Expiration
Date shall become void, and all rights thereunder and all rights in respect thereof under this
Agreement shall cease at the close of business on the Expiration Date. The Company in its sole
discretion may extend the duration of the Warrants by delaying the Expiration Date; provided,
however, that any extension of the duration of the Warrants must apply equally to all of the
Warrants.

     3.3 Exercise of Warrants.

     3.3.1 Payment. Subject to the provisions of the Warrant and this Warrant Agreement, a
Warrant, when countersigned by the Warrant Agent, may be exercised by the registered holder thereof
by surrendering it, at the office of the Warrant Agent, or at the office of its successor as
Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form,
as set forth in the Warrant, duly executed, and by paying in full,

2

 

in lawful money of the United States, in cash, good
certified check or good bank draft payable
to the order of the Company (or as otherwise agreed to by the Company), the Warrant Price for each
full share of Common Stock as to which the Warrant is exercised and any and all applicable taxes
due in connection with the exercise of the Warrant, the exchange of the Warrant for the Common
Stock, and the issuance of the Common Stock.

     3.3.2 Issuance of
Certificates. As soon as practicable after the exercise of any
Warrant and the clearance of the funds in payment of the Warrant Price, the Company shall issue to
the registered holder of such Warrant a certificate or certificates for the number of full shares
of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by
him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned
Warrant for the number of shares as to which such Warrant shall not have been exercised.
Notwithstanding the foregoing, the Company shall not be obligated to deliver any securities
pursuant to the exercise of a Warrant unless a registration statement under the Act with respect to
the Common Stock is effective. Warrants may not be exercised by, or securities issued to, any
registered holder in any state in which such exercise would be unlawful. In no event shall the
Company be obligated to settle any Warrant, in whole or in part, for
cash. Notwithstanding any language to
the contrary herein, any and all Warrants can expire unexercised or unredeemed.

     3.3.3 Valid Issuance.
All shares of Common Stock issued upon the proper exercise of a
Warrant in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

     3.3.4 Date of Issuance.
Each person in whose name any such certificate for shares of
Common Stock is issued shall for all purposes be deemed to have become the holder of record of such
shares on the date on which the Warrant was surrendered and payment of the Warrant Price was made,
irrespective of the date of delivery of such certificate, except that, if the date of such
surrender and payment is a date when the stock transfer books of the Company are closed, such
person shall be deemed to have become the holder of such shares at the close of business on the
next succeeding date on which the stock transfer books are open.

     4. Adjustments.

     4.1 Stock Dividends —
Split-Ups. If after the date hereof, and subject to the
provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a
stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock, or
other similar event, then, on the effective date of such stock dividend, split-up or similar event,
the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in
proportion to such increase in outstanding shares of Common Stock.

     4.2 Aggregation of Shares.
 If after the date hereof, and subject to the provisions of
Section 4.6, the number of outstanding shares of Common Stock is decreased by a consolidation,
combination, reverse stock split or reclassification of shares of Common Stock or other similar
event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of
each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common
Stock.

     4.3 Adjustments in
 Exercise Price. Whenever the number of shares of Common Stock
purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 and 4.2
above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price
immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number
of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such
adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so
purchasable immediately thereafter.

     4.4 Replacement of
Securities upon Reorganization, etc. In case of any
reclassification or reorganization of the outstanding shares of Common Stock (other than a change
covered by Section 4.1 or 4.2 hereof or that solely affects the par value of such shares of Common
Stock), or in the case of any merger or consolidation of the Company with or into another
corporation (other than a consolidation or merger in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding
shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity
of the assets or other property of the Company as an entirety or substantially as an entirety in
connection with which the Company is

3

 

dissolved, the Warrant holders shall thereafter have
the right to purchase and receive, upon
the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of
Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of
the rights represented thereby, the kind and amount of shares of stock or other securities or
property (including cash) receivable upon such reclassification, reorganization, merger or
consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder
would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately
prior to such event; and if any reclassification also results in a change in shares of Common Stock
covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2,
4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

     4.5 Notices of Changes
in Warrant. Upon every adjustment of the Warrant Price or the
number of shares issuable upon exercise of a Warrant, the Company shall give written notice thereof
to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and
the increase or decrease, if any, in the number of shares purchasable at such price upon the
exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts
upon which such calculation is based. Upon the occurrence of any event specified in Sections 4.1,
4.2, 4.3 or 4.4, then, in any such event, the Company shall give written notice to the Warrant
holder, at the last address set forth for such holder in the warrant register, of the record date
or the effective date of the event. Failure to give such notice, or any defect therein, shall not
affect the legality or validity of such event.

     4.6 No Fractional
Shares. Notwithstanding any provision contained in this Warrant
Agreement to the contrary, the Company shall not issue fractional shares upon exercise of Warrants.
If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be
entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, round up or down to the nearest whole number the number of the
shares of Common Stock to be issued to the Warrant holder.

     4.7 Form of Warrant.
The form of Warrant need not be changed because of any adjustment
pursuant to this Section 4, and Warrants issued after such adjustment may state the same Warrant
Price and the same number of shares as is stated in the Warrants initially issued pursuant to this
Agreement. However, the Company may at any time in its sole discretion make any change in the form
of Warrant that the Company may deem appropriate and that does not affect the substance thereof,
and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an
outstanding Warrant or otherwise, may be in the form as so changed.

     5. Transfer and
Exchange of Warrants.

     5.1 Registration of
Transfer. The Warrant Agent shall register the transfer, from time
to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for
transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate
number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The
Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon
request.

     5.2 Procedure for Surrender
 of Warrants. Warrants may be surrendered to the Warrant
Agent, together with a written request for exchange or transfer, and thereupon the Warrant Agent
shall issue in exchange therefor one or more new Warrants as requested by the registered holder of
the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however,
that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant
Agent has received an opinion of counsel for the Company stating that such transfer may be made and
indicating whether the new Warrants must also bear a restrictive legend.

     5.3 Fractional Warrants.
The Warrant Agent shall not be required to effect any
registration of transfer or exchange which will result in the issuance of a warrant certificate for
a fraction of a warrant.

     5.4 Service Charges.
No service charge shall be made for any exchange or registration
of transfer of Warrants.

4

 

     5.5 Warrant Execution and
Countersignature. The Warrant Agent is hereby authorized to
countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required
to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by
the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the
Company for such purpose.

     6. Redemption.

     6.1 Redemption. Subject
to Section 6.4 hereof, not less than all of the outstanding
Warrants may be redeemed, at the option of the Company, at any time after they become exercisable
and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in
Section 6.2, at the price of $.01 per Warrant (“Redemption Price”), provided that the last
sales price of the Common Stock has been at least $8.50 per share, on each of twenty (20) trading
days within any thirty (30) trading day period ending on the third business day prior to the date
on which notice of redemption is given; and provided further that the Company may not exercise the right to
redeem the Warrants pursuant to this Section 6 unless a registration
statement meeting the requirements of Rule 427 under the Act is
effective during the entirety of the Redemption Period (as defined in
Section 6.2) covering the sale of the shares of common stock issuable
upon exercise of the Warrants. The provisions of this Section 6.1 may not be modified,
amended or deleted without the prior written consent of FBW. FBW is an intended third party
beneficiary of this Section 6.1.

     6.2 Date Fixed for, and
Notice of, Redemption. In the event the Company shall elect to
redeem all of the Warrants, the Company shall fix a date for the redemption. Notice of redemption
shall be mailed by first class mail, postage prepaid, by the Company not less than 30 days prior to
the date fixed for redemption (the “Redemption Period”) to the registered holders of the Warrants to be redeemed at their
last addresses as they shall appear on the registration books. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given whether or not the
registered holder received such notice.

     6.3 Exercise After Notice
of Redemption. The Warrants may be exercised in accordance
with Section 3 of this Agreement at any time after notice of redemption shall have been given by

the Company pursuant to Section 6.2 hereof and prior to the time and date fixed for redemption. On
and after the redemption date, the record holder of the Warrants shall have no further rights
except to receive, upon surrender of the Warrants, the Redemption Price.

     6.4 Outstanding Warrants
Only. The Company understands that the redemption rights
provided for by this Section 6 apply only to outstanding Warrants. To the extent a person holds
rights to purchase Warrants, such purchase rights shall not be extinguished by redemption. However,
once such purchase rights are exercised, the Company may redeem the Warrants issued upon such
exercise provided that the criteria for redemption is met. The provisions of this Section 6.4 may
not be modified, amended or deleted without the prior written consent of FBW.

     7. Other Provisions
 Relating to Rights of Holders of Warrants.

     7.1 No Rights as
Stockholder. A Warrant does not entitle the registered holder thereof
to any of the rights of a stockholder of the Company, including, without limitation, the right to
receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or
to receive notice as stockholders in respect of the meetings of stockholders or the election of
directors of the Company or any other matter.

     7.2 Lost, Stolen,
Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen,
mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or
otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the
Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a
substitute contractual obligation of the Company, whether or not the allegedly lost, stolen,
mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

     7.3 Reservation of
 Common Stock. The Company shall at all times reserve and keep
available a number of its authorized but unissued shares of Common Stock that will be sufficient to
permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

     7.4 Registration of
Common Stock. The Company agrees that prior to the commencement of
the Exercise Period, it shall file with the Securities and Exchange Commission a post-effective
amendment to the Registration Statement, or a new registration statement, for the registration,
under the Act, of, and it shall take such

5

 

action as is necessary to qualify for sale, in those
states in which the Warrants were
initially offered by the Company, the Common Stock issuable upon exercise of the Warrants. In
either case, the Company will use its best efforts to cause the same to become effective and to
maintain the effectiveness of such registration statement until the expiration of the Warrants in
accordance with the provisions of this Agreement (except in connection with a going private
transaction). Notwithstanding the foregoing, the failure or inability of the
Company to cause to become effective or to maintain the effectiveness
of such registration statement shall not in any way prevent the
expiration of the Warrants as provided in Section 3.2 of this
Agreement. The provisions of this Section 7.4 may not be modified, amended or deleted without
the prior written consent of FBW.

     8. Concerning the
 Warrant Agent and Other Matters.

     8.1 Payment of Taxes.
 The Company will from time to time promptly pay all taxes and
charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or
delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be
obligated to pay any transfer taxes in respect of the Warrants or such shares.

     8.2 Resignation,
Consolidation, or Merger of Warrant Agent.

     8.2.1 Appointment of
 Successor Warrant Agent. The Warrant Agent, or any successor to
it hereafter appointed, may resign its duties and be discharged from all further duties and
liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company
shall fail to make such appointment within a period of 30 days after it has been notified in
writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who
shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent,
whether appointed by the Company or by such court, shall be a corporation organized and existing
under the laws of the State of New York, in good standing and having its principal office in the
Borough of Manhattan, City and State of New York, and authorized under such laws to exercise
corporate trust powers and be subject to supervision or examination by federal or state authority.
After appointment, any successor Warrant Agent shall be vested with all the authority, powers,
rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if
originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at
the expense of the Company, an instrument transferring to such successor Warrant Agent all the
authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any
successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all
instruments in writing for more fully and effectually vesting in and confirming to such successor
Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

     8.2.2 Notice of Successor
Warrant Agent. In the event a successor Warrant Agent shall
be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the
transfer agent for the Common Stock not later than the effective date of any such appointment.

     8.2.3 Merger or
Consolidation of Warrant Agent. Any corporation into which the Warrant
Agent may be merged or with which it may be consolidated or any corporation resulting from any
merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

     8.3 Fees and Expenses
of Warrant Agent.

     8.3.1 Remuneration.
The Company agrees to pay the Warrant Agent reasonable
remuneration for its services as such Warrant Agent hereunder and will reimburse the Warrant Agent
upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of
its duties hereunder.

     8.3.2 Further
Assurances. The Company agrees to perform, execute, acknowledge, and
deliver or cause to be performed, executed, acknowledged, and delivered all such further and other
acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the
carrying out or performing of the provisions of this Agreement.

6

 

     8.4 Liability of Warrant
 Agent.

     8.4.1 Reliance on Company
Statement. Whenever in the performance of its duties under
this Warrant Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed)
may be deemed to be conclusively proved and established by a statement signed by the Chief
Executive Officer, President or Chairman of the Board of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good
faith by it pursuant to the provisions of this Agreement.

     8.4.2 Indemnity. The
 Warrant Agent shall be liable hereunder only for its own
negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and
save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except
as a result of the Warrant Agent’s negligence, willful misconduct, or bad faith.

     8.4.3 Exclusions. The
Warrant Agent shall have no responsibility with respect to the
validity of this Agreement or with respect to the validity or execution of any Warrant (except its
countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to
make any adjustments required under the provisions of Section 4 hereof or be responsible for the
manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that
would require any such adjustment; nor shall it by any act hereunder be deemed to make any
representation or warranty as to the authorization or reservation of any shares of Common Stock to
be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock
will when issued be valid and fully paid and nonassessable.

     8.5 Acceptance of Agency. The Warrant Agent hereby accepts the agency established by
this Agreement and agrees to perform the same upon the terms and conditions herein set forth and
among other things, shall account promptly to the Company with respect to Warrants exercised and
concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the
purchase of shares of the Company’s Common Stock through the exercise of Warrants.

     9. Miscellaneous
 Provisions.

     9.1 Successors.
 All the covenants and provisions of this Agreement by or for the
benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective
successors and assigns.

     9.2 Notices.
Any notice, statement or demand authorized by this Warrant Agreement to
be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be
sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail
or private courier service within five days after deposit of such notice, postage prepaid,
addressed (until another address is filed in writing by the Company with the Warrant Agent), as
follows:

China Healthcare Acquisition Corp.

1233 Encino Drive

Pasadena, California 91108

Attn: President

     Any notice, statement or
 demand authorized by this Agreement to be given or made by the holder
of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so
delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Warrant Agent with the Company), as follows:

7

 

American Stock Transfer & Trust
Company

59 Maiden Lane

New York, NY 10038

Attn: Herbert J. Lemmer, General Counsel

with a copy in each case to:

Venable LLP

8010 Towers Crescent Drive

Suite 300

Vienna, Virginia 22182

Attn: Elizabeth R. Hughes, Esq.

and:

Ferris, Baker Watts, Incorporated

100 Light Street

Baltimore, Maryland 21202

Attn: Richard K. Prins

and:

Gersten Savage, LLP

600 Lexington Avenue

New York, New York 10022

Attn: Arthur Marcus, Esq.

     9.3 Applicable law.

 The validity, interpretation, and performance of this Agreement
and of the Warrants shall be governed in all respects by the laws of the State of New York, without
giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in
the courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The Company hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenience forum. Any such process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall
be deemed personal service and shall be legal and binding upon the Company in any action,
proceeding or claim.

     9.4 Persons Having
Rights under this Agreement. Nothing in this Agreement expressed
and nothing that may be inferred from any of the provisions hereof is intended, or shall be
construed, to confer upon, or give to, any person or corporation other than the parties hereto and
the registered holders of the Warrants and, for the purposes of Sections 2.5, 6.1, 6.4, 7.4 and 9.2
hereof, FBW, any right, remedy, or claim under or by reason of this Warrant Agreement or of any
covenant, condition, stipulation, promise, or agreement hereof. FBW shall be deemed to be a
third-party beneficiary of this Agreement with respect to Sections 2.5, 6.1, 6.4, 7.4, 7.5 and 9.2
hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant
Agreement shall be for the and exclusive benefit of the parties hereto (and FBW with respect to the
Sections 2.5, 6.1, 6.4, 7.4, 7.5 and 9.2 hereof) and their successors and assigns and of the
registered holders of the Warrants.

     9.5 Examination of the
Warrant Agreement. A copy of this Agreement shall be available
at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and
State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may
require any such holder to submit his Warrant for inspection by it.

     9.6 Counterparts.
This Agreement may be executed in any number of counterparts and
each of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute but one and the same instrument.

8

 

     9.7 Effect of Headings.
 The Section headings herein are for convenience only and are
not part of this Warrant Agreement and shall not affect the interpretation thereof.

[Remainder of this page intentionally left
 blank; signature page follows.]

9

 

     IN WITNESS WHEREOF, this
 Agreement has been duly executed by the parties hereto as of the day
and year first above written.

	 	 	 	 	 
	 	 	Attest:

	 	 	
CHINA HEALTHCARE ACQUISITION CORP.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 	 	Name: Alwin Tan
	 	 	Title: President and Chief Executive Officer
	 
	 	 	 	 
	 	 	Attest:

AMERICAN STOCK TRANSFER & TRUST

COMPANY
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name: [           
         ]
	 

	 	 	 	Title: [           
         ]

10

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