Document:

ESCROW
      AGREEMENT

    

    THIS
      ESCROW AGREEMENT (this “Agreement”)
      is
      dated as of the 29th day of August, 2005, among Goldstrike, Inc. (the
“Company”),
      Gran
      Tierra Energy, Inc. (“Gran
      Tierra”)
      and
      McGuireWoods LLP (the “Escrow
      Agent”).

     

    RECITALS:

     

    WHEREAS,
      the Company and Gran Tierra are parties to a certain Agreement of Merger and
      Plan of Reorganization pursuant to which a newly organized, wholly-owned
      subsidiary of the Company will merge with and into Gran Tierra, with Gran Tierra
      being the surviving entity (the “Merger”).
      Immediately after the effective time of the Merger (the “Merger Effective
      Date”),
      the
      Company will change its name to a name determined by Gran Tierra;

     

    WHEREAS,
      as a condition to the closing of the Merger, and to provide financing capital
      required by Gran Tierra to close on the acquisition of certain properties
      located in Argentina, the Company intends to offer and sell to accredited
      investors in a private placement transaction (the “Offering”),
      units
      (“Units”)
      consisting of 1 share of the Company’s common stock, par value $.001 per share
      (“Common
      Stock”)
      and a
      warrant (the “Investor
      Warrants”)
      to
      purchase .5 shares of Common Stock for five years at the exercise price of
      $0.625 per .5 shares;

     

    WHEREAS,
      the closing of the offering is conditioned on the receipt of acceptable
      subscriptions representing aggregate gross proceeds of at least $7,000,000
      (the
“Minimum
      Offering Amount”)
      and
      the receipt of a duly authorized certificate of the principal executive officer
      of Gran Tierra Energy, Inc. (“Gran
      Tierra”)
      certifying that all conditions precedent to the closing of the acquisition
      by
      Gran Tierra of certain properties located in Argentina have been satisfied
      (the
“Officer’s
      Certificate”)
      (the
      Minimum Offering Amount and the Officer’s Certificate are collectively referred
      to as the “Closing
      Conditions”);

     

    WHEREAS,
      the Offering will close only after the satisfaction of all Closing Conditions
      and is expected to close on or prior to September 1, 2005 (the “Closing
      Date”);
      

     

    WHEREAS,
      the investors in the Offering (the “Investors”),
      in
      connection with their intent to purchase Units in the Offering, shall execute
      and deliver Subscription Agreements (the “Subscription
      Agreements”)
      and
      Investor Questionnaires (the “Investor
      Questionnaires”)
      memorializing the Investors’ agreement to purchase and the Company’s agreement
      to sell the number of Units set forth therein (the “Investor’s
      Units”)
      at the
      purchase price of $0.80 per Unit (the “Purchase
      Price”)
      and
      Registration Rights Agreements (the “Registration
      Rights Agreements”)
      pursuant to which the Company will provide certain registration rights related
      to the shares of Common Stock underlying the Units and the Investor Warrants
      on
      the terms set forth therein and Stockholder Voting Agreements (the “Stockholder
      Voting Agreements”)
      pursuant to which the Investors will agree to vote the shares of Common Stock
      acquired in connection with their purchase of Investor’s Units for the person
      designated by the Company for election to the Company’s Board of Directors (the
      Subscription Agreements, Investor Questionnaires, Registration Rights Agreements
      and Stockholder Voting Agreements are collectively referred to as the
“Transaction
      Documents”);

     

    WHEREAS,
      the parties hereto desire to provide for the safekeeping of the Transaction
      Documents and the Escrowed Funds (as defined in Section 2.1 herein) until such
      time as the Transaction Documents and Escrowed Funds are released by the Escrow
      Agent in accordance with the terms and conditions of this Agreement;
      and

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    

     

    WHEREAS,
      the Escrow Agent is willing to serve as escrow agent pursuant to the terms
      and
      conditions of this Agreement.

     

    NOW
      THEREFORE, the parties agree as follows:

     

    ARTICLE
      I

    INTERPRETATION

     

    1.1. Entire
      Agreement.
      This
      Agreement and the Transaction Documents constitute the entire agreement between
      the parties hereto pertaining to the subject matter contained herein and
      supersede all prior agreements, understandings, negotiations and discussions,
      whether oral or written, of the parties. There are no warranties,
      representations or other agreements made by the parties in connection with
      the
      subject matter hereof except as specifically set forth in this Agreement or
      as
      set forth in the Transaction Documents.

     

    1.2. Extended
      Meanings.
      In this
      Agreement words importing the singular number include the plural and vice versa;
      words importing the masculine gender include the feminine and neuter genders.
      The word “person” includes an individual, body corporate, partnership, or other
      entity in whatever form, a trustee or trust or unincorporated association,
      an
      executor, administrator or legal representative.

     

    1.3. Waivers
      and Amendments.
      This
      Agreement may be amended, modified, superseded, cancelled, renewed or extended,
      and the terms and conditions hereof may be waived, only by a written instrument
      signed by all parties, or, in the case of a waiver, by the party waiving
      compliance. Except as expressly stated herein, no delay on the part of any
      party
      in exercising any right, power or privilege hereunder shall operate as a waiver
      thereof, nor shall any waiver on the part of any party of any right, power
      or
      privilege hereunder preclude any other or future exercise of any other right,
      power or privilege hereunder.

     

    1.4. Headings.
      The
      division of this Agreement into articles, sections, subsections and paragraphs
      and the insertion of headings are for convenience of reference only and shall
      not affect the construction or interpretation of this Agreement.

     

    1.5. Law
      Governing this Agreement.
      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. Any action
      brought by either party against the other concerning the transactions
      contemplated by this Agreement may be brought in the state courts of New York
      or
      in the federal courts located in the state of New York. The parties and the
      individuals executing this Agreement and other agreements referred to herein
      or
      delivered in connection herewith agree to submit to the jurisdiction of such
      courts. The prevailing party shall be entitled to recover from the other party
      its reasonable attorney’s fees and costs. In the event that any provision of
      this Agreement or any other agreement delivered in connection herewith is
      invalid or unenforceable under any applicable statute or rule of law, then
      such
      provision shall be deemed inoperative to the extent that it may conflict
      therewith and shall be deemed modified to conform with such statute or rule
      of
      law. Any such provision which may prove invalid or unenforceable under any
      law
      shall not affect the validity or enforceability of any other provision of any
      agreement.

     

    1.6. Specific
      Enforcement, Consent to Jurisdiction.
      The
      Company and Gran Tierra acknowledge and agree that irreparable damage would
      occur in the event that any of the provisions of this Agreement were not
      performed in accordance with their specific terms or were otherwise breached.
      It
      is accordingly agreed that the parties shall be entitled to an injunction or
      injunctions to prevent or cure breaches of the provisions of this Agreement
      and
      to enforce specifically the terms and provisions hereof or thereof, this being
      in addition to any other remedy to which any of them may be entitled by law
      or
      equity. Nothing in this Section shall affect or limit any right to serve process
      in any other manner permitted by law.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    

     

    ARTICLE
      II

    DELIVERIES
      TO THE ESCROW AGENT

     

    2.1. Subscriber
      Deliveries.
      On or
      before the Closing Date, each Investor shall have delivered to the Escrow Agent
      the full purchase price for the Investor’s Units (the aggregate of such purchase
      prices for all Subscribers being referred to as the “Escrowed
      Funds”)
      by
      wire transfer of immediately available funds pursuant to the wire transfer
      instructions provided below and the completed and executed Transaction Documents
      to the address provided below.

    

    Escrow
      Agent - Wire Transfer Instructions:

    

    BANK
      OF
      AMERICA - Jacksonville, FL

    ABA:
      026009593 (Domestic Wires)

    Swift
      Code: BOFAUS3N (International Wires)

    Credit:
      McGuireWoods LLP IOLTA Account

    Account
      Number: 2101206537

    Reference:
      Louis Zehil - Gran Tierra Escrow - 2046112-0001

    

    McGuireWoods
      Accounting Contact: Julie Aaron (804) 775-1224

    Bank
      Contact: Patrick Comia (888) 841-8159, Opt. 2, Ext. 2160

    

    Escrow
      Agent - Mailing Address and Facsimile Number:

    

    McGuireWoods
      LLP

    50
      North
      Laura Street

    Suite
      3300

    Jacksonville,
      Florida 32259

    Facsimile
      Number: (904) 798-3268

    Attention:
      Patricia Neuman

    Telephone
      Number: (904) 798-2627

     

    2.2. Intention
      to Create Escrow Over Transaction Documents and Escrowed Funds.
      The
      Company and Gran Tierra intend that the Transaction Documents and the Escrowed
      Funds shall be held in escrow by the Escrow Agent pursuant to this Agreement
      for
      their benefit and for the benefit of the Investors. The Escrow Agent shall
      provide copies of the Transaction Documents to the Company and Gran Tierra
      promptly after their receipt in order for the Company and Gran Tierra to
      determine whether to accept the subscriptions for the Investor’s Units evidenced
      thereby.

     

    2.3. Escrow
      Agent to Deliver Transaction Documents and Escrowed Funds.
      The
      Escrow Agent shall hold and release the Transaction Documents and the Escrowed
      Funds only in accordance with the terms and conditions of this
      Agreement.

     

    ARTICLE
      III

    RELEASE
      OF TRANSACTION DOCUMENTS AND ESCROWED FUNDS

     

    3.1. Release
      of Escrow.
      Subject
      to the provisions of Sections 4.1(d) and 4.2, the Escrow Agent shall release
      the
      Transaction Documents and Escrowed Funds as follows:

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    

     

    (a) Release
      of Escrowed Funds and Transaction Documents upon Closing.
      Prior
      to the Closing Date, the Company and Gran Tierra shall deliver to Escrow Agent
      joint written instructions (“Joint
      Instructions”)
      duly
      executed by their respective principal executive officer which Joint
      Instructions providing the day designated as the Closing Date, acknowledging
      and
      agreement that as of the Closing Date the Closing Conditions have been or will
      be fully satisfied and specifying the time, place and method of delivery of
      the
      Escrowed Funds and the Transaction Documents. Escrow Agent shall, at the time
      and place and by the method specified in the Joint Instructions, deliver the
      Escrowed Funds and the Transaction Documents.

     

    (b) Return
      of Escrowed Funds on Termination of Offering.
      In the
      event that the Escrow Agent shall have received written notice executed by
      the
      principal executive officer of each ofthe Company and Gran Tierra indicating
      that Offering has been terminated and designating a termination date, the Escrow
      Agent shall return to each Investor the purchase price and Transactions
      Documents delivered by such Investor to the Escrow Agent. The Company and Gran
      Tierra shall provide the Escrow Agent with time, place and method of delivery
      for each Investor whose purchase price and Transaction Documents the Escrow
      Agent is to deliver pursuant to this Section.

     

    (c) Return
      of Escrowed Funds and Transaction Documents on Rejection of
      Subscription.
      In the
      event the Company and Gran Tierra determine it necessary or appropriate to
      reject the subscription of any Investor for whom the Escrow Agent has received
      Escrowed Funds and Transaction Documents, the Company and Gran Tierra shall
      deliver written notice of such event to the Escrow Agent which notice shall
      include the time, place and method of delivery for the return to such Investor
      of the Purchase Price and Transaction Documents delivered by such Investor
      and
      the Escrow Agent shall deliver such funds and documents pursuant to such written
      notice.

     

    (e) Delivery
      Pursuant to Court Order.
      Notwithstanding an provision contained herein, upon receipt by the Escrow Agent
      of a final and non-appealable judgment, order, decree or award of a court of
      competent jurisdiction (a “Court
      Order”),
      the
      Escrow Agent shall deliver the Transaction Documents and the Escrowed Funds
      in
      accordance with the Court Order. Any Court Order shall be accompanied by an
      opinion of counsel for the party presenting the Court Order to the Escrow Agent
      (which opinion shall be satisfactory to the Escrow Agent) to the effect that
      the
      court issuing the Court Order has competent jurisdiction and that the Court
      Order is final and non-appealable.

     

    3.2. Acknowledgement
      of Company and Gran Tierra.
      The
      Company and Gran Tierra acknowledge that the only terms and conditions upon
      which the Transaction Documents and Escrowed Funds are to be released are set
      forth in Sections 3.1, 4.1(d) and 4.2 of this Agreement. The Company and Gran
      Tierra reaffirm their agreement to abide by the terms and conditions of this
      Agreement with respect to the release of the Transaction Documents and the
      Escrowed Funds. Any dispute with respect to the release of the Transaction
      Documents or Escrowed Funds shall be resolved pursuant to Section 4.2 or by
      agreement between the Company and Gran Tierra.

     

    ARTICLE
      IV

    CONCERNING
      THE ESCROW AGENT

     

    4.1. Duties
      and Responsibilities of the Escrow Agent.
      The
      Escrow Agent’s duties and responsibilities shall be subject to the following
      terms and conditions:

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    

     

    (a) The
      Company and Gran Tierra acknowledge and agree that the Escrow Agent
      (i) shall not be responsible for or bound by, and shall not be required to
      inquire into whether either the Company or Gran Tierra are entitled to receipt
      of the Transaction Documents or Escrowed Funds pursuant to, any other agreement
      or otherwise; (ii) shall be obligated only for the performance of such
      duties as are specifically assumed by the Escrow Agent pursuant to this
      Agreement; (iii) may rely on and shall be protected in acting or refraining
      from acting upon any written notice, instruction, instrument, statement, request
      or document furnished to it hereunder and believed by the Escrow Agent in good
      faith to be genuine and to have been signed or presented by the proper person
      or
      party, without being required to determine the authenticity or correctness
      of
      any fact stated therein or the propriety or validity or the service thereof;
      (iv) may assume that any person believed by the Escrow Agent in good faith
      to be authorized to give notice or make any statement or execute any document
      in
      connection with the provisions hereof is so authorized; (v) shall not be
      under any duty to give the property held by Escrow Agent hereunder any greater
      degree of care than Escrow Agent gives its own similar property, but in no
      event
      less than a reasonable amount of care; and (vi) may consult counsel
      satisfactory to Escrow Agent, the opinion of such counsel to be full and
      complete authorization and protection in respect of any action taken, suffered
      or omitted by Escrow Agent hereunder in good faith and in accordance with the
      opinion of such counsel.

     

    (b) The
      Company and Gran Tierra acknowledge that the Escrow Agent is acting solely
      as a
      stakeholder at their request and that the Escrow Agent shall not be liable
      for
      any action taken by Escrow Agent in good faith and believed by Escrow Agent
      to
      be authorized or within the rights or powers conferred upon Escrow Agent by
      this
      Agreement. The Company and Gran Tierra, jointly and severally, agree to
      indemnify and hold harmless the Escrow Agent and any of Escrow Agent’s partners,
      employees, agents and representatives for any action taken or omitted to be
      taken by Escrow Agent or any of them hereunder, including the fees of outside
      counsel and other costs and expenses of defending itself against any claim
      or
      liability under this Agreement, except in the case of gross negligence, willful
      misconduct or material breach of this Agreement on Escrow Agent’s part committed
      in its capacity as Escrow Agent under this Agreement. The Escrow Agent shall
      owe
      a duty only to the Company and Gran Tierra under this Agreement and to no other
      person.

     

    (c) The
      Company and Gran Tierra jointly and severally agree to reimburse the Escrow
      Agent for outside counsel fees, to the extent authorized hereunder and incurred
      in connection with the performance of its duties and responsibilities
      hereunder.

     

    (d) The
      Escrow Agent may at any time resign as Escrow Agent hereunder by giving five
      (5)
      days prior written notice of resignation to the Company and Gran Tierra. Prior
      to the effective date of the resignation as specified in such notice, the
      Company and Gran Tierra will issue to the Escrow Agent a Joint Instruction
      authorizing delivery of the Transaction Documents and the Escrowed Funds to
      a
      substitute Escrow Agent selected by the Company and Gran Tierra. If no successor
      Escrow Agent is named by the Company and Gran Tierra, the Escrow Agent may
      apply
      to a court of competent jurisdiction in the State of New York for appointment
      of
      a successor Escrow Agent, and to deposit the Transaction Documents and Escrowed
      Funds with the clerk of any such court.

     

    (e) The
      Escrow Agent does not have and will not have any interest in the Transaction
      Documents or the Escrowed Funds, but is serving only as escrow agent, having
      only possession thereof.

     

    (f) This
      Agreement sets forth exclusively the duties of the Escrow Agent with respect
      to
      any and all matters pertinent thereto, and no implied duties or obligations
      shall be read into this Agreement.

     

    (g) The
      provisions of this Section 4.1 shall survive the resignation of the Escrow
      Agent
      or the termination of this Agreement.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    

     

    4.2. Dispute
      Resolution: Judgments.
      Resolution of disputes arising under this Agreement shall be subject to the
      following terms and conditions:

     

    (a) If
      any
      dispute shall arise with respect to the delivery, ownership, right of possession
      or disposition of the Transaction Documents or the Escrowed Funds, or if the
      Escrow Agent shall in good faith be uncertain as to its duties or rights
      hereunder, the Escrow Agent shall be authorized, without liability to anyone,
      to
      (i) refrain from taking any action other than to continue to hold the
      Transaction Documents or the Escrowed Funds pending receipt of a Joint
      Instruction from the Company and Gran Tierra, or (ii) deposit the
      Transaction Documents and Escrowed Funds with any court of competent
      jurisdiction in the State of New York, in which event the Escrow Agent shall
      give written notice thereof to the Company and Gran Tierra and shall thereupon
      be relieved and discharged from all further obligations pursuant to this
      Agreement. The Escrow Agent may, but shall be under no duty to, institute or
      defend any legal proceedings which relate to the Transaction Documents or the
      Escrowed Funds. The Escrow Agent shall have the right to retain counsel if it
      becomes involved in any disagreement, dispute or litigation on account of this
      Agreement or otherwise determines that it is necessary to consult
      counsel.

     

    (b) The
      Escrow Agent is hereby expressly authorized to comply with and obey any Court
      Order. In case the Escrow Agent obeys or complies with a Court Order, the Escrow
      Agent shall not be liable to the Investors, the Company, Gran Tierra or to
      any
      other person, firm, corporation or entity by reason of such
      compliance.

     

    ARTICLE
      V

    GENERAL
      MATTERS

     

    5.1. Termination.
      This
      escrow shall terminate upon the disbursement in accordance with the provisions
      herein of the Transaction Documents and the Escrowed Funds in full or at any
      time upon the agreement in writing of the Company and Gran Tierra.

     

    5.2. Notices.
      All
      notices, demands, requests, consents, approvals, and other communications
      required or permitted hereunder shall be in writing and, unless otherwise
      specified herein, shall be (i) personally served, (ii) deposited in
      the mail, registered or certified, return receipt requested, postage prepaid,
      (iii) delivered by reputable air courier service with charges prepaid, or
      (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set
      forth below or to such other address as such party shall have specified most
      recently by written notice. Any notice or other communication required or
      permitted to be given hereunder shall be deemed effective (a) upon hand
      delivery or delivery by facsimile, with accurate confirmation generated by
      the
      transmitting facsimile machine, at the address or number designated below (if
      delivered on a business day during normal business hours where such notice
      is to
      be received), or the first business day following such delivery (if delivered
      other than on a business day during normal business hours where such notice
      is
      to be received) or (b) on the second business day following the date of
      mailing by express courier service, fully prepaid, addressed to such address,
      or
      upon actual receipt of such mailing, whichever shall first occur. The addresses
      for such communications shall be: 

     

    
      	
            	(a)	
              If
                to the Company, to:

            

    

     

    Goldstrike,
      Inc.

    1055
      West
      Hastings Street, Suite 1980

    Vancouver,
      British Columbia

    Canada

    V6E
      2E9

    Attention:
      Dr. Yenyou Zheng

    Telephone:
      (604) 688-8002

    Facsimile:
      (906) 688-8030

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    copy
      to:

    

    Gottbetter
      & Partners, LLP

    488
      Madison Avenue, 12th
      Floor

    New
      York,
      NY 10022

    Attention:
      Kenneth S. Goodwin, Esq.

    Telephone:
      (212) 400-6900

    Facsimile:
      (212) 400-6901

    

    

    
      	
            	(b)	
              If
                to Gran Tierra, to: 

            

    

    

    Gran
      Tierra Energy, Inc.

    10-
      8th
      Avenue
      SW, Tenth Floor

    Calgary,
      Alberta

    Canada

    T2P
      1G5

    Attention:
      Dana Coffield

    Telephone:
      (403) 537-7454

    Facsimile:
      (403) 537-7440

    

    copy
      to:

    

    McGuireWoods
      LLP

    1345
      Avenue of the Americas

    Seventh
      Floor

    New
      York,
      New York 10105

    Attention:
      Louis W. Zehil, Esq.

    Facsimile
      Number: (212) 548-2175

    

    

    
      	
            	(c)	
              If
                to the Escrow Agent, to:

            

    

    

    McGuireWoods
      LLP

    1345
      Avenue of the Americas

    Seventh
      Floor

    New
      York,
      New York 10105

    Attention:
      Louis W. Zehil, Esq.

    Facsimile
      Number: (212) 548-2175

     

    or
      to
      such other address as any of them shall give to the others by notice made
      pursuant to this Section 5.2.

     

    5.3. Interest.
      The
      Escrowed Funds shall not be held in an interest bearing account nor will
      interest be payable in connection therewith. In the event the Escrowed Funds
      are
      deposited in an interest bearing account, each Investor shall be entitled to
      receive its pro rata
      portion
      of any accrued interest thereon, but only if the Escrow Agent receives from
      such
      Investor the Investor’s United States taxpayer identification number and other
      requested information and forms.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    

     

    5.4. Assignment;
      Binding Agreement.
      Neither
      this Agreement nor any right or obligation hereunder shall be assignable by any
      party without the prior written consent of the other parties hereto. This
      Agreement shall enure to the benefit of and be binding upon the parties hereto
      and their respective legal representatives, successors and assigns.

     

    5.5. Invalidity.
      In the
      event that any one or more of the provisions contained herein, or the
      application thereof in any circumstance, is held invalid, illegal, or
      unenforceable in any respect for any reason, the validity, legality and
      enforceability of any such provision in every other respect and of the remaining
      provisions contained herein shall not be in any way impaired thereby, it being
      intended that all of the rights and privileges of the parties hereto shall
      be
      enforceable to the fullest extent permitted by law.

     

    5.6. Counterparts/Execution.
      This
      Agreement may be executed in any number of counterparts and by different
      signatories hereto on separate counterparts, each of which, when so executed,
      shall be deemed an original, but all such counterparts shall constitute but
      one
      and the same instrument. This Agreement may be executed by facsimile
      transmission and delivered by facsimile transmission.

     

    5.7. Agreement.
      Each of
      the undersigned states that he has read the foregoing Escrow Agreement and
      understands and agrees to it.

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [SIGNATURE
      PAGES FOLLOW]

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

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

    

    

    
      	 	
              GOLDSTRIKE,
                INC. 

            
	 	 
	 	
              By :
                ______________________________

            
	 	
              Name :_________________________

            
	 	
              Title :__________________________

            

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [SIGNATURE
      PAGES FOR GRAN TIERRA AND ESCROW AGENT FOLLOW]

    
      
         

      

      
        9

        
          

        

      

      
         

        
        

      

    

    	 	
            
              GRAN
                TIERRA ENERGY, INC.

            

          
	 	 
	 	
            By :
              ______________________________

          
	 	
            Name :_________________________

          
	 	
            Title :__________________________

          

    

     

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [SIGNATURE
      PAGE FOR ESCROW AGENT FOLLOWS]

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    
      	 	
              ESCROW
                AGENT

            
	 	
              McGuireWoods
                LLP

            
	 	 
	 	
              
                By :
                  ______________________________

              

            
	 	
              Name 
                Louis W. Zehil

            
	 	
              Title :
                Partner

            

    

     

    
 

    
      
         

      

      
        11NUMBER

              ________-

            	 	
              (SEE
                REVERSE SIDE FOR LEGEND)

              THIS
                WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 

              5:00
                P.M. NEW YORK CITY TIME, __________, 2010

            	 	
              WARRANTS

            

    

     

    EAST
      INDIA COMPANY ACQUISITION CORP.

    CUSIP
      ____________            

    WARRANT

    

    THIS
      CERTIFIES THAT, for value received

    

    is
      the
      registered holder of a Warrant or Warrants expiring ________, 2010 (the
“Warrant”) to purchase one fully paid and non-assessable share of Common Stock,
      par value $.0001 per share (“Shares”), of East India Company Acquisition Corp.,
      a Delaware corporation (the “Company”), for each Warrant evidenced by this
      Warrant Certificate. The Warrant entitles the holder thereof to purchase from
      the Company, commencing on the later of (i) the Company’s completion of a
      merger, capital stock exchange, asset acquisition or other similar business
      combination and (ii) ______________, 2007, such number of Shares of the Company
      at the price of $5.00 per share, upon surrender of this Warrant Certificate
      and
      payment of the Warrant Price at the office or agency of the Warrant Agent,
      Continental Stock Transfer & Trust Company, but only subject to the
      conditions set forth herein and in the Warrant Agreement between the Company
      and
      Continental Stock Transfer & Trust Company. The
      Company shall not be obligated to deliver any securities pursuant to the
      exercise of a Warrant and shall have no obligation to settle a Warrant exercise
      unless a registration statement under the Securities Act of 1933, as amended,
      (the “Act”) with respect to the Common Stock is effective, subject to the
      Company satisfying its obligations under Section 7.4 of the Warrant Agreement
      to
      use its best efforts. In the event that a registration statement with respect
      to
      the Common Stock underlying a Warrant is not effective under the Act, the holder
      of such Warrant shall not be entitled to exercise such Warrant and such Warrant
      may have no value and expire worthless. In no event will the Company be required
      to net cash settle the warrant exercise.
      The Warrant Agreement provides that upon the occurrence of certain events
      the Warrant Price and the number of Warrant Shares purchasable hereunder, set
      forth on the face hereof, may, subject to certain conditions, be adjusted.
      The
      term Warrant Price as used in this Warrant Certificate refers to the price
      per
      Share at which Shares may be purchased at the time the Warrant is
      exercised.

    No
      fraction of a Share will be issued upon any exercise of a Warrant. If the holder
      of a Warrant would be entitled to receive a fraction of a Share upon any
      exercise of a Warrant, the Company shall, upon such exercise, round up to the
      nearest whole number the number of Shares to be issued to such
      holder.

    Upon
      any
      exercise of the Warrant for less than the total number of full Shares provided
      for herein, there shall be issued to the registered holder hereof or the
      registered holder’s assignee a new Warrant Certificate covering the number of
      Shares for which the Warrant has not been exercised.

    Warrant
      Certificates, when surrendered at the office or agency of the Warrant Agent
      by
      the registered holder hereof in person or by attorney duly authorized in
      writing, may be exchanged in the manner and subject to the limitations provided
      in the Warrant Agreement, but without payment of any service charge, for another
      Warrant Certificate or Warrant Certificates of like tenor and evidencing in
      the
      aggregate a like number of Warrants.

    Upon
      due
      presentment for registration of transfer of the Warrant Certificate at the
      office or agency of the Warrant Agent, a new Warrant Certificate or Warrant
      Certificates of like tenor and evidencing in the aggregate a like number of
      Warrants shall be issued to the transferee in exchange for this Warrant
      Certificate, subject to the limitations provided in the Warrant Agreement,
      without charge except for any applicable tax or other governmental
      charge.

    The
      Company and the Warrant Agent may deem and treat the registered holder as the
      absolute owner of this Warrant Certificate (notwithstanding any notation of
      ownership or other writing hereon made by anyone), for the purpose of any
      exercise hereof, of any distribution to the registered holder, and for all
      other
      purposes, and neither the Company nor the Warrant Agent shall be affected by
      any
      notice to the contrary.

    This
      Warrant does not entitle the registered holder to any of the rights of a
      stockholder of the Company.

    The
      Company reserves the right to call the Warrant at any time prior to its
      exercise, with the prior consent of EarlyBirdCapital, Inc., with a notice of
      call in writing to the holders of record of the Warrant, giving 30 days’ notice
      of such call at any time after the Warrant becomes exercisable if the last
      sale
      price of the Shares has been at least $8.50 per share on each of 20 trading
      days
      within any 30 trading day period ending on the third business day prior to
      the
      date on which notice of such call is given. The call price of the Warrants
      is to
      be $.01 per Warrant. Any Warrant either not exercised or tendered back to the
      Company by the end of the date specified in the notice of call shall be canceled
      on the books of the Company and have no further value except for the $.01 call
      price.

     

    By

    

    
      	 	
              ________________________________

            	 	______________________________	 
	 	
              Secretary

            	
               

            	
              Chairman
                of the Board 

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SUBSCRIPTION
      FORM

    To
      Be Executed by the Registered Holder in Order to Exercise Warrants

    

    The
      undersigned Registered Holder irrevocably elects to exercise
      ______________ Warrants represented by this Warrant Certificate, and to
      purchase the shares of Common Stock issuable upon the exercise of such Warrants,
      and requests that Certificates for such shares shall be issued in the name
      of

     

    ____________________________________________________________________________________________________

                                                                        
      (PLEASE TYPE OR PRINT NAME AND ADDRESS)

    ____________________________________________________________________________________________________

     

    ____________________________________________________________________________________________________

     

    ____________________________________________________________________________________________________

                                                                    
      (SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

    and
      be delivered to
      _____________________________________________________________________________________

                                                                            
      (PLEASE
      PRINT OR TYPE NAME AND ADDRESS)

    
      ____________________________________________________________________________________________________

    

    and,
      if such number of Warrants shall not be all the Warrants evidenced by this
      Warrant Certificate, that a new Warrant Certificate 
for the balance of such
      Warrants be registered in the name of, and delivered to, the Registered Holder
      at the address stated below:

    

    
      	
              Dated:
                _____________________

            	
              ___________________________________________

            
	 	
              (SIGNATURE)

            
	 	
              ___________________________________________

            
	 	
              (ADDRESS)

            
	 	
              ___________________________________________

            
	 	
               

              ___________________________________________

            
	 	
              (TAX
                IDENTIFICATION NUMBER)

            

    

    

    ASSIGNMENT

    To
      Be Executed by the Registered Holder in Order to Assign Warrants

    

    For
      Value Received, _______________________ hereby sell, assign, and transfer unto
      

    
       

      ____________________________________________________________________________________________________

                                                                          
        (PLEASE TYPE OR PRINT NAME AND ADDRESS)

      ____________________________________________________________________________________________________

       

      ____________________________________________________________________________________________________

       

      ____________________________________________________________________________________________________

                                                                      
        (SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)

      and
        be delivered to
        _____________________________________________________________________________________

                                                                              
        (PLEASE
        PRINT OR TYPE NAME AND ADDRESS)

    ______________________
      of the Warrants represented by this Warrant Certificate, and hereby irrevocably
      constitute and appoint 

    _________________________________
      Attorney to transfer this Warrant Certificate on the books of the Company,
      with
      full power 

    of
      substitution in the premises.

    

    
      	
              Dated:
                _________________________

            	
              _________________________________

            
	 	
              (SIGNATURE)

            

    

     

    

      THE
        SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUST CORRESPOND TO THE
        NAME
        WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT
        ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED
        BY A
        COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF THE AMERICAN STOCK
        EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR CHICAGO STOCK
        EXCHANGE.

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