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Exhibit 10.17    
    

[GLOBALSTAR LETTERHEAD]  

4 October 2006 

Alcatel
Alenia Space France

12, rue de la Baume

75008 Paris, France 

Attention:
Pascale Sourisse 

	SUBJECT:	Authorization To Proceed

Re Construction of the Globalstar Second Generation Satellite Constellation — LEO Solution

Annex: (A) Regular Payment and Delivery Schedule

Annex: (B) Accelerated Payment and Delivery Schedule

Annex: (C) Aggressively Accelerated Payment and Delivery Schedule

Dear
Pascale: 

Globalstar, Inc.
("Globalstar") appreciates the discussions and proposals so far exchanged with Alcatel Alenia Space France
("Alcatel") with respect to the Construction of the Globalstar Second Generation Satellite Constellation — LEO Solution. Globalstar hopes
upon further negotiation to be able to enter into a definitive contract with Alcatel to procure 48 LEO satellites (the "Contract"). In the
interest of meeting program schedules as discussed by the parties, Globalstar hereby issues to Alcatel this Authorization to Proceed ("ATP") to commence
a portion of the work consistent with the detail and understandings as set forth herein. 

Upon
written acceptance of this ATP, Alcatel is authorized to proceed as follows: 

1)    Scope of Work  

Alcatel
shall proceed, during the effective period of this ATP, to (a) prepare for and conduct a Program Readiness Review ("PRR") at its facility, which it shall complete within approximately
one (1) month after the effective date of this ATP but in any event by 15 November 2006, consistent with Section 5.2 of the Statement of Work last exchanged between the parties
9 August 2006 (SOW) and the Globalstar II LEO Satellite Requirements Document GS-06-1128 (version 2.6) —
3474-05-0016R(4) Globalstar 2 LEO requirements_08082006, (b) the creation and definition of proposed work milestones to permit the parties, should they enter into
the Contract, to be able to agree on specific payment schedules based upon work progress, and (c) such other preparation work (in particular at subcontractors' level) as Alcatel believes can
reasonably be performed in order to maintain the schedules agreed to in Section 5 below. Alcatel shall provide all the items for the PRR as
outlined in Section 4.6 of the SOW, entitled Program Readiness Review Data Package. 

2)    Type of Contract  

The
parties agree that this ATP is limited to the scope of work set forth in Section 1 and payment set forth in  Section 4. It is specifically
acknowledged that this ATP does not contain all of the final terms and provisions that will be set forth in the
Contract, which will be negotiated in good faith between the parties based upon conditions which would be agreed upon during such negotiations, and if agreed upon would become effective and supersede
this ATP as set forth in Article 3. Nothing in this ATP binds either Globalstar or Alcatel to enter into the Contract, if such terms and provisions cannot be finally negotiated. 

 

3)    Effectiveness  

This
ATP will become effective on the date that Alcatel countersigns below and the Payment has been credited on Alcatel's bank account as indicated on the invoice, and unless terminated earlier
pursuant to Section 6, this ATP shall remain in effect until the sooner of (a) the date of entry into force of the Contract or
(b) 15 November 2006. If the Contract has not entered into force prior to the end of this ATP, then, unless extended in writing by the parties, this ATP shall terminate and Alcatel shall
be entitled to keep the full amount of the Payment. 

4)    Payment  

Under
this ATP and within five (5) working days of receipt of this ATP executed by Alcatel and an invoice from Alcatel, Globalstar shall make payment to Alcatel in the amount of EUR 7,727,975
(the "Payment"). Alcatel shall use the Payment to engage in the scope of work set forth in  Section 1. Globalstar's maximum liability under this ATP is
the Payment, unless such amount is increased in a writing signed by Globalstar and
Alcatel. 

5)    Concepts of Negotiations  

Globalstar
and Alcatel agree to continue to negotiate in good faith the terms and provisions of the Contract, with the understanding that the terms and provisions of such Contract shall not be binding
unless and until the Contract has entered into force. To date the parties have agreed upon the concepts set forth in this Section 5, including
the delivery dates and payment schedules included in the attached Annexes; no terms of the Contract shall be binding on the parties, however, unless and until the Contract has entered into force. 

(a)    The
Contract would be for the manufacture and delivery of 48 satellites and related services. Globalstar would contract with its own provider of launch services, with Alcatel
providing launch support services and operations support services (the "Services"). The Services are included in the pricing set forth in the attached
Annexes. 

(b)    The
Contract would provide for work to be done in three phases. Phase 1 would include non-recurring engineering and manufacture of a Proto Flight Model satellite
(PFM), Phase 2 would include the manufacture and delivery of 24 satellites with Services therefore, and Phase 3 would include the manufacture and delivery of 23 satellites with Services
therefore as well as delivery and Services for the PFM. 

(c)    Unless
the scheduling of Phase 3 were accelerated as set forth in Subsection 5(f) below, Globalstar would make payments
to Alcatel under the Contract as set forth in Annex A attached hereto, with an initial payment of EUR 19,319,938 made at signing of the Contract
(less the ATP Payment as stated in Subsection 5(g) below), and quarterly payments made thereafter, all as more specifically set forth on  Annex A.
All payments by Globalstar other than the initial payment set forth in  Subsection 5(g) below would be made no later than thirty days after receipt of invoice, each invoice to be issued at the
beginning of each
quarter. Annex A and all timing concepts set forth in this Section 5 are based upon the
assumption that the parties would agree to the Contract by 15 November 2006, and that the effective date of the Contract would be as of 1 October 2006. 

(d)    The
parties have agreed that the price of Services that would be performed by Alcatel under all phases of the Contract would be EUR 40,185,471 roughly spread equally between
Phase 2 and Phase 3, and not subject to any price adjustments. In addition to the price of the Services, the price-per-satellite for the satellites that would be
delivered in Phases 1, 2, and 3 if there were no hiatus in production (as set forth in Subsection 5(f) below and  Annexes B and C referenced
therein) would be EUR 12,132,921. The price-per-satellite for the satellites that would be delivered
during Phase 3 with a hiatus in production as set forth in Annex A would be increased to reflect Alcatel's actual increased costs 

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incurred
as a result of stopping and starting production prior to Phase 3, not to exceed EUR 1,213,292 per satellite. Therefore the total Contract price would be EUR 40,185,471 plus EUR 582,380,208
(48 × EUR 12,132,921) plus up to EUR 27,905,716) (i.e. 23 × EUR 1,213,292) for the increased price of the 23 satellites in Phase 3. 

(e)    Assuming
the payment schedule were to proceed in accordance with Annex A, delivery dates would be as set forth on  Annex A. 

(f)    Globalstar
would have the option to accelerate Phase 3 of the Contract in accordance with this Subsection 5(f). On or
before 1 July 2008, Globalstar could elect to give notice that it desired to accelerate the delivery of all or some portion of the satellites in Phase 3. 

In
such case if delivery of all of the satellites in Phase 3 were to be accelerated so that there was no hiatus in production of satellites by Alcatel (e.g., if Alcatel's entire production
schedule for Phase 3 were moved forward twenty-one months, as set forth in Annex B attached hereto or even more aggressively
as set forth in Annex C attached hereto), the total Contract price would be EUR 622,565,679. 

If
delivery were accelerated for some but less than all of the satellites in Phase 3, or for less than the twenty-one month hiatus in production, the price reduction would be
prorated based upon the number of satellites accelerated and the timing of their delivery. 

(g)    If
the parties were to enter into the Contract, the amount Globalstar would pay to Alcatel pursuant to Section 4 of this ATP
would be credited against the initial payment of EUR 19,319,938 that would be paid within five (5) working days of the signing by both parties of the Contract and receipt by Globalstar of the
invoice therefore. 

(h)    The
parties agree that up to EUR 146,831,530 of the Contract price as set forth in Subsections 5(d) and (f) shall be invoiced in
Euros but payable by Globalstar to Alcatel in US Dollars based on the
fixed EUR/US$ exchange rate of 1 Euro = US$ 1.2940. This amount will therefore not be subject to increase or decrease due to changes in exchange rates between the Euro and the US
Dollar. Globalstar will from time to time evaluate at its sole discretion its preferred timing during phase 1 and 2 for the invoicing by Alcatel of such portion of the price payable in USD. All other
payments and prices set forth in the Contract will be invoiced by and paid to Alcatel in Euros. 

(i)    Globalstar
could terminate the Contract at any time and for any reason by giving a notice of termination to Alcatel effective six (6) months following the date of such notice.
Globalstar would owe Alcatel all payments due pursuant to Annex A (as attached or as accelerated pursuant to  Subsection 5(f)) up to the effective date
of termination. This would be the full extent of Globalstar's termination liability to Alcatel. The
parties agree that an adequate form of security for Globalstar's payments under the Contract (in case of payment default by Globalstar and/or in case of stop-work and/or termination) would
need to be negotiated and agreed upon. It is also understood that any such security arrangement will include, among others, a stop-work mechanism and the adequate guarantee to cover
Contractor's cost of termination. 

6)    Termination or Expiration of ATP  

If
this ATP shall terminate for any reason in accordance with Section 3 or otherwise, Alcatel and Globalstar shall have no continuing obligation
to the other under, or in respect of, this ATP, except for (a) the terms set forth in Sections 7 and 8, and (b) the confidentiality
obligations under the Mutual Nondisclosure Agreement dated 5 October 2004 ("MNDA"). 

Except
as may be set forth in Section 7, Alcatel shall deliver to Globalstar all title in any and all work-in-progress
performed by Alcatel under this ATP that has been paid for by Globalstar and all intellectual property rights associated to such work-in-progress shall remain with Alcatel with 

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Globalstar
being granted an irrevocable, worldwide, non exclusive and royalty free right to use for its own purpose, and Globalstar shall retain all rights, title and interest in any and all effort or
work-in-progress, if any, performed or developed by Globalstar under this ATP. 

7)    Rights in Intellectual Property  

Alcatel
and Globalstar are parties to the MNDA, which shall continue in full force and not be affected by this ATP. The parties do not anticipate that during the short effective period of this ATP
there will be any intellectual property developed by either party. The parties agree that the ownership and rights relating to any intellectual property, if any, developed during the effective period
of this ATP shall be controlled by the Contract, if such Contract should be entered into. 

8)    Governing Law — Disputes  

This
ATP shall be interpreted, construed and governed, in all respects, according to the laws of the State of New York, U.S.A., without regard to its conflict of laws rules. 

Any
dispute or disagreement arising between the parties in connection with any interpretation of any provision of the ATP, or the compliance or non-compliance therewith, or the validity or
enforceability thereof, or any other dispute under any Article hereof which is not settled to the mutual satisfaction of the parties within thirty (30) Days (or such longer period as may be
mutually agreed) from the date that either party informs the other in writing that such dispute or disagreement exists, shall be settled by arbitration administered by the American Arbitration
Association under its Commercial Arbitration Rules and the Supplementary Procedures for Large, Complex Disputes in effect on the date that such notice is given, except as otherwise specified herein.
Arbitration seat shall be New York. 

In
no event shall either Party be liable to the other Party for incidental, indirect, consequential, punitive or special damages (including any loss of profit, loss of use or any other similar loss)
whether arising in contract, tort, strict liability or under any other theory of liability. 

9)    Assignment  

Neither
party shall assign its rights or obligations under this ATP, either in whole or in part, without the express written consent of the other party. 

10)  Entire Agreement and Amendment  

This
ATP constitutes the entire understanding and agreement between the parties with respect to the subject matter hereof, and supersedes all prior or contemporaneous negotiations, understandings and
agreements with respect to the subject matter hereof, except for the MNDA. The terms of this ATP may be modified only by an agreement in writing signed by the parties. 

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Please
acknowledge your receipt and acceptance of this ATP by signing this letter and returning it to Globalstar. Globalstar appreciates your continued support of our requirements. 

	Sincerely,	 
	
GLOBALSTAR, INC.	

 
	

/s/  JAMES MONROE III      
 By: James Monroe III

Title: Chairman and CEO

Date: October 4, 2006	

 
	
ALCATEL ALENIA SPACE FRANCE	

 
	

/s/  PASCALE SOURISSE      
 By: Pascale Sourisse

Title: President and CEO

Date: October 5, 2006	

 

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Exhibit 10.17Exhibit
4.4

FOUNDER
WARRANT CERTIFICATE

THIS WARRANT CERTIFICATE (I) CANNOT BE
TRANSFERRED OR EXCHANGED UNTIL SHERMEN WSC ACQUISITION CORP.’S COMPLETION OF A
BUSINESS COMBINATION AND (II) CANNOT BE EXERCISED IN WHOLE OR IN PART
UNTIL THE LATER OF THE COMPANY’S COMPLETION OF A BUSINESS COMBINATION OR [one year from date of prospectus], 2007.

EXERCISABLE ONLY IF COUNTERSIGNED BY
THE WARRANT

AGENT AS PROVIDED HEREIN.

Warrant Certificate evidencing

Warrants to Purchase Common Stock, par value $.0001, as
described herein.

Shermen WSC Acquisition Corp.

No. [       ]                                                                                               CUSIP
No. [                                    ]

VOID
AFTER 5:00 P.M., NEW YORK CITY TIME,

ON [four years from date of prospectus],
2010, OR UPON EARLIER REDEMPTION

This certifies that Shermen WSC Holding LLC, or its
registered assigns, is the registered holder of 2,642,857 warrants to purchase
certain securities (each a “Warrant”). 
Each Warrant entitles the holder thereof, subject to the provisions contained
herein and in the Warrant Agreement (as defined below), to purchase from Shermen
WSC Acquisition Corp., a Delaware corporation (the “Company”), one share of the Company’s Common Stock (each a “Share”), at the Exercise Price set forth
below.  The exercise price of each Warrant (the “Exercise Price”) shall be $5.00 initially,
subject to adjustments as set forth in the Warrant Agreement (as defined
below).

Subject to the terms of the Warrant Agreement, each
Warrant evidenced hereby may be exercised in whole, but not in part, at any
time, as specified herein, on any Business Day (as defined below) occurring
during the period (the “Exercise Period”)
commencing on the later of the Company’s completion of a Business Combination
(as defined below) or [one year from date of
prospectus], 2007 and ending at 5:00 P.M., New York City time,
on [four years from date of prospectus],
2010 (the “Expiration Date”). 
Each Warrant remaining unexercised after 5:00 P.M., New York City time on
the Expiration Date shall become void, and all rights of the holder of this
Warrant Certificate evidencing such Warrant shall cease.

The holder of the Warrants represented by this Warrant
Certificate may exercise any Warrant evidenced hereby by delivering, not later
than 5:00 P.M., New York City time, on any Business Day during the Exercise
Period (the “Exercise Date”) to
Continental Stock Transfer & Trust Company (the “Warrant Agent”, which term includes any successor warrant
agent under the Warrant Agreement described below) at its corporate trust
department at 17 Battery Place, New York, NY 10004, (i) this Warrant
Certificate and the Warrants to be exercised (the “Book-Entry Warrants”) free on the records of The Depository
Trust Company (the “Depository”)
to an account of the Warrant Agent at the Depository designated for such
purpose in writing by the Warrant Agent to the Depository, (ii) an election to
purchase (“Election to Purchase”),
properly executed (A) by the holder hereof on the reverse of this Warrant
Certificate or (B) properly executed by the institution in whose account the
Warrant is recorded on the records of the Depository (the “Participant”) substantially in the form
included on the reverse of hereof, as applicable and (iii) the Exercise
Price for each Warrant to be exercised in lawful money of the United States of
America by certified or official bank check or by bank wire transfer in
immediately available funds.  If any of (a) this Warrant Certificate or
the Book-Entry Warrants, (b) the Election to Purchase, or (c) the Exercise
Price therefor, is received by the Warrant Agent after 5:00 P.M., New York
City time, the Warrants will be deemed to be received and exercised on the
Business Day next succeeding the date such items are received and such date
shall be the Exercise Date for purposes hereof.  If the date such items are
received is not a Business Day, the Warrants will be deemed to be received and
exercised on the next succeeding day which is a Business Day and such date
shall be the Exercise Date. If the Warrants to be exercised are received or
deemed to be received after the Expiration Date, the exercise thereof will be
null and void and any funds delivered to the Warrant Agent will be returned to
the holder as soon as practicable.  In no event will interest accrue on
funds deposited with the Warrant Agent in respect of an exercise or attempted
exercise of Warrants.  The validity of any exercise of Warrants will be
determined by the Warrant Agent in its sole discretion and such determination
will be final and binding upon the holder of the

 

 

Warrants and the Company.  Neither the Warrant
Agent nor the Company shall have any obligation to inform a holder of Warrants
of the invalidity of any exercise of Warrants.

As used herein, the term “Business Day” means any day that is not a Saturday or Sunday
and is not a United States federal holiday or a day on which banking
institutions generally are authorized or obligated by law or regulation to
close in New York City.

As used herein, the term “Business Combination” shall mean the acquisition by the
Company, whether by merger, capital stock exchange, asset acquisition or stock
purchase or other similar business combination of an operating business (the “Target Business”) having, a fair market
value (as calculated in accordance with the Company’s Amended and Restated
Certificate of Incorporation) at least equal to 80% of the Company’s net assets
at the time of such merger, capital stock exchange, asset acquisition or stock
purchase or other similar business combination.

Warrants may be exercised only in whole numbers of
Warrants.  No fractional shares of Common Stock are to be issued upon the
exercise of any Warrant, but rather the number of shares of Common Stock to be
issued shall be rounded up to the nearest whole number.  If fewer than all
of the Warrants evidenced by this Warrant Certificate are exercised, a new
Warrant Certificate for the number of Warrants remaining unexercised shall be
executed by the Company and countersigned by the Warrant Agent as provided in
Section 2 of the Warrant Agreement, and delivered to the holder of this Warrant
Certificate at the address specified on the books of the Warrant Agent or as
otherwise specified by such registered holder.

This Warrant Certificate is issued under and in
accordance with the Founder Warrant Agreement, dated as of [                  ],
2006 (the “Warrant Agreement”),
between the Company and the Warrant Agent and the Founder Warrant Purchase
Agreement, dated as of
[                  ],
2006 (the “Founder Warrant Purchase Agreement”), between the Company and Shermen
WSC Holding LLC, and is subject to the terms and provisions contained in the
Warrant Agreement and the Founder Warrant Purchase Agreement, to all of which
terms and provisions the holder of this Warrant Certificate and the beneficial
owners of the Warrants represented by this Warrant Certificate consent by
acceptance hereof.  Copies of the Warrant Agreement and the Founder
Warrant Purchase Agreement are on file and can be inspected at the
above-mentioned office of the Warrant Agent and at the office of the Company at
c/o The Shermen Group, 1251 Avenue of the Americas, Suite 900, New York, New
York  10020.

At any time during the Exercise Period, the Company
may, at its option, redeem all (but not part) of the then outstanding Warrants
upon giving notice in accordance with the terms of the Warrant Agreement (the “Redemption Notice”), at the price of $0.01
per Warrant (the “Redemption Price”);
provided, that the last sales price of the Shares has been at least $8.50
per Share for any twenty (20) trading days within a thirty (30) consecutive
trading day period ending on the third Business Day prior to the date on which
the Redemption Notice is given.  In the event the Company shall elect to
redeem all of the then outstanding Warrants, the Company shall fix a date for
such redemption (the “Redemption Date”);
provided, that such date shall occur prior to the expiration of the
Exercise Period.  The Warrants may be exercised in accordance with the
terms of this Agreement at any time after a Redemption Notice shall have been
given by the Company; provided, however, that no Warrants may be
exercised subsequent to the expiration of the Exercise Period; provided,
further, that all rights whatsoever with respect to the Warrants shall
cease on the Redemption Date, other than to the right to receive the Redemption
Price. In addition, if the Company calls the outstanding Warrants for
redemption as provided above, the holder of the Warrants may exercise the
Warrants on a cashless basis.  Any Shares
issued on the exercise of the Warrants and transferred to the Company as
payment of the exercise price under this Warrant Certificate shall be valued
according each such Shares’ Fair Market Value (as defined in the Warrant
Agreement) or, if the Shares are then publicly traded in a Liquid Public Market
(as defined in the Warrant Agreement), the average of the closing prices for
the thirty (30) consecutive trading days preceding the date of exercise of the
Warrants.

The accrual of dividends, if any, on the Shares issued
upon the valid exercise of any Warrant will be governed by the terms generally
applicable to such Shares.  From and after the issuance of such Shares,
the former holder of the Warrants exercised will be entitled to the benefits
generally available to other holders of Shares and such former holder’s right
to receive payments of dividends and any other amounts payable in respect of
the Shares shall be governed by, and shall be subject to, the terms and
provisions generally applicable to such Shares.

 

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The Exercise Price and the number of Shares
purchasable upon the exercise of each Warrant shall be subject to adjustment as
provided pursuant to Section 4 of the Warrant Agreement.

Prior to the Company’s completion of a business
combination, the Warrants represented by this Warrant Certificate may not be
exchanged or transferred, except Shermen WSC Holding LLC may distribute the
Warrants to its members.  Upon due
presentment for registration of transfer or exchange of this Warrant
Certificate at the stock transfer division of the Warrant Agent, the Company
shall execute, and the Warrant Agent shall countersign and deliver, as provided
in Section 5 of the Warrant Agreement, in the name of the designated transferee
one or more new Warrant Certificates of any authorized denomination evidencing
in the aggregate a like number of unexercised Warrants, subject to the
limitations provided in the Warrant Agreement.

Neither this Warrant Certificate nor the Warrants
evidenced hereby shall entitle the holder hereof or thereof to any of the
rights of a holder of the Shares, including, without limitation, the right to
receive dividends, if any, or payments upon the liquidation, dissolution or
winding up of the Company or to exercise voting rights, if any.

The Warrant Agreement and this Warrant Certificate may
be amended as provided in the Warrant Agreement including, under certain
circumstances described therein, without the consent of the holder of this
Warrant Certificate or the Warrants evidenced thereby.

THIS WARRANT CERTIFICATE AND ALL RIGHTS HEREUNDER
AND UNDER THE WARRANT AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS FORMED AND TO BE PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICTS OF LAW PROVISIONS THEREOF TO THE EXTENT SUCH
PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF
ANOTHER JURISDICTION.

This Warrant Certificate shall not be entitled to any
benefit under the Warrant Agreement or be valid or obligatory for any purpose,
and no Warrant evidenced hereby may be exercised, unless this Warrant
Certificate has been countersigned by the manual signature of the Warrant
Agent.

IN WITNESS WHEREOF,
the Company has caused this instrument to be duly executed.  Dated as of [                   ],
2006.

	
   

  	
  Shermen WSC Acquisition Corp.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: G. Kenneth Moshenek

  Title:  
  President and Chief Operating Officer

  
	
   

  	
   

  	
   

  

Continental Stock
Transfer

& Trust Company,

as Warrant Agent

	
  By: 

  	
   

  	
   

  
	
  Authorized Officer

  	
   

  

 

 

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[REVERSE]

Instructions for Exercise of
Warrant

To exercise the Warrants evidenced hereby, the holder
or Participant must, by 5:00 P.M., New York City time, on the specified
Exercise Date, deliver to the Warrant Agent at its stock transfer division, a
certified or official bank check or a wire transfer in immediately available
funds, in each case payable to the Warrant Agent at Account No. [         ],
in an amount equal to the Exercise Price in full for the Warrants exercised or
inform the Warrant Agent that it is exercising the Warrants on a cashless basis.
In addition, the Warrant holder or Participant must provide the information
required below and deliver this Warrant Certificate to the Warrant Agent at the
address set forth below and the Book-Entry Warrants to the Warrant Agent in its
account with the Depository designated for such purpose.  The Warrant
Certificate and this Election to Purchase must be received by the Warrant Agent
by 5:00 P.M., New York time, on the specified Exercise Date.

ELECTION TO PURCHASE

TO BE EXECUTED IF WARRANT HOLDER DESIRES

TO EXERCISE THE WARRANTS EVIDENCED
HEREBY

The undersigned hereby irrevocably elects to exercise,
on
                    ,
         (the “Exercise Date”),
                          
Warrants, evidenced by this Warrant Certificate, to purchase,
                                  
of the shares of Common Stock (each a “Share”)
of Shermen WSC Acquisition Corp., a Delaware corporation (the “Company”), and represents that, on or
before the Exercise Date, such holder has tendered payment for such Shares by
certified or official bank check or bank wire transfer in immediately available
funds to the order of the Company c/o Continental Stock Transfer & Trust
Company, 17 Battery Place, New York, New York 10004, in the amount of
$                          
 or has informed the Warrant Agent that it
is exercising the Warrants on a cashless basis in accordance with the terms
hereof.  The undersigned requests that said number of Shares be in fully
registered form, registered in such names and delivered, all as specified in
accordance with the instructions set forth below.

If said number of Shares is less than all of the
Shares purchasable hereunder, the undersigned requests that a new Warrant
Certificate evidencing the remaining balance of the Warrants evidenced hereby
be issued and delivered to the holder of the Warrant Certificate unless
otherwise specified in the instructions below.

Dated:                                   ,
        

	
  Name

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  (Please Print)

  	 

	
  /  /  /  / -
  /  /  / -
  /  /  /  /  /

  	
   

  	
   

  	 

	
  (Insert Social Security

  	
   

  	
   

  	 

	
  or Other Identifying

  	
   

  	
   

  	 

	
  Number of Holder)

  	
  Address

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  
	
   

  	
  Signature

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
														

This Warrant may only be
exercised by presentation to the Warrant Agent at one of the following
locations:

By hand at: [                                                               ]

By mail at:  [                                                               ]

The method of delivery of this Warrant Certificate is
at the option and risk of the exercising holder and the delivery of this
Warrant Certificate will be deemed to be made only when actually received by
the Warrant Agent.  If delivery is by mail, registered mail with return
receipt requested, properly insured, is recommended.  In all cases,
sufficient time should be allowed to assure timely delivery.

 

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(Instructions as to form and delivery of Shares and/or
Warrant Certificates)

	
  Name in which Shares

  	
   

  	
   

  
	
  are to be registered if other than

  	
   

  	
   

  
	
  in the name of the registered holder

  	
   

  	
   

  
	
  of this Warrant Certificate:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address to which Shares

  	
   

  	
   

  
	
  are to be mailed if other than to the

  	
   

  	
   

  
	
  address of the registered holder of

  	
   

  	
   

  
	
  this Warrant
  Certificate as shown on

  	
   

  	
   

  
	
  the books of the Warrant Agent:

  	
   

  	
   

  
	
   

  	
   

  	
  (Street Address)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (City and State) (Zip Code)

  
	
   

  	
   

  	
   

  
	
  Name in which Warrant Certificate

  	
   

  	
   

  
	
  evidencing unexercised Warrants, if any,

  	
   

  	
   

  
	
  are to be registered if other than in the

  	
   

  	
   

  
	
  name of the registered holder of this

  	
   

  	
   

  
	
  Warrant Certificate:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address to which certificate representing

  	
   

  	
   

  
	
  unexercised Warrants, if any, are to be

  	
   

  	
   

  
	
  mailed if other than to the address of

  	
   

  	
   

  
	
  the registered holder of this Warrant

  	
   

  	
   

  
	
  Certificate as shown on the books of

  	
   

  	
   

  
	
  the Warrant Agent:

  	
   

  	
   

  
	
   

  	
   

  	
  (Street Address)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (City and State) (Zip Code)

  

 

	
   

  	
   

  	
  Dated:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature must conform in all
  respects to the name of the holder as specified on the face of this Warrant
  Certificate. If Shares, or a Warrant Certificate evidencing unexercised
  Warrants, are to be issued in a name other than that of the registered holder
  hereof or are to be delivered to an address other than the address of such
  holder as shown on the books of the Warrant Agent, the above signature must
  be guaranteed by an Eligible Guarantor Institution (as that term is defined
  in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended).

  

SIGNATURE
GUARANTEE

	
  Name of Firm

  	
   

  	
   

  
	
  Address

  	
   

  	
   

  
	
  Area Code

  	
   

  
	
  And Number

  	
   

  	
   

  
				

 

5

 

	
  Authorized

  	
   

  	
   

  
	
   Signature

  	
   

  	
   

  
	
  Name

  	
   

  	
   

  
	
  Title

  	
   

  	
   

  
	
  Dated:

  	
   

  	
  , 20

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
						

 

6

 

ASSIGNMENT

(FORM OF ASSIGNMENT TO BE EXECUTED IF
WARRANT HOLDER

DESIRES TO TRANSFER WARRANTS EVIDENCED HEREBY)

FOR VALUE RECEIVED,                                                    HEREBY
SELL(S), ASSIGN(S) AND TRANSFER(S) UNTO

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  (Please print name and address

  	
   

  	
  (Please insert social security or

  	
   

  
	
  including zip code of assignee)

  	
   

  	
  other identifying number of assignee)

  	
   

  

the rights represented by the within Warrant
Certificate and does hereby irrevocably constitute and appoint
                        
Attorney to transfer said Warrant Certificate on the books of the Warrant Agent
with full power of substitution in the premises.

	
  Dated:

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature

  	
   

  
	
   

  	
   

  
	
   

  	
  (Signature must conform in all
  respects to the name of the holder as specified on the face of this Warrant
  Certificate and must bear a signature guarantee by an Eligible Guarantor
  Institution (as that term is defined in Rule 17Ad-15 of the Securities
  Exchange Act of 1934, as amended).

  

 

SIGNATURE GUARANTEE

	
  Name of Firm

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Area Code

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  and Number

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Authorized

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signature

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
  , 

  	
  20

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]