Document:

WARRANT
      AGREEMENT

     

    This
      Warrant Agreement (this “Warrant Agreement”) dated as of ___________, 2008, by
      and between Spring Creek Acquisition Corp. a Cayman Islands company with offices
      at 10F, Room#1005, Fortune Int’l Building, No.17, North DaLiuShu Road, Hai Dian
      District, Beijing 100081, People’s Republic of China (“Company”), and American
      Stock Transfer & Trust Company, with offices at 59 Maiden Lane, New York,
      New York 10038, as warrant agent ( the “Warrant Agent”).

     

    WHEREAS,
      the Company is engaged in a public offering (“Public Offering”) of Units, each
      comprised of one of the Company’s Ordinary Shares (as hereinafter defined) and
      one Warrant (as hereinafter defined) (the “Units”) and, in connection therewith,
      has determined to issue and deliver (i) up to 5,175,000 Warrants (“Public
      Warrants”) to the public investors, (ii) 1,430,000 Warrants to the Company’s
      founding shareholders (the “Placement Warrants”) in a concurrent private
      placement pursuant to that certain Subscription Agreement dated
      ________________, 2008 (the “Subscription Agreement”) and (iii) 450,000 Warrants
      to EarlyBird Capital, Inc. the representative (the “Representative”) of the
      underwriters (the “Underwriters”) with respect to the Public Offering, or to the
      Representative’s designees (“Representative’s Warrants” and, together with the
      Public Warrants and the Placement Warrants, the “Warrants”), each of such
      Warrants evidencing the right of the holder thereof to purchase one ordinary
      share, par value $.001 per share, of the Company (“Ordinary Share”) for $5.00;
      and

     

    WHEREAS,
      the Company has filed with the Securities and Exchange Commission (the “SEC”) a
      Registration Statement, No. 333-147284 on Form S-1 (as may be amended from
      time
      to time) (“Registration Statement”) for the registration under the Securities
      Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants
      and the Representative’s Warrants and the Ordinary Share issuable upon exercise
      of the Public Warrants and the Representative’s 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, exercise and cancellation 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. Each Public Warrant, Placement
      Warrant and Representative Warrant shall be in substantially the forms,
      respectively, of Exhibit
      A-1,
      Exhibit
      A-2 and
      Exhibit
      A-3
      hereto,
      the provisions of which are incorporated herein, and shall be signed by, or
      bear
      the facsimile signature of, the Chairman of the Board or Chief Executive Officer
      and Chief Financial Officer, Treasurer, 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
      Ordinary Shares and Warrants comprising the Units will not be separately
      transferable until the 90th
      day
      after the Registration Statement is declared effective by the Staff of the
      SEC
      unless the Representative informs the Company of its determination (based on
      its
      assessment of the relative strengths of the securities markets and small
      capitalization companies in general and the trading pattern of and demand for
      the Company’s securities in particular) that an earlier separate trading date is
      acceptable. In no event will the Representative allow separate trading of the
      securities comprising the Units until the Company files a Current Report on
      Form
      8-K, that 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 Underwriters’ Over-Allotment
      Option, if the Over-Allotment Option is exercised prior to the filing of the
      Form 8-K. For purposes of this Warrant Agreement, the term “Over Allotment
      Option” shall mean the option granted by the Company to the Underwriters, and
      exercisable until ________, 2008, to purchase from the Company at a price of
      $8.00 per Unit less underwriting discounts, up to an aggregate of 675,000 Units
      for the sole purpose of covering over-allotments, if any, in connection with
      the
      Public Offering.

    
      
        
        

      

      
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    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 Ordinary Shares 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 at
      which each Ordinary Share may be purchased at the time a Warrant is exercised.
      The Company in its sole discretion may lower the Warrant Price at any time
      prior
      to the Expiration Date (as hereinafter defined).

     

    3.2 Duration
      of Warrants.
      Subject
      to compliance with the terms set forth in Section 3.3 hereof, a Warrant may
      be
      exercised only during the period (“Exercise Period”) commencing six months after
      the date of consummation by the Company of a stock exchange, asset acquisition
      or other similar business combination with, or controlling, through contractual
      arrangements of, one or more Target Businesses (as hereinafter defined) having
      a
      fair market value of at least 80% of the Company’s net assets at the time of
      such acquisition (a “Business Combination”) and terminating at 5:00 p.m., New
      York City time on the earlier to occur of (x) _____________, 2013 (the
“Expiration Date”) or (y) the Redemption Date (as hereinafter defined). Except
      with respect to the right, if applicable, to receive the Redemption Price (as
      hereinafter defined), in the case of Warrants called for redemption in
      accordance with Section 6 hereof each Warrant not exercised on or before the
      earlier of the Redemption Date or 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 earlier of the Redemption Date or the
      Expiration Date. The Company in its sole discretion may extend the duration
      of
      the Warrants by delaying the Expiration Date. Notwithstanding the foregoing,
      a
      Warrant may expire unexercised regardless of whether a registration statement
      covering the sale of the Ordinary Shares underlying the Warrants is effective.
      For purposes of this Warrant Agreement, the term “Target Business” shall mean an
      operating business with its principal operations in Greater China (as described
      in the Registration Statement).

     

    3.3 Exercise
      of Warrants.

     

    3.3.1 Payment.
      Subject
      to the provisions of the Warrants 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, if
      applicable, 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 Warrants, duly executed, and by paying in full, the Warrant Price for
      each full Ordinary Share 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 Ordinary Shares, and the issuance of the Ordinary
      Share. Payment of the Warrant Price shall be made either (i) in cash or by
      certified or official bank check payable to the order of the Company, (ii)
      in
      the
      event of redemption pursuant to Section 6 hereof in which the Company’s
      management has elected to force all holders of Warrants to exercise such
      Warrants on a “cashless basis,” by surrendering the Warrants for that number of
      Ordinary Shares equal to the quotient obtained by dividing (x) the product
      of
      the number of Ordinary Shares underlying the Warrants, multiplied by the
      difference between the Warrant Price and the “Fair Market Value” (defined below)
      by (y) the Fair Market Value or
      (iii)
      in the case of the Placement Warrants, if the Company has previously called
      the
      Warrants for redemption pursuant to Article 6 and the applicable Placement
      Warrants are owned by one of the officers or directors of the Company and/or
      their respective affiliates, on a cashless basis by surrendering Warrants held
      by such holder to the Company. Upon the surrender of Warrants to the Company
      in
      payment of the Warrant Price pursuant to a cashless exercise, a holder shall
      be
      entitled to receive therefor that number of Ordinary Shares otherwise issuable
      upon exercise of such holder’s Warrants less that number of Ordinary Shares
      having a Fair Market Value (as hereinafter defined) equal to the aggregate
      Warrant Price that would otherwise have been paid by the holder of such
      Warrants. For purposes of this Section 3.3.1, the term “Fair Market Value” shall
      mean the average reported last sales price of the Ordinary Shares for the last
      10 trading days ending on the third business day prior to the date on which
      notice of redemption of the Warrants is given by the Company.

    
      
        
        

      

      
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    3.3.2 Issuance
      of Certificates.
      As soon
      as practicable after the exercise of any Warrant and, to the extent applicable,
      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 Ordinary Shares 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 (i) a registration
      statement under the Act with respect to the Ordinary Shares issuable upon the
      exercise of such Warrant is effective, or (ii) in the opinion of counsel to
      the
      Company, the exercise of such Warrant is exempt from the registration
      requirements of the Act and the Ordinary Shares issuable upon exercise of such
      Warrant are qualified for sale or exempt from qualification under applicable
      securities laws of the states or other jurisdictions in which the registered
      holder(s) thereof reside. Warrants may not be exercised by, or securities issued
      to, any registered holder in any state in which such exercise or issuance would
      be unlawful. In no event will the registered holder of the Warrant be entitled
      to receive a net-cash settlement, securities or other consideration in lieu
      of
      physical settlement in Ordinary Shares, regardless of whether the Ordinary
      Shares underlying the Warrants are registered pursuant to an effective
      registration statement.

     

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

    
      
        
        

      

      
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    3.3.4 Date
      of Issuance.
      Each
      person in whose name any such certificate for Ordinary Shares 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 Ordinary Shares is increased by a stock dividend payable
      in Ordinary Shares, or by a split up or reclassification of shares Ordinary
      Shares, or other similar event, then, on the effective date of such stock
      dividend, split up, reclassification or similar event, the number of Ordinary
      Shares issuable on exercise of each Warrant shall be increased in proportion
      to
      such increase in outstanding Ordinary Shares.

     

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

     

    4.3 Adjustments
      in Warrant Price.
      Whenever the number of Ordinary Shares 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 Ordinary Shares purchasable upon the exercise of the
      Warrants immediately prior to such adjustment, and (y) the denominator of which
      shall be the number Ordinary Shares so purchasable immediately
      thereafter.

     

    4.4 Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding Ordinary Shares
      (other than a change covered by Section 4.1 or 4.2 hereof or that solely affects
      the par value of such Ordinary Shares), or in the case of any merger or
      consolidation of the Company with or into another company (other than a
      consolidation or merger in which the Company survives and that does not result
      in any reclassification or reorganization of the outstanding Ordinary Shares),
      or in the case of any sale or conveyance to another company 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 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 Ordinary
      Shares 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
      Ordinary Shares 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.

    
      
        
        

      

      
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    4.5 Notices
      of Changes in Warrant.
      Upon
      every adjustment of the Warrant Price or the number of shares issuable on
      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 to the nearest whole number Ordinary Shares to be issued to the Warrant
      holder.

     

    4.7 Forms
      of Warrants.
      The
      forms of the Public Warrants, the Placement Warrants and the Representatives
      Warrants 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 any 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 instruction. 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.

    
      
        
        

      

      
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    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.

     

    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, with the prior consent of the
      Representative, at any time while they are 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 (the “Redemption Price”), provided
      that the last sales price of the Ordinary Shares has been equal to or greater
      than $11.50 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. Notwithstanding the foregoing, the
      registration statement with respect to the Ordinary Shares for which the
      Warrants are exercisable must be current and effective in order for the Company
      to exercise its redemption rights pursuant to this Section 6. The provisions
      of
      this Section 6.1 may not be modified, amended or deleted without the prior
      written consent of the Representative.

     

    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 and time for the redemption (the “Redemption Date”). Notice of
      redemption shall be mailed by first class mail, postage prepaid, by the Company
      not less than 30 days prior to the Redemption Date to the registered holders
      of
      the Warrants to be redeemed at their last addresses as they shall appear on
      the
      Warrant Register. 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 Warrant 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 Redemption Date. In
      the
      event the Company determines to require all holders of Warrants to exercise
      their Warrants on a “cashless basis” pursuant to Section 3, the notice of
      redemption will contain the information necessary to calculate the number of
      Ordinary Shares to be received upon exercise of the Warrants, including the
      “Fair Market Value” in such case. 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.

    
      
        
        

      

      
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    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
      are
      met, including the opportunity of the Warrant holder to exercise prior to
      redemption pursuant to Section 6.3. The provisions of this Section 6.4 may
      not
      be modified, amended or deleted without the prior written consent of the
      Representative.

     

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

     

    7.4 Registration
      of Ordinary Shares.
      The
      Company agrees that it shall use its best efforts to file with the SEC a
      post-effective amendment to the Registration Statement, or a new registration
      statement, for the registration, under the Act, of the Ordinary Shares issuable
      upon exercise of the Warrants, and it shall take such action as is necessary
      to
      qualify for sale, in those states in which the Warrants were initially offered
      by the Company, the Ordinary Shares issuable upon exercise of the Warrants.
      In
      either case, the Company will use its best efforts to cause the same to become
      effective on or prior to the commencement of the Exercise Period and to maintain
      the effectiveness of such registration statement until the earlier of the
      Redemption Date or the Expiration Date in accordance with the provisions of
      this
      Warrant Agreement. In addition, the Company agrees to use its commercially
      reasonable best efforts to register such securities under the blue sky laws
      of
      the states of residence of exercising warrant holders, if permitted by the
      blue
      sky laws of such jurisdictions, in the event that an exemption is not available.
      Notwithstanding the foregoing, a Warrant may expire worthless regardless of
      whether a registration statement is current under the Act with respect to the
      Ordinary Shares issuable upon exercise of the Warrants. In no event will the
      registered holder of a Warrant be entitled to receive a net-cash settlement,
      securities or other consideration in lieu of physical settlement in Ordinary
      Shares, regardless of whether the Company complies with this Section 7.4. The
      provisions of this Section 7.4 may not be modified, amended or deleted without
      the prior written consent of the Representative.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    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 Ordinary Shares 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 company 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 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
      Ordinary Shares not later than the effective date of any such
      appointment.

     

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

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    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 as set forth on Exhibit B
      hereto,
      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 Warrant
      Agreement.

     

    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, Chairman
      of
      the Board or Chief Financial Officer 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 Warrant
      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 Warrant 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
      Warrant 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 Warrant
      Agreement or in any Warrant; nor shall it be responsible to make any adjustments
      required under the provisions of Section 4 hereof or 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 Ordinary Shares to be issued pursuant to this Warrant
      Agreement or any Warrant or as to whether any Ordinary Shares 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 Warrant 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 the Company’s Ordinary
      Shares through the exercise of Warrants.

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    9. Miscellaneous
      Provisions.

     

    9.1 Successors.
      All the
      covenants and provisions of this Warrant 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 or other communication required or which may be given hereunder shall
      be
      in writing and either be delivered personally or by private national courier
      service, or be mailed, certified or registered mail, return receipt requested,
      postage prepaid, and shall be deemed given when so delivered personally or,
      if
      sent by private national courier service, on the next business day after
      delivery to the courier, or, if mailed, two business days after the date of
      mailing, as follows:

     

    Spring
      Creek Acquisition Corp.

    10F,
      Room#1005

    Fortune
      Int’l Building, No.17

    North
      DaLiuShu Road,

    Hai
      Dian
      District Beijing 100081

    People’s
      Republic of China 

    Attn: 

     

    Any
      notice, statement or demand authorized by this Warrant 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 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:

     

    American
      Stock Transfer & Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn: Compliance
      Department

     

    with
      a
      copy in each case to:

     

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn: Mitchell
      S. Nussbaum, Esq.

     

    and

     

    EarlyBird
      Capital, Inc.

    275
      Madison Avenue

    New
      York,
      New York 10016

    Attn:
      David M. Nussbuam, Chairman

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    and

     

    Graubard
      Miller

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn: David
      Alan Miller, Esq.

     

    9.3 Applicable
      law.
      The
      validity, interpretation, and performance of this Warrant 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 Warrant 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 inconvenient 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 Warrant Agreement.
      Nothing
      in this Warrant Agreement expressed and nothing that may be implied from any
      of
      the provisions hereof is intended, or shall be construed, to confer upon, or
      give to, any person or company other than the parties hereto and the registered
      holders of the Warrants and, for the purposes of Sections 6.1, 6.4, 7.4, 9.2
      and
      9.8 hereof, the Representative, any right, remedy, or claim under or by reason
      of this Warrant Agreement or of any covenant, condition, stipulation, promise,
      or agreement hereof. The Representative shall be deemed to be a third-party
      beneficiary of this Warrant Agreement with respect to Sections 6.1, 6.4, 7.4,
      9.2 and 9.8 hereof. All covenants, conditions, stipulations, promises, and
      agreements contained in this Warrant Agreement shall be for the sole and
      exclusive benefit of the parties hereto (and the Representative with respect
      to
      the Sections 6.1, 6.4, 7.4, 9.2 and 9.8 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 Warrant 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
      Warrant 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.

     

    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.

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    9.8 Amendments.
      This
      Warrant Agreement may be amended by the parties hereto without the consent
      of
      any registered holder for the purpose of curing any ambiguity, or of curing,
      correcting or supplementing any defective provision contained herein or adding
      or changing any other provisions with respect to matters or questions arising
      under this Warrant Agreement as the parties may deem necessary or desirable
      and
      that the parties deem shall not adversely affect the interest of the registered
      holders. All other modifications or amendments, including any amendment to
      increase the Warrant Price or shorten the Exercise Period, shall require the
      written consent of each of the Representative and the registered holders of
      a
      majority of the then outstanding Warrants. Notwithstanding the foregoing, the
      Company may lower the Warrant Price or extend the duration of the Exercise
      Period in accordance with Sections 3.1 and 3.2, respectively, without such
      consent.

     

    9.9 Severability.
      This
      Warrant Agreement shall be deemed severable, and the invalidity or
      unenforceability of any term or provision hereof shall not affect the validity
      or enforceability of this Warrant Agreement or of any other term or provision
      hereof. Furthermore, in lieu of any such invalid or unenforceable term or
      provision, the parties hereto intend that there shall be added as a part of
      this
      Warrant Agreement a provision as similar in terms to such invalid or
      unenforceable provision as may be possible and be valid and
      enforceable.

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

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

    

    
      	
              Attest:

            	
                SPRING
                CREEK ACQUISITION CORP.

            
	 	 	 
	 	
                By:

            	
               

            
	 	 	
              Name:
                

            
	
                

            	 	
              Title:

            

    

     

    
      	
              Attest:

            	
                AMERICAN
                STOCK TRANSFER & TRUST COMPANY

            
	 	 	 
	 	
                By:

            	
               

            
	 	 	
              Name:
                

            
	
                

            	 	
              Title:

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-1

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    PUBLIC
      WARRANT

    

    
      	
              NUMBER

              __________-

            	
              WARRANTS

            

    

     

    (SEE
      REVERSE SIDE FOR LEGEND)

    THIS
      WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

    NEW
      YORK
      CITY TIME, __________, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring _________, 2013 (the
“Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ______________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”). The Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      _____________, 2009, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date, 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, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made at the option of
      the holder of the Warrant in cash or by certified or official bank check payable
      to the order of the Company. 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. Capitalized terms used in this Warrant
      Certificate without definition shall have the respective meanings ascribed
      to
      such terms in the Warrant Agreement.

     

    No
      fraction of a Share will be issued upon any exercise of a Warrant. If, upon
      exercise of a Warrant, a holder would be entitled to receive a fractional
      interest in a Share, the Company will, upon exercise, round up to the nearest
      whole number the number of ordinary shares to be issued to the warrant
      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 his
      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.

    
      
        
        

      

      
        A-1-1

        
          

        

      

      
        
        

      

    

     

    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 redeem all of the outstanding Warrants, with
      the
      prior consent of EarlyBirdCapital, Inc., at any time while they are exercisable
      and prior to the Expiration Date upon a notice of redemption in writing to
      the
      holders of record of the Warrants, giving no less than 30 days’ notice of such
      redemption if the last sale price of the Shares has been equal to or greater
      than $11.50 per Share on each of 20 trading days within a 30 trading day period
      ending on the third business day prior to the date on which notice of such
      redemption is given. The redemption price of the Warrants is to be $.01 per
      Warrant. Any Warrant either not exercised or tendered back to the Company by
      the
      Redemption Date shall be canceled on the books of the Company and have no
      further value except for the $.01 redemption price. 

    
      
        
        

      

      
        A-1-2

        
          

        

      

      
        
        

      

    

     

    This
      Warrant Certificate shall not be valid or obligatory for any purpose until
      it
      shall have been countersigned by the Warrant Agent.

     

    
      	
              SPRING
                CREEK ACQUISITION CORP.

               

            
	
              By:

            	
               

            
	 	
              Title:

            

    

     

    [SEAL]

     

    
      	
              Attest:

            	
               

            
	 	
              Secretary

            

    

     

    DATED:

     

    Countersigned:

     

    
      	
              AMERICAN
                STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

               

            
	
              By:

            	
               

            
	 	
              Authorized
                Signatory

            

    

    
      
        
        

      

      
        A-1-3

        
          

        

      

      
        
        

      

    

     

    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 Ordinary
      Shares 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)

            

    

    
      
        
        

      

      
        A-1-4

        
          

        

      

      
        
        

      

    

     

    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 MUST CORRESPOND WITH THE NAME WRITTEN UPON THE FACE OF THE WITHIN
      WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT
      OR
      ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
      INSTITUTION PURSUANT TO S.E.C. RULE 17Ad-15.

    
      
        
        

      

      
        A-1-5

        
          

        

      

      
        
        

      

    

    
       

      EXHIBIT
        A-2

    

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    PLACEMENT
      WARRANT

    

    
      	
              NUMBER

              _________-

            	
              WARRANTS

            

    

    

    (SEE
      REVERSE SIDE FOR LEGENDS)

    THIS
      WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

    NEW
      YORK
      CITY TIME, April 25, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring ____________, 2013 (the
      “Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ______________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”), the Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      _____________, 2009, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date, 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, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made, at the option of
      the holder of the Warrant either in cash or by certified or official bank check
      payable to the order of the Company or if the Warrants have been called for
      redemption by the Company and such warrant is held by an officer or director
      of
      the Company or any of their respective affiliates, on a cashless basis by
      surrendering Warrants held by the holder to the Company. 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. Capitalized terms used in this
      Warrant Certificate without definition shall have the respective meanings
      ascribed to such terms in the Warrant Agreement.

     

    No
      fraction of a Share will be issued upon any exercise of a Warrant. If, upon
      exercise of a Warrant, a holder would be entitled to receive a fractional
      interest in a Share, the Company will, upon exercise, round up to the nearest
      whole number the number of ordinary shares to be issued to the warrant
      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 his
      assignee a new Warrant Certificate covering the number of Shares for which
      the
      Warrant has not been exercised.

    
      
        
        

      

      
        A-2-1

        
          

        

      

      
        
        

      

    

     

    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 redeem all of the outstanding Warrants, with
      the
      prior consent of EarlyBirdCapital, Inc., at any time while they are exercisable
      and prior to the Expiration Date upon a notice of redemption in writing to
      the
      holders of record of the Warrants, giving no less than 30 days’ notice of such
      redemption if the last sale price of the Shares has been equal to or greater
      than $11.50 per Share on each of 20 trading days within a 30 trading day period
      ending on the third business day prior to the date on which notice of such
      redemption is given. The redemption price of the Warrants is to be $.01 per
      Warrant. Any Warrant either not exercised or tendered back to the Company by
      the
      Redemption Date shall be canceled on the books of the Company and have no
      further value except for the $.01 redemption price. Following the date on which
      notice of a redemption of the Warrants has been given, payment of the Warrant
      Price may, at the option of the holder thereof, also be made on a cashless
      basis
      by surrendering Warrants held by such holder to the Company. Upon such surrender
      of Warrants to the Company in payment of the Warrant Price, a holder shall
      be
      entitled to receive therefor that number of Shares otherwise issuable upon
      exercise of such holder’s Warrants less the number of Shares having a Fair
      Market Value equal to the aggregate Warrant Price that would otherwise have
      been
      paid by the holder of such Warrants.

    
      
        
        

      

      
        A-2-2

        
          

        

      

      
        
        

      

    

     

    This
      Warrant Certificate shall not be valid or obligatory for any purpose until
      it
      shall have been countersigned by the Warrant Agent.

    
       

      
        	
                SPRING
                  CREEK ACQUISITION CORP.

                 

              
	
                By:

              	
                 

              
	 	
                Title:

              

      

       

      [SEAL]

       

      
        	
                Attest:

              	
                 

              
	 	
                Secretary

              

      

       

      DATED:

       

      Countersigned:

       

      
        	
                AMERICAN
                  STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

                 

              
	
                By:

              	
                 

              
	 	
                Authorized
                  Signatory

              

      

       

    

    
      
        
        

      

      
        A-2-3

        
          

        

      

      
        
        

      

    

     

    [FORM
      OF
      REVERSE OF WARRANT CERTIFICATE FOR PLACEMENT WARRANT]

     

    THE
      WARRANTS REPRESENTED BY THIS CERTIFICATE WERE INITIALLY ISSUED AS PART OF AN
      ISSUANCE OF UNITS, EACH OF WHICH CONSISTS OF ONE ORDINARY SHARE, PAR VALUE
      $.001
      (“ORDINARY SHARE”) OF SPRING CREEK ACQUISITION CORP. (THE “COMPANY”) AND ONE
      WARRANT. THE WARRANTS REPRESENTED BY THIS CERTIFICATE WILL NOT BE SEPARATELY
      TRANSFERABLE UNTIL THE 90TH
      DAY
      AFTER THE REGISTRATION STATEMENT IS DECLARED EFFECTIVE BY THE STAFF OF THE
      SECURITIES AND EXCHANGE COMMISSION (“SEC”) UNLESS EARLYBIRD CAPITAL, INC.
      INFORMS THE COMPANY OF ITS DETERMINATION THAT AN EARLIER SEPARATE TRADING DATE
      IS ACCEPTABLE AND THE COMPANY HAS MADE CERTAIN PUBLIC FILINGS WITH THE SEC
      ON OR
      PRIOR TO SUCH EARLIER SEPARATE TRADING DATE.

     

    THE
      ORDINARY SHARES OF THE COMPANY FOR WHICH THIS WARRANT IS EXERCISABLE MAY NOT
      BE
      OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES
      ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ANY APPLICABLE STATE
      SECURITIES LAWS OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS.
      ACCORDINGLY, NO HOLDER SHALL BE ENTITLED TO EXERCISE SUCH HOLDER’S WARRANTS AT
      ANY TIME UNLESS, AT THE TIME OF EXERCISE (i)  A REGISTRATION STATEMENT
      UNDER THE SECURITIES ACT RELATING TO THE ORDINARY SHARES ISSUABLE UPON THE
      EXERCISE OF THIS WARRANT HAS BEEN FILED WITH, AND DECLARED EFFECTIVE BY, THE
      SEC, AND NO STOP ORDER SUSPENDING THE EFFECTIVENESS OF SUCH REGISTRATION
      STATEMENT HAS BEEN ISSUED BY THE SEC, OR (ii) THE ISSUANCE OF SUCH SHARES
      IS PERMITTED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
      THE
      SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

     

    THESE
      SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY STATE
      SECURITIES LAWS. NEITHER THESE SECURITIES NOR ANY INTEREST OR PARTICIPATION
      HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
      OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
      TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
      OF
      THE SECURITIES ACT.

     

    THE
      HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR
      OTHERWISE TRANSFER THIS SECURITY ONLY (A) TO THE COMPANY, (B) PURSUANT
      TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE
      SECURITIES ACT OR (C) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE WARRANT
      AGENT’S RIGHT PRIOR TO ANY OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE
      (C) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND OTHER
      INFORMATION
      SATISFACTORY TO EACH OF THEM THAT THE TRANSFER COMPLIES WITH THE FOREGOING
      RESTRICTIONS AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE A
      CERTIFICATE OF ASSIGNMENT IN THE FORM APPEARING ON THE OTHER SIDE OF THESE
      SECURITIES IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE WARRANT
      AGENT.

    
      
        
        

      

      
        A-2-4

        
          

        

      

      
        
        

      

    

     

    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 Ordinary
      Shares 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)

            

    

    
      
        
        

      

      
        A-2-5

        
          

        

      

      
        
        

      

    

     

    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 MUST CORRESPOND WITH THE NAME WRITTEN UPON THE FACE OF THE WITHIN
      WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT
      OR
      ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
      INSTITUTION PURSUANT TO S.E.C. RULE 17Ad-15.

    
      
        
        

      

      
        A-2-6

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-3

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    REPRESENTATIVE
      WARRANT

    

    
      	
              NUMBER
                

              __________-

            	
              WARRANTS

            

    

     

    (SEE
      REVERSE SIDE FOR LEGEND)

    THIS
      WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

    NEW
      YORK
      CITY TIME, __________, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring _____________, 2013 (the
      “Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ____________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”), the Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      ____________, 2008, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date 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, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made, at the option of
      the holder of the Warrant, in cash or by certified or official bank check
      payable to the order of the Company. 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. Capitalized terms used in this Warrant
      Certificate without definition shall have the respective meanings ascribed
      to
      such terms in the Warrant Agreement.

     

    No
      fraction of a Share will be issued upon any exercise of a Warrant. If, upon
      exercise of a Warrant, a holder would be entitled to receive a fractional
      interest in a Share, the Company will, upon exercise, round up to the nearest
      whole number the number of ordinary shares to be issued to the warrant
      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 his
      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.

    
      
        
        

      

      
        A-3-1

        
          

        

      

      
        
        

      

    

     

    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 redeem all of the outstanding Warrants, with
      the
      prior consent of EarlyBirdCapital, Inc., at any time while they are exercisable
      and prior to the Expiration Date upon a notice of redemption in writing to
      the
      holders of record of the Warrants, giving no less than 30 days’ notice of such
      redemption if the last sale price of the Shares has been equal to or greater
      than $11.50 per Share on each of 20 trading days within a 30 trading day period
      ending on the third business day prior to the date on which notice of such
      redemption is given. The redemption price of the Warrants is to be $.01 per
      Warrant. Any Warrant either not exercised or tendered back to the Company by
      the
      Redemption Date shall be canceled on the books of the Company and have no
      further value except for the $.01 redemption price. 

    
      
        
        

      

      
        A-3-2

        
          

        

      

      
        
        

      

    

     

    This
      Warrant Certificate shall not be valid or obligatory for any purpose until
      it
      shall have been countersigned by the Warrant Agent. 

     

    
      	
              SPRING
                CREEK ACQUISITION CORP.

               

            
	
              By:

            	
               

            
	 	
              Title:

            

    

     

    [SEAL]

     

    
      	
              Attest:

            	
               

            
	 	
              Secretary

            

    

     

    DATED:

     

    Countersigned:

     

    
      	
              AMERICAN
                STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

               

            
	
              By:

            	
               

            
	 	
              Authorized
                Signatory

            

      
        
          
          

        

        
          A-3-3

          
            

          

        

        
          
          

        

      

    

     

    [FORM
      OF
      REVERSE OF WARRANT CERTIFICATE FOR REPRESENTATIVE WARRANT]

     

    THE
      WARRANTS REPRESENTED BY THIS CERTIFICATE WERE INITIALLY ISSUED AS PART OF AN
      ISSUANCE OF UNITS, EACH OF WHICH CONSISTS OF ONE ORDINARY SHARE, PAR VALUE
      $.001
      (“ORDINARY SHARE”) OF SPRING CREEK ACQUISITION CORP. (THE “COMPANY”) AND ONE
      WARRANT. THE WARRANTS REPRESENTED BY THIS CERTIFICATE WILL NOT BE SEPARATELY
      TRANSFERABLE UNTIL THE 90TH
      DAY
      AFTER THE REGISTRATION STATEMENT IS DECLARED EFFECTIVE BY THE STAFF OF THE
      SECURITIES AND EXCHANGE COMMISSION (“SEC”) UNLESS EARLYBIRD CAPITAL, INC.
      INFORMS THE COMPANY OF ITS DETERMINATION THAT AN EARLIER SEPARATE TRADING DATE
      IS ACCEPTABLE AND THE COMPANY HAS MADE CERTAIN PUBLIC FILINGS WITH THE SEC
      ON OR
      PRIOR TO SUCH EARLIER SEPARATE TRADING DATE.

     

    THE
      ORDINARY SHARES OF THE COMPANY FOR WHICH THIS WARRANT IS EXERCISABLE MAY NOT
      BE
      OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES
      ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ANY APPLICABLE STATE
      SECURITIES LAWS OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS.
      ACCORDINGLY, NO HOLDER SHALL BE ENTITLED TO EXERCISE SUCH HOLDER’S WARRANTS AT
      ANY TIME UNLESS, AT THE TIME OF EXERCISE (i)  A REGISTRATION STATEMENT
      UNDER THE SECURITIES ACT RELATING TO THE ORDINARY SHARES ISSUABLE UPON THE
      EXERCISE OF THIS WARRANT HAS BEEN FILED WITH, AND DECLARED EFFECTIVE BY, THE
      SEC, AND NO STOP ORDER SUSPENDING THE EFFECTIVENESS OF SUCH REGISTRATION
      STATEMENT HAS BEEN ISSUED BY THE SEC, OR (ii) THE ISSUANCE OF SUCH SHARES
      IS PERMITTED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
      THE
      SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

     

    THE
      HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR
      OTHERWISE TRANSFER THIS SECURITY ONLY (A) TO THE COMPANY, (B) PURSUANT
      TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE
      SECURITIES ACT OR (C) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE WARRANT
      AGENT’S RIGHT PRIOR TO ANY OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE
      (C) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND OTHER
      INFORMATION SATISFACTORY TO EACH OF THEM THAT THE TRANSFER COMPLIES WITH THE
      FOREGOING RESTRICTIONS AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE
      A CERTIFICATE OF ASSIGNMENT IN THE FORM APPEARING ON THE OTHER SIDE OF THESE
      SECURITIES IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE WARRANT
      AGENT.

    
      
        
        

      

      
        A-3-4

        
          

        

      

      
        
        

      

    

     

    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 Ordinary
      Shares 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)

            

    

    
      
        
        

      

      
        A-3-5

        
          

        

      

      
        
        

      

    

     

    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 MUST CORRESPOND WITH THE NAME WRITTEN UPON THE FACE OF THE WITHIN
      WARRANT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT
      OR
      ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
      INSTITUTION PURSUANT TO S.E.C. RULE 17Ad-15.

    
      
        
        

      

      
        A-3-6Unassociated Document

     

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      Agreement is made as of __________, 2008 by and between Spring Creek Acquisition
      Corp. (the “Company”) and American Stock Transfer & Trust Company, as
      trustee (the “Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form S-1, No. 333-147284 (as amended
      from time to time) (“Registration Statement”), for its initial public offering
      of securities (“IPO”) has been declared effective as of the date hereof by the
      Securities and Exchange Commission (“Effective Date”); and 

     

    WHEREAS,
      EarlyBirdCapital, Inc. is acting as the representative (the “Representative”) of
      the underwriters in the IPO; and

     

    WHEREAS,
      the Company has issued securities in a private placement that will occur
      immediately prior to the IPO (the “Placement”); and 

     

    WHEREAS,
      as described in the Company’s Registration Statement, and in accordance with the
      Company’s Amended and Restated Certificate of Incorporation, $32,870,000 of the
      proceeds of the IPO, net of all discounts and commissions including the Deferred
      Compensation (as defined below) ($37,942,000 if the underwriters’ over-allotment
      option is exercised in full) will be delivered to the Trustee to be deposited
      and held in a trust account (the “Trust Account”) for the
      benefit
      of the Company and the holder’s of the Company’s Ordinary Shares, par value
      $.0001 per share, issued in the IPO (the “IPO Shares”) as hereinafter provided,
      and in the event the units issued in the IPO are registered in Colorado,
      pursuant to Section 11-51-302(6) of the Colorado revised statutes (the “CRS”). A
      copy of Section 11-51-302(6) of the CRS is attached hereto and made a part
      hereof; and

     

    WHEREAS,
      pursuant to the Placement Warrant Purchase Agreement, dated as of
      _______________, 2007, among the Company and certain purchasers, the entire
      proceeds of the private placement of the warrants with the Company’s purchasers,
      equal to $1,430,000, will be delivered to the Trustee to be deposited in the
      Trust Account; and

     

    WHEREAS,
      pursuant to the Underwriting Agreement, an additional $1,260,000 (or $1,449,000
      if the underwriters’ over-allotment option is exercised in full), (or the amount
      specified in the notice delivered pursuant to Section 2(d) hereof), representing
      a portion of the underwriters’ discount (the “Deferred Compensation”) which the
      Representative, on behalf of the underwriters, has agreed to deposit into the
      Trust Account; and 

     

    WHEREAS,
      the amount to be delivered to the Trustee, including the proceeds of the IPO
      and
      the private placement and the Deferred Compensation, will be referred to herein
      as the “Property,” the shareholders for whose benefit the Trustee shall hold the
      Property will be referred to as the “Public Shareholders;” and the Public
      Shareholders, the Representative and the Company will be referred to together
      as
      the “Beneficiaries;” and the Company and the Trustee desire to enter into this
      Agreement to set forth the terms and conditions pursuant to which the Trustee
      shall hold the Property; and

     

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property;

     

    IT
      IS
      AGREED:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1. Agreements
      and Covenants of Trustee.
      The
      Trustee hereby agrees and covenants to:

     

    (a) Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement, including without limitation, the terms of Section 11-51-302(6)
      of
      the CRS, in a segregated trust account established by the Trustee at a branch
      of
      Credit Suisse Bank; 

     

    (b) Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

     

    (c) In
      a
      timely manner, upon the instruction of the Company, to invest and reinvest
      the
      Property in any “Government Security.” As used herein, Government Security means
      any Treasury Bill issued by the United States, having a maturity of 180 days
      or
      less or any open ended investment company registered under the Investment
      Company Act of 1940 that holds itself out as a money market fund meeting the
      conditions of paragraphs (c)(2), (c)(3) and (c)(4) under Rule 2a-7 promulgated
      under the Investment Company Act of 1940;

     

    (d) Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

     

    (e) Notify
      the Company and the Representative of all communications received by it with
      respect to any Property requiring action by the Company;

     

    (f) Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Trust
      Account;

     

    (g) Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company and/or
      the
      Representative to do so;

     

    (h) Render
      to
      the Company and to the Representative, and to such other person as the Company
      may instruct, monthly written statements of the activities of and amounts in
      the
      Trust Account reflecting all receipts and disbursements of the Trust Account;
      and

     

    (i) If
      there
      is any income tax obligation relating to the income of the Property in the
      Trust
      Account, then, only at the written instruction of the Company, in a form
      substantially similar to that attached hereto as either Exhibit
      A,
      to make
      available in cash or by check from the Property in the Trust Account an amount
      specified by the Company as owing to the applicable taxing authority, which
      amount shall be paid directly to the taxing authority (though a check made
      out
      to the applicable taxing authority may be provided to the Company for inclusion
      with its tax returns) by electronic funds transfer, account debit or other
      method of payment; provided,
      however,
      (i)
      such distributions may only be made if and to the extent that interest has
      been
      earned on the amount initially deposited in the Trust Account sufficient to
      pay
      for such tax obligation and (ii) that if a taxing authority will not accept
      payment in such manner, then any payment which would have been made directly
      to
      the taxing authority may be made to the Company, and the Company shall forward
      such payment to the taxing authority; and 

     

    (j) Commence
      liquidation of the Trust Account only after receipt of and only in accordance
      with the terms of a letter (“Termination
      Letter”),
      in a
      form substantially similar to that attached hereto as either Exhibit
      B
      or
Exhibit
      C,
      signed
      on behalf of the Company by its (i) Chief Executive Officer and (ii) Chief
      Financial Officer, and complete the liquidation of the Trust Account and
      disburse the Property in the Trust Account (which disbursement shall include,
      in
      the event of a Business Combination (as hereafter defined), payment of the
      Deferred Compensation to the Representative) only as directed in the Termination
      Letter and the other documents referred to therein. The Trustee understands
      and
      agrees that, except as provided in this paragraph and paragraphs 1(i), 1(k)
      and
      6(a) hereof, disbursements from the Trust Account shall be made only pursuant
      to
      a duly executed Termination Letter, together with the other documents referenced
      herein. For purposes of this Agreement, (i) a “Business Combination” shall mean
      an acquisition by a stock exchange, asset acquisition or other similar business
      combination, or controlling, through contractual arrangements, of one or more
      Target Businesses (as hereinafter defined) having a fair market value of at
      least 80% of the Company’s net assets at the time of such acquisition. For
      purposes of this Agreement, the term “Target Business” shall mean an operating
      business that has its principal operations in the Greater China region (as
      described in the Registration Statement); and

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (k) Upon
      one
      or more written requests from the Company, which may be given not more than
      once
      in any calendar month period, the Trustee shall distribute to the Company
      interest earned on the Trust Account, as specified by the Company in its written
      request to the Trustee, net of taxes payable, up to a maximum of $1,050,000.
      The
      distributions requested by the Company may be for any amount, provided that
      (i)
      in the aggregate, all distributions under this Section 1(k) may not exceed
      $1,050,000 and (ii) that such distributions may only be made if and to the
      extent that interest has been earned on the amount initially deposited into
      the
      Trust Account in the amount requested by the Company; and

     

    (l) Permit
      or
      effect no distribution from the Trust Account except in accordance with Sections
      1(i), 1(j), 1(k) and 6(a).

     

    2. Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants to:

     

    (a) Provide
      all instructions to the Trustee hereunder in writing, signed by the Company’s
      Chief Executive Officer or Chief Financial Officer. In addition, except with
      respect to its duties under Section 1(i) above, the Trustee shall be entitled
      to
      rely on, and shall be protected in relying on, any verbal or telephonic advice
      or instruction which it in good faith believes to be given by the Chief
      Executive Officer of the Chief Financial Officer;

     

    (b) Hold
      the
      Trustee harmless and indemnify the Trustee from and against any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross negligence or willful misconduct. Promptly after the receipt by the
      Trustee of notice of demand or claim or the commencement of any action, suit
      or
      proceeding, pursuant to which the Trustee intends to seek indemnification under
      this paragraph, it shall notify the Company in writing of such claim
      (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the
      right to conduct and manage the defense against such Indemnified Claim,
      provided, that the Trustee shall obtain the consent of the Company with respect
      to the selection of counsel, which consent shall not be unreasonably withheld.
      The Trustee may not agree to settle any Indemnified Claim without the prior
      written consent of the Company. The Company may participate in such action
      with
      its own counsel; 

     

    (c) Pay
      the
      Trustee an initial acceptance fee of $_______ and an annual fee of $________
      (it
      being expressly understood that the Property shall not be used to pay such
      fee).
      The Company shall pay the Trustee the initial acceptance fee and first year’s
      fee at the consummation of the IPO and shall thereafter pay the annual fee
      on
      the anniversary of the Effective Date. The Trustee shall refund to the Company
      the fee (on a pro rata basis) with respect to any period after the liquidation
      of the Trust Fund. The Company shall not be responsible for any other fees
      or
      charges of the Trustee except as may be provided in Section 2(b) hereof (it
      being expressly understood that the Property shall not be used to make any
      payments to the Trustee under such Section);

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (d) Within
      five business days after the Representative’s over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, provide the
      Trustee notice in writing (with a copy to the Representative) of the total
      amount of the Deferred Compensation, which shall in no event be less than
      $1,260,000;

     

    (e) Provide
      to the Trustee any letter of intent, agreement in principle or definitive
      agreement that is executed in connection with a Business Combination, together
      with a certified copy of a unanimous resolution of the Board of Directors of
      the
      Company affirming that such letter of intent, agreement in principle or
      definitive agreement is in effect; and 

     

    (f) In
      connection with any vote of the Company’s shareholders regarding a Business
      Combination, provide to the Trustee an affidavit or certificate of a firm
      regularly engaged in the business of soliciting proxies and tabulating
      shareholder votes verifying the vote of the Company’s shareholders and the
      Company’s Public Shareholders regarding such Business Combination.

     

    3. Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a) Take
      any
      action with respect to the Property, other than as directed in Section 1 hereof
      and the Trustee shall have no liability to any party except for liability
      arising out of its own gross negligence or willful misconduct;

     

    (b) Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property unless and until it shall have received written instructions
      from the Company given as provided herein to do so and the Company shall have
      advanced or guaranteed to it funds sufficient to pay any expenses incident
      thereto;

     

    (c) Change
      the investment of any Property, other than in compliance with Section
      1(c);

     

    (d) Refund
      any depreciation in principal of any Property;

     

    (e) Assume
      that the authority of any person designated by the Company or the Representative
      to give instructions hereunder shall not be continuing unless provided otherwise
      in such designation, or unless the Company or the Representative shall have
      delivered a written revocation of such authority to the Trustee;

     

    (f) The
      other
      parties hereto or to anyone else for any action taken or omitted by it, or
      any
      action suffered by it to be taken or omitted, in good faith and in the exercise
      of its own best judgment, except for its gross negligence or willful misconduct.
      The Trustee may rely conclusively and shall be protected in acting upon any
      order, notice, demand, certificate, opinion or advice of counsel (including
      counsel chosen by the Trustee), statement, instrument, report or other paper
      or
      document (not only as to its due execution and the validity and effectiveness
      of
      its provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Trustee, in good faith, to be
      genuine and to be signed or presented by the proper person or persons. The
      Trustee shall not be bound by any notice or demand, or any waiver, modification,
      termination or rescission of this Agreement or any of the terms hereof, unless
      evidenced by a written instrument delivered to the Trustee signed by the proper
      party or parties and, if the duties or rights of the Trustee are affected,
      unless it shall give its prior written consent thereto;

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (g) Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement, unless an officer
      of the Trustee has actual knowledge thereof, or written notice of such event
      is
      sent to the Trustee or as otherwise required under Section 1(j) hereof;
      and

     

    (h) Pay
      any
      taxes on behalf of the Trust Account (it being expressly understood that, as
      set
      forth in Section 1(i), if there is any income tax obligation relating to the
      income of the Property in the Trust Account, then, at the written instruction
      of
      the Company, the Trustee shall make available by check or in cash for transfer
      by account debit or wire transfer directly to the taxing authorities designated
      by the Company, the amount indicated by the Company as owing to each such taxing
      authority).

     

    4. Certain
      Rights Of
      Trustee.
      

     

    (a) Before
      the Trustee acts or refrains from acting, it may require an Officer’s
      Certificate or opinion of counsel or both. The Trustee shall not be liable
      for
      any action it takes or omits to take in good faith in reliance on such Officer’s
      Certificate or opinion of counsel. The Trustee may consult with counsel and
      the
      advice of such counsel or any opinion of counsel shall be full and complete
      authorization and protection from liability in respect of any action taken,
      suffered or omitted by it hereunder in good faith and in reliance thereon.
      

     

    (b) The
      Trustee may act through its attorneys and agents and shall not be responsible
      for the misconduct or negligence of any agent appointed with due care.

     

    (c) The
      Trustee shall not be liable for any action it takes or omits to take in good
      faith that it believes to be authorized or within the rights or powers conferred
      upon it by this Agreement. 

     

    (d) The
      Trustee shall not be responsible for and makes no representation as to the
      validity or adequacy of this Agreement; it shall not be accountable for the
      Company’s use of the proceeds from the Trust Account. Notwithstanding the
      effective date of this Agreement or anything to the contrary contained in this
      Agreement, the Trustee shall have no liability or responsibility for any act
      or
      event relating to this Agreement or the transactions related thereto which
      occur
      prior to the date of this Agreement, and shall have no contractual obligations
      to the Beneficiaries until the date of this Agreement.

     

    5. No
      Right of Set-Off.
      The
      Trustee waives any right of set-off or any right, title, interest or claim
      of
      any kind that the Trustee may have against the Property held in the Trust
      Account. In the event that the Trustee has a claim against the Company under
      this Agreement, including, without limitation, under Section 2(b), the Trustee
      will pursue such claim solely against the Company and not against the Property
      held in the Trust Account.

     

    6. Termination.
      This
      Agreement shall terminate as follows:

     

    (a) If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee. At such time that the Company notifies the Trustee that a successor
      trustee has been appointed by the Company and has agreed to become subject
      to
      the terms of this Agreement, the Trustee shall transfer the management of the
      Trust Account to the successor trustee, including but not limited to the
      transfer of copies of the reports and statements relating to the Trust Account,
      whereupon this Agreement shall terminate; provided,
      however,
      that,
      in the event that the Company does not locate a successor trustee within ninety
      days of receipt of the resignation notice from the Trustee, the Trustee may
      submit an application to have the Property deposited with the United States
      District Court for the Southern District of New York and upon such deposit,
      the
      Trustee shall be immune from any liability whatsoever that arises due to any
      actions or omissions to act by any party after such deposit; or

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (b) At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Section 1(j) hereof, and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate except with respect to Section 2(b).

     

    7. Miscellaneous.

     

    (a) The
      Company and the Trustee each acknowledge that the Trustee will follow the
      security procedures set forth below with respect to funds transferred from
      the
      Trust Account. Upon receipt of written instructions, the Trustee will confirm
      such instructions with an Authorized Individual at an Authorized Telephone
      Number listed on the attached Exhibit
      D
      or such
      other individuals and telephone numbers as are authorized from time to time
      pursuant to the notice provisions of this Agreement. The Company and the Trustee
      will each restrict access to confidential information relating to such security
      procedures to authorized persons. Each party must notify the other party
      immediately if it has reason to believe unauthorized persons may have obtained
      access to such information, or of any change in its authorized personnel. In
      executing funds transfers, the Trustee will rely upon account numbers or other
      identifying numbers of a Beneficiary, Beneficiary’s bank or intermediary bank,
      rather than names. The Trustee shall not be liable for any loss, liability
      or
      expense resulting from any error in an account number or other identifying
      number, provided it has accurately transmitted the numbers
      provided.

     

    (b) This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to conflicts of law
      principles that would result in the application of the substantive laws of
      another jurisdiction. It may be executed in several counterparts, each one
      of
      which shall constitute an original, and together shall constitute but one
      instrument.

     

    (c) This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. This Agreement or any provision
      hereof may only be changed, amended or modified by a writing signed by each
      of
      the parties hereto; provided,
      however,
      that no
      such change, amendment or modification (other than to correct a typographical
      or
      similar technical error) may be made to Sections 1(i), 1(j), 1(k) and 1(l)
      hereof without the consent of the holders of 90% of the IPO Shares, it being
      the
      specific intention of the parties hereto that each Public Shareholder is and
      shall be a third-party beneficiary of this Section 7(c) with the same right
      and
      power to enforce this Section 7(c) as either of the parties hereto. For purposes
      of this Section 7(c), the “consent of the holders of 90% of the IPO Shares”
shall mean receipt by the Trustee of a certificate from an entity certifying
      that (i) such entity regularly engages in the business of serving as inspector
      of elections for companies whose securities are publicly traded, and (ii) either
      (a) the holders of record of 90% of the IPO Shares of record as of a record
      date
      established in accordance with the applicable provisions of the Companies Law
      (2004 Revision) of the Cayman Islands (the “Companies Law”), have voted in favor
      of such amendment or modification or (b) the holders of record of 90% of the
      IPO
      Shares of record as of a record date established in accordance with the
      applicable provisions of the Companies Law have delivered to such entity a
      signed writing approving such amendment or modification. 

     

    (d) As
      to any
      claim, cross-claim or counterclaim in any way relating to this Agreement, each
      party waives the right to trial by jury.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (e) The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the City of New York, Borough of Manhattan, for purposes of
      resolving any disputes hereunder.

     

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

     

    if
      to the
      Trustee, to:

     

    American
      Stock Transfer & Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn: ________________

    Fax
      No.:
      (___) __________

     

    if
      to the
      Company, to:

     

    Spring
      Creek Acquisition Corp.

    10F,
      Room#1005, Fortune Int’l Building

    No.
      17,
      North DaLiuShu Road

    Hai
      Dian
      District, Beijing 100081

    People’s
      Republic of China

    Attn:
      James Cheng-Jee Sha, Chief Executive Officer (Principal Executive
      Officer)

    Fax
      No.:

     

    in
      either
      case with a copy to (which shall not constitute notice):

     

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue

    27th
      Floor

    New
      York,
      New York 10016

    Attn: ________________________

    Fax
      No.:
      ________________

     

    and

     

    Graubard
      Miller

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn: David
      Alan Miller, Esq.

    Fax
      No.:
      (212) 818-8881

     

    and

     

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn: Mitchell
      S. Nussbaum, Esq.

    Fax
      No.:
      (212) 407-4990

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (g) This
      Agreement may not be assigned by the Trustee without the prior written consent
      of the Company.

     

    (h) Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder. The Trustee acknowledges
      and agrees that it shall not make any claims or proceed against the Trust
      Account, including by way of set-off, and shall not be entitled to any funds
      in
      the Trust Account under any circumstance.

     

    [Signature
      page follows]

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have duly executed this Investment Management
      Trust
      Agreement as of the date first written above.

     

    
      	
              AMERICAN
                STOCK TRANSFER & TRUST COMPANY, as Trustee

            
	 
	
              By:
                

            	 

	 	
              Name:

            
	 	
              Title:

            
	 	 
	
              SPRING
                CREEK ACQUISITION CORP.

            
	 
	
              By:
                

            	  

	 	
              Name:
                James Cheng-Jee Sha

            
	 	
              Title:
                Chief Executive Officer

            

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

     [Letterhead
      of Company]

     

    [Insert
      date]

     

    American
      Stock Transfer 

    &
      Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn:
      

     

    Re: Trust
      Account No.
      [                 
]

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(i) of
      the
      Investment Management Trust Agreement between Spring Creek Acquisition Corp.
      (“Company”) and American Stock Transfer & Trust Company (“Trustee”), dated
      as of ____________, 2008 (“Trust Agreement”), the
      Company hereby requests that you deliver to the Company $_______ of the income
      earned on the Property as of the date hereof. The Company needs such funds
      to
      pay for the tax obligations as set forth on the attached tax return or tax
      statement. In accordance with the terms of the Trust Agreement, you are hereby
      directed and authorized to transfer (via wire transfer) such funds promptly
      upon
      your receipt of this letter to the Company’s operating account at:

     

    [WIRE
      INSTRUCTION INFORMATION]

     

    
      	
               Very
                truly yours,

            
	 
	
              SPRING
                CREEK ACQUISITION CORP.

            
	 
	
              By:
                

            	  

	 	
              Name:

            
	 	
              Title:

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    American
      Stock Transfer 

    &
      Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn:
      

     

    Re: Trust
      Account No.
      [                        
] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to Section 1(j) of the Investment Management Trust Agreement between Spring
      Creek Acquisition Corp. (“Company”) and American Stock Transfer & Trust
      Company (“Trustee”), dated as of ____________, 2008 (“Trust Agreement”), this is
      to advise you that the Company has entered into an agreement (“Business
      Agreement”) with __________________ (“Target Business”) to consummate a business
      combination with Target Business (“Business Combination”) on or about [insert
      date]. The Company shall notify you at least 48 hours in advance of the actual
      date of the consummation of the Business Combination (“Consummation Date”) and
      shall provide you with a certificate or affidavit in accordance with Section
      2(f) of the Trust Agreement. Capitalized terms used herein and not otherwise
      defined shall have the meanings ascribed to them in the Trust
      Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account to the effect that, on the
      Consummation Date, all of funds held in the Trust Account will be immediately
      available for transfer to the account or accounts that the Company shall direct
      on the Consummation Date.

     

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that (a) the Business Combination has been consummated and (b)
      the
      provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met,
      and
      (ii) the Company and EarlyBirdCapital, Inc., as representative of the
      underwriters of the Company’s IPO (the “Representative”) shall deliver to you
      joint written instructions with respect to the transfer of the funds held in
      the
      Trust Account, including the Deferred Compensation (“Instructions”). You are
      hereby directed and authorized to transfer the funds, including the Deferred
      Compensation, held in the Trust Account immediately upon your receipt of the
      counsel’s letter, the Officer’s Certificate and the Instructions, in accordance
      with the terms of the Instructions. Notwithstanding the foregoing, upon
      verification of receipt by you of the Instruction Letter, we hereby agree and
      acknowledge that the Property in the Trust Account shall be distributed as
      follows: (1) first, to the Representative by wire transfer (or as otherwise
      directed by the Representative) in immediately available funds, the aggregate
      amount of $__________ plus any interest accrued thereon; and (2) thereafter,
      to
      any other Beneficiary in accordance with the terms of the Instructions. In
      the
      event that certain deposits held in the Trust Account may not be liquidated
      by
      the Consummation Date without penalty, you will notify the Company of the same
      and the Company, if the amount set forth in clause (1) shall not have been
      paid
      in full, the Company and the Representative shall issue joint written
      instructions directing you as to whether such funds should remain in the Trust
      Account and be distributed after the Consummation Date to the Company. Upon
      the
      distribution of all funds in the Trust Account pursuant to the terms hereof,
      the
      Trust Agreement shall be terminated.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then the funds held
      in
      the Trust Account shall be reinvested as provided in the Trust Agreement on
      the
      business day immediately following the Consummation Date as set forth in the
      notice.

     

    
      	
              Very
                truly yours,

            
	 
	
              SPRING
                CREEK ACQUISITION CORP.

            
	 
	
              By:
                

            	  

	 	
              Name:

            
	 	
              Title: Chief
                Executive Officer

            
	 	 
	
              By:
                

            	  

	 	
              Name:

            
	 	
              Title:
                Chief Financial Officer

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

     

    [Letterhead
      of Company]

     

    [Insert
      date]

    American
      Stock Transfer & Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn:
      

     

    Re: Trust
      Account No.
      [               
] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to Section 1(j) of the Investment Management Trust Agreement between Spring
      Creek Acquisition Corp. (“Company”) and American Stock Transfer & Trust
      Company (“Trustee”), dated as of ____________, 2008 (“Trust Agreement”), this is
      to advise you that the Board of Directors of the Company has voted to dissolve
      the Company and liquidate the Trust Account (as defined in the Trust Agreement).
      Attached hereto is a copy of the minutes of the meeting of the Board of
      Directors of the Company relating thereto, certified by an executive officer
      of
      the Company as true and correct and in full force and effect.

     

    In
      accordance with the terms of the Trust Agreement, we hereby (a) certify to
      you
      that, if applicable, the provisions of Section 11-51-302(6) and Rule 51-3.4
      of
      the Colorado Statute have been met and (b) authorize you to commence liquidation
      of the Trust Account as
      part
      of the Company’s plan of dissolution and distribution. In connection with this
      liquidation, you are hereby authorized to establish a record date for the
      purposes of determining the shareholders of record entitled to receive their
      per
      share portion of the Trust Account. The record date shall be within ten (10)
      days of the liquidation date, or as soon as thereafter as is practicable.
You
      will
      notify the Company and ______________ (“Designated Paying Agent”) in writing as
      to when all of the funds in the Trust Account will be available for immediate
      transfer (“Transfer Date”). The Designated Paying Agent shall thereafter notify
      you as to the account or accounts of the Designated Paying Agent that the funds
      in the Trust Account should be transferred to on the Transfer Date so that
      the
      Designated Paying Agent may commence distribution of such funds in accordance
      with the terms of the Trust Agreement and the Company’s Amended and Restated
      Certificate of Incorporation. Upon the payment of all the funds in the Trust
      Account, the Trust Agreement shall be terminated and the Trust Account
      closed. 

     

    

    
      	
              Very
                truly yours,

            
	 
	
              SPRING
                CREEK ACQUISITION CORP.

            
	 
	
              By:

            	  

	 	
              Name:

            
	 	
              Title:
                Chief Executive Officer

            
	 	 
	
              By:

            	   

	 	
              Name:

            
	 	
              Title:
                Chief Financial Officer

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      D

     

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

              FOR
                TELEPHONE CALL BACK

            	 	
              AUTHORIZED

              TELEPHONE
                NUMBER(S)

            
	 	 	 
	
              Company:

            	 	 
	 	 	 
	
              Spring
                Creek Acquisition Corp.

              10F, Room #1005, Fortune Int’l Building

              No.
                17, North DaLinShu Road

              Hai
                Dian District, Beijing 10081

              People’s
                Republic of China

              Attn:
                James Cheng-Jee Sha

              Chief
                Executive Officer 

            	 	
              +86-106214-3501

            
	 	 	 
	
              Trustee:

            	 	 
	 	 	 
	
              American Stock Transfer & Trust Company

              59
                Maiden Lane

              New
                York, New York 10038

              Attn:
                

            	 	
              (212)

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