Document:

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EXHIBIT 10.2

SECURITIES ESCROW AGREEMENT

     This Securities Escrow Agreement (this “Agreement”) is made as of [•], 2008, by and among CR Acquisition Corp., a Delaware corporation (the “Company”), each of the parties set
forth on Exhibit A hereto (collectively, the “Investors”), and Continental Stock Transfer
& Trust Company, a New York corporation (the “Escrow Agent”). 

     
 WHEREAS, the Company has entered into an Underwriting Agreement, dated [•], 2008 (the
“Underwriting Agreement”), with Deutsche Bank Securities Inc. (“Deutsche Bank”)
acting as representative of the several underwriters (collectively, the “Underwriters”), pursuant to which, among other matters, the Underwriters have agreed to
purchase 15,000,000 units (the “Units”) of the Company’s securities in connection with the Company’s initial public offering (the “IPO”) of units. Each Unit consists of one share of the Company’s common stock, par value $0.0001 per share (“Common Stock”), and one warrant (a “Warrant”) exercisable to purchase one share of Common Stock, all as more fully described in the Company’s final
Prospectus dated [•], 2008, comprising part of the Company’s Registration Statement on Form S-1 (File No. 333-150106) under the Securities Act of 1933, as amended (the
“Registration Statement”), declared effective on [•], 2008 (the “Effective Date”); 

      WHEREAS, the Company and CR Acquisition I, LLC (the “Sponsor”) have entered into that certain Amended and Restated Founder Unit Subscription Agreement, dated as of April 2, 2008 (the “Founder Unit
  Subscription Agreement”), the Sponsor and certain Investors have entered into that certain Unit Purchase Agreement dated April 2, 2008 (the “Unit Subscription
    Agreement”), and the Company and Sponsor have entered into that certain Sponsor Warrant Subscription Agreement, dated as of [•],
      2008 (the “Warrant Subscription Agreement” and, together with the Founder Unit Subscription Agreement and Unit Subscription Agreement, the “Subscription Agreements”);

     
 WHEREAS, the Investors have agreed, as a condition of the Underwriters’ obligation to purchase the Units pursuant to the Underwriting Agreement, to deposit the Sponsor Warrants (as defined in the Sponsor Warrant Purchase Agreement, the “Escrow Warrants”) and the Founder
Units (as defined in the Founder Unit Subscription Agreement, the “Escrow Units;” the Escrow Units, the Escrow Warrants and all securities underlying such Escrow
Units and Escrow Warrants being referred to herein collectively as the “Escrow Securities”) purchased by the Investors pursuant to the Subscription Agreements, which
are set forth opposite their respective names in Exhibit A attached hereto, in escrow as hereinafter provided; and

     
 WHEREAS, the Company and the Investors desire that the Escrow Agent accept the Escrow Securities, in escrow, to be held and disbursed as hereinafter provided.

     
 NOW, THEREFORE, in consideration of the premises and mutual covenants, representations and warranties contained herein and intending to be legally bound hereby, the parties hereto
agree as follows: 

      Section 1. Appointment of Escrow Agent. The Company and the Investors hereby appoint the Escrow Agent to act in accordance with and subject to the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to
  such terms.

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Section 2. Deposit
of Escrow Securities.

     2.1  Founder Units.
On or before the Effective Date, the Investors shall deliver to the Escrow Agent certificates representing their respective Escrow Units as set forth opposite each Investor’s respective name on Exhibit
A hereto, which certificates shall remain in the name of such Investor, to be held and disbursed subject to the terms and conditions of this Agreement. Each Investor acknowledges that the certificates
representing its Escrow Units are legended to reflect the deposit of such Escrow Units in escrow under this Agreement. In the event the Underwriters do not exercise in full the over-allotment option (the “Over-Allotment Option”) granted to them by the Company pursuant to the Underwriting Agreement, dated the date hereof, among the Underwriters and the Company, the number of Escrow Units shall be
reduced following any forfeiture of Founder Units pursuant to Section 3 of the Founder Unit Subscription Agreement.

      2.2 Sponsor Warrants. Promptly following the consummation of the IPO,
the Sponsor shall deliver to the Escrow Agent certificate(s) representing the Sponsor’s respective Escrow Warrants as set forth opposite its name on Exhibit A hereto,
which certificate(s) shall remain in the name of the Sponsor, to be held and disbursed subject to the terms and conditions of this Agreement. The Sponsor acknowledges that the certificates representing its Escrow Warrants are legended to reflect the
deposit of such Escrow Warrants in escrow under this Agreement.

     
Section 3. Disbursement of the Escrow Securities.

 The Escrow Agent shall hold the Escrow Warrants until the date of consummation of a Business Combination by the Company (the “Warrant Escrow Period”) and the Escrow Units until the date that is 180 days after the date of the consummation of a Business Combination by the Company (the “Unit Escrow Period” and, together with the Warrant Escrow Period, the “Escrow Period”), on which respective dates the Escrow Agent shall, upon written instructions
from the Company or counsel to the Company, disburse each Investor’s Escrow Securities to such Investor; provided, however, that in the event the Underwriters do not exercise in full the Over-Allotment Option, the Escrow Agent shall, upon
receipt of a certificate, executed by the Chief Executive Officer and President of the Company, in a form reasonably acceptable to the Escrow Agent, certifying as to the forfeiture of the Escrow Units as described in Section 2.1 hereof, cancel the
number of Escrow Units to be forfeited pursuant to Section 3 of the Amended and Restated Founder Unit Subscription Agreement; provided, further, however, that if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the
Company is being liquidated at any time during the Escrow Period then the Escrow Agent shall promptly destroy the certificates representing the Escrow Securities; provided further, however, that if, after the Company consummates a Business
Combination, the Company (or the surviving entity) subsequently consummates a liquidation, merger, stock exchange, asset or stock acquisition, exchangeable share transaction, joint venture or other similar transaction which results in all of the
Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property, then the Escrow Agent will, upon receipt of a certificate, executed by the Chief Executive Officer and President, in form
reasonably acceptable to the Escrow Agent, certifying that such transaction is then being consummated, release the Escrow Securities to the Investors upon consummation of the transaction so that they can similarly participate. The Escrow Agent shall
have no further duties hereunder after the disbursement or destruction, as applicable, of the Escrow Securities in accordance with this Section 3.

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Section 4. Rights of Investors in Escrow Securities.

     4.1 Voting Rights as a Stockholder. Subject to the terms of the Insider Letter described in Section 4.4
hereof, and except as herein provided, the Investors shall retain all of their rights as stockholders of the Company during the Escrow Period to vote the shares of common stock included in their Escrow Securities.

     4.2 Dividends and Other Distributions in Respect of the Escrow Securities. During the Escrow Period, any
dividends payable in cash with respect to the Escrow Securities shall be paid to the Investors, but all dividends payable in stock or other non-cash property (the “Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term “Escrow Securities” shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

     4.3 Restrictions on Transfer. During the Warrant Escrow Period, no sale, transfer or other disposition may
be made of any or all of the Escrow Warrants and, during the Unit Escrow Period, no sale, transfer or other disposition may be made of any or all of the Escrow Units, except, in each case, (a) with respect to an Investor that is a legal entity, to
any legal entity controlling, controlled by or under common control with, such Investor, and (b) with respect to an Investor who is an individual, (i) to a member of such Investor’s immediate family or to a trust, the beneficiary of which is
the Investor or a person related to an Investor by blood, marriage or adoption, (ii) by virtue of the laws of descent and distribution upon death of any Investor, or (iii) pursuant to a qualified domestic relations order; provided, however, that
such permitted transfers may be implemented only upon the respective transferee’s written agreement to be bound by the terms and conditions of (x) this Agreement and (y) the Insider Letter signed by the Investor transferring the Escrow
Securities or an Insider Letter signed by such transferee containing terms and conditions no less favorable to the Company than the Insider Letter signed by the Investor transferring the Escrow Securities. No Investor shall pledge or grant a
security interest in, or any option or other right to acquire, his, her or its Escrow Securities or grant a security interest in his, her or its rights under this Agreement during each respective Escrow Period. 

     4.4 Insider Letters. Each of the Investors has executed a letter agreement with Deutsche Bank and the
Company, dated as indicated on Exhibit A hereto, and which is filed as an exhibit to the Registration Statement (each, an “Insider
Letter”), with respect to the rights and obligations of such Investor in certain events, including, but not limited to, the liquidation of the Company.

     
Section 5. Concerning the Escrow Agent.

     5.1 Good Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in
good faith and in the exercise of its own best judgment, and 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 Escrow Agent), 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 Escrow
Agent to be genuine and to be signed or presented by the proper person or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement unless evidenced by a writing
delivered to the Escrow Agent signed by the Company and, if the duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

     5.2 Indemnification. The Escrow Agent shall be indemnified and
held harmless by the Company from and against any expenses, including reasonable counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding involving any claim which in any way,
directly or indirectly, arises out of or relates to this Agreement, the services of the 

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Escrow Agent hereunder, or the Escrow Securities held by it hereunder, other than expenses or losses arising from the gross negligence or willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow
Agent of notice of any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion,
may commence an action in the nature of interpleader in an appropriate court to determine ownership or disposition of the Escrow Securities or it may deposit the Escrow Securities with the clerk of any appropriate court or it may retain the Escrow
Securities pending receipt of a final, non-appealable order of a court having jurisdiction over all of the parties hereto directing to whom and under what circumstances the Escrow Securities are to be disbursed and delivered. The provisions of this
Section 5.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

     5.3 Compensation. The Escrow Agent shall be entitled to the fees set forth on Exhibit B hereto for all services rendered by it hereunder. The Escrow Agent shall also be entitled to reimbursement from the
Company for all reasonable expenses paid or incurred by it in the administration of its duties hereunder including, but not limited to, all legal counsel, advisors’ and agents’ fees and disbursements and all taxes or other governmental
charges.

     5.4 Further Assurances. From time to time on and after the date hereof, the Company and the Investors
shall deliver, or cause to be delivered, to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably request to carry out more effectively the provisions and
purposes of this Agreement, to evidence compliance herewith or to assure itself that it is protected in acting hereunder.

     5.5 Resignation. The Escrow Agent may resign at any time and be discharged from its duties as escrow agent
hereunder by its giving the other parties hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time that the Escrow Agent shall turn over to a successor escrow
agent appointed by the Company the Escrow Securities held hereunder. If no new escrow agent is so appointed within the 60-day period following the giving of such notice of resignation, the Escrow Agent may submit an application to deposit the Escrow
Securities with the United States District Court for the Southern District of New York, provided the Escrow Agent provides notice of such deposit to the Company and the Investors in accordance with Section 6.7 hereof.

     5.6 Discharge of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow
agent hereunder if so requested in writing at any time by the Company and a majority of the holders in interest of the Escrow Units, jointly, provided, however, that such resignation shall become effective only upon acceptance of appointment by a
successor Escrow Agent as provided in Section 5.5.

     5.7 Liability. Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved
from liability hereunder for its own gross negligence or its own willful misconduct.

     5.8 Waiver. The Escrow Agent hereby waives any and all right, title, interest or claim of any kind
(“Claim”) in or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and
between the Company and the Escrow Agent as trustee thereunder), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

     
Section 6. Miscellaneous.

     6.1 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of New York applicable to contracts executed in and to be performed in that

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State, including, without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations Law and Rule 327(b) of the New York Civil Practice Laws. The parties hereto agree that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and the parties hereto irrevocably
submit to such jurisdiction, which jurisdiction shall be exclusive. The parties hereto hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

     6.2 Waiver of Trial by Jury. Each party hereto hereby irrevocably and unconditionally waives the right to
a trial by jury in any action, suit, counterclaim or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or relating to this Agreement, the transactions contemplated hereby, or the actions of the parties in
the negotiation, administration, performance or enforcement hereof.

     6.3 Third Party Beneficiaries. Each of the Investors hereby acknowledges that the Underwriters are third
party beneficiaries of this Agreement and this Agreement may not be modified or changed without the prior written consent of Deutsche Bank.

     6.4 Entire Agreement. This Agreement contains the entire agreement of the parties hereto with respect to
the subject matter hereof and, except as expressly provided herein, may not be changed or modified except by an instrument in writing signed by the party to be charged and Deutsche Bank; provided, however, that, if following the date hereof, a
portion of the Founder Units are forfeited as described in Section 2.1 hereof, the Escrow Agent and the Company shall update Exhibit A hereto to reflect the number of Founder
Units so forfeited, and such update shall not require the consent of any other party hereto.

     6.5 Headings. The headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation thereof.

     6.6 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the respective
parties hereto and their legal representatives, successors and assigns. Any corporation or association into which the Escrow Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer all or
substantially all of its corporate trust business and assets as a whole or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation or transfer to which the Escrow Agent is a party,
shall be and become the successor escrow agent under this Escrow Agreement and shall have and succeed to the rights, powers, duties, obligations, immunities and privileges of the Escrow Agent, without the execution or filing of any instrument or
paper or the performance of any further act.

     6.7 Notices. Any notice or other communication required or which may be given hereunder shall be in
writing and shall be sent by certified or registered mail, by private national courier service (return receipt requested, postage prepaid), by personal delivery or by facsimile transmission. Such notice or communication shall be deemed given (a) if
mailed, two days after the date of mailing, (b) if sent by national courier service, one business day after being sent, (c) if delivered personally, when so delivered, or (d) if sent by facsimile transmission, on the second business day after such
facsimile is transmitted, in each case as follows:

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If to the Company, to:

	
                    CR Acquisition Corp.
	
	
                    623 Fifth Avenue, 32nd Floor
	
	
                    New York, New York 10022
	
	
                    Attn: Mario Ciampi
	
	
                    Fax: (212) 756-1480
	
	 

	
	
If to another Investor, to his or her address set forth in Exhibit A.
	
	
And if to the Escrow Agent, to:
	
	 

	
	
                    Continental Stock Transfer & Trust Company
	
	
                    17 Battery Place
	
	
                    New York, New York 10004
	
	
                    Attn: Steven G. Nelson, Chairman and President
	
	
                    Fax: (212) 616-7620
	
	 

	
	
A copy of any notice sent hereunder (which copy shall not constitute notice) shall
	
	
be sent to:
	
	 

	
	
                    Mintz Levin Cohn Ferris Glovsky and Popeo, P.C.
	
	
                    666 Third Avenue
	
	
                    New York, New York 10017
	
	
                    Attn: Kenneth R. Koch, Esq.
	
	
                    Fax No.: (212) 983-3115
	
	 

	
	
If to Deutsche Bank or the Underwriters, to:
	
	 

	
	
                    Deutsche Bank Securities Inc.
	
	
                    60 Wall Street
	
	
                    New York, New York 10005
	
	
                    Attn: Syndicate Manager
	
	
                    Fax: (212) 797-9344
	
	 

	
	
With a copy (which copy shall not constitute notice) to:
	
	 

	
	
                    Debevoise & Plimpton LLP
	
	
                    919 Third Avenue
	
	
                    New York, New York 10022
	
	
                    Attn: Peter J. Loughran, Esq.
	
	
                    Fax: (212) 909-6836
	

     The parties may change the persons and addresses to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided herein for giving
notice.

     6.8 Liquidation of Company. The Company shall give the Escrow Agent written notification of the
liquidation and dissolution of the Company in the event that the Company fails to consummate a Business Combination within the time period specified in the Registration Statement.

     6.9 Counterparts. This Agreement may be executed in several counterparts, each one of which may be
delivered by facsimile transmission and each of which shall constitute an original and together shall constitute but one instrument.

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(Remainder of page intentionally left blank. Signature pages to follow.)

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     IN WITNESS WHEREOF, the undersigned have executed this Securities Escrow Agreement as of the date first written above.

	 	CR ACQUISITION CORP.
	 	 	 
	 	 	 
	 	By:   	 
	 	Name:	 
	 	Title: 	 
	 	 
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST
	 	COMPANY
	 	 	 
	 	 
	 	 	 
	 	By:   	 
	 	Name:	 
	 	Title: 	 
	 	 
	 	 	 
	 	 	 
	 	INVESTORS:
	 	CR ACQUISITION I, LLC.
	 	 	 
	 	 	 
	 	 	 
	 	By:   	 
	 	Name:	 
	 	Title: 	 
	 	 
	 	 
	 	Jeffry M. Aronsson
	 	 
	 	 
	 	William R. Blumberg
	 	 
	 	 
	 	Melanie B. Cox
	 	 

[Signature Page - Securities Escrow Agreement]

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EXHIBIT A

ESCROW SECURITIES DEPOSITED 

BY EACH INVESTOR

	 		 		
Date of		 		 		 	 		
Number of	
	
Name and Address		 		
Insider		 		
Number of		 		
Sponsor	
	
of Investor		 		
Letter		 		
Founder Units(1)		 		
Warrants	
	
CR Acquisition I, LLC		 		 		 		
4,227,500		 	 		
4,550,000	
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
Joel R. Wiest		 		 		 		
25,000		 	 		
__	
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
Jeffry M. Aronsson		 		 		 		
20,000		 	 		
__	
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
William R. Blumberg		 		 		 		
20,000		 	 		
__	
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
Melanie B. Cox		 		 		 		
20,000		 	 		
—	

 

 

(1) In accordance with Sections 2.1 and 3 of this Agreement, the number of Founder Units to be deposited into escrow are subject to forfeiture in the event
  the Underwriters do not exercise the Over-Allotment Option in full.

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EXHIBIT B

FEE SCHEDULE
 

10a103.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.3

SPONSOR WARRANT SUBSCRIPTION AGREEMENT

     
 This SUBSCRIPTION
AGREEMENT (this “Agreement”)
is made as of the 23rd
 day of May,
2008, by and between CR Acquisition Corp., a Delaware corporation (the
“Company”)
and CR Acquisition I, LLC, a Delaware limited liability company (the “Subscriber”).

     
 WHEREAS, the Company intends to engage in an initial public offering (the “IPO”) of its units (the “Units”), each Unit consisting of one share of the Company’s common stock, par value $0.0001 per share (the
“Common Stock”), and one warrant to purchase one share of Common Stock (a “Warrant”);

     
 WHEREAS,
immediately prior to the pricing of the IPO, the Company desires to sell, and
the Subscriber desires to purchase, in a private placement  (the “Sponsor
Warrant Offering”), an aggregate of
4,550,000 Warrants (the “Sponsor Warrants”),
each Sponsor Warrant entitling the holder thereof to purchase one share of Common
Stock (the “Sponsor Warrant Shares,” and
together with the  Sponsor Warrants, the “Securities”)
at an exercise price of $7.00,
in accordance with the terms of the Sponsor Warrants as set forth in the Warrant
Agreement to be entered into
 by and between the Company and Continental
Stock Transfer & Trust Company, as warrant agent (the “Warrant
Agreement”) in connection with the IPO; and 

     
 WHEREAS, the Subscriber wishes to purchase the number of Sponsor Warrants set forth on Schedule I, and the Company wishes to accept such subscription.

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

     
Section 1 Agreement to Subscribe for Sponsor Warrants

     
 Section 1.1 Purchase and Issuance of the Sponsor Warrants. The
Subscriber hereby agrees to subscribe for and purchase from the Company, and the Company hereby agrees to issue and sell to the Subscriber, the number of Sponsor Warrants set forth adjacent to the Subscriber’s name on Schedule I attached hereto at a purchase price of $1.00 per Sponsor Warrant (the “Per Sponsor Warrant Price”),
on the terms and conditions set forth herein. The aggregate purchase price for the Subscriber’s Sponsor Warrants (the “Sponsor Warrant Purchase Price”) is set
forth adjacent to the Subscriber’s name on Schedule I attached hereto under the caption “Sponsor Warrant Aggregate Purchase Price.”

     
 Section 1.2 Delivery of the Sponsor Warrant Purchase Price. Upon execution of this Agreement, the
Subscriber is hereby bound to fulfill its respective obligations hereunder, and the Subscriber purchasing Sponsor Warrants hereby irrevocably commits to deliver into a trust account (the “Trust
Account”) at JPMorgan Chase, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee (the
“Trustee”), on the date of the closing of the Sponsor Warrant Offering (the “Sponsor Warrant Closing”) the Sponsor Warrant Purchase Price by bank check, wire transfer or such other form of payment as shall be acceptable to the Company, in its sole and absolute discretion.

     
 Section 1.3 Sponsor Warrant Closing. The Sponsor Warrant Closing shall take place at the offices of
the Company, or such other place as may be agreed upon by the parties hereto, immediately prior to the pricing of the IPO.

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 Section 2. Representations and Warranties of the Subscriber. The Subscriber represents and warrants to the Company that:

     
 Section 2.1 No Government Recommendation or Approval. The Subscriber understands that no United States
federal or state agency has passed upon or made any recommendation or endorsement of the Company or the Sponsor Warrant Offering.

     
 Section 2.2 Intent. The Subscriber is purchasing the Securities
solely for investment purposes, for the Subscriber’s own account and not with a view towards the distribution or dissemination thereof, and the Subscriber has no present arrangement to sell the Securities to be purchased by the Subscriber to or
through any person or entity. The Subscriber understands that the Securities to be purchased by the Subscriber must be held indefinitely unless such Securities are subsequently registered under the Securities Act of 1933, as amended (the
“Securities Act”), or an exemption from registration is available.

     
Section 2.3
 Sophisticated Investor.

          (a) The Subscriber has such knowledge and expertise in financial and business matters, knows of the high degree of risk
associated with investments generally, and particularly investments in the securities of companies in the development stage, such as the Company, and is capable of evaluating the merits and risks of the investment in the Securities to be
purchased.

          (b) The Subscriber is able to bear the economic risk of its investment in the Securities for an indefinite period of time
because the Securities and the securities underlying such Securities have not been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is
available.

          (c) The Subscriber has adequate means of providing for its current financial needs and contingencies and will have no
current or anticipated future needs for liquidity that would be jeopardized by the investment in the Securities. The Subscriber can afford a complete loss of its investment in such Securities.

          (d) The Subscriber is an “accredited investor” as that term is defined in Rule 501 of Regulation D promulgated
by the Securities and Exchange Commission (the “SEC”) under the Securities Act.

     
 Section 2.4 Independent Investigation. The Subscriber, in making the
decision to purchase the Securities, has relied upon an independent investigation of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written representations or assurances from the
Company, its officers, directors or employees or any other representative or agent of the Company, other than as set forth in this Agreement. The Subscriber is familiar with the business, operations and financial condition of the Company and has had
an opportunity to ask questions of, and receive answers from, the Company’s officers and directors concerning the Company and the terms and conditions of the offering of the Securities and has had full access to such other information
concerning the Company as the Subscriber has requested.

     
 Section 2.5 Rule 144 Acknowledgements. The Subscriber is aware of the
adoption of Rule 144 by the SEC under the Securities Act (“Rule 144”), which permits limited public resale of securities 

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acquired in a non-public offering, subject to the satisfaction
of certain conditions. The Subscriber understands that the Securities to be purchased
by the Subscriber and the Common Stock underlying such Securities are
“restricted securities” as that term is defined in Rule 144 and that
the Securities and the Common Stock underlying such Securities must be held indefinitely
by the Subscriber unless they are subsequently registered under the Securities
Act or an exemption from such registration, such as Rule 144, is available. The
Subscriber further understands that because the Company is blank check company,
the Securities to be purchased by the Subscriber and the Common Stock underlying
the Securities are subject to Paragraph 1. of Rule 144(i).

     
 Section 2.6 Authority. The Subscriber has all necessary limited
liability company power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. All limited liability company action necessary to be taken by the Subscriber to authorize the execution, delivery and
performance of this Agreement and all other agreements and instruments delivered by the Subscriber in connection with the transactions contemplated hereby has been duly and validly taken and this Agreement has been duly executed and delivered by the
Subscriber. Subject to the terms and conditions of this Agreement, this Agreement constitutes a valid and binding obligation of the Subscriber, enforceable against the Subscriber in accordance with its terms, except as enforceability may be limited
by (a) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws of general application now or hereafter in effect affecting the rights and remedies of creditors and by general principles of equity
(regardless of whether enforcement is sought in a proceeding at law or in equity); and (b) the applicability of the federal and state securities laws and public policy as to the enforceability of the indemnification provisions of this Agreement. The
purchase by the Subscriber of the Securities to be purchased by the Subscriber does not conflict with the organizational documents of the Subscriber or with any material contract by which the Subscriber or its property is bound, or any laws,
regulations or decree, ruling or judgment of any court applicable to the Subscriber or its property. The principal place of business and executive offices of the Subscriber are as set forth on the signature page hereto.

     
 Section 2.7 No Legal Advice from Company. The Subscriber acknowledges
that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement and the other agreements entered into between the parties hereto with the Subscriber’s legal counsel and investment and tax advisors.
Except for any statements or representations of the Company made in this Agreement and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any statements or
representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

     
 Section 2.8 Reliance on Representations and Warranties. The
Subscriber understands that the Securities to be purchased by the Subscriber are being offered and sold to the Subscriber in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and
regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the
applicability of such provisions.

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 Section 2.9 No Advertisements. The Subscriber did not decide to enter
into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act.

     
 Section 2.10 Blank Check Company Status. The Subscriber understands
that the Company is a blank check development stage company recently formed for the purpose of consummating a Business Combination and understands that there is no assurance as to the future performance of the Company and that the Company may never
effectuate a Business Combination.

     
 Section 2.11 Legend. The Subscriber acknowledges and agrees that the
certificates evidencing the Securities to be purchased by the Subscriber and the Common Stock underlying such Securities shall bear a restrictive legend (the “Legend”), in the form and substance as set forth in Section 4.1 hereof, prohibiting the offer, sale, pledge or transfer of the securities, except (a) pursuant to an effective registration statement filed under the Securities Act, (b)
pursuant to an exemption from registration provided by Rule 144 under the Securities Act (if available), and (c) pursuant to any other exemption from the registration requirements of the Securities Act.

     
 Section 3. Representations and Warranties of the Company.
The Company represents and warrants to the Subscriber that:

     
 Section 3.1 Organization and Qualification. The Company is a
corporation duly incorporated and existing in good standing under the laws of the state of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

     
Section 3.2 Authorization; Enforcement

          (a) The Company has the requisite corporate power and authority to enter into and perform its obligations under this
Agreement and to issue the Warrants and, upon proper exercise thereof, the Common Stock, in accordance with the terms hereof. 

          (b) The execution, delivery and performance of this Agreement by the Company and the consummation by it of the
transactions contemplated hereby have been duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its board of directors or stockholders is required. 

          (c)  This Agreement constitutes a valid and binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by Federal and state securities laws or principles of public policy.

     
 Section 3.3 No Conflicts. The execution, delivery and performance of this Agreement and the
consummation by the Company of the transactions contemplated hereby do not (a) result in a violation of the Company’s certificate of incorporation or bylaws or (b) conflict with, or constitute a default under any agreement, indenture or
instrument to which the Company is a party. Other than any SEC or state securities filings that may be required to be made by the Company subsequent to the Sponsor Warrant Closing and any registration statement which may be filed pursuant thereto,
the Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or self-regulatory entity in order

4

for it to perform any of its obligations under this Agreement or issue the Securities in accordance with the terms hereof.

     
Section 4. Legends; Denominations

     
 Section 4.1 Legend. The Company will issue the Securities to be
purchased by the Subscriber in the name of the Subscriber and in such denominations to be specified by the Subscriber prior to the Sponsor Warrant Closing. The Securities will bear the following Legend and appropriate “stop transfer”
instructions:

	 	“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
        ARE SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN A SECURITIES ESCROW
        AGREEMENT (THE “AGREEMENT”) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
        PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS
        DEFINED IN THE AGREEMENT). THE SECURITIES REPRESENTED BY THIS CERTIFICATE
        HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
        (THE “ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
        NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
        OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
        COVERING THESE SECURITIES UNDER THE ACT OR SUCH LAWS OR AN EXEMPTION
        FROM REGISTRATION UNDER THE ACT AND SUCH LAWS WHICH, IN THE OPINION OF
    COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”	 

     
 Section 4.2 The Subscriber’s Compliance. Nothing in this Section
4 shall affect in any way the Subscriber’s obligations and agreement to comply with all applicable securities laws upon resale of the Securities purchased by such the Subscriber.

     
 Section 4.3 Company’s Refusal to Register Transfer of Securities. The Company shall refuse to register any transfer of the Securities if, in the sole judgment of the Company, such purported transfer would not be made (a) pursuant to an effective registration statement filed under the Securities Act,
or (b) pursuant to an available exemption, if any, from the registration requirements of the Securities Act.

     
Section 5. Escrow 

     
 Upon consummation of the IPO, the Subscriber shall enter into a securities escrow agreement by and between the Company and Continental Stock Transfer & Trust Company, as escrow agent (the “Escrow Agent”), substantially in the form attached hereto as Exhibit A (the “Securities Escrow Agreement”), whereby the Sponsor Warrants shall be held in escrow until the consummation of a Business Combination. As used in this Agreement, a “Business Combination” shall mean the Company’s initial acquisition of one or more domestic or international operating businesses or assets with a fair market value of at least 80% of the
Company’s net assets held in trust (net of taxes and amounts permitted to be disbursed for working capital purposes and excluding the amount held in the Trust Account representing deferred underwriting discounts and commissions) at the time of
such acquisition 

5

through a merger, capital stock exchange, asset or stock acquisition, exchangeable share transaction or other similar business combination.

     
Section 6. Forfeiture of Sponsor Warrants 

     
 Section 6.1 Failure to Consummate Business Combination. All of the Sponsor Warrants initially shall be
subject to forfeiture to the Company in accordance with this Section 6. The Sponsor Warrants shall be forfeited to the Company in the event that the Company does not consummate a Business Combination within 24 months after the closing of the IPO
(or, if the Company’s corporate existence is extended and, accordingly, the time within which the Company may consummate a Business Combination is extended, as set forth in the Company’s Registration Statement on Form S-1 (File No.
333-150106), up to 36 months after the closing of the IPO).

     
 Section 6.2 Termination of Rights as Stockholder; Escrow. If the Sponsor Warrants are forfeited in
accordance with this Section 6, then after such time the Subscriber purchasing such Sponsor Warrants (or its respective successors in interest), shall no longer have any rights as holders of such Sponsor Warrants, and the Company shall take such
action as is appropriate to cancel such Sponsor Warrants. To effectuate the foregoing, all certificates representing the Sponsor Warrants shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants
the Company a limited power of attorney for the purpose of effectuating the foregoing.

     
Section 7. Rescission Right Waiver and Indemnification 

     
 Section 7.1 The Subscriber understands and acknowledges that an exemption from the registration requirements of the Securities Act requires that there be no general solicitation of purchasers of the Sponsor Warrants. In
this regard, if the offering of the Units in the IPO were deemed to be a general solicitation with respect to the Sponsor Warrants, the offer and sale of such Sponsor Warrants may not be exempt from registration and, if not, the Subscriber may have
a right to rescind its purchases of the Sponsor Warrants. In order to facilitate the completion of the offering and in order to protect the Company, its stockholders and the Trust Account from claims that may adversely affect the Company or the
interests of its stockholders, the Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as the case may be, to seek rescission of its purchase of Securities.
The Subscriber acknowledges and agrees that this waiver is being made in order to induce the Company to sell the Sponsor Warrants to the Subscriber. The Subscriber agrees that the foregoing waiver of rescission rights shall apply to any and all
known or unknown actions, causes of action, suits, claims, or proceedings (collectively, “Claims”) and related losses, costs, penalties, fees, liabilities and
damages, whether compensatory, consequential or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses reasonably incurred in investigating, preparing or
defending against any Claims, whether pending or threatened, in connection with any present or future actual or asserted right to rescind the purchase of the Sponsor Warrants hereunder.

     
 Section 7.2 The Subscriber agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with his purchase of Securities or any Claim that may arise now or in the future.

     
 Section 7.3 The Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of the foregoing provisions of this Agreement.

6

     
 Section 7.4 The Subscriber agrees that to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, the Subscriber has offered such waiver for the benefit of the Company as an equitable right
that shall survive any statutory disqualification or bar that applies to a legal right. The Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder in this regard.

     
Section 8.  Terms of the Securities 

     
 The Sponsor Warrants shall have terms and provisions set forth in the Warrant Agreement. The Securities and the shares of Common Stock and Warrants underlying the Securities will be granted certain registration rights. In
addition, in the event that a registration statement with respect to the Common Stock underlying the Sponsor Warrants is not effective under the Securities Act, the Subscriber shall not be entitled to exercise the Sponsor Warrants and such Sponsor
Warrants may have no value and expire worthless.

     
Section 9. Assignment and Transfer 

     
 Section 9.1 Assignment of Sponsor Warrants. Notwithstanding anything herein to the contrary, from the
date hereof until the Sponsor Warrant Closing, the Subscriber may assign to any of its controlled affiliates (collectively, the “Permitted Assignees”), the right to
purchase any portion of the Sponsor Warrants (the “Assigned Sponsor Warrants”). In the event of such an assignment, such Permitted Assignees will assume the
Subscriber’s obligations under this Agreement with regard to the Assigned Sponsor Warrants. Each Permitted Assignee will pay to the Company at the Sponsor Warrant Closing an amount equal to the product of the Per Sponsor Warrant Price and the
number of Assigned Sponsor Warrants to be purchased by such Permitted Assignee, and will be bound by the restrictions imposed on the Assigned Sponsor Warrants by this Agreement, including, without limitation, the restrictions set forth in Section
9.2 hereof. Each Permitted Assignee will execute a counterpart signature page to this Agreement, agreeing to be bound by the provisions of this Section 9. At the Sponsor Warrant Closing, the Company will deliver to the Escrow Agent the certificates
representing the Assigned Sponsor Warrants, to be held in escrow in accordance with the terms of the Securities Escrow Agreement.

     
Section 9.2 Transfer Restrictions on Sponsor Warrants

          (a) Except as permitted by Section 9.1, the Subscriber shall not sell, offer to sell, contract or agree to sell, assign,
hypothecate, pledge, donate, encumber, grant any option to purchase or otherwise dispose of any interest in the Sponsor Warrants or the Sponsor Warrant Shares until after the consummation of the Business Combination (the “Sponsor Warrant Lockup Period”).

          (b) Notwithstanding the foregoing, the Subscriber purchasing Sponsor Warrants hereunder may transfer any of the Sponsor
Warrants (i) by transfer to the Subscriber’s relatives and trusts for estate planning purposes, (ii) if the Subscriber is not a natural person, transfers to its members, affiliates and employees, (iii) by virtue of the laws of descent and
distribution upon death of the Subscriber, or (iv) pursuant to a qualified domestic relations order; provided, however, that transfers permitted by this Section 9.2(b) may be
implemented only upon the respective transferee’s written agreement to be bound by the terms and conditions of this Agreement and of the Insider Letter (as defined in the Securities Escrow Agreement) signed by the Subscriber transferring such
Sponsor Warrants and such other documents as the Company may reasonably require. During the Sponsor Warrant Lockup Period, no Subscriber shall pledge or grant a security interest in such the Subscriber’s Sponsor Warrant or grant a security
interest in such the Subscriber’s rights under this Agreement.

7

     
 Section 10. Failure to Consummate IPO. If the Company does not
consummate the IPO for any reason, the Company shall either return to the Subscriber purchasing Sponsor Warrants hereunder the Sponsor Warrant Purchase Price paid by such the Subscriber, without interest, as soon as practicable thereafter or the
Company shall instruct the Trustee holding such funds to do so.

     
Section 11. Miscellaneous

     
 Section 11.1 Governing Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York without regard to the principles of conflicts of laws thereof. The parties agree that any action brought by either party to interpret or enforce any provision of this Agreement shall be
brought in, and each party agrees to, and does hereby, submit to the jurisdiction and venue of, the appropriate state or federal court for the district encompassing the Company’s principal place of business. The parties hereto hereby waive any
right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby.

     
 Section 11.2 Entire Agreement. This Agreement sets forth the entire agreement and understanding
between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature between them.

     
 Section 11.3 Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any
term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the Company and the party against whom enforcement of any such amendment, waiver, discharge or termination is sought.

     
 Section 11.4 Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and to their respective heirs, legal representatives, successors and permitted assigns.

     
 Section 11.5 Independent Counsel. The Subscriber
acknowledges that this Agreement has been prepared on behalf of the Company by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC, counsel to the Company, and that Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC does not represent, and is not
acting on behalf of, the Subscriber. The Subscriber has been provided with an opportunity to consult with the Subscriber’s counsel with respect to this Agreement. 

     
 Section 11.6 Notices. All notices required or permitted hereunder shall be in writing and shall be
deemed effectively given: (a) upon personal delivery to the party to be notified, (b) the next business day if sent by confirmed facsimile, (c) five calendar days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the other party hereto at such
party’s address hereinafter set forth on the signature page hereto, or at such other address as such party may designate by ten days advance written notice to the other party hereto.

     
 Section 11.7 Indemnification. Each party shall indemnify the other against any loss, cost or damages
(including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

8

     
 Section 11.8 Counterparts. This Agreement may be executed in one or more counterparts, all of which
when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf
such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

     
 Section 11.9 Survival. The representations, warranties, covenants and agreements of the parties hereto
shall survive the Sponsor Warrant Closing.

     
 Section 11.10 Severability. In the event that any provision of this Agreement becomes or is declared
by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective if it materially changes the economic
benefit of this Agreement to any party.

     
 Section 11.11 Titles and Subtitles. The titles and subtitles used in this Agreement are used for
convenience only and are not to be considered in construing or interpreting this Agreement.

 

 

(Remainder of page intentionally left blank. Signature pages to follow.)
 

 

9

     
 IN WITNESS WHEREOF, the parties hereto have executed this Sponsor Warrant Purchase Agreement as of the day and year first above written.

 

	 	COMPANY: 
	 	 
	 	 	 
	 	CR ACQUISITION CORP.
	 	 	 
	 	 	 
	 	By:   	 /s/
        Mario Caimpi
	 	Name:	Mario
    Caimpi
	 	Title: 	Chief
        Executive Officer and President
	 	 	 
	 	Address:	 623 Fifth Avenue, 32nd Floor
        

    New York, NY 10022 
	 	 	 
	 	 	 
	 	THE SUBSCRIBER 
	 	 	 
	 	 	 
	 	 
	 	CR ACQUISITION I, LLC
	 	 
	 	 
	 	By:   	Prentice
        Capital Management, LP, its Manager
	 	 
	 	By:   	/s/
        Mathew
        Hoffman
	 	Name:	Mathew
        Hoffman
	 	Title: 	General
        Counsel
	 	 	 
	 	Address:	 623 Fifth Avenue, 32nd Floor 

      New York, NY 10022 

 

[Signature Page - CR Acquisition Corp. - Sponsor Warrant Subscription Agreement]

10

Schedule I

	 		 		
Number of		 		
Sponsor Warrants	
	 		 		
Sponsor Warrants		 		
Aggregate	
	
          The Subscriber		 		
to be Purchased		 		
Purchase Price	
	 	
	
CR Acquisition I, LLC		 		
4,550,000		 		
$4,550,000	

 

11

Exhibit A 

Securities Escrow Agreement

 

 

12

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