Document:

WARRANT PURCHASE AGREEMENT

     

    WARRANT
PURCHASE AGREEMENT (this “Agreement”) made as of this ___________day of _______,
2011 among China VantagePoint Acquisition Company, a Cayman Islands corporation
(the “Company”), and each of (i) Wei Li, Ye (Sophie) Tao and Yiting Li
(collectively, the “Insiders”) and (ii) EarlyBirdCapital, Inc. and/or its
designees (collectively, the “Underwriter” and together with the Insiders, the
“Purchasers”).

     

    WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a
registration statement on Form S-1, as amended (File No. 333-170006) (the
“Registration Statement”), in connection with the Company’s initial public
offering (the “IPO”) of 2,500,000 units (the “Units”), each unit consisting of
one subunit  and one-half of a warrant, with each subunit consisting
of one ordinary share of the Company, $0.001 par value (the “Ordinary Shares”),
and one-half of a warrant (the “Warrants”), each whole Warrant to purchase one
Ordinary Share; and

     

    WHEREAS,
simultaneously with the consummation of the IPO, the Company desires to sell in
a private placement (the “Placement”) an aggregate of 1,500,000 warrants (the
“Insider Warrants”) to the Insiders and an aggregate of 1,142,857 warrants (the
“EBC Warrants” and together with the Insider Warrants, the “Placement Warrants”)
to the Underwriter pursuant to the terms and conditions hereof and as set forth
in the Registration Statement; and

     

    WHEREAS,
each Purchaser desires to acquire the number of Placement Warrants set forth
opposite its name on Schedule A hereto;
and

     

    WHEREAS,
except as provided herein, the Placement Warrants shall be governed by the
Warrant Agreement filed as an exhibit to the Registration Statement;
and

     

    WHEREAS,
the Purchasers are entitled to registration rights with respect to the Placement
Warrants and the Ordinary Shares underlying the Placement Warrants (the
“Underlying Shares”) on the terms set forth in this Agreement;

     

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

     

    1.           Purchase of Placement
Warrants. The Purchasers hereby agree, directly or through their
nominees, to purchase an aggregate of 2,642,857 Placement Warrants at a purchase
price of $0.35 per Placement Warrant, or an aggregate of $925,000 (the “Purchase
Price”). Such purchases shall be in the names and amounts set forth on Schedule A
hereto.

     

    2.           Closing. The closing
of the purchase and sale of the Placement Warrants (the “Closing”) will take
place simultaneously with the closing date (the “IPO Closing Date”) of the IPO.
The Purchasers shall pay the Purchase Price by wire transfer of funds to
Continental Stock Transfer & Trust Company no later than twenty-four hours
prior to the IPO effective date.

    
      
         

      

      
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    3.           Terms of Placement
Warrants.

     

    3.1           Insider
Warrants.  The Insider Warrants shall be identical to the
Warrants except that they are (i) being issued in a private placement and will
not be registered under the Securities Act of 1933, as amended (the “Securities
Act”) and (ii) non-redeemable by the Company and may be exercised on a “cashless
basis” by the holder thereof, in each case provided such Insider Warrants are
held by the initial purchasers or their affiliates.

     

    3.2           EBC Warrants. The EBC
Warrants shall be identical to the Warrants except that (i) they are being
issued in a private placement and will not be registered under the Securities
Act and (ii) if the Company calls the Warrants for redemption but does not
require all holders to exercise their Warrants on a “cashless basis,” the
Company will only be able to call the EBC Warrants for redemption with the prior
consent of the Underwriter, provided the EBC Warrants are held by the initial
purchasers or their affiliates.

     

    4.           Representations and
Warranties of the Purchasers. Each Purchaser hereby represents and
warrants to the Company that:

     

    4.1          The
execution and delivery by the Purchaser of this Agreement and the fulfillment of
and compliance with the respective terms hereof by the Purchaser does not and
shall not as of the Closing conflict with or result in a
breach of the terms, conditions or provisions of any other agreement,
instrument, order, judgment or decree to which the Purchaser is subject
to.

     

    4.2          The
Purchaser is an “accredited investor” as that term is defined in Rule 501 of
Regulation D promulgated under the Securities Act.

     

    4.3          The
Placement Warrants are being acquired for the Purchaser’s own account, only for
investment purposes and not with a view to, or for resale in connection with,
any distribution or public offering thereof within the meaning of the Securities
Act.

     

    4.4          The
Purchaser has the full right, power and authority to enter into this Agreement
and this Agreement is a valid and legally binding obligation of the Purchaser
enforceable against the Purchaser in accordance with its terms.

     

    4.5          The
Purchaser understands that no United States federal or state agency or any other
government or governmental agency has passed on or made any recommendation or
endorsement of the Placement Warrants or the fairness or suitability of the
investment in the Placement Warrants nor have such authorities passed upon or
endorsed the merits of the offering of the Placement Warrants.

     

    5.           Registration Rights.
The Purchasers shall have registration rights pursuant to that certain
Registration Rights Agreement, dated as of the date hereof, by and among the
Company and the Investors listed on the signature page thereto substantially in
the form filed as an exhibit to the Registration Statement.

    
      
         

      

      
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    6.           Waiver of Claims Against
Trust Account. Each Purchaser of Placement Warrants hereby waives any and
all right, title, interest or claim of any kind in or to any distributions from
the trust account maintained by the Company’s transfer agent, acting as trustee
(the “Trust Account”) with respect to any Ordinary Shares acquired by such
Purchaser in connection with the exercise of the Placement Warrants purchased
pursuant to this Agreement ("Claim") and hereby waives any Claim the undersigned
may have in the future as a result of, or arising out of, any contracts or
agreements with the Company and will not seek recourse against the Trust Account
for any reason whatsoever.

     

    7.           Legends;
Denominations.  The Placement Warrants, and the Ordinary Shares
underlying such Placement Warrants, will bear the following legend and
appropriate "stop transfer" instructions:

    

    THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES 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 UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.

     

    8.           Waiver and
Indemnification. Each Purchaser hereby waives any and all rights to
assert any present or future claims, including any right of rescission, against
the Company with respect to their purchase of the Placement Warrants, and each
Purchaser agrees jointly and severally to indemnify and hold the Company
harmless from all losses, damages or expenses that relate to claims or
proceedings brought against the Company by Purchasers of the Placement
Warrants.  Additionally, each of the Insiders hereby waives any and
all rights to assert any present or future claims, including any right of
rescission, against the Underwriter with respect to their purchase of the
Placement Warrants, and each of the Insiders agrees jointly and severally to
indemnify and hold the Underwriter harmless from all losses, damages or expenses
that relate to claims or proceedings brought against the Underwriter by the
Insiders of the Placement Warrants

     

    9.           Counterparts;
Facsimile. This Agreement may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same instrument. This
Agreement or any counterpart may be executed via facsimile transmission, and any
such executed facsimile copy shall be treated as an original.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    10.          Governing Law. This
Agreement shall for all purposes be deemed to be made under and shall be
construed in accordance with the laws of the State of New York. Each of the
parties hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be resolved through final
and binding arbitration in accordance with the International Arbitration Rules
of the American Arbitration Association (“AAA”).  The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s
offices in New York City, New York, will be conducted in English and will be
decided by a panel of three arbitrators selected from the AAA Commercial
Disputes Panel and that the arbitrator panel’s decision shall be final and
enforceable by any court having jurisdiction over the party from whom
enforcement is sought.  Each of the parties hereby waives any
objection to such exclusive jurisdiction and that such arbitration represent an
inconvenient forum.

     

    IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the ____day
of ______________, 2011.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	CHINA
      VANTAGEPOINT ACQUISITION COMPANY
	 	 
	
                                                By:

                                              	
                                                 
        

                                              
	
                                                Name:

                                              	 
      
	
                                                Title:

                                              	 
      
	 
      	 
      
	
                                                PURCHASERS:

                                              
	 
      	 
      
	
                                                EARLYBIRDCAPITAL,
      INC.

                                              
	 
      	 
      
	
                                                By:

                                              	
                                                 
        

                                              
	
                                                Name:

                                              	 
      
	
                                                Title:

                                              	 
      
	 
      	 
      
	
                                                 
        

                                              
	
                                                Wei
      Li

                                              
	 
      
	 
        
	
                                                Ye
      (Sophie) Tao

                                              
	 
      
	
                                                    

                                              
	
                                                Yiting
      Liu

                                              

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    SCHEDULE
A

    

    
      
        
          	
                  
                    Purchaser

                  

                	 	
                  
                    Placement Warrants

                  

                	 	 	
                  
                    Purchase Price

                  

                	 
	
                  EarlyBirdCapital,
      Inc.

                	 	 	1,142,857	 	 	$	400,000.00	 
	
                  Wei
      Li

                	 	 	500,000	 	 	$	175,000	 
	
                  Ye
      (Sophie) Tao

                	 	 	500,000	 	 	$	175,000	 
	
                  Yiting
      Liu

                	 	 	500,000	 	 	$	175,000	 
	
                  Total:

                	 	 	2,642,857	 	 	$	925,000.00	 

        

      

    

     

    
      
         

      

      
        5China
VantagePoint Acquisition Company

     

    465
Brickell Avenue, #617

    Miami,
Florida 33131

     

    _________________, 2011

    

    Ray Shi
Capital Group, LLC

    [Address]

    [Address]

     

    Gentlemen:

     

    This letter will confirm our agreement
that commencing on the effective date (the “Effective Date”) of the registration
statement (the “Registration Statement”) relating to the initial public offering
of the securities of China VantagePoint Acquisition Company (the “Company”) and
continuing until the consummation by the Company of a business combination or
the distribution of the trust account to the Company’s then public shareholders
(as described in the Registration Statement), Ray Shi Capital Group, LLC (the
“Firm”) shall make available to the Company certain general and administrative
services, including the use of office space, utilities and secretarial support,
as may be required by the Company from time to time, at [__________________] (or
any successor location).  In exchange therefore, the Company shall pay
the Firm at the rate of $7,500 per month.

     

    
      
        	 
      	
                Very
      truly yours,

              
	 	 
	 
      	
                CHINA
      VANTAGEPOINT ACQUISITION COMPANY

              
	 
      	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:
      Wei Li

              
	 
      	 
      	
                Title:
      Chief Executive Officer

              

      

    

    

    
      	
              Agreed
      to and Accepted by:

            	 
      
	 
      	 
      
	
              RAY
      SHI CAPITAL GROUP, LLC

            	 
      
	 
      	 
      	 
      
	
              By: 

            	 
      	 
      
	 
      	
              Name:

            	 
      
	 
      	
              Title:

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