Document:

Exhibit 10.4

ACKNOWLEDGEMENT OF CONTINUING
GUARANTY AND CONSENT

Navtech,
Inc., a Delaware corporation (“Parent”), is a party to a Parent Guaranty
dated as of November 22, 2005 (the “Parent Guaranty”) in favor of ABRY
Mezzanine Partners, L.P., individually and as agent, and the other undersigned
entities are parties (directly or by means of a joinder) to the Subsidiary
Guaranty dated as of November 22, 2005 (the “Subsidiary Guaranty” and,
together with the Parent Guaranty, the “Guaranties”, and each a “Guaranty”)
in favor of ABRY Mezzanine Partners, L.P., individually and as agent .

As of
the date hereof, Parent and Navtech Systems Support, Inc., a company
incorporated under the laws of Ontario (the “Company”), have entered
into a Purchase Agreement and Second Amendment to Note Purchase Agreement (the “Second
Amendment”) pursuant to which the Company may issue one or more of the 2007
Tranche B Notes referred to therein (the “2007 Notes”).

Each
of the undersigned hereby acknowledges, consents and agrees to the Second
Amendment.  Specifically and without
limitation, each of the undersigned entities acknowledges and agrees that the
2007 Notes constitute “Notes” under the Note Purchase Agreement, that the
Company’s obligations in respect of the 2007 Notes constitute “Guaranteed
Obligations” under Guaranty to which such undersigned entity is a party, and
that the Guaranty to which such undersigned entity is a party is and remains in
full force and effect as of the date hereof.

[The remainder of this page is intentionally left
blank].

IN
WITNESS WHEREOF, each of the undersigned has executed this Acknowledgement of
Continuing Guaranty and Consent as of this 28th day of August, 2007.

	
   

  	
  NAVTECH, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NAVTECH (UK) LIMITED

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NAVTECH, LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  EUROPEAN AERONAUTICAL GROUP UK LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  EUROPEAN AERONAUTICAL GROUP SWEDEN A.B.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NAVTECH A.B.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:Exhibit
4.2

ORGANIZER WARRANT
AGREEMENT

This
Organizer Warrant Agreement (“Agreement”) is executed as of this         
day of                ,
2007 by Solera National Bancorp, Inc., a Delaware corporation (“Company”), in
favor of the organizers listed on Exhibit A (each, an “Initial Holder”),
in accordance with the terms and subject to the conditions set forth in this
Agreement.

WHEREAS,
the organizers of the Company have undertaken substantial financial risk in
connection with the organization of the Company through direct cash advances
made to the Company and guaranties made by these members on behalf of and for
the benefit of the Company; and

WHEREAS,
in recognition of their efforts in organizing the Company and the financial
risks undertaken, the Company desires to grant to each organizer warrants to
purchase shares of common stock of the Company (each, a “Warrant” and,
collectively, the “Warrants”) in the amounts set forth herein.

NOW,
THEREFORE, in consideration of the foregoing and the agreements hereinafter set
forth, the receipt and sufficiency of which are hereby acknowledged, the Company
and, by acceptance of a Warrant, each Holder (as defined herein) agree as
follows:

1.                                       Grant
of Warrants.  Subject to the terms,
restrictions, limitations and conditions stated in this Agreement, the receipt
and sufficiency of which are hereby acknowledged, the Company hereby grants to
Initial Holder the number of Warrants set forth beside his name on Exhibit A.  Each Warrant initially shall be exercisable
for one fully paid and nonassessable share of common stock, par value $0.01 per
share, of the Company (“Share”), subject to adjustment as provided in Section 11
of this Agreement.  The Initial Holders
and all subsequent registered holders of the Warrants (each, a “Holder” and,
collectively, the “Holders”) shall have the rights and obligations set forth in
this Agreement.

2.                                       Warrant
Certificates.  Each Warrant shall be
evidenced by a warrant certificate, which shall be substantially in the form
attached to this Agreement as Exhibit B (“Warrant Certificate”).  Each Warrant Certificate shall have such
marks of identification or designation and such legends or endorsements thereon
as the Company deems appropriate, so long as they are not inconsistent with the
provisions of this Agreement, or as are required to comply with any law, rule
or regulation applicable to the Company or the Shares.  The Warrant Certificates shall be executed on
behalf of the Company by the manual, facsimile or imprinted signature of its
Chairman of the Board, its President or any senior vice president and shall be
attested by the manual, facsimile or imprinted signature its secretary or cashier,
or any assistant secretary or assistant cashier.

3.                                       Term
of Warrants.  

(a)                                  The term for the
exercise of the Warrants shall begin at 9:00 a.m., Denver, Colorado time on the
date that the Company opens for business (the “Issue Date”).  The term for the exercise of the Warrants shall
expire at 2:00 p.m., Denver, Colorado time on the earlier to occur of (i) the tenth
anniversary of the Issue Date or (ii) the date provided in Section 3(b) of this
Agreement (the ”Expiration Time”).

(b)                                 Notwithstanding any
provision of this Agreement or any Warrant Certificate to the contrary, the
Warrants shall expire, to the extent not exercised, within 45 days following
the receipt of notice from the Company’s state or primary federal regulator (“Regulator”)
that (i) the Company has not maintained its minimum capital requirements (as
determined by the Regulator) and (ii) the Regulator is requiring exercise or
forfeiture of warrants.  Upon receipt of
such notice from the Regulator, the Company promptly shall notify each Holder
that he must exercise the Warrants granted to him prior to the

end of the
45-day period or such earlier period as may be specified by the Regulator or
forfeit such Warrant(s).  In case of
forfeiture, no Holder shall have any cause of action, of any kind or nature,
against the Company or any of its officers or directors with respect to the
forfeiture.  In addition, the Company
shall not be liable to any Holder due to the failure or inability of the Company
to provide adequate notice to Holder.

4.                                       Exercise
of Warrants.  The purchase price per
Share to be paid by a Holder for Shares subject to the Warrants shall be $10.00,
subject to adjustment as set forth in Section 11 of this Agreement (the “Exercise
Price”).  A Holder may exercise Warrants
evidenced by a Warrant Certificate in whole or in part at any time prior to the
Expiration Time by delivering to the secretary of the Company (i) the Warrant
Certificate; (ii) a written notice to the Company specifying the number of
Shares with respect to which Warrants are being exercised; and (iii) a check
for the full amount of the aggregate Exercise Price of the Shares being
acquired.

5.                                       Delivery
of Shares; Partial Exercise.  Upon
receipt of the items set forth in Section 4, and subject to the terms of this
Agreement, the Company shall promptly deliver to, and register in the name of,
the Holder a certificate or certificates representing the number of Shares
acquired by exercise of a Warrant.  In
the event of a partial exercise of Warrant(s), a new Warrant Certificate
evidencing the number of Shares that remain subject to the Warrant shall be
issued by the Company to such Holder or to his duly authorized assigns.

6.                                       Registration
of Transfer and Exchange.

(a)                                  The Company shall
keep, or cause to be kept, at its principal place of business or at such other
location designated by the Company, a register or registers in which, subject
to such reasonable regulations as the Company may prescribe, the registrar and
transfer agent (the “Securities Registrar”) shall register the Warrant
Certificates and the transfers thereof as provided herein (“Securities Register”).  The initial Securities Registrar shall be the
secretary or cashier of the Company, and thereafter, the Securities Registrar
may be removed and/or appointed as authorized by the Company.

(b)                                 Upon surrender for
registration of transfer of any Warrant Certificate, the Company shall issue
and deliver to the Holder or his duly authorized assigns, one or more new
Warrant Certificates of like tenor and in like aggregate amount.

(c)                                  At the option of the
Holder, Warrant Certificates may be exchanged for other Warrant Certificates of
like tenor and in like aggregate amount upon surrender of the Warrant
Certificates to be exchanged.  Upon such
surrender, the Company shall issue and deliver to the Holder or his duly
authorized assigns, one or more new Warrant Certificates of like tenor and in
like aggregate amount.

(d)                                 Every Warrant
Certificate presented or surrendered for registration of transfer or exchange
shall be accompanied (if so required by the Company or the Securities
Registrar) by a written instrument or instruments of transfer, in form
satisfactory to the Company or the Securities Registrar, duly executed by the
registered Holder or by such Holder’s duly authorized attorney in writing.

7.                                       Replacement
of Warrant Certificates.

(a)                                  Upon receipt of
evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of a Warrant Certificate and, in the case of loss, theft or
destruction, on delivery of an indemnity agreement reasonably satisfactory in
form and amount to the Company or, in the case of mutilation, surrender and
cancellation of such Warrant Certificate, the Company shall issue and deliver
to the Holder or his duly authorized assigns, one or more new Warrant
Certificates of like tenor

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and in like aggregate amount.  In
the case of loss, theft or destruction of a Warrant Certificate, prior to the
issuance of a replacement Warrant Certificate, the Company may also require
that a bond be posted in such amount as the Company may determine is necessary
as indemnity against any claim that may be made against it with respect to such
Warrant Certificate.

(b)                                 All Warrants shall be
held and owned under the express condition that the provisions of this Section
are exclusive with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Warrant Certificates and shall preclude (to the
extent lawful) all other rights and remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the
replacement or payment of negotiable instruments or other securities without
their surrender.

(c)                                  Upon the issuance of
any new Warrant Certificate under this Section, the Company may require the
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Company and its agents and counsel) connected therewith.

(d)                                 Every new Warrant
Certificate issued pursuant to this Section shall constitute an additional
contractual obligation of the Company, whether or not the mutilated, destroyed,
lost or stolen Warrant Certificate shall be at any time enforceable by anyone,
and shall be entitled to all the benefits of this Agreement equally and
proportionately with any and all other Warrant Certificates duly issued hereunder.

8.                                       Persons
Deemed Holders.  Prior to the due
presentment of a Warrant Certificate for registration of transfer or exchange,
the Company, any Securities Registrar and any other agent of the Company may
treat the person in whose name such Warrant Certificate is registered in the
Securities Register as the sole Holder of such Warrant Certificate and of the
Warrant represented by such Warrant Certificate for all purposes whatsoever,
and shall not be bound to recognize any equitable or other claim to or interest
in such Warrant Certificate or in the Warrant represented by such Warrant
Certificate on the part of any person and shall be unaffected by any notice to
the contrary.

9.                                       Cancellation.  All Warrant Certificates surrendered for the
purpose of exercise, exchange or registration of transfer shall be cancelled by
the Securities Registrar, and no Warrant Certificates shall be issued in lieu
thereof, except as expressly permitted by the provisions of this Agreement.

10.                                 Fractional
Shares.  The Company shall not be
required to issue Warrant Certificates exercisable for fractional Shares or to
issue fractional Shares upon the exercise of Warrants. Warrant Certificates
exercisable for fractional Shares shall expire as of the Expiration Date, and a
Holder of such Warrant Certificates shall not be entitled to any consideration
of any kind or nature in respect of such Warrant or Warrant Certificate.

11.                                 Stock
Dividends, Splits, Etc.

(a)                                  If, prior to the
Expiration Time, the Company shall subdivide its outstanding Shares into a
greater number of Shares, or declare and pay a dividend of its Shares payable
in additional Shares, the Exercise Price, as then in effect, shall be
proportionately reduced, and the Company shall proportionately increase the
number of Shares then subject to exercise under this Warrant (and not
previously exercised).

(b)                                 If, prior to the
Expiration Time, the Company shall combine its outstanding Shares into a lesser
number of Shares, the Exercise Price, as then in effect, shall be proportionately

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increased, and the Company shall proportionately reduce the number of
Shares then subject to exercise under this Warrant (and not previously
exercised).

12.                                 Reorganization,
Reclassifications, Consolidation or Merger. 
If, prior to the Expiration Time, there shall be a reorganization or
reclassification of the Shares (other than as provided in Section 11 of this
Agreement), or any consolidation or merger of the Company with another entity,
the Holder shall be entitled to receive, during the remainder of the term of
this Agreement and upon payment of the Exercise Price, the number of shares of
stock or other securities or property of the Company or of the successor entity
(or its parent company) resulting from such consolidation or merger, as the
case may be, to which a holder of Shares, deliverable upon the exercise of a
Warrant, would have been entitled upon such reorganization, reclassification,
consolidation or merger; and, in any case, the Company shall make appropriate
adjustments (as determined by the board of directors of the Company in its sole
discretion) in the application of the provisions with respect to the rights and
interests of the Holders so that the provisions set forth in this Agreement
(including the adjustment to the Exercise Price and the number of Shares
issuable upon exercise of the Warrants) shall be applicable, as nearly as may
be practicable, to any shares or other property thereafter deliverable upon the
exercise of this Warrant.

13.                                 Certificate
as to Adjustments; Issuance of New Warrant Certificates.  Within thirty (30) days following any
adjustment provided for in Section 11 or 12 of this Agreement, the Company
shall give written notice of the adjustment to the Holders as provided in
Section 14(a) of this Agreement.  The
notice shall state the Exercise Price as adjusted and the increased or
decreased number of shares purchasable upon the exercise of the Warrant(s) and
shall set forth in reasonable detail the method of calculation for each.  Notwithstanding anything to the contrary set
forth herein or in the Warrant Certificates, the Company may, at its option,
issue new Warrant Certificates evidencing the Warrants, in such form as may be
approved by the Company, to reflect any adjustment or change in the Exercise
Price and the number or kind of stock or other securities or property
purchasable upon exercise of the Warrants.

14.                                 Miscellaneous.

(a)                                  Any notice or other
communication required or permitted to be made hereunder shall be in writing,
duly signed by the party giving such notice or communication and shall be
deemed delivered and effective when given personally or mailed by first-class
registered or certified mail, postage prepaid as follows (or at such other
address for a party as shall be specified by like notice): (i) if given to the Company,
at its principal place of business and (ii) if given to a Holder, at the
address set forth for the Holder on the books and records of the Company.  A notice given to the Company by a Holder
with respect to the exercise of a Warrant shall not be effective until received
by the Company.

(b)                                 The Company shall, at
all times, reserve and keep available out of its authorized and unissued Shares
or out of any Shares held in treasury that number of Shares that will from time
to time be sufficient to permit the exercise in full of all outstanding
Warrants.  The Company shall take all
such action as may be necessary to ensure that all Shares delivered upon
exercise of any Warrants shall, at the time of delivery of the Warrant
Certificates for such Shares, be duly authorized, validly issued, fully paid
and nonassessable.

(c)                                  The Company shall pay
when due and payable any and all federal and state transfer taxes and charges
(other than any applicable income taxes) that may be payable in respect of the issuance
and delivery of Warrant Certificates or of certificates for Shares receivable
upon the exercise of any Warrants; provided, however, that the Company shall
not be required to pay any tax that may be payable in respect of the issuance
and delivery (i) of any Warrant Certificate or stock certificate registered in
a name other than that of the Holder of the Warrant Certificate that has been
surrendered or (ii) of any Warrant Certificate under Section 7.

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(d)                                 No Holder, in his
capacity as such, shall be entitled to vote or receive dividends or shall be
deemed for any other purpose the holder of the Shares or other securities which
may at any time be issuable upon the exercise of such Warrant.  Nothing contained herein or in any Warrant
Certificate shall be construed to confer upon any Holder, in his capacity as
such, any of the rights of a shareholder of the Company, including any right to
vote for the election of directors or upon any matter submitted to shareholders
of the Company at any meeting thereof, to give or withhold consent to any
corporate action, or to receive notices of meeting or other actions affecting
shareholders.

(e)                                  Each Holder, by
accepting a Warrant Certificate, accepts and agrees to the terms of this
Agreement.  The terms of this Agreement
shall be binding upon the Company and the Holders and their respective heirs,
successors, representatives and permitted assigns.  Nothing expressed or referred to herein is
intended or will be construed to give any person other than the Company or the
Holders any legal or equitable right, remedy or claim under or in respect of
this Agreement, or any provision herein contained, it being the intention of
the Company and the Holders that this Agreement, the assumption of obligations
and statements of responsibilities hereunder, and all other conditions and
provisions hereof are for the sole benefit of the Company and the Holders and
for the benefit of no other person.

(f)                                    This
Agreement constitutes the full understanding of the Company and the Holders, a complete
allocation of risks between them and a complete and exclusive statement of the
terms and conditions of their agreement relating to the subject matter hereof
and supersedes any and all prior agreements, whether written or oral, that may
exist between the Company and any Holder with respect thereto.  Except as otherwise specifically provided in
this Agreement, no conditions, usage of trade, course of dealing or
performance, understanding or agreement purporting to modify, vary, explain or
supplement the terms or conditions of this Agreement will be binding unless
hereafter or contemporaneously herewith made in writing and signed by the party
to be bound, and no modification will be effected by the acknowledgment or
acceptance of documents containing terms or conditions at variance with or in
addition to those set forth in this Agreement.

(g)                                 The
headings contained in this Agreement are for convenience of reference only and
will not affect in any way the meaning or interpretation of this
Agreement.  The words “hereof,” “herein”
and “hereunder” and words of similar import when used in this Agreement will
refer to this Agreement as a whole and not to any particular provision in this
Agreement.  Each use herein of the
masculine, neuter or feminine gender will be deemed to include the other
genders.  Each use herein of the plural
will include the singular and vice versa, in each case as the context requires
or as is otherwise appropriate.  The word
“or” is used in the inclusive sense. 
References to a person are also to its permitted successors or assigns.
No provision of this Agreement is to be construed to require, directly or
indirectly, any person to take any action, or omit to take any action, which
action or omission would violate applicable law (whether statutory or common
law), rule or regulation.

(h)                                 This
Agreement shall terminate upon the earlier of (i) the Expiration Time or
(ii) the close of business on the date on which all Warrants shall have
been exercised.

(i)                                     Notwithstanding anything in this Agreement to
the contrary, in no event will the Holder of a Warrant be entitled to receive a
net-cash settlement or other consideration in lieu of physical settlement in
Shares upon exercise of the Warrant if the Shares underlying the Warrant are
not covered by an effective registration statement under federal or applicable
state securities laws.  Accordingly, the
Warrant may expire unexercised and worthless if either a current registration
statement covering the Shares is not effective or if no exemption to registration
of the Shares under federal or applicable state securities laws is available.

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(j)                                     THIS AGREEMENT, EACH WARRANT AND EACH WARRANT
CERTIFICATE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF DELAWARE WITHOUT REGARD TO THE LAWS THAT MIGHT OTHERWISE GOVERN
UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS.  IN THE EVENT OF A DISPUTE INVOLVING THIS
AGREEMENT, THE PARTIES IRREVOCABLY AGREE THAT VENUE FOR SUCH DISPUTE SHALL LIE
EXCLUSIVELY IN A COURT OF COMPETENT JURISDICTION IN DENVER COUNTY, COLORADO.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed by a duly authorized officer as of the date first
above written.

	
  

  	
  SOLERA NATIONAL
  BANCORP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
                           ,
  President

  

 

 7

EXHIBIT A

LIST OF INITIAL HOLDERS

 A-1

EXHIBIT B

FORM OF WARRANT
CERTIFICATE

THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE RESTRICTIONS SPECIFIED IN THAT CERTAIN WARRANT
AGREEMENT DATED AS OF                       ,
2007, BY SOLERA NATIONAL BANCORP, INC., A DELAWARE CORPORATION (“COMPANY”), IN
FAVOR OF THE ORGANIZERS LISTED ON EXHIBIT A THERETO, AS THE SAME MAY BE
AMENDED FROM TIME TO TIME (“AGREEMENT”). 
A COPY OF THE FORM OF THE AGREEMENT IS ON FILE AND MAY BE INSPECTED AT
THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY DURING NORMAL BUSINESS
HOURS.  THE HOLDER OF THIS CERTIFICATE,
BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY THE PROVISIONS OF THE
AGREEMENT.

	
  No. W-       

  	
  Number of Warrants:                    

  

 

SOLERA NATIONAL BANCORP, INC.

WARRANT CERTIFICATE

This
Warrant Certificate certifies that                                      ,
or registered assigns, is the registered holder of a warrant to purchase the
number of fully-paid and non-assessable shares of common stock, $0.01  par value of the Company (“Shares”) set forth
above, at the exercise price, subject to adjustment in certain events (“Exercise
Price”), of $10.00 per share (“Warrant”).

The
Warrant evidenced by this Warrant Certificate is part of a duly authorized
issue of Warrants issued pursuant to the Agreement, which is hereby
incorporated by reference in and made a part of this instrument and is hereby
referred to for a description of the rights, limitation of rights, obligations,
duties and immunities thereunder of the Company and the Holder.  All terms used, but not otherwise defined, in
this Warrant Certificate shall have the meanings assigned to them in the
Agreement.  If any provision of this
Warrant Certificate conflicts with a provision of the Agreement, the provision
of the Agreement shall supercede.

This
Warrant may not be exercised after 2:00 p.m., Denver, Colorado time, on the
earlier to occur of (i) the tenth anniversary of the date that the Company
opens for business, or (ii) the date provided in Section 3(b) of the Agreement
(the “Expiration Time”).

The
Holder may exercise the Warrant evidenced by this Warrant Certificate in whole
or in part at any time prior to the Expiration Time by delivering to the
secretary or the cashier of the Company (i) the Warrant Certificate, (ii) a
written notice to the Company specifying the number of Shares with respect to
which Warrants are being exercised and (iii) a check for the full amount of the
aggregate Exercise Price of the Shares being acquired.

Upon
receipt of the items set forth above, and subject to the terms of the
Agreement, the Company shall promptly deliver to, and register in the name of,
the Holder a certificate or certificates representing the number of Shares
acquired by exercise of this Warrant.  In
the event of a partial exercise of this Warrant, a new Warrant Certificate
evidencing the number of Shares that remain subject to this Warrant shall be
issued by the Company to such Holder or to his duly authorized assigns.  Notwithstanding anything in this Agreement to the contrary, in no event
will the Holder of a Warrant be entitled to receive a net-cash settlement or
other consideration in lieu of physical settlement in Shares upon exercise of
the Warrant if the Shares underlying the Warrant are not covered by an
effective registration statement under federal or

 B-1
 

applicable state securities laws.  Accordingly, the Warrant may expire
unexercised and worthless if either a current registration statement covering
the Shares is not effective or if no exemption to registration of the Shares
under federal or applicable state securities laws is available.

The
Agreement provides that upon the occurrence of certain events the Exercise
Price and the type and/or number of the Company’s securities issuable thereupon
may, subject to certain conditions, be adjusted.  In such event, the Company may, at its
option, issue a new Warrant Certificate evidencing the adjustment in the
Exercise Price and the number and/or type of securities issuable upon the
exercise of the Warrants.

Upon
surrender for registration of transfer of this Warrant Certificate, subject to
the terms of the Agreement, the Company shall issue and deliver to the Holder
or his duly authorized assigns, one or more new Warrant Certificates of like
tenor and in like aggregate amount.

Prior
to the due presentment of this Warrant Certificate for registration of transfer
or exchange, the Company, any Securities Registrar and any other agent of the Company
may treat the person in whose name this Warrant Certificate is registered in
the Securities Register as the sole Holder of this Warrant Certificate and of
the Warrant represented by this Warrant Certificate for all purposes
whatsoever, and shall not be bound to recognize any equitable or other claim to
or interest in this Warrant Certificate or in the Warrant represented by this
Warrant Certificate on the part of any person and shall be unaffected by any
notice to the contrary.

The
Holder, in his capacity as such, shall not be entitled to vote or receive
dividends or shall be deemed from any other purpose the holder of the Shares or
other securities which may at any time be issuable upon the exercise of this
Warrant.  Nothing contained in this
Warrant Certificate shall be construed to confer upon the Holder, in his capacity
as such, any of the rights of a shareholder of the Company, including any right
to vote for the election of directors or upon any matter submitted to
shareholders of the Company at any meeting thereof, to give or withhold consent
to any corporate action, or to receive notices of meeting or other actions
affecting shareholders.

Any
notice or other communication required or permitted to be made by the Holder to
the Company shall be in writing, duly signed by the Holder and shall be deemed
delivered and effective when given personally or mailed by first-class
registered or certified mail, postage prepaid to the Company, at its principal
place of business (or such other address as designated in writing to the Holder
by the Company).  A notice given to the Company
by a Holder with respect to the exercise of this Warrant shall not be effective
until received by the Company.

The Holder understands and acknowledges that upon
exercise of this Warrant, the Holder may recognize taxable income equal to the
difference between the fair market value of the underlying Shares and the
Exercise Price of the Warrant.  Holders
are encouraged to consult with their tax advisors before exercising the
Warrant.

[signature
page to follow]

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IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly
executed under its corporate seal.

Dated
as of                               ,
2007.

	
   

  	
   

  	
  SOLERA NATIONAL BANCORP, INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  [SEAL]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]