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Exhibit 10.17  

 
  FIFTH AMENDMENT TO LOAN AGREEMENT    

        This
FIFTH AMENDMENT TO LOAN AGREEMENT (this "Amendment"), dated as of December 21, 2007, is entered into by and among CASCADE
CORPORATION, an Oregon corporation, (the "Borrower"), the several financial institutions party as of the date hereof to the Loan Amendment referred to
below (collectively called the "Lenders" and individually called a "Lender"), and BANK OF AMERICA, N.A., as agent for itself and the Lenders (in such
capacity, the "Agent"). 

RECITALS 

        A.    The
Borrower, the Lenders and the Agent are parties to a Loan Agreement, dated as of February 28, 2003 (as amended from time to time, the
"Loan Agreement"). 

        B.    Pursuant
to the Loan Agreement, the Lenders have extended and are continuing to extend certain credit facilities to the Borrower. 

        C.    The
Borrower, the Agent and the Lender desire to increase the Aggregate Commitments, as defined in the Loan Agreement, from $125,000,000 to $150,000,000, along with
certain other modifications. 

        D.    The
Agent and Lenders are willing to amend the Loan Agreement, but only as provided, and subject to the terms and conditions contained, in this Amendment. 

        THEREFORE,
for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

        1.    Defined Terms.    Unless otherwise defined herein, each capitalized term used herein shall have the meaning
assigned thereto in the Loan Agreement. 

        2.    Amendment to Loan Agreement.    Upon the effectiveness of, and subject to the terms and conditions contained in,
this Amendment: 

        (a)   Section 2.1(a)
is hereby amended to revise each Lender's "Commitment Amount," and delete the allocation of "Aggregate Commitments" between the Lenders and replace
it with the following: 

	Lender
 
	 	Percentage

Interest
	 	Commitment

Amount

	Bank of America	 	60.00	%	$	90,000,000
	Union Bank	 	40.00	%	$	60,000,000
	 	 	
	 	

	Total	 	100.00	%	$	150,000,000

        Pursuant
to the schedule set forth below, the Aggregate Commitments shall be reduced by $1,250,000 on a quarterly basis beginning on March 31, 2008, and continuing on the last day
of each subsequent quarter for so long as this credit facility is outstanding. The Lenders' 

 

respective
percentage interests shall remain unchanged as the Aggregate Commitments are reduced. 

	Period
 
	 	Aggregate Commitments

	From the date of this Amendment through and including March 31, 2008	 	$	150,000,000
	April 1, 2008 through June 30, 2008	 	$	148,750,000
	July 1, 2008 through September 30, 2008	 	$	147,500,000
	October 1, 2008 through December 31, 2008	 	$	146,250,000
	January 1, 2009 through March 31, 2009	 	$	145,000,000
	April 1, 2009 through June 30, 2009	 	$	143,750,000
	July 1, 2009 through September 30, 2009	 	$	142,500,000
	October 1, 2009 through December 31, 2009	 	$	141,250,000
	January 1, 2010 through March 31, 2010	 	$	140,000,000
	April 1, 2010 through June 30, 2010	 	$	138,750,000
	July 1, 2010 through September 30, 2010	 	$	137,500,000
	October 1, 2010 through December 31, 2010	 	$	136,250,000
	January 1, 2011 through March 31, 2011	 	$	135,000,000
	April 1, 2011 through June 30, 2011	 	$	133,750,000
	July 1, 2011 through September 30, 2011	 	$	132,500,000
	October 1, 2011 through December 7, 2011	 	$	131,250,000

        3.    Representations and Warranties.    The Borrower hereby represents and warrants to the Agent and
the Lenders as follows: 

        (a)   No
Default or Event of Default has occurred and is continuing. 

        (b)   The
execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate and other action and do not and will not
require any registration with, consent or approval of, or notice to or action by any Person (including any Governmental Person) in order to be effective and/or enforceable. Each of this Amendment and
the Loan Agreement as amended by this Amendment constitutes the legal, valid and binding obligation of the Borrower, enforceable against it, without defense, counterclaim or offset, in accordance with
its terms (subject to the waivers set forth in this Amendment), except as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the
enforceability of creditors' rights. 

        (c)   All
representations and warranties of the Borrower contained in the Loan Agreement and the statements set forth in the recitals of this Amendment are true and correct on
and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date), in each case, other than (i) those
that would not be true and correct but for the effectiveness of this Amendment, and (ii) with respect to Section 5.16 of the Loan Agreement, as otherwise disclosed to the Agent. 

        (d)   The
Borrower is entering into this Amendment on the basis of its own business judgment, without reliance upon the Agent, any Lender or any other Person. 

        4.    Effective Date.    This Amendment will become effective as of the date first set forth above (the
"Effective Date"), provided that each of the following conditions precedent is satisfied on or before
the Effective Date: 

        (a)   the
Agent has received, in sufficient number for each Lender, duly executed originals (or, if elected by the Agent, an executed facsimile copy, to be followed promptly
by delivery of executed originals) of this Amendment, executed by the Borrower and each of the Lenders 

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and
acknowledged by the Agent, together with the Guarantor Acknowledgment and Consent attached hereto, executed by each Guarantor, and such other documentation as Agent shall reasonably require,
including, but not limited to, resolutions authorizing the transaction described herein, and officer's certificates. 

        (b)   all
of the representations and warranties contained herein (or incorporated herein by reference) are true and correct as of the Effective Date. 

        5.    No Further Amendments.    Other than the specific amendments of the Loan Agreement as set forth in
Section 2 hereof: (i) nothing contained herein shall be deemed a waiver of any provision, or any other existing or future noncompliance with any provision, of the Loan Agreement
(including the Loan Agreement as amended hereby); and (ii) all of the terms, covenants and provisions of the Loan Agreement are and shall remain in full force and effect. 

        6.    Miscellaneous.    

        (a)   All
references in the Loan Agreement and in the other Loan Documents to the Loan Agreement shall henceforth refer to the Loan Agreement as amended by this Amendment.
This Amendment shall be deemed incorporated into, and a part of, the Loan Agreement. This Amendment is a Loan Document. 

        (b)   This
Amendment is made pursuant to Section 10.1 of the Loan Agreement and shall be binding upon and inure to the benefit of the parties hereto and thereto and
their respective successors and assigns. No third party beneficiaries are intended in connection with this Amendment. 

        (c)   This
Amendment shall be governed by and construed in accordance with the law of the State of Oregon. 

        (d)   This
Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts together shall constitute but one and
the same instrument. Each of the parties hereto understands and agrees that this document (and any other document required herein) may be delivered by any party thereto either in the form of an
executed original or an executed original sent by facsimile transmission to be followed promptly by delivery of a hard copy original, and
that receipt by the Agent of a facsimile transmitted document purportedly bearing the signature of a Lender or the Borrower (or Guarantor) shall bind such Lender or the Borrower (or Guarantor),
respectively, with the same force and effect as the delivery of a hard copy original. Any failure by the Agent to receive the hard copy executed original of such document shall not diminish the
binding effect of receipt of the facsimile transmitted executed original of such document of the party whose hard copy page was not received by the Agent. 

        (e)   If
any term or provision of this Amendment shall be deemed prohibited by or invalid under any applicable law, such provision shall be invalidated without affecting the
remaining provisions of this Amendment or the Loan Agreement, respectively. 

        (f)    Each
of the provisions set forth in Section 10 of the Loan Agreement is incorporated herein by this reference and made applicable to this Amendment. 

        (g)   The
Borrower covenants to pay to or reimburse the Agent, upon demand, for all reasonable costs and expenses (including reasonable attorneys' fees) incurred in connection
with the development, preparation, negotiation, execution and delivery of this Amendment. 

        (h)   UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR
PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER'S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE.

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        IN
WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered as of the date first written above. 

	CASCADE CORPORATION, as the Borrower	 	BANK OF AMERICA, N.A., as Agent
	

By:	
 	

/s/  JOHN CUSHING      
	
 	

By:	
 	

/s/  TIFFANY SHIN      

	Name:	 	John Cushing
	 	Name:	 	Tiffany Shin

	Title:	 	Treasurer
	 	Title:	 	Assistant Vice President

	 	 	December 21, 2007	 	 	 	December 21, 2007
	

BANK OF AMERICA, N.A., as a Lender	
 	

UNION BANK OF CALIFORNIA, N.A., as a Lender
	

By:	
 	

/s/  ERIC EIDLER      
	
 	

By:	
 	

/s/  STEPHEN SLOAN      

	Name:	 	Eric Eidler
	 	Name:	 	Stephen Sloan

	Title:	 	Senior Vice President
	 	Title:	 	Vice President

	 	 	December 21, 2007	 	 	 	December 21, 2007

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GUARANTOR ACKNOWLEDGMENT AND CONSENT 

        The
undersigned Guarantor hereby: (i) acknowledges and consents to the terms, and the execution, delivery and performance, of the foregoing Amendment (the
"Amendment") (without implying the need for any such acknowledgment or consent); and (ii) represents and warrants to the Agent and the Lenders
that, both before and after giving effect to the Amendment: (A) its Guaranty remains in full force and effect as an enforceable obligation of such Guarantor (except as enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforceability of creditors' rights), without defense, counterclaim or offset; and
(B) it is in compliance with all of its covenants contained in its Guaranty and in each other Loan Document applicable to it. The undersigned further represents and warrants to the Agent and
the Lenders that the execution and delivery by such Guarantor of, and the performance by such Guarantor of its obligations under, this Guarantor Acknowledgment and Consent, have been duly authorized
by all necessary corporate and other action and do not and will not require any registration with, consent or approval of, or notice to or action by any Person (including, without limitation, any
Governmental Person) in order to be effective and/or enforceable. The undersigned remakes as of the Effective Date (as defined in the Amendment) all of the representations and warranties made by it
under its Guaranty. Capitalized terms used herein and not otherwise defined have the respective meanings assigned to them in the Loan Agreement (as defined in the Amendment). 

        IN
WITNESS WHEREOF, the undersigned Guarantor has executed this Guarantor Acknowledgment and Consent by its duly authorized officer as of December 21, 2007. 

	 	 	PSM LLC
	

 	
 	

By:	
 	

/s/  JOHN CUSHING      

	 	 	Name:	 	John Cushing

	 	 	Title:	 	Treasurer

	 	 	 	 	December 21, 2007

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FIFTH AMENDMENT TO LOAN AGREEMENTExhibit 4.4

 

WARRANT AGREEMENT

 

This Warrant Agreement (the “Agreement”) made as of
                    ,
2008, between K Road Acquisition Corporation, a Delaware corporation, with
offices at 330 Madison Avenue, 25th Floor, New York, NY 10017 (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation, with offices at 17 Battery Place, New
York, New York 10004 (the “Warrant Agent”).

 

WHEREAS, the Company is
engaged in a public offering (the “Public Offering”)
of units of the Company (“Units”) and, in
connection therewith, has determined to issue and deliver up to (i) 34,500,000
Warrants (the “Public Warrants”) to the public
investors, each of such Public Warrants evidencing the right of the holder
thereof to purchase one share of common stock, par value $.0001 per share, of
the Company’s common stock (“Common Stock”)
for $7.50, subject to adjustment as described herein;

 

WHEREAS, immediately prior
to the completion of the Public Offering, the Company shall sell and issue
7,750,000 Warrants in a private placement (the “Insider
Warrants” and, together with the Public Warrants, the “Warrants”) pursuant to that certain warrant subscription
agreement between the Company and K Road Acquisition Holdings LLC (the “Sponsor”) dated
                    ,
2008 (the “Warrant  Subscription
Agreement”), each of such Insider Warrants evidencing the right of
the holder thereof to purchase one share of Common Stock for $7.50;

 

WHEREAS, the Company has
filed with the Securities and Exchange Commission (the “SEC”)
a registration statement, No. 333-149021 on Form S-1 (“Registration Statement”) for the registration under the
Securities Act of 1933, as amended (“Act”) of, among
other securities, the Public Warrants;

 

WHEREAS, the Company desires
the Warrant Agent to act on behalf of the Company, and the Warrant Agent is
willing to so act, in connection with the issuance, registration, transfer,
exchange, redemption and exercise of the Warrants;

 

WHEREAS, the Company desires
to provide for the form and provisions of the Warrants, the terms upon which
they shall be issued and exercised, and the respective rights, limitation of
rights, and immunities of the Company, the Warrant Agent and the holders of the
Warrants; and

 

WHEREAS, all acts and things
have been done and performed which are necessary to make the Warrants, when
executed on behalf of the Company and countersigned by or on behalf of the
Warrant Agent, as provided herein, the valid, binding and legal obligations of
the Company, and to authorize the execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto
agree as follows:

 

1.                                       Appointment of Warrant Agent.  The
Company hereby appoints the Warrant Agent to act as agent for the Company for
the Warrants, and the Warrant Agent hereby accepts such appointment and agrees
to perform the same in accordance with the terms and conditions set forth in
this Agreement.

 

2.                                       Warrants.

 

2.1                                 Form of Warrant.  Each
Warrant shall be issued in registered form only.  The Public Warrants shall be in substantially
the form of Exhibit A hereto and the Insider Warrants shall be in
substantially the form of Exhibit B hereto, the provisions of each
of which are incorporated herein, and shall be signed by, or bear the facsimile
signature of, the Chief Executive Officer or President and Chief 

 

 

Financial Officer, Treasurer, Secretary or Assistant Secretary of the
Company and shall bear a facsimile of the Company’s seal.  In the event the person whose facsimile
signature has been placed upon any Warrant shall have ceased to serve in the
capacity in which such person signed the Warrant before such Warrant is issued,
it may be issued with the same effect as if he or she had not ceased to be such
at the date of issuance.

 

2.2                                 Effect of Countersignature. 
Unless and until countersigned by the Warrant Agent pursuant to this
Agreement, a Warrant shall be invalid and of no effect and may not be exercised
by the holder thereof.

 

2.3                                 Registration.

 

2.3.1                        Warrant Register.  The
Warrant Agent shall maintain books (“Warrant Register”)
for the registration of original issuance and the registration of transfer of
the Warrants.  Upon the initial issuance
of the Warrants, the Warrant Agent shall issue and register the Warrants in the
names of the respective holders thereof in such denominations and otherwise in
accordance with instructions delivered to the Warrant Agent by the Company.

 

2.3.2                        Registered Holder. Prior to due presentment for the
registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant shall be registered upon
the Warrant Register (“Registered Holder”),
as the absolute owner of such Warrant and of each Warrant represented thereby
(notwithstanding any notation of ownership or other writing on the Warrant
Certificate made by anyone other than the Company or the Warrant Agent), for
the purpose of any exercise thereof, and for all other purposes, and neither
the Company nor the Warrant Agent shall be affected by any notice to the
contrary.

 

2.4                                 Detachability of Public Warrants.  The
securities comprising the Units will begin to trade separately on the date (the
“Detachment Date”) that is the fifth
business day following the earlier to occur of: (i) the expiration of the
over-allotment option (the “Over-allotment Option”)
granted to Credit Suisse Securities (USA) LLC (the “Underwriter”),
(ii) the exercise in full of the Over-allotment Option (as described more
fully in the Registration Statement), or (iii) the Underwriter’s notice to
the Company of its intention not to exercise all or any remaining portion of
the Over-allotment Option; provided that in no event will separate trading of
the securities comprising the Units commence until the Company files with the
SEC a Current Report on Form 8-K, which includes an audited balance sheet
reflecting the receipt by the Company of the gross proceeds of the sale of the
Units in the Public Offering, including the proceeds received by the Company
from the exercise of the Underwriter’s Over-allotment Option, if the
Over-allotment Option is exercised prior to the filing of the Form 8-K,
and the Company issues a press release announcing the trading date when such
separate trading will begin.

 

3.                                       Terms and Exercise of Warrants.

 

3.1                                 Warrant Price.  Each
Warrant shall, when countersigned by the Warrant Agent, entitle the Registered
Holder thereof, subject to the provisions of such Warrant and this Agreement,
to purchase from the Company the number of shares of Common Stock stated
therein, at the price of $7.50 per whole share, subject to the adjustments
provided in this Section 3.1 and Section 4 hereof.  The term “Warrant
Price” as used in this Agreement refers to the price per share at
which Common Stock underlying a Warrant may be purchased at the time such
Warrant is exercised.  The Company in its
sole discretion may lower the Warrant Price at any time prior to the Expiration
Date for a period of not less than twenty business days, provided that any such
reduction shall be identical among all of the Warrants.

 

2

 

3.2                                 Duration of Warrants.

 

3.2.1                        Public Warrants.  A Public Warrant may be exercised only during the period  commencing on the later of: (i) the consummation by the Company of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction, joint venture or other similar business combination (as described more fully in the Registration Statement, a “Business Combination”), or (ii) [            ], 2009 (one year from the effective date of the Registration Statement), and terminating at 5:00 p.m., New York City time, on the earlier to occur of (x) [            ], 2012 (four years from the effective date of the Registration Statement) or (y) the date fixed for redemption of the Warrants as provided in Section 6 of this Agreement.  Notwithstanding the foregoing, no Public Warrant shall be exercisable unless, at the time of exercise, a registration statement relating to the Common Stock issuable upon the exercise of such Public Warrant is effective and current prospectus is available for use by the holders thereof and the Common Stock has been qualified or deemed to be exempt under the securities laws of the state of residence of the holder of such Public Warrants.
 

3.2.2                        Insider Warrants.  An
Insider Warrant may be exercised only during the period commencing one day
following the consummation of a Business Combination and terminating at 5:00 p.m.,
New York City time, on the earlier to occur of (x) [            ], 2012 (four years from the
effective date of the Registration Statement) or (y) the date fixed for
redemption of the Warrants as provided in Section 6 of this
Agreement.  The Insider Warrants are not
subject to redemption so long as they are held by the Sponsor or its permitted
transferees (as defined below).  Except
as set forth in Section 5.7, the Insider Warrants may not be sold,
assigned or transferred until one day following consummation of a Business Combination.

 

3.2.3                        General. The period during which a Warrant may be exercised shall be deemed
the “Exercise Period” and the termination of
such Exercise Period shall be deemed the “Expiration Date”.  Except with respect to the right to receive
the Redemption Price (as set forth in Section 6 hereunder), each Warrant
not exercised on or before the Expiration Date shall become void, and all
rights thereunder and all rights in respect thereof under this Agreement shall
cease at the close of business on the Expiration Date.  The Company, in its sole discretion, may
extend the duration of the Warrants by delaying the Expiration Date; provided,
however, the Company will provide notice to Registered Holders of the Warrants
of such extension of not less than 20 days; provided, further, that any such
extension shall be identical in duration among all of the Warrants.  In the event that the Company desires to
extend the Expiration Date of the Warrants, the Company shall provide advance
notice of at least 20 days to the American Stock Exchange as required by the
American Stock Exchange.  Notwithstanding
the foregoing, a Warrant can expire unexercised regardless of whether a
registration statement is effective under the Act and a current prospectus is
available for use by the holders thereof.

 

3.3                                 Exercise of Warrants.

 

3.3.1                        Payment.  Subject to the provisions of
the Warrants and this Agreement, a Warrant, when countersigned by the Warrant
Agent, may be exercised by the Registered Holder thereof by surrendering it at
the office of the Warrant Agent, or at the office of its successor as Warrant
Agent, in the Borough of Manhattan, City and State of New York, with the
subscription form, as set forth in the Warrant, duly executed and, except as
set forth in Section 3.4, by paying in full, in lawful money of the United
States, in cash, good certified check or good bank draft payable to the order
of the Company, the Warrant Price for each full share of Common Stock as to
which the Warrant is exercised and any and all applicable taxes due in
connection with the exercise of the Warrant, the exchange of the Warrant for
the Common Stock and the issuance of the Common Stock.

 

3

 

3.3.2                        Issuance of Certificates.  As
soon as practicable after the exercise of any Warrant and the clearance of the
funds in payment of the Warrant Price, the Company shall issue to the
Registered Holder of such Warrant a certificate or certificates representing
the number of full shares of Common Stock to which he, she or it is entitled,
registered in such name or names as may be directed by such Registered Holder,
and if such Warrant shall not have been exercised in full, a new countersigned
Warrant for the number of shares of Common Stock as to which such Warrant shall
not have been exercised.  Notwithstanding
the foregoing, the Company shall not be obligated to deliver any securities
pursuant to the exercise of a Warrant unless: (i) a registration statement
under the Act with respect to the Common Stock issuable upon exercise is
effective and a current prospectus is available for use by the holders thereof
or (ii) in the opinion of counsel to the Company, the exercise of the
Warrants is exempt from the registration requirements of the Act and such
securities are qualified for sale or exempt from qualification under applicable
securities laws of the states or other jurisdictions in which the Registered
Holders reside.  Warrants may not be
exercised by, or securities issued to, any Registered Holder in any state in which
such exercise or issuance would be unlawful. 
In no event will the Company be required to provide the Registered
Holder of a Warrant with a net-cash settlement or other consideration in lieu
of physical settlement in shares of Common Stock, regardless of whether the
Common Stock underlying the Warrants is registered pursuant to an
effective registration statement. 
Accordingly, the Warrants may expire unexercised and worthless if a
registration statement under the Act with respect to the Common Stock issuable
upon exercise is not effective and a current prospectus is not available for
use by the holders thereof at the time such Warrant is exercised.

 

3.3.3                        Valid Issuance.  All
shares of Common Stock issued upon the proper exercise of a Warrant in conformity
with this Agreement shall be validly issued, fully paid and non-assessable.

 

3.3.4                        Date of Issuance.  Each
person in whose name any such certificate for shares of Common Stock is issued
shall for all purposes be deemed to have become the holder of record of such
shares on the date on which the Warrant was surrendered and payment of the
Warrant Price was made, irrespective of the date of delivery of such
certificate, except that, if the date of such surrender and payment is a date
when the stock transfer books of the Company are closed, such person shall be
deemed to have become the holder of such shares at the close of business on the
next succeeding date on which the stock transfer books are open.

 

3.4                                 Cashless Exercise.

 

3.4.1                        Determination of Amount.  In
lieu of the payment of the Warrant Price, a Registered Holder shall have the
right (but not the obligation) to convert any exercisable but unexercised
Warrants into shares of Common Stock (the “Conversion Right”)
as follows:  upon exercise of the Conversion
Right, the Company shall deliver to the Registered Holder (without payment by
the Registered Holder of any of the Warrant Price in cash) that number of
shares of Common Stock equal to the quotient obtained by dividing (x) the
product of the number of shares of Common Stock underlying the Warrants,
multiplied by the difference between the Warrant Price and the Fair Market
Value (as defined below) by (y) the Fair Market Value.  As used herein, the term “Fair Market Value” per share of Common Stock at any date
shall mean the average reported last sale price of the Common Stock for the ten
(10) trading days ending on the third trading day prior to the date on
which the Warrant Agent receives notice of the Registered Holder’s exercise of
the Conversion Right in the principal trading market for the Common Stock as
reported by any national securities exchange or quoted on the NASD OTC Bulletin
Board (or its successor entity), as the case may be; provided that if the Fair
Market Value of the Common Stock cannot be so determined, the “Fair  Market Value”
per share shall be determined by the Board of Directors of the Company, in good
faith.

 

4

 

3.4.2                        Mechanics of Cashless Exercise.  The
Conversion Right may be exercised by a Registered Holder during the Exercise
Period by surrendering the Warrant with the duly executed exercise form
attached thereto with the cashless exercise section completed to the Warrant
Agent, exercising the Conversion Right and specifying the total number of
shares of Common Stock the Registered Holder will purchase pursuant to such
Conversion Right; provided that any holder that holds Warrants in a brokerage
account shall follow the procedures of such holder’s broker and the Depository
Trust Company in order to exercise the Conversion Right.

 

4.                                       Adjustments.

 

4.1                                 Stock Dividends - Split Ups.  If
after the date hereof, and subject to the provisions of Section 4.6 below,
the number of outstanding shares of Common Stock is increased by a stock dividend
payable in shares of Common Stock, or by a split-up of shares of Common Stock,
or other similar event, then, on the effective date of such stock dividend,
split-up or similar event, the number of shares of Common Stock issuable on
exercise of each Warrant shall be increased in proportion to such increase in
outstanding shares of Common Stock.

 

4.2                                 Extraordinary Dividend.  If
the Company, at any time during the Exercise Period, shall pay a dividend or
make a distribution in cash, securities or other assets to the holders of
Common Stock (or other shares of the Company’s capital stock into which the
Warrants are exerciseable), other than (a) as described in Sections 4.1,
4.3 or 4.5, (b) regular quarterly or other periodic dividends, (c) in
connection with the conversion rights of the holders of Common Stock upon
consummation of a Business Combination, or (d) in connection with the
Company’s liquidation and the distribution of its assets upon its failure to
consummate a Business Combination (any such non-excluded event being referred
to herein as an “Extraordinary Dividend”), then the
Warrant Price shall be decreased, effective immediately after the effective
date of such Extraordinary Dividend, by the amount of cash and/or the fair
market value (as determined by the Company’s Board of Directors, in good faith)
of any securities or other assets paid on each share of Common Stock in respect
of such Extraordinary Dividend.

 

4.3                                 Aggregation of Shares.  If
after the date hereof, and subject to the provisions of Section 4.7, the
number of outstanding shares of Common Stock is decreased by a consolidation,
combination, reverse stock split or reclassification of shares of Common Stock
or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number
of shares of Common Stock issuable on exercise of each Warrant shall be
decreased in proportion to such decrease in outstanding shares of Common Stock.

 

4.4                                 Adjustments in Exercise Price. Whenever the number of shares of Common
Stock purchasable upon the exercise of the Warrants is adjusted, as provided in
Section 4.1 and 4.3 above, the Warrant Price shall be adjusted (to the
nearest cent) by multiplying such Warrant Price immediately prior to such
adjustment by a fraction (x) the numerator of which shall be the number of
shares of Common Stock purchasable upon the exercise of the Warrants
immediately prior to such adjustment, and (y) the denominator of which
shall be the number of shares of Common Stock so purchasable immediately
thereafter.

 

4.5                                 Replacement of Securities upon
Reorganization, etc.  In case of any reclassification or
reorganization of the outstanding shares of Common Stock (other than a change
covered by Section 4.1 or 4.3 hereof or that solely affects the par value
of such shares of Common Stock), or in the case of any merger or consolidation
of the Company with or into another corporation (other than a consolidation or
merger in which the Company is the continuing corporation and that does not
result in any reclassification or reorganization of the outstanding shares of
Common Stock), or in the case of any sale or conveyance to another corporation
or entity of the assets or other property of the Company as an 

 

5

 

entirety or substantially as an entirety in connection with which the
Company is dissolved, the Warrant holders shall thereafter have the right to
purchase and receive, upon the basis and upon the terms and conditions
specified in the Warrants and in lieu of the shares of Common Stock of the
Company immediately theretofore purchasable and receivable upon the exercise of
the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any
such sale or transfer, that the Warrant holder would have received if such
Warrant holder had exercised his, her or its Warrant(s) immediately prior
to such event; and if any reclassification also results in a change in shares
of Common Stock covered by Section 4.1 or 4.2, then such adjustment shall
be made pursuant to Sections 4.1, 4.3, 4.4 and this Section 4.5.  The provisions of this Section 4.5 shall
similarly apply to successive reclassifications, reorganizations, mergers or
consolidations, sales or other transfers.

 

4.6                                 Notices of Changes in Warrant.  Upon
every adjustment of the Warrant Price or the number of shares issuable upon
exercise of a Warrant, the Company shall give written notice thereof to the
Warrant Agent, which notice shall state the Warrant Price resulting from such
adjustment and the increase or decrease, if any, in the number of shares
purchasable at such price upon the exercise of a Warrant, setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based.  Upon the
occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, then,
in any such event, the Company shall give written notice to each Warrant
holder, at the last address set forth for such holder in the Warrant Register,
of the record date or the effective date of the event.  Failure to give such notice, or any defect
therein, shall not affect the legality or validity of such event.

 

4.7                                 No Fractional Shares. 
Notwithstanding any provision contained in this Agreement to the
contrary, the Company shall not issue fractional shares upon exercise of
Warrants.  If, by reason of any adjustment
made pursuant to this Section 4, the holder of any Warrant would be
entitled, upon the exercise of such Warrant, to receive a fractional interest
in a share, the Company shall, upon such exercise, round up to the nearest
whole number the number of the shares of Common Stock to be issued to the
Warrant holder.

 

4.8                                 Form of Warrant.  The
form of Warrant need not be changed because of any adjustment pursuant to this Section 4,
and Warrants issued after such adjustment may state the same Warrant Price and
the same number of shares as is stated in the Warrants initially issued
pursuant to this Agreement.  However, the
Company may at any time in its sole discretion make any change in the form of
Warrant that the Company may deem appropriate and that does not affect the
substance thereof, and any Warrant thereafter issued or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in
the form as so changed.

 

4.9                                 Notice of Certain
Transactions.  In the event that the Company shall (a) offer
to holders of all its Common Stock rights to subscribe for or to purchase any
securities convertible into shares of Common Stock or shares of stock of any
class or any other securities, rights or options, (b) issue any rights,
options or warrants entitling all the holders of Common Stock to subscribe for
shares of Common Stock or (c) make a tender offer, redemption offer or
exchange offer with respect to the Common Stock, the Company shall send to the
Warrant holders a notice of such action or offer.  Such notice shall be mailed to the Registered
Holders at their addresses as they appear in the Warrant Register, which shall
specify the record date for the purposes of such dividend, distribution or rights,
or the date such issuance or event is to take place and the date of
participation therein by the holders of Common Stock, if any such date is to be
fixed, and shall briefly indicate the effect of such action on the Common Stock
and on the number and kind of any other shares of stock and on other property,
if any, and the number of shares of Common Stock and other property, if any,
issuable upon exercise of each Warrant and the Warrant Price after giving
effect to any adjustment pursuant to this Section 4 which would be 

 

6

 

required as a result of such action. 
Such notice shall be given as promptly as practicable after the Company
has taken any such action.

 

5.                                       Transfer and Exchange of Warrants.

 

5.1                                 Transfer of Public Warrants. 
Prior to the Detachment Date, the Public Warrants may be transferred or
exchanged only together with the Unit in which such Public Warrant is included,
and only for the purpose of effecting, or in conjunction with, a transfer or
exchange of such Unit.  Furthermore, each
transfer of a Unit on the register relating to such Units shall operate also to
transfer the Public Warrants included in such Unit.  From and after the Detachment Date this Section 5.1
will have no further force and effect.

 

5.2                                 Registration of Transfer.  The
Warrant Agent shall register the transfer, from time to time, of any
outstanding Warrant into the Warrant Register, upon surrender of such Warrant
for transfer, properly endorsed with signatures properly guaranteed and
accompanied by appropriate instructions for transfer.  Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old
Warrant shall be cancelled by the Warrant Agent.  The Warrants so cancelled shall be delivered
by the Warrant Agent to the Company from time to time upon request.

 

5.3                                 Procedure for Surrender of Warrants. 
Warrants may be surrendered to the Warrant Agent, together with a
written request for exchange or transfer, and thereupon the Warrant Agent shall
issue in exchange therefor one or more new Warrants as requested by the
Registered Holder of the Warrants so surrendered, representing an equal
aggregate number of Warrants; provided, however, in the event a Warrant
surrendered for transfer bears a restrictive legend, the Warrant Agent shall
not cancel such Warrant and issue new Warrants in exchange therefor until the
Warrant Agent has received an opinion of counsel for the Company stating such
transfer may be made and indicating whether the new Warrants must also bear a
restrictive legend.

 

5.4                                 Fractional Warrants.  The
Warrant Agent shall not be required to effect any registration of transfer or
exchange which will result in the issuance of a warrant certificate for a
fraction of a warrant.

 

5.5                                 Service Charges.  No
service charge shall be made for any exchange or registration of transfer of
Warrants.

 

5.6                                 Warrant Execution and Countersignature.  The
Warrant Agent is hereby authorized to countersign and deliver, in accordance
with the terms of this Agreement, the Warrants required to be issued pursuant
to the provisions of this Section 5, and the Company, whenever required by
the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on
behalf of the Company for such purpose.

 

5.7                                 Insider Warrants. 
Notwithstanding anything herein to the contrary, the Warrant Agent shall
not register for transfer any Insider Warrants until one day after the
consummation of a Business Combination, except for transfers (i) to
officers or directors of the Company, (ii) to employees of the Sponsor or
its affiliates (collectively with (i), “K Road personnel”),
(iii) to funds managed by the Sponsor or its affiliates, or (iv) by
any K Road personnel (a) by gift to a member of the immediate
family of such K Road personnel
or to a trust or other entity, the beneficiary of which is such K Road personnel or an immediate
family member of such K Road personnel,
(b) by virtue of the laws of descent and distribution upon the death of
any such K Road personnel, (c) pursuant
to a qualified domestic relations order, or (d) to any person or entity controlling, controlled by, or under common
control with, the Sponsor or any K Road personnel (each such person in clauses 

 

7

 

(i) – (iv), a “permitted transferee”),
in each case on condition that prior to such registration for transfer, the
Warrant Agent shall be presented with written documentation pursuant to which
each permitted transferee agrees to be bound by the terms of the Warrant
Subscription Agreement and the Sponsor’s Letter Agreement, except for the
indemnification provisions contained therein, filed as exhibit 10.4 to the
Registration Statement and the Escrow Agreement filed as exhibit 10.2 to the
Registration Statement.

 

6.                                       Redemption.

 

6.1                                 Redemption.  Subject to Section 6.4
hereof and the second sentence of this Section 6.1, all (and not less than
all) of the outstanding Public Warrants may be redeemed, at the option of the
Company, at any time after they become exercisable and prior to their expiration,
at the office of the Warrant Agent, upon the notice referred to in Section 6.2,
at the price of $.01 per Warrant (“Redemption Price”);
provided that the last sales price of the Common Stock has been equal to or
greater than $14.25 per share (subject to adjustment for splits, dividends,
recapitalizations and other similar events), on each of twenty (20) trading
days within any thirty (30) trading day period ending on the third business day
prior to the date on which notice of redemption is given.  Notwithstanding the foregoing, pursuant to Section 7.4
hereof, a registration statement under the Act with respect to the shares of
Common Stock issuable upon exercise must be effective and a current prospectus
must be available for use by the holders thereof in order for the Company to
exercise its redemption rights pursuant to this Section 6.  The Insider Warrants are not subject to
redemption pursuant to this Section 6 provided they are held by the
Sponsor or its permitted transferees. 
The provisions of this Section 6.1 may not be modified, amended or
deleted without the prior written consent of the Underwriter.

 

6.2                                 Date Fixed for, and Notice of, Redemption.  In
the event the Company shall elect to redeem all of the Warrants, the Company
shall fix a date for the redemption. 
Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than 30 days prior to the date fixed for
redemption to the Registered Holders of the Warrants to be redeemed at their
last addresses as they shall appear on the Warrant Register.  Any notice mailed in the manner herein
provided shall be conclusively presumed to have been duly given whether or not
the Registered Holder received such notice.

 

6.3                                 Exercise After Notice of Redemption.  The Warrants
may be exercised in accordance with Section 3 of this Agreement at any
time after notice of redemption shall have been given by the Company pursuant
to Section 6.2 hereof and prior to the time and date fixed for redemption;
provided, however, that the Company may elect to require that the Warrant Price
for any such Warrants exercised after notice of redemption be paid through a
Cashless Exercise pursuant to Section 3.4 hereof.  On and after the redemption date, the record
holder of the Warrants shall have no further rights except to receive, upon
surrender of the Warrants, the Redemption Price.

 

6.4                                 Outstanding Warrants Only.  The
Company understands the redemption rights provided for by this Section 6
apply only to outstanding Warrants.  To
the extent a person holds rights to purchase Warrants, such purchase rights
shall not be extinguished by redemption. 
However, once such purchase rights are exercised, the Company may redeem
the Warrants issued upon such exercise provided that the criteria for redemption
are met, including the opportunity of the Warrant holder to exercise prior to
redemption pursuant to Section 6.3. 
The provisions of this Section 6.4 may not be modified, amended or
deleted without the prior written consent of the Underwriter.

 

6.5                                 No Other Rights to Cash Payment. 
Except for a redemption in accordance with this Section 6, no
holder of any Warrant shall be entitled to any cash payment whatsoever from the
Company 

 

8

 

in connection with the ownership, exercise or surrender of any Warrant
under this Agreement, regardless of whether a registration statement under the
Act with respect to the shares of Common Stock issuable upon exercise is
effective and a current prospectus is available for use by the holders thereof.

 

6.6                                 Exclusion of Insider Warrants.  The
Company understands that the redemption rights provided for by this Section 6
do not apply to the Insider Warrants if on the date fixed for redemption such
Insider Warrants continue to be held by the Sponsor or its permitted
transferees.  However, once such Insider
Warrants are transferred other than to any permitted transferee, the Company
may redeem the Insider Warrants; provided that the criteria for redemption are
met, including, but not limited to, the opportunity of the Registered Holder to
exercise its Warrants prior to redemption pursuant to Section 6.3.

 

7.                                       Other Provisions Relating to Rights of
Holders of Warrants.

 

7.1                                 No Rights as Stockholder.  A
Warrant does not entitle the Registered Holder thereof to any of the rights of
a stockholder of the Company, including, without limitation, the right to
receive dividends, or other distributions, exercise any preemptive rights to
vote or to consent or to receive notice as stockholders in respect of the
meetings of stockholders or the election of directors of the Company or any
other matter.

 

7.2                                 Lost, Stolen, Mutilated, or Destroyed
Warrants.  If any Warrant is lost, stolen, mutilated, or
destroyed, the Company and the Warrant Agent may on such terms as to indemnity
or otherwise as they may in their discretion impose (which shall, in the case
of a mutilated Warrant, include the surrender thereof), issue a new Warrant of
like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed.  Any such new Warrant shall
constitute a substitute contractual obligation of the Company, whether or not
the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any
time enforceable by anyone.

 

7.3                                 Reservation of Common Stock.  The
Company shall at all times reserve and keep available a number of its
authorized but unissued shares of Common Stock sufficient to permit the
exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4                                 Registration of Common Stock.  The
Company agrees that prior to the commencement of the Exercise Period, it shall
file with the SEC a new registration statement, for the registration, under the
Act, of the Common Stock issuable upon exercise of the Warrants, and it shall
take such action as is reasonably necessary to qualify for sale, in those
states in which the Warrants were initially offered by the Company, the Common
Stock issuable upon exercise of the Warrants. 
In either case, the Company will use its best efforts to cause the same
to become effective on or prior to the commencement of the Exercise Period and
to use its best efforts to maintain the effectiveness of such registration
statement until the expiration of the Warrants in accordance with the
provisions of Agreement; provided, however, that the Company shall not be
obligated to deliver Common Stock and shall not have penalties for failure to
deliver Common Stock if a registration statement is not effective or a current
prospectus is not on file with the SEC at the time of exercise by the
holder.  In addition, the Company agrees
to use its reasonable efforts to register such securities under the blue sky
laws of the states of residence of the exercising warrant holders to the extent
an exemption under the Act is not available for the exercise of the
Warrants.  In no event will the
Registered Holder of a Warrant be entitled to receive a net-cash settlement or
shares of Common Stock or other consideration as of result of the Company’s
non-compliance with this Section 7.4. 
The provisions of this Section 7.4 may not be modified, amended or
deleted without the prior written consent of the Underwriter.

 

9

 

8.                                       Concerning the Warrant Agent and Other
Matters.

 

8.1                                 Payment of Taxes.  The
Company will from time to time promptly pay all taxes and charges that may be
imposed upon the Company or the Warrant Agent in respect of the issuance or
delivery of shares of Common Stock upon the exercise of Warrants, but the
Company shall not be obligated to pay any transfer taxes in respect of the
Warrants or such shares.

 

8.2                                 Resignation, Consolidation, or Merger of
Warrant Agent.

 

8.2.1                        Appointment of Successor Warrant Agent.  The
Warrant Agent, or any successor to it hereafter appointed, may resign its
duties and be discharged from all further duties and liabilities hereunder
after giving sixty (60) days’ notice in writing to the Company.  If the office of the Warrant Agent becomes
vacant by resignation or incapacity to act or otherwise, the Company shall
appoint in writing a successor Warrant Agent in place of the Warrant
Agent.  If the Company shall fail to make
such appointment within a period of 30 days after it has been notified in
writing of such resignation or incapacity by the Warrant Agent or by the holder
of the Warrant (who shall, with such notice, submit his Warrant for inspection
by the Company), then the holder of any Warrant may apply to the Supreme Court
of the State of New York for the County of New York for the appointment of a
successor Warrant Agent.  Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a
corporation organized and existing under the laws of the State of New York, in
good standing and having its principal office in the Borough of Manhattan, City
and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state
authority.  After appointment, any successor
Warrant Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Warrant Agent with like
effect as if originally named as Warrant Agent hereunder, without any further
act or deed; but if for any reason it becomes necessary or appropriate, the
predecessor Warrant Agent shall execute and deliver, at the expense of the
Company, an instrument transferring to such successor Warrant Agent all the
authority, powers, and rights of such predecessor Warrant Agent hereunder; and
upon request of any successor Warrant Agent the Company shall make, execute,
acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such
authority, powers, rights, immunities, duties, and obligations.

 

8.2.2                        Notice of Successor Warrant Agent.  In
the event a successor Warrant Agent shall be appointed, the Company shall give
notice thereof to the predecessor Warrant Agent and the transfer agent for the
Common Stock not later than the effective date of any such appointment.

 

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

 

8.3                                 Fees and Expenses of Warrant Agent.

 

8.3.1                        Remuneration.  The
Company agrees to pay the Warrant Agent reasonable remuneration for its
services as such Warrant Agent hereunder as set forth on Exhibit C
hereto, and will reimburse the Warrant Agent upon demand for all expenditures
that the Warrant Agent may reasonably incur in the execution of its duties
hereunder.

 

8.3.2                        Further Assurances.  The
Company agrees to perform, execute, acknowledge, and deliver or cause to be
performed, executed, acknowledged, and delivered all such further and other 

 

10

 

acts, instruments, and assurances
as may reasonably be required by the Warrant Agent for the carrying out or
performing of the provisions of this Agreement.

 

8.4                                 Liability of Warrant Agent.

 

8.4.1                        Reliance on Company Statement. 
Whenever in the performance of its duties under this Agreement, the
Warrant Agent shall deem it necessary or desirable that any fact or matter be
proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be
herein specifically prescribed) may be deemed to be conclusively proved and
established by a statement signed by the Chief Executive Officer, Chairman of
the Board, President or Chief Operating Officer of the Company and delivered to
the Warrant Agent.  The Warrant Agent may
rely upon such statement for any action taken or suffered in good faith by it
pursuant to the provisions of this Agreement.

 

8.4.2                        Indemnity.  The Warrant Agent shall be
liable hereunder only for its own negligence, willful misconduct or bad faith.  The Company agrees to indemnify the Warrant
Agent and save it harmless against any and all liabilities, including
judgments, costs and reasonable counsel fees, for anything done or omitted by
the Warrant Agent in the execution of this Agreement except as a result of the
Warrant Agent’s negligence, willful misconduct, or bad faith.

 

8.4.3                        Exclusions.  The Warrant Agent shall have
no responsibility with respect to the validity of this Agreement or with
respect to the validity or execution of any Warrant (except its
countersignature thereof); nor shall it be responsible for any breach by the
Company of any covenant or condition contained in this Agreement or in any
Warrant; nor shall it be responsible to make any adjustments required under the
provisions of Section 4 hereof or responsible for the manner, method, or
amount of any such adjustment or the ascertaining of the existence of facts
that would require any such adjustment; nor shall it by any act hereunder be
deemed to make any representation or warranty as to the authorization or
reservation of any shares of Common Stock to be issued pursuant to this
Agreement or any Warrant or as to whether any shares of Common Stock will when
issued be valid and fully paid and non-assessable.

 

8.5                                 Acceptance of Agency.  The
Warrant Agent hereby accepts the agency established by this Agreement and
agrees to perform the same upon the terms and conditions herein set forth and
among other things, shall account promptly to the Company with respect to
Warrants exercised and concurrently account for, and pay to the Company, all
moneys received by the Warrant Agent for the purchase of shares of the Company’s
Common Stock through the exercise of Warrants.

 

8.6                                 Waiver.  The Warrant 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 hereon, by and between the Company and the Warrant 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.

 

9.                                       Miscellaneous Provisions.

 

9.1                                 Successors.  All the covenants and
provisions of this Agreement by or for the benefit of the Company or the
Warrant Agent shall bind and inure to the benefit of their respective
successors and assigns.

 

9.2                                 Notices.  Any notice or other
communication required or which may be given hereunder shall be in writing and
either be delivered personally or by private national courier service, or be
mailed, 

 

11

 

certified or registered mail, return receipt requested, postage
prepaid, and shall be deemed given when so delivered personally or, if sent by
private national courier service, on the next business day after delivery to
the courier, or, if mailed, two business days after the date of mailing, as
follows:

 

	
   

  	
  K
  Road Acquisition Corporation

  	
   

  
	
   

  	
  330
  Madison Avenue, 25th Floor

  	
   

  
	
   

  	
  New
  York, NY 10017

  	
   

  
	
   

  	
  Attn:
  William V. Kriegel, Chairman,

  	
   

  
	
   

  	
  Chief
  Executive Officer and President

  	
   

  
	
   

  	
  Facsimile:
  (212) 351-0530

  	
   

  

 

Any notice, statement or demand authorized by this
Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently given when so delivered if by
hand or overnight delivery or if sent by certified mail or private courier
service five days after deposit of such notice, postage prepaid, addressed
(until another address is filed in writing by the Warrant Agent with the
Company), as follows:

 

	
   

  	
  Continental
  Stock Transfer & Trust Company

  	
   

  
	
   

  	
  17
  Battery Place

  	
   

  
	
   

  	
  New
  York, New York 10004

  	
   

  
	
   

  	
  Attn:
   Compliance Department

  	
   

  
	
   

  	
  Fax:
   (212) 509-5150

  	
   

  
	
   

  	
   

  	
   

  
	
  with a copy in each case
  to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Ellenoff
  Grossman & Schole LLP

  	
   

  
	
   

  	
  150
  East 42nd Street

  	
   

  
	
   

  	
  New
  York, New York 10017

  	
   

  
	
   

  	
  Attn:  Douglas S. Ellenoff, Esq.

  	
   

  
	
   

  	
  Fax:  (212) 370-7889

  	
   

  
	
   

  	
   

  	
   

  
	
  and

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Skadden, Arps, Slate,
  Meagher & Flom LLP

  	
   

  
	
   

  	
  300 South Grand Avenue,
  Suite 3400

  	
   

  
	
   

  	
  Los Angeles, California
  90071

  	
   

  
	
   

  	
  Attn:  Gregg A. Noel, Esq.

  	
   

  
	
   

  	
  Fax:  (213) 687-5600

  	
   

  
	
   

  	
   

  	
   

  
	
  and

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Credit Suisse Securities (USA) LLC

  	
   

  
	
   

  	
  Eleven
  Madison Avenue

  	
   

  
	
   

  	
  New
  York, New York 10010-3629

  	
   

  
	
   

  	
  Attn:
   LCD-IBD

  	
   

  

 

9.3                                 Applicable Law.  The
validity, interpretation, and performance of this Agreement and of the Warrants
shall be governed in all respects by the laws of the State of New York, without
giving effect to conflict of laws.  The
Company and the Warrant Agent hereby agree that any action, proceeding or claim
against either of them 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 

 

12

 

District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive. 
The Company and the Warrant Agent hereby waive any objection to such
exclusive jurisdiction and that such courts represent an inconvenient
forum.  Any such process or summons to be
served upon the Company or the Warrant Agent may be served by transmitting a
copy thereof by registered or certified mail, return receipt requested, postage
prepaid, addressed to it at the address set forth in Section 9.2
hereof.  Such mailing shall be deemed
personal service and shall be legal and binding upon the party receiving such
service in any action, proceeding or claim.

 

9.4                                 Persons Having Rights under this Agreement. 
Nothing in this Agreement expressed and nothing that may be implied from
any of the provisions hereof is intended, or shall be construed, to confer
upon, or give to, any person or corporation other than the parties hereto and
the Registered Holders of the Warrants and, for the purposes of Sections 2.4,
6.1, 6.4, 7.4, 9.2 and 9.8 hereof, the Underwriter, any right, remedy, or claim
under or by reason of this Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof. 
The Underwriter shall be deemed to be a third-party beneficiary of this
Agreement with respect to Sections 2.4, 6.1, 6.4, 7.4, 9.2 and 9.8 hereof.  All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and
exclusive benefit of the parties hereto (and the Underwriter, with respect to
Sections 2.4, 6.1, 6.4, 7.4, 9.2 and 9.8 hereof) and their successors and
assigns and of the Registered Holders of the Warrants.

 

9.5                                 Examination of the Agreement.  A
copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York,
for inspection by the Registered Holder of any Warrant.  The Warrant Agent may require any such holder
to submit his Warrant for inspection by it.

 

9.6                                 Counterparts. This Agreement may be executed in any
number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and all such counterparts shall together constitute
but one and the same instrument. 
Facsimile signatures shall constitute original signatures for all
purposes of this Agreement.

 

9.7                                 Effect of Headings.   The
Section headings herein are for convenience only and are not part of this
Agreement and shall not affect the interpretation thereof.

 

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

 

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

 

[remainder of document
continued on next page]

 

13

 

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

 

 

	
  Attest:

  	
   

  	
   

  	
  K ROAD ACQUISITION
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: William V. Kriegel

  
	
   

  	
   

  	
   

  	
  Title: Chairman, Chief
  Executive Officer

  
	
   

  	
   

  	
   

  	
  and President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  	
  CONTINENTAL STOCK
  TRANSFER & TRUST 

  
	
   

  	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  

 

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]