Document:

THE
      REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES
      THAT
      IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN
      PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL
      NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR
      A
      PERIOD OF ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER
      THAN (I) EARLYBIRDCAPITAL, INC. (“EBC”)
      OR AN
      UNDERWRITER OR SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA
      FIDE OFFICER OR PARTNER OF EBC OR OF ANY SUCH UNDERWRITER OR SELECTED
      DEALER.

     

    THIS
      PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO SIX MONTHS AFTER THE CONSUMMATION
      BY
      SPRING CREEK ACQUISITION CORP. (“COMPANY”)
      OF A
      MERGER, CAPITAL STOCK EXCHANGE, ASSET ACQUISITION OR OTHER SIMILAR BUSINESS
      COMBINATION (“BUSINESS
      COMBINATION”)(AS
      DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN)).
      VOID AFTER 5:00 P.M. NEW YORK CITY LOCAL TIME, _________, 2013.

     

    UNIT
      PURCHASE OPTION

     

    FOR
      THE
      PURCHASE OF

     

    __________
      UNITS

     

    OF

     

    SPRING
      CREEK ACQUISITION CORP.

     

    
      	1.	
            	
              Purchase
                Option.

            

    

     

    THIS
      CERTIFIES THAT, in consideration of $_____ duly paid by or on behalf of
      ___________ (“Holder”),
      as
      registered owner of this Purchase Option, to Spring Creek Acquisition Corp.
      (“Company”),
      Holder is entitled, at any time or from time to time upon six months after
      the
      consummation of a Business Combination (“Commencement
      Date”),
      and
      at or before 5:00 p.m., New York City local time, _________, 2013 (“Expiration
      Date”),
      but
      not thereafter, to subscribe for, purchase and receive, in whole or in part,
      up
      to ________ (_______) units (“Units”)
      of the
      Company, each Unit consisting of one ordinary share of the Company, par value
      $0.0001 per share (“Ordinary
      Share”),
      and
      one warrant (“Warrant(s)”)
      expiring five years from the effective date (“Effective
      Date”)
      of the
      registration statement (“Registration
      Statement”)
      pursuant to which Units are offered for sale to the public (“Offering”).
      Each
      Warrant is the same as the warrants included in the Units being registered
      for
      sale to the public by way of the Registration Statement (“Public
      Warrants”).
      If
      the Expiration Date is a day on which banking institutions are authorized by
      law
      to close, then this Purchase Option may be exercised on the next succeeding
      day
      which is not such a day in accordance with the terms herein. During the period
      ending on the Expiration Date, the Company agrees not to take any action that
      would terminate the Purchase Option. This Purchase Option is initially
      exercisable at $___ per Unit so purchased; provided, however, that upon the
      occurrence of any of the events specified in Section 6 hereof, the rights
      granted by this Purchase Option, including the exercise price per Unit and
      the
      number of Units (and Ordinary Shares and Warrants) to be received upon such
      exercise, shall be adjusted as therein specified. The term “Exercise Price”
shall mean the initial exercise price or the adjusted exercise price, depending
      on the context.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	2.	
            	Exercise.

    

     

    2.1 Exercise
      Form.
      In
      order to exercise this Purchase Option, the exercise form attached hereto must
      be duly executed and completed and delivered to the Company, together with
      this
      Purchase Option and payment of the Exercise Price for the Units being purchased
      payable in cash or by certified check or official bank check. If the
      subscription rights represented hereby shall not be exercised at or before
      5:00
      p.m., New York City local time, on the Expiration Date this Purchase Option
      shall become and be void without further force or effect, and all rights
      represented hereby shall cease and expire.

     

    2.2 Legend.
      Each
      certificate for the securities purchased under this Purchase Option shall bear
      a
      legend as follows unless such securities have been registered under the
      Securities Act of 1933, as amended (“Act”):

     

    “The
      securities represented by this certificate have not been registered under the
      Securities Act of 1933, as amended (“Act”) or applicable state law. The
      securities may not be offered for sale, sold or otherwise transferred except
      pursuant to an effective registration statement under the Act, or pursuant
      to an
      exemption from registration under the Act and applicable state
      law.”

     

    2.3 Cashless
      Exercise.

     

    2.3.1 Determination
      of Amount.
      In
      lieu
      of the payment of the Exercise Price multiplied by the number of Units for
      which
      this Purchase Option is exercisable (and in lieu of being entitled to receive
      Ordinary Shares and Warrants) in the manner required by Section 2.1, the Holder
      shall have the right (but not the obligation) to convert any exercisable but
      unexercised portion of this Purchase Option into Units (“Cashless
      Exercise Right”)
      as
      follows: upon exercise of the Cashless Exercise Right, the Company shall deliver
      to the Holder (without payment by the Holder of any of the Exercise Price in
      cash) that number of Units (or that number of Ordinary Shares and Warrants
      comprising that number of Units) equal to the quotient obtained by dividing
      (x)
      the “Value” (as defined below) of the portion of the Purchase Option being
      converted by (y) the Current Market Value (as defined below). The “Value” of the
      portion of the Purchase Option being converted shall equal the remainder derived
      from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of
      Units underlying the portion of this Purchase Option being converted from (b)
      the Current Market Value of a Unit multiplied by the number of Units underlying
      the portion of the Purchase Option being converted. As used herein, the term
      “Current Market Value” per Unit at any date means: (A) in the event that neither
      the Units nor Public Warrants are still trading, the remainder derived from
      subtracting (x) the exercise price of the Warrants multiplied by the number
      of
      Ordinary Shares issuable upon exercise of the Warrants underlying one Unit
      from
      (y) (i) the Current Market Price of the Ordinary Share multiplied by (ii) the
      number of Ordinary Shares underlying one Unit, which shall include the Ordinary
      Shares underlying the Warrants included in such Unit; (B) in the event that
      the
      Units, Ordinary Shares and Public Warrants are still trading, (i) if the Units
      are listed on a national securities exchange or quoted on the Nasdaq National
      Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor
      exchange), the last sale price of the Units in the principal trading market
      for
      the Units as reported by the exchange, Nasdaq or the Financial Industry
      Regulatory Authority (“FINRA”),
      as
      the case may be, on the last trading day preceding the date in question; or
      (ii)
      if the Units are not listed on a national securities exchange or quoted on
      the
      Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board
      (or successor exchange), but is traded in the residual over-the-counter market,
      the closing bid price for Units on the last trading day preceding the date
      in
      question for which such quotations are reported by the Pink Sheets, LLC or
      similar publisher of such quotations; and (C) in the event that the Units are
      not still trading but the Ordinary Share and Public Warrants underlying the
      Units are still trading, the Current Market Price of the Ordinary Share plus
      the
      product of (x) the Current Market Price of the Public Warrants and (y) the
      number of Ordinary Shares underlying the Warrants included in one Unit. The
      “Current Market Price” shall mean (i) if the Ordinary Shares (or Public
      Warrants, as the case may be) is listed on a national securities exchange or
      quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC
      Bulletin Board (or successor exchange), the last sale price of the Ordinary
      Shares (or Public Warrants) in the principal trading market for the Ordinary
      Share as reported by the exchange, Nasdaq or FINRA, as the case may be, on
      the
      last trading day preceding the date in question; (ii) if the Ordinary Shares
      (or
      Public Warrants, as the case may be) is not listed on a national securities
      exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or
      the
      NASD OTC Bulletin Board (or successor exchange), but is traded in the residual
      over-the-counter market, the closing bid price for the Ordinary Share (or Public
      Warrants) on the last trading day preceding the date in question for which
      such
      quotations are reported by the Pink Sheets, LLC or similar publisher of such
      quotations; and (iii) if the fair market value of the Ordinary Share cannot
      be
      determined pursuant to clause (i) or (ii) above, such price as the Board of
      Directors of the Company shall determine, in good faith. In the event the Public
      Warrants have expired and are no longer exercisable, no “Value” shall be
      attributed to the Warrants underlying this Purchase Option. Additionally, in
      the
      event that this Purchase Option is exercised pursuant to this Section 2.3 and
      the Public Warrants are still trading, the “Value” shall be reduced by the
      difference between the Warrant Exercise Price and the exercise price of the
      Public Warrants multiplied by the number of Warrants underlying the Units
      included in the portion of this Purchase Option being converted.

     

    
      
         

      

      
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    2.3.1 Mechanics
      of Cashless Exercise.
      The
      Cashless Exercise Right may be exercised by the Holder on any business day
      on or
      after the Commencement Date and not later than the Expiration Date by delivering
      the Purchase Option with the duly executed exercise form attached hereto with
      the cashless exercise section completed to the Company, exercising the Cashless
      Exercise Right and specifying the total number of Units the Holder will purchase
      pursuant to such Cashless Exercise Right.

     

    2.4
       No
      Obligation to Net Cash Settle.
      Notwithstanding anything to the contrary contained in this Purchase Option,
      in
      no event will the Company be required to net cash settle the exercise of the
      Purchase Option or the Warrants underlying the Purchase Option. The holder
      of
      the Purchase Option and the Warrants underlying the Purchase Option will not
      be
      entitled to exercise the Purchase Option or the Warrants underlying such
      Purchase Option unless a registration statement is effective, or an exemption
      from the registration requirements is available at such time and, if the holder
      is not able to exercise the Purchase Option or underlying Warrants, the Purchase
      Option and/or the underlying Warrants, as applicable, will expire
      worthless.

     

    
      
         

      

      
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        	3.	
              	
                Transfer.

              

      

       

    

    3.1 General
      Restrictions.
      The
      registered Holder of this Purchase Option, by its acceptance hereof, agrees
      that
      it will not sell, transfer, assign, pledge or hypothecate this Purchase Option
      (or the Common Stock and Warrants underlying this Purchase Option) for a period
      of one year (including a period of 180 days pursuant to Rule 2710(g)(1) of
      the
      Conduct Rules of FINRA) following the Effective Date to anyone other than
      (i) EBC or an underwriter or selected dealer in connection with the
      Offering, or (ii) a bona fide officer or partner of EBC or of any such
      underwriter or selected dealer. On and after the first anniversary of the
      Effective Date, transfers to others may be made subject to compliance with
      or
      exemptions from applicable securities laws. In order to make any permitted
      assignment, the Holder must deliver to the Company the assignment form attached
      hereto duly executed and completed, together with the Purchase Option and
      payment of all transfer taxes, if any, payable in connection therewith. The
      Company shall within five business days transfer this Purchase Option on the
      books of the Company and shall execute and deliver a new Purchase Option or
      Purchase Options of like tenor to the appropriate assignee(s) expressly
      evidencing the right to purchase the aggregate number of Units purchasable
      hereunder or such portion of such number as shall be contemplated by any such
      assignment.

     

    3.2 Restrictions
      Imposed by the Act.
      The
      securities evidenced by this Purchase Option shall not be transferred unless
      and
      until (i) the Company has received the opinion of counsel for the Holder
      that the securities may be transferred pursuant to an exemption from
      registration under the Act and applicable state securities laws, the
      availability of which is established to the reasonable satisfaction of the
      Company (the Company hereby agreeing that the opinion of Graubard Miller shall
      be deemed satisfactory evidence of the availability of an exemption), or
      (ii) a registration statement or a post-effective amendment to the
      Registration Statement relating to such securities has been filed by the Company
      and declared effective by the Securities and Exchange Commission (the
“Commission”)
      and
      compliance with applicable state securities law has been
      established.

     

    
      
        	4.	
              	New Purchase Options to
                be
                Issued.

      

       

    

    4.1 Partial
      Exercise or Transfer.
      Subject
      to the restrictions in Section 3 hereof, this Purchase Option may be exercised
      or assigned in whole or in part. In the event of the exercise or assignment
      hereof in part only, upon surrender of this Purchase Option for cancellation,
      together with the duly executed exercise or assignment form and funds sufficient
      to pay any Exercise Price and/or transfer tax, the Company shall cause to be
      delivered to the Holder without charge a new Purchase Option of like tenor
      to
      this Purchase Option in the name of the Holder evidencing the right of the
      Holder to purchase the number of Units purchasable hereunder as to which this
      Purchase Option has not been exercised or assigned.

     

    4.2 Lost
      Certificate.
      Upon
      receipt by the Company of evidence satisfactory to it of the loss, theft,
      destruction or mutilation of this Purchase Option and of reasonably satisfactory
      indemnification or the posting of a bond, the Company shall execute and deliver
      a new Purchase Option of like tenor and date. Any such new Purchase Option
      executed and delivered as a result of such loss, theft, mutilation or
      destruction shall constitute a substitute contractual obligation on the part
      of
      the Company.

     

    
      
         

      

      
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        	5.	
              	Registration Rights.

      

       

    

    5.1 Demand
      Registration.

     

    5.1.1 Grant
      of Right.
      The
      Company, upon written demand (“Initial
      Demand Notice”)
      of the
      Holder(s) of at least 51% of the Purchase Options and/or the underlying Units
      and/or the underlying securities (“Majority
      Holders”),
      agrees to use its best efforts to register (the “Demand
      Registration”)
      under
      the Act on one occasion, all or any portion of the Purchase Options requested
      by
      the Majority Holders in the Initial Demand Notice and all of the securities
      underlying such Purchase Options, including the Units, Ordinary Share, the
      Warrants and the Ordinary Share underlying the Warrants (collectively, the
      “Registrable
      Securities”).
      On
      such occasion, the Company will use its best efforts to file a registration
      statement or a post-effective amendment to the Registration Statement covering
      the Registrable Securities within sixty days after receipt of the Initial Demand
      Notice and use its best efforts to have such registration statement or
      post-effective amendment declared effective as soon as possible thereafter.
      The
      demand for registration may be made at any time during a period of five years
      beginning on the Effective Date. The Initial Demand Notice shall specify the
      number of shares of Registrable Securities proposed to be sold and the intended
      method(s) of distribution thereof. The Company will notify all holders of the
      Purchase Options and/or Registrable Securities of the demand within ten days
      from the date of the receipt of any such Initial Demand Notice. Each holder
      of
      Registrable Securities who wishes to include all or a portion of such holder’s
      Registrable Securities in the Demand Registration (each such holder including
      shares of Registrable Securities in such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to Section 5.1.4.

     

    5.1.2 Effective
      Registration.
      A
      registration will not count as a Demand Registration until the registration
      statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto.

     

    5.1.3 Underwritten
      Offering.
      If the
      Majority Holders so elect and such holders so advise the Company as part of
      the
      Initial Demand Notice, the offering of such Registrable Securities pursuant
      to
      such Demand Registration shall be in the form of an underwritten offering.
      In
      such event, the right of any holder to include its Registrable Securities in
      such registration shall be conditioned upon such holder’s participation in such
      underwriting and the inclusion of such holder’s Registrable Securities in the
      underwriting to the extent provided herein. All Demanding Holders proposing
      to
      distribute their securities through such underwriting shall enter into an
      underwriting agreement in customary form with the underwriter or underwriters
      selected for such underwriting by the Majority Holders.

     

    
      
         

      

      
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    5.1.4 Reduction
      of Offering.
      If the
      managing underwriter or underwriters for a Demand Registration that is to be
      an
      underwritten offering advises the Company and the Demanding Holders in writing
      that the dollar amount or number of shares of Registrable Securities which
      the
      Demanding Holders desire to sell, taken together with all other Ordinary Shares
      or other securities which the Company desires to sell and the Ordinary Shares,
      if any, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights held by other stockholders of the
      Company who desire to sell, exceeds the maximum dollar amount or maximum number
      of shares that can be sold in such offering without adversely affecting the
      proposed offering price, the timing, the distribution method, or the probability
      of success of such offering (such maximum dollar amount or maximum number of
      shares, as applicable, the “Maximum
      Number of Shares”),
      then
      the Company shall include in such registration: (i) first, the Registrable
      Securities as to which Demand Registration has been requested by the Demanding
      Holders (pro rata in accordance with the number of shares that each such Person
      has requested be included in such registration, regardless of the number of
      shares held by each such Person (such proportion is referred to herein as
“Pro
      Rata”))
      that
      can be sold without exceeding the Maximum Number of Shares; (ii) second, to
      the extent that the Maximum Number of Shares has not been reached under the
      foregoing clause (i), the Ordinary Shares or other securities that the Company
      desires to sell that can be sold without exceeding the Maximum Number of Shares;
      (iii) third, to the extent that the Maximum Number of Shares has not been
      reached under the foregoing clauses (i) and (ii), the Ordinary Shares or
      other securities registrable pursuant to the terms of the Registration Rights
      Agreement between the Company and the initial investors in the Company, dated
      as
      of ________, 2008 (the “Registration
      Rights Agreement”
and
      such registrable securities, the “Investor
      Securities”)
      as to
      which “piggy-back” registration has been requested by the holders thereof, Pro
      Rata, that can be sold without exceeding the Maximum Number of Shares; and
      (iv) fourth, to the extent that the Maximum Number of Shares have not been
      reached under the foregoing clauses (i), (ii), and (iii), the Ordinary
      Shares or other securities for the account of other persons that the Company
      is
      obligated to register pursuant to written contractual arrangements with such
      persons and that can be sold without exceeding the Maximum Number of
      Shares.

     

    5.1.5 Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      underwriter or underwriters of their request to withdraw prior to the
      effectiveness of the registration statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then the Company does not have to continue its obligations under
      Section 5.1 with respect to such proposed offering.

     

    5.1.6 Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the expenses of any legal counsel selected
      by
      the Holders to represent them in connection with the sale of the Registrable
      Securities, but the Holders shall pay any and all underwriting commissions.
      The
      Company agrees to use its reasonable best efforts to qualify or register the
      Registrable Securities in such states as are reasonably requested by the
      Majority Holder(s); provided, however, that in no event shall the Company be
      required to register the Registrable Securities in a state in which such
      registration would cause (i) the Company to be obligated to qualify to do
      business in such state, or would subject the Company to taxation as a foreign
      corporation doing business in such jurisdiction or (ii) the principal
      stockholders of the Company to be obligated to escrow their shares of capital
      stock of the Company. The Company shall use its best efforts to cause any
      registration statement or post-effective amendment filed pursuant to the demand
      rights granted under Section 5.1.1 to remain effective for a period of nine
      consecutive months from the effective date of such registration statement or
      post-effective amendment.

     

    
      
         

      

      
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    5.2 Piggy-Back
      Registration.

     

    5.2.1 Piggy-Back
      Rights.
      If at
      any time during the seven year period commencing on the Effective Date the
      Company proposes to file a registration statement under the Act with respect
      to
      an offering of equity securities, or securities or other obligations exercisable
      or exchangeable for, or convertible into, equity securities, by the Company
      for
      its own account or for stockholders of the Company for their account (or by
      the
      Company and by stockholders of the Company including, without limitation,
      pursuant to Section 5.1), other than a registration statement (i) filed in
      connection with any employee stock option or other benefit plan, (ii) for
      an exchange offer or offering of securities solely to the Company’s existing
      stockholders, (iii) for an offering of debt that is convertible into equity
      securities of the Company or (iv) for a dividend reinvestment plan, then
      the Company shall (x) give written notice of such proposed filing to the holders
      of Registrable Securities as soon as practicable but in no event less than
      ten
      (10) days before the anticipated filing date, which notice shall describe the
      amount and type of securities to be included in such offering, the intended
      method(s) of distribution, and the name of the proposed managing underwriter
      or
      underwriters, if any, of the offering, and (y) offer to the holders of
      Registrable Securities in such notice the opportunity to register the sale
      of
      such number of shares of Registrable Securities as such holders may request
      in
      writing within five (5) days following receipt of such notice (a “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and shall use its best efforts to cause the managing underwriter
      or
      underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration on the same
      terms and conditions as any similar securities of the Company and to permit
      the
      sale or other disposition of such Registrable Securities in accordance with
      the
      intended method(s) of distribution thereof. All holders of Registrable
      Securities proposing to distribute their securities through a Piggy-Back
      Registration that involves an underwriter or underwriters shall enter into
      an
      underwriting agreement in customary form with the underwriter or underwriters
      selected for such Piggy-Back Registration.

     

    5.2.2 Reduction
      of Offering.
      If the
      managing underwriter or underwriters for a Piggy-Back Registration that is
      to be
      an underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of Ordinary Shares which
      the Company desires to sell, taken together with Ordinary Shares, if any, as
      to
      which registration has been demanded pursuant to written contractual
      arrangements with persons other than the holders of Registrable Securities
      hereunder, the Registrable Securities as to which registration has been
      requested under this Section 5.2, and the Ordinary Shares, if any, as to which
      registration has been requested pursuant to the written contractual piggy-back
      registration rights of other stockholders of the Company, exceeds the Maximum
      Number of Shares, then the Company shall include in any such
      registration:

     

    
      
         

      

      
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    (a) If
      the
      registration is undertaken for the Company’s account: (A) first, the
      Ordinary Shares or other securities that the Company desires to sell that can
      be
      sold without exceeding the Maximum Number of Shares; (B) second, to the
      extent that the Maximum Number of Shares has not been reached under the
      foregoing clause (A), the Ordinary Shares or other securities, if any,
      comprised of Registrable Securities and Investor Securities, as to which
      registration has been requested pursuant to the applicable written contractual
      piggy-back registration rights of such security holders, Pro Rata, that can
      be
      sold without exceeding the Maximum Number of Shares; and (C) third, to the
      extent that the Maximum Number of shares has not been reached under the
      foregoing clauses (A) and (B), the Ordinary Shares or other securities for
      the account of other persons that the Company is obligated to register pursuant
      to written contractual piggy-back registration rights with such persons and
      that
      can be sold without exceeding the Maximum Number of Shares; 

     

    (b) If
      the
      registration is a “demand” registration undertaken at the demand of holders of
      Investor Securities, (A) first, the Ordinary Shares or other securities for
      the account of the demanding persons, Pro Rata, that can be sold without
      exceeding the Maximum Number of Shares; (B) second, to the extent that the
      Maximum Number of Shares has not been reached under the foregoing
      clause (A), the Ordinary Shares or other securities that the Company
      desires to sell that can be sold without exceeding the Maximum Number of Shares;
      (C) third, to the extent that the Maximum Number of Shares has not been
      reached under the foregoing clauses (A) and (B), the shares of Registrable
      Securities, Pro Rata, as to which registration has been requested pursuant
      to
      the terms hereof, that can be sold without exceeding the Maximum Number of
      Shares; and (D) fourth, to the extent that the Maximum Number of Shares has
      not been reached under the foregoing clauses (A), (B) and (C), the Ordinary
      Shares or other securities for the account of other persons that the Company
      is
      obligated to register pursuant to written contractual arrangements with such
      persons, that can be sold without exceeding the Maximum Number of Shares;
      and

     

    (c) If
      the
      registration is a “demand” registration undertaken at the demand of persons
      other than either the holders of Registrable Securities or of Investor
      Securities, (A) first, the Ordinary Shares or other securities for the account
      of the demanding persons that can be sold without exceeding the Maximum Number
      of Shares; (B) second, to the extent that the Maximum Number of Shares has
      not
      been reached under the foregoing clause (A), the Ordinary Shares or other
      securities that the Company desires to sell that can be sold without exceeding
      the Maximum Number of Shares; (C) third, to the extent that the Maximum Number
      of Shares has not been reached under the foregoing clauses (A) and (B),
      collectively the Ordinary Shares or other securities comprised of Registrable
      Securities and Investor Securities, Pro Rata, as to which registration has
      been
      requested pursuant to the terms hereof and of the Registration Rights Agreement,
      as applicable, that can be sold without exceeding the Maximum Number of Shares;
      and (D) fourth, to the extent that the Maximum Number of Shares has not been
      reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares or
      other securities for the account of other persons that the Company is obligated
      to register pursuant to written contractual arrangements with such persons,
      that
      can be sold without exceeding the Maximum Number of Shares.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    5.2.3 Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the registration statement. The Company (whether on its own
      determination or as the result of a withdrawal by persons making a demand
      pursuant to written contractual obligations) may withdraw a registration
      statement at any time prior to the effectiveness of the registration statement.
      Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
      by the holders of Registrable Securities in connection with such Piggy-Back
      Registration as provided in Section 5.2.4.

     

    5.2.4 Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the expenses of any legal counsel selected
      by
      the Holders to represent them in connection with the sale of the Registrable
      Securities but the Holders shall pay any and all underwriting commissions
      related to the Registrable Securities. In the event of such a proposed
      registration, the Company shall furnish the then Holders of outstanding
      Registrable Securities with not less than fifteen days written notice prior
      to
      the proposed date of filing of such registration statement. Such notice to
      the
      Holders shall continue to be given for each applicable registration statement
      filed (during the period in which the Purchase Option is exercisable) by the
      Company until such time as all of the Registrable Securities have been
      registered and sold. The Holders of the Registrable Securities shall exercise
      the “piggy-back” rights provided for herein by giving written notice, within ten
      days of the receipt of the Company’s notice of its intention to file a
      registration statement. The Company shall use its best efforts to cause any
      registration statement filed pursuant to the above “piggyback” rights to remain
      effective for at least nine months from the date that the Holders of the
      Registrable Securities are first given the opportunity to sell all of such
      securities.

     

    5.3 Intentionally
      Omitted.

     

    5.4 General
      Terms.

     

    5.4.1 Indemnification.
      The
      Company shall indemnify the Holder(s) of the Registrable Securities to be sold
      pursuant to any registration statement hereunder and each person, if any, who
      controls such Holders within the meaning of Section 15 of the Act or Section
      20(a) of the Securities Exchange Act of 1934, as amended (“Exchange
      Act”),
      against all loss, claim, damage, expense or liability (including all reasonable
      attorneys’ fees and other expenses reasonably incurred in investigating,
      preparing or defending against litigation, commenced or threatened, or any
      claim
      whatsoever whether arising out of any action between the underwriter and the
      Company or between the underwriter and any third party or otherwise) to which
      any of them may become subject under the Act, the Exchange Act or otherwise,
      arising from such registration statement but only to the same extent and with
      the same effect as the provisions pursuant to which the Company has agreed
      to
      indemnify the underwriters contained in Section 5 of the Underwriting Agreement
      between the Company, EBC and the other underwriters named therein dated the
      Effective Date. The Holder(s) of the Registrable Securities to be sold pursuant
      to such registration statement, and their successors and assigns, shall
      severally, and not jointly, indemnify the Company, its officers and directors
      and each person, if any, who controls the Company within the meaning of Section
      15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim,
      damage, expense or liability (including all reasonable attorneys’ fees and other
      expenses reasonably incurred in investigating, preparing or defending against
      any claim whatsoever) to which they may become subject under the Act, the
      Exchange Act or otherwise, arising from information furnished by or on behalf
      of
      such Holders, or their successors or assigns, in writing, for specific inclusion
      in such registration statement to the same extent and with the same effect
      as
      the provisions contained in Section 5 of the Underwriting Agreement pursuant
      to
      which the underwriters have agreed to indemnify the Company.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    5.4.2 Exercise
      of Purchase Options.
      Nothing
      contained in this Purchase Option shall be construed as requiring the Holder(s)
      to exercise their Purchase Options or Warrants underlying such Purchase Options
      prior to or after the initial filing of any registration statement or the
      effectiveness thereof.

     

    5.4.3 Documents
      Delivered to Holders.
      The
      Company shall furnish EBC, as representative of the Holders participating in
      any
      of the foregoing offerings, a signed counterpart, addressed to the participating
      Holders, of (i) an opinion of counsel to the Company, dated the effective date
      of such registration statement (and, if such registration includes an
      underwritten public offering, an opinion dated the date of the closing under
      any
      underwriting agreement related thereto), and (ii) a “cold comfort” letter dated
      the effective date of such registration statement (and, if such registration
      includes an underwritten public offering, a letter dated the date of the closing
      under the underwriting agreement) signed by the independent public accountants
      who have issued a report on the Company’s financial statements included in such
      registration statement, in each case covering substantially the same matters
      with respect to such registration statement (and the prospectus included
      therein) and, in the case of such accountants’ letter, with respect to events
      subsequent to the date of such financial statements, as are customarily covered
      in opinions of issuer’s counsel and in accountants’ letters delivered to
      underwriters in underwritten public offerings of securities. The Company shall
      also deliver promptly to EBC, as representative of the Holders participating
      in
      the offering, the correspondence and memoranda described below and copies of
      all
      correspondence between the Commission and the Company, its counsel or auditors
      and all memoranda relating to discussions with the Commission or its staff
      with
      respect to the registration statement and permit EBC, as representative of
      the
      Holders, to do such investigation, upon reasonable advance notice, with respect
      to information contained in or omitted from the registration statement as it
      deems reasonably necessary to comply with applicable securities laws or rules
      of
      FINRA. Such investigation shall include access to books, records and properties
      and opportunities to discuss the business of the Company with its officers
      and
      independent auditors, all to such reasonable extent and at such reasonable
      times
      and as often as EBC, as representative of the Holders, shall reasonably request.
      The Company shall not be required to disclose any confidential information
      or
      other records to EBC, as representative of the Holders, or to any other person,
      until and unless such persons shall have entered into reasonable confidentiality
      agreements (in form and substance reasonably satisfactory to the Company),
      with
      the Company with respect thereto.

     

    5.4.4 Underwriting
      Agreement.
      The
      Company shall enter into an underwriting agreement with the managing
      underwriter(s), if any, selected by any Holders whose Registrable Securities
      are
      being registered pursuant to this Section 5, which managing underwriter shall
      be
      reasonably acceptable to the Company. Such agreement shall be reasonably
      satisfactory in form and substance to the Company, each Holder and such managing
      underwriters, and shall contain such representations, warranties and covenants
      by the Company and such other terms as are customarily contained in agreements
      of that type used by the managing underwriter. The Holders shall be parties
      to
      any underwriting agreement relating to an underwritten sale of their Registrable
      Securities and may, at their option, require that any or all the
      representations, warranties and covenants of the Company to or for the benefit
      of such underwriters shall also be made to and for the benefit of such Holders.
      Such Holders shall not be required to make any representations or warranties
      to
      or agreements with the Company or the underwriters except as they may relate
      to
      such Holders and their intended methods of distribution. Such Holders, however,
      shall agree to such covenants and indemnification and contribution obligations
      for selling stockholders as are customarily contained in agreements of that
      type
      used by the managing underwriter. Further, such Holders shall execute
      appropriate custody agreements and otherwise cooperate fully in the preparation
      of the registration statement and other documents relating to any offering
      in
      which they include securities pursuant to this Section 5. Each Holder shall
      also
      furnish to the Company such information regarding itself, the Registrable
      Securities held by it, and the intended method of disposition of such securities
      as shall be reasonably required to effect the registration of the Registrable
      Securities.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    5.4.5 Rule
      144 Sale.
      Notwithstanding anything contained in this Section 5 to the contrary, the
      Company shall have no obligation pursuant to Sections 5.1 or 5.2 to use its
      best
      efforts to obtain the registration of Registrable Securities held by any Holder
      (i) where such Holder would then be entitled to sell under Rule 144 within
      any
      three-month period (or such other period prescribed under Rule 144 as may be
      provided by amendment thereof) all of the Registrable Securities then held
      by
      such Holder, and (ii) where the number of Registrable Securities held by such
      Holder is within the volume limitations under paragraph (e) of Rule 144
      (calculated as if such Holder were an affiliate within the meaning of Rule
      144).

     

    5.4.6 Supplemental
      Prospectus.
      Each
      Holder agrees, that upon receipt of any notice from the Company of the happening
      of any event as a result of which the prospectus included in the registration
      statement, as then in effect, includes an untrue statement of a material fact
      or
      omits to state a material fact required to be stated therein or necessary to
      make the statements therein not misleading in light of the circumstances then
      existing, such Holder will immediately discontinue disposition of Registrable
      Securities pursuant to the registration statement covering such Registrable
      Securities until such Holder’s receipt of the copies of a supplemental or
      amended prospectus, and, if so desired by the Company, such Holder shall deliver
      to the Company (at the expense of the Company) or destroy (and deliver to the
      Company a certificate of such destruction) all copies, other than permanent
      file
      copies then in such Holder’s possession, of the prospectus covering such
      Registrable Securities current at the time of receipt of such
      notice.

     

    
      
        	6.	
              	Adjustments.

      

       

    

    6.1 Adjustments
      to Exercise Price and Number of Securities.
      The
      Exercise Price and the number of Units underlying the Purchase Option shall
      be
      subject to adjustment from time to time as hereinafter set forth:

     

    6.1.1 Stock
      Dividends - Split-Ups.
      If
      after the date hereof, and subject to the provisions of Section 6.4 below,
      the
      number of outstanding Ordinary Shares is increased by a stock dividend payable
      in Ordinary Shares or by a split-up of Ordinary Shares or other similar event,
      then, on the effective date thereof, the number of Ordinary Shares underlying
      each of the Units purchasable hereunder shall be increased in proportion to
      such
      increase in outstanding shares. In such case, the number of Ordinary Shares,
      and
      the exercise price applicable thereto, underlying the Warrants underlying each
      of the Units purchasable hereunder shall be adjusted in accordance with the
      terms of the Warrants. For example, if the Company declares a two-for-one stock
      dividend and at the time of such dividend this Purchase Option is for the
      purchase of one Unit at $8.00 per whole Unit (each Warrant underlying the Units
      is exercisable for $5.00 per share), upon effectiveness of the dividend, this
      Purchase Option will be adjusted to allow for the purchase of one Unit at $8.00
      per Unit, each Unit entitling the holder to receive two Ordinary Shares and
      two
      Warrants (each Warrant exercisable for $2.50 per share).

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    6.1.2 Aggregation
      of Shares.
      If
      after the date hereof, and subject to the provisions of Section 6.4, the number
      of outstanding Ordinary Shares is decreased by a consolidation, combination
      or
      reclassification of Ordinary Shares or other similar event, then, on the
      effective date thereof, the number of Ordinary Shares underlying each of the
      Units purchasable hereunder shall be decreased in proportion to such decrease
      in
      outstanding shares. In such case, the number of Ordinary Shares, and the
      exercise price applicable thereto, underlying the Warrants underlying each
      of
      the Units purchasable hereunder shall be adjusted in accordance with the terms
      of the Warrants.

     

    6.1.3 Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding Ordinary Shares
      other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely
      affects the par value of such Ordinary Shares, or in the case of any merger
      or
      consolidation of the Company with or into another 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 Ordinary Shares), or in the case of any sale or conveyance to
      another corporation or entity of the property of the Company as an entirety
      or
      substantially as an entirety in connection with which the Company is dissolved,
      the Holder of this Purchase Option shall have the right thereafter (until the
      expiration of the right of exercise of this Purchase Option) to receive upon
      the
      exercise hereof, for the same aggregate Exercise Price payable hereunder
      immediately prior to such event, 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, by a Holder of the number of Ordinary Shares of the
      Company obtainable upon exercise of this Purchase Option and the underlying
      Warrants immediately prior to such event; and if any reclassification also
      results in a change in Ordinary Shares covered by Section 6.1.1 or 6.1.2, then
      such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section
      6.1.3. The provisions of this Section 6.1.3 shall similarly apply to successive
      reclassifications, reorganizations, mergers or consolidations, sales or other
      transfers.

     

    6.1.4 Changes
      in Form of Purchase Option.
      This
      form of Purchase Option need not be changed because of any change pursuant
      to
      this Section, and Purchase Options issued after such change may state the same
      Exercise Price and the same number of Units as are stated in the Purchase
      Options initially issued pursuant to this Agreement. The acceptance by any
      Holder of the issuance of new Purchase Options reflecting a required or
      permissive change shall not be deemed to waive any rights to an adjustment
      occurring after the Commencement Date or the computation thereof.

     

    6.2 [Intentionally
      Omitted]

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    6.3 Substitute
      Purchase Option.
      In case
      of any consolidation of the Company with, or merger of the Company with, or
      merger of the Company into, another corporation (other than a consolidation
      or
      merger which does not result in any reclassification or change of the
      outstanding Ordinary Share), the corporation formed by such consolidation or
      merger shall execute and deliver to the Holder a supplemental Purchase Option
      providing that the holder of each Purchase Option then outstanding or to be
      outstanding shall have the right thereafter (until the stated expiration of
      such
      Purchase Option) to receive, upon exercise of such Purchase Option, the kind
      and
      amount of shares of stock and other securities and property receivable upon
      such
      consolidation or merger, by a holder of the number of Ordinary Shares of the
      Company for which such Purchase Option might have been exercised immediately
      prior to such consolidation, merger, sale or transfer. Such supplemental
      Purchase Option shall provide for adjustments which shall be identical to the
      adjustments provided in Section 6. The above provision of this Section shall
      similarly apply to successive consolidations or mergers.

     

    6.4 Elimination
      of Fractional Interests.
      The
      Company shall not be required to issue certificates representing fractions
      of
      Ordinary Shares or Warrants upon the exercise of the Purchase Option, nor shall
      it be required to issue scrip or pay cash in lieu of any fractional interests,
      it being the intent of the parties that all fractional interests shall be
      eliminated by rounding any fraction up to the nearest whole number of Warrants,
      Ordinary Shares or other securities, properties or rights.

     

    7.           
      Reservation
      and Listing.
      The
      Company shall at all times reserve and keep available out of its authorized
      Ordinary Shares, solely for the purpose of issuance upon exercise of the
      Purchase Options or the Warrants underlying the Purchase Option, such number
      of
      Ordinary Shares or other securities, properties or rights as shall be issuable
      upon the exercise thereof. The Company covenants and agrees that, upon exercise
      of the Purchase Options and payment of the Exercise Price therefor, all Ordinary
      Shares and other securities issuable upon such exercise shall be duly and
      validly issued, fully paid and non-assessable and not subject to preemptive
      rights of any stockholder. The Company further covenants and agrees that upon
      exercise of the Warrants underlying the Purchase Options and payment of the
      respective Warrant exercise price therefor, all Ordinary Shares and other
      securities issuable upon such exercise shall be duly and validly issued, fully
      paid and non-assessable and not subject to preemptive rights of any stockholder.
      As long as the Purchase Options shall be outstanding, the Company shall use
      its
      best efforts to cause all (i) Units and Ordinary Shares issuable upon exercise
      of the Purchase Options, (iii) Warrants issuable upon exercise of the Purchase
      Options and (iv) Ordinary Shares issuable upon exercise of the Warrants included
      in the Units issuable upon exercise of the Purchase Option to be listed (subject
      to official notice of issuance) on all securities exchanges (or, if applicable
      on the Nasdaq National Market, SmallCap Market, OTC Bulletin Board or any
      successor trading market) on which the Units, the Ordinary Share or the Public
      Warrants issued to the public in connection herewith may then be listed and/or
      quoted.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    
      
        
          	8.	
                	Certain Notice
                  Requirements.

        

         

      

    

    8.1 Holder’s
      Right to Receive Notice.
      Nothing
      herein shall be construed as conferring upon the Holders the right to vote
      or
      consent as a stockholder for the election of directors or any other matter,
      or
      as having any rights whatsoever as a stockholder of the Company. If, however,
      at
      any time prior to the expiration of the Purchase Options and their exercise,
      any
      of the events described in Section 8.2 shall occur, then, in one or more of
      said
      events, the Company shall give written notice of such event at least fifteen
      days prior to the date fixed as a record date or the date of closing the
      transfer books for the determination of the stockholders entitled to such
      dividend, distribution, conversion or exchange of securities or subscription
      rights, or entitled to vote on such proposed dissolution, liquidation, winding
      up or sale. Such notice shall specify such record date or the date of the
      closing of the transfer books, as the case may be. Notwithstanding the
      foregoing, the Company shall deliver to each Holder a copy of each notice given
      to the other stockholders of the Company at the same time and in the same manner
      that such notice is given to the stockholders.

     

    8.2 Events
      Requiring Notice.
      The
      Company shall be required to give the notice described in this Section 8 upon
      one or more of the following events: (i) if the Company shall take a record
      of
      the holders of its Ordinary Shares for the purpose of entitling them to receive
      a dividend or distribution payable otherwise than in cash, or a cash dividend
      or
      distribution payable otherwise than out of retained earnings, as indicated
      by
      the accounting treatment of such dividend or distribution on the books of the
      Company, or (ii) the Company shall offer to all the holders of its Ordinary
      Share any additional shares of capital stock of the Company or securities
      convertible into or exchangeable for shares of capital stock of the Company,
      or
      any option, right or warrant to subscribe therefor, or (iii) a dissolution,
      liquidation or winding up of the Company (other than in connection with a
      consolidation or merger) or a sale of all or substantially all of its property,
      assets and business shall be proposed.

     

    8.3 Notice
      of Change in Exercise Price.
      The
      Company shall, promptly after an event requiring a change in the Exercise Price
      pursuant to Section 6 hereof, send notice to the Holders of such event and
      change (“Price
      Notice”).
      The
      Price Notice shall describe the event causing the change and the method of
      calculating same and shall be certified as being true and accurate by the
      Company’s President and Chief Financial Officer.

     

    8.4 Transmittal
      of Notices.
      All
      notices, requests, consents and other communications under this Purchase Option
      shall be in writing and shall be deemed to have been duly made when hand
      delivered, or mailed by express mail or private courier service: (i) if to
      the
      registered Holder of the Purchase Option, to the address of such Holder as
      shown
      on the books of the Company, or (ii) if to the Company, to the following address
      or to such other address as the Company may designate by notice to the
      Holders:

     

    
      	 	 	 	
              Spring
                Creek Acquisition Corp.

            

    

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

    No.
      17,
      North DaLiuShu Road

    Hai
      Dian
      District, Beijing 100081

    People’s
      Republic of China

    Attn:    
      Chairman

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

     

    
      
        
          	9.	
                	Miscellaneous.

        

         

      

    

    9.1 Amendments.
      The
      Company and EBC may from time to time supplement or amend this Purchase Option
      without the approval of any of the Holders in order to cure any ambiguity,
      to
      correct or supplement any provision contained herein that may be defective
      or
      inconsistent with any other provisions herein, or to make any other provisions
      in regard to matters or questions arising hereunder that the Company and EBC
      may
      deem necessary or desirable and that the Company and EBC deem shall not
      adversely affect the interest of the Holders. All other modifications or
      amendments shall require the written consent of and be signed by the party
      against whom enforcement of the modification or amendment is
      sought.

     

    9.2 Headings.
      The
      headings contained herein are for the sole purpose of convenience of reference,
      and shall not in any way limit or affect the meaning or interpretation of any
      of
      the terms or provisions of this Purchase Option.

     

    9.3 Entire
      Agreement.
      This
      Purchase Option (together with the other agreements and documents being
      delivered pursuant to or in connection with this Purchase Option) constitutes
      the entire agreement of the parties hereto with respect to the subject matter
      hereof, and supersedes all prior agreements and understandings of the parties,
      oral and written, with respect to the subject matter hereof.

     

    9.4 Binding
      Effect.
      This
      Purchase Option shall inure solely to the benefit of and shall be binding upon,
      the Holder and the Company and their permitted assignees, respective successors,
      legal representative and assigns, and no other person shall have or be construed
      to have any legal or equitable right, remedy or claim under or in respect of
      or
      by virtue of this Purchase Option or any provisions herein
      contained.

     

    9.5 Governing
      Law; Submission to Jurisdiction.
      This
      Purchase Option shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflict of
      laws. The Company hereby agrees that any action, proceeding or claim against
      it
      arising out of, or relating in any way to this Purchase Option shall be brought
      and enforced in the courts of the State of New York or of the United States
      of
      America for the Southern District of New York, and irrevocably submits to such
      jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives
      any objection to such exclusive jurisdiction and that such courts represent
      an
      inconvenient forum. Any process or summons to be served upon the Company may
      be
      served by transmitting a copy thereof by registered or certified mail, return
      receipt requested, postage prepaid, addressed to it at the address set forth
      in
      Section 8 hereof. Such mailing shall be deemed personal service and shall be
      legal and binding upon the Company in any action, proceeding or claim. The
      Company and the Holder agree that the prevailing party(ies) in any such action
      shall be entitled to recover from the other party(ies) all of its reasonable
      attorneys’ fees and expenses relating to such action or proceeding and/or
      incurred in connection with the preparation therefor.

     

    9.6 Waiver,
      Etc.
      The
      failure of the Company or the Holder to at any time enforce any of the
      provisions of this Purchase Option shall not be deemed or construed to be a
      waiver of any such provision, nor to in any way affect the validity of this
      Purchase Option or any provision hereof or the right of the Company or any
      Holder to thereafter enforce each and every provision of this Purchase Option.
      No waiver of any breach, non-compliance or non-fulfillment of any of the
      provisions of this Purchase Option shall be effective unless set forth in a
      written instrument executed by the party or parties against whom or which
      enforcement of such waiver is sought; and no waiver of any such breach,
      non-compliance or non- fulfillment shall be construed or deemed to be a waiver
      of any other or subsequent breach or non-compliance.

     

    
      
         

      

      
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    9.7 Execution
      in Counterparts.
      This
      Purchase Option may be executed in one or more counterparts, and by the
      different parties hereto in separate counterparts, each of which shall be deemed
      to be an original, but all of which taken together shall constitute one and
      the
      same agreement, and shall become effective when one or more counterparts has
      been signed by each of the parties hereto and delivered to each of the other
      parties hereto.

     

    9.8 Intentionally
      Omitted.

     

    9.9 Intentionally
      Omitted.

     

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by
      its
      duly authorized officer as of the ____ day of _________, 2008.

    
      	 	 	 
	 	SPRING CREEK ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
	 	Title:

    

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    

     

    Form
      to
      be used to exercise Purchase Option:

     

    Spring
      Creek Acquisition Corp.

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

    No.
      17,
      North DaLiuShu Road

    Hai
      Dian
      District, Beijing 100081

    People’s
      Republic of China

     

    Date:_________________,
      200__

     

    The
      undersigned hereby elects irrevocably to exercise all or a portion of the within
      Purchase Option and to purchase ____ Units of Spring Creek Acquisition Corp.
      and
      hereby makes payment of $____________ (at the rate of $_________ per Unit)
      in
      payment of the Exercise Price pursuant thereto. Please issue the Ordinary Shares
      and Warrants as to which this Purchase Option is exercised in accordance with
      the instructions given below.

     

    or

     

    The
      undersigned hereby elects irrevocably to convert its right to purchase _________
      Units purchasable under the within Purchase Option by surrender of the
      unexercised portion of the attached Purchase Option (with a “Value” based of
      $_______ based on a “Market Price” of $_______). Please issue the securities
      comprising the Units as to which this Purchase Option is exercised in accordance
      with the instructions given below.

     

    
      
        

      

    

    NOTICE:
      The signature to this assignment must correspond with the name as written upon
      the face of the purchase option in every particular, without alteration or
      enlargement or any change whatever.

    

    Signature(s)
      Guaranteed:

    

    
      

    

    THE
      SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
      STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP
      IN
      AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE
      17Ad-15).

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    INSTRUCTIONS
      FOR REGISTRATION OF SECURITIES

     

    Name
      

     

    
      
 (Print
      in
      Block Letters)

     

    Address
      

     

    
      
 

     

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    

     

    Form
      to
      be used to assign Purchase Option:

     

    ASSIGNMENT

     

    (To
      be
      executed by the registered Holder to effect a transfer of the within Purchase
      Option):

     

    FOR
      VALUE
      RECEIVED,______________________________________________ does hereby sell, assign
      and transfer unto___________________________________________ the right to
      purchase __________ Units of Spring Creek Acquisition Corp. (“Company”)
      evidenced by the within Purchase Option and does hereby authorize the Company
      to
      transfer such right on the books of the Company.

     

    Dated:___________________,
      200_

     

    
      

    

    Signature

     

    
      

    

    NOTICE:
      The signature to this assignment must correspond with the name as written upon
      the face of the purchase option in every particular, without alteration or
      enlargement or any change whatever.

    

    Signature(s)
      Guaranteed:

    

    
      

    

    THE
      SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
      STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP
      IN
      AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE
      17Ad-15).

     

    
      
         

      

      
        20WARRANT
      AGREEMENT

     

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

     

    WHEREAS,
      the Company is engaged in a public offering (“Public Offering”) of Units, each
      comprised of one of the Company’s Ordinary Shares (as hereinafter defined) and
      one Warrant (as hereinafter defined) (the “Units”) and, in connection therewith,
      has determined to issue and deliver (i) up to 5,175,000 Warrants (“Public
      Warrants”) to the public investors, (ii) 1,250,000 Warrants to the Company’s
      founding shareholders (the “Placement Warrants”) in a concurrent private
      placement pursuant to that certain Subscription Agreement dated
      ________________, 2008 (the “Subscription Agreement”) and (iii) 450,000 Warrants
      to EarlyBird Capital, Inc. the representative (the “Representative”) of the
      underwriters (the “Underwriters”) with respect to the Public Offering, or to the
      Representative’s designees (“Representative’s Warrants” and, together with the
      Public Warrants and the Placement Warrants, the “Warrants”), each of such
      Warrants evidencing the right of the holder thereof to purchase one ordinary
      share, par value $.001 per share, of the Company (“Ordinary Share”) for $5.50;
      and

     

    WHEREAS,
      the Company has filed with the Securities and Exchange Commission (the “SEC”) a
      Registration Statement, No. 333-147284 on Form S-1 (as may be amended from
      time
      to time) (“Registration Statement”) for the registration under the Securities
      Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants
      and the Representative’s Warrants and the Ordinary Share issuable upon exercise
      of the Public Warrants and the Representative’s Warrants; and

     

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

     

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

     

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

     

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

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

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

     

    2. Warrants.

     

    2.1 Form
      of Warrant.
      Each
      Warrant shall be issued in registered form only. Each Public Warrant, Placement
      Warrant and Representative Warrant shall be in substantially the forms,
      respectively, of Exhibit
      A-1,
      Exhibit
      A-2 and
      Exhibit
      A-3
      hereto,
      the provisions of which are incorporated herein, and shall be signed by, or
      bear
      the facsimile signature of, the Chairman of the Board or Chief Executive Officer
      and Chief Financial Officer, Treasurer, Secretary or Assistant Secretary of
      the
      Company and shall bear a facsimile of the Company’s seal. In the event the
      person whose facsimile signature has been placed upon any Warrant shall have
      ceased to serve in the capacity in which such person signed the Warrant before
      such Warrant is issued, it may be issued with the same effect as if he or she
      had not ceased to be such at the date of issuance.

     

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

     

    2.3 Registration.
      

     

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

     

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

     

    2.4 Detachability
      of Warrants.
      The
      Ordinary Shares and Warrants comprising the Units will not be separately
      transferable until the 90th
      day
      after the Registration Statement is declared effective by the Staff of the
      SEC
      unless the Representative informs the Company of its determination (based on
      its
      assessment of the relative strengths of the securities markets and small
      capitalization companies in general and the trading pattern of and demand for
      the Company’s securities in particular) that an earlier separate trading date is
      acceptable. In no event will the Representative allow separate trading of the
      securities comprising the Units until the Company files a Current Report on
      Form
      8-K, that includes an audited balance sheet reflecting the receipt by the
      Company of the gross proceeds of the Public Offering including the proceeds
      received by the Company from the exercise of the Underwriters’ Over-Allotment
      Option, if the Over-Allotment Option is exercised prior to the filing of the
      Form 8-K. For purposes of this Warrant Agreement, the term “Over Allotment
      Option” shall mean the option granted by the Company to the Underwriters, and
      exercisable until ________, 2008, to purchase from the Company at a price of
      $8.00 per Unit less underwriting discounts, up to an aggregate of 675,000 Units
      for the sole purpose of covering over-allotments, if any, in connection with
      the
      Public Offering.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3. Terms
      and Exercise of Warrants

     

    3.1 Warrant
      Price.
      Each
      Warrant shall, when countersigned by the Warrant Agent, entitle the registered
      holder thereof, subject to the provisions of such Warrant and of this Warrant
      Agreement, to purchase from the Company the number of Ordinary Shares stated
      therein, at the price of $5.50 per whole share, subject to the adjustments
      provided in Section 4 hereof and in the last sentence of this Section 3.1.
      The
      term “Warrant Price” as used in this Warrant Agreement refers to the price at
      which each Ordinary Share may be purchased at the time a Warrant is exercised.
      The Company in its sole discretion may lower the Warrant Price at any time
      prior
      to the Expiration Date (as hereinafter defined).

     

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

     

    3.3 Exercise
      of Warrants.

     

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

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3.3.2 Issuance
      of Certificates.
      As soon
      as practicable after the exercise of any Warrant and, to the extent applicable,
      the clearance of the funds in payment of the Warrant Price, the Company shall
      issue to the registered holder of such Warrant a certificate or certificates
      for
      the number of full Ordinary Shares to which he, she or it is entitled,
      registered in such name or names as may be directed by him, her or it, and
      if
      such Warrant shall not have been exercised in full, a new countersigned Warrant
      for the number of shares as to which such Warrant shall not have been exercised.
      Notwithstanding the foregoing, the Company shall not be obligated to deliver
      any
      securities pursuant to the exercise of a Warrant unless (i) a registration
      statement under the Act with respect to the Ordinary Shares issuable upon the
      exercise of such Warrant is effective, or (ii) in the opinion of counsel to
      the
      Company, the exercise of such Warrant is exempt from the registration
      requirements of the Act and the Ordinary Shares issuable upon exercise of such
      Warrant are qualified for sale or exempt from qualification under applicable
      securities laws of the states or other jurisdictions in which the registered
      holder(s) thereof reside. Warrants may not be exercised by, or securities issued
      to, any registered holder in any state in which such exercise or issuance would
      be unlawful. In no event will the registered holder of the Warrant be entitled
      to receive a net-cash settlement, securities or other consideration in lieu
      of
      physical settlement in Ordinary Shares, regardless of whether the Ordinary
      Shares underlying the Warrants are registered pursuant to an effective
      registration statement.

     

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

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

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

     

    4. Adjustments.

     

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

     

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

     

    4.3 Adjustments
      in Warrant Price.
      Whenever the number of Ordinary Shares purchasable upon the exercise of the
      Warrants is adjusted, as provided in Section 4.1 and 4.2 above, the Warrant
      Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price
      immediately prior to such adjustment by a fraction (x) the numerator of which
      shall be the number of Ordinary Shares purchasable upon the exercise of the
      Warrants immediately prior to such adjustment, and (y) the denominator of which
      shall be the number Ordinary Shares so purchasable immediately
      thereafter.

     

    4.4 Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding Ordinary Shares
      (other than a change covered by Section 4.1 or 4.2 hereof or that solely affects
      the par value of such Ordinary Shares), or in the case of any merger or
      consolidation of the Company with or into another company (other than a
      consolidation or merger in which the Company survives and that does not result
      in any reclassification or reorganization of the outstanding Ordinary Shares),
      or in the case of any sale or conveyance to another company or entity of the
      assets or other property of the Company as an entirety or substantially as
      an
      entirety in connection with which the Company is dissolved, the Warrant holders
      shall thereafter have the right to purchase and receive, upon the basis and
      upon
      the terms and conditions specified in the Warrants and in lieu of the Ordinary
      Shares of the Company immediately theretofore purchasable and receivable upon
      the exercise of the rights represented thereby, the kind and amount of shares
      of
      stock or other securities or property (including cash) receivable upon such
      reclassification, reorganization, merger or consolidation, or upon a dissolution
      following any such sale or transfer, that the Warrant holder would have received
      if such Warrant holder had exercised his, her or its Warrant(s) immediately
      prior to such event; and if any reclassification also results in a change in
      Ordinary Shares covered by Section 4.1 or 4.2, then such adjustment shall be
      made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The provisions
      of
      this Section 4.4 shall similarly apply to successive reclassifications,
      reorganizations, mergers or consolidations, sales or other
      transfers.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    5. Transfer
      and Exchange of Warrants.

     

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

     

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

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    6. Redemption.

     

    6.1 Redemption.
      Subject
      to Section 6.4 hereof, not less than all of the outstanding Warrants may be
      redeemed, at the option of the Company, with the prior consent of the
      Representative, at any time while they are exercisable and prior to their
      expiration, at the office of the Warrant Agent, upon the notice referred to
      in
      Section 6.2, at the price of $.01 per Warrant (the “Redemption Price”), provided
      that the last sales price of the Ordinary Shares has been equal to or greater
      than $11.50 per share, on each of twenty (20) trading days within any thirty
      (30) trading day period ending on the third business day prior to the date
      on
      which notice of redemption is given. Notwithstanding the foregoing, the
      registration statement with respect to the Ordinary Shares for which the
      Warrants are exercisable must be current and effective in order for the Company
      to exercise its redemption rights pursuant to this Section 6. The provisions
      of
      this Section 6.1 may not be modified, amended or deleted without the prior
      written consent of the Representative.

     

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

     

    6.3 Exercise
      After Notice of Redemption.
      The
      Warrants may be exercised in accordance with Section 3 of this Warrant Agreement
      at any time after notice of redemption shall have been given by the Company
      pursuant to Section 6.2 hereof and prior to the Redemption Date. In
      the
      event the Company determines to require all holders of Warrants to exercise
      their Warrants on a “cashless basis” pursuant to Section 3, the notice of
      redemption will contain the information necessary to calculate the number of
      Ordinary Shares to be received upon exercise of the Warrants, including the
      “Fair Market Value” in such case. On
      and
      after the Redemption Date, the record holder of the Warrants shall have no
      further rights except to receive, upon surrender of the Warrants, the Redemption
      Price.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

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

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    8. Concerning
      the Warrant Agent and Other Matters.

     

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

     

    8.2 Resignation,
      Consolidation, or Merger of Warrant Agent.

     

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

     

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

     

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

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    8.3 Fees
      and Expenses of Warrant Agent.

     

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

     

    8.3.2 Further
      Assurances.
      The
      Company agrees to perform, execute, acknowledge, and deliver or cause to be
      performed, executed, acknowledged, and delivered all such further and other
      acts, instruments, and assurances as may reasonably be required by the Warrant
      Agent for the carrying out or performing of the provisions of this Warrant
      Agreement.

     

    8.4 Liability
      of Warrant Agent.

     

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

     

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

     

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

     

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

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    9. Miscellaneous
      Provisions.

     

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

     

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

     

    Spring
      Creek Acquisition Corp.

    10F,
      Room#1005

    Fortune
      Int’l Building, No.17

    North
      DaLiuShu Road,

    Hai
      Dian
      District Beijing 100081

    People’s
      Republic of China 

    Attn: 

     

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

     

    American
      Stock Transfer & Trust Company

    59
      Maiden
      Lane

    New
      York,
      New York 10038

    Attn: Compliance
      Department

     

    with
      a
      copy in each case to:

     

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn: Mitchell
      S. Nussbaum, Esq.

     

    and

     

    EarlyBird
      Capital, Inc.

    275
      Madison Avenue

    New
      York,
      New York 10016

    Attn:
      David M. Nussbuam, Chairman

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    and

     

    Graubard
      Miller

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn: David
      Alan Miller, Esq.

     

    9.3 Applicable
      law.
      The
      validity, interpretation, and performance of this Warrant Agreement and of
      the
      Warrants shall be governed in all respects by the laws of the State of New
      York,
      without giving effect to conflict of laws. The Company hereby agrees that any
      action, proceeding or claim against it arising out of or relating in any way
      to
      this Warrant Agreement shall be brought and enforced in the courts of the State
      of New York or the United States District Court for the Southern District of
      New
      York, and irrevocably submits to such jurisdiction, which jurisdiction shall
      be
      exclusive. The Company hereby waives any objection to such exclusive
      jurisdiction and that such courts represent an inconvenient forum. Any such
      process or summons to be served upon the Company may be served by transmitting
      a
      copy thereof by registered or certified mail, return receipt requested, postage
      prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such
      mailing shall be deemed personal service and shall be legal and binding upon
      the
      Company in any action, proceeding or claim.

     

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

     

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

     

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

     

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

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

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

     

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

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

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

    

    
      	
              Attest:

            	
                SPRING
                CREEK ACQUISITION CORP.

            
	 	 	 
	 	
                By:

            	
               

            
	 	 	
              Name:
                

            
	
                

            	 	
              Title:

            

    

     

    
      	
              Attest:

            	
                AMERICAN
                STOCK TRANSFER & TRUST COMPANY

            
	 	 	 
	 	
                By:

            	
               

            
	 	 	
              Name:
                

            
	
                

            	 	
              Title:

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-1

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    PUBLIC
      WARRANT

    

    
      	
              NUMBER

              __________-

            	
              WARRANTS

            

    

     

    (SEE
      REVERSE SIDE FOR LEGEND)

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

    NEW
      YORK
      CITY TIME, __________, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring _________, 2013 (the
“Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ______________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”). The Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      _____________, 2009, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date, such number of Shares of the Company at the price of $5.50
      per
      share, upon surrender of this Warrant Certificate and payment of the Warrant
      Price at the office or agency of the Warrant Agent, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made at the option of
      the holder of the Warrant in cash or by certified or official bank check payable
      to the order of the Company. The Warrant Agreement provides that upon the
      occurrence of certain events the Warrant Price and the number of Warrant Shares
      purchasable hereunder, set forth on the face hereof, may, subject to certain
      conditions, be adjusted. The term Warrant Price as used in this Warrant
      Certificate refers to the price per Share at which Shares may be purchased
      at
      the time the Warrant is exercised. Capitalized terms used in this Warrant
      Certificate without definition shall have the respective meanings ascribed
      to
      such terms in the Warrant Agreement.

     

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

     

    Upon
      any
      exercise of the Warrant for less than the total number of full Shares provided
      for herein, there shall be issued to the registered holder hereof or his
      assignee a new Warrant Certificate covering the number of Shares for which
      the
      Warrant has not been exercised.

     

    Warrant
      Certificates, when surrendered at the office or agency of the Warrant Agent
      by
      the registered holder hereof in person or by attorney duly authorized in
      writing, may be exchanged in the manner and subject to the limitations provided
      in the Warrant Agreement, but without payment of any service charge, for another
      Warrant Certificate or Warrant Certificates of like tenor and evidencing in
      the
      aggregate a like number of Warrants.

    
      
        
        

      

      
        A-1-1

        
          

        

      

      
        
        

      

    

     

    Upon
      due
      presentment for registration of transfer of the Warrant Certificate at the
      office or agency of the Warrant Agent, a new Warrant Certificate or Warrant
      Certificates of like tenor and evidencing in the aggregate a like number of
      Warrants shall be issued to the transferee in exchange for this Warrant
      Certificate, subject to the limitations provided in the Warrant Agreement,
      without charge except for any applicable tax or other governmental
      charge.

     

    The
      Company and the Warrant Agent may deem and treat the registered holder as the
      absolute owner of this Warrant Certificate (notwithstanding any notation of
      ownership or other writing hereon made by anyone), for the purpose of any
      exercise hereof, of any distribution to the registered holder, and for all
      other
      purposes, and neither the Company nor the Warrant Agent shall be affected by
      any
      notice to the contrary.

     

    This
      Warrant does not entitle the registered holder to any of the rights of a
      stockholder of the Company.

     

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

    
      
        
        

      

      
        A-1-2

        
          

        

      

      
        
        

      

    

     

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

     

    
      	
              SPRING
                CREEK ACQUISITION CORP.

               

            
	
              By:

            	
               

            
	 	
              Title:

            

    

     

    [SEAL]

     

    
      	
              Attest:

            	
               

            
	 	
              Secretary

            

    

     

    DATED:

     

    Countersigned:

     

    
      	
              AMERICAN
                STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

               

            
	
              By:

            	
               

            
	 	
              Authorized
                Signatory

            

    

    
      
        
        

      

      
        A-1-3

        
          

        

      

      
        
        

      

    

     

    SUBSCRIPTION
      FORM

    To
      Be
      Executed by the Registered Holder in Order to Exercise Warrants

     

    The
      undersigned Registered Holder irrevocably elects to exercise ______________
      Warrants represented by this Warrant Certificate, and to purchase the Ordinary
      Shares issuable upon the exercise of such Warrants, and requests that
      Certificates for such shares shall be issued in the name of

    
      	
               

               

            
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 
	 
	
              and,
                if such number of Warrants shall not be all the Warrants evidenced
                by this
                Warrant Certificate, that a new Warrant Certificate for the balance
                of
                such Warrants be registered in the name of, and delivered to, the
                Registered Holder at the address stated below:

               

            
	
              Dated:

            	                                            
              	 
	 	 	
              (SIGNATURE)

            
	 	 	 
	 	 	
              (ADDRESS)

            
	 	 	 
	 	 	 
	 	 	
              (TAX
                IDENTIFICATION NUMBER)

            

    

    
      
        
        

      

      
        A-1-4

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT

     

    To
      Be
      Executed by the Registered Holder in Order to Assign Warrants

    
      	
               

              For
                Value Received, 

            	 	
               

               hereby
                sell, assign, and transfer unto

            
	 
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 	
               

               of
                the Warrants represented by this Warrant Certificate, and
                hereby

            
	
              irrevocably
                constitute and appoint 

            	 
	
              Attorney
                to transfer this Warrant Certificate on the books of the Company,
                with
                full power of substitution in the premises.

               

            
	
              Dated:

            	
                                                                                      
                

            	 
	 	 	
              (SIGNATURE)

            

    

     

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

    
      
        
        

      

      
        A-1-5

        
          

        

      

      
        
        

      

    

    
       

      EXHIBIT
        A-2

    

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    PLACEMENT
      WARRANT

    

    
      	
              NUMBER

              _________-

            	
              WARRANTS

            

    

    

    (SEE
      REVERSE SIDE FOR LEGENDS)

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

    NEW
      YORK
      CITY TIME, April 25, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring ____________, 2013 (the
      “Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ______________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”), the Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      _____________, 2009, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date, such number of Shares of the Company at the price of $5.50
      per
      share, upon surrender of this Warrant Certificate and payment of the Warrant
      Price at the office or agency of the Warrant Agent, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made, at the option of
      the holder of the Warrant either in cash or by certified or official bank check
      payable to the order of the Company or if the Warrants have been called for
      redemption by the Company and such warrant is held by an officer or director
      of
      the Company or any of their respective affiliates, on a cashless basis by
      surrendering Warrants held by the holder to the Company. The Warrant Agreement
      provides that upon the occurrence of certain events the Warrant Price and the
      number of Warrant Shares purchasable hereunder, set forth on the face hereof,
      may, subject to certain conditions, be adjusted. The term Warrant Price as
      used
      in this Warrant Certificate refers to the price per Share at which Shares may
      be
      purchased at the time the Warrant is exercised. Capitalized terms used in this
      Warrant Certificate without definition shall have the respective meanings
      ascribed to such terms in the Warrant Agreement.

     

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

     

    Upon
      any
      exercise of the Warrant for less than the total number of full Shares provided
      for herein, there shall be issued to the registered holder hereof or his
      assignee a new Warrant Certificate covering the number of Shares for which
      the
      Warrant has not been exercised.

    
      
        
        

      

      
        A-2-1

        
          

        

      

      
        
        

      

    

     

    Warrant
      Certificates, when surrendered at the office or agency of the Warrant Agent
      by
      the registered holder hereof in person or by attorney duly authorized in
      writing, may be exchanged in the manner and subject to the limitations provided
      in the Warrant Agreement, but without payment of any service charge, for another
      Warrant Certificate or Warrant Certificates of like tenor and evidencing in
      the
      aggregate a like number of Warrants.

     

    Upon
      due
      presentment for registration of transfer of the Warrant Certificate at the
      office or agency of the Warrant Agent, a new Warrant Certificate or Warrant
      Certificates of like tenor and evidencing in the aggregate a like number of
      Warrants shall be issued to the transferee in exchange for this Warrant
      Certificate, subject to the limitations provided in the Warrant Agreement,
      without charge except for any applicable tax or other governmental
      charge.

     

    The
      Company and the Warrant Agent may deem and treat the registered holder as the
      absolute owner of this Warrant Certificate (notwithstanding any notation of
      ownership or other writing hereon made by anyone), for the purpose of any
      exercise hereof, of any distribution to the registered holder, and for all
      other
      purposes, and neither the Company nor the Warrant Agent shall be affected by
      any
      notice to the contrary.

     

    This
      Warrant does not entitle the registered holder to any of the rights of a
      stockholder of the Company.

     

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

    
      
        
        

      

      
        A-2-2

        
          

        

      

      
        
        

      

    

     

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

    
       

      
        	
                SPRING
                  CREEK ACQUISITION CORP.

                 

              
	
                By:

              	
                 

              
	 	
                Title:

              

      

       

      [SEAL]

       

      
        	
                Attest:

              	
                 

              
	 	
                Secretary

              

      

       

      DATED:

       

      Countersigned:

       

      
        	
                AMERICAN
                  STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

                 

              
	
                By:

              	
                 

              
	 	
                Authorized
                  Signatory

              

      

       

    

    
      
        
        

      

      
        A-2-3

        
          

        

      

      
        
        

      

    

     

    [FORM
      OF
      REVERSE OF WARRANT CERTIFICATE FOR PLACEMENT WARRANT]

     

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

     

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

     

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

     

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

    
      
        
        

      

      
        A-2-4

        
          

        

      

      
        
        

      

    

     

    SUBSCRIPTION
      FORM

    To
      Be
      Executed by the Registered Holder in Order to Exercise Warrants

     

    The
      undersigned Registered Holder irrevocably elects to exercise ______________
      Warrants represented by this Warrant Certificate, and to purchase the Ordinary
      Shares issuable upon the exercise of such Warrants, and requests that
      Certificates for such shares shall be issued in the name of

     

    
      	 
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 
	 
	
              and,
                if such number of Warrants shall not be all the Warrants evidenced
                by this
                Warrant Certificate, that a new Warrant Certificate for the balance
                of
                such Warrants be registered in the name of, and delivered to, the
                Registered Holder at the address stated below:

               

            
	
              Dated:

            	                
                                           
              	 
	 	 	
              (SIGNATURE)

            
	 	 	 
	 	 	
              (ADDRESS)

            
	 	 	 
	 	 	 
	 	 	
              (TAX
                IDENTIFICATION NUMBER)

            

    

    
      
        
        

      

      
        A-2-5

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT

     

    To
      Be
      Executed by the Registered Holder in Order to Assign Warrants

    
      	
               

              For
                Value Received, 

            	 	
               

               hereby
                sell, assign, and transfer unto

            
	 
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 	
               

               of
                the Warrants represented by this Warrant Certificate, and
                hereby

            
	
              irrevocably
                constitute and appoint 

            	 
	
              Attorney
                to transfer this Warrant Certificate on the books of the Company,
                with
                full power of substitution in the premises.

               

            
	
              Dated:

            	                                          
              	 
	 	 	
              (SIGNATURE)

            

    

     

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

    
      
        
        

      

      
        A-2-6

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-3

     

    SPECIMEN
      WARRANT CERTIFICATE FOR

    REPRESENTATIVE
      WARRANT

    

    
      	
              NUMBER
                

              __________-

            	
              WARRANTS

            

    

     

    (SEE
      REVERSE SIDE FOR LEGEND)

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

    NEW
      YORK
      CITY TIME, __________, 2013

     

    SPRING
      CREEK ACQUISITION CORP.

     

    CUSIP

     

    WARRANT

     

    THIS
      CERTIFIES THAT, for value received

     

    is
      the
      registered holder of a Warrant or Warrants expiring _____________, 2013 (the
      “Warrant”) to purchase one fully paid and non-assessable Ordinary Share, par
      value $.001 per share (“Shares”), of SPRING CREEK ACQUISITION CORP., a Cayman
      Islands company (the “Company”), for each Warrant evidenced by this Warrant
      Certificate. Subject to the conditions set forth herein and in the Warrant
      Agreement dated as of ____________, 2008 by and between the Company and the
      Warrant Agent (the “Warrant Agreement”), the Warrant entitles the holder thereof
      to purchase from the Company, commencing on the later of (i) the Company’s
      completion of a Business Combination with a Target Business or (ii)
      ____________, 2008, and terminating at 5:00 p.m., New York City time on the
      earlier to occur of (x) _____________, 2013 (the “Expiration Date”) or (y) the
      Redemption Date such number of Shares of the Company at the price of $5.50
      per
      share, upon surrender of this Warrant Certificate and payment of the Warrant
      Price at the office or agency of the Warrant Agent, American Stock Transfer
      & Trust Company. Payment of the Warrant Price may be made, at the option of
      the holder of the Warrant, in cash or by certified or official bank check
      payable to the order of the Company. The Warrant Agreement provides that upon
      the occurrence of certain events the Warrant Price and the number of Warrant
      Shares purchasable hereunder, set forth on the face hereof, may, subject to
      certain conditions, be adjusted. The term Warrant Price as used in this Warrant
      Certificate refers to the price per Share at which Shares may be purchased
      at
      the time the Warrant is exercised. Capitalized terms used in this Warrant
      Certificate without definition shall have the respective meanings ascribed
      to
      such terms in the Warrant Agreement.

     

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

     

    Upon
      any
      exercise of the Warrant for less than the total number of full Shares provided
      for herein, there shall be issued to the registered holder hereof or his
      assignee a new Warrant Certificate covering the number of Shares for which
      the
      Warrant has not been exercised.

     

    Warrant
      Certificates, when surrendered at the office or agency of the Warrant Agent
      by
      the registered holder hereof in person or by attorney duly authorized in
      writing, may be exchanged in the manner and subject to the limitations provided
      in the Warrant Agreement, but without payment of any service charge, for another
      Warrant Certificate or Warrant Certificates of like tenor and evidencing in
      the
      aggregate a like number of Warrants.

    
      
        
        

      

      
        A-3-1

        
          

        

      

      
        
        

      

    

     

    Upon
      due
      presentment for registration of transfer of the Warrant Certificate at the
      office or agency of the Warrant Agent, a new Warrant Certificate or Warrant
      Certificates of like tenor and evidencing in the aggregate a like number of
      Warrants shall be issued to the transferee in exchange for this Warrant
      Certificate, subject to the limitations provided in the Warrant Agreement,
      without charge except for any applicable tax or other governmental
      charge.

     

    The
      Company and the Warrant Agent may deem and treat the registered holder as the
      absolute owner of this Warrant Certificate (notwithstanding any notation of
      ownership or other writing hereon made by anyone), for the purpose of any
      exercise hereof, of any distribution to the registered holder, and for all
      other
      purposes, and neither the Company nor the Warrant Agent shall be affected by
      any
      notice to the contrary.

     

    This
      Warrant does not entitle the registered holder to any of the rights of a
      stockholder of the Company.

     

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

    
      
        
        

      

      
        A-3-2

        
          

        

      

      
        
        

      

    

     

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

     

    
      	
              SPRING
                CREEK ACQUISITION CORP.

               

            
	
              By:

            	
               

            
	 	
              Title:

            

    

     

    [SEAL]

     

    
      	
              Attest:

            	
               

            
	 	
              Secretary

            

    

     

    DATED:

     

    Countersigned:

     

    
      	
              AMERICAN
                STOCK TRANSFER &
TRUST COMPANY, as Warrant Agent

               

            
	
              By:

            	
               

            
	 	
              Authorized
                Signatory

            

      
        
          
          

        

        
          A-3-3

          
            

          

        

        
          
          

        

      

    

     

    [FORM
      OF
      REVERSE OF WARRANT CERTIFICATE FOR REPRESENTATIVE WARRANT]

     

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

     

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

     

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

    
      
        
        

      

      
        A-3-4

        
          

        

      

      
        
        

      

    

     

    SUBSCRIPTION
      FORM

    To
      Be
      Executed by the Registered Holder in Order to Exercise Warrants

     

    The
      undersigned Registered Holder irrevocably elects to exercise ______________
      Warrants represented by this Warrant Certificate, and to purchase the Ordinary
      Shares issuable upon the exercise of such Warrants, and requests that
      Certificates for such shares shall be issued in the name of

     

    
      	 
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 
	 
	
              and,
                if such number of Warrants shall not be all the Warrants evidenced
                by this
                Warrant Certificate, that a new Warrant Certificate for the balance
                of
                such Warrants be registered in the name of, and delivered to, the
                Registered Holder at the address stated below:

               

            
	
              Dated:

            	                                                
              	 
	 	 	
              (SIGNATURE)

            
	 	 	 
	 	 	
              (ADDRESS)

            
	 	 	 
	 	 	 
	 	 	
              (TAX
                IDENTIFICATION NUMBER)

            

    

    
      
        
        

      

      
        A-3-5

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT

     

    To
      Be
      Executed by the Registered Holder in Order to Assign Warrants

    
      	
               

              For
                Value Received, 

            	 	
               

               hereby
                sell, assign, and transfer unto

            
	 
	
              (PLEASE
                TYPE OR PRINT NAME AND ADDRESS)

            
	 
	 
	 
	
              (SOCIAL
                SECURITY OR TAX IDENTIFICATION NUMBER)

            
	
               

              and
                be delivered to

            	 
	 	
              (PLEASE
                PRINT OR TYPE NAME AND ADDRESS)

            
	 	
               

               of
                the Warrants represented by this Warrant Certificate, and
                hereby

            
	
              irrevocably
                constitute and appoint 

            	 
	
              Attorney
                to transfer this Warrant Certificate on the books of the Company,
                with
                full power of substitution in the premises.

               

            
	
              Dated:

            	                                                   
              	 
	 	 	
              (SIGNATURE)

            

    

     

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

    
      
        
        

      

      
        A-3-6

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