Document:

DISTRIBUTION AGREEMENT

         Agreement made this 14th day of December, 2004, by and between
       Creative Enterprises International, Inc., a Nevada corporation with
       offices at 825 Lafayette Road, Bryn Mawr, PA 19010 (hereinafter the
        "SUPPLIER") and Big Geyser, Inc. a Delaware corporation with its
      principal place of business at 57-65 48th Street, Maspeth, New York,
                11378 (hereinafter the "DISTRIBUTOR"). RECITALS

     WHEREAS, the SUPPLIER is engaged in the business of producing, distributing
and promoting the sale of beverages under trademarks owned or licensed by the
SUPPLIER; and

     WHEREAS, the SUPPLIER is in the business of establishing and maintaining a
network for the effective distribution of its beverages; and

     WHEREAS, the DISTRIBUTOR wishes to market and sell the SUPPLIER'S
beverages; and

     WHEREAS, the SUPPLIER is willing to grant the DISTRIBUTOR the opportunity
to market and sell the SUPPLIER'S beverages.

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

     1. TERRITORY. The SUPPLIER hereby grants to the DISTRIBUTOR (i) the sole,
exclusive, nontransferable, and non-assignable right to market and sell within
the territory described in Schedule A hereto (the "Territory") to all sales
channels, all beverages sold under the trademarks listed in Schedule B
(hereinafter referred to as the "Products") and (ii) a royalty free,
non-exclusive, nontransferable right to use the trademarks listed on Schedule B
(the "Trademarks")

CERTAIN INFORMATION HAS BEEN OMITTED FROM THIS EXHIBIT, AS INDICATED BY THE
NOTATION "****", PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION. REDACTED PORTIONS OF THIS EXHIBIT HAVE
BEEN FILED SEPARATELY WITH THE COMMISSION.

in connection with its performance hereunder. However, all sales channels that
do not accept direct store delivery (DSD) from any manufacturer will be excluded
from DISTRIBUTOR'S exclusivity and SUPPLIER will be able to sell directly with
those sales channels. An invasion fee [****] per case will be charged to
SUPPLIER by DISTRIBUTOR if SUPPLIER breaches this clause of the agreement.

                                                                 INITIALS /s/ LH
                                                                          ------

     2. TERM. This Agreement shall become effective on the date it is signed by
both parties hereto and shall remain in effect for a term of five (5) years.
Thereafter, the Agreement shall be automatically renewable for successive terms
of five (5) years unless either of the parties hereto notifies the other in
writing and not less than ninety (90) days prior to such expiration of its
intent not to renew. In the event that SUPPLIER elects not to renew the
Agreement beyond any expiration date, SUPPLIER will pay to DISTRIBUTOR as a Buy
Out Termination Payment as follows:

     (a). The termination payment shall be equal to the difference between
[****] multiplied by the total of the previous [****] depletions to the month
ending prior to date of termination. The calculation shall be made using the
SUPPLIER and DISTRIBUTOR prices [****]

     (b). SUPPLIER shall be obligated to repurchase from DISTRIBUTOR all
existing inventory at [****] handling fee per case which has not been sold prior
to the effective date

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

of termination.

     (c). All payments hereunder shall be made by SUPPLIER to DISTRIBUTOR in
cash within ten (10) days of the effective date of termination.

     (d). After the first year of sales DISTRIBUTOR AND SUPPLIER will
mutually agree on a yearly performance level that both parties agree to.

INITIALS /s/ LH
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     3. PRICE. The SUPPLIER shall sell Product to the DISTRIBUTOR with prices
delivered at Maspeth, New York. SUPPLIER prices [****] any direct store
delivery (DSD) relationships that SUPPLIER may enter into to sell its products.
The SUPPLIER shall have the right to change prices at any time upon [****] days
advance written notice to the DISTRIBUTOR, with such price changes becoming
effective with orders received after the expiration of the [****] day notice
period.

     4. PAYMENT TERMS. The DISTRIBUTOR shall pay for Product within thirty (30)
days of the date of receipt of SUPPLIER'S invoice. SUPPLIER agrees that the
terms for payment of product shall be 2%-10 days net 30 days, SUPPLIER agrees to
[****] of any introductory (first 60 days) promotional programs and samples for
the introduction of any Product. The sharing and payment of subsequent expenses
for promotional programs and samples shall be made pursuant to the terms and
conditions of

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

Schedule C annexed hereto.

     5. ORDERS. The SUPPLIER agrees to use its best effort, but makes no
warranties or guaranties as to the promptness of delivery, to fill promptly the
orders sent to the SUPPLIER by the DISTRIBUTOR. During busy times of the year
when Products may not be available for immediate shipment, or when force majeure
conditions exists, the SUPPLIER shall have the right to allocate deliveries at a
level consistent with the prior course of dealing among the SUPPLIER and all of
its licensees; and in such an event, any sales objectives for DISTRIBUTOR will
be adjusted accordingly.

INITIALS /s/ LH
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     6. COVENANTS OF THE DISTRIBUTOR. The DISTRIBUTOR agrees that the following
covenants are material obligations of the DISTRIBUTOR:

          (a). The DISTRIBUTOR shall maintain an inventory of the Products at
all times adequate to satisfy the anticipated demand for the Product.

          (b). The DISTRIBUTOR agrees to carry and sell a representative portion
of the Products offered to DISTRIBUTOR by the SUPPLIER in Schedule B, which
Schedule B must be amended by the SUPPLIER from time to time to include any new
products accepted by DISTRIBUTOR.

          (c). DISTRIBUTOR shall maintain complete records showing sales of
Products. Within fifteen (15) days of the last day of each month, DISTRIBUTOR
shall make available to SUPPLIER sales data for the prior month.

          (d). The DISTRIBUTOR acknowledges that it can cause irreparable and
incalculable harm to the SUPPLIER by shipping Products outside of the Territory
and the DISTRIBUTOR shall not ship Product either directly or indirectly outside
of the Territory granted to it under this Agreement. The DISTRIBUTOR agrees to
abide by standard transshipment policies as SUPPLIER may adopt from time to
time. Such policies may include, without limitation, the assessment of costs and
penalties to the DISTRIBUTOR related to such policies or termination of the
Agreement. If the SUPPLIER is provided with information regarding transshipping
by third parties in DISTRIBUTOR'S territory, the SUPPLIER will seek to identify
the culpable party, and if found, seek to recover damages and, if damages are
recovered, direct payment of same to DISTRIBUTOR.

INITIALS /s/ LH
         ------

     7. TRANSFER OF LICENSE. The license granted hereunder by the SUPPLIER is
based on the SUPPLIER'S careful investigation of DISTRIBUTOR'S financial
condition and the skill and knowledge of DISTRIBUTOR'S personnel in its business
of distributing and selling Products with the Territory. The grant of the
license hereunder is unique to DISTRIBUTOR, and may not be transferred, or in
effect transferred, in whole or in part, whether by an independent agreement,
acquisition by another party of DISTRIBUTOR'S capital stock or assets, a
transaction resulting in a change in the

ownership or control of DISTRIBUTOR, or otherwise, unless prior to such transfer
the SUPPLIER has expressly consented in writing thereto. Notwithstanding the
foregoing, the ownership or control of DISTRIBUTOR may be transferred without
prior notice to members of the immediate family of Irving Hershkowitz, even if
Irving Hershkowitz ceases to operate as the full time primary executive of
DISTRIBUTOR.

     8. TERMINATION BY SUPPLIER.

          (a). This Agreement may be terminated by the SUPPLIER immediately upon
written notice upon the occurrence of any of the following events:

               (i). Dissolution or liquidation of the DISTRIBUTOR'S business, an
assignment or attempted assignment by the DISTRIBUTOR for the benefit of
creditors, the filing of a voluntary or involuntary petition for bankruptcy by
or against DISTRIBUTOR, or the insolvency of DISTRIBUTOR.

INITIALS /s/ LH
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               (ii). Fraud or willful misconduct of DISTRIBUTOR.

               (iii). Transfer of the license in violation of Section 7 hereof.

          (b). In the event of the DISTRIBUTOR'S failure to comply with any of
its other obligations under this Agreement.

the SUPPLIER may issue a thirty (30) day Notice of Termination to DISTRIBUTOR,
in writing, which notice shall allow to DISTRIBUTOR an opportunity to fully cure
the deficiency and comply with the obligation cited in said notice without
penalty, DISTRIBUTOR must so cure the deficiency within thirty (30) days of
receipt of the date of said notice or the termination shall be effective upon
the expiration of said thirty (30) day period.

     (c). In the event of the DISTRIBUTOR'S failure to make any monetary payment
hereunder in accordance with the SUPPLIER'S payment requirements, the SUPPLIER
may issue a thirty (30) day Notice of Termination to DISTRIBUTOR, in writing,
which notice shall allow an opportunity to cure the deficiency and comply with
the payment obligations hereunder with in thirty (30) days of the date of
receipt of said notice. DISTRIBUTOR must cure within said thirty (30) days or
the termination shall be effective upon the expiration of said thirty (30) day
period.

INITIALS /s/ LH
         ------

     9. TERMINATION BY DISTRIBUTOR.

          (a). This Agreement may be terminated by the DISTRIBUTOR immediately
upon written notice upon the occurrence of any of the following events:

               (i). Dissolution or liquidation of the SUPPLIER'S business, an
assignment or attempted assignment by the SUPPLIER for the benefit of creditors,
the filing of a voluntary or involuntary petition for bankruptcy by or against

SUPPLIER, or the insolvency of SUPPLIER.

               (ii). Fraud or willful misconduct of SUPPLIER.

               (iii). Failure to pay sums due the DISTRIBUTOR for promotional
activities, samples, or any other reason, within thirty (30) days of properly
documented requests for payment and within ten (10) days after written notice to
cure. In this event DISTRIBUTOR shall have the right to offset amounts due to
it, in payments to SUPPLIER,

               (iv). Elimination of products from Territory.

               (v). Sale or other transactions in the products directly or
through another distributor to the distribution channels to which DISTRIBUTOR
has been granted exclusivity, with the exception of those accounts specifically
excluded from the Agreement, specifically all sales channels that do not accept
direct stores deliveries(DSD).

               (vi). Failure to process and ship DISTRIBUTOR orders if
DISTRIBUTOR is not in default of its monetary obligations.

                                                                  INTIALS /s/ LH
                                                                          ------

               (vii). [****] to DISTRIBUTOR, without [****] to other
Distributors, unless mutually agreed to between the parties.

          (b). In the event of SUPPLIER'S default, it shall be considered
termination without cause and cause buy out termination payment to DISTRIBUTOR,
as described in paragraph

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

2(a).

     10. TERMINATION RIGHTS

          (a). In the event of termination, regardless of the reason,
DISTRIBUTOR will immediately cease the sale of the Products effective the
termination date. The SUPPLIER shall repurchase from the DISTRIBUTOR all of the
DISTRIBUTOR'S inventory of product at the DISTRIBUTOR'S [****] handling fee per
case, within thirty (30) days of the effective date of termination. SUPPLIER may
not appoint any new DISTRIBUTOR until the termination date.

          (b). Subject to the terms in this Agreement, the SUPPLIER may have the
right to set off and apply any and all amounts owned to it by DISTRIBUTOR, which
are not disputed by DISTRIBUTOR, against any of the SUPPLIER'S obligations to
DISTRIBUTOR upon termination or expiration of this Agreement.

                                                                 INITIALS /s/ LH
                                                                          ------

     11. TRADEMARK. The DISTRIBUTOR shall use the Trademarks in marketing,
advertising and promoting the sale of the Products only in accordance with the
policies of the SUPPLIER regarding the use of Trademarks. Any use by DISTRIBUTOR
of advertising, sales or promotional materials shall be subject to the
SUPPLIER'S prior approval. The right to use the Trademarks shall cease and
terminate upon the effective date of termination

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

of this Agreement. The Trademarks shall remain the sole and exclusive property
of the SUPPLIER. DISTRIBUTOR acknowledges that nothing contained shall give
DISTRIBUTOR any right or interest in any other Trademarks or any trademark,
tradename, sign, symbol, emblem, device, trade style or slogan used by or at the
direction of the SUPPLIER upon or in relation to the Products. DISTRIBUTOR
covenants not to do or permit to be done any act calculated to prejudice,
affect, impair or destroy the title and/or interest of the SUPPLIER in and to
the Trademarks. If it shall come to the attention of DISTRIBUTOR that any
person, firm or corporation is infringing any Trademark, DISTRIBUTOR will
promptly notify the SUPPLIER and cooperate fully with the SUPPLIER in the
defense and protection of the Trademarks. All use of the Trademarks by
DISTRIBUTOR under this Agreement shall inure to the exclusive benefit of the
SUPPLIER.

     In the event that any action, suit or proceeding is commenced against
DISTRIBUTOR concerning DISTRIBUTOR'S use of the Trademarks, DISTRIBUTOR shall
promptly give notice thereof to the SUPPLIER.

                                                                 INITIALS /s/ LH
                                                                          ------

The SUPPLIER agrees to indemnify and hold DISTRIBUTOR harmless from and against
any and all liability and legal costs (including reasonable attorneys' fees)
arising out of any claim or action by another party with respect to
DISTRIBUTOR'S use of

the Trademarks. DISTRIBUTOR shall not enter into any settlement of any
indemnified claim without the SUPPLIER'S consent.

     12. SUB-DISTRIBUTORS. DISTRIBUTOR may appoint sub-distributors in
furtherance of its obligations under this Agreement to service the Territory.
Notwithstanding any appointment, DISTRIBUTOR'S obligation under the terms of
this Agreement will not be thereby altered and DISTRIBUTOR shall be responsible
for the conduct of all of its sub-distributors. In the event this Agreement is
terminated, any and all sub-distributor agreements shall be automatically
terminated as to SUPPLIER'S Product only. No sub-distributor is intended as a
third-party beneficiary of this Agreement. Any agreement or arrangement between
DISTRIBUTOR and any of its sub-distributors which purports to grant to
sub-distributor(s) rights in excess of those granted by the SUPPLIER to the
DISTRIBUTOR will remain the sole responsibility of DISTRIBUTOR.

The DISTRIBUTOR shall provide to each of its sub-distributors adequate
supervision and support to promote the Products including, but not limited to,
providing information regarding new products, promotional program participation,
periodic sales meetings and point of sale materials.

INITIALS /s/ LH
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     13. TRANSHIPPING POLICY BY SUPPLIER. SUPPLIER agrees to institute a
transshipping policy which will apply to all distributors as follows:

          (a). If any Distributor is proven to sell,

distribute, or has sold or distributed SUPPLIER'S Products in any DISTRIBUTOR'S
exclusive territory, SUPPLIER, in addition to all other remedies available for
such breach, shall pay to the DISTRIBUTOR [****] per case for each case of
product sold or distributed in the Territory.

          (b). Any second occurrence, SUPPLIER shall pay [****] per case to
DISTRIBUTOR.

          (c). All subsequent occurrences shall require SUPPLIER to pay
DISTRIBUTOR [****] per case.

          (d). The above penalties shall apply to any improper distribution by
SUPPLIER or any subdivision thereof, its successors and/or assigns.

          (e). DTSTRIBUTOR agrees that it will not sell the Products directly or
indirectly to customers located outside the territory, nor to any customers
located within the territory which they have reasonable belief that they will
sell outside the territory. SUPPLIER may terminate this agreement for cause if
DISTRIBUTOR sells or distributes Products outside of the territory, and SUPPLIER
shall be free thereafter to appoint another distributor in the territory.

          (f). In addition to all other remedies available for such a breach,
DISTRIBUTOR will pay [****] per case sold for the first occurrence, [****] per
case on the second occurrence, and [****] per case on all subsequent
occurrences.

     14. GOVERNING LAW AND VENUE. The enforceability and performance of this
Agreement and any disputes between the

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

parties to this Agreement shall be governed exclusively by the procedural and
substantive laws of the State of New York which shall be the exclusive venue for
resolution of disputes hereunder.

     15. DISPUTE RESOLUTION. Any dispute between the parties to this Agreement
shall be settled by arbitration before the American Arbitration Association
("AAA") in New York, New York pursuant to the Commercial Rules of the American
Arbitration Association, and the unsuccessful party Shall be responsible for all
arbitration costs including reasonable attorneys' fees for both parties
resulting from said arbitration.

                                                                 INITIALS /s/ LH
                                                                          ------

Any arbitrator(s) selected to resolve the dispute shall be bound exclusively
by the laws of the State of New York.

     In an attempt to facilitate expedient and economical resolution of any
dispute or controversy, the SUPPLIER and DISTRIBUTOR agree to engage, in good
faith, in mediation conducted under the auspices of the AAA in New York City
prior to commencing any arbitration.

     16. ASSIGNMENT. The DISTRIBUTOR reserves the right to assign this Agreement
to a related corporation or other related business entity.

     17. INDEMNIFICATION BY THE SUPPLIER. The SUPPLIER shall indemnify and hold
the DISTRIBUTOR harmless against and from any and all claims made by third
parties against the DISTRIBUTOR

based upon, arising out of, or in any way related to: (1) the preparation,
manufacturing and bottling of the Products, (2) the storage, warehousing and
sale of the Products by the SUPPLIER, (3) the conduct of the SUPPLIER'S
business, (4) the SUPPLIER'S ownership or possession of property, (5) any
negligent act, misfeasance or nonfeasance by the SUPPLIER or any of its agents,
servants, or employees, and (6) any and all fees, coat and expenses, including
without limitation, reasonable attorneys' fees incurred by or on behalf of the
DISTRIBUTOR in the investigation of or defense against any and all of the
foregoing claims. The DISTRIBUTOR shall provide the SUPPLIER prompt notice of
receipt of any such claim and the DISTRIBUTOR shall not settle any such claim
without the SUPPLIER'S prior knowledge and consent.

                                                                 INITIALS /s/ LH
                                                                          ------

     18. INDEMNIFICATION BY DISTRIBUTOR. The DISTRIBUTOR shall indemnify and
hold the SUPPLIER harmless against and from any and all claims made by third
parties against the SUPPLIER based upon, arising out of, or in any way related
to: (1) the storage, warehousing and sale of the Products by the DISTRIBUTOR,
(2) the conduct of the DISTRIBUTOR'S business, (3) the DISTRIBUTOR'S ownership
or possession of property, (4) any negligent act, misfeasance or nonfeasance by
the DISTRIBUTOR or any of its agents, servants, or employees, and (5) any and
all fees, cost and expenses, including without limitation, reasonable attorneys'
fees incurred by or on behalf of the SUPPLIER in the

investigation of or defense against any and all of the foregoing claims.
However, upon notice to the SUPPLIER that the DISTRIBUTOR has assumed the
defense of any legal action or proceeding, the DISTRIBUTOR shall not be liable
to the SUPPLIER for any legal or other expenses subsequently incurred by the
SUPPLIER in connection with the defense thereof. The SUPPLIER shall provide
the DISTRIBUTOR prompt notice of receipt of any such claim and the SUPPLIER
shall not settle any such claim without the DISTRIBUTOR'S prior knowledge and
consent.

     19. INSURANCE. Both parties shall maintain for the benefit of each other
comprehensive general liability insurance, including contractual liability with
respect to the indemnity obligations set forth herein. The insurance shall be
maintained with limits of not less than $2,000,000 bodily injury per occurrence
and $50,000 property damage per occurrence (or $2,000,000 combined single limit
per occurrence bodily injury and property damage).

                                                                 INITIALS /s/ LH
                                                                          ------

     Both parties agree to provide certificates of insurance to each other
within thirty (30) days of executing this Agreement. The certificates shall
provide that the insurance afforded applies as primary coverage, and that the
coverage afforded under the policy will not be canceled or changed to reduce or
restrict the coverage until after at least thirty (30) days prior written notice
has been given by one party to the other.

     20. NOTICES. All notices given by either party to the other must be in
writing and shall be effective when received, and must be transmitted by
certified mail, or overnight courier such as Federal Express. Notices to each
party shall be addressed to its principal place of business shown above or any
other address which party specifies by written notice to the other.

     21. NO AGENCY. The DISTRIBUTOR and the SUPPLIER are independent principals
and not an agent, employee, partner or joint venture of the other in the
performance of this Agreement, and neither of them nor their agents or
employees shall in any way act, or undertake to act, on behalf of, or hold
itself out as, the agent of the other party without the express written consent
of such other party.

                                                                 INITIALS /s/ LH
                                                                          ------

     22. NO FRANCHISE. DISTRIBUTOR acknowledges that it has not and will not
pay any fee to SUPPLIER, directly or indirectly, in collection with this
Agreement, or any prior agreement, and DISTRIBUTOR shall not be considered or
deemed a "franchise" of the SUPPLIER for any purpose whatsoever. This
Agreement does not contemplate and does not require DISTRIBUTOR to establish or
maintain a fixed place of business for the sale of the SUPPLIER'S Product.

     23. FORCE MAJEURE. Neither the SUPPLIER nor DISTRIBUTOR shall be liable
to the other for any failure to comply with any of the terms of this Agreement
to the extent that any such

failure is caused, directly or indirectly, by fire, strike, union disturbance,
injunction or other labor problems, war (whether or not declared), riots,
insurrection, government restrictions or other government acts, or other causes
beyond the control of or without fault on the part of either the SUPPLIER or
DISTRIBUTOR. However, DISTRIBUTOR shall continue to be obligated to pay when due
to the SUPPLIER any and all amounts which it shall have become duly obligated to
pay in accordance with the terms of this Agreement. Upon the occurrence of any
event of the type referred to in this Section, the party affected thereby shall
give prompt notice thereof to the other party, together with a description of
such event and the duration for which such party expects its ability to comply
with the provisions of this Agreement to be affected thereby.

                                                                 INITIALS /s/ LH
                                                                          ------

     24. ENTIRE AGREEMENT. This Agreement constitutes the complete and entire
agreement between the parties with respect to the subject matter thereof and
supersedes all prior or contemporaneous written or oral agreements,
representations, and understandings of or by either party with respect to such
subject matter.

     25. NO ORAL MODIFICATION. No change, supplement, modification, alteration
or amendment of this Agreement shall be binding unless set forth in writing and
signed by the parties.

     This Agreement shall not be changed, supplemented, modified, altered,
extended or amended by the course of dealing of either or both of the parties,
or by trade usage or by any other event, except as specifically set forth
herein.

     26. ENFORCEABILITY. In the event any portion of any of the provisions of
this Agreement are unenforceable or invalid, such unenforceable or invalid
portion of said provision shall be deemed severed from this Agreement and
shall not impair the enforceability of the balance of this Agreement.

                                                                 INITIALS /s/ LH
                                                                          ------

     27. NON-WAIVER. No waiver by either party at any time, or with respect to
any right, condition or requirement contained in this Agreement shall be deemed
a waiver at any other time or with respect to any other right, condition or
requirement. No conduct shall give rise to any estoppels to exercise any present
or future right to terminate this Agreement. No waiver shall be valid unless in
writing and signed by the waiving party, and the non-waiving party's obligation
with respect to future performance of all other terms, covenants and conditions
shall continue in full force and effect.

     28. CAPTIONS. The captions contained in this Agreement are inserted for the
sole purpose of convenience and do not define, describe, extend or limit the
scope or the intent of this Agreement or any terms hereof.

     29. BINDING EFFECT. This Agreement shall be legally binding on the parties
hereto and their successors and assigns.

     IN WITNESS WHEREOF, the parties have made this Agreement the day and year
first above written.

                                        SUPPLIER:

                                        BY: /s/ Illegible
                                            ------------------------------------
                                        TITLE: President
                                        DATE: 12/14/04

                                        DISTRIBUTOR: BIG GEYSER, INC.

                                        BY: /s/ Illegible
                                            ------------------------------------
                                        TITLE: COO
                                        DATE: 12/22/04

                                                                 INITIALS /s/ LH
                                                                          ------

                                   SCHEDULE A

                                    TERRITORY

MANHATTAN (NEW YORK)

BROOKLYN (KINGS)

QUEENS

STATEN ISLAND (RICHMOND)

BRONX

NASSAU

SUFFOLK

                                                                 INITIALS /s/ LH
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                                   SCHEDULE B

                        TRADEMARKS AND SCHEDULE OF PRICES

JANA NATURAL EUROPEAN ARTESIAN WATER

[****]  [****] per case (24 bottles per case)

[****]  [****] per case (12 bottles per case)

[****]  [****] per case (12 bottles per case)

JANA SKINNY WATER

[****]  [****] per case (24 bottles per case)

[****]  [****] per case (12 bottles per case)

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

SCHEDULE C

            PROMOTIONS, POINT OF SALE MATERIALS, SAMPLES AND SERVICES

     After any initial sixty (60) day introductory period, SUPPLIER will [****]
all Product samples used BY DISTRIBUTOR in the Territory, at DISTRIBUTOR'S
[****] SUPPLIER shall [****] of Discount and Incentive programs [****]. SUPPLIER
will [****] of all promotional merchandise including wearables, such items to be
valued at SUPPLIER'S actual costs.

     All paper point-of-sale and promotional materials produced by SUPPLIER
shall be made available to DISTRIBUTOR at [****].

     SUPPLIER'S marketing activity, which includes incentive programs, local
event participation, promotional merchandise, samples, advertising or special
promotional programs, will be the subject of separate agreements between
SUPPLIER and DISTRIBUTOR made from time to time. 5 Grand prizes will be
offered every 6 months to the top selling salespeople. Prizes will include
[****] other merchandise

     DISTRIBUTOR shall provide no less a service to its customers who purchase
the Products than it does for other products which it sells and shall maintain
an appropriate sales force, delivery system and take other appropriate measures
to increase sales and distribution of the Products in the Territory.

     Reimbursement by SUPPLIER for agreed promotional expenses will be made
within thirty (30) days from receipt of properly documented requests for payment
from DISTRIBUTOR. Failure to pay within these terms will constitute a breach of
this Agreement.

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

                                                                 INITIALS /s/ LH
                                                                          ------

                                   SCHEDULE D

                  OTHER COMMITMENTS BY DISTRIBUTOR AND SUPPLIER

     1. COLD DRINK EQUIPMENT COMMITMENT - In the event SUPPLIER a purchases any
refrigeration equipment for promotional purposes, said equipment shall become
and remain the sole property of the SUPPLIER.

     2. PROMOTION - Promotional allowance, by SUPPLIER, for local promotions
must be at least buy [****] free case over a period defined by SUPPLIER.
SUPPLIER will co-op all local promotions.

     3. PALLETS- Either at no charge or with return policy.

     4. BREAKAGE ALLOWANCE - An allowance of [****] per trailer will be given to
SUPPLIER to offset small individual claims for routine breakage and damage to
Products. Unsaleable products received from SUPPLIER may be returned to SUPPLIER
for credit.

     5. MANPOWER - SUPPLIER agrees to maintain, in DISTRIBUTOR'S territory, at
least [****] ____ ____ full-time sales persons to assist in the sale of the
products.

     6. SUPPLIER will implement a [****] program that will provide [****]
Creative Enterprises International (CEII) [****] per each case sold, excluding
any and all free promotional cases to all drivers/salespersons. An additional
bonus [****] CEII will be provided to each area manager for each paid case sold
within their respective territories.

[*Certain information on this page has been omitted and filed separately with
the Commission. Confidential treatment has been requested with respect to the
omitted portions.]

                                   SCHEDULE E

                            MANUFACTURER ENDORSEMENT

[JAMNICA LOGO]
_________

To whom it may concern,

Jamnica d.d recognizes the contract between Creative Enterprises International
Inc. and Big Geyser Inc. and that all terms of the agreement between Creative
Enterprises International Inc. and Jamnica d.d will apply to the agreement
between Creative Enterprises International Inc. and Big Geyser.

If Jamnica d.d terminates its agreement with Creative Enterprises International
Inc. for any reason, Jamnica d.d will honor the exclusivity for the parts of the
New York Territory for the ____ of Jamnica product under the terms and
conditions that will be separately agreed between Jamnica d.d and Big Geyser.

                                                           /s/ Illegible
                                                           ---------------------

Ivica Sertic CEO

________________________________________

________________________________________________________________________________
________________________________________________________________________________

_________   _________   _________   _________   _________  _________  _________
_________   _________   _________   _________   _________  _________  _________
_________   _________   _________   _________   _________  _________  _________WARRANT AGREEMENT

         Agreement made as of _____________, 2006 between Jaguar Acquisition
Corporation, a Delaware corporation, with offices at 1200 River Road, Suite
1302, Conshohocken, Pennsylvania 19428 ("Company"), and Continental Stock
Transfer & Trust Company, a New York corporation, with offices at 17 Battery
Place, New York, New York 10004 ("Warrant Agent").

         WHEREAS, the Company has received binding commitments from certain of
the Company's initial stockholders and/or their affiliates (collectively,
"Insiders") to purchase an aggregate of 116,667 units ("Units"), pursuant to
which 233,334 warrants ("Insider Warrants") will be issued; and

         WHEREAS, the Company is engaged in a public offering ("Public
Offering") of Units and, in connection therewith, has determined to issue and
deliver up to (i) 9,200,000 Warrants ("Public Warrants") to the public
investors, and (ii) 800,000 Warrants to EarlyBirdCapital, Inc. ("EBC") or its
designees ("Representative's Warrants" and, together with the Public Warrants
and Insider Warrants, the "Warrants"), each of such Warrants evidencing the
right of the holder thereof to purchase one share of the Company's common stock,
par value $.0001 per share ("Common Stock"), for $5.00, subject to adjustment as
described herein; and

         WHEREAS, the Company has filed with the Securities and Exchange
Commission a Registration Statement on Form S-1, No. 333-127135 ("Registration
Statement"), for the registration, under the Securities Act of 1933, as amended
("Act") of, among other securities, the Warrants and the Common Stock issuable
upon exercise of the 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 and exercise 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,
shall be in substantially the form of Exhibit A 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 President and 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

     2.4. Detachability of Warrants. The securities comprising the Units will
not be separately transferable until 90 days after the date hereof unless EBC
informs the Company of its decision to allow earlier separate trading, but in no
event will EBC allow separate trading of the securities comprising the Units
until (i) the Company files a Current Report on Form 8-K which includes an
audited balance sheet reflecting the receipt by the Company of the gross
proceeds of the Public Offering including the proceeds received by the Company
from the exercise of the Underwriter's over-allotment option, if the
over-allotment option is exercised prior to the filing of the Form 8-K and (ii)
at least 60 days have passed since the distribution of the Units in the Public
Offering has been completed.

     2.5 Warrant Attributes. The Insider Warrants and Representative's Warrants
shall have the same terms and be in the same form as the Public Warrants.

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
Public Warrant and of this Warrant Agreement, to purchase from the Company the
number of shares of Common Stock stated therein, at the price of $5.00 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 per share at which Common Stock 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.

     3.2. Duration of Warrants. A Warrant may be exercised only during the
period ("Exercise Period") commencing on the later of (i) the consummation by
the 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) and (ii) __________, 2007, and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i)
___________, 2010 or (ii) the date fixed for redemption of the Warrants as
provided in Section 6 of this Agreement ("Expiration Date"). Except with respect
to the right to receive the Redemption Price (as set forth in Section 6
hereunder), each Warrant not exercised on or before the Expiration Date shall
become void, and all rights thereunder and all rights in respect thereof under
this Agreement shall cease at the close of business on the Expiration Date. The

                                        3

Company in its sole discretion may extend the duration of the Warrants by
delaying the Expiration Date.

     3.3. Exercise of Warrants.

          3.3.1. Payment. Subject to the provisions of the Warrant 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 at the office of its successor as Warrant Agent, in the
Borough of Manhattan, City and State of New York, with the subscription form, as
set forth in the Warrant, duly executed, and by paying in full, in lawful money
of the United States, in cash, good certified check or good bank draft payable
to the order of the Company (or as otherwise agreed to by the Company), the
Warrant Price for each full share of Common Stock as to which the Warrant is
exercised and any and all applicable taxes due in connection with the exercise
of the Warrant, the exchange of the Warrant for the Common Stock, and the
issuance of the Common Stock; provided, however, that (i) with respect to any
Warrants purchased by certain of the Company's initial stockholders following
separate trading of the Warrants included in the Company's Units pursuant to
agreements between such individuals and EBC, in the event of redemption pursuant
to Section 6 hereof, such stockholders may pay the Warrant Price by surrendering
his or her Warrant for that number of shares of Common Stock equal to the
quotient obtained by dividing (a) the product of the number of shares of Common
Stock underlying the Warrant, multiplied by the difference between the Warrant
Price and the "Fair Market Value" (the average reported last sale price of the
Common Stock for the 10 trading days ending on the 3rd trading day prior to the
date on which the notice of redemption is sent to holders of Warrant pursuant to
Section 6 hereof) by (b) the Fair Market Value; and (ii) with respect to any
Insider Warrants purchased by the Insiders, so long as such Insider Warrants are
held by the Insiders or their affiliates, such holders may pay the Warrant Price
by surrendering the Insider Warrants for that number of shares of Common Stock
equal to the quotient obtained by dividing (c) the product of the number of
shares of Common Stock underlying the Warrant, multiplied by the difference
between the Warrant Price and the "Fair Market Value" (the average last sales
price of the Common Stock in the principal trading market for the Common Stock
as reported by any national securities exchange or quoted on the NASD OTC
Bulletin Board (or successor exchange), as the case may be, for the five trading
days ending on the trading day preceding the date the Insider Warrants are
exercised) by (d) the Fair Market Value.

          3.3.2. Issuance of Certificates. As soon as practicable after the
exercise of any Warrant and the clearance of the funds in payment of the Warrant
Price, the Company shall issue to the registered holder of such Warrant a
certificate or certificates for the number of full shares of Common Stock to
which he 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
a registration statement under the Act with respect to the Common Stock is
effective. Warrants may not be exercised by, or securities issued to, any
registered holder in any state in which such exercise would be unlawful.

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

                                        4

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

          3.3.5. Intentionally Omitted.

4. Adjustments.

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

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

          4.3 Adjustments in Exercise Price. Whenever the number of shares of
     Common Stock purchasable upon the exercise of the Warrants is adjusted, as
     provided in Section 4.1 and 4.2 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 shares of Common Stock purchasable upon the exercise of the
     Warrants immediately prior to such adjustment, and (y) the denominator of
     which shall be the number of shares of Common Stock so purchasable
     immediately thereafter.

                                        5

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

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

     4.6. 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 the number of the
shares of Common Stock to be issued to the Warrant holder.

                                        6

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

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 instructions for
transfer. Upon any such transfer, a new Warrant representing an equal aggregate
number of Warrants shall be issued and the old Warrant shall be cancelled by the
Warrant Agent. The Warrants so cancelled shall be delivered by the Warrant Agent
to the Company from time to time upon request.

     5.2. 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.

     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

                                        7

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, at any time
after they become exercisable and prior to their expiration, at the office of
the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$.01 per Warrant ("Redemption Price"), provided that the last sales price of the
Common Stock has been at least $8.50 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. The provisions of this
Section 6.1 may not be modified, amended or deleted without the prior written
consent of EBC.

     6.2. Date Fixed for, and Notice of, Redemption. In the event the Company
shall elect to redeem all of the Warrants, the Company shall fix a date for the
redemption. Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than 30 days prior to the date fixed for
redemption to the registered holders of the Warrants to be redeemed at their
last addresses as they shall appear on the registration books. 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,
for cash (or on a "cashless basis" in accordance with Section 3.3.1 of this
Agreement) at any time after notice of redemption shall have been given by the
Company pursuant to Section 6.2 hereof and prior to the time and date fixed for
redemption. On and after the redemption date, the record holder of the Warrants
shall have no further rights except to receive, upon surrender of the Warrants,
the Redemption Price.

     6.4 Outstanding Warrants Only. The Company understands 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 is met. The provisions of this Section
6.4 may not be modified, amended or deleted without the prior written consent of
EBC.

                                        8

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

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

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

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

     7.4. Registration of Common Stock. The Company agrees that prior to the
commencement of the Exercise Period, it shall file with the Securities and
Exchange Commission a post-effective amendment to the Registration Statement, or
a new registration statement, for the registration, under the Act, of, 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 Common Stock
issuable upon exercise of the Warrants. In either case, the Company will use its
best efforts to cause the same to become effective and to maintain the
effectiveness of such registration statement until the expiration of the
Warrants in accordance with the provisions of this Agreement. The provisions of
this Section 7.4 may not be modified, amended or deleted without the prior
written consent of EBC.

                                        9

8. Concerning the Warrant Agent and Other Matters.

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

     8.2. Resignation, Consolidation, or Merger of Warrant Agent.

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

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

                                       10

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

     8.3. Fees and Expenses of Warrant Agent.

          8.3.1. Remuneration. The Company agrees to pay the Warrant Agent
reasonable remuneration for its services as such Warrant Agent hereunder 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 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
President or Chairman of the Board of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or
suffered in good faith by it pursuant to the provisions of this Agreement.

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

                                       11

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

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

     9. Miscellaneous Provisions.

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

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

                           Jaguar Acquisition Corporation
                           1200 River Road, Suite 1302
                           Conshohocken, Pennsylvania 19428
                           Attn: Chairman

Any notice, statement or demand authorized by this Agreement to be given or made
by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given when so delivered if by hand or overnight delivery or if
sent by certified mail or private courier service within five days after deposit

                                       12

of such notice, postage prepaid, addressed (until another address is filed in
writing by the Warrant Agent with the Company), as follows:

                           Continental Stock Transfer & Trust Company
                           17 Battery Place
                            New York, New York 10004
                           Attn: Compliance Department

with a copy in each case to:

                             Greenburg Traurig, LLP
                           Met Life Building
                           200 Park Avenue
                            New York, New York 10166
                            Attn: Alan I. Annex, Esq.

and

                           Graubard Miller
                              The Chrysler Building
                              405 Lexington Avenue
                            New York, New York 10174
                          Attn: David Alan Miller, Esq.

and

                             EarlyBirdCapital, Inc.
                           275 Madison Avenue, Suite 1203
                            New York, New York 10016
                               Attn: Steven Levine

     9.3. Applicable law. The validity, interpretation, and performance of this
Agreement and of the Warrants shall be governed in all respects by the laws of
the State of New York, without giving effect to conflicts of law principles that
would result in the application of the substantive laws of another jurisdiction.
The Company hereby agrees that any action, proceeding or claim against it
arising out of or relating in any way to this Agreement shall be brought and
enforced in the courts of the State of New York or the United States District
Court for the Southern District of New York, and 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
inconvenience 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

                                       13

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 Agreement. Nothing in this Agreement
expressed and nothing that may be implied from any of the provisions hereof is
intended, or shall be construed, to confer upon, or give to, any person or
corporation other than the parties hereto and the registered holders of the
Warrants and, for the purposes of Sections 6.1, 6.4, 7.4 and 9.2 hereof, EBC,
any right, remedy, or claim under or by reason of this Warrant Agreement or of
any covenant, condition, stipulation, promise, or agreement hereof. EBC shall be
deemed to be a third-party beneficiary of this Agreement with respect to
Sections 6.1, 6.4, 7.4 and 9.2 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 EBC with respect to the
Sections 6.1, 6.4, 7.4 and 9.2 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 Agreement shall
be available at all reasonable times at the office of the Warrant Agent in the
Borough of Manhattan, City and State of New York, for inspection by the
registered holder of any Warrant. The Warrant Agent may require any such holder
to submit his Warrant for inspection by it.

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

     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.

                                       14

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

                         JAGUAR ACQUISITION CORPORATION

                         By:
                             ------------------------------
                              Name: Jonathan Kalman
                             Title: Chairman and Chief Executive Officer

                           CONTINENTAL STOCK TRANSFER
                           & TRUST COMPANY

                         By:
                             -------------------------------
                               Name: Steven Nelson
                                 Title: Chairman

                                       15

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