Document:

WARRANT
AGREEMENT

    

    between

    

    RLJ
ACQUISITION, INC.

    

    and

    

    CONTINENTAL
STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

    

    Dated as
of                     ,
2011

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    THIS
WARRANT AGREEMENT (this “Agreement”),
dated as of                     ,
2011, is by and between RLJ Acquisition, Inc., a Nevada corporation (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation, as
Warrant Agent (the “Warrant
Agent”).

    

              WHEREAS,
the Company has entered into that certain Subscription Agreement, dated as of
December 2, 2010 (the “Sponsor Warrants
Purchase Agreement”), with RLJ SPAC Acquisition, LLC, a Delaware limited
liability company (the “Sponsor”),
an entity controlled by Robert L. Johnson, the Company’s Chairman of the Board
of Directors (the “Founder”),
pursuant to which the Sponsor will purchase an aggregate of 6,166,667 Warrants
bearing the legend set forth in Exhibit B hereto
(the “Sponsor
Warrants”) at a purchase price of $0.75 per Sponsor Warrant, to be sold
to the Sponsor simultaneously with the closing of the Offering (as defined
below); and

    

              WHEREAS,
the Company is engaged in an initial public offering (the “Offering”)
of units of the Company’s equity securities, each such unit comprised of one
share of the Common Stock (as defined below) and one Offering Warrant (as
defined below) (the “Units”)
and, in connection therewith, has determined to issue and deliver up to
12,500,000 warrants to public investors in the Offering (the “Offering
Warrants” and, together with the Sponsor Warrants, the “Warrants”),
each such Warrant evidencing the right of the holder thereof to purchase one
share of the common stock of the Company, par value $0.001 per share (the “Common
Stock”), for $12.00 per share, subject to adjustment as described herein;
and

    

              WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”)
a registration statement on Form S-1, No. 333-170947 (the “Registration
Statement”) and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities
Act”), of the Units, the Offering Warrants and the Common Stock included
in the Units; 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 and 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, President, Chief
Executive Officer, Secretary or other principal officer of the Company. 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 (the “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 is registered in the Warrant Register (the “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 (as defined below) 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 Common Stock and Offering Warrants comprising the Units
shall begin separate trading on the 52nd day following the date of the
Prospectus or, if such 52nd day is
not on a day, other than a Saturday, Sunday or federal holiday, on which banks
in New York City are generally open for normal business (a “Business
Day”), then on the immediately succeeding Business Day following such
date, or earlier (the “Detachment
Date”) with the consent of Lazard Capital Markets, LLC (“Lazard”),
as representative of the several underwriters, but in no event shall the Common
Stock and the Offering Warrants comprising the Units be separately traded until
(A) the Company has filed a current report on Form 8-K with the Commission
containing an audited balance sheet reflecting the receipt by the Company of the
gross proceeds of the Offering, including the proceeds received by the Company
from the exercise by the underwriters of their right to purchase additional
shares of the Common Stock in the Offering (the “Over-allotment
Option”), if the Over-allotment Option is exercised prior to the filing
of the Form 8-K and (y) the Company issues a press release and files with
the Commission a current report on Form 8-K announcing when such separate
trading shall begin.

    
      
         

      

      
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    2.5.        Warrant
Attributes.

    

    2.5.1.    Sponsor Warrants. The
Sponsor Warrants shall be identical to the Offering Warrants, except that so
long as they are held by the Sponsor, the Founder or any of their Permitted
Transferees (as defined below) the Sponsor Warrants: (i) may be exercised
for cash or on a cashless basis, pursuant to subsection 3.3.1(c)
hereof, (ii) may not be transferred, assigned or sold until thirty
(30) days after the completion by the Company of an initial Business
Combination (as defined below), and (iii) shall not be redeemable by the
Company; provided, however, that in the
case of (ii), the Sponsor Warrants and any shares of the Common Stock held by
the Sponsor and issued upon exercise of the Sponsor Warrants may be transferred
by the Sponsor: (a) to the Company’s officers or directors, any affiliate
or family member of any of the Company’s officers or directors or any affiliate
of the Sponsor or to any limited partner(s) of the Sponsor; (b) in the case
of the Founder, by gift to a member of the Founder’s immediate family or to a
trust, the beneficiary of which is a member of the Founder’s immediate family,
an affiliate of the Founder or to a charitable organization; (c) in the
case of the Founder, by virtue of the laws of descent and distribution upon
death of the Founder; (d) in the case of the Founder, pursuant to a
qualified domestic relations order; (e) by virtue of the laws of the state
of Delaware or the Sponsor’s limited liability agreement upon dissolution of the
Sponsor; (f) in the event of the Company’s liquidation prior to the
completion of the Company’s initial Business Combination; or (g) in the
event that the Company consummates a subsequent liquidation, merger, stock
exchange or other similar transaction that results in all of the holders of the
Company’s equity securities issued in the Offering having the right to exchange
their shares of the Common Stock for cash, securities or other property
subsequent to the consummation of the Company’s initial Business Combination;
provided, however, that, in the
case of clauses (a) through (d), these transferees (the “Permitted
Transferees”) enter into a written agreement with the Company agreeing to
be bound by the transfer restrictions in this Agreement.

    

    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 shares of the Common Stock
stated therein, at the price of $12.00 per 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 shall mean the price per
share at which shares of the 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 (as defined below) for a period of not
less than twenty (20) Business Days, provided, that the Company shall
provide at least twenty (20) days prior written notice of such reduction to
Registered Holders of the Warrants and, provided further that any such reduction
shall be identical among all of the Warrants.

    
      
         

      

      
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    3.2.        Duration of Warrants.
A Warrant may be exercised only during the period (the “Exercise
Period”) commencing on the later of: (i) the date that is thirty
(30) days after the first date on which the Company completes a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination, involving the Company and one or more businesses
(a “Business
Combination”), or (ii) the date that is twelve (12) months from
the date of the closing of the Offering, and terminating at 5:00 p.m., New York
City time on the earlier to occur of: (x) the date that is five
(5) years after the date on which the Company completes its initial
Business Combination, (y) the liquidation of the Company, or (z) other
than with respect to the Sponsor Warrants, the Redemption Date (as defined
below) as provided in Section 6.2
hereof (the “Expiration
Date”); provided, however, that the
exercise of any Warrant shall be subject to the satisfaction of any applicable
conditions, as set forth in subsection 3.3.2
below with respect to an effective registration statement. Except with respect
to the right to receive the Redemption Price (other than with respect to a
Sponsor Warrant) in the event of a redemption (as set forth in Section 6
hereof), each Warrant (other than a Sponsor Warrant in the event of a
redemption) 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 5:00 p.m. New York City time on the Expiration Date. The Company
in its sole discretion may extend the duration of the Warrants by delaying the
Expiration Date; provided, that the Company shall provide at least twenty
(20) days prior written notice of any such extension to Registered Holders
of the Warrants and, provided further that any such extension shall be identical
in duration among all the Warrants.

    

    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 the Warrant Price for each full share of the
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 shares of the Common Stock and the issuance of
such Common Stock, as follows:

    (a)           in
lawful money of the United States, in good certified check or good bank draft
payable to the order of the Company;

    

    (b)           in
the event of a redemption pursuant to Section 6 hereof
in which the Company’s board of directors (the “Board”)
has elected to require all holders of the Warrants to exercise such Warrants on
a “cashless basis,” by surrendering the Warrants for that number of shares of
the Common Stock equal to the quotient obtained by dividing (x) the product
of the number of shares of the Common Stock underlying the Warrants, multiplied
by the difference between the Warrant Price and the “Fair Market Value”, as
defined in this subsection 3.3.1(b)
by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b)
and Section 6.3, the
“Fair Market Value” shall mean the average last sale price of the Common Stock
for the ten (10) trading days ending on the third trading day prior to the date
on which the notice of redemption is sent to the holders of the Warrants,
pursuant to Section 6
hereof;

    
      
         

      

      
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    (c)           with
respect to any Sponsor Warrant, so long as such Sponsor Warrant is held by the
Sponsor or its Permitted Transferees, by surrendering the Warrants for that
number of shares of the Common Stock equal to the quotient obtained by dividing
(x) the product of the number of shares of the Common Stock underlying the
Warrants, multiplied by the difference between the Warrant Price and the “Fair
Market Value”, as defined in this subsection 3.3.1(c),
by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(c),
the “Fair Market Value” shall mean the average last sale price of the Common
Stock for the ten (10) trading days ending on the third trading day prior
to the date on which notice of exercise of the Warrant is sent to the Warrant
Agent; or

    

    (d)           as
provided in Section
7.4 hereof.

    

    3.3.2.    Issuance of Shares of Common Stock on
Exercise. As soon as practicable after the exercise of any Warrant and
the clearance of the funds in payment of the Warrant Price (if payment is
pursuant to subsection
3.3.1(a)), the Company shall issue to the Registered Holder of such
Warrant a certificate or certificates for the number of full shares of the
Common Stock 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 shares of the
Common Stock pursuant to the exercise of a Warrant and shall have no obligation
to settle such Warrant exercise unless a registration statement under the
Securities Act with respect to the shares of the Common Stock underlying the
Offering Warrants is then effective and a prospectus relating thereto is
current, subject to the Company’s satisfying its obligations under Section 7.4. No
Warrant shall be exercisable and the Company shall not be obligated to issue
shares of the Common Stock upon exercise of a Warrant unless the Common Stock
issuable upon such Warrant exercise has been registered, qualified or deemed to
be exempt under the securities laws of the state of residence of the Registered
Holder of the Warrants. In the event that the conditions in the two immediately
preceding sentence are not satisfied with respect to a Warrant, the holder of
such Warrant shall not be entitled to exercise such Warrant and such Warrant may
have no value and expire worthless. In no event shall the Company be required to
net cash settle any Warrant. In the event that a registration statement is
not effective for the exercised Offering Warrants, the purchaser of a Unit
containing such Offering Warrant shall have paid the full purchase price for the
Unit solely for the shares of the Common Stock underlying such
Unit.

    

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

    

    3.3.4.    Date of Issuance.
Each person in whose name any certificate for shares of the Common Stock is
issued shall for all purposes be deemed to have become the holder of record of
such shares of the Common Stock 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 share 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 share transfer books are
open.

    
      
         

      

      
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    3.3.5.    Maximum Percentage. A
holder of a Warrant may notify the Company in writing in the event it elects to
be subject to the provisions contained in this subsection 3.3.5;
however, no holder of a Warrant shall be subject to this subsection 3.3.5
unless he, she or it makes such election. If the election is made by a holder,
the Warrant Agent shall not effect the exercise of the holder’s Warrant, and
such holder shall not have the right to exercise such Warrant, to the extent
that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would
beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the shares of the Common Stock outstanding immediately
after giving effect to such exercise. For purposes of the foregoing sentence,
the aggregate number of shares of the Common Stock beneficially owned by such
person and its affiliates shall include the number of shares of the Common
Stock issuable upon exercise of the Warrant with respect to which the
determination of such sentence is being made, but shall exclude shares of the
Common Stock that would be issuable upon (x) exercise of the remaining,
unexercised portion of the Warrant beneficially owned by such person and its
affiliates and (y) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company beneficially owned by such person
and its affiliates (including, without limitation, any convertible notes or
convertible preferred stock or warrants) subject to a limitation on conversion
or exercise analogous to the limitation contained herein. Except as set forth in
the preceding sentence, for purposes of this paragraph,
beneficial ownership shall be calculated in accordance with Section 13(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). For purposes of the Warrant, in determining the number of
outstanding shares of the Common Stock, the holder may rely on the number of
outstanding shares of the Common Stock as reflected in (1) the Company’s
most recent Form 10-K, Form 10-Q, current report on Form 8-K or other public
filing with the Commission as the case may be, (2) a more recent public
announcement by the Company or (3) any other notice by the Company or
Continental Stock Transfer & Trust Company (the “Transfer
Agent”) setting forth the number of shares of the Common Stock
outstanding. For any reason at any time, upon the written request of the holder
of the Warrant, the Company shall, within two (2) Business Days, confirm
orally and in writing to such holder the number of shares of the Common Stock
then outstanding. In any case, the number of outstanding shares of the Common
Stock shall be determined after giving effect to the conversion or exercise of
equity securities of the Company by the holder and its affiliates since the date
as of which such number of outstanding shares of the Common Stock was reported.
By written notice to the Company, the holder of a Warrant may from time to time
increase or decrease the Maximum Percentage applicable to such holder to any
other percentage specified in such notice; provided, however, that any
such increase shall not be effective until the sixty-first (61st) day
after such notice is delivered to the Company.

    
      
         

      

      
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    4.           Adjustments.

    

    4.1.        Stock
Dividends.

    

    4.1.1.    Split-Ups. If after
the date hereof, and subject to the provisions of Section 4.6
below, the number of outstanding shares of the Common Stock is increased by a
stock dividend payable in shares of the Common Stock, or by a split-up of shares
of the 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 the Common
Stock issuable on exercise of each Warrant shall be increased in proportion to
such increase in the outstanding shares of the Common Stock. A rights offering
to holders of the Common Stock entitling holders to purchase shares of the
Common Stock at a price less than the “Fair Market Value” (as defined below)
shall be deemed a stock dividend of a number of shares of the Common Stock equal
to the product of (i) the number of shares of the Common Stock actually
sold in such rights offering (or issuable under any other equity securities sold
in such rights offering that are convertible into or exercisable for the Common
Stock) multiplied by (ii) the quotient of (x) the price per share of
the Common Stock paid in such rights offering divided by (y) the Fair
Market Value. For purposes of this subsection 4.1.1, (i) if
the rights offering is for securities convertible into or exercisable for the
Common Stock, in determining the price payable for the Common Stock, there shall
be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii) “Fair Market
Value” means the volume weighted average price of the Common Stock as reported
during the ten (10) trading day period ending on the trading day prior to
the first date on which the shares of the Common Stock trade on the applicable
exchange or in the applicable market, regular way, without the right to receive
such rights.

    

    4.1.2.    Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding
and unexpired, shall pay a dividend or make a distribution in cash, securities
or other assets to the holders of the Common Stock on account of such shares of
Common Stock (or other shares of the Company’s capital stock into which the
Warrants are convertible), other than (a) as described in subsection 4.1.1
above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy
the redemption rights of the holders of the Common Stock in connection with a
proposed initial Business Combination, (d) as a result of the repurchase of
shares of Common Stock by the Company if a proposed initial Business Combination
is presented to the stockholders of the Company for approval or (e) in
connection with the Company’s liquidation and the distribution of its assets
upon its failure to consummate a Business Combination (any such non-excluded
event being referred to herein as an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective
immediately after the effective date of such Extraordinary Dividend, by the
amount of cash and/or the fair market value (as determined by the Board, in good
faith) of any securities or other assets paid on each share of the Common Stock
in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2,
“Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when
combined on a per share of the Common Stock basis, with the per share amounts of
all other cash dividends and cash distributions paid on the Common Stock during
the 365-day period ending on the date of declaration of such dividend or
distribution (as adjusted to appropriately reflect any of the events referred to
in other subsections of this Section 4 and
excluding cash dividends or cash distributions that resulted in an adjustment to
the Warrant Price or to the number of shares of the Common Stock issuable on
exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price
of the Units in the Company’s Offering).

    
      
         

      

      
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    4.2.        Aggregation of
Shares. If after the date hereof, and subject to the provisions of Section 4.6
hereof, the number of outstanding shares of the Common Stock is decreased by a
consolidation, combination, reverse stock split or reclassification of shares of
the 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 the 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 the Common Stock purchasable upon
the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or
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 the
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 the Common Stock so purchasable immediately thereafter.

    

    4.4.        Replacement of Securities
upon Reorganization, etc. In case of any reclassification or
reorganization of the outstanding shares of the Common Stock (other than a
change under subsections 4.1.1 or
4.1.2 or Section 4.2
hereof or that solely affects the par value of such shares of the Common Stock),
or in the case of any merger or consolidation of holder of the Warrants would
have received if such holder had exercised his, her or its Warrant(s)
immediately prior to such event (the “Alternative
Issuance”); provided, however, that
(i) if the holders of the Common Stock were entitled to exercise a right of
election as to the kind or amount of securities, cash or other assets receivable
upon such consolidation or merger, then the kind and amount of securities, cash
or other assets constituting the Alternative Issuance for which each Warrant
shall become exercisable shall be deemed to be the weighted average of the kind
and amount received per share by the holders of the Common Stock in such
consolidation or merger that affirmatively make such election, and (ii) if
a tender, exchange or redemption offer shall have been made to and accepted by
the holders of the Common Stock (other than a tender, exchange or redemption
offer made by the Company in connection with redemption rights held by
stockholders of the Company as provided for in the Company’s certificate of
incorporation or as a result of the repurchase of shares of Common Stock by the
Company if a proposed initial Business Combination is presented to the
stockholders of the Company for approval) under circumstances in which, upon
completion of such tender or exchange offer, the maker thereof, together with
members of any group (within the meaning of Rule 13d-5(b)(1) under the
Exchange Act) of which such maker is a part, and together with any affiliate or
associate of such maker (within the meaning of Rule 12b-2 under the
Exchange Act) and any members of any such group of which any such affiliate or
associate is a part, own beneficially (within the meaning of Rule 13d-3
under the Exchange Act) more than 50% of the outstanding shares of the Common
Stock, the holder of a Warrant shall be entitled to receive as the Alternative
Issuance, the highest amount of cash, securities or other property to which such
holder would actually have been entitled as a stockholder if such Warrant holder
had exercised the Warrant prior to the expiration of such tender or exchange
offer, accepted such offer and all of the Common Stock held by such holder had
been purchased pursuant to such tender or exchange offer, subject to adjustments
(from and after the consummation of such tender or exchange offer) as nearly
equivalent as possible to the adjustments provided for in this Section 4; provided further,
however, that if more than 30% of the consideration receivable by the
holders of the Common Stock in the applicable event is payable in the form of
common stock in the successor entity that is not listed for trading on a
national securities exchange or on the OTC Bulletin Board, or is not to be so
listed for trading immediately following such event, then the Warrant Price
shall be reduced by an amount (in dollars) equal to the quotient of (x) $18
(subject to adjustment in accordance with 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 the 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 holders of the Warrants
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
the 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 Section 6.1
hereof) minus the Per Share Consideration (as defined below) (but in no event,
less than zero), and (y): if the applicable event is announced on or prior to
the third anniversary of the closing date of the initial Business Combination,
2; if the applicable event is announced after the third anniversary of the
closing date of the initial Business Combination and on or prior to the fourth
anniversary of the closing date of the initial Business Combination, 2.5; if the
applicable event is announced after the fourth anniversary of the closing date
of the initial Business Combination and on or prior to the Expiration Date, 3.
“Per Share
Consideration” means (i) if the consideration paid to holders of the
Common Stock consists exclusively of cash, the amount of such cash per share of
the Common Stock, and (ii) in all other cases, the volume weighted average
price of the Common Stock as reported during the ten (10) trading day
period ending on the trading day prior to the effective date of the applicable
event. If any reclassification or reorganization also results in a change in
shares of the Common Stock covered by subsection 4.1.1,
then such adjustment shall be made pursuant to subsection 4.1.1 or
Sections 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.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    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, the Company
shall give written notice of the occurrence of such event to each holder of a
Warrant, 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 the Common
Stock to be issued to such holder.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    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; provided, however, that the
Company may at any time in its sole discretion make any change in the form of
Warrant that the Company may deem appropriate and that does not affect the
substance thereof, and any Warrant thereafter issued or countersigned, whether
in exchange or substitution for an outstanding Warrant or otherwise, may be in
the form as so changed.

    

    4.8.        Other Events. In case
any event shall occur affecting the Company as to which none of the provisions
of preceding subsections of this Section 4 are
strictly applicable, but which would require an adjustment to the terms of the
Warrants in order to (i) avoid an adverse impact on the Warrants and
(ii) effectuate the intent and purpose of this Section 4, then,
in each such case, the Company shall appoint a firm of independent public
accountants, investment banking or other appraisal firm of recognized national
standing, which shall give its opinion as to whether or not any adjustment to
the rights represented by the Warrants is necessary to effectuate the intent and
purpose of this Section 4 and,
if they determine that an adjustment is necessary, the terms of such adjustment.
The Company shall adjust the terms of the Warrants in a manner that is
consistent with any adjustment recommended in such opinion.

    

    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 (as in
the case of the Sponsor Warrants), the Warrant Agent shall not cancel such
Warrant and issue new Warrants in exchange thereof 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 shall 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.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    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, shall supply the Warrant
Agent with Warrants duly executed on behalf of the Company for such
purpose.

    

    5.6.        Transfer of Warrants.
Prior to the Detachment Date, the Offering Warrants may be transferred or
exchanged only together with the Unit in which such Warrant is included, and
only for the purpose of effecting, or in conjunction with, a transfer or
exchange of such Unit. Furthermore, each transfer of a Unit on the register
relating to such Units shall operate also to transfer the Warrants included in
such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6
shall have no effect on any transfer of Warrants on and after the Detachment
Date.

    

    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 while they are exercisable and prior to their
expiration, at the office of the Warrant Agent, upon notice to the Registered
Holders of the Warrants, as described in Section 6.2
below, at the price of $0.01 per Warrant (the “Redemption
Price”), provided that the last sales price of the Common Stock reported
has been at least $17.50 per share (subject to adjustment in compliance with
Section 4
hereof), on each of any twenty (20) trading days within the thirty
(30) trading-day period ending on the third Business Day prior to the date
on which notice of the redemption is given and provided that there is an
effective registration statement covering the shares of Common Stock issuable
upon exercise of the Warrants, and a current prospectus relating thereto,
available throughout the 30-day Redemption Period (as defined in Section 6.2
below).

    

    6.2.        Date Fixed for, and
Notice of,
Redemption. In the event that the Company elects to redeem all of the
Warrants, the Company shall fix a date for the redemption (the “Redemption
Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than thirty (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 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 subsection 3.3.1(b)
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 Redemption Date. In the event that the Company
determines to require all holders of Warrants to exercise their Warrants on a
“cashless basis” pursuant to subsection 3.3.1, the
notice of redemption shall contain the information necessary to calculate the
number of shares of the Common Stock to be received upon exercise of the
Warrants, including the “Fair Market Value” (as such term is defined in subsection 3.3.1(b)
hereof) 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.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    6.4.        Exclusion of Sponsor
Warrants. The Company agrees that the redemption rights provided in this
Section 6
shall not apply to the Sponsor Warrants if at the time of the redemption such
Sponsor Warrants continue to be held by the Sponsor or its Permitted
Transferees. However, once such Sponsor Warrants are transferred (other than to
Permitted Transferees under subsection 2.5.1),
the Company may redeem the Sponsor Warrants, provided that the criteria for
redemption are met, including the opportunity of the holder of such Sponsor
Warrants to exercise the Sponsor Warrants prior to redemption pursuant to Section 6.3.
Sponsor Warrants that are transferred to persons other than Permitted
Transferees shall upon such transfer cease to be Sponsor Warrants and shall
become Offering Warrants under this Agreement.

    

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

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    7.4.        Registration of the Common
Stock. The Company agrees that as soon as practicable, but in no event
later than fifteen (15) Business Days after the closing of its initial
Business Combination, it shall use its best efforts to file with the Commission
a post-effective amendment to the Registration Statement, or a new registration
statement, for the registration, under the Securities Act, of the shares of the
Common Stock issuable upon exercise of the Warrants, and it shall use its best
efforts to take such action as is necessary to qualify for sale, in those states
in which the Warrants were initially offered by the Company, the shares of
the Common Stock issuable upon exercise of the Warrants. The Company shall
use its best efforts to cause the same to become effective and to maintain the
effectiveness of such registration statement, and a current prospectus relating
thereto, until the expiration of the Warrants in accordance with the provisions
of this Agreement. If any such post-effective amendment or registration
statement has not been declared effective by the 60th
Business Day following the closing of the Business Combination, holders of the
Warrants shall have the right, during the period beginning on the 61st
Business Day after the closing of the Business Combination and ending upon such
post-effective amendment or registration statement being declared effective by
the Commission, and during any other period when the Company shall fail to have
maintained an effective registration statement covering the shares of Common
Stock issuable upon exercise of the Warrants, to exercise such Warrants on a
“cashless basis,” by exchanging the Warrants (in accordance with
Section 3(a)(9) of the Act or another exemption) for that number of shares
of Common Stock equal to the quotient obtained by dividing (x) the product
of the number of shares of the Common Stock underlying the Warrants, multiplied
by the difference between the Warrant Price and the “Fair Market Value” (as
defined below) by (y) the Fair Market Value. Solely for purposes of this Section 7.4,
“Fair Market Value” shall mean the volume weighted average price of the Common
Stock as reported during the ten (10) trading day period ending on the
trading day prior to the date that notice of exercise is received by the Warrant
Agent from the holder of such Warrants or its securities broker or intermediary.
The date that notice of cashless exercise is received by the Warrant Agent shall
be conclusively determined by the Warrant Agent. The Company shall provide the
Warrant Agent with an opinion of counsel for the Company (which shall be an
outside law firm with securities law experience) stating that (i) the
exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is
not required to be registered under the Securities Act and (ii) the shares
of the Common Stock issued upon such exercise shall be freely tradable under
United States federal securities laws by anyone who is not an affiliate (as such
term is defined in Rule 144 under the Securities Act) of the Company and,
accordingly, shall not be required to bear a restrictive legend. For the
avoidance of any doubt, unless and until all of the Warrants have been exercised
on a cashless basis, the Company shall continue to be obligated to comply with
its registration obligations under the first three sentences of this Section 7.4. In
addition, the Company agrees to use its best efforts to register the shares of
the Common Stock issuable upon exercise of a Warrant under the blue sky laws of
the states of residence of the exercising Warrant holder to the extent an
exemption is not available.

    

    8.           Concerning the Warrant Agent
and Other Matters.

    

    8.1.        Payment of Taxes. The
Company shall 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 the Common Stock upon the exercise of the Warrants, but
the Company shall not be obligated to pay any transfer taxes in respect of the
Warrants or such shares.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    

    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 thirty (30) days after it has been
notified in writing of such resignation or incapacity by the Warrant Agent or by
the holder of a 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.

    

    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 shall, pursuant to its obligations under
this Agreement, 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.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    8.4.2.    Indemnity. The
Warrant Agent shall be liable hereunder only for its own gross 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 gross negligence, willful misconduct or bad faith.

    

    8.4.3.    Exclusions. The Warrant Agent
shall have no responsibility with respect to the validity of this Agreement or
with respect to the validity or execution of any Warrant (except its
countersignature thereof). The Warrant Agent shall not be responsible for any
breach by the Company of any covenant or condition contained in this Agreement
or in any Warrant. The Warrant Agent shall not 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 the Common
Stock to be issued pursuant to this Agreement or any Warrant or as to whether
any shares of the Common Stock shall, 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
monies received by the Warrant Agent for the purchase of shares of the Common
Stock through the exercise of the Warrants.

    

    8.6.        Waiver. The Warrant
Agent has no right of set-off or any other right, title, interest or claim of
any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain
Investment Management Trust Agreement, dated as of the date hereof, by and
between the Company and the Warrant Agent as trustee thereunder) and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any
Claim against the Trust Account for any reason whatsoever. The Warrant Agent
hereby waives any and all Claims against the Trust Account and any and all
rights to seek access to the Trust Account.

    

    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 (5) 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:

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    RLJ
Acquisition, Inc.

    3
Bethesda Metro Center, Suite 1100

    Bethesda,
Maryland 20814

    Attention:
Chief Executive Officer

    

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

    

    Continental
Stock Transfer & Trust Company

    17
Battery Place

    New York,
New York 10004

    Attention:
Compliance Department

    

    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
inconvenient forum.

    

    9.4.        Persons Having Rights under
this Agreement. Nothing in this Agreement 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 any right, remedy, or claim under or by
reason of this Warrant Agreement or of any covenant, condition, stipulation,
promise, or agreement 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 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 original or facsimile 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.

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    9.8.        Amendments. This
Agreement may be amended by the parties hereto without the consent of any
Registered Holder for the purpose of curing any ambiguity, or curing, correcting
or supplementing any defective provision contained herein or adding or changing
any other provisions with respect to matters or questions arising under this
Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the Registered Holders. All
other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period and any amendment to the terms of
only the Sponsor Warrants, shall require the written consent of the Registered
Holders of 65% of the then outstanding Offering Warrants. Further, the Sponsor
shall not vote any Warrants owned or controlled by it in favor of such amendment
unless the Registered Holders of 65% of the Offering Warrants vote in favor of
such amendment. Notwithstanding the foregoing, the Company may lower the Warrant
Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and
3.2,
respectively, without the consent of the Registered Holders.

    

    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.

    

    Exhibit A Form
of Warrant Certificate

    Exhibit B Legend
– Sponsor’s Warrants

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

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

    

    
      
        
          
            	 
      	
                    RLJ
      ACQUISITION, INC.

                  	 
      
	 
      	 
      	 
      
	 
      	
                         By:  

                  	 
      	 
      
	 
      	
                         Name:  

                  	 
      	 
      
	 
      	
                         Title:  

                  	 
      	 
      
	 
      
	 
      	
                    CONTINENTAL
      STOCK TRANSFER & 

                    TRUST
      COMPANY, as Warrant Agent

                  	 
      
	 
      	 
      	 
      
	 
      	
                         By:  

                  	 
      	 
      
	 
      	
                         Name:  

                  	 
      	 
      
	 
      	
                         Title:  

                  	 
      	 
      

          

        

      

    

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    WARRANT
CERTIFICATE

    

    [TO BE
INSERTED]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    LEGEND

    

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS, AND MAY NOT BE
OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR
AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THE SECURITIES
REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE
THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH RLJ ACQUISITION, INC.
(THE “COMPANY”) COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN
SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED
TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN
WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

    

    SECURITIES
EVIDENCED BY THIS CERTIFICATE AND SHARES OF THE COMMON STOCK OF THE COMPANY
ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS
UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE
COMPANY.

    

    
      
        	
                No.
      _________                      

              	 
      	
                         
                 
       _______________  WarrantsUnassociated Document

    
 

    ______________, 2011

    
 

    RLJ
Acquisition, Inc.

    3
Bethesda Metro Center, Suite 1100

    Bethesda,
Maryland 20814

    
 

    Lazard
Capital Markets LLC

    30
Rockefeller Plaza

    New York,
New York 10020

    Attn:
General Counsel

    

               Re:                      Initial
Public Offering

    
 

    Gentlemen:

    

    This
letter (“Letter Agreement”) is being delivered to you in accordance with the
Underwriting Agreement (the “Underwriting Agreement”) entered into by and
between RLJ Acquisition, Inc., a Nevada corporation (the “Company”), and Lazard
Capital Markets LLC, as representative of the several underwriters (the
“Underwriters”), relating to an underwritten initial public offering (the
“Offering”), of 12,500,000 of the Company’s units (the “Units”), each comprised
of one share of the Company’s common stock, par value $0.0001 per share (the
“Common Stock”), and one warrant exercisable for one share of Common Stock
(each, a “Warrant”). The Units sold in the Offering shall be quoted and traded
on the Over-the-Counter Bulletin Board pursuant to a registration statement on
Form S-1 and prospectus (the “Prospectus”) filed by the Company with the
Securities and Exchange Commission (the “Commission”). Certain capitalized terms
used herein are defined in paragraph [·] hereof.

    

    In order
to induce the Company and the Underwriters to enter into the Underwriting
Agreement and to proceed with the Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
undersigned hereby agrees with the Company as follows:

    

    1.           The
undersigned agrees that if the Company seeks stockholder approval of a proposed
Business Combination, then in connection with such proposed Business
Combination, it shall vote all Founder Shares in favor of such proposed Business
Combination.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    2.           The
undersigned hereby agrees that in the event that the Company fails to consummate
a Business Combination (as defined in the Underwriting Agreement) within 21
months from the closing of the Offering (or 27 months from the date of the
closing of the Offering if the Company executes a letter of intent, agreement in
principle or definitive agreement relating to a proposed initial Business
Combination before such 21-month period ends), he or she shall take all
reasonable steps to cause the Company to (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible, redeem 100% of
the Common Stock held by the Public Stockholders, at a per-share price, payable
in cash, equal to the aggregate amount including interest then on deposit in the
Trust Account, but net of any taxes payable (less up to $100,000 of such net
interest to pay reasonable expenses of dissolution), divided by the number of
shares of Common Stock then outstanding, together with the contingent right to
receive, in cash, following the Company’s dissolution, a pro rata share of the
balance of the Company’s net assets, if any, and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s
remaining stockholders and the Company’s board of directors, dissolve and
liquidate, subject in each case to the Company’s obligations under Nevada law to
provide for claims of creditors and other requirements of applicable
law.

    

    [Paragraph
3 to be included in Initial Stockholders’ letters only]

    

    3.
(a)     A portion of the Founder Shares held by the
undersigned in an amount equal to 2.5% of the Company’s issued and outstanding
shares immediately after the Offering (inclusive of the shares issued to the
underwriters in connection with the exercise of their over-allotment option)
shall be redeemed by the Company for cancellation, for a purchase price per
share equal to the par value thereof, in the event that the last sales price of
the Company’s stock does not equal or exceed $12.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like)
for at least one period of 20 trading days within any 30-trading day period
within twelve (12) months following the closing of the Company’s initial
Business Combination. An additional portion of the Founder Shares held by the
undersigned in an amount equal to 2.5% of the Company’s issued and outstanding
shares immediately after the Offering (inclusive of the shares issued to the
underwriters in connection with the exercise of their over-allotment option)
shall be redeemed by the Company for cancellation, for a purchase price per
share equal to the par value thereof, in the event that the last sales price of
the Company’s stock does not equal or exceed $13.00 per share (as adjusted for
stock splits, stock dividends, reorganizations, recapitalizations and the like)
for at least one period of 20 trading days within any 30-trading day period
between twelve (12) and twenty-four (24) months following the closing of the
Company’s initial Business Combination.

    

    (b)         The
undersigned acknowledges that he or she has no right, title, interest or claim
of any kind in or to any monies held in the Trust Account or any other asset of
the Company as a result of any liquidation of the Trust Account with respect to
the Founder Shares held by him or her. The undersigned hereby further waives,
with respect to any shares of the Common Stock held by him or her, any
redemption rights he or she may have in connection with the consummation of a
Business Combination, including, without limitation, any such rights available
in the context of a stockholder vote to approve such Business Combination or in
the context of a tender offer made by the Company to purchase shares of the
Common Stock (although the undersigned shall be entitled to redemption and
liquidation rights with respect to any shares of the Common Stock (other than
the Founder Shares) he or she holds if the Company fails to consummate a
Business Combination within 21 months from the date of the closing of the
Offering (or 27 months from the date of the closing of the Offering if the
Company executes a letter of intent, agreement in principle or definitive
agreement relating to a proposed initial Business Combination before such
21-month period ends)).
 

    
      
         

      

      
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    (c)        
To the extent that the Underwriters do not exercise their over-allotment option
to purchase an additional 1,875,000 shares of Common Stock (as described in the
Prospectus), the undersigned agrees that he or she shall return to the Company
for cancellation, at no cost, the number of Founder Shares held by him or her
determined by multiplying [●] by a fraction,
(i) the numerator of which is 1,875,000 minus the number of shares of the Common
Stock purchased by the Underwriters upon the exercise of their over-allotment
option, and (ii) the denominator of which is 1,875,000. The undersigned further
agrees that to the extent that (a) the size of the Offering is increased or
decreased and (b) the undersigned has either purchased or sold shares of the
Common Stock or an adjustment to the number of Founder Shares has been effected
by way of a stock split, stock dividend, reverse stock split, contribution back
to capital or otherwise, in each case in connection with such increase or
decrease in the size of the Offering, then (i) the references to 1,875,000 in
the numerator and denominator of the formula in the immediately preceding
sentence shall be changed to a number equal to 15% of the number of shares
included in the Units issued in the Offering and (ii) the reference to [●] in the formula
set forth in the immediately preceding sentence shall be adjusted to such number
of shares of the Common Stock that the undersigned would have to return to the
Company in order to hold [·]% of the Company’s issued
and outstanding shares after the Offering (assuming the Underwriters do not
exercise their over-allotment option).

    

    (d)         In
the case of any of the Founder Shares owned by the undersigned that, as of the
date of determination, are not subject to forfeiture pursuant to paragraph 3(a)
above, until (A) one year after the completion of the Company’s initial Business
Combination or earlier if, subsequent to the Company’s initial Business
Combination (such applicable period being the “Founder Lock-Up Period”), the
last sales price of the Common Stock equals or exceeds $12.00 per share (as
adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for at least one period of 20 trading days within any 30-trading
day period commencing at least 150 days after the Company’s initial Business
Combination or (B) the Company consummates a subsequent liquidation, merger,
stock exchange or other similar transaction which results in all of the
Company’s stockholders having the right to exchange their shares of Common Stock
for cash, securities or other property, and in the case of any of the Founder
Shares owned by the undersigned that, as of the date of determination, are
subject to forfeiture pursuant to paragraph 3(a) above, the undersigned shall
not, except as described in the Prospectus, (i) sell, offer to sell, contract or
agree to sell, hypothecate, pledge, grant any option to purchase or otherwise
dispose of or agree to dispose of, directly or indirectly, or establish or
increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of
1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, with respect to the Founder Shares owned by him or her, (ii) enter
into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of any of the Founder Shares
owned by him or her, whether any such transaction is to be settled by delivery
of the Common Stock or such other securities, in cash or otherwise, or (iii)
publicly announce any intention to effect any transaction specified in clause
(i) or (ii).

    

    [Paragraph
3(e) to be included in Founder’s and Sponsor’s letters only]

    
      
         

      

      
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    (e)         Until
30 days after the completion of the Company’s initial Business Combination
(“Sponsor Lock-Up Period”), each of the Founder and the Sponsor shall not,
except as described in the Prospectus, (i) sell, offer to sell, contract or
agree to sell, hypothecate, pledge, grant any option to purchase or otherwise
dispose of or agree to dispose of, directly or indirectly, or establish or
increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of
1934, as amended, and the rules and regulations of the SEC promulgated
thereunder, with respect to the Sponsor Warrants and the respective Common Stock
underlying the Sponsor Warrants, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences
of ownership of any of the Sponsor Warrants and the respective Common Stock
underlying the Sponsor Warrants, whether any such transaction is to be settled
by delivery of the Common Stock or such other securities, in cash or otherwise,
or (iii) publicly announce any intention to effect any transaction specified in
clause (i) or (ii).

    

    (f)          Notwithstanding
the provisions contained in paragraph 3(d) [and 3(e)] herein, the undersigned
may transfer the Founder Shares [and/or Sponsor Warrants and the respective
shares of Common Stock underlying the Sponsor Warrants] owned by him, her or it
(i) to the Company’s officers or directors, any affiliate or family member of
any of the Company’s officers or directors or any affiliate of the Sponsor; (ii)
by gift to a member of the undersigned’s immediate family or to a trust, the
beneficiary of which is a member of the undersigned’s immediate family, an
affiliate of the undersigned or to a charitable organization; (iii) by virtue of
the laws of descent and distribution upon death of the undersigned; (iv)
pursuant to a qualified domestic relations order; (v) [This clause to be
included in Sponsor’s letter only] [by virtue of the laws of the state of
Delaware or the Sponsor’s limited liability company agreement upon dissolution
of the Sponsor;] (vi) in the event of the Company’s liquidation prior to the
completion of the Company’s initial Business Combination; or (vii) in the event
that the Company consummates a liquidation, merger, stock exchange or other
similar transaction that results in all of its stockholders having the right to
exchange their shares of the Common Stock for cash, securities or other property
subsequent to the consummation of the Company’s initial Business Combination;
provided, however, that, in the case of clauses (i) through [(iv)] [(v)
[for the Sponsor’s letter only]],
these permitted transferees enter into a written agreement with the Company
agreeing to be bound by the transfer restrictions in 3(d) herein.

    

    (g)         Further,
the undersigned agrees that after the Founder Lock-Up Period [or the Sponsor
Lock-Up Period, as applicable,] has elapsed, the Founder Shares [and/or Sponsor
Warrants and the respective shares of Common Stock underlying the Sponsor
Warrants] owned by him or her shall only be transferable or saleable pursuant to
a sale registered under the Securities Act or pursuant to an available exemption
from registration under the Securities Act. The Company and the undersigned each
acknowledge that pursuant to that certain registration rights agreement to be
entered into between the Company and the Initial Stockholders, each of the
Founder and the Sponsor may request that a registration statement relating to
the Founder Shares [and/or Sponsor Warrants and the respective shares of Common
Stock underlying the Sponsor Warrants] be filed with the Commission prior to the
end of the Founder Lock-Up Period [or the Sponsor Lock-Up Period, as the case
may be]; provided, however, that such registration statement does not become
effective prior to the end of the Founder Lock-Up Period [or the Sponsor Lock-Up
Period, as applicable].

    
      
         

      

      
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    4.           During
the period commencing on the effective date of the Underwriting Agreement and
ending 180 days after such date, the undersigned shall not (i) sell, offer to
sell, contract or agree to sell, hypothecate, pledge, grant any option to
purchase or otherwise dispose of or agree to dispose of, directly or indirectly,
or establish or increase a put equivalent position or liquidate or decrease a
call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the
Commission promulgated thereunder, with respect to any Units, shares of Common
Stock, Warrants or any securities convertible into, or exercisable, or
exchangeable for, shares of Common Stock owned by him or her, (ii) enter into
any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of any Units, shares of Common
Stock, Warrants or any securities convertible into, or exercisable, or
exchangeable for, shares of Common Stock owned by him or her, whether any such
transaction is to be settled by delivery of such securities, in cash or
otherwise, or (iii) publicly announce any intention to effect any transaction
specified in clause (i) or (ii). Notwithstanding
the foregoing, the undersigned may transfer the Units, shares of Common Stock,
Warrants or any securities convertible into, or exercisable, or exchangeable
for, shares of Common Stock owned by him, her or it (i) to the Company’s
officers or directors, any affiliate or family member of any of the Company’s
officers or directors or any affiliate of the Sponsor; (ii) by gift to a member
of the undersigned’s immediate family or to a trust, the beneficiary of which is
a member of the undersigned’s immediate family, an affiliate of the undersigned
or to a charitable organization; (iii) by virtue of the laws of descent and
distribution upon death of the undersigned; (iv) pursuant to a qualified
domestic relations order; (v) [This clause to be included in Sponsor’s letter
only] [by virtue of the laws of the state of Delaware or the Sponsor’s limited
liability company agreement upon dissolution of the Sponsor;] (vi) in the event
of the Company’s liquidation prior to the completion of the Company’s initial
Business Combination; or (vii) in the event that the Company consummates a
liquidation, merger, stock exchange or other similar transaction that results in
all of its stockholders having the right to exchange their shares of the Common
Stock for cash, securities or other property subsequent to the consummation of
the Company’s initial Business Combination; provided, however, that, in the case
of clauses (i) through [(iv)] [(v) [for the Sponsor’s letter only]],
these permitted transferees enter into a written agreement with the Company
agreeing to be bound by the transfer restrictions in this paragraph
4.

     

    [Paragraph
5 to be included in Founder’s letter only]

    

    5.           In
the event of the liquidation of the Company, the Founder agrees to indemnify and
hold harmless the Company against any and all loss, liability, claim, damage and
expense whatsoever (including, but not limited to, any and all legal or other
expenses reasonably incurred in investigating, preparing or defending against
any litigation, whether pending or threatened, or any claim whatsoever) to which
the Company may become subject as a result of any claim by (i) any third party
for services rendered or products sold to the Company or (ii) a prospective
target business with which the Company has entered into an acquisition agreement
with (a “Target”); provided, however, that such indemnification of the Company
by the Founder shall apply only to the extent necessary to ensure that such
claims by a third party for services rendered (other than the Company’s
independent public accountants) or products sold to the Company or a Target do
not reduce the amount of funds in the Trust Account to below $9.95 per share of
the Common Stock sold in the Offering (the “Offering Shares”) (or approximately
$9.92 per Offering Share if the underwriters’ over-allotment option, as
described in the Prospectus, is exercised in full, or such pro rata amount in
between $9.92 and $9.95 per Offering Share that corresponds to the portion of
the over-allotment option that is exercised), and provided, further, that only
if such third party or Target has not executed an agreement waiving claims
against and all rights to seek access to the Trust Account whether or not such
agreement is enforceable. In the event that any such executed waiver is deemed
to be unenforceable against such third party, the Founder shall not be
responsible for any liability as a result of any such third party claims.
Notwithstanding any of the foregoing, such indemnification of the Company by the
Founder shall not apply as to any claims under the Company’s obligation to
indemnify the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended. The Founder shall have the right
to defend against any such claim with counsel of its choice reasonably
satisfactory to the Company if, within 15 days following written receipt of
notice of the claim to the Founder, the Founder notifies the Company in writing
that the Founder shall undertake such defense.

    
      
         

      

      
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    [Paragraph
6 to be included in Officers’ and Founder’s letters only]

    

    6.
(a)     In order to minimize potential conflicts of
interest that may arise from multiple corporate affiliations, the undersigned
hereby agrees that until the earliest of the Company’s initial Business
Combination, liquidation or such time as he or she ceases to be an officer of
the Company, he or she shall present to the Company for its consideration, prior
to presentation to any other entity, any business opportunity with an enterprise
value of $100 million or more, subject to any pre-existing fiduciary or
contractual obligations he or she might have.

    

    (b)         The
undersigned understands that the Company may effect a Business Combination with
a single target business or multiple target businesses simultaneously and agrees
that he or she will not participate in the formation of, or become an officer or
director of, any blank check company, until the Company has entered into a
definitive agreement regarding its initial Business Combination or the Company
has failed to complete an initial Business Combination within 21 months (or 27
months if a letter of intent, agreement in principle or definitive agreement
relating to a prospective Business Combination is executed before the 21-month
period ends), from the closing of the Offering; provided, however, that nothing
contained herein shall override the undersigned’s fiduciary obligations to any
entity with which he or she is currently directly or indirectly associated or
affiliated or by whom he or she is currently employed.

    

    (c)         The
undersigned hereby agrees and acknowledges that (i) each of the Underwriters and
the Company would be irreparably injured in the event of a breach by the
undersigned of his or her obligations under paragraphs 5(a) and/or 5(b) hereof,
(ii) monetary damages may not be an adequate remedy for such breach and (iii)
the non-breaching party shall be entitled to injunctive relief, in addition to
any other remedy that such party may have in law or in equity, in the event of
such breach.

    

    7.           The
undersigned’s biographical information furnished to the Company and attached
here as Exhibit A is true and accurate in all respects and does not omit any
material information with respect to the undersigned’s background. The
undersigned’s questionnaire furnished to the Company and attached hereto as
Exhibit B is true and accurate in all respects. The undersigned represents and
warrants that:

    

    (a)         the
undersigned is not subject to or a respondent in any legal action for, any
injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any
jurisdiction;

    

    (b)         the
undersigned has never been convicted of, or pleaded guilty to, any crime (i)
involving fraud, (ii) relating to any financial transaction or handling of funds
of another person, or (iii) pertaining to any dealings in any securities and the
undersigned is not currently a defendant in any such criminal proceeding;
and

    

    (c)         the
undersigned has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or
commodities license or registration denied, suspended or
revoked.

    
      
         

      

      
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    8.           Except
as disclosed in the Prospectus, neither the undersigned nor any affiliate of the
undersigned, shall receive any finder’s fee, reimbursement, consulting fee,
monies in respect of any repayment of a loan or other compensation prior to, or
in connection with any services rendered in order to effectuate the consummation
of the Company’s initial Business Combination (regardless of the type of
transaction that it is), other than the following:

    

    (a)     
    repayment of a $225,000 loan made to the Company by the
Founder, pursuant to a Promissory Note dated November 18, 2010;

    

    (b)         payment
of an aggregate of $10,000 per month to the Sponsor, for office space,
secretarial and administrative services;

    

    (c)       
  reimbursement for any reasonable out-of-pocket expenses related to
identifying, investigating and consummating an initial Business Combination, so
long as no proceeds of the Offering held in the Trust Account may be applied to
the payment of such expenses prior to the consummation of a Business
Combination, except that the Company may, for purposes of funding its working
capital requirements (including paying such expenses), receive from the Trust
Account up to $2,000,000 in interest income (net of franchise and income taxes
payable), in the event the underwriters’ over-allotment option in the Offering
is not exercised in full, or $2,300,000 in interest income (net of franchise and
income taxes payable), if the underwriters’ over-allotment option in the
Offering is exercised in full (or, if the over-allotment option is not exercised
in full, but is exercised in part, the amount in interest income (net of
franchise and income taxes payable) to be released shall be increased
proportionally in relation to the proportion of the over-allotment option which
was exercised); and

    

    (d)         repayment
of loans, if any, and on such terms as to be determined by the Company from time
to time, made by the Sponsor or an affiliate of the Sponsor or certain of the
Company’s officers and directors to finance transaction costs in connection with
an intended initial Business Combination, provided, that, if the Company does
not consummate an initial Business Combination, a portion of the working capital
held outside the Trust Account may be used by the Company to repay such loaned
amounts so long as no proceeds from the Trust Account are used for such
repayment; provided, however, that the Company may, for purposes of funding its
working capital requirements (including repaying such loans), receive from the
Trust Account up to $2,000,000 in interest income (net of taxes payable on such
interest), in the event the underwriters’ over-allotment option in the Offering
is not exercised in full, or $2,300,000 in interest income (net of taxes payable
on such interest), if the underwriters’ over-allotment option in the Offering is
exercised in full (or, if the over-allotment option is not exercised in full,
but is exercised in part, the amount in interest income (net of taxes payable on
such interest) to be released shall be increased proportionally in relation to
the proportion of the over-allotment option which was exercised).

    

    9.           The
undersigned acknowledges and understands that the Underwriters and the Company
will rely upon the agreements, representations, and warranties set forth herein
in proceeding with the Offering.
 

    
      
         

      

      
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    10.         The
undersigned authorizes any employer, financial institution, or consumer credit
reporting agency to release to the Representatives and its legal representatives
or agents (including any investigative search firm retained by the
Representatives) any information they may have about the undersigned’s
background and finances (“Information”), purely
for the purposes of the Offering (and shall thereafter hold such information
confidential).  Neither the Representatives nor its agents shall be
violating the undersigned’s right of privacy in any manner in requesting and
obtaining the Information and the undersigned hereby releases them from
liability for any damage whatsoever in that connection.

    

    11.         The
undersigned acknowledges and agrees that the Company will not consummate any
Business Combination with any company with which the undersigned has had any
discussions, formal or otherwise, prior to the consummation of the IPO, with
respect to a Business Combination.

    

    12.         The
undersigned acknowledges and agrees that the Company will not consummate any
Business Combination which involves a company which is affiliated with any of
the Founders unless the Company obtains an opinion from an independent
investment banking firm that the business combination is fair to the Company’s
stockholders from a financial perspective.

    

    13.         The
undersigned has full right and power, without violating any agreement to which
he or she is bound (including, without limitation, any non-competition or
non-solicitation agreement with any employer or former employer), to enter into
this Letter Agreement and to serve as an officer of the Company or as a director
on the board of directors of the Company, as applicable, and hereby consents to
being named in the Prospectus as an officer and/or as a director of the Company,
as applicable.

    

    14.         As
used in this Letter Agreement, (i) “Business Combination” shall mean a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination, involving the Company and one or more businesses;
(ii) “Founder” shall mean Robert L. Johnson; (iii) “Founder Shares” shall mean
the 3,593,750 shares of the Common Stock of the Company acquired by the Initial
Stockholders for an aggregate purchase price of $25,000, or approximately $0.007
per share, prior to the consummation of the Offering; (iv) “Public Stockholders”
shall mean the holders of securities issued in the Offering; (v) “Sponsor” shall
mean RLJ SPAC Acquisition, LLC; (vi) “Sponsor Warrants” shall mean the Warrants
to purchase up to 6,166,667 shares of the Common Stock of the Company that are
acquired by the Sponsor at a price per Warrant of $0.75 in a private placement
that shall occur simultaneously with the consummation of the Offering; and (vii)
“Trust Account” shall mean the trust fund into which a portion of the net
proceeds of the Offering will be deposited.

    

    15.         This
Letter Agreement, and the exhibits thereto, constitute the entire agreement and
understanding of the parties hereto in respect of the subject matter hereof and
supersede all prior understandings, agreements, or representations by or among
the parties hereto, written or oral, to the extent they relate in any way to the
subject matter hereof or the transactions contemplated hereby. This Letter
Agreement may not be changed, amended, modified or waived (other than to correct
a typographical error) as to any particular provision, except by a written
instrument executed by the parties hereto.

    
      
         

      

      
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    16.         Neither
party may assign either this Letter Agreement or any of its rights, interests,
or obligations hereunder without the prior written consent of the other party.
Any purported assignment in violation of this paragraph shall be void and
ineffectual and shall not operate to transfer or assign any interest or title to
the purported assignee. This Letter Agreement shall be binding on the
undersigned and each of his or her heirs, personal representatives, successors
and assigns.

    

    17.         This
Letter Agreement shall be governed by and construed and enforced in accordance
with 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 parities hereto (i) agree that any action, proceeding,
claim or dispute arising out of, or relating in any way to, this Letter
Agreement shall be brought and enforced in the courts of New York, in the State
of New York, and irrevocably submits to such jurisdiction and venue, which
jurisdiction and venue shall be exclusive and (ii) waives any objection to such
exclusive jurisdiction and venue or that such courts represent an inconvenient
forum.

    

    18.         Any
notice, consent or request to be given in connection with any of the terms or
provisions of this Letter Agreement shall be in writing and shall be sent by
express mail or similar private courier service, by certified mail (return
receipt requested), by hand delivery or facsimile transmission.

    

    19.         This
Letter Agreement shall terminate on the earlier of (i) the expiration of the
Founder Lock-up Period, or (ii) the liquidation of the Company; provided,
however, that this Letter Agreement shall earlier terminate in the event that
the Offering is not consummated and closed by March 31, 2011.

    

    [Signature page
follows]

 

    
      
         

      

      
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                  Sincerely,

                
	 
      
	
                  By:

                	 
      
	 
      	
                  Name:

                

        

      

    

    

    
      
        
          
            
              	
                      Acknowledged
      and Agreed:

                    
	 
      
	
                      RLJ
      ACQUISITION, INC.

                    
	 
      
	
                      By:

                    	 	 
      
	 
      	
                      H.
      Van Sinclair

                    
	 
      	
                      President
      and Chief Executive
Officer

                    

            

          

        

      

    

    
    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
A

    (Attached)

 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
B

    (Attached)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}]]