Document:

Exhibit
      10.5

    ________,
      2008

     

    New
      Asia
      Partners China I Corporation

    1401-02
      China Insurance Building

    166
      Lu
      Jia Zui Dong Lu

    Pudong,
      Shanghai, 200120, China

    

    Ladenburg
      Thalmann & Co. Inc.

    4400
      Biscayne Blvd., 14th
      Floor

    Miami,
      Florida 33137

     

    Morgan
      Joseph & Co. Inc.

    600
      Fifth
      Avenue, 19th
      Floor
      

    New
      York,
      New York 10020

    
      	
               

            	
              Re:

            	
              Initial
                Public Offering

            

    

     

    Gentlemen:

     

    Edward
      Sappin (“Sappin”), the undersigned director of New Asia Partners China I
      Corporation (“Company”), in consideration of Ladenburg Thalmann & Co. Inc.
      (“Ladenburg”) and Morgan Joseph & Co. Inc. (“Morgan Joseph”) agreeing to
      underwrite an initial public offering of the securities of the Company (“IPO”)
      and embarking on the IPO process, hereby agrees as follows (certain capitalized
      terms used herein are defined in paragraph 15 hereof):

     

    1. If
      the
      Company solicits approval of its stockholders of a Business Combination, Sappin
      will vote all Insider Shares beneficially owned by him in accordance with the
      majority of the votes cast by the holders of the IPO Shares.

     

    2. In
      the
      event that the Company fails to consummate a Business Combination within 24
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO and no letter of intent, agreement in principle or
      definitive agreement has been executed within such 24 month period, or within
      36
      months from the Effective Date if so extended upon approval by the stockholders,
      Sappin shall take all such action reasonably within its power as is necessary
      to
      dissolve and
      liquidate the
      Company and cause
      the
      Trust Account to
      be
      liquidated to the
      holders
      of IPO Shares as soon as reasonably practicable.
      Sappin
      hereby waives any and all right, title, interest or claim of any kind in or
      to
      any distribution of the Trust Fund and any remaining net assets of the Company
      as a result of such liquidation with respect to the Insider Shares beneficially
      owned by him (“Claim”) and hereby waives any Claim Sappin may have in the future
      as a result of, or arising out of, any contracts or agreements with the Company
      and will not seek recourse against the Trust Fund for any reason whatsoever.
      In
      the event of the liquidation of the Trust Fund, New Asia Partners Limited
      (“Related Party”), of which Sappin is a director, hereby agrees to indemnify and
      hold harmless the Company against any and all loss, liability, claims, 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)
      (“Indemnity Claim”) which the Company may become subject as a result of any
      claim by any vendor, service provider
      or financing provider for services rendered or products sold or contracted
      for,
      or by any target business, to the extent any such Indemnity Claim reduces the
      amount in the Trust Fund available for distribution to the Company’s
      stockholders, except (i) as to any claimed amounts owed to a third party who
      executed a legally enforceable waiver, or (ii) as to any claims under the
      Company’s indemnification obligations to the underwriters of the Company’s IPO
      against certain liabilities, including liabilities under the Securities Act
      of
      1933, as amended. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    New
      Asia Partners China I Corporation

    Ladenberg
      Thalmann & Co. Inc.

    Morgan
      Joseph & Co. Inc.

    ________,
      2008

    Page
      2

     

    3. In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, Sappin agrees to present to the Company for its consideration,
      prior to presentation to any other person or entity, any suitable opportunity
      to
      acquire an operating business, until the earlier of the consummation by the
      Company of a Business Combination, the liquidation of the Company or until
      such
      time as Sappin ceases to be an officer or director of the Company, subject
      to
      any pre-existing fiduciary and contractual obligations Sappin might have.
      Notwithstanding the foregoing, the Related Party agrees, until the earlier
      of
      the Company’s execution
      of a letter of intent or definitive agreement relating to a potential
Business Combination or liquidation, to present to the Company for
      consideration, prior to undertaking on its own behalf or presenting to any
      other
      person or entity, any business opportunity that has an enterprise value of
      $40
      million or more and has its principal operations in the People’s Republic of
      China (a “Conflicting Opportunity”). Sappin agrees that he (or in the case of
      the Related Party, either he or another individual who identified the particular
      opportunity) shall present any Conflicting Opportunity to the Company’s board of
      directors (which may be accomplished at a meeting or by written or electronic
      notification) and the Company shall have a period of thirty (30) days to
      determine if it intends to proceed with such Conflicting Opportunity before
      such
      Conflicting Opportunity may be presented to the Related Party.

     

    4.
Sappin
      acknowledges and agrees that (i) the Company will not consummate any Business
      Combination with an entity which is affiliated with any of the Insiders or
      their
      affiliates, including an entity that is either a portfolio company of, or has
      otherwise received a material financial investment from, an investment banking
      firm (or an affiliate thereof) that is affiliated with any of the Insiders
      or
      their affiliates, and (ii) the Company will not enter into any Business
      Combination where the Company acquires less than 100% of a target business
      and
      any of the Insiders or their affiliates acquire the remaining portion of such
      target business, in either such case, unless the Company obtains an opinion
      from
      an independent investment banking firm that such Business Combination is fair
      to
      the Company’s unaffiliated stockholders from a financial point of
      view. 

     

    5. Neither
      Sappin, any member of the family of Sappin, nor any affiliate (“Affiliate”) of
      Sappin will be entitled to receive and will not accept any compensation for
      services rendered to the Company prior to or in connection with the consummation
      of the Business Combination; provided that commencing on the Effective Date,
      the
      Related Party shall be allowed to charge the Company $7,500 per month, to
      compensate it for certain general and administrative services including office
      space, utilities and secretarial support, as may be required by the Company
      from
      time to time. The Related Party and Sappin shall also be entitled to
      reimbursement from the Company for their out-of-pocket expenses incurred in
      connection with seeking and consummating a Business Combination.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      New
        Asia Partners China I Corporation

      Ladenberg
        Thalmann & Co. Inc.

      Morgan
        Joseph & Co. Inc.

      ________,
        2008

      Page
        3

    

     

    6. Neither
      Sappin, any member of the family of Sappin, nor any Affiliate of Sappin will
      be
      entitled to receive or accept a finder’s fee or any other compensation in the
      event Sappin, any member of the family of Sappin or any Affiliate of Sappin
      originates a Business Combination.

     

    7. Sappin
      will escrow all of the Insider Shares beneficially owned by him acquired prior
      to the IPO until one year after the consummation by the Company of a Business
      Combination subject to the terms of a Stock Escrow Agreement which the Company
      will enter into with Sappin and an escrow agent acceptable to the
      Company.

     

    8. Sappin
      agrees to be a member of the Board of Directors of the Company until the earlier
      of the consummation by the Company of a Business Combination or the liquidation
      of the Company. Sappin’s biographical information furnished to the Company,
      Ladenburg and Morgan Joseph and attached hereto as Exhibit A is true and
      accurate in all respects, does not omit any material information with respect
      to
      Sappin’s background and contains all of the information required to be disclosed
      pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act
      of
      1933. Sappin’s Questionnaire furnished to the Company, Ladenburg and Morgan
      Joseph and annexed as Exhibit B hereto is true and accurate in all respects.
      Sappin represents and warrants that:

     

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

     

    (c) he
      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.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      New
        Asia Partners China I Corporation

      Ladenberg
        Thalmann & Co. Inc.

      Morgan
        Joseph & Co. Inc.

      ________,
        2008

      Page
        4

    

     

    9. Sappin
      has full right and power, without violating any agreement by which he is bound,
      to enter into this letter agreement and to serve as a member of the Board of
      Directors of the Company.

     

    10. Sappin
      hereby waives his right to exercise conversion rights with respect to any shares
      of the Company’s common stock owned or to be owned by Sappin, directly or
      indirectly, and agrees that he will not seek conversion with respect to such
      shares in connection with any vote to approve a Business
      Combination.

     

    11. Sappin
      hereby agrees to not propose, or vote in favor of, an amendment to the Company’s
      Amended and Restated Certificate of Incorporation to extend the period of time
      in which the Company must consummate a Business Combination prior to its
      liquidation. This paragraph may not be modified or amended under any
      circumstances.

     

    12. In
      the
      event that the Company liquidates before the completion of a Business
      Combination and distributes the proceeds held in the Trust Fund to its public
      stockholders, the Related Party, of which Sappin is a director, agrees that
      it
      will be liable to the Company if and to the extent claims by third parties
      reduce the amounts in the Trust Fund available for payment to the Company’s
      stockholders in the event of a liquidation and the claims are made by a vendor
      for services rendered, or products sold, to the Company or by a prospective
      business target; provided, however, there will be no liability (i) as to any
      claimed amounts owed to a third party who executed a legally enforceable waiver,
      or (ii) as to any claims under the Company’s indemnity of the underwriters of
      the offering against certain liabilities, including liabilities under the
      Securities Act of 1933, as amended.

     

    13. Sappin
      authorizes any employer, financial institution, or consumer credit reporting
      agency to release to Ladenburg and Morgan Joseph and their legal representatives
      or agents (including any investigative search firm retained by Ladenburg or
      Morgan Joseph) any information they may have about Sappin’s background and
      finances (“Information”). Neither Ladenburg, Morgan Joseph nor their agents
      shall be violating Sappin’s right of privacy in any manner in requesting and
      obtaining the Information and Sappin hereby releases them from liability for
      any
      damage whatsoever in that connection.

     

    14. 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. Sappin hereby (i) agrees that any action, proceeding
      or
      claim against him arising out of or relating in any way to this letter agreement
      (a “Proceeding”) shall be brought and enforced in the courts of the State of New
      York of the United States of America for the Southern District of New York
      and
      irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive,
      (ii) waives any objection to such exclusive jurisdiction and that such courts
      represent an inconvenient forum, and (iii) irrevocably agrees to appoint Blank
      Rome LLP, Company counsel, as agent for the service of process in the State
      of
      New York to receive, for Sappin and on his behalf,
      service of process in any Proceeding. If for any reason such agent is unable
      to
      act as such, Sappin will promptly notify the Company, Ladenburg and Morgan
      Joseph and appoint a substitute agent acceptable to each of the Company,
      Ladenburg and Morgan Joseph within 30 days and nothing in this letter will
      affect the right of any party to serve process in any other manner permitted
      by
      law.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      New
        Asia Partners China I Corporation

      Ladenberg
        Thalmann & Co. Inc.

      Morgan
        Joseph & Co. Inc.

      ________,
        2008

      Page
        5

    

     

    15. As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by merger,
      capital stock exchange, asset or stock acquisition, reorganization or otherwise,
      of an operating business; (ii) “Insiders” shall mean all officers, directors and
      stockholders of the Company immediately prior to the IPO; (iii) “Insider Shares”
shall mean all of the shares of Common Stock of the Company acquired by an
      Insider prior to the IPO; (iv) “IPO Shares” shall mean the shares of Common
      Stock issued in the Company’s IPO; and (v) “Trust Fund” shall mean the trust
      fund into which a portion of the net proceeds of the Company’s IPO will be
      deposited.

     

    

      
        	
                Edward
                  Sappin

              	 
	 	 
	 	 
	 	
                Signature

              
	 	 
	 	 
	
                New
                  Asia Partners Limited

              	 
	 	 
	
                By:
                  

              	 	 

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

     

    Edward
      J. Sappin
      has
      served as a member of our board of directors since our inception. Since May
      2007, Mr. Sappin has served as a director of NAP. From December 2006 through
      April 2007, Mr. Sappin took time off to attend to family matters. From November
      2005 to November 2006, Mr. Sappin served as senior strategic planner for Intel
      Corp. From September 2004 to September 2005, Mr. Sappin served as the National
      Security Education Program (NSEP) Boren graduate research fellow for the United
      States government conducting research on business strategy in China. From
      September 2002 through August 2004, Mr. Sappin was pursuing graduate studies.
      From March 2001 to August 2002, Mr. Sappin served as a senior executive in
      the
      private equity department of Durlacher, a merchant bank located in the United
      Kingdom. From January 1999 to March 2001, Mr. Sappin served as advisor to
      Bentley Associates, a New York-based investment bank. From January 1997 to
      December 1998, Mr. Sappin was an associate in the New York office of Credit
      Agricole, a French merchant bank. Mr. Sappin received his B.S. in economics
      from
      the Wharton School at the University of Pennsylvania and an M.A. in
      international relations from the Nitze School of Advanced International Studies
      of The Johns Hopkins University. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

    

    [D&O
      questionnaire]Exhibit
      10.6

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      Agreement is made as of ___________, 2008 by and between New Asia Partners
      China
      I Corporation (the “Company”) and Continental Stock Transfer & Trust Company
      (“Trustee”).

     

    WHEREAS,
      the Company’s registration statement on Form S-1, No. 333-148612
      (“Registration Statement”), for its initial public offering of securities
      (“IPO”) has been declared effective as of the date hereof (“Effective Date”) by
      the Securities and Exchange Commission (capitalized terms used herein and not
      otherwise defined shall have the meanings set forth in the Registration
      Statement); and

     

    WHEREAS,
      Ladenburg Thalmann & Co. Inc. (“Ladenburg”) and Morgan Joseph & Co. Inc.
      (“Morgan Joseph”) are acting as the representatives of the underwriters in the
      IPO; and

     

    WHEREAS,
      as described in the Registration Statement, and in accordance with the Company’s
      Amended and Restated Certificate of Incorporation, $30,000,000 of the net
      proceeds of the IPO and sale of the Insider Warrants (or $34,320,000 if the
      underwriters’ over-allotment option is exercised in full) will be delivered to
      the Trustee to be deposited and held in a trust account for the benefit of
      the
      Company and the holders of the Company’s common stock, par value $.0001 per
      share, issued in the IPO as hereinafter provided (the amount to be delivered
      to
      the Trustee will be referred to herein as the “Property”, the stockholders for
      whose benefit the Trustee shall hold the Property will be referred to as the
      “Public Stockholders,” and the Public Stockholders and the Company will be
      referred to together as the “Beneficiaries”); and

     

    WHEREAS,
      pursuant to the Underwriting Agreement among the Company, Ladenburg and Morgan
      Joseph, on behalf of the underwriters, a portion of the Property equal to
      $900,000 (or the amount specified in a notice pursuant to paragraph 3(f) hereof)
      is attributable to deferred underwriting commissions that will become payable
      by
      the Company to Ladenburg and Morgan Joseph upon the consummation of an Initial
      Business Combination (as defined in the Registration Statement) (the “Deferred
      Discount”); and

     

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property;

     

    IT
      IS
      AGREED:

     

    1.  Agreements
      and Covenants of Trustee.
      The
      Trustee hereby agrees and covenants to:

     

    (a)  Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement in a segregated trust account (“Trust Account”) established by the
      Trustee;

     

    (b)  Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (c)  In
      a
      timely manner, upon the instruction of the Company, to invest and reinvest
      the
      Property in United States “government securities” within the meaning of Section
      2(a)(16) of the Investment Company Act of 1940 having a maturity of 180 days
      or
      less, and/or in any open ended investment company registered under the
      Investment Company Act of 1940 that holds itself out as a money market fund
      selected by the Company meeting the conditions of paragraphs (c)(2), (c)(3)
      and
      (c)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as
      determined by the Company;

     

    (d)  Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

     

    (e)  Notify
      the Company, Ladenburg and Morgan Joseph of all communications received by
      it
      with respect to any Property requiring action by the Company;

     

    (f)  Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Trust
      Account;

     

    (g)  Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company, Ladenburg
      and/or Morgan Joseph to do so;

     

    (h)  Render
      to
      the Company, Ladenburg, Morgan Joseph and to such other person as the Company
      may instruct, monthly written statements of the activities of and amounts in
      the
      Trust Account reflecting all receipts and disbursements of the Trust Account;
      and

     

    (i)  Commence
      liquidation of the Trust Account only after and promptly after receipt of,
      and
      only in accordance with, the terms of a letter (“Termination Letter”), in a form
      substantially similar to that attached hereto as either Exhibit A or Exhibit
      B
      hereto, signed on behalf of the Company by its Chief Executive Officer,
      President or Chairman of the Board and Corporate Secretary or other authorized
      officer of the Company, and complete the liquidation of the Trust Account and
      distribute the Property in the Trust Account only as directed in the Termination
      Letter and the other documents referred to therein; provided, however, that
      in
      the event that a Termination Letter has not been received by the Trustee by
      the
      close of business on the “business day” that is the 36-month anniversary of the
      effective date of the Registration Statement (the “Last Date”), the Trust
      Account shall be liquidated in accordance with the procedures set forth in
      the
      Termination Letter attached as Exhibit B hereto and distributed to the
      stockholders of record on the Last Date. The provisions of this Section 1(i)
      may
      not be modified, amended or deleted under any circumstances.

     

    2.  Limited
      Distributions of Income from Trust Account.

     

    (a)  Upon
      written request from the Company, which may be given from time to time in a
      form
      substantially similar to that attached hereto as Exhibit C, the Trustee shall
      distribute to the Company the amount requested by the Company to cover any
      tax
      obligation owed by the Company;

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

       

    

    (b)  Upon
      written request from the Company, which may be given from time to time in a
      form
      substantially similar to that attached hereto as Exhibit D, the Trustee shall
      distribute to the Company by means of a bank wire transfer, the amount requested
      by the Company to cover expenses related to investigating and selecting a target
      business and other working capital requirements; provided, however, that the
      aggregate amount of all such distributions (excluding amounts distributed
      pursuant to Section 2(a) above) shall not exceed $700,000 and the Company will
      not be allowed to withdraw interest income earned on the Trust Account unless
      there is sufficient funds available to pay the Company’s tax obligations on such
      interest income or otherwise then due at that time; and

     

    (c)  The
      limited distributions referred to in Sections 2(a) and 2(b) above shall be
      made
      only from income collected on the Property. Except as provided in Section 2(a)
      and 2(b) above, no other distributions from the Trust Account shall be permitted
      except in accordance with Section 1(i) hereof.

     

    3.  Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants to:

     

    (a)  Give
      all
      instructions to the Trustee hereunder in writing, signed by the Company’s
      Chairman of the Board or President or other authorized officer. In addition,
      except with respect to its duties under paragraphs 1(i), 2(a) and 2(b) above,
      the Trustee shall be entitled to rely on, and shall be protected in relying
      on,
      any verbal or telephonic advice or instruction which it in good faith believes
      to be given by any one of the persons authorized above to give written
      instructions, provided that the Company shall promptly confirm such instructions
      in writing;

     

    (b)  In
      all
      cases, the Company shall provide Ladenburg and Morgan Joseph with a copy of
      any
      Termination Letters and/or any other correspondence that it sends to the Trustee
      with respect to any proposed withdrawal from the Trust Account promptly after
      it
      issues same.

     

    (c)  Hold
      the
      Trustee harmless and indemnify the Trustee from and against, any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross negligence or willful misconduct. Promptly after the receipt by the
      Trustee of notice of demand or claim or the commencement of any action, suit
      or
      proceeding, pursuant to which the Trustee intends to seek indemnification under
      this paragraph, it shall notify the Company in writing of such claim
      (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the
      right to conduct and manage the defense against such Indemnified Claim,
      provided, that the Trustee shall obtain the consent of the Company with respect
      to the selection of counsel, which consent shall not be unreasonably withheld.
      The Trustee may not agree to settle any Indemnified Claim without the prior
      written consent of the Company, which consent shall not be unreasonably
      withheld. The Company may participate in such action with its own
      counsel;

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

       

    

    (d)  Pay
      the
      Trustee an initial acceptance fee, an annual fee and a transaction processing
      fee for each disbursement made pursuant to Section 2 as set forth on Schedule
      A
      hereto, which fees shall be subject to modification by the parties from time
      to
      time. It is expressly understood that the Property shall not be used to pay
      such
      fees unless and until it is distributed to the Company pursuant to Section
      2.
      The Company shall pay the Trustee the initial acceptance fee and first year’s
      fee at the consummation of the IPO and thereafter on the anniversary of the
      Effective Date. The Trustee shall refund to the Company the annual fee (on
      a pro
      rata basis) with respect to any period after the liquidation of the Trust Fund.
      The Company shall not be responsible for any other fees or charges of the
      Trustee except as set forth in this Section 3(c) and as may be provided in
      Section 3(b) hereof (it being expressly understood that the
      Property shall not be used to make any payments to the Trustee under such
      Sections, except to the extent it is distributed to the Company pursuant to
      Section 2);

     

    (e)  In
      connection with any vote of the Company’s stockholders regarding a Business
      Combination or an Extension Period (as described in the Registration Statement),
      provide to the Trustee an affidavit or certificate of a firm regularly engaged
      in the business of soliciting proxies and/or tabulating stockholder votes
      verifying the vote of the Company’s stockholders regarding such Business
      Combination; and

     

    (f)   Within
      five business days after Ladenburg’s and Morgan Joseph’s over-allotment option
      (or any unexercised portion thereof) expires or is exercised in full, provide
      the Trustee with
      a notice
      in writing (with a copy to Ladenburg and Morgan Joseph) of the total amount
      of
      the Deferred Discount, which shall in no event be less than $900,000.
A
      business day shall be any day that is not a Saturday, Sunday or other day on
      which banks are required or authorized by law to be closed in the City of New
      York.

     

    4.  Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a)  Imply
      obligations, perform duties, inquire or otherwise subject to the provisions
      of
      any agreement or document other than this agreement and that which is expressly
      set forth herein;

     

    (b)  Take
      any
      action with respect to the Property, other than as directed in paragraphs 1
      and
      2 hereof and the Trustee shall have no liability to any party except for
      liability arising out of its own gross negligence or willful
      misconduct;

     

    (c)  Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property unless and until it shall have received instructions from the
      Company given as provided herein to do so and the Company shall have advanced
      or
      guaranteed to it funds sufficient to pay any expenses incident
      thereto;

     

    (d)  Change
      the investment of any Property, other than in compliance with paragraph
      1(c);

     

    (e)  Refund
      any depreciation in principal of any Property;

     

    (f)  Assume
      that the authority of any person designated by the Company to give instructions
      hereunder shall not be continuing unless provided otherwise in such designation,
      or unless the Company shall have delivered a written revocation of such
      authority to the Trustee;

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

       

    

    (g)  The
      other
      parties hereto or to anyone else for any action taken or omitted by it, or
      any
      action suffered by it to be taken or omitted, in good faith and in the exercise
      of its own best judgment, except for its gross negligence or willful misconduct.
      The Trustee may rely conclusively and shall be protected in acting upon any
      order, notice, demand, certificate, opinion or advice of counsel (including
      counsel chosen by the Trustee), statement, instrument, report or other paper
      or
      document (not only as to its due execution and the validity and effectiveness
      of
      its provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Trustee, in good faith, to be
      genuine and to be signed or presented by the proper person or persons. The
      Trustee shall not be bound by any notice or demand, or any waiver, modification,
      termination or rescission of this Agreement or any of the terms hereof, unless
      evidenced by a written instrument delivered to the Trustee signed by the proper
      party or parties and, if the duties or rights of the Trustee are affected,
      unless it shall give its prior written consent thereto;

     

    (h)  Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement; and

     

    (i)  File
      information returns with the United States Internal Revenue Service and payee
      statements with the Company, documenting the taxes payable by the Company,
      if
      any, relating to interest earned on the Property. Prepare, execute and file
      tax
      reports, income or other tax returns and pay any taxes with respect to income
      and activities relating to the Trust Account, regardless of whether such tax
      is
      payable by the Trust Account or the Company (including but not limited to income
      tax obligations), it being expressly understood that as set forth in Section
      2(a), if there is any income or other tax obligation relating to the Trust
      Account or the Property in the Trust Account, as determined from time to time
      by
      the Company and regardless of whether such tax is payable by the Company or
      the
      Trust, at the written instruction of the Company, the Trustee shall make funds
      available in cash from the Property in the Trust Account an amount specified
      by
      the Company as owing to the applicable taxing authority, which amount shall
      be
      paid directly to the Company by electronic funds transfer, account debit or
      other method of payment, and the Company shall forward such payment to the
      taxing authority;

     

    (j)  Verify
      calculations, qualify or otherwise approve Company requests for distributions
      pursuant to Section 1(i), 2(a) or 2(b) above.

     

    5.  Termination.
      This
      Agreement shall terminate as follows:

     

    (a)  If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee. At such time that the Company notifies the Trustee that a successor
      trustee has been appointed by the Company and has agreed to become subject
      to
      the terms of this Agreement, the Trustee shall transfer the management of the
      Trust Account to the successor trustee, including but not limited to the
      transfer of copies of the reports and statements relating to the Trust Account,
      whereupon this Agreement shall terminate; provided, however, that, in the event
      that the Company does not locate a successor trustee within ninety days of
      receipt of the resignation notice from the Trustee, the Trustee may submit
      an
      application to have the Property deposited with any court in the State of New
      York or with the United States District Court for the Southern District of
      New
      York and upon such deposit, the Trustee shall be immune from any liability
      whatsoever; or

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

       

    

    (b)  At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of paragraph 1(i) hereof, and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate except with respect to Paragraph 3(b).

     

    6.  Miscellaneous.

     

    (a)  The
      Company and the Trustee each acknowledge that the Trustee will rely upon account
      numbers or other identifying numbers of a beneficiary, beneficiary’s bank or
      intermediary bank, rather than names. The Trustee shall not be liable for any
      loss, liability or expense resulting from any error in an account number or
      other identifying number, provided it has accurately transmitted the numbers
      provided.

     

    (b)  This
      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. It may be executed in several original or facsimile counterparts,
      each one of which shall constitute an original, and together shall constitute
      but one instrument.

     

    (c)  This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. Except for Section 1(i) (which may
      not be amended under any circumstances), this Agreement or any provision hereof
      may only be changed, amended or modified by a writing signed by each of the
      parties hereto; provided, however, that no such change, amendment or
      modification may be made without the prior written consent of Ladenburg and
      Morgan Joseph. As to any claim, cross—claim or counterclaim in any way relating
      to this Agreement, each party waives the right to trial by jury.

     

    (d)  The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the City of New York, Borough of Manhattan, for purposes of
      resolving any disputes hereunder.

     

    (e)  Any
      notice, consent or request to be given in connection with any of the terms
      or
      provisions of this 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 by facsimile transmission:

     

    
      	
              if
                to the Trustee, to:

            	 	
              Continental
                Stock Transfer & Trust Company

              17
                Battery Place

              New
                York, New York 10004

              Attn:
                Steven G. Nelson

              Fax
                No.: (212) 509-5150

            

    

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    
      	
              if
                to the Company, to:

            	 	
              New
                Asia Partners China I Corporation

              1401-02
                China Insurance Building

              166
                Lu Jia Zui Dong Lu

              Pudong,
                Shanghai, 200120, China

              Attn:
                Chief Executive Officer

              Fax
                No.: 8621-5879-8153

            
	
               

            	 	 
	
              in
                either case with a copy to:

            	 	
              Ladenburg
                Thalmann & Co. Inc.

              4400
                Biscayne Blvd.

              14th
                Floor

              Miami,
                Florida 33137

              Attn:
                James Cassel

              Fax
                No.: (305) 572-4220

            
	
              and:

            	 	 
	 	 	
              Morgan
                Joseph & Co. Inc.

              600
                Fifth Avenue, 19th
                Floor (HQ)

              New
                York, New York 10020

              Attn:
                Tina Pappas

              Fax
                No.: (212) 218-3760

            

    

     

    (f)  This
      Agreement may not be assigned by the Trustee without the prior consent of the
      Company, Ladenburg and Morgan Joseph.

     

    (g)  Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective
      obligations as contemplated hereunder. The Trustee acknowledges and agrees
      that
      it shall not make any claims or proceed against the Trust Account, including
      by
      way of set-off, and shall not be entitled to any funds in the Trust Account
      under any circumstance.

     

    (h)  Each
      of
      the Company and the Trustee hereby acknowledge that Ladenburg and Morgan Joseph
      are third party beneficiaries of this Agreement.

     

    [SIGNATURES
      ON FOLLOWING PAGE]

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties have duly executed this Investment Management
      Trust
      Agreement as of the date first written above.

     

    
      
        
          	
                   

                	
                  CONTINENTAL
                    STOCK TRANSFER & TRUST COMPANY, as Trustee

                
	
                   

                	
                   

                	
                   

                
	 	 	 
	
                   

                	
                  By:

                	
                   

                
	
                   

                	 	
                  Name:
                    Steven G.  Nelson

                
	
                   

                	 	
                  Title:
                    President and Chairman

                
	 	 	 
	
                   

                	
                   

                	
                   

                
	
                   

                	
                  NEW
                    ASIA PARTNERS CHINA I CORPORATION

                
	
                   

                	
                   

                	
                   

                
	 	 	 
	
                   

                	
                  By:

                	
                   

                
	
                   

                	 	
                  Name:
                    

                
	
                   

                	 	
                  Title:
                    

                

        

      

    

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
      A

     

    
      	
              Fee
                Item

            	 	
              Time
                and method of payment

            	 	
              Amount

            	 
	 	 	 	 	 	 
	
              Initial
                acceptance fee

            	 	Initial
              closing of IPO by wire transfer	 	
              $

            	
              [_____]

            	
               

            
	 	 	 	 	 	 	 
	
              Annual
                fee

            	 	First
              year, initial closing of IPO by wire transfer; thereafter on the
              anniversary of the effective date of the IPO by wire transfer or
              check	 	
              $

            	
              [_____]

            	
               

            
	 	 	 	 	 	 	 
	
              Transaction
                processing fee for disbursements to Company under Section
                2

            	 	Deduction
              by Trustee from accumulated income following disbursement made to Company
              under Section 2	 	
              $

            	
              [_____]

            	
               

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    [Letterhead
      of Company]

    [Insert
      date]

     

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York
      New York 10004

    Attn:
      Steven Nelson

     

    Re:
      Trust Account No. Termination Letter

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between New
      Asia
      Partners China I Corporation (“Company”) and Continental Stock Transfer &
Trust Company (“Trustee”), dated as of ____________, 2008 (“Trust Agreement”),
      this is to advise you that the Company has entered into an agreement (“Business
      Agreement”) with ________________ (“Target Business”) to consummate a business
      combination with Target Business (“Business Combination”) on or about [insert
      date]. The Company shall notify you at least 48 hours in advance of the actual
      date of the consummation of the Business Combination (“Consummation
      Date”).

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account to the effect that, on the
      Consummation Date, all of funds held in the Trust Account will be immediately
      available for transfer to the account or accounts that the Company shall direct
      on the Consummation Date.

     

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that the Business Combination has been consummated (“Counsel’s
      Letter”) (ii) the Company shall deliver to you (a) [an affidavit] [a
      certificate] of __________________which verifies the vote of the Company’s
      stockholders in connection with the Business Combination and (b) written
      instructions with respect to the transfer of the funds held in the Trust Account
      other than the Deferred Discount (“Instruction Letter”) and (iii) Ladenburg and
      Morgan Joseph shall deliver to you written instructions for delivery of the
      Deferred Discount. You are hereby directed and authorized to transfer the funds
      held in the Trust Account immediately upon your receipt of the Counsel’s Letter
      and the Instruction Letter, (a) to Ladenburg and Morgan Joseph in an amount
      equal to the Deferred Discount as so directed by them, and (b) the remainder
      in
      accordance with the terms of the Instruction Letter. In the event that certain
      deposits held in the Trust Account may not be liquidated by the Consummation
      Date without penalty, you will notify the Company of the same and the Company
      shall direct you as to whether such funds should remain in the Trust Account
      and
      distributed after the Consummation Date to the Company. Upon the distribution
      of
      all the funds in the Trust Account pursuant to the terms hereof, the Trust
      Agreement shall be terminated and the Trust Account closed.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then upon the Trustee’s
      receipt of a written request from the Company, the funds held in the Trust
      Account shall be reinvested as provided in the Trust Agreement on the business
      day immediately following the original Consummation Date as set forth in the
      notice.

    

    
      	 	
              Very
                truly yours,

            	 
	 	
               

            	 	 
	 	
              NEW
                ASIA PARTNERS CHINA I CORPORATION

            	 
	 	 	 	 
	 	 	 	 
	 	
              By:

            	 
	 
	 	 	
              Name:
                

            	 
	 	 	
              Title:
                

            	 

    

     

    cc: Ladenburg
      Thalmann & Co. Inc.

    cc: Morgan
      Joseph & Co. Inc.

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    [Letterhead
      of Company]

    [Insert
      date]

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York
      New York 10004

    Attn:
      Steven Nelson

     

    Re:
      Trust Account No. Termination Letter

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between New
      Asia
      Partners China I Corporation (“Company”) and Continental Stock Transfer &
Trust Company (“Trustee”), dated as of ______________, 2008 (“Trust Agreement”),
      this is to advise you that the Company has been unable to effect a Business
      Combination with a Target Company within the time frame specified in the
      Company’s Certificate of Incorporation, as described in the Company’s prospectus
      relating to its IPO.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you,
      to
      commence liquidation of the Trust Account as promptly as practicable. The
      Company has appointed [__________________] to serve as its Designated Paying
      Agent; accordingly, you will notify the Company and the “Designated Paying
      Agent” in writing as to when all of the funds in the Trust Account will be
      available for immediate transfer (the “Transfer Date”). The Designated Paying
      Agent shall thereafter notify you as to the account or accounts of the
      Designated Paying Agent that the funds in the Trust Account should be
      transferred to on the Transfer Date so that the Designated Paying Agent may
      commence distribution of such funds in accordance with the Company’s
      instructions. You shall have no obligation to oversee the Designated Paying
      Agent’s distribution of the funds. Upon the payment to the Designated Paying
      Agent of all the funds in the Trust Account, the Trust Agreement shall terminate
      in accordance with the terms thereof.

    

      
        	 	
                Very
                  truly yours,

              	 
	 	 	 	 
	 	
                NEW
                  ASIA PARTNERS CHINA I CORPORATION

              	 
	 	 	 	 
	 	
                By:
                  

              	 	 
	 	 	
                Name:
                  

              	 
	 	 	
                Title:
                  

              	 

      

    

     

    cc: Ladenburg
      Thalmann & Co. Inc.

    cc: Morgan
      Joseph & Co. Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    [Letterhead
      of Company]

    [Insert
      date]

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York
      New York 10004

    Attn:
      Steven Nelson

     

    Re:
      Trust Account No.

     

    Gentlemen:

     

    Pursuant
      to paragraph 2(a) of the Investment Management Trust Agreement between New
      Asia
      Partners China I Corporation (“Company”) and Continental Stock Transfer &
Trust Company (“Trustee”), dated as of ____________, 2008 (“Trust Agreement”),
      the Company hereby requests that you deliver to the Company $____________ of
      the
      income earned on the Property as of the date hereof. The Company needs such
      funds to pay for the tax obligations as set forth on the attached tax return
      or
      tax statement. In accordance with the terms of the Trust Agreement, you are
      hereby directed and authorized to transfer (via wire transfer) such funds
      promptly upon your receipt of this letter to the Company’s operating account at:
[WIRE
      INSTRUCTION INFORMATION]

     

    
      
        	 	
                Very
                  truly yours,

              	 
	 	
                 

              	 	 
	 	
                NEW
                  ASIA PARTNERS CHINA I CORPORATION

              	 
	 	 	 	 
	 	
                By:
                  

              	 	 
	 	 	
                Name:
                  

              	 
	 	 	
                Title:
                  

              	 

      

    

     

    cc: Ladenburg
      Thalmann & Co. Inc.

    cc: Morgan
      Joseph & Co. Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      D

    [Letterhead
      of Company]

    [Insert
      date]

     

    Continental
      Stock Transfer

    &
      Trust Company

    17
      Battery Place

    New
      York
      New York 10004

    Attn:
      Steven Nelson

     

    Re:
      Trust Account No.

     

    Gentlemen:

     

    Pursuant
      to paragraph 2(b) of the Investment Management Trust Agreement between New
      Asia
      Partners China I Corporation (“Company”) and Continental Stock Transfer &
Trust Company (“Trustee”), dated as of ______________, 2008 (“Trust Agreement”),
      the Company hereby requests that you deliver to the Company $____________ of
      the
      income earned on the Property as of the date hereof, which does not exceed,
      in
      the aggregate with all such prior disbursements pursuant to paragraph 2(b),
      if
      any, the maximum amount set forth in paragraph 2(b). The Company needs such
      funds to pay its expenses relating to investigating and selecting a target
      business and other working capital requirements. In accordance with the terms
      of
      the Trust Agreement, you are hereby directed and authorized to transfer (via
      wire transfer) such funds promptly upon your receipt of this letter to the
      Company’s operating account at:
      [WIRE INSTRUCTION INFORMATION]

    

      
        	 	
                Very
                  truly yours,

              	 
	 	 	 
	 	
                NEW
                  ASIA PARTNERS CHINA I CORPORATION

              	 
	 	 	 	 
	 	 	 	 
	 	
                By:

              	 	 
	 	 	
                Name:
                  

              	 
	 	 	
                Title:
                  

              	 

      

    

     

    cc: Ladenburg
      Thalmann & Co. Inc.

    cc: Morgan
      Joseph & Co. Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      E

     

    
      	
              AUTHORIZED
                INDIVIDUAL(S) FOR

              TELEPHONE
                CALL BACK

            	 	
              AUTHORIZED
                
TELEPHONE
NUMBER(S)

            
	
              Company:

            	 	 
	
              New
                Asia Partners China I Corporation

              1401-02
                China Insurance Building

              166
                Lu Jia Zui Dong Lu

              Pudong,
                Shanghai, 200120, China

              Attn :
                Chief Executive Officer

            	 	
              (86-21)
                5879-8152

            
	
              Trustee:

            	 	 
	
              Continental
                Stock Transfer & Trust Company

              17
                Battery Place

              New
                York, New York 10004

              Attn:
                Steven G. Nelson

            	 	
              (212)
                845-3270

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}]]