Document:

WARRANT
      PURCHASE AGREEMENT 

     

    WARRANT
      PURCHASE AGREEMENT (this “Agreement”) made as of this ___________day of
      February, 2008 among ASM Acquisition Company Limited, a Cayman Islands
      corporation (the “Company”) and the undersigned (the “Purchasers”).

     

    WHEREAS,
      the Company has filed with the Securities and Exchange Commission (the “SEC”) a
      registration statement on Form F-1, as amended (File No. 333-148549) (the
“Registration Statement”), in connection with the Company’s initial public
      offering (the “IPO”) of 15,000,000 units (the “Units”), each unit consisting of
      one of the Company’s ordinary shares, $0.001 par value (the “Ordinary Shares”),
      and (ii) one warrant (the “Warrants”), each warrant to purchase one Ordinary
      Share; and

     

    WHEREAS,
      immediately prior to the consummation of the IPO, the Company desires to sell
      in
      a private placement to the Purchasers (the “Placement”) an aggregate of
      4,550,000 warrants (the “Placement Warrants”) substantially identical to the
      Warrants being issued in the IPO pursuant to the terms and conditions hereof
      and
      as set forth in the Registration Statement, except that the Placement Warrants
      to be issued in the Placement shall not be registered under the Securities
      Act
      of 1933, as amended (the “Securities Act”); and

     

    WHEREAS,
      each Purchaser desires to acquire the number of Placement Warrants set forth
      opposite its name on Schedule
      A
      hereto;
      and

     

    WHEREAS,
      except as provided herein, the Placement Warrants shall be governed by the
      Warrant Agreement filed as an exhibit to the Registration Statement;
      and

     

    WHEREAS,
      the Purchasers are entitled to registration rights with respect to the Placement
      Warrants and the Ordinary Shares underlying the Placement Warrants (the
“Underlying Shares”) on the terms set forth in this Agreement;

     

    NOW,
      THEREFORE, for and in consideration of the premises and the mutual covenants
      hereinafter set forth, the parties hereto do hereby agree as
      follows:

     

    1. Purchase
      of Placement Warrants.
      The
      Purchasers hereby agree, directly or through their nominees, to purchase an
      aggregate of 4,550,000 Placement Warrants at a purchase price of $1.00 per
      Placement Warrant, or an aggregate of $4,550,000 (the “Purchase Price”). Such
      purchases shall be in the names and amounts set forth on Schedule
      A
      hereto.

     

    2. Closing.
      The
      closing of the purchase and sale of the Placement Warrants (the “Closing”) will
      take place at such time and place as the parties may agree (the “Closing Date”),
      but in no event later than one business day prior to the closing date (the
“IPO
      Closing Date”) of the IPO. On or prior to the IPO Closing Date, the Purchasers
      shall pay the Purchase Price by wire transfer of funds to Loeb & Loeb,
      outside counsel for the Company. On the Closing Date, the Company shall cause
      Loeb & Loeb to transfer the Purchase Price to the trust account maintained
      by the Company’s transfer agent, acting as trustee (the “Trust Account”). The
      certificates for the Placement Warrants shall be placed into escrow pursuant
      to
      the Securities Escrow Agreement dated the Closing Date by and among the
      Company’s transfer agent and the other signatories thereto.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3. Representations
      and Warranties of the Purchasers.
      Each
      Purchaser hereby represents and warrants to the Company that:

     

    3.1 The
      execution and delivery by the Purchasers of this Agreement and the fulfillment
      of and compliance with the respective terms hereof by the Purchasers do not
      and
      shall not as of the Closing
      conflict with or result in a breach of the terms, conditions or provisions
      of
      any other agreement, instrument, order, judgment or decree to which Purchasers
      are subject to. 

     

    3.2 The
      Purchaser is an “accredited investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the Securities Act.

     

    3.3 The
      Placement Warrants are being acquired for the Purchaser’s own account, only for
      investment purposes and not with a view to, or for resale in connection with,
      any distribution or public offering thereof within the meaning of the Securities
      Act.

     

    3.4 The
      Purchaser has the full right, power and authority to enter into this Agreement
      and this Agreement is a valid and legally binding obligation of the Purchaser
      enforceable against the Purchaser in accordance with its terms.

     

    3.5 The
      Purchaser understands that no United States federal or state agency or any
      other
      government or governmental agency has passed on or made any recommendation
      or
      endorsement of the securities or the fairness or suitability of the investment
      in the securities nor have such authorities passed upon or endorsed the merits
      of the offering of the securities.

     

    4. Registration
      Rights.
      The
      Purchasers shall have registration rights pursuant to the Registration Rights
      Agreement, dated the Closing Date, by and among the Company and the Investors
      listed on the signature page thereto.

     

    5. Waiver
      of Claims Against Trust Account.
      Each Purchaser hereby waives any and all right, title, interest or claim of
      any
      kind in or to any distributions from the Trust Account with respect to any
      Ordinary Shares acquired by the Purchaser in connection with the exercise of
      the
      Placement Warrants purchased pursuant to this Agreement ("Claim") and hereby
      waives any Claim the undersigned 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 Account for any reason whatsoever.

     

    6. Legends;
      Denominations

     

    6.1 Legend.
      The
      Company will issue the Placement Warrants, and when issued the Underlying
      Shares, purchased by Purchaser in the name of Purchaser and in such
      denominations to be specified by Purchaser. The Placement Warrants and
      Underlying Shares will bear the following legend and appropriate "stop transfer"
      instructions:

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND
      NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
      FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
      OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND
      CONDITIONS CONTAINED IN A SECURITIES ESCROW AGREEMENT (THE “AGREEMENT”) AND MAY
      NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE
      TERM
      OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT).

     

    7. Forfeiture
      of Warrants.

     

    7.1. Failure
      to Consummate Business Combination.
      The
      Placement Warrants shall be forfeited to the Company in the event the Company
      does not consummate a business combination within 24 or 36 months from the
      date
      of the final prospectus relating to the Company’s IPO, as described in the
      Registration Statement.

     

    7.2. Termination
      of Rights as holder; Escrow.
      If the
      Placement Warrants are forfeited in accordance with this Section 7, then after
      such time the Purchaser (or successor in interest), shall no longer have any
      rights as a holder of such Placement Warrants, and the Company shall take such
      action as is appropriate to cancel such Placement Warrants. To effectuate the
      foregoing, all certificates representing Placement Warrants shall be held in
      escrow as provided in Section 2 hereof. In addition, Purchaser hereby
      irrevocably grants the Company a limited power of attorney for the purpose
      of
      effectuating the foregoing.

     

    8. Waiver
      and Indemnification.
      Each
      Purchaser hereby waives any and all rights to assert any present or future
      claims, including any right of rescission, against the Company or the
      underwriters in the IPO with respect to their purchase of the Placement
      Warrants, and each Purchaser agrees jointly and severally to indemnify and
      hold
      the Company and the underwriters in the IPO harmless from all losses, damages
      or
      expenses that relate to claims or proceedings brought against the Company or
      such underwriters by Purchasers of the Placement Warrants.

     

    9. Counterparts;
      Facsimile.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and all of which taken together
      shall
      constitute one and the same instrument. This Agreement or any counterpart may
      be
      executed via facsimile transmission, and any such executed facsimile copy shall
      be treated as an original.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    10. Governing
      Law.
      This
      Agreement shall for all purposes be deemed to be made under and shall be
      construed in accordance with the laws of the State of New York. Each of the
      parties 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. Each of the parties hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum.

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the ____day
      of  February, 2008.

     

    
      	 	
              ASM
                ACQUISITION COMPANY LIMITED

            
	 	 
	 	
              By:

            	                     
              
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 	 
	 	 	 
	 	
              INSIDERS:

            
	 	 
	 	
              ASM
                SPAC(1) LIMITED

            
	 	 
	 	
              By:

            	                       
              
	
               

            	Name:	 
	 	
              Title:

            	 
	 	 	 
	 	                         
              
	 	
              [●]

            	 
	 	 	 
	 	                    
              
	 	
              Kenneth
                Gaw

            
	 	 	 
	 	                   
              
	 	
              Kenneth
                Shen

            
	 	 
	 	                              
              
	 	Richard
              Gadbois

 

    
      
         

      

      
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    SCHEDULE
      A

     

    
      	
              Purchaser

            	 	
              Placement
                Warrants

            	 	
              Purchase
                Price

            	 
	
              Richard
                Gadbois 

            	 	 	
              56,875

            	 	
              $

            	
              56,875.00

            	 
	
              [●]
                

            	 	 	
              227,500

            	 	
              $

            	
              227,500.00

            	 
	
              Kenneth
                Gaw 

            	 	 	
              227,500

            	 	
              $

            	
              227,500.00

            	 
	
              Kenneth
                Shen 

            	 	 	
              284,375

            	 	
              $

            	
              284,375.00

            	 
	
              ASM
                SPAC(1) Limited

            	 	 	
              3,753,750

            	 	
              $

            	
              3,753,750.00

            	 
	
              Total:

            	 	 	
              4,550,000

            	 	
              $

            	
              4,550,000.00

            	 

    

     

    
      
         

      

      
        5Michael
          J. Gelmon

        c/o
          Britannia Law Firm

        Suite
          207, 5005 Elbow Drive S.W.

        Calgary,
          Alberta, Canada T2S 2T6

         

      

      
        
 

    

    CONSULTING
      AGREEMENT

     

    CONSULTING
      AGREEMENT (the “Agreement”) dated as of February 20, 2008 between Michael J.
      Gelmon (the “Consultant”) and DealerAdvance, Inc. (the “Client”).

    

    WITNESSETH:

    

    WHEREAS,
      Client desires to retain the services of Consultant in the United States and
      Canada (hereinafter referred to as the “Market”) with the objectives of (1)
      promoting and developing the Client’s business, (2) identifying potential
      business development partners, (3) identifying potential acquisition targets
      and
      structuring potential business acquisitions (other than any reverse merger),
      (4)
      developing new business strategies, and (5) coordinating with legal and
      accounting professionals of the Client as needed with Client’s SEC compliance
      and related matters (the “Objectives”); and, 

    

    WHEREAS,
      Consultant has the expertise necessary to accomplish the
      Objectives.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements, and upon
      the
      terms and conditions hereinafter set forth, the parties agree as
      follows:

    

    Section
      1. Retention
      of Consultant.
      Client
      engages Consultant to provide consulting services to Client as may be necessary,
      proper or advisable to achieve the Objectives, and Consultant accepts such
      engagement, subject to the terms and conditions of this Agreement. 

    

    Section
      2. Services.
      Consultant agrees to work diligently and to the best of Consultant’s knowledge,
      skill and ability to accomplish the Objectives. Consultant
      may out-source or contract for the performance of certain duties to persons
      that
      are competent and qualified to perform such duties and who shall be bound in
      writing to all of the provisions of this Agreement to the same extent as
      Consultant. Consultant
      shall keep Client fully informed of the foregoing activities; and, in general,
      cooperate with Client in connection with the foregoing activities. Consultant
      shall not provide any services in connection with the offer or sale of
      securities in a capital-raising transaction, and Consultant’s services hereunder
      shall not directly or indirectly promote or maintain a market for Client’s
      securities. In
      performing its duties, Consultant agrees to adhere to and to act in accordance
      with all applicable laws, rules and regulations, the policies and procedures
      of
      Client in effect from time to time, all written and oral instructions received
      from an authorized officer or employee of Client, and high ethical
      standards.

    

    Section
      3. Compensation.
      Promptly
      upon execution of this agreement, Client shall pay Consultant a one-time
      nonrefundable fee of $50,000
      USD
      payable in the form of 25,000,000 shares of its Common Stock, no par value
      (the
“Shares”) and file a Registration Statement on Form S-8 with the United States
      Securities and Exchange Commission (the “SEC”) to cover the resale of the Shares
      to the public. Promptly after the effective date of said registration statement,
      certificates evidencing the Shares shall be issued in the name of and delivered
      to Consultant without restrictive legend in such denominations as Consultant
      shall designate. Client will bear the costs of the registration statement and
      issuance of the Shares. As additional compensation, Client shall pay Consultant
      a monthly fee of $10,000 USD per month during the term hereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section
      4. Trade
      Secrets.
      Other than information known to the general public, all information relating
      to
      Client, whether or not set forth in tangible form, shall be treated as “Trade
      Secrets and Confidential Information.” Consultant agrees not to use or to permit
      any other person to use any of the Trade Secrets and Confidential Information
      in
      any manner except for the purposes of this Agreement. Consultant agrees to
      hold
      the Trade Secrets and Confidential Information in strict confidence, and not
      to
      disclose to any other person the Trade Secrets and Confidential Information,
      except to only those of Consultant’s contractors, agents and employees in
      furtherance of the Objectives who need to know such information, who shall
      be
      bound to all of the provisions of this agreement to the same extent as
      Consultant. Consultant agrees to take all other reasonable precautions to
      protect the Trade Secrets and Confidential Information from disclosure to any
      unauthorized third party and from any other use not authorized hereby. Upon
      termination of this Agreement, Consultant agrees to return to Client all records
      of the Trade Secrets and Confidential Information, including all copies thereof
      (other than Consultant’s accounting records). 

    

    Section
      5. Expenses.
      If
      Consultant incurs any additional expenses to facilitate the transaction,
      Consultant shall obtain the consent of Client for any single item of expense.
      Client’s consent hereunder shall not be unreasonably withheld or
      delayed.

    

    Section
      6. Full
      Cooperation.
      In
      connection with the activities of Consultant on behalf of Client, Client will
      cooperate with Consultant and will furnish Consultant and Consultant’s
      representatives with all information and data concerning Client as may be
      required in connection with Consultant’s services hereunder.

     

    Section
      7. Representations.
      Client
      warrants and represents to Consultant that this Agreement does not conflict
      with
      any other agreement that binds Client. Client warrants and represents to
      Consultant, that Client is fully authorized to offer and pay Consultant’s
      compensation referred to in Section 3 above.

     

    Section
      8. Indemnification.
      Client
      agrees to indemnify and hold harmless Consultant, and any company controlling
      Consultant or controlled by Consultant, and their respective officers, agents
      and employees to the full extent lawful, from and against any losses, claims,
      damages or liabilities (including reasonable counsel fees) related to or arising
      out of this Agreement; provided;
      however,
      that the
      indemnification provided for in this paragraph shall not apply to claims
      relating to non compliance with SEC rules and reporting and other requirements
      that the Consultant is required to comply with, which shall be the Consultant’s
      responsibility. 

    

    Section
      9. Waiver
      of Breach.
      The
      failure by Client to exercise any rights or powers hereunder shall not be
      construed as a waiver thereof. The waiver by Client of a breach of any provision
      of this Agreement by Consultant shall not operate nor be construed as a waiver
      of any subsequent breach by Consultant.

     

    
      
        
        

      

      
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    Section
      10. Notices.
      All
      notices, requests, demands and other communications, which are required or
      permitted under this Agreement, shall be in writing and shall be deemed
      sufficiently given upon receipt if personally delivered, faxed, sent by
      recognized national overnight courier or mailed by certified mail, return
      receipt requested, if to Client, at 16801 Addison Road, Suite 310, Addison,
      TX
      75001, and if to Consultant, c/o Britannia Law Firm, Suite 207, 5005 Elbow
      Drive
      S.W., Calgary, Alberta, Canada T2S 2T6. Such notices shall be deemed to be
      given
      (i) when delivered personally, (ii) one day after being sent by overnight
      courier carrier or
      (iii)
      three days after being mailed, respectively.

    

    Section
      11. Term;
      Resignation and Termination.
      The term of this Agreement shall commence on the date hereof and continue until
      March 31, 2008; provided, however, that the term of this Agreement may be
      extended for successive one month periods by mutual agreement of the parties.
      Client may terminate Consultant for cause by giving written notice in the event
      Consultant materially breaches or defaults in any of its duties, covenants
      or
      agreements as set forth herein, including a breach or default resulting from
      the
      death or disability of Consultant. Either party may terminate this Agreement
      by
      giving written notice upon the liquidation, bankruptcy or insolvency of the
      other party, an assignment for the benefit of creditors for the other party
      or
      composition of substantially all of its debts, or the appointment of a trustee
      or receiver for the business, property or affairs of the other party, or, after
      March 31, 2008, without cause upon thirty (30) days written notice.

    

    Section
      12. Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the internal
      laws of Texas.

    

    Section
      13. Entire
      Agreement; Amendments.
      This
      Agreement contains the entire agreement and understanding between the parties
      and supersedes and preempts any prior understandings or agreements, whether
      written or oral. The provisions of this Agreement may be amended or waived
      only
      with the prior written consent of Client and Consultant.

    

    Section
      14. Successors
      and Assigns.
      This
      Agreement shall be binding upon, inure to the benefit of, and shall be
      enforceable by Consultant and Client and their respective successors and
      assigns; provided, however, that the rights and obligations of Consultant under
      this Agreement shall not be assignable.

    

      
        
          
          

        

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

    

    
      	 	
              “Client”

            
	 	
              DealerAdvance,
                Inc.

            
	 	 	 
	 	
              By:
                

            	
              /s/Steven
                Humphries

            
	 	 	
              Steven
                Humphries, Chief Executive Officer

            
	 	 	 
	 	
              “Consultant”

            
	 	 	 
	 	
              By:

            	
              /s/
                Michael
                J. Gelmon

            
	 	 	
              Michael
                J. Gelmon

            

    

     

    
      
        
        

      

      
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