Document:

July
      29,
      2008

     

    

     

    ArthroCare
      Corporation

    7500
      Rialto Boulevard 

    Building
      Two, Suite 100

    Austin,
      Texas 78735

    Attention: Michael
      Gluk

    Senior
      Vice President, Chief Financial Officer

    

    
      	
            	Re:	
              Credit
                Agreement dated as of January 13, 2006 (as amended by that certain
                First
                Amendment
                dated as of December 18, 2007 and as further amended, restated,
                supplemented
                or otherwise modified prior to the date hereof, the “Credit
                Agreement”) by
                and
                among ArthroCare Corporation, a Delaware corporation, as Borrower
                (the
                “Borrower”),
                the banks and other financial institutions party thereto from time
                to
                time, as Lenders (the “Lenders”) and
                Bank of America, N.A.,
                as
                Administrative Agent, Swing Line Lender and L/C issuer
                (the “Administrative
                Agent”). Each
                capitalized term used herein but not defined herein shall be defined
                in
                accordance with the Credit
                Agreement.

            

    

     

    Dear
      Mr.
      Gluk:

     

    The
      Borrower recently advised the Administrative Agent and
      the
      Lenders that it would be restating
      is financial statements for fiscal years 2006, 2007 and the first quarter of
      2008 as
      more
fully
      described in the Borrower's 8-K filing of July 24, 2008
      (such financial restatements, collectively,
      the “Restatement”). During
      the conference call among the Borrower and the Lenders
      on July 25, 2008 concerning the Restatement, we discussed extending the
      deadline for the
      Borrower’s delivery of its quarterly financial statements for the fiscal quarter
ended
      June 30, 2008
      by
      30 days. Such
      additional time would be used by the Borrower to complete
      the Restatement.

     

    Subject
      to the terms and conditions hereof, the Administrative Agent, on behalf of
      and
      at the direction
      of Lenders constituting Required Lenders, hereby
      consents to an extension of the deadline
      for delivery of the June 30, 2008 financial statements to September 15,
      2008.

     

    Except
      as
      expressly set forth in the preceding paragraph, the Credit Agreement
and
      each
      other Loan
      Document shall remain in full force and effect, and this letter shall
not
      waive, affect, or diminish
      any right of the Administrative Agent and the Lenders to demand strict
      compliance and
      performance
      with the Credit Agreement and the other Loan Documents. In
      furtherance thereof, the
      Administrative Agent and the Lenders hereby reserve all rights and remedies,
      and
      shall
      be
      entitled, to pursue at any time and from time to time, without notice, demand
      or
any
      other
      action, any
      and
      all rights and remedies provided under the Credit Agreement and/or the
      other
      Loan Documents,
      at law, in equity or otherwise, whether or not with respect to any existing
      Events
      of
Default,
      all in the sole and absolute discretion of the Administrative Agent and the
      Lenders.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ArthroCare
      Corporation 

    Page
      2

     

    Except
      as
      expressly set forth in the preceding paragraph, neither this letter nor any
      other communication
      between the Administrative Agent and/or the Lenders, on the one hand,
and
      the
Borrower,
      on the other hand, shall be construed as a consent, waiver, forbearance
      or other modification
      with respect to any term, condition or other provision of the Agreement and/or
      any
      other
      Loan Document. Neither this letter, any other communication between the
      Administrative Agent
      and/or the Lenders, on the one hand, and the Borrower, on the other hand, nor
      any act or
      omission
      on the part off the Administrative Agent and/or the Lenders constitutes,
      or shall be deemed
      to
      constitute, a course of conduct or a course of dealing so as to justify an
      expectation by the
      Borrower that the Administrative Agent and the Lenders will not exercise
      any rights or remedies available to them with respect to any existing Event
      of
      Default or any subsequent Event of
      Default or an expectation by the Borrower that the Administrative Agent and
      the
      Lenders will waive
      any
      existing Event of Default or any subsequent Event of Default.

    

    This
      letter agreement shall be governed by, and construed in accordance with, the
      laws of the State
      of
      New York.

     

    

    
      	 	
              Very
                truly yours,

            
	 	 
	 	
              BANK
                OF AMERICA, N.A.,
                as Administrative Agent
                op behalf of the Lenders

            
	 	 
	 	
              By:
                

            	
              

            
	 	
              Name:

            	
              Charlene
                Wright-Jones

            
	 	
              Title:
                 

            	
              Assistant
                Vice PresidentNEITHER
      THE
      WARRANTS
      REPRESENTED BY THIS CERTIFICATE NOR
      THE SHARES OF COMMON STOCK HAVE
      BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“1933
      ACT”),
      OR ANY STATE SECURITIES
      LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT
      WITH RESPECT THERETO IS EFFECTIVE UNDER THE 1933 ACT,
      OR (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933
      ACT
      AND ANY APPLICABLE STATE SECURITIES LAWS
      AND THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL ACCEPTABLE TO THE
      COMPANY AS TO SUCH EXEMPTION
      OR (3) OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.
      NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
      WITH
      A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY
      THE
      SECURITIES.

    

    IN
      ADDITION, A SECURITIES PURCHASE AGREEMENT DATED AS OF AUGUST 28, 2008, AS
      AMENDED (THE “PURCHASE AGREEMENT”), A COPY OF WHICH MAY BE OBTAINED FROM THE
      COMPANY AT ITS PRINCIPAL EXECUTIVE OFFICE, CONTAINS CERTAIN ADDITIONAL
      AGREEMENTS BETWEEN THE PARTIES WITH RESPECT TO THIS
      WARRANT.

    

    
      
        

      

    

    

    UNIVERSAL
      TRAVEL GROUP

    

    COMMON
      STOCK PURCHASE WARRANT 

    

    
      	
              Number
                of Shares: [ ]

            	
              Holder:
                [ ]

            

    

     

    Original
      Issue Date: August 28,
      2008   

     

    Expiration
      Date: August 28, 2013

     

    Exercise
      Price per Share: $2.71    

    

    UNIVERSAL
      TRAVEL GROUP,
      a
      Nevada corporation (the “Company”),
      hereby certifies that, for value received, [ ],
      or
      registered assigns (the “Warrant
      Holder”),
      is
      entitled, subject to the terms set forth below, to purchase from the Company
      up
      to [
      ]
      shares (as
      adjusted from time to time as provided in Section 7 of this Warrant, the
“Warrant
      Shares”)
      of
      common stock, $.001 par value (the “Common
      Stock”),
      of
      the Company at a price of $2.71 per Warrant Share (as adjusted from time to
      time
      as provided in Section 7, the “Exercise
      Price”),
      at
      any time and from time to time from and after the date thereof and through
      and
      including 5:00 p.m. New York City time on August 28,
      2013
      (the
“Expiration
      Date”),
      and
      subject to the following terms and conditions:

     

    1. Registration
      of Warrant.
      The
      Company shall register this Warrant upon records to be maintained by the Company
      for that purpose (the “Warrant
      Register”),
      in
      the name of the record Warrant Holder hereof from time to time. The Company
      may
      deem and treat the registered Warrant Holder of this Warrant as the absolute
      owner hereof for the purpose of any exercise hereof or any distribution to
      the
      Warrant Holder, and for all other purposes, and the Company shall not be
      affected by notice to the contrary.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Investment
      Representation.
      The
      Warrant Holder by accepting this Warrant represents that the Warrant Holder
      is
      acquiring this Warrant for its own account or the account of an affiliate
that
      is
      an accredited investor which has been identified to and approved by the Company
      (such approval not to be unreasonably withheld or delayed) for
      investment purposes and not with the view to any offering or distribution and
      that the Warrant Holder will not sell or otherwise dispose of this Warrant
      or
      the underlying Warrant Shares in violation of applicable securities laws. The
      Warrant Holder acknowledges that the certificates representing any Warrant
      Shares will bear a legend indicating that they have not been registered under
      the 1933
      Act,
      and may
      not be sold by the Warrant Holder except pursuant to an effective registration
      statement or pursuant to an exemption from registration requirements of the
      1933
      Act and in accordance with federal and state securities laws. If this Warrant
      was acquired by the Warrant Holder pursuant to the exemption from the
      registration requirements of the 1933 Act afforded by Regulation S thereunder,
      the Warrant Holder acknowledges and covenants that this Warrant may not be
      exercised by or on behalf of a Person during the one year distribution
      compliance period (as defined in Regulation S) following the date hereof.
“Person”
      means an
      individual, partnership, firm, limited liability company, trust, joint venture,
      association, corporation, or any other legal entity.

     

    3. Validity
      of Warrant and Issue of Shares.
      The
      Company represents and warrants that this Warrant has been duly authorized
      and
      validly issued and warrants and agrees that all of Common Stock that may be
      issued upon the exercise of the rights represented by this Warrant will, when
      issued upon such exercise, be duly authorized, validly issued, fully paid and
      nonassessable and free from all taxes, liens and charges with respect to the
      issue thereof
      other
      than those incurred by the Holder.
      The
      Company further warrants and agrees that during the Exercise
      Period,
      the
      Company will at all times have authorized and reserved a sufficient number
      of
      shares of Common Stock to provide for the exercise of the rights represented
      by
      this Warrant.

     

    4. Registration
      of Transfers and Exchange of Warrants.

     

    a. Subject
      to compliance with the federal
      and state securities laws,
      the
      Company shall register the transfer of any portion of this Warrant in the
      Warrant Register, upon surrender of this Warrant with the Form of Assignment
      attached hereto duly completed and signed, to the Company at the office
      specified in or pursuant to Section 13. Upon any such registration or transfer,
      a new warrant to purchase Common Stock, in substantially the form of this
      Warrant (any such new warrant, a “New
      Warrant”),
      evidencing the portion of this Warrant so transferred shall be issued to the
      transferee and a New Warrant evidencing the remaining portion of this Warrant
      not so transferred, if any, shall be issued to the transferring Warrant Holder.
      The acceptance of the New Warrant by the transferee thereof shall be deemed
      the
      acceptance by such transferee of all of the rights and obligations of a Warrant
      Holder of a Warrant.

     

    b. This
      Warrant is exchangeable, upon the surrender hereof by the Warrant Holder to
      the
      office of the Company specified in or pursuant to Section 13, for one or more
      New Warrants, evidencing in the aggregate the right to purchase the number
      of
      Warrant Shares which may then be purchased hereunder. Any such New Warrant
      will
      be dated the date of such exchange.

     

    
      
        
        

      

      
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          -

        
          

        

      

      
        
        

      

    

     

    
      	 
              	
              5.

            	
              Exercise
                of Warrants.

            

    

     

    a. Upon
      surrender of this Warrant with the Form of Election to Purchase attached hereto
      duly completed and signed to the Company, at its address set forth in or
      specified pursuant to Section 13, and upon payment and delivery of the Exercise
      Price per Warrant Share multiplied by the number of Warrant Shares that the
      Warrant Holder intends to purchase hereunder (“Aggregate
      Exercise Price”),
      in
      lawful money of the United States of America, by
      wire
      transfer
      or by
      certified or official bank check or checks, to the Company, all as specified
      by
      the Warrant Holder in the Form of Election to Purchase, the Company shall
      promptly (but in no event later than 7 business days after the Date of Exercise
      (as defined herein)) issue or cause to be issued and cause to be delivered
      to or
      upon the written order of the Warrant Holder and in such name or names as the
      Warrant Holder may designate (subject to the restrictions on transfer described
      in the legend set forth on the face of this Warrant), a certificate for the
      Warrant Shares issuable upon such exercise, with such restrictive legend as
      required by the 1933 Act. Any person so designated by the Warrant Holder to
      receive Warrant Shares shall be deemed to have become holder of record of such
      Warrant Shares as of the Date of Exercise of this Warrant.

     

    b. A
      “Date
      of Exercise”
means
      the date on which the Company shall have received (i) this Warrant (or any
      New
      Warrant, as applicable), with the Form of Election to Purchase attached hereto
      (or attached to such New Warrant) appropriately completed and duly signed,
      and
      (ii) payment of the Aggregate Exercise Price for the number of Warrant Shares
      so
      indicated by the Warrant Holder to be purchased.

     

    c. This
      Warrant shall be exercisable at any time and from time to time
      during
      the exercise period
      for such
      number of Warrant Shares as is indicated in the attached Form of Election to
      Purchase. If less than all of the Warrant Shares which may be purchased under
      this Warrant are exercised at any time, the Company shall issue or cause to
      be
      issued, at its expense, a New Warrant evidencing the right to purchase the
      remaining number of Warrant Shares for which no exercise has been evidenced
      by
      this Warrant.

     

    6. Reserved. 

     

    7. Adjustment
      of Exercise Price and Number of Shares.
      The
      number of the shares of stock or other securities at the time issuable upon
      exercise of this Warrant and the Exercise Price therefore, are subject to
      adjustment upon the occurrence any of the following events which shall have
      occurred or which shall occur at any time on or after the Closing Date, as
      defined in the Securities Purchase Agreement dated [ ], and all such adjustments
      shall be cumulative:

     

    a. Adjustment
      for Stock Splits, Stock Dividends, Recapitalizations, Etc.
      The
      Exercise Price of this Warrant and the number of shares of Common Stock or
      other
      securities at the time issuable upon exercise of this Warrant shall be
      appropriately adjusted to reflect any stock dividend, stock split, stock
      distribution, combination
      of shares,
      reverse
      split,
      reclassification, recapitalization or other similar event affecting the number
      of outstanding shares of stock or securities.

     

    b. Adjustment
      for Reorganization, Consolidation, Merger, Etc.
      In case
      of any consolidation or merger of the Company with or into any other
      corporation, entity or person, or any other corporate reorganization, in which
      the Company shall not be the continuing or surviving entity of such
      consolidation, merger or reorganization (any such transaction being hereinafter
      referred to as a “Reorganization”),
      then, in
      each case, the holder of this Warrant, on exercise hereof at any time after
      the
      consummation or effective date of such Reorganization (the “Effective
      Date”),
      shall
      receive, in lieu of the shares of stock or other securities issuable upon the
      exercise of the Warrant immediately prior to such Effective Date, the stock
      and
      other securities and property (including cash) to which such holder would have
      been entitled upon the Effective Date if such holder had exercised this Warrant
      immediately prior thereto (all subject to further adjustment as provided in
      this
      Warrant). 

     

    
      
        
        

      

      
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          -

        
          

        

      

      
        
        

      

    

     

    c. Certificate
      as to Adjustments.
      In case
      of any adjustment or readjustment in the price or kind of securities issuable
      on
      the exercise of this Warrant, the Company will promptly give written notice
      thereof to the Holder of this Warrant in the form of a certificate, certified
      and confirmed by the Board of Directors of the Company, setting forth such
      adjustment or readjustment and showing in reasonable detail the facts upon
      which
      such adjustment or readjustment is based.

     

    d. Sales
      of Common Stock at less than the Exercise Price.
      From the
      date hereof until such time as the Buyers, as defined in the Securities Purchase
      Agreement, hold no Securities, as defined in the Securities Purchase Agreement,
      except for (i) issuances under Section 4(o) of the Securities Purchase
      Agreement, (ii) issuances covered by Sections 7(a) and 7(b) hereof or (ii)
      an
      issuance of Common Stock upon exercise or upon conversion of warrants, options
      or other convertible securities for which an adjustment has already been made
      pursuant to this Section 7, as to all of which this Section 7(d) does not apply,
      if the Company closes on the sale or issuance of Common Stock at a price which
      is less than the Exercise Price then in effect, or warrants, options,
      convertible debt or equity securities with an exercise price per share or a
      conversion price which is less than the Exercise Price then in effect, the
      Exercise Price shall be adjusted immediately thereafter so that it shall equal
      the price determined by multiplying the Exercise Price in effect immediately
      prior thereto by a fraction, the numerator of which shall be the sum of the
      number of shares of Common Stock outstanding immediately prior to the issuance
      of such additional shares and the number of shares of Common Stock which the
      aggregate consideration received or receivable for the issuance of such
      additional shares would purchase at the Exercise Price then in effect, and
      the
      denominator of which shall be the number of shares of Common Stock outstanding
      immediately after the issuance of such additional shares (including a pro forma
      adjustment as though all such options, warrants and other convertible securities
      had been exercised or converted). Such adjustment shall be made successively
      whenever such an issuance is made. An adjustment pursuant to this Section 7(d)
      shall not result in any change in the number of shares of Common Stock issuable
      upon exercise of this Warrant. 

     

    8. Fractional
      Shares.
      The
      Company shall not be required to issue or cause to be issued fractional Warrant
      Shares on the exercise of this Warrant. The number of full Warrant Shares that
      shall be issuable upon the exercise of this Warrant shall be computed on the
      basis of the aggregate number of Warrants Shares purchasable on exercise of
      this
      Warrant so presented. If any fraction of a Warrant Share would, except for
      the
      provisions of this Section 8, be issuable on the exercise of this Warrant,
      the
      Company shall, at its option, (i) pay an amount in cash equal to the Exercise
      Price multiplied by such fraction or (ii) round the number of Warrant Shares
      issuable, up to the next whole number.

     

    9. Sale
      or Merger of the Company.
      Upon
      a
Merger
      Transaction,
      the
      Warrant Holder will have the right to exercise this Warrant concurrently with
      such Merger
      Transaction.
      For
      purposes of this Warrant, the term “Merger
      Transaction”
shall
      mean a consolidation or merger of the Company into
      another company or entity in which the Company is not the surviving entity
      or
      the sale of all or substantially all of the assets of the Company to another
      company or entity not controlled by the then existing stockholders of the
      Company.

     

    10. Notice
      of Intent to Sell or Merge the Company.
      The
      Company will give Warrant Holder ten (10) business days notice before
any
      Merger Transaction.

     

    11. Issuance
      of Substitute Warrant.
      In the
      event of a merger, consolidation, recapitalization or reorganization of the
      Company or a reclassification of Company shares of stock, which results in
      an
      adjustment to the number of shares subject to this Warrant and/or the Exercise
      Price hereunder, the Company agrees to issue to the Warrant Holder a substitute
      Warrant reflecting the adjusted number of shares and/or Exercise Price upon
      the
      surrender of this Warrant to the Company.
      However,
      in the event that the Company does not issue a substitute warrant, the number
      and class of Warrant Shares or other securities and the Exercise Price shall
      be
      adjusted as provided in this Warrant, and this Warrant shall relate to the
      adjusted number of Warrant Shares and Exercise Price.

     

    
      
        
        

      

      
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              12.

            	
              Right
                of Redemption.

            

    

     

    
      	 	a.        
               i. 	
              The
                Company shall have the right at any time, on written notice given
                not less
                than forty five (45) days prior to the Redemption Date, to redeem
                the
                outstanding Warrants at the Redemption Price of one cent ($.01) per
                share
                of Common Stock issuable upon exercise of the Warrants, provided
                (i) the
                Market Price of the Common Stock shall equal or exceed $8.13 for
                at least
                thirty (30) Trading Days prior to the call for redemption by the
                Company,
                (ii) the shares of Common Stock of the Company are trading on a recognized
                U.S. share exchange, which shall mean the New York Stock Exchange,
                the
                American Stock Exchange or the Nasdaq Stock Market (including the
                Global
                Select, Global and Capital Markets) and (iii) the Company is current
                in
                all its reporting obligations under the Securities Exchange Act of
                1934.
                Notice of redemption shall be mailed by first class mail, postage
                prepaid,
                and sent by telecopier and e-mail not later than three (3) business
                days
                after the date the Warrants are called for redemption, and shall
                be deemed
                given on the date of receipt of the notice by the Holder. All Warrants
                must be redeemed if any Warrants are redeemed.

            

    

     

    
      	 
              	
              ii.

            	
              As
                used in this Section 12, the following terms shall have the meanings
                set
                forth below:

            

    

     

    
      	 	
              1.

            	
              “Redemption
                Date” shall mean the date on which the Warrants are to be redeemed as set
                forth in the notice of redemption from the Company to the Holders
                of the
                Warrants, as the same may be extended pursuant to Section 12(b)(ii)
                of
                this Warrant.

            

    

     

    
      	 	
              2.

            	
              “Market
                Price” shall mean the average of the Closing Ask Price and the Closing Bid
                Price of the Common Stock.

            

    

     

    
      	 	
              3.

            	
              "Closing
                Ask Price" and "Closing Bid Price" shall mean the prices reported
                as the
                closing ask price and the closing bid price (as reported by Bloomberg
                L.P.
                or, if the Common Stock is traded on the Nasdaq Stock Market or the
                New
                York or American Stock Exchange, as reported by such market or exchange),
                as of the close of the relevant Trading Day (as defined in the Securities
                Purchase Agreement) for a lot of not less than 100 shares of Common
                Stock.
                

            

    

     

    
      	 	
              b.

            	
              Notwithstanding
                any other provision of this Section
                12:

            

    

     

    
      	
            	i.	
              The
                Company may only exercise the right of redemption pursuant to Section
                12(a)(i) of this Warrant if a registration statement covering the
                sale by
                the Holder of the shares of Common Stock issuable upon exercise of
                this
                Warrant is current and effective on each day in the period commencing
                on
                the first day of call for redemption and ending sixty (60) days after
                the
                Redemption Date.

            

    

     

    
      
        
        

      

      
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            	ii.	
              In
                the event that, at any time subsequent to the date on which the Warrants
                are called for redemption and before the Redemption Date, the shares
                of
                Common Stock issuable upon exercise or conversion of the Warrants
                are not
                subject to a current and effective registration statement, the Company’s
                right to call the Warrants for redemption shall terminate with respect
                to
                all Warrants that have not then been exercised or converted. Nothing
                in
                the preceding sentence shall be construed to prohibit or restrict
                the
                Company from thereafter calling the Warrants for redemption in the
                manner
                provided for, and subject to the provisions of, this Section
                12.

            

    

     

    
      	
            	iii.	
              The
                Redemption Date shall be postponed for two (2) Trading Days for each
                day
                after the Warrants are called for redemption that the Market Price
                of the
                Common Stock is less than the $8.13; provided, however, that if the
                Market
                Price shall be less than $8.13 for ten (10) consecutive Trading Days
                or
                fifteen (15) Trading Days during the period from the date the Warrants
                are
                called for redemption to the Redemption Date, the Company’s right to
                redeem any Warrants not theretofore exercised or converted shall
                terminate, subject to the right of the Company to call the remaining
                Warrants for redemption pursuant to this Section
                12.

            

    

     

    
      	
            	c.	
              The
                notice of redemption shall specify (i) the Redemption Price, (ii)
                the
                Redemption Date, (iii) the place where the Warrants shall be delivered
                and
                the Redemption Price shall be paid, (iv) the representation required
                by
                Section 12(b)(i), (v) the number of Warrants being called for redemption,
                and (vi) that the right to exercise the Warrants shall terminate
                at 5:30
                p.m. (New York City time) on the Trading Day immediately preceding
                the
                Redemption Date. No failure to mail such notice nor any defect therein
                or
                in the mailing thereof shall affect the validity of the proceedings
                for
                such redemption except as to a Holder (x) to whom notice was not
                mailed or
                (y) whose notice was defective. An affidavit of the Chief Financial
                 Officer of the Company that notice of redemption has been mailed
                shall, in
                the absence of fraud, be prima facie evidence of the facts stated
                therein.

            

    

     

    
      	
            	d.	
              Any
                right to exercise or convert a Warrant to the extent that the Warrant
                was
                validly called for redemption shall terminate at 5:30 p.m. (New York
                City
                time) on the Redemption Date. After such time, Holders of the Warrants
                shall have no further rights except to receive, upon surrender of
                the
                Warrant, the Redemption Price without interest, subject to the provisions
                of applicable laws relating to the treatment of abandoned property.
                

            

    

     

    13. Notice.
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed to have been given (i) on the date they are delivered if delivered in
      person; (ii) on the date initially received if delivered by facsimile
      transmission followed by registered or certified mail confirmation; (iii) on
      the
      date delivered by an overnight courier service; or (iv) on the date
      of
      delivery
      after it
      is mailed by registered or certified mail, return receipt requested with postage
      and other fees prepaid as follows:

     

    If
      to
      the Company:

     

    
      	
              Universal
                Travel Group

            
	
              Attention:        

            	
              Ms.
                Jiangping Jiang

            

    

     

    
      
        
        

      

      
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              Address:
                

            	
              3/F
                Hualian Building, No. 2008 Shennan Road,

            
	 	
              Central
                Futian District,

            
	
              City & State:    

            	
              Shenzhen,
                The People’s Republic of China

            
	
              Telephone:
                

            	
              86-755-83668559

            
	
              Fax:
                

            	
              86-755-83668556

            
	
              Email:
                

            	
              01@cnutg.cn

            

    

    

    With
      a
      copy to:

     

    Sichenzia
      Ross Friedman Ference
      LLP

    61
      Broadway

    New
      York, New York 10006

    Attention:
      Benjamin Tan, Esq.

    E-mail:
      btan@srff.com

    Fax:
      (212) 930-9725

     

    If
      to
      the Warrant Holder:

    

    at
      the
      address or telecopier number and to the attention of the person shown on the
      Company’s warrant register.:

    
      
         

        14.
          Miscellaneous.

      

    

     

    a. This
      Warrant shall be binding on and inure to the benefit of the parties hereto
      and
      their respective successors and permitted assigns. This Warrant may be amended
      only by a writing signed by the Company and the Warrant Holder.

     

    b. Nothing
      in this Warrant shall be construed to give to any person or corporation other
      than the Company and the Warrant Holder any legal or equitable right, remedy
      or
      cause of action under this Warrant; this Warrant shall be for the sole and
      exclusive benefit of the Company and the Warrant Holder.

     

    c. This
      Warrant shall be governed by, construed and enforced in accordance with the
      internal laws of the State of New York without regard to the principles of
      conflicts of law thereof.

     

    d. The
      headings herein are for convenience only, do not constitute a part of this
      Warrant and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    e. In
      case
      any one or more of the provisions of this Warrant shall be invalid or
      unenforceable in any respect, the validity and enforceability of the remaining
      terms and provisions of this Warrant shall not in any way be affected or
      impaired thereby and the parties will attempt in good faith to agree upon a
      valid and enforceable provision which shall be a commercially reasonably
      substitute therefore, and upon so agreeing, shall incorporate such substitute
      provision in this Warrant.

     

    f. The
      Warrant Holder shall not, by virtue hereof, be entitled to any voting or other
      rights of a stockholder of the Company, either at law or equity, and the rights
      of the Warrant Holder are limited to those expressed in this
      Warrant.

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
      the
      authorized officer as of the date first above stated.

    

    
      	
              Date:
                August 28, 2008

            	
              UNIVERSAL
                TRAVEL GROUP

            	 
	 	 	 
              	 
	 	
              By:

            	
              
              

            	 
	 	 	
              Jiangping
                Jiang, Chief Executive Officer

            	 

    

    

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

    

    FORM
      OF ELECTION TO PURCHASE

    

    (To
      be
      executed by the Warrant Holder to exercise the right to purchase shares of
      Common Stock under the foregoing Warrant)

    

    To:
      Universal Travel Group:

    

    In
      accordance with the Warrant enclosed with this Form of Election to Purchase,
      the
      undersigned hereby irrevocably elects to purchase ______________ shares of
      Common Stock (“Common Stock”), $.001 par value, of Universal Travel Group and
      encloses the warrant and $____ for each Warrant Share being purchased or an
      aggregate of $________________ in cash or certified or official bank check
      or
      checks, which sum represents the aggregate Exercise Price (as defined in the
      Warrant) together with any applicable taxes payable by the undersigned pursuant
      to the Warrant.

    

    The
      undersigned requests that certificates for the shares of Common Stock issuable
      upon this exercise be issued in the name of:

    
      	  
	 
              
	  
	
              (Please
                print name and address)

            
	 
              
	
              (Please
                insert Social Security or Tax Identification
                Number)

            

    

     

    If
      the
      number of shares of Common Stock issuable upon this exercise shall not be all
      of
      the shares of Common Stock which the undersigned is entitled to purchase in
      accordance with the enclosed Warrant, the undersigned requests that a New
      Warrant (as defined in the Warrant) evidencing the right to purchase the shares
      of Common Stock not issuable pursuant to the exercise evidenced hereby be issued
      in the name of and delivered to:

    
      	 

	 

	 

	
              (Please
                print name and address)

            

    

     

    
      	
              Dated:                                    

            	
              Name
                of Warrant Holder:

            

    

    

    
      	
              (Print)
                

            	 
              	 
	 	 	 
	
              (By:)
                

            	 
              	 
	 	 	 
	 	 	 
	
              (Name:)
                

            	 
              	 
	 	 	 
	
              (Title:)
                

            	 
              	 
	 	 	 
	
              Signature
                must conform in all respects to name of

            	 
	
              Warrant
                Holder as specified on the face of the Warrant

            	 

    

     

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

    

    FORM
      OF ASSIGNMENT

    

    (To
      be
      executed by the Warrant Holder to exercise the right to assign all or any part
      of the right to purchase Common Stock under the foregoing Warrant. Defined
      terms
      shall have the meaning set out in the Warrant.)

    

    To:
      Universal Travel Group:

    

    In
      accordance with the Warrant enclosed with this Form of Assignment, the
      undersigned registered Warrant Holder hereby sells, assigns and transfers unto
      the Assignee named below the rights of the Warrant Holder to purchase
      ___________________________________ shares of Common Stock (“Common Stock”),
      $.001 par value, of Universal Travel Group and does hereby irrevocably
      constitute and appoint ______________________________ attorney-in-fact to make
      such transfer on the Warrant Register of Universal Travel Group., with full
      power of substitution in the premises. The Warrant Holder encloses the original
      Warrant, and, if the rights assigned hereby do not include the right to purchase
      all shares which may be purchased upon exercise of the Warrant, directs
      Universal Travel Group to issue to the Warrant Holder a New Warrant for the
      balance of the rights to shares not transferred hereunder.

    

    The
      undersigned requests that a New Warrant for the number of shares of Common
      Stock
      set out above be issued in the name of the following Assignee:

    

    
      	
              ASSIGNEE:

            
	 

	
              Name
                of Assignee

            
	 

	
              Address

            
	 

	
              Address

            
	 

	
              Telephone

            
	 

	
              Facsimile

            
	 

	
              Direct
                to attention of named person or department

            
	 

	
              Social
                Security or Tax Identification Number of Assignee

            
	  
	
              WARRANT
                HOLDER:

            
	 

	
              Name
                of Warrant Holder

            
	 
	
              By:

            
	
              Signature
                of individual Warrant Holder or

            
	
              of
                authorized officer or agent for entity

            
	 

	
              Print
                Name and Title of authorized officer or agent

            
	  

	
              Signature
                must conform in all respects to name of

            
	
              Warrant
                Holder as specified on the face of the
                Warrant

            

    

     

    
      
        
        

      

      
        -
          10
          -

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