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Exhibit 4.4    
    

 
 

WARRANT AGREEMENT    
    

        Agreement
made as of                        , 2006 between TC Acquisition Corp., a Delaware corporation, with offices at 1816 Fifth Street,
Berkeley, California 94710 (the
"Company"), and Continental Stock Transfer & Trust Company, a New York corporation, with offices at 17 Battery Place, New York, New York 10004
(the "Warrant Agent").  

        WHEREAS, the Company is engaged in a public offering ("Public Offering") of Units
("Units") and, in connection therewith, has determined to issue and deliver up to (i) 13,800,000 Warrants ("Public
Warrants") to the public investors, each of such Public Warrants evidencing the right of the holder thereof to purchase one share of common stock, par value $0.0001 per share,
of the Company's Common Stock ("Common Stock") for $5.00, subject to adjustment as described herein, (ii) 600,000 Warrants (the
"Insider Warrants") to a certain stockholder of the Company immediately prior to the Public Offering, each of such Insider Warrants evidencing the right
of the holder thereof to purchase one share of Common Stock for $5.00, subject to adjustment as described herein, and (iii) an option to purchase up to 690,000 Warrants to Merriman Curhan
Ford & Co. ("Merriman") or its designees ("Representative's Warrants" and, together with the
Public Warrants and the Insider Warrants, the "Warrants"), each such Representative's Warrant evidencing the right of the holder thereof to purchase one
share of Common Stock for $6.65, subject to adjustments as described herein; 

        WHEREAS,
the Company has filed with the Securities and Exchange Commission (the "SEC") a Registration Statement,
No. 333-126355 on Form S-1 ("Registration Statement") for the registration, under the Securities Act of 1933, as
amended ("Act") of, among other securities, the Public Warrants and the Common Stock issuable upon exercise of the Public Warrants; 

        WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer,
exchange, redemption, exercise and cancellation of the Warrants; 

        WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of
rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and 

        WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the
Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement. 

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

        1.     Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent with respect to the Company
for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

        2.     Warrants.

        2.1   Form of Warrant. Each Warrant shall be issued in registered form only evidenced by a Warrant Certificate, shall be in
substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile
signature of, the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company's seal. In the
event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be
issued with the same effect as if he or she had not ceased to be such at the date of issuance. All of the Warrants 

 

shall
initially be represented by one or more Book-Entry certificates (each a "Book Entry Warrant Certificate"). 

        2.2   Effect of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant
shall be invalid and of no effect and may not be exercised by the holder thereof. 

        2.3   Detachability of Warrants. The securities comprising the Units will not be separately transferable until the
20th trading day after the earlier to occur of the expiration of the underwriters' over-allotment option and the exercise in full by the underwriters of such option (the
"Detachment Date"), but in no event will separate trading of the securities comprising the Units be allowed until the Company files a Current Report on
Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the net proceeds of the Public Offering, including the proceeds received by the Company from the
exercise of the underwriters' over-allotment option, and the Company files a Current Report on Form 8-K and issues a press release announcing when such separate trading will begin. 

        2.4   Registration.

        2.4.1 Warrant Register. The Warrant Agent shall maintain books ("Warrant
Register"), for registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. All of the
Warrants shall initially be represented by one or more Book-Entry Warrant Certificates deposited with the Depository Trust Company (the
"Depository") and registered in the name of Cede & Co., a nominee of the Depository. Ownership of beneficial interests in the Warrants shall be
shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depository or its nominee for each Book-Entry Warrant Certificate, or
(ii) institutions that have accounts with the Depository (such institution, with respect to a Warrant in its account, a "Participant"). 

        If
the Depository subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding making other
arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the Warrants available in, book-entry form,
the Warrant Agent shall provide written instructions to the Depository to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct
the Warrant Agent to deliver to the Depository definitive Warrant Certificates in physical form evidencing such Warrants. Such definitive Warrant Certificates shall be in the form annexed hereto as  Exhibit A with appropriate insertions, modifications and omissions, as provided above. 

        2.4.2 Beneficial Owner; Registered Holder. The term "beneficial owner" shall
mean, on or after the Detachment Date, any person in whose name ownership of a beneficial interest in the Warrants evidenced by a Book-Entry Warrant Certificate is recorded in the records
maintained by the Depository or its nominee, and prior to the Detachment Date, the person in whose name the Unit to which such Warrant Certificate was initially attached as registered upon the
register relating to such Units. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant shall
be registered upon the Warrant Register (a "Registered Holder"), as the absolute owner of such Warrant and of each Warrant represented thereby
(notwithstanding any notation of ownership or other writing on the Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise 

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thereof,
and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 

        2.4.3 Warrants and Representative's Warrants. The Representative's Warrants shall have the same terms and be in the same form
as the Public Warrants and the Insider Warrants except with respect to the Warrant Price as set forth below in Section 3.1. 

        3.     Terms and Exercise of Warrants.

        3.1   Warrant Price. Each Public Warrant and Insider Warrant shall, when countersigned by the Warrant Agent, entitle the
Registered Holder thereof, subject to the provisions of (a) such Public Warrant or Insider Warrant, as the case may be, and (b) this Warrant Agreement, to purchase from the Company the
number of shares of Common Stock stated therein, at the price of $5.00 per whole share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this
Section 3.1. Each Representative's Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions of such Representative's Warrant and
of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $6.65 per whole share, subject to the adjustments provided in
Section 4 hereof. The term "Warrant Price" as used in this Warrant Agreement refers to the price per share at which Common Stock may be purchased
at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date. 

        3.2   Duration of Warrants. A Warrant may be exercised only during the period ("Exercise
Period") commencing on the later of the consummation of an acquisition by the Company, whether by merger, capital stock exchange, asset or stock acquisition or other similar
business combination, of one or more operating businesses in the technology-related sector having, individually or collectively, a fair market value (as calculated in accordance with the Company's
Amended and Restated Certificate of Incorporation) at least equal to 80% of the Company's net assets at the time of such acquisition (a "Business
Combination") and                        , 2007, and terminating at 5:00 p.m., New York City time on
the earlier to occur of (i)                         , 2011 and (ii) the
date fixed for redemption of the Warrants as provided in Section 6 of
this Agreement (subject to extension in the limited circumstances set forth in the Warrants) (the date on which the exercise period terminates, the "Expiration
Date"). Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder) in the case of a redemption by the Company, each Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of business on the
Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date. 

        3.3   Exercise of Warrants. A Registered Holder may exercise a Warrant by delivering, not later than 5:00 P.M., New York
time, on any Business Day during the Exercise Period (the "Exercise Date") to the Warrant Agent at its corporate trust department (i) the Warrant
Certificate evidencing the Warrants to be exercised, or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the "Book-Entry
Warrants") free on the records of the Depository to an account of the Warrant Agent at the Depository designated for such purpose in writing by the Warrant Agent to the
Depository from time to time, (ii) an election to purchase the Shares underlying the Warrants to be exercised ("Election to Purchase"), properly
completed and executed by the Registered Holder on the reverse of the Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in
accordance with the Depository's procedures, and (iii) the Warrant Price for each Warrant to be exercised in lawful money of the United States of America by certified or official bank check or
by bank wire transfer in immediately available funds; provided, however, that with respect to the Insider Warrants, in the 

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event
of redemption of the Warrants pursuant to Section 6 hereof, any holder of Insider Warrants may, in lieu of payment of the Warrant Price, surrender its Insider Warrants for that number of
shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the surrendered Insider Warrants, multiplied by the difference
between the Fair Market Value (defined below) and the Warrant Price by (y) the Fair Market Value. That is, for the avoidance of doubt, in no cases may a Registered Holder, including a holder of
Insider Warrants, expect or compel the Company to deliver any consideration under a Warrant other than Common Stock as described immediately above. The "Fair Market
Value" shall mean the average reported last sale price of the Common Stock for the 10 trading days ending on the 3rd trading day prior to the date on which
the notice of redemption is sent to holders of Warrant pursuant to Section 6 thereof. If any of (A) the Warrant Certificate or the Book-Entry Warrants, (B) the
Election to Purchase, or (C) the Warrant Price therefor, is received by the Warrant Agent after 5:00 P.M., New York time, on the specified Exercise Date, the Warrants will be deemed to
be received and exercised on the Business Day next succeeding the Exercise Date. If the date specified as the Exercise Date is not a Business Day, the Warrants will be deemed to be received and
exercised on the next succeeding day that is a Business Day. If the Warrants are received or deemed to be received after the Expiration Date, the exercise thereof will be null and void and any funds
delivered to the Warrant Agent will be returned to the Registered Holder or Participant, as the case may be, as soon as practicable. In no event will interest accrue on funds deposited with the
Warrant Agent in respect of an exercise or attempted exercise of Warrants. The validity of any exercise of Warrants will be determined by the Company in its sole discretion and such determination will
be final and binding upon the Registered Holder and the Warrant Agent. Neither the Company nor the Warrant Agent shall have any obligation to inform a Registered Holder of the invalidity of any
exercise of Warrants. 

        The
Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in the account of the Company maintained with the Warrant Agent for such purpose and shall advise
the Company at the end of each day on which funds for the exercise of the Warrants are received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephonic
advice to the Company in writing. 

        (i)    The
Warrant Agent shall, by 11:00 A.M. on the Business Day following the Exercise Date of any Warrant, advise the Company and the transfer agent and registrar in
respect of (a) the shares of Common Stock (the "Shares") issuable upon such exercise as to the number of Warrants exercised in accordance with
the terms and conditions of this Agreement, (b) the instructions of each Registered Holder or Participant, as the case may be, with respect to delivery of the Shares issuable upon such
exercise, and the delivery of definitive Warrant Certificates, as appropriate, evidencing the balance, if any, of the Warrants remaining after such exercise, (c) in case of a
Book-Entry Warrant Certificate, the notation that shall be made to the records maintained by the Depository, its nominee for each Book-Entry Warrant Certificate, or a
Participant, as appropriate, evidencing the balance, if any, of the Warrants remaining after such exercise and (d) such other information as the Company or such transfer agent and registrar
shall reasonably require. 

        (ii)   The
Company shall, by 5:00 P.M., New York time, on the third Business Day next succeeding the Exercise Date of any Warrant and the clearance of the funds in
payment of the Warrant Price, execute, issue and deliver to the Warrant Agent, the Shares to which such Registered Holder or Participant, as the case may be, is entitled, in fully registered form,
registered in such name or names as may be directed by such Registered Holder or the Participant, as the case may be. Upon receipt of such Shares, the Warrant Agent shall, by 5:00 P.M., New
York time, on the fifth Business Day next succeeding such Exercise Date, 

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transmit
such Shares, to or upon the order of the Registered Holder or Participant, as the case may be. 

        In
lieu of delivering physical certificates representing the Shares issuable upon exercise, provided the Company's transfer agent is participating in the Depository Fast Automated
Securities Transfer program, the Company shall use its reasonable best efforts to cause its transfer agent to electronically transmit the Shares issuable upon exercise to the Registered Holder or
Participant by crediting the account of the Registered Holder's prime broker with the Depository or of the Participant through its Deposit Withdrawal Agent Commission system. The time periods for
delivery described in the immediately preceding paragraph shall apply to the electronic transmittals described herein. Notwithstanding the foregoing, the Company shall not be obligated to deliver any
securities pursuant to the exercise of a Warrant unless a registration statement under the Act with respect to the Common Stock issuable upon exercise of the Public Warrants is effective (and the
prospectus contained therein is available for use). Warrants may not be exercised by, or securities issued to, any Registered Holder in any state in which such exercise would be unlawful. The exercise
of the Warrants may only be settled by delivery of shares of Common Stock and the Registered Holders shall not be entitled to the payment of cash in lieu of shares of Common Stock (net cash
settlement) upon exercise of the Warrants pursuant to the terms of this Agreement or the Warrants regardless of whether the Common
Stock underlying the Warrants is registered pursuant to an effective registration statement (and a prospectus relating thereto is available for use). 

        (iii)  The
accrual of dividends, if any, on the Shares issued upon the valid exercise of any Warrant will be governed by the terms generally applicable to the Shares. From
and after the issuance of such Shares, the former Registered Holder of the Warrants exercised will be entitled to the benefits generally available to other holders of Shares and such former Registered
Holder's right to receive payments of dividends and any other amounts payable in respect of the Shares shall be governed by, and shall be subject to, the terms and provisions generally applicable to
such Shares. 

        (iv)  Warrants
may be exercised only in whole numbers of Shares. No fractional shares of Common Stock are to be issued upon the exercise of the Warrant, but rather the number
of shares of Common Stock to be issued shall be rounded up to the nearest whole number. If fewer than all of the Warrants evidenced by a Warrant Certificate are exercised, a new Warrant Certificate
for the number of unexercised Warrants remaining shall be executed by the Company and countersigned by the Warrant Agent as provided in Section 2 hereof, and delivered to the holder of this
Warrant Certificate at the address specified on the books of the Warrant Agent or as otherwise specified by such Registered Holder. If fewer than all the Warrants evidenced by a Book-Entry
Warrant Certificate are exercised, a notation shall be made to the records maintained by the Depository, its nominee for each Book-Entry Warrant Certificate, or a Participant, as
appropriate, evidencing the balance of the Warrants remaining after such exercise. 

        (v)   The
Company shall not be required to pay any stamp or other tax or governmental charge required to be paid in connection with any transfer involved in the issue of the
Shares upon the exercise of Warrants; and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any Shares until such tax or other charge shall have
been paid or it has been established to the Company's satisfaction that no such tax or other charge is due. 

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

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

        4.     Adjustments.

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

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

        4.3   Adjustments in Warrant Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants
is adjusted, as provided in Section 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the
denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter. 

        4.4   Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
shares of Common Stock (other than a change covered by Section 4.1 or 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or
consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or
substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby,
the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following
any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification also
results in a change in shares of Common Stock covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The provisions of
this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 

        4.5   Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise
of a Warrant, the Company shall give written notice 

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

        4.6   No Fractional Shares. Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company
shall not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of
such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round up to the nearest whole number the number of the shares of Common Stock to be issued to the
Warrant holder. 

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

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        5.     Transfer and Exchange of Warrants.

        5.1   Transfer of Warrants. Prior to the Detachment Date, Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, prior to the Detachment Date, each transfer of a
Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. From and after the Detachment Date, this Section 5.1 shall be of no further force
and effect. 

        5.2   Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant
upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such
transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be canceled by the Warrant Agent. The Warrants so canceled shall be delivered by
the Warrant Agent to the Company from time to time upon request. 

        5.3   Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request
for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant Certificate, each Book-Entry Warrant Certificate
may be transferred only in whole and only to the Depository, to another nominee of the Depository, to a successor depository, or to a nominee of a
successor depository; provided further, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new
Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a
restrictive legend. Upon any such registration of transfer, the Company shall execute, and the Warrant Agent shall countersign and deliver, in the name of the designated transferee a new Warrant
Certificate or Warrant Certificates of any authorized denomination evidencing in the aggregate a like number of unexercised Warrants. 

        5.4   Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which
will result in the issuance of a warrant certificate for a fraction of a Warrant. 

        5.5   Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants. 

        5.6   Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in
accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, will
supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

        6.     Redemption.

        6.1   Redemption. Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the
option of the Company, at any time after they become exercisable and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$0.01 per Warrant (the "Redemption Price"), provided that (a) the last sales price of the Common Stock has been at least $8.50 per share for any
twenty (20) trading days within a thirty (30) trading day period ending on the third Business Day prior to the date on which notice of redemption is given, and (b) a registration
statement under the Act relating to the shares 

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of
common stock issuable upon exercise of the Warrants is effective and expected to remain effective until the redemption date and a prospectus relating to the shares of common stock issuable upon
exercise of the Warrants is available for use and expected to remain available for use until the Redemption Date. 

        6.2   Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the
Company shall fix a date for redemption (the "Redemption Date"). Notice of redemption shall be mailed by first class mail, postage prepaid, by the
Company not less than thirty (30) days prior to the date fixed for redemption to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the
Warrant Register (the "Redemption Notice"). Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given on
the date sent whether or not the Registered Holder received such notice. 

        6.3   Exercise After Notice of Redemption. The Warrants may be exercised in accordance with Section 3 of this Agreement
at any time after the Redemption Notice shall have been given by the Company pursuant to Section 6.2 hereof and prior to the time and date fixed for redemption. On and after the Redemption
Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 

        6.4   Outstanding Warrants Only. The Company understands that the redemption rights provided for by this Section 6 apply
only to outstanding Warrants. To the extent a person holds rights to purchase Warrants, such purchase rights shall not be extinguished by redemption. However, once such purchase rights are exercised,
the Company may redeem the Warrants issued upon such exercise provided that the criteria for redemption is met. 

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

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

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

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

        7.4   Registration of Common Stock. The Company agrees that prior to the commencement of the Exercise Period, it shall file
with the SEC a post-effective amendment to the Registration Statement, or a new registration statement, for the registration, under the Act, of, and it shall take such action as is
necessary to qualify for sale, in those states in which the sale of the Warrants was initially qualified, the Common Stock issuable upon exercise of the Warrants. In either case, the Company will use
its reasonable best efforts to cause such Registration Statement to become effective and to maintain the effectiveness of such registration statement until the expiration of the Warrants in accordance
with the provisions of this Agreement. The provisions of this Section 7.4 may not be modified, amended or deleted without the prior written consent of Merriman. 

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        8.     Concerning the Warrant Agent and Other Matters.

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

        8.2   Resignation, Consolidation, or Merger of Warrant Agent.

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

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

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

        8.3   Fees and Expenses of Warrant Agent.

        8.3.1 Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant
Agent hereunder and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

        8.3.2 Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed,
executed, acknowledged, and delivered all such further acts, 

10

 

instruments,
and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

        8.4   Liability of Warrant Agent.

        8.4.1 Reliance on Company Statement. Whenever in the performance of its duties under this Warrant Agreement, the Warrant
Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer or Chairman of the Board of the
Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 

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

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

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

        8.6   The
Warrant Agent hereby waives any and all right, title, interest or claim of any kind ("Claim") in or to any
distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and the Warrant Agent as trustee
thereunder), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. 

        9.     Miscellaneous Provisions.

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

        9.2   Notices. Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or
by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail 

11

 

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

TC
Acquisition Corp.

1816 Fifth Street

Berkeley, California 94710

Attn: Robert J. Majteles 

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

Continental
Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn: Compliance Department 

with
a copy in each case to: 

Lowenstein
Sandler PC

65 Livingston Avenue

Roseland, New Jersey 07068

Attn: John D. Hogoboom, Esq. 

        9.3   Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in
all respects by the laws of the State of New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in
any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to
such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenience forum. Any such process
or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set
forth in Section 9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. 

        9.4   Persons Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any
of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders and, for the purposes of
Sections 6.4 and 7.4 hereof, Merriman, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. Merriman shall
be deemed to be a third-party beneficiary of this Agreement with respect to Sections 6.4 and 7.4 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant
Agreement shall be for the sole and exclusive benefit of the parties hereto (and Merriman with respect to the Sections 6.4 and 7.4 hereof) and their successors and assigns and of the Registered
Holders of the Warrants. 

        9.5   Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit his
Warrant for inspection by it. 

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

        9.7   Effect of Headings. The Section headings herein are for convenience only and are not part of this Warrant Agreement and
shall not affect the interpretation thereof. 

12

 

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

	 
	 
	 	 

	Attest:	TC ACQUISITION CORP.
	

	

By:	
 	

	 	Name:	 	Robert J. Majteles
	 	Title:	 	President and Chief Executive Officer
	

Attest:	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	

	

By:	
 	

	 	Name:	 	Steven Nelson
	 	Title:	 	Chairman

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Exhibit 4.4    
    

 
 

Exhibit A
  Form of Warrant    

14

QuickLinks

Exhibit 4.4

WARRANT AGREEMENT

Exhibit 4.4

Exhibit A Form of WarrantQuickLinks
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Exhibit 4.5    
    

FORM OF UNDERWRITER PURCHASE OPTION  

        THE HOLDER (AS DEFINED HEREIN) OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS
HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD OF 180 DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) MERRIMAN CURHAN FORD & CO. ("MCF") OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE PUBLIC OFFERING (DEFINED BELOW),
OR (II) A BONA FIDE OFFICER OR PARTNER OF MCF OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER. 

        THIS
PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF (I) THE CONSUMMATION BY TC ACQUISITION CORP. ("COMPANY") OF A MERGER, CAPITAL STOCK EXCHANGE, ASSET OR STOCK
ACQUISITION OR OTHER SIMILAR BUSINESS COMBINATION ("BUSINESS COMBINATION") (AS DESCRIBED MORE FULLY IN THE COMPANY'S REGISTRATION STATEMENT (DEFINED HEREIN)) AND (II)
                         , 2007.
VOID AFTER 5:00 P.M. EASTERN TIME,                        , 2011. 

UNIT PURCHASE OPTION  

FOR THE PURCHASE OF  

UP TO 345,000 UNITS  

OF  

TC ACQUISITION CORP.  

1.     PURCHASE OPTION. 

        THIS CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of Merriman Curhan Ford & Co. ("MCF"), as registered owner
of this purchase option ("Purchase Option"), to TC Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of (i) the consummation of a Business
Combination and (ii)                         , 2007 ("Commencement Date"), and at or before 5:00 p.m., Eastern Time,
                        , 2011 ("Expiration Date"), but not thereafter, to subscribe
for, purchase and receive, in whole or in part, up to 345,000 units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 per share ("Common
Stock"), and two warrants ("Warrants") expiring five years from the effective date ("Effective Date") of the registration statement ("Registration Statement") pursuant to which Units are offered for
sale to the public ("Public Offering"). Each Warrant shall be substantially the same as the warrants included in the Units being registered for sale to the public by way of the Registration Statement
("Public Warrants"), except that the Warrants have an exercise price of $6.65 per share, subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking
institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. 

1

 

        During
the period ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase Option. This Purchase Option is initially exercisable at
$7.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise
price per Unit and the number of Units (and shares of Common Stock and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the
initial exercise price or the adjusted exercise price, depending on the context. 

        The
term "Holder" shall mean, as of any date, MCF and/or any transferee who acquired this Purchase Option(s) in accordance with Section 3.1 hereof. 

        As
used herein, the term "Business Day" shall mean any day, except a Saturday, Sunday or legal holiday on which the banking institutions in the City of New York are authorized or
obligated by law or executive order to close. 

2.     EXERCISE. 

        2.1   Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto as Exhibit A must be
duly executed and completed and delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable in cash or by certified check or
official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date this Purchase Option shall become and be
void without further force or effect, and all rights represented hereby shall cease and expire. 

        2.2   Legend. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows unless
such securities have been registered under the Securities Act of 1933, as amended ("Act"): 

"The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended ("Act") or applicable state law. The securities may not be offered for sale, sold
or otherwise transferred, in whole or in part, except pursuant to an effective registration statement under the Act, or pursuant to an exemption from registration under the Act and applicable state
law." 

        2.3   Cashless Exercise. 

        2.3.1 Determination of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this
Purchase Option is exercisable (and in lieu of being entitled to receive Units) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any
exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment
by the Holder of any of the Exercise Price in cash) that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of this Purchase Option
being converted by (y) the "Current Market Price" (as defined below) of a Unit. The "Value" of the portion of this Purchase Option being converted shall equal the remainder derived from
subtracting (a) the product of (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the
product of (i) the Current Market Price of a Unit multiplied by (ii) the number of Units underlying the portion of the Purchase Option being converted. The "Current Market Price" of a
Unit at any date shall mean (i) if the Units are listed on a national securities exchange or quoted on the Nasdaq Global Market, Nasdaq Capital Market or NASD OTC Bulletin Board (or successor
such as the Bulletin Board Exchange), the average closing price of a Unit for the thirty (30) days immediately preceding the date of determination of the Current Market Price in the 

2

 

principal
trading market for the Units as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Units are not listed on a national securities exchange or quoted on the
Nasdaq Global Market, Nasdaq Capital Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but are traded in the residual over-the-counter
market, the closing bid price for a Unit on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations;
and (iii) if the fair market value of the Units cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in
good faith. 

        2.3.2 Mechanics of Cashless Exercise. The cashless exercise right described in this Section 2.3 (the "Cashless
Exercise Right") may be exercised by the Holder on any business day on or after the Commencement Date and not later than the Expiration Date by delivering this Purchase Option with the duly executed
exercise form attached hereto with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number of Units the Holder will purchase
pursuant to such Cashless Exercise Right. 

        2.4   Warrant Exercise. Any Warrants underlying the Units shall be issued pursuant to and subject to the terms and conditions
set forth in the Warrant Agreement, entered into by and between the Company and Continental Stock Transfer & Trust Company, dated as
of                        , 2006 (the "Warrant Agreement");
provided, that the exercise price of the Warrants shall be as set forth herein. 

        2.5   Net Cash Settlements. In no event will the Company be required to net cash settle the exercise of the Purchase Option or
the Warrants underlying the Purchase Option, regardless of whether any or all of the Registrable Securities have been registered by the Company pursuant to an effective registration statement. The
holder of the Purchase Option and the Warrants underlying the Purchase Option will not be entitled to exercise the Purchase Option or the Warrants underlying such Purchase Option unless a registration
statement is effective, or an exemption from the registration requirements is available at such time and, if the holder is not able to exercise the Purchase Option or underlying Warrants, the Purchase
Option and/or the underling Warrants, as applicable, will expire worthless. 

3.     TRANSFER. 

        3.1   General Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not
sell, transfer, assign, pledge, hypothecate or otherwise dispose of this Purchase Option for a period of 180 days following the Effective Date to anyone other than (i) an underwriter or
a selected dealer participating in the Public Offering, or (ii) a bona fide officer, partner, subsidiary or other affiliate of any such underwriter or selected dealer. On and after the 180th
day following the Effective Date, this Purchase Option may be sold, transferred, assigned, pledged, hypothecated or otherwise disposed of, in whole or in part, subject to compliance with or exemptions
from applicable securities laws; provided that any transfer to any person other than (i) an underwriter or a selected dealer participating in the Public Offering, or (ii) a bona fide
officer, partner, subsidiary or other affiliate of any such underwriter or selected dealer shall be subject to the prior written consent of the Company (which consent shall not be unreasonably
withheld). In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto as Exhibit B duly executed and completed and the written
agreement of the transferee to be bound by the terms of this Section 3.1, together with this Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The
Company shall as soon as reasonably practicable transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase Option or Purchase Options of like tenor to the
appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units purchasabe hereunder or such portion of such number as shall be contemplated by any such assignment. 

3

 

        3.2   Restrictions Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and
until (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Act and applicable state
securities laws, the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Cooley Godward llp shall be deemed satisfactory
evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such securities has been
filed by the Company and declared effective by the Securities and Exchange Commission and compliance with applicable state securities law has been established. 

4.     NEW PURCHASE OPTIONS TO BE ISSUED. 

        4.1   Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be
exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation, together with the duly executed
exercise or assignment form and funds sufficient to pay any Exercise Price (except to the extent the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided by
Section 2.3 above) and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this Purchase Option in the name of the
Holder evidencing the right of the Holder to purchase the number of Units purchasable hereunder as to which this Purchase Option has not been exercised or assigned. 

        4.2   Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or
mutilation of this Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Option of like tenor and date. Any such
new Purchase Option executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company. 

5.     REGISTRATION RIGHTS. 

        5.1   Demand Registration. 

        5.1.1 Grant of Right. The Company, upon written demand ("Initial Demand Notice") of the Holder(s) of at least 51% of the
Purchase Options and/or the underlying Units and/or the underlying securities ("Majority Holders"), agrees to register on one occasion, all or any portion of the Purchase Options requested by the
Majority Holders in the Initial Demand Notice and all of the securities underlying such Purchase Options, including the Units, Common Stock, the Warrants and the Common Stock underlying the Warrants
(collectively, the "Registrable Securities"). On such occasion, the Company will file a registration statement or a post-effective amendment to the Registration Statement covering
the Registrable Securities within sixty days after receipt of the Initial Demand Notice and use its reasonable best efforts to have such registration statement or post-effective amendment
declared effective as soon as possible thereafter; provided, that, if the Chief Executive Officer of the Company furnishes to the Majority Holders a certificate stating in good faith that the Company
expects to file a registration statement (other than a registration statement relating to any employee benefit plan, or a registration statement related solely to stock issued upon conversion
of debt securities) within 90 days of the Company's receipt of the Initial Demand Notice and is exercising its right to delay the filing of a Registration Statement during the resulting
Blackout Period (defined below) (the "Blackout Period Certificate") within five (5) Business Days after it receives the Initial Demand Notice then (i) the Company shall not be required
to take any action pursuant to this section 5.1 during such Blackout Period provided that the Company is actively employing in good faith all reasonable efforts to cause such registration
statement to become effective, (ii) the Initial Demand Notice shall be deemed received, for 

4

 

purposes
of determining the availability of registration rights of the Holders under this Section 5.1, when actually received by the Company, and (iii) the Initial Demand Notice shall be
deemed received, for purposes of determining the timing of any obligation of the Company under this Section 5.1, on the first Business Day immediately succeeding the conclusion of such Blackout
Period. The Initial Demand Notice for registration may be made at any time during a period of five years beginning on the Effective Date; provided, that the Majority Holders may not deliver an Initial
Demand Notice pursuant to this Section 5.1.1 prior to the consummation of a Business Combination. The Company shall give written notice of its receipt of any Initial Demand Notice by any
Holder(s) to all other registered Holders of the Purchase Options and/or the Registrable Securities within ten days from the date of the receipt of any such Initial Demand Notice. Once made, a request
for registration pursuant to an Initial Demand Notice provided in accordance with this Section 5.1.1 may not be revoked, except that such a request for registration pursuant to an Initial
Demand Notice may be revoked (and shall not be deemed to have been made for purposes of determining the rights of the Holders under this Section 5.1.1) by the Majority Holders if (i) the
Majority Holders have received a notice of a Blackout Period from the Company and (ii) the Majority Holders provide written notice to the Company within sixty (60) days of receipt of any
such notice of a Blackout Period requesting such revocation for the purpose of preserving the right to request registration pursuant to an Initial Demand Notice at a time subsequent thereto. For
purposes of this Section 5, "Blackout Period" means a period not to exceed (90) days beginning on the date the Company's Chief Executive Officer furnishes to the Majority Holder the
Blackout Period Certificate; provided that in the event the Company in fact files such registration statement within such 90-day period, such period shall terminate on the last day of the
distribution period of such primary offering of securities. The Company may not delay the ability of the Majority Holders to exercise any of their rights under this Purchase Option by way of giving
notice of a Blackout Period more than once in any 12 month period, and any notice of a Blackout Period given by the Company to the Majority Holders cannot come less than six months after a
previous Blackout Period notice given by the Company. Notwithstanding anything to the contrary herein, a request for registration pursuant to an Initial Demand Notice shall not be deemed to have been
made for purposes of determining the rights of the Holders under this Section 5.1.1 if (i) the Majority Holders have requested registration pursuant to an Initial Demand Notice and
(ii) such registration has not occurred
as a result of the Company's failure to comply with its obligations under this Section 5.1. For the avoidance of doubt, subject to the other terms and conditions set forth herein, the Company
is required to effect only one (1) registration at the request of the Majority Holders under this Section 5.1.1 that is declared or ordered effective. 

        5.1.2 Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the
reasonable fees and expenses of one legal counsel selected by the Majority Holders to represent them in connection with the sale of the Registrable Securities, but the Majority Holders shall pay any
and all underwriting discounts and commissions. The Company agrees to use its reasonable best efforts to qualify or register the Registrable Securities in such States as are reasonably requested by
the Majority Holder(s); provided, however, that in no event shall the Company be required to register the Registrable Securities in a State in which such registration would cause (i) the
Company to be obligated to qualify to do business in such State, or would subject the Company to taxation as a foreign corporation doing business in such jurisdiction or (ii) the principal
stockholders of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any registration statement or post-effective amendment filed
pursuant to the demand rights granted under Section 5.1.1 to remain effective for a period of nine consecutive months from the effective date of such registration statement or
post-effective amendment. 

5

 

        5.2   "Piggy-Back" Registration. 

        5.2.1 Grant of Right. In addition to the demand right of registration, the Holders of the Purchase Options shall have the
right for a period of seven years commencing on the Effective Date, to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection
with a transaction contemplated by Rule 145(a) promulgated under the Act or pursuant to Form S-8); provided, however, that if the managing underwriter or underwriters for
such offering that is to be an underwritten offering advises the Company and the Holders in writing that the dollar amount or number of Registrable Securities that the Holders desire to sell, taken
together with all other shares of Common Stock or other securities that the Company desires to sell and the shares of Common Stock, if any, as to which registration has been requested pursuant to
written contractual piggy-back registration rights held by other holders of the Company's securities who desire to sell securities, exceeds the maximum dollar amount or maximum number of
shares that can be sold in such offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum
dollar amount or maximum number of shares, as applicable, the "Maximum Number of Shares"), then the Company shall include in such registration: 

        (i)    If the registration is undertaken for the Company's account or is a "demand" registration undertaken at the demand of
persons who were stockholders of the Company prior to the consummation of its initial public offering (the "Initial Stockholders") pursuant to the Registration Rights Agreement, dated as of
                        , 2006, by and among the Company and the stockholders party thereto (the "Registration Rights
Agreement"), (A) first, the shares of Common Stock for the account of the demanding Initial Stockholders ("Insider Shares") as to which the demand registration has been requested pursuant to
the Registration Rights Agreement, together with all other shares of Common Stock or other securities that the Company desires to sell and the Registrable Securities as to which registration has been
requested pursuant to this Section 5.2 (all pro rata in accordance with the number of shares that the Holders, the Company, and/or the Initial Stockholders shall have requested to be included
in such registration), that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Stock, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights which other shareholders
desire to sell that can be sold without exceeding the Maximum Number of Shares; and (C) third, to the extent the Maximum Number of Shares has not been reached under the foregoing clauses
(A) and (B), the shares of Common Stock, if any, that other stockholders desire to sell that can be sold without exceeding the Maximum Number of Shares; and 

        (ii)   If the registration is a "demand" registration undertaken at the demand of persons other than the holders of Registrable
Securities or the Initial Stockholders pursuant to written contractual arrangements with such persons, (A) first, the shares of Common Stock for the account of the demanding persons as to which
demand registration has been requested, together with all other shares of Common Stock or other securities that the Company desires to sell, the Registrable Securities as to which registration has
been requested pursuant to this Section 5.2, and the Insider Shares as to which registration has been requested pursuant to the Registration Rights Agreement (all pro rata in accordance with
the number of shares that the demanding stockholders, the Holders, the Company, and/or the Initial Stockholders shall have requested to be included in such registration), that can be sold without
exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the shares of Common Stock, if
any, as 

6

 

to
which registration has been requested pursuant to written contractual piggy-back registration rights which other shareholders desire to sell that can be sold without exceeding the
Maximum Number of Shares; and (C) third, to the extent the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock, if any, that
other stockholders desire to sell that can be sold without exceeding the Maximum Number of Shares. 

        5.2.2 Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the
expenses of one legal counsel selected by a majority of the Holders to represent them in connection with the sale of the Registrable Securities but the Holders shall pay any and all underwriting
discounts and commissions related to the Registrable Securities. In the event of such a proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities with not
less than fifteen days written notice prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each applicable registration
statement filed (during the period in which this Purchase Option is exercisable) by the Company until such time as all of the Registrable Securities have been registered and sold. The holders of the
Registrable Securities shall exercise the "piggy-back" rights provided for herein by giving written notice, within ten days of the receipt of the Company's notice of its intention to
file a registration statement. 

        5.3   Suspension of Use of Effective Registration Statement. If a registration statement relating to the registration of
Registrable Securities under this Section 5 hereof has been declared effective ("Effective Registration Statement"), subject to the good faith determination by the Board of Directors of the
Company that it is reasonably necessary to suspend the use of such Effective Registration Statement or sales of Registrable Securities by Holders under such Effective Registration Statement, the
Company may, upon written notice (the "Suspension Notice") to the Holders, direct the Holders to suspend the use of or sales under such Effective Registration Statement for a period not to exceed
thirty (30) days in any three (3) month period or ninety (90) days in the aggregate in any twelve (12) month period, if any of the following events (each, a "Suspension
Event") shall occur: negotiations relating to, or the consummation of, a transaction or the occurrence of an event, in each case, that (i) would require additional disclosure of material
information by the Company in such Effective Registration Statement or other public filings and which has not been so disclosed, and (ii) either (x) as to which the Company has a bona
fide business purpose for preserving confidentiality, or (y) that renders the Company unable to comply with SEC requirements or (z) that would make it unduly burdensome to promptly amend
or supplement such Effective Registration Statement on a post-effective basis, as applicable. Upon the occurrence of any such Suspension Event, the Company shall use its reasonable best
efforts to take or cause to be taken such action as is necessary to permit resumed use of such Effective Registration Statement promptly following the cessation of the Suspension Event giving rise to
such suspension so as to permit the Holders to resume use of and sales under such Effective Registration Statement as soon as practicable thereafter. Upon cessation of the Suspension Event giving rise
to such suspension, the Company shall provide the Holders with prompt written notice that the Suspension Event has ceased (the "End of Suspension Notice"). 

        The
Holders shall not effect any sales of the Registrable Securities pursuant to such Effective Registration Statement at any time after it has received a Suspension Notice from the
Company and prior to receipt of an End of Suspension Notice. If so directed by the Company in a Suspension Notice, each Holder will deliver to the Company (at the expense of the Company) all copies,
other than permanent file copies then in such Holder's possession, of any prospectuses covering the Registrable Securities at the time of receipt of such Suspension Notice. 

        5.4   General Terms. 

7

 

        5.4.1 Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any
registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934,
as amended ("Exchange Act"), against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and other expenses reasonably incurred in investigating, preparing or
defending against litigation, commenced or threatened, or any claim whatsoever whether arising out of any action between the underwriter and the Company or between the underwriter and any third party
or otherwise) to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the
provisions pursuant to which the Company has agreed to indemnify the underwriters contained in Section 5 of the Underwriting Agreement between the Company, MCF and the other underwriters named
therein dated the Effective Date. The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly,
indemnify the Company, its officers and directors and each person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act,
against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and other expenses reasonably incurred in investigating, preparing or defending against any claim
whatsoever) to which they may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in
writing, for specific inclusion in such registration statement but only to the same extent and with the same effect as the provisions contained in Section 5 of the Underwriting Agreement
pursuant to which the underwriters have agreed to indemnify the Company. 

        5.4.2 Exercise of Purchase Options. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s)
to exercise their Purchase Options or Warrants underlying such Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof. 

        5.4.3 Documents Delivered to Holders. The Company shall furnish MCF, as representative of the Holders participating in any of
the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and,
if such registration includes an underwritten public offering, an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a "cold comfort" letter dated
the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter dated the date of the closing under the underwriting agreement) signed
by the independent public accountants who have issued a report on the Company's financial statements included in such registration statement, in each case covering substantially the same matters with
respect to such registration statement (and the prospectus included therein) and, in the case of such accountants' letter, with respect to events subsequent to the date of such financial statements,
as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to underwriters in underwritten public offerings of securities. The Company shall also deliver promptly
to MCF, as representative of the Holders participating in the offering, the correspondence and memoranda described below and copies of all correspondence between the Commission and the Company, its
counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit MCF, as representative of the Holders, to do such
investigation, upon reasonable advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities
laws or rules of the National Association of Securities Dealers, Inc. ("NASD"). Such investigation shall include access to books, records and properties and opportunities to discuss the
business of the Company with its officers and independent auditors, all to such reasonable extent and at such 

8

 

reasonable
times and as often as MCF, as representative of the Holders, shall reasonably request. The Company shall not be required to disclose any confidential information or other records to MCF, as
representative of the Holders, or to any other person, until and unless such persons shall have entered into reasonable confidentiality agreements (in form and substance reasonably satisfactory to the
Company), with the Company with respect thereto. 

        5.4.4 Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if
any, selected by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably acceptable to the Company. Such
agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the
Company and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating to an
underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such
underwriters shall also be made to and for the benefit of such Holders; provided that the foregoing shall not be deemed to permit such Holders to negotiate the terms of the underwriting agreement (in
their capacity as Holders). Such Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate to such Holders
and their intended methods of distribution. Such Holders, however, shall agree to such covenants and indemnification and contribution obligations for selling stockholders as are customarily contained
in agreements of that type used by the managing underwriter. Further, such Holders shall execute appropriate custody agreements and otherwise cooperate fully in the preparation of the registration
statement and other documents relating to any offering in which they include securities pursuant to this Section 5. Each Holder shall also furnish to the Company such information regarding
itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be reasonably required to effect the registration of the Registrable Securities. 

        5.4.5 Rule 144 Sale. Notwithstanding anything contained in this Section 5 to the contrary, the Company shall
have no obligation pursuant to Sections 5.1 or 5.2 for the registration of Registrable Securities held by any Holder (i) where such Holder would then be entitled to sell under Rule 144
promulgated under the Act ("Rule 144") within any three-month period (or such other period prescribed under Rule 144 as may be provided by amendment thereof) all of the Registrable
Securities then held by such Holder, and (ii) where the number of Registrable Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144
(calculated as if such Holder were an affiliate within the meaning of Rule 144). 

        5.4.6 Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any
event as a result of which the prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities until such Holder's receipt of the copies of a supplemental or amended prospectus, and, if so desired by the Company, such
Holder shall deliver to the Company (at the expense of the Company) or destroy (and deliver to the Company a certificate of such destruction) all copies, other than permanent file copies then in such
Holder's possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. 

        5.4.7 Holder Obligations. No Holder may participate in any underwritten offering pursuant to this Section 5 unless
such Holder (i) agrees to sell only the Holder's Registrable Securities on the basis reasonably provided in any underwriting agreement, and (ii) completes, executes and delivers 

9

 

any
and all questionnaires, powers of attorney, custody agreements, indemnities, underwriting agreements and other documents reasonably and customarily required by or under the terms of any
underwriting agreement. 

6.     ADJUSTMENTS. 

        6.1   Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying this
Purchase Option shall be subject to adjustment from time to time as hereinafter set forth: 

        6.1.1 Stock Dividends—Split-Ups. If after the date hereof, and subject to the provisions of
Section 6.4 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock or by a split-up of shares of Common Stock or
other similar event, then, on the effective date thereof, the number of shares of Common Stock underlying each of the Units purchasable hereunder shall be increased in proportion to such increase in
outstanding shares. In such case, the number of shares of Common Stock, and the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be
adjusted in accordance with the terms of the Warrants. For example, if the Company declares a two-for-one stock dividend and at the time of such dividend this Purchase Option
is for the purchase of one Unit at $7.50 per whole Unit (each Warrant underlying the Units is exercisable for $6.65 per share), upon effectiveness of the dividend, this Purchase Option will be
adjusted to allow for the purchase of one Unit at $7.50 per Unit, each Unit entitling the holder to receive two shares of Common Stock and four Warrants (each Warrant exercisable for $3.33 per share). 

        6.1.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 6.4, the number of
outstanding shares of Common Stock is decreased by a consolidation, combination or reclassification of shares of Common Stock or other similar event, then, on the effective date thereof, the number of
shares of Common Stock underlying each of the Units purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares. In such case, the number of shares of Common Stock,
and the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants. 

        6.1.3 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the
outstanding shares of Common Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such shares of Common Stock, or in the case of any merger
or consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any
reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as an entirety
or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter (until the expiration of the right of exercise of
this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the
number of shares of Common Stock of the Company obtainable upon exercise of this Purchase Option and the underlying Warrants immediately prior to such event; and if any reclassification also results
in a change in shares of Common Stock covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of
this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 

10

 

        6.1.4 Changes in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to
this Section, and Purchase Options issued after such change may state the same Exercise Price and the same number of Units as are stated in this Purchase Option initially issued pursuant to this
Agreement. The acceptance by any Holder of the issuance of new Purchase Options reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof. 

        6.2   [Intentionally Omitted]  

         6.3   Substitute Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company
into,
another corporation (other than a consolidation or merger which does not result in any reclassification or change of the outstanding Common Stock), the corporation formed by such consolidation or
merger shall execute and deliver to the Holder a supplemental Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares of stock and other securities and property receivable upon such
consolidation or merger, by a holder of the number of shares of Common Stock of the Company for which such Purchase Option might have been exercised immediately prior to such consolidation, merger,
sale or transfer. Such supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in Section 6. The above provision of this Section shall
similarly apply to successive consolidations or mergers. 

        6.4   Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of
shares of Common Stock or Warrants upon the exercise of this Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the
parties that all fractional interests shall be eliminated by rounding any fraction up to the nearest whole number of Warrants, shares of Common Stock or other securities, properties or rights. 

7.     RESERVATION AND LISTING. 

        The
Company shall at all times reserve and keep available out of its authorized shares of Common Stock, solely for the purpose of issuance upon exercise of this Purchase Option or the
Warrants underlying this Purchase Option, such number of shares of Common Stock or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and
agrees that, upon exercise of this Purchase Option and payment of the Exercise Price therefor, all shares of Common Stock and other securities issuable upon such exercise shall be duly and validly
issued, fully paid and non-assessable and not subject to preemptive rights of any stockholder. The Company further covenants and agrees that upon exercise of the Warrants underlying this
Purchase Option and payment of the respective Warrant exercise price therefor, all shares of Common Stock and other securities issuable upon such exercise shall be duly and validly issued, fully paid
and non-assessable and not subject to preemptive rights of any stockholder. As long as the Purchase Options shall be outstanding, the Company shall use its best efforts to cause all
(i) Units and shares of Common Stock issuable upon exercise of this Purchase Option, (ii) Warrants issuable upon exercise of the this Purchase Option and (iii) shares of Common
Stock issuable upon exercise of the Warrants included in the Units issuable upon exercise of this Purchase Option to be listed (subject to official notice of issuance) on all securities exchanges (or,
if applicable on the Nasdaq Global Market, Capital Market, OTC Bulletin Board or any successor trading market) on which the Units, the Common Stock or the Public Warrants issued to the public in
connection herewith may then be listed and/or quoted. 

11

 

8.     CERTAIN NOTICE REQUIREMENTS. 

        8.1   Holder's Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or
consent as a stockholder for the election of directors or any other matter, or as having any rights whatsoever as a stockholder of the Company. If, however, at any time prior to the expiration of the
Purchase Options and their exercise, any of the events described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event at least
fifteen days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution, conversion or
exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing
of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other stockholders of the Company at the same time
and in the same manner that such notice is given to the stockholders. 

        8.2   Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or
more of the following events: (i) if the Company shall take a record of the holders of its shares of Common Stock for the purpose of entitling them to receive a dividend or distribution payable
otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of
the Company, (ii) the Company shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or securities convertible into or exchangeable for shares
of capital stock of the Company, or any option, right or warrant to subscribe therefor or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a
consolidation or merger) or a sale of all or substantially all of its property, assets and business shall be proposed. 

        8.3   Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price
pursuant to Section 6 hereof, send notice to the Holders of such event and change ("Price Notice"). The Price Notice shall describe the event causing the change and the method of calculating
same and shall be certified as being true and accurate by the Company's Chief Executive Officer, President or Chief Financial Officer. 

        8.4   Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in
writing and shall be deemed to have been duly made when hand delivered, or mailed by express mail or next-day courier service: (i) If to the registered Holder of this Purchase
Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to the following address or to such other address as the Company may designate by notice
to the Holders: 

TC
Acquisition Corp.

1816 Fifth Street

Berkeley, CA 94710

Attn: Robert J. Majteles, Jr., Chief Executive Officer 

9.     MISCELLANEOUS. 

        9.1   Amendments. The Company and MCF may from time to time supplement or amend this Purchase Option without the approval of
any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other provisions herein, or to make any other
provisions in regard to matters or questions arising hereunder that the Company and MCF may deem necessary or desirable and that the Company and MCF deem shall not adversely affect the interest of the
Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought. 

12

 

        9.2   Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way
limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option. 

10.   ENTIRE AGREEMENT. 

        This
Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase Option) constitutes the entire agreement of the
parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof. 

        10.1 Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon, the Holder and the
Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim
under or in respect of or by virtue of this Purchase Option or any provisions herein contained. 

        10.2 Governing Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in
any way to this Purchase Option shall be brought and enforced in the courts of the State of California or of the United States of America for the Northern District of California, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address
set forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree
that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its(their) reasonable attorneys' fees and expenses relating to such action or proceeding
and/or incurred in connection with the preparation therefor. 

        10.3 Waiver, Etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase
Option shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any provision hereof or the right of the Company or any
Holder to thereafter enforce each and every provision of this Purchase Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this
Purchase Option shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such
breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or
non-fulfillment. 

        10.4 Execution in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when
one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. 

        10.5 Exchange Agreement. As a condition of the Holder's receipt and acceptance of this Purchase Option, Holder agrees that,
at any time prior to the complete exercise of this Purchase Option by Holder, if the Company and MCF enter into an agreement ("Exchange Agreement") pursuant to which they agree that all outstanding
Purchase Options will be exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement. 

        10.6 Underlying Warrants. At any time after exercise by the Holder of this Purchase Option, the Holder may exchange his
Warrants (with a $6.65 exercise price) for Public Warrants (with a $5.00 exercise price) upon payment to the Company of the difference between the exercise price of his Warrant and the exercise price
of the Public Warrants. 

13

 

        IN WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly authorized officer as of the            day
of                        , 2006. 

	 
	 
	 
	 

	 	TC ACQUISITION CORP.
	

 	

By:	

	 	 	Name:	Robert J. Majteles
	 	 	Title:	President and Chief Executive Officer

14

  

 
 

EXHIBIT A    
    

        Form to be used to exercise Purchase Option: 

TC
Acquisition Corp.

1816 Fifth Street

Berkeley, CA 94710

Date:                        ,
200  

        The
undersigned hereby elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase            Units of TC Acquisition Corp. and hereby makes
payment of $                        (at the rate of
$                        per Unit) in payment of the Exercise Price pursuant thereto. Please issue the Common Stock and Warrants
as to which this Purchase Option is
exercised in accordance with the instructions given below. 

or

        The
undersigned hereby elects irrevocably to convert its right to purchase                        Units purchasable under the within
Purchase Option by surrender of the unexercised portion of
the attached Purchase Option (with a "Value" of $            based on a "Market Price" of $            ). Please issue the
securities comprising the Units as to which this Purchase Option is
exercised in accordance with the instructions given below. 

	 
	 	 

	 	 	
 Signature
	

 	
 	

 Signature Guaranteed

       

       

INSTRUCTIONS FOR REGISTRATION OF SECURITIES 

	 
	 

	Name	
 (Print in Block Letters)
	

Address	

        NOTICE:
THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN A SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A REGISTERED NATIONAL
SECURITIES EXCHANGE. 

A-1

  

 
 

EXHIBIT B    
    

        Form
to be used to assign Purchase Option: 

ASSIGNMENT  

        (To be executed by the registered Holder to effect a transfer of the within Purchase Option): 

        FOR
VALUE RECEIVED,                        does hereby sell, assign and transfer
unto                        the right to
purchase                        Units of TC Acquisition Corp. ("Company") evidenced
by the within Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company. 

        Dated:                        ,
200            

	 
	 	 

	 	 	
 Signature
	

 	
 	

 Signature Guaranteed

       

       

        NOTICE:
THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN PURCHASE OPTION IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY
CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN A SAVINGS BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A REGISTERED NATIONAL SECURITIES EXCHANGE. 

B-1

QuickLinks

Exhibit 4.5

EXHIBIT A

EXHIBIT B

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