Document:

INVESTMENT MANAGEMENT TRUST
AGREEMENT

 

This Agreement is made as of
_________, 2012 by and between RNK Global Development Acquisition Corp. (the “Company”) and Continental Stock Transfer
& Trust Company, as trustee (the “Trustee”).

 

WHEREAS, the Company’s
Registration Statement on Form F-1, No. 333-179014 (as amended from time to time) (“Registration Statement”), for
its initial public offering of securities (“IPO”) has been declared effective as of the date hereof by the Securities
and Exchange Commission (“Effective Date”); and

 

WHEREAS, Chardan Capital Markets,
LLC is acting as the representative (the “Representative”) of the underwriters in the IPO; and

 

WHEREAS, the Company has issued
securities in a private placement that will occur immediately prior to the IPO (the “Placement”); and

 

WHEREAS, as described in the
Company’s Registration Statement, and in accordance with the Company’s Amended and Restated Memorandum and Articles
of Association, a maximum of $[38,150,000] of the proceeds of the Placement and the IPO, net of all discounts and commissions
including the Deferred Compensation (as defined below), if the over-allotment option is not exercised (or a minimum of $[43,700,000]
if the underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held
in a trust account (the “Trust Account”) for the benefit of the Company and the holders of the Company’s Series
A Shares, par value $0.0001 per share (the “Series A Shares”), issued in the IPO (the “IPO Shares”) as
hereinafter provided, and in the event the units issued in the IPO are registered in Colorado, pursuant to Section 11-51-302(6)
of the Colorado revised statutes (the “CRS”). A copy of Section 11-51-302(6) of the CRS is attached hereto and made
a part hereof; and

 

WHEREAS, pursuant to the Underwriting
Agreement, the Representative, on behalf of the underwriters, has agreed to deposit into the Trust Account an additional $[2,000,000]
(or $[2,300,000] if the Representative’s over-allotment option is exercised in full) (or the amount specified in the notice
delivered pursuant to Section 2(d) hereof), representing a portion of the underwriters’ discount (the “Deferred Compensation”);
and

 

WHEREAS, the amount to be delivered
to the Trustee, including the proceeds of the IPO, the Placement and the Deferred Compensation (a maximum of $[40,150,000] if
the Representative's over-allotment option is not exercised, or a minimum of $[46,000,000], if the over-allotment option is
exercised in full) will be referred to herein as the “Property,” the holders of IPO Shares for whose benefit the Trustee
shall hold the Property will be referred to as the “Public Shareholders;” and the Public Shareholders, the Representative
and the Company will be referred to together as the “Beneficiaries;” and

 

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

 

IT IS AGREED:

 

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

 

(a)   Hold the
Property in trust for the Beneficiaries in accordance with the terms of this Agreement in Trust Accounts which shall be
established by the Trustee at the London Branch of J.P. Morgan Chase Bank, N.A. and at a brokerage institution outside of the
United States selected by the Trustee that is reasonably satisfactory to the Company;

 

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

 

    	 

    	 

    

 

(c)   In a timely manner, upon the instruction of the Company, to invest and reinvest the Property in cash or
any “Government Security,” or in any open ended investment company that holds itself out as a money market fund meeting
the conditions of Rule 2a-7 promulgated under the Investment Company Act of 1940, including any such fund that is located or managed
outside of the United States. As used herein, Government Security means any Treasury Bill issued by the United States, having a
maturity of 180 days or less;

 

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

 

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

 

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

 

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

 

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

 

(i)   If there is any
tax obligation relating to the Property in the Trust Account or to fund the working capital of the Company, then, only at the written
instruction of the Company in a form substantially similar to that attached hereto as Exhibit A, to make available in cash
or by check from the Property in the Trust Account an amount specified by the Company by electronic funds transfer, account
debit or other method of payment; provided, however, that such distributions may only be made if and to the extent that
interest has been earned on the amount initially deposited in the Trust Account sufficient to pay for such distribution (it
being expressly understood that the principal of the Property shall not be used to pay any such distribution); and

 

(j)   Commence liquidation
of the Trust Account or commence liquidation of a portion thereof only after receipt of and only in accordance with the terms
of a letter (“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit
B, Exhibit C, Exhibit D or Exhibit E, signed on behalf of the Company by its Chief Executive Officer
or Chief Financial Officer, and complete the liquidation of the Trust Account and disburse the Property in the Trust Account (which
disbursement shall include, in the event of (i) an Acquisition Transaction (as hereafter defined), (ii) Post-Acquisition Tender
Offer (as hereinafter defined), (iii) a trust liquidation, as required by its Amended and Restated Memorandum and Article of Association,
in the event the Company does not commence or complete a Post-Acquisition Tender Offer within 30 days or six months of consummation
of the Acquisition Transaction respectively, the payment of the Deferred Compensation to the Representative) only as directed
in the Termination Letter and the other documents referred to therein.  The Trustee understands and agrees that, except
as provided in this paragraph and paragraphs 1(i), 1(k) and 6(a) hereof, disbursements from the Trust Account shall be made only
pursuant to a duly executed Termination Letter, together with the other documents referenced herein.  For purposes of
this Agreement, (i) an “Acquisition Transaction” shall mean an acquisition through a merger, stock exchange, asset
acquisition, stock purchase or similar acquisition transaction of one or more operating businesses that have a fair market value,
individually or collectively, of at least 80% of the balance in the trust account (less the deferred underwriting discounts and
commissions and taxes payable) at the time of such acquisition transaction and (ii) a “Post-Acquisition Tender Offer”
shall mean an issuer tender offer for all IPO Shares following the consummation of an Acquisition Transaction where the Company
has elected to grant Public Shareholders their redemption rights by means of such issuer tender offer;

 

    	 

    	 

    

 

(k) If the Company
structures the Acquisition Transaction to require a Post-Acquisition Tender Offer, then it may, after a Report of Foreign
Private Issuer on Form 6-K describing the terms of the Acquisition Transaction is filed with the SEC, seek that holders of 5%
or more of the Series A Shares who are also accredited investors elect to convert all of their Series A Shares into shares of
Series C Shares (the “Series C Shares”), on a one-for-one basis, immediately prior to consummation of the
Acquisition Transaction, with any remaining Series A Shares automatically converting to shares of Series B Shares
(the “Series B Shares”) immediately following consummation of the Acquisition Transaction. Such opportunity
to convert would only be available to these certain shareholders, and not to our other holders of Series A Shares. Holders
of shares of Series A Shares who elect to convert their shares into Series C Shares prior to consummation of the
Acquisition Transaction shall not be entitled to participate in the Post-Acquisition Tender Offer, while holders of shares of
Series A Shares that have their shares automatically converted to shares of Series B Shares shall be entitled to participate
in the Post-Acquisition Tender Offer.  Upon written confirmation from the Company of the date of consummation of
an Acquisition Transaction (the “Consummation Date”) and the conversion of Series A Shares into Series C Shares,
in a form substantially similar to that attached hereto as Exhibit F, signed on behalf of the Company by its
Chief Executive Officer or Chief Financial Officer, the Trustee shall distribute to the Company a pro rata share of the
amounts in the Trust Account as of two business days prior to the Consummation Date in the Trust Account for each such share
of Series A Shares converted to Series C Shares on the Consummation Date; and  

 

 (l)   Permit or
effect no distribution from the Trust Account except in accordance with Sections 1(i), 1(j), 1(k) and 6(a).

 

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

 

(a)   Provide all instructions
to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer or Chief Financial Officer.  In
addition, except with respect to its duties under Section 1(i) above, the Trustee shall be entitled to rely on, and shall be protected
in relying on, any verbal or telephonic advice or instruction which it in good faith believes to be given by the Chief Executive
Officer or the Chief Financial Officer;

 

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

 

(c)   Pay the Trustee
an initial acceptance fee of $[__] and an annual fee of $[__] (it being expressly understood that the Property shall not be used
to pay such fee).  The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation
of the IPO and shall thereafter pay the annual fee on the anniversary of the Effective Date.  The Trustee shall refund
to the Company the fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund.  The
Company shall not be responsible for any other fees or charges of the Trustee except as may be provided in Section 2(b) hereof
(it being expressly understood that the Property shall not be used to make any payments to the Trustee under such Section) and
for accountable out-of-pocket expenses actually incurred by the Trustee acting as Trustee of the Property in accordance with this
Agreement;

 

(d)   Within five business
days after the Representative’s over-allotment option (or any unexercised portion thereof) expires or is exercised in full,
provide the Trustee notice in writing (with a copy to the Representative) of the total amount of the Deferred Compensation, which
shall in no event be less than $[2,000,000]; and

 

    	 

    	 

    

 

(e)   In connection with
a vote of the Company’s shareholders regarding a Acquisition Transaction, if any, provide to the Trustee an affidavit or
certificate of a firm regularly engaged in the business of soliciting proxies and tabulating shareholder votes verifying the vote
of the Company’s shareholders and the Company’s Public Shareholders regarding such Acquisition Transaction.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(g)   Verify the correctness
of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by the Company or
any other action taken by it is as contemplated by the Registration Statement, unless an officer of the Trustee has actual knowledge
thereof, or written notice of such event is sent to the Trustee or as otherwise required under Section 1(j) hereof; and

 

(h)   Pay any taxes on
behalf of the Trust Account (it being expressly understood that, as set forth in Section 1(i), if there is any income tax obligation
relating to the income of the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall
make available by check or in cash for transfer by account debit or wire in the amount indicated by the Company).

 

4.   Certain Rights
Of Trustee.

 

(a)   Before the Trustee
acts or refrains from acting, it may require an Officer’s Certificate or opinion of counsel or both. The Trustee shall not
be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or opinion of
counsel. The Trustee may consult with counsel and the advice of such counsel or any opinion of counsel shall be full and complete
authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and
in reliance thereon.

 

    	 

    	 

    

 

(b)   The Trustee may
act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed with
due care.

 

(c)   The Trustee shall
not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or
powers conferred upon it by this Agreement.

 

(d)   The Trustee shall
not be responsible for and makes no representation as to the validity or adequacy of this Agreement; it shall not be accountable
for the Company’s use of the proceeds from the Trust Account. Notwithstanding the effective date of this Agreement or anything
to the contrary contained in this Agreement, the Trustee shall have no liability or responsibility for any act or event relating
to this Agreement or the transactions related thereto which occur prior to the date of this Agreement, and shall have no contractual
obligations to the Beneficiaries until the date of this Agreement.

 

5.   No Right of Set-Off.   The
Trustee waives any right of set-off or any right, title, interest or claim of any kind that the Trustee may have against the Property
held in the Trust Account.  In the event that the Trustee has a claim against the Company under this Agreement, including,
without limitation, under Section 2(b), the Trustee will pursue such claim solely against the Company and not against the Property
held in the Trust Account.

 

6.   Termination.  This
Agreement shall terminate as follows:

 

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

 

(b)   At such time that
the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section 1(j) hereof, and distributed
the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to
Section 2(b).

 

7.   Miscellaneous.

 

(a)   The Company and
the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons.  Each
party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such
information, or of any change in its authorized personnel.  In executing funds transfers, the Trustee will rely upon
account numbers or other identifying numbers of a Beneficiary, Beneficiary’s bank or intermediary bank, rather than names.  The
Trustee shall not be liable for any loss, liability or expense resulting from any error in an account number or other identifying
number, provided it has accurately transmitted the numbers provided.

 

(b)   This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the substantive laws of another jurisdiction.  It may be executed
in several counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

    	 

    	 

    

 

(c)   This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.  This Agreement
or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however,
that no such change, amendment or modification (other than to correct a typographical or similar technical error) may be made to
Sections 1(i), 1(j), 1(k), and 1(l) hereof without the consent of the holders of 80% of the IPO Shares, it being the specific intention
of the parties hereto that each holder of an IPO Share is and shall be a third-party beneficiary of this Section 7(c) with the
same right and power to enforce this Section 7(c) as any of the parties hereto.  For purposes of this Section 7(c), the
“consent of the holders of 80% of the IPO Shares” shall mean receipt by the Trustee of a certificate from an entity
certifying that either (i) the holders of record of 80% of the IPO Shares of record as of a record date established in accordance
with the applicable provisions of the Company’s Amended and Restated Memorandum and Articles of Association and British Virgin
Islands Law (“BVI Law”), have voted in favor of such amendment or modification or (ii) the holders of record of 80%
of the IPO Shares of record as of a record date established in accordance with the applicable provisions of the the Company’s
Amended and Restated Memorandum and Articles of Association and BVI Law have delivered to such entity a signed writing approving
such amendment or modification.

 

(d)   As to any claim,
cross-claim or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury.

 

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

 

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

 

if to the Trustee, to:

 

Continental Stock Transfer
& Trust Company

17 Battery Place, 8th
Floor

New York, NY 10004

Attn: Compliance Department

Fax No. (212) 509-5150

 

if to the Company, to:

 

RNK Global Development
Acquisition Corp.

Suite 101, No.26 Wen
Hua East Road

Huilongguan, Changpin
District

Beijing, People’s
Republic of China 102208

Attn: Chief Executive
Officer

Fax No.: [____________]

 

in either case with a copy
to (which shall not constitute notice):

 

Chardan Capital Markets
LLC

17 State Street, Suite
1600

New York, NY 10004

Attn: Kerry Propper

Fax No.: (646) 465-9039

 

and

 

Golenbok Eiseman Assor
Bell & Peskoe LLP

437 Madison Avenue,
40th Floor

New York, NY 10022

Attn: Andrew D. Hudders,
Esq.

Fax.: (212) 754-0330

 

    	 

    	 

    

 

and

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York
10154

Attn: Mitchell S. Nussbaum,
Esq.

Fax No.: (212) 407-4990

 

(g)   This Agreement may
not be assigned by the Trustee without the prior written consent of the Company.

 

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

 

[Signature page follows]

 

    	 

    	 

    

 

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

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	Robert Koltun
	 	Title:	Chief Executive Officer

 

Investment Management Trust
Agreement

 

    	 

    	 

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
Trust Account No. [                    ]

 

Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of _________, 2012 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ of the income earned on the Property as of the date hereof. The Company
needs such funds [for working capital purposes] [to pay for the tax obligations as set forth on the attached tax return or tax
statement]. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer)
such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
Trust Account No. [                    ]
Termination Letter

 

Gentlemen:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of ______, 2012 (“Trust Agreement”), this is to
advise you that the Company has entered into an agreement (“Business Agreement”) with __________________ (“Target
Business”) to consummate an acquisition transaction with Target Business (“Acquisition Transaction”) on or about
[insert date] and has elected to grant Public Shareholders their redemption rights at the time of the consummation of the Acquisition
Transaction.  The Company shall notify you at least 48 hours in advance of the actual date of the consummation of the
Acquisition Transaction (“Consummation Date”) and shall provide you with a certificate or affidavit [in accordance
with Section 2(e) of the Trust Agreement][verifying that a vote of shareholders is not required].  Capitalized terms
used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

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

 

On the Consummation Date (i)
counsel for the Company shall deliver to you written notification that (a) the Acquisition Transaction has been consummated and
[(b) the provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met,] and (ii) the Company and the Representative
shall deliver to you written instructions with respect to the transfer of the funds held in the Trust Account (“Instructions”),
and (iii) the Company and the Representative shall deliver to you written instructions for delivery of the Deferred Compensation.  You
are hereby directed and authorized to transfer the funds, including the Deferred Compensation, held in the Trust Account immediately
upon your receipt of the counsel’s letter and the Instructions, in accordance with the terms of the Instructions.  Notwithstanding
the foregoing, upon verification of receipt by you of the Instruction Letter, we hereby agree and acknowledge that the Property
in the Trust Account shall be distributed as follows: (1) first, to Public Shareholders who exercised their redemption rights in
connection with the Acquisition Transaction, in an amount equal to their pro rata share of the amounts in the Trust Account as
of two business days prior to the Consummation Date (including the Deferred Compensation and accrued but undistributed income,
net of (i) taxes payable, and (ii) interest income earned previously released to the Company); (2) to the Representative by wire
transfer (or as otherwise directed by the Representative) in immediately available funds, the aggregate amount of $__________;
and (3) thereafter, to any other Beneficiary in accordance with the terms of the Instructions. In the event that certain deposits
held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the same
and the Company, if the amount set forth in clause (1) shall not have been paid in full, the Company and shall issue written instructions
directing you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the
Company.  Upon the distribution of all funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
be terminated.

 

    	 

    	 

    

 

In the event that the Acquisition
Transaction is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before
the original Consummation Date of a new Consummation Date, then the funds held in the Trust Account shall be reinvested as provided
in the Trust Agreement on the business day immediately following the Consummation Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
Trust Account No. [                    ]
Termination Letter

 

Gentlemen:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of ______, 2012 (“Trust Agreement”), this is to
advise you that the Company entered into an agreement (“Business Agreement”) with __________________ (“Target
Business”) and consummated an acquisition transaction with Target Business (“Acquisition Transaction”) on [insert
date] and has elected to grant Public Shareholders their redemption rights following the consummation of the Acquisition Transaction
pursuant to a Post-Acquisition Tender Offer.  The Company shall notify you at least 48 hours in advance of the actual
date of the consummation of the Post-Acquisition Tender Offer (“Consummation Date”) and shall provide you with a certificate
or affidavit [in accordance with Section 2(e) of the Trust Agreement][verifying that a vote of shareholders is not required].  Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

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

 

On the Consummation Date (i)
counsel for the Company shall deliver to you written notification that (a) the Acquisition Transaction has been consummated [and
(b) the provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met,] and (ii) the Company and the Representative
shall deliver to you written instructions with respect to the transfer of the funds held in the Trust Account (“Instructions”),
and (iii) the Company and the Representative shall deliver to you written instructions for delivery of the Deferred Compensation.  You
are hereby directed and authorized to transfer the funds, including the Deferred Compensation, held in the Trust Account immediately
upon your receipt of the counsel’s letter and the Instructions, in accordance with the terms of the Instructions.  Notwithstanding
the foregoing, upon verification of receipt by you of the Instruction Letter, we hereby agree and acknowledge that the Property
in the Trust Account shall be distributed as follows: (1) first, to Public Shareholders who exercised their redemption rights in
connection with the Post-Acquisition Tender Offer, in an amount equal to their pro rata share of the amounts in the Trust Account
as of two business days prior to the Consummation Date (including the Deferred Compensation and accrued but undistributed income,
net of (i) taxes payable, and (ii) interest income earned previously released to the Company); (2) to the Representative by wire
transfer (or as otherwise directed by the Representative) in immediately available funds, the aggregate amount of $__________;
and (3) thereafter, to any other Beneficiary in accordance with the terms of the Instructions. In the event that certain deposits
held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the same
and the Company, if the amount set forth in clause (1) shall not have been paid in full, the Company and shall issue written instructions
directing you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the
Company.  Upon the distribution of all funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
be terminated.

 

    	 

    	 

    

 

In the event that the Post-Acquisition
Tender Offer is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before
the original Consummation Date of a new Consummation Date, then the funds held in the Trust Account shall be reinvested as provided
in the Trust Agreement on the business day immediately following the Consummation Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT D

 

 [Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
  Trust Account No. [                    ]
Termination Letter

Gentlemen:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of ________, 2012 (“Trust Agreement”), this is
to advise you that the Board of Directors of the Company has adopted a plan of dissolution and liquidation relating to the winding
up of the affairs of the Company and liquidation of the Trust Account (as defined in the Trust Agreement). Attached hereto is a
copy of the minutes, including a copy of the plan of dissolution and liquidation, of the meeting of the Board of Directors of the
Company relating thereto, certified by an executive officer of the Company as true and correct and in full force and effect.

 

In accordance with the terms
of the Trust Agreement, we hereby [(a) certify to you that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado
Statute have been met and (b)] authorize you to commence liquidation of the Trust Account as part of the Company’s plan of
dissolution and distribution.  In connection with this liquidation, you are hereby authorized to establish a record date
for the purposes of determining the shareholders of record entitled to receive their per share portion of the Trust Account.  The
record date shall be within ten (10) days of the liquidation date, or as soon as thereafter as is practicable.  You will
notify the Company and ______________ (“Designated Paying Agent”) in writing as to when all of the funds in the Trust
Account will be available for immediate transfer (“Transfer Date”).  The Designated Paying Agent shall thereafter
notify you as to the account or accounts of the Designated Paying Agent that the funds in the Trust Account should be transferred
to on the Transfer Date so that the Designated Paying Agent may commence distribution of such funds in accordance with the terms
of the Trust Agreement and the Company’s Amended and Restated Certificate of Incorporation.  Upon the payment of
all the funds in the Trust Account, the Trust Agreement shall be terminated and the Trust Account closed.

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
Trust Account No. [             ]

 

Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of _________, 2012 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ of the Property as of the date hereof. The Company needs such funds to
settle purchases of its units or callable Series A Shares pursuant to its 10b-5 plan. In accordance with the terms of the Trust
Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this
letter to the Company’s brokerage account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT F

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer &
Trust Company

17 Battery Place, 8th Floor

New York, NY 10004

Attn: Compliance Department

 

Re:           
Trust Account No. [             ]

 

Gentlemen:

 

Pursuant to Section 1(k) of
the Investment Management Trust Agreement between RNK Global Development Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of ________, 2012 (“Trust Agreement”), this is
to advise you that the Company entered into an agreement (“Business Agreement”) with __________________ (“Target
Business”) and consummated an acquisition transaction with Target Business (“Acquisition Transaction”) on [insert
date] (the “Consummation Date”), and in connection with the Acquisition Transaction an aggregate of [_______] Series
A Shares have been converted to Series C Shares.

 

In accordance with the terms
of the Trust Agreement, we hereby [(a) certify to you that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado
Statute have been met and (b)] instruct you to deliver an aggregate of $[______] from the proceeds held in trust, representing
a pro rata share of the amounts in the Trust Account as of two business days prior to the Consummation Date in the Trust Account
for each Series A Share converted to Series C Shares on the Consummation Date.

 

	 	Very truly yours,
	 	 
	 	RNK GLOBAL DEVELOPMENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:Exhibit 10.1

IceWEB, Inc.

2012 EQUITY COMPENSATION PLAN

 

1.          Purpose.

 

1.1           Purpose.
The purpose of the IceWEB, Inc. 2012 Equity Compensation Plan is to enable the Company to offer to its employees, officers, directors
and consultants whose past, present and/or potential contributions to the Company and its Subsidiaries have been, are or will be
important to the success of the Company, an opportunity to acquire a proprietary interest in the Company. The types of long-term
incentive Awards that may be provided under the Plan will enable the Company to respond to changes in compensation practices, tax
laws, accounting regulations and the size and diversity of its businesses.

 

2.          Definitions.

 

2.1           Definitions.
For purposes of the Plan, the following terms shall be defined as set forth below:

 

(a)          “Agreement”
means the agreement between the Company and the Holder setting forth the terms and conditions of an Award under the Plan. Agreements
shall be in the form(s) attached hereto.

 

(b)          “Award”
means Stock Options, Restricted Stock and/or other Stock Based Awards awarded under the Plan.

 

(c)          “Board”
means the Board of Directors of the Company.

 

(d)          “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

(e)          “Committee”
means the Compensation Committee of the Board or any other committee of the Board that the Board may designate to administer the
Plan or any portion thereof. If no Committee is so designated, then all references in this Plan to “Committee” shall
mean the Board.

 

(f)          “Common
Stock” means the common stock of the Company, $0.001 par value per share.

 

(g)          “Company”
means IceWEB, Inc., a corporation organized under the laws of the State of Delaware.

 

(h)          “Disability”
means physical or mental impairment as determined under procedures established by the Committee for purposes of the Plan.

 

    	3

    	 

    

 

(i)          “Effective
Date” means the date set forth in Section 12.1, below.

 

(j)          “Fair
Market Value”, unless otherwise required by any applicable provision of the Code or any regulations issued thereunder,
means, as of any given date: (i) if the Common Stock is listed on a national securities exchange, the closing price of the Common
Stock in the principal trading market for the Common Stock on such date, as reported by the exchange (or on the last preceding
trading date if such security was not traded on such date); (ii) if the Common Stock is not listed on a national securities exchange,
but is traded in the over-the-counter market, the closing bid price for the Common Stock on such date, as reported by the OTC Bulletin
Board or the Pink OTC Markets Inc. or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock
cannot be determined pursuant to clause (i) or (ii) above, such price as the Committee shall determine, in good faith.

 

(k)          “Holder”
means a person who has received an Award under the Plan.

 

(l)          “Incentive
Stock Option” means any Stock Option intended to be and designated as an “incentive stock option” within
the meaning of Section 422 of the Code.

 

(m)          “Nonqualified
Stock Option” means any Stock Option that is not an Incentive Stock Option.

 

(n)          “Normal
Retirement” means retirement from active employment with the Company or any Subsidiary, other than for Cause or due
to death or disability, of a Holder who; (i) has reached the age of 65; (ii) has reached the age of 62 and has completed five years
of service with the Company; or (iii) has reached the age of 60 and has completed 10 years of service with the Company.

 

(o)          “Other
Stock-Based Award” means an Award under Section 9, below, that is valued in whole or in part by reference to, or
is otherwise based upon, Common Stock.

 

(p)          “Parent”
means any present or future “parent corporation” of the Company, as such term is defined in Section 424(e) of the Code.

 

(q)          “Plan”
means the IceWEB, Inc, 2010 Equity Compensation Plan, as hereinafter amended from time to time.

 

(r)          “Repurchase
Value” shall mean the Fair Market Value in the event the Award to be repurchased under Section 10.2 is comprised
of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value)
in the event the Award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject
to the Award.

 

(s)          “Restricted
Stock” means Common Stock, received under an Award made pursuant to Section 8, below that is subject to restrictions
under said Section 8.

 

    	4

    	 

    

 

(t)          “SAR
Value” means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant
would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation
Right is exercised.

 

(u)          “Stock
Appreciation Right” means the right to receive from the Company, on surrender of all or part of the related Stock
Option, without a cash payment to the Company, a number of shares of Common Stock equal to the SAR Value divided by the Fair Market
Value (on the exercise date).

 

(v)         “Stock
Option” or “Option” means any option to purchase shares of Common Stock that is granted
pursuant to the Plan.

 

(w)          “Subsidiary”
means any present or future “subsidiary corporation” of the Company, as such term is defined in Section 424(f) of the
Code.

 

    	5

    	 

    

 

3.          Administration.

 

3.1           Committee
Membership. The Plan shall be administered by the Committee, the Board or a committee designated by the Board. Committee members
shall serve for such term as the Board may in each case determine, and shall be subject to removal at any time by the Board. The
Committee members, to the extent deemed to be appropriate by the Board, shall be “non-employee directors” as defined
in Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and “outside
directors” within the meaning of Section 162(m) of the Code. The Committee shall conduct itself in conformance with the provisions
of the Compensation Committee Charter.

 

3.2           Powers
of Committee. The Committee shall have the authority and responsibility to recommend to the Board for approval, Awards for
Board members, executive officers, non-executive employees and consultants of the Company, pursuant to the terms of the Plan: (i)
Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, and/or (iv) Other Stock-Based Awards. For purposes of illustration
and not of limitation, the Committee shall have the authority (subject to the express provisions of this Plan):

 

(a)          to
select the officers, employees, directors and consultants of the Company or any Subsidiary to whom Stock Options, Stock Appreciation
Rights, Restricted Stock, and/or Other Stock-Based Awards may from time to time be awarded hereunder.

 

(b)          to
determine the terms and conditions, not inconsistent with the terms of the Plan or requisite Board approval, of any Award granted
hereunder including, but not limited to, number of shares, share exercise price or types of consideration paid upon exercise of
Stock Options and the purchase price of Common Stock awarded under the Plan (including without limitation by a Holder’s conversion
of deferred salary or other indebtedness of the Company to the Holder), such as other securities of the Company or other property,
any restrictions or limitations, and any vesting, exchange, surrender, cancellation, acceleration, termination, exercise or forfeiture
provisions, as the Committee shall determine;

 

(c)          to
determine any specified performance goals or such other factors or criteria which need to be attained for the vesting of an Award
granted hereunder;

 

(d)          to
determine the terms and conditions under which Awards granted hereunder are to operate on a tandem basis and/or in conjunction
with or apart from other equity awarded under this Plan and cash Awards made by the Company or any Subsidiary outside of this Plan;
and

 

(e)          to
determine the extent and circumstances under which Common Stock and other amounts payable with respect to an Award hereunder shall
be deferred that may be either automatic or at the election of the Holder; and

 

    	6

    	 

    

 

3.3           Interpretation
of Plan.

 

3.1           Committee
Authority. Subject to Section 11, below, the Committee shall have the authority to adopt, alter and repeal such administrative
rules, guidelines and practices governing the Plan as it shall, from time to time, deem advisable, to interpret the terms and provisions
of the Plan and any Award issued under the Plan (and to determine the form and substance of all Agreements relating thereto), and
to otherwise supervise the administration of the Plan. Subject to Section 11, below, all decisions made by the Committee pursuant
to the provisions of the Plan shall be made in the Committee’s sole discretion, subject to Board authorization if indicated,
and shall be final and binding upon all persons, including the Company, its Subsidiaries and Holders.

 

3.2           Incentive
Stock Options. Anything in the Plan to the contrary notwithstanding, no term or provision of the Plan relating to Incentive
Stock Options (including but limited to Stock Appreciation rights granted in conjunction with an Incentive Stock Option) or any
Agreement providing for Incentive Stock Options shall be interpreted, amended or altered, nor shall any discretion or authority
granted under the Plan be so exercised, so as to disqualify the Plan under Section 422 of the Code, or, without the consent of
the Holder(s) affected, to disqualify any Incentive Stock Option under such Section 422.

 

4.          Stock
Subject to Plan.

 

4.1           Number
of Shares. The total number of shares of Common Stock reserved and available for issuance under the Plan shall be twenty million
(20,000,000) shares. Shares of Common Stock under the Plan may consist, in whole or in part, of authorized and unissued shares
or treasury shares. If any shares of Common Stock that have been granted pursuant to a Stock Option cease to be subject to a Stock
Option, or if any shares of Common Stock that are subject to any Stock Appreciation Right, Restricted Stock, Deferred Stock Award,
or Other Stock-Based Award granted hereunder are forfeited or any such Award otherwise terminates without a payment being made
to the Holder in the form of Common Stock, such shares shall again be available for distribution in connection with future grants
and Awards under the Plan.

 

4.2           Adjustment
Upon Changes in Capitalization, Etc. In the event of any dividend (other than a cash dividend) payable on shares of Common
Stock, stock split, reverse stock split, combination or exchange of shares, or other similar event (not addressed in Section 4.3,
below) occurring after the grant of an Award, which results in a change in the shares of Common Stock of the Company as a whole,
(i) the number of shares issuable in connection with any such Award and the purchase price thereof, if any, shall be proportionately
adjusted to reflect the occurrence of any such event and (ii) the Committee shall determine whether such change requires
an adjustment in the aggregate number of shares reserved for issuance under the Plan or to retain the number of shares reserved
and available under the Plan in their sole discretion. Any adjustment required by this Section 4.2 shall
be made by the Committee, in good faith, subject to Board authorization if indicated, whose determination will be final, binding
and conclusive.

 

    	7

    	 

    

 

4.3           Certain
Mergers and Similar Transactions. In the event of (a) a dissolution or liquidation of the Company, (b) a merger or consolidation
in which the Company is not the surviving corporation (other than a merger or consolidation with a wholly-owned subsidiary, a reincorporation
of the Company in a different jurisdiction, or other transaction in which there is no substantial change in the shareholders of
the Company or their relative stock holdings and the Awards granted under this Plan are assumed, converted or replaced by the successor
corporation, which assumption will be binding on all Awardees, (c) a merger in which the Company is the surviving corporation but
after which the shareholders of the Company immediately prior to such merger (other than any shareholder that merges, or which
owns or controls another corporation that merges, with the Company in such merger) cease to own their shares or other equity interest
in the Company, (d) the sale of substantially all of the assets of the Company, or (e) the acquisition, sale, or transfer of more
than 50% of the outstanding shares of the Company by tender offer or similar transaction, any or all outstanding Awards may be
assumed, converted or replaced by the successor corporation (if any), which assumption, conversion or replacement will be binding
on all Awardees. In the alternative, the successor corporation may substitute equivalent Awards or provide substantially similar
consideration to Awardees as was provided to shareholders (after taking into account the existing provisions of the Awards). The
successor corporation may also issue, in place of outstanding Shares of the Company held by the Holder, substantially similar shares
or other property subject to repurchase restrictions no less favorable to the Holder. In the event such successor corporation (if
any) refuses or otherwise declines to assume or substitute Awards, as provided above, (i) the vesting of any or all Awards granted
pursuant to this Plan will accelerate immediately prior to the effective date of a transaction described in this Section 4.3 and
(ii) any or all Options granted pursuant to this Plan will become exercisable in full prior to the consummation of such event at
such time and on such conditions as the Committee determines. If such Options are not exercised prior to the consummation of the
corporate transaction, they shall terminate at such time as determined by the Committee. Subject to any greater rights granted
to Awardees under the foregoing provisions of this Section 4.3, in the event of the occurrence of any transaction described in
this Section 4.3, any outstanding Awards will be treated as provided in the applicable agreement or plan of merger, consolidation,
dissolution, liquidation, or sale of assets.

 

5.          
Eligibility.

 

Awards may be made
or granted to employees, officers, directors and consultants who are deemed to have rendered or to be able to render significant
services to the Company or its Subsidiaries and who are deemed to have contributed or to have the potential to contribute to the
success of the Company. No Incentive Stock Option shall be granted to any person who is not an employee of the Company or a Subsidiary
at the time of grant. Notwithstanding anything to the contrary contained in the Plan, Awards covered or to be covered under a registration
statement on Form S-8 may be made under the Plan only if (a) they are made to natural persons, (b) who provide bona fide services
to the Company or its Subsidiaries, and (c) the services are not in connection with the offer and sale of securities in a capital
raising transaction, and do not directly or indirectly promote or maintain a market for the Company’s securities.

 

6.          Stock
Options.

 

6.1           Grant
and Exercise. Stock Options granted under the Plan may be of two types: (i) Incentive Stock Options and (ii) Nonqualified Stock
Options. Any Stock Option granted under the Plan shall contain such terms, not inconsistent with this Plan, or with respect to
Incentive Stock Options, not inconsistent with the Plan and the Code, as the Committee may from time to time approve. The Committee
shall have the authority to grant Incentive Stock Options or Non-qualified Stock Options, or both types of Stock Options, which
may be granted alone or in addition to other Awards granted under the Plan. To the extent that any Stock Option intended to qualify
as an Incentive Stock Option does not so qualify, it shall constitute a separate Nonqualified Stock Option.

 

    	8

    	 

    

 

6.2           Terms
and Conditions. Stock Options granted under the Plan shall be subject to the following terms and conditions:

 

(a)          Option
Term. The term of each Stock Option shall be fixed by the Committee; provided, however, that an Incentive Stock Option may
be granted only within the ten-year period commencing from the Effective Date and may only be exercised within ten years of the
date of grant (or five years in the case of an Incentive Stock Option granted to an optionee who, at the time of grant, owns Common
Stock possessing more than 10% of the total combined voting power of all classes of stock of the Company (“10% Shareholder”).

 

(b)          Exercise
Price. The exercise price per share of Common Stock purchasable under a Stock Option shall be determined by the Committee at
the time of grant and may not be less than 50% of the Fair Market Value on the day of grant; provided, however, that the exercise
price of an Incentive Stock Option granted to a 10% Shareholder shall not be less than 110% of the Fair Market Value on the date
of grant.

 

(c)          Exercisability.
Stock Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the
Committee and as set forth in Section 10, below. If the Committee provides, in its discretion, that any Stock Option is exercisable
only in installments, i.e., that it vests over time, the Committee may waive such installment exercise provisions at any time at
or after the time of grant in whole or in part, based upon such factors as the Committee shall determine.

 

(d)          Method
of Exercise. Subject to whatever installment, exercise and waiting period provisions are applicable in a particular case; Stock
Options may be exercised in whole or in part at any time during the term of the Option, by giving written notice of exercise to
the Company specifying the number of shares of Common Stock to be purchased. Such notice shall be accompanied by payment in full
of the purchase price, which shall be in cash or, if provided in the Agreement, either in shares of Common Stock (including Restricted
Stock and other contingent Awards under this Plan) or partly in cash and partly in such Common Stock, or such other means which
the Committee determines are consistent with the Plan’s purpose and applicable law. Cash payments shall be made by wire transfer,
certified or bank check or personal check, in each case payable to the order of the Company; provided, however, that the Company
shall not be required to deliver certificates for shares of Common Stock with respect to which an Option is exercised until the
Company has confirmed the receipt of good and available funds in payment of the purchase price thereof. Payments in the form of
Common Stock shall be valued at the Fair Market Value on the date prior to the date of exercise. Such payments shall be made by
delivery of stock certificates in negotiable form that are effective to transfer good and valid title thereto to the Company, free
of any liens or encumbrances. A Holder shall have none of the rights of a Shareholder with respect to the shares subject to the
Option until such shares shall be transferred to the Holder upon the exercise of the Option.

 

    	9

    	 

    

 

(e)          Transferability.
Except as may be set forth in the Agreement, no Stock Option shall be transferable by the Holder other than by will or by the laws
of descent and distribution, and all Stock Options shall be exercisable, during the Holder’s lifetime, only by the Holder
(or, to the extent of legal incapacity or incompetency, the Holder’s guardian or legal representative).

 

(f)          Termination
by Reason of Death. If a Holder’s employment by the Company or a Subsidiary terminates by reason of death, any Stock
Option held by such Holder, unless otherwise determined by the Committee at the time of grant and set forth in the Agreement, shall
thereupon automatically terminate, except that the portion of such Stock Option that has vested on the date of death may thereafter
be exercised by the legal representative of the estate or by the legatee of the Holder under the will of the Holder, for a period
of one year (or such other greater or lesser period as the Committee may specify at grant) from the date of such death or until
the expiration of the stated term of such Stock Option, whichever period is the shorter.

 

(g)          Termination
by Reason of Disability. If a Holder’s employment by the Company or any Subsidiary terminates by reason of Disability,
any Stock Option held by such Holder, unless otherwise determined by the Committee at the time of grant and set forth in the Agreement,
shall there upon automatically terminate, except that the portion of such Stock Option that has vested on the date of termination
may thereafter be exercised by the Holder for a period of one year (or such other greater or lesser period as the Committee may
specify at the time of grant) from the date of such termination of employment or until the expiration of the stated term of such
Stock Option, whichever period is the shorter.

 

(h)          Other
Termination. Subject to the provisions of Section 13, below, and unless otherwise determined by the Committee at the time of
grant and set forth in the Agreement, if a Holder is an employee of the Company or a Subsidiary at the time of grant and if such
Holder’s employment by the Company or any Subsidiary terminates for any reason other than death or Disability, the Stock
Option shall thereupon automatically terminate, except that if the Holder’s employment is terminated by the Company or a
Subsidiary without cause or due to Normal Retirement, then the portion of such Stock Option that has vested on the date of termination
of employment may be exercised for the lesser of three months after termination of employment or the balance of such Stock Option’s
term.

 

(i)          Additional
Incentive Stock Option Limitation. In the case of an Incentive Stock Option, the aggregate Fair Market Value (on the date of
grant of the Option) with respect to which Incentive Stock Options become exercisable for the first time by a Holder during any
calendar year (under all such plans of the Company and its Parent and Subsidiary) shall not exceed $100,000.

 

(j)          Buyout
and Settlement Provisions. The Committee may at any time, subject to Board authorization, if indicated, offer to repurchase
a Stock Option previously granted, based upon such terms and conditions as the Committee shall establish and communicate to the
Holder at the time that such offer is made.

 

    	10

    	 

    

 

7.           Stock Appreciation Rights.

 

7.1           Grant
and Exercise. The Committee, subject to Board authorization, if indicated, may grant Stock Appreciation Rights to participants
who have been, or are being granted, Stock Options under the Plan as a means of allowing such participants to exercise their Stock
Options without the need to pay the exercise price in cash. In the case of a Nonqualified Stock Option, a Stock Appreciation Right
may be granted either at or after the time of the grant of such Nonqualified Stock Option. In the case of an Incentive Stock Option,
a Stock Appreciation Right may be granted only at the time of the grant of such Incentive Stock Option.

 

7.2           Terms
and Conditions. Stock Appreciation Rights shall be subject to the following terms and conditions:

 

(a)          Exercisability.
Stock Appreciation Rights shall be exercisable as shall be determined by the Committee and set forth in the Agreement, subject
to the limitations, if any, imposed by the Code, with respect to related Incentive Stock Options.

 

(b)          Termination.
A Stock Appreciation Right shall terminate and shall no longer be exercisable upon the termination or exercise of the related Stock
Option.

 

(c)          Method
of Exercise. Stock Appreciation Rights shall be exercisable upon such terms and conditions as shall be determined by the Committee
and set forth in the Agreement and by surrendering the applicable portion of the related Stock Option. Upon such exercise and surrender,
the Holder shall be entitled to receive a number of shares of Common Stock equal to the SAR Value divided by the Fair Market Value
on the date the Stock Appreciation Right is exercised.

 

(d)          Shares
Affected Upon Plan. The granting of a Stock Appreciation Right shall not affect the number of shares of Common Stock available
for Awards under the Plan. The number of shares available for Awards under the Plan will, however, may be reduced by the number
of shares of Common Stock acquirable upon exercise of the Stock Option to which such Stock Appreciation Right relates.

 

8.          Restricted
Stock.

 

8.1           Grant.
Shares of Restricted Stock may be awarded either alone or in addition to other Awards granted under the Plan. The Committee, subject
to Board authorization, if indicated, shall determine the eligible persons to whom, and the time or times at which, grants of Restricted
Stock will be awarded, the number of shares to be awarded, the price (if any) to be paid by the Holder, the time or times within
which such Awards may be subject to forfeiture (“Restriction Period”), the vesting schedule and rights to acceleration
thereof, and all other terms and conditions of the Awards.

 

8.2           Terms
and Conditions. Each Restricted Stock Award shall be subject to the following terms and conditions:

 

    	11

    	 

    

 

(a)          Certificates.
Restricted Stock, when issued, will be represented by a stock certificate or certificates registered in the name of the Holder
to whom such Restricted Stock shall have been awarded. During the Restriction Period, certificates representing the Restricted
Stock and any securities constituting Retained Distributions (as defined below) shall bear a legend to the effect that ownership
of the Restricted Stock (and such Retained Distributions), and the enjoyment of all rights appurtenant thereto, are subject to
the restrictions, terms and conditions provided in the Plan and the Agreement. Such certificates shall be deposited by the Holder
with the Company, together with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer
to the Company of all or any portion of the Restricted Stock and any securities constituting Retained Distributions that shall
be forfeited or that shall not become vested in accordance with the Plan and the Agreement.

 

(b)          Rights
of Holder. Restricted Stock shall constitute issued and outstanding shares of Common Stock for all corporate purposes. The
Holder will have the right to vote such Restricted Stock, to receive and retain all regular cash dividends and other cash equivalent
distributions as the Board may in its sole discretion designate, pay or distribute on such Restricted Stock and to exercise all
other rights, powers and privileges of a holder of Common Stock with respect to such Restricted Stock, with the exceptions that
(i) the Holder will not be entitled to delivery of the stock certificate or certificates representing such Restricted Stock until
the Restriction Period shall have expired and unless all other vesting requirements with respect thereto shall have been fulfilled;
(ii) the Company will retain custody of the stock certificate or certificates representing the Restricted Stock during the Restriction
Period; (iii) other than regular cash dividends and other cash equivalent distributions as the Board may in its sole discretion
designate, pay or distribute, the Company will retain custody of all distributions (“Retained Distributions”)
made or declared with respect to the Restricted Stock (and such Retained Distributions will be subject to the same restrictions,
terms and conditions as are applicable to the Restricted Stock) until such time, if ever, as the Restricted Stock with respect
to which such Retained Distributions shall have been made, paid or declared shall have become vested and with respect to which
the Restriction Period shall have expired; (iv) a breach of any of the restrictions, terms or conditions contained in this Plan
or the Agreement or otherwise established by the Committee with respect to any Restricted Stock or Retained Distributions will
cause a forfeiture of such Restricted Stock and any Retained Distributions with respect thereto.

 

(c)          Vesting;
Forfeiture. Upon the expiration of the Restriction Period with respect to each Award of Restricted Stock and the satisfaction
of any other applicable restrictions, terms and conditions (i) all or part of such Restricted Stock shall become vested in accordance
with the terms of the Agreement, subject to Section 10, below, and (ii) any Retained Distributions with respect to such Restricted
Stock shall become vested to the extent that the Restricted Stock related thereto shall have become vested, subject to Section
10, below. Any such Restricted Stock and Retained Distributions that do not vest shall be forfeited to the Company and the Holder
shall not thereafter have any rights with respect to such Restricted Stock and Retained Distributions that shall have been so forfeited.

 

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9.           Other Stock-Based Awards.

 

Other Stock-Based Awards
may be awarded, subject to limitations under applicable law, that are denominated or payable in, valued in whole or in part by
reference to, or otherwise based on, or related to, shares of Common Stock, as deemed by the Committee to be consistent with the
purposes of the Plan, including, without limitation, purchase rights, shares of Common Stock awarded which are not subject to any
restrictions or conditions, or other rights convertible into shares of Common Stock and Awards valued by reference to the value
of securities of or the performance of specified Subsidiaries. Other Stock-Based Awards may be awarded either alone or in addition
to or in tandem with any other Awards under this Plan or any other plan of the Company. Each other Stock-Based Award shall be subject
to such terms and conditions as may be determined by the Committee.

 

10.           Accelerated Vesting and Exercisability.

 

10.1         Non-Approved
Transactions. If any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes
the “beneficial owner” (as referred in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing 30% or more of the combined voting power of the Company’s then outstanding securities in one or
more transactions, and the Board does not authorize or otherwise approve such acquisition, then the vesting periods of any and
all Stock Options and other Awards granted and outstanding under the Plan shall be accelerated and all such Stock Options and Awards
will immediately and entirely vest, and the respective holders thereof will have the immediate right to purchase and/or receive
any and all Common Stock subject to such Stock Options and Awards on the terms set forth in this Plan and the respective agreements
respecting such Stock Options and Awards.

 

10.2         Approved
Transactions. The Committee may, subject to Board authorization, if indicated, in the event of an acquisition of substantially
all of the Company’s assets or at least 50% of the combined voting power of the Company’s then outstanding securities
in one or more transactions (including by way of merger or reorganization) which has been approved by the Company’s Board
of Directors, (i) accelerate the vesting of any and all Stock Options and other Awards granted and outstanding under the Plan,
and (ii) require a Holder of any Award granted under this Plan to relinquish such Award to the Company upon the tender by the Company
to Holder of cash in an amount equal to the Repurchase Value of such Award.

 

11.           Amendment and Termination.

 

The Board may at any
time, and from time to time, amend alter, suspend or discontinue any of the provisions of the Plan, but no amendment, alteration,
suspension or discontinuance shall be made that would impair the rights of a Holder under any Agreement theretofore entered into
hereunder, without the Holder’s consent.

 

12.           Term of Plan.

 

12.1         Effective
Date. The Plan shall become effective at such time as the Plan is approved and adopted by the Company’s Board of Directors
(the “Effective Date”), subject to the following provisions:

 

    	13

    	 

    

 

(a)          to
the extent that the Plan authorizes the Award of Incentive Stock Options, shareholder approval for the Plan shall be obtained within
12 months of the Effective Date; and

 

(b)          the
failure to obtain shareholder for the Plan as contemplated by subparagraph (a) of this Section 12 shall not invalidate the Plan;
provided, however, that (i) in the absence of such shareholder approval, Incentive Stock Options may not be awarded under the Plan
and (ii) any Incentive Stock Options theretofore awarded under the Plan shall be converted into Non-Qualified Options upon terms
and conditions determined by the Committee to reflect, as nearly as is reasonably practicable in its sole determination, the terms
and conditions of the Incentive Stock Options being so converted.

 

12.2         Termination
Date. Unless otherwise terminated by the Board, this Plan shall continue to remain effective until the earlier of ten (10)
years from the Effective Date or such time as no further Awards may be granted and all Awards granted under the Plan are no longer
outstanding. Notwithstanding the foregoing, grants of Incentive Stock Options may be made only during the ten-year period following
the Effective Date.

 

13.         General
Provisions.

 

13.1         Written
Agreements. Each Award granted under the Plan shall be confirmed by, and shall be subject to the terms, of the Agreement executed
by the Company and the Holder. The Committee may terminate any Award made under the Plan if the Agreement relating thereto is not
executed and returned to the Company within 10 days after the Agreement has been delivered to the Holder for his or her execution.

 

13.2         Unfunded
Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation.
With respect to any payments not yet made to a Holder by the Company, nothing contained herein shall give any such Holder any rights
that are greater than those of a general creditor of the Company.

 

13.3         Employees.

 

(a)          Engaging
in Competition with the Company; Disclosure of Confidential Information. If a Holder’s employment with the Company or
a Subsidiary is terminated for any reason whatsoever, and within three months after the date thereof such Holder either (i) accepts
employment with any competitor of, or otherwise engages in competition with, the Company or (ii) discloses to anyone outside the
Company or uses any confidential information or material of the Company in violation of the Company’s policies or any agreement
between the Holder and the Company, the Committee, in its sole discretion, may require such Holder to return to the Company the
economic value of any Award that was realized or obtained by such Holder at any time during the period beginning on that date that
is six months prior to the date such Holder’s employment with the Company is terminated.

 

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(b)          Termination
for Cause. The Committee may, if a Holder’s employment with the Company or a Subsidiary is terminated for cause, annul
any Award granted under this Plan to such employee and, in such event, the Committee, in its sole discretion, may require such
Holder to return to the Company the economic value of any Award that was realized or obtained by such Holder at any time during
the period beginning on that date that is six months prior to the date such Holder’s employment with the Company is terminated.

 

(c)          No
Right of Employment. Nothing contained in the Plan or in any Award hereunder shall be deemed to confer upon any Holder who
is an employee of the Company or any Subsidiary any right to continued employment with the Company or any Subsidiary, nor shall
it interfere in any way with the right of the Company or any Subsidiary to terminate the employment of any Holder who is an employee
at any time.

 

13.4.          Investment
Representations; Company Policy. The Committee may require each person acquiring shares of Common Stock pursuant to a Stock
Option or other Award under the Plan to represent to and agree with the Company in writing that the Holder is acquiring the shares
for investment without a view to distribution thereof. Each person acquiring shares of Common Stock pursuant to a Stock Option
or other Award under the Plan shall be required to abide by all policies of the Company in effect at the time of such acquisition
and thereafter with respect to the ownership and trading of the Company’s securities.

 

13.5         Additional
Incentive Arrangements. Nothing contained in the Plan shall prevent the Board from adopting such other or additional incentive
arrangements as it may deem desirable, including, but not limited to, the granting of Stock Options and the Awarding of Common
Stock and cash otherwise than under the Plan; and such arrangements may be either generally applicable or applicable only in specific
cases.

 

13.6         Withholding
Taxes. Not later than the date as of which an amount must first be included in the gross income of the Holder for Federal income
tax purposes with respect to any option or other Award under the Plan, the Holder shall pay to the Company, or make arrangements
satisfactory to the Committee regarding the payment of, any Federal, state and local taxes of any kind required by law to be withheld
or paid with respect to such amount. If permitted by the Committee, tax withholding or payment obligations may be settled with
Common Stock, including Common Stock that is part of the Award that gives rise to the withholding requirement. The obligations
of the Company under the Plan shall be conditioned upon such payment or arrangements and the Company or the Holder’s employer
(if not the Company) shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind
otherwise due to the Holder from the Company or any Subsidiary.

 

13.7         Governing
Law. The Plan and all Awards made and actions taken thereunder shall be governed by and construed in accordance with the laws
of the State of Virginia.

 

13.8         Other
Benefit Plans. Any Award granted under the Plan shall not be deemed compensation for purposes of computing benefits under any
retirement plan of the Company or any Subsidiary and shall not affect any benefits under any other benefit plan now or subsequently
in effect under which the availability or amount of benefits is related to the level of compensation (unless required by specific
reference in any such other plan to Awards under this Plan).

 

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13.9         Non-Transferability.
Except as otherwise expressly provided in the Plan or the Agreement, no right or benefit under the Plan may be alienated, sold,
assigned, hypothecated, pledged, exchanged, transferred, encumbered or charged, and any attempt to alienate, sell, assign, hypothecate,
pledge, exchange, transfer, encumber or charge the same shall be void.

 

13.10         Applicable
Laws. The obligations of the Company with respect to all Stock Options and Awards under the Plan shall be subject to (i) all
applicable laws, rules and regulations and such approvals by any governmental agencies as may be required, including, without limitation,
the Securities Act of 1933, as amended, and (ii) the rules and regulations of any securities exchange on which the Common Stock
may be listed.

 

13.11         Conflicts.
If any of the terms or provisions of the Plan or an Agreement conflict with the requirements of Section 422 of the Code, then such
terms or provisions shall be deemed inoperative to the extent they so conflict with such requirements. Additionally, if this Plan
or any Agreement does not contain any provision required to be included herein under Section 422 of the Code, such provision shall
be deemed to be incorporated herein and therein with the same force and effect as if such provision had been set out at length
herein and therein. If any of the terms or provisions of any Agreement conflict with any terms or provisions of the Plan, then
such terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of the Plan. Additionally,
if any Agreement does not contain any provision required to be included therein under the Plan, such provision shall be deemed
to be incorporated therein with the same force and effect as if such provision had been set out at length therein.

 

13.12         Non-Registered
Stock. The shares of Common Stock to be distributed under this Plan have not been, as of the Effective Date, registered under
the Securities Act of 1933, as amended, or any applicable state or foreign securities laws and the Company has no obligation to
any Holder to register the Common Stock or to assist the Holder in obtaining an exemption from the various registration requirements,
or to list the Common Stock on a national securities exchange or any other trading or quotation system.

 

    	16

    	 

    

 

Plan Amendments

 

	
         

        Date

        Approved by

        Board
	 	
        Date

        Approved by

        Shareholders,

        if necessary
	 	
         

        Sections

        Amended
	 	
         

         

        Description of Amendment(s)

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	17

    	 

    

 

FORM OF OPTION AWARD AGREEMENT

 

IceWEB, Inc.

2012 EQUITY COMPENSATION PLAN

[DATE]

	 	 
	 	 
	 	 

 

Re:Stock Option

 

Dear __________:

 

We are pleased to advise
you that, on [_______], the Board of Directors of IceWEB, Inc. (the “Company”) authorized the Award to you of
an option to purchase [_______] shares of our common stock, par value $0.001 per share (the “Option”), upon
the following terms and conditions:

 

1.          The
Option is granted in accordance with and subject to the terms and conditions of the Company’s 2010Equity Compensation Plan
(the “Plan”).

 

2.          The
Option is [an incentive] [non-qualified] stock option.

 

3.          The
Option is exercisable commencing on [__________] and terminating at 5:00 pm New York time on [__________].

 

4.          The
price at which the Option may be exercised is $[_____] per share.

 

5.          The
Option is non-transferable and may be exercised, in whole or in part, during the exercise period, only by you, except that upon
your death, the Option may be exercised strictly in accordance with the terms and conditions of the Plan.

 

6.          The
exercise price and number of shares issuable upon exercise of the Option (the “Option Shares”) are subject to
adjustment in accordance with the Plan in the event of stock splits, dividends, reorganizations and similar corporate events.

 

7.          If,
neither the Option nor the Option Shares have been registered under the Securities Act of 1933, as amended (the “Act”),
and the Option Shares may not be sold, assigned, pledged, transferred or otherwise disposed of absent registration under the Act
or the availability of an applicable exemption from registration. All certificates evidencing the Option Shares will contain a
legend describing this restriction on resale of the Option Shares. There is no assurance that there will be a public market into
which you may sell the Option Shares or that you will be able to sell your Option Shares at a profit or at all.

 

    	18

    	 

    

 

8.          In
order to exercise the Option, you must provide us with written notice that you are exercising all or a portion of your Option.
The written notice must specify the number of Option Shares that you are exercising your Option for, and must be accompanied by
the exercise price described in paragraph 4, above. Your Option Shares will be issued to you within approximately one week following
our receipt of your exercise notice and cleared funds evidencing the exercise price.

 

9.          No
rights or privileges of a shareholder of the Company are conferred by reason of the grant of the Option to you. You will have no
rights of a shareholder until you have delivered your exercise notice to us and we have received the exercise price of the Option
in cleared funds.

 

You understand that
the Plan contains important information about your Option and your rights with respect to the Option. The Plan includes terms relating
to your right to exercise the Option; important restrictions on your ability to transfer the Option or Option Shares; provisions
relating to adjustments in the number of Option Shares and the exercise price; and early termination of the Option following the
occurrence of certain events; including the termination of your relationship with us. By signing below, you acknowledge your receipt
of a copy of the Plan. By acceptance of your Option, you agree to abide by the terms and conditions of the Plan.

 

10.          Our
business is subject to many risks and uncertainties. We may never operate profitably. The exercise of your Option is a speculative
investment and there is no assurance that you will realize a profit on the sale of Option Shares received upon exercise of your
Option.

 

11.          The
Option will become effective upon your acknowledgment of the terms and conditions of this Agreement and your delivery to us of
a signed counterpart of this Agreement.

 

12.          This
Agreement and Plan contain all of the terms and conditions of your Option and supersedes all prior agreements or understandings
relating to your Option. This Agreement shall be governed by the laws of the State of [X] without regard to the conflicts of law
provisions thereof.

 

13.          This
Agreement may not be amended orally.

 

	 	Very truly yours,	 
	 	 	 
	 	 	 
	 	Chief Executive Officer	 

 

	AGREED TO AND ACCEPTED THIS	 
	_____ DAY OF ________ 20__	 
	 	 
	(Signature)	 
	 	 
	(Print Name)	 

  

    	19

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