Document:

Unassociated Document

    
      
        
          
            

            [Form
              of
              Letter Agreement for Eugene Tan]

            

            [date]

            

            ASM
              Acquisition Company Limited

            Unit
              601-2, 6th
              Floor

            St.
              George’s Building

            2
              Ice
              House Street

            Central,
              Hong Kong

            

            UBS
              Securities LLC

            299
              Park
              Avenue

            New
              York,
              NY 10171

            

            
              	Re:	
                      Initial
                        Public Offering of ASM Acquisition Company
                        Limited

                    

            

            

            Ladies
              and Gentlemen:

            

            This
              letter is being delivered to you in accordance with the Underwriting
              Agreement
              (the “Underwriting
              Agreement”)
              entered into by and among ASM Acquisition Company Limited, an exempted
              company
              organized under the laws of the Cayman Islands (the “Company”),
              and
              UBS Securities LLC as the representative (the “Representative”)
              of the
              underwriters named in Schedule A thereto (collectively, the “Underwriters”),
              relating to an underwritten initial public offering (the “IPO”)
              of the
              Company’s units (the “Units”),
              each
              composed of one of the Company’s ordinary shares, par value $0.001 per share
              (the “Ordinary
              Shares”),
              and
              one warrant, which is exercisable for one Ordinary Share (the “Warrants”).
              Certain capitalized terms used herein are defined in paragraph 17
              hereof.

            

            In
              order
              to induce the Company and the Underwriters to enter into the Underwriting
              Agreement and to proceed with the IPO, and in recognition of the benefit
              that
              such IPO will confer upon the undersigned officer and/or director or
              advisor of
              the Company, and for other good and valuable consideration, the receipt
              and
              sufficiency of which are hereby acknowledged, the undersigned hereby
              agrees with
              the Company as follows:

            

            1. Neither
              the undersigned nor any affiliate of the undersigned will be entitled
              to
              receive, and no such person will accept, any finder’s fee, consulting fee,
              reimbursement or cash payment or any other form of compensation, including
              the
              issuance of the Company’s securities, from the Company for services rendered to
              the Company prior to or in connection with the consummation of a Business
              Combination, other than (subject to the following sentence) (a) repayment
              of those certain Promissory Notes in the amount of $125,000 and $250,000
              made to
              the Company by ASM SPAC(1) Limited, a British Virgin Islands incorporated
              company, to cover offering expenses; (b) a payment of an aggregate
              of $7,500 per
              month to Argyle Street Management Limited, a British Virgin Islands
              incorporated
              company, for office space, administrative services and secretarial
              support;
              (c) reimbursement for any reasonably incurred out-of-pocket expenses
              related to identifying, investigating and consummating a Business
              Combination; (d) other expenses or advances that the Company is permitted
              to
              incur; or (e) compensation or fees that may be received for any services
              provided following such Business Combination. The undersigned acknowledges
              that
              the Company’s Audit Committee (or the Company’s Board of Directors, with any
              interested director abstaining from such review and approval, in the
              case of a
              director who is a member of the Company’s Audit Committee) will review and
              approve all payments made to the undersigned, the Company’s Existing Holders,
              Founders, officers, directors and advisors and the Company’s or their
              affiliates, other than the payments described in clauses (a) and (b)
              of the
              immediately preceding sentence.

             

            
              
                
                

              

              
                
                

                
                  

                

              

              
                
                

              

            

             

            2. The
              undersigned acknowledges and agrees that the Company will not enter into
              any transaction with any of the Company’s officers, directors or advisors or any
              of the Company’s or their respective affiliates, including loans by the
              Company’s officers, directors and advisors and any forgiveness of loans,
              (a) without the prior approval by a majority of the Company’s
              disinterested, “independent” (as defined below) directors or, in the event the
              Company has no “independent” directors, the members of the Company’s Board of
              Directors who do not have an interest in the transaction, in either
              case who had
              access, at the Company’s expense, to the Company’s attorneys or independent
              legal counsel, and (b) unless the Company’s disinterested, “independent”
directors determine that the terms of such transaction are no less
              favorable to
              the Company than those that would be available to the Company with
              respect to
              such a transaction from unaffiliated third parties. As used herein
“independent”
means
              a
              director who qualifies as (a) an “independent director” under
              Section 121 of the American Stock Exchange’s AMEX Company Guide and
              (b) independent under Rule 10A-3 under the Securities Exchange Act of
              1934, as amended. 

            

            3. In
              order
              to minimize potential conflicts of interest which may arise from multiple
              affiliations, the undersigned agrees to present to the Company for
              its
              consideration, prior to presentation to any other person or entity,
              any suitable
              opportunity to acquire an operating business, until the earlier of
              the
              consummation by the Company of a Business Combination, the liquidation
              of the
              Company or until such time as the undersigned ceases to be an officer
              or
              director of the Company, subject to any pre-existing fiduciary and
              contractual
              obligations the undersigned might have. The undersigned agrees not
              to become
              affiliated with a blank check company other than the Company that may
              seek a
              Target Business until the earlier of the consummation by the Company
              of a
              Business Combination, the liquidation of the Company or until such
              time as the
              undersigned ceases to be an officer or director of the Company.

            

            4. The
              undersigned acknowledges and agrees that (i) the Company will not (a)
              consummate
              a Business Combination with a Target Business that is either (x) a
              portfolio
              company of, or has otherwise received a financial investment from,
              the Founders
              or their affiliates, or (y) affiliated with the Founders or the Company’s
              directors, officers or advisors, or (b) consummate a Business Combination
              with
              any Underwriter, or IPO selling group member, or any of their affiliates,
              unless, in each case, the Company obtains an opinion from an unaffiliated,
              independent investment banking firm which is a member of the Financial
              Industry
              Regulatory Authority (“FINRA”)
              that a
              Business Combination with such Target Business is fair to the Company’s
              shareholders from a financial point of view; and (ii) if, in connection
              with a
              Business Combination, any entity or entities with which the Company’s officers,
              directors or advisors are affiliated purchases a minority interest
              in the Target
              Business, the entity or entities affiliated with such officers, directors
              and/or
              advisors will be required to pay the same price per share or unit for
              their
              interest in the Target Business as the Company pays, the other terms
              of the
              investment of such affiliated entity or entities will be required to
              be no more
              favorable than the terms of the Company’s investment and such investment will
              require the prior approval by a majority of the Company’s disinterested,
“independent” directors.

            

            5. The
              undersigned will escrow any and all of (A) the Founders’ Units, Founders’
Shares and Founders’ Warrants (including the Ordinary Shares to be issued upon
              the exercise of the Founders’ Warrants) beneficially owned by him or her until
              one year after the consummation by the Company of a Business Combination
              and (B)
              the Insider Warrants (including the Ordinary Shares to be issued upon
              exercise
              of the Insider Warrants) beneficially owned by him or her until the
              consummation
              by the Company of a Business Combination subject to the terms of an
              Escrow
              Agreement which the Company will enter into with the Founders and the
              Existing
              Holders and an escrow agent acceptable to the Company.

             

            
              
                
                

              

              
                2

                
                  

                

              

              
                
                

              

            

             

            6. The
              undersigned agrees not to resign as Chief Executive Officer until the
              earlier of
              the consummation by the Company of a Business Combination or the date
              on which
              all of the conditions to the liquidation of the Company are satisfied
              (the
“Liquidation
              Date”),
              unless
              he
              or she becomes disabled by virtue of ill health or other disability
              and is
              unable to perform substantially and continuously his or her duties. The
              undersigned’s biographical and conflicts of interest information furnished to
              the Company and attached hereto as Exhibit A is true and accurate in
              all
              respects, does not omit any material information with respect to the
              undersigned’s background or conflicts of interest and contains all of the
              information required to be disclosed pursuant to Section 401 of Regulation
              S-K,
              promulgated under the Securities Act of 1933, as amended. The undersigned’s
              questionnaire(s) furnished to the Company and the Underwriters and
              attached
              hereto as Exhibit B is true and accurate in all respects. The undersigned
              represents and warrants that:

            

            (a) the
              undersigned is not subject to or a respondent in any legal action for,
              any
              injunction, cease-and-desist order or order or stipulation to desist
              or refrain
              from, any act or practice relating to the offering of securities in
              any
              jurisdiction;

            

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

            

            (c) the
              undersigned has never been suspended or expelled from membership in
              any
              securities or commodities exchange or association or had a securities
              or
              commodities license or registration denied, suspended or revoked.

            

            7. The
              undersigned hereby agrees (i) not to request that the Company’s Board of
              Directors consider any proposal to eliminate or amend Article 170 of
              the
              Company’s Amended and Restated Memorandum and Articles of Association, (ii)
              in
              connection with any shareholder vote on a proposal to amend the Company’s
              Amended and Restated Memorandum and Articles of Association, to vote
              any and all
              of the Founders’ Shares owned directly or indirectly by him or her in the same
              manner as a majority of the Public Shareholders, and (iii) not to seek
              shareholder approval to extend the amount of time the Company has to
              consummate
              a Business Combination beyond the Extended Period. This paragraph may
              not be
              modified or amended under any circumstances.

            

            8. The
              undersigned has full right and power, without violating any agreement
              by which
              he or she is bound (including, without limitation, any non-competition
              or
              non-solicitation agreement with any employer or former employer), to
              enter into
              and perform under this letter agreement and serve as Chief Executive
              Officer,
              and hereby consents to being named in the Registration Statement as
              an officer
              of the Company.

            

            9. If
              the
              Company seeks approval of its shareholders of either the Extended Period
              or a
              Business Combination, the undersigned will:

            

            (a) vote
              any
              Founder’s Shares owned directly or indirectly by him or her in accordance with
              the majority of the Ordinary Shares voted by the Company’s Public Shareholders
              in connection with the vote on the Extended Period or any Business
              Combination,
              as applicable; and

            

            (b) vote
              all
              Ordinary Shares that he or she may acquire in or following the IPO
              in favor of
              the Extended Period or the Business Combination, as applicable.

            

            In
              addition, the undersigned waives his or her right to exercise redemption
              rights
              with respect to any Ordinary Shares owned or to be owned by the undersigned,
              directly or indirectly, and agrees that he or she will not seek redemption
              with
              respect to such shares in connection with any vote to approve the Extended
              Period or a Business Combination.

             

            
              
                
                

              

              
                3

                
                  

                

              

              
                
                

              

            

             

            10. The
              undersigned hereby waives any and all right, title, interest or claim
              of any
              kind in or to (i) any and all of the quarterly distributions (the “Quarterly
              Distributions”)
              required by the Company’s Amended and Restated Memorandum and Articles of
              Association and described in the Company’s final prospectus relating to the IPO
              and (ii) any distributions of the Trust Account, or to any other amounts
              distributed in connection with a liquidating distribution of the Company,
              in
              each case, with respect to his or her Founders’ Shares and the Ordinary Shares
              underlying the Founders’ Warrants or the Insider Warrants (any “Claim”),
              and
              hereby waives any Claim the undersigned may have in the future as a
              result of,
              or arising out of, any contracts or agreements with the Company and
              will not
              seek recourse against the Company or the Trust Account for any reason
              whatsoever; provided that the foregoing shall not apply to any Ordinary
              Shares
              underlying the Units issued in the IPO (the “IPO
              Shares”)
              acquired by the undersigned. The undersigned hereby agrees that the
              Company
              shall be entitled to reimbursement from the undersigned for any Quarterly
              Distribution, any distribution of the Trust Account or any other amounts
              distributed by the Company in connection with a liquidating distribution
              received by the undersigned with respect to his or her Founders’ Shares or the
              Ordinary Shares underlying the Founders’ Warrants or the Insider
              Warrants.

            

            11. The
              undersigned agrees to indemnify and hold harmless the Company, jointly
              and
              severally with ASM SPAC(1) Limited and the other Founders, against
              any and all
              losses, liabilities, claims, damages and expenses whatsoever (including,
              but not
              limited to, any and all legal or other expenses reasonably incurred
              in
              investigating, preparing or defending against any litigation, whether
              pending or
              threatened, or any claim whatsoever) (collectively, “Damages”)
              to
              which the Company may become subject, but only if, and to the extent
              (a) the
              claims reduce the amounts in the Trust Account available for payment
              to holders
              of the IPO Shares in the event of a liquidation of the Trust Account
              and (b) the
              claims are made (i) by a vendor for services rendered, or products
              sold, to the
              Company; (ii) by a third party with which the Company enters into a
              contractual
              relationship following consummation of the IPO; or (iii) by a prospective
              Target
              Business arising out of any negotiations, contracts or agreements with
              the
              Company, provided that such indemnity shall not apply to any amounts
              claimed
              owed to a third party who executed a valid and legally enforceable
              waiver of any
              right, title, interest or claim of any kind in or to the Trust Account,
              or as to
              any claims under the Company’s obligation to indemnify the Underwriters against
              certain liabilities, including liabilities under the Securities Act
              of 1933, as
              amended. In the case of the Company’s dissolution and liquidation, the
              undersigned understands that the Company expects that all costs and
              expenses
              associated with implementing the Company’s plan of distribution, as well as
              payments to any creditors, will be funded from amounts remaining out
              of the
              $50,000 of proceeds from the IPO held outside the Trust Account and
              from the up
              to $2.5 million in interest income on the balance of the Trust Account
              that will
              be released to the Company to fund its working capital and general
              corporate
              requirements. Should the aforementioned funds not be sufficient, the
              undersigned
              hereby agrees to reimburse the Company for its out-of-pocket costs
              associated
              with its dissolution and liquidation, excluding any special, indirect
              or
              consequential costs, such as litigation, pertaining to the dissolution
              and
              liquidation. The undersigned hereby represents and warrants to the
              Company that
              it is an accredited investor as such term is defined in Regulation D under
              the Securities Act of 1933, as amended.

            

            12. This
              letter agreement shall be binding on the undersigned and such person’s
              respective successors, heirs, personal representatives and assigns.
              This letter
              agreement shall terminate on the earlier of (a) the consummation of
              a Business
              Combination and (b) the Liquidation Date; provided that such termination
              shall
              not relieve the undersigned from liability for any breach of this agreement
              prior to its termination.

             

            
              
                
                

              

              
                4

                
                  

                

              

              
                
                

              

            

             

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

            

            14. The
              undersigned acknowledges and understands that the Company and the Underwriters
              will rely upon the agreements, representations and warranties set forth
              herein
              in proceeding with the IPO. Nothing contained herein shall be deemed
              to render
              the Underwriters a representative of, or a fiduciary with respect to,
              the
              Company, its shareholders, or any creditor or vendor of the Company
              with respect
              to the subject matter hereof.

            

            15. This
              letter agreement shall be governed by and interpreted and construed
              in
              accordance with the laws of the State of New York applicable to contracts
              formed
              and to be performed entirely within the State of New York, without
              regard to the
              conflicts of law provisions thereof to the extent such principles or
              rules would
              require or permit the application of the laws of another
              jurisdiction.

            

            16. No
              term
              or provision of this letter agreement may be amended, changed, waived,
              altered
              or modified except by written instrument executed and delivered by
              the party
              against whom such amendment, change, waiver, alteration or modification
              is to be
              enforced.

            

            17. As
              used
              herein:

            

            
              	 	
                      ·

                    	
                      “Business
                        Combination”
                        means the acquisition of all or at least a majority of the
                        equity interest
                        in one or more Target Businesses through a merger, capital
                        stock exchange,
                        asset acquisition, stock purchase, or other similar transaction,
                        including
                        obtaining a majority interest through contractual
                        arrangements.

                    

            

            

            
              	 	
                      ·

                    	
                      “Existing
                        Holders”
                        means all of the holders of the Company’s securities before completion of
                        the IPO.

                    

            

            

            
              	 	
                      ·

                    	
                      “Extended
                        Period”
                        means the 12 month extension to the time period within which
                        the Company
                        must complete a Business Combination, which extension is
                        conditioned upon
                        (i) the Company entering into a letter of intent, agreement
                        in principle
                        or definitive agreement with respect to a Business Combination
                        within 24
                        months following the consummation of the IPO, (ii) the Company’s
                        shareholders approving the Extended Period at a special meeting
                        of the
                        Company’s shareholders for the purpose of soliciting their approval
                        for
                        such extension, and (iii) holders of less than 30.0% of the
                        IPO Shares
                        both voting against the Extended Period and exercising their
                        redemption
                        rights in connection with such
                        vote.

                    

            

            

            
              	 	
                      ·

                    	
                      “Founders”
                        means the Company’s officers and directors and ASM SPAC(1)
                        Limited.

                    

            

            

            
              	 	
                      ·

                    	
                      “Founders’
                        Units”
                        means the 4,312,500 units purchased from the Company by ASM
                        SPAC(1)
                        Limited on December 12, 2007 (up to 562,500 of which Founders’ Units will
                        be redeemed by the Company to the extent that the Underwriters
                        do not
                        exercise their over-allotment option) for a purchase price
                        of $25,000, or
                        approximately $0.006 per Founders’ Unit. Each Founders’ Unit consists of
                        one Ordinary Share (each a “Founders’
                        Share”)
                        and one warrant to purchase one Ordinary Share (each a “Founders’
                        Warrant”).
                        In February 2008, (a) Keith Wu purchased 215,625 Founders’ Units, (b)
                        Kenneth Gaw purchased 215,625 Founders’ Units, (c) Kenneth Shen purchased
                        269,531 Founders’ Units and (d) Richard Gadbois purchased 53,906 Founders’
                        Units (an aggregate of 754,687 Founders’ Units) from ASM SPAC(1) Limited
                        for approximately $0.006 per Founders’
Unit.

                    

            

             

            
              
                
                

              

              
                5

                
                  

                

              

              
                
                

              

            

             

            
              	 	
                      ·

                    	
                      “Insider
                        Warrants”
                        means the 4,550,000 warrants ASM SPAC(1) Limited, Keith Wu,
                        Kenneth Gaw,
                        Kenneth Shen and Richard Gadbois have committed to purchase
                        at a price of
                        $1.00 per warrant for an aggregate purchase price of $4,550,000
                        in a
                        private placement that will occur immediately prior to the
                        completion of
                        the IPO.

                    

            

            

            
              	 	
                      ·

                    	
                      “Public
                        Shareholders”
                        means purchasers of Ordinary Shares in the IPO or in the
                        secondary market,
                        including any of the Company’s officers or directors and their affiliates
                        to the extent that they purchase or acquire Ordinary Shares
                        in the IPO or
                        in the secondary market.

                    

            

            

            
              	 	
                      ·

                    	
                      “Target
                        Business”
                        means one or more operating businesses having its primary
                        operations in
                        Asia (including, without limitation, each country located
                        in the Eastern,
                        Southern and South Eastern subregions of Asia, but specifically
                        excluding
                        North Korea), which, after completion of the IPO, the Company
                        may target
                        for a Business Combination.

                    

            

            

            
              	 	
                      ·

                    	
                      “Trust
                        Account”
                        means the trust account established under the Investment
                        Management Trust
                        Agreement, dated as of [________], 2008, by and between the
                        Company and
                        Continental Stock Transfer & Trust
                        Company.

                    

            

            
              
                 

                
 

                
                  	 	
                          By:

                        	
                                
                            

                        	 
	 	
                           

                        	
                          Name:
                            Eugene Tan

                        	 
	 	
                           

                        	
                          Title:
                            Chief Executive Officer

                        	 

                

                 

                Accepted
                  and agreed:

              

              
                

                ASM
                  ACQUISITION COMPANY LIMITED

                

                

                
                  	
                          By:

                        	
                             
                            

                        	 
	
                           

                        	
                          Name:
                            

                        	 
	
                           

                        	
                          Title:
                            

                        	 

                

                 

                
                  
                    
                    

                  

                  
                    6

                    
                      

                    

                  

                  
                    
                    

                  

                

              

            

             

            Exhibit
              A

            [Biographical
              and Conflicts of Interest Information Furnished to the Company]

             

             

            
              
                
                

              

              
                A-1

                
                  

                

              

              
                
                

              

            

            Exhibit
              B

            [D&O
              Questionnaire and NASD Questionnaire]

             

          

        

        

        
          
            
            

          

          
            B-1Unassociated Document

    Investment
      Management Trust Agreement

     

    This
      Investment Management Trust Agreement (this “Agreement”)
      is
      made as of [●], 2008 by and between ASM Acquisition Company Limited (the
“Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form F−1, No. 333-148549 (the
“Registration
      Statement”),
      relating to the Company’s initial public offering of securities (“IPO”)
      has
      been declared effective as of the date hereof by the Securities and Exchange
      Commission (the “Effective
      Date”);

     

    WHEREAS,
      UBS Securities LLC is acting as the representative (the “Representative”)
      of the
      underwriters (collectively, the “Underwriters”)
      in the
      IPO;

     

    WHEREAS,
      the Company will complete a private placement of 4,550,000 warrants at a price
      of $1.00 per warrant (the “Private
      Placement”)
      immediately prior to the completion of the IPO;

     

    WHEREAS,
      as described in the Registration Statement, and in accordance with the Company’s
      Amended and Restated Articles of Association, $148,500,000 of the net proceeds
      of the IPO and the Private Placement ($170,212,500 if the Underwriters’
over-allotment option is exercised in full), including $5,250,000 for deferred
      underwriting discounts and commissions ($6,037,500 if the Underwriters’
over-allotment option is exercised in full), will be delivered to the Trustee
      to
      be deposited and held in a trust account for the benefit of the Company and
      the
      holders of the Company’s ordinary shares, par value $0.001, issued in the IPO.
      The amount to be delivered to the Trustee will be referred to herein as the
      “Property,”
and
      the parties for whose benefit the Trustee shall hold the Property will be
      referred to together with the Company as the “Beneficiaries”;

     

    WHEREAS,
      pursuant to the Underwriting Agreement, a portion of the Property equal to
      $5,250,000 ($6,037,500, if the Underwriters’ over-allotment option is exercised
      in full) (or the amount specified in a notice pursuant to paragraph 2(d) hereof)
      is attributable to deferred underwriting commissions that will become payable
      by
      the Company to the Underwriters upon the consummation of an initial business
      combination (as that term is defined in the Registration Statement, an
“Initial
      Business Combination”)
      (the
“Deferred
      Discount”);
      and

     

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

     

    NOW,
      THEREFORE, in consideration of the premises herein contained and other good
      and
      valuable consideration, the sufficiency of which is hereby acknowledged, the
      parties agree as follows:

     

    1.  Agreement
      and Covenants of Trustee 

     

    The
      Trustee hereby agrees and covenants to:

     

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

     

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

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

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

     

    (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)  Promptly
      notify the Company and the Underwriters 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
      Underwriters to do so;

     

    (h)  Render
      to
      the Company and to the Underwriters, 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;
      

     

    (i)  Commence
      liquidation of the Trust Account only after receipt of and only in accordance
      with the terms of a letter (the “Termination
      Letter”),
      in a
      form substantially similar to that attached hereto as either Exhibit A or
      Exhibit B, signed on behalf of the Company by its Chief Executive Officer or
      Chairman or other authorized officer, and complete the liquidation of the Trust
      Account and distribute the Property in the Trust Account only as directed in
      the
      Termination Letter and the other documents referred to therein; provided,
      however, that in the event that a Termination Letter has not been received
      by
      the Trustee by the Last Date (as defined in paragraph 2(g) below), the Trust
      Account shall be liquidated in accordance with the procedures set forth in
      the
      Termination Letter attached as Exhibit B hereto and distributed to the
      stockholders of record on the Last Date; and

     

    (j)  Distribute
      the funds as directed in any Tax Disbursement Letter, Disbursement Letter or
      Quarterly Distribution Certificate (each as defined in paragraph 3(a) below)
      and
      any other documents referred to therein, and distribute, upon receipt of an
      Extension Notification Letter (as defined in paragraph 2(g) below), to the
      Company’s shareholders who exercised their redemption rights in connection with
      the Extension (as defined in paragraph 2(g) below) an amount equal to their
      pro
      rata share of the amounts in the Trust Account relating to the shares for which
      such shareholders have exercised redemption rights in connection with a vote
      of
      shareholders for the Extension, in each case in accordance with paragraph 3
      below.

     

    2.  Agreements
      and Covenants of the Company

     

    The
      Company hereby agrees and covenants to:

     

    (a)  Give
      all
      instructions to the Trustee hereunder in writing, signed by the Company’s Chief
      Executive Officer or one of its Co-Chief Investment Officers. In addition,
      except with respect to its duties under paragraph 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
      any one of the persons authorized above to give written instructions, provided
      that the Company shall promptly confirm such instructions in
      writing;

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (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 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 thereafter shall pay the annual fee on each
      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 Account. The Company shall not be responsible for any other fees
      or
      charges of the Trustee except as may be provided in paragraph 2(b) hereof (it
      being expressly understood that the Property shall not be used to make any
      payments to the Trustee under such paragraph);

     

    (d)  Within
      five business days after the Underwriters’ over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, provide the
      Trustee with a notice in writing (with a copy to the Representative) of the
      total amount of the Deferred Discount, which shall in no event be less than
      $5,250,000; 

     

    (e)  In
      connection with any vote of the Company’s stockholders on whether to approve an
      Initial Business Combination or the Extension (as defined in paragraph 2(g)
      below), provide to the Trustee an affidavit or certificate of a firm regularly
      engaged in the business of soliciting proxies and tabulating stockholder votes
      (which firm may be the Trustee) verifying the vote of the Company’s stockholders
      regarding such Initial Business Combination or Extension;

     

    (f)  In
      all
      cases, provide the Representative with a copy of any Termination Letters and/or
      any other correspondence that it sends to the Trustee with respect to any
      proposed withdrawal from the Trust Account promptly after it issues the same;
      and

     

    (g)  Within
      five business days after the vote of the Company’s shareholders regarding the
      Extension (as defined below) provide the Trustee with a letter in form
      substantially similar to that attached hereto as Exhibit F (an “Extension
      Notification Letter”)
      (with
      a copy to the Representatives) providing (i) that the Initial Last Date (as
      defined below) has been extended (the “Extension”)
      to the
      date that is 12 months after the Initial Last Date (such date, the “Extended
      Last Date”; as used herein the term “Initial
      Last Date”
shall
      mean the date that is 24 months after the Effective Date and the term
“Last
      Date”
shall
      mean the Initial Last Date unless and until there is the Extension in which
      case
      it shall thereafter mean the Extended Last Date), and (ii) instructions for
      the
      distribution of funds to the Company’s stockholders who exercised their
      redemption rights in connection with the Extension. 

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    3.  Liquidation
      and Distribution of Trust Account Property. 

     

    (a)
      The
      Trustee shall commence liquidation of the Trust Account only upon receipt of,
      and only in accordance with the terms of a Termination Letter in a form
      substantially similar to that attached hereto as either Exhibit A or Exhibit
      B,
      signed on behalf of the Company by its Chief Executive Officer or Chairman
      and
      affirmed by one of its Co-Chief Investment Officers, and complete the
      liquidation of the Trust Account and distribute the Property in the Trust
      Account only as directed in the Termination Letter and any other documents
      referred to therein; provided, however, that the Trustee shall disburse such
      funds from the Trust Account (i) from time to time as may be necessary timely
      to
      pay any taxes incurred as a result of interest or other income earned on the
      Property held in the Trust Account or other tax obligations of the Company,
      only
      upon receipt and in accordance with the terms of a letter in form substantially
      similar to that attached hereto as Exhibit C (a “Tax
      Disbursement Letter”),
      signed on behalf of the Company by its Chief Executive Officer or Chairman
      and
      copied to Authorized Counsel (as defined below), as evidenced by his or her
      countersignature thereto, and complete the disbursement of funds from the Trust
      Account and distribute such funds only as directed in the Tax Disbursement
      Letter and any other documents referred to therein; (ii) from time to time
      as
      may be necessary for working capital purposes, only upon receipt and in
      accordance with the terms of a letter in form substantially similar to that
      attached hereto as Exhibit D (a “Disbursement
      Letter”),
      signed on behalf of the Company by its Chief Executive Officer or Chairman
      and
      copied to Authorized Counsel, as evidenced by his or her countersignature
      thereto, the Trustee shall disburse to the Company such amount as may be
      requested by the Company as directed in the Disbursement Letter and the other
      documents referred to therein, provided, however, that the aggregate amount
      distributed by the Trustee to the Company pursuant to this paragraph 3(a)(ii)
      may not exceed the lesser of (y) the aggregate amount of interest and any other
      income actually received or paid on amounts in the Trust Account less an amount
      equal to estimated taxes that are or will be due on such income at an assumed
      rate of 40% and (z) $2,500,000; (iii) on a quarterly basis following the end
      of
      the applicable fiscal quarter of the Company as interest income distributions,
      only upon receipt and in accordance with the terms of a letter in form
      substantially similar to that attached hereto as Exhibit E (a “Quarterly
      Distribution Certificate”),
      signed on behalf of the Company by its Chief Executive Officer or Chairman
      and
      copied to Authorized Counsel, as evidenced by his or her countersignature
      thereto, the Trustee shall disburse to the holders of the Company’s ordinary
      shares issued in the IPO such amount as may be requested by the Company as
      directed in the Quarterly Distribution Certificate and the other documents
      referred to therein, provided, however, that the aggregate amount distributed
      by
      the Trustee to the holders pursuant to this paragraph 3(a)(iii) may not exceed
      the aggregate amount of interest and any other income actually received or
      paid
      on amounts in the Trust Account less an amount equal to estimated taxes that
      are
      or will be due on such income at an assumed rate of 40%; and (iv) as may be
      necessary for distribution of funds to the shareholders who exercised their
      redemption rights in connection with the Extension upon receipt and only in
      accordance with the terms of an Extension Notification Letter signed on behalf
      of the Company by
      its
      Chief Executive Officer or Chairman and copied to Authorized Counsel, as
      evidenced by his or her countersignature thereto, and complete the disbursement
      of funds from the Trust Account and distribute such funds only as directed
      in
      the Extension Notification Letter and the other documents referred to
      therein.
      For
      purposes of this Agreement, “Authorized Counsel” shall mean, at any date, the
      attorney retained and authorized by the Company to perform such
      functions.

     

    (b)
      The
      limited distributions referred to in paragraphs 3(a)(i), 3(a)(ii) and
      3(a)(iii) above shall be made only from interest and any other income collected
      on the Property. Except as provided in paragraph 3(a) above, no other
      distributions from the Trust Account shall be permitted except in accordance
      with paragraph 1(i) hereof.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    4.  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 paragraphs 1
      and 3 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 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 paragraph
      1(c);

     

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

     

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

     

    (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; or

     

    (h)  subject
      to the requirements of paragraph 3 of this Agreement, pay any taxes on behalf
      of
      the Trust Account to any governmental entity or taxing authority.

     

    5.  Termination.
      

     

    This
      Agreement shall terminate as follows:

     

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

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

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

     

    6.  Miscellaneous.

     

    (a)  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 conflict of laws. 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 may be made without the prior
      written consent of the Representative. As to any claim, cross-claim or
      counterclaim in any way relating to this Agreement, each party waives the right
      to trial by jury.

     

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

     

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

     

    if
      to the
      Trustee, to: 

     

    [____________________]

    [____________________]

    [____________________]

    [____________________]

    Fax
      No.:
      [●]

    Attn:
      [●]

    

    if
      to the
      Company, to:

     

    ASM
      Acquisition Company Limited

    Unit
      601-2, 6th
      Floor
      St. George’s Building

    2
      Ice
      House Street

    Central,
      Hong Kong

    Fax
      No.:
      [ •
      ]

    Attn:
      Eugene Tan, Chief Executive Officer

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    in
      either
      case with a copy to:

     

    UBS
      Investment Bank

    299
      Park
      Avenue 

    New
      York,
      NY 10171 

    Fax
      No:
      (212) 821-4610 

    Attn:
      [●]

    

    

    and

    

    Clifford
      Chance US LLP

    31
      West
      52nd
      Street

    New
      York,
      NY 10019-6131

    Fax
      No.:
      (212) 878-8375

    Attn:
      Alejandro E. Camacho, Esq.

    

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

     

    (g)  Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder.

     

    (h)  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, and 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. In the event
      the Trustee has a claim against the Company under this Agreement, including,
      without limitation, under paragraph 2(b), the Trustee will pursue such
      claim solely against the Company and not against the Property held in the Trust
      Account.

     

    (i)  The
      Trustee acknowledges and agrees that it is the specific intention of the parties
      hereto that the Representative is and shall be a third-party beneficiary of
      the
      provisions of this Agreement pertaining to the Deferred Discount (including
      paragraph 6(c)) and the Trustee’s obligations under this Agreement with respect
      thereto (but solely of those provisions and solely with respect to such
      obligations of the Trustee) with the same right and power to enforce those
      provisions as either of the parties hereto.

     

    [Signature
      Page Follows]

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

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

     

    [________________________________]

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    ASM
      ACQUISITION
      COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    Exhibit
      A 

     

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Transfer
      Agent]

    [Address]

     

    

     

    Re:
      Trust
      Account No. [●] Termination Letter 

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between ASM
      Acquisition Company Limited (the “Company”)
      and
      [____________] (the “Trustee”),
      dated
      as of [●], 2008 (the “Trust
      Agreement”),
      this
      is to advise you that the Company has entered into an agreement (the
“Business
      Agreement”)
      with
      [●] (the “Target
      Business”)
      to
      consummate a business combination with the Target Business (the “Business
      Combination”)
      on or
      about [●]. The Company shall notify you at least 48 hours in advance of the
      actual date of the consummation of the Business Combination (the “Consummation
      Date”).

     

    Pursuant
      to Paragraph 2(e) of the Trust Agreement, we are providing you with [an
      affidavit] [a certificate] verifying the vote of the Company’s stockholders duly
      approving the Business Combination in accordance with the terms of the Company’s
      Amended and Restated Articles of Association.

     

    The
      [affidavit] [certificate] includes the identities of the public stockholders
      who
      voted against the Business Combination and properly exercised their redemption
      rights in connection therewith.

     

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

     

    On
      the
      Consummation Date: (i) counsel for the Company shall deliver to you written
      notification that the Business Combination has been consummated, (ii) the
      Company shall deliver to you written instructions with respect to the transfer
      of the funds held in the Trust Account other than the Deferred Discount (the
      “Instruction
      Letter”)
      and
      (iii) the Representative shall deliver to you written instructions for delivery
      of the Deferred Discount. You are hereby directed and authorized to transfer
      the
      funds held in the Trust Account immediately upon your receipt of written notice
      from counsel and the Instruction Letter (a) to the public stockholders who
      exercised their redemption rights in connection with the Business Combination
      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
      Discount and any income actually received on the Trust Account balance and
      held
      in the Trust Account, but less an amount equal to estimated taxes that are
      or
      will be due on such income at an assumed rate of 40% relating to the shares
      for
      which shareholders have exercised redemption rights in connection with the
      vote
      of shareholders for the Business Combination, provided that such stockholders
      have tendered the applicable shares of the Company’s common stock to the
      Trustee; (b) to the Representative in an amount equal to the Deferred Discount
      as so directed by them, and (b) the remainder in accordance with the terms
      of
      the Instruction Letter. In the event that certain deposits held in the Trust
      Account may not be liquidated by the Consummation Date without penalty, you
      will
      notify the Company of the same, and the Company shall direct you as to whether
      such funds should remain in the Trust Account and be distributed after the
      Consummation Date to the Company or be distributed immediately and the penalty
      incurred. Upon the distribution of all the funds in the Trust Account pursuant
      to the terms hereof, the Trust Agreement shall be terminated and the Trust
      Account closed.

     

    
      
         

      

      
        A-1

        
          

        

      

      
         

      

    

     

    In
      the
      event that the Business Combination is not consummated on the Consummation Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then 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,

     

    ASM
      ACQUISITION COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Affirmed:
      

    

    By:
      _________________________________

    Name:

    Title:

     

     

    cc: UBS
      Securities LLC

     

    
      
         

      

      
        A-2

        
          

        

      

      
         

      

    

     

    Exhibit
      B 

     

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re:
      Trust
      Account No. [●] Termination Letter 

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between ASM
      Acquisition Company Limited (the “Company”)
      and
      [_____________] (the “Trustee”),
      dated
      as of [●], 2008 (the “Trust
      Agreement”),
      this
      is to advise you that (i) the Company has been unable to effect a Business
      Combination within the time frame specified in the Amended and Restated Articles
      of Association of the Company, (ii) the Company’s existence expired in
      accordance with the terms of its Amended and Restated Articles of Association
      on
      [●]; and (iii) the Company is proceeding to dissolve and liquidate.

     

    Capitalized
      terms used but not defined herein shall have the meanings given them in the
      Trust Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize and
      request that you 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 stockholders of record entitled to receive their
      per
      share portion of the Trust Account. The record date shall be within 10 days
      of
      the liquidation date, or as soon thereafter as is practicable. Company has
      appointed [●] to serve as its designated paying agent (the “Designated
      Paying Agent”).
      You
      will notify the Company and the Designated Paying Agent in writing as to when
      all of the funds in the Trust Account will be available for immediate transfer
      (the “Transfer
      Date”).
      The
      Designated Paying Agent shall thereafter notify you as to the account or
      accounts of the Designated Paying Agent that the funds in the Trust Account
      should be transferred to on the Transfer Date so that the Designated Paying
      Agent may commence distribution of such funds in accordance with the Company’s
      instructions. 

     

    
      
         

      

      
        B-1

        
          

        

      

      
         

      

    

    You
      shall
      have no obligation to oversee the Designated Paying Agent’s distribution of the
      funds. Upon the payment to the Designated Paying Agent of all the funds in
      the
      Trust Account, the Trust Agreement shall be terminated and the Trust Account
      closed.

     

    Very
      truly yours,

     

    ASM
      ACQUISITION COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Affirmed:
      

    

    By:
      _________________________________

    Name:

    Title:

     

     

    cc: UBS
      Securities LLC

     

    
      
         

      

      
        B-2

        
          

        

      

      
         

      

    

    Exhibit
      C 

     

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

    

     

    Re:
      Trust
      Account No. [●] Tax Disbursement Letter 

     

    Gentlemen:

     

    Pursuant
      to paragraph 3(a)(i) of the Investment Management Trust Agreement between ASM
      Acquisition Company Limited (the “Company”)
      and
      [______________] (the “Trustee”)
      dated
      as of [●] (the “Trust
      Agreement”),
      this
      is to advise you that the Trust Account, as defined in the Trust Agreement,
      has
      incurred a total of [●] in taxes (the “Tax
      Payments”)
      for
      the period from [●], 200[●] to [●], 200[●] (the “Tax
      Period”)
      as a
      result of interest and other income earned on the Property, as defined in the
      Trust Agreement or other
      tax
      obligations of the Company,
      in each
      case during the Tax Period.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      distribute from the Trust Account proceeds from the Property (as defined in
      the
      Trust Agreement) equal to the aggregate Tax Payments on such dates, in such
      amounts and to such payees as indicated on the Schedule of Tax Payments attached
      hereto as Schedule 1. All checks should be delivered to the Company at
      [address].

     

    Very
      truly yours,

     

    ASM
      ACQUISITION COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Authorized
      Counsel Signatory:

    

     

    By:
      _________________________________

    Name:

    Title:

     

     

    cc: UBS
      Securities LLC

     

    
      
         

      

      
        C-1

        
          

        

      

      
         

      

    

    Schedule
      1

     

    Schedule
      of Tax Payments

     

    

    Payment
      Date: [●]

    Amount:
      [●]

    Payee:
      [●]

    

    

    Payment
      Date: [●]

    Amount:
      [●]

    Payee:
      [●]

    

    

    Payment
      Date: [●]

    Amount:
      [●]

    Payee:
      [●]

    

    
      
         

      

      
        C-2

        
          

        

      

      
         

      

    

     

    Exhibit
      D 

     

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re:
      Trust
      Account No. [●] Disbursement Letter 

     

    Gentlemen:

     

    Pursuant
      to paragraph 3(a)(ii) of the Investment Management Trust Agreement between
      ASM Acquisition Company Limited (the “Company”)
      and
      [_____________________] dated as of [●] (the “Trust
      Agreement”),
      we
      hereby authorize you to disburse from the Trust Account proceeds from the
      Property, as defined in the Trust Agreement, equal to $[●], to [●] via wire
      transfer on [●], 200[●].

    Very
      truly yours,

     

    ASM
      ACQUISITION COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Authorized
      Counsel Signatory:

     

     

    By:
      _________________________________

    Name:

    Title:

     

    

    cc: UBS
      Securities LLC

    
      
         

      

      
        D-1

        
          

        

      

      
         

      

    

    

    Exhibit
      E 

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re:
      Trust
      Account No. [●] Quarterly Distribution Certificate 

     

    Gentlemen:

     

    Pursuant
      to paragraph 3(a)(iii) of the Investment Management Trust Agreement between
      ASM Acquisition Company Limited (the “Company”)
      and
      [_________] dated as of [●] (the “Trust
      Agreement”),
      you
      are instructed to distribute to the holders of the Company’s ordinary shares
      issued in the IPO of record as of , 200_, interest income earned on the Trust
      Account (as defined in the Trust Agreement) during the quarter ended
                                     ,
      200_, pursuant to the instructions attached hereto as Schedule A. Attached
      hereto is a copy of the minutes of the meeting of the Board of Directors of
      the
      Company approving the record date and distribution, certified by the Secretary
      of the Company as true and correct and in full force and effect. 

    

    ASM
      ACQUISITION COMPANY LIMITED

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Authorized
      Counsel Signatory:

     

     

    By:
      _________________________________

    Name:

    Title:

     

    

    cc: UBS
      Securities LLC

    

    
      
         

      

      
        E-1

        
          

        

      

      
         

      

    

     

    Exhibit
      F 

     

    [LETTERHEAD
      OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

    

     

    Re:
      Trust
      Account No. [●] Extension Notification Letter 

     

    Gentlemen:

     

    Pursuant
      to paragraphs 2(g) and 3(a)(iv) of the Investment Management Trust
      Agreement between ASM Acquisition Company Limited (the “Company”)
      and
      [●] dated as of [●], 2008 (the “Trust
      Agreement”),
      this
      is to advise you that on [●], 200[●] (the “Approval
      Date”)
      the
      Company’s shareholders approved an extension (the “Extension”)
      of the
      Initial Last Date, as defined in the Trust Agreement, to [●], 2011 (the
“Extended
      Last Date”).

    

    Pursuant
      to paragraph 2(e) of the Trust Agreement, we are providing you with [an
      affidavit] [a certificate] verifying the vote of the Company’s shareholders duly
      approving the Extension in accordance with the terms of the Company’s Amended
      and Restated Articles of Association.

     

    The
      [affidavit] [certificate] includes the identities of the public shareholders
      who
      voted against the Extension and properly exercised their redemption rights
      in
      connection therewith.

     

    You
      are
      hereby directed and authorized to transfer from the Trust Account proceeds
      from
      the Property, as defined in the Trust Agreement, to public shareholders who
      exercised their redemption rights in connection with the Extension and who
      have
      tendered the applicable shares of the Company’s common stock to you, in an
      amount equal to their pro rata share of the amounts in the Trust Account as
      of
      the Approval Date (including the Deferred Discount and any income actually
      received on the Trust Account balance and held in the Trust Account, but less
      an
      amount equal to estimated taxes that are or will be due on such income at an
      assumed rate of 40%) relating to the shares for which such shareholders have
      exercised redemption rights in connection with the vote of shareholders for
      the
      Extension.

    

    Very
      truly yours,

     

    ASM
      ACQUISITION COMPANY LIMITED

    

     

    By:
      _________________________________

    Name:

    Title:

     

     

    Authorized
      Counsel Signatory:

     

     

    By:
      _________________________________

    Name:

    Title:

     

     

    cc: UBS
      Securities LLC

     

    
      
         

      

      
        F-1

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