Document:

INVESTMENT
MANAGEMENT TRUST AGREEMENT

     

    This
INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Agreement”) is made
as of [●], 2011 by and between China VantagePoint Acquisition Company (the
“Company”) and
Continental Stock Transfer & Trust Company (the “Trustee”).

     

    WHEREAS,
the Company’s Registration Statement on Form S−1, No. 333-170006 (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,
EarlyBirdCapital, Inc. is acting as the underwriter (the “Underwriter”) in the
IPO;

     

    WHEREAS,
the Company will complete a private placement of an aggregate of 2,642,857
warrants at a price of $0.35 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, $15,000,000 of the net proceeds of
the IPO and the Private Placement ($17,171,250 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”;
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 CitiBank, N.A. 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 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 Underwriter, 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 date that is 24 months after the Effective Date (the “Last
Date”), 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 or Disbursement Letter, and
distribute, upon receipt of a Repurchase Notification Letter (as defined in
paragraph 2(f) below), to the Company’s shareholders whose securities have been
Repurchased (as defined in paragraph 2(f) below) an amount of up to $5.70, 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.  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;

     

    (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;

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (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)    In
connection with any Business Combination, 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;

     

    (e)    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

     

    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, 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 aggregate amount of interest and any other income
actually received or paid on amounts in the Trust Account; and (iii) from time
to time as may be necessary to pay for the Company’s purchase of up to 50% of
the Subunits sold in the IPO pursuant to the Company’s 10b5-1 Plan, only upon
receipt and in accordance with the terms of a letter in form substantially
similar to that attached hereto as Exhibit E (a “10b5-1 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 10b5-1 Letter. “Authorized Counsel”
shall mean, at any date, the attorney retained and authorized by the Company to
perform such functions.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (b)  The
limited distributions referred to in paragraphs 3(a)(i) and 3(a)(ii) 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.      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.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    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

     

    (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.  Except for Sections 1(i)
and 3(a) (which may not be modified, amended or deleted without the affirmative
vote of 75% of the then outstanding Subunits except that no such amendment will
affect any public shareholder who has otherwise either indicated his election to
redeem his Subunits), this Agreement or any provision hereof may only be
changed, amended or modified by a writing signed by each of the parties
hereto.  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.:
[●]

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
 

    Attn:
[●]

    

    if to the
Company, to:

     

    China
VantagePoint Acquisition Company

    485
Brickell Avenue, #617

    Miami, FL
33131

    Fax No.:
[  •  ]

    Attn: Wei
Li, Chief Executive Officer

    

    in either
case with a copy to:

     

    EarlyBirdCapital,
Inc.

    275
Madison Avenue, 27th
Floor

    New York,
NY 10016

    Fax No:
[  •  ]

    Attn:
Steven Levine

    

    and

    

    Loeb & Loeb LLP

    345 Park Avenue

    New York, NY 10154

    Fax No.: (212) 407-4990

    Attn: Mitchell S. Nussbaum,
Esq.Graubard Miller

     

    and

    

    Graubard Miller

    The Chrysler Buidling

    405 Lexington Avenue, 19th
Floor

    New York,
NY 10174

    Fax No.:
(212) 818-8000

    Attn: David Alan Miller,
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.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    [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:

              	 
      
	 
      	 
      
	
                CHINA
      VANTAGEPOINT ACQUISITION COMPANY

              
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	
                Name:
      Wei Li

              	 
      
	 
      	
                Title:
      Chief Executive Officer

              	 
      

      

    

       

    
      (Signature
Page)

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    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 China
VantagePoint Acquisition Company (the “Company”) and [____________]
(the “Trustee”), dated as
of [●], 2011 (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”).

     

    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 and (ii) the
Company shall deliver to you [(a) [an affidavit] [a certificate] of _________,
which verifies the vote of the Company’s shareholders in connection with the
Business Combination and (b)]1 joint written
instructions with respect to the transfer of the funds held in the Trust Account
(the “Instruction
Letter”).  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
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; 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.

       

    
      
        
          
            

            1 
Include only if there is a shareholder
vote.

          

        

      

    

    
      
         

      

      
        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,

              
	 
      	 
      
	
                CHINA
      VANTAGEPOINT ACQUISITION COMPANY

              
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	
                Name:

              	 
      
	 
      	
                Title:

              	 
      
	 
      	 
      
	
                Affirmed:

              
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	
                Name:

              	 
      
	 
      	
                Title:

              	 
      
	 
      	 
      
	
                cc:

              	
                EarlyBirdCapital,
      Inc.

              

      

    

     

    
      
         

      

      
        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 China
VantagePoint Acquisition Company (the “Company”) and
[_____________] (the “Trustee”), dated as
of [●], 2011 (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,

                
	 
	
                  CHINA
      VANTAGEPOINT ACQUISITION COMPANY

                
	 
      	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      	 
      
	
                  Affirmed:

                
	 
      	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      	 
      
	
                  cc:

                	
                  EarlyBirdCapital,
      Inc.

                

        

      

    

     

    
      
         

      

      
        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 China
VantagePoint Acquisition Company (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,

                
	 
	
                  CHINA
      VANTAGEPOINT ACQUISITION COMPANY

                
	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      
	
                  Authorized
      Counsel Signatory:

                
	 
      	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      	 
      
	
                  cc:

                	
                  EarlyBirdCapital,
      Inc.

                

        

      

    

     

    
      
         

      

      
        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
China VantagePoint Acquisition Company (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,

                
	 
	
                  CHINA
      VANTAGEPOINT ACQUISITION COMPANY

                
	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      	 
      
	
                  Authorized
      Counsel Signatory:

                
	 
      	 
      
	
                  By:

                	
                    

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      
	 
      	 
      
	
                  cc:

                	
                  EarlyBirdCapital,
      Inc.

                

        

      

    

     

    
      
         

      

      
        D-1

        
          

        

      

      
         

      

    

     

    Exhibit
E

    [LETTERHEAD
OF COMPANY]

     

    [date]

     

    [Trustee]

    [Address]

     

    Re: Trust Account No. [●]
Purchases of Subunits

     

    Gentlemen:

     

    Pursuant
to paragraph 3(a)(iii) of the Investment Management Trust Agreement between
China VantagePoint Acquisition Company (the “Company”) and
[_________] dated as of [●] (the “Trust Agreement”),
pursuant to the instructions attached hereto as Schedule A, you are instructed
to distribute funds held in the Trust Account to those shareholders listed on
Schedule A, from whom the Company has made purchases of Subunits pursuant to the
Company’s 10b5-1 Plan.

     

    
      
        	
                CHINA
      VANTAGEPOINT ACQUISITION COMPANY

              
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	
                Name:

              	 
      
	 
      	
                Title:

              	 
      
	 
      	 
      
	
                Authorized
      Counsel Signatory:

              
	 
      	 
      
	
                By:

              	
                  

              	 
      
	 
      	
                Name:

              	 
      
	 
      	
                Title:

              	 
      
	 
      	 
      
	
                cc:

              	
                EarlyBirdCapital,
      Inc.

              

      

    

     

    
      
         

      

      
        E-1SHARE
ESCROW AGREEMENT

    

    This SHARE ESCROW AGREEMENT, dated as
of ___________, 2011 (“Agreement”), by and among China VantagePoint Acquisition
Company, a Cayman Islands corporation (“Company”), Wei Li, Ye (Sophie) Tao and
Yiting Liu (collectively “Initial Shareholders”) and CONTINENTAL STOCK TRANSFER
& TRUST COMPANY, a New York corporation (“Escrow Agent”).

    

    WHEREAS, the Company has entered into
an Underwriting Agreement, dated ________, 2011 (“Underwriting Agreement”), with
EarlyBirdCapital, Inc. (“EBC”) acting as representative of the several
underwriters (collectively, the “Underwriters”), pursuant to which, among other
matters, the Underwriters have agreed to purchase up to 2,500,000 units
(“Units”) of the Company, plus up to an additional 375,000 Units pursuant to an
over-allotment option granted to the Underwriters.  Each Unit consists
of one subunit (the “Subunits”) and one-half of a warrant, and each Subunit
consists of one ordinary share of the Company, par value $.001 per share
(“Ordinary Shares”), and one-half of a Warrant, all as more fully described in
the Company’s final Prospectus, dated ________, 2011 (“Prospectus”) comprising
part of the Company’s Registration Statement on Form S-1 (File No. 333-170006)
under the Securities Act of 1933, as amended (“Registration Statement”),
declared effective on __________, 2011 (“Effective Date”).

    

    WHEREAS, the Initial Shareholders have
agreed as a condition of the sale of the Units to deposit their Ordinary Shares
of the Company, as set forth opposite their respective names in Exhibit A
attached hereto (collectively “Escrow Shares”), in escrow as hereinafter
provided.

    

    WHEREAS, the Company and the Initial
Shareholders desire that the Escrow Agent accept the Escrow Shares, in escrow,
to be held and disbursed as hereinafter provided.

    

    IT IS AGREED:

    

    1.           Appointment of Escrow
Agent.  The Company and the Initial Shareholders hereby appoint
the Escrow Agent to act in accordance with and subject to the terms of this
Agreement and the Escrow Agent hereby accepts such appointment and agrees to act
in accordance with and subject to such terms.

    

    2.           Deposit of Escrow
Shares.  On or before the Effective Date, each of the Initial
Shareholders shall deliver to the Escrow Agent certificates representing his
respective Escrow Shares, to be held and disbursed subject to the terms and
conditions of this Agreement.  Each Initial Shareholder acknowledges
that the certificate representing his Escrow Shares is legended to reflect the
deposit of such Escrow Shares under this Agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    3.           Disbursement of the Escrow
Shares.

    

    3.1           The
Escrow Agent shall hold the Escrow Shares until the date that is one year after
the consummation of a Business Combination (as defined in the Company’s Amended
and Restated Memorandum and Articles of Association) (“Escrow Period”), on which
date it shall, upon written instructions from each Initial Shareholder, disburse
such amount of each Initial Shareholder’s Escrow Shares (and any applicable
share power) to such Initial Shareholder; provided, however, that:

    

    
      	
              
              

            	
              ·  

            	
              if
      the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof
      that the Company is being dissolved at any time during the Escrow Period,
      then the Escrow Agent shall promptly destroy the certificates representing
      the Escrow Shares;

            

    

    

    
      	
            	
              ·  

            	
              if
      the Underwriters do not exercise their over-allotment option to purchase
      an additional 375,000 Units of the Company within 45 days of the date of
      the Prospectus (as described in the Underwriting Agreement), the Initial
      Shareholders agree that the Escrow Agent shall return to the Company for
      cancellation, at no cost, the number of Escrow Shares held by each Initial
      Shareholder determined by multiplying (a) the product of (i) 93,750,
      multiplied by (ii) a fraction, (x) the numerator of which is the number of
      Escrow Shares held by each Initial Shareholder, and (y) the denominator of
      which is the total number of Escrow Shares, by (b) a fraction, (i) the
      numerator of which is 375,000 minus the number of Ordinary Shares
      purchased by the Underwriters upon the exercise of their over-allotment
      option, and (ii) the denominator of which is 375,000;
  and

            

    

    

    
      	
            	
              ·  

            	
              if,
      after the Company consummates a Business Combination, the Company (or the
      surviving entity) subsequently consummates a liquidation, merger, share
      exchange or other similar transaction which results in all of the
      shareholders of such entity having the right to exchange their Ordinary
      Shares for cash, securities or other property, then the Escrow Agent will,
      upon receipt of a notice executed by the Chairman of the Board, President
      or other authorized officer of the Company, in form reasonably acceptable
      to the Escrow Agent, certifying that such transaction is then being
      consummated, release the Escrow Shares to the Initial
      Shareholders.

            

    

    

    The
Escrow Agent shall have no further duties hereunder after the disbursement or
destruction of the Escrow Shares in full in accordance with this Section
3.

    

    4.           Rights of Initial
Shareholders in Escrow Shares.

    

    4.1           Voting Rights as a
Shareholder.  Subject to the terms of the Insider Letters
described in Section 4.4 hereof and except as herein provided, the Initial
Shareholders shall retain all of their rights as shareholders of the Company
during the Escrow Period, including, without limitation, the right to vote such
shares.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    4.2           Dividends and Other
Distributions in Respect of the Escrow Shares.  During the
Escrow Period, all dividends payable in cash with respect to the Escrow Shares
shall be paid to the Initial Shareholders, but all dividends payable in shares
or other non-cash property (“Non-Cash Dividends”) shall be delivered to the
Escrow Agent to hold in accordance with the terms hereof.  As used
herein, the term “Escrow Shares” shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

    

    4.3           Restrictions on
Transfer.  During the Escrow Period, the only permitted
transfers of the Escrow Shares will be (A) pledges to secure the obligations
incurred in connection with purchases of the Company’s securities, (B) private
sales of the Escrow Shares made at or prior to the consummation of a business
combination at prices no greater than the price at which the Escrow Shares were
originally purchased or (C) for transfers to (i) the Company’s officer’s and
directors, (ii) an entity’s members upon its liquidation, (iii) by bona fide
gift to a member of an Initial Shareholder’s immediate family or to a trust, the
beneficiary of which is an Initial Shareholder or a member of an Initial
Shareholder’s immediate family for estate planning purposes, (iv) by virtue of
the laws of descent and distribution upon death, (v) pursuant to a qualified
domestic relations order, or (vi) to the Company for cancellation in connection
with the consummation of a Business Combination, in each case, other than clause
(C)(vi), where the transferee agrees to the terms of this
Agreement.

    

    5.           Concerning the Escrow
Agent.

    

    5.1           Good Faith
Reliance.  The Escrow Agent shall not be liable for any action
taken or omitted by it in good faith and in the exercise of its own best
judgment, and 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 Escrow Agent), 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 Escrow Agent to be
genuine and to be signed or presented by the proper person or
persons.  The Escrow Agent shall not be bound by any notice or demand,
or any waiver, modification, termination or rescission of this Agreement unless
evidenced by a writing delivered to the Escrow Agent signed by the proper party
or parties and, if the duties or rights of the Escrow Agent are affected, unless
it shall have given its prior written consent thereto.

    

    5.2           Indemnification.  The
Escrow Agent shall be indemnified and held harmless by the Company from and
against any expenses, including counsel fees and disbursements, or loss suffered
by the Escrow Agent in connection with any action, suit or other proceeding
involving any claim which in any way, directly or indirectly, arises out of or
relates to this Agreement, the services of the Escrow Agent hereunder, or the
Escrow Shares held by it hereunder, other than expenses or losses arising from
the gross negligence or willful misconduct of the Escrow
Agent.  Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing.  In the
event of the receipt of such notice, the Escrow Agent, in its sole discretion,
may commence an action in the nature of interpleader in an appropriate court to
determine ownership or disposition of the Escrow Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the
Escrow Shares pending receipt of a final, non appealable order of a court having
jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and
delivered.  The provisions of this Section 5.2 shall survive in the
event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6
below.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    5.3           Compensation.  The
Escrow Agent shall be entitled to reasonable compensation from the Company for
all services rendered by it hereunder.  The Escrow Agent shall also be
entitled to reimbursement from the Company for all reasonable expenses paid or
incurred by it in the administration of its duties hereunder including, but not
limited to, all counsel, advisors’ and agents’ fees and disbursements and all
taxes or other governmental charges.

    

    5.4           Further
Assurances.  From time to time on and after the date hereof,
the Company and the Initial Shareholders shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do or cause
to be done such further acts as the Escrow Agent shall reasonably request to
carry out more effectively the provisions and purposes of this Agreement, to
evidence compliance herewith or to assure itself that it is protected in acting
hereunder.

    

    5.5           Resignation.  The
Escrow Agent may resign at any time and be discharged from its duties as escrow
agent hereunder by its giving the other parties hereto written notice and such
resignation shall become effective as hereinafter provided.  Such
resignation shall become effective at such time that the Escrow Agent shall turn
over to a successor escrow agent appointed by the Company, the Escrow Shares
held hereunder.  If no new escrow agent is so appointed within the 60
day period following the giving of such notice of resignation, the Escrow Agent
may deposit the Escrow Shares with any court it reasonably deems
appropriate.

    

    5.6           Discharge of Escrow
Agent.  The Escrow Agent shall resign and be discharged from
its duties as escrow agent hereunder if so requested in writing at any time by
the other parties hereto, jointly, provided, however, that such resignation
shall become effective only upon acceptance of appointment by a successor escrow
agent as provided in Section 5.5.

    

    5.7   Liability.  Notwithstanding
anything herein to the contrary, the Escrow Agent shall not be relieved from
liability hereunder for its own gross negligence or its own willful
misconduct.

    

    5.8   Waiver.  The
Escrow Agent hereby waives any and all right, title, interest or claim of any
kind (each, a “Claim”) in or to any distribution from the Trust Account (as
defined in the Investment Management Trust Agreement dated as of the date hereof
by and between the Company and the Escrow Agent, as trustee thereunder) and
hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    6.           Miscellaneous.

    

    6.1           Governing
Law.  This Agreement shall for all purposes be deemed to be
made under and shall be construed in accordance with the laws of the State of
New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction.

    

    6.2           Third Party
Beneficiaries.  Each of the Initial Shareholders hereby
acknowledges that EBC is a third party beneficiary of this Agreement and this
Agreement may not be modified or changed without the prior written consent of
EBC.

    

    6.3           Entire
Agreement.  This Agreement contains the entire agreement of the
parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to the charged.

    

    6.4           Headings.  The
headings contained in this Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation thereof.

    

    6.5           Binding
Effect.  This Agreement shall be binding upon and inure to the
benefit of the respective parties hereto and their legal representatives,
successors and assigns.

    

    6.6           Notices.  Any
notice or other communication required or which may be given hereunder shall be
in writing and either be delivered personally or be mailed, certified or
registered mail, or by private national courier service, return receipt
requested, postage prepaid, and shall be deemed given when so delivered
personally or, if mailed, two days after the date of mailing, as
follows:

    

    If to the Company, to:

    

    China
VantagePoint Acquisition Company

    485
Brickell Avenue, # 617

    Miami, FL
33131

    Attn:  Chief Executive
Officer

    

    If to an Initial Shareholder, to his
address set forth in Exhibit A.

    

    and if to the Escrow Agent,
to:

    

    Continental Stock Transfer & Trust
Company

    17 Battery Place

    New York, New York 10004

    Attn:  Chairman

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

       

    

    A copy of any notice sent hereunder
shall be sent to:

    

    EarlyBirdCapital, Inc.

    275 Madison Avenue, 27th
Floor

    New York, New York 10016

    Attn:  Steven
Levine

     

    and:

     

    Loeb
& Loeb LLP

    345 Park
Avenue

    New York,
New York 10154

    Attn:  Mitchell
Nussbaum, Esq.

    

    and:

    

    Graubard
Miller

    The
Chrysler Building

    405
Lexington Avenue

    New York,
New York 10174

    Attn:  David
Alan Miller, Esq.

    

    The parties may change the persons and
addresses to which the notices or other communications are to be sent by giving
written notice to any such change in the manner provided herein for giving
notice.

    

    6.7   Liquidation of the
Company.  The Company shall give the Escrow Agent written
notification of the dissolution of the Company in the event that the Company
fails to consummate a Business Combination within the time period(s) specified
in the Prospectus.

    

    6.8   Counterparts.  This
Agreement may be executed in several counterparts, each one of which may be
delivered by facsimile or electronic transmission via PDF and each of which
shall constitute an original, and together shall constitute but one
instrument.
 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    WITNESS the execution of this Agreement
as of the date first above written.

    

    
      
        
          
            
              
                	 
      	 
      	
                        China
      VantagePoint Acquisition Company

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                        By:

                      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                        INITIAL
      SHAREHOLDERS:

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                         

                      	 
      
	 
      	 
      	
                        Wei
      Li

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                         

                      	 
      
	 
      	 
      	
                        Ye
      (Sophie) Tao

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                         

                      	 
      
	 
      	 
      	
                        Yiting
      Liu

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                        CONTINENTAL
      STOCK TRANSFER

                      	 
      
	 
      	 
      	
                          &
      TRUST COMPANY

                      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                        By:

                      	
                         

                      	 
      
	 
      	 
      	 
      	
                        Name:

                      	 
      
	 
      	 
      	 
      	
                        Title:

                      	 
      

              

            

          

        

      

    
 

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    
      
        
          
            
              
                
                  	
                          Name and Address of 

                          Initial Shareholder     

                        	 	
                          Number

                          of Shares

                        	 	 	
                          Share 

                          Certificate Number

                        	 	
                          Date of 

                          Insider Letter

                        	 
	
                          Wei
      Li

                        	 	 	239,583	 	 	 	
                          3

                        	 	 
      	 
	
                          Ye
      (Sophie) Tao

                        	 	 	239,583	 	 	 	
                          2

                        	 	 
      	 
	
                          Yiting
      Liu

                        	 	 	239,584	 	 	 	
                          4

                        	 	 
      	 

                

              

            

          

        

      

    
 

    
      
         

      

      
        8

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