Document:

WARRANT
      ESCROW AGREEMENT

    

    WARRANT
      ESCROW AGREEMENT, dated as of _______, 2008 (“Agreement”), by and among REDSTAR
      PARTNERS, INC., a Cayman Islands company (“Company”), PARALLAX POWER COMPONENTS
      LLC,  MCWONG INVESTMENTS LLC and JONATHAN TULKOFF (collectively, the
“Insider Purchasers”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New
      York corporation (“Escrow Agent”).

    

    WHEREAS,
      the Company has received binding commitments (“Subscription Agreements”) from
      the Insider Purchasers to purchase an aggregate of 1,850,000 warrants
      (“Insider Warrants”). 

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated ___________,
      2008
      (“Underwriting Agreement”), with Morgan Joseph & Co. Inc. (“MJC”) acting as
      representative of the several underwriters (collectively, the “Underwriters”),
      pursuant to which, among other matters, the Underwriters have agreed to purchase
      3,000,000 units (“Units”) of the Company. Each Unit consists of one ordinary
      share of the Company, par value $.0001 per share (“Ordinary Shares”), and one
      Warrant, each Warrant to purchase one Ordinary Share, all as more fully
      described in the Company’s final Prospectus, dated _________, 2008
      (“Prospectus”) comprising part of the Company’s Registration Statement on Form
      S-1 (File No. 333-149327) under the Securities Act of 1933, as amended
      (“Registration Statement”), declared effective on _______, 2008 (“Effective
      Date”).

    

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

    

    WHEREAS,
      the Company and the Insider Purchasers desire that the Escrow Agent accept
      the
      Escrow Warrants, in escrow, to be held and disbursed as hereinafter
      provided.

    

    IT
      IS
      AGREED:

    

    1. Appointment
      of Escrow Agent.
      The
      Company and the Insider Purchasers 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 Warrants.
      On or
      before the Effective Date, the Insider Purchasers shall deliver to the Escrow
      Agent certificates representing the Escrow Warrants, to be held and disbursed
      subject to the terms and conditions of this Agreement. The Insider Purchasers
      acknowledge that the certificates representing the Escrow Warrants are legended
      to reflect the deposit of such Escrow Warrants under this
      Agreement.

    

    3. Disbursement
      of the Escrow Warrants.
      The
      Escrow Agent shall hold the Escrow Warrants until the consummation of a Business
      Combination (as such term is defined in the Registration Statement) (“Escrow
      Period”), on which date it shall, upon written instructions from the Insider
      Purchasers, disburse the Insider Purchasers’ Escrow Warrants to the Insider
      Purchasers; provided, however, that if the Escrow Agent is notified by the
      Company pursuant to Section 6.7 hereof that the Company is being liquidated
      at
      any time during the Escrow Period, then the Escrow Agent shall promptly destroy
      the certificates representing the Escrow Warrants. The Escrow Agent shall have
      no further duties hereunder after the disbursement or destruction of the Escrow
      Warrants in accordance with this Section 3.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Restrictions
      on Transfer of Escrow Warrants.
      During
      the Escrow Period, no sale, transfer or other disposition may be made of any
      or
      all of the Escrow Warrants except upon the dissolution and liquidation of an
      Insider Purchaser and the distribution of assets to its members; provided,
      however,
      that
      such permissive transfers may be implemented only upon the respective
      transferee’s written agreement to be bound by the terms and conditions of this
      Agreement and of the Subscription Agreement signed by the Insider Purchaser
      making the transfer. 

    

    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 Warrants 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 Warrants or it may deposit the Escrow Warrants with the clerk of
      any
      appropriate court or it may retain the Escrow Warrants 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
      Warrants 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.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    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 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 Insider
      Purchasers 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 Warrants 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 Warrants 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.

    

    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 Insider Purchasers hereby acknowledges that the Underwriters are third
      party
      beneficiaries of this Agreement and this Agreement may not be modified or
      changed without the prior written consent of MJC. 

    

    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. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    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:

    

    Redstar
      Partners, Inc. 

    122
      East
      42nd
      Street,
      17th
      Floor

    New
      York,
      New York 10168

    Attn:
      Nathan J. Mazurek, Chairman

     

    If
      to the
      Insider Purchasers, to their respective addresses 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

    

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

    

    Morgan
      Joseph & Co. Inc.

    600
      Fifth
      Avenue, 19th Floor

    New
      York,
      New York 10020

    Attn:
      Tina Pappas

    

    and:

    

    Graubard
      Miller

    The
      Chrysler Building

    405
      Lexington Avenue, 19th
      Floor

    New
      York,
      New York 10174

    Attn:
      David Alan Miller, Esq.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    and:

    

    Ellenoff
      Grossman & Schole LLP

    150
      East
      42nd Street, 11th Floor

    New
      York,
      New York 10017-5612

    Attn:
      Douglas S. Ellenoff, 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 liquidation
      and
      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.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

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

     

    
      	 	 	 
	 	REDSTAR
              PARTNERS, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              

            

      	 	 	 
	 	
              INSIDER
                PURCHASERS:

              

              PARALLAX
                POWER COMPONENTS LLC

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            

    

     

    
      	 	 	 
	 	MCWONG INVESTMENTS
              LLC 
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            

    

     

    
      	 	 	 
	 	  	 
	 	
              

              Jonathan
                Tulkoff

            

    

     

    
      	 	 	 
	 	
              CONTINENTAL
                STOCK TRANSFER

              &
                TRUST COMPANY

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            

    

    

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    

    
      	
              Name
                and Address of 

              Insider
                Purchaser 

            	 	
              Number
                

              of
                Warrants

            	 	
               

              Warrant
                Number

            	 	
              Date
                of 

              Subscription
                Agreement

            	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
              Parallax
                Power Components LLC

              c/o
                Redstar Partners, Inc. 

              122
                East 42nd
                Street, 17th
                Floor

              New
                York, New York 10168

            	 	 	
               

            	 	 	
              1

            	 	 	
              ____________,
                2008

            	 
	 	 	 	 	 	 	 	 	 	 	 
	
              McWong
                Investments LLC 

              c/o
                Redstar Partners, Inc. 

              122
                East 42nd
                Street, 17th
                Floor

              New
                York, New York 10168

            	 	 	
               

            	 	 	
              2

            	 	 	
              ____________,
                2008

            	 
	 	 	 	 	 	 	 	 	 	 	 
	   Jonathan
              Tulkoff 
              
              c/o
                Redstar Partners, Inc. 

              122
                East 42nd Street, 17th Floor

              New
                York, New York 10168 

            	 	 	 	 	 	3	 	 	
              ____________,
                2008

            	 
	 	 	 	 	 	 	 	 	 	 	 

    

    

    
      
        
        

      

      
        7REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”)
      is
      entered into as of the ____ day of _______, 2008, by and among Redstar Partners,
      Inc., a Cayman Islands limited life exempted company (the “Company”)
      and
      the undersigned parties listed under Investor on the signature page hereto
      (each, an “Investor” and collectively, the “Investors”).

     

    WHEREAS,
      the Investors currently hold all of the outstanding Ordinary Shares and
      Warrants of the Company issued prior to the consummation of the Company’s
      initial public offering (the “Initial
      Securities”);

     

    WHEREAS,
      the Investors are privately purchasing 1,850,000 warrants simultaneously
      with the consummation of the Company’s initial public offering (the
“Insider
      Warrants”);

     

    WHEREAS,
      the Investors and the Company desire to enter into this Agreement to provide
      the
      Investors with certain rights relating to the registration of the Initial Shares
      and the Insider Warrants;

     

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    1. DEFINITIONS.
      The
      following capitalized terms used herein have the following
      meanings:

     

    “Agreement”
means
      this Agreement, as amended, restated, supplemented, or otherwise modified from
      time to time.

     

    “Business
      Combination”
means
      the acquisition of direct or indirect ownership through a merger, capital stock
      exchange or asset acquisition or other similar type of transaction, of an
      operating business having significant operations in the People’s Republic of
      China with a fair market value of at least 80% of the Company’s net assets at
      the time of execution of a definitive agreement.

     

    “Commission”
means
      the Securities and Exchange Commission, or any other Federal agency then
      administering the Securities Act or the Exchange Act.

     

    “Company”
is
      defined in the preamble to this Agreement.

     

    “Demand
      Registration”
is
      defined in Section 2.1.1.

     

    “Demanding
      Holder”
is
      defined in Section 2.1.1.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder, all as the same shall be in effect
      at
      the time.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Form
      S-3”
is
      defined in Section 2.3.

     

    “Indemnified
      Party”
is
      defined in Section 4.3.

     

    “Indemnifying
      Party”
is
      defined in Section 4.3.

     

    “Initial
      Securities”
is
      defined in the preamble to this Agreement.

     

    “Insider
      Warrants”
is
      defined in the preamble to this Agreement.

     

    “Investor”
is
      defined in the preamble to this Agreement.

     

    “Investor
      Indemnified Party”
is
      defined in Section 4.1.

     

    “Maximum
      Number of Shares”
is
      defined in Section 2.1.4.

     

    “Notices”
is
      defined in Section 6.3.

     

    “Option
      Securities”
is
      defined in Section 2.1.4.

     

    
      “Ordinary
        Shares”
means
        the Ordinary Shares, par value $0.0001 per share, of the
        Company.

    

     

    “Piggy-Back
      Registration”
is
      defined in Section 2.2.1.

     

    “Register,”
      “Registered”
and
      “Registration”
mean
      a
      registration effected by preparing and filing a registration statement or
      similar document in compliance with the requirements of the Securities Act,
      and
      the applicable rules and regulations promulgated thereunder, and such
      registration statement becoming effective.

     

    “Registrable
      Securities”
means
      (i) all of the Initial Securities (and underlying Ordinary Shares and Warrants)
      or (ii) all of the Insider Warrants (and underlying Ordinary Shares) owned
      or
      held by Investors upon consummation of the Company’s initial public offering.
      Registrable Securities include any warrants, shares of capital stock or other
      securities of the Company issued as a dividend or other distribution with
      respect to or in exchange for or in replacement of such Initial Securities
      and
      Insider Warrants (and underlying Ordinary Shares). As to any particular
      Registrable Securities, such securities shall cease to be Registrable Securities
      when: (a) a Registration Statement with respect to the sale of such securities
      shall have become effective under the Securities Act and such securities shall
      have been sold, transferred, disposed of or exchanged in accordance with such
      Registration Statement; (b) such securities shall have been otherwise
      transferred, new certificates for them not bearing a legend restricting further
      transfer shall have been delivered by the Company and subsequent public
      distribution of them shall not require registration under the Securities Act;
      (c) such securities shall have ceased to be outstanding, or (d) the Securities
      and Exchange Commission makes a definitive determination to the Company that
      the
      Registrable Securities are saleable under Rule 144(k).

     

    “Registration
      Statement”
means
      a
      registration statement filed by the Company with the Commission in compliance
      with the Securities Act and the rules and regulations promulgated thereunder
      for
      a public offering and sale of equity securities, or securities or other
      obligations exercisable or exchangeable for, or convertible into, equity
      securities (other than a registration statement on Form S-4 or Form S-8, or
      their successors, or any registration statement covering only securities
      proposed to be issued in exchange for securities or assets of another entity).
      

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    “Release
      Date”
means
      the date on which Ordinary Shares and Insider Warrants are disbursed from escrow
      pursuant to Section 3 of that certain Stock Escrow Agreement dated as of
      ___________, 2008 by and among the parties hereto and Continental Stock Transfer
      & Trust Company.

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations of the
      Commission promulgated thereunder, all as the same shall be in effect at the
      time.

     

    “Underwriter”
means
      a
      securities dealer who purchases any Registrable Securities as principal in
      an
      underwritten offering and not as part of such dealer’s market-making
      activities.

     

    “Unit
      Purchase Option”
is
      defined in Section 2.1.4.

     

    2. REGISTRATION
      RIGHTS.

     

    2.1 Demand
      Registration.

     

    2.1.1
      Request
      for Registration.
      At any
      time and from time to time on or after the date that is (i) in the case of
      the
      Insider Warrants (or underlying Ordinary Shares), after the Company consummates
      a Business Combination or (ii) in the case of the Initial Securities (or
      underlying Shares and Warrants), three months prior to the Release Date, the
      holders of a majority-in-interest of such Insider Warrants (or underlying
      Ordinary Shares), Initial Securities (or underlying Shares and
      Warrants) or other Registrable Securities, as the case may be, may make a
      written demand for registration under the Securities Act of all or part of
      their
      Insider Warrants (or underlying Ordinary Shares),
      Initial Securities or other Registrable Securities, as the case may be
      (a “Demand
      Registration”).
      Any
      demand for a Demand Registration shall specify the type and number of
      Registrable Securities proposed to be sold and the intended method(s) of
      distribution thereof. The Company will notify all holders of Registrable
      Securities of the demand, and each holder of Registrable Securities who wishes
      to include all or a portion of such holder’s Registrable Securities in the
      Demand Registration (each such holder including shares of Registrable Securities
      in such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to Section 2.1.4 and the provisos set forth in Section
      3.1.1. The Company shall not be obligated to effect more than an aggregate
      of
      two (2) Demand Registrations under this Section 2.1.1 in respect of all
      Registrable Securities. 

     

    2.1.2 Effective
      Registration.
      A
      registration will not count as a Demand Registration until the Registration
      Statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto; provided, however, that if, after
      such Registration Statement has been declared effective, the offering of
      Registrable Securities pursuant to a Demand Registration is interfered with
      by
      any stop order or injunction of the Commission or any other governmental agency
      or court, the Registration Statement with respect to such Demand Registration
      will be deemed not to have been declared effective, unless and until, (i) such
      stop order or injunction is removed, rescinded or otherwise terminated, and
      (ii)
      a majority-in-interest of the Demanding Holders thereafter elect to continue
      the
      offering; provided, further, that the Company shall not be obligated to file
      a
      second Registration Statement until a Registration Statement that has been
      filed
      is counted as a Demand Registration or is terminated.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    2.1.3 Underwritten
      Offering.
      If a
      majority-in-interest of the Demanding Holders so elect and such holders so
      advise the Company as part of their written demand for a Demand Registration,
      the offering of such Registrable Securities pursuant to such Demand Registration
      shall be in the form of an underwritten offering. In such event, the right
      of
      any holder to include its Registrable Securities in such registration shall
      be
      conditioned upon such holder’s participation in such underwriting and the
      inclusion of such holder’s Registrable Securities in the underwriting to the
      extent provided herein. All Demanding Holders proposing to distribute their
      Registrable Securities through such underwriting shall enter into an
      underwriting agreement in customary form with the Underwriter or Underwriters
      selected for such underwriting by a majority-in-interest of the holders
      initiating the Demand Registration.

     

    2.1.4 Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Demand Registration that is to be
      an
      underwritten offering advises the Company and the Demanding Holders in writing
      that the dollar amount or number of shares of Registrable Securities which
      the
      Demanding Holders desire to sell, taken together with all other Ordinary Shares
      or other securities which the Company desires to sell and the Ordinary Shares,
      if any, as to which registration has been requested pursuant to written
      contractual piggy-back registration rights held by other shareholders of the
      Company who desire to sell, exceeds the maximum dollar amount or maximum number
      of shares that can be sold in such offering without adversely affecting the
      proposed offering price, the timing, the distribution method, or the probability
      of success of such offering (such maximum dollar amount or maximum number of
      shares, as applicable, the “Maximum
      Number of Shares”),
      then
      the Company shall include in such registration: (i) first, the Registrable
      Securities as to which Demand Registration has been requested by the Demanding
      Holders (pro rata in accordance with the number of shares that each such Person
      has requested be included in such registration, regardless of the number of
      shares held by each such Person (such proportion is referred to herein as
“Pro
      Rata”))
      that
      can be sold without exceeding the Maximum Number of Shares; (ii) second, to
      the
      extent that the Maximum Number of Shares has not been reached under the
      foregoing clause (i), the Ordinary Shares or other securities that the Company
      desires to sell that can be sold without exceeding the Maximum Number of Shares;
      (iii) third, to the extent that the Maximum Number of Shares has not been
      reached under the foregoing clauses (i) and (ii), the Ordinary Shares or other
      securities registrable pursuant to the terms of the Unit Purchase Option to
      be
      issued to Morgan Joseph & Co. Inc. or its designees in connection with the
      Company’s initial public offering on ______, 2008 (the “Unit
      Purchase Option”
and
      such registrable securities, the “Option
      Securities”)
      as to
      which "piggy-back" registration has been requested by the holders thereof,
      Pro
      Rata, that can be sold without exceeding the Maximum Number of Shares; and
      (iv)
      fourth, to the extent that the Maximum Number of Shares have not been reached
      under the foregoing clauses (i), (ii), and (iii), the Ordinary Shares or other
      securities for the account of other persons that the Company is obligated to
      register pursuant to written contractual arrangements with such persons and
      that
      can be sold without exceeding the Maximum Number of Shares.

     

    
      
        
        

      

      
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    2.1.5 Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      Underwriter or Underwriters of their request to withdraw prior to the
      effectiveness of the Registration Statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then such registration shall not count as a Demand Registration
      provided for in Section 2.1.

     

    2.2 Piggy-Back
      Registration.

     

    2.2.1 Piggy-Back
      Rights.
      If at
      any time on or after the date the Company consummates a Business Combination
      the
      Company proposes to file a Registration Statement under the Securities Act
      with
      respect to an offering of equity securities, or securities or other obligations
      exercisable or exchangeable for, or convertible into, equity securities, by
      the
      Company for its own account or for shareholders of the Company for their account
      (or by the Company and by shareholders of the Company including, without
      limitation, pursuant to Section 2.1), other than a Registration Statement (i)
      filed in connection with any employee stock option or other benefit plan, (ii)
      for an exchange offer or offering of securities solely to the Company’s existing
      shareholders, (iii) for an offering of debt that is convertible into equity
      securities of the Company or (iv) for a dividend reinvestment plan, then the
      Company shall (x) give written notice of such proposed filing to the holders
      of
      Registrable Securities as soon as practicable but in no event less than ten
      (10)
      days before the anticipated filing date, which notice shall describe the amount
      and type of securities to be included in such offering, the intended method(s)
      of distribution, and the name of the proposed managing Underwriter or
      Underwriters, if any, of the offering, and (y) offer to the holders of
      Registrable Securities in such notice the opportunity to register the sale
      of
      such number of shares of Registrable Securities as such holders may request
      in
      writing within five (5) days following receipt of such notice (a “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and shall use its best efforts to cause the managing Underwriter
      or
      Underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration on the same
      terms and conditions as any similar securities of the Company and to permit
      the
      sale or other disposition of such Registrable Securities in accordance with
      the
      intended method(s) of distribution thereof. All holders of Registrable
      Securities proposing to distribute their securities through a Piggy-Back
      Registration that involves an Underwriter or Underwriters shall enter into
      an
      underwriting agreement in customary form with the Underwriter or Underwriters
      selected for such Piggy-Back Registration.

     

    2.2.2 Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Piggy-Back Registration that is
      to be
      an underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of Ordinary Shares which
      the Company desires to sell, taken together with Ordinary Shares, if any, as
      to
      which registration has been demanded pursuant to written contractual
      arrangements with persons other than the holders of Registrable Securities
      hereunder, the Registrable Securities as to which registration has been
      requested under this Section 2.2, and the Ordinary Shares, if any, as to which
      registration has been requested pursuant to the written contractual piggy-back
      registration rights of other shareholders of the Company, exceeds the Maximum
      Number of Shares, then the Company shall include in any such
      registration:

     

    
      
        
        

      

      
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    a) If
      the
      registration is undertaken for the Company’s account: (A) first, the Ordinary
      Shares or other securities that the Company desires to sell that can be sold
      without exceeding the Maximum Number of Shares; (B) second, to the extent that
      the Maximum Number of Shares has not been reached under the foregoing clause
      (A), the Ordinary Shares or other securities, if any, comprised of Registrable
      Securities and Option Securities, as to which registration has been requested
      pursuant to the applicable written contractual piggy-back registration rights
      of
      such security holders, Pro Rata, that can be sold without exceeding the Maximum
      Number of Shares; and (C) third, to the extent that the Maximum Number of shares
      has not been reached under the foregoing clauses (A) and (B), the Ordinary
      Shares or other securities for the account of other persons that the Company
      is
      obligated to register pursuant to written contractual piggy-back registration
      rights with such persons and that can be sold without exceeding the Maximum
      Number of Shares; 

     

    b) If
      the
      registration is a “demand” registration undertaken at the demand of holders of
      Option Securities, (A) first, the Ordinary Shares or other securities for the
      account of the demanding persons, Pro Rata, that can be sold without exceeding
      the Maximum Number of Shares; (B) second, to the extent that the Maximum Number
      of Shares has not been reached under the foregoing clause (A), the Ordinary
      Shares or other securities that the Company desires to sell that can be sold
      without exceeding the Maximum Number of Shares; (C) third, to the extent that
      the Maximum Number of Shares has not been reached under the foregoing clauses
      (A) and (B), the shares of Registrable Securities, Pro Rata, as to which
      registration has been requested pursuant to the terms hereof, that can be sold
      without exceeding the Maximum Number of Shares; and (D) fourth, to the extent
      that the Maximum Number of Shares has not been reached under the foregoing
      clauses (A), (B) and (C), the Ordinary Shares or other securities for the
      account of other persons that the Company is obligated to register pursuant
      to
      written contractual arrangements with such persons, that can be sold without
      exceeding the Maximum Number of Shares; and

     

    c) 
      If the
      registration is a “demand” registration undertaken at the demand of persons
      other than either the holders of Registrable Securities or of Option Securities,
      (A) first, the Ordinary Shares or other securities for the account of the
      demanding persons that can be sold without exceeding the Maximum Number of
      Shares; (B) second, to the extent that the Maximum Number of Shares has not
      been
      reached under the foregoing clause (A), the Ordinary Shares or other securities
      that the Company desires to sell that can be sold without exceeding the Maximum
      Number of Shares; (C) third, to the extent that the Maximum Number of Shares
      has
      not been reached under the foregoing clauses (A) and (B), collectively the
      Ordinary Shares or other securities comprised of Registrable Securities and
      Option Securities, Pro Rata, as to which registration has been requested
      pursuant to the terms hereof and of the Unit Purchase Option, as applicable,
      that can be sold without exceeding the Maximum Number of Shares; and (D) fourth,
      to the extent that the Maximum Number of Shares has not been reached under
      the
      foregoing clauses (A), (B) and (C), the Ordinary Shares or other securities
      for
      the account of other persons that the Company is obligated to register pursuant
      to written contractual arrangements with such persons, that can be sold without
      exceeding the Maximum Number of Shares.

     

    
      
        
        

      

      
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    2.2.3 Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the Registration Statement. The Company (whether on its own
      determination or as the result of a withdrawal by persons making a demand
      pursuant to written contractual obligations) may withdraw a Registration
      Statement at any time prior to the effectiveness of such Registration Statement.
      Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
      by the holders of Registrable Securities in connection with such Piggy-Back
      Registration as provided in Section 3.3.

     

    2.2.4 Registrations
      on Form S-3.
      The
      holders of Registrable Securities may at any time and from time to time, request
      in writing that the Company register the resale of any or all of such
      Registrable Securities on Form S-3 or any similar short-form registration which
      may be available at such time (“Form
      S-3”);
      provided, however, that the Company shall not be obligated to effect such
      request through an underwritten offering. Upon receipt of such written request,
      the Company will promptly give written notice of the proposed registration
      to
      all other holders of Registrable Securities, and, as soon as practicable
      thereafter, effect the registration of all or such portion of such holder’s or
      holders’ Registrable Securities as are specified in such request, together with
      all or such portion of the Registrable Securities or other securities of the
      Company, if any, of any other holder or holders joining in such request as
      are
      specified in a written request given within fifteen (15) days after receipt
      of
      such written notice from the Company; provided, however, that the Company shall
      not be obligated to effect any such registration pursuant to this Section 2.2:
      (i) if Form S-3 is not available for such offering; or (ii) if the holders
      of
      the Registrable Securities, together with the holders of any other securities
      of
      the Company entitled to inclusion in such registration, propose to sell
      Registrable Securities and such other securities (if any) at any aggregate
      price
      to the public of less than $500,000. Registrations effected pursuant to this
      Section 2.2 shall not be counted as Demand Registrations effected pursuant
      to
      Section 2.1.

     

    3. REGISTRATION
      PROCEDURES.

     

    3.1 Filings;
      Information.
      Whenever the Company is required to effect the registration of any Registrable
      Securities pursuant to Section 2, the Company shall use its best efforts to
      effect the registration and sale of such Registrable Securities in accordance
      with the intended method(s) of distribution thereof as expeditiously as
      practicable, and in connection with any such request:

     

    
      
        
        

      

      
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    3.1.1 Filing
      Registration Statement.
      The
      Company shall use its best efforts to, as expeditiously as possible after
      receipt of a request for a Demand Registration pursuant to Section 2.1, prepare
      and file with the Commission a Registration Statement on any form for which
      the
      Company then qualifies or which counsel for the Company shall deem appropriate
      and which form shall be available for the sale of all Registrable Securities
      to
      be registered thereunder in accordance with the intended method(s) of
      distribution thereof, and shall use its best efforts to cause such Registration
      Statement to become effective and use its best efforts to keep it effective
      for
      the period required by Section 3.1.3; provided, however, that the Company shall
      have the right to defer any Demand Registration for up to thirty (30) days,
      and
      any Piggy-Back Registration for such period as may be applicable to deferment
      of
      any demand registration to which such Piggy-Back Registration relates, in each
      case if the Company shall furnish to the holders a certificate signed by the
      Chief Executive Officer or Vice Chairman of the Company stating that, in the
      good faith judgment of the Board of Directors of the Company, it would be
      materially detrimental to the Company and its shareholders for such Registration
      Statement to be effected at such time; provided further, however, that the
      Company shall not have the right to exercise the right set forth in the
      immediately preceding proviso more than once in any 365-day period in respect
      of
      a Demand Registration hereunder.

     

    3.1.2 Copies.
      The
      Company shall, prior to filing a Registration Statement or prospectus, or any
      amendment or supplement thereto, furnish without charge to the holders of
      Registrable Securities included in such registration, and such holders’ legal
      counsel, copies of such Registration Statement as proposed to be filed, each
      amendment and supplement to such Registration Statement (in each case including
      all exhibits thereto and documents incorporated by reference therein), the
      prospectus included in such Registration Statement (including each preliminary
      prospectus), and such other documents as the holders of Registrable Securities
      included in such registration or legal counsel for any such holders may request
      in order to facilitate the disposition of the Registrable Securities owned
      by
      such holders.

     

    3.1.3 Amendments
      and Supplements.
      The
      Company shall prepare and file with the Commission such amendments, including
      post-effective amendments, and supplements to such Registration Statement and
      the prospectus used in connection therewith as may be necessary to keep such
      Registration Statement effective and in compliance with the provisions of the
      Securities Act until all Registrable Securities and other securities covered
      by
      such Registration Statement have been disposed of in accordance with the
      intended method(s) of distribution set forth in such Registration Statement
      or
      such securities have been withdrawn.

     

    3.1.4 Notification.
      After
      the filing of a Registration Statement, the Company shall promptly, and in
      no
      event more than two (2) business days after such filing, notify the holders
      of
      Registrable Securities included in such Registration Statement of such filing,
      and shall further notify such holders promptly and confirm such advice in
      writing in all events within two (2) business days of the occurrence of any
      of
      the following: (i) when such Registration Statement becomes effective; (ii)
      when
      any post-effective amendment to such Registration Statement becomes effective;
      (iii) the issuance or threatened issuance by the Commission of any stop order
      (and the Company shall take all actions required to prevent the entry of such
      stop order or to remove it if entered); and (iv) any request by the Commission
      for any amendment or supplement to such Registration Statement or any prospectus
      relating thereto or for additional information or of the occurrence of an event
      requiring the preparation of a supplement or amendment to such prospectus so
      that, as thereafter delivered to the purchasers of the securities covered by
      such Registration Statement, such prospectus will not contain an untrue
      statement of a material fact or omit to state any material fact required to
      be
      stated therein or necessary to make the statements therein not misleading,
      and
      promptly make available to the holders of Registrable Securities included in
      such Registration Statement any such supplement or amendment; except that before
      filing with the Commission a Registration Statement or prospectus or any
      amendment or supplement thereto, including documents incorporated by reference,
      the Company shall furnish to the holders of Registrable Securities included
      in
      such Registration Statement and to the legal counsel for any such holders,
      copies of all such documents proposed to be filed sufficiently in advance of
      filing to provide such holders and legal counsel with a reasonable opportunity
      to review such documents and comment thereon, and the Company shall not file
      any
      Registration Statement or prospectus or amendment or supplement thereto,
      including documents incorporated by reference, to which such holders or their
      legal counsel shall object.

     

    
      
        
        

      

      
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    3.1.5 State
      Securities Laws Compliance.
      The
      Company shall use its best efforts to (i) register or qualify the Registrable
      Securities covered by the Registration Statement under such securities or “blue
      sky” laws of such jurisdictions in the United States as the holders of
      Registrable Securities included in such Registration Statement (in light of
      their intended plan of distribution) may request and (ii) take such action
      necessary to cause such Registrable Securities covered by the Registration
      Statement to be registered with or approved by such other governmental
      authorities as may be necessary by virtue of the business and operations of
      the
      Company and do any and all other acts and things that may be necessary or
      advisable to enable the holders of Registrable Securities included in such
      Registration Statement to consummate the disposition of such Registrable
      Securities in such jurisdictions; provided, however, that the Company shall
      not
      be required to qualify generally to do business in any jurisdiction where it
      would not otherwise be required to qualify but for this paragraph or subject
      itself to taxation in any such jurisdiction.

     

    3.1.6 Agreements
      for Disposition.
      The
      Company shall enter into customary agreements (including, if applicable, an
      underwriting agreement in customary form) and take such other actions as are
      reasonably required in order to expedite or facilitate the disposition of such
      Registrable Securities. The representations, warranties and covenants of the
      Company in any underwriting agreement which are made to or for the benefit
      of
      any Underwriters, to the extent applicable, shall also be made to and for the
      benefit of the holders of Registrable Securities included in such registration
      statement. No holder of Registrable Securities included in such registration
      statement shall be required to make any representations or warranties in the
      underwriting agreement except, if applicable, with respect to such holder’s
      organization, good standing, authority, title to Registrable Securities, lack
      of
      conflict of such sale with such holder’s material agreements and organizational
      documents, and with respect to written information relating to such holder
      that
      such holder has furnished in writing expressly for inclusion in such
      Registration Statement.

     

    3.1.7 Cooperation.
      The
      principal executive officer of the Company, the principal financial officer
      of
      the Company, the principal accounting officer of the Company and all other
      officers and members of the management of the Company shall cooperate fully
      in
      any offering of Registrable Securities hereunder, which cooperation shall
      include, without limitation, the preparation of the Registration Statement
      with
      respect to such offering and all other offering materials and related documents,
      and participation in meetings with Underwriters, attorneys, accountants and
      potential investors.

     

    
      
        
        

      

      
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    3.1.8 Records.
      The
      Company shall make available for inspection by the holders of Registrable
      Securities included in such Registration Statement, any Underwriter
      participating in any disposition pursuant to such registration statement and
      any
      attorney, accountant or other professional retained by any holder of Registrable
      Securities included in such Registration Statement or any Underwriter, all
      financial and other records, pertinent corporate documents and properties of
      the
      Company, as shall be necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information requested by any of them in connection with such
      Registration Statement.

     

    3.1.9 Opinions
      and Comfort Letters.
      The
      Company shall furnish to each holder of Registrable Securities included in
      any
      Registration Statement a signed counterpart, addressed to such holder, of (i)
      any opinion of counsel to the Company delivered to any Underwriter and (ii)
      any
      comfort letter from the Company’s independent public accountants delivered to
      any Underwriter. In the event no legal opinion is delivered to any Underwriter,
      the Company shall furnish to each holder of Registrable Securities included
      in
      such Registration Statement, at any time that such holder elects to use a
      prospectus, an opinion of counsel to the Company to the effect that the
      Registration Statement containing such prospectus has been declared effective
      and that no stop order is in effect.

     

    3.1.10 Earnings
      Statement.
      The
      Company shall comply with all applicable rules and regulations of the Commission
      and the Securities Act, and make available to its shareholders, as soon as
      practicable, an earnings statement covering a period of twelve (12) months,
      which earnings statement shall satisfy the provisions of Section 11(a) of the
      Securities Act and Rule 158 thereunder.

     

    3.1.11 Listing.
      The
      Company shall use its best efforts to cause all Registrable Securities included
      in any registration to be listed on such exchanges or otherwise designated
      for
      trading in the same manner as similar securities issued by the Company are
      then
      listed or designated or, if no such similar securities are then listed or
      designated, in a manner satisfactory to the holders of a majority of the
      Registrable Securities included in such registration.

     

    3.2 Obligation
      to Suspend Distribution.
      Upon
      receipt of any notice from the Company of the happening of any event of the
      kind
      described in Section 3.1.4(iv), or, in the case of a resale registration on
      Form
      S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company, pursuant
      to a written insider trading compliance program adopted by the Company’s Board
      of Directors, of the ability of all “insiders” covered by such program to
      transact in the Company’s securities because of the existence of material
      non-public information, each holder of Registrable Securities included in any
      registration shall immediately discontinue disposition of such Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such holder receives the supplemented or amended prospectus
      contemplated by Section 3.1.4(iv) or the restriction on the ability of
“insiders” to transact in the Company’s securities is removed, as applicable,
      and, if so directed by the Company, each such holder will deliver to the Company
      all copies, other than permanent file copies then in such holder’s possession,
      of the most recent prospectus covering such Registrable Securities at the time
      of receipt of such notice.

     

    
      
        
        

      

      
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    3.3 Registration
      Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any Demand
      Registration pursuant to Section 2.1, any Piggy-Back Registration pursuant
      to
      Section 2.2, and any registration on Form S-3 effected pursuant to Section
      2.2.4, and all expenses incurred in performing or complying with its other
      obligations under this Agreement, whether or not the Registration Statement
      becomes effective, including, without limitation: (i) all registration and
      filing fees; (ii) fees and expenses of compliance with securities or “blue sky”
laws (including fees and disbursements of counsel in connection with blue sky
      qualifications of the Registrable Securities); (iii) printing expenses; (iv)
      the
      Company’s internal expenses (including, without limitation, all salaries and
      expenses of its officers and employees); (v) the fees and expenses incurred
      in
      connection with the listing of the Registrable Securities as required by Section
      3.1.11; (vi) Financial Industry Regulatory Authority fees; (vii) fees and
      disbursements of counsel for the Company and fees and expenses for independent
      certified public accountants retained by the Company (including the expenses
      or
      costs associated with the delivery of any opinions or comfort letters requested
      pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts
      retained by the Company in connection with such registration and (ix) the fees
      and expenses of one legal counsel selected by the holders of a
      majority-in-interest of the Registrable Securities included in such
      registration. The Company shall have no obligation to pay any underwriting
      discounts or selling commissions attributable to the Registrable Securities
      being sold by the holders thereof, which underwriting discounts or selling
      commissions shall be borne by such holders. Additionally, in an underwritten
      offering, all selling shareholders and the Company shall bear the expenses
      of
      the Underwriter pro rata in proportion to the respective amount of shares each
      is selling in such offering.

     

    3.4 Information.
      The
      holders of Registrable Securities shall provide such information as may
      reasonably be requested by the Company, or the managing Underwriter, if any,
      in
      connection with the preparation of any Registration Statement, including
      amendments and supplements thereto, in order to effect the registration of
      any
      Registrable Securities under the Securities Act pursuant to Section 2 and in
      connection with the Company’s obligation to comply with Federal and applicable
      state securities laws.

     

    4. INDEMNIFICATION
      AND CONTRIBUTION.

     

    4.1 Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless each Investor and each other
      holder of Registrable Securities, and each of their respective officers,
      employees, affiliates, directors, partners, members, attorneys and agents,
      and
      each person, if any, who controls an Investor and each other holder of
      Registrable Securities (within the meaning of Section 15 of the Securities
      Act
      or Section 20 of the Exchange Act) (each, an “Investor
      Indemnified Party”),
      from
      and against any expenses, losses, judgments, claims, damages or liabilities,
      whether joint or several, arising out of or based upon any untrue statement
      (or
      allegedly untrue statement) of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to such Registration Statement, or arising out of or based upon
      any
      omission (or alleged omission) to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading, or any
      violation by the Company of the Securities Act or any rule or regulation
      promulgated thereunder applicable to the Company and relating to action or
      inaction required of the Company in connection with any such registration;
      and
      the Company shall promptly reimburse the Investor Indemnified Party for any
      legal and any other expenses reasonably incurred by such Investor Indemnified
      Party in connection with investigating and defending any such expense, loss,
      judgment, claim, damage, liability or action; provided, however, that the
      Company will not be liable in any such case to the extent that any such expense,
      loss, claim, damage or liability arises out of or is based upon any untrue
      statement or allegedly untrue statement or omission or alleged omission made
      in
      such Registration Statement, preliminary prospectus, final prospectus, or
      summary prospectus, or any such amendment or supplement, in reliance upon and
      in
      conformity with information furnished to the Company, in writing, by such
      selling holder expressly for use therein. The Company also shall indemnify
      any
      Underwriter of the Registrable Securities, their officers, affiliates,
      directors, partners, members and agents and each person who controls such
      Underwriter on substantially the same basis as that of the indemnification
      provided above in this Section 4.1.

     

    
      
        
        

      

      
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    4.2 Indemnification
      by Holders of Registrable Securities.
      Each
      selling holder of Registrable Securities will, in the event that any
      registration is being effected under the Securities Act pursuant to this
      Agreement of any Registrable Securities held by such selling holder, indemnify
      and hold harmless the Company, each of its directors and officers and each
      Underwriter (if any), and each other selling holder and each other person,
      if
      any, who controls another selling holder or such Underwriter within the meaning
      of the Securities Act, against any losses, claims, judgments, damages or
      liabilities, whether joint or several, insofar as such losses, claims,
      judgments, damages or liabilities (or actions in respect thereof) arise out
      of
      or are based upon any untrue statement or allegedly untrue statement of a
      material fact contained in any Registration Statement under which the sale
      of
      such Registrable Securities was registered under the Securities Act, any
      preliminary prospectus, final prospectus or summary prospectus contained in
      the
      Registration Statement, or any amendment or supplement to the Registration
      Statement, or arise out of or are based upon any omission or the alleged
      omission to state a material fact required to be stated therein or necessary
      to
      make the statement therein not misleading, if the statement or omission was
      made
      in reliance upon and in conformity with information furnished in writing to
      the
      Company by such selling holder expressly for use therein, and shall reimburse
      the Company, its directors and officers, and each other selling holder or
      controlling person for any legal or other expenses reasonably incurred by any
      of
      them in connection with investigation or defending any such loss, claim, damage,
      liability or action. Each selling holder’s indemnification obligations hereunder
      shall be several and not joint and shall be limited to the amount of any net
      proceeds actually received by such selling holder.

     

    4.3 Conduct
      of Indemnification Proceedings.
      Promptly after receipt by any person of any notice of any loss, claim, damage
      or
      liability or any action in respect of which indemnity may be sought pursuant
      to
      Section 4.1 or 4.2, such person (the “Indemnified Party”) shall, if a claim in
      respect thereof is to be made against any other person for indemnification
      hereunder, notify such other person (the “Indemnifying
      Party”)
      in
      writing of the loss, claim, judgment, damage, liability or action; provided,
      however, that the failure by the Indemnified Party to notify the Indemnifying
      Party shall not relieve the Indemnifying Party from any liability which the
      Indemnifying Party may have to such Indemnified Party hereunder, except and
      solely to the extent the Indemnifying Party is actually prejudiced by such
      failure. If the Indemnified Party is seeking indemnification with respect to
      any
      claim or action brought against the Indemnified Party, then the Indemnifying
      Party shall be entitled to participate in such claim or action, and, to the
      extent that it wishes, jointly with all other Indemnifying Parties, to assume
      control of the defense thereof with counsel satisfactory to the Indemnified
      Party. After notice from the Indemnifying Party to the Indemnified Party of
      its
      election to assume control of the defense of such claim or action, the
      Indemnifying Party shall not be liable to the Indemnified Party for any legal
      or
      other expenses subsequently incurred by the Indemnified Party in connection
      with
      the defense thereof other than reasonable costs of investigation; provided,
      however, that in any action in which both the Indemnified Party and the
      Indemnifying Party are named as defendants, the Indemnified Party shall have
      the
      right to employ separate counsel (but no more than one such separate counsel)
      to
      represent the Indemnified Party and its controlling persons who may be subject
      to liability arising out of any claim in respect of which indemnity may be
      sought by the Indemnified Party against the Indemnifying Party, with the fees
      and expenses of such counsel to be paid by such Indemnifying Party if, based
      upon the written opinion of counsel of such Indemnified Party, representation
      of
      both parties by the same counsel would be inappropriate due to actual or
      potential differing interests between them. No Indemnifying Party shall, without
      the prior written consent of the Indemnified Party, consent to entry of judgment
      or effect any settlement of any claim or pending or threatened proceeding in
      respect of which the Indemnified Party is or could have been a party and
      indemnity could have been sought hereunder by such Indemnified Party, unless
      such judgment or settlement includes an unconditional release of such
      Indemnified Party from all liability arising out of such claim or
      proceeding.

     

    
      
        
        

      

      
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    4.4 Contribution.

     

    4.4.1 If
      the
      indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
      unavailable to any Indemnified Party in respect of any loss, claim, damage,
      liability or action referred to herein, then each such Indemnifying Party,
      in
      lieu of indemnifying such Indemnified Party, shall contribute to the amount
      paid
      or payable by such Indemnified Party as a result of such loss, claim, damage,
      liability or action in such proportion as is appropriate to reflect the relative
      fault of the Indemnified Parties and the Indemnifying Parties in connection
      with
      the actions or omissions which resulted in such loss, claim, damage, liability
      or action, as well as any other relevant equitable considerations. The relative
      fault of any Indemnified Party and any Indemnifying Party shall be determined
      by
      reference to, among other things, whether the untrue or alleged untrue statement
      of a material fact or the omission or alleged omission to state a material
      fact
      relates to information supplied by such Indemnified Party or such Indemnifying
      Party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission.

     

    4.4.2 The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 4.4 were determined by pro rata allocation or by any
      other method of allocation which does not take account of the equitable
      considerations referred to in the immediately preceding Section
      4.4.1.

     

    4.4.3 The
      amount paid or payable by an Indemnified Party as a result of any loss, claim,
      damage, liability or action referred to in the immediately preceding paragraph
      shall be deemed to include, subject to the limitations set forth above, any
      legal or other expenses incurred by such Indemnified Party in connection with
      investigating or defending any such action or claim. Notwithstanding the
      provisions of this Section 4.4, no holder of Registrable Securities shall be
      required to contribute any amount in excess of the dollar amount of the net
      proceeds (after payment of any underwriting fees, discounts, commissions or
      taxes) actually received by such holder from the sale of Registrable Securities
      which gave rise to such contribution obligation. No person guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      shall be entitled to contribution from any person who was not guilty of such
      fraudulent misrepresentation.

     

    
      
        
        

      

      
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    5. UNDERWRITING
      AND DISTRIBUTION.

     

    5.1 Rule
      144.
      The
      Company covenants that it shall file any reports required to be filed by it
      under the Securities Act and the Exchange Act and shall take such further action
      as the holders of Registrable Securities may reasonably request, all to the
      extent required from time to time to enable such holders to sell Registrable
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144 under the Securities Act, as such Rules
      may be amended from time to time, or any similar rule or regulation hereafter
      adopted by the Commission.

     

    6. MISCELLANEOUS.

     

    6.1 Other
      Registration Rights.
      Except
      with respect to those securities issued or issuable upon exercise of that
      certain Unit Purchase Option to be issued to Morgan Joseph & Co. Inc. or its
      designees in connection with the Company’s initial public offering in _________
      2008, the Company represents and warrants that no person, other than a holder
      of
      the Registrable Securities, has any right to require the Company to register
      any
      shares of the Company’s capital stock for sale or to include shares of the
      Company’s capital stock in any registration filed by the Company for the sale of
      shares of capital stock for its own account or for the account of any other
      person.

     

    6.2 Assignment;
      No Third Party Beneficiaries.
      This
      Agreement and the rights, duties and obligations of the Company hereunder may
      not be assigned or delegated by the Company in whole or in part. This Agreement
      and the rights, duties and obligations of the holders of Registrable Securities
      hereunder may be freely assigned or delegated by such holder of Registrable
      Securities in conjunction with and to the extent of any transfer of Registrable
      Securities by any such holder. This Agreement and the provisions hereof shall
      be
      binding upon and shall inure to the benefit of each of the parties, to Morgan
      Joseph & Co. Inc. and its successors and the permitted assigns of the
      Investor or holder of Registrable Securities or of any assignee of the Investor
      or holder of Registrable Securities. This Agreement is not intended to confer
      any rights or benefits on any persons that are not party hereto other than
      as
      expressly set forth in Article 4 and this Section 6.2.

     

    6.3 Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (collectively, “Notices”)
      required or permitted to be given hereunder or which are given with respect
      to
      this Agreement shall be in writing and shall be personally served, delivered
      by
      reputable air courier service with charges prepaid, or transmitted by hand
      delivery, telegram, telex or facsimile, addressed as set forth below, or to
      such
      other address as such party shall have specified most recently by written
      notice. Notice shall be deemed given on the date of service or transmission
      if
      personally served or transmitted by telegram, telex or facsimile; provided,
      that
      if such service or transmission is not on a business day or is after normal
      business hours, then such notice shall be deemed given on the next business
      day.
      Notice otherwise sent as provided herein shall be deemed given on the next
      business day following timely delivery of such notice to a reputable air courier
      service with an order for next-day delivery.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    To
      the
      Company:

     

    Redstar
      Partners, Inc. 

    122
      East
      42nd
      Street,
      17th
      Floor

    Attn:
      Chairman

     

    with
      a
      copy to:

     

    Graubard
      Miller

    The
      Chrysler Building

    405
      Lexington Avenue 

    New
      York
      NY 10174

    Attn: David
      Alan Miller, Esq.

     

    To
      an
      Investor, to:

     

    Parallax
      Power Components LLC

    c/o
      Redstar Partners, Inc. 

    122
      East
      42nd
      Street,
      17th
      Floor

    New
      York,
      New York 10168

     

    McWong Investments
      LLC 

    c/o
      Redstar Partners, Inc. 

    122
      East
      42nd
      Street,
      17th
      Floor

    New
      York,
      New York 10168

     

    
      Jonathan
        Tulkoff  

      c/o
        Redstar Partners, Inc. 

      122
        East
        42nd
        Street,
        17th
        Floor

      New
        York,
        New York 10168

    

     

    Morgan
      Joseph & Co. Inc. 

    
      600
        Fifth
        Avenue, 19th
        Floor

      New
        York,
        New York 10020

       

    

    6.4 Severability.
      This
      Agreement shall be deemed severable, and the invalidity or unenforceability
      of
      any term or provision hereof shall not affect the validity or enforceability
      of
      this Agreement or of any other term or provision hereof. Furthermore, in lieu
      of
      any such invalid or unenforceable term or provision, the parties hereto intend
      that there shall be added as a part of this Agreement a provision as similar
      in
      terms to such invalid or unenforceable provision as may be possible that is
      valid and enforceable.

     

    6.5 Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which taken together shall constitute one and
      the
      same instrument.

     

    6.6 Entire
      Agreement.
      This
      Agreement (including all agreements entered into pursuant hereto and all
      certificates and instruments delivered pursuant hereto and thereto) constitute
      the entire agreement of the parties with respect to the subject matter hereof
      and supersede all prior and contemporaneous agreements, representations,
      understandings, negotiations and discussions between the parties, whether oral
      or written.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    6.7 Modifications
      and Amendments.
      No
      amendment, modification or termination of this Agreement shall be binding upon
      any party unless executed in writing by such party. Notwithstanding the
      foregoing, any and all parties must obtain the written consent of Morgan Joseph
      & Co. Inc. to amend or modify this Agreement.

     

    6.8 Titles
      and Headings.
      Titles
      and headings of sections of this Agreement are for convenience only and shall
      not affect the construction of any provision of this Agreement.

     

    6.9 Waivers
      and Extensions.
      Any
      party to this Agreement may waive any right, breach or default which such party
      has the right to waive, provided that such waiver will not be effective against
      the waiving party unless it is in writing, is signed by such party, and
      specifically refers to this Agreement. Waivers may be made in advance or after
      the right waived has arisen or the breach or default waived has occurred. Any
      waiver may be conditional. No waiver of any breach of any agreement or provision
      herein contained shall be deemed a waiver of any preceding or succeeding breach
      thereof nor of any other agreement or provision herein contained. No waiver
      or
      extension of time for performance of any obligations or acts shall be deemed
      a
      waiver or extension of the time for performance of any other obligations or
      acts.

     

    6.10 Remedies
      Cumulative.
      In the
      event that the Company fails to observe or perform any covenant or agreement
      to
      be observed or performed under this Agreement, the Investor or any other holder
      of Registrable Securities may proceed to protect and enforce its rights by
      suit
      in equity or action at law, whether for specific performance of any term
      contained in this Agreement or for an injunction against the breach of any
      such
      term or in aid of the exercise of any power granted in this Agreement or to
      enforce any other legal or equitable right, or to take any one or more of such
      actions, without being required to post a bond. None of the rights, powers
      or
      remedies conferred under this Agreement shall be mutually exclusive, and each
      such right, power or remedy shall be cumulative and in addition to any other
      right, power or remedy, whether conferred by this Agreement or now or hereafter
      available at law, in equity, by statute or otherwise.

     

    6.11 Governing
      Law.
      This
      Agreement shall be governed by, interpreted under, and construed in accordance
      with the internal laws of the State of New York applicable to agreements made
      and to be performed within the State of New York, without giving effect to
      any
      choice-of-law provisions thereof that would compel the application of the
      substantive laws of any other jurisdiction.

     

    6.12 Waiver
      of Trial by Jury.
      Each
      party hereby irrevocably and unconditionally waives the right to a trial by
      jury
      in any action, suit, counterclaim or other proceeding (whether based on
      contract, tort or otherwise) arising out of, connected with or relating to
      this
      Agreement, the transactions contemplated hereby, or the actions of the Investor
      in the negotiation, administration, performance or enforcement
      hereof.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have caused this Registration Rights Agreement
      to
      be executed and delivered by their duly authorized representatives as of the
      date first written above.

     

    
      	 	 	 
	 	REDSTAR
              PARTNERS, INC. 
	 
 	 
 	 
 
	 	By:  	 
	 	
              

            

    
      	 	 	 
	 	
              INVESTORS:

               

              PARALLAX
                POWER COMPONENTS LLC

            
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            

    

     

    
      
        	 	 	 
	 	
                MCWONG INVESTMENTS LLC 

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:

                Title:

              
	 	 
	 	 

                
Jonathan
                Tulkoff
	 	 

      

       

       

       

    

    
      
        
        

      

      
        17

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