Document:

Form of Investment Management Trust Agreement

 Exhibit 10.2 
 INVESTMENT MANAGEMENT TRUST AGREEMENT 
 This INVESTMENT MANAGEMENT TRUST AGREEMENT is made as
of                          , 2006 by and between Dekania Corp. (the “Company”) and American Stock
Transfer & Trust Company, as Trustee (“Trustee”). 
 WHEREAS, the Company’s Registration Statement on
Form S-1, File No. 333-134776, as amended, (“Registration Statement”), for its initial public offering of securities (“IPO”) has been declared effective on
                        , 2006 (the “Effective Date”) by the Securities and Exchange Commission; and

 WHEREAS, in accordance with the Subscription Agreement, the Company has issued 250,000 units of its securities to Cohen Bros.
Acquisitions, LLC (the “Sponsor”) at $10.00 per unit, each unit consisting of one share of the Company’s Common Stock, par value of $0.0001 per share (the “Common Stock”) and one warrant exercisable for one
share of Common Stock, in a private placement with aggregate proceeds of $2,500,000 (the “Placement”); and 
 WHEREAS, Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) and Maxim Group LLC (“Maxim” and, collectively with Merrill Lynch, the “Representatives”) are
acting as the representatives of the underwriters (the “Underwriters”) in the IPO; and 
 WHEREAS, as described in
the Company’s Registration Statement: (i) in accordance with the Company’s Amended and Restated Certificate of Incorporation, $89,560,000 ($103,237,000 if the over-allotment option is exercised in full) of the net proceeds of the IPO
(the “IPO Proceeds”), (ii) net proceeds of $2,500,000 received by the Company as a result of the Placement (the “Placement Proceeds”), and (iii) in accordance with the Underwriting Agreement, dated
                         , 2006, between the Company and the Representatives, an additional $1,940,000 ($2,522,000
if the Underwriters’ overallotment option is exercised in full), representing a portion of the Underwriters’ discount (the “Deferred Discount”) will each be deposited in a trust account to be managed by the Trustee. The
amount to be delivered to the Trustee will be referred to herein as the “Property,” the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,” and the
Public Stockholders, the Company, the Representatives and the Underwriters will be referred to together as the “Beneficiaries”; and 
 WHEREAS, Sponsor has agreed to provide a letter of credit (“Letter of Credit”) to the Trustee for the benefit of the public stockholders and the Trust Account in the amount of $3,000,000
($3,291,000 if the over allotment option is exercised in full); 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 and administer any amounts drawn under the Letter of Credit. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, the parties hereto agree as follows: 
 1. Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to: 
 (a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement, in a segregated trust account (“Trust
Account”) established by the Trustee with Deutsche Bank Trust Company Americas; 
  

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 (b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth
herein; 
 (c) In a timely manner, upon the written instruction of the Company, invest and reinvest the Property and any proceeds derived
from the Property in any “Government Security” or in money market funds selected by the Company meeting the conditions specified in Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, as determined by the Company.
As used herein, “Government Security” means any Treasury Bill issued by the United States, having a maturity of one hundred eighty days or less; 
 (d) Collect and receive, when due, all principal and income arising from the Property; 
 (e) Promptly
notify the Company and the Representatives of all communications received by it with respect to the 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 or the Company; 
 (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 to do so; 
 (h) Render to the Company, and the Representatives, and to such other person as the Company may instruct, monthly
written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust Account; and 
 (i) Commence liquidation of the Trust Account upon receipt of an Officers Certificate signed by the Chief Executive Officer or President and Chief Financial Officer in accordance with the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as Exhibit A or Exhibit B, signed on behalf of the Company by its Chief Executive Officer or President and Chief Financial 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, as part of the Company’s: (i) plan of dissolution and liquidation approved by the
Company’s stockholders or (ii) Business Combination (as defined in the Registration Statement) approved by the stockholders, as applicable. The Trustee understands and agrees that, except as provided in Section 3(i) and Section 2
hereof, disbursements from the Trust Account shall be made only pursuant to a duly executed Termination Letter, together with the other documents referenced therein, including without limitation, an independently certified oath and report of the
inspector of the stockholder vote in favor of the Business Combination as provided in Section 3(d) hereof. In all cases, the Trustee shall provide the Representatives with a copy of any Termination Letters, Officers Certificates and/or any
other correspondence that it receives with respect to any proposed withdrawal from the Trust Account promptly after it receives same. 
 2.
Limited Distributions of Income on Property; Letter of Credit. 
 (a) If there is any income tax obligation relating to the income from
the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company, the Internal Revenue Service or applicable state or local taxing authority by wire transfer or check (as 

  

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directed by the Company in its instruction letter), out of the Property in the Trust Account, the amount indicated by the Company as required to pay income
taxes. For the purposes of this paragraph, the phrase “income tax” shall mean any tax measured in whole or in part by income. 
 (b) Upon written request from the Company containing certification that such distribution pursuant to this Section 2(b) shall only be used to fund the working capital requirements of the Company and the costs related to identifying and
researching a prospective target businesses in each case as described in the prospectus that forms a part of the Registration Statement, the Trustee shall distribute to the Company an amount up to an aggregate of $2,500,000 from the interest earned
on the Property and proceeds derived from the Property, net of taxes payable on interest earned on the Property and such proceeds, through the last day of the month immediately preceding the date of receipt of the Company’s written request, it
being agreed that the Company shall be permitted to withdraw interest monthly (or weekly during the first month following the closing of the IPO). 
 (c) Upon receipt by the Trustee of a written instruction from the Company for distributions from the Trust Account in connection with a plan of dissolution and liquidation, accompanied by an Officers Certificate signed by the Chief
Executive Officer or President and Chief Financial Officer of the Company certifying as true, accurate and complete a statement of: (i) the amount of actual expenses incurred or, where known with reasonable certainty, reasonably to be incurred
by the Company in connection with its dissolution and liquidation, including any fees and expenses incurred or reasonably to be incurred by the Company in connection with seeking stockholder approval of the Company’s plan of dissolution and
liquidation, which sum, however, shall not exceed $100,000 in the aggregate, (ii) any amounts due to pay creditors or required to be reserved for payment to creditors up to $2,500,000, and (iii) the sum of (i) and (ii), the Trustee
shall distribute to the Company, (but only from interest earned on funds in the Trust Account) an amount, as directed by the Company in the instruction letter, up to the amount of (iii) as indicated in the instruction letter. 
 (d) Except as provided in this Section 2, no other distributions from the Trust Account shall be permitted except in accordance with Sections
1(i) and 3(i) hereof. 
 (e) The Sponsor may, from time to time, submit a written request to the Trustee, for the Trustee’s consent to a
reduction in the principal amount of the Letter of Credit by an amount specified in such request (such written request, the “LOC Reduction Request”). Such reduction right shall be exercisable with respect to each calendar month
during the term of the Letter of Credit, but only within the time frames provided for in the Letter of Credit. Upon receipt of any LOC Reduction Request, the Trustee shall consent to the reduction requested if, and only if: 
 (i) at the date of the receipt of the LOC Reduction Request, (A) the Trustee has distributed at least $1,250,000 to the Company to fund the
Company’s working capital needs, pursuant to written requests made to it by the Company in accordance with Section 2(b) hereof and (B) both before and after giving effect to any such reduction, the amount in the Trust Account,
including interest earned on the Property and the amount of Deferred Discount, and applying the amount of the Letter of Credit, is equal to no less than $97,000,000 ($111,550,000 if the Underwriters’ overallotment option has been exercised in
full), which is $10.00 per share, held by public stockholders of the Company, and 
 (ii) the Company has provided to the Trustee, (A) a
certificate of the Chief Executive Officer or the Chief Financial Officer of the Company to the effect that immediately after the Trustee shall deliver to the Company its consent to the LOC Reduction Request, the Company will have at least $250,000
available outside of the Trust Account for working capital needs and (B) any other documentation that the Trustee may reasonably request to confirm the accuracy of such certificate. 
  

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 The Trustee shall confirm its consent to an LOC Reduction Request by issuing a certificate substantially
in the form set forth in Exhibit C to this Agreement, and deliver same to the Company and the Sponsor, as soon as practicable after it receives the LOC Reduction Request. 
 (f) If the Company does not complete a Business Combination within the time periods set forth in the prospectus and the Registration Statement, the Board
of Directors is required to recommend a plan of dissolution and liquidation to the Company’s stockholders and upon stockholder approval of the Company’s plan of dissolution and liquidation, the Trustee must liquidate the Trust Account and
make liquidating distributions to the Public Stockholders as further described herein. If the amount in the Trust Account available for distribution to the Public Stockholders upon the Company’s liquidation is less than $10 per share of Common
Stock, the Trustee shall draw on the Letter of Credit (if not expired at the time and to the full extent of the remaining principal amount thereof) so as to ensure that each Public Stockholder receives $10 per share of Common Stock. 
 (g) In determining the per share amount available for distribution to Public Stockholders upon the Company’s liquidation, the Trustee shall request
and may rely upon the records of the transfer agent for the Common Stock as to the number of shares of Common Stock outstanding at the time of liquidation and shall divide the amount in the Trust Account available for distribution to Public
Stockholders by such number. 
 (h) If the Trustee is required to draw on the Letter of Credit pursuant to Section 2(f) hereof, the
Trustee shall make a written request to draw upon the Letter of Credit to Commerce Bank, as issuer of the Letter of Credit, which written request shall be substantially in the form set out in Exhibit D. 
 3. Agreements and Covenants of the Company. The Company hereby agrees and covenants: 
 (a) To provide all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer or President and Chief Financial
Officer. In addition, except with respect to its duties under paragraph 1(i) and 3(i), 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) To 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, willful misconduct or bad faith. 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 Company
shall have the right to conduct and manage the defense against such Indemnified Claim, provided that the Company shall obtain the consent of the Trustee with respect to the selection of counsel, which consent shall not be unreasonably
withheld, conditioned or delayed. The Company may not agree to settle any Indemnified Claim without the prior written consent of the Trustee, which shall not be unreasonably withheld, conditioned or delayed. The Trustee may participate in
such action with its own counsel at its own expense; 
  

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 (c) Pay the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each
disbursement made pursuant to Sections 2(a) and 2(b) as set forth on Schedule A hereto, which fees shall be subject to written modification by the parties from time to time. It is expressly understood that the Property shall not be used to pay such
fees and further agreed that said transaction processing fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and first
year’s annual fee at the consummation of the IPO and shall thereafter pay the annual fee on the anniversary of the Effective Date. The Trustee shall refund to the Company the annual fee (on a pro rata basis) with respect to any period after the
liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 3(c) and as may be provided in Section 3(b) hereof (it being expressly understood that the
Property shall not be used to make any payments to the Trustee under such Sections); 
 (d) That, in the event that the Company presents a
Business Combination or a plan or dissolution and liquidation to its stockholders, the Trustee or another independent party designated by the Representatives shall act as the inspector of election to certify the results of the stockholder vote;

 (e) That the Officers Certificate referenced in Sections 1(i) and 3(i) hereof shall require the Company’s Chief Executive Officer or
President and Chief Financial Officer to each certify the following (wherever applicable): (i) prior to the LOI Termination Date (as such term is defined in Section 3(i) hereof), the Company has entered into a bona fide Letter of Intent
with a target business; and/or (ii) prior to the LOI Termination Date, the Company has entered into a Business Combination with a target business, the terms of which are consistent with the requirements set forth in the Registration Statement;
and/or (iii) prior to the Second Termination Date (as such term is defined in Section 3(i) hereof), the Company has entered into a Business Combination with a target business, the terms of which are consistent with the requirements set
forth in the Registration Statement; and (iv) the Board of Directors of the Company (the “Board”), pursuant to the unanimous written consent of the Board or at a duly called and held meeting of the Board has approved (where
applicable): (A) the Letter of Intent; and/or (B) the Business Combination. A copy of such Board approval and the Letter of Intent and/or the definitive agreement relating to the Business Combination so approved shall be attached as an
exhibit to the Officers Certificate; 
 (f) In connection with any vote of the Company’s stockholders regarding a Business Combination,
to 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 Business Combination; 
 (g) In connection with any vote of the Company’s stockholders regarding a dissolution and liquidation, to
provide to the Trustee an affidavit or certificate of a firm regularly engaged in the business of tabulating stockholder votes (which firm may be the Trustee) verifying the vote of the Company’s stockholders regarding such dissolution and
liquidation; 
 (h) Within five business days after the Underwriters’ over-allotment option (or any unexercised portion thereof) expires
or is exercised in full, to provide the Trustee notice in writing (with a copy to the Representatives) of the total amount of the Deferred Discount, which shall in no event be less than $1,940,000 ($2,522,000 if the over allotment option is
exercised in full); and 
 (i) (1) Subject to the limitations and conditions set forth in paragraph (2) of this section 3(i), as
soon as practicable, after the date 18 months from the date of this Agreement (the “LOI Termination Date”) (or 24 months from the date hereof in the event the Company has executed a Letter of Intent (defined below) prior to the LOI
Termination Date but failed to consummate a Business 

  

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Combination prior to the LOI Termination Date (“Second Termination Date”)), and following the affirmative votes of the Company’s
stockholders to dissolve the Company, the Company shall instruct the Trustee to commence liquidation of the Trust Account as part of the Company’s plan of dissolution and liquidation approved by the Company’s stockholders. The Trustee,
upon receiving the Officers Certificate in accordance with the Termination Letter from the Company, shall deliver a notice to Public Stockholders of record as of the LOI Termination Date or Second Termination Date, whichever the case may be, by U.S.
mail or via the Depository Trust Company (“DTC”), within five days of receiving instructions from the Company to do so, notifying the Public Stockholders of such event and take such other actions as it may deem necessary to inform
the Beneficiaries. The Trustee shall deliver to each Public Stockholder its ratable share of the Property against satisfactory evidence of delivery of the stock certificates by the Public Stockholders to the Company through DTC, its Deposit Withdraw
Agent Commission (DWAC) system or as otherwise presented to the Trustee. 
 (2) Paragraph (1) of this Section 3(i) shall be subject
to the following conditions and limitations: if the Company has entered into a bona fide, executed letter of intent, agreement in principle or engagement letter (a “Letter of Intent”) for a Business Combination prior to the LOI
Termination Date, then the Company shall not be required to send an instruction to the Trustee relating to the liquidation of the Trust Account until the earlier of a Business Combination or the Second Termination Date. 
 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 Sections 1 and 2 hereof and the Trustee shall have no liability to any party
except for liability arising out of its own gross negligence, willful misconduct or bad faith; 
 (b) institute any proceeding for the
collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received written instructions from the Company given as provided
herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto; 
 (c) invest
any Property other than in compliance with Section 1(c); 
 (d) refund any depreciation in principal of any Property; 
 (e) assume that the authority of any person designated by the Company 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 Company 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; 
  

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 (g) verify the correctness of the information set forth in the Registration Statement or to confirm or
assure that any Business Combination or other action taken by the Company is as contemplated by the Registration Statement; 
 (h) pay any
taxes on behalf of the Trust Account (it being expressly understood that the Trustee’s sole obligation with respect to taxes shall be as provided for by Section 2(a) hereof); and 
 (i) verify calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i), 2(a), 2(b) or 2(c) above.

 5. Certain Rights Of Trustee. 
 (a) Before the Trustee acts or refrains from acting, it may require an Officers Certificate or opinion of counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers
Certificate or opinion of counsel. The Trustee may consult with counsel and the advice of such counsel or any opinion of counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon. 
 (b) The Trustee may act through its attorneys and agents and shall not be
responsible for the misconduct or negligence of any agent appointed with due care. 
 (c) The Trustee shall not be liable for any action it
takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Agreement.
 (d) The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Agreement; it shall not be accountable for the Company’s use of the proceeds from the Trust Account. Notwithstanding the
effective date of this Agreement or anything to the contrary contained in this Agreement, the Trustee shall have no liability or responsibility for any act or event relating to this Agreement or the transactions related thereto which occurs prior to
the date of this Agreement, and shall have no contractual obligations to the Beneficiaries until the date of this Agreement. 
 6. Trustee
Resignation; Termination of Agreement. 
 (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 during which time the Trustee shall continue to act in accordance with the terms of this Agreement. 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 the successor trustee shall be bound by the terms of this Agreement; 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, but shall not be obligated to, 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; 
  

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 (b) At such time that the Trustee has completed the liquidation of the Trust Account in accordance with
the provisions of Section 1(i) hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 3(b); or 
 (c) At such time that the Trustee has completed the liquidation of the Trust Account and distributed the Property in accordance with Sections 1(i) and
3(i) hereof, this Agreement shall terminate except with respect to Section 3(b). 
 7. Miscellaneous. 
 (a) The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. Upon receipt of written instructions, the Trustee will confirm such instructions with an authorized individual at an authorized telephone number as listed on the attached Exhibit E. The Company and the Trustee will
each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such
information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon account numbers or other identifying numbers of a Beneficiary, Beneficiary’s bank or intermediary bank, rather than names. The
Trustee shall not be liable for any loss, liability or expense resulting from any error in an account number or other identifying number, provided it has accurately transmitted the numbers provided. 
 (b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to
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. Facsimile or other electronic signatures shall constitute original signatures for all
purposes of this Agreement. 
 (c) This Agreement contains the entire agreement and understanding of the parties hereto with respect to the
subject matter hereof. This Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however, that no such change, amendment or modification may be made without the prior
written consent of the Representatives, who, along with each other Underwriter, the parties specifically agree, are and shall be a third party beneficiaries for purposes of this Agreement; and provided further, any amendment to
Section 3(i) shall require the consent of all of the Public Stockholders. 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 State and County of New York for purposes of
resolving any disputes hereunder. The parties hereto irrevocably submit to such jurisdiction, which jurisdiction shall be exclusive, and hereby waive any objections to such exclusive jurisdiction and accept such venue, and waive any objection that
such courts represent an inconvenient forum. 
 (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: 
  

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 if to the Trustee, to: 
 American Stock Transfer & Trust Company 
 59 Maiden Lane 
 Plaza Level 
 New York, New York 10038

 Attn: Herbert Lemmer 
 Fax No.: (718) 331-1852 
 if to the Company, to: 
 Dekania Corp. 
 2929 Arch Street, Suite 1703

 Philadelphia, Pennsylvania 19104 
 Attn: Thomas H. Friedberg 
 Fax No.: (215) 701-9555 
 in either case with a copy to: 
 Merrill
Lynch, Pierce Fenner & Smith Incorporated 
 4 World Financial Center, 25th Floor 
 New York, NY 10080 
 Attn: Kerry Cannella 
 Fax No.:
(212) 449-3151 
 and 
 Maxim Group LLC 
 405 Lexington Avenue 
 New York, New York 10174 
 Attn: Clifford A. Teller, Director of Investment Banking 
 Fax No.: (212) 895-3783 
 and

 Ledgewood, P.C. 
 1900 Market
Street, Suite 750 
 Philadelphia, Pennsylvania 19103 
 Attn.: J. Baur Whittlesey, Esq. 
 Fax: No.: (215) 753-2513 
 and 
 Ellenoff, Grossman & Schole
LLP 
 370 Lexington Avenue 
 New
York, New York 10017 
 Attn: Douglas S. Ellenoff, Esq. 
 Fax No.: (212) 370-7889 
 and 
 Sidley Austin LLP 
 787 Seventh Avenue

 New York, New York 10019 
 Attn.: Jack I. Kantrowitz, Esq. 
 Fax: (212) 839-5599 
  

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 (f) This Agreement may not be assigned or delegated by the Trustee without the prior written consent of
the Company and the Representatives. 
 (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. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way
of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. The Trustee hereby waives any and all right, title, interest, or claim of any kind (“Claim”) in or to any distribution of the Trust
Account, and hereby agrees not to seek recourse, reimbursement, payment, or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Trustee hereby consents to its inclusion in the Registration Statement and other
materials relating to the IPO. 
 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of
the date first written above. 
  

			
	 AMERICAN STOCK TRANSFER & TRUST COMPANY,
 as Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DEKANIA CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Solely for Section 2(e) of this Agreement:
	
	COHEN BROS. ACQUISITIONS, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

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 EXHIBIT A 
 [Letterhead of Company] 
 [Insert date] 
 American Stock Transfer & Trust Company 
 59 Maiden Lane 
 Plaza Level 
 New York, New York 10038 
 Attn: 
  

	Re:	Trust Account No. [    ] Termination Letter 

 Gentlemen: 
 Pursuant to Section 1(i) of the Investment Management Trust Agreement between Dekania Corp.
(“Company”) and American Stock Transfer & Trust Company (“Trustee”), dated as of
                        , 2006 (“Trust Agreement”), this is to advise you that the Company has entered into an
agreement (“Business Agreement”) with
                                        
(“Target Business”) to consummate a business combination with Target Business (“Business Combination”) on or about
[                                ]. The Company shall notify you at least 2
business days in advance of the actual date of the consummation of the Business Combination (“Consummation Date”). Capitalized words used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 In accordance with paragraph 2 of Article 6 of the Amended and Restated Certificate of Incorporation of the Company, the Business
Combination has been approved by the stockholders of the Company and by the Public Stockholders holding a majority of the IPO Shares, and Public Stockholders holding less than 30% of the IPO Shares and the shares issued in the Placement have voted
against the Business Combination and given notice of exercise of their conversion rights described in paragraph 3 of Article 6 of the Amended and Restated Certificate of Incorporation of the Company. Pursuant to Section 3(f) of the Trust
Agreement, we are providing you with [ an affidavit ] [ a certificate ] of
                                , which verifies the vote of the Company’s
stockholders in connection with the Business Combination. 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 in writing 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 or will, concurrently with your transfer of funds to the accounts
as directed by the Company, be consummated, and (ii) the Company shall deliver to you written instructions with respect to the transfer of the funds held in the Trust Account (“Instruction Letter”). You are hereby directed and
authorized to transfer the funds held in the Trust Account immediately upon your receipt of the counsel’s written notification and the Instruction Letter 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.

  

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 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,
	
	DEKANIA CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	cc:	Merrill Lynch, Pierce, Fenner & Smith Incorporated 

 Maxim Group LLC 
  

 A-2 

 EXHIBIT B 
 [Letterhead of Company] 
 [Insert date] 
 American Stock Transfer & Trust Company 
 59 Maiden Lane 
 Plaza Level 
 New York, New York 10038 
 Attn: 
  

	Re:	Trust Account No. [    ] Termination Letter 

 Gentlemen: 
 Pursuant to paragraphs 1(i) and 2(c) of the Investment Management Trust Agreement between
Dekania Corp. (“Company”) and American Stock Transfer & Trust Company (“Trustee”), dated as of
                        , 2006 (“Trust Agreement”), this is to advise you that the Board of Directors of the
Company and the stockholders of the Company have voted to dissolve the Company and liquidate the Trust Account (as defined in the Trust Agreement). Attached hereto is a copy of the minutes of the meeting of the Board of Directors of the
Company relating thereto, certified by the Secretary of the Company as true and correct and in full force and effect. 
 In accordance with
the terms of the Trust Agreement, we hereby authorize you to commence liquidation of the Trust Account as part of the Company’s plan of dissolution and liquidation. 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 ten (10) days of the liquidation date, or as soon thereafter as is
practicable. You will notify the Company in writing as to when all of the funds in the Trust Account will be available for immediate transfer (“Transfer Date”) in accordance with the terms of the Trust Agreement and the Amended and
Restated Certificate of Incorporation of the Company. You shall commence distribution of such funds in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company and you shall
oversee the distribution of such funds. Upon the payment of all the funds in the Trust Account, the Trust Agreement shall be terminated. 
  

			
	Very Truly Yours,
	
	DEKANIA CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	cc:	Merrill Lynch, Pierce, Fenner & Smith Incorporated 

 Maxim Group LLC 
  

 B-1 

 EXHIBIT C 
 [Letterhead of Trustee] 
 TRUSTEE’S CERTIFICATE OF REDUCTION 
 [Insert date] 
 Commerce Bank

 1006 Astoria Boulevard 
 Cherry Hill, NJ 08034 
 Attention: W. C. Battaglia
  

	Re:	Reduction of Amount of Letter of Credit of Cohen Bros. Acquisitions, LLC (LOC #             )

 Ladies/Gentlemen: 
 Pursuant to Section
             of the Letter of Credit (“LOC”) among Commerce Bank (“Commerce”), Cohen Bros. Acquisitions, LLC, as Applicant (“CB Acquisition”) and
American Stock Transfer & Trust Company (the “Trustee”), as Trustee of Dekania Corp.’s trust account (the “Trust Account”), and Section 2(e) of the Investment Management Trust Agreement, dated
                        , 2006, between Dekania Corp. and the Trustee, this certification is to confirm the Trustee’s
consent to the reduction of the outstanding amount of the LOC by the amount specified below. 
 Pursuant to Section
             of the LOC, the Trustee confirms that $1,250,000 has been drawn by Dekania Corp. for working capital needs from the Trust Account and the Trustee is relying upon CB
Acquisitions’ confirmation, as of the date of this certification, that all the other terms and conditions precedent described in the LOC relating to the reduction of the LOC have been and are satisfied. The Trustee shall no have liability for
the reduction of the LOC. The Trustee has reserved from interest earned on the Trust Account the amount of funds equal to the reduction amount specified below. 
 Amount of LOC prior to Reduction: $             
 Amount Commerce is Authorized
to Reduce LOC: $             
 Resulting Amount of LOC after Reduction:
$             
  

			
	Sincerely,
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 C-1 

 EXHIBIT D 
 [Letterhead of Trustee] 
 REQUEST TO DRAW UPON LETTER OF CREDIT 
 [Insert date] 
 Commerce Bank

 1006 Astoria Boulevard 
 Cherry Hill, NJ 08034 
 Attention: W. C. Battaglia
  

	Re:	Request to Draw Upon Letter of Credit of Cohen Bros. Acquisitions, LLC (LOC #            )

 Gentlemen/Ladies: 
 Pursuant to Section              of the Letter of Credit (“LOC”) among Commerce Bank (“Commerce”), Cohen Bros. Acquisitions, LLC,
as Applicant (“CB Acquisition”) and American Stock Transfer & Trust Company (the “Trustee”), as Trustee of Dekania Corp.’s (the “Company”) trust account (the “Trust Account”) and
Section 2(h) of the Investment Management Trust Agreement, dated                     ,      2006 between
Dekania Corp. and the Trustee, this letter constitutes a request to draw upon the Letter of Credit since: (i) the Company did not complete a business combination within the time periods set forth in the Company’s Registration Statement on
Form S-1, as amended, File No. 333-134776 (the “Registration Statement”) and the Trustee, on behalf of the Company, must liquidate the Trust Account and distribute the amounts therein to public shareholders of the Company in
accordance with the terms of the Registration Statement and the Investment Management Trust Agreement, by and between the Company and the Trustee, and (ii) the amount in the Trust Account available for distribution to the Company’s public
shareholders upon liquidation is less than the required $10.00 per share by $             per share, an aggregate of
$            . 
 Pursuant to Section
             of the LOC, the Trustee is requesting $            , in the aggregate, to be drawn under the Letter of
Credit in order for each public shareholder to receive $10.00 per share upon liquidation. 
  

			
	Sincerely,
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 D-1 

 EXHIBIT E 
  

			
	 AUTHORIZED INDIVIDUAL(S)
 FOR TELEPHONE CALL BACK
	 	 AUTHORIZED
 TELEPHONE NUMBER(S)

	 Company:
	 	
		
	 Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Attn: Thomas H. Freidberg,
President & CEO
 Fax No.: (215) 861-7878
	 	
		
	Underwriters:	 	
		
	 Merrill Lynch, Pierce, Fenner & Smith Incorporated
 4 World Financial Center, 25th Floor
 New York, NY 10080
 Attn: Kerry Cannella
 Fax No.:(212) 449-3151
	 	
		
	 Maxim Group LLC
 405 Lexington Avenue
 New York, New York 10022
 Attn: Clifford A. Teller
 Fax No.:(212) 895-3783
	 	
		
	Trustee:	 	
		
	 American Stock Transfer & Trust Company
 59
Maiden Lane
 Plaza Level
 New York, New York 10038
 Attn:
	 	

  

 E-1 

 SCHEDULE A 
 Schedule of fees pursuant to Section 3(c) of Investment Management Trust Agreement 
 between Dekania
Corp. and American Stock Transfer & Trust Company 
  

					
	 Fee Item
	  	 Time and method of payment
	  	Amount
	Initial acceptance fee	  	Initial closing of IPO by wire transfer	  	$            
	Annual fee	  	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	  	$            
	Transaction processing fee for disbursements to Company under Sections 2(a) and 2(b)	  	Deduction by Trustee from disbursement made to Company under Section 2(b)	  	$            

  

							
		 		 	Agreed:
				
	Dated:                         , 2006	 		 		 	
			
		 		 	Dekania Corp.
				
		 		 	By:	 	  

			
		 		 	American Stock Transfer & Trust Company
				
		 		 	By:	 	  

		 		 		 	Authorized OfficerForm of Registration Rights Agreement

 Exhibit 10.6 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is
entered into as of the              day of             , 2006, by and among Dekania Corp., a Delaware corporation
(the “Company”), and the undersigned parties listed under Holders on the signature page hereto (each, a “Holder” and collectively, the “Holders”). 
 WHEREAS, the Holders currently hold all of the issued and outstanding securities of the Company; 
 WHEREAS, the Holders and the Company desire to enter into this Agreement to provide the Holders with certain rights relating to the registration of
shares of Common Stock held by them; 
 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. 
 “Commission” means the
Securities and Exchange Commission, or any other federal agency then administering the Securities Act or the Exchange Act. 
 “Common
Stock” means the common stock, par value $0.0001 per share, of the Company. 
 “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. 
 “Holder” is defined in the preamble to this Agreement. 

 “Holder 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. 
 “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, (other than a registration statement on 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) and
such registration statement becoming effective. 
 “Registrable Securities” mean the 2,487,500 shares of Common Stock
owned or held by Holders prior to the effective date of the Company’s initial public offering of its securities and 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 shares of Common Stock. 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 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
Common Stock (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). 
 “Release Date” means the date on which shares of Common Stock are disbursed from escrow pursuant to Section 3 of that certain Stock
Escrow Agreement dated as of             , 2006 by and among the parties hereto and American 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. 
  

 2 

 2. REGISTRATION RIGHTS. 
 2.1 Demand Registration. 
 2.1.1. Request for Registration. At any time and
from time to time after the Release Date, the holders of a majority-in-interest of the Registrable Securities may make a written demand for registration under the Securities Act of all or part of their Registrable Securities (a “Demand
Registration”). Any demand for a Demand Registration shall specify the number of shares 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 that decides to include 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 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. 
 2.1.3. Underwritten Offering. If a majority-in-interest of the holders of Registrable Securities 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 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 of Registrable Securities. 
 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 

  

 3 

 
Demanding Holders in writing that the dollar amount or number of Registrable Securities which the Demanding Holders desire to sell, taken together with all
other shares of Common Stock or other securities which the Company desires to sell and the shares of Common Stock, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights held by other
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 Registrable Securities which such Demanding Holder has requested be included in such registration, regardless of
the number of Registrable Securities held by each Demanding Holder) 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 shares of Common Stock 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 shares of Common Stock 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; 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 shares of Common Stock that other shareholders desire to sell that can be
sold without exceeding the Maximum Number of Shares. 
 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 2.1.1. 
 2.2 Piggy-Back Registration. 
 2.2.1. Piggy-Back Rights. If at any time after the Release Date 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 the account of shareholders of the Company (or by the Company and by shareholders of the Company pursuant to Section 2.1), other
than a Registration Statement (i) on Form S-8 or S-4, (ii) for an 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 

  

 4 

 
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 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 commercially reasonable
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 shares of Common Stock which the Company desires to sell, taken together with shares of Common Stock, 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 shares of Common Stock, 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: 
 (i) If the registration is undertaken for the Company’s account:
(A) first, the shares of Common Stock 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 shares of Common Stock, if any, including the Registrable Securities, as to which registration has been requested pursuant to written contractual piggy-back registration rights of security holders (pro rata
in accordance with the number of shares of Common Stock which each such person has actually requested to be included in such registration, regardless of the number of shares of Common Stock with respect to which such persons have the right to
request such inclusion) that can be sold without exceeding the Maximum Number of Shares; and 
 (ii) If the registration is a
“demand” registration undertaken at the demand of persons other than the holders of Registrable Securities pursuant to written contractual arrangements with such persons, (A) first, the shares of Common Stock 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 shares of Common Stock or other securities
that the Company desires to sell 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 Registrable
Securities as to which registration has been requested under this Section 2.2 (pro rata in accordance with the number of shares of Registrable 

  

 5 

 
Securities held by each such holder); 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 shares of Common Stock, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights which other shareholders desire to sell that can be sold without exceeding the
Maximum Number of Shares. 
 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 may also elect to
withdraw a registration statement at any time prior to the effectiveness of the Registration Statement. Notwithstanding any such withdrawal, the Company shall pay all registration expenses to the extent 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 after the release
date, 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 and the Company shall not be obligated to effect such a request if the Company has within the preceding twelve (12) month period
effected two registrations on Form S-3. 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, file and
use its best efforts to make effective 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 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 2.2.4: (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 $10,000,000. Registrations effected pursuant to this
Section 2.2.4 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 commercially reasonable 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: 
 3.1.1. Filing Registration Statement. Subject to Section 2.2.4., the Company
shall, as expeditiously as possible and in any event within sixty (60) days after receipt of a request for a Demand Registration pursuant to Section 2.1 or a registration on Form S-3 pursuant to Section 2.2.4, prepare and file with
the Commission a Registration Statement on any form for 

  

 6 

 
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 commercially reasonable efforts to cause such Registration Statement to become and remain 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 one hundred twenty (120) 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, and in the event of a Piggy Back Registration, the Company has the right to terminate the registration at its choosing, in each case if the Company shall furnish to
the holders a certificate signed by the Chief Executive Officer of the Company stating that, in the good faith judgment of the Board of Directors of the Company, it would not be in the best interests of 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; and provided further that the holders shall provide at least fifteen (15) business days’ notice of the date on which they wish the Company to prepare and file a Registration Statement with the Commission.

 3.1.2. Copies. Prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, the
Company should 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 (which period shall not exceed the sum of one
hundred eighty (180) days plus any period during which any such disposition is interfered with by any stop order or injunction of the Commission or any governmental agency or court) 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 five
(5) 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
five (5) 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 

  

 7 

 
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 reasonably object. 
 3.1.5. State Securities Laws Compliance. The Company shall use its commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by the Registration Statement under the
securities or “blue sky” laws of such jurisdictions in the United States in which such registration or qualification is required and which 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 qualified under the laws of 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 for this purpose be required to qualify generally to do business in any jurisdiction where it would not
otherwise be required to qualify but for this paragraph 3.1.5 or subject itself to taxation in any such jurisdiction. 
 3.1.6. Agreements for Disposition. The Company shall enter into such customary agreements (including, if applicable, an underwriting agreement in customary form) and as may be required by applicable law, take such other actions as
are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities provided, however, the holders of the Registrable Securities may not require the Company to accept the terms, conditions or provisions in any
such agreement which the Company determines are adverse to the Company’s best interests. 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 cover only those matters customarily covered in offerings of similar size and with respect to companies in the same business, and 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 

  

 8 

 
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. Holders of Registrable
Securities shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate to such holders and their intended methods of distribution. Such holders, however, shall agree
to such covenants and indemnification and contribution obligations for selling stockholders as are customarily contained in the agreements of that type. Further, such holders shall cooperate fully in the preparation of the registration statement and
other documents relating to any offering in which they include securities. Each holder shall also furnish to the Company such information regarding itself, the Registrable Securities held by such holder, and the intended method of disposition of
such securities as shall be reasonably required to effect the registration of the Registable Securities. 
 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, 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 reasonably requested by any of them in connection with their discharge of their due diligence
responsibility 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, upon request, 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 each case delivered in connection with the Registration Statement. 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, upon request, 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, beginning within three (3) months after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 

 

 9 

 3.1.11. Listing. The Company shall use its commercially reasonable 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 2.2.4 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. 
 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) National Association of Securities Dealers, Inc. 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); and (viii) the fees and expenses of any special experts retained by the Company in connection with 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 in proportion to the respective amount of shares each is selling in such offering. The holders of
the Registrable Securities shall bear all costs and expenses incurred by them in connection with any such registration except as specifically provided in this Section 3.3. 
 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 

  

 10 

 
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 Holder 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 a Holder 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 “Holder
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 Holder Indemnified Party for any legal and any other expenses reasonably incurred by such Holder 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. If requested by any Underwriter of the Registrable Securities, the Company shall enter into an underwriting agreement in customary form and reasonably satisfactory to the Company provided that any
indemnification provisions included therein shall be on substantially the same basis as that of the indemnification provided above in this Section 4.1. 
 4.2 Indemnification by Holders of Registrable Securities. Each selling Holder or 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 other person, if any, who controls the Company or any such
underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, claims, judgments, damages or liabilities 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 

  

 11 

 
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 such 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 (after payment of
any underwriting fees, discounts, commissions or taxes) 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, and shall pay the fees and expenses of such counsel unless: (i) the Indemnified Party and the Indemnifying Party shall have mutually agreed to the retention of such counsel
and (ii) the named parties to any such proceeding (including any impleaded parties) include both the Indemnified Party and the Indemnifying Party, and 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. 
  

 12 

 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 benefits received by the Indemnified Parties on the one hand and the Indemnifying Parties on the other from the offering. If, however, the allocation
provided by the immediately preceding sentence is not permitted by applicable law or if the Indemnified Party failed to give the notice required under Section 4.3 above, then each Indemnifying Party shall contribute to such amount paid or
payable by such Indemnified Party in such proportion as is appropriate to reflect not only such relative benefits but also 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. 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. 
 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. 
  

 13 

 6. MISCELLANEOUS. 
 6.1 Other Registration Rights. The Company represents and warrants that no person, other than (i) a holder of the Registrable Securities, (ii) the subscriber for units of the Company’s Common
Stock and warrants pursuant to that certain Subscription Agreement dated as of             , 2006 by and between the Company and such subscriber, and (iii) the holders of
certain Incentive Warrants to purchase 1,420,000 shares of Common Stock, 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 hereunder may be freely assigned or delegated by such Holder 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 and their respective successors and the permitted assigns of the Holder or holder of Registrable Securities or of any assignee of the Holder 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:	  	 Dekania Corp.
 2929 Arch Street, Suite 1703

Philadelphia, Pennsylvania 19104
 Attn: Thomas H. Friedberg, President
& Chief
 Executive Officer
 Fax No.: (215)
861-7878

		
	with a copy to:	  	 Ledgewood, P.C.
 1900 Market Street, Suite 750

Philadelphia, Pennsylvania 19103
 Attn: J. Baur Whittlesey, Esq.

Fax No.: (215) 753-2513

		
	To a Holder, to:	  	 Daniel G. Cohen
 c/o Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Fax No.: (215) 861-7878

		
		  	 Christopher Ricciardi
 c/o Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Fax No.: (215) 861-7878

		
		  	 Thomas H. Friedberg
 c/o Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Fax No.: (215) 861-7878

		
		  	 Paul Vernhes
 c/o Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Fax No.: (215) 861-7878

		
		  	 David Nathaniel
 c/o Dekania Corp.
 2929 Arch Street, Suite 1703
 Philadelphia, Pennsylvania 19104
 Fax No.: (215) 861-7878

		
		  	 Cohen Bros. Acquisitions, LLC
 2929 Arch Street, Suite
1703
 Philadelphia, Pennsylvania 19104
 Attn: Daniel
Munley
 Fax No.: (215) 861-7878

  

 15 

 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 and be 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. Such counterparts may be delivered between the parties by facsimile or other electronic transmission. 
 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. 
 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. 
 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 Holder 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. 
  

 16 

 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 Holder in the negotiation, administration, performance or enforcement hereof. 
 6.13 Notwithstanding anything to the contrary in the
Agreement and regardless of whether a registration statement is current under the Act with respect to the shares of Common Stock held by the Holder, in no event will a Holder of Common Stock be entitled to receive a net-cash settlement or other
consideration in lieu of unregistered shares of Common Stock. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 17 

 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. 
  

			
	DEKANIA CORP.
		
	 By:
	 	  
		 	Name:
		 	Title:

  

			
	HOLDERS:
	
	  
	Daniel G. Cohen
	
	  
	Thomas H. Friedberg
	
	  
	Christopher Ricciardi
	
	  
	Paul Vernhes
	
	  
	David Nathaniel

  

			
	COHEN BROS. ACQUISITIONS, LLC
		
	By:	 	Cohen & Company, its sole member
		
	By:	 	  
		 	Name:
		 	Title:

  

 18

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