Document:

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This investment management
trust agreement (“Agreement”) is made as of July 19, 2012 by and between Infinity Cross Border Acquisition Corporation
(the “Company”), a British Virgin Islands business company, and Continental Stock Transfer & Trust Company
(the “Trustee”), located at 17 Battery Place, New York, New York 10004. Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Registration Statement (defined below).

 

WHEREAS,
the Company’s initial registration statement, as amended, on Form F-1, No. 333-173575 (the “Registration Statement”),
for its initial public offering of securities (the “IPO”) has been declared effective as of the date hereof
by the Securities and Exchange Commission (the “Commission”); and

 

WHEREAS,
EarlyBirdCapital, Inc. (“EBC”) is acting as the representative of the several underwriters in the IPO (the “Underwriters”)
pursuant to an underwriting agreement (the “Underwriting Agreement”); and

 

WHEREAS,
simultaneously with the IPO, Infinity I-China Fund (Cayman), L.P., Infinity I-China Fund (Israel), L.P.,
Infinity I-China Fund (Israel 2), L.P. and Infinity I-China Fund (Israel 3), L.P. (collectively, the “Sponsors”),
the sponsors of the Company, will be purchasing an aggregate of 4,000,000 warrants (or up to 4,381,818 Sponsor Warrants to the
extent that the Underwriters exercise all or a portion of the over-allotment option) (“Sponsor Warrants”) from
the Company for an aggregate purchase price of $2,000,000; and

 

WHEREAS,
simultaneously with the IPO, EBC or its designees (together with the Sponsors, the “Insider Warrant Holders”)
will be purchasing an aggregate of 400,000 warrants (or up to 438,182 warrants if the Underwriters exercise the over-allotment
option) (“EBC Warrants” and together with the Sponsor Warrants, the “Insider Warrants”)
from the Company for an aggregate of $200,000; and

 

WHEREAS,
as described in the Registration Statement, and in accordance with the Company’s Memorandum and Articles of Association,
(as amended, the “Memorandum and Articles of Association”), $40,000,000 of the gross proceeds of the IPO and
sale of the Insider Warrants ($46,000,000, if the Underwriters’ over-allotment option is exercised in full) will be delivered
to the Trustee to be deposited and held in a trust account (the “Trust Account”) for the benefit of the Company
and the holders of the Company’s ordinary shares, no par value (the “Ordinary Shares”), issued in the
IPO as hereinafter provided (the aggregate amount to be delivered to the Trustee will be referred to herein as the “Property,”
the ordinary shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,”
and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”); and

 

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WHEREAS,
pursuant to certain provisions in the Company’s Memorandum and Articles of Association, the Public Shareholders may, regardless
of how such shareholders vote in connection with the Company’s initial acquisition, share exchange,
share reconstruction and amalgamation or contractual control arrangement with, purchase of all or substantially all of the assets
of, or any other similar business combination with operating businesses or entities (a “Business Combination”),
demand the Company redeem such Public Shareholders’ Ordinary Shares into cash or redeem such Ordinary Shares pursuant to
a tender offer pursuant to the Rule 13e-4 and Regulation 14E of the Commission, as applicable and based upon the Company’s
choice of proceeding under the proxy rules or tender offer rules, each as promulgated by the Commission (“Redemption Rights”);
and

 

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

 

NOW THEREFORE, IT IS AGREED:

 

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

 

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

 

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

 

(c)          In
a timely manner, upon the written instruction of the Company, to invest and reinvest the Property in any of (i) U.S. Treasuries
having a maturity of 180 days or less, (ii) any open ended investment company that holds itself out as a registered money market
fund, which invests in U.S. Treasuries, or (iii) any open ended investment company that holds itself out as a money market fund,
which invests in U.S. Treasuries selected by the Company meeting the conditions of paragraphs (c)(2), (c)(3) and (c)(4) of Rule
2a-7 promulgated under the Investment Company Act of 1940, as amended (the “Act”), as determined by the Company
and, with respect to option (iii) above, accompanied by an opinion of counsel reasonably satisfactory to EBC that such investment
would not cause the Company to be an investment company under the Act.

 

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

 

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

 

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

 

(g)          Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when reasonably
indemnified by the Company and instructed by the Company to do so, so long as the Company shall have advanced funds sufficient
to pay the Trustee’s expenses incident thereto.

 

(h)          Render
to the Company, 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 only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B hereto,
signed on behalf of the Company by an executive officer and complete the liquidation of the Trust Account or distribute the Property
in the Trust Account only as directed by the Company; provided, however, that in the event that a Termination Letter
has not been received by the Trustee by 11:59 P.M. New York City time on the 18-month anniversary of the closing of the IPO (or
21-month anniversary of the closing of the IPO if a definitive agreement is executed within 18 months from the closing of the IPO
but a Business Combination has not been consummated within such period), the Trust Account shall be liquidated as soon as practicable
thereafter in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed
to the Public Shareholders of record at the close of trading (4:00 P.M. New York City time) on the applicable anniversary date.
For the purposes of clarity, any transmission of such Termination Letter electronically, whether by facsimile, electronic mail
(e-mail), PDF or otherwise, shall constitute an original of such termination Letter hereunder.

 

2.          Limited
Distributions of Income from Trust Account.

 

(a)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C, the Trustee shall distribute to the Company by wire transfer from the interest income collected on the Property
the amount necessary to cover any tax obligation owed by the Company.

 

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(b)          The
Company may withdraw funds from the Trust Account from the interest income collected in the Property for working capital purposes
by delivery of Exhibit C to the Trustee. The distributions referred to herein shall be made only from interest income collected
on the Property and only if there is an amount of interest income available in the Trust Account sufficient to pay the Company’s
tax obligations on such interest income or otherwise then due at that time.

 

(c)          Also,
by delivery of Exhibit C and only if the Company has submitted for shareholder approval an amendment to its Memorandum and
Articles of Association relating to shareholders rights or pre-Business Combination activity (“Amendment”) and
provided dissenting Public Shareholders with the opportunity to redeem their Ordinary Shares in connection with such vote. In connection
therewith, the Company shall deliver, in addition to Exhibit C, an affidavit which verifies the vote on such Amendment or
similar confirmation evidencing such results. Upon receipt of such evidence, the Trustee shall, as soon as practicable, release
the necessary funds to the Company in order to complete the redemption of such Public Shareholders who elect to redeem their Ordinary
Shares. The Trustee shall pay to the Company such amount equal to: (x) the number of Ordinary Shares voting against the Amendment
and electing to be redeemed multiplied by (y) an amount equal to the pro rata per share amount held in the Trust Account.

 

(d)          In
no event shall the payments authorized by Sections 2(a) and 2(b) cause the amount in the Trust Account to fall below the amount
initially deposited into the Trust Account. Except as provided in Sections 2(a), 2(b) and 2(c) above, no other distributions from
the Trust Account shall be permitted except in accordance with Section 1(i) hereof.

 

(e)          The
written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to such funds,
and the Trustee has no responsibility to look beyond said request.

 

(f)          In
all cases, the Company shall provide EBC with a copy of any Termination Letters and/or any other correspondence that it issues
to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

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

 

(a)          Give
all instructions to the Trustee hereunder in writing or the electronic equivalent, signed by the Company’s President, Chief
Executive Officer or Chief Financial Officer, and as specified in Section 1(i). In addition, except with respect to its duties
under Sections 1(i), 2(a), 2(b) and 2(c) above, the Trustee shall be entitled to rely on, and shall be protected in relying on,
any verbal, electronic 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;

 

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(b)          Subject
to the provisions of Section 5, hold the Trustee harmless and indemnify the Trustee from and against, any and all expenses, including
reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by the trustee
hereunder or any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in
connection with any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,
or the Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s
gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this section, it shall notify
the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall
have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not
agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

(c)          Pay
the Trustee the fees set forth on Schedule A hereto;

 

(d)          In
connection with the vote, if any, of the Company’s shareholders regarding a Business Combination, provide to the Trustee
an affidavit or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes
verifying the vote of the Company’s shareholders regarding such Business Combination; and

 

(e)          In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company
agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement.

 

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

 

(a)          Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein;

 

(b)          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 or willful misconduct;

 

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(c)          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 to it funds sufficient to pay any expenses incident thereto;

 

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

 

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

 

(f)          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;

 

(g)          The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, judgment, instruction, notice, demand, certificate, opinion
or advice of counsel (including counsel chosen by the Trustee, (which counsel may be company counsel) 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;

 

(h)          Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement; and

 

(i)          
Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to
income and activities relating to the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company
(including but not limited to income tax obligations), it being expressly understood that as set forth in Section 2(a), if there
is any income or other tax obligation relating to the Trust Account or the Property in the Trust Account, as determined from time
to time by the Company and regardless of whether such tax is payable by the Company or the Trust, at the written instruction of
the Company, the Trustee shall make funds available in cash from the Property in the Trust Account an amount specified by
the Company as owing to the applicable taxing authority, which amount shall be paid directly to the Company by electronic funds
transfer, account debit or other method of payment, and the Company shall forward such payment to the taxing authority;

 

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(j)          Pay
or report any taxes on behalf of the Trust Account other than pursuant to Section 2(a).

 

(k)          Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Sections 1(i), 2(a), 2(b) or 2(c).

 

5.          No
Right of Set-Off. The Trustee waives any right of set-off or any right, title, interest or claim of any kind that the Trustee
may have against the Property held in the Trust Account. In the event the Trustee has a claim against the Company under this Agreement,
including, without limitation, under Section 3(b), the Trustee will pursue such claim solely against the Company and not against
the Property held in the Trust Account.

 

6.          Termination.
This Agreement shall terminate as follows:

 

(a)          If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee during which time the Trustee shall act in accordance with 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 this Agreement
shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety days
of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with
any court in the State of New York or 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; or

 

(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).

 

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. 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 all information supplied to it by the Company, including, account names, account numbers,
and all other identifying information relating to a beneficiary, beneficiary’s bank or intermediary bank. The Trustee shall
not be liable for any loss, liability or expense resulting from any error in the information or transmission of the wire.

 

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

 

(c)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Sections 1(i), 2(a), 2(b), 2(c) and 2(d) (which may not be modified, amended or deleted without the affirmative vote of at
least 65% of the then outstanding Ordinary Shares; provided that no such amendment will affect any Public Shareholder who
has otherwise either (i) indicated his election to redeem his Ordinary Shares in connection with a shareholder vote sought to amend
this Agreement or (ii) not consented to any amendment to this Agreement to extend to the time he would be entitled to a return
of his pro rata amount in the Trust Account), this Agreement or any provision hereof may only be changed, amended or modified (other
than to correct a typographical error) by a writing signed by each of the parties hereto. The provisions of Section 1(c) hereof
may not be amended without the prior written consent of EBC. As to any claim, cross-claim or counterclaim in any way relating to
this Agreement, each party waives the right to trial by jury and the right to set-off as a defense. The Trustee may request an
opinion from Company counsel as to the legality of any proposed amendment as a condition to its executing such amendment.

 

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

 

(e)          Unless
otherwise specified herein, 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
or delivery confirmation requested), by hand delivery or by electronic or facsimile transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn:  Frank A. DiPaolo, CFO

Fax No.:  (212) 509-5150

  

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if to the Company, to:

 

Infinity Cross Border Acquisition Corporation

c/o Infinity-C.S.V.C. Management Ltd.

3 Azrieli Center (Triangle Tower)

42nd Floor, Tel Aviv, Israel, 67023

Attn: Mark Chess

Fax No: +972-3-607-5455

 

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

 

Ellenoff Grossman & Schole LLP

150 East 42nd Street, 11th Floor

New York, New York 10017

Attn: Stuart Neuhauser, Esq.

Fax No: (212)-370-7889

 

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

 

(f)          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. In the event that the Trustee has a claim against the Company under this Agreement,
the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

 

(g)          This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

(h)          This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic
transmission shall constitute valid and sufficient delivery thereof.

 

(i)          The
Company has also retained the Trustee to serve as its share transfer agent and warrant agent and shall pay the fees set forth in
Schedule A for such services. Additionally, the Trustee has agreed to provide all services, including, but not limited to: the
mailing of proxy or tender documents to registered holders, all wires in connection with the Business
Combination (including the exercise of Redemption Rights) and maintaining the official record of the exercise of Redemption Rights
and shareholder voting (if applicable).

 

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(j)          Each
of the Company and the Trustee acknowledge that EBC is a third-party beneficiary of this Agreement.

 

[Signature page follows]

 

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

 

	CONTINENTAL STOCK TRANSFER	 
	& TRUST COMPANY, as Trustee	 
	 	 
	By:	/s/ Frank A. DiPaolo	 
	Name: Frank A. DiPaolo	 
	Title:  CFO & Trust Officer	 
	 	 
	INFINITY Cross Border Acquisition Corporation
	 	 
	By:	/s/ Mark Chess	 
	Name: Mark Chess	 
	Title:  Executive Vice President	 

 

 

    	 

    	 

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of

payment	 	 	Amount (1)	 
	Closing fee	 	Consummation of IPO by wire transfer of funds	 	 	$	3,500	 
	Trustee fee	 	Entire Term	 	 	$	10,000	(2)
	Share transfer agent fee	 	Monthly until consummation of Business Combination	 	 	$	500.00	(3)
	Warrant agent fee	 	Monthly until consummation of Business Combination	 	 	$	200	(3)
	All services in connection with a Business Combination and/or all services in connection with liquidation of Trust Account if no Business Combination	 	Upon final liquidation of the Trust Account but, upon liquidation if no Business Combination, only from interest earned or from the Company by wire transfer of funds	 	 	 	Standard and customary rates	 
	 	 	 	 	 	 	 	 	 

		(1)	Any amounts owed by the Company are subject in their
entirety to the provisions of Section 5 of this Agreement.

		(2)	$5,000.00 payable at consummation of IPO and $5,000.00
deferred until consummation of the Business Combination.

		(3)	$100.00 per month deferred until after consummation of
the Business Combination.

 

    	 

    	 

    

 

EXHIBIT A

 

[Letterhead of Company]

[Insert date]

 

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank Di Paolo

 

	 	Re:	Trust Account No. [    ] - Termination Letter

 

Gentlemen:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Infinity Cross Border Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company, dated as of [ ], 2012 (“Trust Agreement”), this is to advise
you that the Company has entered into an agreement with [ ] (the “Target Businesses”) to consummate a Business
Combination with the Target Businesses on or before [ ] (the “Consummation Date”). This letter shall serve as
the 48 hour notice required with respect to the Business Combination. Capitalized words used herein and not otherwise defined shall
have the meanings ascribed to them in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on [ ] and to transfer the
entire proceeds to the above referenced Trust checking account at [ ] to the effect that, on the Consummation Date, all of the
funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct
on the Consummation Date.  It is acknowledged and agreed that while the funds are on deposit in the Trust checking account
awaiting distribution, the Company will not earn any interest or dividends.

 

On or before the Consummation
Date: (i) counsel for the Company shall deliver to you (a) an affidavit which verifies the vote of the Company’s shareholders
in connection with the Business Combination and (b) written notification that the Business Combination has been consummated or
will be consummated, concurrently with your transfer of funds to the accounts as directed by the Company, (ii) the Company and
EBC shall deliver to you joint 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 letter 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.

 

    	 

    	 

    

 

 

In the event the Business
Combination is not consummated by 11:59 p.m. on the Consummation Date and we have not notified you of a new Consummation Date,
then, the funds held in the Trust checking account shall be reinvested as provided for by the Trust Agreement as soon as practicable
thereafter.

 

	 	Very truly yours,
	 	 
	 	Infinity Cross Border Acquisition

 Corporation
	 	 
	 	By:	 	 
	 	Name:
	 	Title:

 

    	 

    	 

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank Di Paolo

 

	 	Re:	Trust Account No. [     ]- Termination Letter

 

Gentlemen:

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Infinity Cross Border Acquisition Corporation (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of ________, 2012 (the “Trust Agreement”),
this is to advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame
specified in the Company’s Memorandum and Articles of Association, as described in the Company’s prospectus relating
to its IPO.

In accordance with the terms of the Trust
Agreement, we hereby authorize you to liquidate the Trust Account on [ ] and to transfer the total proceeds to the Trust checking
account at [ ] for distribution to the shareholders. The Company has selected [ ] as the record date for the purpose of determining
the shareholders entitled to receive their pro rata share of the liquidation proceeds. You agree to be the paying agent of record
and in your separate capacity as paying agent to distribute said funds directly to the Company’s shareholders (other than
with respect to the initial, or insider shares) in accordance with the terms of the Trust Agreement, the Memorandum and Articles
of Association of the Company and the fees set forth on Schedule A to the Trust Agreement. Upon the distribution of all of the
funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	Infinity Cross Border Acquisition 

Corporation
	 	 
	 	By:	 	 
	 	Name:
	 	Title:

 

    	 

    	 

    

 

EXHIBIT C

[Letterhead of Company]

[Insert date]

Continental Stock Transfer

& Trust Company

17 Battery Place, 8th Floor

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

	 	Re:	Trust Account No. [     ]

 

Gentlemen:

 

Pursuant to Section [2(a), 2(b) or 2(c)]
of the Investment Management Trust Agreement between Infinity Cross Border Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company, dated as of ___________, 2012 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ [of the interest income earned on the Property as of the date hereof]
[of the Property]. The Company needs such funds [to pay for the tax obligations as set forth on the attached tax return or tax
statement] or [for working capital purposes] or [to redeem dissenting shareholders in connection with an amendment to the Company’s
Memorandum and Articles of Association relating to shareholders rights or pre-Business Combination activity (“Amendment”)].
[We have included an affidavit or similar confirmation relating to the Amendment and the number of dissenting shareholders in connection
therewith as an exhibit to this letter]. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized
to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

	 	[WIRE INSTRUCTION INFORMATION]
	 	 
	 	Infinity Cross Border Acquisition Corporation
	 	 
	 	By:	 	 
	 	Name:
	 	Title:

 

    	 

    	 

    

 

EXHIBIT D

 

	AUTHORIZED INDIVIDUAL(S) 

    FOR TELEPHONE CALL BACK	 	AUTHORIZED

    TELEPHONE NUMBER(S)
	 	 	 
	Company:	 	 
	 	 	 
	Infinity Cross Border Acquisition Corporation	 	 
	c/o Infinity-C.S.V.C. Management Ltd.	 	 
	3 Azrieli Center (Triangle Tower)	 	 
	42nd Floor, Tel Aviv, Israel, 67023	 	 
	Attn: Mark Chess	 	(212)-317-3376
	 	 	 
	Ellenoff Grossman & Schole LLP	 	 
	150 East 42nd Street, 11th Floor	 	 
	New York, New York, 10017	 	 
	Stuart Neuhauser, Esq.	 	(212)-370-1300
	Douglas S. Ellenoff, Esq.	 	 
	 	 	 
	Trustee:	 	 
	 	 	 
	Continental Stock Transfer	 	 
	& Trust Company	 	 
	17 Battery Place	 	 
	New York, New York 10004	 	 
	Attn: Frank Di Paolo, CFO	 	(212) 845-3270INFINITY CROSS BORDER ACQUISITION CORPORATION

 

July 19, 2012

 

Infinity-C.S.V.C. Management Ltd.

3 Azrieli Center (Triangle Tower) 42nd
Floor

Tel Aviv, Israel, 67023

 

Re: Administrative Services Agreement

 

Gentlemen:

 

This letter will confirm our agreement
that, commencing on the date the securities of Infinity Cross Border Corporation (the “Company”) are first listed
on the Nasdaq Capital Market (“Listing Date”), pursuant to a Registration Statement on Form F-1 and prospectus
filed with the Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier
of the consummation by the Company of an initial business combination (“Business Combination”) or the Company’s
liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination
Date”), Infinity-C.S.V.C. Management Ltd. (“Infinity-C.S.V.C. Management Ltd”) shall make available
to the Company, at 3 Azrieli Center (Triangle Tower) 42nd Floor, Tel Aviv, Israel, 67023,
(or any successor location of Infinity-C.S.V.C. Management Ltd.), certain office space, utilities and secretarial support (collectively,
the “Administrative Services”) as may be reasonably required by the Company.  For such Administrative
Services, the Company shall pay an aggregate of $10,000 per month.

 

Infinity-C.S.V.C. Management
Ltd. hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind (each, a “Claim”)
in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit
of the public shareholders of the Company and into which substantially all of the proceeds of the Company’s initial public
offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the
future as a result of, or arising out of, this agreement, which Claim would reduce, encumber or otherwise adversely affect the
Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment
or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

This letter agreement
constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any
way to the subject matter hereof or the transactions contemplated hereby.

 

This letter agreement
may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

 

No party hereto may
assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval
of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee.

 

This letter agreement,
the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, tort, statute,
law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York,
without giving effect to its choice of laws principles.

 

[Signature page follows]

 

    	 

    	 

    

 

	 	Very truly yours,
	 	 
	 	INFINITY CROSS BORDER ACQUISITION CORPORATION
	 	 
	 	By:	/s/ Mark Chess
	 	Name:	Mark Chess
	 	Title:	Executive Vice President

 

 

AGREED TO AND ACCEPTED BY:

INFINITY-C.S.V.C. MANAGEMENT LTD.

 

	By:  	/s/ Avishai Silvershatz	 
	 	Name: Avishai Silvershatz	 
	 	Title:  Managing Partner	 

 

[Signature Page to Administrative Services
Letter Agreement]

Signature Page to Administrative Services
Agreement

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