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Exhibit 4.3    
    

[SPECIMEN
WARRANT CERTIFICATE] 

[THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN A SECURITIES ESCROW AGREEMENT (THE "AGREEMENT") AND MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT) AND ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER AND OTHER AGREEMENTS SET FORTH
IN A LETTER AGREEMENT AND A WARRANT AGREEMENT, AS AMENDED. 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY
INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT COVERING THESE SECURITIES UNDER THE ACT OR SUCH LAWS OR AN
EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.](1) 

	No.            	 	CUSIP No.                        

THIS
WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO

5:00 P.M. NEW YORK CITY TIME,                        , 2012 

THIRD WAVE ACQUISITION CORP.

Warrant
Certificate evidencing 

Warrants
to Purchase Common Stock, par value $0.001, as described herein. 

THIS
CERTIFIES THAT, for value received                        , or its registered assigns, is the registered holder of a Warrant or
Warrants expiring                        , 2012 (the "Warrant") to purchase one
fully paid and non-assessable share of Common Stock, par value $0.001 per share (the "Shares"), of Third Wave Acquisition Corp., a Delaware corporation (the "Company"), for each Warrant
evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the Company, commencing on the later of (i) the completion of a Business Combination, and
(ii)                         , 2009 [one year from the consummation of the Public Offering (as defined
in the Warrant Agreement)],
such number of Shares of the Company at the price of $7.50 per share, upon surrender of this Warrant Certificate accompanied by the annexed duly executed subscription form and payment of the Warrant
Price at the office or agency of American Stock Transfer & Trust Company (the "Warrant Agent") (such payment to be made by check payable to the Warrant Agent), but only subject to the
conditions set forth herein and in the Warrant Agreement (as defined below); provided, however, in lieu
of the payment of the Warrant Price, a Registered Holder (as defined in the Warrant Agreement) of a Warrant shall have the right (but not the obligation) to convert any exercisable but unexercised
Warrants into that number of shares of Common Stock equal to the quotient obtained by dividing (x) the Value of the Warrants being exercised by (y) the Current Market Value. The "Value"
of the Warrants being exercised shall equal the amount derived from subtracting (a)(i) the Warrant Price multiplied by (ii) the number of shares of Common Stock issuable upon exercise of
the Warrants being converted from (b)(1) the Current Market Value of a share of Common Stock multiplied by (2) the number of shares of Common Stock issuable upon exercise of the Warrants
being converted; provided that if the resulting quotient contains a fraction, such quotient will be rounded down to the nearest whole number. As used herein, the term "Current Market Value" per share
of Common Stock at any date shall mean the average last sales price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the Warrant
Agent receives notice of the Registered Holder's exercise of the Conversion Right in the principal trading market for the Common Stock as reported by any national securities exchange or quoted on the
NASD OTC Bulletin Board (or its successor entity), as the case may be; provided, that if the fair market value of the Common Stock cannot be so
determined, the "Current Market Value" per share shall be determined by the Board of Directors of the Company, in good faith. The Warrant Agreement provides that upon the occurrence of certain events
the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted.
The term "Warrant Price" as used in this Warrant Certificate refers to the price per Share at which Shares may be purchased at the time the Warrant is exercised. 

	(1)
	To
be included only in Warrant Certificates representing Private Warrants. 

1

 

        This
Warrant Certificate is issued under and in accordance with the Amended and Restated Warrant Agreement, dated as of January 4, 2008 (the "Warrant Agreement"), between the
Company and the Warrant Agent and is subject to the terms and provisions contained in the Warrant Agreement, all of which terms and provisions the holder of this Warrant Certificate and the beneficial
owners of the Warrants represented by this Warrant Certificate consent by acceptance hereof. Copies of the Warrant Agreement are on file and can be inspected at the office of the Warrant Agent and at
the office of the Company at 591 West Putnam Avenue, Greenwich, Connecticut 06830. Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Warrant
Agreement. 

        No
fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a Warrant would be entitled to receive a fraction of a Share upon any exercise of a Warrant, the
Company shall, upon such exercise, round down to the nearest whole number the number of Shares to be issued to such holder. 

        Upon
any exercise of the Warrant for less than the total number of full Shares provided for herein, there shall be issued to the Registered Holder hereof or its assignee a new Warrant
Certificate covering the number of Shares for which the Warrant has not been exercised. 

        Warrant
Certificates, when surrendered at the office or agency of the Warrant Agent by the Registered Holder hereof in person or by attorney duly authorized in writing, may be exchanged
in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor and
evidencing in the aggregate a like number of Warrants. 

        Upon
due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor
and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement,
without charge except for any applicable tax or other governmental charge. 

        The
Company and the Warrant Agent may deem and treat the Registered Holder as the absolute owner of this Warrant Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the Registered Holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary. 

        This
Warrant does not entitle the Registered Holder to any of the rights of a stockholder of the Company. 

        [The
Company reserves the right to call, at its option, the Warrant at any time prior to its exercise, with a notice of call in writing to the holders of record of the
Warrant, giving thirty (30) days prior written notice of such call at any time after the Warrant becomes exercisable if the last sale price of the Shares has been at least $14.25 per share (the
"Trigger Price") on any twenty (20) trading days within any thirty (30) trading day period ending on the third business day prior to the date on which notice of such call is given (the
"Measurement Period"). The Warrant may not be called unless the Warrant and the Shares are covered by an effective registration statement and a current prospectus from the beginning of the Measurement
Period through the date fixed for the call. The call price of the Warrants is to be $0.01 per Warrant. Any Warrant either not exercised or tendered back to the Company by the end of the date specified
in the notice of call shall be canceled on the books of the Company and have no further value except for the $0.01 call price. The Trigger Price is subject to adjustments as provided in the Warrant
Agreement.](2) 

	(2)
	To
be included only in Warrant Certificates representing Warrants sold in the Company's public offering. 

2

 

        THIS
WARRANT CERTIFICATE AND ALL RIGHTS HEREUNDER AND UNDER THE WARRANT AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED IN AND TO BE PERFORMED IN THAT STATE, INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND THE NEW YORK CIVIL PRACTICE LAWS AND RULES 327(B). 

        This
Warrant Certificate shall not be entitled to any benefit under the Warrant Agreement or be valid or obligatory for any purpose, and no Warrant evidenced hereby may be exercised,
unless this Warrant Certificate has been countersigned by the manual or facsimile signature of the Warrant Agent. 

        IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated
as of                        , 2007 

	 	 	THIRD WAVE ACQUISITION CORP.
	

 	
 	
By:	

    

	 	 	Name:  Barry S. Sternlicht

Title:    Chief Executive Officer

AMERICAN
STOCK TRANSFER & TRUST COMPANY 

	By:	 	    
 Authorized Officer	 

3

 
SUBSCRIPTION
FORM

To Be Executed by the Registered Holder in Order to Exercise Warrants 

The
undersigned Registered Holder irrevocably elects to exercise the right, represented by this Warrant Certificate, to
purchase                        shares of Common Stock and herewith makes payment of the
Exercise Price by [surrendering                        Warrants represented by this Warrant Certificate (with a "Value" of
$                        based on a "Current Market Value" of
$                        )] [paying
$                        in cash], in accordance with the terms of the Warrant Agreement. 

The
undersigned requests that certificates for such shares of Common Stock be registered in the name of: 

(PLEASE
TYPE OR PRINT NAME AND ADDRESS) 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER) 

and
be delivered to 

PLEASE
PRINT OR TYPE NAME AND ADDRESS) 

and,
if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and
delivered to, the Registered Holder at the address stated below: 

Dated:

	 	 	(SIGNATURE)
	

 	
 	

(ADDRESS)
	

 	
 	

(TAX IDENTIFICATION NUMBER)

THE
SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO SECURITIES AND EXCHANGE COMMISSION RULE 17Ad-15). 

4

 
ASSIGNMENT

To Be Executed by the Registered Holder in Order to Assign Warrants 

For
Value Received,                        hereby sells, assigns, and transfers unto 

(PLEASE
TYPE OR PRINT NAME AND ADDRESS) 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER) 

                                of
the Warrants represented by this Warrant Certificate, and hereby irrevocably constitutes and
appoints                        Attorney to transfer this Warrant Certificate on the books of the Company, with full power of
substitution in the premises. 

Dated:

	 	 	(SIGNATURE)

THE
SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO SECURITIES AND EXCHANGE COMMISSION RULE 17Ad-15). 

5

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Exhibit 4.4    
    

 
 

AMENDED AND RESTATED WARRANT AGREEMENT    
    

        THIS AMENDED AND RESTATED WARRANT AGREEMENT (this "Agreement") is made as of the 4th day of January,
2008 between Third Wave Acquisition Corp., a Delaware corporation, with offices at 591 West Putnam Avenue, Greenwich, Connecticut 06830 (the "Company"),
and American Stock Transfer & Trust Company, with offices at 59 Maiden Lane, New York, New York 10038 (the "Warrant Agent"). 

        WHEREAS,
the Company and the Warrant Agent have previously entered into that certain Warrant Agreement dated as of November 16, 2007 (the "Original
Agreement"), and the Company and the Warrant Agent now desire to amend and restate the Original Agreement in its entirety; 

        WHEREAS,
in connection with the Company's formation, the Company issued 10,062,500 units (the "Founder Units") of the Company, each unit
consisting of one share of common stock of the Company, par value $0.001 per share (the "Common Stock"), and one warrant exercisable for one share of
Common Stock, with each warrant evidencing the right of the holder thereof to purchase one share of Common Stock for $7.50 (the "Founder Warrants"),
subject to adjustment as described herein; 

        WHEREAS,
the Company intends to engage in an initial public offering (the "Public Offering") of units (the "Public
Units") of the Company, each unit consisting of one share of Common Stock and one warrant exercisable for one share of Common Stock, with each warrant evidencing the right of
the holder thereof to purchase one share of Common Stock for $7.50 (the "Public Warrants"), subject to adjustment as described herein; 

        WHEREAS,
in connection with the Public Offering, the Company has determined to issue and deliver to the public investors for $10.00 per unit up to 35,000,000 units, plus up to an
additional 5,250,000
units if the underwriters of the Public Offering exercise in full the over-allotment option (the "Over-Allotment Option") to be
granted by the Company pursuant to an underwriting agreement to be entered into among the underwriters and the Company; 

        WHEREAS,
concurrently with the Public Offering, the Company intends to engage in a private offering of 7,800,000 warrants to the "Private
Investors" listed on Exhibit A hereto (the "Sponsor Warrants"), each evidencing the right of the holder thereof to
purchase one share of Common Stock for $7.50, subject to adjustment as described herein; 

        WHEREAS,
in connection with the consummation of a Business Combination (as defined herein), the Company will sell 3,500,000 units to BSS Third Wave Investors LLC and Arrow Third Wave LLC
(the "Co-Investment Units" and, together with the Founder Units and the Public Units, the
"Units"), with each unit consisting of one share of Common Stock and one warrant exercisable for one share of Common Stock, with each warrant evidencing
the right of the holder thereof to purchase one share of Common Stock for $7.50, subject to adjustment, as described herein (the "Co-Investment
Warrants" and, together with the Founder Warrants and the Sponsor Warrants, the "Private Warrants"; the Private Warrants and the
Public Warrants being collectively referred to as the "Warrants"); 

        WHEREAS,
in connection with the Public Offering, the Company has filed with the Securities and Exchange Commission (the "SEC") a
Registration Statement on Form S-1 (the "Registration Statement") for the registration, under the Securities Act of 1933, as amended
(the "Act") of, among other securities, the Public Warrants; 

        WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer,
exchange, call, exercise and cancellation of the Warrants; 

1

 

        WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of
rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and 

        WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the
Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement. 

        NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows: 

1.     APPOINTMENT OF WARRANT AGENT.  

        The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees
to perform the same in accordance with the terms and conditions set forth in this Agreement. 

2.     WARRANTS.  

        2.1    Form of Warrant.    The certificates evidencing the Warrants (the "Warrant
Certificates") to be delivered pursuant to this Agreement shall be issued in registered form only and shall be in substantially the form of Exhibit B attached hereto,
the provisions of which are incorporated herein, and shall be signed by, or bear the facsimile signature of, the Chief Executive Officer or the President of the Company. In the event the person whose
facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same
effect as if he or she had not ceased to be such at the date of issuance. All of the Public Warrants shall initially be represented by one or more book-entry certificates (each a
"Book-Entry Warrant Certificate"). 

        2.2    Uncertificated Warrants.    Notwithstanding anything herein to the contrary, any Warrant issued hereunder may
be issued as part of, and represented by, a Unit, and any Warrant issued hereunder may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company (the "Depository") or other book-entry depositary system, in each case as determined by the Board of Directors of
the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in
accordance with the terms of this Agreement. 

        2.3    Effect of Countersignature.    Unless and until countersigned by the Warrant Agent pursuant to this Agreement,
a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

        2.4    Registration.    

        2.4.1    Warrant Register.    The Warrant Agent shall maintain books (the "Warrant
Register") for the registration of original issuance and the registration of transfers of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue
and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. All of the
Public Warrants shall initially be represented by one or more Book-Entry Warrant Certificates deposited with the Depository and registered in the name of Cede & Co., a nominee of
the Depository. Ownership of beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depository or
its nominee for each Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depository (such institution, with respect to a Warrant in its account, a
"Participant"). 

2

 

        2.4.2    Beneficial Owner; Registered Holder.    The term "beneficial
owner" shall mean, on or after the Detachment Date (as defined below), any person in whose name ownership of a beneficial interest in the Warrants evidenced by a
Book-Entry Warrant Certificate is recorded in the records maintained by the Depository or its nominee, and prior to the Detachment Date, the person in whose name the Unit to which such
Warrant Certificate was initially attached as registered upon the register relating to such Units. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant
Agent may deem and treat the person in whose name such Warrant shall be registered upon the Warrant Register ("Registered Holder") as the absolute owner
of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant Certificate made by anyone other than the Company or the Warrant
Agent), for the purpose of any exercise thereof and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 

        If
the Depository subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding making other
arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the Warrants available in, book-entry form,
the Warrant Agent shall provide written instructions to the Depository to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct
the Warrant Agent to deliver to the Depository definitive Warrant Certificates in physical form evidencing such Warrants. 

        2.5    Detachability of Warrants.    The securities comprising the Units will not be separately transferable until
five business days (or as soon as practicable thereafter) following the earliest to occur of (i) the expiration or termination of the Over-Allotment Option, (ii) the exercise
in full by the underwriters of the Over-Allotment Option and (iii) the underwriters' determination not to exercise all or any remaining portion of the Over-Allotment
Option (the "Detachment Date"), but in no event will separate trading of the securities comprising the Units be allowed until the
Company files a Current Report on Form 8-K (the "Initial 8-K") with the SEC that includes an audited balance sheet
reflecting the receipt by the Company of the gross proceeds of the Public Offering and issuing a press release announcing when such separate trading will begin, and an additional Current Report on
Form 8-K including the proceeds received by the Company from the exercise of the Over-Allotment Option, if the Over-Allotment Option is exercised after the
filing of the Initial 8-K. 

        2.6    Private Warrants.    The Private Warrants shall have the same terms as the Public Warrants, except that
(i) the Founder Warrants will become exercisable after consummation of a Business Combination if and when the last sale price of the Common Stock on the American Stock Exchange, or other
national securities exchange on which the Common Stock may be traded, exceeds $14.25 per share for any twenty (20) trading days within a thirty (30) trading day period after the
consummation of such Business Combination; (ii) no Private Warrant will be redeemable by the Company so long as such Warrant is held by a Private Investor or its Permitted Transferees (as
defined below); (iii) the Sponsor Warrants will not be (and the Common Stock issuable upon exercise of such Warrants will not be) transferable or salable by the Private Investors or their
Permitted Transferees until after the consummation of a Business Combination; and (iv) the Founder Warrants and the Co-Investment Warrants will not be (and the Common Stock issuable
upon exercise of such Warrants will not be) transferable or salable by the Private Investors or their Permitted Transferees until 180 days after the consummation of a Business Combination.
"Permitted Transferees" shall mean the recipient of a Private Warrant through a transfer by any of the Private Investors (w) by gift to a member
of such transferor's immediate family for estate planning purposes or to a trust, the beneficiary of which is the transferor or a member of the transferor's immediate family, (x) if the
transferor is not a natural person, by gift to a member of the immediate family of such transferor's controlling person for estate planning purposes or to a trust, the beneficiary of which is such
transferor's controlling person or a member of the 

3

 

immediate
family of such transferor's controlling person, (y) by virtue of the laws of descent and distribution upon death of transferor, or (z) pursuant to a qualified domestic
relations order; provided, however, that such permitted transfers may be effected only upon the respective transferee's written agreement to be bound by the same transfer restrictions as such Private
Investor upon receiving such Warrants (except in the case of clause (y), in which case the transferee will execute such agreement as soon as practicable after such transfer). 

3.     TERMS AND EXERCISE OF WARRANTS.  

        3.1    Method of Exercise.    A Registered Holder may exercise a Warrant by delivering, not later than
5:00 P.M., New York City time, on any business day during the applicable Exercise Period (the "Exercise Date") to the Warrant Agent at its
corporate trust department (i) the Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the
"Book-Entry Warrants") free on the records of the Depository to an account of the
Warrant Agent at the Depository designated for such purpose in writing by the Warrant Agent to the Depository from time to time, (ii) a subscription form ("Subscription
Form"), properly completed and executed by the Registered Holder on the reverse of the Warrant Certificate or, in the case of a Book-Entry Warrant Certificate,
properly delivered by the Participant in accordance with the Depository's procedures, and (iii) the Warrant Price for each Warrant to be exercised in lawful money of the United States of
America by certified or official bank check or by bank wire transfer in immediately available funds (or, for a Registered Holder exercising the Conversion Right, the documents required pursuant to
Section 3.5). 

        If
any of (A) the Warrant Certificate or the Book-Entry Warrants, (B) the Subscription Form, or (C) the Warrant Price therefor, is received by the
Warrant Agent after 5:00 P.M., New York City time, on the specified Exercise Date, the Warrants will be deemed to be received and exercised on the business day next succeeding the Exercise
Date. If the date specified as the Exercise Date is not a business day, the Warrants will be deemed to be received and exercised on the next succeeding day that is a business day. If the Warrants are
received or deemed to be received after the Expiration Date, the exercise thereof will be null and void and any funds delivered to the Warrant Agent will be returned to the Registered Holder or
Participant, as the case may be, as soon as practicable. In no event will interest accrue on funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. The
validity of any exercise of Warrants will be determined by the Company in its sole discretion and such determination will be final and binding upon the Registered Holder and the Warrant Agent. Neither
the Company nor the Warrant Agent shall have any obligation to inform a Registered Holder of the invalidity of any exercise of Warrants. 

        The
Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in the account of the Company maintained with the Warrant Agent for such purpose and shall advise
the Company at the end of each day on which funds for the exercise of the Warrants are received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephonic
advice to the Company in writing. 

        The
Warrant Agent shall, by 11:00 A.M., New York City time, on the business day following the Exercise Date of any Warrant, advise the Company and the transfer agent and registrar
in respect of (a) the shares of Common Stock issuable upon such exercise as to the number of Warrants exercised in accordance with the terms and conditions of this Agreement, (b) the
instructions of each Registered Holder or Participant, as the case may be, with respect to delivery of the shares of Common Stock issuable upon such exercise, and the delivery of definitive Warrant
Certificates, as appropriate, evidencing the balance, if any, of the Warrants remaining after such exercise, (c) in case of a Book-Entry Warrant Certificate, the notation that shall
be made to the records maintained by the Depository, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance, if any, of the Warrants
remaining after such exercise and (d) such other information as the Company or such transfer agent and registrar shall reasonably require. 

4

 

        The
Company shall, by 5:00 P.M., New York City time, on the third business day next succeeding the Exercise Date of any Warrant and the clearance of the funds in payment of the
Warrant Price, execute, issue and deliver to the Warrant Agent, the shares of Common Stock to which such Registered Holder or Participant, as the case may be, is entitled, in fully registered form,
registered in such name or names as may be directed by such Registered Holder or the Participant, as the case may be. Upon receipt of such shares of Common Stock, the Warrant Agent shall, by
5:00 P.M., New York time, on the fifth business day next succeeding such Exercise Date, transmit such shares of Common Stock to or upon the order of the Registered Holder or Participant, as the
case may be. 

        In
lieu of delivering physical certificates representing the shares of Common Stock issuable upon exercise, provided the Company's transfer agent is participating in the Depository Fast
Automated Securities Transfer program, the Company shall use its reasonable best efforts to cause its transfer agent to electronically transmit the shares of Common Stock issuable upon exercise to the
Registered Holder or the Participant by crediting the account of the Registered Holder's prime broker with the Depository or of the Participant through its Deposit/Withdrawal At Custodian system. The
time periods for delivery described in the immediately preceding paragraph shall apply to the electronic transmittals described herein. 

        The
accrual of dividends, if any, on the shares of Common Stock issued upon the valid exercise of any Warrant will be governed by the terms generally applicable to the shares of Common
Stock. From and after the issuance of such shares of Common Stock, the former holder of the Warrants exercised will be entitled to the benefits generally available to other holders of shares of Common
Stock and such former holder's right to receive payments of dividends and any other amounts payable in respect of the shares of Common Stock shall be governed by, and shall be subject to, the terms
and provisions generally applicable to such shares of Common Stock. 

        The
Company shall not be required to pay any stamp or other tax or governmental charge required to be paid in connection with any transfer involved in the issue of the shares of Common
Stock upon the exercise of Warrants; and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any shares of Common Stock until such tax or other
charge shall have been paid or it has been established to the Company's satisfaction that no such tax or other charge is due. 

        3.2    Warrant Price.    Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder
thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $7.50 per whole share,
subject to the adjustments provided in Section 4 and in the last sentence of this Section 3.2. The term "Warrant Price" as used in this
Agreement refers to the price per share at which Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to
the Expiration Date (as defined below); provided, however, that any change in the Warrant Price must apply identically in percentage terms to all of the Warrants, and provided further that any
reduction in Warrant Price must remain in effect for at least twenty (20) business days. 

        3.3    Duration of Warrants.    A Warrant may be exercised only during the period (the
"Exercise Period") commencing on the later of (i) the completion of an acquisition by the Company of one or more domestic or international
operating businesses or assets through a merger, capital stock exchange, asset or stock acquisition, exchangeable share transaction or other similar business combination having collectively a fair
market value of at least 80% of the balance of the Trust Account (as defined in that certain Investment Management Trust Agreement to be entered into between the Company and American Stock
Transfer & Trust Company, as trustee), net of taxes and amounts permitted to be disbursed for working capital and excluding the deferred underwriting discounts and commissions held in the Trust
Account, at the time of the acquisition (a "Business Combination") and (ii) one year after 

5

 

the
consummation of the Public Offering; and all Warrants shall terminate at 5:00 p.m., New York City time on the earlier to occur of (a) four years after the consummation of the Public
Offering and (b) the date fixed for calling the Warrants as provided in Section 6 of this Agreement (subject to extension in limited circumstances) (the date on which the exercise period
terminates, the "Expiration Date"); provided, however, that (x) the Warrants shall not be exercisable and the Company shall not be obligated to
issue Common Stock in respect thereof unless, at the time a holder seeks to exercise the Warrants, a prospectus relating to the Common Stock issuable upon exercise of the Warrants is current and the
Common Stock underlying the Warrants has been registered or qualified or deemed to be exempt under the securities laws of the state of residence of the holder of the Warrants and (y) in
addition to the exercise conditions set forth in this Section 3.2, the Founder Warrants may only be exercisable following the consummation of a Business Combination if and when the last sale
price of the Common Stock on the American Stock Exchange, or other national securities exchange on which the Common Stock may be traded, exceeds $14.25 per share for any twenty (20) trading
days within a thirty (30) trading day period after the consummation of such Business Combination. Except with respect to the right to receive the Call Price (as set forth in Section 6
hereunder), each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of
business on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that any extension of the duration of
the Warrants must apply equally to all of the Warrants. Should the Company wish to extend the Expiration Date of the Warrants, the Company shall provide advance notice to the American Stock Exchange
or other national securities exchange on which the Common Stock may be traded, and shall, if possible, provide at least two (2) months advance notice to the American Stock Exchange or such
other national securities exchange, but in no event will the Company provide less than twenty (20) days advance notice of such extension to the American Stock Exchange or such other national
securities exchange. 

        3.4    Exercise of Warrants.    

        3.4.1    Payment.    Subject to the provisions of the Warrant (including, but not limited to, the cashless exercise
provisions) and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the Registered Holder thereof by surrendering it, at the office of the Warrant Agent or at the
office of its successor as Warrant Agent, with the subscription form, as set forth in the Warrant, duly executed, and, except as set forth in Section 3.5, by paying in full, in lawful money of
the United States or by certified check or official bank draft payable to the order of the Company (or as otherwise agreed to by the Company), the Warrant Price for each full share of Common Stock as
to which the
Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the Common Stock and the issuance of the Common Stock. 

6

  

        3.4.2    Issuance of Certificates.    As soon as practicable after the exercise of any Warrant and the clearance of
the funds in payment of the Warrant Price, the Company shall issue to the Registered Holder of such Warrant a certificate or certificates evidencing the number of full shares of Common Stock to which
such holder is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant for the number of
shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, any shares of Common Stock issued hereunder may be issued in uncertificated or book-entry form
through the facilities of the Depository or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or by an authorized committee thereof.
Notwithstanding the foregoing, the Company shall not be obligated to deliver any securities pursuant to the exercise of a Warrant, and shall have no obligation to settle the Warrant exercise unless a
registration statement under the Act with respect to the Common Stock underlying the Warrants is effective and a current prospectus is available, subject to the Company satisfying its obligations
under Section 7.4 to use its best efforts. In the event that a registration statement with respect to the Common Stock underlying a Warrant is not effective under the Act or a current
prospectus is not available, the holder of such Warrant shall not be entitled to exercise such Warrant. Notwithstanding anything to the contrary in this Agreement, under no circumstances will the
Company be required to net cash settle the exercise of the Warrants. Warrants may not be exercised by, and securities may not be issued to, any Registered Holder in any jurisdiction in which such
exercise would be unlawful. As a result of the provisions of this Section 3.4.2, any or all of the Warrants may expire unexercised. In no event shall the Registered Holder of a Warrant be
entitled to receive any monetary damages if the shares of Common Stock underlying the Warrants have not been registered by the Company pursuant to an effective registration statement or if a current
prospectus is not available for delivery by the Warrant Agent; provided that the Company has fulfilled its obligation to use its best efforts to effect such registration and ensure a current
prospectus is available for delivery by the Warrant Agent. 

        3.4.3    Valid Issuance.    All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with
this Agreement shall be validly issued, fully paid and nonassessable. 

        3.4.4    Date of Issuance.    Each person in whose name any such certificate for shares of Common Stock is issued
shall for all purposes be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the Warrant Price was made, irrespective of the date
of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become
the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open. 

        3.5    Cashless Exercise.    

        3.5.1    Determination of Amount.    In lieu of the payment of the Warrant Price, a Registered Holder shall have the
right (but not the obligation) to convert any exercisable but unexercised Warrants into shares of Common Stock (the "Conversion Right") as follows: upon
exercise of the Conversion Right, the Company shall deliver to the holder (without payment by the holder of any of the Warrant Price in cash) that number of shares of Common Stock equal to the
quotient obtained by dividing (x) the Value (as defined below) of the Warrants being exercised by (y) the Current Market Value (as defined below). The "Value" of the Warrants being
exercised shall equal the amount derived from subtracting (a) (i) the Warrant Price multiplied by (ii) the number of shares of Common Stock issuable upon exercise of the Warrants being
converted from (b) (i) the Current Market Value of a share of Common Stock multiplied by (ii) the number of shares of Common Stock issuable upon exercise of the Warrants being converted;
provided that if the resulting quotient contains a fraction, such quotient will be rounded down to the nearest whole 

7

 

number.
As used herein, the term "Current Market Value" per share of Common Stock at any date shall mean the average last sale price of the Common Stock
for the ten (10) trading days ending on the third trading day prior to the date on which the Warrant Agent receives the Registered Holder's Subscription Form, as reported in the principal
trading market for the Common Stock or quoted on the NASD OTC Bulletin Board (or its successor entity), as the case may be; provided, that if the fair market value of the Common Stock cannot be so
determined, the "Current Market Value" per share shall be determined by the Board of Directors of the Company, in good faith. 

        3.5.2    Mechanics of Cashless Exercise.    The Conversion Right may be exercised by a Registered Holder during the
Exercise Period by surrendering to the Warrant Agent (i) the Warrant Certificates evidencing the Warrants to be exercised and (ii) a properly completed and duly executed Subscription
Form, exercising the Conversion Right and specifying the total number of shares of Common Stock the Registered Holder will purchase pursuant to such Conversion Right;  provided that any holder that holds
Warrants in a brokerage account shall follow the procedures of such holder's broker and the Depository in order to
exercise the Conversion Right. 

4.     ADJUSTMENTS.  

        4.1    Stock Dividends; Split-Ups.    If after the date hereof, and subject to the provisions of
Section 4.6, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock, or
other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be
increased in proportion to such increase in outstanding shares of Common Stock. 

        4.2    Aggregation of Shares.    If after the date hereof, and subject to the provisions of Section 4.6, the
number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the
effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased
in proportion to such decrease in outstanding shares of Common Stock. 

        4.3    Adjustments in Exercise Price.    Whenever the number of shares of Common Stock purchasable upon the exercise
of the Warrants is adjusted, as provided in Sections 4.1 and 4.2, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the
denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter. 

        4.4    Replacement of Securities upon Reorganization.    In case of any reclassification or reorganization of the
outstanding shares of Common Stock (other than a change covered by Section 4.1 or 4.2 or that solely affects the par value of such shares of Common Stock), or in the case of any merger or
consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or
substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby,
the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a 

8

 

dissolution
following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any
reclassification also results in a change in shares of Common Stock covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this
Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 

        4.5    Notices of Changes in Warrant.    Upon every adjustment of the Warrant Price or the number of shares issuable
upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease,
if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is
based. Upon the occurrence of any event specified in Section 4.1, 4.2, 4.3 or 4.4, then, in any such event, the Company shall give written notice to each Warrant holder, at the last address set
forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such event. 

        4.6    No Fractional Shares.    Notwithstanding any provision contained in this Agreement to the contrary, the Company
shall not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of
such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of the shares of Common Stock to be issued to the
Warrant holder. 

        4.7    Form of Warrant.    The form of Warrant need not be changed because of any adjustment pursuant to this
Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant to this Agreement.
However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant
thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 

        4.8    Extraordinary Dividends.    If the Company, at any time during the Exercise Period, shall pay a dividend or
make a distribution in cash, securities or other assets to the holders of Common Stock (or other shares of the Company's capital stock into which the Warrants are convertible), other than
(w) as described in Section 4.1, 4.2 or 4.4, (x) regular quarterly or other periodic dividends, (y) in connection with the conversion rights of the holders of Common Stock
upon consummation of a Business Combination or (z) in connection with the Company's liquidation and the distribution of its assets upon its failure to consummate a Business Combination (any
such non-excluded event being referred to herein as an "Extraordinary Dividend"), then the Warrant Price shall be decreased, effective
immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Company's Board of Directors, in good faith) of any
securities or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. 

        4.9    Notice of Certain Transactions.    In the event that the Company shall (a) offer to holders of its
Common Stock rights to subscribe for or to purchase any securities convertible into shares of Common Stock or shares of stock of any class or any other securities, rights or options, (b) issue
any rights, options or warrants entitling the holders of Common Stock to subscribe for shares of Common Stock or (c) make a tender offer, redemption offer or exchange offer with respect to the
Common Stock, the Company shall send to the Warrant holders a notice of such action or offer. Such notice shall be mailed to the Registered Holders at their addresses as they appear in the Warrant
Register, which shall specify the record date for the purposes of such dividend, distribution or rights, or the date such issuance or event is to take place and the date of participation therein by
the holders of Common 

9

 

Stock,
if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Stock and on the number and kind of any other shares of stock and on other property, if any,
and the number of shares of Common Stock and other property, if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this
Section 4 which would be required as a result of such action. Such notice shall be given as promptly as practicable after the Company has taken any such action. 

        4.10    Adjustments to Co-Investment Warrants.    For the purposes of the adjustments set forth in this
Section 4, the Co-Investment Warrants shall be treated as issued and outstanding from and after the consummation of the Public Offering. 

5.     TRANSFER AND EXCHANGE OF WARRANTS.  

        5.1    Transfer of Warrants.    Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only
together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on
the register relating to such Unit shall operate also to transfer the Warrant included in such Unit. From and after the Detachment Date this Section 5.1 will have no further force and effect. 

        5.2    Registration of Transfer.    The Warrant Agent shall register the transfer, from time to time, of any
outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for
transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so
cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request. 

        5.3    Procedure for Surrender of Warrants.    Warrants may be surrendered to the Warrant Agent, together with a
written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so
surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant Certificate, each
Book-Entry Warrant Certificate may be transferred only in whole and only to the Depository, to another nominee of the Depository, to a successor depository, or to a nominee of a successor
depository; provided, further, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in
exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive
legend. 

        5.4    Fractional Warrants.    The Warrant Agent shall not be required to effect any registration of transfer or
exchange which will result in the issuance of a warrant certificate for a fraction of a warrant. 

        5.5    Service Charges.    No service charge shall apply to any holder of Warrants for any exchange or registration of
transfer of Warrants. 

        5.6    Warrant Execution and Countersignature.    The Warrant Agent is hereby authorized to countersign and to
deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant
Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

6.     CALL.  

        6.1    Call.    Subject to Section 6.4, not less than all of the outstanding Warrants may be called, at the
option of the Company, at any time after they become exercisable and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of
$.01 per 

10

 

Warrant
(the "Call Price"), provided that (i) the last sale price of the Common Stock on the American Stock Exchange, or other national
securities exchange on which the Common Stock may be traded, has been at least $14.25 per share (the "Trigger Price") on each of twenty
(20) trading days within any thirty (30) trading day period ending on the third business day prior to the date on which notice of the call is given (the
"Measurement Period") and (ii) the Public Warrants and the Common Stock underlying such Warrants are covered by an effective registration
statement and a current prospectus is available from the beginning of the Measurement Period through the date fixed for the call; provided, further, that with respect to the Private Warrants, such
call right shall not be applicable so long as such Warrants are held by any of the Private Investors or their Permitted Transferees. 

        6.2    Call Date; Notice of Call.    In the event the Company shall elect to call all of the Warrants, the Company
shall fix a date for the call, which date shall be prior to the expiration of the Warrants (the "Call Date"). Notice of the call shall be mailed by
first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the date fixed for the call to the Registered Holders of the Warrants to be called at their last
addresses as they shall appear in the Warrant Register. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given on the date sent whether or not the
Registered Holder received such notice. In the event of any adjustment to the Warrant Price or the number of shares of Common Stock issuable on exercise of each Warrant as provided in
Section 4, a proportional adjustment shall be made to the Trigger Price. 

        6.3    Exercise after Notice of the Call.    The Warrants may be exercised for cash at any time after notice of the
call shall have been given by the Company pursuant to Section 6.2 and prior to the Call Date. On and after the Call Date, the record holder of the Warrants shall have no further rights except
to receive, upon surrender of the Warrants, the Call Price. 

        6.4    Outstanding Warrants Only.    The Company understands that the call rights provided for in this
Section 6 apply only to outstanding Warrants. To the extent a person holds rights to purchase Warrants, such purchase rights shall not be extinguished by the call. However, once such purchase
rights are exercised, the Company may call the Warrants issued upon such exercise provided that the criteria for the call set forth in Section 6.1 are met. 

7.     OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANTS.  

        7.1    No Rights as Stockholder.    A Warrant does not entitle the Registered Holder thereof to any of the rights of a
stockholder of the Company, including, without limitation, receiving dividends or other distributions, exercising any preemptive rights to vote or to consent or to receive notice as stockholders in
respect of the meetings of stockholders or the election of directors of the Company or any other matter. 

        7.2    Lost, Stolen, Mutilated, or Destroyed Warrants.    If any Warrant is lost, stolen, mutilated or destroyed, the
Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof),
issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the
Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone. 

        7.3    Reservation of Common Stock.    The Company shall at all times reserve and keep available a number of its
authorized but unissued shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

        7.4    Registration of Common Stock.    The Company agrees that, prior to the commencement of the Exercise Period, it
shall file with the SEC a new registration statement, for the registration under the Act of, and it shall take such action as is necessary to qualify for sale, in those states in which the 

11

 

Public
Warrants were initially offered by the Company, the Common Stock issuable upon exercise of the Public Warrants. In either case, the Company will use its best efforts to cause the same to become
effective on or prior to the commencement of the Exercise Period and use its best efforts to maintain the effectiveness of such registration statement and ensure that a current prospectus is on file
with the SEC until the expiration of the Warrants in accordance with the provisions of this Agreement; provided, however, that the Company shall not be obligated to deliver securities, and shall not
have penalties for failure to deliver securities, if a registration statement is not effective or a current prospectus is not on file with the SEC at the time of exercise by the holder. 

        7.5    Delivery of Prospectus or Notice.    Upon the exercise of any Warrant, if the Company requests, the Warrant
Agent shall deliver to the Holder of such Warrant, prior to or concurrently with the delivery of the shares of Common Stock issued upon such exercise, in accordance with the Company's request, either
(i) a prospectus relating to the shares of Common Stock deliverable upon exercise of Warrants and complying in all material respects with the Act or (ii) the notice referred to in
Rule 173 under the Act. 

8.     CONCERNING THE WARRANT AGENT AND OTHER MATTERS.  

        8.1    Payment of Taxes.    The Company will from time to time promptly pay all taxes and charges that may be imposed
upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes
in respect of the Warrants or such shares of Common Stock. 

        8.2    Resignation, Consolidation or Merger of Warrant Agent.    

        8.2.1    Appointment of Successor Warrant Agent.    The Warrant Agent, or any successor to it hereafter appointed, may
resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days' notice in writing to the Company. If the office of the Warrant Agent becomes
vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such
appointment within a period of sixty (60) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such
notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a
successor Warrant Agent at the Company's cost. 

        Any
successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York in good standing and
having its principal office in the Borough of Manhattan, City and State of New York, and shall be authorized under such laws to exercise corporate trust powers and subject to supervision or
examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant
Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, rights, immunities, duties and obligations of such
predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent, the Company shall make, execute, acknowledge and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties and obligations. 

        8.2.2    Notice of Successor Warrant Agent.    In the event a successor Warrant Agent shall be appointed, the Company
shall give notice thereof to the predecessor Warrant Agent, Deutsche 

12

 

Bank
Securities Inc., as representative of the several underwriters (the "Representative"), and the transfer agent for the Common Stock not later
than the effective date of any such appointment. 

        8.2.3    Merger or Consolidation of Warrant Agent.    Any corporation into which the Warrant Agent may be merged or
with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement,
without any further act or deed. 

        8.3    Fees and Expenses of Warrant Agent.    

        8.3.1    Remuneration.    The Company agrees to pay the Warrant Agent reasonable remuneration for its services as
Warrant Agent hereunder and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

        8.3.2    Further Assurances.    The Company agrees to perform, execute, acknowledge and deliver or cause to be
performed, executed, acknowledged and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of
the provisions of this Agreement. 

        8.4    Liability of Warrant Agent.    

        8.4.1    Reliance on Company Statement.    Whenever in the performance of its duties under this Agreement, the Warrant
Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer, President or Chairman of the Board
of Directors of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this
Agreement. 

13

  

        8.4.2    Indemnity.    The Warrant Agent shall be liable hereunder only for its own negligence, willful misconduct or
bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted
by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent's negligence, willful misconduct or bad faith. 

        8.4.3    Exclusions.    The Warrant Agent shall have no responsibility with respect to the validity of this Agreement
or with respect to the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in
this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4 or responsible for the manner, method or amount of any such
adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock will, when issued, be valid and fully paid
and nonassessable. 

        8.5    Acceptance of Agency.    The Warrant Agent hereby accepts the agency established by this Agreement and agrees
to perform the same upon the terms and conditions herein set forth and, among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for and
pay to the Company all moneys received by the Warrant Agent for the purchase of shares of Common Stock through the exercise of Warrants. 

        8.6    Waiver.    The Warrant Agent 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. 

9.     MISCELLANEOUS PROVISIONS.  

        9.1    Successors.    All the covenants and provisions of this Agreement by or for the benefit of the Company or the
Warrant Agent shall bind and inure to the benefit of their respective successors and assigns. 

        9.2    Notices.    Any notice or other communication required or which may be given hereunder shall be in writing and
shall be sent by certified or registered mail, by private national courier service (return receipt requested, postage prepaid), by personal delivery or by facsimile transmission. Such notice or
communication shall be deemed given (a) if mailed, two business days after the date of mailing, (b) if sent by national courier service, one business day after being sent, (c) if
delivered personally, when so delivered, or (d) if sent by facsimile transmission, on the second business day after such facsimile is transmitted, in each case as follows: 

if
to the Warrant Agent, to: 

American
Stock Transfer & Trust Company

59 Maiden Lane

New York, New York 10038

Attn: George Karfunkel

Fax: (718) 331-1852 

14

 

if
to the Company, to: 

Third
Wave Acquisition Corp.

591 West Putnam Avenue

Greenwich, Connecticut 06830

Attn: Barry S. Sternlicht, Chief Executive Officer

Fax: (203) 422-7700 

if
to the Representative, to: 

Deutsche
Bank Securities Inc.

60 Wall Street

New York, New York 10005

Attn: Syndicate Manager

Fax: (212) 797-9344 

with
a copy to: 

Debevoise &
Plimpton LLP

919 Third Avenue

New York, New York 10022

Attn: Peter J. Loughran, Esq.

Fax: (212) 909-6836 

in
each case with a copy to: 

Skadden,
Arps, Slate, Meagher & Flom LLP

300 South Grand Avenue, Suite 3400

Los Angeles, California 90071

Attn: Gregg A. Noel, Esq.

Fax: (213) 687-5600 

        9.3    Applicable Law.    This Agreement and the Warrants shall be governed by, and construed in accordance with, the
laws of the State of New York applicable to contracts executed in and to be performed in that State, including, without limitation, Sections 5-1401 and 5-1402 of the New York
General Obligations Law and the New York Civil Practice Laws and Rules 327(b). The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to
this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and the Company irrevocably submits to
such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process
or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set
forth in Section 9.2. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. 

        9.4    Waiver of Trial by Jury.    Each party hereto 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 Private Investors in the negotiation, administration, performance or enforcement hereof. 

        9.5    Persons Having Rights under this Agreement.    Nothing in this Agreement expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders of the
Warrants and, for the purposes of Sections 2.6, 6.1, 6.4, 7.4 and 9.2, the Representative, 

15

 

any
right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed to be third-party
beneficiaries of this Agreement with respect to Sections 2.6, 6.1, 6.4, 7.4 and 9.2. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole
and exclusive benefit of the parties hereto (and the Representative with respect to Sections 2.6, 6.1, 6.4, 7.4 and 9.2) and their successors and assigns and the Registered Holders of the Warrants. 

        9.6    Examination of this Agreement.    A copy of this Agreement shall be available at all reasonable times at the
office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for examination by the Registered Holder of any Warrant. Prior to such examination, the Warrant Agent may require
any such holder to submit his Warrant for inspection by it. 

        9.7    Counterparts.    This Agreement may be executed in any number of original or facsimile counterparts and each of
such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. This Agreement or any counterpart may be
executed via facsimile or electronic mail transmission, and any such executed facsimile or electronic mail copy shall be treated as an original. 

        9.8    Effect of Headings.    The section headings herein are for convenience only and are not part of this Agreement
and shall not affect the interpretation hereof. 

        9.9    Amendments.    This Agreement may be amended by the parties hereto without the consent of any Registered Holder
for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein, or adding or changing any other provisions with respect to matters or
questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders. All other
modifications or amendments, including, but not limited to, any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent of each of the Representative
and the Registered Holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period in
accordance with Sections 3.2 and 3.3 without such consent. 

[Remainder of page intentionally left blank]

16

        IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written. 

	 	 	THIRD WAVE ACQUISITION CORP.
	

 	
 	

By:	

/s/  MATTHEW EBY      

	 	 	 	Name:	Matthew Eby
	 	 	 	Title:	Chief Financial Officer
	

 	
 	

AMERICAN STOCK TRANSFER & TRUST COMPANY
	

 	
 	

By:	

/s/  HERBERT J. LEMMER      

	 	 	 	Name:	Herbert J. Lemmer
	 	 	 	Title:	Vice President

[Amended and Restated Warrant Agreement] 

Exhibit A  

 
 

Private Investors    

BSS
Third Wave Investors LLC

Arrow Third Wave LLC

Harald Ludwig

Hamilton South

Strauss Zelnick 

QuickLinks

Exhibit 4.4

AMENDED AND RESTATED WARRANT AGREEMENT

Private Investors

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