Document:

Unassociated Document

    Exhibit
      10.15

     

    WARRANT
      PURCHASE AGREEMENT 

     

    WARRANT
      PURCHASE AGREEMENT (this “Agreement”) made as of this ___________day of
      _________, 2008 among Hambrecht Asia Acquisition Corp., a Delaware corporation
      (the “Company”) and the undersigned (the “Purchasers”).

     

    WHEREAS,
      the Company has filed with the Securities and Exchange Commission (the “SEC”) a
      registration statement on Form S-1, as amended (File No. 333-146147) (the
“Registration Statement”), in connection with the Company’s initial public
      offering (the “IPO”) of 4,000,000 units (the “Units”), each unit consisting of
      one of the Company’s ordinary shares, $0.001 par value (the “Ordinary Shares”),
      and (ii) one warrant (the “Warrants”), each warrant to purchase one Ordinary
      Share; and

     

    WHEREAS,
      immediately prior to the consummation of the IPO, the Company desires to sell
      in
      a private placement to the Purchasers (the “Placement”) an aggregate of 750,000
      warrants (the “Placement Warrants”) substantially identical to the Warrants
      being issued in the IPO pursuant to the terms and conditions hereof and as
      set
      forth in the Registration Statement, except that the Placement Warrants to
      be
      issued in the Placement shall not be registered under the Securities Act of
      1933, as amended (the “Securities Act”); and

     

    WHEREAS,
      each Purchaser desires to acquire the number of Placement Warrants set forth
      opposite his name on Schedule A hereto; and

     

    WHEREAS,
      except as provided herein, the Placement Warrants shall be governed by the
      Warrant Agreement filed as an exhibit to the Registration Statement;
      and

     

    WHEREAS,
      the Purchasers are entitled to registration rights with respect to the Placement
      Warrants and the Ordinary Shares underlying the Placement Warrants (the
“Underlying Shares”) on the terms set forth in this Agreement;

     

    NOW,
      THEREFORE, for and in consideration of the premises and the mutual covenants
      hereinafter set forth, the parties hereto do hereby agree as
      follows:

     

    1. Purchase
      of Placement Warrants.
      The
      Purchasers hereby agree, directly or through their nominees, to purchase an
      aggregate of 750,000 Placement Warrants at a purchase price of $1.00 per
      Placement Warrant, or an aggregate of $750,000 (the “Purchase Price”). Such
      purchases shall be in the names and amounts set forth on Schedule A
      hereto.

     

    2. Closing.
      The
      closing of the purchase and sale of the Placement Warrants (the “Closing”) will
      take place at such time and place as the parties may agree (the “Closing Date”),
      but in no event later than one business day prior to the closing date (the
“IPO
      Closing Date”) of the IPO. On or prior to the IPO Closing Date, the Purchasers
      shall pay the Purchase Price by wire transfer of funds to Loeb & Loeb,
      outside counsel for the Company. On the Closing Date, the Company shall cause
      Loeb & Loeb to transfer the Purchase Price to the trust account at JPMorgan
      Chase NY Bank, maintained by Continental Stock Transfer & Trust Company,
      acting as trustee (the “Trust Account”). The certificates for the Placement
      Warrants shall be placed into escrow pursuant to the Securities Escrow Agreement
      dated __________, 2008 by and among Continental and the other signatories
      thereto.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    3. Representations
      and Warranties of the Purchasers.
      Each
      Purchaser hereby represents and warrants to the Company that:

     

    3.1 The
      execution and delivery by the Purchasers of this Agreement and the fulfillment
      of and compliance with the respective terms hereof by the Purchasers do not
      and
      shall not as of the Closing
      conflict with or result in a breach of the terms, conditions or provisions
      of
      any other agreement, instrument, order, judgment or decree to which Purchasers
      are subject to. 

     

    3.2 The
      Purchaser is an “accredited investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the Securities Act.

     

    3.3 The
      Placement Warrants are being acquired for the Purchaser’s own account, only for
      investment purposes and not with a view to, or for resale in connection with,
      any distribution or public offering thereof within the meaning of the Securities
      Act.

     

    3.4 The
      Purchaser has the full right, power and authority to enter into this Agreement
      and this Agreement is a valid and legally binding obligation of the Purchaser
      enforceable against the Purchaser in accordance with its terms.

     

    3.5 The
      Purchaser understands that no United States federal or state agency or any
      other
      government or governmental agency has passed on or made any recommendation
      or
      endorsement of the securities or the fairness or suitability of the investment
      in the securities nor have such authorities passed upon or endorsed the merits
      of the offering of the securities.

     

    4. Registration
      Rights.
      The
      Purchasers shall have registration rights pursuant to the Registration Rights
      Agreement, dated as of _____________, 2008, by and among the Company and the
      Investors listed on the signature page thereto.

     

    5. Waiver
      of Claims Against Trust Account.
      Each
      Purchaser hereby waives any and all right, title, interest or claim of any
      kind
      in or to any distributions from the Trust Account with respect to any Ordinary
      Shares acquired by the Purchaser in connection with the exercise of the
      Placement Warrants purchased pursuant to this Agreement ("Claim") and hereby
      waives any Claim the undersigned may have in the future as a result of, or
      arising out of, any contracts or agreements with the Company and will not seek
      recourse against the Trust Account for any reason whatsoever.

     

    6. Legends;
      Denominations

     

    6.1 Legend.
      The
      Company will issue the Placement Warrants, and when issued the Underlying
      Shares, purchased by Purchaser in the name of Purchaser and in such
      denominations to be specified by Purchaser. The Placement Warrants and
      Underlying Shares will bear the following legend and appropriate "stop transfer"
      instructions:

    

    “THE
      SECURITIES
      REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
      AS
      AMENDED (THE “SECURITIES 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
      UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER
      THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS
      CORPORATION, IS AVAILABLE.”

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “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).” 

     

    7. Forfeiture
      of Warrants.

     

    7.1. Failure
      to Consummate Business Combination.
      The
      Placement Warrants shall be forfeited to the Company in the event the Company
      does not consummate a business combination within 18, 24 or 36 months from
      the
      date of the final prospectus relating to the Company’s IPO, as described in the
      Registration Statement.

     

    7.2. Termination
      of Rights as holder; Escrow.
      If the
      Placement Warrants are forfeited in accordance with this Section 7, then after
      such time the Purchaser (or successor in interest), shall no longer have any
      rights as a holder of such Placement Warrants, and the Company shall take such
      action as is appropriate to cancel such Placement Warrants. To effectuate the
      foregoing, all certificates representing Placement Warrants shall be held in
      escrow as provided in Section 2 hereof. In addition, Purchaser hereby
      irrevocably grants the Company a limited power of attorney for the purpose
      of
      effectuating the foregoing.

     

    8. Waiver
      and Indemnification.
      Each
      Purchaser hereby waives any and all rights to assert any present or future
      claims, including any right of rescission, against the Company or the
      underwriters in the IPO with respect to their purchase of the Placement
      Warrants, and each Purchaser agrees jointly and severally to indemnify and
      hold
      the Company and the underwriters in the IPO harmless from all losses, damages
      or
      expenses that relate to claims or proceedings brought against the Company or
      such underwriters by Purchasers of the Placement Warrants.

     

    9. Counterparts;
      Facsimile.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and all of which taken together
      shall
      constitute one and the same instrument. This Agreement or any counterpart may
      be
      executed via facsimile transmission, and any such executed facsimile copy shall
      be treated as an original.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    10. Governing
      Law.
      This
      Agreement shall for all purposes be deemed to be made under and shall be
      construed in accordance with the laws of the State of New York. Each of the
      parties 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 irrevocably submits to such jurisdiction,
      which jurisdiction shall be exclusive. Each of the parties hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum.

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the ____day
      of  ___________, 2007.

     

    
      	 	 	 
	 	
              HAMBRECHT
                ASIA ACQUISITION CORP.

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    

    
      	 	 	 
	 	
              PURCHASERS:

            
	 	 
	 	
              AEX
                ENTERPRISES LIMITED

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    

    

      	 	 	 
	 	
              
                W.R.
                  HAMBRECHT + CO., LLC

              

            
	 
 	 
 	 
 
	
            	By: 	
            
	 	
              

              Name:
                

            
	 	
              Title:
                

            

    

    
      
        
          
            
              
                

                  	 	 	 
	 	
                          
                            HAMBRECHT
                              1980 REVOCABLE TRUST

                          

                        
	 
 	 
 	 
 
	
                        	By: 	
                        
	 	
                          

                          Name:
                            

                        
	 	
                          Title:
                            

                        

                

                
                  

                    	 	 	 
	 	
                            
                              SHEA
                                VENTURES LLC

                            

                          
	 
 	 
 	 
 
	
                          	By: 	
                          
	 	
                            

                            Name:
                              

                          
	 	
                            Title:
                              

                          

                  

                  
                    
                      

                        	 	 	 
	 	
                                
                                  
                                    MARBELLA
                                      CAPITAL PARTNERS LTD.

                                  

                                

                              
	 
 	 
 	 
 
	
                              	By: 	
                              
	 	
                                

                                Name:
                                  

                              
	 	
                                Title:
                                  

                              

                      

                       

                    

                  

                

              

            

          

        

      

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      A

     

    
      
        
        

      

      
        5Unassociated Document

     

    Exhibit
      10.16

     

    RIGHT
      OF FIRST REFUSAL AND

     

    CORPORATE
      OPPORTUNITIES AGREEMENT

     

    This
      Right of First Refusal and Corporate Opportunities Agreement (this “Agreement”)
      is made as of ___________, 2008 by and between Hambrecht Asia Acquisition Corp.,
      a Cayman Islands company (the “Company”) and ___________ (the “Granting
      Company”) in connection with the Company’s proposed initial public offering (the
“IPO”) of units pursuant to a registration statement on Form S-1 (as amended,
      the “Registration Statement”), filed by the Company with the United States
      Securities and Exchange Commission.

     

    WHEREAS,
      certain officers and directors of the Company are also officers and directors
      of
      the Granting Company; and

     

    WHEREAS,
      each of the Company and the Granting Company may be seeking business
      opportunities in the People’s Republic of China, and the parties hereto desire
      to enter into this Agreement to clarify the business opportunities for which
      each party shall have a right of first refusal.

     

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

     

    1. Right
      of First Refusal.

     

    a. Grant
      of Right.
      For the
      term specified in Section 2 hereof, the Granting Company agrees to grant to
      the
      Company (i) in its certificate of incorporation or equivalent document or (ii)
      by written action of its board of directors and/or shareholders, as may be
      required under applicable law governing the Granting Company, expressly for
      the
      benefit of the Company (in either event, the “Granting Company Document”), a
      right of first refusal to any corporate opportunities belonging to it that
      may
      constitute a suitable Business Combination (as defined herein) for the Company.
      Specifically, the
      Granting Company shall refuse to review or consider any investment or
      acquisition opportunity in a business or businesses the Company may deem to
      be a
      Business Combination, as determined by the officer or director of the Granting
      Company that is also an officer or director of the Company until after the
      Company has rejected such opportunity. The Granting Company will not enter
      into
      any agreement to purchase or invest in such business or businesses until after
      the Company has rejected such opportunity. Decisions
      by the Company to release the Granting Company to pursue any corporate
      opportunity concerning a Business Combination will be made by a majority of
      the
      Company’s disinterested directors.

     

    b. Scope
      of Right
      . As
      used herein, the term “Business Combination” shall
      mean an acquisition by the Company, by merger, stock exchange, asset
      acquisition, reorganization or similar business combination, or control through
      contractual arrangements, of an operating business or businesses in the People’s
      Republic of China
      (each a
“Target”). Notwithstanding the above, the term “Business Combination” shall not
      include any company with respect to which the Granting Company has initiated
      any
      contacts or entered into any discussions, formal or informal, or negotiations
      regarding a company being acquired by the Granting Company prior to the date
      hereof.

     

    c. General.
      Any
      partner, principal, director, officer or employee of the Granting Company that
      shall become aware of a corporate opportunity relating to a Target shall provide
      written notice of the opportunity to the Company within five (5) business days
      of its identification of the corporate opportunity. The Granting Company further
      agrees it will not enter into any agreement to purchase or invest in a Target
      until the Company has had a reasonable period of time to determine whether
      or
      not to pursue the opportunity. The provisions of this Section (c) shall be
      set
      forth in the Granting Company Document.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Term.
      This
      Agreement shall become effective upon execution and shall remain in effect
      for a
      period expiring upon the earlier of: (i) the consummation by the Company of
      a
      Business Combination or (ii) the Company’s dissolution and liquidation, each in
      the circumstances and in the manner described in the Registration Statement
      (the
“Term”).

     

    3. Notices.
      All
      notices or communications hereunder shall be in writing, addressed as
      follows:

     

    To
      the
      Company:

     

    Hambrecht
      Asia Acquisition Corp.

    13/F
      Tower 2

    New
      World
      Tower

    18
      Queens
      Road Central

    Hong
      Kong

    Attn:
      John Wang, Chief Executive Officer

     

    with
      a
      copy to:

     

    Mitchell
      Nussbaum

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

     

    If
      to the
      Granting Company:

     

    [contact
      information]

     

    with
      a
      copy to:

     

    [contact
      information]

     

    with
      a
      copy to:

    

    Broadband
      Capital Management

    712
      Fifth
      Avenue, 49th Floor

    New
      York,
      NY 10019

    Attn:
      T.
      Corby Hocker

    

    with
      a
      copy to:

    

    Douglas
      Ellenoff 

    Ellenoff
      Grossman & Schole LLP

    370
      Lexington Avenue

    New
      York,
      NY 10017

     

    4. Headings.
      The
      headings contained herein are for the sole purpose of convenience of reference,
      and shall not in any way limit or affect the meaning or interpretation of any
      of
      the terms or provisions of this Agreement.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5. Severability.
      If any
      provision of this Agreement shall be declared to be invalid or unenforceable,
      in
      whole or in part, such invalidity or unenforceability shall not affect the
      remaining provisions hereof, which shall remain in full force and
      effect.

     

    6. Amendment.
      This
      Agreement may only be amended by a written instrument executed by each of the
      parties hereto. Notwithstanding the foregoing, this Agreement may not be amended
      to provide for its termination prior to the expiration of the Term without
      the
      approval of the affirmative vote of a majority of the Company’s ordinary shares
      purchased in the IPO.

     

    7. Survival.
      The
      respective rights and obligations of the parties hereunder shall survive any
      termination of this Agreement to the extent necessary to the intended
      preservation of such rights and obligations. The provisions of this
      Section 7 are in addition to the survivorship provisions of any other
      section of this Agreement.

     

    8. Waiver
      Against Trust Account.
      Granting
      Company hereby (a) waives any and all right, title, interest or claim of any
      kind (a “Claim”) in or to all funds held in the trust account established for
      the benefit of the public shareholders of the Company (“Trust Account”) and any
      remaining net assets of the Company upon liquidation of the Trust Account and
      dissolution of the Company, (b) waives any Claim the Granting Company may have
      in the future as a result of, or arising out of, any contracts or agreements
      with the Company and (c) agrees it will not seek recourse against the Trust
      Account for any reason whatsoever.

     

    9. Entire
      Agreement.
      This
      Agreement (together with the other agreements and documents being delivered
      pursuant to or in connection with this Agreement) constitutes the entire
      agreement of the parties hereto with respect to the subject matter hereof and
      thereof, and supersedes all prior agreements and understandings of the parties,
      oral and written, with respect to the subject matter hereof.

     

    10. Governing
      Law, Venue, etc.

     

    a. 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 the conflict of laws
      principles thereof. The parties: (i) agree that any legal suit, action or
      proceeding arising out of or relating to this agreement and/or the transactions
      contemplated hereby shall be instituted exclusively in New York Supreme Court,
      County of New York, or in the United States District Court for the Southern
      District of New York, (ii) waive any objection which such party may have now
      or
      hereafter to the venue of any such suit, action or proceeding and (iii)
      irrevocably and exclusively consent to the jurisdiction of the New York Supreme
      Court, County of New York, and the United States District Court for the Southern
      District of New York in any such suit, action or proceeding arising out of
      this
      Agreement.

     

    b. The
      parties further agree to accept and acknowledge service of any and all process
      which may be served in any such suit, action or proceeding in the New York
      Supreme Court, County of New York, or in the United States District Court for
      the Southern District of New York and agrees service of process upon the Company
      mailed by certified mail to the Company’s address shall be deemed in every
      respect effective service of process upon the Company in any such suit, action
      or proceeding, and service of process upon mailed by certified mail to the
      Granting Company addresses shall be deemed in every respect effective service
      process upon the parties, in any such suit, action or proceeding arising out
      of
      this Agreement.

     

    c. THE
      PARTIES HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED
      UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS
      CONTEMPLATED BY THIS AGREEMENT.

     

    11. Execution
      in Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which shall be deemed to be
      an
      original, but all of which taken together shall constitute one and the same
      agreement, and shall become effective when one or more counterparts has been
      signed by each of the parties hereto and delivered to each of the other parties
      hereto. Delivery of a signed counterpart of this Agreement by fax or email/.pdf
      transmission shall constitute valid and sufficient delivery
      thereof.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    12. Waiver,
      etc.
      The
      failure of any of the parties hereto to at any time enforce any of the
      provisions of this Agreement shall not be deemed or construed to be a waiver
      of
      any such provision, nor to in any way effect the validity of this Agreement
      or
      any provision hereof or the right of any of the parties hereto to thereafter
      enforce each and every provision of this Agreement. No waiver of any breach,
      non-compliance or non-fulfillment of any of the provisions of this Agreement
      shall be effective unless set forth in a written instrument executed by the
      party or parties against whom or which enforcement of such waiver is sought;
      and
      no waiver of any such breach, non-compliance or non-fulfillment shall be
      construed or deemed to be a waiver of any other or subsequent breach,
      non-compliance or non-fulfillment.

     

    13. Third
      Party Beneficiaries.
      The
      parties hereto hereby acknowledge that the underwriters of the IPO, including,
      without limitation, Broadband Capital Management (“Broadband”), are third party
      beneficiaries of this Agreement and this Agreement may not be modified or
      changed without the prior written consent of Broadband. 

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      first specified above.

     

    
      	 	 	 
	 	
              HAMBRECHT
                ASIA ACQUISITION CORP.

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    
      	 	
              [NAME]

            
	 	 	 
	 	 	 
	
            	By:  	
            
	 	
              

              Name:

            
	 	
              Title:

            

    

     

    
      
        
        

      

      
        4

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