Document:

Exhibit 4.5 

WARRANT AGREEMENT

     Agreement made as
of  [_____], 2006  between
Churchill Ventures Ltd., a Delaware corporation, with offices at 50
Revolutionary Road, Scarborough, New York 10510 (“Company”), and Continental
Stock Transfer & Trust Company, a New York corporation,  with offices at 17 Battery Place, New York,
New York 10004 (“Warrant Agent”).

     WHEREAS, the Company has
determined to issue and deliver to Churchill Capital Partners LLC, a Delaware
limited liability company (“CCP”) in a private placement 4,000,000
Warrants (the “Sponsor Warrants”), each of such Sponsor Warrants evidencing
the right of the holder thereof to purchase one share of common stock, par
value $0.001 per share of the Company (the “Common Stock”) for $1.00, subject to adjustment
as provided herein; 

     WHEREAS, the Company is
engaged in a public offering (“Public Offering”) of Units  (“Units”)
and, in connection
therewith,  has determined to
issue and deliver up to 13,750,000
Warrants (the “Public Warrants” and, together with the
Sponsor Warrants, the “Warrants”) to the public investors, each
of such Public Warrants evidencing the right of the holder thereof to purchase
one share of Common Stock, for $6.00, subject to adjustment as described
herein; and

     WHEREAS, the Company has
filed with the Securities and Exchange Commission a Registration Statement, No.
333-135741 on  Form  S-1 (“Registration Statement”) for the  registration,  under the Securities Act of 1933, as
amended (“Act”),
of, among other  securities,  the Warrants and the Common Stock issuable
upon exercise of the Warrants; and

     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, redemption exercise and
cancellation of the Warrants; and

     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 a Warrant Agent.  The Company
hereby appoints the Warrant Agent to act as agent for the Company with respect
to 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.  Each Warrant shall be
issued in registered form only, shall be in substantially the form of Exhibit
A hereto, the provisions of which are incorporated herein and  shall be signed by, or bear the facsimile
signature of, the Chairman of the Board or President and Treasurer or Secretary
of the Company and shall bear a facsimile of the Company’s seal.  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.

          2.2          Effect
of Countersignature.  Unless and
until countersigned by the Warrant Agent in accordance with this Agreement, a
Warrant shall be invalid and of no effect and may not be exercised by the
holder thereof.

          2.3          Registration.

                         2.3.1
Warrant Register.  The Warrant
Agent shall maintain books (“Warrant Register”), for the registration
of original issuance and the registration of transfer 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.

                         2.3.2
Registered Holder.  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.

                         2.3.3
Detachability of Warrants. The securities comprising the Units will
begin separate trading five business days following the earlier to occur of (i)
expiration or termination of the underwriter’s over-allotment option or (ii)
the exercise in full of the over-allotment option (the “Detachment Date”), subject
in either case to filing by the Company of a Current Report on Form 8-K
with the Securities and Exchange Commission containing 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.

                         2.3.4
Sponsor Warrants. The Sponsor Warrants shall have the same terms and be
in the same form as the Public Warrants except with respect to the
transferability of the Warrants as set forth in Section 5.1.2 and the
redemption of the Warrants as set forth in Section 6.6. 

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3.          Terms
and Exercise of Warrant.

             3.1
Warrant Price.  Each Public
Warrant shall, when countersigned by the Warrant Agent, entitle the registered
holder thereof, subject to the provisions of such Public Warrant and of this
Warrant Agreement, to purchase from the Company the number of shares of Common
Stock stated therein, at the price of $6.00 per whole share, subject to the
adjustments provided in Section 4 hereof and in the last sentence of this
Section 3.1. Each Sponsor Warrant shall, when countersigned by the Warrant
Agent, entitle the registered holder thereof, subject to the provisions of such
Sponsor Warrant and of this Warrant Agreement, to purchase from the Company the
number of shares of Common Stock stated therein, at the price of $1.00 per
whole share, subject to adjustments provided in Section 4 hereof and the last
sentence of this Section 3.1  The term “Warrant
Price” as used in this Warrant Agreement refers to the price per
whole 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
for a period of not less than 10 business days; provided, that any such
reduction shall apply equally to all the Warrants.

             3.2
Duration of Warrants.  A Warrant
may be exercised only during the period (“Exercise Period”) commencing on the later
of (i) the consummation by the Company of a merger, capital stock exchange,
stock purchase, asset acquisition or other similar business combination having
collectively, a fair market value (as calculated in accordance with the
requirements set forth in the Company’s Certificate of Incorporation) of at
least 80% of the Company’s net assets (excluding the underwriter’s deferred
discount) at the time of such acquisition (“Business
Combination”) (as described more fully in the Company’s  Registration  Statement)  and (ii)  [_________], 2007, and
terminating at 5:00
p.m., New York City time on the earlier to occur of (a) [________],  2010 or (b) the date fixed for  redemption
of the Warrants as provided in Section 6 of this Agreement (“Expiration
Date”).   Except with respect to the right to
receive  the  Redemption  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 the Company will provide notice to
registered holders of the Warrants of such extension of not less than 20 days;
provided, further, that any such extension shall be identical in duration among
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 as required by the American Stock
Exchange.

             3.3  Exercise of
Warrants.

                         3.3.1
Payment.  Subject to the
provisions of the Warrant and this Warrant
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,  in the Borough of
Manhattan, City and State of New York, with the subscription form, as set forth
in the Warrant, duly executed, and by paying in full, in lawful money of the
United States, in cash, good certified check or good bank draft payable to the
order of the Company (or as otherwise agreed to by the Company) or by cashless
exercise (as set forth 

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in the Warrant), the Warrant  Price for each whole 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.  

                         3.3.2
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 (if applicable), the Company shall issue
to the registered holder of such Warrant a certificate or certificates for the
number of full shares of Common Stock to which he, she or it 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, 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 is effective.

                         3.3.3.
 Limitations.  Notwithstanding the foregoing, the Company
shall not be obligated to deliver any Shares pursuant to the exercise of a
Warrant and shall have no obligation to settle the Warrant exercise unless a
registration statement under the Securities Act of 1933, as amended (the “Securities
Act”), with respect to the Shares is effective and a current
Prospectus is on file with the Commission. In the event that a registration
statement with respect to the Shares underlying a Warrant is not effective
under the Securities Act or a current Prospectus is not on file with the
Commission, the holder of such Warrant, including for the avoidance of doubt,
the Sponsor Warrants, shall not be entitled to exercise such Warrant.
Notwithstanding anything to the contrary in this Warrant Agreement, under no
circumstances will the Company be required to net cash settle the Warrant
exercise. Warrants may not be exercised by, or Shares issued to, any registered
holder in any state in which such exercise or issuance would be unlawful. For
the avoidance of doubt, as a result of this Section 3.3.3, 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 Common Stock underlying the Warrants have not been
registered by the Company pursuant to an effective registration statement or if
a current Prospectus is available for delivery by the Warrant Agent, provided
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. Warrants may not be exercised by, or securities issued to, any
registered holder in any state in which such exercise would be unlawful. The
shares of common stock issuable upon exercise of Sponsor Warrants shall be
unregistered shares. In the event that a registration statement is not
effective for the exercised Warrants, the purchaser of a unit containing such
Warrant, will have paid the full purchase price for the unit solely for the
shares included in such unit. 

                         3.3.4
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.

                         3.3.5
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

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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.

4. Adjustments.

          4.1.1
Stock Dividends; Split-Ups.  If
after the date hereof, and subject to the provisions of Section 4.6 below, 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.

          4.1.2
Extraordinary Dividend.  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 Sections 4.1.1, 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 the
Company’s initial Business Combination (as such term is used in the
Registration Statement) 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.

          4.2
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 Warrant Price. Whenever the number of shares of Common
Stock purchasable upon the exercise of the Warrants is adjusted, as provided in
Section 4.1.1 and 4.2 above, 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.

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          4.4  Replacement of Securities Upon
Reorganization, etc. In case of any reclassification or reorganization of
the outstanding shares of Common Stock (other than a change covered by Section
4.1.1 or 4.2 hereof 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
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 Sections 4.1.1, 4.1.2, 4.2, 4.3 or
4.4, then, in any such event, the Company shall give written notice to the
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 Warrant 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 will elect,
upon exercise, to either (i) round up to the nearest whole number the number of
shares of Common Stock to be issued to the holder or (ii) pay out the
fractional interest in cash.  

          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

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exchange or substitution for an outstanding Warrant or
otherwise, may be in the form as so changed.

5. Transfer and Exchange of Warrants.

          5.1
Transfer of Warrants.  

                         5.1.1          Transfer
of Public Warrants.  Prior to the
Detachment Date, the Public Warrants may be transferred or exchanged only
together with the Unit in which such Public 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 issued in the Public Offering
or a Unit issued to the Partners or in the private placement on the register
relating to such Units shall operate also to transfer the Warrants included in
such Unit.  From and after the
Detachment Date this Section 5.1 will have no further force and effect.  

                         5.1.2.          Transfer
of Sponsor Warrants.  Prior to the
completion of a Business Combination, the Sponsor Warrants may not be
transferred or sold by CCP other than to members of the Company’s management
team, but the transferees receiving such Sponsor Warrants must first agree to be
subject to the same transfer and sale restrictions imposed on CCP.   

          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.
Upon any such registration of transfer, the Company shall execute, and
the Warrant Agent shall countersign and deliver, in the name of the designated
transferee a new Warrant Certificate or Warrant Certificates of any authorized
denomination evidencing in the aggregate a like number of unexercised Warrants.

          5.2
         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 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.

          5.3          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.

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          5.4          Service
Charges.  No service charge shall be
made for any exchange or registration of transfer of Warrants.

          5.5          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. Redemption.

          6.1          Redemption.
 Subject to Sections 6.4 and 6.5 hereof, not
less than all of the outstanding Warrants may be redeemed, 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
Warrant (“Redemption
Price”), provided that the last sales price of the Common  Stock has been at least $11.50 per share
(subject to proportionate adjustment to reflect adjustment to the Warrant Price
as provided in Section 4.3), for any twenty (20) trading days within a thirty
(30) trading day period ending on the third
business day prior to the date on which notice of redemption is given.

          6.2          Date
Fixed For, and Notice of, Redemption.
In the event the Company shall elect to redeem all of the Warrants, the
Company shall fix a date for the redemption, which date shall be prior to the
expiration of the Warrants (the “Redemption Date”).  Notice of redemption shall be mailed by
first class mail, postage prepaid, by the Company not less than 30 days prior
to the date fixed for redemption to the registered holders of the Warrants to
be redeemed at their last addresses as they shall appear on the Warrant
Register. Any notice mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the registered holder received
such notice.

          6.3          Exercise
After Notice of Redemption.  The
Warrants may be exercised in accordance with Section 3 of this Agreement at
any  time after notice of redemption
shall have been given by the Company pursuant to Section 6.2 hereof and prior
to the time and date fixed for redemption. On and after the Redemption Date,
the record holder of the Warrants shall have no further rights except to
receive, upon surrender of the Warrants, the Redemption Price.

          6.4          Outstanding
Warrants Only. The Company understands that the redemption rights provided
for by 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 redemption.  However,
once such purchase rights are exercised, the Company may redeem the Warrants
issued upon such exercise provided that the criteria for redemption are met.

          6.5          Exclusion
of Sponsor Warrants. The Sponsor Warrants shall not be subject to
redemption.

7. Other Provisions Relating to Rights of Holders
of Warrants.

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          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,  the right to receive dividends, or other
distributions, exercise 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 use its best efforts to prepare and file with the
Securities and Exchange Commission (the “Commission”) a post-effective amendment to
the Registration Statement, or a new registration  statement,  for the
registration under the Act of, and it shall use its best efforts to take such
action as is necessary to qualify for sale,
in those states in which the
Warrants  were  initially
offered by the  Company,  the Common Stock issuable upon exercise of
the 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 shall use its best efforts
to maintain the effectiveness of such registration statement and insure that a
current Prospectus is on file with the Commission 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 Common Stock, and shall not
have penalties nor be liable to the Warrant holder for failure to deliver
Common Stock pursuant to Section 3, if a registration statement is not
effective or a current Prospectus is not on file with the Commission at the
time of exercise of the Warrant 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 Common Stock issued upon such
exercise, in accordance with the Company’s request, either (i) a prospectus
relating to the Shares deliverable upon exercise of Warrants and complying in
all material respects with the Securities Act (the “Prospectus”) 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 

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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.

          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 30 days after it has been notified in writing of
such resignation or incapacity by the Warrant Agent or by the holder of the
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 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,
and rights 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 and the transfer
agent for the Common Stock not later than the effective date of any such
appointment. 

                         8.2.3
Merger of 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.

          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

10

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 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 Warrant 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 President or Chairman of
the Board 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.

                         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
hereof 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
the Company’s Common Stock through the exercise of Warrants.

11

         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 (as defined in that certain Investment
Management Trust Agreement, dated as of the date hereof, by and between the
Company and JPMorgan Chase Bank, NA as trustee thereunder), 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, statement or demand authorized
by this Warrant Agreement  to be given
or made by the  Warrant  Agent
or by the  holder  of any Warrant to or on the Company shall be
sufficiently given when so delivered if by hand or overnight  delivery or if sent by  certified mail or private courier service
within five days after deposit of such
notice, postage  prepaid,
addressed (until another address is filed in writing by the Company  with the Warrant Agent), as follows:

	
 

	
 

	
 

	
Churchill Ventures Ltd.

  50 Revolutionary Road

  Scarborough, New York 10510

  Attn: Chairman

Any notice, statement or demand authorized by this
Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently
given when so delivered if by hand or overnight  delivery or if sent by certified mail or
private courier service within five days after deposit of such notice,  postage
prepaid,  addressed (until
another address is filed in writing by the Warrant Agent with the Company), as
follows:

	
 

	
 

	
 

	
 

	
Continental Stock Transfer & Trust

  Company

  17 Battery Place

  New York, New York 10004

  Attn: Compliance Department

  

  with a copy in each case to:

	
 

	
 

	
 

	
 

	

	
 

	
 

	

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
and

	
 

12

	
 

	
 

	
 

	
 

	

	
 

	
 

	

	
 

	
 

	

	
 

                       9.3          Applicable
Law. The validity, interpretation, and performance of this Agreement and of
the Warrants shall be governed in all respects by the laws of the State of New
York applicable to contracts formed and to be formed entirely within the State
of New York, without giving effect to conflict of law provisions thereof to the
extent such principles or rules would require or permit the application of the
laws of another jurisdiction.  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  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 inconvenience 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 hereof. Such mailing shall be deemed personal service and shall be legal
and binding upon the Company in any action, proceeding or claim.

                       9.4          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, any right,  remedy, or claim under or by reason of this
Warrant Agreement or of any covenant, condition, stipulation,  promise, or agreement  hereof.
All covenants, conditions, stipulations, promises, and agreements
contained in this Warrant Agreement shall be for the sole and exclusive benefit
of the parties hereto and their successors and assigns and of the registered
holders of the Warrants.

                       9.5          Examination
of the Warrant 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 inspection by the registered
holder of any Warrant.  The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

                       9.6          Counterparts.
 This Agreement may be executed in any number
of 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.

                       9.7          Effect
of Headings.  The Section headings
herein are for convenience only and are not part of this Warrant Agreement and
shall not affect the interpretation thereof.

                       9.8          Amendments.
This Agreement and the warrant certificate issued hereunder may be amended by
the parties hereto without the consent of any registered holder for the purpose
of curing any ambiguity, or of 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

13

modifications or amendments, including any amendment
to increase the Warrant Price or shorten the Exercise Period, shall require the
written consent of the registered holders of a majority of the then outstanding
Warrants and no modification or amendment shall affect the Sponsor Warrants and
the Public Warrants differently from one another.  Notwithstanding the foregoing, the Company may lower the Warrant
Price or extend the duration of the Exercise Period in accordance with Sections
3.1 and 3.2, respectively, without such consent. 

*   *   *

14

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

	
 

	
 

	
 

	
 

	
 

	
Attest:

	
 

	
CHURCHILL VENTURES LTD.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
 

	

	
 

	
 

	
 

	
 

	
          Name:

	
 

	
 

	
 

	
 

	
          Title:

	
 

	
 

	
 

	
 

	
 

	
 

	
Attest:

	
 

	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
 

	

	
 

	
 

	
 

	
 

	
          Name:
  Steven Nelson

	
 

	
 

	
 

	
 

	
          Title:
  ChairmanExhibit 10.1 

July 6, 2006

Churchill Ventures Ltd.

50 Revolutionary Road

Scarborough, New York 10510

Deutsche Bank Securities Inc.

60 Wall Street, NYC60-1015

New York, NY 10005

          Re:        INITIAL
PUBLIC OFFERING

Gentlemen:

          The
undersigned officer and director of Churchill Ventures Ltd., a Delaware
corporation (the “Company”), in consideration of Deutsche Bank Securities Inc. (“Deutsche Bank”)
entering into a letter of
intent (the “Letter of Intent”) to underwrite an initial public offering (the “IPO”) of the
Company’s units
(the “Units”),
each composed of one share of the Company’s common stock, par value $.001 per
share (the “Common
Stock”), and one warrant which is exercisable for one share of
Common Stock (a “Warrant”) and embarking on the IPO process, hereby agrees as follows (certain capitalized terms
used herein are defined in
paragraph 12 hereof):

          1.          If
the Company solicits approval of its stockholders of a Business Combination,
the undersigned will vote all his Insider Shares in accordance with the
majority of the votes cast by the holders of the IPO Shares.  The undersigned hereby waives any and all
rights to convert his Insider Shares in connection with a Business Combination.  If the Company solicits approval of its
stockholders for dissolution and a plan of distribution of assets, the
undersigned will vote all shares of common stock owned by him in favor of such
plan. 

          2.          In
the event that the Company fails to consummate a Business Combination within
(i) 18 months from the effective date (“Effective Date”) of the
registration statement relating to the IPO (the “Registration Statement”) or
(ii) 24 months after the Effective Date, if a letter of intent,
agreement in principle or definitive agreement has been executed with respect
to a Business Combination within 18 months after the Effective Date, but
the Business Combination has not been consummated within such 18 month
period (the date of the first such failure to occur, the “Transaction Failure Date”),
the undersigned will take all reasonable actions within his or its power to
(i) cause the Trust Account to be liquidated and distributed to the
holders of the IPO Shares as soon as practicable and (ii) cause the
Company to dissolve and liquidate as soon as practicable (the earliest date on
which the conditions in clauses (i) and (ii) are both satisfied being the
“Liquidation
Date”).  The undersigned
agrees, (i) if the Company seeks approval of the Company’s stockholders to
consummate a Business Combination more than 18 months after the date of the
IPO, the undersigned will vote to adopt and recommend to the Company’s
stockholders a plan of distribution to be included in the proxy statement
related to the Business Combination and such proxy statement will seek
stockholder approval for

1

dissolution and a plan of distribution in the event
the Company’s stockholders do not approve the Business Combination, and
(ii) if no proxy statement seeking the approval of the Company’s
stockholders for a Business Combination has been filed more than 18 months
after the date of the IPO (unless the date has been extended), the undersigned
shall vote to adopt and recommend to the Company’s stockholders the Company’s
dissolution.  The undersigned hereby
waives any and all right, title, interest or claim of any kind in or to any
distributions of the trust account with JPMorgan Chase Bank, NA (the “Trust
Account”), or to any other amounts distributed in connection with a
liquidating distribution of the Company including with respect to his Insider
Shares (“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.   

          3.          The
undersigned agrees to indemnify and hold harmless the Company, jointly and
severally with the other officers of the Company, against any and all loss,
liability, claims, damage and expense whatsoever (including, but not limited
to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened,
or any claim whatsoever) to which the Company may become subject as a result of
(i) any claim by any vendor or other person who is owed money by the
Company for services rendered or products sold, or (ii) any claim by any
prospective target that the Company did not pay or reimburse such target for
the fees and expenses of third party providers of services (such as
accountants, consultants and attorneys) to the target that the Company agreed
in writing with the target to be liable for, in accordance with the terms of
such agreement, if such person or entity does not provide a valid and enforceable
waiver to rights or claims to the Trust Account so as to ensure that the
proceeds in the Trust Account are not reduced by the claims of such persons
that are owed money by the Company for services rendered or products sold to
the Company, but in each case only to the extent necessary to ensure that such
loss, liability, claim, damage or expense does not reduce the amount in the
Trust Account (or, in the event that such claim arises after the distribution
of the Trust Account, to the extent necessary to ensure that the Company’s
former stockholders, other than the officers of the Company, are not liable for
any amount of such loss, liability, claim, damage or expense).

          4.          The
undersigned acknowledges and agrees that the Company will not consummate any
Business Combination which involves a company which is affiliated with any of
the Insiders unless the Company obtains an opinion from an independent
investment banking firm reasonably acceptable to Deutsche Bank that the
business combination is fair to the Company’s stockholders from a financial
perspective.

          5.          Neither
the undersigned, any member of the family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any
compensation for services rendered to the Company prior to the consummation of
the Business Combination; provided, that until the earlier of (i)
the completion of the Business Combination and (ii) dissolution of the Company,
Churchill Capital Partners LLC, a Delaware limited liability company (the “Related
Party”), shall be entitled to a fee of $7,500 per month, to
compensate it for the Company’s use of the Related Party’s offices, utilities
and personnel.  The Related Party and
the undersigned shall also be entitled to reimbursement from the Company for
their out-of-pocket expenses incurred in connection with seeking and
consummating a Business 

2

Combination. In addition, the Related Party has
advanced to the Company a loan of $240,000, which shall be used to pay a
portion of the expenses related to the IPO.
The loan is due and payable on the consummation of the IPO and will be
repaid out of the net proceeds of the IPO not placed in the trust account.

          6.          Neither
the undersigned, any member of the family of the undersigned, nor any Affiliate
of any of the foregoing will be entitled to receive and will not accept a
finder’s fee or any other compensation from the Company or any other person or
entity in the event the undersigned, any member of the family of the
undersigned or any Affiliate of any of the foregoing originates a Business
Combination.

          7.          The
undersigned agrees that his Insider Shares will be subject to restrictions on
sale or other transfer until the earlier of one year following the date of the
Business Combination; dissolution of the Company; or the consummation of a
liquidation, merger, stock exchange or other similar transaction which results
in all stockholders having the right to exchange their shares of common stock
for cash, securities or other property subsequent to consummating a Business
Combination with a target business.

          8.          The
undersigned shall not, with respect to those Insider Shares and Sponsor
Warrants owned directly or indirectly by him, (i) sell, offer to sell, contract
or agree to sell, hypothecate, pledge, grant any option to purchase or
otherwise dispose of or agree to dispose of, directly or indirectly, or file
(or participate in the filing of) a registration statement with the Securities
and Exchange Commission in respect of, or establish or increase a put
equivalent position or liquidate or decrease a call equivalent position within
the meaning of Section 16 of the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Securities and Exchange Commission
promulgated thereunder with respect to, any shares of Common Stock, the Sponsor
Warrants, the shares of Common Stock issuable upon exercise of the Sponsor
Warrants or any securities convertible into or exercisable or exchangeable for
shares of Common Stock or such Sponsor Warrants or other rights to purchase
shares of Common Stock or any such securities, (ii) enter into any swap or
other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of shares of Common Stock or Sponsor
Warrants, the shares of Common Stock issuable upon exercise of the Sponsor
Warrants or any securities convertible into or exercisable or exchangeable for
shares of Common Stock or such Sponsor Warrants or other rights to purchase
shares of Common Stock or any such securities, whether any such transaction is
to be settled by delivery of shares of Common Stock or such other securities,
in cash or otherwise, or (iii) publicly announce an intention to effect any
transaction specified in clause (i) or (ii) until with respect to his Insider
Shares and Sponsor Warrants, one year following the consummation of the
Business Combination (the “Lock-Up Period”).  Notwithstanding the foregoing, the
undersigned may transfer his Insider Shares and Sponsor Warrants during the
Lock-Up Period (i) by gift to a member of the undersigned’s immediate family or
to a trust, the beneficiary of which is a member of an undersigned’s immediate
family, an affiliate of the undersigned or to a charitable organization, (ii)
by virtue of the laws of descent and distribution upon death of the
undersigned, (iii) pursuant to a qualified domestic relations order, or (iv) in
the event of a liquidation of the Company prior to a Business Combination or
the consummation of a liquidation, merger, capital stock exchange, stock
purchase, asset acquisition or other similar transaction which results in all
the Company’s 

3

stockholders having the right to exchange their shares
of Common Stock for cash, securities or other property subsequent to the
Company’s consummating a Business Combination with a target business; provided,
however,
that the permissive transfers pursuant to clauses (i) - (iii) may be
implemented only upon the respective transferee’s written agreement to be bound
by the terms and conditions of this letter agreement, including with respect to
the voting requirements pertaining to the Insider Shares and Sponsor
Warrants.  During the Lock-Up Period,
the undersigned shall not grant a security interest in his Insider Shares and
Sponsor Warrants.

          9.          The
undersigned agrees to be the Chairman and director of the Company.  The undersigned’s biographical information
furnished to the Company and Deutsche Bank and attached hereto as Exhibit A
is true and accurate in all respects, does not omit any material information
with respect to the undersigned’s background and contains all of the
information required to be disclosed pursuant to Section 401 of Regulation S-K,
promulgated under the Securities Act of 1933.
The undersigned’s Questionnaire furnished to the Company and Deutsche
Bank and annexed as Exhibit B hereto is true and accurate in all
respects.  The undersigned represents
and warrants that:

                       (a)          he
is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any
act or practice relating to the offering of
securities in any jurisdiction;

                       (b)          he
has never been convicted of or pleaded guilty to any crime:  (i) involving any fraud or (ii) relating to
any financial  transaction or handling
of funds of another person, or (iii) pertaining to any dealings in any
securities and he is not currently a defendant in any such criminal  proceeding; and

                       (c)          he
has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license
or registration denied, suspended or revoked.

          10.        The
undersigned has full right and power, without violating any agreement by which
he is bound, to enter into this letter agreement and to serve as Chairman and
director of the Company, except that the undersigned is a director and
executive chairman of Neilsen BuzzMetrics Ltd. (“Neilsen”).  The undersigned may have a conflict of
interest as he has fiduciary obligations to Neilsen.  The undersigned will present opportunities in Neilsen’s narrow
field of business of measuring and analyzing the content that consumers publish
to public internet sites such as blogs and message boards first to Neilsen
before presenting it to the Company.

          11.        The
undersigned authorizes any employer, financial institution, or consumer credit
reporting agency to release to Deutsche Bank and its legal representatives or
agents (including any investigative search firm retained by Deutsche Bank) any
information they may have about the undersigned’s background and finances (the
“Information”).  Neither Deutsche Bank nor its agents shall
be violating the undersigned’s right of privacy in any manner in requesting and
obtaining the Information and the undersigned hereby releases them from
liability for any damage whatsoever in that connection.

4

          12.          As
used herein, (i) a “Business Combination” shall mean the
initial acquisition or concurrent acquisitions, as the case may be, by the
Company, whether by merger, capital stock exchange, stock purchase, asset
acquisition or other similar business combination, of an operating business or
businesses, as the case may be, in the communications, media or technology
industries; (ii) “Insiders” shall mean all officers, directors and
stockholders of the Company immediately prior to the IPO; (iii) “Insider
Shares” shall mean all of the shares of Common Stock of the Company
owned by an Insider prior to the IPO; (iv) “IPO Shares” shall mean the shares of
Common Stock issued in the Company’s IPO; and (v) “Sponsor Warrants” shall mean warrants to purchase 4,000,000
shares of Common Stock that shall be purchased by the Related Party from the
Company at a price of $1.00 per warrant, for a total of $4 million, in a
private placement prior to completion of the IPO. 

          13.          The
undersigned acknowledges and understands that the Company will rely upon the
agreements, representations and warranties set forth herein in proceeding with
the IPO.  Nothing contained herein shall
be deemed to render the Underwriters a representative of, or a fiduciary with
respect to, the Company, its stockholders, or any creditor or vendor of the
Company with respect to the subject matter hereof.

          14.          This
letter agreement shall be binding on the undersigned and such person’s
respective successors, heirs, personal representatives and assigns.  This letter agreement shall terminate on the
earlier of (i) the consummation of the Business Combination and
(ii) the Liquidation Date; provided that such termination shall not
relieve the undersigned from liability for any breach of this agreement prior
to its termination and provided, further that Section 3
of this letter agreement shall survive a termination pursuant to
clause (ii).

          15.          This
letter agreement shall be governed by and interpreted and construed in
accordance with the laws of the State of New York applicable to contracts
formed and to be performed entirely within the State of New York, without
regard to the conflicts of law provisions thereof to the extent such principles
or rules would require or permit the application of the laws of another
jurisdiction.

[Signature page follows]

5

          The undersigned hereby executes this letter agreement
as of July 6, 2006.

	
 

	
 

	
 

	

	
 

	
Itzhak Fisher

6

EXHIBIT A

Itzhak
Fisher has served as our executive Chairman and a director
since our inception.  Mr. Fisher is an
active entrepreneur and private investor and, since 2000, has invested his own
capital into a variety of ventures in the communications and technology
sectors.  From 2000 until November 2003,
Mr. Fisher’s primary investment vehicle was Infinity Holdings (Cayman) Ltd.
(and, prior to July 2001, its predecessor, Infinity Holdings Group Inc.), of
which he was Chairman and which he owned in conjunction with Mr.
Tarlovsky. Through Infinity, Mr. Fisher invested in more than twenty
different companies in the communications and technology sectors, including
Sorbie Europe B.V., the holding company of PSINet Europe B.V., a European
internet company and data solutions provider of which Mr. Fisher was a director
from December 2003 to August 2006, and Trendum Ltd., the predecessor to Neilsen
Buzzmetrics, an internet company that measures and analyzes the content which
consumers publish to public internet sites such as blogs and message boards.
 Mr. Fisher became a director and Co-Chairman of Trendum Ltd. upon
Infinity’s investment in Trendum in November 2003 and continued in that
position until January 2005 when he became executive Chairman.  In February 2006, VNU NV became the majority
owner of Trendum, which was renamed Neilsen BuzzMetrics Ltd., of which Mr.
Fisher continues to serve as a director and executive Chairman. In
November 2003, Mr. Fisher began investing through a new private investment
vehicle, Pereg LLC, which he owns in conjunction with his wife. In
addition to his private investment activity, Mr. Fisher is also a member of the
telecommunications advisory board to New Mountain Capital LLC, an investment
fund since January 2005, and is a director and Chairman of Kemlink USA Inc., a
petrochemical trading firm since September 2004, and was, from January 2000 to
January 2005 a member of the management advisory board to New Mountain Capital
I, LLC, was from 1999 to present a member of the advisory board to the Lehman
Brothers Communications Fund LP, and was from 2000 to November 2004 a member of
the advisory board to Ruukki Group Oyj (formerly, A Company Finland Oyj), a
Finnish telecommunications and technology investment fund. From 1994
until 2000, Mr. Fisher was the founder, Chairman and Chief Executive Officer of
RSL Communications, Ltd. (NASDAQ:
RSLC), a multinational telecommunications company.  From 1992 until 1994, Mr. Fisher was the
founder and general manager of Clalcom, an Israeli telecom company.  From 1990 until 1992, Mr. Fisher was an
executive at Bezeq, the Israeli incumbent telecom provider.  Mr. Fisher is a former Treasurer of the
Likud Party of Israel.

7

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