Document:

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This investment management trust agreement (“Agreement”)
is made as of __________ __, 2012 by and between Pacific Monument Acquisition Corporation (the “Company”), a Delaware
corporation located at 800 Third Avenue, New York, New York 10022, and Continental Stock Transfer & Trust Company (“Trustee”), a New York located at 17
Battery Park, New York, New York 10004.

 

WHEREAS, the Company’s registration statement
on Form S-1, No. 333-178749 (“Registration Statement”) for its initial public offering of securities (“IPO”)
has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange Commission (the
“Commission”) (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration
Statement); and

 

WHEREAS, Morgan Joseph TriArtisan LLC (“MJTA”)
is acting as the representative of the several underwriters in the IPO pursuant to an underwriting agreement (the “Underwriting
Agreement”); and

 

WHEREAS, simultaneously with the IPO, the Company’s
initial stockholders will be purchasing an aggregate of 2,666,667 warrants (“Insider Warrants”) from the Company for
an aggregate purchase price of $2,000,000 and MJTA will be purchasing an aggregate of 266,667 warrants (“MJTA Warrants”
and together with the Insider Warrants, the “Private Placement Warrants”) from the Company for an aggregate purchase
price of $200,000; and

 

WHEREAS, as described in the Registration Statement,
and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $40,000,000 of the net proceeds
of the IPO and sale of the Private Placement Warrants ($45,850,000 if the underwriters over-allotment option is exercised in full)
will be delivered to the Trustee to be deposited and held in a trust account (“Trust Account”) for the benefit of
the Company and the holders of the Company’s common stock, par value $.0001 per share (“Common Stock”), issued
in the IPO as hereinafter provided and in the event the Units are registered in Colorado, pursuant to Section 11-51-302(6) of
the Colorado Revised Statutes. A copy of the Colorado Statute is attached hereto and made a part hereof (the aggregate amount
to be delivered to the Trustee will be referred to herein as the “Property”; the shareholders for whose benefit the
Trustee shall hold the Property will be referred to as the “Public Shareholders,” and the Public Stockholders and
the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS, pursuant to certain provisions in the
Company’s Certificate of Incorporation, the Public Stockholders may, regardless of how such stockholder votes in connection
with the Company’s initial merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses or entities (a “Business Combination”), demand the Company redeem
such Public Stockholder’s Common Stock into cash or redeem such Common Stock pursuant to a tender offer pursuant to the
Rule 13e-4 and Regulation 14E of the Commission, as applicable and based upon the Company’s choice of proceeding under the
proxy rules or tender offer rules, each as promulgated by the Commission;

 

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

 

Now therefore,
IT IS AGREED:

 

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

 

(a)          Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement, including the terms of Section 11-51-302(6)
of the Colorado Statue, in Trust Accounts which shall be in a segregated trust account (“Trust Account”) established
by the Trustee at J.P. Morgan Chase Bank N.A. and at a brokerage institution selected by the Trustee that is reasonably satisfactory
to the Company;

 

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

 

(c)          In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property in U.S. government treasury bills
with maturity of 180 days or less, or in money market funds investing solely in U.S. Treasuries and meeting certain conditions
under meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, as determined
by the Company;

 

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

 

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

 

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

 

(g)          Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
by the Company to do so;

 

(h)          Render
to the Company and MJ and to such person as the Company may instruct, monthly written statements of the activities of and amounts
in the Trust Account reflecting all receipts and disbursements of the Trust Account; and

 

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(i)          Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter
(“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B,
signed on behalf of the Company by its Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary and
affirmed by counsel for the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust
Account only as directed in the Termination Letter (which, in the case of Exhibit A, requires joint instructions from the Company
and MJTA) and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not
been received by the Trustee by the 21-month anniversary of the closing of the IPO (“Closing”), the Trust Account shall be liquidated as soon as practicable thereafter in accordance with the procedures set
forth in the Termination Letter attached as Exhibit B hereto and distributed to the Public Stockholders of record. The provisions
of this Section 1(i) may not be modified, amended or deleted under any circumstances.

 

2.          Limited
Distributions of Income from Trust Account.

 

(a)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested
by the Company to cover any income or other tax obligation owed by the Company.

 

(b)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested
by the Company to cover expenses related to investigating and selecting a target business and other working capital requirements;
provided, however, that the Company will not be allowed to withdraw interest income earned on the Trust Account
unless there is an amount of interest income available in the Trust Account sufficient to pay the Company’s tax obligations
on such interest income or otherwise then due at that time.

 

(c)          Upon
written request from the Company, which may be given from time to time as described in the Registration Statement, in a form substantially
similar to that attached as Exhibit E, the Trustee shall distribute to the Company the amount necessary for it to purchase up
to 800,000 shares of Common Stock (or up to 920,000 shares of Common Stock if the over-allotment option in the IPO is exercised
in full (in either case, such amount being referred to as the “Maximum Amount”)), at prices (including commissions)
not to exceed the per share amount then held in the Trust Account (such amount being referred to as the “Maximum Price”)).

 

(d)          The
limited distributions referred to in Sections 2(a) and 2(b) above shall be made only from income collected on the Property while
the limited distributions referred to in Section 2(c) above shall be made from the Property itself. Except as provided in Section
2(a), 2(b) and 2(c) above, no other distributions from the Trust Account shall be permitted except in accordance with Section
1(i) hereof.

 

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(e)          The
Company shall provide MJTA with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee
with respect to any proposed withdrawal from the Trust Account promptly after such issuance; provided, however, that the Company
shall provide MJTA with a copy of any Termination Letter in the form of Exhibit A one day prior to delivery to the Trustee.

 

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

 

(a)          Give
all instructions to the Trustee hereunder in writing or the electronic equivalent, signed by the Company’s Chairman of the
Board, Chief Executive Officer or Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i),
2(a), 2(b) and 2(c) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal, electronic
or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized above to
give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b)          Subject
to the provisions of Section 6(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against, any
and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any
claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with
any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the
Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee's gross
negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of
any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section, it shall notify
the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have
the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not
agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

(c)          Pay
the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections
2(a), 2(b) and 2(c) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to
time. It is expressly understood that the Property shall not be used to pay such fees and further agreed that any fees owed to
the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Section 1(i) solely in connection
with the consummation of a Business Combination, or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance
fee and first year’s fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

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

 

(e)          In
connection with the Trustee acting as Paying/Disbursing Agent pursuant to Exhibit B, not give the Trustee any disbursement instructions
which would be prohibited under this Agreement.

 

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

 

(a)          Take
any action with respect to the Property, other than as directed in Sections 1 and 2 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b)          Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of
any kind with respect to, any of the Property unless and until it shall have received written instructions from the Company given
as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident
thereto;

 

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

 

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

 

(e)          Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f)          The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, judgment, instruction, notice, demand, certificate, opinion
or advice of counsel (including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not
only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which is believed by the Trustee, in good faith, to be genuine and to be signed or presented
by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee
signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior
written consent thereto;

 

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

 

(h)          File
local, state and/or Federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property.

 

(i)          Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section
2(a) hereof).

 

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

 

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

 

5.          Termination.
This Agreement shall terminate as follows:

 

(a)          If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee during which time the Trustee shall continue to act in accordance with this Agreement. At
such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become
subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee,
including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this
Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety
days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited
with any court in the State of New York or with the United States District Court for the Southern District of New York and upon
such deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)          At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Section 3(b).

 

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6.          Miscellaneous.

 

(a)          The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to
funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing
funds transfers, the Trustee will rely upon all information supplied to it by the Company, including account names, account numbers
and all other identifying information relating to a beneficiary, beneficiary's bank or intermediary bank. The Trustee shall not
be liable for any loss, liability or expense resulting from any error in the information or transmission of the wire.

 

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

 

(c)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Section 1(i) (which may not be modified, amended or deleted without the affirmative vote of at least 65% of the then
outstanding shares of Common Stock; provided that no such amendment will affect any Public Stockholder who has otherwise either
(i) indicated his election to redeem his shares of Common Stock in connection with a stockholder vote sought to amend this Agreement
or (ii) not consented to any amendment to this Agreement to extend to the time he would be entitled to a return of his pro rata
amount in the Trust Account), this Agreement or any provision hereof may only be changed, amended or modified (other than to correct
a typographical error) by a writing signed by each of the parties hereto; provided, however, that no such change, amendment or
modification may be made without the prior written consent of MJTA. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury. The Trustee may require from Company counsel an opinion as to
the propriety of any proposed amendment.

 

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

 

(e)          Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt or delivery confirmation
requested), by hand delivery or by facsimile transmission:

 

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if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven G. Nelson, Chairman, and Frank A. DiPaolo,
CFO

Fax No.: (212) 509-5150

 

if to the Company, to:

 

Pacific Monument Acquisition Corporation

800 Third Avenue

New York, New York 10022

Attn: Jonathan M. Mitchell, Chief Executive Officer

Fax No.: [XXX-XXX-XXXX]

 

in either case with a copy to the Underwriters,
to:

 

Morgan Joseph TriArtisan LLC

600 Fifth Avenue, 19th Floor

New York, New York 10020

Attn: Tina Pappas

Fax No.: [XXX-XXX-XXXX]

 

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

 

(g)          Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any
funds in the Trust Account under any circumstance. In the event that the Trustee has a claim against the Company under this Agreement,
the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

 

(h)          This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto. Each of the Company and
the Trustee hereby acknowledge that MJTA is a third party beneficiary of this Agreement and
this Agreement may not be modified or changed without the prior written consent of MJTA.

 

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

 

[Signature Page Follows]

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

 

	 	CONTINENTAL STOCK TRANSFER
	 	& TRUST COMPANY, as Trustee
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 
	 	By:	 
	 	 	Name: Jonathan M. Mitchell
	 	 	Title: Chief Executive Officer

 

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SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	[$___.__]
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the
    effective date of the IPO by wire transfer or check	 	[$___.__]
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under
    Section 2	 	[$___.__]
	Paying Agent services as required pursuant to Section 1(i) and 2(c)	 	Billed to Company upon delivery of service pursuant to Section 1(i) and 2(c)	 	[Prevailing rates]

   

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EXHIBIT A

 

[Letterhead of Company]

 

                     [Insert date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

		Re:	Trust Account
                                                                                                         No. ____________ Termination
                                                                                                         Letter

 

Gentlemen:

 

Pursuant to Section
(i) of the Investment Management Trust Agreement between Pacific Monument Acquisition Corporation (“Company”) and
Continental Stock Transfer & Trust Company (“Trustee”), dated as of __________ __, 2012 (“Trust Agreement”),
this is to advise you that the Company has entered into an agreement (“Business Agreement”) with __________________
(“Target Business”) to consummate a business combination with Target Business (“Business Combination”)
on or about [insert date]. The Company shall notify you at least 48 hours in advance of the actual date of the consummation
of the Business Combination (“Consummation Date”).

 

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

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated
and that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado Statute have been met
and (ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of __________________, which verifies the
vote of the Company’s stockholders in connection with the Business Combination if a vote is held and (b) joint written instructions
from it and MJTA with respect to the transfer of the funds held in the Trust Account (“Instruction Letter”). You are
hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the counsel's
letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits
held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the same
and the Company shall direct you as to whether such funds should remain in the Trust Account and distributed after the Consummation
Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement
shall be terminated.

 

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In the event that
the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified
you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions
from the Company, the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day
immediately following the Consummation Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Jonathan M. Mitchell, Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Douglas B. Baker, Secretary

 

cc: Morgan Joseph TriArtisan LLC

 

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EXHIBIT B

 

[Letterhead of Company]

 

                     [Insert
date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

		Re:	Trust Account
                                                                                                         No. ____________ Termination
                                                                                                         Letter

 

Gentlemen:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Pacific Monument Acquisition Corporation (“Company”) and
Continental Stock Transfer & Trust Company (“Trustee”), dated as of __________ __, 2012 (“Trust Agreement”),
this is to advise you that the Company has been unable to effect a Business Combination with a Target Company within the time
frame specified in the Company’s Amended and Restated Certificate of Incorporation, as described in the Company’s
prospectus relating to its IPO.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on ______________ and
to transfer the total proceeds to the Trust Checking Account at _______________ to await distribution to the stockholders.
The Company has selected ____________ 20 __ as the record date for the purpose of determining the stockholders entitled to receive
their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation
proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record and in your separate capacity
as Paying Agent, to distribute said funds directly to the Company's stockholders (other than with respect to the initial shares)
in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company.
Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Jonathan M. Mitchell, Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Douglas B. Baker, Secretary

 

cc: Morgan Joseph TriArtisan LLC

 

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EXHIBIT C

 

[Letterhead of Company]

 

                      [Insert
date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

		Re:	Trust Account
                                                                                                         No. __________

 

Gentlemen:

 

Pursuant to Section 2(a)
of the Investment Management Trust Agreement between Pacific Monument Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of __________ __, 2012 (“Trust Agreement”), the
Company hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date
hereof. The Company needs such funds to pay for its tax obligations. In accordance with the terms of the Trust Agreement, you
are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the
Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Jonathan M. Mitchell, Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Douglas B. Baker, Secretary

 

cc: Morgan Joseph TriArtisan LLC

 

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EXHIBIT D

 

[Letterhead of Company]

 

                     [Insert
date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

		Re:	Trust Account
                                                                                                         No. ___________

 

Gentlemen:

 

Pursuant to Section
2(b) of the Investment Management Trust Agreement between Pacific Monument Acquisition Corporation (“Company”) and
Continental Stock Transfer & Trust Company (“Trustee”), dated as of __________ __, 2012 (“Trust Agreement”),
the Company hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date
hereof. The Company needs such funds to cover its expenses relating to investigating and selecting a target business and other
working capital requirements. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer
(via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Jonathan M. Mitchell, Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Douglas B. Baker, Secretary

 

cc: Morgan Joseph TriArtisan LLC

 

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EXHIBIT E

 

[Letterhead of Company]

 

                     [Insert
date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank DiPaolo

 

		Re:	Trust Account
                                                                                                         No. __________

 

Gentlemen:

 

Pursuant to Section 2(c) of the Investment
Management Trust Agreement between Pacific Monument Acquisition Corporation (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of __________ __, 2012 (“Trust Agreement”), pursuant to the
instructions attached hereto as Schedule A, you are instructed to distribute funds held in the Trust Account to those parties
listed on Schedule A, in consideration of the Company’s purchases of shares of Common Stock at a price of $___ per share,
including commissions (the “Purchase Price”).  The Purchase Price is equal to or below the Maximum Price
(as defined in the Trust Agreement).  The shares of Common Stock, together with any shares previously purchased by the
Company pursuant to paragraph 2(c) of the Trust Agreement, do not exceed the Maximum Amount (as defined in the Trust Agreement).

 

	 	Very truly yours,
	 	 
	 	PACIFIC MONUMENT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Jonathan M. Mitchell, Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Douglas B. Baker, Secretary

 

cc: Morgan Joseph TriArtisan LLC

 

    	16ESCROW AGREEMENT

 

ESCROW AGREEMENT, dated as of __________ __, 2012
(“Agreement”), by and among PACIFIC MONUMENT ACQUISITION CORPORATION, a Delaware corporation (“Company”),
MONUMENT CAPITAL GROUP SPAC I LLC, PACIFIC CAPITAL PARTNERS & ASSOCIATES LIMITED, THE SEAPORT GROUP LLC PROFIT SHARING PLAN
and ARMORY MASTER FUND LTD. (collectively “Initial Stockholders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
a New York corporation (“Escrow Agent”).

 

WHEREAS, the Company has entered into an Underwriting
Agreement, dated as of __________ __, 2012 (“Underwriting Agreement”), with Morgan Joseph TriArtisan LLC (“MJTA”)
acting as representative of the several underwriters (collectively, the “Underwriters”), pursuant to which, among other
matters, the Underwriters have agreed to purchase 4,000,000 units (“Units”) of the Company, plus an additional 600,000
Units if the Underwriters exercise their over-allotment option in full. Each Unit consists of one share of common stock of the
Company, par value $0.0001 per share (“Common Stock”), and one Warrant to purchase one share of Common Stock, all as
more fully described in the Company’s final Prospectus, dated ___________ (“Prospectus”) comprising part of the
Company’s Registration Statement on Form S-1 (File No. 333-178749) under the Securities Act of 1933, as amended (“Registration
Statement”), declared effective on ___________ (“Effective Date”).

 

WHEREAS, the Initial Stockholders have agreed
as a condition of the sale of the Units to deposit their shares of Common Stock of the Company, as set forth opposite their respective
names in Exhibit A attached hereto (collectively “Escrow Shares”), in escrow as hereinafter provided.

 

WHEREAS, the Company and the Initial Stockholders
desire that the Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as hereinafter provided.

 

IT IS AGREED:

 

1.          Appointment
of Escrow Agent. The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject
to the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject
to such terms.

 

2.          Deposit
of Escrow Shares. On or before the Effective Date, each of the Initial Stockholders shall deliver to the Escrow Agent certificates
representing such Initial Stockholder’s respective Escrow Shares, to be held and disbursed subject to the terms and conditions
of this Agreement. Each Initial Stockholder acknowledges that the certificate representing such Initial Stockholder’s Escrow
Shares is legended to reflect the deposit of such Escrow Shares under this Agreement.

 

    	 

    	 

    

 

3.          Disbursement
of the Escrow Shares.

 

3.1           The Escrow Agent shall hold the Escrow Shares as follows: (i) with respect to 811,764 Escrow Shares, until
one year after the consummation of a Business Combination (as such term is defined in the Registration Statement), (ii) with respect
to 174,242 Escrow Shares, if, within five years after the Company consummates a Business Combination, the last sales price of the
Common Stock equals or exceeds $14.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing after such Business Combination, and (iii) with respect to
163,994 Escrow Shares, if, within five years after the Company consummates a Business Combination, the last sales price of the
Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing after such Business Combination, in each case subject to reduction
in an amount equal to the Overallotment Fraction (defined below in Section 3.2 below) (the time during which any shares continue
to remain in escrow is referred to as the “Escrow Period”); provided, however, that the Escrow Agent shall disburse
each Initial Stockholder’s Escrow Shares (and any applicable share power) to such Initial Stockholder, if, after the Company
consummates a Business Combination, (i) the Company (or the surviving entity) subsequently consummates a liquidation, merger, stock
exchange or other similar transaction which results in all of the stockholders of such entity having the right to exchange their
shares of Common Stock for cash, securities or other property or (ii), with respect to the Escrow Shares referred to in clause
(i) above, the closing price of the Common Stock equals or exceeds $13.00 for any 20 trading days within a 30-trading day period.
At any time when Escrow Shares are to be released from escrow as a result of a required date being reached or upon the achievement
of the required share price trigger, upon written instructions from each Initial Stockholder, the Escrow Agent shall disburse each
Initial Stockholder’s Escrow Shares (and any applicable share power) to such Initial Stockholder. Notwithstanding anything
contained to the contrary herein, if the Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company
is being liquidated at any time after the date hereof, then the Escrow Agent shall promptly destroy the certificates representing
the Escrow Shares. The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow
Shares in accordance with this Section 3.

 

3.2           Notwithstanding Section 3.1, if the Underwriters do not exercise their over-allotment option to purchase an
additional 600,000 Units of the Company in full (as described in the Underwriting Agreement), the Initial Stockholders agree that
the Escrow Agent shall return to the Company for cancellation, at no cost, the number of Escrow Shares held by each Initial Stockholder
determined by multiplying (a) the product of (i) 150,000, multiplied by (ii) a fraction, (x) the numerator of which is the number
of Escrow Shares held by each Initial Stockholder, and (y) the denominator of which is the total number of Escrow Shares, by (b)
a fraction (“Overallotment Fraction”), (i) the numerator of which is 600,000 minus the number of shares of Common Stock
purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 600,000. The
Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the Underwriters’ over-allotment
option and the number of Units, if any, purchased by the Underwriters in connection with their exercise thereof.

 

4.          Rights
of Initial Shareholders in Escrow Shares.

 

4.1           Voting
Rights as a Stockholder. Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as stockholders of the Company during the Escrow Period, including, without
limitation, the right to vote such shares.

 

4.2           Dividends
and Other Distributions in Respect of the Escrow Shares. During the Escrow Period, all dividends payable in cash with respect
to the Escrow Shares shall be paid to the Initial Stockholders, but all dividends payable in stock or other non-cash property (“Non-Cash
Dividends”) shall be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term
“Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

 

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4.3           Restrictions
on Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be
(i) amongst the Initial Stockholders themselves, to officers, directors and employees of the Company, to a holder’s affiliates
or its members upon liquidation, (ii) by bona fide gift to a member of the Initial Stockholder’s immediate family or to a
trust, the beneficiary of which is the Initial Stockholder or a member of the Initial Stockholder’s immediate family for
estate planning purposes, (iii) by virtue of the laws of descent and distribution upon death, (iv) pursuant to a qualified domestic
relations order, (v) by certain pledges to secure obligations incurred in connection with purchases of the Company’s securities
or (vi) by private sales made at or prior to the consummation of a Business Combination at prices no greater than the price at
which the Escrow Shares were originally purchased, or (vii) to the Company for cancellation in connection with the consummation
of a Business Combination, in each case, except for clause (vii), on the condition that such transfers may be implemented only
upon the respective transferee’s written agreement to be bound by the terms and conditions of this Agreement and of the provisions
of the Insider Letter (as defined below) signed by the Initial Stockholder transferring the Escrow Shares relating to the escrow,
voting and conversion of such Escrow Shares.

 

4.4           Insider
Letters. Each of the Initial Stockholders has executed a letter agreement with MJTA and the Company, dated as indicated on
Exhibit A hereto, and which is filed as an exhibit to the Registration Statement (“Insider Letter”), respecting the
rights and obligations of such Initial Stockholder in certain events, including but not limited to the liquidation of the Company.

 

5.          Concerning
the Escrow Agent.

 

5.1           Good
Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise
of its own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document
(not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which is believed by the Escrow Agent to be genuine and to be signed or presented by the
proper person or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties
and, if the duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

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5.2           Indemnification.
The Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses, including counsel fees and
disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding involving any claim
which in any way, directly or indirectly, arises out of or relates to this Agreement, the services of the Escrow Agent hereunder,
or the Escrow Shares held by it hereunder, other than expenses or losses arising from the gross negligence or willful misconduct
of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any
action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing. In the event of the receipt of such
notice, the Escrow Agent, in its sole discretion, may commence an action in the nature of interpleader in an appropriate court
to determine ownership or disposition of the Escrow Shares or it may deposit the Escrow Shares with the clerk of any appropriate
court or it may retain the Escrow Shares pending receipt of a final, non appealable order of a court having jurisdiction over all
of the parties hereto directing to whom and under what circumstances the Escrow Shares are to be disbursed and delivered. The provisions
of this Section 5.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3           Compensation.
The Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered by it hereunder. The Escrow
Agent shall also be entitled to reimbursement from the Company for all expenses paid or incurred by it in the administration of
its duties hereunder including, but not limited to, all counsel, advisors’ and agents’ fees and disbursements and all
taxes or other governmental charges.

 

5.4           Further
Assurances. From time to time on and after the date hereof, the Company and the Initial Stockholders shall deliver or cause
to be delivered to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as
the Escrow Agent shall reasonably request to carry out more effectively the provisions and purposes of this Agreement, to evidence
compliance herewith or to assure itself that it is protected in acting hereunder.

 

5.5           Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties
hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective
at such time that the Escrow Agent shall turn over to a successor escrow agent appointed by the Company, the Escrow Shares held
hereunder. If no new escrow agent is so appointed within the 60 day period following the giving of such notice of resignation,
the Escrow Agent may deposit the Escrow Shares with any court it reasonably deems appropriate.

 

5.6           Discharge
of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested
in writing at any time by the other parties hereto, jointly, provided, however, that such resignation shall become effective only
upon acceptance of appointment by a successor escrow agent as provided in Section 5.5.

 

5.7           Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross
negligence or its own willful misconduct.

 

5.8           Waiver.
The Escrow Agent hereby waives any right of set-off or any other 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 the Escrow Agent 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.

 

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6.          Miscellaneous.

 

6.1           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, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction.

 

6.2           Third
Party Beneficiaries. Each of the Initial Stockholders hereby acknowledges that the Underwriters are third party beneficiaries
of this Agreement and this Agreement may not be modified or changed without the prior written consent of MJTA.

 

6.3           Entire
Agreement. This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and,
except as expressly provided herein, may not be changed or modified except by an instrument in writing signed by the party to be
charged.

 

6.4           Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
thereof.

 

6.5           Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

6.6           Notices.
Any notice or other communication required or which may be given hereunder shall be in writing and either be delivered personally
or be mailed, certified or registered mail, or by private national courier service, return receipt requested, postage prepaid,
and shall be deemed given when so delivered personally or, if mailed, two days after the date of mailing, as follows:

 

If to the Company, to:

 

Pacific Monument Acquisition Corporation

800 Third Avenue

New York, New York 10022

Attn: Chief Executive Officer

 

If to a Stockholder, to his address set forth
in Exhibit A.

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust
Company

17 Battery Place

New York, New York 10004

Attn: Chairman

 

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A copy of any notice sent hereunder shall be sent
to:

 

Morgan Joseph TriArtisan LLC

600 Fifth Avenue, 19th Floor

New York, New York 10020

Attn: [Chairman]

 

and:

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

 

and:

 

Ellenoff Grossman & Schole LLP

150 East 42nd Street

New York, New York 10017

Attn: Douglas S. Ellenoff, Esq.

 

The parties may change the persons and addresses
to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided
herein for giving notice.

 

6.7           Liquidation
of the Company. The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company
in the event that the Company fails to consummate a Business Combination within the time period specified in the Prospectus.

 

[Signature Page Follows]

 

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WITNESS the execution of this Agreement as of
the date first above written.

 

	 	 	COMPANY:
	 	 	 
	 	 	PACIFIC MONUMENT ACQUISITION
	 	 	CORPORATION
	 	 	 
	 	By:	 
	 	 	Name: Jonathan M. Mitchell
	 	 	Title: Chief Executive Officer
	 	 	 
	 	 	INITIAL STOCKHOLDERS:
	 	 	 
	 	 	MONUMENT CAPITAL GROUP SPAC I LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	PACIFIC CAPITAL PARTNERS &
	 	 	ASSOCIATES LIMITED
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	THE SEAPORT GROUP LLC PROFIT SHARING
	 	 	PLAN
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	ARMORY MASTER FUND LTD.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

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	 	 	ESCROW AGENT:
	 	 	 
	 	 	CONTINENTAL STOCK TRANSFER
	 	 	& TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

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EXHIBIT A

 

	Name and Address of
 Initial
                                                                                                                                                                                                         Stockholder
                                                                                                                                                                                                         
	 	Number
 of
                                                                                                                                                    Shares
	 	 	Stock
 Certificate
                                                                                                                                                   Number
	 	 	Date of
 Insider
                                                                                                                                                     Letter
	 
	 	 	 	 	 	 	 	 	 	 
	Monument Capital Group SPAC I LLC
 c/o Pacific Monument Acquisition Corporation
 800 Third Avenue

New York, New York 10022
	 	 	532,450	 	 	 	1	 	 	 	____________,2012	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	The Seaport Group LLC Profit Sharing Plan
 c/o Pacific Monument Acquisition Corporation
 800 Third Avenue

New York, New York 10022
	 	 	249,780	 	 	 	2	 	 	 	____________,2012	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Armory Master Fund Ltd.
 c/o Pacific Monument Acquisition Corporation
 800 Third Avenue

New York, New York 10022
	 	 	200,100	 	 	 	3	 	 	 	____________,2012	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pacific Capital Partners & Associates Limited
 c/o Pacific Monument Acquisition Corporation
 800 Third Avenue

New York, New York 10022
	 	 	167,670	 	 	 	4	 	 	 	____________,2012

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