Document:

Exhibit 4.5

                                WARRANT AGREEMENT

     Agreement  made as of [_____],  2007  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  5,000,000  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.

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     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)  [_________],  2008, and  terminating at 5:00 p.m., New York
City time on the earlier to occur of (a) [________],  2011 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

                                       9

<PAGE>

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  hereunder and will
reimburse the

                                       10

<PAGE>

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  r 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

<PAGE>

     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

<PAGE>

     -------------------
     -------------------
     -------------------

     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

<PAGE>

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

<PAGE>

     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

                                                               February __, 2007

Churchill Ventures Ltd.
50 Revolutionary Road
Scarborough, New York 10510

Banc of America Securities LLC
9 West 57th Street
New York, NY  10019

     Re: INITIAL PUBLIC OFFERING

Gentlemen:

     The undersigned officer and director of Churchill Ventures Ltd., a Delaware
corporation (the "COMPANY"),  in consideration of Banc of America Securities LLC
("BOFA") 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

<PAGE>

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. The undersigned agrees that
in the event the  Company's  remaining  assets  outside  the Trust  Account  are
insufficient  to pay the costs of  dissolution  and  liquidation  and subsequent
thereto  in the  event  Churchill  Capital  Partners  LLC,  a  Delaware  limited
liability  company  (the  "RELATED  PARTY")  is  unable to pay such  costs,  the
undersigned  agrees to bear such costs  jointly and severally  with  Christopher
Bogart, Elizabeth O'Connell and Nir Tarlovsky.

     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 any claim of any type, whatsoever and without exception, 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 BofA 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,  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  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

                                       2

<PAGE>

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,  one year following the  consummation of the
Business  Combination  (the "INSIDER SHARES LOCK-UP PERIOD") and with respect to
the  Sponsor  Warrants,  upon  consummation  of the  Business  Combination  (the
"SPONSOR  WARRANTS  LOCK-UP  PERIOD",  together with the Insider  Shares Lock-Up
Period, the "LOCK-UP PERIOD").  Notwithstanding  the foregoing,  the undersigned
may transfer his Insider  Shares or 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

<PAGE>

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 BofA 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 BofA 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  BofA  and  its  legal
representatives  or agents (including any investigative  search firm retained by
BofA) any  information  they may have  about the  undersigned's  background  and
finances (the "INFORMATION"). Neither BofA 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

<PAGE>

     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  5,000,000 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 $5 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

<PAGE>

     The undersigned  hereby executes this letter  agreement as of February ___,
2007.

                                               ---------------------------------
                                               Itzhak Fisher

                                       6

<PAGE>

                                                                       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 Nielsen  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  Nielsen  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,   President  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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