Document:

Unassociated Document

    EXHIBIT
      10.5

    

    

    AMENDED
      AND RESTATED WARRANT PURCHASE AGREEMENT

    

              THIS
      AMENDED AND RESTATED WARRANT PURCHASE AGREEMENT (this “Agreement”) made as of
      April 29, 2008 among China Fundamental Acquisition Corporation, a Cayman Islands
      company (the “Company”) and the undersigned (the “Purchasers”).

    

    WHEREAS,
      the Company and certain of the Purchasers were party to that certain Warrant
      Purchase Agreement, dated February 19, 2008 (the “Original Agreement”);

    

    WHEREAS,
      the parties to the Original Agreement wish to amend and restate the Original
      Agreement on the terms and conditions set forth
      herein;       

       

    WHEREAS,
      the Company has submitted to the Securities and Exchange Commission (the “SEC”)
      a registration statement on Form F-1 (the “Registration Statement”) in
      connection with the Company’s initial public offering (the “IPO”) of up to
      4,312,500 units (which includes 562,500 units which may be issued to the
      underwriters if the over-allotment is exercised in full) (the “Units”), each
      unit consisting of one ordinary share of the Company, $0.001 par value (the
      “Ordinary Shares”), and (ii) one warrant (the “Warrants”), each warrant to
      purchase one share of Ordinary Shares; and

    

              WHEREAS,
      immediately prior to the consummation of the IPO, the Company desires to sell
      in
      a private placement to the Purchasers (the “Placement”) an aggregate
      of 1,944,444 warrants (the “Placement Warrants”) substantially identical to
      the Warrants being issued in the IPO pursuant to the terms and conditions hereof
      and as set forth in the Registration Statement, except that the Placement
      Warrants to be issued in the Placement shall not be registered under the
      Securities Act of 1933, as amended (the “Securities Act”) and will be
      non-redeemable so long as the Purchasers (or their transferees) hold such
      Warrants; and

    

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

    

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

    

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

    

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

    

    1.       Authorization
      of the Placement Warrants.
      The
      Company has duly authorized the issuance and sale of the Placement Warrants
      to
      the Purchasers.

    

    2.       Purchase
      of Placement Warrants.
      The
      Purchasers hereby agree to purchase an aggregate of 1,944,444 Placement
      Warrants at a purchase price of $0.90 per Placement Warrant, or an aggregate
      of
      $1,750,000 (the “Purchase Price”). Such purchases shall be paid for with funds
      derived directly from such Purchasers in the names and amounts set forth on
      Schedule
      A
      hereto.
      On the Closing Date, as defined below, upon payment by the Purchasers of the
      Purchase Price by wire of immediately available funds to the Company, the
      Company shall deliver a certificate evidencing the Placement Warrants duly
      registered in the Purchaser’s name to the Purchasers.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    3.       Closing.
      The
      closing of the purchase and sale of the Placement Warrants (the “Closing”) will
      take place at such time and place as the parties may agree (the “Closing Date”),
      but in no event later than the closing date (the “IPO Closing Date”) of the IPO.
      On or prior to the IPO Closing Date, the Purchasers shall pay the Purchase
      Price
      by wire transfer of funds to the Company’s trust account at the London branch of
      JPMorgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust
      Company, acting as trustee (the “Trust Account”). The certificates for the
      Placement Warrants shall be delivered to the Purchasers promptly after the
      payment of the Purchase Price.

    

    At
      least
      twenty-four (24) hours prior to the effective date of the Registration
      Statement, the Company or the Purchasers, as applicable, shall deliver the
      Purchase Price to a bank account designated by the Company. Simultaneously
      with
      the consummation of the IPO, the Company shall deposit the Purchase Price into
      the Trust Account.

    

    4.       Lock-Up
      Agreement.
      Prior
      to the consummation of an Initial Business Combination (as defined in the
      Registration Statement), the Purchasers shall not (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 or enter into any transaction which
      is designed to or might reasonably be expected to result in the disposition
      of,
      directly or indirectly, or file (or participate in the filing of) a registration
      statement with the SEC 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 SEC promulgated thereunder (the “Exchange Act”) with
      respect to, any Placement Warrants and the Underlying Shares, or any securities
      convertible into or exercisable or exchangeable for shares, or warrants or
      other
      rights to purchase shares 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 Placement Warrants or Underlying Shares
      or
      any securities convertible into or exercisable or exchangeable for shares,
      or
      warrants or other rights to purchase shares or any such securities, whether
      any
      such transaction is to be settled by delivery of shares or such other
      securities, in cash or otherwise, or publicly announce an intention to effect
      any such transaction (collectively “Transfer”), provided,
      however,
      that
      the following Transfers shall be allowed, on condition that prior to such
      Transfer, each permitted transferee or the trustee or legal guardian for each
      permitted transferee agrees in writing to be bound by the terms of this
      Agreement: (a) Transfers to an entity’s beneficiaries upon its liquidation, (b)
      Transfers to relatives and trusts for estate planning purposes, (c) Transfers
      pursuant to the laws of descent and distribution upon death, (d) Transfers
      pursuant to a qualified domestic relations order, (e) Transfers to those persons
      set forth on Schedule
      A
      and
      persons affiliated with them, as well as officers, directors and employees
      of
      the Company and persons affiliated with the Company’s founders or (f) Transfers
      of Units (or any underlying Ordinary Shares or Warrants of such Units) acquired
      by Chardan Capital Markets, LLC in its capacity as an underwriter for the IPO.
      

    

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

    

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

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

    

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

    

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

    

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

    

    6.       Registration
      Rights.
      The
      Purchasers shall have registration rights with respect to the Placement Warrants
      and the Underlying Shares pursuant to the Registration Rights Agreement, to
      be
      entered into in connection with the IPO, by and among the Company and the
      investors listed on the signature page thereto.

    

    7.       Waiver
      of Claims Against Trust Account.
      Each
      Purchaser hereby waives any and all right, title, interest or claim of any
      kind
      (“Claim”) in or to any distributions from the Trust Account with respect to any
      Ordinary Shares acquired by the Purchaser in connection with the exercise of
      the
      Placement Warrants purchased pursuant to this Agreement 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.

    

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

    

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

    

    10.     Governing
      Law.
      This
      Agreement shall for all purposes be deemed to be made under and shall be
      construed in accordance with the laws of the State of New York. Each of the
      parties hereby agrees that any action, proceeding or claim against it arising
      out of or relating in any way to this Agreement shall be brought and enforced
      in
      the courts of the State of New York or the United States District Court for
      the
      Southern District of New York, and irrevocably submits to such jurisdiction,
      which jurisdiction shall be exclusive. Each of the parties hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

              

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the
day
      above
      first written.

    

    
      	 	 	 
	 	
              CHINA
                FUNDAMENTAL ACQUISITION 

              CORPORATION

            
	 
 	 
 	 
 
	 	By:  	
                          /s/
                Chun Yi Hao 

            
	 	
              
Name: Chun
              Yi Hao
	 	Title:
               Chief
              Executive Officer

    

     

    
      	 	 	 
	 	
              PURCHASERS

               

               

              Ralco Capital Limited

            
	 
 	 
 	 
 
	 	By:  	            /s/
              Chun Yi Hao 
	 	
              
Name:
              Chun Yi Hao
	 	Title:
              Director 

       

      
        	 	 	 
	 	
                Rising Year Group Limited

              
	 
 	 
 	 
 
	 	By:  	            /s/
                Hope Ni 
	 	
                
Name:
                Hope Ni
	 	Title:
                Director 

 
 

      	 	 	 
	 	
              Globis International Investments LLC

            
	 
 	 
 	 
 
	 	By:  	            /s/
              Paul Packer 
	 	
              
Name:
              Paul Packer
	 	Title:
              Managing Member 

    

     

    
      	 	 	 
	 	
              Globis Capital Partners L.P.

            
	 
 	 
 	 
 
	 	By:  	            /s/
              Paul Packer 
	 	
              
Name:
              Paul Packer
	 	Title: Managing
              Member 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    
      	 	 	 
	 	
              Globis Overseas Fund Ltd.

            
	 
 	 
 	 
 
	 	By:  	            /s/
              Paul Packer 
	 	
              
Name:
              Paul Packer
	 	
              Title:
                Globis Overseas Fund Ltd.

                         by
                Globis Capital Mangement, L.P.

                         by
                Globis Capital Advisors, LLC

                         by
                Paul Packer, Managing Member 

            

    

     

    
      	 	 	 
	 	Oliveira
              Capital,
              LLC
	 
 	 
 	 
 
	 	By:  	            /s/
              Steven Oliveira 
	 	
              
Name:
              Steven Oliveira
	 	Title:
              President 

    

     

    
      
        	 	 	 
	 	
                Chardan
                  Capital Markets, LLC

              
	 
 	 
 	 
 
	 	By:  	            /s/
                Kerry Propper 
	 	
                
Name:
                Kerry Propper
	 	Title:
                CEO 

      

       

      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      A

    

    
      	
              Purchaser

            	
              Placement
                Warrants

            	
              Price

            
	 	 	 
	
              Ralco
                Capital Limited

            	
              305,556

            	
              $275,000

            
	 	 	 
	
              Rising
                Year Group Limited

            	
              305,556

            	
              $275,000

            
	 	 	 
	
              Globis
                International 

              Investment
                LLC

            	
              277,778

            	
              $250,000

            
	 	 	 
	
              Globis
                Capital Partners L.P.

            	
              194,444

            	
              $175,000

            
	 	 	 
	
              Globis
                Overseas Fund Ltd. 

            	
              83,333

            	
              $75,000

            
	 	 	 
	
              Oliveira
                Capital, LLC

            	
              555,555

            	
              $500,000

            
	 	 	 
	
              Chardan
                Capital Markets, LLC

            	
              222,222

            	
              $200,000Unassociated Document

    

      EXHIBIT
        10.6

    

    PROMISSORY
      NOTE

     

    Borrower:

     

    China
      Fundamental Acquisition Corporation

    Room
      2301, World-Wide House

    19
      Des
      Voeux Road

    Central,
      Hong Kong

     

    Lender:

     

    Mr.
      Chun
      Yi Hao

     

    Principal
      Amount:

     

    $15,000.00

     

    1. FOR
      VALUE
      RECEIVED, China Fundamental Acquisition Corporation promises to pay to Mr.
      Chun
      Yi Hao (the “lender”), at such address as may be provided in writing to China
      Fundamental Acquisition Corporation, the principal sum of fifteen thousand
      dollars ($15,000.00) in lawful money of the United States of America or such
      lesser amount, as the case may be, equal to the funds advanced by the lender
      to
      or on behalf of China Fundamental Acquisition Corporation. Documentation to
      substantiate all amounts advanced to or on behalf of China Fundamental
      Acquisition Corporation pursuant to this Note shall be attached hereto as such
      funds are so advanced.

     

    2. This
      Note
      will be repaid in full on the earlier of May 15, 2008 and the date on which
      Borrower consummates an initial public offering of its securities.

     

    3. At
      any
      time, China Fundamental Acquisition Corporation may pay the outstanding balance
      then owing under this Note to the lender without premium or
      penalty.

     

    4. This
      Note
      will be construed in accordance with and governed by the laws of the State
      of
      New York, without regard to conflicts of laws principles thereof.

     

    5. If
      any
      term, covenant, condition or provision of this Note is held by a court of
      competent jurisdiction to be invalid, void or unenforceable, it is the parties'
      intent that such provision be reduced in scope by the court only to the extent
      deemed necessary by that court to render the provision reasonable and
      enforceable and the remainder of the provisions of this Note will in no way
      be
      affected, impaired or invalidated as a result.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6. All
      costs, expenses and expenditures including, and without limitation, the
      reasonable legal costs incurred by lender in enforcing this Note as a result
      of
      any default by China Fundamental Acquisition Corporation , will be added to
      the
      principal then outstanding and will immediately be paid by China Fundamental
      Acquisition Corporation.

     

    7. The
      lender may not assign this Note or any interest in this Note if
      any.

     

    8. This
      Note
      will inure to the benefit of and be binding upon the respective heirs,
      executors, administrators and successors of China Fundamental Acquisition
      Corporation and the lender.  China Fundamental Acquisition Corporation
      waives presentment for payment, notice of non-payment, protest and notice of
      protest.

     

     

    
      _____________________________________

    

     

    IN
      WITNESS WHEREOF, China Fundamental Acquisition Corporation, intending
      to be legally bound hereby, has caused this Promissory Note to be
      duly
executed
      by the authorized officer named below this 3 day of January,
      2008.

     

    China
      Fundamental Acquisition Corporation

     

    By:
      /s/
      Chun Yi Hao

    
      
        
          

        
Name: Chun Yi Hao

    

    Title:
      Chief Executive Officer

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    PROMISSORY
      NOTE

    

    

    Date:
      April 2, 2008

    

    Borrower:

    

    China
      Fundamental Acquisition Corporation

    Room
      2301, World-Wide House

    19
      Des
      Voeux Road

    Central,
      Hong Kong

    

    Lender:

    

    Mr.
      Chun
      Yi Hao

    

    Principal
      Amount:

    

    $20,000.00

    

     
           1.     FOR VALUE RECEIVED, China Fundamental
      Acquisition Corporation promises to pay to Mr. Chun Yi Hao (the “lender”), at
      such address as may be provided in writing to China Fundamental Acquisition
      Corporation, the principal sum of fifteen thousand dollars ($20,000.00) in
      lawful money of the United States of America or such lesser amount, as the
      case
      may be, equal to the funds advanced by the lender to or on behalf of China
      Fundamental Acquisition Corporation. Documentation to substantiate all amounts
      advanced to or on behalf of China Fundamental Acquisition Corporation pursuant
      to this Note shall be attached hereto as such funds are so
      advanced.

    

     
           2.     This Note will be repaid in full on the
      earlier of July 15, 2008 and the date on which Borrower consummates an initial
      public offering of its securities.

    

     
           3.     At any time, China Fundamental Acquisition
      Corporation may pay the outstanding balance then owing under this Note to the
      lender without premium or penalty.

    

     
           4.     This Note will be construed in accordance
      with and governed by the laws of the State of New York, without regard to
      conflicts of laws principles thereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

     
           5.     If any term, covenant, condition or
      provision of this Note is held by a court of competent jurisdiction to be
      invalid, void or unenforceable, it is the parties' intent that such provision
      be
      reduced in scope by the court only to the extent deemed necessary by that court
      to render the provision reasonable and enforceable and the remainder of the
      provisions of this Note will in no way be affected, impaired or

    invalidated
      as a result.

    

     
           6.     All costs, expenses and expenditures
      including, and without limitation, the reasonable legal costs incurred by lender
      in enforcing this Note as a result of any default by China Fundamental
      Acquisition Corporation , will be added to the principal then outstanding and
      will immediately be paid by China Fundamental Acquisition
      Corporation.

    

     
           7.     The lender may not assign this Note or any
      interest in this Note if any.

    

     
           8.     This Note will inure to the benefit of and
      be binding upon the respective heirs, executors, administrators and successors
      of China Fundamental Acquisition Corporation and the lender.  China
      Fundamental Acquisition Corporation waives presentment for payment, notice
      of
      non-payment, protest and notice of protest.

    

     

    
      _____________________________________

    

    

    

     
           IN WITNESS WHEREOF, China Fundamental Acquisition
      Corporation, intending
      to be legally bound hereby, has caused this Promissory Note to be
      duly
      executed by the authorized officer named below on the date dated
      above.

    

    

    China
      Fundamental Acquisition Corporation

    

    By:

     

    
      /s/
        Chun
        Yi Hao

    

    
      
        

      
Name: Chun Yi Hao

    Title:
      Chief Executive Officer

    

    

    Confirmed
      by

    

     

    
      
        
          /s/
            Chun
            Yi Hao

        

        
          
            

          

        
Name:
        Chun Yi Hao

    

    Lender

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