Document:

Exhibit
      10.7

    

    STOCK
      ESCROW AGREEMENT

    

    STOCK
      ESCROW AGREEMENT, dated as of _________________, 2008 (“Agreement”), by and
      among NEW ASIA PARTNERS CHINA I CORPORATION, a Delaware corporation (“Company”),
      NEW ASIA PARTNERS LIMITED and CAPITAL TEN PARTNERS, LLC (collectively, the
      “Initial Stockholders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a
      New York corporation (“Escrow Agent”).

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated
      ___________________, 2008 (“Underwriting Agreement”), with Ladenburg Thalmann
& Co. Inc. (“Ladenburg”) and Morgan Joseph & Co. Inc. (“Morgan Joseph”)
      acting as representatives of the several underwriters (collectively, the
“Underwriters”), pursuant to which, among other matters, the Underwriters have
      agreed to purchase 3,750,000 units (“Units”) of the Company. Each Unit consists
      of one share of the Company’s common stock, par value $.0001 per share (“Common
      Stock”), and one warrant, each warrant to purchase one share of Common Stock,
      all as more fully described in the Company’s final Prospectus, dated
      _______________, 2008 (“Prospectus”) comprising part of the Company’s
      Registration Statement on Form S-1 (File No. 333-148612)
      under
      the Securities Act of 1933, as amended (“Registration Statement”), declared
      effective on _______________, 2008 (“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 his, her or its 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 his,
      her
      or its Escrow Shares is legended to reflect the deposit of such Escrow Shares
      under this Agreement.

     

    3. Disbursement
      of the Escrow Shares.
      The
      Escrow Agent shall hold the Escrow Shares until one year after the consummation
      of a Business Combination (as defined in the Registration Statement) (“Escrow
      Period”), on which date it shall, upon written instructions from the Company’s
      chief executive officer or general counsel or from such Initial Stockholder,
      disburse each of the Initial Stockholder’s Escrow Shares (and any applicable
      stock power) to such Initial Stockholder; provided, however, that if the Escrow
      Agent is notified by the Company pursuant to Section 6.7 hereof that the Company
      is being liquidated at
      any
      time during the Escrow Period, then the Escrow Agent shall promptly destroy
      the
      certificates representing the Escrow Shares; provided, however, that if the
      Underwriters do not exercise their over-allotment option to purchase an
      additional 562,500 Units of the Company (as described in the Prospectus), 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 equal to the product obtained by multiplying (i) the number of
      Escrow Shares held by such Initial Stockholder on the Effective Date by (ii)
      a
      fraction, (x) the numerator of which is 140,625, and (y) the denominator of
      which is 1,078,125, by (iii) an amount equal to (x) the difference between
      562,500 and the number of units purchased by the Underwriters upon the exercise
      of the over-allotment option, divided by (y) 562,500; provided further, however,
      that if, after the Company consummates a Business Combination (as such term
      is
      defined in the Registration Statement), it (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, then the Escrow Agent will, upon receipt of a certificate, executed
      by
      the Chairman of the Board, Chief Executive Officer, President or other
      authorized officer of the Company, in form reasonably acceptable to the Escrow
      Agent, that such transaction is then being consummated or such conditions have
      been achieved, as applicable, release the Escrow Shares to the Initial
      Stockholders. The Escrow Agent shall have no further duties hereunder after
      the
      disbursement or destruction of the Escrow Shares in accordance with this Section
      3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
              	4.	
                Rights
                  of Initial Stockholders in Escrow Shares.

              

      

    

     

    4.1 Voting
      Rights as a Stockholder.
      Subject
      to the terms of the Insider Letter 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.

     

    4.3 Restrictions
      on Transfer.
      During
      the Escrow Period, no sale, transfer, pledge, hypothecation or other disposition
      may be made of any or all of the Escrow Shares except (i) to an entity’s members
      or owners in proportion to their membership interest or upon its liquidation,
      (ii) by gift to a member of an Initial Stockholder’s immediate family or to a
      trust, the beneficiary of which is an Initial Stockholder or a member of an
      Initial Stockholder’s immediate family, (iii) by virtue of the laws of descent
      and distribution upon death of any Initial Stockholder, (iv) pursuant to a
      qualified domestic relations order or (v) by private sales made at or prior
      to
      the consummation of a Business Combination at prices no greater than the price
      which the Initial Stockholder paid for the Escrow Shares; provided, however,
      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 Insider Letter signed by the Initial Stockholder transferring the Escrow
      Shares.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.4 Insider
      Letters.
      Each of
      the Initial Stockholders has executed a letter agreement with Ladenburg, Morgan
      Joseph 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.

     

    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 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.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    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.

     

    
      
        	
              	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 (whether of the State of New York
      or any other jurisdiction that would cause the application of the laws of any
      jurisdiction other than the State of New York). 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 6.6 hereof. Such
      mailing shall be deemed personal service and shall be legal and binding upon
      the
      Company in any action, proceeding or claim.

     

    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 Ladenburg and Morgan
      Joseph.

     

    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
      the charged.
      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

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    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:

              	
                NEW
                  ASIA PARTNERS CHINA I CORPORATION

                1401-02
                  China Insurance Building

                166
                  Lu Jia Zui Dong Lu

                Pudong,
                  Shanghai, 200120, China

                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:
                  Steven G. Nelson

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

              	
                Blank
                  Rome LLP

                405
                  Lexington Avenue

                New
                  York, New York 10174

                Attn:
                  Robert J. Mittman, Esq.

              
	 	 
	
                and:

              	
                Ladenburg
                  Thalmann & Co. Inc.

                4400
                  Biscayne Blvd.

                Suite
                  1400

                Miami,
                  Florida 33137

                Attn:
                  James Cassel

              
	 	 
	
                and:
                  

              	
                Morgan
                  Joseph & Co. Inc.

                600
                  Fifth Avenue, 19th
                  Floor (HQ)

                New
                  York, New York 10020

                Attn:
                  Tina Pappas

              
	 	 
	
                and:

              	
                Graubard
                  Miller

                The
                  Chrysler Building

                405
                  Lexington Avenue

                New
                  York, New York 10174

                Attn:
                  David Alan Miller, Esq.

              

      

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    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(s) specified in the
      Prospectus.

     

    -Signature
      Page Follows-

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

    

    
      	 	
              NEW
                ASIA PARTNERS CHINA I

              CORPORATION

            
	 	 
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 
	 	 
	 	
              INITIAL
                STOCKHOLDERS:

            
	 	 
	 	
              NEW
                ASIA PARTNERS LIMITED

            
	 	 
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 
	 	
              CAPITAL
                TEN PARTNERS, LLC

            
	 	 
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 
	 	
              CONTINENTAL
                STOCK TRANSFER &

              TRUST
                COMPANY

            
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    
      	
              Name and
                Address of Initial

              Stockholder

            	 	
              Number
                of Shares

            	 	
              Stock
                Certificate

              Number

            	 	
              Date
                of

              Insider
                Letter

            	 
	
               

            	 	
               

            	 
	
              New
                Asia Partners Limited

              1401-02
                China Insurance Building

              166
                Lu Jia Zui Dong Lu

              Pudong,
                Shanghai, 200120, China

              Attn:
                Dennis Nguyen

            	 	 	
              668,437

            	 	 	
              [__]

            	
               

            	 	
              _______,
                2008

            	 
	 	 	 	 	 	 	 	 	 	 	 
	
              Capital
                TEN Partners, LLC

              116
                Village Boulevard

              Princeton,
                New Jersey 08540

            	 	 	
              409,688

            	 	 	
              [__]

            	
               

            	 	
              ________,
                2008

            	 

    

    

    
      
        
        

      

      
        8NEW
      ASIA PARTNERS LIMITED

    1401-02
      China Insurance Building

    166
      Lujiazui Dong Lu

    Pudong,
      Shanghai, 200120, China

    As
      of May
      21, 2008

    

    New
      Asia
      Partners China I Corporation

    1801-03,
      18F, One Lu Jia Zui

    68
      Yin
      Cheng Middle Rd.

    Pudong,
      Shanghai, 200120 China

    

    Re: Irrevocable
      Letter of Credit

    

    Ladies
      and Gentlemen:

    

    In
      connection with Payor’s initial public offering of securities of New
      Asia
      Partners China I Corporation
      (“Payor”) and in order to cover certain expenses related thereto, New Asia
      Partners Limited (“Payee”) hereby establishes this Irrevocable Letter of Credit
      (the “Letter of Credit”) in favor of Payee. Payor acknowledges that no funds
      have been advanced by Payee to Payor as of the date hereof under this Letter
      of
      Credit.

     

    This
      Letter of Credit is for the benefit of Payor, all in accordance with the
      following terms and conditions:

     

    1. Expiration.
      This
      Letter of Credit automatically shall expire at the close of business on the
      earliest to occur of the following dates (the “Termination Date”):

     

    a. November
      30, 2008; and

     

    b. The
      date
      on which Payor consummates an initial public offering of its securities under
      the Securities Act of 1933, as amended.

     

    If
      such
      Termination Date is not a Business Day (as hereinafter defined), then this
      Letter of Credit shall expire on the next succeeding Business Day.

     

    2. Stated
      Amount.
      The
      maximum aggregate amount available under this Letter of Credit shall be $40,000,
      which amount may be reduced from time to time as provided in paragraph 3, and
      is
      hereinafter referred to as the “Stated Amount.” 

     

    3. Reductions
      in the Stated Amount.
      Upon
      the honoring of a demand for payment hereunder by Payee, the Stated Amount
      shall
      be reduced automatically by an amount equal to the amount of such demand for
      payment. Upon a reduction, Payee may require Payor to return this Letter of
      Credit and to accept in substitution hereof a substitute Letter of Credit for
      a
      Stated Amount reflecting such reduction, but otherwise identical in form and
      substance to this Letter of Credit.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4. Documents
      To Be Presented.
      Funds
      under this Letter of Credit are available to Payor, against a certificate signed
      by Payor in the form of Schedule A hereto, appropriately completed. Multiple
      draws are permitted hereunder.

     

    5. Method
      and Notice of Presentment.
      The
      certificate referenced in paragraph 4 (a “Demand for Payment”) may be delivered
      to Payee in person, by mail, by an express delivery service, or by facsimile
      or
      email, at such number or numbers as Payee shall notify Payor from time to time
      in writing. A Demand for Payment shall be presented during Payee’s business
      hours on a Business Day prior to the expiration hereof at Payee’s office at
1401-02
      China Insurance Building, 166 Lujiazui Dong Lu, Pudong, Shanghai, 200120,
      China,
      Attention: Dennis Nguyen, or at such other address as Payee may notify Payor
      in
      writing from time to time. As used herein, “Business Day” means any day other
      than a Saturday, a Sunday or a day on which banks are authorized or required
      to
      remain closed in New York City.

     

    6. Time
      and Method for Payment.

     

    a. If
      Demand
      for Payment is made on a Business Day in conformity with the terms and
      conditions hereof, payment shall be made by Payee to Payor as promptly as
      practicable.

     

    b. Payment
      under this Letter of Credit shall be made by check or wire transfer in
      immediately available funds to Payor in accordance with the transfer
      instructions set forth in the Demand for Payment. 

     

    7. GOVERNING
      LAW.
      THIS
      LETTER OF CREDIT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW
      YORK.

     

    8. Irrevocability.
      This
      Letter of Credit shall be irrevocable.

     

    9. No
      Negotiation.
      A
      Demand for Payment under this Letter of Credit shall be presented directly
      to
      Payee and shall not be negotiated to or by any third party.

     

    10. Complete
      Agreement.
      This
      Letter of Credit, including Schedule A hereto, sets forth in full the terms
      of
      our undertaking. Reference in this Letter of Credit to other documents or
      instruments is for identification purposes only and such reference shall not
      modify or affect the terms hereof or cause such documents or instruments to
      be
      deemed incorporated herein.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    Payee
      hereby agrees with Payor to honor any Demand for Payment presented in compliance
      with the terms and conditions of this Letter of Credit.

     

    
      	 	 	 
	 	Very
              truly
              yours,
	 	 
	 	NEW ASIA PARTNERS LIMITED
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            

    

    

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    SCHEDULE
      A

     

    CERTIFICATE
      FOR DRAWING

    

    New
      Asia
      Partners Limited

    1401-02
      China Insurance Building

    166
      Lujiazui Dong Lu

    Pudong,
      Shanghai, 200120, China

    

    

    
      	 	
              Re:

            	
              Irrevocable
                Letter of Credit for the benefit of New
                Asia Partners China I Corporation

            

    

    

    New
      Asia
      Partners China I Corporation (“Payor”)
      hereby certifies to New Asia Partners Limited (“Payee”), with reference to
      Irrevocable Letter of Credit (the “Letter of Credit”; any capitalized term used
      herein and not defined shall have its respective meaning as set forth in the
      Letter of Credit) issued by Payee in favor of Payor that:

    

    1. Demand
      is
      hereby made under this Letter of Credit for $________ which amount
      does not exceed the Stated Amount in the Letter of Credit.

    

    2. Payment
      of this demand shall be made by check or by wire transfer in immediately
      available funds to the undersigned, attention: ___________________________,
      ABA#
      ______________, Reference:___________________.

    

    IN
      WITNESS WHEREOF, the undersigned has executed and delivered this Certificate
      as
      of the _____ day of __________, ____.

     

    
      	 	 	 
	 	NEW
              ASIA PARTNERS
              CHINA I CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:
                

            

    
      
         

      

      
        -4-

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