___________ _, 2004
Broadband Capital Management LLC
000 Xxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: China Mineral Acquisition Corporation
Gentlemen:
This letter will confirm the agreement of the undersigned to each purchase
warrants ("Warrants") of China Mineral Acquisition Corporation ("Company")
included in the units ("Units") being sold in the Company's initial public
offering ("IPO") upon the terms and conditions set forth herein. Each Unit is
comprised of one share of Common Stock and two Warrants. The shares of Common
Stock and Warrants will not be separately tradeable until 90 days after the
effective date of the Company's IPO unless Broadband Capital Management LLC
("Broadband") informs the Company of its decision to allow earlier separate
trading.
Xx. Xxxxx Xx agrees that this letter agreement constitutes an irrevocable
order for Broadband to purchase for his account within the twenty trading-day
period commencing on the date separate trading of the Warrants commences
("Separation Date") up to 334,000 Warrants at market prices not to exceed $0.65
per Warrant ("Mu Maximum Warrant Purchase"). Each of Dr. Xxxx Xxxx and Xx.
Xxxxxx Xxxx agrees that this letter agreement constitutes an irrevocable order
for Broadband to purchase for each of Dr. Xxxx Xxxx'x and Xx. Xxxxxx Xxxx'x
account within the twenty trading-day period commencing on the Separation Date
up to 333,000 Warrants at market prices not to exceed $0.65 per warrant ("Xxxx
and Xxxx Maximum Warrant Purchase" and together with the Mu Maximum Warrant
Purchase, the "Maximum Warrant Purchase"). Broadband (or such other broker
dealer(s) as Broadband may assign the order to) agrees to fill such order in
such amounts and at such times as it may determine, in its sole discretion,
during the twenty trading-day period commencing on the Separation Date.
Broadband further agrees that it will not charge the undersigned any fees and/or
commissions with respect to such purchase obligation.
Each of the undersigned may notify Broadband that all or part of his
respective Maximum Warrant Purchase will be made by an affiliate of the
undersigned (or another person or entity introduced to Broadband by the
undersigned (a "Designee")) who (or which) has an account at Broadband and, in
such event, Broadband will make such purchase on behalf of said affiliate or
Designee; provided, however, that each of the undersigned hereby agrees to make
payment of the purchase price of such purchase in the event that the affiliate
or Designee fails to make such payment.
Very truly yours,
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Xx. Xxxxx Xx
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Dr. Xxxx Xxxx
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Xx. Xxxxxx Xxxx
