<SEC-DOCUMENT>0001144204-14-043964.txt : 20140721
<SEC-HEADER>0001144204-14-043964.hdr.sgml : 20140721
<ACCEPTANCE-DATETIME>20140721172325
ACCESSION NUMBER:		0001144204-14-043964
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		26
CONFORMED PERIOD OF REPORT:	20140715
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140721
DATE AS OF CHANGE:		20140721

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			1347 Capital Corp
		CENTRAL INDEX KEY:			0001606163
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36541
		FILM NUMBER:		14985243

	BUSINESS ADDRESS:	
		STREET 1:		150 PIERCE ROAD
		STREET 2:		6TH FLOOR
		CITY:			ITASCA
		STATE:			IL
		ZIP:			60143
		BUSINESS PHONE:		847-700-8064

	MAIL ADDRESS:	
		STREET 1:		150 PIERCE ROAD
		STREET 2:		6TH FLOOR
		CITY:			ITASCA
		STATE:			IL
		ZIP:			60143
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v384170_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of Report (Date of earliest event
reported): July 15, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>1347 CAPITAL CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><B>001-36541</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>46-5399422</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>150 Pierce Road, 6th Floor, Itasca IL
60143<BR>
(Address of principal executive offices, including Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(855) 862-0436</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Registrant&rsquo;s telephone number,
including area code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Former name or former address, if changed
since last report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01. &nbsp;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">On July 15, 2014, the registration statement
(File No. 333-195695) (the &ldquo;Registration Statement&rdquo;) for 1347 Capital Corp.&rsquo;s (the &ldquo;Company&rdquo;) initial
public offering (&ldquo;IPO&rdquo;) was declared effective by the U.S. Securities and Exchange Commission.&nbsp;&nbsp; In connection
therewith and the closing of the IPO, the Company entered into the following agreements previously filed as exhibits to the Registration
Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An Underwriting Agreement,
dated July 15, 2014, between the Company and EarlyBirdCapital, Inc. as representative of the underwriters (&ldquo;EBC&rdquo;),
a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A Business Combination
Marketing Agreement, dated July 15, 2014, between the Company and EBC, a copy of which is filed as Exhibit 1.2 to this Current
Report on Form 8-K;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A Warrant Agreement,
dated July 15, 2014, between the Company and Continental Stock Transfer &amp; Trust Company, a copy of which is filed as Exhibit
4.1 to this Current Report on Form 8-K;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A Rights Agreement, dated
July 15, 2014, between the Company and Continental Stock Transfer &amp; Trust Company, a copy of which is filed as Exhibit 4.2
to this Current Report on Form 8-K;</FONT></TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An Investment Management
Trust Agreement, dated July 15, 2014, between the Company and Continental Stock Transfer &amp; Trust Company, a copy of which
is filed as Exhibit 10.1 to this Current Report on Form 8-K;</FONT></TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; text-indent: 27pt; width: 11%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Registration Rights Agreement, dated July 15, 2014,
between the Company and 1347 Investors LLC (the &ldquo;Sponsor&rdquo;), a copy of which is filed as Exhibit 10.2 to this Current
Report on Form 8-K;&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; text-indent: 27pt; width: 11%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Letter Agreements between the Company and the officers, directors and certain affiliates of the Company or its officers, copies of which are filed as Exhibits 10.3(a)-(j) to this Current Report on Form 8-K; and&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 11%"></TD><TD STYLE="width: 5%; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A Stock Escrow Agreement,
dated July 15, 2014, among the Company, 1347 Investors LLC and Continental Stock Transfer &amp; Trust Company, a copy of which
is filed as Exhibit 10.4 to this Current Report on Form 8-K.</FONT></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">On July 21, 2014, the Company consummated
its IPO of 4,000,000 units (&ldquo;Units&rdquo;). Each Unit consists of one share of common stock, $0.0001 par value per share
(&ldquo;Common Stock&rdquo;), one right (&ldquo;Right&rdquo;) to purchase one-tenth (1/10) of one share of Common Stock upon consummation
of an initial business combination (a &ldquo;Business Combination&rdquo;) and one warrant (&ldquo;Warrant&rdquo;) to purchase one-half
of one share of Common Stock at an exercise price of $11.50 per full share.&nbsp; The Units were sold at an offering price of $10.00
per Unit, generating gross proceeds of $40,000,000.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3.02.&nbsp; Unregistered Sales of Equity Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">Simultaneously with the consummation
of the IPO, the Company consummated the private placement (&ldquo;Private Placement&rdquo;) to the Sponsor of 180,000 units
(the &ldquo;Private Units&rdquo;) at a price of $10.00 per Private Unit and 600,000 warrants (the &ldquo;$15 Exercise Price
Sponsor Warrants&rdquo;), each exercisable for one share of Common Stock at an exercise price of $15.00 per share, at a price
of $0.50 per $15 Exercise Price Sponsor Warrant, generating total proceeds of $2,100,000.&nbsp; The Private Units consist of
one share of Common Stock (&ldquo;Private Shares&rdquo;), one right (&ldquo;Private Right&rdquo;) to purchase one-tenth
(1/10) of one share of Common Stock upon consummation of a Business Combination and one warrant (&ldquo;Private
Warrant&rdquo;) to purchase one-half of one share of Common Stock at an exercise price of $11.50 per full share. Copies of
the purchase agreements relating to the Private Units and the $15 Exercise Price Sponsor Warrants are filed as Exhibits 10.5
and 10.6, respectively, to this Current Report on Form 8-K.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">The Private Units are identical to the Units,
however the holders have agreed (A) to vote their Private Shares and any shares of Common Stock acquired in or after the IPO in
favor of any proposed Business Combination, (B) not to propose, or vote in favor of, an amendment to the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the shares of Common Stock issued in the IPO (&ldquo;Public Shares&rdquo;) if it does not complete a Business Combination
within 18 months from the closing of the IPO (or 24 months, if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing of the IPO and such Business Combination has
not yet been consummated within such 18-month period), unless the Company provides its public stockholders with the opportunity
to redeem their Public Shares in accordance with the Company&rsquo;s Amended and Restated Certificate of Incorporation, (C) not
to convert any shares (including the Private Shares) into the right to receive cash from the Trust Account in connection with a
stockholder vote to approve a proposed Business Combination or a vote to amend the provisions of the Company&rsquo;s Amended and
Restated Certificate of Incorporation relating to the substance or timing of the Company&rsquo;s obligation to redeem 100% of the
Public Shares if it does not complete a Business Combination within the required timeframe and (D) that the Private Shares will
not be entitled to be redeemed for a pro rata portion of the funds held in the Trust Account if a Business Combination is not consummated.
Additionally, subject to certain limited exceptions, the Private Units, including the underlying securities, will be subject to
certain restrictions on transfer until after the Company completes a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">The $15 Exercise Price Sponsor Warrants will
become exercisable on the same timing and with the same provisions as the Warrants and Private Warrants. However, the $15 Exercise
Price Sponsor Warrants will not be exercisable on a &ldquo;cashless basis&rdquo; and they will expire seven years after the Company&rsquo;s
completion of a Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. Additionally,
subject to certain limited exceptions, the $15 Exercise Price Sponsor Warrants (including the underlying shares of Common Stock)
will be subject to restrictions on transfer until after the Company completes a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">In connection with the IPO, the
Company also agreed to sell to EBC (and/or its designees), for $100, an option to purchase up to a total of 300,000 Units
exercisable at $10.00 per Unit commencing on the later of the consummation of a Business Combination and one year from the
date of the prospectus relating to the IPO. Since the option is not exercisable until at the earliest the consummation of a
Business Combination, and the Rights included in the Units will automatically entitle the holder to receive shares of Common
Stock upon consummation of a Business Combination, the option will effectively represent the right to purchase 330,000 shares
of Common Stock (which includes the 30,000 shares of Common Stock which will be issued for the Rights included in the Units)
for $3,000,000 and 300,000 Warrants to purchase 150,000 shares of Common Stock at $11.50 per full share. A copy of the option
is filed as Exhibit 4.3 to this Current Report on Form 8-K.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.03.&nbsp; Amendments to Certificate of Incorporation
or Bylaws; Change in Fiscal Year.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">On July 15, 2014, the Company filed its Amended
and Restated Certificate of Incorporation in the State of Delaware.&nbsp;&nbsp;The terms of the foregoing are set forth in the
Registration Statement and are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01.&nbsp;&nbsp;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">A total of $40,000,000 of the net proceeds
from the IPO and the Private Placement were placed in a trust account established for the benefit of the Company&rsquo;s public
stockholders at JP Morgan Chase Bank, N.A. (the &ldquo;Trust Account&rdquo;), with Continental Stock Transfer &amp; Trust Company
acting as trustee. Except for the withdrawal of interest to pay the Company&rsquo;s working capital requirements or franchise and
income taxes, none of the funds held in the Trust Account will be released until the earlier of the completion of a Business Combination
or the redemption of 100% of the Public Shares if the Company is unable to consummate a Business Combination within the required
timeframe.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">Copies of the press releases issued by the
Company announcing the effectiveness of the Registration Statement and consummation of the IPO are included as Exhibits 99.1 and
99.2, respectively, to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&nbsp; Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit </B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>No.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; width: 88%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Underwriting Agreement.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business Combination Marketing Agreement. &nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Certificate of Incorporation.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Warrant Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rights Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Unit Purchase Option between the Registrant and EarlyBirdCapital, Inc.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Investment Management Trust Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registration Rights Agreement between the Company and the Sponsor.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and the Sponsor.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Kingsway Financial Services Inc.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Fund Management Group LLC.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(d)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Gordon G. Pratt.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(e)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Hassan R. Baqar.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(f)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Larry G. Swets, Jr.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(g)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and John T. Fitzgerald.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(h)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Joshua Horowitz.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(i)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Leo Christopher Saenger III.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(j)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Thomas D. Sargent.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stock Escrow Agreement among the Company, 1347 Investors LLC and Continental Stock Transfer &amp; Trust Company.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">10.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="margin: 0pt 0">Private Units Purchase Agreement between the Company and 1347 Investors LLC.</P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">10.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="margin: 0pt 0">$15 Exercise Price Sponsor Warrants Purchase Agreement between the Company and 1347 Investors LLC.</P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release Announcing Pricing of IPO.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release Announcing Closing of IPO.</FONT></TD>
    </TR>
</TABLE>


<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: July 21, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.8pt"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD STYLE="padding-right: 2.8pt">&nbsp;</TD>
    </TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid">/s/ Hassan R. Baqar</P></TD>
    <TD STYLE="width: 16%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Hassan R. Baqar </FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer, Secretary and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit </B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>No.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; width: 88%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Underwriting Agreement.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business Combination Marketing Agreement. &nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Certificate of Incorporation.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Warrant Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rights Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Unit Purchase Option between the Registrant and EarlyBirdCapital, Inc.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Investment Management Trust Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registration Rights Agreement between the Company and the Sponsor.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and the Sponsor.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Kingsway Financial Services Inc.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Fund Management Group LLC.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(d)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Gordon G. Pratt.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(e)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Hassan R. Baqar.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(f)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Larry G. Swets, Jr.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(g)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and John T. Fitzgerald.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(h)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Joshua Horowitz.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(i)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Leo Christopher Saenger III.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3(j)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement between the Company and Thomas D. Sargent.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stock Escrow Agreement among the Company, 1347 Investors LLC and Continental Stock Transfer &amp; Trust Company.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">10.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Private Units Purchase Agreement between the Company and 1347 Investors LLC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">10.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><P STYLE="margin: 0pt 0">$15 Exercise Price Sponsor Warrants Purchase Agreement between the Company and 1347 Investors LLC.</P>


</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release Announcing Pricing of IPO.</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release Announcing Closing of IPO.</FONT></TD>
    </TR>
</TABLE>
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<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>v384170_ex1-1.htm
<DESCRIPTION>UNDERWRITING AGREEMENT BETWEEN 1347 CAPITAL CORP. AND EARLYBIRDCAPITAL, INC.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>4,000,000 Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>1347
Capital Corp.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNDERWRITING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">July 15, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">275 Madison Avenue, Suite 2701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>As Representative of the Underwriters</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>named on <U>Schedule A</U> hereto</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1347 Capital Corp.,
a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), hereby confirms its agreement with EarlyBirdCapital, Inc. (the &ldquo;<B>Representative</B>&rdquo;)
and with the other underwriters named on <I><U>Schedule A</U></I> hereto (if any), for which the Representative is acting as representative
(the &ldquo;<B>Representative</B>,&rdquo; with the Representative and such other underwriters being collectively referred to herein
as the &ldquo;<B>Underwriters</B>&rdquo; or, each underwriter individually, an &ldquo;<B>Underwriter</B>&rdquo;) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase
and Sale of Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Units</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase
of Units</U>.&nbsp; On the basis of the representations and warranties herein contained, but subject to the terms and
conditions herein set forth, the Company agrees to issue and sell to the several Underwriters, severally and not jointly, an
aggregate of 4,000,000 units of the Company (the &ldquo;<B>Firm</B> <B>Units</B>&rdquo;). Each Unit consists of one share of
the Company&rsquo;s common stock, par value $0.0001 per share (the &ldquo;<B>Common Stock</B>&rdquo;), one right (the
&ldquo;<B>Right</B>&rdquo;) and one warrant (the &ldquo;<B>Warrants</B>&rdquo;) at a purchase price (net of discounts and
commissions) of $9.70 per Firm Unit. Each Right entitles the holder to automatically receive one-tenth (1/10) of a share of
Common Stock upon consummation of any proposed initial merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one or more businesses or entities
(&ldquo;<B>Business Combination</B>&rdquo;). Each Warrant entitles the holder to purchase one-half (1/2) of one share of
Common Stock for $11.50 per full share during the period commencing on the later of thirty (30) days after the consummation
by the Company of its Business Combination and one (1) year from the Effective Date (defined below) and terminating on the
earlier of (i) the five-year anniversary of the consummation of a Business Combination, (ii) the liquidation of the Trust
Account (defined below) if the Company is unable to consummate a Business Combination by the Termination Date (as defined in
Section 7.6) or (iii) upon redemption of the Warrants. The Underwriters, severally and not jointly, agree to purchase from
the Company the number of Firm Units set forth opposite their respective names on <I>Schedule A</I>.&nbsp; The Firm Units are
to be offered initially to the public (the &ldquo;<B>Offering</B>&rdquo;) at the offering price of $10.00 per Firm Unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
and Delivery</U>.&nbsp; Delivery and payment for the Firm Units shall be made at 10:00 A.M., New York time, on the third (3<SUP>rd</SUP>)
Business Day following the commencement of trading of the Firm Units, or at such earlier time as shall be agreed upon by the Representative
and the Company at the offices of the Representative or at such other place as shall be agreed upon by the Representative and the
Company.&nbsp; The closing of the Offering is referred to herein as the &ldquo;<B>Closing</B>&rdquo; and the hour and date of delivery
and payment for the Firm Units is referred to herein as the &ldquo;<B>Closing Date</B>.&rdquo;&nbsp; Payment for the Firm Units
shall be made on the Closing Date through the facilities of Depository Trust Company (&ldquo;<B>DTC</B>&rdquo;) by wire transfer
in Federal (same day) funds. The Company shall receive an aggregate of $40,400,000 net proceeds from the sale of the Firm Units,
the Private Units (defined in Section 1.4.2 below) and $15 Exercise Price Sponsor Warrants (defined in Section 1.4.2 below),<FONT STYLE="font-size: 10pt">
</FONT>of which $40,000,000 shall be deposited on the Closing Date into the trust account (the &ldquo;<B>Trust Account</B>&rdquo;)
established by the Company for the benefit of the Public Stockholders (as defined below), as described in the Registration Statement
(as defined in Section 2.1.1 hereof) and pursuant to the terms of an Investment Management Trust Agreement (the &ldquo;<B>Trust
Agreement</B>&rdquo;) between the Company and Continental Stock Transfer &amp; Trust Company (&ldquo;<B>CST&amp;T</B>&rdquo;).
The remaining proceeds (less actual expense payments or other fees payable pursuant to this Agreement) shall be paid to the order
of the Company upon delivery of certificates (in form and substance reasonably satisfactory to the Representative) representing
the Firm Units (or through the facilities of the DTC for the account of the Representative).&nbsp; The Firm Units shall be registered
in such name or names and in such authorized denominations as the Representative may request in writing at least two (2) Business
Days (defined below) prior to the Closing Date.&nbsp; The Company will permit the Representative to examine and package the Firm
Units for delivery at least one (1) full Business Day prior to the Closing Date.&nbsp; The Company shall not be obligated to sell
or deliver the Firm Units except upon tender of payment by the Representative for all the Firm Units. As used herein, the term
&ldquo;<B>Business Day</B>&rdquo; shall mean any day other than a Saturday, Sunday or any day on which national banks in New York,
New York are not open for business, and the term &ldquo;<B>Public Stockholders</B>&rdquo; means the holders of shares of Common
Stock sold in the Offering or acquired in the aftermarket.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Over-Allotment
Option</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Representative shall have the option (the &ldquo;<B>Over-Allotment Option&rdquo;</B>) to purchase all or less than all of an additional
600,000 Units (the &ldquo;<B>Option Units</B>&rdquo;) solely for the purposes of covering any over-allotments in connection with
the distribution and sale of the Firm Units. Such Option Units shall, at the Representative&rsquo;s election, be purchased for
each account of the several Underwriters in the same proportion as the number of Firm Units set forth opposite such Underwriter&rsquo;s
name on Schedule A hereto (subject to adjustment by the Representative to eliminate fractions). Such Option Units shall be identical
in all respects to the Firm Units. The Firm Units and the Option Units are hereinafter collectively referred to as the &ldquo;<B>Public
Securities</B>.&rdquo;&nbsp; No Option Units shall be sold or delivered unless the Firm Units previously have been, or simultaneously
are, sold and delivered. The right to purchase the Option Units, or any portion thereof, may be exercised from time to time and
to the extent not previously exercised may be surrendered and terminated at any time upon notice by the Representative to the Company.
The purchase price to be paid for each Option Unit (net of discounts and commissions) will be $9.70 per Option Unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option</U>. The Over-Allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to
all (at any time) or any part (from time to time) of the Option Units within forty-five (45 days) after the Effective Date. The
Representative will not be under any obligation to purchase any Option Units prior to the exercise of the Over-Allotment Option.
The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which
must be confirmed in accordance with Section 10.1 herein setting forth the number of Option Units to be purchased and the date
and time for delivery of and payment for the Option Units, if other than the Closing Date (the &ldquo;<B>Option Closing Date</B>&rdquo;),
which shall not be earlier than the Closing Date or be later than ten (10) full Business Days after the date of the notice or such
other time as shall be agreed upon by the Company and the Representative, at the offices of the Representative or at such other
place as shall be agreed upon by the Company and the Representative. Upon exercise of the Over-Allotment Option, the Company will
become obligated to convey to the Representative, and, subject to the terms and conditions set forth herein, the Representative
will become obligated to purchase, the number of Option Units specified in such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
and Delivery</U>. Payment for the Option Units shall be made on the Option Closing Date at the Representative&rsquo;s election
by wire transfer in Federal (same day) funds or by certified or bank cashier&rsquo;s check(s) in New York Clearing House funds,
payable as follows: $9.70 per Option Unit shall be deposited in the Trust Fund pursuant to the Trust Agreement upon delivery of
certificates (in form and substance satisfactory to the Representative) representing the Option Units (or through the facilities
of DTC) for the account of the Representative). The certificates representing the Option Units to be delivered will be in such
denominations and registered in such names as the Representative requests not less than two full business days prior to the Closing
Date or the Option Closing Date, as the case may be, and will be made available to the Representative for inspection, checking
and packaging at the aforesaid office of the Company&rsquo;s transfer agent or correspondent not less than one full business day
prior to such Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representative&rsquo;s
Purchase Option</U>. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Closing Date,
for an aggregate purchase price of $100.00, an option (&ldquo;<B>Representative&rsquo;s Purchase Option</B>&rdquo;) to purchase
up to an aggregate of 300,000 Units (the &ldquo;<B>Representative&rsquo;s Units</B>&rdquo;). The Representative&rsquo;s Purchase
Option shall be exercisable whether for cash or on a cashless basis, in whole or in part, commencing on the later of the consummation
of a Business Combination or one year from the Effective Date and expiring on the five-year anniversary of the Effective Date
at an initial exercise price per Representative&rsquo;s Unit of $10.00, which is equal to one hundred percent (100%) of the initial
public offering price per Unit. On the Closing Date, the Company shall deliver to the Representative, upon payment therefor, certificates
for the Representative&rsquo;s Purchase Option in the name or names and in such denominations as the Representative may request.
The Representative&rsquo;s Purchase Option, the Representative&rsquo;s Units, the shares of Common Stock included in the Representative&rsquo;s
Units, the Rights included in the Representative&rsquo;s Units (the <B>&ldquo;Representative&rsquo;s Rights&rdquo;</B>), the Warrants
included in the Representative&rsquo;s Units (the &ldquo;<B>Representative&rsquo;s Warrants</B>&rdquo;) and the shares of Common
Stock issuable pursuant to the terms of the Representative&rsquo;s Rights and upon exercise of the Representative&rsquo;s Warrants
are hereinafter referred to collectively as the &ldquo;<B>Representative&rsquo;s Securities</B>.&rdquo;&nbsp;&nbsp;Delivery and
payment for the Representative&rsquo;s Purchase Option shall be made on the Closing Date. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Private
Placements</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company issued to 1347 Investors LLC (the &ldquo;<B>Sponsor</B>&rdquo;), for aggregate consideration of $25,000, 1,150,000 shares
of Common Stock (the &ldquo;<B>Insider Shares</B>&rdquo;) in a private placement intended to be exempt from registration under
Section 4(2) of the Securities Act of 1933, as amended (the &ldquo;<B>Act</B>&rdquo;). No underwriting discounts, commissions
or placement fees have been or will be payable in connection with the sale of the Insider Shares. The Insider Shares shall be
held in escrow and subject to restrictions on transfer as set forth in the Escrow Agreement (as defined in Section 2.24.3 hereof).
The Sponsor shall have no right to any liquidation distributions with respect to any portion of the Insider Shares in the event
the Company fails to consummate a Business Combination within the required time period except with respect to any funds held outside
of the Trust Account remaining after payment of all fees and expenses. The Sponsor shall not have conversion rights with respect
to the Insider Shares. To the extent that the Over-allotment Option is not exercised by the Underwriters in full or in part, up
to 150,000 of the Insider Shares shall be subject to forfeiture by the Sponsor. The Sponsor will be required to forfeit only a
number of shares of Common Stock necessary to maintain its 20% ownership interest in the shares of Common Stock after giving effect
to the Offering and exercise, if any, of the Underwriters&rsquo; Over-allotment Option (and excluding the purchase of the Private
Units and $15 Exercise Price Sponsor Warrants and any shares purchased in the Offering).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Sponsor has committed, pursuant to Subscription Agreements (as defined in Section 2.24.2 hereof), to purchase from the
Company (i) an aggregate of 180,000 private Units (the &ldquo;<B>Private Units</B>&rdquo;) at a purchase price of $10.00 per
Private Unit and (ii) 600,000 warrants (the &ldquo;$<B>15 Exercise Price Sponsor Warrants</B>&rdquo;) at a purchase price of
$0.50 per $15 Exercise Price Sponsor Warrant, simultaneously with the Closing Date, in a private placement (the
&ldquo;<B>Private Placement</B>&rdquo;) intended to be exempt from registration under the Act. The Sponsor has also committed
to purchase an additional number of Private Units (up to a maximum of 18,000 Private Units) that is necessary to maintain in
the Trust Account an amount equal to $10.00 per Public Security at a purchase price of $10.00 per Private Unit. The purchase
price for the Private Units and $15 Exercise Price Sponsor Warrants to be sold in the Private Placement is being held in
escrow on the date hereof by CST&amp;T. The terms of the Private Units and $15 Exercise Price Sponsor Warrants are described
in the Prospectus (as defined in Section 2.1.1). No underwriting discounts, commissions or placement fees have been or will
be payable in connection with the Private Placement.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Working
Capital; Trust Account Proceeds</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Working
Capital</U>. Upon consummation of the Offering, it is intended that approximately $400,000 of the proceeds from the sale of the
Firm Units, Private Units and $15 Exercise Price Sponsor Warrants will be released to the Company to fund the working capital requirements
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Trust
Account Proceeds</U>. Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination
by the Termination Date (as defined in Section 7.6), interest income on the funds held in the Trust Account may be released to
the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company
and to fund the Company&rsquo;s working capital requirements, all as more fully described in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of the Company</U>.&nbsp; The Company represents and warrants to the Underwriters as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Filing
of Registration Statement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Pursuant
to the Act</U>.&nbsp; The Company has filed with the Securities and Exchange Commission (the
&ldquo;<B>Commission</B>&rdquo;) a registration statement and an amendment or amendments thereto, on Form S-1 (File No.
333-195695), including any related preliminary prospectus (the &ldquo;<B>Preliminary Prospectus</B>&rdquo;, including any
prospectus that is included in the registration statement immediately prior to the effectiveness of the registration
statement), for the registration of the Public Securities under the Act, which registration statement and amendment or
amendments have been prepared by the Company in conformity with the requirements of the Act, and the rules and regulations
(the &ldquo;<B>Regulations</B>&rdquo;) of the Commission under the Act.&nbsp; Except as the context may otherwise require,
such registration statement, as amended, on file with the Commission at the time the registration statement became effective
(&ldquo;<B>Effective Date</B>&rdquo;), including the prospectus, financial statements, schedules, exhibits and all other
documents filed as a part thereof or incorporated therein and all information deemed to be a part thereof as of such time
pursuant to Rule 430A of the Regulations, together with the registration statement filed by the Company pursuant to Rule
462(b) under the Act registering additional Public Securities (the &ldquo;<B>Rule 462(b) Registration
Statement</B>&rdquo;), is hereinafter called the &ldquo;<B>Registration Statement</B>,&rdquo; and the form of the final
prospectus dated the Effective Date included in the Registration Statement (or, if applicable, the form of final prospectus
containing information permitted to be omitted at the time of effectiveness by Rule 430A of the Regulations filed with the
Commission pursuant to Rule 424 of the Regulations), is hereinafter called the &ldquo;<B>Prospectus</B>.&rdquo; For purposes
of this Agreement, &ldquo;<B>Time of Sale</B>&rdquo;, as used in the Act, means 5:00 p.m., New York City time, on the date of
this Agreement. Prior to the Time of Sale, the Company prepared a preliminary prospectus, dated June 27, 2014, for
distribution by the Underwriters (the &ldquo;<B>Statutory Prospectus</B>&rdquo;). Other than the Registration Statement,
together with any correspondence letters between the Company and/or counsel for the Company and the Commission, no other
document with respect to the Registration Statement has heretofore been filed under the Act with the Commission. All of the
Public Securities have been or will be registered under the Act pursuant to the Registration Statement. The Registration
Statement has been declared effective by the Commission on the date hereof. If, subsequent to the date of this Agreement, the
Company or the Representative has determined that at the Time of Sale the Statutory Prospectus included an untrue statement
of a material fact or omitted a statement of material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading and have agreed to provide an opportunity to purchasers of the
Firm Units to terminate their old purchase contracts and enter into new purchase contracts, then the Statutory Prospectus
will be deemed to include any additional information available to purchasers at the time of entry into the first such new
purchase contract.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Pursuant
to the Exchange Act</U>.&nbsp; The Company has filed with the Commission a Registration Statement on Form 8-A (File Number 001-36541)
providing for the registration under the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), of
the Units, Common Stock, Rights and Warrants.&nbsp; The registration of the Units, Common Stock, Rights and Warrants under the
Exchange Act has been declared effective by the Commission on the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Stop Orders, etc.</U>&nbsp; Neither the Commission nor, to the Company&rsquo;s knowledge, any foreign or state regulatory authority
has issued any order or threatened to issue any order preventing or suspending the use of any Statutory Prospectus or Prospectus
or has instituted or, to the best of the Company&rsquo;s knowledge, threatened to institute any proceedings with respect to such
an order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosures
in Registration Statement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>10b-5
Representation</U>.&nbsp; At the time of effectiveness of the Registration Statement (or at the effective time of any post-effective
amendment to the Registration Statement) and at all times subsequent thereto up to the Closing Date, the Registration Statement,
the Statutory Prospectus and the Prospectus contained or will contain all material statements that are required to be stated therein
in accordance with the Act and the Regulations, and did or will, in all material respects, conform to the requirements of the Act
and the Regulations. On the Effective Date and at the Time of Sale, the Registration Statement did not, and on the Closing Date
it will not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein not misleading; on the date of any filing pursuant to Rule&nbsp;424(b) and on
the Closing Date, the Prospectus (together with any supplement thereto) will not include any untrue statement of a material fact
or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and at the Time of Sale, the Statutory Prospectus does not include any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading; provided, however, that the representation and warranty made in this Section&nbsp;2.3.1 does not
apply to statements made or statements omitted in reliance upon and in conformity with written information furnished to the Company
with respect to the Underwriters by the Underwriters expressly for use in the Registration Statement, the Statutory Prospectus
or Prospectus or any amendment thereof or supplement thereto, which information, it is agreed, shall consist solely of the subsection
captioned &ldquo;Pricing of this Offering&rdquo; included in the section captioned &ldquo;Underwriting.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
of Agreements</U>.&nbsp; The agreements and documents described in the Registration Statement, the Statutory Prospectus and the
Prospectus conform to the descriptions thereof contained therein and there are no agreements or other documents required to be
described in the Registration Statement, the Statutory Prospectus or the Prospectus or to be filed with the Commission as exhibits
to the Registration Statement, that have not been so described or filed.&nbsp; Each agreement or other instrument (however characterized
or described) to which the Company is a party or by which its property or business is or may be bound or affected and (i) that
is referred to in the Registration Statement or attached as an exhibit thereto, or (ii) is material to the Company&rsquo;s business,
has been duly and validly executed by the Company, is in full force and effect in all material respects and is enforceable against
the Company and, to the Company&rsquo;s knowledge, the other parties thereto, in accordance with its terms, except (x) as such
enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally,
(y) as enforceability of any indemnification or contribution provision may be limited under the foreign, federal and state securities
laws, and (z) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the
equitable defenses and to the discretion of the court before which any proceeding therefor may be brought, and none of such agreements
or instruments has been assigned by the Company, and neither the Company nor, to the Company&rsquo;s knowledge, any other party
is in breach or default thereunder and, to the Company&rsquo;s knowledge, no event has occurred that, with the lapse of time or
the giving of notice, or both, would constitute a breach or default thereunder.&nbsp; To the Company&rsquo;s knowledge, performance
by the Company of the material provisions of such agreements or instruments will not result in a violation of any existing applicable
law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction
over the Company or any of its assets or businesses, including, without limitation, those relating to environmental laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Prior
Securities Transactions</U>.&nbsp; No securities of the Company have been sold by the Company or by or on behalf of, or for the
benefit of, any person or persons controlling, controlled by, or under common control with the Company since the date of the Company&rsquo;s
formation, except as disclosed in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulations</U>.
The disclosures in the Registration Statement, the Statutory Prospectus and the Prospectus concerning the effects of foreign, federal,
state and local regulation on the Company&rsquo;s business as currently contemplated are correct in all material respects and do
not omit to state a material fact necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Changes
After Dates in Registration Statement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Material Adverse Change</U>.&nbsp; Since the respective dates as of which information is given in the Registration Statement, the
Statutory Prospectus and the Prospectus, except as otherwise specifically stated therein: (i) there has been no material adverse
change in the condition, financial or otherwise, or business prospects of the Company; (ii) there have been no material transactions
entered into by the Company, other than as contemplated pursuant to this Agreement; (iii) no member of the Company&rsquo;s board
of directors or management has resigned from any position with the Company and (iv) no event or occurrence has taken place which
materially impairs, or would likely materially impair, with the passage of time, the ability of the members of the Company&rsquo;s
board of directors or management to act in their capacities with the Company as described in the Registration Statement, the Statutory
Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Recent
Securities Transactions, etc. </U>Subsequent to the respective dates as of which information is given in the Registration Statement,
the Statutory Prospectus and the Prospectus and except as may otherwise be indicated or contemplated herein or therein, the Company
has not: (i) issued any securities or incurred any liability or obligation, direct or contingent, for borrowed money; or (ii)&nbsp;declared
or paid any dividend or made any other distribution on or in respect to its capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Independent
Accountants</U>. &nbsp;BDO USA, LLP (&ldquo;<B>BDO</B>&rdquo;), whose report is filed with the Commission as part of the Registration
Statement and included in the Registration Statement, the Statutory Prospectus and the Prospectus, are independent registered public
accountants as required by the Act, the Regulations and the Public Company Accounting Oversight Board (the &ldquo;<B>PCAOB</B>&rdquo;),
including the rules and regulations promulgated by such entity. To the Company&rsquo;s knowledge, BDO is duly registered and in
good standing with the PCAOB. BDO has not, during the periods covered by the financial statements included in the Registration
Statement, the Statutory Prospectus and the Prospectus, provided to the Company any non-audit services, as such term is used in
Section&nbsp;10A(g) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial
Statements; Statistical Data</U>.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial
Statements</U>. The financial statements, including the notes thereto and supporting schedules included in the Registration Statement,
the Statutory Prospectus and the Prospectus, fairly present in all material respects the financial position and the results of
operations of the Company at the dates and for the periods to which they apply; and such financial statements have been prepared
in conformity with United States generally accepted accounting principles (&ldquo;<B>GAAP</B>&rdquo;), consistently applied throughout
the periods involved; and the supporting schedules included in the Registration Statement present fairly in all material respects
the information required to be stated therein in conformity with the Regulations.&nbsp; No other financial statements or supporting
schedules are required to be included or incorporated by reference in the Registration Statement, the Statutory Prospectus or the
Prospectus. The Registration Statement, the Statutory Prospectus and the Prospectus disclose all material off-balance sheet transactions,
arrangements, obligations (including contingent obligations), and other relationships of the Company with unconsolidated entities
or other persons that may have a material current or future effect on the Company&rsquo;s financial condition, changes in financial
condition, results of operations, prospects, liquidity, capital expenditures, capital resources, or significant components of revenues
or expenses. There are no pro forma or as adjusted financial statements which are required to be included in the Registration Statement,
the Statutory Prospectus or the Prospectus in accordance with Regulation S-X of the Regulations which have not been included as
so required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Statistical
Data</U>. The statistical, industry-related and market-related data included in the Registration Statement, the Statutory Prospectus
and/or the Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable
and accurate, and such data agree with the sources from which they are derived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorized
Capital; Options, etc.</U>&nbsp; The Company had at the date or dates indicated in each of the Registration Statement, the Statutory
Prospectus and the Prospectus, as the case may be, duly authorized, issued and outstanding capitalization as set forth in the Registration
Statement, the Statutory Prospectus and the Prospectus.&nbsp; Based on the assumptions stated in the Registration Statement, the
Statutory Prospectus and the Prospectus, the Company will have on the Closing Date the adjusted stock capitalization set forth
therein. Except as set forth in, or contemplated by, the Registration Statement, the Statutory Prospectus and the Prospectus, on
the Effective Date and on the Closing Date, there will be no options, warrants, or other rights to purchase or otherwise acquire
any authorized, but unissued shares of Common Stock or any security convertible into shares of Common Stock, or any contracts or
commitments to issue or sell shares of Common Stock or any such options, warrants, rights or convertible securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid
Issuance of Securities, etc.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Outstanding
Securities</U>.&nbsp; All issued and outstanding shares of Common Stock of the Company have been duly authorized and validly
issued and are fully paid and non-assessable; the holders thereof have no rights of rescission with respect thereto, and are
not subject to personal liability by reason of being such holders; and none of such securities were issued in violation of
the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company. The
outstanding shares of Common Stock conform to the descriptions thereof contained in the Registration Statement, the Statutory
Prospectus and the Prospectus. All offers, sales and any transfers of the outstanding shares of Common Stock of the Company
were at all relevant times either registered under the Act and the applicable state securities or Blue Sky laws or exempt
from such registration requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Securities
To Be Sold</U>.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">2.8.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Public Securities have been duly authorized and reserved for issuance and when issued and paid for in accordance with this Agreement,
will be validly issued, fully paid and non-assessable; the holders thereof are not and will not be subject to personal liability
by reason of being such holders; the Public Securities are not and will not be subject to the preemptive rights of any holders
of any security of the Company or similar contractual rights granted by the Company; and all corporate action required to be taken
for the authorization, issuance and sale of the Public Securities has been duly and validly taken.&nbsp; The Public Securities
conform in all material respects to the descriptions thereof contained in the Registration Statement, the Statutory Prospectus
and the Prospectus, as the case may be.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">2.8.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
issued, the Representative&rsquo;s Purchase Option, the Representative&rsquo;s Rights and the Representative&rsquo;s Warrants will
constitute the valid and binding obligation of the Company to issue and sell, upon exercise thereof and payment of the exercise
price therefor, the number and type of securities of the Company called for thereby in accordance with the terms thereof and such
Representative&rsquo;s Purchase Option, Representative&rsquo;s Rights and Representative&rsquo;s Warrants is enforceable against
the Company in accordance with its terms, except: (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization
or similar laws affecting creditors&rsquo; rights generally; (ii) as enforceability of any indemnification or contribution provision
may be limited under foreign, federal and state securities laws; and (iii) that the remedy of specific performance and injunctive
and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any
proceeding therefor may be brought. The shares of common stock underlying the Representative&rsquo;s Units, Representative&rsquo;s
Rights and Representative&rsquo;s Warrants have been reserved for issuance upon the exercise of the Representative&rsquo;s Purchase
Option upon payment of the consideration therefore, and when issued in accordance with the terms thereof, will be duly and validly
authorized, validly issued, fully paid and non-assessable; the holders thereof are not and will not be subject to personal liability
by reason of being such holders. The Representative&rsquo;s Securities conform in all material respects to the descriptions thereof
contained in the Registration Statement, the Statutory Prospectus and the Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">2.8.2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Private Units, the Rights included within the Private Units (the &ldquo;<B>Private Rights</B>&rdquo;) and the Warrants included
within the Private Units (the &ldquo;<B>Private Warrants</B>&rdquo;) have been duly authorized and reserved for issuance and when
issued and paid for in accordance with the Subscription Agreements, will be validly issued, fully paid and non-assessable; the
holders thereof are not and will not be subject to personal liability by reason of being such holders; the Private Units, Private
Rights and Private Warrants are not and will not be subject to the preemptive rights of any holders of any security of the Company
or similar contractual rights granted by the Company; and all corporate action required to be taken for the authorization, issuance
and sale of the Private Units, Private Rights and Private Warrants has been duly and validly taken.&nbsp; The Private Units, Private
Rights and Private Warrants conform in all material respects to the descriptions thereof contained in the Registration Statement,
the Statutory Prospectus and the Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">2.8.2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
$15 Exercise Price Sponsor Warrants have been duly authorized and reserved for issuance and when issued and paid for in accordance
with the Subscription Agreements, will be validly issued, fully paid and non-assessable; the holders thereof are not and will not
be subject to personal liability by reason of being such holders; the $15 Exercise Price Sponsor Warrants are not and will not
be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the
Company; and all corporate action required to be taken for the authorization, issuance and sale of the $15 Exercise Price Sponsor
Warrants has been duly and validly taken.&nbsp; The $15 Exercise Price Sponsor Warrants conform in all material respects to the
descriptions thereof contained in the Registration Statement, the Statutory Prospectus and the Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">2.8.2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Insider Shares have been duly authorized, duly and validly issued, fully paid and non-assessable; the holders thereof are not and
will not be subject to personal liability by reason of being such holders; the Insider Shares are not and will not be subject to
the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company; and all
corporate action required to be taken for the authorization, issuance and sale of the Insider Shares has been duly and validly
taken.&nbsp; The Insider Shares conform in all material respects to the descriptions thereof contained in the Registration Statement,
the Statutory Prospectus and the Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Integration</U>. Neither the Company nor any of its affiliates has, prior to the date hereof, made any offer or sale of any securities
which are required to be &ldquo;integrated&rdquo; pursuant to the Act or the Regulations with the offer and sale of the Public
Securities pursuant to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Rights of Third Parties</U>.&nbsp; Except as set forth in the Registration Statement, the Statutory Prospectus and the Prospectus,
no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the
Company have the right to require the Company to register any such securities of the Company under the Act or to include any such
securities in a registration statement to be filed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Validity
and Binding Effect of Agreements</U>.&nbsp; This Agreement, the Trust Agreement, the Subscription Agreements, the Escrow
Agreement, the Services Agreement (as defined in Section&nbsp;2.24.7 hereof), the Rights Agreement (as defined in Section
2.26 hereof), the Warrant Agreement (as defined in Section 2.28 hereof), the Business Combination Marketing Agreement (as
defined in Section 2.27 hereof), the Registration Rights Agreement (as defined in Section 2.24.7) and the
Representative&rsquo;s Purchase Option have been duly and validly authorized by the Company and, when executed and delivered
by the Company and the other parties thereto, will constitute valid and binding agreements of the Company, enforceable
against the Company in accordance with their respective terms, except: (i) as such enforceability may be limited by
bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally; (ii) as enforceability of
any indemnification or contribution provision may be limited under foreign, federal and state securities laws; and (iii) that
the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable
defenses and to the discretion of the court before which any proceeding therefor may be brought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Conflicts, etc.</U>&nbsp; The execution, delivery, and performance by the Company of this Agreement, the Trust Agreement, the Subscription
Agreements, the Escrow Agreement, the Services Agreement, the Rights Agreement, the Warrant Agreement, the Business Combination
Marketing Agreement, the Registration Rights Agreement and the Representative&rsquo;s Purchase Option, the consummation by the
Company of the transactions herein and therein contemplated and the compliance by the Company with the terms hereof and thereof
do not and will not, with or without the giving of notice or the lapse of time or both: (i) result in a breach or violation of,
or conflict with any of the terms and provisions of, or constitute a default under, or result in the creation, modification, termination
or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to the terms of any agreement,
obligation, condition, covenant or instrument to which the Company is a party or bound or to which its property is subject except
pursuant to the Trust Agreement; (ii) result in any violation of the provisions of the Amended and Restated Certificate of Incorporation
or Bylaws of the Company; or (iii) violate any existing applicable statute, law, rule, regulation, judgment, order or decree of
any governmental agency or court, domestic or foreign, having jurisdiction over the Company or any of its properties, business
or assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Defaults; Violations</U>.&nbsp; No material default or violation exists in the due performance and observance of any term, covenant
or condition of any material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other
agreement or instrument evidencing an obligation for borrowed money, or any other material agreement or instrument to which the
Company is a party or by which the Company may be bound or to which any of the properties or assets of the Company is subject.
The Company is not in violation of any term or provision of its Amended and Restated Certificate of Incorporation or in violation
of any franchise, license, permit, applicable law, rule, regulation, judgment or decree of any governmental agency or court, domestic
or foreign, having jurisdiction over the Company or any of its properties or businesses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate
Power; Licenses; Consents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.13.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conduct
of Business</U>.&nbsp; The Company has all requisite corporate power and authority, and has all necessary authorizations, approvals,
orders, licenses, certificates and permits of and from all governmental regulatory officials and bodies that it needs as of the
date hereof to conduct its business for the purposes described in the Registration Statement, the Statutory Prospectus and the
Prospectus.&nbsp; The disclosures in the Registration Statement, the Statutory Prospectus and the Prospectus concerning the effects
of foreign, federal, state and local regulation on this Offering and the Company&rsquo;s business purpose as currently contemplated
are correct in all material respects and do not omit to state a material fact required to be stated therein or necessary in order
to make the statements therein, in light of the circumstances under which they were made, not misleading. Since its formation and
except as described in the Registration Statement, the Company has conducted no business and has incurred no liabilities other
than in connection with its formation and in furtherance of the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.13.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
Contemplated Herein</U>.&nbsp; The Company has all corporate power and authority to enter into this Agreement and to carry out
the provisions and conditions hereof, and all consents, authorizations, approvals and orders required in connection therewith have
been obtained.&nbsp; No consent, authorization or order of, and no filing with, any court, government agency or other body, foreign
or domestic, is required for the valid issuance, sale and delivery, of the Public Securities and Representative&rsquo;s Securities
and the consummation of the transactions and agreements contemplated by this Agreement, the Trust Agreement, the Subscription Agreements,
the Escrow Agreement, the Services Agreement, the Rights Agreement, the Warrant Agreement, the Business Combination Marketing Agreement,
the Registration Rights Agreement and the Representative&rsquo;s Purchase Option and as contemplated by the Registration Statement,
the Statutory Prospectus and Prospectus, except with respect to applicable foreign, federal and state securities laws and the rules
and regulations promulgated by the Financial Industry Regulatory Authority, Inc. (&ldquo;<B>FINRA</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>D&amp;O
Questionnaires</U>. To the Company&rsquo;s knowledge, all information contained in the questionnaires (the &ldquo;<B>Questionnaires</B>&rdquo;)
completed by each of the Company&rsquo;s officers, directors, 5% beneficial owners and owners of unregistered securities acquired
within the past 180 days (the &ldquo;<B>Directors/Officers</B>&rdquo;) immediately prior to the initial filing of the Registration
Statement and provided to the Representative, as such Questionnaires may have been updated from time to time and confirmed by each
of the Directors/Officers, as well as the biographies previously provided to the Representative, is true and correct and the Company
has not become aware of any information which would cause the information disclosed in the Questionnaires to become inaccurate
and incorrect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation;
Governmental Proceedings</U>. There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental
proceeding pending or, to the Company&rsquo;s knowledge, threatened against, or involving the Company or, to the Company&rsquo;s
knowledge, any of the Directors/Officers or any of the Insiders, which has not been disclosed in the Registration Statement, the
Statutory Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Good
Standing</U>.&nbsp; The Company has been duly organized and is validly existing as a corporation and is in good standing under
the laws of its jurisdiction of incorporation and is duly qualified to do business and is in good standing as a foreign corporation
in each jurisdiction in which its ownership or lease of property or the conduct of business requires such qualification, except
where the failure to qualify would not have a material adverse effect on the condition (financial or otherwise), prospects, earnings,
business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set
forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto) (a &ldquo;<B>Material
Adverse Effect</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Contemplation of a Business Combination</U>. Prior to the date hereof, no Company Affiliate (as hereinafter defined) has, and as
of the Closing, the Company and such Company Affiliates will not have: (a) had any specific Business Combination under consideration
or contemplation; (b) directly or indirectly, contacted any potential operating assets, business or businesses which the Company
may seek to acquire (each, a &ldquo;<B>Target Business</B>&rdquo;) or any owner, officer, director, manager, agent or representative
thereof or had any substantive discussions, formal or otherwise, with respect to effecting any potential Business Combination with
the Company or taken any measure, directly or indirectly, to locate a Target Business; or (c) engaged or retained any agent or
other representative to identify or locate any Target Business for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
Affecting Disclosure to FINRA</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in the Registration Statement, the Statutory Prospectus and the Prospectus, there are no claims, payments, arrangements,
agreements or understandings relating to the payment of a finder&rsquo;s, consulting or origination fee by the Company or any Company
Affiliate with respect to the sale of the Public Securities hereunder or any other arrangements, agreements or understandings of
the Company or, to the Company&rsquo;s knowledge, any Insider that may affect the Underwriters&rsquo; compensation, as determined
by FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in the Registration Statement, the Statutory Prospectus and the Prospectus, the Company has not made any direct or
indirect payments (in cash, securities or otherwise) to: (i) any person, as a finder&rsquo;s fee, consulting fee or otherwise,
in consideration of such person raising capital for the Company or introducing to the Company persons who raised or provided capital
to the Company; (ii) to any FINRA member; or (iii) to any person or entity that has any direct or indirect affiliation or association
with any FINRA member, within the 180-day period prior to the initial filing date of the Registration Statement with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Company&rsquo;s knowledge, no officer or director or any direct or indirect beneficial owner of 5% or greater of any class
of the Company&rsquo;s securities, including the Sponsor and holders of securities to be purchased in the Private Placement (whether
debt or equity, registered or unregistered, regardless of the time acquired or the source from which derived) (any such individual
or entity, a &ldquo;<B>Company Affiliate</B>&rdquo;) is a member, a person associated, or affiliated with a member of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Company&rsquo;s knowledge, no Company Affiliate is an owner of stock or other securities of any member of FINRA (other than
securities purchased on the open market).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Company&rsquo;s knowledge, no Company Affiliate has made a subordinated loan to any member of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
proceeds from the sale of the Public Securities, Private Units or $15 Exercise Price Sponsor Warrants (excluding underwriting
compensation) will be paid to any FINRA member, or any persons associated or affiliated with a member of FINRA, except as specifically
authorized herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not issued any warrants or other securities, or granted any options, directly or indirectly to anyone who is a potential
underwriter in the Offering or a related person (as defined by FINRA rules) of such an underwriter within the 180-day period prior
to the initial filing date of the Registration Statement with the Commission, except as disclosed in the Registration Statement,
the Statutory Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Company&rsquo;s knowledge, no person to whom securities of the Company have been privately issued within the 180-day period
prior to the initial filing date of the Registration Statement with the Commission has any relationship or affiliation or association
with any member of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Company&rsquo;s knowledge, no FINRA member intending to participate in the Offering has a conflict of interest (as defined
by FINRA rules) with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
with respect to the Representative in connection with the Offering, the Company has not entered into any agreement or arrangement
(including, without limitation, any consulting agreement or any other type of agreement) during the 180-day period prior to the
initial filing date of the Registration Statement with the Commission, which arrangement or agreement provides for the receipt
of any item of value and/or the transfer or issuance of any warrants, options, or other securities from the Company to a FINRA
member, any person associated with a member (as defined by FINRA rules), any potential underwriters in the Offering and/or any
related persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Taxes</U>.
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.19.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There are no transfer taxes or other similar fees or charges under U.S. federal law or the laws of any U.S. state or any political
subdivision thereof, required to be paid in connection with the execution and delivery of this Agreement or the issuance or sale
by the Company of the Public Securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.19.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company has filed all U.S. federal, state and local tax returns that are required to be a filed or has requested extensions
thereof, except in any case in which the failure to so file would not have a Material Adverse Effect, and has paid all taxes required
to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing in due and
payable, except for any such assessment, fine or penalty that is currently being contested in good faith or as would not have
a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Foreign
Corrupt Practices Act</U>.&nbsp; Neither the Company nor any of the Company Affiliates or any other person acting on behalf of
the Company is aware of or has taken any action, directly or indirectly, that: (i) would result in a violation by such persons
of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &ldquo;<B>FCPA</B>&rdquo;)
or otherwise subject the Company to any damage or penalty in any civil, criminal or governmental litigation or proceeding; (ii)
if not done in the past, might reasonably be expected to have had a Material Adverse Effect or (iii) if not continued in the future,
might reasonably be expected to materially and adversely affect the assets, business or operations of the Company, including, without
limitation, given or agreed to give any money, gift or similar benefit (other than legal price concessions to customers in the
ordinary course of business) to any customer, supplier, employee or agent of a customer or supplier, or official or employee of
any governmental agency or instrumentality of any government (domestic or foreign) or any political party or candidate for office
(domestic or foreign) or any political party or candidate for office (domestic or foreign) or other person who was, is, or may
be in a position to help or hinder the business of the Company (or assist it in connection with any actual or proposed transaction).
The Company&rsquo;s internal accounting controls and procedures are sufficient to cause the Company to comply with the Foreign
Corrupt Practices Act of 1977, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Currency
and Foreign Transactions Reporting Act</U>. The operations of the Company are and have been conducted at all times in material
compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transaction Reporting
Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and
any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively,
the &ldquo;<B>Money Laundering Laws</B>&rdquo;) and no action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the best
knowledge of the Company, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bank
Secrecy Act; Money Laundering; Patriot Act</U>. Neither the Company, nor to the Company&rsquo;s knowledge, any Company Affiliate,
has violated: (i) the Bank Secrecy Act, as amended, (ii) the Money Laundering Laws or (iii) the Uniting and Strengthening of America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, and/or the rules and
regulations promulgated under any such law, or any successor law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Officers&rsquo;
Certificate</U>.&nbsp; Any certificate signed by any duly authorized officer of the Company and delivered to the Representative
or to its counsel shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreements
With Company Affiliates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insider
Letters</U>.&nbsp; The Company has caused to be duly executed legally binding and enforceable agreements (except (i) as such enforceability
may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&rsquo; rights generally, (ii) as enforceability
of any indemnification, contribution or non-compete provision may be limited under foreign, federal and state securities laws,
and (iii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable
defenses and to the discretion of the court before which any proceeding therefor may be brought) in the form annexed as an exhibit&nbsp;to
the Registration Statement (the &ldquo;<B>Insider Letters</B>&rdquo;), pursuant to which each of the Company Affiliates agrees
to certain matters, including but not limited to, the voting of shares of Common Stock held by them and certain matters described
as being agreed to by them under the &ldquo;Proposed Business&rdquo; section&nbsp;of the Registration Statement, the Statutory
Prospectus and Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;Subscription
Agreements</U>. The Sponsor has executed and delivered purchase agreements, the forms of which are annexed as exhibits to the
Registration Statement (individually a &ldquo;<B>Subscription Agreement</B>&rdquo; and collectively, the &ldquo;<B>Subscription
Agreements</B>&rdquo;), pursuant to which the Sponsor has agreed, among other things, to purchase on the Closing Date an aggregate
of 180,000 Private Units (or up to 198,000 Private Units in the event that the Over-allotment Option is exercised in full) and
600,000 $15 Exercise Price Sponsor Warrants in the Private Placement in order to maintain in the Trust Account an amount equal
to $10.00 per Public Security. Pursuant to the Subscription Agreements, the Sponsor has waived any and all rights and claims it
may have to any proceeds, and any interest thereon, held in the Trust Account in respect of the Private Units and $15 Exercise
Price Sponsor Warrants in the event that a Business Combination is not consummated and the Trust Account is liquidated in accordance
with the terms of the Trust Agreement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Escrow
Agreement</U>.&nbsp; The Company has caused the Sponsor to enter into an escrow agreement (the &ldquo;<B>Escrow
Agreement</B>&rdquo;) with CST&amp;T substantially in the form filed as an exhibit to the Registration Statement whereby the
Insider Shares will be held in escrow by CST&amp;T for a period (the &ldquo;<B>Escrow Period</B>&rdquo;) commencing on the
Effective Date and expiring (i) with respect to 50% of the Insider Shares, on the earlier of (x) the one year anniversary of
the consummation of the Business Combination, (y) the date on which the closing price of the Common Stock equals or exceeds
$12.50 per share for any 20 trading days within a 30-trading day period following the consummation of the Business
Combination, and (z) consummation of a Sale Transaction, and (ii) with respect to the remaining 50% of the Insider Shares, on
the earlier of (m) the one year anniversary of the consummation of the Business Combination and (n) consummation of a Sale
Transaction. For purposes hereof, a &ldquo;Sale Transaction&rdquo; means a liquidation, merger, stock exchange or other
similar transaction subsequent to the Company&rsquo;s initial Business Combination which results in all of the stockholders
of the Company or such other entity surviving the Business Combination having the right to exchange their shares of Common
Stock for cash, securities or other property. During the Escrow Period, such parties shall be prohibited from selling or
otherwise transferring such Insider Shares, except in certain limited circumstances set forth in the Escrow Agreement. To the
Company&rsquo;s knowledge, the Escrow Agreement is enforceable against the Sponsor and will not, with or without the giving
of notice or the lapse of time or both, result in a breach of, or conflict with, any of the terms and provisions of, or
constitute a default under, an agreement or instrument to which the Sponsor is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Competition/Solicitation</U>.
To the Company&rsquo;s knowledge, no Directors/Officers are subject to any non-competition agreement or non-solicitation agreement
with any employer or prior employer which could materially affect each Director&rsquo;s/Officer&rsquo;s ability to be and act in
the capacity of a Director/Officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Loans</U>.
The Sponsor has made a loan to the Company in the aggregate amount of $125,000, as such amount may be increased as described in
the Registration Statement (the &ldquo;<B>Insider Loan</B>&rdquo;) pursuant to a promissory note substantially in the form annexed
as an exhibit to the Registration Statement. The Insider Loan does not bear any interest and is repayable by the Company no later
than the date of the consummation of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Rights Agreement</U>. The Company and the Sponsor have entered into a registration rights agreement (&ldquo;<B>Registration Rights
Agreement</B>&rdquo;) substantially in the form annexed as an exhibit to the Registration Statement, whereby the Sponsor will be
entitled to certain registration rights with respect to its securities, as set forth in such Registration Rights Agreement and
described more fully in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.24.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Administrative
Services</U>. The Company has entered into an agreement (&ldquo;<B>Services Agreement</B>&rdquo;) with the Sponsor substantially
in the form annexed as an exhibit to the Registration Statement pursuant to which the Sponsor will make available to the Company,
on the terms and subject to the conditions set forth therein, general and administrative services including office space, utilities
and secretarial support for the Company&rsquo;s use for $10,000 per month payable until the earlier of the consummation by the
Company of a Business Combination or the liquidation of the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Management Trust Agreement</U>.&nbsp; The Company has entered into the Trust Agreement with respect to certain proceeds of the
Offering and the Private Placement substantially in the form filed as an exhibit to the Registration Statement, pursuant to which
the funds held in the Trust Account may be released under limited circumstances. The Trust Agreement shall not be amended, modified
or otherwise changed in any way that modifies the rights or obligations of the Representative without the prior written consent
of the Representative, such consent not to be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
Agreement</U>. The Company has entered into an agreement with respect to the Rights that are to be issued in the Offering with
CST&amp;T substantially in the form filed as an exhibit to the Registration Statement (the &ldquo;<B>Rights Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Business
Combination Marketing Agreement</U>. The Company and the Representative have entered into a separate business combination marketing
agreement substantially in the form filed as an exhibit to the Registration Statement (the &ldquo;<B>Business Combination Marketing
Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrant
Agreement</U>. The Company has entered into a warrant agreement with respect to the Warrants, Representative&rsquo;s Warrants
and Private Warrants with CST&amp;T substantially in the form filed as an exhibit to the Registration Statement (the &ldquo;<B>Warrant
Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.29.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investments</U>.&nbsp;
No more than 45% of the &ldquo;value&rdquo; (as defined in Section&nbsp;2(a)(41) of the Investment Company Act of 1940 (&ldquo;<B>Investment
Company Act</B>&rdquo;)) of the Company&rsquo;s total assets (exclusive of cash items and &ldquo;Government Securities,&rdquo;
as defined in Section 2(a)(16) of the Investment Company Act) consist of, and no more than 45% of the Company&rsquo;s net income
after taxes is derived from, securities other than Government Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Company Act</U>. The Company is not required, and upon the issuance and sale of the Public Securities as herein contemplated and
the application of the net proceeds therefrom as described in the Prospectus will not be required, to register as an &ldquo;investment
company&rdquo; under the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.31.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subsidiaries</U>.&nbsp;
The Company does not own an interest in any corporation, partnership, limited liability company, joint venture, trust or other
business entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.32.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Related
Party Transactions</U>.&nbsp; No relationship, direct or indirect, exists between or among any of the Company or any Company Affiliate,
on the one hand, and any director, officer, shareholder, customer or supplier of the Company or any Company Affiliate, on the other
hand, which is required by the Act, the Exchange Act or the Regulations to be described in the Registration Statement, the Statutory
Prospectus and the Prospectus, which is not so described as required. There are no outstanding loans, advances or guarantees of
indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective
family members, except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus. The Company has
not extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal
loan to or for any director or officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.33.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Influence</U>. The Company has not offered, or caused the Underwriters to offer, the Firm Units to any person or entity with the
intention of unlawfully influencing: (a) a customer or supplier of the Company or any affiliate of the Company to alter the customer&rsquo;s
or supplier&rsquo;s level or type of business with the Company or such affiliate or (b) a journalist or publication to write or
publish favorable information about the Company or any such affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.34.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sarbanes-Oxley</U>.
The Company is in material compliance with the provisions of the Sarbanes-Oxley Act of 2002, as amended (&ldquo;<B>SOX</B>&rdquo;),
and the rules and regulations promulgated thereunder and related or similar rules and regulations promulgated by any governmental
or self regulatory entity or agency, that are applicable to it as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.35.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Nasdaq
Eligibility</U>. As of the Effective Date, the Public Securities have been approved for listing on the Nasdaq Capital Markets (&ldquo;<B>NASDAQ</B>&rdquo;),
subject to official notice of issuance and evidence of satisfactory distribution. There is and has been no failure on the part
of the Company or any of the Company's directors or officers, in their capacities as such, to comply with (as and when applicable),
and immediately following the effectiveness of the Registration Statement the Company will be in compliance with, the NASDAQ Marketplace
Rules, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.36.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Emerging
Growth Status</U>. From the date of the Company&rsquo;s formation through the date hereof, the Company has been and is an &ldquo;emerging
growth company,&rdquo; as defined in Section 2(a) of the Act (an &ldquo;Emerging Growth Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.37.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Testing-The-Waters
Communications</U>. The Company (a) has not engaged in any Testing-the-Waters Communication and (b) has not authorized anyone to
engage in Testing-the-Waters Communications. &ldquo;Testing-the-Waters Communication&rdquo; means any oral or written communication
with potential investors undertaken in reliance on Section 5(d) of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.38.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definition
of &ldquo;Knowledge&rdquo;</U>. As used in herein, the term &ldquo;<B>knowledge of the Company</B>&rdquo; (or similar language)
shall mean the knowledge of the Company&rsquo;s Directors/Officers, with the assumption that such officers and directors shall
have made reasonable and diligent inquiry of the matters presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Covenants
of the Company</U>.&nbsp; The Company covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments
to Registration Statement</U>.&nbsp; The Company will deliver to the Representative, prior to filing, any amendment or supplement
to the Registration Statement or Prospectus proposed to be filed after the Effective Date and shall not file any such amendment
or supplement to which the Representative shall reasonably object in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Federal
Securities Laws</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance</U>.&nbsp;
During the time when a prospectus is required to be delivered under the Act, the Company will use all reasonable efforts to
comply with all requirements imposed upon it by the Act, the Regulations and the Exchange Act and by the regulations under
the Exchange Act, as from time to time in force, so far as necessary to permit the continuance of sales of or dealings in the
Public Securities in accordance with the provisions hereof and the Prospectus.&nbsp; If at any time when a Prospectus
relating to the Public Securities is required to be delivered under the Act, any event shall have occurred as a result of
which, in the opinion of counsel for the Company or counsel for the Underwriters, the Statutory Prospectus and the
Prospectus, as then amended or supplemented includes an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading, or if it is necessary during such period to amend the Registration Statement or amend or
supplement the Statutory Prospectus and Prospectus to comply with the Act, the Company will notify the Representative
promptly and prepare and file with the Commission, subject to Section&nbsp;3.1 hereof, an appropriate amendment to the
Registration Statement or amendment or supplement to the Statutory Prospectus and Prospectus (at the expense of the Company)
so as to correct such statement or omission or effect such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Filing
of Final Prospectus</U>.&nbsp; The Company will promptly file the Prospectus (in form and substance satisfactory to the Representative)
with the Commission pursuant to the requirements of Rule 424 of the Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exchange
Act Registration</U>.&nbsp; For a period of five years from the Effective Date (except in connection with a going private transaction),
or until such earlier time upon which the Trust Account is to be liquidated if a Business Combination has not been consummated
by the Termination Date: the Company (i) will use its best efforts to maintain the registration of the shares of Common Stock and
Warrants under the provisions of the Exchange Act and (ii) will not deregister the shares of Common Stock and Warrants under the
Exchange Act without the prior written consent of the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Free
Writing Prospectuses</U>. The Company represents and agrees that it has not made and will not make any offer relating to the Public
Securities<B> </B>that would constitute an issuer free writing prospectus, as defined in Rule 433 under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sarbanes-Oxley
Compliance</U>. As soon as it is legally required to do so, the Company shall take all actions necessary to obtain and thereafter
maintain material compliance with each applicable provision of SOX and the rules and regulations promulgated thereunder and related
or similar rules and regulations promulgated by any other governmental or self regulatory entity or agency with jurisdiction over
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Emerging
Growth Company Status</U>. The Company will promptly notify the Representative if the Company ceases to be an Emerging Growth
Company at any time prior to the earlier of five years after the consummation of the Company&rsquo;s initial Business Combination,
or the liquidation of the Trust Account if a Business Combination is not consummated by the Termination Date.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Materials to Underwriters</U>.&nbsp; The Company will deliver to each of the several Underwriters, without charge and from time
to time during the period when a prospectus is required to be delivered under the Act or the Exchange Act, such number of copies
of each Statutory Prospectus, the Prospectus and all amendments and supplements to such documents as such Underwriters may reasonably
request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effectiveness
and Events Requiring Notice to the Representative</U>.&nbsp; The Company will use its best efforts to cause the Registration Statement
to remain effective and will notify the Representative immediately and confirm the notice in writing: (i)&nbsp;of the effectiveness
of the Registration Statement and any amendment thereto; (ii) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement, or any post-effective amendment thereto or preventing or suspending the use of any
Preliminary Prospectus or the Prospectus or of the initiation, or the threatening, of any proceeding for that purpose; (iii) of
the issuance by any foreign or state securities commission of any proceedings for the suspension of the qualification of the Public
Securities for offering or sale in any jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose;
(iv) of the mailing and delivery to the Commission for filing of any amendment or supplement to the Registration Statement or Prospectus;
(v) of the receipt of any comments or request for any additional information from the Commission; and (vi) of the happening of
any event during the period described in this Section&nbsp;3.5 hereof that, in the judgment of the Company or its counsel, makes
any statement of a material fact made in the Registration Statement, the Statutory Prospectus or the Prospectus untrue or that
requires the making of any changes in the Registration Statement, the Statutory Prospectus and Prospectus in order to make the
statements therein, (with respect to the Prospectus and the Statutory Prospectus and in light of the circumstances under which
they were made), not misleading.&nbsp; If the Commission or any foreign or state securities commission shall enter a stop order
or suspend such qualification at any time, the Company will make every reasonable effort to obtain promptly the lifting of such
order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Review
of Financial Statements</U>.&nbsp; Until the earlier of five years from the Effective Date, or until the liquidation of the Trust
Account if a Business Combination is not consummated by the Termination Date, the Company, at its expense, shall cause its regularly
engaged independent certified public accountants to review (but not audit) the Company&rsquo;s financial statements for each of
the first three fiscal quarters prior to the announcement of quarterly financial information and the filing of the Company&rsquo;s
Form 10-Q quarterly report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Affiliated
Transactions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Business
Combinations</U>.&nbsp; The Company will not consummate a Business Combination with an entity that is affiliated with the Sponsor
or any officer or director (each an &ldquo;<B>Insider</B>&rdquo;) unless in each case the Company obtains an opinion from an independent
investment banking firm that the Business Combination is fair to the Company&rsquo;s shareholders from a financial point of view
and a majority of the Company&rsquo;s disinterested and independent directors (if there are any) approve such transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Services
Agreement</U>. The Company has entered into the Services Agreement with the Sponsor pursuant to which the Sponsor will make available
to the Company general and administrative services including office space, utilities and secretarial support for the Company&rsquo;s
use for $10,000 per month, subject to adjustment as provided for in the Services Agreement. Prior to the consummation of a Business
Combination, the Company shall not enter into any other arrangement for the provision of such services with any Insider that will
require the Company to pay in excess of $10,000 per month for such services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation</U>.&nbsp;
Except as disclosed in the Registration Statement, the Company shall not pay any Insider or Company Affiliate or any of their affiliates
any fees or compensation for services rendered to the Company prior to, or in connection with, this Offering or the consummation
of a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Secondary
Market Trading and Standard &amp; Poor&rsquo;s</U>. If the Company does not maintain the listing of the Public Securities on NASDAQ
or another national securities exchange, the Company will (i) apply to be included in Standard &amp; Poor&rsquo;s Daily News and
Corporation Records Corporate Descriptions for a period of five years from the consummation of a Business Combination, (ii) take
such commercially reasonable steps as may be necessary to obtain a secondary market trading exemption for the Company&rsquo;s securities
in the State of California and (iii) take such other action as may be reasonably requested by the Representative to obtain a secondary
market trading exemption in such other states as may be requested by the Representative; provided that no qualification shall be
required in any jurisdiction where, as a result thereof, the Company would be subject to service of general process or to taxation
as a foreign corporation doing business in such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investor
Relations Firm</U>. Promptly after the execution of a definitive agreement for a Business Combination, the Company shall retain
an investor relations firm with the expertise necessary to assist the Company both before and after the consummation of the Business
Combination for a term to be agreed upon by the Company and the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reports
to the Representative</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Periodic
Reports, etc.</U>&nbsp; For a period of five years from the Effective Date or until such earlier time upon which the Company is
required to be liquidated and dissolved, the Company will furnish to the Representative and its counsel copies of such financial
statements and other periodic and special reports as the Company from time to time furnishes generally to holders of any class
of its securities, and promptly furnish to the Representative: (i) a copy of each periodic report the Company shall be required
to file with the Commission; (ii) a copy of every press release and every news item and article&nbsp;with respect to the Company
or its affairs which was released by the Company; (iii)&nbsp;a copy of each Current Report on Form 8-K and any Schedules 13D, 13G,
14D-1 or 13E-4 received or prepared by the Company; (iv) five copies of each registration statement filed by the Company with the
Commission under the Securities Act; and (v)&nbsp;such additional documents and information with respect to the Company and the
affairs of any future subsidiaries of the Company as the Representative may from time to time reasonably request; provided that
the Representative shall sign, if requested by the Company, a Regulation FD compliant confidentiality agreement which is reasonably
acceptable to the Representative and its counsel in connection with the Representative&rsquo;s receipt of such information. Documents
filed with the Commission pursuant to Electronic Data Gathering, Analysis and Retrieval System (<B>&ldquo;EDGAR&rdquo;</B>) shall
be deemed to have been delivered to the Representative pursuant to this section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
a period of five years following the Effective Date or until such earlier time upon which the Company is required to be liquidated,
the Company shall retain a transfer and warrant agent acceptable to the Representative. CST&amp;T is acceptable to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Expenses</U>.&nbsp; The Company hereby agrees to pay on each of the Closing Date and the Option Closing Date, if any, to the
extent not paid at Closing Date, or such later date as may be agreed to by the Representative in its sole discretion, all fees
and expenses incident to the performance of the obligations of the Company under this Agreement, including, but not limited to:
(i) the preparation, printing, filing and mailing (including the payment of postage with respect to such mailing) of the Registration
Statement, the Statutory Prospectus, and the final Prospectus and mailing of this Agreement and related documents, including the
cost of all copies thereof and any amendments thereof or supplements thereto supplied to the Underwriters in quantities as may
be required by the Underwriters; (ii) the printing, engraving, issuance and delivery of the Units, shares of Common Stock, Rights
and Warrants included in the Units, including any transfer or other taxes payable thereon; (iii) NASDAQ filing fees or, if necessary,
the qualification of the Public Securities under state or foreign securities or Blue Sky laws; (iv) fees and expenses (including
legal fees of the Representative not to exceed $15,000) incurred in registering the Offering with FINRA; (v) fees and disbursements
of the transfer and warrant agent; (vi) the preparation and delivery of transaction lucite cubes or similar commemorative items
in a style and quantity as reasonably requested by the Representative (not to exceed $3,000); (vii) all costs and expenses of the
Company associated with &ldquo;road show&rdquo; marketing and &ldquo;due diligence&rdquo; trips for the Company&rsquo;s management
to meet with prospective investors, including without limitation, all travel, food and lodging expenses associated with such trips
incurred by the Company or such management; and (viii) all other costs and expenses customarily borne by an issuer incident to
the performance of its obligations hereunder which are not otherwise specifically provided for in this Section&nbsp;3.12. The Company
also agrees that it will pay for an investigative search firm of the Representative&rsquo;s choice to conduct an investigation
of the principals of the Company as shall be mutually selected by the Representative and the Company (not to exceed $3,000 per
principal). The Representative may deduct from the net proceeds of the Offering payable to the Company on the Closing Date the
expenses set forth above (which shall be mutually agreed upon between the Company and the Representative prior to Closing) to be
paid by the Company to the Representative and others. As of the date hereof, the Company has paid $25,000 to the Representative.
The Representative shall retain such part of the advance previously paid as shall equal its actual out-of-pocket expenses and refund
the balance, if any. Additionally, if the Offering is not consummated because the Company has materially breached any of its obligations
hereunder, then the Company shall reimburse the Representative in full for its out-of-pocket accountable expenses actually incurred
through such date, including, without limitation, fees of counsel to the Representative (which legal fees shall not exceed $100,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Application
of Net Proceeds</U>.&nbsp; The Company will apply the net proceeds from this Offering received by it in a manner substantially
consistent with the application described under the caption &ldquo;Use of Proceeds&rdquo; in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Earnings Statements to Security Holders</U>.&nbsp; The Company will make generally available to its security holders as
soon as practicable, but not later than the first day of the sixteenth full calendar month following the Effective Date, an
earnings statement (which need not be certified by independent public or independent certified public accountants unless
required by the Act or the Regulations, but which shall satisfy the provisions of Rule 158(a) under Section&nbsp;11(a) of the
Act) covering a period of at least twelve consecutive months beginning after the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
to FINRA</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.14.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assistance
with Business Combination</U>. For a period of ninety days following the Effective Date, in the event any person or entity (regardless
of any FINRA affiliation or association) is engaged to assist the Company in its search for a Business Combination candidate or
to provide any similar Business Combination-related services, the Company will provide the following information (the &ldquo;<B>Business
Combination Information</B>&rdquo;) to the Representative:&nbsp; (i)&nbsp;complete details of all services and copies of agreements
governing such services (which details or agreements may be appropriately redacted to account for privilege or confidentiality
concerns); and (ii)&nbsp;justification as to why the person or entity providing the Business Combination-related services should
not be considered an &ldquo;underwriter and related person&rdquo; with respect to the Company&rsquo;s initial public offering,
as such term is defined in Rule 5110 of FINRA&rsquo;s Conduct Rules.&nbsp; The Company also agrees that&nbsp;proper disclosure
of such arrangement or potential arrangement will be made in the proxy statement which the Company will file for purposes of soliciting
shareholder approval for the Business Combination. Upon the Company&rsquo;s delivery of the Business Combination Information to
the Representative, the Company hereby expressly authorizes the Representative to provide such information directly to FINRA as
a result of representations the Representative have made to FINRA in connection with the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.14.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Broker/Dealer</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event the Company intends to register as a broker/dealer, merge with or acquire a registered broker/dealer, or otherwise
become a member of FINRA, it shall promptly notify FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stabilization</U>.&nbsp;Neither
the Company, nor, to its knowledge, any of its employees, officers, directors or shareholders (without the consent of the Representative)
has taken or will take, directly or indirectly, any action designed to or that has constituted or that might reasonably be expected
to cause or result in, under the Exchange Act, or otherwise, stabilization or manipulation of the price of any security of the
Company to facilitate the sale or resale of the Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Internal
Controls</U>.&nbsp; From and after the Closing Date, the Company will maintain a system of internal accounting controls sufficient
to provide reasonable assurances that: (i) transactions are executed in accordance with management&rsquo;s general or specific
authorization; (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance
with GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management&rsquo;s
general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable
intervals and appropriate action is taken with respect to any differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accountants</U>.&nbsp;
For a period of five years from the Effective Date or until such earlier time upon which the Trust Account is required to be liquidated,
the Company shall retain BDO or other independent public accountants reasonably acceptable to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
8-K&rsquo;s</U>.&nbsp; The Company has retained BDO to audit the financial statements of the Company as of the Closing Date (the
&ldquo;<B>Audited Financial Statements</B>&rdquo;) reflecting the receipt by the Company of the proceeds of the Offering and the
Private Placement.&nbsp; Within four (4) Business Days of the Closing Date, the Company shall file a Current Report on Form 8-K
with the Commission, which Report shall contain the Company&rsquo;s Audited Financial Statements. If the Over-Allotment Option
has not been exercised on the Effective Date, the Company will also file an amendment to the Form 8-K, or a new Form 8-K, to provide
updated financial information of the Company to reflect the exercise and consummation of the Over-Allotment Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>FINRA</U>.&nbsp;
Until the Option Closing Date, if any, the Company shall advise the Representative if it is aware that any 5% or greater shareholder
of the Company becomes an affiliate or associated person of a FINRA member participating in the distribution of the Public Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate
Proceedings</U>. All corporate proceedings and other legal matters necessary to carry out the provisions of this Agreement and
the transactions contemplated hereby shall have been done to the reasonable satisfaction to counsel for the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Company</U>. The Company shall cause the proceeds of the Offering to be held in the Trust Account to be invested only as set forth
in the Trust Agreement as in effect on the date hereof and disclosed in the Prospectus. The Company will otherwise conduct its
business in a manner so that it will not become subject to the Investment Company Act. Furthermore, once the Company consummates
a Business Combination, it will be engaged in a business other than that of investing, reinvesting, owning, holding or trading
securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Press
Releases</U>. The Company agrees that it will not issue press releases or engage in any other publicity, without the Representative&rsquo;s
prior written consent (not to be unreasonably withheld), for a period of twenty-five (25) days after the Closing Date; provided
that in no event shall the Company be prohibited from issuing any press release or engaging in any other publicity required by
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Electronic
Prospectus</U>.&nbsp;&nbsp;&nbsp;&nbsp;The Company shall cause to be prepared and delivered to the
Representative, at its expense, promptly, but in no event later than two (2) Business Days from the effective date of this Agreement,
an Electronic Prospectus to be used by the Underwriters in connection with the Offering. As used herein, the term &ldquo;<B>Electronic
Prospectus</B>&rdquo; means a form of prospectus, and any amendment or supplement thereto, that meets each of the following conditions:
(i) it shall be encoded in an electronic format, satisfactory to the Representative, that may be transmitted electronically by
the other Underwriters to offerees and purchasers of the shares of Common Stock for at least the period during which a Prospectus
relating to the shares of Common Stock is required to be delivered under the Act; (ii) it shall disclose the same information
as the paper prospectus and prospectus filed pursuant to EDGAR, except to the extent that graphic and image material cannot be
disseminated electronically, in which case such graphic and image material shall be replaced in the electronic prospectus with
a fair and accurate narrative description or tabular representation of such material, as appropriate; and (iii) it shall be in
or convertible into a paper format or an electronic format, satisfactory to the Representative, that will allow recipients thereof
to store and have continuously ready access to the prospectus at any future time, without charge to such recipients (other than
any fee charged for subscription to the Internet as a whole and for on-line time). The Company hereby confirms that it has included
or will include in the Prospectus filed pursuant to EDGAR or otherwise with the Commission and in the Registration Statement at
the time it was declared effective an undertaking that, upon receipt of a request by an investor or his or her representative
within the period when a prospectus relating to the shares of Common Stock is required to be delivered under the Act, the Company
shall transmit or cause to be transmitted promptly, without charge, a paper copy of the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Future
Financings</U>. The Company agrees that neither it, nor any successor or subsidiary of the Company, will consummate any public
or private equity or debt financing prior to or in connection with the consummation of a Business Combination, unless all investors
in such financing expressly waive, in writing, any rights in or claims against the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>NASDAQ
Maintenance</U>. Until the consummation of a Business Combination, the Company will use commercially reasonable efforts to maintain
the listing by NASDAQ of the Units and the Common Stock, Rights and Warrants included within the Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Private
Placement Proceeds</U>. On the Closing Date and the Option Closing Date, the Company shall cause the proceeds from the sale of
the Private Units and $15 Exercise Price Sponsor Warrants in the Private Placement to be deposited in the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Shares</U>.&nbsp;&nbsp;The Company will reserve and keep available that maximum number of its authorized but unissued securities
which are issuable upon exercise of the Warrants, the Private Warrants, the Representative&rsquo;s Purchase Option and the Representative&rsquo;s
Warrants and underlying the Rights, the Private Rights and the Representative&rsquo;s Rights outstanding from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
of Underwriters&rsquo; Obligations</U>.&nbsp; The obligations of the several Underwriters to purchase and pay for the Public Securities,
as provided herein, shall be subject to the continuing accuracy of the representations and warranties of the Company as of the
date hereof and as of the Closing Date and the Option Closing Date, if any, to the accuracy of the statements of officers of the
Company made pursuant to the provisions hereof and to the performance by the Company of its obligations hereunder and to the following
conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulatory
Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effectiveness
of Registration Statement</U>.&nbsp; The Registration Statement shall have become effective not later than 5:00 p.m., New York
time, on the date of this Agreement or such later date and time as shall be consented to in writing by the Representative, and,
at the Closing Date, no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings
for the purpose shall have been instituted or shall be pending or contemplated by the Commission and any request on the part of
the Commission for additional information shall have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>FINRA
Clearance</U>.&nbsp; By the Effective Date, the Representative shall have received clearance from FINRA as to the amount of compensation
allowable or payable to the Underwriters as described in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Commission Stop Order</U>. At the Closing Date, the Commission has not issued any order or threatened to issue any order preventing
or suspending the use of any Preliminary Prospectus, the Prospectus or any part thereof, and has not instituted or, to the Company&rsquo;s
knowledge, threatened to institute any proceedings with respect to such an order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>NASDAQ
Listing</U>. The Public Securities shall have been approved for listing on NASDAQ, subject to official notice of issuance and evidence
of satisfactory distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
Counsel Matters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Opinion
of Company Counsel</U>.&nbsp; On each of the Closing Date or the Option Closing Date, if any, the Representative shall have received
the favorable opinion of McDermott Will &amp; Emery LLP dated as of the Closing Date, addressed to the Representative as representative
for the several Underwriters and in form mutually agreed to by the Company and the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance</U>.&nbsp;
In rendering such opinion, such counsel may rely: (i) as to matters involving the application of laws other than the laws of
the United States and jurisdictions in which they are admitted, to the extent such counsel deems proper and to the extent
specified in such opinion, if at all, upon an opinion or opinions (in form and substance reasonably satisfactory to the
Representative) of other counsel reasonably acceptable to the Representative, familiar with the applicable laws; and
(ii)&nbsp;as to matters of fact, to the extent they deem proper, on certificates or other written statements of officers of
the Company and officers of departments of various jurisdiction having custody of documents respecting the corporate
existence or good standing of the Company, provided that copies of any such statements or certificates shall be delivered to
the Underwriters&rsquo; counsel if requested.&nbsp; The opinion of counsel for the Company and any opinion relied upon by
such counsel for the Company shall include a statement to the effect that it may be relied upon by counsel for the
Underwriters in its opinion delivered to the Underwriters.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.3.&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;<U>Cold Comfort Letter</U>.&nbsp; At the time this Agreement is executed, and at the Closing Date and
Option Closing Date, if any, the Representative shall have received a letter, addressed to the Representative as
representative for the several Underwriters and in form and substance satisfactory in all respects (including the
non-material nature of the changes or decreases, if any, referred to in clause (iii) below) to the Representative from BDO
dated, respectively, as of the date of this Agreement and as of the Closing Date and Option Closing Date, if any:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confirming
that they are independent accountants with respect to the Company within the meaning of the Act and the applicable Regulations
and that they have not, during the periods covered by the financial statements included in the Registration Statement and the Prospectus,
provided to the Company any non-audit services, as such term is used in Section&nbsp;10A(g) of the Exchange Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stating
that in their opinion the financial statements of the Company included in the Registration Statement and the Prospectus comply
as to form in all material respects with the applicable accounting requirements of the Act and the published Regulations thereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stating
that, on the basis of a limited review which included a reading of the latest available unaudited interim financial statements
of the Company (with an indication of the date of the latest available unaudited interim financial statements), a reading of the
latest available minutes of the shareholders and board of directors and the various committees of the board of directors, consultations
with officers and other employees of the Company responsible for financial and accounting matters and other specified procedures
and inquiries, nothing has come to their attention which would lead them to believe that: (a) the unaudited financial statements
of the Company included in the Registration Statement and the Prospectus do not comply as to form in all material respects with
the applicable accounting requirements of the Act and the Regulations or are not fairly presented in conformity with GAAP applied
on a basis substantially consistent with that of the audited financial statements of the Company included in the Registration Statement,
the Statutory Prospectus and the Prospectus; or (b) at a date immediately prior to the Effective Date or Closing Date, as the case
may be, there was any change in the capital stock or long-term debt of the Company, or any decrease in the shareholders&rsquo;
equity of the Company as compared with amounts shown in the April 18, 2014 balance sheet included in the Registration Statement,
other than as set forth in or contemplated by the Registration Statement, or, if there was any decrease, setting forth the amount
of such decrease, and (c) during the period from April 18, 2014 to a specified date immediately prior to the Effective Date or
Closing Date, as the case may be, there was any changes in revenues, net earnings (losses), or net earnings (losses) per share
of Common Stock, in each case as compared with the Statement of Operations for the period from April 15, 2014 (Inception) to April
18, 2014 included in the Registration Statement, or, if there was any such change, setting forth the amount of such change;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stating
that they have compared specific dollar amounts, numbers of shares, percentages of revenues and earnings, statements and other
financial information pertaining to the Company set forth in the Registration Statement in each case to the extent that such amounts,
numbers, percentages, statements and information may be derived from the general accounting records, including work sheets, of
the Company and excluding any questions requiring an interpretation by legal counsel, with the results obtained from the application
of specified readings, inquiries and other appropriate procedures (which procedures do not constitute an examination in accordance
with generally accepted auditing standards) set forth in the letter and found them to be in agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements
as to such other matters incident to the transaction contemplated hereby as the Representative may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Officers&rsquo;
Certificates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Officers&rsquo;
Certificate</U>.&nbsp; As of each of the Closing Date and the Option Closing Date, if any, the Representative shall have received
a certificate of the Company signed by the Chairman of the Board or President and the Secretary or Assistant Secretary of the Company
(in their capacities as such), respectively, to the effect that the Company has performed all covenants and complied with all conditions
required by this Agreement to be performed or complied with by the Company prior to and as of the Closing Date and that the conditions
set forth in Section&nbsp;4.1.5 hereof have been satisfied as of such date and that, as of Closing Date, the representations and
warranties of the Company set forth in Section&nbsp;2 hereof are true and correct.&nbsp; In addition, the Representative will have
received such other and further certificates of officers of the Company as the Representative may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Secretary&rsquo;s
Certificate</U>.&nbsp; As of each of the Closing Date and the Option Closing Date, if any, the Representative shall have received
a certificate of the Company signed by the Secretary or Assistant Secretary of the Company, respectively, certifying: (i) that
the Amended and Restated Certificate of Incorporation and Bylaws of the Company are true and complete, have not been modified and
are in full force and effect; (ii) that the resolutions relating to the Offering are in full force and effect and have not been
modified; (iii) all correspondence between the Company or its counsel and the Commission; (iv) all correspondence between the Company
or its counsel and NASDAQ; and (v) as to the incumbency of the officers of the Company.&nbsp; The documents referred to in such
certificate shall be attached to such certificate.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Material Changes</U>.&nbsp; Prior to each of the Closing Date and the Option Closing Date, if any: (i) there shall have been no
material adverse change or development involving a material adverse change in the condition or prospects or the business activities,
financial or otherwise, of the Company from the latest dates as of which such condition is set forth in the Registration Statement,
the Statutory Prospectus and Prospectus; (ii) no action suit or proceeding, at law or in equity, shall have been pending or threatened
against the Company or any Company Affiliate before or by any court or foreign, federal or state commission, board or other administrative
agency wherein an unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or
financial condition or income of the Company, except as set forth in the Registration Statement, the Statutory Prospectus and Prospectus;
(iii) no stop order shall have been issued under the Act against the Company and no proceedings therefor shall have been initiated
or threatened by the Commission; and (iv) the Registration Statement, the Statutory Prospectus and the Prospectus and any amendments
or supplements thereto shall contain all material statements which are required to be stated therein in accordance with the Act
and the Regulations and shall conform in all material respects to the requirements of the Act and the Regulations, and none of
the Registration Statement, the Statutory Prospectus or the Prospectus, or any amendment or supplement thereto shall contain any
untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the
statements therein (in the case of the Statutory Prospectus and Prospectus, in light of the circumstances under which they were
made), not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Agreements</U>. On the Effective Date, the Company shall have delivered to the Representative executed copies of the Trust Agreement,
the Subscription Agreements, the Escrow Agreement, the Services Agreement, the Rights Agreement, the Warrant Agreement, the Business
Combination Marketing Agreement, the Registration Rights Agreement and all of the Insider Letters. On the Closing Date, the Company
shall have delivered to the Representative the Representative&rsquo;s Purchase Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">4.1.6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with a Business Combination, the Company will not authorize any disbursement of the funds in the Trust Account without
the prior written approval of the Representative (which will not be unreasonably withheld).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Private
Units; $15 Exercise Price Sponsor Warrants</U>. On the Closing Date and the Option Closing Date, the Sponsor shall have purchased
the Private Units and $15 Exercise Price Sponsor Warrants as provided for in the Subscription Agreements and the purchase price
for such securities shall be deposited into the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of Underwriters</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.&nbsp;
Subject to the conditions set forth below, the Company agrees to indemnify and hold harmless each of the Underwriters and each
dealer selected by the Representative that participates in the offer and sale of the Public Securities (each a &ldquo;<B>Selected
Dealer</B>&rdquo;) and each of their respective directors, officers, partners and employees and each person, if any, who controls
any such Underwriter or Selected Dealer (&ldquo;<B>Controlling Person</B>&rdquo;) within the meaning of Section&nbsp;15 of the
Act or Section&nbsp;20(a) of the Exchange Act, and its counsel, against any and all loss, liability, claim, 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, commenced or&nbsp;threatened, or any claim whatsoever, whether arising out of any action between
any of the Underwriters and the Company or between any of the Underwriters and any third party or otherwise) to which they or any
of them may become subject under the Act, the Exchange Act or any other foreign, federal, state or local statute, law, rule, regulation
or ordinance or at common law or otherwise or under the laws, rules and regulation of foreign countries, arising out of or based
upon any untrue statement or alleged untrue statement of a material fact contained in (i) any Preliminary Prospectus, the Registration
Statement, or the Prospectus (as from time to time each may be amended and supplemented); (ii) in any post-effective amendment
or amendments or any new registration statement and prospectus relating to any of the Public Securities; or (iii) any application
or other document or written communication (in this Section&nbsp;5 collectively called &ldquo;<B>application</B>&rdquo;) executed
by the Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Public Securities
under the securities laws thereof or filed with the Commission, any foreign or state securities commission or agency, NASDAQ, the
NYSE MKT LLC, the OTC Bulletin Board or any securities exchange (in each case other than statements contained in the section captioned
&ldquo;Selling Restrictions&rdquo;); or the omission or alleged omission therefrom of a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, unless
such statement or omission was made in reliance upon and in conformity with written information furnished to the Company with respect
to an Underwriter by or on behalf of such Underwriter expressly for use in any Preliminary Prospectus, the Registration Statement
the Prospectus or any amendment or supplement thereof, or in any application, as the case may be, which furnished written information,
it is expressly agreed, consists solely of the information described in clause (ii) of the last sentence of Section 2.3.1.&nbsp;
With respect to any untrue statement or omission or alleged untrue statement or omission made in the Preliminary Prospectus, the
indemnity agreement contained in this paragraph shall not inure to the benefit of any Underwriter to the extent that any loss,
liability, claim, damage or expense of such Underwriter results from the fact that a copy of the Prospectus was not given or sent
to the person asserting any such loss, liability, claim or damage at or prior to the written confirmation of sale of the Public
Securities to such person as required by the Act and the Regulations, and if the untrue statement or omission has been corrected
in the Prospectus, unless such failure to deliver the Prospectus was a result of non-compliance by the Company with its obligations
under Section 3.4 hereof. The Company agrees promptly to notify the Representative of the commencement of any litigation or proceedings
against the Company or any of its officers, directors or controlling persons in connection with the issue and sale of the Public
Securities or in connection with the Preliminary Prospectus, the Registration Statement or the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedure</U>.&nbsp;
If any action is brought against an Underwriter or controlling person in respect of which indemnity may be sought against the Company
pursuant to Section&nbsp;5.1.1, such Underwriter shall promptly notify the Company in writing of the institution of such action
and the Company shall assume the defense of such action, including the employment and fees of counsel (subject to the reasonable
approval of such Underwriter) and payment of actual expenses.&nbsp; Such Underwriter or controlling person shall have the right
to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such
Underwriter or such controlling person unless: (i) the employment of such counsel at the expense of the Company shall have been
authorized in writing by the Company in connection with the defense of such action; (ii) the Company shall not have employed counsel
to have charge of the defense of such action; or (iii) counsel to such indemnified party or parties shall have reasonably concluded
that there may be defenses available to it or them which are different from or additional to those available to the Company (in
which case the Company shall not have the right to direct the defense of such action on behalf of the indemnified party or parties),
in any of which events the reasonable fees and expenses of not more than one additional firm of attorneys selected by the Underwriter
and/or controlling person shall be borne by the Company.&nbsp; Notwithstanding anything to the contrary contained herein, if the
Underwriter or controlling person shall assume the defense of such action as provided above, the Company shall have the right to
approve the terms of any settlement of such action which approval shall not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of the Company</U>.&nbsp; Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, its directors,
officers, and employees and agents who control the Company within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20
of the Exchange Act, and its counsel, against any and all loss, liability, claim, damage and expense described in the foregoing
indemnity from the Company to the several Underwriters, as incurred, but only with respect to untrue statements or omissions, or
alleged untrue statements or omissions made in the Registration Statement, any Preliminary Prospectus, the Prospectus or any amendment
or supplement thereto, or in any application, in reliance upon, and in strict conformity with, written information furnished to
the Company with respect to such Underwriter by or on behalf of the Underwriter expressly for use in such Registration Statement,
Preliminary Prospectus, the Prospectus or any amendment or supplement thereto or in any such application, which furnished written
information, it is expressly agreed, consists solely of the information described in clause (ii) of the last sentence of Section
2.3.1.&nbsp; In case any action shall be brought against the Company or any other person so indemnified based on any Preliminary
Prospectus, the Registration Statement, the Prospectus or any amendment or supplement thereto or any application, and in respect
of which indemnity may be sought against any Underwriter, such Underwriter shall have the rights and duties given to the Company,
and the Company and each other person so indemnified shall have the rights and duties given to the several Underwriters by the
provisions of Section&nbsp;5.1.2.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution
Rights</U>.&nbsp; In order to provide for just and equitable contribution under the Act in any case in which (i)&nbsp;any person
entitled to indemnification under this Section&nbsp;5 makes claim for indemnification pursuant hereto but it is judicially determined
(by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial
of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section&nbsp;5
provides for indemnification in such case, or (ii) contribution under the Act, the Exchange Act or otherwise may be required on
the part of any such person in circumstances for which indemnification is provided under this Section&nbsp;5 but is unavailable,
then, and in each such case, the Company and the Underwriters shall contribute to the aggregate losses, liabilities, claims, damages
and expenses of the nature contemplated by said indemnity agreement incurred by the Company and the Underwriters, as incurred,
in such proportions that the Underwriters are responsible for that portion represented by the percentage that the underwriting
discount appearing on the cover page of the Prospectus bears to the initial offering price appearing thereon and the Company is
responsible for the balance; provided, that, no person guilty of a fraudulent misrepresentation (within the meaning of Section&nbsp;11(f)
of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.&nbsp; Notwithstanding
the provisions of this Section&nbsp;5.3.1, no Underwriter shall be required to contribute any amount in excess of the amount by
which the total price at which the Public Securities underwritten by it and distributed to the public were offered to the public
exceeds the amount of any damages that such Underwriter has otherwise been required to pay in respect of such losses, liabilities,
claims, damages and expenses.&nbsp; For purposes of this Section, each director, officer and employee of an Underwriter or the
Company, as applicable, and each person, if any, who controls an Underwriter or the Company, as applicable, within the meaning
of Section&nbsp;15 of the Act shall have the same rights to contribution as the Underwriters or the Company, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution
Procedure</U>.&nbsp; Within fifteen days after receipt by any party to this Agreement (or its representatives) of notice of the
commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against
another party (&ldquo;<B>contributing party</B>&rdquo;), notify the contributing party of the commencement thereof, but the omission
to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for
contribution hereunder.&nbsp; In case any such action, suit or proceeding is brought against any party, and such party notifies
a contributing party or its representatives of the commencement thereof within the aforesaid fifteen days, the contributing party
will be entitled to participate therein with the notifying party and any other contributing party similarly notified.&nbsp; Any
such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action
or proceeding effected by such party seeking contribution on account of any settlement of any claim, action or proceeding effected
by such party seeking contribution without the written consent of such contributing party.&nbsp; The contribution provisions contained
in this Section&nbsp;are intended to supersede, to the extent permitted by law, any right to contribution under the Act, the Exchange
Act or otherwise available.&nbsp; The Underwriters&rsquo; obligations to contribute pursuant to this Section&nbsp;5.3 are several
and not joint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Default
by an Underwriter</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Default
Not Exceeding 10% of Firm Units</U>.&nbsp; If any Underwriter or Underwriters shall default in its or their obligations to purchase
the Firm Units and if the number of the Firm Units with respect to which such default relates does not exceed in the aggregate
10% of the number of Firm Units that all Underwriters have agreed to purchase hereunder, then such Firm Units to which the default
relates shall be purchased by the non-defaulting Underwriters in proportion to their respective commitments hereunder.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Default
Exceeding 10% of Firm Units</U>.&nbsp; In the event that the default addressed in Section 6.1 above relates to more than 10% of
the Firm Units, the Representative may, in its discretion, arrange for it or for another party or parties to purchase such Firm
Units to which such default relates on the terms contained herein.&nbsp; If within one (1) Business Day after such default relating
to more than 10% of the Firm Units the Representative does not arrange for the purchase of such Firm Units, then the Company shall
be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative
to purchase said Firm Units on such terms.&nbsp; In the event that neither the Representative nor the Company arrange for the purchase
of the Firm Units to which a default relates as provided in this Section&nbsp;6, this Agreement may be terminated by the Representative
or the Company without liability on the part of the Company (except as provided in Sections 3.12 and 5 hereof) or the several Underwriters
(except as provided in Section&nbsp;5 hereof); <I>provided </I>that nothing herein shall relieve a defaulting Underwriter of its
liability, if any, to the other several Underwriters and to the Company for damages occasioned by its default hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.3.&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;<U>Postponement of Closing Date</U>.&nbsp; In the event that the Firm Units to which the default
relates are to be purchased by the non-defaulting Underwriters, or are to be purchased by another party or parties as
aforesaid, the Representative or the Company shall have the right to postpone the Closing Date for a reasonable period, but
not in any event exceeding five (5) Business Days, in order to effect whatever changes may thereby be made necessary in the
Registration Statement and/or the Prospectus, as the case may be, or in any other documents and arrangements, and the Company
agrees to file promptly any amendment to, or to supplement, the Registration Statement and/or the Prospectus, as the case may
be, that in the reasonable opinion of counsel for the Underwriters may thereby be made necessary. The term
&ldquo;Underwriter&rdquo; as used in this Agreement shall include any party substituted under this Section&nbsp;6 with like
effect as if it had originally been a party to this Agreement with respect to such securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional
Covenants</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional
Shares or Options</U>.&nbsp; Except as described in the Registration Statement, the Company hereby agrees that until the Company
consummates a Business Combination, it shall not issue any shares of Common Stock or any options or other securities convertible
into shares of Common Stock or any shares of preferred stock which participate in any manner in the Trust Account or which vote
as a class with the shares of Common Stock on a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Trust
Account Waiver Acknowledgments</U>. The Company hereby agrees that, prior to commencing its due diligence investigation of any
Target Business or obtaining the services of any vendor, it will use its best efforts to have such Target Business or vendor acknowledge
in writing, whether through a letter of intent, memorandum of understanding, agreement in principle or other similar document (and
subsequently acknowledges the same in any definitive document replacing any of the foregoing), that (a) it has read the Prospectus,
and understands that the Company has established the Trust Account, initially in an amount of $40,000,000 for the benefit of the
Public Stockholders and that, except for the interest earned on the amounts held in the Trust Account, the Company may disburse
monies from the Trust Account only: (i) to the Public Stockholders in the event of the conversion of their shares upon consummation
of a Business Combination or amendment to the Company&rsquo;s Amended and Restated Certificate of Incorporation relating to pre-Business
Combination activity, (ii) to the Public Stockholders in connection with the Company&rsquo;s liquidation in the event the Company
is unable to consummate a Business Combination within the required time period or (iii) to the Company concurrently with, or after
it consummates a Business Combination, and (b) for and in consideration of the Company (1) agreeing to evaluate such Target Business
for purposes of consummating a Business Combination with it or (2) agreeing to engage the services of the vendor, as the case may
be, such Target Business or vendor agrees that it does not have any right, title, interest or claim of any kind in or to any monies
of the Trust Account (&ldquo;<B>Claim</B>&rdquo;) and waives any Claim it may have in the future as a result of, or arising out
of, any negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason
whatsoever. The foregoing letters shall substantially be in the form attached hereto as<B> </B><I><U>Exhibit A</U></I> and<B> </B><I><U>B</U></I>,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Underwriters agrees that it does not have any right, title, interest or claim of any kind in or to any monies in the Trust
Account (each, a &ldquo;Claim&rdquo;) and hereby waives any Claim it may have in the future as a result of, or arising out of,
any services provided to the Company and will not seek recourse against the Trust Account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insider
Letters</U>.&nbsp; The Company shall not take any action or omit to take any action which would cause a breach of any of the Insider
Letters executed between each Company Affiliate and the Representative and will not allow any amendments to, or waivers of, such
Insider Letters without the prior written consent of the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amended
and Restated Certificate of Incorporation</U>.&nbsp; The Company shall not take any action or omit to take any action that would
cause the Company to be in breach or violation of its Amended and Restated Certificate of Incorporation.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tender
Offer, Proxy and Other Information</U>.&nbsp; The Company shall provide the Representative with copies of all proxy or tender offer
documentation and other information and all related material sent to Public Stockholders in connection with a Business Combination.
In addition, the Company shall furnish any other state in which the Offering was registered, such information as may be requested
by such state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acquisition/Liquidation
of Trust Account Procedure</U>. The Company agrees that it will comply with its Amended and Restated Certificate of Incorporation
in connection with the consummation of a Business Combination or the failure to consummate a Business Combination within 18 months
from the Closing Date (or 24 months from the Closing Date if the Company has entered into a letter of intent or definitive agreement
within 18 months from the Closing Date but the Company has not consummated the Business Combination within such 18-month period)
(either such date being referred to as the &ldquo;<B>Termination Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rule
419</U>. The Company agrees that it will use its best efforts to prevent the Company from becoming subject to Rule 419 under the
Act prior to the consummation of any Business Combination, including, but not limited to, using its best efforts to prevent any
of the Company&rsquo;s outstanding securities from being deemed to be a &ldquo;penny stock&rdquo; as defined in Rule 3a-51-1 under
the Exchange Act during such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Presentation
of Potential Target Businesses</U>.&nbsp; The Company shall cause each of the Company Affiliates to agree that, in order to minimize
potential conflicts of interest which may arise from multiple affiliations, the Company Affiliates will present to the Company
for its consideration, prior to presentation to any other person or company, any suitable opportunity to acquire an operating business,
until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Trust Account, subject
to any pre-existing fiduciary obligations the Company Affiliates might have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Target
Net Assets</U>. The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80%
of the balance in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target
Business. The fair market value of such business must be determined by the Board of Directors of the Company based upon standards
generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board
of Directors of the Company is not able to independently determine that the target business meets such fair market value requirement,
the Company will obtain an opinion from an unaffiliated, independent investment banking firm, or another independent entity that
commonly renders valuation opinions on the type of Target Business the Company is seeking to acquire. The Company is not required
to obtain such an opinion as to the fair market value if the Company&rsquo;s Board of Directors independently determines that the
Target Business does have sufficient fair market value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Agreements to Survive Delivery</U>.&nbsp; Except as the context otherwise requires, all representations, warranties and
agreements contained in this Agreement shall be deemed to be representations, warranties and agreements at the Closing Date
or Option Closing Date, as applicable, and such representations, warranties and agreements of the Underwriters and Company,
including the indemnity agreements contained in Section&nbsp;5 hereof, shall remain operative and in full force and effect
regardless of any investigation made by or on behalf of any Underwriter, the Company or any controlling person, and shall
survive termination of this Agreement or the issuance and delivery of the Public Securities to the several Underwriters until
the earlier of the expiration of any applicable statute of limitations and the seventh (7th) anniversary of the Closing Date,
at which time the representations, warranties and agreements shall terminate and be of no further force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date of This Agreement and Termination Thereof</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date</U>.&nbsp; This Agreement shall become effective on the Effective Date at the time the Registration Statement is declared
effective by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>.&nbsp;
The Representative shall have the right to terminate this Agreement at any time prior to any Closing Date: (i) if any domestic
or international event or act or occurrence has materially disrupted or, in the Representative&rsquo;s sole opinion, will in the
immediate future materially disrupt, general securities markets in the United States; or (ii) if trading on the New York Stock
Exchange, the NYSE MKT LLC, NASDAQ or on the OTC Bulletin Board (or successor trading market) shall have been suspended, or minimum
or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been fixed, or maximum
ranges for prices for securities shall have been required on the OTC Bulletin Board or by order of the Commission or any other
government authority having jurisdiction, or (iii) if the United States shall have become involved in a war or an increase in existing
major hostilities, or (iv) if a banking moratorium has been declared by a New York State or federal authority, or (v) if a moratorium
on foreign exchange trading has been declared which materially adversely impacts the United States securities market, or (vi) if
the Company shall have sustained a material loss by fire, flood, accident, hurricane, earthquake, theft, sabotage or other calamity
or malicious act which, whether or not such loss shall have been insured, will, in the Representative&rsquo;s sole opinion, make
it inadvisable to proceed with the delivery of the shares of Common Stock, or (vii) if any of the Company&rsquo;s representations,
warranties or covenants hereunder are breached, or (viii) if the Representative shall have become aware after the date hereof of
a Material Adverse Effect on the Company, or such adverse material change in general market conditions, including, without limitation,
as a result of terrorist activities after the date hereof, as in the Representative&rsquo;s sole judgment would make it impracticable
to proceed with the offering, sale and/or delivery of the shares of Common Stock or to enforce contracts made by the Underwriters
for the sale of the shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>.&nbsp;
In the event that this Agreement shall not be carried out for any reason whatsoever, within the time specified herein or any extensions
thereof pursuant to the terms herein, the obligations of the Company to pay the out of pocket expenses related to the transactions
contemplated herein shall be governed by Section&nbsp;3.12 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.&nbsp;
Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement,
and whether or not this Agreement is otherwise carried out, the provisions of Section&nbsp;5 shall not be in any way effected by,
such election or termination or failure to carry out the terms of this Agreement or any part hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.&nbsp;
All communications hereunder, except as herein otherwise specifically provided, shall be in writing and shall be mailed by certified
mail (with return receipt), delivered by hand or reputable overnight courier, delivered by facsimile transmission (with printed
confirmation of receipt) and confirmed, or by electronic transmission via PDF and shall be deemed given when so mailed, delivered,
or faxed or transmitted (or if mailed, five days after such mailing):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If to the Representative:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">275 Madison Avenue, 27<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fax No.: (212) 661-4936</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Steven Levine</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: <U>slevine@ebcap.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">With a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Graubard Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">405 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, New York 10174</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fax No.: (212) 818-8881</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: David Alan Miller, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: <U>dmiller@graubard.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"></TD><TD STYLE="text-align: justify">If to the Company, to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">150 Pierce
Road, 6<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Itasca, IL
60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Fax No.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attn: Gordon Pratt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Email: gpratt@fundmanagementgroup.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With a copy (which
shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">McDermott Will &amp; Emery LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">340 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10173</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fax No.: 212-547-5444</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Joel L. Rubinstein, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: <U>jrubinstein@mwe.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.&nbsp;
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment</U>.&nbsp;
This Agreement may only be amended by a written instrument executed by each of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>.&nbsp; This Agreement (together with the other agreements and documents being delivered pursuant to or in connection
with this Agreement) constitute the entire agreement of the parties hereto with respect to the subject matter hereof and thereof,
and supersede all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Effect</U>.&nbsp; This Agreement shall inure solely to the benefit of and shall be binding upon the Representative, the Underwriters,
the Company and the controlling persons, directors and officers referred to in Section&nbsp;5 hereof, and their respective successors,
legal representatives and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy
or claim under or in respect of or by virtue of this Agreement or any provisions herein contained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law, Venue, etc.</U> This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it
arising out of, relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York of the
United States of America 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 inconvenient
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 10.1 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The
Company agrees that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of
its reasonable attorneys&rsquo; fees and expenses relating to such action or proceeding and/or incurred in connection with the
preparation therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
in Counterparts</U>.&nbsp; This Agreement may be executed in one or more counterparts, and by the different parties hereto
in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute
one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties
hereto and delivered to each of the other parties hereto. Delivery of a signed counterpart of this Agreement by fax or
email/.pdf transmission shall constitute valid and sufficient delivery thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver,
etc.</U>&nbsp; The failure of any of the parties hereto to at any time enforce any of the provisions of this Agreement shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Agreement or any provision
hereof or the right of any of the parties hereto to thereafter enforce each and every provision of this Agreement.&nbsp; No waiver
of any breach, non-compliance or non-fulfillment of any of the provisions of this Agreement shall be effective unless set forth
in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver
of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach,
non-compliance or non-fulfillment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Fiduciary Relationship</U>. The Company hereby acknowledges that the Underwriters are acting solely as underwriters in connection
with the offering of the Public Securities. The Company further acknowledges that the Underwriters are acting pursuant to a contractual
relationship created solely by this Agreement entered into on an arm's length basis and in no event do the parties intend that
the Underwriters act or be responsible as a fiduciary to the Company, its management, shareholders, creditors or any other person
in connection with any activity that the Underwriters may undertake or have undertaken in furtherance of the offering of the Public
Securities, either before or after the date hereof. The Underwriters hereby expressly disclaim any fiduciary or similar obligations
to the Company, either in connection with the transactions contemplated by this Agreement or any matters leading up to such transactions,
and the Company hereby confirms its understanding and agreement to that effect. The Company and the Underwriters agree that they
are each responsible for making their own independent judgments with respect to any such transactions, and that any opinions or
views expressed by the Underwriters to the Company regarding such transactions, including but not limited to any opinions or views
with respect to the price or market for the Public Securities, do not constitute advice or recommendations to the Company. The
Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the Underwriters
with respect to any breach or alleged breach of any fiduciary or similar duty to the Company in connection with the transactions
contemplated by this Agreement or any matters leading up to such transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">EarlyBirdCapital, Inc.<br>July 15, 2014<br>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --> of 45</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing correctly
sets forth the understanding between the Underwriters and the Company, please so indicate in the space provided below for that
purpose, whereupon this letter shall constitute a binding agreement between us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="layout-grid-mode: line">Very Truly Yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; width: 50%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; width: 5%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; width: 7%">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; width: 38%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>1347 CAPITAL CORP.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">By: </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line">/s/ Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">Name:</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;&nbsp;Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line">Title:</TD>
    <TD STYLE="layout-grid-mode: line">President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 193.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Agreed to and accepted</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>as of the date first written above:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EARLYBIRDCAPITAL, INC.</B>, as Representative
of the several Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">By: </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">/s/ Steven Levine</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 7%; layout-grid-mode: line; text-align: justify">Name: </TD>
    <TD STYLE="width: 38%; layout-grid-mode: line; text-align: justify">Steven Levine</TD>
    <TD STYLE="width: 50%; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">Title:</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">CEO</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Underwriting Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SCHEDULE A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>1347
CAPITAL CORP.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>4,000,000 Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Underwriter</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Firm Units <BR>to be Purchased</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: justify">EarlyBirdCapital, Inc.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">3,600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Aegis Capital Corp.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">400,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center">TOTAL</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,000,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Form of Target Business Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital Corp.<BR>
150 Pierce Road, 6<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Gordon Pratt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Final Prospectus of 1347 Capital Corp. (the &ldquo;<B>Company</B>&rdquo;), dated July 15, 2014 (the &ldquo;<B>Prospectus</B>&rdquo;).
Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have read the Prospectus
and understand that the Company has established the Trust Account, initially in an amount of at least $40,000,000, for the benefit
of the Public Stockholders and that, except for the interest earned on the amounts held in the Trust Account, the Company may disburse
monies from the Trust Account only: (i) to the Public Stockholders in the event of the conversion of their shares upon consummation
of a Business Combination or amendment to the Company&rsquo;s Amended and Restated Certificate of Incorporation relating to pre-Business
Combination activity, (ii) to the Public Stockholders in connection with the Company&rsquo;s liquidation in the event the Company
is unable to consummate a Business Combination within the required time period or (iii) to the Company concurrently with, or after
it consummates a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For and in consideration
of the Company agreeing to evaluate the undersigned for purposes of consummating a Business Combination with it, the undersigned
hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies in the Trust Account (each,
a &ldquo;<B>Claim</B>&rdquo;) and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations,
contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 58%; border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">Print Name of Target Business</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">Authorized Signature of Target Business</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Form of Vendor Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital Corp.<BR>
150 Pierce Road, 6<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Gordon Pratt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the Final Prospectus of 1347 Capital Corp. (the &ldquo;<B>Company</B>&rdquo;), dated July 15, 2014 (the &ldquo;<B>Prospectus</B>&rdquo;).
Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have read the Prospectus
and understand that the Company has established the Trust Account, initially in an amount of at least 40,000,000, for the benefit
of the Public Stockholders and that, except for the interest earned on the amounts held in the Trust Account, the Company may disburse
monies from the Trust Account only: (i) to the Public Stockholders in the event of the conversion of their shares upon consummation
of a Business Combination or amendment to the Company&rsquo;s Amended and Restated Certificate of Incorporation relating to pre-Business
Combination activity, (ii) to the Public Stockholders in connection with the Company&rsquo;s liquidation in the event the Company
is unable to consummate a Business Combination within the required time period or (iii) to the Company concurrently with, or after
it consummates a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For and in consideration
of the Company agreeing to use the services of the undersigned, the undersigned hereby agrees that it does not have any right,
title, interest or claim of any kind in or to any monies in the Trust Account (each, a &ldquo;<B>Claim</B>&rdquo;) and hereby waives
any Claim it may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse
against the Trust Account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">Print Name of Vendor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify">Authorized Signature of Vendor</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>3
<FILENAME>v384170_ex1-2.htm
<DESCRIPTION>BUSINESS COMBINATION MARKETING AGREEMENT BETWEEN 1347 CAPITAL CORP. AND EARLYBIRDCAPITAL, INC.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION COPY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EARLYBIRDCAPITAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>275 Madison Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.05in 0pt 0; text-align: right">July 15, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Gordon Pratt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is to confirm our agreement whereby
1347 Capital Corp., a Delaware corporation (&ldquo;Company&rdquo;), has requested EarlyBirdCapital, Inc. (the &ldquo;Advisor&rdquo;)
to assist it in connection with the Company consummating a merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination (in each case, a &ldquo;Business Combination&rdquo;) with one or more businesses
or entities (each a &ldquo;Target&rdquo;) as described in the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695)
filed with the Securities and Exchange Commission (&ldquo;Registration Statement&rdquo;) in connection with its initial public
offering (&ldquo;IPO&rdquo;) .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD><U>Services and Fees</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>If requested by the Company, the Advisor will:</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>Hold meetings with Company stockholders to discuss the Business Combination and the Target&rsquo;s attributes;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>Introduce the Company to potential investors to purchase the Company&rsquo;s securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>Assist the Company in trying to obtain stockholder approval for the Business Combination, including assistance with the Company&rsquo;s
proxy statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>Assist the Company with any press releases and filings related to the Business Combination or the Target.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&#9;As compensation for the foregoing services,
the Company will pay the Advisor a cash fee equal to 3.5% of the total gross proceeds raised in the IPO (&ldquo;Fee&rdquo;); <I>provided</I>,
that up to 30% of the Fee may be allocated at the sole discretion of the Company to one or more other advisors that assist the
Company in identifying and consummating a Business Combination. The Fee is due and payable to the Advisor by wire transfer at the
closing of the Business Combination (&ldquo;Closing&rdquo;). If a proposed Business Combination is not consummated for any reason,
no Fee shall be due or payable to the Advisor hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD><U>Expenses</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall reimburse the Advisor
for all reasonable costs and expenses incurred by the Advisor (including reasonable fees and disbursements of counsel) directly
in connection with the performance of its services hereunder within 10 business days upon presentation of an invoice; provided,
however, all expenses in excess of $5,000 in the aggregate shall be subject to the Company&rsquo;s prior written approval, which
approval shall not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD><U>Company Cooperation</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will provide full cooperation
to the Advisor as may be necessary for the efficient performance by the Advisor of its obligations hereunder, including, but not
limited to, providing to the Advisor and its counsel, on a timely basis, all documents and information regarding the Company and
Target that the Advisor may reasonably request or that are otherwise relevant to the Advisor&rsquo;s performance of its obligations
hereunder (collectively, the &ldquo;Information&rdquo;); making the Company&rsquo;s management, auditors, suppliers, customers,
consultants and advisors available to the Advisor; and, using commercially reasonable efforts to provide the Advisor with reasonable
access to the management, auditors, suppliers, customers, consultants and advisors of Target. The Company will promptly notify
the Advisor of any change in facts or circumstances or new developments affecting the Company or Target or that might reasonably
be considered material to the Advisor&rsquo;s engagement hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD><U>Indemnity</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall indemnify the Advisor
and its affiliates and directors, officers, employees, shareholders, representatives and agents in accordance with the indemnification
provisions set forth in Annex I hereto, all of which are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing and Annex
1, the Advisor agrees (i) that it does not have any right, title, interest or claim of any kind in or to any monies in the Company&rsquo;s
trust account (&ldquo;Trust Account&rdquo;) established in connection with the IPO (each, a &ldquo;Claim&rdquo;); (ii) to waive
any Claim it may have in the future as a result of, or arising out of, any services provided to the Company; and (iii) to not seek
recourse against the Trust Account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD><U>Use of Name and Reports</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Without the Advisor&rsquo;s prior written
consent, neither the Company nor any of its affiliates (nor any director, officer, manager, partner, member, employee or agent
thereof) shall quote or refer to (i) the Advisor&rsquo;s name or (ii) any advice rendered by the Advisor to the Company or any
communication from the Advisor in connection with performance of their services hereunder, except as required by applicable federal
or state law, regulation or securities exchange rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.</TD><TD><U>Status as Independent Contractor</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Advisor shall perform its services as
an independent contractor and not as an employee of the Company or affiliate thereof. It is expressly understood and agreed to
by the parties that the Advisor shall have no authority to act for, represent or bind the Company or any affiliate thereof in any
manner, except as may be expressly agreed to by the Company in writing. In rendering such services, the Advisor will be acting
solely pursuant to a contractual relationship on an arm&rsquo;s-length basis. This Agreement is not intended to create a fiduciary
relationship between the parties and neither the Advisor nor any of the Advisor&rsquo;s officers, directors or personnel will owe
any fiduciary duty to the Company or any other person in connection with any of the matters contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD><U>Potential Conflicts</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company acknowledges that the Advisor
is a full-service securities firm engaged in securities trading and brokerage activities and providing investment banking and advisory
services from which conflicting interests may arise. In the ordinary course of business, the Advisor and its affiliates may at
any time hold long or short positions, and may trade or otherwise effect transactions, for their own account or the accounts of
customers, in debt or equity securities of the Company, its affiliates or other entities that may be involved in the transactions
contemplated hereby. Nothing in this Agreement shall be construed to limit or restrict the Advisor or any of its affiliates in
conducting such business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">8.</TD><TD><U>Entire Agreement</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement constitutes the entire understanding
between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written,
with respect thereto. This Agreement may not be modified or terminated orally or in any manner other than by an agreement in writing
signed by the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">9.</TD><TD><U>Notices</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any notices required or permitted to be
given hereunder shall be in writing and shall be deemed given when mailed by certified mail or private courier service, return
receipt requested, addressed to each party at its respective addresses set forth above, or such other address as may be given by
a party in a notice given pursuant to this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.</TD><TD><U>Successors and Assigns</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement may not be assigned by either
party without the written consent of the other. This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and, except where prohibited, to their successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">11.</TD><TD><U>Non-Exclusivity</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Nothing herein shall be deemed to restrict
or prohibit the engagement by the Company of other consultants providing the same or similar services or the payment by the Company
of fees to such parties. The Company&rsquo;s engagement of any other consultant(s) shall not affect the Advisor&rsquo;s right to
receive fees and reimbursement of expenses pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">12.</TD><TD><U>Applicable Law; Venue</U>.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement shall be construed and enforced
in accordance with the laws of the State of New York without giving effect to conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event of any dispute under this Agreement,
then and in such event, each party hereto agrees that the dispute shall either be (i) submitted to JAMS in New York County, New
York, for its decision and determination in accordance with Expedited Procedures of JAMS&rsquo; Comprehensive Arbitration Rules
and Procedures or (ii) brought and enforced in the courts of the State of New York, County of New York under the accelerated adjudication
procedures of the Commercial Division, or the United States District Court for the Southern District of New York, in each event
at the discretion of the party initiating the dispute. Once a party files a dispute (if arbitration, by sending JAMS a Demand for
Arbitration) with one of the above forums, the parties agree that all issues regarding such dispute or this Agreement must be resolved
before such forum rather than seeking to resolve it through another alternative forum set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event the dispute is brought before
JAMS, each of the parties agrees that the decision and/or award made by the arbitrators shall be final and enforceable by any court
having jurisdiction over the party from whom enforcement is sought. Furthermore, the parties to any such arbitration shall be entitled
to make one motion for summary judgment within 60 days of the commencement of the arbitration, which shall be decided by the arbitrator[s]
prior to the commencement of the hearings. If the amount in controversy in the arbitration exceeds $1.5 million, the arbitration
shall be heard by three arbitrators, unless the parties agree to one arbitrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event the dispute is brought by a
party in the courts of the State of New York or the United States District Court for the Southern District of New York, each party
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each party hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon a party
may be served by transmitting a copy thereof by registered or certified mail, postage prepaid, addressed to such party at the address
set forth at the beginning of this Agreement. Such mailing shall be deemed personal service and shall be legal and binding upon
the party being served in any action, proceeding or claim. The parties agree that the prevailing party(ies) in any such action
shall be entitled to recover from the other party(ies) all of its reasonable attorneys&rsquo; fees and expenses relating to such
action or proceeding and/or incurred in connection with the preparation therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the foregoing correctly sets forth the
understanding between the by Advisor and the Company with respect to the foregoing, please so indicate your agreement by signing
in the place provided below, at which time this letter shall become a binding contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">EARLYBIRDCAPITAL, INC.</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Steven Levine</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">Steven Levine </FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGREED AND ACCEPTED BY:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 CAPITAL CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Gordon Pratt</FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Gordon Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: President, Chief Executive Officer and Director</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Business Combination
Marketing Agreement)</P>











<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">ANNEX I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In connection
with the Company's engagement of EarlyBirdCapital, Inc. (the &ldquo;Advisor&rdquo;) pursuant to that certain letter agreement (&ldquo;Agreement&rdquo;)
of which this Annex forms a part, 1347 Capital Corp. (the &ldquo;Company&rdquo;) hereby agrees, subject to the second paragraph
of Section 4 of the Agreement, to indemnify and hold harmless the Advisor and its affiliates and its respective directors, officers,
shareholders, agents and employees of any of the foregoing (collectively the &ldquo;Indemnified Persons&rdquo;), from and against
any and all claims, actions, suits, proceedings (including those of shareholders), damages, liabilities and expenses incurred by
any of them (including the reasonable fees and expenses of counsel), as incurred, (collectively a &ldquo;Claim&rdquo;), that (A)
are related to or arise out of (i) any actions taken or omitted to be taken (including any untrue statements made or any statements
omitted to be made) by the Company, or (ii) any actions taken or omitted to be taken by any Indemnified Person in connection with
the Company's engagement of the Advisor, or (B) otherwise relate to or arise out of the Advisor's activities on the Company's behalf
under the Advisor's engagement, and the Company shall reimburse any Indemnified Person for all expenses (including the reasonable
fees and expenses of counsel) as incurred by such Indemnified Person in connection with investigating, preparing or defending any
such claim, action, suit or proceeding, whether or not in connection with pending or threatened litigation in which any Indemnified
Person is a party.</FONT> <FONT STYLE="font-size: 10pt"> The Company will not, however, be responsible for any Claim that is finally
judicially determined to have resulted from the gross negligence or willful misconduct of any person seeking indemnification for
such Claim.</FONT> <FONT STYLE="font-size: 10pt"> The Company further agrees that no Indemnified Person shall have any liability
to the Company for or in connection with the Company's engagement of the Advisor except for any Claim incurred by the Company as
a result of such Indemnified Person's gross negligence or willful misconduct.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company further agrees that it will
not, without the prior written consent of the Advisor, settle, compromise or consent to the entry of any judgment in any pending
or threatened Claim in respect of which indemnification may be sought hereunder (whether or not any Indemnified Person is an actual
or potential party to such Claim), unless such settlement, compromise or consent includes an unconditional, irrevocable release
of each Indemnified Person from any and all liability arising out of such Claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Promptly upon
receipt by an Indemnified Person of notice of any complaint or the assertion or institution of any Claim with respect to which
indemnification is being sought hereunder, such Indemnified Person shall notify the Company in writing of such complaint or of
such assertion or institution but failure to so notify the Company shall not relieve the Company from any obligation it may have
hereunder, except and only to the extent such failure results in the forfeiture by the Company of substantial rights and defenses.</FONT>
<FONT STYLE="font-size: 10pt"> If the Company so elects or is requested by such Indemnified Person, the Company will assume the
defense of such Claim, including the employment of counsel reasonably satisfactory to such Indemnified Person and the payment of
the fees and expenses of such counsel. In the event, however, that legal counsel to such Indemnified Person reasonably determines
that having common counsel would present such counsel with a conflict of interest or if the defendant in, or target of, any such
Claim, includes an Indemnified Person and the Company, and legal counsel to such Indemnified Person reasonably concludes that there
may be legal defenses available to it or other Indemnified Persons different from or in addition to those available to the Company,
then such Indemnified Person may employ its own separate counsel to represent or defend him, her or it in any such Claim and the
Company shall pay the reasonable fees and expenses of such counsel.</FONT> <FONT STYLE="font-size: 10pt"> Notwithstanding anything
herein to the contrary, if the Company fails timely or diligently to defend, contest, or otherwise protect against any Claim, the
relevant Indemnified Party shall have the right, but not the obligation, to defend, contest, compromise, settle, assert crossclaims,
or counterclaims or otherwise protect against the same, and shall be fully indemnified by the Company therefor, including without
limitation, for the reasonable fees and expenses of its counsel and all amounts paid as a result of such Claim or the compromise
or settlement thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">In addition,
with respect to any Claim in which the Company assumes the defense, the Indemnified Person shall have the right to participate
in such Claim and to retain his, her or its own counsel therefor at his, her or its own expense.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Company
agrees that if any indemnity sought by an Indemnified Person hereunder is held by a court to be unavailable for any reason then
(whether or not the Advisor is an Indemnified Person), the Company and the Advisor shall contribute to the Claim for which such
indemnity is held unavailable in such proportion as is appropriate to reflect the relative benefits to the Company, on the one
hand, and the Advisor on the other, in connection with the Advisor's engagement referred to above, subject to the limitation that
in no event shall the amount of the Advisor's contribution to such Claim exceed the amount of fees actually received by the Advisor
from the Company pursuant to the Advisor's engagement.</FONT> <FONT STYLE="font-size: 10pt"> The Company hereby agrees that the
relative benefits to the Company, on the one hand, and the Advisor on the other, with respect to the Advisor's engagement shall
be deemed to be in the same proportion as (a) the total value paid or proposed to be paid or received by the Company or its stockholders
as the case may be, pursuant to the transaction (whether or not consummated) for which the Advisor is engaged to render services
bears to (b) the fee paid or proposed to be paid to the Advisor in connection with such engagement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company's indemnity, reimbursement and
contribution obligations under this Agreement (a) shall be in addition to, and shall in no way limit or otherwise adversely affect
any rights that any Indemnified Party may have at law or at equity and (b) shall be effective whether or not the Company is at
fault in any way.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>4
<FILENAME>v384170_ex3-1.htm
<DESCRIPTION>AMENDED AND RESTATED CERTIFICATE OF INCORPORATION.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF INCORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>1347 CAPITAL CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 245 of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware General Corporation Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">July 15, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">1347 CAPITAL CORP., a corporation existing
under the laws of the State of Delaware (the &ldquo;Corporation&rdquo;), hereby certifies as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD>The name of the Corporation is &ldquo;1347 Capital Corp.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The Corporation&rsquo;s Certificate of Incorporation was filed in the office of the Secretary of State of the State of Delaware
on April 15, 2014.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD>This Amended and Restated Certificate of Incorporation (this &ldquo;Certificate&rdquo;) restates, integrates and amends the
Certificate of Incorporation of the Corporation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD>This Certificate was duly adopted by joint written consent of the directors and stockholders of the Corporation in accordance
with the applicable provisions of Sections 141(f), 228, 242 and 245 of the General Corporation Law of the State of Delaware (&ldquo;GCL&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD>The text of the Certificate of Incorporation of the Corporation is hereby amended and restated to read in full as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">FIRST: The name of the corporation is 1347
Capital Corp. (hereinafter sometimes referred to as the &ldquo;Corporation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">SECOND: The registered office of the Corporation
is to be located at Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801, City of Wilmington, County of New
Castle. The name of its registered agent at that address is The Corporation Trust Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">THIRD: The purpose of the Corporation shall
be to engage in any lawful act or activity for which corporations may be organized under the GCL. In addition to the powers and
privileges conferred upon the Corporation by law and those incidental thereto, the Corporation shall possess and may exercise all
the powers and privileges that are necessary or convenient to the conduct, promotion or attainment of the business or purposes
of the Corporation including, but not limited to, effecting a Business Combination (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">FOURTH: The total number of shares of all
classes of capital stock which the Corporation shall have authority to issue is 11,000,000, of which 10,000,000 shares shall be
common stock, par value $.0001 per share (&ldquo;Common Stock&rdquo;) and 1,000,000 shares shall be preferred stock, par value
of $.0001 per share (&ldquo;Preferred Stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A. <U>Preferred Stock</U>. The Board of Directors
is expressly granted authority to issue shares of the Preferred Stock, in one or more series, and to fix for each such series such
voting powers, full or limited, and such designations, preferences and relative, participating, optional or other special rights
and such qualifications, limitations or restrictions thereof as shall be stated and expressed in the resolution or resolutions
adopted by the Board of Directors providing for the issue of such series (a &ldquo;Preferred Stock Designation&rdquo;) and as may
be permitted by the GCL. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number
of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all of the then
outstanding shares of the capital stock of the Corporation entitled to vote generally in the election of directors, voting together
as a single class, without a separate vote of the holders of the Preferred Stock, or any series thereof, unless a vote of any such
holders is required pursuant to any Preferred Stock Designation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B. <U>Common Stock</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i) Except as otherwise required
by law or as otherwise provided in any Preferred Stock Designation, the holders of the Common Stock shall exclusively possess all
voting power and each share of Common Stock shall have one vote. Except as otherwise required by law or this Certificate (including
any Preferred Stock Designation), at any annual or special meeting of the stockholders of the Corporation, the holders of the Common
Stock shall have the exclusive right to vote for the election of directors and on all other matters properly submitted to a vote
of the stockholders. Notwithstanding the foregoing, except as otherwise required by law or this Certificate (including a Preferred
Stock Designation), the holders of the Common Stock shall not be entitled to vote on any amendment to this Certificate (including
any amendment to any Preferred Stock Designation) that relates solely to the terms of one or more outstanding series of the Preferred
Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other
such series, to vote thereon pursuant to this Certificate (including any Preferred Stock Designation).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;Subject to the rights,
if any, of the holders of any outstanding series of the Preferred Stock and the provisions of Article Sixth hereof, the holders
of the Common Stock shall be entitled to receive such dividends and other distributions (payable in cash, property or capital stock
of the Corporation) when, as and if declared thereon by the Board of Directors from time to time out of any assets or funds of
the Corporation legally available therefor, and shall share equally on a per share basis in such dividends and distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii) Subject to the rights, if
any, of the holders of any outstanding series of the Preferred Stock and the provisions of Article Sixth hereof, in the event of
any voluntary or involuntary liquidation, dissolution or winding-up of the Corporation, after payment or provision for payment
of the debts and other liabilities of the Corporation, the holders of the Common Stock shall be entitled to receive all the remaining
assets of the Corporation available for distribution to its stockholders, ratably in proportion to the number of shares of the
Common Stock held by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C. <U>Rights and Options</U>. The Corporation has
the authority to create and issue rights, warrants and options entitling the holders thereof to purchase shares of any class or
series of the Corporation&rsquo;s capital stock or other securities of the Corporation, and such rights, warrants and options shall
be evidenced by instrument(s) approved by the Board of Directors. The Board of Directors is empowered to set the exercise price,
duration, times for exercise and other terms and conditions of such rights, warrants or options; <U>provided</U>, <U>however</U>,
that the consideration to be received for any shares of capital stock subject thereto may not be less than the par value thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">FIFTH: [Reserved]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">SIXTH: The introduction and the following
provisions (A) through (K) of this Article Sixth shall apply during the period commencing upon the filing of this Certificate and
terminating upon the consummation of any &ldquo;Business Combination,&rdquo; and may not be amended during the &ldquo;Target Business
Acquisition Period&rdquo; unless approved by the affirmative vote of holders of at least sixty-five percent (65%) of all then outstanding
IPO Shares (defined below). Notwithstanding the foregoing, if the Corporation seeks to amend any such provisions other than in
connection with a Business Combination that would affect the substance or timing of the Corporation&rsquo;s obligation to convert
the IPO Shares under provision (G) of this Article Sixth, the Corporation will provide dissenting holders of IPO Shares with the
opportunity to convert their IPO Shares in connection with any such vote as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A &ldquo;Business Combination&rdquo; shall
mean any merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business
combination involving the Corporation and one or more businesses or entities (&ldquo;Target Business&rdquo;). The &ldquo;Target
Business Acquisition Period&rdquo; shall mean the period from the effectiveness of the registration statement on Form S-1 (&ldquo;Registration
Statement&rdquo;) filed with the Securities and Exchange Commission (&ldquo;Commission&rdquo;) in connection with the Corporation&rsquo;s
initial public offering (&ldquo;IPO&rdquo;) up to and including the first to occur of (a) a Business Combination or (b) the Termination
Date (defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A. Upon the closing of the IPO, a certain amount of
the net offering proceeds received by the Corporation in the IPO (including the proceeds of any exercise of the underwriters&rsquo;
over-allotment option) and certain other amounts specified in the Corporation&rsquo;s registration statement on Form S-1, as initially
filed with the Securities and Exchange Commission on May 5, 2014, as amended (the &ldquo;Registration Statement&rdquo;), shall
be deposited in a trust account (the &ldquo;Trust Account&rdquo;), pursuant to a trust agreement described in the Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B. Prior to the consummation of any Business Combination,
the Corporation shall submit such Business Combination to its holders of Common Stock for approval (&ldquo;Proxy Solicitation&rdquo;)
pursuant to the proxy rules promulgated under the Securities Exchange Act of 1934, as amended (&ldquo;Exchange Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C. The Corporation will consummate a Business Combination
only if a majority of the then outstanding shares of Common Stock voted at the meeting to approve the Business Combination are
voted for the approval of such Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D. In the event that a Business Combination is approved
in accordance with the above paragraph (B) and is consummated by the Corporation, or this Article Sixth is amended other than in
connection with a Business Combination in accordance with the introduction of this Article Sixth, any holder of a share of Common
Stock sold in the IPO (&ldquo;IPO Shares&rdquo;) who voted on the proposal to approve such Business Combination, or who voted on
the proposal to approve the amendment to the Certificate of Incorporation, as the case may be, whether such holder voted in favor
or against such Business Combination or amendment, may, contemporaneously with such vote, demand that the Corporation convert his
IPO Shares into cash. If so demanded, the Corporation shall, promptly after consummation of the Business Combination or approval
of the amendment to the Certificate of Incorporation, convert such shares into cash at a per share price equal to (i) the number
of IPO Shares being converted by such holder divided by the total number of IPO Shares multiplied by (ii) the amount then in the
Trust Account (as defined below) (such price being referred to as the &ldquo;Conversion Price&rdquo;). Notwithstanding the foregoing,
a holder of IPO Shares, together with any affiliate of his, hers or its, or any other person with whom he, she or it is acting
in concert or as a &ldquo;group&rdquo; (as defined in Section 13(d)(3) of the Exchange Act) (&ldquo;Group&rdquo;) will be restricted
from seeking conversion rights in connection with a proposed Business Combination with respect to 20.0% or more of the IPO Shares
without the Corporation&rsquo;s prior written consent. Accordingly, all IPO Shares beneficially owned by such holder or any other
person with whom such holder is acting in concert or as a Group in excess of 20.0% or more of the IPO Shares will remain outstanding
following consummation of such Business Combination in the name of the stockholder and not be converted. The exercise by a stockholder
of conversion rights shall be conditioned on such stockholder following the specific procedures for conversions set forth by the
Corporation in any applicable proxy materials sent to the Corporation&rsquo;s stockholders relating to the proposed Business Combination.
Payment of the amounts necessary to satisfy the conversion rights properly exercised shall be made as promptly as practical after
the consummation of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E. Except for (1) the withdrawal of interest to pay
income and other tax obligations and (2) the withdrawal of any remaining interest as may be required for the Corporation&rsquo;s
working capital requirements, none of the funds held in the Trust Account will be released from the Trust Account until the earlier
of (i) the completion of the Business Combination (ii) the approval of an amendment to this Article Sixth other than in connection
with a Business Combination in accordance with the introduction to this Article Sixth, and (iii) the redemption of 100% of the
IPO Shares if the Corporation is unable to complete the Business Combination by the Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">F. The Corporation will consummate a Business Combination
only if the holders of IPO Shares do not exercise conversion rights in an amount that would cause the Corporation&rsquo;s net tangible
assets to be less than $5,000,001.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">G. In the event that the Corporation does not consummate
a Business Combination by the later of (i) 18 months from the consummation of the IPO or (ii) 24 months from the consummation of
the IPO in the event that a letter of intent or definitive agreement to complete a Business Combination was executed but was not
consummated within such 18-month period (such date being referred to as the &ldquo;Termination Date&rdquo;), the Corporation shall
(i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible but not more than ten business
days thereafter, redeem 100% of the IPO Shares for cash for a redemption price per share as described below (which redemption will
completely extinguish such holders&rsquo; rights as stockholders, including the right to receive further liquidation distributions,
if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Corporation&rsquo;s
then stockholders and subject to the requirements of the GCL, including the adoption of a resolution by the Board pursuant to Section
275(a) of the GCL finding the dissolution of the Corporation advisable and the provision of such notices as are required by said
Section 275(a) of the GCL, dissolve and liquidate the balance of the Corporation&rsquo;s net assets to its remaining stockholders,
as part of the Corporation&rsquo;s plan of dissolution and liquidation, subject (in the case of (ii) and (iii) above) to the Corporation&rsquo;s
obligations under the GCL to provide for claims of creditors and other requirements of applicable law. In such event, the per-share
redemption price to be received by each holder of IPO Shares shall be equal to (1) the number of IPO Shares held by such holder
divided by the total number of IPO Shares multiplied by (2) the amount then in the Trust Account, plus any pro rata interest earned
on the funds held in the Trust Account and not previously released to the Corporation for the Corporation&rsquo;s working capital
requirements or necessary to pay the Corporation&rsquo;s taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">H. A holder of IPO Shares shall be entitled only to
receive distributions from the Trust Account in the event (i) he, she or it demands conversion of his, her or its shares in accordance
with paragraph C above in connection with any Proxy Solicitation, (ii) that an amendment to this Article Sixth is approved other
than in connection with a Business Combination in accordance with the introduction to this Article Sixth, or (iii) that the Corporation
has not consummated a Business Combination by the Termination Date. In no other circumstances shall a holder of IPO Shares have
any right or interest of any kind in or to the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">I. Following the closing of the IPO and prior to consummation
of a Business Combination, the Corporation may not issue any shares of capital stock that would entitle the holders thereof to
(i) receive funds from the Trust Account or (ii) vote on any Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">J. The Board of Directors shall be divided into three
classes: Class A, Class B and Class C. The number of directors in each class shall be as nearly equal as possible. At the first
election of directors by the incorporator, the incorporator shall elect two Class C directors for a term expiring at the Corporation&rsquo;s
third Annual Meeting of Stockholders. The Class C directors shall then appoint additional Class A, Class B and Class C directors,
as necessary. The directors in Class A shall be elected for a term expiring at the first Annual Meeting of Stockholders, the directors
in Class B shall be elected for a term expiring at the second Annual Meeting of Stockholders and the directors in Class C shall
be elected for a term expiring at the third Annual Meeting of Stockholders. Commencing at the first Annual Meeting of Stockholders,
and at each annual meeting thereafter, directors elected to succeed those directors whose terms expire shall be elected for a term
of office to expire at the third succeeding annual meeting of stockholders after their election. Except as the GCL may otherwise
require, in the interim between annual meetings of stockholders or special meetings of stockholders called for the election of
directors and/or the removal of one or more directors and the filling of any vacancy in that connection, newly created directorships
and any vacancies in the Board of Directors, including unfilled vacancies resulting from the removal of directors for cause, may
be filled by the vote of a majority of the remaining directors then in office, although less than a quorum (as defined in the Corporation&rsquo;s
bylaws), or by the sole remaining director. All directors shall hold office until the expiration of their respective terms of office
and until their successors shall have been elected and qualified. A director elected to fill a vacancy resulting from the death,
resignation or removal of a director shall serve for the remainder of the full term of the director whose death, resignation or
removal shall have created such vacancy and until his successor shall have been elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">K. In the event the Corporation enters into a Business
Combination with an entity that is affiliated with any of the Corporation&rsquo;s officers, directors or the holders of shares
of the Corporation&rsquo;s Common Stock issued prior to the IPO, the Corporation, or a committee of the independent directors of
the Corporation, shall obtain an opinion from an independent investment banking firm that such Business Combination is fair to
the Corporation&rsquo;s unaffiliated stockholders from a financial point of view.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">SEVENTH: The following provisions are inserted
for the management of the business and for the conduct of the affairs of the Corporation, and for further definition, limitation
and regulation of the powers of the Corporation and of its directors and stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A. Election of directors need not be by ballot unless
the bylaws of the Corporation so provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B. The Board of Directors shall have the power, without
the assent or vote of the stockholders, to make, alter, amend, change, add to or repeal the bylaws of the Corporation as provided
in the bylaws of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C. The directors in their discretion may submit any
contract or act for approval or ratification at any annual meeting of the stockholders or at any meeting of the stockholders called
for the purpose of considering any such contract or act, and any contract or act that shall be approved or be ratified by the vote
of the holders of a majority of the Common Stock voted at such meeting (provided that a lawful quorum of stockholders be there
represented in person or by proxy) shall be as valid and binding upon the Corporation and upon all the stockholders as though it
had been approved or ratified by every stockholder of the Corporation, whether or not the contract or act would otherwise be open
to legal attack because of directors&rsquo; interests, or for any other reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D. In addition to the powers and authorities hereinbefore
or by statute expressly conferred upon them, the directors are hereby empowered to exercise all such powers and do all such acts
and things as may be exercised or done by the Corporation; subject, nevertheless, to the provisions of the statutes of Delaware,
of this Certificate, and to any bylaws from time to time made by the stockholders; provided, however, that no bylaw so made shall
invalidate any prior act of the directors which would have been valid if such bylaw had not been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">EIGHTH:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">A. A director of the Corporation shall not be personally
liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability
(i) for any breach of the director&rsquo;s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the GCL, or (iv)
for any transaction from which the director derived an improper personal benefit. If the GCL is amended to authorize corporate
action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation
shall be eliminated or limited to the fullest extent permitted by the GCL, as so amended. Any repeal or modification of this paragraph
A by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation with
respect to events occurring prior to the time of such repeal or modification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">B. The Corporation, to the full extent permitted by
Section 145 of the GCL, as amended from time to time, shall indemnify all officers and directors whom it may indemnify pursuant
thereto (each an &ldquo;indemnitee&rdquo;). Expenses (including attorneys&rsquo; fees) incurred by such indemnitee in defending
any civil, criminal, administrative, or investigative action, suit or proceeding for which such indemnitee may be entitled to indemnification
hereunder shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding upon receipt
of an undertaking by or on behalf of such indemnitee to repay such amount if it shall ultimately be determined that he or she is
not entitled to be indemnified by the Corporation as authorized hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">C. Notwithstanding the foregoing provisions of this
Article Eighth, no indemnification nor advancement of expenses will extend to any claims made by the Company&rsquo;s officers and
directors to cover any loss that such individuals may sustain as a result of such individuals&rsquo; agreement to pay debts and
obligations to target businesses or vendors or other entities that are owed money by the Corporation for services rendered or contracted
for or products sold to the Corporation, as described in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">D.&nbsp;The rights to indemnification and advancement
of expenses conferred on any indemnitee by this Article Eighth shall not be exclusive of any other rights that any indemnitee may
have or hereafter acquire under law, this Certificate, the Corporation&rsquo;s bylaws, an agreement, vote of stockholders or disinterested
directors, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E. Any repeal or amendment of this Article Eighth
by the stockholders of the Corporation or by changes in law, or the adoption of any other provision of this Certificate inconsistent
with this Article Eighth, shall, unless otherwise required by law, be prospective only (except to the extent such amendment or
change in law permits the Corporation to provide broader indemnification rights on a retroactive basis than permitted prior thereto),
and shall not in any way diminish or adversely affect any right or protection existing at the time of such repeal or amendment
or adoption of such inconsistent provision in respect of any proceeding (regardless of when such proceeding is first threatened,
commenced or completed) arising out of, or related to, any act or omission occurring prior to such repeal or amendment or adoption
of such inconsistent provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">F. This Article Eighth shall not limit the right of
the Corporation, to the extent and in the manner authorized or permitted by law, to indemnify and to advance expenses to persons
other than indemnitees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">NINTH: Whenever a compromise or arrangement
is proposed between this Corporation and its creditors or any class of them and/or between this Corporation and its stockholders
or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way
of this Corporation or of any creditor or stockholder thereof or on the application of any receiver or receivers appointed for
this Corporation under Section 291 of Title 8 of the Delaware Code or on the application of trustees in dissolution or of any receiver
or receivers appointed for this Corporation under Section 279 of Title 8 of the Delaware Code order a meeting of the creditors
or class of creditors, and/or of the stockholders or class of stockholders of this Corporation, as the case may be, to be summoned
in such manner as said court directs. If a majority in number representing three-fourths in value of the creditors or class of
creditors, and/or of the stockholders or class of stockholders of this Corporation, as the case may be, agree to any compromise
or arrangement and to any reorganization of this Corporation as a consequence of such compromise or arrangement, the said compromise
or arrangement and the said reorganization shall, if sanctioned by the court to which said application has been made, be binding
on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of this Corporation, as the
case may be, and also on this Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">TENTH: The doctrine of corporate opportunity,
or any other analogous doctrine, shall not apply with respect any of the Corporation&rsquo;s officers or directors, or any of their
respective affiliates, in circumstances where the application of any such doctrine would conflict with any fiduciary duties or
contractual obligations they may have as of the date of this Amended and Restated Certificate of Incorporation or in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">[Signature page follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">IN WITNESS WHEREOF, the Corporation has
caused this Amended and Restated Certificate of Incorporation to be signed by Gordon G. Pratt, its President, Chief Executive Officer
and Director, as of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">1347 CAPITAL CORP. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid">/s/ Gordon G. Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Gordon G. Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;&nbsp;&nbsp;President, Chief Executive Officer and Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Amended and Restated
Certificate of Incorporation of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1347 Capital Corp.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>5
<FILENAME>v384170_ex4-1.htm
<DESCRIPTION>WARRANT AGREEMENT BETWEEN 1347 CAPITAL CORP. AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WARRANT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Warrant Agreement (this &ldquo;Agreement&rdquo;)
is made as of July 15, 2014 between 1347 Capital Corp., a Delaware corporation, with offices at 150 Pierce Road, 6th Floor, Itasca,
IL 60143 (the &ldquo;Company&rdquo;), and Continental Stock Transfer &amp; Trust Company, a New York corporation, with offices
at 17 Battery Place, New York, New York 10004 (the &ldquo;Warrant Agent&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company has received a binding
commitment from 1347 Investors LLC (&ldquo;1347 Investors&rdquo;) to purchase (i) up to an aggregate of 198,000 units, each unit
(&ldquo;Unit&rdquo;) comprised of one share of the Company&rsquo;s common stock, par value $.0001 per share (&ldquo;Common Stock&rdquo;),
one right to receive one-tenth of one share of Common Stock and one warrant to purchase one-half of one share of Common Stock for
$11.50 per full share, subject to adjustment as described herein, and, in connection therewith, will issue and deliver up to an
aggregate of 198,000 warrants underlying such units (the &ldquo;Private Warrants&rdquo;) and (ii) 600,000 warrants to purchase
one share of Common Stock for $15.00 per share (&ldquo;$15 Exercise Price Sponsor Warrants&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company is engaged in a public
offering (&ldquo;Public Offering&rdquo;) of Units and, in connection therewith, will issue and deliver up to (i) 4,600,000 warrants
(&ldquo;Public Warrants&rdquo;) to investors in the Public Offering and (ii) 300,000 warrants (underlying unit purchase options)
to EarlyBirdCapital, Inc. (&ldquo;EBC&rdquo;) or its designees (&ldquo;EBC Warrants&rdquo; and, together with the Private Warrants,
$15 Exercise Price Sponsor Warrants and Public Warrants, the &ldquo;Warrants&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company has filed with the
Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a Registration Statement on Form S-1, No. 333-195695 (&ldquo;Registration
Statement&rdquo;), for the registration, under the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;) of, among other securities,
the Public Warrants; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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 and exercise of the Warrants; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
mutual agreements herein contained, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><U>Appointment of Warrant Agent</U>. The Company hereby appoints the Warrant Agent to act as agent for the Company for 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><U>Warrants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.1.</TD><TD><U>Form of Warrant</U>. 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 Chief Executive Officer, Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile
of the Company&rsquo;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.</TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.2.</TD><TD><U>Effect of Countersignature</U>. Unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant
shall be invalid and of no effect and may not be exercised by the holder thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.3.</TD><TD><U>Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.1.</TD><TD><U>Warrant Register</U>. The Warrant Agent shall maintain books (&ldquo;Warrant Register&rdquo;) 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.2.</TD><TD><U>Registered Holder</U>. 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 (&ldquo;registered
holder&rdquo;) 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.4.</TD><TD><U>Detachability of Warrants</U>. The securities comprising the Units will not be separately transferable until the ninetieth
(90<SUP>th</SUP>) day after the date hereof unless EBC informs the Company of its decision to allow earlier separate trading, but
in no event will separate trading of the securities comprising the Units begin until (i) the Company files a Current Report on
Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering
and (ii) the Company issues a press release and files a Current Report on Form 8-K announcing when such separate trading shall
begin.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.5.</TD><TD><U>Warrant Attributes</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.5.1.</TD><TD><U>Private Warrants</U>. The Private Warrants will be issued in the same form as the Public Warrants except that (i) they will
be exercisable either for cash or on a cashless basis at the holder&rsquo;s option pursuant to Section 3.3.1(c) and (ii) they will
not be redeemable by the Company, in either case as long as the Private Warrants are held by the initial purchasers or any of their
permitted transferees (as prescribed in Section 5.6 hereof).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.5.2.</TD><TD><U>EBC Warrants</U>. The EBC Warrants shall have the same terms and be in the same form as the Public Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.5.3.</TD><TD><U>$15 Exercise Price Sponsor Warrants</U>. The $15 Exercise Price Sponsor Warrants will be issued in the same form as the
Public Warrants except that (i) each $15 Exercise Price Sponsor Warrant shall be exercisable to purchase one full share of Common
Stock; (ii) the exercise price of the $15 Exercise Price Sponsor Warrants shall be $15.00 per share; (iii) the $15 Exercise Price
Sponsor Warrants shall not be redeemable by the Company as long as they are held by the initial purchasers or any of their permitted
transferees (as prescribed in Section 5.6 hereof); and (iv) the $15 Exercise Price Sponsor Warrants shall expire seven years after
the completion of the Company&rsquo;s Business Combination (as defined below), at 5:00 p.m., New York City time, or earlier upon
redemption or liquidation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.5.4.</TD><TD><U>Necessary Consent</U>. The provisions of this Section 2.5 may not be modified, amended or deleted without the prior written
consent of EBC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><U>Terms and Exercise of Warrants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.1.</TD><TD><U>Warrant Price</U>. Each Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject
to the provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock
stated therein, at the price of $11.50 per whole share (or, in the case of the $15 Exercise Price Sponsor Warrants, at the price
of $15.00 per whole share), subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1.
The term &ldquo;Warrant Price&rdquo; as used in this Warrant Agreement refers to the price per share at which shares of 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 (as defined below) for a period of not less than 10 business days; provided, however, that the
Company shall provide at least 10 business days prior written notice of such reduction to registered holders of the Warrants; provided,
further, however, that any such reduction shall be applied consistently to all of the Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-size: 10pt">3.2.</FONT></TD><TD><FONT STYLE="font-size: 10pt"><U>Duration of Warrants</U>. A Warrant may be exercised only during the period (&ldquo;Exercise
Period&rdquo;) commencing on the later of 30 days after the consummation by the Company of a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination involving the Company and one or more businesses
or entities (&ldquo;Business Combination&rdquo;) (as described more fully in the Registration Statement) and July 21, 2015, and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i) five years from the consummation of a Business Combination
(or, in the case of the $15 Exercise Price Sponsor Warrants,</FONT> <FONT STYLE="font-size: 10pt">seven years after the completion
of a Business Combination), (ii) the liquidation of the Company, and (iii) except in the case of the Private Warrants and $15 Exercise
Price Sponsor Warrants, the Redemption Date as provided in Section 6.2 of this Agreement (&ldquo;Expiration Date&rdquo;); provided,
however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in Section
7.4 below. 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 written notice to registered
holders of the Warrants of such extension of not less than 20 days.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.3.</TD><TD><U>Exercise of Warrants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.1.</TD><TD><U>Payment</U>. 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 the Warrant Price for each full 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, as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>in cash, good certified check or good bank draft payable to the order of the Warrant Agent; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>in the event of redemption pursuant to Section 6 hereof in which the Company&rsquo;s management has elected to require all
holders of Public Warrants to exercise such Public Warrants on a &ldquo;cashless basis,&rdquo; by surrendering the Warrants for
that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common
Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the &ldquo;Fair Market Value&rdquo; (defined
below) by (y) the Fair Market Value. Solely for purposes of this <U>Section 3.3.1(b)</U>, the &ldquo;Fair Market Value&rdquo; shall
mean the average reported closing price of the Common Stock for the 10 trading days ending on the third trading day prior to the
date on which the notice of redemption is sent to holders of Warrants pursuant to Section 6 hereof; or</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>with respect to any Private Warrants, so long as such Private Warrants are held by the initial purchasers or their permitted
transferees (as prescribed in Section 5.6 hereof), by surrendering such Private Warrants for that number of shares of Common Stock
equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied
by the difference between the exercise price of the Warrants and the &ldquo;Fair Market Value&rdquo; by (y) the Fair Market Value;
provided, however, that no cashless exercise shall be permitted unless the Fair Market Value is higher than the exercise price.
Solely for purposes of this <U>Section 3.3.1(c)</U>, the &ldquo;Fair Market Value&rdquo; shall mean the average reported closing
price of the Common Stock for the 10 trading days ending on the day prior to the Company&rsquo;s receipt of the applicable exercise
notice; or</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>in the event the registration statement required by Section 7.4 hereof is not effective and current, then during the period
beginning on the 61st day after the closing of the Business Combination and ending upon the effectiveness of such registration
statement, and during any other period after such date of effectiveness when the Company shall fail to have maintained an effective
registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, by surrendering Warrants for
that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common
Stock underlying such Warrants, multiplied by the difference between the exercise price of the Warrants or and the &ldquo;Fair
Market Value&rdquo; by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted unless the Fair
Market Value is higher than the exercise price. Solely for purposes of this <U>Section 3.3.1(d)</U>, the &ldquo;Fair Market Value&rdquo;
shall mean the average reported closing price of the shares of Common Stock for the 10 trading days ending on the day prior to
the date of exercise.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.2.</TD><TD><U>Issuance of Certificates</U>. As soon as practicable after the exercise of any Warrant and the clearance of the funds in
payment of the Warrant Price (if any), 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 shares of Common Stock pursuant to the exercise of a Public Warrant and shall have no obligation to settle such Public Warrant
exercise unless a registration statement under the Act with respect to the shares of Common Stock underlying the Public Warrants
is then effective and a prospectus relating thereto is current, subject to the Company&rsquo;s satisfying its obligations under&nbsp;<U>Section
7.4</U>. No Warrant shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of
a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under
the securities laws of the state of residence of the registered holder of the Warrants. In no event will the Company be required
to net cash settle the Warrant exercise. If, by reason of any exercise of warrants on a &ldquo;cashless basis&rdquo;, the holder
of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall
round down to the nearest whole number, the number of shares to be issued to such holder. Warrants may not be exercised by, or
securities issued to, any registered holder in any state in which such exercise would be unlawful.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.3.</TD><TD><U>Valid Issuance</U>. 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.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.4.</TD><TD><U>Date of Issuance</U>. 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 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 share 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 share transfer books are open.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.5.</TD><TD><U>Maximum Percentage</U>. A holder of a Warrant may notify the Company in writing in the event he, she or it elects to be
subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection
3.3.5 unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise
of the holder&rsquo;s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving
effect to such exercise, such person (together with such person&rsquo;s affiliates), to the Warrant Agent&rsquo;s actual knowledge,
would beneficially own in excess of 9.8% (the &ldquo;Maximum Percentage&rdquo;) of the shares of Common Stock outstanding immediately
after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially
owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant
with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock that would be
issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates
and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned
by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants)
subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding
sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). For purposes of the Warrant, in determining the number of outstanding
shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company&rsquo;s
most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the
Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the
Transfer Agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request
of the holder of the Warrant, the Company shall, within two (2) business days, confirm orally and in writing to such holder the
number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined
after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the
date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the holder of
a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified
in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice
is delivered to the Company.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><U>Adjustments</U>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.1.</TD><TD><U>Stock Dividends - Split Ups</U>. If after the date hereof, 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 the 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. A rights offering to all
holders of the shares of Common Stock entitling holders to purchase shares of Common Stock at a price less than the &ldquo;Fair
Market Value&rdquo; (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product
of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities
sold in such rights offering that are convertible into or exercisable for the shares of Common Stock) multiplied by (ii) one (1)
minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Fair Market Value.
For purposes of this subsection 4.1, (i) if the rights offering is for securities convertible into or exercisable for shares of
Common Stock, in determining the price payable for the shares of Common Stock, there shall be taken into account any consideration
received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) &ldquo;Fair Market Value&rdquo;
means the volume weighted average price of the shares of Common Stock as reported during the ten (10) trading day period ending
on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable
market, regular way, with the right to receive such rights.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.2.</TD><TD><U>Aggregation of Shares</U>. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a
consolidation, combination, reverse share split or reclassification of the Common Stock or other similar event, then, on the effective
date of such consolidation, combination, reverse share 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 Common Stock.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.3.</TD><TD><U>Extraordinary Dividends</U>. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding
and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Stock
on account of such Common Stock (or other shares of the Company&rsquo;s capital stock into which the Warrants are convertible),
other than (a) as described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion
rights of the holders of the Common Stock in connection with a proposed initial Business Combination, (d) as a result of the repurchase
of Common Stock by the Company in connection with an initial Business Combination or as otherwise permitted by the Investment Management
Trust Agreement between the Company and the Warrant Agent dated of even date herewith or (e) in connection with the Company&rsquo;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 &ldquo;Extraordinary Dividend&rdquo;), then the Warrant Price shall be decreased, effective immediately
after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by the
Company&rsquo;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. For purposes of this subsection 4.3, &ldquo;Ordinary Cash Dividends&rdquo; means any cash dividend
or cash distribution which, when combined on a per share basis with the per share amounts of all other cash dividends and cash
distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution
(as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends
or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on
exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.4.</TD><TD><U>Adjustments in Exercise Price</U>. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants
is adjusted, as provided in Section 4.1 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.5.</TD><TD><U>Replacement of Securities upon Reorganization, etc</U>. In case of any reclassification or reorganization of the outstanding
shares of Common Stock (other than a change covered by Section 4.1 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 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 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, 4.4 and this Section 4.5. The provisions of this Section 4.5 shall
similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.6.</TD><TD><U>Notices of Changes in Warrant</U>. Upon every adjustment of the Warrant Price or the number of shares of Common Stock 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 of Common Stock 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, 4.2, 4.3, 4.4 or 4.5, then, in any such
event, the Company shall give written notice to each 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.7.</TD><TD><U>No Fractional Shares</U>. Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company
shall not issue fractional shares upon exercise of Warrants. If the holder of any Warrant would be entitled, upon the exercise
of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round down to the nearest
whole number the number of the shares of Common Stock to be issued to the Warrant holder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.8.</TD><TD><U>Form of Warrant</U>. 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; provided, however, that 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 exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so
changed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.9.</TD><TD><U>Other Events</U>. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid
an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company
shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing,
which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate
the intent and purpose of this Section 4 and, if such firm determines that an adjustment is necessary, the terms of such adjustment.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><U>Transfer and Exchange of Warrants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.1.</TD><TD><U>Registration of Transfer</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.2.</TD><TD><U>Procedure for Surrender of Warrants</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.3.</TD><TD><U>Fractional Warrants</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.4.</TD><TD><U>Service Charges</U>. No service charge shall be made for any exchange or registration of transfer of Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.5.</TD><TD><U>Warrant Execution and Countersignature</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.6.</TD><TD><U>Private Warrants and $15 Exercise Price Sponsor Warrants</U>. The Warrant Agent shall not register any transfer of Private
Warrants or $15 Exercise Price Sponsor Warrants until after the consummation by the Company of a Business Combination, except for
transfers made in accordance with (a) in the case of Private Warrants, the Private Units Purchase Agreement between the Company
and 1347 Investors (the &ldquo;Private Units Purchase Agreement&rdquo;) and (b) in the case of the $15 Exercise Price Sponsor Warrants,
the $15 Exercise Price Sponsor Warrants Purchase Agreement between the Company and 1347 Investors (the &ldquo;$15 Exercise Price
Sponsor Warrants Purchase Agreement&rdquo;), in each case on the condition that prior to such registration for transfer, the Warrant
Agent shall be presented with written documentation pursuant to which each transferee or the trustee or legal guardian for such
transferee agrees to be bound by the terms of the Private Units Purchase Agreement (in the case of the Private Warrants) or the
$15 Exercise Price Sponsor Warrants Purchase Agreement (in the case of the $15 Exercise Price Sponsor Warrants).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><U>Redemption</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.1.</TD><TD><U>Redemption</U>. Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option
of the Company, at any time while they are 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 (&ldquo;Redemption Price&rdquo;), provided that the last
sale price of the Common Stock has been at least $24.00 per share (subject to adjustment in accordance with Section 4 hereof),
on each of twenty (20) trading days within any thirty (30) trading day period (&ldquo;30-Day Trading Period&rdquo;) ending on the
third business day prior to the date on which notice of redemption is given and provided further that there is a current registration
statement in effect with respect to the shares of Common Stock underlying the Warrants for each day in the 30-Day Trading Period
and continuing each day thereafter until the Redemption Date (defined below).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.2.</TD><TD><U>Date Fixed for, and Notice of, Redemption</U>. In the event the Company shall elect to redeem all of the Warrants, the Company
shall fix a date for the redemption (the &ldquo;Redemption Date&rdquo;). Notice of redemption shall be mailed by first class mail,
postage prepaid, by the Company not less than 30 days prior to the Redemption Date to the registered holders of the Warrants to
be redeemed at their last addresses as they shall appear on the registration books. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.3.</TD><TD><U>Exercise After Notice of Redemption</U>. The Warrants may be exercised, for cash (or on a &ldquo;cashless basis&rdquo; 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 Redemption Date. In the event the Company determines to require holders of Public Warrants
to exercise their Public Warrants on a &ldquo;cashless basis&rdquo; pursuant to Section 3.3.1(b), the notice of redemption will
contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Public
Warrants, including the &ldquo;Fair Market Value&rdquo; in such case. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.4.</TD><TD><U>Exclusion of Certain Warrants</U>. 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 is met. Additionally, any of the Private Warrants or $15 Exercise Price Sponsor Warrants
shall not be redeemable by the Company as long as such Private Warrants or $15 Exercise Price Sponsor Warrants continue to be held
by the initial purchasers or their permitted transferees (as prescribed in Section 5.6 hereof). However, once such Private Warrants
or $15 Exercise Price Sponsor Warrants are no longer held by the initial purchasers or their permitted transferees, such Private
Warrants or $15 Exercise Price Sponsor Warrants shall then be redeemable by the Company pursuant to <U>Section 6</U> hereof. The
provisions of this Section 6.4 may not be modified, amended or deleted without the prior written consent of EBC.</TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD><U>Other Provisions Relating to Rights of Holders of Warrants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.1.</TD><TD><U>No Rights as Shareholder</U>. A Warrant does not entitle the registered holder thereof to any of the rights of a shareholder
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 shareholders in respect of the meetings of shareholders or the election of
directors of the Company or any other matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.2.</TD><TD><U>Lost, Stolen, Mutilated, or Destroyed Warrants</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.3.</TD><TD><U>Reservation of Shares of Common Stock</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.4.</TD><TD><U>Registration of Shares of Common Stock</U>. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) business days after the closing of a Business Combination, it shall use its best efforts to file with the SEC a registration
statement for the registration under the Act of the shares of Common Stock issuable upon exercise of the Warrants, and to cause
the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating
thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. In addition, the Company agrees
to use its best efforts to register the shares of Common Stock issuable upon exercise of the Warrants under state blue sky laws,
to the extent an exemption is not available. If any such registration statement has not been declared effective by the 60<SUP>th
</SUP>business day following the closing of the Business Combination, holders of the Warrants shall have the right, during the
period beginning on the 61st day after the closing of the Business Combination and ending upon such registration statement being
declared effective by the SEC, and during any other period after such date of effectiveness when the Company shall fail to have
maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise
such Warrants on a &ldquo;cashless basis&rdquo; as determined in accordance with <U>Section 3.3.1(d)</U>. The Company shall provide
the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience)
stating that (i) the issuance of shares of Common Stock upon exercise of the Warrants on a cashless basis in accordance with this
<U>Section 7.4</U> is not required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise
will be freely tradable under U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144
under the Act) of the Company and, accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt,
unless and until all of the Warrants have been exercised on a cashless basis, the Company shall continue to be obligated to comply
with its registration obligations with respect to those Warrants under the first three sentences of this <U>Section 7.4</U>. The
provisions of this <U>Section 7.4</U> may not be modified, amended or deleted without the prior written consent of EBC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD><U>Concerning the Warrant Agent and Other Matters</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.1.</TD><TD><U>Payment of Taxes</U>. 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 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.2.</TD><TD><U>Resignation, Consolidation, or Merger of Warrant Agent</U>.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.2.1.</TD><TD><U>Appointment of Successor Warrant Agent</U>. 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&rsquo; 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 thirty (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&rsquo;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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.2.2.</TD><TD><U>Notice of Successor Warrant Agent</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.2.3.</TD><TD><U>Merger or Consolidation of Warrant Agent</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.3.</TD><TD><U>Fees and Expenses of Warrant Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.3.1.</TD><TD><U>Remuneration</U>. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in
the execution of its duties hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.3.2.</TD><TD><U>Further Assurances</U>. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.4.</TD><TD><U>Liability of Warrant Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.4.1.</TD><TD><U>Reliance on Company Statement</U>. 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 Chief Executive Officer 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.</TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.4.2.</TD><TD><U>Indemnity</U>. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or 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&rsquo;s gross negligence, willful misconduct, or bad faith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">8.4.3.</TD><TD><U>Exclusions</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.5.</TD><TD><U>Acceptance of Agency</U>. 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 Common Stock through the exercise of Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.6.</TD><TD><U>Waiver</U>. The Warrant Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind
(&ldquo;Claim&rdquo;) in or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement,
dated as of the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek
recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD><U>Miscellaneous Provisions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.1.</TD><TD><U>Successors</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.2.</TD><TD><U>Notices</U>. 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:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Attn: Hassan R. Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Compliance Department</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">with a copy in each case to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">McDermott Will &amp; Emery LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">340 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10173</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Joel L. Rubinstein</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Graubard Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Chrysler Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">405 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10174</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: David Alan Miller, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Michael Powell, Managing Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.3.</TD><TD><U>Applicable Law</U>. 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, without giving effect to conflicts of law principles that would result in
the application of the substantive 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 any of such
courts represent an inconvenient 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.4.</TD><TD><U>Persons Having Rights under this Agreement</U>. 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 and, for the purposes of Sections 2.5, 6.4, 7.4, 9.4 and 9.8 hereof,
EBC, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise,
or agreement hereof. EBC shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 2.5, 6.4, 7.4,
9.4 and 9.8 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 EBC with respect to Sections 2.5, 6.4, 7.4, 9.4 and 9.8 hereof)
and their successors and assigns and of the registered holders of the Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.5.</TD><TD><U>Examination of the Warrant Agreement</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.6.</TD><TD><U>Counterparts</U>. This Agreement may be executed in any number of original or facsimile 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.</TD></TR></TABLE>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.7.</TD><TD><U>Effect of Headings</U>. The Section headings herein are for convenience only and are not part of this Warrant Agreement
and shall not affect the interpretation thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.8.</TD><TD><U>Amendments</U>. This Agreement 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 modifications
or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written
consent or vote of the registered holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company
may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without
the consent of the registered holders. The provisions of this Section 9.8 may not be modified, amended or deleted without the prior
written consent of EBC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.9.</TD><TD><U>Severability</U>. This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term or
provision hereof shall not affect the validity or enforceability of this Warrant Agreement or of any other term or provision hereof.
Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added
as a part of this Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible
and be valid and enforceable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, this Agreement has been
duly executed by the parties hereto as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Gordon G. Pratt</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: President, Chief Executive Officer and Director</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">CONTINENTAL STOCK TRANSFER &amp; TRUST COMPANY</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Monty Harry</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Monty Harry</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Vice President</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Warrant Agreement between
1347 Capital Corp. and Continental Stock Transfer &amp; Trust Company]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>6
<FILENAME>v384170_ex4-2.htm
<DESCRIPTION>RIGHTS AGREEMENT BETWEEN 1347 CAPITAL CORP. AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RIGHTS AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Rights Agreement (this &ldquo;Agreement&rdquo;)
is made as of July 15, 2014 between 1347 Capital Corp., a Delaware corporation, with offices at 150 Pierce Road, 6th Floor, Itasca,
IL 60143 (the &ldquo;Company&rdquo;), and Continental Stock Transfer &amp; Trust Company, a New York corporation, with offices
at 17 Battery Place, New York, New York 10004 (the &ldquo;Right Agent&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company has received a firm
commitment from EarlyBirdCapital, Inc. (&ldquo;EBC&rdquo;) to purchase up to an aggregate of 4,600,000 units, each unit (&ldquo;Unit&rdquo;)
comprised of one share of the Company&rsquo;s common stock, par value $.0001 per share (&ldquo;Common Stock&rdquo;), one right
to receive one-tenth of one share of Common Stock (a &ldquo;Public Right&rdquo;) upon the happening of the triggering event described
herein and one warrant to purchase one-half of one share of Common Stock (a &ldquo;Warrant&rdquo;), and in connection therewith,
will issue and deliver up to an aggregate of 4,600,000 Public Rights upon consummation of such public offering (&ldquo;Public Offering&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, simultaneously with the consummation
of the Public Offering, the Company will issue and deliver up to an aggregate of 198,000 rights underlying private units (the &ldquo;Private
Rights&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, in connection with the Public Offering,
the Company will issue and deliver up to 300,000 rights (underlying unit purchase options) to EBC or its designees (&ldquo;EBC
Rights&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, subsequent to the Public Offering,
the Company may issue and deliver up to 500,000 rights underlying units it may issue in satisfaction of certain working capital
loans (the &ldquo;WCL Rights&rdquo; and, together with the Public Rights, the Private Rights and the EBC Rights, the &ldquo;Rights&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company has filed with the
Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a Registration Statement on Form S-1, File No. 333-195695 (&ldquo;Registration
Statement&rdquo;), for the registration, under the Securities Act of 1933, as amended (&ldquo;Act&rdquo;) of, among other securities,
the Public Rights and the shares of Common Stock issuable to the holders of the Public Rights;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company desires the Right Agent
to act on behalf of the Company, and the Right Agent is willing to so act, in connection with the issuance, registration, transfer
and exchange of the Rights;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company desires to provide
for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of
rights, and immunities of the Company, the Right Agent, and the holders of the Rights; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, all acts and things have been done
and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf
of the Right Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution
and delivery of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
mutual agreements herein contained, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><U>Appointment of Right Agent</U>. The Company hereby appoints the Right Agent to act as agent for the Company for the Rights,
and the Right Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions
set forth in this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><U>Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.1.</TD><TD><U>Form of Right</U>. Each Right 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 Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the
Company&rsquo;s seal. In the event the person whose facsimile signature has been placed upon any Right shall have ceased to serve
in the capacity in which such person signed the Right before such Right 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.2.</TD><TD><U>Effect of Countersignature</U>. Unless and until countersigned by the Right Agent pursuant to this Agreement, a Right shall
be invalid and of no effect and may not be exchanged for shares of Common Stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.3.</TD><TD><U>Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.1.</TD><TD><U>Right Register</U>. The Right Agent shall maintain books (&ldquo;Right Register&rdquo;) for the registration of original
issuance and the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Right Agent shall issue and
register the Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Right Agent by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.2.</TD><TD><U>Registered Holder</U>. Prior to due presentment for registration of transfer of any Right, the Company and the Right Agent
may deem and treat the person in whose name such Right shall be registered upon the Right Register (&ldquo;registered holder&rdquo;)
as the absolute owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing
on the Right Certificate made by anyone other than the Company or the Right Agent), for the purpose of the exchange thereof, and
for all other purposes, and neither the Company nor the Right Agent shall be affected by any notice to the contrary.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.4.</TD><TD><U>Detachability of Rights</U>. The securities comprising the Units, including the Rights, will not be separately transferable
until the ninetieth (90<SUP>th</SUP>) day after the date hereof unless EBC informs the Company of its decision to allow earlier
separate trading, but in no event will separate trading of the securities comprising the Units begin until (i) the Company files
a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment
option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current Report on Form 8-K announcing
when such separate trading shall begin.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><U>Terms and Exchange of Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.1.</TD><TD><U>Rights</U>. Each Right shall entitle the holder thereof to receive one-tenth of one share of Common Stock upon the happening
of an Exchange Event (described below). No additional consideration shall be paid by a holder of Rights in order to receive his,
her or its shares of Common Stock upon an Exchange Event as the purchase price for such shares of Common Stock has been included
in the purchase price for the Units. In no event will the Company be required to net cash settle the Rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.2.</TD><TD><U>Exchange Event</U>. An Exchange Event shall occur upon the Company&rsquo;s consummation of an initial Business Combination
(as defined in the Company&rsquo;s Amended and Restated Certificate of Incorporation).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.3.</TD><TD><U>Exchange of Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.1.</TD><TD><U>Issuance of Certificates</U>. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct
holders of the Rights to return their Rights Certificates to the Right Agent. Upon receipt of a valid Rights Certificate, the Company
shall issue to the registered holder of such Right(s) 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">Notwithstanding the foregoing, or any provision contained
in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not
issue fractional shares upon exchange of Rights. At the time of an Exchange Event, the Company will either instruct the Right Agent
to round up to the nearest whole share of Common Stock or otherwise inform it how fractional shares will be addressed in accordance
with Section 155 of the Delaware General Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.2.</TD><TD><U>Valid Issuance</U>. All shares of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be
validly issued, fully paid and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.3.</TD><TD><U>Date of Issuance</U>. Each person in whose name any such certificate for Common Stock is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery
of such certificate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">3.3.4.</TD><TD><U>Company Not Surviving Following Exchange Event</U>. Upon an Exchange Event in which the Company does not continue as the
publicly held reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration
the holders of the Common Stock will receive in such transaction, for the number of shares such holder is entitled to pursuant
to Section 3.1 above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.4.</TD><TD><U>Duration of Rights</U>. If an Exchange Event does not occur within 18 months from the closing of the Public Offering, or
24 months from the closing of the Public Offering if the Company has entered into a letter of intent or definitive agreement with
a target business for a Business Combination within 18 months from the closing of the Public Offering and such Business Combination
has not yet been consummated within such 18-month period, the Rights shall expire and shall be worthless.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><U>Transfer and Exchange of Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.1.</TD><TD><U>Registration of Transfer</U>. The Right Agent shall register the transfer, from time to time, of any outstanding Right upon
the Right Register, upon surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied
by appropriate instructions for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights
shall be issued and the old Right shall be cancelled by the Right Agent. The Rights so cancelled shall be delivered by the Right
Agent to the Company from time to time upon request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.2.</TD><TD><U>Procedure for Surrender of Rights</U>. Rights may be surrendered to the Right Agent, together with a written request for
exchange or transfer, and thereupon the Right Agent shall issue in exchange therefor one or more new Rights as requested by the
registered holder of the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the
event that a Right surrendered for transfer bears a restrictive legend, the Right Agent shall not cancel such Right and issue new
Rights in exchange therefor until the Right Agent has received an opinion of counsel for the Company stating that such transfer
may be made and indicating whether the new Rights must also bear a restrictive legend.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.3.</TD><TD><U>Fractional Rights</U>. The Right Agent shall not be required to effect any registration of transfer or exchange which will
result in the issuance of a Right Certificate for a fraction of a Right.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.4.</TD><TD><U>Service Charges</U>. No service charge shall be made for any exchange or registration of transfer of Rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.5.</TD><TD><U>Right Execution and Countersignature</U>. The Right Agent is hereby authorized to countersign and to deliver, in accordance
with the terms of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company,
whenever required by the Right Agent, will supply the Right Agent with Rights duly executed on behalf of the Company for such purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><U>Other Provisions Relating to Rights of Holders of Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.1.</TD><TD><U>No Rights as Shareholder</U>. Until exchange of a Right for shares of Common Stock as provided for herein, a Right does
not entitle the registered holder thereof to any of the rights of a shareholder 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 shareholders in respect of the meetings of shareholders or the election of directors of the Company or any other matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.3in">&nbsp;&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.2.</TD><TD><U>Lost, Stolen, Mutilated, or Destroyed Rights</U>. If any Right is lost, stolen, mutilated, or destroyed, the Company and
the Right 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 Right, include the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost,
stolen, mutilated, or destroyed. Any such new Right shall constitute a substitute contractual obligation of the Company, whether
or not the allegedly lost, stolen, mutilated, or destroyed Right shall be at any time enforceable by anyone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.3.</TD><TD><U>Reservation of Common Stock</U>. 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 exchange of all outstanding Rights issued pursuant to this
Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><U>Concerning the Right Agent and Other Matters</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.1.</TD><TD><U>Payment of Taxes</U>. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the
Company or the Right Agent in respect of the issuance or delivery of shares of Common Stock upon the exchange of Rights, but the
Company shall not be obligated to pay any transfer taxes in respect of the Rights or such shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.2.</TD><TD><U>Resignation, Consolidation, or Merger of Right Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.2.1.</TD><TD><U>Appointment of Successor Right Agent</U>. The Right 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&rsquo; notice in writing to the
Company. If the office of the Right Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint
in writing a successor Right Agent in place of the Right 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 Right Agent or by the holder of the Right
(who shall, with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply
to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Right Agent at the
Company&rsquo;s cost. Any successor Right 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 Right Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Right Agent with like effect as if originally named as Right Agent hereunder,
without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Right Agent shall execute
and deliver, at the expense of the Company, an instrument transferring to such successor Right Agent all the authority, powers,
and rights of such predecessor Right Agent hereunder; and upon request of any successor Right 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
Right Agent all such authority, powers, rights, immunities, duties, and obligations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.2.2.</TD><TD><U>Notice of Successor Right Agent</U>. In the event a successor Right Agent shall be appointed, the Company shall give notice
thereof to the predecessor Right Agent and the transfer agent for the Common Stock not later than the effective date of any such
appointment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.2.3.</TD><TD><U>Merger or Consolidation of Right Agent</U>. Any corporation into which the Right Agent may be merged or with which it may
be consolidated or any corporation resulting from any merger or consolidation to which the Right Agent shall be a party shall be
the successor Right Agent under this Agreement without any further act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.3in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.3.</TD><TD><U>Fees and Expenses of Right Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.3.1.</TD><TD><U>Remuneration</U>. The Company agrees to pay the Right Agent reasonable remuneration for its services as such Right Agent
hereunder and will reimburse the Right Agent upon demand for all expenditures that the Right Agent may reasonably incur in the
execution of its duties hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.3.2.</TD><TD><U>Further Assurances</U>. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Right
Agent for the carrying out or performing of the provisions of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.4.</TD><TD><U>Liability of Right Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.4.1.</TD><TD><U>Reliance on Company Statement</U>. Whenever in the performance of its duties under this Agreement, the Right 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 Chief Executive Officer or Chief Financial Officer and delivered
to the Right Agent. The Right Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant
to the provisions of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.4.2.</TD><TD><U>Indemnity</U>. The Right Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Right Agent and save it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Right Agent in the execution of this Agreement except as a result
of the Right Agent&rsquo;s gross negligence, willful misconduct, or bad faith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.4.3.</TD><TD><U>Exclusions</U>. The Right Agent shall have no responsibility with respect to the validity of this Agreement or with respect
to the validity or execution of any Right (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 Right; nor shall it by any act hereunder be deemed
to make any representation or warranty as to the authorization or reservation of any Common Stock to be issued pursuant to this
Agreement or any Right or as to whether any Common Stock will, when issued, be valid and fully paid and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.5.</TD><TD><U>Acceptance of Agency</U>. The Right Agent hereby accepts the agency established by this Agreement and agrees to perform
the same upon the terms and conditions herein set forth.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.6.</TD><TD><U>Waiver</U>. The Right Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind
(&ldquo;Claim&rdquo;) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust
Agreement, dated as of the date hereof, by and between the Company and the Right Agent as trustee thereunder) and hereby agrees
not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD><U>Miscellaneous Provisions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.1.</TD><TD><U>Successors</U>. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Right Agent
shall bind and inure to the benefit of their respective successors and assigns.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.2.</TD><TD><U>Notices</U>. Any notice, statement or demand authorized by this Agreement to be given or made by the Right Agent or by the
holder of any Right 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 Right Agent), as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.3in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: Hassan R. Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Any notice, statement or demand authorized by this
Agreement to be given or made by the holder of any Right or by the Company to or on the Right 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 Right Agent with the Company),
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attn: Compliance Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">with a copy in each case to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">McDermott Will &amp; Emery LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">340 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10173</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Joel L. Rubinstein</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Graubard Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Chrysler Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">405 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10174</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: David Alan Miller, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Michael Powell, Managing Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.3.</TD><TD><U>Applicable Law</U>. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed
in all respects by 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. 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 inconvenient 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 7.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action,
proceeding or claim.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.4.</TD><TD><U>Persons Having Rights under this Agreement</U>. 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 Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, EBC, any
right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. EBC shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof.
All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive
benefit of the parties hereto (and EBC with respect to Sections 3.1, 7.4 and 7.8 hereof) and their successors and assigns and of
the registered holders of the Rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.5.</TD><TD><U>Examination of this Agreement</U>. A copy of this Agreement shall be available at all reasonable times at the office of
the Right Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right.
The Right Agent may require any such holder to submit his, her or its Right for inspection by it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.6.</TD><TD><U>Counterparts</U>. This Agreement may be executed in any number of original or facsimile 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.7.</TD><TD><U>Effect of Headings</U>. The Section headings herein are for convenience only and are not part of this Agreement and shall
not affect the interpretation thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.8.</TD><TD><U>Amendments</U>. This Agreement 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 modifications
or amendments shall require the written consent or vote of the registered holders of a majority of the then outstanding Rights.
The provisions of this Section 7.8 may not be modified, amended or deleted without the prior written consent of EBC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">7.9.</TD><TD><U>Severability</U>. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page Follows]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, this Agreement has been
duly executed by the parties hereto as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 CAPITAL CORP.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD NOWRAP STYLE="font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Gordon G.</FONT> Pratt</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CONTINENTAL STOCK TRANSFER &amp; TRUST COMPANY&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD NOWRAP STYLE="font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Monty Harry</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Monty Harry</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Vice President</P></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Rights Agreement between
1347 Capital Corp. and Continental Stock Transfer &amp; Trust Company]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<TYPE>EX-4.3
<SEQUENCE>7
<FILENAME>v384170_ex4-3.htm
<DESCRIPTION>EX-4.3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.3</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNIT PURCHASE OPTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THE REGISTERED HOLDER OF THIS PURCHASE OPTION, BY ITS ACCEPTANCE
HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED, AND THE REGISTERED HOLDER
OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD
OF ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) EARLYBIRDCAPITAL, INC. (&ldquo;<B><U>EBC</U></B>&rdquo;)
OR AN UNDERWRITER OR SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF EBC OR OF ANY SUCH
UNDERWRITER OR SELECTED DEALER, EXCEPT IN ACCORDANCE WITH FINRA RULE 5110(G)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF
THE CONSUMMATION BY 1347 CAPITAL CORP. (THE &ldquo;<B><U>COMPANY</U></B>&rdquo;) <FONT STYLE="text-transform: uppercase">OF a merger,
SHARE exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination involving
the COMPANY and one or more businesses or entities</FONT> (A &ldquo;<B><U>BUSINESS COMBINATION</U></B>&rdquo;) (AS DESCRIBED MORE
FULLY IN THE COMPANY&rsquo;S REGISTRATION STATEMENT (DEFINED HEREIN)) AND JULY 15, 2015. VOID AFTER 5:00 P.M. NEW YORK CITY LOCAL
TIME, ON JULY 15, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNIT PURCHASE OPTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE PURCHASE OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>300,000 UNITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1347 CAPITAL CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><B>Purchase Option</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS CERTIFIES THAT, in consideration of $100 duly paid by or
on behalf of [_____________] (the &ldquo;<B><U>Holder</U></B>&rdquo;), as registered owner of this Purchase Option, to 1347 Capital
Corp. (the &ldquo;<B><U>Company</U></B>&rdquo;), the Holder is entitled, at any time or from time to time upon the later of the
consummation of a Business Combination or July 15, 2015 (the &ldquo;<B><U>Commencement Date</U></B>&rdquo;), and at or before 5:00
p.m., New York City local time, on the five-year anniversary of the effective date (the &ldquo;<B><U>Effective Date</U></B>&rdquo;)
of the Company&rsquo;s registration statement on Form S-1 (File No. 333-195695) (the &ldquo;<B><U>Registration Statement</U></B>&rdquo;)
pursuant to which Units are offered for sale to the public (the &ldquo;<B><U>Offering</U></B>&rdquo;), but not thereafter (the
&ldquo;<B><U>Expiration Date</U></B>&rdquo;), to subscribe for, purchase and receive, in whole or in part, up to three hundred
thousand (300,000) units (&ldquo;<B><U>Units</U></B>&rdquo;) of the Company, each Unit consisting of one share of Common Stock
of the Company, par value $0.0001 per share (&ldquo;<B><U>Common Stock</U></B>&rdquo;), one right (a &ldquo;<B>Right</B>&rdquo;)
entitling the holder to automatically receive one-tenth (1/10) of a share of Common Stock upon consummation of a Business Combination,
and one warrant (a &ldquo;<B><U>Warrant</U></B>&rdquo;) entitling the holder thereof to purchase one-half of one share of Common
Stock at a price of $11.50 per full share, as more fully described in the Registration Statement. If the Expiration Date is a day
on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding
day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, neither this Purchase
Option nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date.
During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option.
This Purchase Option is initially exercisable at one hundred percent (100%) of the initial public offering price per Unit so purchased;
provided, however, that, upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase
Option, including the exercise price per Unit and the number of Units (and Common Stock, Rights and Warrants) to be received upon
such exercise, shall be adjusted as therein specified. The term &ldquo;Exercise Price&rdquo; shall mean the initial exercise price
or the adjusted exercise price, depending on the context.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><B>Exercise.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.1.</TD><TD><U>Exercise Form</U>. In order to exercise this Purchase Option, the exercise form, in substantially the form attached hereto
as Exhibit A (the &ldquo;<B><U>Exercise Form</U></B>&rdquo;) must be duly executed and completed and delivered to the Company,
together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable in cash or by certified
check or official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., New
York City local time, on the Expiration Date, this Purchase Option shall become and be void without further force or effect, and
all rights represented hereby shall cease and expire.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.2.</TD><TD><U>Legend</U>. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless
such securities have been registered under the Securities Act of 1933, as amended (the &ldquo;<B><U>Act</U></B>&rdquo;):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&ldquo;The securities represented by this certificate
have not been registered under the Securities Act of 1933, as amended (&ldquo;Act&rdquo;) or applicable state law. The securities
may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration statement under the Act,
or pursuant to an exemption from registration under the Act and applicable state law.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.3.</TD><TD><U>Cashless Exercise</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.1.</TD><TD><U>Determination of Amount</U>. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this
Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock, Rights and Warrants) in the manner required
by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of
this Purchase Option into Units (&ldquo;<B><U>Cashless Exercise Right</U></B>&rdquo;) as follows: upon exercise of the Cashless
Exercise Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that
number of Units (or that number of shares of Common Stock, Rights and Warrants comprising that number of Units) equal to the quotient
obtained by dividing (x) the &ldquo;Value&rdquo; (as defined below) of the portion of the Purchase Option being converted by (y)
the Current Market Value (as defined below). The &ldquo;Value&rdquo; of the portion of the Purchase Option being converted shall
equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion
of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying
the portion of the Purchase Option being converted. As used herein, the term &ldquo;Current Market Value&rdquo; per Unit at any
date means: (A) in the event that neither the Units, Rights nor Warrants are still trading, (i) the Current Market Price of the
Common Stock multiplied by (ii) the number of shares of Common Stock underlying one Unit, which shall include (x) the one-tenth
(1/10) of a share of Common Stock the holder of a Unit will automatically receive in connection with the Right included in each
such Unit and (y) the one-half (1/2) of a share of Common Stock underlying the Warrant included in each such Unit; (B) in the event
that the Units, Common Stock, Rights and Warrants are still trading, (i) if the Units are listed on a national securities exchange,
the average reported last sale price of the Units in the principal trading market for the Units as reported by the exchange for
the five trading days preceding the date in question; or (ii) if the Units are not listed on a national securities exchange, but
are quoted on the residual over-the-counter market, the average reported last sale price for Units on the five trading days preceding
the date in question for which such quotations are reported by the OTC Markets or similar publisher of such quotations; and (C)
in the event that the Units are not still trading but the Common Stock, Rights and Warrants are still trading, the Current Market
Price of the Common Stock plus (i) the product of (x) the Current Market Price of the Rights and (y) the number of shares of Common
Stock in the Rights that will automatically convert to Common Stock included in one Unit and (ii) the product of (x) the Current
Market Price of the Warrants and (y) the number of shares of Common Stock in the Warrants that will be exercisable for Common Stock
included in one Unit. The &ldquo;Current Market Price&rdquo; shall mean (i) if the Common Stock, Rights or Warrants (as the case
may be) is/are listed on a national securities exchange, the average reported last sale price of the Common Stock, Rights or Warrants
(as the case may be) in the principal trading market for the Common Stock, Rights or Warrants (as the case may be) as reported
by the exchange on the five trading days preceding the date in question; (ii) if the Common Stock, Rights or Warrants (as the case
may be) is/are not listed on a national securities exchange, but is/are traded in the residual over-the-counter market, the average
reported last sale price for the Common Stock, Rights or Warrants (as the case may be) on the five trading days preceding the date
in question for which such quotations are reported by the OTC Markets or similar publisher of such quotations; and (iii) if the
fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors
of the Company shall determine, in good faith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">2.3.2.</TD><TD><U>Mechanics of Cashless Exercise</U>. The Cashless Exercise Right may be exercised by the Holder on any business day on or
after the Commencement Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed Exercise
Form with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total
number of Units the Holder will purchase pursuant to such Cashless Exercise Right.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">2.4.</TD><TD><U>No Obligation to Net Cash Settle</U>. Notwithstanding anything to the contrary contained in this Purchase Option, in no
event will the Company be required to net cash settle the exercise of the Purchase Option or the Rights or Warrants underlying
the Purchase Option. The holder of the Purchase Option will not be entitled to exercise the Purchase Option unless it exercises
such Purchase Option pursuant to the Cashless Exercise Right or a registration statement is effective, or an exemption from the
registration requirements is available at such time and, if the holder is not able to exercise the Purchase Option, the Purchase
Option will expire worthless.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><B>Transfer</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.1.</TD><TD><U>General Restrictions</U>. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not
sell, transfer, assign, pledge or hypothecate this Purchase Option (or the Common Stock, Rights and Warrants underlying this Purchase
Option) for a period of one year (including a period of 180 days pursuant to Rule 5110(g)(1) of the Conduct Rules of the Financial
Industry Regulatory Authority (&ldquo;<B><U>FINRA</U></B>&rdquo;) following the Effective Date to anyone other than (i) EBC or
an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of EBC or of any such
underwriter or selected dealer. On and after the first anniversary of the Effective Date, transfers to others may be made subject
to compliance with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver
to the Company the assignment form in substantially the form attached hereto as Exhibit B (the &ldquo;<B><U>Assignment Form</U></B>&rdquo;),
duly executed and completed, together with the Purchase Option and payment of all transfer taxes, if any, payable in connection
therewith. The Company shall within five business days transfer this Purchase Option on the books of the Company and shall execute
and deliver a new Purchase Option or Purchase Options of like tenor to the appropriate assignee(s) expressly evidencing the right
to purchase the aggregate number of Units purchasable hereunder or such portion of such number as shall be contemplated by any
such assignment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.2.</TD><TD><U>Restrictions Imposed by the Act</U>. The securities evidenced by this Purchase Option shall not be transferred unless and
until (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an
exemption from registration under the Act and applicable state securities laws, the availability of which is established to the
reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Graubard Miller shall be deemed satisfactory
evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration
Statement relating to such securities has been filed by the Company and declared effective by the Securities and Exchange Commission
(the &ldquo;<B><U>Commission</U></B>&rdquo;) and compliance with applicable state securities law has been established.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><B>New Purchase Options to be Issued</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.1.</TD><TD><U>Partial Exercise or Transfer</U>. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised
or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase
Option for cancellation, together with the duly executed Exercise Form or Assignment Form and funds sufficient to pay any Exercise
Price and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor
to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable
hereunder as to which this Purchase Option has not been exercised or assigned.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.2.</TD><TD><U>Lost Certificate</U>. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and
deliver a new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss,
theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><B>Registration Rights</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.1.</TD><TD><U>Demand Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.1.</TD><TD><U>Grant of Right</U>. The Company, upon written demand (&ldquo;<B><U>Initial Demand Notice</U></B>&rdquo;) of the Holder(s)
of at least 51% of the Purchase Options and/or the underlying Units and/or the underlying securities (&ldquo;<B><U>Majority Holders</U></B>&rdquo;),
agrees to use its best efforts to register (the &ldquo;<B><U>Demand Registration</U></B>&rdquo;) under the Act on one occasion,
all or any portion of the Purchase Options requested by the Majority Holders in the Initial Demand Notice and all of the securities
underlying such Purchase Options, including the Units, Common Stock, the Rights, the Warrants and the Common Stock included in
the Rights and Warrants (collectively, the &ldquo;<B><U>Registrable Securities</U></B>&rdquo;). On such occasion, the Company will
use its best efforts to file a registration statement or a post-effective amendment to the Registration Statement covering the
Registrable Securities within sixty days after receipt of the Initial Demand Notice and use its best efforts to have such registration
statement or post-effective amendment declared effective as soon as possible thereafter. The demand for registration may be made
at any time during a period of five years beginning on the Effective Date. The Initial Demand Notice shall specify the number of
shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify
all holders of the Purchase Options and/or Registrable Securities of the demand within ten days from the date of the receipt of
any such Initial Demand Notice. Each holder of Registrable Securities who wishes to include all or a portion of such holder&rsquo;s
Registrable Securities in the Demand Registration (each such holder including shares of Registrable Securities in such registration,
a &ldquo;<B><U>Demanding Holder</U></B>&rdquo;) shall so notify the Company within fifteen (15) days after the receipt by the holder
of the notice from the Company. Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities
included in the Demand Registration, subject to Section 5.1.4. The Company shall not be obligated to effect more than one (1) Demand
Registrations under this Section 5.1 in respect of all Registrable Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.2.</TD><TD><U>Effective Registration</U>. A registration will not count as a Demand Registration until the registration statement filed
with the Commission with respect to such Demand Registration has been declared effective and the Company has complied with all
of its obligations under this Agreement with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.3.</TD><TD><U>Underwritten Offering</U>. If the Majority Holders so elect and such holders so advise the Company as part of the Initial
Demand Notice, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten
offering. In such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned
upon such holder&rsquo;s participation in such underwriting and the inclusion of such holder&rsquo;s Registrable Securities in
the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their securities through such underwriting
shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting
by the Majority Holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.4.</TD><TD><U>Reduction of Offering</U>. If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten
offering advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock, if any, as to which registration has been requested pursuant to written
contractual piggy-back registration rights held by other stockholders of the Company who desire to sell, exceeds the maximum dollar
amount or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the
timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of
shares, as applicable, the &ldquo;<B><U>Maximum Number of Shares</U></B>&rdquo;), then the Company shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in
accordance with the number of shares that each such Person has requested be included in such registration, regardless of the number
of shares held by each such Person (such proportion is referred to herein as &ldquo;<B><U>Pro Rata</U></B>&rdquo;)) that can be
sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (i), the Common Stock or other securities that the Company desires to sell that can be sold
without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (i) and (ii), the Common Stock or other securities registrable pursuant to the terms of the Registration
Rights Agreement between the Company and the initial investors in the Company, dated as of July 15, 2014 (the &ldquo;<B><U>Registration
Rights Agreement</U></B>&rdquo; and such registrable securities, the &ldquo;<B><U>Investor Securities</U></B>&rdquo;) as to which
&ldquo;piggy-back&rdquo; registration has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the
Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares have not been reached under the foregoing
clauses (i), (ii), and (iii), the Common Stock or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number
of Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.5.</TD><TD><U>Withdrawal</U>. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not
entitled to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may
elect to withdraw from such offering by giving written notice to the Company and the underwriter or underwriters of their request
to withdraw prior to the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration.
If the majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then
the Company does not have to continue its obligations under this Section 5.1 with respect to such proposed offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.1.6.</TD><TD><U>Terms</U>. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the
expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities,
but the Holders shall pay any and all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify
or register the Registrable Securities in such states as are reasonably requested by the Majority Holder(s); provided, however,
that in no event shall the Company be required to register the Registrable Securities in a state in which such registration would
cause (i) the Company to be obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign
corporation doing business in such jurisdiction or (ii) the principal stockholders of the Company to be obligated to escrow their
shares of capital stock of the Company. The Company shall use its best efforts to cause any registration statement or post-effective
amendment filed pursuant to the demand rights granted under Section 5.1.1 to remain effective for a period of nine consecutive
months from the effective date of such registration statement or post-effective amendment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.2.</TD><TD><U>Piggy-Back Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.2.1.</TD><TD><U>Piggy-Back Rights</U>. If at any time during the seven-year period commencing on the Effective Date the Company proposes
to file a registration statement under the Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for stockholders
of the Company for their account (or by the Company and by stockholders of the Company including, without limitation, pursuant
to Section 5.1), other than a registration statement (i) filed in connection with any employee stock option or other benefit plan,
(ii) for an exchange offer or offering of securities solely to the Company&rsquo;s existing stockholders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
(x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable but in no event
less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters,
if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity to register the
sale of such number of shares of Registrable Securities as such holders may request in writing within five (5) days following receipt
of such notice (a &ldquo;<B><U>Piggy-Back Registration</U></B>&rdquo;). The Company shall cause such Registrable Securities to
be included in such registration and shall use its best efforts to cause the managing underwriter or underwriters of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms
and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute
their securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such Piggy-Back Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.2.2.</TD><TD><U>Reduction of Offering</U>. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of shares of
Common Stock which the Company desires to sell, taken together with shares of Common Stock, if any, as to which registration has
been demanded pursuant to written contractual arrangements with persons other than the holders of Registrable Securities hereunder,
the Registrable Securities as to which registration has been requested under this Section 5.2, and the shares of Common Stock,
if any, as to which registration has been requested pursuant to the written contractual piggy-back registration rights of other
stockholders of the Company, exceeds the Maximum Number of Shares, then the Company shall include in any such registration:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 1in; text-indent: 0in; text-align: justify">(a)
If the registration is undertaken for the Company&rsquo;s account: (A) first, the Common Stock or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clause (A), the Common Stock or other securities, if any, comprised of Registrable
Securities and Investor Securities, as to which registration has been requested pursuant to the applicable written contractual
piggy-back registration rights of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares;
and (C) third, to the extent that the Maximum Number of shares has not been reached under the foregoing clauses (A) and (B), the
Common Stock or other securities for the account of other persons that the Company is obligated to register pursuant to written
contractual piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number of Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(b) If the registration is a &ldquo;demand&rdquo; registration
undertaken at the demand of holders of Investor Securities, (A) first, the Common Stock or other securities for the account of
the demanding persons, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that
the Maximum Number of Shares has not been reached under the foregoing clause (A), the Common Stock or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Registrable Securities, Pro Rata,
as to which registration has been requested pursuant to the terms hereof, that can be sold without exceeding the Maximum Number
of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A),
(B) and (C), the Common Stock or other securities for the account of other persons that the Company is obligated to register pursuant
to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(c) If the registration is a &ldquo;demand&rdquo; registration
undertaken at the demand of persons other than either the holders of Registrable Securities or of Investor Securities, (A) first,
the Common Stock or other securities for the account of the demanding persons that can be sold without exceeding the Maximum Number
of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the
Common Stock or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares;
(C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), collectively,
the Common Stock or other securities comprised of Registrable Securities and Investor Securities, Pro Rata, as to which registration
has been requested pursuant to the terms hereof and of the Registration Rights Agreement, as applicable, that can be sold without
exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clauses (A), (B) and (C), the Common Stock or other securities for the account of other persons that the Company
is obligated to register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the
Maximum Number of Shares.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.2.3.</TD><TD><U>Withdrawal</U>. Any holder of Registrable Securities may elect to withdraw such holder&rsquo;s request for inclusion of
Registrable Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior
to the effectiveness of the registration statement. The Company (whether on its own determination or as the result of a withdrawal
by persons making a demand pursuant to written contractual obligations) may withdraw a registration statement at any time prior
to the effectiveness of the registration statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
by the holders of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 5.2.4.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.2.4.</TD><TD><U>Terms</U>. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the
expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities,
but the Holders shall pay any and all underwriting commissions related to the Registrable Securities. In the event of such a proposed
registration, the Company shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen days
written notice prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to
be given for each applicable registration statement filed (during the period in which the Purchase Option is exercisable) by the
Company until such time as all of the Registrable Securities have been registered and sold. The Holders of the Registrable Securities
shall exercise the &ldquo;piggy-back&rdquo; rights provided for herein by giving written notice, within ten days of the receipt
of the Company&rsquo;s notice of its intention to file a registration statement. The Company shall use its best efforts to cause
any registration statement filed pursuant to the above &ldquo;piggyback&rdquo; rights to remain effective for at least nine months
from the date that the Holders of the Registrable Securities are first given the opportunity to sell all of such securities.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.3.</TD><TD><U>General Terms</U>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.1.</TD><TD><U>Indemnification</U>. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any
registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act
or Section 20(a) of the Securities Exchange Act of 1934, as amended (the &ldquo;<B><U>Exchange Act</U></B>&rdquo;), against all
loss, claim, damage, expense or liability (including all reasonable attorneys&rsquo; fees and other expenses reasonably incurred
in investigating, preparing or defending against litigation, commenced or threatened, or any claim whatsoever whether arising out
of any action between the underwriter and the Company or between the underwriter and any third party or otherwise) to which any
of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration statement but only to the
same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify the underwriters contained
in Section 5 of the Underwriting Agreement between the Company, EBC and the other underwriters named therein dated the Effective
Date. The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors and
assigns, shall severally, and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls
the Company within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim, damage,
expense or liability (including all reasonable attorneys&rsquo; fees and other expenses reasonably incurred in investigating, preparing
or defending against any claim whatsoever) to which they may become subject under the Act, the Exchange Act or otherwise, arising
from information furnished by or on behalf of such Holders, or their successors or assigns, in writing, for specific inclusion
in such registration statement to the same extent and with the same effect as the provisions contained in Section 5 of the Underwriting
Agreement pursuant to which the underwriters have agreed to indemnify the Company.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.2.</TD><TD><U>Exercise of Purchase Options</U>. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s)
to exercise their Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.3.</TD><TD><U>Documents Delivered to Holders</U>. The Company shall furnish EBC, as representative of the Holders participating in any
of the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel to the Company,
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, an
opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a &ldquo;cold comfort&rdquo;
letter, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
a letter dated the date of the closing under the underwriting agreement), signed by the independent public accountants who have
issued a report on the Company&rsquo;s financial statements included in such registration statement, in each case covering substantially
the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants&rsquo;
letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer&rsquo;s
counsel and in accountants&rsquo; letters delivered to underwriters in underwritten public offerings of securities. The Company
shall also deliver promptly to EBC, as representative of the Holders participating in the offering, the correspondence and memoranda
described below and copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda
relating to discussions with the Commission or its staff with respect to the registration statement and permit EBC, as representative
of the Holders, to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from
the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation
shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers
and independent auditors, all to such reasonable extent and at such reasonable times and as often as EBC, as representative of
the Holders, shall reasonably request. The Company shall not be required to disclose any confidential information or other records
to EBC, as representative of the Holders, or to any other person, until and unless such persons shall have entered into reasonable
confidentiality agreements (in form and substance reasonably satisfactory to the Company), with the Company with respect thereto.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.4.</TD><TD><U>Underwriting Agreement</U>. The Company shall enter into an underwriting agreement with the managing underwriter(s), if
any, selected by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter
shall be reasonably acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company,
each Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and
such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be
parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option,
require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters
shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties
to or agreements with the Company or the underwriters except as they may relate to such Holders and their intended methods of distribution.
Such Holders, however, shall agree to such covenants and indemnification and contribution obligations for selling stockholders
as are customarily contained in agreements of that type used by the managing underwriter. Further, such Holders shall execute appropriate
custody agreements and otherwise cooperate fully in the preparation of the registration statement and other documents relating
to any offering in which they include securities pursuant to this Section 5. Each Holder shall also furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities
as shall be reasonably required to effect the registration of the Registrable Securities.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.5.</TD><TD><U>Rule 144 Sale</U>. Notwithstanding anything contained in this Section 5 to the contrary, the Company shall have no obligation
pursuant to Sections 5.1 or 5.2 to use its best efforts to obtain the registration of Registrable Securities held by any Holder
(i) where such Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period prescribed
under Rule 144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder, and (ii) where
the number of Registrable Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144 (calculated
as if such Holder were an affiliate within the meaning of Rule 144).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">5.3.6.</TD><TD><U>Supplemental Prospectus</U>. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any
event as a result of which the prospectus included in the registration statement, as then in effect, includes an untrue statement
of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein
not misleading in light of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable
Securities pursuant to the registration statement covering such Registrable Securities until such Holder&rsquo;s receipt of the
copies of a supplemental or amended prospectus, and, if so desired by the Company, such Holder shall deliver to the Company (at
the expense of the Company) or destroy (and deliver to the Company a certificate of such destruction) all copies, other than permanent
file copies then in such Holder&rsquo;s possession, of the prospectus covering such Registrable Securities current at the time
of receipt of such notice.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><B>Adjustments.</B></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.1.</TD><TD><U>Adjustments to Exercise Price and Number of Securities</U>. The Exercise Price and the number of Units underlying the Purchase
Option shall be subject to adjustment from time to time as hereinafter set forth:</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.1.1.</TD><TD><U>Stock Dividends - Split-Ups</U>. If after the date hereof, and subject to the provisions of Section 6.3 below, the number
of shares of outstanding Common Stock is increased by a stock dividend payable in Common Stock or by a split-up of Common Stock
or other similar event, then, on the effective date thereof, the number of shares of Common Stock underlying each of the Units
purchasable hereunder shall be increased in proportion to such increase in outstanding shares. In such case, the number of shares
of Common Stock included in the Right and the Warrant included in each of the Units purchasable hereunder shall be adjusted in
accordance with the terms of the Rights and the Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.1.2.</TD><TD><U>Aggregation of Shares</U>. If, after the date hereof, and subject to the provisions of Section 6.3, the number of shares
of outstanding Common Stock is decreased by a consolidation, combination or reclassification of Common Stock or other similar event,
then, on the effective date thereof, the number of shares of Common Stock underlying each of the Units purchasable hereunder shall
be decreased in proportion to such decrease in outstanding shares. In such case, the number of shares of Common Stock included
in the Right and the Warrant included in each of the Units purchasable hereunder shall be adjusted in accordance with the terms
of the Rights and the Warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.1.3.</TD><TD><U>Replacement of Securities upon Reorganization, etc</U>. In case of any reclassification or reorganization of the outstanding
Common Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such 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
Common Stock), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as an entirety
or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have
the right thereafter (until the expiration of the right of exercise of this Purchase Option) to receive upon the exercise hereof,
for the same aggregate Exercise Price payable hereunder immediately prior to such event, 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, by a Holder of the number of shares of Common Stock (including the
shares of Common Stock included in the Rights and the Warrants) of the Company obtainable upon exercise of this Purchase Option
immediately prior to such event; and if any reclassification also results in a change in Common Stock covered by Section 6.1.1
or 6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section
6.1.3 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.35in">6.1.4.</TD><TD><U>Changes in Form of Purchase Option</U>. This form of Purchase Option need not be changed because of any change pursuant
to this Section, and Purchase Options issued after such change may state the same Exercise Price and the same number of Units as
are stated in the Purchase Option initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of
new Purchase Options reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring
after the Commencement Date or the computation thereof.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.2.</TD><TD><U>Substitute Purchase Option</U>. In case of any consolidation of the Company with, or merger of the Company with, or merger
of the Company into, another corporation (other than a consolidation or merger which does not result in any reclassification or
change of the outstanding Common Stock), the corporation formed by such consolidation or merger shall execute and deliver to the
Holder a supplemental Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall
have the right thereafter (until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option,
the kind and amount of shares of stock and other securities and property receivable upon such consolidation or merger, by a holder
of the number of shares of Common Stock of the Company for which such Purchase Option might have been exercised immediately prior
to such consolidation, merger, sale or transfer. Such supplemental Purchase Option shall provide for adjustments which shall be
identical to the adjustments provided in Section 6. The above provision of this Section shall similarly apply to successive consolidations
or mergers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.3.</TD><TD><U>Elimination of Fractional Interests</U>. The Company shall not be required to issue certificates representing fractions
of shares of Common Stock upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu
of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any
fraction down to the nearest whole number of Common Stock or other securities, properties, Rights or Warrants.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD><B>Reservation and Listing.</B> The Company shall at all times reserve and keep available out of its authorized Common Stock,
solely for the purpose of issuance upon exercise of the Purchase Options or the Rights or Warrants included in the Purchase Option,
such number of shares of Common Stock or other securities, properties or rights as shall be issuable upon the conversion thereof.
The Company covenants and agrees that, upon exercise of the Purchase Options and payment of the Exercise Price therefor, all Common
Stock and other securities issuable upon such exercise (including the Common Stock included in the Rights and the Warrants) shall
be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any stockholder. As long as the
Purchase Options shall be outstanding, the Company shall use its best efforts to cause all (i) Units and Common Stock issuable
upon exercise of the Purchase Options, (ii) Rights issuable upon exercise of the Purchase Options, (iii) Warrants issuable upon
exercise of the Purchase Options, (iv) Common Stock issuable upon conversion of the Rights included in the Units issuable upon
exercise of the Purchase Options and (v) Common Stock issuable upon exercise of the Warrants included in the Units issuable upon
exercise of the Purchase Options to be listed (subject to official notice of issuance) on all securities exchanges on which the
Units, the Common Stock, the Rights or the Warrants issued to the public in connection herewith may then be listed and/or quoted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD><B>Certain Notice Requirements</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.1.</TD><TD><U>Holder&rsquo;s Right to Receive Notice</U>. Nothing herein shall be construed as conferring upon the Holders the right to
vote or consent as a stockholder for the election of directors or any other matter, or as having any rights whatsoever as a stockholder
of the Company. If, however, at any time prior to the expiration of the Purchase Options and their exercise, any of the events
described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event
at least fifteen days prior to the date fixed as a record date or the date of closing the transfer books for the determination
of the stockholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of
the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder
a copy of each notice given to the other stockholders of the Company at the same time and in the same manner that such notice is
given to the stockholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.2.</TD><TD><U>Events Requiring Notice</U>. The Company shall be required to give the notice described in this Section 8 upon one or more
of the following events: (i) if the Company shall take a record of the holders of its Common Stock for the purpose of entitling
them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company,
or (ii) the Company shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or
securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe
therefor, or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or merger)
or a sale of all or substantially all of its property, assets and business shall be proposed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.3.</TD><TD><U>Notice of Change in Exercise Price</U>. The Company shall, promptly after an event requiring a change in the Exercise Price
pursuant to Section 6 hereof, send notice to the Holders of such event and change (a &ldquo;<B><U>Price Notice</U></B>&rdquo;).
The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being
true and accurate by the Company&rsquo;s President and Chief Financial Officer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">8.4.</TD><TD><U>Transmittal of Notices</U>. All notices, requests, consents and other communications under this Purchase Option shall be
in writing and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service:
(i) if to the registered Holder of the Purchase Option, to the address of such Holder as shown on the books of the Company, or
(ii) if to the Company, to the following address or to such other address as the Company may designate by notice to the Holders:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Fax No.: (847) 952-4830</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Attn: Hassan R. Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 0.5in">Email: hbaqar@kingswayfinancial.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD><B>Miscellaneous.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.1.</TD><TD><U>Amendments</U>. The Company and EBC may from time to time supplement or amend this Purchase Option without the approval
of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective
or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder
that the Company and EBC may deem necessary or desirable and that the Company and EBC deem shall not adversely affect the interest
of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom
enforcement of the modification or amendment is sought.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.2.</TD><TD><U>Headings</U>. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way
limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.3.</TD><TD><U>Entire Agreement</U>. This Purchase Option (together with the other agreements and documents being delivered pursuant to
or in connection with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject
matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject
matter hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.4.</TD><TD><U>Binding Effect</U>. This Purchase Option shall inure solely to the benefit of, and shall be binding upon, the Holder and
the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have
or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option
or any provisions herein contained.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.5.</TD><TD><U>Governing Law</U>. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws
of another jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.6.</TD><TD><U>Waiver, Etc</U>. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase
Option shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase
Option or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this
Purchase Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall
be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such
waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver
of any other or subsequent breach or non-compliance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.7.</TD><TD><U>Execution in Counterparts</U>. This Purchase Option may be executed in one or more counterparts, and by the different parties
hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute
one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto
and delivered to each of the other parties hereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">9.8.</TD><TD><U>Exchange Agreement</U>. As a condition of the Holder&rsquo;s receipt and acceptance of this Purchase Option, Holder agrees
that, at any time prior to the complete exercise of this Purchase Option by Holder, if the Company and EBC enter into an agreement
(an &ldquo;<B><U>Exchange Agreement</U></B>&rdquo;) pursuant to which they agree that all outstanding Purchase Options will be
exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange
Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">IN WITNESS WHEREOF, the Company
has caused this Purchase Option to be signed by its duly authorized officer as of the 15th day of July, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>1347 CAPITAL CORP.</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&nbsp;</b></P></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 35%">&nbsp;</td>
    <TD STYLE="width: 11%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</td>
    <TD STYLE="font-size: 10pt"><font style="font-size: 10pt">By:</font></td>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"></td>
    <TD STYLE="border-bottom: white 3pt solid"></td></tr>
<tr>
    <TD STYLE="vertical-align: top"></td>
    <TD STYLE="vertical-align: top"></td>
    <TD NOWRAP STYLE="vertical-align: bottom; font-size: 10pt"></td>
    <TD STYLE="vertical-align: top"></td></tr>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="font-size: 10pt"><font style="font-size: 10pt">Title: President, Chief Executive Officer and Director</font></td>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"></P><BR>
</td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exercise Form - to be used to exercise Purchase Option:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fax No.: (847) 952-4830</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Hassan R. Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: hbaqar@kingswayfinancial.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date:_________________, 20___</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby
elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase ____ Units of 1347 Capital Corp.
and hereby makes payment of $____________ (at the rate of $_________ per Unit) in payment of the Exercise Price pursuant thereto.
Please issue the securities as to which this Purchase Option is exercised in accordance with the instructions given below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby
elects irrevocably to convert its right to purchase _________ Units purchasable under the within Purchase Option by surrender of
the unexercised portion of the attached Purchase Option (with a &ldquo;Value&rdquo; based of $_______ based on a &ldquo;Market
Price&rdquo; of $_______). Please issue the securities comprising the Units as to which this Purchase Option is exercised in accordance
with the instructions given below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<tr>
    <td style="width: 62%">&nbsp;</td>
    <td style="width: 38%; border-top: black 1.5pt solid; font-size: 10pt; text-align: justify"><font style="font-size: 10pt">NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement or any change whatever.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Signature(s) Guaranteed:</P>



<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INSTRUCTIONS FOR REGISTRATION OF SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<tr>
    <TD STYLE="width: 5%; padding-bottom: 1.5pt; font-size: 10pt"><font style="font-size: 10pt">Name </font></td>
    <TD STYLE="width: 95%; font-size: 10pt"><font style="font-size: 10pt">_______________________________________________________________________________________</font></td></tr>
<tr>
    <td colspan="2" style="font-size: 10pt; text-align: center"><font style="font-size: 10pt">(Print in Block Letters)</font></td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
<tr>
    <TD STYLE="font-size: 10pt"><font style="font-size: 10pt">Address</font></td>
    <TD STYLE="font-size: 10pt"><font style="font-size: 10pt">&nbsp;&nbsp;______________________________________________________________________________________</font></td></tr>
<tr>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</td>
    <TD></td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Assignment Form - to be used to assign Purchase Option:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ASSIGNMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(To be executed by the registered Holder
to effect a transfer of the within Purchase Option):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOR VALUE RECEIVED,______________________________________________
does hereby sell, assign and transfer unto___________________________________________ the right to purchase __________ Units of
1347 Capital Corp. (the &ldquo;<B><U>Company</U></B>&rdquo;) evidenced by the within Purchase Option and does hereby authorize
the Company to transfer such right on the books of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: ___________________, 20__</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<tr>
    <td style="width: 62%">&nbsp;</td>
    <td style="width: 38%; border-top: black 1.5pt solid; font-size: 10pt"><font style="font-size: 10pt">Signature</font></td></tr>
<tr>
    <td style="padding-bottom: 1.5pt">&nbsp;</td>
    <td style="border-bottom: black 1.5pt solid">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: justify"><font style="font-size: 10pt">NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement or any change whatever.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Signature(s) Guaranteed:</P>



<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>8
<FILENAME>v384170_ex10-1.htm
<DESCRIPTION>INVESTMENT MANAGEMENT TRUST AGREEMENT BETWEEN 1347 CAPITAL CORP. AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT MANAGEMENT TRUST AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Agreement is made as of July 15, 2014
by and between 1347 Capital Corp. (the &ldquo;Company&rdquo;) and Continental Stock Transfer &amp; Trust Company (&ldquo;Trustee&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company&rsquo;s registration
statement on Form S-1, No. 333-195695 (&ldquo;Registration Statement&rdquo;) for its initial public offering of securities (&ldquo;IPO&rdquo;)
has been declared effective as of the date hereof (&ldquo;Effective Date&rdquo;) by the Securities and Exchange Commission (capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, EarlyBirdCapital, Inc. (&ldquo;EBC&rdquo;)
is acting as the representative of the underwriters in the IPO; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, simultaneously with the IPO, the
Company&rsquo;s &ldquo;insiders&rdquo; (as defined in the Registration Statement) (the &ldquo;Insiders&rdquo;) will be purchasing
(i) an aggregate of 180,000 units (&ldquo;Initial Private Units&rdquo;) from the Company for an aggregate purchase price of $1,800,000
and (ii) an aggregate of 600,000 warrants (&ldquo;$15 Exercise Price Sponsor Warrants&rdquo;) for an aggregate purchase price of
$300,000; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, in the event EBC exercises its
over-allotment option in full or in part, the Insiders will purchase up to an aggregate of an additional 18,000 units (the &ldquo;Over-Allotment
Private Units&rdquo; and, together with the Initial Private Units, the &ldquo;Private Units&rdquo;) for an aggregate purchase price
of up to $180,000; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, as described in the Registration
Statement, and in accordance with the Company&rsquo;s Amended and Restated Certificate of Incorporation, $40,000,000 of the gross
proceeds of the IPO, the sale of the Private Units and the sale of the $15 Exercise Price Sponsor Warrants ($46,000,000 if the
underwriters&rsquo; over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a
trust account for the benefit of the Company and the holders of the Company&rsquo;s common stock, par value $.0001 per share (&ldquo;Common
Stock&rdquo;), issued in the IPO as hereinafter provided (the amount to be delivered to the Trustee will be referred to herein
as the &ldquo;Property,&rdquo; the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the
&ldquo;Public Stockholders,&rdquo; and the Public Stockholders and the Company will be referred to together as the &ldquo;Beneficiaries&rdquo;);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company and the Trustee desire
to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT IS AGREED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><U>Agreements and Covenants of Trustee</U>. The Trustee hereby agrees and covenants to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) Hold the Property in trust for the Beneficiaries
in accordance with the terms of this Agreement in a segregated trust account (&ldquo;Trust Account&rdquo;) established by the Trustee
at JP Morgan Chase Bank, N. A. and at a brokerage institution selected by the Trustee that is satisfactory to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) Manage, supervise and administer the Trust Account
subject to the terms and conditions set forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(c) In a timely manner, upon the instruction of the
Company, invest and reinvest the Property (i) in United States government treasury bills, notes or bonds having a maturity of 180
days or less and/or (ii) in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company
Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(d) Collect and receive, when due, all principal
and income arising from the Property, which shall become part of the &ldquo;Property,&rdquo; as such term is used herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(e) Notify the Company and EBC of all communications
received by it with respect to any Property requiring action by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(f) Supply any necessary information or documents
as may be requested by the Company in connection with the Company&rsquo;s preparation of its tax returns;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(g) Participate in any plan or proceeding for protecting
or enforcing any right or interest arising from the Property if, as and when instructed by the Company to do so;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(h) Render to the Company monthly written statements
of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(i) Commence liquidation of the Trust Account only
after and promptly after receipt of, and only in accordance with, the terms of a letter (&ldquo;Termination Letter&rdquo;), in
a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf of the Company by its Chief
Executive Officer or Chairman of the Board and Secretary or Assistant Secretary, affirmed by counsel for the Company and, in the
case of a Termination Letter in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by
EBC, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the
Termination Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter
has not been received by the Trustee by the 18-month anniversary of the closing of the IPO (&ldquo;Closing&rdquo;) or, in the event
that a letter of intent or definitive agreement for a Business Combination has been executed on or prior to the 18-month anniversary
of the Closing but the Business Combination has not been consummated by the 18-month anniversary of the Closing, the 24-month anniversary
of the Closing, (&ldquo;Last Date&rdquo;), the Trust Account shall be liquidated in accordance with the procedures set forth in
the Termination Letter attached as Exhibit B hereto and distributed to the Public Stockholders as of the Last Date. The provisions
of this Section 1(i) may not be modified, amended or deleted under any circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><U>Limited Distributions of Income from Trust Account</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) Upon written request from the Company, which
may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute
to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other
tax obligation owed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) Upon written request from the Company, which
may be given from time to time in a form substantially similar to that attached hereto as Exhibit D, the Trustee shall distribute
to the Company the amount of interest income earned on the Trust Account requested by the Company to cover expenses related to
investigating and selecting a target business and other working capital requirements; provided, however, that the Company will
not be allowed to withdraw interest income earned on the Trust Account unless there is an amount of interest income available in
the Trust Account sufficient to pay the Company&rsquo;s tax obligations on such interest income or otherwise then due at that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(c) The limited distributions referred to in Sections
2(a) and 2(b) above shall be made only from income collected on the Property. Except as provided in Section 2(a), and 2(b) above,
no other distributions from the Trust Account shall be permitted except in accordance with Section 1(i) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(d) The Company shall provide EBC with a copy of
any Termination Letters and/or any other correspondence that it issues to the Trustee with respect to any proposed withdrawal from
the Trust Account promptly after such issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><U>Agreements and Covenants of the Company</U>. The Company hereby agrees and covenants to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) Give all instructions to the Trustee hereunder
in writing, signed by the Company&rsquo;s Chairman of the Board, Vice Chairman of the Board, Chief Executive Officer, President
or Chief Financial Officer. In addition, except with respect to its duties under paragraphs 1(i), 2(a) and 2(b) above, the Trustee
shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it in
good faith believes to be given by any one of the persons authorized above to give written instructions, provided that the Company
shall promptly confirm such instructions in writing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) Subject to the provisions of Sections 5 and 7(g)
of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against, any and all expenses, including reasonable
counsel fees and disbursements, or loss suffered by the Trustee in connection with any claim, potential claim, action, suit or
other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand which in any way arises
out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from investment
of the Property, except for expenses and losses resulting from the Trustee&rsquo;s gross negligence or willful misconduct. Promptly
after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to
which the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter
referred to as the &ldquo;Indemnified Claim&rdquo;). The Trustee shall have the right to conduct and manage the defense against
such Indemnified Claim, provided, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel,
which consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified Claim without the prior written
consent of the Company, which consent shall not be unreasonably withheld. The Company may participate in such action with its own
counsel;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(c) Pay the Trustee an annual fee as set forth on
Schedule A hereto. It is expressly understood that the Property shall not be used to pay such fees and further agreed that any
fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(i)
solely in connection with the consummation of a Business Combination, or pursuant to Section 2(b). The Company shall pay the Trustee
the first year&rsquo;s annual fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(d) In connection with any vote of the Company&rsquo;s
stockholders regarding a Business Combination, provide to the Trustee an affidavit or certificate of a firm regularly engaged in
the business of soliciting proxies and/or tabulating stockholder votes verifying the vote of the Company&rsquo;s stockholders regarding
such Business Combination; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(e) In the event that the Company directs the Trustee
to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will not direct the Trustee to
make any payments that are not specifically authorized by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><U>Limitations of Liability</U>. The Trustee shall have no responsibility or liability to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) Take any action with respect to the Property,
other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability to any party except for liability arising
out of its own gross negligence or willful misconduct;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) Institute any proceeding for the collection of
any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any of the
Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company
shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(c) Change the investment of any Property, other
than in compliance with paragraph 1(c);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(d) Refund any depreciation in principal of any Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(e) Assume that the authority of any person designated
by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such designation, or unless
the Company shall have delivered a written revocation of such authority to the Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(f) The other parties hereto or to anyone else for
any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in the exercise of its
own best judgment, except for its gross negligence or willful misconduct. The Trustee may rely conclusively and shall be protected
in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee),
statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of
its provisions, but also as to the truth and acceptability of any information therein contained) which is believed by the Trustee,
in good faith, to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any
notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced
by a written instrument delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee
are affected, unless it shall give its prior written consent thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(g) Verify the correctness of the information set
forth in the Registration Statement or to confirm or assure that any acquisition made by the Company or any other action taken
by it is as contemplated by the Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(h) File local, state and/or Federal tax returns
or information returns with any taxing authority on behalf of the Trust Account and payee statements with the Company documenting
the taxes, if any, payable by the Company or the Trust Account, relating to the income earned on the Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(i) Pay any taxes on behalf of the Trust Account
(it being expressly understood that the Property shall not be used to pay any such taxes and that such taxes, if any, shall be
paid by the Company from funds not held in the Trust Account or released to it under Section 2(a) hereof);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(j) Imply obligations, perform duties, inquire or
otherwise be subject to the provisions of any agreement or document other than this agreement and that which is expressly set forth
herein; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(k) Verify calculations, qualify or otherwise approve
Company requests for distributions pursuant to Section 1(i), 2(a) or 2(b) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><U>Trust Account Waiver</U>. The Trustee has no right of set-off or any right, title, interest or claim of any kind (&ldquo;Claim&rdquo;)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against the Company and
its assets outside the Trust Account and not against the Property or any monies in the Trust Account.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><U>Termination</U>. This Agreement shall terminate as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) If the Trustee gives written notice to the Company
that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a successor trustee during
which time the Trustee shall act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor
trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee shall transfer
the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports
and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that, in the event that
the Company does not locate a successor trustee within ninety days of receipt of the resignation notice from the Trustee, the Trustee
may submit an application to have the Property deposited with any court in the State of New York or with the United States District
Court for the Southern District of New York and, upon such deposit, the Trustee shall be immune from any liability whatsoever;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) At such time that the Trustee has completed the
liquidation of the Trust Account in accordance with the provisions of paragraph 1(i) hereof, and distributed the Property in accordance
with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Paragraph 3(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD><U>Miscellaneous</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(a) The Company and the Trustee each acknowledge
that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust Account.
The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized
persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon
all information supplied to it by the Company, including account names, account numbers and all other identifying information relating
to a beneficiary, beneficiary&rsquo;s bank or intermediary bank. The Trustee shall not be liable for any loss, liability or expense
resulting from any error in the information or transmission of the wire.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(b) This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. It may be executed in several original or facsimile
counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(c) This Agreement contains the entire agreement
and understanding of the parties hereto with respect to the subject matter hereof. Except for Section 1(i) (which may not be amended
under any circumstances), this Agreement or any provision hereof may only be changed, amended or modified by a writing signed by
each of the parties hereto; provided, however, that no such change, amendment or modification may be made without the prior written
consent of EBC. As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right
to trial by jury. The Trustee may require from Company counsel an opinion as to the propriety of any proposed amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(d) The parties hereto consent to the jurisdiction
and venue of any state or federal court located in the City of New York, Borough of Manhattan, for purposes of resolving any disputes
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(e) Any notice, consent or request to be given in
connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery or by facsimile transmission:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">if to the Trustee, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Attn: Steven G. Nelson, Chairman, and Frank A. DiPaolo,
CFO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Fax No.: (212) 509-5150</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">if to the Company, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Attn: Hassan R. Baqar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Fax No.: (847) 952-4830</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">in either case with a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Attn: Mike Powell, Managing Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Fax No.: (212) 661-4936</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(f) This Agreement may not be assigned by the Trustee
without the prior consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(g) Each of the Trustee and the Company hereby represents
that it has the full right and power and has been duly authorized to enter into this Agreement and to perform its respective obligations
as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account,
including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. In the event that
the Trustee has a claim against the Company under this Agreement, the Trustee will pursue such claim solely against the Company
and not against the Property held in the Trust Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">(h) Each of the Company and the Trustee hereby acknowledge
that EBC is a third party beneficiary of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have duly
executed this Investment Management Trust Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">CONTINENTAL STOCK TRANSFER &amp; TRUST COMPANY, as Trustee</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Cynthia Jordan</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Cynthia Jordan</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: V.P., Accounting</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Investment Management
Trust Agreement between Continental Stock Transfer &amp; Trust Company and 1347 Capital Corp.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; vertical-align: top">Fee Item</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; vertical-align: top">Time and method of payment</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; vertical-align: top">Amount</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">Initial acceptance fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">As agreed.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">As agreed.</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 33%; text-align: left; vertical-align: top">Annual fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: left; vertical-align: top">First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: left; vertical-align: top">$10,000</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top">Transaction processing fee for disbursements to Company under Section 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">As agreed.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">As agreed.</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; vertical-align: top">Paying Agent services as required pursuant to section 1(i)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Billed to Company upon delivery of service pursuant to section 1(i)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">Prevailing rates</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Letterhead of Company]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>[Insert date]</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Steven Nelson and Frank DiPaolo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: <U>Trust Account No. - Termination Letter</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between 1347 Capital Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer &amp; Trust Company (&ldquo;Trustee&rdquo;),
dated as of _________ ___, 2014 (&ldquo;Trust Agreement&rdquo;), this is to advise you that the Company has entered into an agreement
(&ldquo;Business Agreement&rdquo;) with __________________ (&ldquo;Target Business&rdquo;) to consummate a business combination
with Target Business (&ldquo;Business Combination&rdquo;) on or about <B>[insert date]</B>. The Company shall notify you at least
48 hours in advance of the actual date of the consummation of the Business Combination (&ldquo;Consummation Date&rdquo;). Capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the terms of the Trust Agreement, we hereby
authorize you to liquidate the Trust Account investments on __________ and to transfer the proceeds to the above-referenced account
at JP Morgan Chase Bank to the effect that, on the Consummation Date, all of the funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct on the Consummation Date. It is acknowledged and
agreed that while the funds are on deposit in the trust account awaiting distribution, the Company will not earn any interest or
dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On the Consummation Date (i) counsel for the Company shall deliver
to you written notification that the Business Combination has been consummated and (ii) the Company shall deliver to you (a) [an
affidavit] [a certificate] of __________________, which verifies the vote of the Company&rsquo;s stockholders in connection with
the Business Combination if a vote is held and (b) joint written instructions from it and EarlyBirdCapital, Inc. with respect to
the transfer of the funds held in the Trust Account (&ldquo;Instruction Letter&rdquo;). You are hereby directed and authorized
to transfer the funds held in the Trust Account immediately upon your receipt of the counsel's letter and the Instruction Letter,
in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be
liquidated by the Consummation Date without penalty, you will notify the Company of the same, and the Company shall direct you
as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon
the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that the Business Combination is not consummated
on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation Date
of a new Consummation Date, then, upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust
Account shall be reinvested as provided in the Trust Agreement on the business day immediately following the Consummation Date
as set forth in the notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Gordon G. Pratt, President, Chief Executive Officer and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Hassan R. Baqar, Chief Financial Officer, Secretary and Director</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">AGREED TO AND</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">ACKNOWLEDGED BY</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">EARLYBIRDCAPITAL, INC.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 36%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 58%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Letterhead of Company]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>[Insert date]</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Steven Nelson and Frank DiPaolo</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: <U>Trust Account No. <B>[insert no.]___ </B>- Termination
Letter</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between 1347 Capital Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer &amp; Trust Company (&ldquo;Trustee&rdquo;),
dated as of _____________, 2014 (&ldquo;Trust Agreement&rdquo;), this is to advise you that the Company has been unable to effect
a Business Combination with a Target Company within the time frame specified in the Company&rsquo;s Amended and Restated Certificate
of Incorporation, as described in the Company&rsquo;s prospectus relating to its IPO. Capitalized terms used herein and not otherwise
defined shall have the meanings set forth in the Trust Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the terms of the Trust Agreement, we hereby
authorize you to liquidate all the Trust Account investments on ______________ and to transfer the total proceeds to the [<B>Trust
Checking Account at JP Morgan Chase Bank]</B> to await distribution to the Public Stockholders. The Company has selected ____________,
20__ as the record date for the purpose of determining the Public Stockholders entitled to receive their share of the liquidation
proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit in the
Trust Checking Account. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, to distribute
said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated
Certificate of Incorporation of the Company. Upon the distribution of all of the funds in the Trust Account, your obligations under
the Trust Agreement shall be terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Gordon G. Pratt, President, Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Hassan R. Baqar, Chief Financial Officer, Secretary and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Letterhead of Company]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>[Insert date]</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Frank Di Paolo and Cynthia Jordan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: <U>Trust Account No. <B>[insert no.]</B>____</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Di Paolo and Ms. Jordan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to paragraph 2(a) of the Investment Management Trust
Agreement between 1347 Capital Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer &amp; Trust Company (&ldquo;Trustee&rdquo;),
dated as of ____________, 2014 (&ldquo;Trust Agreement&rdquo;), the Company hereby requests that you deliver to the Company $_______
of the interest income earned on the Property as of the date hereof. The Company needs such funds to pay its income or other tax
obligations. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire
transfer) such funds promptly upon your receipt of this letter to the Company&rsquo;s operating account at:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[WIRE INSTRUCTION INFORMATION]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Gordon G. Pratt, President, Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Hassan R. Baqar, Chief Financial Officer, Secretary and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Letterhead of Company]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>[Insert date]</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Frank Di Paolo and Cynthia Jordan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: <U>Trust Account No. <B>[insert no.]</B>________</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Di Paolo and Ms. Jordan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to paragraph 2(b) of the Investment Management Trust
Agreement between 1347 Capital Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer &amp; Trust Company (&ldquo;Trustee&rdquo;),
dated as of ____________, 2014 (&ldquo;Trust Agreement&rdquo;), the Company hereby requests that you deliver to the Company $_______
of the interest income earned on the Property as of the date hereof. The Company needs such funds to cover its expenses relating
to investigating and selecting a target business and other working capital requirements. In accordance with the terms of the Trust
Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this
letter to the Company&rsquo;s operating account at:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[WIRE INSTRUCTION INFORMATION]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">1347 CAPITAL CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Gordon G. Pratt, President, Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-size: 10pt">Hassan R. Baqar, Chief Financial Officer, Secretary and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>9
<FILENAME>v384170_ex10-2.htm
<DESCRIPTION>REGISTRATION RIGHTS AGREEMENT AMONG 1347 CAPITAL CORP., 1347 INVESTORS LLC AND EARLYBIRDCAPITAL, INC.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION RIGHTS AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS REGISTRATION RIGHTS AGREEMENT (this
&ldquo;<B><U>Agreement</U></B>&rdquo;) is entered into as of July 15, 2014, by and among 1347 Capital Corp., a Delaware corporation
(the &ldquo;<B><U>Company</U></B>&rdquo;), and the undersigned parties listed under Investor on the signature page hereto (each,
an &ldquo;<B><U>Investor</U></B>&rdquo; and, collectively, the &ldquo;<B><U>Investors</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Investors currently hold all
of the outstanding shares of Common Stock of the Company issued prior to the consummation of the Company&rsquo;s initial public
offering (the &ldquo;<B><U>Initial Shares</U></B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Investors are privately purchasing
180,000 Units simultaneously with the consummation of the Company&rsquo;s initial public offering (the &ldquo;<B><U>Initial</U></B><U>
<B>Private Units</B></U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Investors will purchase up
to 18,000 additional Units (the &ldquo;<B><U>Over-Allotment Private Units</U></B>&rdquo; and, together with the Initial Private
Units, the &ldquo;<B><U>Private Units</U></B>&rdquo;) in the event the underwriters of the Company&rsquo;s initial public offering
exercise the over-allotment option in full or in part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Investors are privately purchasing
an aggregate of 600,000 warrants (the &ldquo;<B><U>$15 Exercise Price Sponsor Warrants</U></B>&rdquo;) simultaneously with the
consummation of the Company&rsquo;s initial public offering; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Investors and the Company desire
to enter into this Agreement to provide the Investors with certain rights relating to the registration of the Initial Shares, the
Private Units, the $15 Exercise Price Sponsor Warrants and the Working Capital Units (defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><U>DEFINITIONS</U>. The following capitalized terms used herein have the following meanings:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>$15 Exercise Price Sponsor Warrants</U></B>&rdquo;
is defined in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Agreement</U></B>&rdquo; means this
Agreement, as amended, restated, supplemented, or otherwise modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Business Combination</U></B>&rdquo;
means a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination
involving the Company and one or more businesses or entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Commission</U></B>&rdquo; means the
Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Common Stock</U></B>&rdquo; means the
common stock, par value $0.0001 per share, of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Company</U></B>&rdquo; is defined in
the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Demand Registration</U></B>&rdquo; is
defined in Section 2.1.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Demanding Holder</U></B>&rdquo; is defined
in Section 2.1.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Exchange Act</U></B>&rdquo; means the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the
same shall be in effect at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Form S-3</U></B>&rdquo; is defined in
Section 2.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Indemnified Party</U></B>&rdquo; is
defined in Section 4.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Indemnifying Party</U></B>&rdquo; is
defined in Section 4.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Initial Shares</U></B>&rdquo; is defined
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Initial</U></B><U> <B>Private Units</B></U>&rdquo;
is defined in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Investor</U></B>&rdquo; is defined in
the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Investor Indemnified Party</U></B>&rdquo;
is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Maximum Number of Shares</U></B>&rdquo;
is defined in Section 2.1.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Notices</U></B>&rdquo; is defined in
Section 6.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Option Securities</U></B>&rdquo; is
defined in Section 2.1.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Over-Allotment Private Units</U></B>&rdquo;
is defined in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Piggy-Back Registration</U></B>&rdquo;
is defined in Section 2.2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Private Units</U></B>&rdquo; is defined
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Register</U></B>,&rdquo; &ldquo;<B><U>Registered</U></B>&rdquo;
and &ldquo;<B><U>Registration</U></B>&rdquo; mean a registration effected by preparing and filing a registration statement or similar
document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder,
and such registration statement becoming effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Registrable Securities</U></B>&rdquo;
means (i) all of the Initial Shares, (ii) all of the Private Units (and underlying warrants and shares of Common Stock), (iii)
all of the $15 Exercise Price Sponsor Warrants (and underlying shares of Common Stock) and (iv) all of the Working Capital Units
(and underlying shares of Common Stock). Registrable Securities include any warrants, shares of capital stock or other securities
of the Company issued as a dividend or other distribution with respect to or in exchange for or in replacement of such Initial
Shares, Private Units (and underlying warrants and shares of Common Stock), $15 Exercise Price Sponsor Warrants (and underlying
shares of Common Stock) and Working Capital Units (and underlying shares of Common Stock). As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such securities
shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged
in accordance with such Registration Statement; (b) such securities shall have been otherwise transferred, new certificates for
them not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution
of them shall not require registration under the Securities Act; (c) such securities shall have ceased to be outstanding, or (d)
the Registrable Securities are freely saleable under Rule 144 without volume limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Registration Statement</U></B>&rdquo;
means a registration statement filed by the Company with the Commission in compliance with the Securities Act and the rules and
regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations exercisable
or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form S-8, or their
successors, or any registration statement covering only securities proposed to be issued in exchange for securities or assets of
another entity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Release Date</U></B>&rdquo; means the
date on which the Initial Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated as
of July 15, 2014 by and among certain of the Investors and Continental Stock Transfer &amp; Trust Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Securities Act</U></B>&rdquo; means
the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same
shall be in effect at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Underwriter</U></B>&rdquo; means a securities
dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of such dealer&rsquo;s
market-making activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Units</U></B>&rdquo; means the units
of the Company, each comprised of one share of Common Stock, one right to receive one-tenth of one share of Common Stock and one
Warrant to purchase one-half of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Warrants</U></B>&rdquo; means the warrants
of the Company underlying the Units, each to purchase one-half of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&ldquo;<B><U>Working Capital Units</U></B>&rdquo;
means any Units held by Investors, officers or directors of the Company or their affiliates which may be issued in payment of working
capital loans made to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><U>REGISTRATION RIGHTS</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.1</TD><TD><U>Demand Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1.1</TD><TD><U>Request for Registration</U>. At any time and from time to time on or after (i) the date that the Company consummates a
Business Combination with respect to the Private Units (or underlying shares of Common Stock), $15 Exercise Price Sponsor Warrants
(or underlying shares of Common Stock) and Working Capital Units (or underlying shares of Common Stock) or (ii) three months prior
to the Release Date with respect to all other Registrable Securities, the holders of a majority-in-interest of such Private Units
(or underlying shares of Common Stock), $15 Exercise Price Sponsor Warrants (or underlying shares of Common Stock) and Working
Capital Units (or underlying shares of Common Stock) or other Registrable Securities, as the case may be, held by the Investors,
officers or directors of the Company or their affiliates, or the transferees of the Investors, may make a written demand for registration
under the Securities Act of all or part of their Private Units (or underlying shares of Common Stock), $15 Exercise Price Sponsor
Warrants (or underlying shares of Common Stock), Working Capital Units (or underlying shares of Common Stock) or other Registrable
Securities, as the case may be (a &ldquo;<B><U>Demand Registration</U></B>&rdquo;). Any demand for a Demand Registration shall
specify the number of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof.
The Company will notify all holders of Registrable Securities of the demand, and each holder of Registrable Securities who wishes
to include all or a portion of such holder&rsquo;s Registrable Securities in the Demand Registration (each such holder including
shares of Registrable Securities in such registration, a &ldquo;<B><U>Demanding Holder</U></B>&rdquo;) shall so notify the Company
within fifteen (15) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders
shall be entitled to have their Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos
set forth in Section 3.1.1. The Company shall not be obligated to effect more than an aggregate of two (2) Demand Registrations
under this Section 2.1.1 in respect of all Registrable Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1.2</TD><TD><U>Effective Registration</U>. A registration will not count as a Demand Registration until the Registration Statement filed
with the Commission with respect to such Demand Registration has been declared effective and the Company has complied with all
of its obligations under this Agreement with respect thereto; provided, however, that if, after such Registration Statement has
been declared effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop
order or injunction of the Commission or any other governmental agency or court, the Registration Statement with respect to such
Demand Registration will be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is
removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter elect to continue
the offering; provided, further, that the Company shall not be obligated to file a second Registration Statement until a Registration
Statement that has been filed is counted as a Demand Registration or is terminated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1.3</TD><TD><U>Underwritten Offering</U>. If a majority-in-interest of the Demanding Holders so elect and such holders so advise the Company
as part of their written demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand
Registration shall be in the form of an underwritten offering. In such event, the right of any holder to include its Registrable
Securities in such registration shall be conditioned upon such holder&rsquo;s participation in such underwriting and the inclusion
of such holder&rsquo;s Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders proposing
to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form
with the Underwriter or Underwriters selected for such underwriting by a majority-in-interest of the holders initiating the Demand
Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1.4</TD><TD><U>Reduction of Offering</U>. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten
offering advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock, if any, as to which registration has been requested pursuant to written
contractual piggy-back registration rights held by other stockholders of the Company who desire to sell, exceeds the maximum dollar
amount or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering price, the
timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of
shares, as applicable, the &ldquo;<B><U>Maximum Number of Shares</U></B>&rdquo;), then the Company shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in
accordance with the number of shares that each such Person has requested be included in such registration, regardless of the number
of shares held by each such Person (such proportion is referred to herein as &ldquo;<B><U>Pro Rata</U></B>&rdquo;)) that can be
sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clause (i), the shares of Common Stock or other securities that the Company desires to sell that can
be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been
reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other securities registrable pursuant to the terms
of the Unit Purchase Option issued to EarlyBirdCapital, Inc. or its designees in connection with the Company&rsquo;s initial public
offering (the &ldquo;<B><U>Unit Purchase Option</U></B>&rdquo; and such registrable securities, the &ldquo;<B><U>Option Securities</U></B>&rdquo;)
as to which &ldquo;piggy-back&rdquo; registration has been requested by the holders thereof, Pro Rata, that can be sold without
exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares have not been reached
under the foregoing clauses (i), (ii), and (iii), the shares of Common Stock or other securities for the account of other persons
that the Company is obligated to register pursuant to written contractual arrangements with such persons and that can be sold without
exceeding the Maximum Number of Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.1.5</TD><TD><U>Withdrawal</U>. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not
entitled to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may
elect to withdraw from such offering by giving written notice to the Company and the Underwriter or Underwriters of their request
to withdraw prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Demand Registration.
If the majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then
such registration shall not count as a Demand Registration provided for in Section 2.1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.2</TD><TD><U>Piggy-Back Registration</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.2.1</TD><TD><U>Piggy-Back Rights</U>. If at any time on or after the date the Company consummates a Business Combination the Company proposes
to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for
shareholders of the Company for their account (or by the Company and by shareholders of the Company including, without limitation,
pursuant to Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) for an exchange offer or offering of securities solely to the Company&rsquo;s existing shareholders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
(x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable but in no event
less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters,
if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity to register the
sale of such number of shares of Registrable Securities as such holders may request in writing within five (5) days following receipt
of such notice (a &ldquo;<B><U>Piggy-Back Registration</U></B>&rdquo;). The Company shall cause such Registrable Securities to
be included in such registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms
and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute
their securities through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting
agreement in customary form with the Underwriter or Underwriters selected for such Piggy-Back Registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.2.2</TD><TD><U>Reduction of Offering</U>. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of shares of
Common Stock which the Company desires to sell, taken together with the shares of Common Stock, if any, as to which registration
has been demanded pursuant to written contractual arrangements with persons other than the holders of Registrable Securities hereunder,
the Registrable Securities as to which registration has been requested under this Section 2.2, and the shares of Common Stock,
if any, as to which registration has been requested pursuant to the written contractual piggy-back registration rights of other
shareholders of the Company, exceeds the Maximum Number of Shares, then the Company shall include in any such registration:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">a)&#9;If the registration is undertaken for the Company&rsquo;s
account: (A) first, the shares of Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Stock or other securities, if any, comprised of Registrable Securities and Option Securities,
as to which registration has been requested pursuant to the applicable written contractual piggy-back registration rights of such
security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (C) third, to the extent that
the Maximum Number of shares has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other
securities for the account of other persons that the Company is obligated to register pursuant to written contractual piggy-back
registration rights with such persons and that can be sold without exceeding the Maximum Number of Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">b)&#9;If the registration is a &ldquo;demand&rdquo;
registration undertaken at the demand of holders of Option Securities, (A) first, the shares of Common Stock or other securities
for the account of the demanding persons, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (B) second,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the shares of Common Stock
or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (C) third,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Registrable
Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof, that can be sold without exceeding
the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A), (B) and (C), the shares of Common Stock or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number
of Shares; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">c)&#9;If the registration is a &ldquo;demand&rdquo;
registration undertaken at the demand of persons other than either the holders of Registrable Securities or of Option Securities,
(A) first, the shares of Common Stock or other securities for the account of the demanding persons that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), collectively the shares of Common Stock or other securities comprised of Registrable Securities and Option
Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof and of the Unit Purchase Option,
as applicable, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such
persons, that can be sold without exceeding the Maximum Number of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.2.3</TD><TD><U>Withdrawal</U>. Any holder of Registrable Securities may elect to withdraw such holder&rsquo;s request for inclusion of
Registrable Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior
to the effectiveness of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal
by persons making a demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior
to the effectiveness of such Registration Statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred
by the holders of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 3.3.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.2.4</TD><TD><U>Registrations on Form S-3</U>. The holders of Registrable Securities may at any time and from time to time, request in writing
that the Company register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration
which may be available at such time (&ldquo;<B><U>Form S-3</U></B>&rdquo;); provided, however, that the Company shall not be obligated
to effect such request through an underwritten offering. Upon receipt of such written request, the Company will promptly give written
notice of the proposed registration to all other holders of Registrable Securities, and, as soon as practicable thereafter, effect
the registration of all or such portion of such holder&rsquo;s or holders&rsquo; Registrable Securities as are specified in such
request, together with all or such portion of the Registrable Securities or other securities of the Company, if any, of any other
holder or holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of
such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration
pursuant to this Section 2.3: (i) if Form S-3 is not available for such offering; or (ii) if the holders of the Registrable Securities,
together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at any aggregate price to the public of less than $500,000. Registrations effected
pursuant to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><U>REGISTRATION PROCEDURES</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.1</TD><TD><U>Filings; Information</U>. Whenever the Company is required to effect the registration of any Registrable Securities pursuant
to Section 2, the Company shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance
with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.1</TD><TD><U>Filing Registration Statement</U>. The Company shall use its best efforts to, as expeditiously as possible after receipt
of a request for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on
any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available
for the sale of all Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution
thereof, and shall use its best efforts to cause such Registration Statement to become effective and use its best efforts to keep
it effective for the period required by Section 3.1.3; provided, however, that the Company shall have the right to defer any Demand
Registration for up to thirty (30) days, and any Piggy-Back Registration for such period as may be applicable to deferment of any
demand registration to which such Piggy-Back Registration relates, in each case if the Company shall furnish to the holders a certificate
signed by the President or Chairman of the Company stating that, in the good faith judgment of the Board of Directors of the Company,
it would be materially detrimental to the Company and its shareholders for such Registration Statement to be effected at such time;
provided further, however, that the Company shall not have the right to exercise the right set forth in the immediately preceding
proviso more than once in any 365-day period in respect of a Demand Registration hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.2</TD><TD><U>Copies</U>. The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto,
furnish without charge to the holders of Registrable Securities included in such registration, and such holders&rsquo; legal counsel,
copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in
each case including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration
Statement (including each preliminary prospectus), and such other documents as the holders of Registrable Securities included in
such registration or legal counsel for any such holders may request in order to facilitate the disposition of the Registrable Securities
owned by such holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.3</TD><TD><U>Amendments and Supplements</U>. The Company shall prepare and file with the Commission such amendments, including post-effective
amendments, and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary
to keep such Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable
Securities and other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s)
of distribution set forth in such Registration Statement or such securities have been withdrawn or until such time as the Registrable
Securities cease to be Registrable Securities as defined by the Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.4</TD><TD><U>Notification</U>. After the filing of a Registration Statement, the Company shall promptly, and in no event more than two
(2) business days after such filing, notify the holders of Registrable Securities included in such Registration Statement of such
filing, and shall further notify such holders promptly and confirm such advice in writing in all events within two (2) business
days of the occurrence of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective
amendment to such Registration Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any
stop order (and the Company shall take all actions required to prevent the entry of such stop order or to remove it if entered);
and (iv) any request by the Commission for any amendment or supplement to such Registration Statement or any prospectus relating
thereto or for additional information or of the occurrence of an event requiring the preparation of a supplement or amendment to
such prospectus so that, as thereafter delivered to the purchasers of the securities covered by such Registration Statement, such
prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein not misleading, and promptly make available to the holders of Registrable Securities
included in such Registration Statement any such supplement or amendment; except that before filing with the Commission a Registration
Statement or prospectus or any amendment or supplement thereto, including documents incorporated by reference, the Company shall
furnish to the holders of Registrable Securities included in such Registration Statement and to the legal counsel for any such
holders, copies of all such documents proposed to be filed sufficiently in advance of filing to provide such holders and legal
counsel with a reasonable opportunity to review such documents and comment thereon, and the Company shall not file any Registration
Statement or prospectus or amendment or supplement thereto, including documents incorporated by reference, to which such holders
or their legal counsel shall object.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.5</TD><TD><U>State Securities Laws Compliance</U>. The Company shall use its best efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or &ldquo;blue sky&rdquo; laws of such jurisdictions in
the United States as the holders of Registrable Securities included in such Registration Statement (in light of their intended
plan of distribution) may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration
Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business
and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable the holders
of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities
in such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction
where it would not otherwise be required to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.6</TD><TD><U>Agreements for Disposition</U>. The Company shall enter into customary agreements (including, if applicable, an underwriting
agreement in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition
of such Registrable Securities. The representations, warranties and covenants of the Company in any underwriting agreement which
are made to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the
holders of Registrable Securities included in such registration statement. No holder of Registrable Securities included in such
registration statement shall be required to make any representations or warranties in the underwriting agreement except, if applicable,
with respect to such holder&rsquo;s organization, good standing, authority, title to Registrable Securities, lack of conflict of
such sale with such holder&rsquo;s material agreements and organizational documents, and with respect to written information relating
to such holder that such holder has furnished in writing expressly for inclusion in such Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.7</TD><TD><U>Cooperation</U>. The principal executive officer of the Company, the principal financial officer of the Company, the principal
accounting officer of the Company and all other officers and members of the management of the Company shall cooperate fully in
any offering of Registrable Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration
Statement with respect to such offering and all other offering materials and related documents, and participation in meetings with
Underwriters, attorneys, accountants and potential investors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.8</TD><TD><U>Records</U>. The Company shall make available for inspection by the holders of Registrable Securities included in such Registration
Statement, any Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant
or other professional retained by any holder of Registrable Securities included in such Registration Statement or any Underwriter,
all financial and other records, pertinent corporate documents and properties of the Company, as shall be necessary to enable them
to exercise their due diligence responsibility, and cause the Company&rsquo;s officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.9</TD><TD><U>Opinions and Comfort Letters</U>. The Company shall furnish to each holder of Registrable Securities included in any Registration
Statement a signed counterpart, addressed to such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter
and (ii) any comfort letter from the Company&rsquo;s independent public accountants delivered to any Underwriter. In the event
no legal opinion is delivered to any Underwriter, the Company shall furnish to each holder of Registrable Securities included in
such Registration Statement, at any time that such holder elects to use a prospectus, an opinion of counsel to the Company to the
effect that the Registration Statement containing such prospectus has been declared effective and that no stop order is in effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.10</TD><TD><U>Earnings Statement</U>. The Company shall comply with all applicable rules and regulations of the Commission and the Securities
Act, and make available to its shareholders, as soon as practicable, an earnings statement covering a period of twelve (12) months,
which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.11</TD><TD><U>Listing</U>. The Company shall use its best efforts to cause all Registrable Securities included in any registration to
be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company
are then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the
holders of a majority of the Registrable Securities included in such registration.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1.12</TD><TD><U>Road Show</U>. If the registration involves the registration of Registrable Securities involving gross proceeds in excess
of $10,000,000, the Company shall use its reasonable efforts to make available senior executives of the Company to participate
in customary &ldquo;road show&rdquo; presentations that may be reasonably requested by the Underwriter in any underwritten offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.2</TD><TD><U>Obligation to Suspend Distribution</U>. Upon receipt of any notice from the Company of the happening of any event of the
kind described in Section 3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon
any suspension by the Company, pursuant to a written insider trading compliance program adopted by the Company&rsquo;s Board of
Directors, of the ability of all &ldquo;insiders&rdquo; covered by such program to transact in the Company&rsquo;s securities because
of the existence of material non-public information, each holder of Registrable Securities included in any registration shall immediately
discontinue disposition of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such holder receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction on the ability
of &ldquo;insiders&rdquo; to transact in the Company&rsquo;s securities is removed, as applicable, and, if so directed by the Company,
each such holder will deliver to the Company all copies, other than permanent file copies then in such holder&rsquo;s possession,
of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.3</TD><TD><U>Registration Expenses</U>. The Company shall bear all costs and expenses incurred in connection with any Demand Registration
pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant
to Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or
not the Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees; (ii) fees
and expenses of compliance with securities or &ldquo;blue sky&rdquo; laws (including fees and disbursements of counsel in connection
with blue sky qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Company&rsquo;s internal expenses
(including, without limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in
connection with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory Authority
fees; (vii) fees and disbursements of counsel for the Company and fees and expenses for independent certified public accountants
retained by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters requested
pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts retained by the Company in connection with such
registration and (ix) the fees and expenses of one legal counsel selected by the holders of a majority-in-interest of the Registrable
Securities included in such registration. The Company shall have no obligation to pay any underwriting discounts or selling commissions
attributable to the Registrable Securities being sold by the holders thereof, which underwriting discounts or selling commissions
shall be borne by such holders. Additionally, in an underwritten offering, all selling shareholders and the Company shall bear
the expenses of the Underwriter pro rata in proportion to the respective amount of shares each is selling in such offering.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.4</TD><TD><U>Information</U>. The holders of Registrable Securities shall provide such information as may reasonably be requested by
the Company, or the managing Underwriter, if any, in connection with the preparation of any Registration Statement, including amendments
and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities Act pursuant to
Section 2 and in connection with the Company&rsquo;s obligation to comply with Federal and applicable state securities laws.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><U>INDEMNIFICATION AND CONTRIBUTION</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.1</TD><TD><U>Indemnification by the Company</U>. The Company agrees to indemnify and hold harmless each Investor and each other holder
of Registrable Securities, and each of their respective officers, employees, affiliates, directors, partners, members, attorneys
and agents, and each person, if any, who controls an Investor and each other holder of Registrable Securities (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an &ldquo;<B><U>Investor Indemnified Party</U></B>&rdquo;),
from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based
upon any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which
the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising
out of or based upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary to
make the statements therein not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated
thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration;
and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred
by such Investor Indemnified Party in connection with investigating and defending any such expense, loss, judgment, claim, damage,
liability or action; provided, however, that the Company will not be liable in any such case to the extent that any such expense,
loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly untrue statement or omission
or alleged omission made in such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any
such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by such
selling holder expressly for use therein. The Company also shall indemnify any Underwriter of the Registrable Securities, their
officers, affiliates, directors, partners, members and agents and each person who controls such Underwriter on substantially the
same basis as that of the indemnification provided above in this Section 4.1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.2</TD><TD><U>Indemnification by Holders of Registrable Securities</U>. Each selling holder of Registrable Securities will, in the event
that any registration is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held
by such selling holder, indemnify and hold harmless the Company, each of its directors and officers and each Underwriter (if any),
and each other selling holder and each other person, if any, who controls another selling holder or such Underwriter within the
meaning of the Securities Act, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar
as such losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue
statement or allegedly untrue statement of a material fact contained in any Registration Statement under which the sale of such
Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus
contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based
upon any omission or the alleged omission to state a material fact required to be stated therein or necessary to make the statement
therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in
writing to the Company by such selling holder expressly for use therein, and shall reimburse the Company, its directors and officers,
and each other selling holder or controlling person for any legal or other expenses reasonably incurred by any of them in connection
with investigation or defending any such loss, claim, damage, liability or action. Each selling holder&rsquo;s indemnification
obligations hereunder shall be several and not joint and shall be limited to the amount of any net proceeds actually received by
such selling holder.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.3</TD><TD><U>Conduct of Indemnification Proceedings</U>. Promptly after receipt by any person of any notice of any loss, claim, damage
or liability or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the &ldquo;Indemnified
Party&rdquo;) shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify
such other person (the &ldquo;<B><U>Indemnifying Party</U></B>&rdquo;) in writing of the loss, claim, judgment, damage, liability
or action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the
Indemnifying Party from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and solely
to the extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification
with respect to any claim or action brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate
in such claim or action, and, to the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the
defense thereof with counsel satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified
Party of its election to assume control of the defense of such claim or action, the Indemnifying Party shall not be liable to the
Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation; provided, however, that in any action in which both the Indemnified Party
and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate counsel (but
no more than one such separate counsel) to represent the Indemnified Party and its controlling persons who may be subject to liability
arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, with
the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel of such
Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry
of judgment or effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party
is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or
settlement includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.4</TD><TD><U>Contribution</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.4.1</TD><TD>If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim,
damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the
Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability or action,
as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by such Indemnified Party or such Indemnifying
Party and the parties&rsquo; relative intent, knowledge, access to information and opportunity to correct or prevent such statement
or omission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.4.2</TD><TD>The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined
by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred
to in the immediately preceding Section 4.4.1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.4.3</TD><TD>The amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to
in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding
the provisions of this Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of
the dollar amount of the net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually received
by such holder from the sale of Registrable Securities which gave rise to such contribution obligation. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><U>UNDERWRITING AND DISTRIBUTION</U>.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.1</TD><TD><U>Rule 144</U>. The Company covenants that it shall file any reports required to be filed by it under the Securities Act and
the Exchange Act and shall take such further action as the holders of Registrable Securities may reasonably request, all to the
extent required from time to time to enable such holders to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><U>MISCELLANEOUS</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.1</TD><TD><U>Other Registration Rights</U>. The Company represents and warrants that no person, other than the holders of the Registrable
Securities and Option Securities, has any right to require the Company to register any shares of the Company&rsquo;s capital stock
for sale or to include shares of the Company&rsquo;s capital stock in any registration filed by the Company for the sale of shares
of capital stock for its own account or for the account of any other person.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.2</TD><TD><U>Assignment; No Third Party Beneficiaries</U>. This Agreement and the rights, duties and obligations of the Company hereunder
may not be assigned or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the
holders of Registrable Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities in conjunction
with and to the extent of any transfer of Registrable Securities by any such holder. This Agreement and the provisions hereof shall
be binding upon and shall inure to the benefit of each of the parties, to the permitted assigns of the Investors or holder of Registrable
Securities or of any assignee of the Investors or holder of Registrable Securities. This Agreement is not intended to confer any
rights or benefits on any persons that are not party hereto other than as expressly set forth in Article 4 and this Section 6.2.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.3</TD><TD><U>Notices</U>. All notices, demands, requests, consents, approvals or other communications (collectively, &ldquo;<B><U>Notices</U></B>&rdquo;)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be
personally served, delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram,
telex or facsimile, addressed as set forth below, or to such other address as such party shall have specified most recently by
written notice. Notice shall be deemed given on the date of service or transmission if personally served or transmitted by telegram,
telex or facsimile; provided, that if such service or transmission is not on a business day or is after normal business hours,
then such notice shall be deemed given on the next business day. Notice otherwise sent as provided herein shall be deemed given
on the next business day following timely delivery of such notice to a reputable air courier service with an order for next-day
delivery.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">To the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Hassan R. Baqar, Chief Financial Officer
and Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">with a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">McDermott Will &amp; Emery LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">340 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New York, NY 10173</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attn: Joel L. Rubinstein, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To an Investor, to the address set forth
below such Investor&rsquo;s name on Exhibit A hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.4</TD><TD><U>Severability</U>. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid and
enforceable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.5</TD><TD><U>Counterparts</U>. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and
all of which taken together shall constitute one and the same instrument.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.6</TD><TD><U>Entire Agreement</U>. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments
delivered pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof
and supersede all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the
parties, whether oral or written.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.7</TD><TD><U>Modifications and Amendments</U>. No amendment, modification or termination of this Agreement shall be binding upon any
party unless executed in writing by such party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.8</TD><TD><U>Titles and Headings</U>. Titles and headings of sections of this Agreement are for convenience only and shall not affect
the construction of any provision of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.9</TD><TD><U>Waivers and Extensions</U>. Any party to this Agreement may waive any right, breach or default which such party has the
right to waive, provided that such waiver will not be effective against the waiving party unless it is in writing, is signed by
such party, and specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the
breach or default waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein
contained shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein
contained. No waiver or extension of time for performance of any obligations or acts shall be deemed a waiver or extension of the
time for performance of any other obligations or acts.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.10</TD><TD><U>Remedies Cumulative</U>. In the event that the Company fails to observe or perform any covenant or agreement to be observed
or performed under this Agreement, the Investor or any other holder of Registrable Securities may proceed to protect and enforce
its rights by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for
an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce
any other legal or equitable right, or to take any one or more of such actions, without being required to post a bond. None of
the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement or now or hereafter
available at law, in equity, by statute or otherwise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.11</TD><TD><U>Governing Law</U>. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal
laws of the State of New York applicable to agreements made and to be performed within the State of New York, without giving effect
to any choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.12</TD><TD><U>Waiver of Trial by Jury</U>. Each party hereby irrevocably and unconditionally waives the right to a trial by jury in any
action, suit, counterclaim or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or
relating to this Agreement, the transactions contemplated hereby, or the actions of the Investor in the negotiation, administration,
performance or enforcement hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have caused
this Registration Rights Agreement to be executed and delivered by their duly authorized representatives as of the date first written
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">COMPANY:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 CAPITAL CORP.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">INVESTORS:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; text-transform: uppercase">1347 Investors LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Hassan R. Baqar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Hassan R. Baqar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">EARLYBIRDCAPITAL, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Steven Levine</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Steven Levine</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Registration Rights Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Name</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Address</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">1347 Investors LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">150 Pierce Road, 6th Floor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Itasca, IL 60143</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">EarlyBirdCapital, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">275 Madison Avenue, 27th Floor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">New York, New York 10016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attn: Mike Powell, Managing Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3(A)
<SEQUENCE>10
<FILENAME>v384170_ex10-3a.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN 1347 INVESTORS LLC AND 1347 CAPITAL CORP.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 78%; text-decoration: underline; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>Initial Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as the Sponsor of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned&rsquo;s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA Questionnaire and Regulation
D Compliance Certification previously furnished to the Company and the Representative are true and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as the Sponsor of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1347 INVESTORS LLC</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Hassan R. Baqar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Hassan R. Baqar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.3(B)
<SEQUENCE>11
<FILENAME>v384170_ex10-3b.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN KINGSWAY FINANCIAL SERVICES INC. AND 1347 CAPITAL CORP.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(b)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(c) In the event of the liquidation
of the Trust Account, Kingsway Financial Services Inc. (&ldquo;Kingsway&rdquo;) and Fund Management Group LLC (&ldquo;FMG&rdquo;)
jointly and severally agree to indemnify and hold harmless 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 by any vendor for services rendered or products sold to the Company, or by any target business with which
the Company has discussed entering into an agreement for a Business Combination, but only to the extent necessary to ensure that
such loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Account to below $10.00 per IPO
Share; <U>provided</U> that such indemnity shall not apply if such vendor or prospective target business has executed an agreement
waiving any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account and to any
claims under the Company&rsquo;s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under
the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he, she or it will not seek conversion with respect to, or otherwise sell, such shares
in connection with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are
insufficient to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation
and agrees not to seek repayment for such expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>KINGSWAY FINANCIAL SERVICES INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Larry G. Swets, Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Larry G. Swets, Jr.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: President and Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

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<DOCUMENT>
<TYPE>EX-10.3(C)
<SEQUENCE>12
<FILENAME>v384170_ex10-3c.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN FUND MANAGEMENT GROUP LLC AND 1347 CAPITAL CORP.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 78%; text-decoration: underline; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>Initial Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">(c) In the event of the liquidation
of the Trust Account, Kingsway Financial Services Inc. (&ldquo;Kingsway&rdquo;) and Fund Management Group LLC (&ldquo;FMG&rdquo;)
jointly and severally agree to indemnify and hold harmless 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 by any vendor for services rendered or products sold to the Company, or by any target business with which
the Company has discussed entering into an agreement for a Business Combination, but only to the extent necessary to ensure that
such loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Account to below $10.00 per IPO
Share; provided that such indemnity shall not apply if such vendor or prospective target business has executed an agreement waiving
any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account and to any claims
under the Company&rsquo;s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the
Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; provided that the Company shall be
allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">8.</TD><TD STYLE="text-align: justify">The undersigned has full right and power, without violating any agreement by which he, she or it
is bound, to enter into this letter agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">9.</TD><TD STYLE="text-align: left">The undersigned hereby waives his, her or its right to exercise conversion rights with respect
to any shares of Common Stock owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned
prior to the IPO, in the IPO or in the aftermarket, and agrees that he, she or it will not seek conversion with respect to, or
otherwise sell, such shares in connection with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><FONT STYLE="font-size: 10pt">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">10.</TD><TD STYLE="text-align: left">The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth
of the Company&rsquo;s Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s
obligation to redeem 100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period,
unless the Company provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned
on the funds held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number
of then outstanding IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">11.</TD><TD STYLE="text-align: left">In the event that the Company does not consummate a Business Combination and must liquidate and
its remaining net assets are insufficient to complete such liquidation, the undersigned agrees to advance such funds necessary
to complete such liquidation and agrees not to seek repayment for such expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">12.</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0; text-align: left">This letter agreement shall be governed by and construed and enforced in accordance with the laws of the
State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising
out of or relating in any way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced
in the courts of the State of New York of the United States of America for the Southern District of New York, and irrevocably submits
to such jurisdiction, which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that
such courts represent an inconvenient forum.</P>


</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">13.</TD><TD STYLE="text-align: left">As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in
Rule 405 under the Securities Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger,
share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with
one or more businesses or entities; (iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders
of the Company immediately prior to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common
Stock of the Company acquired by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares
of Common Stock issued in the Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased
in the private placement taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units
that will be purchased in a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option
for the Company&rsquo;s IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company
by the Insiders; (vii) &ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by
the Company with respect to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which
a portion of the net proceeds of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">14.</TD><TD STYLE="text-align: left">Any notice, consent or request to be given in connection with any of the terms or provisions of
this letter agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail
(return receipt requested), by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in">15.</TD><TD STYLE="text-align: left">No party hereto may assign either this letter agreement or any of its rights, interests, or obligations
hereunder without the prior written consent of the other party. Any purported assignment in violation of this paragraph shall be
void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement
shall be binding on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: left; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in; text-align: left">16.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The</FONT> <FONT STYLE="font-size: 10pt">undersigned
                                                                             acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
                                                                             warranties set forth herein in proceeding with the IPO.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="vertical-align: baseline"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FUND MANAGEMENT GROUP LLC</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P></TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Member</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<DOCUMENT>
<TYPE>EX-10.3(D)
<SEQUENCE>13
<FILENAME>v384170_ex10-3d.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN GORDON G. PRATT AND 1347 CAPITAL CORP.
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(d)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as President, Chief Executive Officer and Director of the Company
until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s
biographical information previously furnished to the Company and the Representative is true and accurate in all material respects,
does not omit any material information with respect to the undersigned&rsquo;s biography and contains all of the information required
to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA
Questionnaire and Regulation D Compliance Certification previously furnished to the Company and the Representative are true and
accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as President, Chief Executive Officer and Director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Gordon G. Pratt</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 54%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TYPE>EX-10.3(E)
<SEQUENCE>14
<FILENAME>v384170_ex10-3e.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN HASSAN R. BAQAR AND 1347 CAPITAL CORP.
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(e)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as Chief Financial Officer, Secretary and Director of the Company
until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s
biographical information previously furnished to the Company and the Representative is true and accurate in all material respects,
does not omit any material information with respect to the undersigned&rsquo;s biography and contains all of the information required
to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA
Questionnaire and Regulation D Compliance Certification previously furnished to the Company and the Representative are true and
accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as Chief Financial Officer, Secretary and Director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Hassan R. Baqar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Hassan R. Baqar</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TYPE>EX-10.3(F)
<SEQUENCE>15
<FILENAME>v384170_ex10-3f.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN LARRY G. SWETS, JR. AND 1347 CAPITAL CORP.
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(f)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">In order to minimize potential conflicts of interest which may arise from multiple affiliations,
the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of (i) the consummation by the Company of a Business Combination
and (ii) 24 months from the date of the prospectus for the IPO, subject to any pre-existing fiduciary and contractual obligations
the undersigned might have to another entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as a director of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned&rsquo;s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA Questionnaire and Regulation
D Compliance Certification previously furnished to the Company and the Representative are true and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Larry G. Swets, Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Larry G. Swets, Jr.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 54%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TYPE>EX-10.3(G)
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<FILENAME>v384170_ex10-3g.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN JOHN T. FITZGERALD AND 1347 CAPITAL CORP.
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(g)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 78%; text-decoration: underline; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>Initial Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders
of a Business Combination, the undersigned will vote all shares of Common Stock beneficially owned by him, her or it, whether
acquired before, in or after the IPO, in favor of such Business Combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate
a Business Combination within 18 months from the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered
into a letter of intent or definitive agreement with a target business for a Business Combination within 18 months from the closing
but such Business Combination has not yet been consummated within such 18-month period), the undersigned shall take all reasonable
steps to (i) cause the Company to cease all operations except for the purpose of winding up, (ii) as promptly as possible, but
no more than ten business days after the expiration of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion
of the funds held in the Trust Account and (iii) as promptly as reasonably possible following such redemption, subject to the
approval of the Company&rsquo;s remaining holders of Common Stock and the Board of Directors, cause the Company to dissolve and
liquidate, subject (in the case of (ii) and (iii) above) to the Company&rsquo;s obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: justify">(b) The undersigned hereby waives (i) any and all right, title, interest or claim of any kind
                                                                             in or to any funds in the Trust Account with respect to his, her or its Insider Shares and shares of Common Stock included in
                                                                             the Private Units if the Company fails to consummate a Business Combination within the requisite time period or (ii) their
                                                                             conversion rights with respect to shares of Common Stock held by him her or it in connection with the completion of a
                                                                             Business Combination. The undersigned acknowledges and agrees that there will be no distribution from the Trust Account with
                                                                             respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
                                                                             liquidation.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider
Shares pursuant to the terms of a Stock Escrow Agreement which the Company will enter into with the undersigned and an escrow
agent acceptable to the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to
entering into a Business Combination with a target business that is affiliated with any Insiders of the Company or their Affiliates,
such transaction must be approved by a majority of the Company&rsquo;s disinterested independent directors and the Company must
obtain an opinion from an independent investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated
stockholders from a financial point of view.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate
family of the undersigned, nor any Affiliate of the undersigned will be entitled to receive and will not accept any fees, reimbursements
or other cash payments prior to, or for services rendered in order to effectuate, the consummation of the Business Combination;
<U>provided</U> that the Company shall be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing
loan in an aggregate amount of $125,000 made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000
per month to 1347 Capital LLC for office space and related services, subject to adjustment as described in the Registration Statement,
(iii) to repay working capital loans made to the Company upon consummation of a Business Combination or, at the discretion of
the lender, with respect to up to an aggregate of $500,000 of working capital loans from all lenders, by converting such loans
into Private Units at a price of $10.00 per unit, as more fully described in the Registration Statement, and (iv) reimburse the
undersigned and any Affiliate of the undersigned for their out-of-pocket expenses incurred in connection with identifying, investigating
and consummating a Business Combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate
family of the undersigned, nor any Affiliate of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or
any other compensation in the event the undersigned, any member of the immediate family of the undersigned or any Affiliate of
the undersigned originates a Business Combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as a director of the
Company until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The
undersigned&rsquo;s biographical information previously furnished to the Company and the Representative is true and accurate in
all material respects, does not omit any material information with respect to the undersigned&rsquo;s biography and contains all
of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933.
The undersigned&rsquo;s FINRA Questionnaire and Regulation D Compliance Certification previously furnished to the Company and
the Representative are true and accurate in all material respects.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD STYLE="text-align: justify">The undersigned has full right and power, without violating
any agreement by which he, she or it is bound, to enter into this letter agreement and to serve as a director of the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">9.</TD><TD STYLE="text-align: justify">The undersigned hereby waives his, her or its right to
exercise conversion rights with respect to any shares of Common Stock owned or to be owned by the undersigned, directly or indirectly,
whether purchased by the undersigned prior to the IPO, in the IPO or in the aftermarket, and agrees that he will not seek conversion
with respect to, or otherwise sell, such shares in connection with any vote to approve a Business Combination with respect thereto.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">10.</TD><TD STYLE="text-align: justify">The undersigned hereby agrees to not propose, or vote
in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended and Restated Certificate of Incorporation that would
affect the substance or timing of the Company&rsquo;s obligation to redeem 100% of the IPO Shares if the Company does not complete
a Business Combination within the requisite time period, unless the Company provides its public stockholders with the opportunity
to redeem their IPO Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held therein and not previously released to the Company
to pay its franchise and income taxes, divided by the number of then outstanding IPO Shares.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">11.</TD><TD STYLE="text-align: justify">This letter agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. The undersigned hereby (i) agrees that any action,
proceeding or claim against him, her or it arising out of or relating in any way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;)
shall be brought and enforced in the courts of the State of New York of the United States of America for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive, and (ii) waives any objection
to such exclusive jurisdiction and that such courts represent an inconvenient forum.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">12.</TD><TD STYLE="text-align: justify">As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo;
shall have the meaning given to such term in Rule 405 under the Securities Act of 1933, as amended, (ii) a &ldquo;<B><I>Business
Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses or entities; (iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall
mean all officers, directors and stockholders of the Company immediately prior to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo;
shall mean all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo;
shall mean the shares of Common Stock issued in the Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall
mean (x) the Units purchased in the private placement taking place simultaneously with the consummation of the Company&rsquo;s
IPO, (y) the additional Units that will be purchased in a private placement upon the full or partial exercise of the underwriter&rsquo;s
over-allotment option for the Company&rsquo;s IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans
made to the Company by the Insiders; (vii) &ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement
on Form S-1 filed by the Company with respect to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the
trust account into which a portion of the net proceeds of the Company&rsquo;s IPO will be deposited.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">13.</TD><TD STYLE="text-align: justify">Any notice, consent or request to be given in connection
with any of the terms or provisions of this letter agreement shall be in writing and shall be sent by express mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">14.</TD><TD STYLE="text-align: justify">No party hereto may assign either this letter agreement
or any of its rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported
assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest
or title to the purported assignee. This letter agreement shall be binding on the parties hereto and any successors and assigns
thereof.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">15.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and understands that the
Underwriters and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with
the IPO.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ John T. Fitzgerald</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">John T. Fitzgerald</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

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<TYPE>EX-10.3(H)
<SEQUENCE>17
<FILENAME>v384170_ex10-3h.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN JOSHUA HOROWITZ AND 1347 CAPITAL CORP.
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(h)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as a director of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned&rsquo;s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA Questionnaire and Regulation
D Compliance Certification previously furnished to the Company and the Representative are true and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Joshua Horowitz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Joshua Horowitz</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 53%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.3(I)
<SEQUENCE>18
<FILENAME>v384170_ex10-3i.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN LEO CHRISTOPHER SAENGER III AND 1347 CAPITAL CORP.
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(i)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="text-decoration: underline; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>Initial Public Offering</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as a director of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned&rsquo;s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA Questionnaire and Regulation
D Compliance Certification previously furnished to the Company and the Representative are true and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Leo Christopher Saenger III</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Leo Christopher Saenger III </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 6%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TYPE>EX-10.3(J)
<SEQUENCE>19
<FILENAME>v384170_ex10-3j.htm
<DESCRIPTION>LETTER AGREEMENT BETWEEN THOMAS D. SARGENT AND 1347 CAPITAL CORP.
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3(j)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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<TR>
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><U>Initial Public Offering</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">This letter is being
delivered to you in accordance with the Underwriting Agreement (the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;) entered
into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and EarlyBirdCapital,
Inc., as Representative (the &ldquo;<B><I>Representative</I></B>&rdquo;) of the several Underwriters named in Schedule I thereto
(the &ldquo;<B><I>Underwriters</I></B>&rdquo;), relating to an underwritten initial public offering (the &ldquo;<B><I>IPO</I></B>&rdquo;)
of the Company&rsquo;s units (the &ldquo;<B><I>Units</I></B>&rdquo;), each comprised of one share of the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;), one right (&ldquo;<B><I>Right</I></B>&rdquo;)
to receive one-tenth of one share of Common Stock upon consummation of the Company&rsquo;s initial Business Combination, and one
warrant to purchase one-half of one share of Common Stock (&ldquo;<B><I>Warrant</I></B>&rdquo;). Certain capitalized terms used
herein are defined in paragraph 14 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">If the Company solicits approval of its stockholders of a Business Combination, the undersigned
will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor
of such Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">(a) In the event that the Company fails to consummate a Business Combination within 18 months from
the closing of the Company&rsquo;s IPO (or within 24 months if the Company has entered into a letter of intent or definitive agreement
with a target business for a Business Combination within 18 months from the closing but such Business Combination has not yet been
consummated within such 18-month period), the undersigned shall take all reasonable steps to (i) cause the Company to cease all
operations except for the purpose of winding up, (ii) as promptly as possible, but no more than ten business days after the expiration
of such period, redeem 100% of the outstanding IPO Shares for a pro rata portion of the funds held in the Trust Account and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining holders
of Common Stock and the Board of Directors, cause the Company to dissolve and liquidate, subject (in the case of (ii) and (iii)
above) to the Company&rsquo;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">(b) The undersigned hereby waives
(i) any and all right, title, interest or claim of any kind in or to any funds in the Trust Account with respect to his, her or
its Insider Shares and shares of Common Stock included in the Private Units if the Company fails to consummate a Business Combination
within the requisite time period or (ii) their conversion rights with respect to shares of Common Stock held by him her or it in
connection with the completion of a Business Combination. The undersigned acknowledges and agrees that there will be no distribution
from the Trust Account with respect to any Rights or Warrants held by the undersigned, all of which will terminate on the Company&rsquo;s
liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock
Escrow Agreement which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The undersigned acknowledges and agrees that prior to entering into a Business Combination with
a target business that is affiliated with any Insiders of the Company or their Affiliates, such transaction must be approved by
a majority of the Company&rsquo;s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company&rsquo;s unaffiliated stockholders from a financial
point of view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive and will not accept any fees, reimbursements or other cash payments prior to, or
for services rendered in order to effectuate, the consummation of the Business Combination; <U>provided</U> that the Company shall
be allowed (i) to repay at the consummation of a Business Combination a non-interest bearing loan in an aggregate amount of $125,000
made to the Company by 1347 Investors LLC to cover the IPO expenses, (ii) to pay $10,000 per month to 1347 Capital LLC for office
space and related services, subject to adjustment as described in the Registration Statement, (iii) to repay working capital loans
made to the Company upon consummation of a Business Combination or, at the discretion of the lender, with respect to up to an aggregate
of $500,000 of working capital loans from all lenders, by converting such loans into Private Units at a price of $10.00 per unit,
as more fully described in the Registration Statement, and (iv) reimburse the undersigned and any Affiliate of the undersigned
for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Neither the undersigned, any member of the immediate family of the undersigned, nor any Affiliate
of the undersigned will be entitled to receive or accept a finder&rsquo;s fee or any other compensation in the event the undersigned,
any member of the immediate family of the undersigned or any Affiliate of the undersigned originates a Business Combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">The undersigned agrees to serve as a director of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned&rsquo;s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned&rsquo;s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned&rsquo;s FINRA Questionnaire and Regulation
D Compliance Certification previously furnished to the Company and the Representative are true and accurate in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the
IPO or in the aftermarket, and agrees that he will not seek conversion with respect to, or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth of the Company&rsquo;s Amended
and Restated Certificate of Incorporation that would affect the substance or timing of the Company&rsquo;s obligation to redeem
100% of the IPO Shares if the Company does not complete a Business Combination within the requisite time period, unless the Company
provides its public stockholders with the opportunity to redeem their IPO Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds
held therein and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding
IPO Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him, her or it arising out of or relating in any
way to this letter agreement (a &ldquo;<B><I>Proceeding</I></B>&rdquo;) shall be brought and enforced in the courts of the State
of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, and (ii) waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>As used herein, (i) &ldquo;<B><I>Affiliate</I></B>&rdquo; shall have the meaning given to such term in Rule 405 under the Securities
Act of 1933, as amended, (ii) a &ldquo;<B><I>Business Combination</I></B>&rdquo; shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(iii) &ldquo;<B><I>Insiders</I></B>&rdquo; shall mean all officers, directors and stockholders of the Company immediately prior
to the IPO; (iv) &ldquo;<B><I>Insider Shares</I></B>&rdquo; shall mean all of the shares of Common Stock of the Company acquired
by an Insider prior to the IPO; (v) &ldquo;<B><I>IPO Shares</I></B>&rdquo; shall mean the shares of Common Stock issued in the
Company&rsquo;s IPO; (vi) &ldquo;<B><I>Private Units</I></B>&rdquo; shall mean (x) the Units purchased in the private placement
taking place simultaneously with the consummation of the Company&rsquo;s IPO, (y) the additional Units that will be purchased in
a private placement upon the full or partial exercise of the underwriter&rsquo;s over-allotment option for the Company&rsquo;s
IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii)
&ldquo;<B><I>Registration Statement</I></B>&rdquo; means the registration statement on Form S-1 filed by the Company with respect
to the IPO; and (viii) &ldquo;<B><I>Trust Account</I></B>&rdquo; shall mean the trust account into which a portion of the net proceeds
of the Company&rsquo;s IPO will be deposited.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">14.</TD><TD>No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">15.</TD><TD>The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Thomas D. Sargent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Thomas D. Sargent</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Acknowledged and Agreed:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>1347 CAPITAL CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 53%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page to Letter Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>20
<FILENAME>v384170_ex10-4.htm
<DESCRIPTION>STOCK ESCROW AGREEMENT AMONG THE COMPANY, 1347 INVESTORS LLC AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>



<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>STOCK ESCROW AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This STOCK ESCROW AGREEMENT, dated as of
July 15, 2014 (this &ldquo;Agreement&rdquo;), is made by and among 1347 CAPITAL CORP., a Delaware corporation (&ldquo;Company&rdquo;),
1347 INVESTORS LLC, a Delaware limited liability company (the &ldquo;Initial Stockholder&rdquo;), and CONTINENTAL STOCK TRANSFER
&amp; TRUST COMPANY, a New York corporation (&ldquo;Escrow Agent&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company has entered into an
Underwriting Agreement, dated as of July 15, 2014 (the &ldquo;Underwriting Agreement&rdquo;), with EarlyBirdCapital, Inc. (&ldquo;EBC&rdquo;)
acting as representative of the several underwriters (collectively, the &ldquo;Underwriters&rdquo;), pursuant to which, among other
matters, the Underwriters have agreed to purchase 4,000,000 units (&ldquo;Units&rdquo;) of the Company, plus an additional 600,000
Units if the Underwriters exercise their over-allotment option in full. Each Unit consists of one share of common stock of the
Company, par value $0.0001 per share (&ldquo;Common Stock&rdquo;), one right (a &ldquo;Right&rdquo;) to receive one-tenth of one
share of Common Stock upon the Company&rsquo;s initial business combination and one warrant (a &ldquo;Warrant&rdquo;) to purchase
one-half of one share of Common Stock, all as more fully described in the Company&rsquo;s final Prospectus, dated July 15, 2014
(the &ldquo;Prospectus&rdquo;), comprising part of the Company&rsquo;s Registration Statement on Form S-1 (File No. 333-195695)
under the Securities Act of 1933, as amended (the &ldquo;Registration Statement&rdquo;), declared effective on July 15, 2014 (the
&ldquo;Effective Date&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Initial Stockholder has agreed
as a condition of the sale of the Units to deposit the 1,150,000 shares of Common Stock held by the Initial Stockholder prior to
the Company&rsquo;s initial public offering as set forth opposite its name in Exhibit A attached hereto (the &ldquo;Escrow Shares&rdquo;)
in escrow as hereinafter provided; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company and the Initial Stockholder
desire that the Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as hereinafter provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT IS AGREED:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><U>Appointment of Escrow Agent</U>. The Company and the Initial Stockholder 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD><U>Deposit of Escrow Shares</U>. On or before the Effective Date, the Initial Stockholder shall deliver to the Escrow Agent
certificates representing the Escrow Shares, together with applicable stock powers, to be held and disbursed subject to the terms
and conditions of this Agreement. The Initial Stockholder acknowledges that the certificate representing the Escrow Shares is legended
to reflect the deposit of such Escrow Shares under this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD><U>Disbursement of the Escrow Shares</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.1.</TD><TD>The Escrow Agent shall hold the Escrow Shares during the period (the &ldquo;Escrow Period&rdquo;) commencing on the date hereof
and (i) for 50% of the Escrow Shares, ending on the earlier of (x) one year after the date of the consummation of the Company&rsquo;s
initial business combination (as described in the Registration Statement, hereinafter a &ldquo;Business Combination&rdquo;), (y)
the date on which the closing price of the Company&rsquo;s Common Stock equals or exceeds $12.50 per share (as adjusted for stock
splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing
after the Company&rsquo;s Business Combination and (z) the date of consummation of a Sale Transaction, and (ii) for the remaining
50% of the Escrow Shares, ending on the earlier of (x) one year after the date of the consummation of a Business Combination and
(y) the date of consummation of a Sale Transaction. For purposes hereof, a &ldquo;Sale Transaction&rdquo; means a liquidation,
merger, stock exchange or other similar transaction subsequent to the Company&rsquo;s initial Business Combination which results
in all of the stockholders of the Company or such other entity surviving the Business Combination having the right to exchange
their shares of Common Stock for cash, securities or other property. The Company shall promptly provide notice of the consummation
of a Business Combination or a Sale Transaction to the Escrow Agent. Upon completion of the Escrow Period, the Escrow Agent shall
disburse the applicable amount of the Initial Stockholder&rsquo;s Escrow Shares (and any applicable stock power) to such Initial
Stockholder. In addition, 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 destroy the certificates representing the Escrow Shares.
The Escrow Agent shall have no further duties hereunder after the disbursement of the Escrow Shares in accordance with this Section
3.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">3.2.</TD><TD>Notwithstanding Section 3.1, if the Underwriters do not exercise in full their over-allotment option to purchase an additional
600,000 Units of the Company within 45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Initial
Stockholder agrees that the Escrow Agent shall return to the Company for cancellation, at no cost, the number of Escrow Shares
held by such holder determined by multiplying 150,000 by a fraction, (i) the numerator of which is 600,000 minus the number of
shares of Common Stock purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator
of which is 600,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the Underwriters&rsquo;
over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with their exercise thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD><U>Rights of Initial Stockholder in Escrow Shares</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.1.</TD><TD><U>Voting Rights as a Stockholder</U>. Subject to the terms of the Insider Letter described in Section 4.4 hereof and except
as herein provided, the Initial Stockholder shall retain all of its rights as a stockholder of the Company during the Escrow Period,
including, without limitation, the right to vote such shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.2.</TD><TD><U>Dividends and Other Distributions in Respect of the Escrow Shares</U>. During the Escrow Period, all dividends payable in
cash with respect to the Escrow Shares shall be paid to the Initial Stockholder, but all dividends payable in stock or other non-cash
property (&ldquo;Non-Cash Dividends&rdquo;) shall be delivered to the Escrow Agent to hold in accordance with the terms hereof.
As used herein, the term &ldquo;Escrow Shares&rdquo; shall be deemed to include the Non-Cash Dividends distributed thereon, if
any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.3.</TD><TD><U>Restrictions on Transfer</U>. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) to
the Company&rsquo;s officers, directors, advisors and employees, (ii) as a distribution to partners, members or stockholders of
the Initial Stockholder upon the liquidation and dissolution of the Initial Stockholder, (iii) by bona fide gift to a member of
the Initial Stockholder&rsquo;s immediate family or to a trust, the beneficiary of which is the Initial Stockholder or a member
of the Initial Stockholder&rsquo;s immediate family for estate planning purposes, (iv) by virtue of the laws of descent and distribution
upon death, (v) pursuant to a qualified domestic relations order, (vi) by private sales at prices no greater than the price at
which the Escrow Shares were originally purchased or (vii) to the Company for cancellation as set forth in Section 3.2 hereof or
in connection with the consummation of a Business Combination, in each case, except for clause (vii), on the condition that such
transfers may be implemented only upon the respective transferee&rsquo;s written agreement to be bound by the terms and conditions
of this Agreement and of the Insider Letter (as defined below) signed by the Initial Stockholder transferring the Escrow Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">4.4.</TD><TD><U>Insider Letters</U>. The Initial Stockholder has executed a letter agreement with the Company, dated as indicated on Exhibit
A hereto, and the form of which is filed as an exhibit to the Registration Statement (the &ldquo;Insider Letter&rdquo;), respecting
the rights and obligations of such Initial Stockholder in certain events, including but not limited to the liquidation of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD><U>Concerning the Escrow Agent</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.1.</TD><TD><U>Good Faith Reliance</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.2.</TD><TD><U>Indemnification</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.3.</TD><TD><U>Compensation</U>. The Escrow Agent shall be entitled to compensation from the Company for all services rendered by it hereunder
as set forth in Exhibit B. The Escrow Agent shall also be entitled to reimbursement from the Company for all reasonable expenses
paid or incurred by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors&rsquo;
and agents&rsquo; fees and disbursements and all taxes or other governmental charges.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.4.</TD><TD><U>Further Assurances</U>. From time to time on and after the date hereof, the Company and the Initial Stockholder shall deliver
or cause to be delivered to the Escrow Agent such further documents and instruments and shall do or cause to be done such further
acts as the Escrow Agent shall reasonably request to carry out more effectively the provisions and purposes of this Agreement,
to evidence compliance herewith or to assure itself that it is protected in acting hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.5.</TD><TD><U>Resignation</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.6.</TD><TD><U>Discharge of Escrow Agent</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.7.</TD><TD><U>Liability</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">5.8.</TD><TD><U>Waiver</U>. The Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind
(&ldquo;Claim&rdquo;) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust
Agreement, dated as of the date hereof, by and between the Company and the Escrow Agent as trustee thereunder) and hereby agrees
not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD><U>Miscellaneous</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.1.</TD><TD><U>Governing Law</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.2.</TD><TD><U>Third Party Beneficiaries</U>. The Initial Stockholder hereby acknowledges that the Underwriters are third party beneficiaries
of this Agreement and that this Agreement may not be modified or changed without the prior written consent of EBC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.3.</TD><TD><U>Entire Agreement</U>. 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.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.4.</TD><TD><U>Headings</U>. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.5.</TD><TD><U>Binding Effect</U>. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their
legal representatives, successors and assigns.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.6.</TD><TD><U>Notices</U>. 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:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">If to the Company, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">150 Pierce Road, 6th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Itasca, IL 60143</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: Hassan R. Baqar, Chief Financial Officer and
Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">If to the Initial Stockholder, to its address set
forth on Exhibit A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">and if to the Escrow Agent, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Continental Stock Transfer &amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">17 Battery Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">A copy of any notice sent hereunder shall be sent
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">EarlyBirdCapital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">275 Madison Avenue, 27th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: Michael Powell, Managing Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">and:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">McDermott Will &amp; Emery LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">340 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">New York, New York 10173</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: Joel L. Rubinstein</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">and:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Graubard Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">The Chrysler Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">405 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">New York, New York 10174</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">Attn: David Alan Miller, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.3in">6.7.</TD><TD><U>Liquidation of the Company</U>. The Company shall give the Escrow Agent written notification of the liquidation and dissolution
of the Company in the event that the Company fails to consummate a Business Combination within the time period specified in the
Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WITNESS the execution of this Agreement
as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">COMPANY:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1347 CAPITAL CORP. &nbsp; &nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Gordon G. Pratt</FONT></TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gordon G. Pratt</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President, Chief Executive Officer and Director &nbsp; &nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">INITIAL STOCKHOLDER:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1347 INVESTORS LLC</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Hassan R. Baqar</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Hassan R. Baqar</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>President</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ESCROW AGENT: &nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CONTINENTAL STOCK TRANSFER &amp; TRUST COMPANY</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Monty Harry</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Monty Harry</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: </FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to Stock Escrow Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name and Address of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Initial Stockholder</P></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Shares</P></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Stock</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Certificate Number</P></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Insider Letter</P></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1347 Investors LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">150 Pierce Road, 6th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Itasca, IL 60143</P></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">1,150,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ESCROW AGENT FEES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">$200 escrow agent fee per month.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>21
<FILENAME>v384170_ex10-5.htm
<DESCRIPTION>EX-10.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRIVATE UNITS PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS PRIVATE UNITS
PURCHASE AGREEMENT, dated as of July 15, 2014 (as it may from time to time be amended and including all exhibits referenced herein,
this &ldquo;Agreement&rdquo;), is entered into by and between 1347 Capital Corp., a Delaware corporation (the &ldquo;Company&rdquo;),
and 1347 Investors LLC, a Delaware limited liability company (the &ldquo;Purchaser&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company intends
to consummate an initial public offering (the &ldquo;Public Offering&rdquo;) of the Company&rsquo;s units (the &ldquo;Public Units&rdquo;),
each Public Unit consisting of one share of the Company&rsquo;s common stock, par value $0.0001 per share (a &ldquo;Share&rdquo;),
one right to receive one-tenth (1/10) of a Share automatically on the consummation of an initial business combination and one warrant
(a &ldquo;Public Warrant&rdquo;). Each Public Warrant entitles the holder thereof to purchase one-half of one Share. The Company
will not issue fractional Shares. As a result, holders of Public Warrants must exercise Public Warrants in multiples of two Public
Warrants, at a price of $11.50 per full Share, subject to adjustment as described in the prospectus associated with the Public
Offering, to validly exercise Public Warrants. The Purchaser has agreed to purchase an aggregate of 180,000 units (or 198,000 units
if the underwriters&rsquo; over-allotment option in connection with the Public Offering is exercised in full) (the &ldquo;Private
Units&rdquo;), each Private Unit consisting of one share of the Company&rsquo;s common stock (a &ldquo;Private Share&rdquo;), one
right to receive one-tenth (1/10) of a Share automatically on the consummation of an initial business combination (a &ldquo;Private
Right&rdquo;) and one warrant (a &ldquo;Private Warrant&rdquo; and, together with the Private Units, Private Shares, Private Rights
and the Shares underlying the Private Warrants and Private Rights, the &ldquo;Securities&rdquo;). The Private Units are identical
to the Public Units, except that the Private Units may not be transferred, assigned or sold (except to certain permitted transferees,
provided the transferees agree to certain terms and restrictions, as described herein) until the completion of the Company&rsquo;s
initial business combination. On the Closing Date, the Purchase Price (as defined below) for the Private Units will be deposited
in the trust account that will hold the proceeds of the Public Offering (the &ldquo;Trust Account&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1. Authorization,
Purchase and Sale; Terms of the Private Units.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Authorization
of the Private Units</U>. The Company has duly authorized the issuance and sale of the Private Units to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Purchase and
Sale of the Private Units</U>. On the date that the Public Offering is consummated or at such earlier time and date as may be mutually
agreed by the Purchaser and the Company (the &ldquo;Closing Date&rdquo;), the Company shall issue and sell to the Purchaser, and
the Purchaser shall purchase from the Company, the Private Units at a price of $10.00 per unit for an aggregate purchase price
of $1,800,000 (or $1,980,000 if the underwriters&rsquo; over-allotment option in connection with the Public Offering is exercised
in full) (the &ldquo;Purchase Price&rdquo;), which shall be paid by wire transfer of immediately available funds to Continental
Stock Transfer &amp; Trust Company, acting as escrow agent in connection with the sale of the Private Units, at least 24 hours
prior to the date of the prospectus relating to the Public Offering, to hold in a non-interest bearing account until the Public
Offering is consummated. On the Closing Date, upon the deposit of the Purchase Price into the Trust Account by Continental Stock
Transfer &amp; Trust Company, the Company shall deliver a certificate evidencing the Private Units duly registered in the Purchaser&rsquo;s
name to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Terms of the
Private Units</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) Each Private Unit
shall consist of one Private Share, one Private Right and one Private Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) Each Private Warrant
shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with
the Public Offering (the &ldquo;Warrant Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) At the time
of the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement (the &ldquo;Registration
Rights Agreement&rdquo;) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Restrictions
on Transfer</U>. During the period commencing on the date of the closing of the Public Offering and ending on the date on which
the Company&rsquo; completes an initial business combination, the only permitted transfers of the Securities will be (i) to the
Company&rsquo;s officers, directors, advisors and employees, (ii) as a distribution to partners, members or stockholders of the
Purchaser upon the liquidation and dissolution of the Purchaser, (iii) by bona fide gift to a member of the Purchaser&rsquo;s immediate
family or to a trust, the beneficiary of which is the Purchaser or a member of the Purchaser&rsquo;s immediate family for estate
planning purposes, (iv) by virtue of the laws of descent and distribution upon death of the Purchaser, (v) pursuant to a qualified
domestic relations order, (vi) by private sales at prices no greater than the price at which the Private Units were originally
purchased or (vii) to the Company for cancellation in connection with the consummation of the Company&rsquo;s initial business
combination, in each case, except for clause (vii), on the condition that such transfers may be implemented only upon the respective
transferee&rsquo;s written agreement to be bound by the terms and conditions of this Agreement and of the letter agreement between
the Purchaser and the Company signed by the Purchaser in connection with the Public Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2. Representations
and Warranties of the Company.</B> As a material inducement to the Purchaser to enter into this Agreement and purchase the Private
Units, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing
Date) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Organization
and Corporate Power</U>. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Authorization;
No Breach</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) The execution,
delivery and performance of this Agreement and the Securities have been duly authorized by the Company as of the Closing Date.
This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance
in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Securities will constitute
valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The execution
and delivery by the Company of this Agreement and the Securities, the issuance and sale of the Securities and the fulfillment of
and compliance with the respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict
with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company&rsquo;s capital stock or assets under, (d) result in a violation
of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with,
any court or administrative or governmental body or agency pursuant to the Certificate of Incorporation of the Company or the Bylaws
of the Company (in effect on the date hereof or as may be amended or adopted prior to completion of the contemplated Public Offering),
or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to
which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Title to Securities</U>.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Securities will be duly
and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and
the Warrant Agreement, the Purchaser will have good title to the Securities, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions
under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Regulation D
Qualification</U>. Neither the Company nor, to its knowledge, any of its affiliates, members, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule
506(d) of Regulation D under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Governmental
Consents</U>. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3. Representations
and Warranties of the Purchaser.</B> As a material inducement to the Company to enter into this Agreement and issue and sell the
Private Units to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties
shall survive the Closing Date) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Organization
and Requisite Authority</U>. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Authorization;
No Breach</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This Agreement
constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors&rsquo;
rights and to general equitable principles (whether considered in a proceeding in equity or law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The execution
and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does
not and shall not as of the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions
of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Investment Representations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) The Purchaser is
acquiring the Securities for the Purchaser&rsquo;s own account, for investment purposes only and not with a view towards, or for
resale in connection with, any public sale or distribution thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The Purchaser
is an &ldquo;accredited investor&rdquo; as such term is defined in Rule 501(a) of Regulation D under the Securities Act, and the
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) The Purchaser
understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy
of, and the Purchaser&rsquo;s compliance with, the representations and warranties of the Purchaser set forth herein in order to
determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) The Purchaser
did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) The Purchaser has
been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the
offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to
ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an
informed investment decision with respect to the acquisition of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi) 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 the Securities by the Purchaser
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii) The Purchaser
understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities
laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold
in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the
Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the
Securities and Exchange Commission (the &ldquo;SEC&rdquo;) has taken the position that promoters or affiliates of a blank check
company and their transferees, both before and after a business combination, are deemed to be &ldquo;underwriters&rdquo; under
the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to
the Securities Act would not be available for resale transactions of the Securities, despite technical compliance with the requirements
of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the
registration requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(viii) The Purchaser
has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments
in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an
investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities.
The Purchaser can afford a complete loss of its investment in the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4. Conditions
of the Purchaser&rsquo;s Obligations.</B> The obligation of the Purchaser to purchase and pay for the Private Units is subject
to the fulfillment, on or before the Closing Date, of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Representations
and Warranties</U>. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as
of the Closing Date as though then made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Performance</U>.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>No Injunction</U>.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Warrant Agreement</U>.
The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5. Conditions
of the Company&rsquo;s Obligations.</B> The obligations of the Company to the Purchaser under this Agreement are subject to the
fulfillment, on or before the Closing Date, of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Representations
and Warranties</U>. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and
as of the Closing Date as though then made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Performance</U>.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Corporate Consents</U>.
The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this
Agreement and the Warrant Agreement and the issuance and sale of the Private Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>No Injunction</U>.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Warrant Agreement</U>.
The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 6. Termination.</B>
This Agreement may be terminated at any time after November 1, 2014 upon the election by either the Company or the Purchaser upon
written notice to the other party if the closing of the Public Offering does not occur prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7. Survival
of Representations and Warranties.</B> All of the representations and warranties contained herein shall survive the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 8. Definitions.</B>
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement
on Form S-1 (File No. 333-195695) that the Company filed with the SEC on May 5, 2014, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 9. Miscellaneous.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Successors and
Assigns</U>. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so
expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchaser to affiliates thereof (including, without limitation, one or more of its members).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Severability</U>.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Counterparts</U>.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Descriptive Headings;
Interpretation</U>. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word &ldquo;including&rdquo; in this Agreement shall be by way of example rather than by
limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Governing Law</U>.
This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed
in accordance with the internal laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">F. <U>Amendments</U>.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties hereto have executed this Agreement to be effective as of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>COMPANY</B>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1347 CAPITAL CORP</B>.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By: </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt">&nbsp;/s/ Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Name: Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Title: President, Chief Executive Officer and Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>PURCHASER</B>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 INVESTORS LLC</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Hassan R. Baqar</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Name: Hassan R. Baqar </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Title: President</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="text-align: center; font-size: 10pt"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">[Signature Page to Private Units Purchase Agreement]</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>22
<FILENAME>v384170_ex10-6.htm
<DESCRIPTION>EX-10.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.6</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$15 EXERCISE PRICE SPONSOR WARRANTS PURCHASE
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS $15 EXERCISE PRICE
SPONSOR WARRANTS PURCHASE AGREEMENT, dated as of July 15, 2014 (as it may from time to time be amended and including all exhibits
referenced herein, this &ldquo;Agreement&rdquo;), is entered into by and between 1347 Capital Corp., a Delaware corporation (the
&ldquo;Company&rdquo;), and 1347 Investors LLC, a Delaware limited liability company (the &ldquo;Purchaser&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company intends
to consummate an initial public offering of the Company&rsquo;s units (the &ldquo;Public Offering&rdquo;), each unit consisting
of one share of the Company&rsquo;s common stock, par value $0.0001 per share (a &ldquo;Share&rdquo;), one right to receive one-tenth
(1/10) of a Share automatically on the consummation of an initial business combination and one warrant (a &ldquo;Public Warrant&rdquo;).
Each Public Warrant entitles the holder thereof to purchase one-half of one Share at a price of $11.50 per full Share, subject
to adjustment as described in the prospectus associated with the Public Offering. The Company will not issue fractional Shares.
As a result, holders of Public Warrants may only exercise such warrants for full Shares. The Purchaser has agreed to purchase an
aggregate of 600,000 warrants, each entitling the holder to purchase one Share at an exercise price of $15.00 per Share (the &ldquo;$15
Exercise Price Sponsor Warrants&rdquo; and, together with the Shares issuable upon exercise of the $15 Exercise Price Sponsor Warrants,
the &ldquo;Securities&rdquo;). On the Closing Date (as defined below), the Purchase Price (as defined below) for the $15 Exercise
Price Sponsor Warrants will be deposited in the trust account that will hold the proceeds of the Public Offering (the &ldquo;Trust
Account&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1. Authorization,
Purchase and Sale; Terms of the $15 Exercise Price Sponsor Warrants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Authorization
of the $15 Exercise Price Sponsor Warrants</U>. The Company has duly authorized the issuance and sale of the $15 Exercise Price
Sponsor Warrants to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Purchase and
Sale of the $15 Exercise Price Sponsor Warrants</U>. On the date that the Public Offering is consummated or at such earlier time
and date as may be mutually agreed by the Purchaser and the Company (the &ldquo;Closing Date&rdquo;), the Company shall issue and
sell to the Purchaser, and the Purchaser shall purchase from the Company, the $15 Exercise Price Sponsor Warrants at a price of
$0.50 per warrant for an aggregate purchase price of $300,000 (the &ldquo;Purchase Price&rdquo;), which shall be paid by wire transfer
of immediately available funds to Continental Stock Transfer &amp; Trust Company, acting as escrow agent in connection with the
sale of the $15 Exercise Price Sponsor Warrants, at least 24 hours prior to the date of the prospectus relating to the Public Offering,
to hold in a non-interest bearing account until the Public Offering is consummated. On the Closing Date, upon the deposit of the
Purchase Price into the Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Account by Continental Stock Transfer &amp;
Trust Company, the Company shall deliver a certificate evidencing the $15 Exercise Price Sponsor Warrants duly registered in the
Purchaser&rsquo;s name to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Terms of the
$15 Exercise Price Sponsor Warrants</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) Each $15 Exercise
Price Sponsor Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent,
in connection with the Public Offering (the &ldquo;Warrant Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) At the time of
the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement (the &ldquo;Registration
Rights Agreement&rdquo;) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Restrictions
on Transfer</U>. During the period commencing on the date of the closing of the Public Offering and ending on the date on which
the Company completes an initial business combination, the only permitted transfers of the $15 Exercise Price Sponsor Warrants
will be (i) to the Company&rsquo;s officers, directors, advisors and employees, (ii) as a distribution to partners, members or
stockholders of the Purchaser upon the liquidation and dissolution of the Purchaser, (iii) by bona fide gift to a member of the
Purchaser&rsquo;s immediate family or to a trust, the beneficiary of which is the Purchaser or a member of the Purchaser&rsquo;s
immediate family for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant
to a qualified domestic relations order, (vi) by private sales at prices no greater than the price at which the $15 Exercise Price
Sponsor Warrants were originally purchased or (vii) to the Company for cancellation in connection with the consummation of the
Company&rsquo;s initial business combination, in each case, except for clause (vii), on the condition that such transfers may be
implemented only upon the respective transferee&rsquo;s written agreement to be bound by the terms and conditions of this Agreement
and of the letter agreement between the Purchaser and the Company signed by the Purchaser in connection with the Public Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2. Representations
and Warranties of the Company.</B> As a material inducement to the Purchaser to enter into this Agreement and purchase the $15
Exercise Price Sponsor Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties
shall survive the Closing Date) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Organization
and Corporate Power</U>. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Authorization;
No Breach</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) The execution,
delivery and performance of this Agreement and the $15 Exercise Price Sponsor Warrants have been duly authorized by the Company
as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with
its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the
$15 Exercise Price Sponsor Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with
their terms as of the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The execution
and delivery by the Company of this Agreement and the $15 Exercise Price Sponsor Warrants, the issuance and sale of the Securities
and the fulfillment of and compliance with the respective terms hereof and thereof by the Company, do not and will not as of the
Closing Date (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under,
(c) result in the creation of any lien, security interest, charge or encumbrance upon the Company&rsquo;s capital stock or assets
under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice
or declaration to, or filing with, any court or administrative or governmental body or agency pursuant to the Certificate of Incorporation
of the Company or the Bylaws of the Company (in effect on the date hereof or as may be amended or adopted prior to completion of
the contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject, or any agreement,
order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal
or state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Title to Securities</U>.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Securities will be duly
and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and
the Warrant Agreement, the Purchaser will have good title to the Securities, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions
under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Regulation D
Qualification</U>. Neither the Company nor, to its knowledge, any of its affiliates, members, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule
506(d) of Regulation D under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Governmental
Consents</U>. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3. Representations
and Warranties of the Purchaser.</B> As a material inducement to the Company to enter into this Agreement and issue and sell the
$15 Exercise Price Sponsor Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations
and warranties shall survive the Closing Date) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Organization
and Requisite Authority</U>. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Authorization;
No Breach</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) This Agreement
constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors&rsquo;
rights and to general equitable principles (whether considered in a proceeding in equity or law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The execution
and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does
not and shall not as of the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions
of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Investment Representations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) The Purchaser is
acquiring the Securities for the Purchaser&rsquo;s own account, for investment purposes only and not with a view towards, or for
resale in connection with, any public sale or distribution thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) The Purchaser
is an &ldquo;accredited investor&rdquo; as such term is defined in Rule 501(a) of Regulation D under the Securities Act, and the
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) The Purchaser
understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy
of, and the Purchaser&rsquo;s compliance with, the representations and warranties of the Purchaser set forth herein in order to
determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) The Purchaser
did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) The Purchaser has
been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the
offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to
ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an
informed investment decision with respect to the acquisition of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi) 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 the Securities by the Purchaser
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii) The Purchaser
understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities
laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold
in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the
Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the
Securities and Exchange Commission (the &ldquo;SEC&rdquo;) has taken the position that promoters or affiliates of a blank check
company and their transferees, both before and after a business combination, are deemed to be &ldquo;underwriters&rdquo; under
the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to
the Securities Act would not be available for resale transactions of the Securities despite technical compliance with the requirements
of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the
registration requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(viii) The Purchaser
has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments
in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an
investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities.
The Purchaser can afford a complete loss of its investment in the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4. Conditions
of the Purchaser&rsquo;s Obligations.</B> The obligation of the Purchaser to purchase and pay for the $15 Exercise Price Sponsor
Warrants is subject to the fulfillment, on or before the Closing Date, of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Representations
and Warranties</U>. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as
of the Closing Date as though then made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Performance</U>.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>No Injunction</U>.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Warrant Agreement</U>.
The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5. Conditions
of the Company&rsquo;s Obligations.</B> The obligations of the Company to the Purchaser under this Agreement are subject to the
fulfillment, on or before the Closing Date, of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Representations
and Warranties</U>. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and
as of the Closing Date as though then made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Performance</U>.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Corporate Consents</U>.
The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this
Agreement and the Warrant Agreement and the issuance and sale of the $15 Exercise Price Sponsor Warrants hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>No Injunction</U>.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Warrant Agreement</U>.
The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 6. Termination.</B>
This Agreement may be terminated at any time after November 1, 2014 upon the election by either the Company or the Purchaser upon
written notice to the other party if the closing of the Public Offering does not occur prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7. Survival
of Representations and Warranties.</B> All of the representations and warranties contained herein shall survive the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 8. Definitions.</B>
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement
on Form S-1 (File No. 333-195695) that the Company filed with the U.S. Securities and Exchange Commission on May 5, 2014, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 9. Miscellaneous.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. <U>Successors and
Assigns</U>. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so
expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchaser to affiliates thereof (including, without limitation, one or more of its members).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. <U>Severability</U>.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C. <U>Counterparts</U>.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D. <U>Descriptive Headings;
Interpretation</U>. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word &ldquo;including&rdquo; in this Agreement shall be by way of example rather than by
limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E. <U>Governing Law</U>.
This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed
in accordance with the internal laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">F. <U>Amendments</U>.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties hereto have executed this Agreement to be effective as of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>COMPANY</B>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1347 CAPITAL CORP</B>.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By: </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt">&nbsp;/s/ Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Name: Gordon Pratt</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Title: &nbsp;&nbsp;President, Chief Executive Officer and Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>PURCHASER</B>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>1347 INVESTORS LLC</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;/s/ Hassan R. Baqar</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Name: Hassan R. Baqar </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">Title: &nbsp;&nbsp;President</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="text-align: center; font-size: 10pt"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">[Signature Page to $15 Exercise Price Sponsor Warrants Purchase Agreement]</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>23
<FILENAME>v384170_ex99-1.htm
<DESCRIPTION>PRESS RELEASE ANNOUNCING PRICING OF IPO.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tex99-1logo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1347 CAPITAL CORP. ANNOUNCES PRICING
OF INITIAL PUBLIC OFFERING </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Itasca, IL - July 15, 2014 &ndash; 1347
Capital Corp. (&ldquo;1347 Capital&rdquo; or the &ldquo;Company&rdquo;), a company formed for the purpose of entering into a merger,
share exchange, asset acquisition or other similar business combination with one or more businesses or entities, today announced
the pricing of its initial public offering of four million units at a price to the public of $10.00 per unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each unit issued in the initial public
offering consists of one share of common stock, one right to receive one-tenth of a share of common stock automatically on the
consummation of an initial business combination, and one warrant to acquire one-half of one share of common stock at a price of
$11.50 per full share of common stock. 1347 Capital has granted the representative of the underwriters a 45-day option to purchase
up to 600,000 additional units to cover over-allotments, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The units are expected to begin trading
Wednesday, July 16, 2014, on The NASDAQ Capital Market (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;TFSCU.&rdquo; The securities
comprising the units will begin separate trading on October 13, 2014, unless EarlyBirdCapital, Inc. determines that an earlier
date is acceptable. Once the securities comprising the units begin separate trading, the common stock, warrants and rights are
expected to be traded on Nasdaq under the symbols &ldquo;TFSC,&rdquo; &ldquo;TFSCW&rdquo; and &ldquo;TFSCR,&rdquo; respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EarlyBirdCapital, Inc. acted as sole book-running
manager for the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Aegis Capital Corp. acted as co-manager
for the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A registration statement relating to these
securities was declared effective by the Securities and Exchange Commission on July 15, 2014. This offering is being made only
by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting EarlyBirdCapital, Inc.,
275 Madison Avenue, Suite 1203, New York, New York 10016. Copies of the registration statement can be accessed through the SEC&rsquo;s
website at www.sec.gov</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About 1347 Capital Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital Corp. is a blank check company
formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses or entities. The Company&rsquo;s efforts to identify a target
business will not be limited to a particular industry or geographic region, although it intends to focus efforts on seeking a business
combination with a company or companies operating in or providing services to the insurance industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt">1347 Capital Corp.</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">Page 2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">July 15, 2014</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Forward-Looking Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release includes &ldquo;forward-looking
statements&rdquo; that are not historical facts, and involve risks and uncertainties that could cause actual results to differ
materially from those expected and projected. Words such as &ldquo;expects&rdquo;, &ldquo;believes&rdquo;, &ldquo;anticipates&rdquo;,
&ldquo;intends&rdquo;, &ldquo;estimates&rdquo;, &ldquo;seeks&rdquo; and variations and similar words and expressions are intended
to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but
reflect 1347 Capital management&rsquo;s current beliefs, based on information currently available. A number of factors could cause
actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking
statements. For information identifying important factors that could cause actual results to differ materially from those anticipated
in the forward looking statements, please refer to the Risk Factors section of 1347 Capital's registration statement and preliminary
prospectus for its offering filed with the Securities and Exchange Commission. Except as expressly required by applicable securities
law, the Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of
new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>###</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>25
<FILENAME>v384170_ex99-2.htm
<DESCRIPTION>PRESS RELEASE ANNOUNCING CLOSING OF IPO.
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.2</B></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 82.5pt; width: 255pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1347 CAPITAL CORP. COMPLETES $40 MILLION
INITIAL PUBLIC OFFERING </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Itasca, IL - July 21, 2014 &ndash; 1347
Capital Corp. (NASDAQ: TFSCU) (&ldquo;1347 Capital&rdquo; or the &ldquo;Company&rdquo;), a company formed for the purpose of entering
into a merger, share exchange, asset acquisition or other similar business combination with one or more businesses or entities,
today announced that it has completed its previously announced initial public offering of 4,000,000 units at a price of $10.00
per unit for total gross proceeds of $40 million. Each unit issued consists of one share of common stock, one right to receive
one-tenth of a share of common stock automatically on the consummation of an initial business combination, and one warrant to acquire
one-half of one share of common stock at a price of $11.50 per full share of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital has also granted the representative
of the underwriters a 45-day option to purchase up to 600,000 additional units to cover over-allotments, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The units trade on The NASDAQ Capital Market
(&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;TFSCU.&rdquo; The securities comprising the units will begin separate trading on
October 13, 2014, unless EarlyBirdCapital, Inc. determines that an earlier date is acceptable. Once the securities comprising the
units begin separate trading, the common stock, warrants and rights are expected to be traded on Nasdaq under the symbols &ldquo;TFSC,&rdquo;
&ldquo;TFSCW&rdquo; and &ldquo;TFSCR,&rdquo; respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EarlyBirdCapital, Inc. acted as sole book-running
manager for the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Aegis Capital Corp. acted as co-manager
for the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A registration statement relating to these
securities was declared effective by the Securities and Exchange Commission on July 15, 2014. This offering was made only by means
of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting EarlyBirdCapital, Inc., 275 Madison
Avenue, Suite 1203, New York, New York 10016. Copies of the registration statement can be accessed through the SEC&rsquo;s website
at www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About 1347 Capital Corp.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1347 Capital Corp. is a blank check company
formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses or entities. The Company&rsquo;s efforts to identify a target
business will not be limited to a particular industry or geographic region, although it intends to focus efforts on seeking a business
combination with a company or companies operating in or providing services to the insurance industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">1347 Capital Corp.&#9;</TD>
    <TD STYLE="width: 50%; text-align: right">Page 2</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>July 21, 2014</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Forward-Looking Statements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release includes &ldquo;forward-looking
statements&rdquo; that are not historical facts, and involve risks and uncertainties that could cause actual results to differ
materially from those expected and projected. Words such as &ldquo;expects&rdquo;, &ldquo;believes&rdquo;, &ldquo;anticipates&rdquo;,
&ldquo;intends&rdquo;, &ldquo;estimates&rdquo;, &ldquo;seeks&rdquo; and variations and similar words and expressions are intended
to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but
reflect 1347 Capital management&rsquo;s current beliefs, based on information currently available. A number of factors could cause
actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking
statements. For information identifying important factors that could cause actual results to differ materially from those anticipated
in the forward looking statements, please refer to the Risk Factors section of 1347 Capital's registration statement and prospectus
for its offering filed with the Securities and Exchange Commission. Except as expressly required by applicable securities law,
the Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new
information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>###</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
