Exhibit 10.3

INVESTMENT MANAGEMENT TRUST AGREEMENT

This Agreement is made as of                , 2007 by and between Lumax Acquisition Corp., a Delaware corporation (the “ Company ”), and Continental Stock Transfer & Trust Company, a New York corporation (the “ Trustee ”).

WHEREAS, the Company’s Registration Statement, No. 333-           on Form S-1 (“ Registration Statement ”), for its initial public offering of securities (“ IPO ”) has been declared effective as of              , 2007 by the Securities and Exchange Commission (“ Effective Date ”);

WHEREAS, concurrently with the IPO the initial stockholders are purchasing an aggregate of 1,333,333 warrants of the Company for aggregate consideration of $1,200,000 (the “ Insider Warrants ”); and

WHEREAS, as described in the Company’s Registration Statement, and in accordance with the Company’s Certificate of Incorporation, $_____ of the gross proceeds of the IPO and the Insider Warrants ($______ if the underwriter’s 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’s common stock, par value $0.0001 per share, issued in the IPO as hereinafter provided (the amount to be delivered to the Trustee will be referred to herein as the “ Property; ” the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the “ Public Stockholders, ” and the Public Stockholders and the Company will be referred to together as the “ Beneficiaries ”); and

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;

IT IS AGREED:

1.             Agreements and Covenants of Trustee .  The Trustee hereby agrees and covenants:

(a)           That the recitals above are made a part of this Agreement;

(b)           To hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement, including the terms of Section 11-51-302(6) of the Colorado Revised Statutes, in segregated trust accounts (collectively, the “ Trust Account ” ) established by the Trustee at JPMorgan Chase and Morgan Stanley;

(c)           To manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

(d)           In a timely manner, upon the instruction of the Company, to invest and reinvest the Property in any “ Government Security. ” As used herein, Government Security means any Treasury Bill issued by the United States, having a maturity of one hundred and eighty days or less;

(e)           To collect and receive, when due, all principal and income arising from the Property, which shall become part of the “ Property, ” as such term is used herein;

(f)            To release to the Company from time to time, upon the instruction of the Company, interest and other earnings on the Trust Account, up to maximum aggregate amount of $_____, after giving effect to applicable taxes.

(g)           To notify the Company of all communications received by it with respect to any Property requiring action by the Company;

(h)           To supply any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of the tax returns for the Trust Account;

(i)            To 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;

(j)            To render to the Company, at the addresses specified in Section 5(e) of this Agreement, and to such other person as the Company may instruct, monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust Account; and

(k)           To commence liquidation of the Trust Account only after receipt of and only in accordance with the terms of a letter ( “ Termination Letter ” ), 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, President, Secretary or Chairman of the Board, 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.

2.             Agreements and Covenants of the Company .  The Company hereby agrees and covenants to:

(a)           Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, President, Secretary or Chairman of the Board. In addition, except with respect to its duties under paragraph 1(j) 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;

(b)           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 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’s breach of any provision of this Agreement or 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 “ Indemnified Claim ” ), and the Company shall have no liability for any Indemnified Claim

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to the extent prejudiced by the failure of the Trustee to give notice promptly. The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the prior written consent of the Company with respect to both the selection of counsel and the settlement of any claim, which consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel; and

(c)           Pay the Trustee an initial acceptance fee of $1,000 and an annual fee of $1,200 (it being expressly understood that the Property shall not be used to pay such fee). The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as may be provided in paragraph 2(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such paragraph).

3.             Limitations of Liability .  The Trustee shall have no responsibility or liability to:

(a)           Take any action with respect to the Property, other than as directed in paragraph 1 hereof and the Trustee shall have no liability to any party except for liability arising out of its own gross negligence or willful misconduct;

(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;

(c)           Change the investment of any Property, other than in compliance with paragraph 1(c);

(d)           Refund any depreciation in principal of any Property;

(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;

(f)    &nb