Document:

Unassociated Document

     

    
      INVESTMENT
        MANAGEMENT TRUST AGREEMENT

       

      This
        Agreement is made as of _______________, 2008 by and between Corporate
        Acquirers, Inc. (the “Company”),
        whose
        principal office is located at 126 East 56th
        Street,
        New York, New York 10022, and American Stock Transfer & Trust Company
        (“Trustee”), located at 59 Maiden Lane, Plaza Level, New York, New York
        10038.

       

      WHEREAS,
        the Company’s Registration Statement on Form S-1, File No. 333-149037
        (“Registration
        Statement”),
        for
        its initial public offering of securities (“IPO”)
        has
        been declared effective on ____________, 2008 by the Securities and Exchange
        Commission (“Effective
        Date”);
        and

       

      WHEREAS,
        the Company has completed a private placement of 3,000,000 Warrants (the
        “Private
        Warrants”)
        prior
        to the completion of the IPO for a purchase price of $3,000,000;
        and

       

      WHEREAS,
        Deutsche Bank Securities Inc. (“Deutsche
        Bank”
or
        the
“Representative”)
        and
        Pali Capital, Inc. (“Pali”)
        are
        acting as underwriters in the IPO (the “Underwriters”),
        with
        Deutsche Bank acting as the representative of the Underwriters; and

        

      WHEREAS,
        as described in the Company’s Registration Statement, in accordance with the
        Company’s Amended and Restated Certificate of Incorporation, $98,250,000
        of the
        net proceeds of the IPO and the sale of the Private Warrants ($112,650,000
        if
        the
        over-allotment option (the “Over-allotment
        Option”)
        granted to the Underwriters 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, the holders of the common stock, par value $.0001 per share
        (“Common
        Stock”)
        included in the units of the Company’s securities issued in the IPO (the
“Units”),
        and
        the Underwriters. The amount to be delivered to the Trustee will be referred
        to
        herein as the “Property”
or
        the
“Base
        Deposit”,
        the
        stockholders for whose benefit the Trustee shall hold the Property will be
        referred to as the “Public
        Stockholders,”
and
        the Public Stockholders, the Company and the Underwriters will be referred
        to
        together as the “Beneficiaries”;
        and

       

      WHEREAS,
        a portion of the Property consists of $3,000,000 (or $3,450,000 if
        the
        Over-allotment Option is exercised in full) attributable to the Underwriters’
deferred discount (the “Deferred
        Discount”)
        which
        the Underwriters have agreed to deposit in the Trust Account (as defined
        below);
        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.

       

      NOW,
        THEREFORE, in consideration of the foregoing and the mutual covenants and
        agreements herein contained, the parties hereto agree as follows:

       

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

       

      (a)
           Hold the Property in trust for the Beneficiaries in accordance with
        the terms of this Agreement in a segregated trust account (the “Trust
        Account”)
        established by the Trustee with American Stock Transfer and Trust Company
        and at
        a brokerage institution selected by the Trustee;

        

      (b)
           Manage, supervise and administer the Trust Account subject to the
        terms and conditions set forth herein;

       

      (c)
           In
        a
        timely manner, upon the written instruction of the Company, to invest and
        reinvest the Property in any “Government Security” or in money market funds
        selected by the Company meeting the conditions specified in Rule 2a-7
        promulgated under the Investment Company Act of 1940, as amended, as determined
        by the Company. 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;
“money
        market funds” means any open ended investment company selected by the Company
        and registered under the Investment Company Act of 1940 that holds itself
        out as
        a money market fund meeting the conditions of paragraph (c)(2), (c)(3) and
        (c)(4) under Rule 2a-7 promulgated under the Investment Company Act of 1940,
        as
        amended, as determined by the Company;

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      (d)
           Collect and receive, when due, all principal and income arising
        from the Property;

       

      (e)   
        Promptly notify the Company and the Representative of all communications
        received by it with respect to any Property requiring action by the
        Company;

       

      (f)
           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 or the Company;

       

      (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 and/or the Representative to do so;

       

      (h)
           Render to the Company, to the Representative 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;

       

      (i)
           If there is any income or other tax obligation relating to the
        income from the Property in the Trust Account or if there is any franchise
        or
        other tax obligation to which the Company is subject, then, from time to
        time,
        at the written instruction of the Company, the Trustee shall promptly to
        the
        extent there is not sufficient cash in the Trust Account to pay such tax
        obligation, liquidate such assets held in the Trust Account as shall be
        designated by the Company in writing; and

      

      (j) Commence
        liquidation of the Trust Account and make payments and distributions as directed
        by the Company only after and promptly 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
        hereto,
        signed on behalf of the Company by its Chief Executive Officer, and complete
        the
        liquidation of and make payments and distributions from 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
        24-month anniversary of the effective date of the Registration Statement
        (“Termination
        Date”), 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 stockholders of record on the Termination Date.
        In
        all cases, the Trustee shall provide the Representative with a copy of any
        Termination Letters and/or any other correspondence that it receives with
        respect to any proposed withdrawal from the Trust Account promptly after
        it
        receives same. The provisions of this Section 1(j) may not be modified,
        amended or deleted under any circumstances.

       

      2.
 
        Limited
        Distributions of Interest Income on Property.

       

      (a)
            If
        there
        is any income or other tax obligation relating to the income from the Property
        in the Trust Account, or if there is any franchise or other tax obligation
        to
        which the Company is subject, then, at the written instruction of the Company,
        the Trustee shall disburse to the Company or the Internal Revenue Service
        or
        other appropriate state or taxing authority by wire transfer or check (as
        directed by the Company in its instruction letter), out of the Property in
        the
        Trust Account, the amount indicated by the Company as required to pay income,
        franchise or other taxes.

      

      (b) In
        addition to any distribution pursuant to Section 2(a) above, upon written
        request from the Company containing certification that such distribution
        pursuant to this Section 2(b) shall only be used to fund the working capital
        requirements of the Company and/or the expenses incurred in connection with
        the
        Company’s dissolution and liquidation, in each case as described in the
        Registration Statement, the Trustee shall distribute to the Company an amount
        up
        to $2,400,000 of the interest income earned and collected on the Property
        in the
        Trust Account net of taxes payable, through the last day of the month
        immediately preceding the date of receipt of the Company’s written request;
        provided that (i) at no time will the Trust Account contain an amount less
        than
        $9.83 per unit sold in the IPO and (ii) no distribution from the Trust Account
        shall be made if such distribution would cause the Trust Account to fall 
below such amount.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (c) It
        is
        acknowledged and agreed by the parties hereto that with respect to all requests
        for distributions to or on behalf of the Company pursuant to this Section
        2, the
        Trustee’s only responsibility is to follow the instruction of the
        Company.

       

      3. Limited
        Distributions of Property.
         

       

      (a) Except
        as
        provided in Section 1(j), Section 2 or this Section 3, no other distributions
        from the Trust Account shall be permitted.

      

      (b) It
        is
        acknowledged and agreed by the parties hereto that with respect to all requests
        for distributions to or on behalf of the Company pursuant to this Section
        3, the
        Trustee’s only responsibility is to follow the instruction of the
        Company.

      

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

       

      (a)
            To
        provide all instructions to the Trustee hereunder in writing, signed by the
        Company’s Chief Executive Officer. In addition, except with respect to its
        duties under paragraphs 1(i) and 1(j), 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
        and/or the Representative shall promptly confirm such instructions in
        writing;

      

      (b)
           Subject
        to the provisions of Section 6 hereof, to 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 gross negligence,
        willful misconduct or bad faith. 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”).
        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 at its own expense;

       

      (c)
            Pay
        the
        Trustee an initial acceptance fee, an annual fee and a transaction processing
        fee for each disbursement made pursuant to this Agreement as set forth on
        Schedule A hereto, which fees shall be subject to modification by the parties
        from time to time. It is expressly understood that the Property shall not
        be
        used to pay such fees and further agreed that said transaction processing
        fees
        shall be deducted by the Trustee from the disbursements made to the Company
        pursuant to Section 2(b) hereof. 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 annual fee (on a pro rata basis) with respect to any period
        after the liquidation of the Trust Account. The Company shall not be responsible
        for any other fees or charges of the Trustee except as set forth in this
        Section
        4(c) and as may be provided in Section 4(b) hereof (it being expressly
        understood that the Property shall not be used to make any payments to the
        Trustee under such Sections);

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (d)
            That,
        in
        the event the Company consummates a Business Combination and/or the Trust
        Account is liquidated in accordance with Section 1(j) hereof, an independent
        party designated by the Representative shall act as the inspector of election
        to
        certify the results of the stockholder vote. As used in this Agreement, the
        term
“Business
        Combination”
means
        the acquisition by the Company, through merger, capital stock exchange, asset
        or
        stock acquisition of, or similar business combination with, one or more
        operating businesses, as more fully described in the prospectus forming a
        part
        of the Registration Statement;

       

      (e)
            That
        the
        Termination Letter referenced in Section 1(j) hereof shall require the Company’s
        Chief Executive Officer to certify to either of the following (as applicable)
        that (A) prior to the Termination Date,
        the
        Company has consummated a Business Combination, the terms of which are
        consistent with the requirements set forth in the Registration
        Statement and (B) the Board of Directors of the Company has approved the
        Business Combination. A copy of such board approval and the definitive agreement
        relating to the Business Combination so approved shall be attached as an
        exhibit
        to the Officer’s Certificate.

       

      (f)
         In
        connection with any vote of the Company’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 tabulating
        stockholder votes verifying the vote of the Company’s stockholders regarding
        such Business Combination; and

        

            
        (g) Within five business days after the Underwriters’ Over-allotment Option (or
        any unexercised portion thereof) expires or is exercised in full, to provide
        the
        Trustee notice in writing (with a copy to the Underwriters) of the total
        amount
        of the Deferred Discount, which shall in no event be less than
        $3,000,000.

       

      5.
 
        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 Sections 1, 2 and 3 hereof and the Trustee shall have no liability
        to any party except for liability arising out of its own gross negligence,
        willful misconduct or bad faith;

       

      (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 written 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 Section 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)
           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, willful misconduct or bad faith. 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;

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

        

      (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, unless an officer of the Trustee has actual knowledge thereof,
        written notice of such event is sent to the Trustee or as otherwise required
        under Section 1(j) hereof;

       

      (h)
           Prepare, execute and file tax reports, income or other tax returns,
        pay any taxes on behalf of the Trust Account and pay any taxes with respect
        to
        income and activities relating to the Trust Account, regardless of whether
        such
        tax is payable by the Trust Account or the Company (including but not limited
        to
        income tax obligations), (it being expressly understood that the Trustee’s sole
        obligation with respect to taxes shall be to issue the checks with respect
        thereto provided for by Section 2(a) hereof. If there is any income or other
        tax
        obligation relating to the Trust Account or the Property in the Trust Account,
        as determined from time to time by the Company and regardless of whether
        such
        tax is payable by the Company or the Trust, at the written instruction of
        the
        Company, the Trustee shall make funds available in cash from the Property
        in the
        Trust Account an amount specified by the Company as owing to the applicable
        taxing authority, which amount shall be paid directly to the Company by
        electronic funds transfer, account debit or other method of payment, and
        the
        Company shall forward such payment to the taxing authority; and

      

      (i) Verify
        calculations, qualify or otherwise approve Company requests for distributions
        pursuant to Section 1(i), 2(a) or 2(b) above.

       

      6.
 
        No
        Right of Set-Off.
        The
        Trustee waives any right of set-off or any right, title, interest or claim
        of
        any kind that the Trustee may have against the Property held in the Trust
        Account. In the event the Trustee has a claim against the Company under this
        Agreement, including, without limitation, under Section 4(b), the Trustee
        will
        pursue such claim solely against the Company and not against the Property
        held
        in the Trust Account.

      

      7.
        Termination.
        This
        Agreement shall terminate as follows:

       

      (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 continue to
        act
        in accordance with the terms of this Agreement. At such time 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 the Company does not locate
        a
        successor trustee within ninety days of receipt of the resignation notice
        from
        the Trustee, the Trustee may, but shall not be obligated to, submit an
        application to have the Property deposited 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 that arises due to any actions or
        omissions to act by any party after such deposit; or

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

        

      (b)
           At such time that the Trustee has completed the liquidation of the
        Trust Account in accordance with the provisions of Section 1(j) hereof, and
        distributed the Property in accordance with the provisions of the Termination
        Letter, this Agreement shall terminate except with respect to Section
        4(b).

      

      8.
 
        Miscellaneous.

       

      (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 account numbers or other identifying numbers of a
        beneficiary, beneficiary’s bank or intermediary bank, rather than names. The
        Trustee shall not be liable for any loss, liability or expense resulting
        from
        any error in an account number or other identifying number, provided it has
        accurately transmitted the numbers provided.

       

      (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
        conflict of laws principles that would result in the application of the
        substantive laws of another jurisdiction. It may be executed in several
        counterparts, each one of which shall constitute an original, and together
        shall
        constitute but one instrument. Facsimile signatures shall constitute original
        signatures for all purposes of this Agreement.

       

      (c)
           This Agreement contains the entire agreement and understanding of
        the parties hereto with respect to the subject matter hereof. 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
        the
        Representative, who, along with each other Underwriter, the parties
        specifically agree, are and shall be third party beneficiaries for purposes
        of this Agreement and shall be entitled to enforce the terms of this Agreement
        to the same extent as if they were parties hereto; and provided further,
        any
        amendment to Section 1(j) shall require the vote or consent of holders of
        95% of
        the shares of Common Stock sold in the IPO (the “Public
        Stockholders”),
        it
        being the specific intention of the parties hereto that each Public Stockholder
        is and shall be a third-party beneficiary of this Section 8(c) with the same
        right and power to enforce this Section 8(c) as either of the parties hereto.
        For purposes of this Section 8(c), the “consent of 95% of the Public
        Stockholders” shall mean receipt by the Trustee of a certificate from an entity
        certifying that (i) such entity regularly engages in the business of serving
        as
        inspector of elections for companies whose securities are publicly traded,
        and
        (ii) either (a) 95% of the Public Stockholders of record as of the record
        date
        established in accordance with Section 213(a) of the Delaware General
        Corporation Law, as amended (the “DGCL”),
        have
        voted in favor of such amendment or modification or (b) 95% of the Public
        Stockholders of record as of the record date established in accordance with
        Section 213(b) of the DGCL has delivered to such entity a signed writing
        approving such amendment or modification. As to any claim, cross-claim or
        counterclaim in any way relating to this Agreement, each party waives the
        right
        to trial by jury.   

       

      (d)
           The parties hereto consent to the jurisdiction and venue of any
        state or federal court located in the State and County of New York for purposes
        of resolving any disputes hereunder. The parties hereto irrevocably submit
        to
        such jurisdiction, which jurisdiction shall be exclusive, and hereby waive
        any
        objection to such exclusive jurisdiction and accept such venue, and waive
        any
        objection that such courts represent an inconvenient forum.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      (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:

       

      if
        to the
        Trustee, to:

      

      American
        Stock Transfer & Trust Company

      59
        Maiden
        Lane

      Plaza
        Level

      New
        York,
        New York 10038

      Attn:
        

      Fax
        No.:

       

      if
        to the
        Company, to:

      

      Corporate
        Acquirers, Inc.

      126
        East
        56th
        Street

      New
        York,
        New York 10022

      Attn:
          G. Richard Thoman

      Chairman,
        CEO and President  

      Fax
        No.:
        ( ) 

      

      with
        a
        copy to:

      

      Ellenoff
        Grossman & Schole LLP

      150
        East
        42nd
        Street

      New
        York,
        New York 10017-6503

      Attn:
        Douglas S. Ellenoff, Esq.

      Fax
        No.:
        (212) 370-7889

       

      and,
        in
        either case with a copy to: 

      

      Deutsche
        Bank Securities Inc.

      60
        Wall
        Street

      New
        York,
        NY 10005

        Attn:
          Equity Capital Markets – Syndicate
          Desk

      

      

      Pali
        Capital, Inc.

      650
        Fifth
        Avenue

      New
        York,
        NY 10022

      Attn:
        Mike Powell, Managing Director

      

      Lowenstein
        Sandler PC

      65
        Livingston Avenue

      Roseland,
        NJ 07068

      Attn:
        Steven Skolnick, Esq.

      Fax
        No.:
        (973) 597-2477

      

      (f)
           This Agreement may not be assigned by the Trustee without the prior
        written consent of the Company and the Underwriters.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      (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. The Trustee
        hereby consents to the inclusion of Continental Stock Transfer & Trust
        Company in the Registration Statement and other materials relating to the
        IPO.

      

      

      

      

      

      

      

      

      IN
        WITNESS WHEREOF, the parties have duly executed this Investment Management
        Trust
        Agreement as of the date first written above.

       

       

      CORPORATE
        ACQUIRERS, INC.

       

      
        
          	 	 	 	 	 
	By: 	 	 	 	 
	 	
                  

                  Name:
                    G. Richard Thoman

                  Title:
                    Chairman, President and Chief Executive Officer

                	 	 	
                

        

      

      
         

        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

      [Letterhead
        of Company]

       

      [Insert
        date]

       

      American
        Stock Transfer

      &
        Trust Company

      59
        Maiden
        Lane

      Plaza
        Level

      New
        York,
        NY 10038

      

      

      

       Attn:
        [            
]

       

      Re:
           Trust
        Account No. [ ] Termination Letter

       

      Gentlemen:

       

      Pursuant
        to Section 1(j) of the Investment Management Trust Agreement between
Corporate
        Acquirers, Inc.
        (“Company”) and American Stock Transfer & Trust Company (“Trustee”), dated
        as of _________, 2008 (“Trust Agreement”), this is to advise you that the
        Company has entered into an agreement (“Business Agreement”) with
        __________________ (“Target Business”) to consummate a business combination with
        Target Business (“Business Combination”) on or about [_______]. The Company
        shall notify you at least 48 hours in advance of the actual date of the
        consummation of the Business Combination (“Consummation Date”). Capitalized
        words used herein and not otherwise defined shall have the meanings ascribed
        to
        them in the Trust Agreement.

       

      In
        accordance with paragraph 2 of Article 6 of the Amended and Restated Certificate
        of Incorporation of the Company, the Business Combination has been approved
        by
        the stockholders of the Company and by the Public Stockholders holding a
        majority of the IPO Shares cast at the meeting relating to the Business
        Combination, and Public Stockholders holding less than 30% of the IPO Shares
        have voted against the Business Combination and given notice of exercise
        of
        their conversion rights described in paragraph 3 of Article 6 of the Amended
        and
        Restated Certificate of Incorporation of the Company. Pursuant to Section
        4(g)
        of the Trust Agreement, we are providing you with [an affidavit] [a certificate]
        of __________, which verifies the vote of the Company’s stockholders in
        connection with the Business Combination. In accordance with the terms of
        the
        Trust Agreement, we hereby authorize you to commence liquidation of the Trust
        Account to the effect that, on the Consummation Date, all of funds held in
        the
        Trust Account will be immediately available for transfer to the account or
        accounts that the Company shall direct in writing on the Consummation Date,
        which accounts may include the accounts of Public Stockholders exercising
        their
        conversion rights or the accounts of Public Stockholders whose securities
        have
        been purchased by the Company.

      

      On
        the
        Consummation Date (i) counsel for the Company shall deliver to you written
        notification that the Business Combination has been consummated or will,
        concurrently with your transfer of funds to the accounts as directed by the
        Company, be consummated, and (ii) the Company shall deliver to you written
        instructions with respect to the transfer of the funds held in the Trust
        Account
        (“Instruction Letter”). 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
        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 or
        be
        distributed immediately and the penalty incurred. Upon
        the
        distribution of all the funds in the Trust Account pursuant to the terms
        hereof,
        the Trust Agreement shall be terminated.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      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, 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.

       

       

      
        	 	 	 
	
              	Very truly yours,
	 	 
	 	CORPORATE
                ACQUIRERS, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Name:
                G. Richard Thoman
	 	Title:
                Chairman, President and Chief Executive
                Officer

      

       

      cc.
        Deutsche Bank Securities Inc.

      Pali
        Capital, Inc.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        B

       

      [Letterhead
        of Company]

       

      [Insert
        date]

       

      American
        Stock Transfer

      &
        Trust Company

      59
        Maiden
        Lane

      Plaza
        Level

      New
        York,
        NY 10038

       

      Attn:

       

      Re:
          Trust
        Account No. [ ] Termination Letter

       

      Gentlemen:

       

      Pursuant
        to paragraph 1(j) of the Investment Management Trust Agreement between
Corporate
        Acquirers, Inc. (“Company”)
        and American Stock Transfer & Trust Company (“Trustee”), dated as of
        ___________, 2008 (“Trust Agreement”), this is to advise you that the
        Company has been unable to effect a Business Combination (as defined in the
        Trust Agreement) with a target company within the applicable time frame
        specified in the Amended and Restated Certificate of Incorporation of the
        Company, as described in the Company’s prospectus relating to its initial public
        offering.

       

      In
        accordance with the terms of the Trust Agreement, we hereby authorize you
        to
        commence liquidation of the Trust Account as promptly as practicable to the
        stockholders of record on the applicable Termination Date (as defined in
        the
        Trust Agreement). The Company has appointed [ ] to serve as its Designated
        Paying Agent; accordingly, you will notify the Company and the “Designated
        Paying Agent” in writing as to when all of the funds in the Trust Account will
        be available for immediate transfer (the “Transfer Date”). The Designated Paying
        Agent shall thereafter notify you as to the account or accounts of the
        Designated Paying Agent that the funds in the Trust Account should be
        transferred to [ ] on the Transfer Date so that the Designated Paying Agent
        may
        commence distribution of such funds in accordance with the Company’s
        instructions. You shall have no obligation to oversee the Designated Paying
        Agent’s distribution of the funds. Upon the payment to the Designated Paying
        Agent of all the funds in the Trust Account, the Trust Agreement shall terminate
        in accordance with the terms thereof. 

      
        
          	 	 	 
	
                	Very truly yours,
	 	 
	 	CORPORATE
                  ACQUIRERS, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
                  
Name:
                  G. Richard Thoman
	 	Title:
                  Chairman, President and Chief Executive
                  Officer

        

         

         

      

      cc:
        Deutsche Bank Securities Inc.

      Pali
        Capital, Inc.

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

      SCHEDULE
        A

      

      Schedule
        of fees pursuant to Section 4(c) of Investment Management Trust
        Agreement

      between
        Corporate Acquirers, Inc. and 

      American
        Stock Transfer & Trust Company

       

      

      
        	
                Fee
                  Item

              	
                Time
                  and method of payment 

              	
                Amount

              
	
                Initial
                  acceptance fee

              	
                Initial
                  closing of IPO by wire transfer 

              	
                [$1
                  ]

              
	
                Annual
                  fee

              	
                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

              	
                [$1
                  ]

              
	
                Transaction
                  processing fee for disbursements to Company under Sections 2(a)
                  and
                  2(b)

              	
                Deduction
                  by Trustee from disbursement made to Company under Section
                  2(b)

              	
                [$1
                  ]

              

      

       

      Dated:

      
        
          	 	 	 
	 	 
	 	CORPORATE
                  ACQUIRERS, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
                  
Name:
                  G. Richard Thoman
	 	Title:
                  Chairman, President and Chief Executive
                  Officer

        

         

         

         

        
          
            
              	 	 	 
	 	 
	 	AMERICAN
                      STOCK
                      TRANSFER & TRUST COMPANY
	 
 	 
 	 
 
	 	By:  	 
	 	
                      
Name:

	 	Title:
                      

            

             

            
              
                
                

              

              
                12Unassociated Document

     

    
      SECURITIES
        ESCROW AGREEMENT

       

      SECURITIES
        ESCROW AGREEMENT, dated as of [ ], 2008 (the “Agreement”)
        by and
        among Corporate Acquirers, Inc., a Delaware corporation (the “Company”),
        G.
        Richard Thoman, an individual with an address at 126 East 56th
        Street,
        New York, New York 10022 (“Thoman”),
        Stephen R. Wilson, an individual with an address at 126 East 56th
        Street,
        New York, New York 10022 (“Wilson”),
        Patrick J. Martin, an individual with an address at 126 East 56th
        Street,
        New York, New York 10022 (“Martin”),
        James
        P. Schadt, an individual with an address at 126 East 56th
        Street,
        New York, New York 10022 (“Schadt”),
        Michael Miron, an individual with an address at 126 East 56th
        Street,
        New York, New York 10022 (“Miron”)
        and
        Corporate Acquirers, LLC, a Delaware limited liability company (“Corporate
        Acquirers, LLC”,
        together with Thoman, Wilson, Martin, Schadt and Miron, collectively, the
        “Initial
        Stockholders”)
        and
        American Stock Transfer & Trust Company, a New York corporation (the
“Escrow
        Agent”).

       

      WHEREAS,
        the Company has entered into an Underwriting Agreement, dated [ ], 2008
        (“Underwriting
        Agreement”)
        with
Deutsche
        Bank Securities Inc. (“Deutsche
        Bank” or
        the
“Representative”),
        acting as representative of the underwriters, pursuant
        to which, among other matters, Deutsche Bank and Pali
        Capital, Inc. (“Pali”
        and
        together with Deutsche Bank, hereinafter referred to as the “Underwriters”),  have
        agreed to purchase 10,000,000 units (not including the Underwriters’
over-allotment option) (“Units”)
        of the
        Company. Each Unit consists of one share of the Company’s common stock, par
        value $.0001 per share (the “Common
        Stock”),
        and
        one warrant (“Warrant”),
        to
        purchase one share of Common Stock, all as more fully described in the Company’s
        definitive prospectus, dated [ ], 2008 (“Prospectus”)
        comprising part of the Company’s Registration Statement on Form S-1 (File No.
        333-149037) under the Securities Act of 1933, as amended (the “Registration
        Statement”),
        declared effective on [ ], 2008 (the “Effective
        Date”);

       

      WHEREAS,
        the Company has entered into a Subscription Agreement with Thoman, dated
        as of
        September 27, 2007, pursuant to which Thoman purchased 1,625,000 shares of
        Common Stock from the Company;

       

      WHEREAS,
        the Company has entered into a Subscription Agreement with Wilson, dated
        as of
        September 27, 2007, pursuant to which Wilson purchased 875,000 shares of
        Common
        Stock from the Company;

       

      WHEREAS,
        the Company has entered into a Subscription Agreement with Martin, dated
        as of
        September 27, 2007, pursuant to which Martin purchased 375,000 shares of
        Common
        Stock from the Company;

       

      WHEREAS,
        the Company has entered into a Subscription Agreement with Schadt, dated
        as of
        September 27, 2007, pursuant to which Schadt purchased 250,000 shares of
        Common
        Stock from the Company;

       

      WHEREAS,
        on November 14, 2007, the Board of Directors of the Company authorized a
        reverse
        stock split of 0.08 shares of Common Stock for each outstanding share of
        Common
        Stock. 

       

      WHEREAS,
        Thoman has entered into a Contribution Agreement with Corporate Acquirers,
        LLC,
        dated as of November 28, 2007, pursuant to which Thoman contributed 1,495,000
        shares of Common Stock to Corporate Acquirers, LLC in exchange for his
        membership interests therein;

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      WHEREAS,
        Wilson has entered into a Contribution Agreement with Corporate Acquirers,
        LLC,
        dated as of November 28, 2007, pursuant to which Wilson contributed 805,000
        shares of Common Stock to Corporate Acquirers, LLC in exchange for his
        membership interests therein;

       

      WHEREAS,
        Martin has entered into a Contribution Agreement with Corporate Acquirers,
        LLC,
        dated as of November 28, 2007, pursuant to which Martin contributed 345,000
        shares of Common Stock to Corporate Acquirers, LLC in exchange for his
        membership interests therein;

       

      WHEREAS,
        Schadt has entered into a Contribution Agreement with Corporate Acquirers,
        LLC,
        dated as of November 28, 2007, pursuant to which Schadt contributed 230,000
        shares of Common Stock to Corporate Acquirers, LLC in exchange for his
        membership interests therein;

       

      WHEREAS,
        Corporate Acquirers, LLC agreed, as a condition of the Underwriters’ obligation
        to purchase the Units pursuant to the Underwriting Agreement and to offer
        them
        to the public, to deposit all of its shares of Common Stock (collectively
        the
“Escrow
        Shares”),
        in
        escrow as hereinafter provided; 

       

      WHEREAS,
        the Company has entered into a Subscription Agreement with Corporate Acquirers,
        LLC (the “Initial
        Warrantholder”,
        and
        together with the Initial Stockholders, the “Initial
        Holders”),
        dated
        as of February 3, 2008 (the “Subscription
        Agreement”),
        pursuant to which the Initial Warrantholder has agreed to purchase 3,000,000
        warrants (the “Private
        Warrants”)
        in a
        private placement transaction;

       

      WHEREAS,
        the Initial Warrantholder has agreed to deposit the Private Warrants
        (collectively with the Escrow Shares, the “Escrow
        Securities”),
        in
        escrow as hereinafter provided; and

       

      WHEREAS,
        the Company and the Initial Holders desire that the Escrow Agent accept the
        Escrow Securities, in escrow, to be held and disbursed as hereinafter
        provided.

       

      NOW,
        THEREFORE, in consideration of the premises and the mutual covenants,
        representations and warranties contained herein and intending to be legally
        bound hereby, the parties hereto agree as follows:

       

      1. Appointment
        of Escrow Agent.
        The
        Company and the Initial Holders hereby appoint the Escrow Agent to act in
        accordance with and subject to the terms of this Agreement and the Escrow
        Agent
        hereby accepts such appointment and agrees to act in accordance with and
        subject
        to such terms.

       

      2. Deposit
        and Forfeiture of the Escrow Securities.
        

       

      2.1 On
        or
        before the Effective Date, the Initial Holders shall deliver to the Escrow
        Agent
        certificates representing the Escrow Securities, to be held and disbursed
        subject to the terms and conditions of this Agreement. Each Initial Holder
        acknowledges and agrees that the certificates representing the Escrow Securities
        are legended to reflect the deposit of such Escrow Securities under this
        Agreement.

       

      2.2 If
        the
        over-allotment option is not exercised in full by the Underwriters, then
        promptly following the earlier to occur of the expiration or termination
        of the
        over-allotment option, the Company will cause the Initial Stockholders to
        forfeit shares of Common Stock (up to 375,000 shares of Common Stock) in
        an
        aggregate amount sufficient to cause the Initial Stockholders to own a number
        of
        shares of Common Stock equal to 20% of the outstanding Common Stock after
        giving
        effect to the offering of the Units and the exercise, if any, of the
        over-allotment option. For the avoidance of doubt, if the Underwriters exercise
        the over-allotment option in full, the Initial Stockholders shall not be
        required to forfeit any shares of Common Stock.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      3. Disbursement
        of the Escrow Securities.
        

       

      3.1 The
        Escrow Agent shall hold the Escrow Securities until termination of their
        respective Escrow Period (as defined below). In the case of the Escrow Shares,
        the “Escrow
        Period”
shall
        be the period beginning on the Effective Date and ending on the date that
        is the
        one year anniversary following the initial consummation of a merger, capital
        stock exchange, asset or stock acquisition, exchangeable share transaction,
        joint venture or other similar business combination with one or more domestic
        or
        international operating businesses (the “Business
        Combination”),
        or
        earlier in the event the Company were to consummate a transaction after the
        consummation of the initial Business Combination that results in all of the
        stockholders having the right to exchange their Common Stock for cash,
        securities or other property. In the case of the Private Warrants, the
“Escrow
        Period”
shall
        be the period beginning on the Effective Date and ending on the day after
        the
        date of the consummation of the initial Business Combination. On the termination
        date of the applicable Escrow Period, the Escrow Agent shall, upon written
        instructions from each Initial Holder, disburse the applicable Escrow Securities
        to such Initial Holder; provided, however, that if the Escrow Agent is notified
        by the Company pursuant to Section 6.7 hereof that the Company is being
        liquidated at any time during the Escrow Period, then the Escrow Agent shall
        promptly destroy the certificates representing the Escrow Securities; provided,
        however, that if the Underwriters do not exercise their over-allotment option
        to
        purchase an additional 1,500,000 Units of the Company (as described in the
        Prospectus), the Initial Stockholders agree that the Escrow Agent shall return
        to the Company for cancellation, at no cost, the number of Escrow Shares
        held by
        each Initial Stockholder equal to the product obtained by multiplying (i)
        the
        number of Escrow Shares held by such Initial Stockholder on the Effective
        Date
        by (ii) a fraction, (x) the numerator of which is 375,000, and (y) the
        denominator of which is 2,875,000, by (iii) an amount equal to (x) the
        difference between 1,500,000 and the number of units purchased by the
        Underwriters upon the exercise of the over-allotment option, divided by (y)
        1,500,000; provided further, that if, after the Company consummates a Business
        Combination,
        it (or
        the surviving entity) subsequently consummates a liquidation, merger, stock
        exchange or other similar transaction which results in all of its stockholders
        of such entity having the right to exchange their shares of Common Stock for
        cash, securities or other property, then the Escrow Agent will, upon receipt
        of
        a notice executed by the Chief Executive Officer or Chief Financial Officer
        of
        the Company, in form reasonably acceptable to the Escrow Agent, certifying
        that
        such transaction is being consummated, release the Escrow Securities to the
        Initial Holders so that they can similarly participate. The Escrow Agent
        shall
        have no further duties hereunder after the disbursement or destruction of
        the
        Escrow Securities in accordance with this Section 3.

       

      4. Rights
        of Initial Holders in Escrow Securities.

       

      4.1 Voting
        Rights as an Initial Stockholder.
        Subject
        to the terms of the Insider Letters described in Section 4.4 hereof, and
        except
        as herein provided, the Initial Stockholders shall retain all of their rights
        as
        stockholders of the Company during the Escrow Period, including, without
        limitation, the right to vote the shares of Common Stock then owned by
        them.

       

      4.2 Dividends
        and Other Distributions in Respect of the Escrow Securities.
        During
        the Escrow Period, all dividends payable in cash with respect to the Escrow
        Securities shall be paid to the Initial Stockholders, but all dividends payable
        in stock or other non-cash property (“Non-Cash
        Dividends”)
        shall
        be delivered to the Escrow Agent to hold in accordance with the terms hereof.
        As
        used herein, the term “Escrow Securities” shall be deemed to include the
        Non-Cash Dividends distributed thereon, if any.

       

      4.3 Restrictions
        on Transfer.
        During
        the applicable Escrow Period, no offer, sale, contract to sell, pledge,
        transfer, hedge or other disposition may be made of any or all of the Escrow
        Securities except (i) upon the dissolution and liquidation of Corporate
        Acquirers, LLC and the distribution of assets to its member; (ii) by gift
        to a
        immediate family member of an Initial Holder or member of Corporate Acquirers,
        LLC or to a trust or other entity, the beneficiary of which is an immediate
        family member of an Initial Holder or a member of the immediate family of
        a
        member of Corporate Acquirers, LLC, (iii) by virtue of the laws of descent
        and
        distribution upon death of any Initial Holder or any member of Corporate
        Acquirers, LLC, (iv) pursuant to a qualified domestic relations order, (v)
        in
        the event of the Company’s liquidation prior to the completion of its initial
        Business Combination, or (vi) in the event of the Company’s consummation of a
        liquidation, merger, stock exchange or other similar transaction which results
        in all of the Company’s stockholders having the right to exchange their shares
        of Common Stock for cash, securities or other property subsequent to the
        Company’s consummation of an initial Business Combination; provided, however,
        that such permitted transfers may be implemented only upon the respective
        transferee’s written agreement to be bound by the terms and conditions of this
        Agreement and of the Insider Letters signed by the Initial Holders transferring
        the Escrow Securities. During the Escrow Period, the Initial Holders shall
        not
        pledge or grant a security interest in the Escrow Securities or grant a security
        interest in their rights under this Agreement.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      4.4 Insider
        Letters.
        Each of
        the Initial Holders has executed a letter agreement with the Underwriters
        and
        the Company, and which is filed as an exhibit to the Registration Statement
        (the
“Insider
        Letters”),
        respecting the rights and obligations of such Initial Holder in certain events,
        including, but not limited to, the liquidation of the Company. 

       

      5. Concerning
        the Escrow Agent.

       

      5.1 Good
        Faith Reliance.
        The
        Escrow Agent shall not be liable for any action taken or omitted by it in
        good
        faith and in the exercise of its own best judgment, and may rely conclusively
        and shall be protected in acting upon any order, notice, demand, certificate,
        opinion or advice of counsel (including counsel chosen by the Escrow Agent),
        statement, instrument, report or other paper or document (not only as to
        its due
        execution and the validity and effectiveness of its provisions, but also
        as to
        the truth and acceptability of any information therein contained) which is
        believed by the Escrow Agent to be genuine and to be signed or presented
        by the
        proper person or persons. The Escrow Agent shall not be bound by any notice
        or
        demand, or any waiver, modification, termination or rescission of this Agreement
        unless evidenced by a writing delivered to the Escrow Agent signed by the
        proper
        party or parties and, if the duties or rights of the Escrow Agent are affected,
        unless it shall have given its prior written consent thereto.

       

      5.2 Indemnification.
        The
        Escrow Agent shall be indemnified and held harmless by the Company from and
        against any expenses, including counsel fees and disbursements, or loss suffered
        by the Escrow Agent in connection with any action, suit or other proceeding
        involving any claim which in any way, directly or indirectly, arises out
        of or
        relates to this Agreement, the services of the Escrow Agent hereunder, or
        the
        Escrow Securities 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 Securities or it may deposit the Escrow Securities with the clerk
        of
        any appropriate court or it may retain the Escrow Securities 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
        Securities are to be disbursed and delivered. The provisions of this Section
        5.2
        shall survive in the event the Escrow Agent resigns or is discharged pursuant
        to
        Sections 5.5 or 5.6 below.

       

      5.3 Compensation.
        The
        Escrow Agent shall be entitled to reasonable compensation from the Company
        for
        all services rendered by it hereunder, as set forth on Exhibit B hereto.
        The Escrow Agent shall also be entitled to reimbursement from the Company
        for
        all expenses paid or incurred by it in the administration of its duties
        hereunder including, but not limited to, all legal counsel, advisors’ and
        agents’ fees and disbursements and all taxes or other governmental
        charges.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      5.4 Further
        Assurances.
        From
        time to time, on and after the date hereof, the Company and the Initial Holders
        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.

       

      5.5 Resignation.
        The
        Escrow Agent may resign at any time and be discharged from its duties as
        escrow
        agent hereunder by its giving the other parties hereto written notice and
        such
        resignation shall become effective as hereinafter provided. Such resignation
        shall become effective at such time that the Escrow Agent shall turn over
        to a
        successor escrow agent appointed by the Company and approved by the
        Underwriters, which approval will not be unreasonably withheld, conditioned
        or
        delayed, the Escrow Securities 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 Securities with any
        court
        it reasonably deems appropriate.

       

      5.6 Discharge
        of Escrow Agent.
        The
        Escrow Agent shall resign and be discharged from its duties as escrow agent
        hereunder if so requested in writing at any time by the Company and a majority
        of the Initial Holders, jointly, provided, however, that such resignation
        shall
        become effective only upon acceptance of appointment by a successor escrow
        agent
        as provided in Section 5.5.

       

      5.7 Liability.
        Notwithstanding anything herein to the contrary, the Escrow Agent shall not
        be
        relieved from liability hereunder for its own gross negligence or its own
        willful misconduct.

       

      5.8 Waiver.
        The
        Escrow Agent hereby waives any and all right, title, interest or claim of
        any
        kind (“Claim”)
        in or
        to any distribution of the Trust Account (as defined in that certain Investment
        Management Trust Agreement 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.

       

      6. Miscellaneous.

       

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

       

      6.2 Third
        Party Beneficiaries.
        Each of
        the Initial Holders hereby acknowledges that the Underwriters, including,
        without limitation, the Representative, are third party beneficiaries of
        this
        Agreement and shall be entitled to enforce the terms of this Agreement to
        the
        same extent as if they were parties hereto.

       

      6.3 Entire
        Agreement.
        This
        Agreement contains the entire agreement of the parties hereto with respect
        to
        the subject matter hereof and, except as expressly provided herein, may not
        be
        changed or modified except by an instrument in writing signed by the party
        to be
        charged and by the Representative.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      6.4 Headings.
        The
        headings contained in this Agreement are for reference purposes only and
        shall
        not affect in any way the meaning or interpretation thereof.

       

      6.5 Binding
        Effect.
        This
        Agreement shall be binding upon and inure to the benefit of the respective
        parties hereto and their legal representatives, successors and
        assigns.

       

      6.6 Notices.
        Any
        notice or other communication required or which may be given hereunder shall
        be
        in writing and either be delivered personally or by private national courier
        service, or be mailed, certified or registered mail, return receipt requested,
        postage prepaid, and shall be deemed given when so delivered personally or,
        if
        sent by private national courier service, on the next business day after
        delivery to the courier, or, if mailed, two business days after the date
        of
        mailing, as follows:

       

      If
        to the
        Company, to:

      

      Corporate
        Acquirers, Inc.

      126
        East
        56th
        Street

      New
        York,
        NY 10022

      Attn:
        G.
        Richard Thoman, Chairman, Chief Executive Officer and President 

       

      with
        a
        copy to:

       

      Ellenoff,
        Grossman & Schole LLP

      150
        East
        42nd
        Street

      New
        York,
        New York 10017

      Attn:
        Douglas S. Ellenoff, Esq.

      Fax
        No.:
        (212) 370-7889

       

      If
        to an
        Initial Holder, to the address set forth in Exhibit A.

       

      and
        if to
        the Escrow Agent, to:

      

      American
        Stock Transfer & Trust Company

      59
        Maiden
        Lane, Plaza Level

      New
        York,
        New York 10038

      Attn:
        [          ]

      Fax
        No.:
        [          ]

       

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

      

      Lowenstein
        Sandler PC

      65
        Livingston Avenue

      Roseland,
        NJ 07068

      Attn:
        Steven Skolnick, Esq.

      Fax
        No.:
        (973) 597-2477 

      Deutsche
        Bank Securities Inc.

      60
        Wall
        Street

      New
        York,
        New York 10005
Attn: Equity Capital Markets - Syndicate Desk

      

      Pali
        Capital, Inc.

      650
        Fifth
        Avenue, 6th
        floor

      New
        York,
        New York 10019

      Attn:
        Mike Powell, Managing Director

      Fax
        No.:
        (212) 259-2093

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      The
        parties may change the persons and addresses to which the notices or other
        communications are to be sent by giving written notice to any such change
        in the
        manner provided herein for giving notice.

       

      6.7 Liquidation
        of Company.
        The
        Company shall give the Escrow Agent written notification of the liquidation
        and
        dissolution of the Company in the event that the Company fails to consummate
        a
        Business Combination within the time period(s) specified in the
        Prospectus.

       

      6.8 Counterparts.
        This
        Agreement may be executed in several counterparts each one of which shall
        constitute an original and may be delivered by facsimile transmission and
        together shall constitute one instrument.

       

      [remainder
        of page intentionally left blank]

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

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

       

      CORPORATE
        ACQUIRERS, INC.

       

      

       

      By:
        _________________________________________________

      G.
        Richard Thoman, Chairman, Chief Executive Officer and President

       

      

       

      AMERICAN
        STOCK TRANSFER & TRUST COMPANY

       

      By:________________________________

      Name:

      Title:

       

       

       

      
        	
              	INITIAL HOLDERS:
	 	
                 

                 

                 

                
                  
G.
                  Richard Thoman

              
	 	
                 

                 

                
                  
Stephen
                  R. Wilson

              
	 	
                 

                 

                
                  
Patrick
                  J. Martin

              
	 	
                 

                 

                
                  
James
                  P. Schadt

              
	 	
                 

                 

                
                  
Michael
                  Miron

              
	 	
                 

                CORPORATE ACQUIRERS, LLC

              
	
              	
                 

                BY:

              	
                 

              
	 	 	
                

                Name:
                  G. Richard Thoman

                Title:
                  Managing Member

              

      

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

      

      
        	
                 

                Investor

              	
                Investors
                  Address

                and
                  Facsimile Number

              
	 	 
	
                Corporate
                  Acquirers, LLC 

                Number
                  of Shares: _2,875,000___

                Number
                  of Warrants: 3,000,000

              	
                126
                  East 56th
                  Street

                New
                  York, NY 10022

                Attn:
                  Stephen R. Wilson. 

                Facsimile
                  Number: (
                  )
                  

              
	
                 

                G.
                  Richard Thoman

                 

                Number
                  of Shares: 1,437,500

                Number
                  of Warrants: ____0_____

              	
                 

                126
                  East 56th
                  Street

                New
                  York, NY 10022

                (212)
                  813-0323 

                 

              
	
                 

                Stephen
                  R. Wilson

                 

                Number
                  of Shares: _526,125____

                Number
                  of Warrants: _0________

              	
                 

                126
                  East 56th
                  Street

                New
                  York, NY 10022

                (212)
                  813-0323 

              
	
                 

                Patrick
                  J. Martin

                 

                Number
                  of Shares: _336,375___

                Number
                  of Warrants: ___0______

              	
                 

                126
                  East 56th
                  Street

                New
                  York, NY 10022

                (212)
                  813-0323 

              
	
                 

                James
                  P. Schadt

                 

                Number
                  of Shares: _287,500____

                Number
                  of Warrants: _____0____

              	
                 

                126
                  East 56th
                  Street

                New
                  York, NY 10022

                (212)
                  813-0323 

              
	
                 

                Michael
                  Miron

                 

                Number
                  of Shares: _287,500____

                Number
                  of Warrants: _____0____

              	
                 

                126
                  East 56th
                  Street

                New
                  York, NY 10022

                (212)
                  813-0323 

              

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        B

       

       Escrow
        Agent Fees

       

      $[1,800]
        annually for acting agent escrow fee.

       

      Initial
        acceptance fee and first year agent fee to be paid at closing.

       

      
        
          
          

        

        
          10

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