Document:

Unassociated Document

    April
      4,
      2007

    

    

    Stoneleigh
      Partners Acquisition Corp.

    c/o
      PLM
      International Inc.

    555
      Fifth
      Avenue

    New
      York,
      New York 10017

    

    

    HCFP/Brenner
      Securities LLC

    888
      Seventh Avenue, 9th
      Floor

    New
      York,
      New York 10106

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned securityholder and director of Stoneleigh Partners Acquisition
      Corp.
      (“Company”), in consideration of HCFP/Brenner Securities LLC (“Brenner”)
      entering into a letter of intent (“Letter of Intent”) to underwrite an initial
      public offering of the securities of the Company (“IPO”) and embarking on the
      IPO process, hereby agrees as follows (certain capitalized terms used herein
      are
      defined in paragraph 13 hereof):

    

    1.
      If the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Insider Shares owned by him in accordance with the
      majority of the votes cast by the holders of the IPO Shares.

    

    2.
      In the
      event that the Company fails to consummate a Business Combination within 24
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO, the undersigned will (i) cause the Trust Fund to be
      liquidated and distributed to the holders of IPO Shares and (ii) take all
      reasonable actions within his power to cause the Company to liquidate as soon
      as
      reasonably practicable. The undersigned hereby waives any and all right, title,
      interest or claim of any kind in or to any distribution of the Trust Fund and
      any remaining net assets of the Company as a result of such liquidation with
      respect to his Insider Shares (“Claim”) and hereby waives any Claim the
      undersigned may have in the future as a result of, or arising out of, any
      contracts or agreements with the Company and will not seek recourse against
      the
      Trust Fund for any reason whatsoever.

    

    3.
      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 an operating business, until the earlier of the
      consummation by the Company of a Business Combination, the liquidation of the
      Company or until such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

    

    4.
      The
      undersigned acknowledges and agrees that the Company will not consummate any
      Business Combination which involves a company which is affiliated with any
      of
      the Insiders unless the Company obtains an opinion from an independent
      investment banking firm reasonably acceptable to Brenner that the business
      combination is fair to the Company's stockholders from a financial
      perspective.

    

    5.
      Neither the undersigned, any member of the family of the undersigned, nor any
      affiliate (“Affiliate”) of the undersigned will be entitled to receive and will
      not accept any compensation for services rendered to the Company prior to or
      in
      connection with the consummation of the Business Combination.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6.
      Neither the undersigned, any member of the family of the undersigned, nor any
      Affiliate of the undersigned will be entitled to receive or accept a finder's
      fee or any other compensation in the event the undersigned, any member of the
      family of the undersigned or any Affiliate of the undersigned originates a
      Business Combination.

    

    7.
      The
      undersigned will escrow all of his Insider Shares acquired prior to the IPO
      until one year after the consummation by the Company of a Business Combination
      subject 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.

    

    8.
      The
      undersigned agrees to be a member of the Board of Directors of the Company
      until
      the earlier of the consummation by the Company of a Business Combination or
      the
      liquidation of the Company. The undersigned's biographical information furnished
      to the Company and Brenner and attached hereto as Exhibit A is true and accurate
      in all respects, does not omit any material information with respect to the
      undersigned's background 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's Questionnaire furnished to the Company
      and Brenner and annexed as Exhibit B hereto is true and accurate in all
      respects. The undersigned represents and warrants that:

    

    (a)
      he is
      not subject to, or a respondent in, any legal action for, any injunction,
      cease-and-desist order or order or stipulation to desist or refrain from any
      act
      or practice relating to the offering of securities in any
      jurisdiction;

    

    (b)
      he
      has never been convicted of or pleaded guilty to any crime (i) involving any
      fraud or (ii) relating to any financial transaction or handling of funds of
      another person, or (iii) pertaining to any dealings in any securities and he
      is
      not currently a defendant in any such criminal proceeding; and

    

    (c)
      he
      has never been suspended or expelled from membership in any securities or
      commodities exchange or association or had a securities or commodities license
      or registration denied, suspended or revoked.

    

    9.
      The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as a member of
      the
      Board of Directors of the Company.

    

    10.
      The
      undersigned hereby waives his right to exercise conversion rights with respect
      to any shares of the Company's common stock owned or to be owned by the
      undersigned, directly or indirectly, and agrees that he will not seek conversion
      with respect to such shares in connection with any vote to approve a Business
      Combination.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    11.
      The
      undersigned hereby agrees to not propose, or vote in favor of, an amendment
      to
      the Company's Certificate of Incorporation to extend the period of time in
      which
      the Company must consummate a Business Combination prior to its liquidation.
      Should such a proposal be put before stockholders other than through actions
      by
      the undersigned, the undersigned hereby agrees to vote against such proposal.
      This paragraph may not be modified or amended under any
      circumstances.

    

    12.
      The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Brenner and its legal representatives or agents
      (including any investigative search firm retained by Brenner) any information
      they may have about the undersigned's background and finances (“Information”).
      Neither Brenner nor its agents shall be violating the undersigned's right of
      privacy in any manner in requesting and obtaining the Information and the
      undersigned hereby releases them from liability for any damage whatsoever in
      that connection.

    

    13.
      As
      used herein, (i) a “Business Combination” shall mean the acquisition, through a
      stock exchange, asset acquisition or other similar business combination, of
      an
      operating business selected by the Company; (ii) “Insiders” shall mean all
      officers, directors, senior advisors and securityholders of the Company
      immediately prior to the IPO; (iii) “Insider Shares” shall mean all of the
      shares of Common Stock of the Company acquired by an Insider prior to the IPO
      or
      privately from the Company simultaneously with the IPO; (iv) “IPO Shares” shall
      mean the shares of Common Stock issued in the Company's IPO; and (v) “Trust
      Fund” shall mean that portion of net proceeds of the IPO placed in trust for the
      benefit of the holders of the shares of common stock issued in the Company’s IPO
      as contemplated by the Company’s prospectus relating to the IPO.

    

    

    

     

    Jonathan
      Davidson

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
      A

    

    Jonathan
      Davidson has
      been
      a member of our Board of Directors since April 2007 and served as our Senior
      Advisor from January 2007 to April 2007. Since November 2004, Mr. Davidson
      has
      been a Director of Centinela Freeman Holdings, Inc. In July 2003, Mr. Davidson
      co-founded Westridge Capital LLC and has served as a Managing Member since
      inception. From September 2003 to September 2004, Mr. Davidson also served
      as a
      Vice President of PLM International. From 1996 to July 2003, Mr. Davidson served
      as a Managing Director of Digital Coast Partners (now known as Montgomery &
Co.) where he managed the Business and Consumer Services Group. From 1994 to
      1996, Mr. Davidson was a founder and the Chief Financial Officer of Screenz,
      L.L.C., the developer of ScreenzNet, a private online service. From 1987 to
      1994, Mr. Davidson served as a Vice President of Chemical Securities (now known
      as JPMorgan Chase), where he provided corporate finance and merger and
      acquisition advisory services. Mr. Davidson received a B.A. and an M.B.A. from
      the University of California at Los Angeles.Unassociated Document

    April
      4,
      2007

    

    Stoneleigh
      Partners Acquisition Corp.

    555
      Fifth
      Avenue

    New
      York,
      New York 10017

    

    HCFP/Brenner
      Securities LLC

    888
      Seventh Avenue, 9th
      Floor

    New
      York,
      New York 10106

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned senior advisor and securityholder of Stoneleigh Partners Acquisition
      Corp. (the “Company”), in consideration of HCFP/Brenner Securities LLC’s
      (“Brenner”) willingness to underwrite an initial public offering of the
      securities of the Company (the “IPO”) and embark on the IPO process, hereby
      agrees as follows (certain capitalized terms used herein are defined in
      paragraph 11 hereof):

    

    1. The
      undersigned waives any and all right, title, interest or claim of any kind
      in or
      to any distribution of the Trust Fund and any remaining net assets of the
      Company as a result of such liquidation with respect to his Insider Shares
      (each
      a “Claim”) and hereby waives any Claim he may have in the future as a result of,
      or arising out of, any contracts or agreements with the Company and will not
      seek recourse against the Trust Fund for any reason whatsoever. 

    

    2. If
      the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Insider Shares owned by him in accordance with the
      majority of the votes cast by the holders of the IPO Shares. 

     

    3. Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      (“Affiliate”) of the undersigned will be entitled to receive and will not accept
      any compensation or fees of any kind, including finder’s and consulting fees,
      prior to, or for services they rendered in order to effectuate, the Business
      Combination. The undersigned shall also be entitled to reimbursement from the
      Company for their out-of-pocket expenses incurred in connection with seeking
      and
      consummating a Business Combination.

     

    4. Neither
      the undersigned, any member of the family of the undersigned, or any Affiliate
      of the undersigned will be entitled to receive or accept a finder’s fee or any
      other compensation in the event the undersigned, any member of the family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination.

    

    5. The
      undersigned will escrow all of his Insider Shares acquired prior to the IPO
      until one year after the consummation by the Company of a Business Combination
      subject 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.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6. The
      undersigned agrees to be senior advisor of the Company until the earlier of
      the
      consummation by the Company of a Business Combination or the distribution of
      the
      Trust Fund. The undersigned’s biographical information furnished to the Company
      and Brenner and attached hereto as Exhibit A is true and accurate in all
      respects, does not omit any material information with respect to the
      undersigned’s background and contains all of the information required to be
      disclosed pursuant to Section 401 of Regulation S-K, promulgated under the
      Securities Act of 1933. The undersigned’s Questionnaire furnished to the Company
      and Brenner and annexed as Exhibit B hereto is true and accurate in all
      respects. The undersigned represents and warrants that:

    

    (a) he
      is not
      subject to or a respondent in any legal action for, any injunction,
      cease-and-desist order or order or stipulation to desist or refrain from any
      act
      or practice relating to the offering of securities in any
      jurisdiction;

    

    (b) he
      has
      never been convicted of or pleaded guilty to any crime (i) involving any fraud
      or (ii) relating to any financial transaction or handling of funds of another
      person, or (iii) pertaining to any dealings in any securities and he is not
      currently a defendant in any such criminal proceeding; and

    

    (c) he
      has
      never been suspended or expelled from membership in any securities or
      commodities exchange or association or had a securities or commodities license
      or registration denied, suspended or revoked.

    

    7. The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement and to serve as senior advisor
      to the Company.

    

    8. The
      undersigned hereby waives his right to exercise conversion rights with respect
      to any shares of the Company's common stock owned or to be owned by the
      undersigned, directly or indirectly, and agrees that he will not seek conversion
      with respect to such shares in connection with any vote to approve a Business
      Combination.

    

    9. The
      undersigned hereby agrees to not propose, or vote in favor of, an amendment
      to
      the Company's Certificate of Incorporation to extend the period of time in
      which
      the Company must consummate a Business Combination prior to its liquidation.
      Should such a proposal be put before stockholders other than through actions
      by
      the undersigned, the undersigned hereby agrees to vote against such proposal.
      This paragraph may not be modified or amended under any
      circumstances.

    

    10. The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Brenner and its legal representatives or agents
      (including any investigative search firm retained by Brenner) any information
      they may have about the undersigned’s background and finances (“Information”).
      Neither Brenner nor its agents shall be violating my right of privacy in any
      manner in requesting and obtaining the Information and the undersigned hereby
      releases them from liability for any damage whatsoever in that connection.
      Brenner shall only use such Information for the limited purpose of reviewing
      the
      history and background of the undersigned in connection with his position as
      senior advisor or securityholder of the Company and shall keep such Information
      confidential and shall use its best efforts to cause any of its employees and
      other authorized persons, who have access to such Information, to observe the
      same restrictions described herein.

    

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    11. As
      used
      herein, (i) a “Business Combination” shall mean an acquisition by merger,
      capital stock exchange, asset or stock acquisition, reorganization or otherwise,
      of an operating business selected by the Company; (ii) “Insiders” shall mean all
      officers, directors, senior advisors and securityholders of the Company
      immediately prior to the IPO; (iii) “Insider Shares” shall mean all of the
      shares of Common Stock of the Company acquired by an Insider prior to the IPO
      or
      privately from the Company simultaneously with the IPO; and (iv) “Trust Fund”
shall mean that portion of the net proceeds of the IPO placed in trust for
      the
      benefit of the holders of the shares of common stock issued in the Company’s IPO
      as contemplated by the Company's prospectus relating to the IPO.

    

    

     

    Brian
      Kaufman

    

    

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    Brian
      Kaufman has
      been
      our Senior Advisor since January 2007. Since November 2004, Mr. Kaufman has
      been
      a Director of Centinela Freeman Holdings, Inc., an owner of three general acute
      care hospitals in Los Angeles. In July 2003, Mr. Kaufman co-founded Westridge
      Capital LLC and has served as a Managing Member since inception. Westridge
      is a
      private equity firm specializing in investments in companies that have
      significant tangible asset bases. From September 2003 to September 2004, Mr.
      Kaufman also served as a Vice President of PLM International. From February
      2000
      to July 2003, Mr. Kaufman served as a Managing Director of Digital Coast
      Partners (now known as Montgomery & Co.), a boutique investment banking firm
      where he managed activities in both the Middle Market and Media Groups. From
      1998 to 2000, Mr. Kaufman served as a principal of Imperial Capital LLC, a
      boutique investment banking firm, where Mr. Kaufman worked in both investment
      banking and the firm’s private investments. From 1994 to 1998, Mr. Kaufman was a
      co-founder and principal of Kirkland Messina LLC, a boutique merchant bank
      targeting leveraged buy-outs of middle market companies. From 1992 to 1994,
      Mr.
      Kaufman was an associate at the law firm of Brobeck, Phleger & Harrison.
      From 1989 to 1992, Mr. Kaufman attended law school at Georgetown University
      Law
      Center. From 1986 to 1989, Mr. Kaufman was at Drexel Burnham Lambert
      Incorporated, where he provided corporate finance and merger and acquisition
      advisory services to financial institutions. Mr. Kaufman received a B.B.A.
      degree from the University of Notre Dame, with highest honors, and a J.D. degree
      from Georgetown University Law Center, cum laude.

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