Document:

Exhibit 10.5

 

As of February 10, 2005

 

Services
Acquisition Corp. International

401 East Las Olas Boulevard

Suite 1140

Fort Lauderdale, Florida 33301

 

Broadband Capital
Management LLC

805 Third Avenue

New York, New York 10022

 

Re:                               Initial
Public Offering

 

Gentlemen:

 

The undersigned stockholder, officer and director of
Services Acquisition Corp. International (“Company”), in consideration of
Broadband Capital Management LLC (“Broadband “) 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 11 hereof):

 

1.                                       If
the Company solicits approval of its stockholders of a Business Combination,
the undersigned will vote all Insider Shares owned by her 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 18
months from the effective date (“Effective Date”) of the registration statement
relating to the IPO (or 24 months under the circumstances described in the
prospectus relating to the IPO), the undersigned will take all reasonable
actions within her power to cause the Company to liquidate as soon as
reasonably practicable.  In such event,
the undersigned hereby waives any and all right, title, interest or claim of
any kind in or to any liquidating distributions by the Company, including,
without limitation, any distribution of the Trust Fund (as defined in the
Letter of Intent) as a result of such liquidation with respect to her 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.  The undersigned agrees to
indemnify and hold harmless the Company against any and all loss, liability,
claims, damage and expense whatsoever (including, but not limited to, any and
all legal or other expenses reasonably incurred in investigating, preparing or
defending against any litigation, whether pending or threatened, or any claim
whatsoever) which the Company may become subject as a result of any claim by
any vendor that is owed money by the Company for services rendered or products
sold but only to the extent necessary to ensure that such loss, liability,
claim, damage or expense does not reduce the amount in the Trust Fund (as defined
in the Letter of Intent).

 

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, those opportunities to acquire an operating company the
undersigned reasonably believes are suitable opportunity for the Company, 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 fiduciary 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 Broadband Capital
Management LLC 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
of the undersigned will be entitled to receive and will not accept any
compensation for services rendered to the Company prior to the consummation of
the Business Combination; provided that the undersigned shall be entitled to
reimbursement from the Company for her out-of-pocket expenses incurred in
connection with seeking and consummating a Business Combination.

 

6.                                       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.

 

7.                                       The
undersigned will escrow his Insider Shares for the three year period commencing
on the Effective Date 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 Broadband 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 Broadband 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 authorizes any employer, financial institution, or consumer credit
reporting agency to release to Broadband and its legal representatives or
agents (including any investigative search firm retained by Broadband) any
information they may have about the undersigned’s background and finances (“Information”). 
Neither Broadband 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.

 

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 that provides services selected by the
Company; (ii) “Insiders” shall mean all officers, directors and stockholders of
the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean all
of the shares of Common Stock of the Company owned by an Insider prior to the
IPO; and (iv) “IPO Shares” shall mean the shares of Common Stock issued in the
Company’s IPO.

 

12.                                 The
undersigned hereby agrees that any action, proceeding or claim against the
undersigned

 

 

arising out of or
relating in any way to this Agreement shall be brought and enforced in the
courts of the State of New York or the United States District Court for the
Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive. 
The undersigned hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenience forum.

 

	
   

  	
  NATHANIEL KRAMER

  
	
   

  	
  Print Name of Insider

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
    /s/
  Nathaniel Kramer

  	
   

  
	
   

  	
  Signature

  

 

 

EXHIBIT A

 

Nathaniel Kramer
has been our director since inception. 
Since March 2000, Mr. Kramer has been a principal of Mercantile
Capital Group and Managing Director of the New York office.

 

Mr. Kramer brings
over twenty years of investment experience in both the public and private
capital markets. He started his career with Allen and Company, a private equity
firm, and recently served as a Vice President from 1997 to 2001.  Mr. Kramer has led investments in a wide
range of industries, and is particularly interested in the wireless
infrastructure, data communications, B2B commerce, Internet infrastructure,
telecom technologies/infrastructure and entertainment technologies and services
sectors.  Mr. Kramer serves on the board
of MoveOnIn, Inc., a private company.Exhibit
10.6

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as
of              ,
2005 by and between Services Acquisition Corp. International (the “Company”)
and Continental Stock Transfer & Trust Company (“Trustee”).

 

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

 

WHEREAS, Broadband
Capital Management LLC (“Broadband”) is acting as the representative of the
underwriters in the IPO; and

 

WHEREAS, as described in
the Company’s Registration Statement, and in accordance with the Company’s
Certificate of Incorporation, $36,400,000 of the gross proceeds of the IPO
($41,860,000 if the underwriters over-allotment option is exercised in full)
will be delivered to the Trustee to be deposited and held in a trust account
for the benefit of the Company and the holders of the Company’s common stock,
par value $.001 per share, issued in the IPO as hereinafter provided and in the
event the Units are registered in Colorado, pursuant to Section 11-51-302(6)
of the Colorado Revised Statutes. A copy of the Colorado Statute is attached hereto
and made a part hereof (the amount to be delivered to the Trustee will be
referred to herein as the “Property”; the stockholders for whose benefit the
Trustee shall hold the Property will be referred to as the “Public
Stockholders,” and the Public Stockholders and the Company will be referred to
together as the “Beneficiaries”); and

 

WHEREAS, the Company and
the Trustee desire to enter into this Agreement to set forth the terms and
conditions pursuant to which the Trustee shall hold the Property;

 

IT IS AGREED:

 

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

 

(a)                                  Hold
the Property in trust for the Beneficiaries in accordance with the terms of
this Agreement, including the terms of Section 11-51-302(6) of the Colorado
Statute, in a segregated trust account (“Trust Account”) established by the
Trustee at a branch of JPMorgan Chase NY Bank 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 instruction of the Company, to invest and reinvest
the Property in any “Government Security.” 
As used herein, Government Security means any Treasury Bill issued by
the United States, having a maturity of one hundred and eighty days or less;

 

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

 

(e)                                  Notify
the Company 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;

 

(g)                                 Participate
in any plan or proceeding for protecting or enforcing any right or interest
arising from the Property if, as and when instructed by the Company to do so;

 

(h)                                 Render
to the Company and to Broadband, and to such other person as the Company may
instruct, monthly written statements of the activities of and amounts in the
Trust Account reflecting all receipts and disbursements of the Trust Account;
and

 

 

(i)                                     Commence
liquidation of the Trust Account only after receipt of and only in accordance
with the terms of a letter (“Termination Letter”), in a form substantially
similar to that attached hereto as either Exhibit A or Exhibit B, signed
on behalf of the Company by its President or Chairman of the Board and
Secretary, and complete the liquidation of the Trust Account and distribute the
Property in the Trust Account only as directed in the Termination Letter and
the other documents referred to therein. 
The Trustee understands and agrees that disbursements from the Trust
Account shall be made only pursuant to a duly executed Termination Letter,
together with the other documents referenced herein.  In all cases, the Trustee shall provide
Broadband 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.

 

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

 

(a)                                  Give
all instructions to the Trustee hereunder in writing, signed by the Company’s
President or Chairman of the Board.  In
addition, except with respect to its duties under paragraph 1(i) above, the
Trustee shall be entitled to rely on, and shall be protected in relying on, any
verbal or telephonic advice or instruction which it in good faith believes to
be given by any one of the persons authorized above to give written
instructions, provided that the Company shall promptly confirm such
instructions in writing;

 

(b)                                 Hold
the Trustee harmless and indemnify the Trustee from and against, any and all
expenses, including reasonable counsel fees and disbursements, or loss suffered
by the Trustee in connection with any action, suit or other proceeding brought
against the Trustee involving any claim, or in connection with any claim or
demand which in any way arises out of or relates to this Agreement, the
services of the Trustee hereunder, or the Property or any income earned from
investment of the Property, except for expenses and losses resulting from the
Trustee’s gross negligence or willful misconduct.  Promptly after the receipt by the Trustee of
notice of demand or claim or the commencement of any action, suit or
proceeding, pursuant to which the Trustee intends to seek indemnification under
this paragraph, it shall notify the Company in writing of such claim (hereinafter
referred to as the “Indemnified Claim”). 
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
Company may participate in such action with its own counsel; and

 

(c)                                  Pay
the Trustee an initial acceptance fee of $[1,000] and an annual fee of $[3,000]
(it being expressly understood that the Property shall not be used to pay such
fee).  The Company shall pay the Trustee
the initial acceptance fee and first year’s fee at the consummation of the IPO
and thereafter on the anniversary of the Effective Date.  The Trustee shall refund to the Company the
fee (on a pro rata basis) with respect to any period after the liquidation of
the Trust Fund.  The Company shall not be
responsible for any other fees or charges of the Trustee except as may be
provided in paragraph 2(b) hereof (it being expressly understood that the
Property shall not be used to make any payments to the Trustee under such
paragraph).

 

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

 

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

 

(b)                                 Institute
any proceeding for the collection of any principal and income arising from, or
institute, appear in or defend any proceeding of any kind with respect to, any
of the Property unless and until it shall have received instructions from the
Company given as provided herein to do so and the Company shall have advanced
or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

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

 

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

 

2

 

(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 or willful
misconduct.  The Trustee may rely
conclusively and shall be protected in acting upon any order, notice, demand,
certificate, opinion or advice of counsel (including counsel chosen by the
Trustee), statement, instrument, report or other paper or document (not only as
to its due execution and the validity and effectiveness of its provisions, but
also as to the truth and acceptability of any information therein contained)
which is believed by the Trustee, in good faith, to be genuine and to be signed
or presented by the proper person or persons. 
The Trustee shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this agreement or any of the terms
hereof, unless evidenced by a written instrument delivered to the Trustee
signed by the proper party or parties and, if the duties or rights of the
Trustee are affected, unless it shall give its prior written consent thereto;

 

(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; and

 

(h)                                 Pay
any taxes on behalf of the Trust Account (it being expressly understood that
the Property shall not be used to pay any such taxes and that such taxes, if
any, shall be paid by the Company from funds not held in the Trust Account).

 

4.                                       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.  At such time that the
Company notifies the Trustee that a successor trustee has been appointed by the
Company and has agreed to become subject to the terms of this Agreement, the
Trustee shall transfer the management of the Trust Account to the successor
trustee, including but not limited to the transfer of copies of the reports and
statements relating to the Trust Account, whereupon this Agreement shall
terminate; provided, however, that, in the event that the Company does not
locate a successor trustee within ninety days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the
Property deposited with 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;

 

(b)                                 At
such time that the Trustee has completed the liquidation of the Trust Account
in accordance with the provisions of paragraph 1(i) hereof, and distributed the
Property in accordance with the provisions of the Termination Letter, this
Agreement shall terminate except with respect to Paragraph 2(b); or

 

(c)                                  On
such date after                 ,
2006 when the Trustee deposits the Property with the United States District
Court for the Southern District of New York in the event that, prior to such
date, the Trustee has not received a Termination Letter from the Company
pursuant to paragraph 1(i).

 

5.                                       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.  Upon receipt of written
instructions, the Trustee will confirm such instructions with an Authorized
Individual at an Authorized Telephone Number listed on the attached
Exhibit C.  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 

 

3

 

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.  It may be executed in several
counterparts, each one of which shall constitute an original, and together
shall constitute but one instrument.

 

(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 Broadband.  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 City of New York for purposes of resolving any disputes
hereunder.

 

(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:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Continental Stock Transfer

  	
   

  
	
   

  	
  & Trust Company

  	
   

  
	
   

  	
  17 Battery Place

  	
   

  
	
   

  	
  New York, New York 10004

  	
   

  
	
   

  	
  Attn: Steven G. Nelson

  	
   

  
	
   

  	
  Fax No.: (212) 509-5150

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  If to the Company, to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Services Acquisition Corp. International

  	
   

  
	
   

  	
  401 East Las Olas Boulevard

  	
   

  
	
   

  	
  Suite 1140

  	
   

  
	
   

  	
  Fort Lauderdale, Florida 33301

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attn:                           
  

  	
   

  
	
   

  	
  Fax No.:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  in either case with a
  copy to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Broadband Capital Management LLC

  	
   

  
	
   

  	
  805 Third Avenue

  	
   

  
	
   

  	
  New York, New York 10022

  	
   

  
	
   

  	
  Attn:

  	
   

  
	
   

  	
  Fax No.:

  	
   

  

 

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

 

(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.

 

4

 

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

 

	
   

  	
  CONTINENTAL STOCK TRANSFER

    & TRUST COMPANY, as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
    Name:

  
	
   

  	
   

  	
    Title:

  
	
   

  	
   

  
	
   

  	
  SERVICES ACQUISITION CORP. INTERNATIONAL

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

5

 

EXHIBIT
A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock
Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn:  Steven Nelson

 

Re:                   Trust Account No.                    Termination
Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between Services Acquisition
Corp. International (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of                ,
2005 (“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 [insert date].  The Company shall notify you at least 48
hours in advance of the actual date of the consummation of the Business
Combination (“Consummation Date”).

 

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 on the Consummation Date.

 

On the Consummation Date
(i) counsel for the Company shall deliver to you written notification that (a)
the Business Combination has been consummated and (b) the provisions of Section 11-51-302(6)
and Rule 51-3.4 of the Colorado Statute have been met, 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
that certain deposits held in the Trust Account may not be liquidated by the
Consummation Date without penalty, you will notify the Company of the same and
the Company shall direct you as to whether such funds should remain in the
Trust Account and distributed after the Consummation Date to the Company.  Upon the distribution of all the funds in the
Trust Account pursuant to the terms hereof, the Trust Agreement shall be
terminated.

 

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 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,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Services Acquisition Corp. International

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  

 

A-1

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock
Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn:  Steven Nelson

 

Re:                   Trust Account No.                    Termination
Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between Services Acquisition
Corp. International (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of            
, 2005 (“Trust Agreement”), this is to advise you that the Board of
Directors of the Company has voted to dissolve and liquidate the Trust
Account.  Attached hereto is a copy of
the minutes of the meeting of the Board of Directors of the Company relating
thereto, certified by the Secretary of the Company as true and correct and in
full force and effect.

 

In accordance with the
terms of the Trust Agreement, we hereby (a) certify to you that the provisions
of Section 11-51-302(6) and Rule 51-3.4 of the Colorado Statute have been
met and (b) authorize you, to commence liquidation of the Trust Account.  You will notify the Company and JPMorgan
Chase NY Bank (“Designated Paying Agent”) in writing as to when all of the
funds in the Trust Account will be available for immediate transfer (“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 be
terminated.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  Services Acquisition Corp. International

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  

 

B-1

 

EXHIBIT C

 

	
  AUTHORIZED
  INDIVIDUAL(S)

  FOR TELEPHONE CALL BACK

  	
   

  	
  AUTHORIZED

  TELEPHONE NUMBER(S)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Company:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Services Acquisition Corp. International

  	
   

  	
   

  	
   

  
	
  401 East Las
  Olas Boulevard Suite 1140

  Fort Lauderdale, Florida 33301

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
  [Telephone]

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Trustee:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Continental Stock Transfer & Trust Company

  	
   

  	
   

  	
   

  
	
  17 Battery Place

  	
   

  	
   

  	
   

  
	
  New York, New York 10004

  	
   

  	
   

  	
   

  
	
  Attn:  Steven G. Nelson, Chairman

  	
   

  	
  [Telephone]

  	
   

  

 

C-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]