Document:

EXHIBIT 10.6

                                                     June 3, 2005

InterAmerican Acquisition Group Inc.
2918 Fifth Avenue South, Suite 209
San Diego, California 92103

Granite Financial Group, Inc.
12220 El Camino Real, Suite 400
San Diego, California 92130

         Re: Initial Public Offering
             -----------------------

Gentlemen:

         InterAmerican Capital Partners II LLC ("IACP II"), a stockholder of
InterAmerican Acquisition Group Inc. ("Company"), in consideration of Granite
Financial Group, Inc. ("Granite") 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 10 hereof):

         1. If the Company solicits approval of its stockholders of a Business
Combination, IACP II will vote all Insider Shares owned by it 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), IACP II will vote all Insider
Shares owned by it in favor of the Company's decision to liquidate. Each of IACP
II and each member or controlling person of IACP II (each a "Control Person")
hereby waives any and all right, title, interest or claim of any kind in or to
any distribution of the Trust Fund (as defined in the Letter of Intent) and any
remaining net assets of the Company as a result of such liquidation with respect
to its Insider Shares ("Claim") and hereby waives any Claim either 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. IACP II 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 Granite that the business
combination is fair to the Company's stockholders from a financial perspective.

         4. Neither IACP II, any Control Person, nor any affiliate ("Affiliate")
of IACP II or any Control Person 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 except in connection with bona fide services to be
rendered to the Company that (i) are expressly approved by a majority of the
Company's disinterested directors and copies of detailed invoices describing the
services rendered are delivered to the Company and the performance thereof is
accurately documented by the undersigned, any member of the family of the
undersigned, nor any Affiliate, (ii) are legitimately required by the Company
and the Company would otherwise contract such services from a third party, and
(iii) all fees and compensation to be paid to IACP II, any Control Person or any
Affiliate are determined on an arm's length basis and in good faith and such
fees and compensation are customarily charged by unrelated third party service
providers of a similar nature. Notwithstanding the foregoing to the contrary,
IACP II shall be entitled to reimbursement from the Company for its
out-of-pocket expenses incurred in connection with seeking and consummating a
Business Combination.

         5. Neither IACP II, any Control Person, nor any Affiliate of IACP II
will be entitled to receive or accept a finder's fee or any other compensation
in the event IACP II, any Control Person or any Affiliate originates a Business
Combination.

         6. IACP II will escrow its 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.

         7. IACP II's Questionnaire furnished to the Company and Granite and
annexed as Exhibit B hereto is true and accurate in all respects. IACP II
represents and warrants that no Control Person:

     (a) is 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) has ever 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) has ever 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.

         8. The undersigned authorizes any employer, financial institution, or
consumer credit reporting agency to release to Granite and its legal
representatives or agents (including any investigative search firm retained by
Granite) any information they may have about the undersigned's background and
finances ("Information"). Neither Granite 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.

         9. This letter agreement shall be governed by and construed and
enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of
the substantive laws of another jurisdiction. The undersigned hereby (i) agrees
that any action, proceeding or claim against him arising out of or relating in
any way to this letter agreement (a "Proceeding") shall be brought and enforced
in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, (ii) waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum and
(iii) irrevocably agrees to appoint Kramer Levin Naftalis & Frankel LLP as agent
for the service of process in the State of New York to receive, for the
undersigned and on his behalf, service of process in any Proceeding. If for any
reason such agent is unable to act as such, the undersigned will promptly notify
the Company and Granite and appoint a substitute agent acceptable to each of the
Company and Granite within 30 days and nothing in this letter will affect the
right of either party to serve process in any other manner permitted by law.

         10. 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; (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.

                                           InterAmerican Capital Partners II LLC
                                           -------------------------------------
                                           Print Name of Insider

                                       By: /s/ William C. Morro
                                           -------------------------------------
                                           Name:  William C. Morro
                                           Title: Authorized SignatoryExhibit 10.7

                      INVESTMENT MANAGEMENT TRUST AGREEMENT

                  This Agreement is made as of _____________, 2005 by and
between InterAmerican Acquisition Group Inc. (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, Granite Financial Group Inc. ("Granite") is acting as
the representative of the underwriters in the IPO; and

                  WHEREAS, as described in the Registration Statement, and in
accordance with the Company's Certificate of Incorporation, $81,450,000 of the
gross proceeds of the IPO ($94,005,000 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 $.0001 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 and Granite 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 and/or Granite to do so;

                  (h) Render to the Company and to Granite, 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 or Assistant 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.

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

                                       2

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. 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;

                  (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

                                       3

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 that arises
due to any actions or omissions to act by any party after such deposit;

                  (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 _____________, 2007 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

                                       4

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 conflicts of law 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.

                  (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 Granite. 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, Borough of
Manhattan, 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: _____________
                           Fax No.: (212) 509-5150

                  if to the Company, to:

                                       5

                           InterAmerican Acquisition Group Inc.
                           2918 Fifth Avenue South, Suite 209
                           San Diego, California 92103
                           Attn: William C. Morro, Chief Executive Officer
                           Fax No.: (619) 298-3537

                  in either case with a copy to:

                           Granite Financial Group, Inc.
                           12220 El Camino Real, Suite 400
                           Diego, California 92130
                           Attn: Stefan Siegel, Managing Director
                           Fax No.: (858) 509-8808

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

                  (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.

                  (h) Each of the Company and the Trustee hereby acknowledge
that Granite is a third party beneficiary of this Agreement.

                                       6

                  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:

                                            INTERAMERICAN ACQUISITION GROUP INC.

                                            By: ____________________________
                                                 Name: William C. Morro
                                                 Title: Chief Executive Officer

                                       7

                                                                       EXHIBIT A

                             [LETTERHEAD OF COMPANY]

                                  [INSERT DATE]

Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:  ______________

                  Re:      Trust Account No. ___-             Termination Letter

Gentlemen:

                  Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between InterAmerican Acquisition Group Inc. ("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.

                                       8

                                            Very truly yours,

                                            INTERAMERICAN ACQUISITION GROUP INC.

                                            By:________________________________
                                                 William C. Morro, Chairman

                                            By:________________________________
                                                 Richard M. Wolfson, Secretary

cc: Granite Financial Group, Inc.

                                       9

                                                                       EXHIBIT B

                                          [LETTERHEAD OF COMPANY]

                                                     [INSERT DATE]
Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:

                  Re:      Trust Account No. ___-       Termination Letter

Gentlemen:

                  Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between InterAmerican Acquisition Group, Inc. ("Company") and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of ___________,
2005 ("Trust Agreement"), this is to advise you that the Company has been unable
to effect a Business Combination with a Target Company within the time frame
specified in the Company's prospectus relating to its IPO.

                  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,

                                            INTERAMERICAN ACQUISITION GROUP INC.

                                            By:________________________________
                                                 William C. Morro, Chairman

                                            By:________________________________
                                                 Richard M. Wolfson, Secretary

cc: Granite Financial Group, Inc.

                                       10

                                                EXHIBIT C

AUTHORIZED INDIVIDUAL(S)                             AUTHORIZED
FOR TELEPHONE CALL BACK                              TELEPHONE NUMBER(S)

COMPANY:

InterAmercan Acquisition Group Inc.
2918 Fifth Avenue South, Suite 209
San Diego, California 92103
Attn:  William C. Morro, Chief Executive Officer     (619) 298-9883

TRUSTEE:

Continental Stock Transfer
  & Trust Company
17 Battery Place
New York, New York 10004
Attn:  _________________                             (212) 845-3200

                                       11

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