Document:

STOCK
      ESCROW AND VOTING AGREEMENT

     

    THIS
      STOCK ESCROW AND VOTING AGREEMENT, dated as of                  ,
      2006 (the “Agreement”),
      by
      and among DOUBLOON CORP., a Delaware corporation (the “Company”),
      MAXIM
      GROUP LLC, a New York limited liability company (“Maxim”)
      and AMERICAN
      STOCK TRANSFER & TRUST COMPANY, a New York corporation (the “Escrow
      Agent”).

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated ________, 2006,
      with Maxim, acting as representative of the several underwriters (collectively,
      the “Underwriters”),
      pursuant to which, among other matters, the Underwriters have agreed to purchase
      and offer to the public (the “Offering”)
      10,000,000 units (the “Units”)
      of the
      Company’s securities.  Each Unit consists of one share of the Company’s
      Common Stock, par value 0.00001 per share (“Common
      Stock”),
      and
      one Warrant, each Warrant to purchase one share of Common Stock, all as more
      fully described in the Company’s final Prospectus, dated [               ],
      2006,
      comprising part of the Company’s Registration Statement on Form S-1
      (File No. 333-[______]) under the Securities Act of 1933, as amended,
      declared effective on [                    ],
      2006;

     

    WHEREAS,
      as partial consideration for its services as representative of the Underwriters,
      the Company has agreed to issue to Maxim 100,000 shares of Common Stock and
      up
      to an additional 15,000 shares of Common Stock if the Underwriters’
over-allotment option is exercised in full (collectively, the “Maxim
      Shares”);

     

    WHEREAS,
      Maxim has agreed, as a condition of the issuance of such shares, to deposit
      the
      Maxim Shares, in escrow, and to vote such shares, as hereinafter provided;
      and

    

    WHEREAS,
      the Company and Maxim desire that the Escrow Agent accept the Escrow Shares,
      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 Maxim 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
      of Escrow Shares. 
      On the closing date of the Offering, and on each subsequent closing, if any,
      of
      the sale of Units pursuant to the exercise of the Underwriters’ over-allotment
      option, the Company shall deliver to the Escrow Agent certificates representing
      the Maxim Shares to which Maxim is entitled, to be held and disbursed subject
      to, the terms and conditions of this Agreement. Maxim acknowledges that the
      certificates representing the Maxim Shares will be legended to reflect the
      deposit of such Maxim Shares under this Agreement.

     

    3.           Disbursement
      of the Escrow Shares. 
      The Escrow Agent shall hold the Maxim Shares until the consummation of a
      Business Combination (as such term is defined in the Registration Statement)
      by
      the Company (the “Escrow
      Period”),
      on
      which date it shall, upon written instructions from Maxim, disburse the Maxim
      Shares to Maxim; 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 Maxim Shares. The Escrow Agent shall
      have no further duties hereunder after the disbursement or destruction of the
      Maxim Shares in accordance with this Section 3.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.           Rights
      of Maxim in the Maxim Shares.

     

    4.1           Voting
      Rights as a Stockholder. 
      Maxim shall retain all of its rights as a stockholder of the Company during
      the
      Escrow Period, including, without limitation, the right to vote the Maxim
      Shares. Notwithstanding the foregoing, Maxim hereby agrees that it will vote
      the
      Maxim Shares, (a) in connection with the consideration of a Business
      Combination, in accordance with the majority of the shares of Common Stock
      voted
      by stockholders purchasing shares on the Offering, and (b) in connection with
      the consideration of a plan of dissolution and liquidation of the company,
      in
      favor of such plan.

     

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

     

    4.3           Restrictions
      on Transfer. During
      the Escrow Period, Maxim shall not (a) sell, transfer or otherwise dispose
      of
      any or all of the Maxim Shares, to any entity, or (b) pledge or grant a security
      interest in the Maxim Shares or grant a security interest in its rights under
      this Agreement.

     

    4.4           Waiver
      of Rights Upon Liquidation. Maxim
      hereby waives any and all right, title, interest or claim of any kind in or
      to
      any liquidating distributions by the Company in the event of the dissolution
      and
      liquidation of the Company upon the Company’s failure to timely complete a
      Business Combination with respect to the Maxim Shares.

     

    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
      Maxim Shares 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 Maxim Shares or it may deposit the Maxim Shares with the
      clerk of any appropriate court or it may retain the Maxim Shares 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 Maxim Shares
      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.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5.3           Compensation. 
      The Escrow Agent shall be entitled to reasonable compensation from the Company
      for all services rendered by it hereunder.  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 and agents’ fees and disbursements and all taxes or other
      governmental charges.

     

    5.4           Further
      Assurances. 
      From time to time, on and after the date hereof, the Company and Maxim 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, the Maxim Shares
      held
      hereunder.  If no new escrow agent is so appointed within the sixty (60)
      day period following the giving of such notice of resignation, the Escrow Agent
      may deposit the Maxim Shares 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 Maxim,
      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.

     

    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 New York.

     

    6.2           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.

     

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

     

    6.4           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.

     

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

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    If
      to the
      Company, to:

     

    Doubloon
      Corp.

    c/o
      Pirate Capital LLC

    200
      Connecticut Avenue

    Suite
      400

    Norwalk,
      Connecticut 06854

    Attn:  
      Chief Executive Officer

     

    If
      to
      Maxim, to:

    Maxim
      Group, LLC

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn:   Clifford
      A. Teller, Managing Director

    

    And
      if to
      the Escrow Agent, to:

     

    
      American 
        Stock Transfer & Trust Company 

    

    
      [Insert
        Address]

    

    Attn:  
      Chairman

    

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

     

    Mintz,
      Levin, Cohn, Ferris, Glovsky & Popeo P.C.

    666
      Third
      Avenue, 25th Floor

    New
      York,
      New York 10017

    Attn:  Stephen
      J. Gulotta, Jr., Esq.

    and:

    

    Loeb
      & Loeb, LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn:
      Mitchell S. Nussbaum, Esq.

     

    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.

     

    6.6           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.

     

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

     

    (Remainder
      of page intentionally left blank. Signature pages to
      follow.)

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
      first written above. 

    

    
      	
               

            	
              DOUBLOON
                CORP.

            
	
               

            	
               

            
	
               

            	
               

            
	
               

            	
               By:
                _______________________________

              Thomas
                R. Hudson Jr.

              Chief
                Executive Officer

               

            
	
               

            	 
	
               

            	
               

            
	
               

            	
              MAXIM
                GROUP LLC

               

            
	 	
               By:
                _______________________________

              Name:

              Title:

               

            
	 	
              
                AMERICAN
                  STOCK TRANSFER & TRUST COMPANY

              

               

               

              By: 
                _______________________________

              Name:Title:PROMISSORY
      NOTE

     

    
      	
              $840,000

            	
              ____________,
                2006

            

    

           
      Norwalk,
      Connecticut

    

    Doubloon
      Corp. ("Maker")
      promises to pay to the order of PIRAC I, LLC (the "Payee")
      the
      principal sum of Eight Hundred and Forty Thousand Dollars and No Cents
      ($840,000.00) in lawful money of the United States of America, on the terms
      and
      conditions described below.

    

    1. Principal.
      Subject
      to Section 3, the principal balance of this Note shall be repayable in seventeen
      monthly installments of Forty Six Thousand Six Hundred Sixty Six Dollars and
      Sixty Six Cents ($46,666.66) and a final installment of Forty Six Thousand
      Six
      Hundred and Sixty Six Dollars and Seventy Eight Cents ($46,666.78), commencing
      on ____________ and continuing on the __ day of each succeeding month until
      paid
      in full.

    

    2.
       Interest.
      This
      Note shall bear simple interest at the rate of the lesser of (a) four percent
      (4%) per annum and (b) the interest earned on the amounts deposited in the
      Trust
      Account (as defined herein). Interest payable on this Note shall be calculated
      on the basis of one year of three hundred sixty-five (365) days for the number
      of days elapsed. 

    

    3. Payment.
      Payments of principal and interest under this Note shall be made from the
      interest earned on the amounts deposited in a trust account (the “Trust
      Account”)
      established by Maker in connection with its initial public offering (the
“IPO”)
      as
      described in Maker’s Certificate of Incorporation, as amended, and in the
      Registration Statement on Form S-1 filed in connection with the IPO (the
“Registration
      Statement”).

    

    4. Mandatory
      Prepayment.
      The
      outstanding principal balance of this Note and all accrued and unpaid interest
      thereon shall be paid upon Maker’s consummation of a Business Combination (as
      defined in Maker’s Certificate of Incorporation, as amended).

    

    5. Application
      of Payments.
      All
      payments shall be applied first to payment in full of any costs incurred in
      the
      collection of any sum due under this Note, including, without limitation,
      reasonable attorneys' fees, then to the payment of interest and, finally, to
      the
      reduction of the unpaid principal balance of this Note.

    

    6.
       Events
      of Default.
      The
      following shall constitute Events of Default:

    

       (a)
       Failure
      to Make Required Payments.
      Failure
      by Maker to pay the principal of or accrued interest on this Note within five
      (5) business days following the date when due.

    

    (b) Voluntary
      Bankruptcy, Etc.
      The
      commencement by Maker of a voluntary case under applicable bankruptcy law,
      or
      any other applicable insolvency, reorganization, rehabilitation or other similar
      law, or the consent by it to the appointment of, or taking possession by, a
      receiver, liquidator, assignee, trustee, custodian, sequestrator or other
      similar official of Maker or for any substantial part of its property, or the
      making by it of any assignment for the benefit of creditors, or the failure
      of
      Maker generally to pay its debts as such debts become due, or the taking of
      corporate action by Maker in furtherance of any of the foregoing.

    

       
      (c)
 Involuntary
      Bankruptcy, Etc.
      The
      entry of a decree or order for relief by a court having jurisdiction in the
      premises in respect of Maker in an involuntary case under applicable bankruptcy
      law, or any other applicable insolvency or other similar law, or appointing
      a
      receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
      official of Maker or for any substantial part of its property, or ordering
      the
      winding-up or liquidation of the affairs of Maker, and the continuance of any
      such decree or order unstayed and in effect for a period of 60 consecutive
      days.

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    7. Remedies.

    

    (a)
       Upon
      the
      occurrence of an Event of Default specified in Section 6(a), Payee may, by
      written notice to Maker, declare this Note to be due and payable, whereupon
      the
      unpaid principal amount of this Note, and all other amounts payable hereunder,
      shall become immediately due and payable without presentment, demand, protest
      or
      other notice of any kind, all of which are hereby expressly waived, anything
      contained herein or in the documents evidencing the same to the contrary
      notwithstanding.

    

    (b)
       Upon
      the
      occurrence of an Event of Default specified in Sections 6(b) and 6(c), the
      unpaid principal balance of, and all other sums payable with regard to, this
      Note shall automatically and immediately become due and payable, in all cases
      without any action on the part of Payee.

    

    8. Subordination.
      Notwithstanding anything contained in this Note to the contrary, in the event
      that Payee adopts a plan of voluntary dissolution as provided for in its
      Certificate of Incorporation, as amended, and the Registration Statement,
      payments of outstanding principal and accrued and unpaid interest thereafter
      shall be subordinate in right of payment to payments to be made from the Trust
      Account to purchasers of Maker’s securities in the IPO, up to the amounts set
      forth in the Registration Statement ($97,000,000, or $111,700,000 if the
      underwriters’ over-allotment option is exercised in full).

    

    9.
       Waivers.
      Maker
      and all endorsers and guarantors of, and sureties for, this Note waive
      presentment for payment, demand, notice of dishonor, protest, and notice of
      protest with regard to this Note, all errors, defects and imperfections in
      any
      proceedings instituted by Payee under the terms of this Note, and all benefits
      that might accrue to Maker by virtue of any present or future laws exempting
      any
      property, real or personal, or any part of the proceeds arising from any sale
      of
      any such property, from attachment, levy or sale under execution, or providing
      for any stay of execution, exemption from civil process or extension of time
      for
      payment; and Maker agrees that any real estate that may be levied upon pursuant
      to a judgment obtained by virtue hereof, on any writ of execution issued hereon,
      may be sold upon any such writ in whole or in part in any order desired by
      Payee.

    

    10.
       Unconditional
      Liability.
      Maker
      hereby waives all notices in connection with the delivery, acceptance,
      performance, default or enforcement of the payment of this Note, and agrees
      that
      its liability shall be unconditional, without regard to the liability of any
      other party, and shall not be affected in any manner by any indulgence,
      extension of time, renewal, waiver or modification granted or consented to
      by
      Payee, and consents to any and all extensions of time, renewals, waivers or
      modifications that may be granted by Payee with respect to the payment or other
      provisions of this Note, and agrees that additional makers, endorsers,
      guarantors or sureties may become parties hereto without notice to them or
      affecting their liability hereunder.

    

    11
       Notices.
      Any
      notice called for hereunder shall be deemed properly given if (i) sent by
      certified mail, return receipt requested, (ii) personally delivered, (iii)
      dispatched by any form of private or governmental express mail or delivery
      service providing receipted delivery, (iv) sent by telefacsimile, or (v) sent
      by
      e-mail, to the following addresses or to such other address as either party
      may
      designate by notice in accordance with this Section:

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    If
      to
      Maker:

    

    Doubloon
      Corp.

    c/o
      Pirate Capital LLC

    200
      Connecticut Avenue

    4th
      Floor

    Norwalk,
      Connecticut 06854

    Attention
      of Chief Executive Officer 

    Email
      Address: tom@piratecapitalllc.com

    

    If
      to
      Payee:

    

    PIRAC
      I,
      LLC

    c/o
      Pirate Capital LLC

    200
      Connecticut Avenue

    4th
      Floor

    Norwalk,
      Connecticut 06854

    Attention
      of Member

    Email
      Address: tom@piratecapitalllc.com

    

    Notice
      shall be deemed given on the earlier of actual receipt by the receiving party,
      if sent by certified mail, and (i) three business days after certification
      thereof, (ii) if personally delivered, the date reflected on a signed delivery
      receipt, (iii) if sent by private or governmental express mail or delivery
      service, one (1) business day following tender of delivery or dispatch by
      express mail or delivery service, (iv) if by facsimile, the date shown on a
      telefacsimile transmission confirmation, or (v) if sent by email, the date
      on
      which an e-mail transmission was received by the receiving party's on-line
      access provider.

    

    12.
       Construction.
      This
      Note shall be construed and enforced in accordance with the domestic, internal
      law, but not the law of conflict of laws, of the State of
      Connecticut.

    

    13.
       Severability.
      Any
      provision contained in this Note which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.

    

      IN
      WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this
      Note to be duly executed the day and year first above written.

     

     

    
      	 	 	 
	 	DOUBLOON
              CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Thomas R. Hudson Jr.
	 	Title:
              Chief Executive Officer 

        

    
      
         

      

      
        3

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