Document:

July 6, 2006

Churchill Ventures Ltd. 

50 Revolutionary Road 

Scarborough, New York 10510 

Deutsche Bank Securities Inc. 

60 Wall Street, NYC60-1015 

New York, NY 10005 

          Re:    INITIAL PUBLIC OFFERING

Gentlemen:

          The undersigned stockholder and member of the advisory board of Churchill Ventures Ltd., a Delaware corporation (the “Company”), in
consideration of Deutsche Bank Securities Inc. (“Deutsche Bank”) entering into a letter of intent (the “Letter of Intent”) to underwrite
an initial public offering (the “IPO”) of the Company’s units (the “Units”), each composed of one share of the Company’s common stock, par value $.001 per share (the “Common Stock”), and one
warrant which is exercisable for one share of Common Stock (a “Warrant”) 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 shares of the Company’s common stock owned by him in accordance with the majority
of the votes cast by the holders of the IPO Shares.  The undersigned hereby waives any and all rights to convert his Insider Shares in connection with a Business Combination. If the Company solicits approval of its stockholders for dissolution and a
plan of distribution of assets, the undersigned will vote all shares of common stock owned by him in favor of such plan. 

          2.     In the event that the Company fails to consummate a Business Combination within (i) 18 months from the effective date (“Effective Date”) of the registration statement relating to the IPO (the “Registration Statement”) or (ii) 24 months after the Effective Date, if a letter of intent, agreement
in principle or definitive agreement has been executed with respect to a Business Combination within 18 months after the Effective Date, but the Business Combination has not been consummated within such 18 month period (the date of the first such
failure to occur, the “Transaction Failure Date”), the undersigned will take all reasonable actions within his or its power to (i) cause the Trust Account to be liquidated and
distributed to the holders of the IPO Shares as soon as practicable and (ii) cause the Company to dissolve and liquidate as soon as practicable (the earliest date on which the conditions in clauses (i) and (ii) are both satisfied being the
“Liquidation Date”).  The undersigned agrees, (i) if the Company seeks approval of the Company’s stockholders to consummate a Business Combination within 90 days of the
expiration of 24 months (assuming that the period in which the Company needs to consummate a Business Combination has been extended, as provided in the Company’s amended and restated certificate of incorporation) from the date of the IPO, the
undersigned will vote to

adopt and recommend to the Company’s stockholders a plan of distribution to be included in the proxy statement related to the Business Combination and such proxy statement will seek stockholder approval for dissolution and a
plan of distribution in the event the Company’s stockholders do not approve the Business Combination, and (ii) if no proxy statement seeking the approval of the Company’s stockholders for a Business Combination has been filed 30 days prior
to the date which is 24 months from the date of the IPO, the undersigned shall vote to adopt and recommend to the Company’s stockholders the Company’s dissolution.  The undersigned hereby waives any and all right, title, interest or claim
of any kind in or to any distributions of the trust account with JPMorgan Chase Bank, NA (the “Trust Account”), or to any other amounts distributed in connection with a liquidating
distribution of the Company including with respect to his Insider Shares (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or arising out
of, any contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.

          3.    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 Deutsche Bank that the business combination is fair to the Company’s stockholders from a financial perspective. 

          4.    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 until the earlier of (i) the completion of the Business Combination and (ii) dissolution of the Company,
Churchill Capital Partners LLC, a Delaware limited liability company (the “Related Party”), shall be entitled to a fee of $7,500 per month, to compensate it for the
Company’s use of the Related Party’s offices, utilities and personnel. The Related Party and the undersigned shall also be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection with seeking and
consummating a Business Combination. In addition, the Related Party has advanced to the Company a loan of $240,000, which shall be used to pay a portion of the expenses related to the IPO. The loan is due and payable on the consummation of the
IPO and will be repaid out of the net proceeds of the IPO not placed in the trust account. 

          5.    Neither the undersigned, any member of the family of the undersigned, nor any Affiliate of any of the foregoing will be entitled to receive and will not accept a finder’s fee or any other
compensation from the Company or any other person or entity in the event the undersigned, any member of the family of the undersigned or any Affiliate of any of the foregoing originates a Business Combination. 

          6.    The undersigned agrees that his Insider Shares will be subject to restrictions on sale or other transfer until the earlier of one year following the date of the Business Combination; dissolution of
the Company; or the consummation of a liquidation, merger, stock exchange or other similar transaction which results in all stockholders having the right to exchange their shares of common stock for cash, securities or other property subsequent to
consummating a Business Combination with a target business. 

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          7.    The undersigned shall not, with respect to those Insider Shares owned directly or indirectly by him, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to
purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or file (or participate in the filing of) a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent
position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with
respect to, any Units and the shares of Common Stock and Warrants comprising the Units, the shares of Common Stock issuable upon exercise of the Warrants or any securities convertible into or exercisable or exchangeable for shares of Common Stock or
such Warrants or other rights to purchase shares of Common Stock or any such securities, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Units, shares of
Common Stock or Warrants, the shares of Common Stock issuable upon exercise of the Warrants or any securities convertible into or exercisable or exchangeable for shares of Common Stock or such Warrants or other rights to purchase shares of Common
Stock or any such securities, whether any such transaction is to be settled by delivery of shares of Common Stock or such other securities, in cash or otherwise, or (iii) publicly announce an intention to effect any transaction specified in clause
(i) or (ii) until with respect to his Insider Shares, one year following the consummation of the Business Combination (the “Lock-Up Period”).  Notwithstanding the foregoing, the
undersigned may transfer his Insider Shares during the Lock-Up Period (i) by gift to a member of the undersigned’s immediate family or to a trust, the beneficiary of which is a member of an undersigned’s immediate family, an affiliate of
the undersigned or to a charitable organization, (ii) by virtue of the laws of descent and distribution upon death of the undersigned, (iii) pursuant to a qualified domestic relations order, or (iv) in the event of a liquidation of the Company prior
to a Business Combination or the consummation of a liquidation, merger, capital stock exchange, stock purchase, asset acquisition or other similar transaction which results in all the Company’s stockholders having the right to exchange their
shares of Common Stock for cash, securities or other property subsequent to the Company’s consummating a Business Combination with a target business; provided, however, that the permissive transfers pursuant to clauses (i) - (iii) may be implemented only upon the respective transferee’s written agreement to be bound by the terms and conditions of this
Agreement, including with respect to the voting requirements pertaining to the Insider Shares. During the Lock-Up Period, the undersigned shall not grant a security interest in his Insider Shares.

          8.    The undersigned is a member of the advisory board of the Company and agrees to provide advisory services as requested on the Company’s operations and potential business combinations on and
from the effective date of the IPO. The Company agrees to use its best efforts to obtain an insurance policy that will cover the undersigned in his advisory role. The Company agrees to indemnify and hold the undersigned harmless for his actions
while an advisor (including his legal fees and expenses). The undersigned will not owe any fiduciary duties to the Company of any kind, and will simply be available to consult as requested on the Company operations and potential business
combinations.  The undersigned’s biographical information furnished to the Company and Deutsche Bank 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

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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
Deutsche Bank 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 advisory board of the Company.

          10.    The undersigned authorizes any employer, financial institution, or consumer credit reporting agency to release to Deutsche Bank and its legal representatives or agents (including any investigative
search firm retained by Deutsche Bank) any information they may have about the undersigned’s background and finances (the “Information”). Neither Deutsche Bank 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 the initial acquisition or concurrent acquisitions, as the case may be,
by the Company, whether by merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination, of an operating business or businesses, as the case may be, in the communications, media or technology industries;
(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 acknowledges and understands that the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with the IPO. Nothing contained herein
shall be deemed to render the Underwriters a representative of, or a fiduciary with respect to, the Company, its stockholders, or any creditor or vendor of the Company with respect to the subject matter hereof. 

          13.    This letter agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives and assigns.  This letter agreement shall

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terminate on the earlier of (i) the consummation of the Business Combination and (ii) the Liquidation Date; provided that such termination shall not relieve the
undersigned from liability for any breach of this agreement prior to its termination. 

          14.    This letter agreement shall be governed by and interpreted and construed in accordance with the laws of the State of New York applicable to contracts formed and to be performed entirely within the
State of New York, without regard to the conflicts of law provisions thereof to the extent such principles or rules would require or permit the application of the laws of another jurisdiction. 

[Signature page follows]

 

 

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          The undersigned hereby executes this letter agreement as of July 6, 2006. 

	 	 
	 	 
	 	 
	 	

	 	
[Name] 
	

 

6EXHIBIT 10.4

  SUBSCRIPTION FOR 

      COMMON STOCK 

      ______________________________

    To the Board of Directors of 

      Churchill Ventures Ltd. 

      50 Revolutionary Road 

      Scarborough, New York 10510

    

      The undersigned (the “Subscriber”) hereby subscribes for 3,160,000 units comprised of (i) 3,160,000 shares (the “Shares”) of common stock, par value $0.001 per share (the “Common Stock”), of Churchill Ventures Ltd., a Delaware corporation
(the “Company”), and (ii) warrants to purchase 3,160,000 shares of Common Stock (the “Warrants” and together
with the Shares, the “Securities”), representing 100% of the outstanding capital stock of the Company as of the date hereof, for an aggregate purchase price of US$15,800 (the
“Purchase Price”). 

     The Subscriber hereby agrees, represents and warrants that: 

	 	
(1)      		
The Subscriber is acquiring the Securities for the Subscriber’s own account (and not for the account of others) for investment and not with a view to the distribution or resale thereof.	
	 
	 	
(2)      		
The Subscriber and the Subscriber’s representatives and advisors have received all information regarding the Company, its intended business and operations and the Securities as the Subscriber or the Subscriber’s
representatives and advisors have requested.	
	 
	 	
(3)      		
The Subscriber is a sophisticated investor and may be deemed to have sufficient business, financial or investment experience to evaluate the risks of the Subscriber’s investment in the Securities pursuant hereto. The
Subscriber and each member of the Subscriber is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Subscriber acknowledges that an investment in the Securities involves substantial risks, including the loss of the full amount of the Subscriber’s investment in the Securities pursuant hereto.	
	 
	 	
(4)      		
The Subscriber understands that the Securities have not been registered under the Securities Act or applicable state securities laws and that the Subscriber may not sell or otherwise dispose of the Securities except pursuant to
either an effective registration statement under the Securities Act and in compliance with applicable state securities laws, or pursuant to exemptions from the registration provisions of the Securities Act and applicable state securities laws. The
Subscriber agrees that the Subscriber will not sell or otherwise dispose of the Securities except in compliance	
	 

 

	 	 	
with the securities laws limitations described in the foregoing sentence.	
	 
	 	
(5)      		
This agreement shall be governed by the laws of the State of New York, without regard to its conflicts of laws principles, and may be executed in one or more counterparts, each of which shall be a binding instrument, but which
together shall constitute but one agreement.	
	 
	 	
(6)      		
The Subscriber understands, acknowledges, and agrees with the Company as follows:	
	 
	 	 	
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY OTHER APPLICABLE FEDERAL OR STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT THE PROPOSED SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE
SECURITIES ACT AND ALL OTHER APPLICABLE FEDERAL OR STATE SECURITIES LAWS.	
	 

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the
parties hereto have duly executed this agreement of subscription for Securities as of the dates set forth opposite their respective names below. 

	Dated as of July 6, 2006	 	CHURCHILL CAPITAL PARTNERS LLC
	 	 	 	 
	 	 	By: 	/s/Elizabeth O’Connell                                   

      Name: Elizabeth O’Connell 

      Title: Chief Financial Officer 
	 	 	 	 
	 	 	Address: 
	 	 	 	50 Revolutionary Road 

      Scarborough, New York 10510 
	 	 	 	 

  

  

    Accepted and agreed as of July 6, 2006

CHURCHILL VENTURES LTD. 

  By: /s/Elizabeth O’Connell               

       Name: Elizabeth O’Connell 

       Title: Chief Financial Officer

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