Document:

August
                17, 2006

            

    

     

    Rand
      Acquisition Corp. II

    450
      Park
      Avenue, 10th
      Floor

    New
      York,
      New York 10022

    

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue

    Suite
      1203

    New
      York,
      New York 10016

    

    
      	 	 	
              Re:

            	
              Initial
                Public Offering

            

    

    

    Gentlemen:

    

    The
      undersigned stockholder, officer and director of Rand Acquisition Corp. II
      (“Company”), in consideration of EarlyBirdCapital, Inc. (“EBC”) 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 15 hereof):

    

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

    

    2. In
      the
      event that the Company fails to consummate a Business Combination within 24
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO, the undersigned will (i) cause the Trust Fund (as defined
      in the Letter of Intent) to be liquidated and distributed to the holders of
      IPO
      Shares and (ii) take all reasonable actions within his power to cause the
      Company to liquidate as soon as reasonably practicable. The undersigned hereby
      waives any and all right, title, interest or claim of any kind in or to any
      distribution of the Trust Fund and any remaining net assets of the Company
      as a
      result of such liquidation with respect to his Insider Shares (“Claim”) and
      hereby waives any Claim the undersigned may have in the future as a result
      of,
      or arising out of, any contracts or agreements with the Company and will not
      seek recourse against the Trust Fund for any reason whatsoever. In the event
      of
      the liquidation of the Trust Fund, the undersigned agrees to indemnify and
      hold
      harmless the Company, pro rata with Edward Levy and Isaac Kier based on the
      number of Insider Shares held by each such individuals, 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 or other person who is owed money by the
      Company for services rendered or products sold or contracted for, or by any
      target business, 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.

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    Rand
      Acquisition Corp. II

    EarlyBirdCapital,
      Inc.

    August
      17, 2006

    Page
      2

    

    3. In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity, any suitable
      opportunity to acquire an operating business, until the earlier of the
      consummation by the Company of a Business Combination, the liquidation of the
      Company or until such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

    

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

     

    5. Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      (“Affiliate”) of the undersigned will be entitled to receive and will not accept
      any compensation for services rendered to the Company prior to or in connection
      with the consummation of the Business Combination; provided that commencing
      on
      the Effective Date, ProChannel Management (“Related Party”), shall be allowed to
      charge the Company $7,500 per month, representing an allocable share of Related
      Party’s overhead, to compensate it for the Company’s use of Related Party’s
      offices, utilities and personnel. 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.
       

     

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

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    Rand
      Acquisition Corp. II

    EarlyBirdCapital,
      Inc.

    August
      17, 2006

    Page
      3

    

    7. The
      undersigned will escrow all of his Insider Shares acquired prior to the IPO
      until one year after the consummation by the Company of a Business Combination
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

    8. The
      undersigned agrees to be the Chairman of the Board and Chief Executive
      Officer 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 EBC and attached hereto as Exhibit
      A is
      true and accurate in all respects, does not omit any material information with
      respect to the undersigned’s background and contains all of the information
      required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated
      under the Securities Act of 1933. The undersigned’s Questionnaire furnished to
      the Company and EBC 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 Chairman of
      the
      Board and Chief Executive Officer of the Company.

    

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

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    Rand
      Acquisition Corp. II

    EarlyBirdCapital,
      Inc.

    August
      17, 2006

    Page
      4

    

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

    

    12. In
      the
      event that the Company does not consummate a Business Combination and must
      liquidate and its remaining net assets are insufficient to complete such
      liquidation, the undersigned agrees to advance such funds necessary to complete
      such liquidation and agrees not to seek repayment for such
      expenses.

    

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

    

    14. 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 Graubard Miller
      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 EBC and appoint a substitute agent acceptable to each of the
      Company and EBC 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.
 

    
      
        
        

      

      
        
        

        
          

        

      

       

    

    Rand
      Acquisition Corp. II

    EarlyBirdCapital,
      Inc.

    August
      17, 2006

    Page
      5

     

    15. 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 acquired by an
      Insider prior to the IPO; and (iv) “IPO Shares” shall mean the shares of Common
      Stock issued in the Company’s IPO.

    
      	 	 	 
	
            	
            	Laurence
              S. Levy
	 	
              
Print
              Name of Insider

    

    

      	 	 	 
	
            	
            	
              /s/
                Laurence S. Levy

            
	 	
              
Signature

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    

    Laurence
      S. Levy has
      served as our chairman of the board and chief executive officer since our
      inception. Mr. Levy has been the chairman of the board of directors and chief
      executive officer of Rand Logistics, Inc. (originally known as Rand Acquisition
      Corporation), a company that provides bulk freight shipping services throughout
      the Great Lakes region, since its inception in June 2004. Rand Acquisition
      Corporation was formed to acquire an operating business and did so in March
      2006, acquiring all of the outstanding stock of Lower Lakes Towing Ltd., and
      thereafter changed its name to Rand Logistics. Mr. Levy founded the predecessor
      to Hyde Park Holdings, LLC in July 1986 and has since served as its chairman.
      Hyde Park Holdings, LLC is an investor in middle market businesses. Mr. Levy
      serves as an officer or director of many companies in which Hyde Park Holdings,
      LLC or its affiliates invests. Presently, these companies include: Ozburn-Hessey
      Logistics LLC, a national logistics services company, of which Mr. Levy is
      a
      director; Derby Industries LLC, a sub-assembly business to the appliance, food
      and transportation industries, of which Mr. Levy is chairman; PFI Resource
      Management LP, an investor in the Private Funding Initiative program in the
      United Kingdom, of which Mr. Levy is general partner; Parking Company of America
      Airports LLC, an owner and operator of airport parking garages, of which Mr.
      Levy is a director; Regency Affiliates, Inc., a diversified publicly listed
      company, of which Mr. Levy is chairman, chief executive officer and president;
      Warehouse Associates L.P., a provider of warehouse and logistics services,
      of
      which Mr. Levy is chairman. In addition, from March 1997 to January 2001, Mr.
      Levy served as chairman of Detroit and Canada Tunnel Corporation, a company
      which operates the toll tunnel between Detroit, Michigan and Windsor, Ontario,
      and from August 1993 until May 1999, Mr. Levy served as chief executive officer
      of High Voltage Engineering Corporation, a diversified industrial and
      manufacturing company. Mr. Levy received a Bachelor of Commerce degree and
      a
      Bachelor of Accountancy degree from the University of Witwatersrand in
      Johannesburg, South Africa and an M.B.A. from Harvard University and graduated
      as a Baker Scholar. He is also qualified as a Chartered Accountant (South
      Africa). Mr. Levy is not related to Edward Levy.August
                  17, 2006

              

      

    

     

    Rand
      Acquisition Corp. II

    450
      Park
      Avenue, 10th
      Floor

    New
      York,
      New York 10022

     

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue

    Suite
      1203

    New
      York,
      New York 10016

    

    
      	 	 	
              Re:

            	
              Initial
                Public Offering

            

    

    

    Gentlemen:

    

    The
      undersigned stockholder, officer and director of Rand Acquisition Corp. II
      (“Company”), in consideration of EarlyBirdCapital, Inc. (“EBC”) 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 15 hereof):

    

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

    

    2. In
      the
      event that the Company fails to consummate a Business Combination within 24
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO, the undersigned will (i) cause the Trust Fund (as defined
      in the Letter of Intent) to be liquidated and distributed to the holders of
      IPO
      Shares and (ii) take all reasonable actions within his power to cause the
      Company to liquidate as soon as reasonably practicable. The undersigned hereby
      waives any and all right, title, interest or claim of any kind in or to any
      distribution of the Trust Fund and any remaining net assets of the Company
      as a
      result of such liquidation with respect to his Insider Shares (“Claim”) and
      hereby waives any Claim the undersigned may have in the future as a result
      of,
      or arising out of, any contracts or agreements with the Company and will not
      seek recourse against the Trust Fund for any reason whatsoever. In the event
      of
      the liquidation of the Trust Fund, the undersigned agrees to indemnify and
      hold
      harmless the Company, pro rata with Laurence S. Levy and Isaac Kier based on
      the
      number of Insider Shares held by each such individuals, 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 or other person who is owed money by the
      Company for services rendered or products sold or contracted for, or by any
      target business, 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.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      Rand
        Acquisition Corp. II

      Early
        Bird Capital, Inc.

      August
        17, 2006

      Page
        2

       

    

    3. In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, the undersigned agrees to present to the Company for its
      consideration, prior to presentation to any other person or entity, any suitable
      opportunity to acquire an operating business, until the earlier of the
      consummation by the Company of a Business Combination, the liquidation of the
      Company or until such time as the undersigned ceases to be an officer or
      director of the Company, subject to any pre-existing fiduciary and contractual
      obligations the undersigned might have.

    

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

     

    5. Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      (“Affiliate”) of the undersigned will be entitled to receive and will not accept
      any compensation for services rendered to the Company prior to or in connection
      with the consummation of the Business Combination; provided that the undersigned
      shall be entitled to reimbursement from the Company for his 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, nor any Affiliate
      of the undersigned will be entitled to receive or accept a finder’s fee or any
      other compensation in the event the undersigned, any member of the family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Rand
        Acquisition Corp. II

      Early
        Bird Capital, Inc.

      August
        17, 2006

      Page
        3

       

    

    7. The
      undersigned will escrow all of his Insider Shares acquired prior to the IPO
      until one year after the consummation by the Company of a Business Combination
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

    8. The
      undersigned agrees to be President and a Director 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 EBC and attached hereto as Exhibit
      A is
      true and accurate in all respects, does not omit any material information with
      respect to the undersigned’s background and contains all of the information
      required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated
      under the Securities Act of 1933. The undersigned’s Questionnaire furnished to
      the Company and EBC 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 President
      and a
      Director of the Company.

    

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

    

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      Rand
        Acquisition Corp. II

      Early
        Bird Capital, Inc.

      August
        17, 2006

      Page
        4

    

     

    12. In
      the
      event that the Company does not consummate a Business Combination and must
      liquidate and its remaining net assets are insufficient to complete such
      liquidation, the undersigned agrees to advance such funds necessary to complete
      such liquidation and agrees not to seek repayment for such
      expenses.

    

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

    

    14. 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 Graubard Miller
      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 EBC and appoint a substitute agent acceptable to each of the
      Company and EBC 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.  

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Rand
        Acquisition Corp. II

      Early
        Bird Capital, Inc.

      August
        17, 2006

      Page
        5

       

    

    15. 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 acquired by an
      Insider prior to the IPO; and (iv) “IPO Shares” shall mean the shares of Common
      Stock issued in the Company’s IPO.

     

    
      	 	 	Edward
              Levy
	 	 	Print
              Name of Insider
	 	
            
	 
 	 
 	 
 
	 	
            	
              /s/
                Edward Levy

            
	 	
              

              Signature

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    

    Edward
      Levy has
      been
      our president and a member of our board of directors since our inception. Since
      June 2006, Mr. Levy has been the president of Rand Logistics. From its inception
      in June 2004 to June 2006, Mr. Levy acted as special advisor to Rand Logistics.
      Mr. Levy was a managing director of CIBC World Markets Corp. from August 1995
      through December 2004, and was co-head of CIBC World Markets Corp.'s Leveraged
      Finance Group from June 2001 until December 2004. From February 1990 to August
      1995, Mr. Levy was a managing director of Argosy Group L.P., a private
      investment banking firm. Since June 1998, Mr. Levy has been a member of the
      board of managers of Norcross Safety Products LLC, a reporting company under
      the
      Securities Exchange Act of 1934, as amended, engaged in the design, manufacture
      and marketing of branded products in the fragmented personal protection
      equipment industry. Mr. Levy is also a director of Derby Industries. From July
      1999 until March 2005, he was also a director of Booth Creek Ski Holdings,
      Inc.,
      a reporting company under the Securities Exchange Act of 1934 that owns and
      operates six ski resort complexes encompassing nine separate resorts. Mr. Levy
      is a member of the board of directors of a number of privately-held companies.
      Mr. Levy received a B.A. from Connecticut College. Mr. Levy is not related
      to
      Laurence S. Levy.

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