Document:

Form of Investment Management Trust Agreement b/w BONY and the Registrant

 Exhibit 10.1 
 INVESTMENT MANAGEMENT TRUST AGREEMENT 
 This Agreement is made as of
                    , 2006 by and between Millennium India Acquisition Company Inc. (the “Company”) and
                     (“Trustee”). 
 WHEREAS, the Company’s registration statement on Form S-1, No. 333-133189 (“Registration Statement”), for its initial public offering of securities (“IPO”) has been declared effective as of the date hereof
(“Effective Date”) by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and 
 WHEREAS, Ladenburg Thalmann & Co. Inc. (“Ladenburg”) 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 Amended and Restated Certificate of Incorporation,
$66,320,000 of the gross proceeds of the IPO ($76,035,500 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 (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 in a segregated trust account (“Trust Account”) established 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 United States “government securities” within
the meaning of Section 2(a)(16) of the Investment Company Act of 1940 having a maturity of 180 days or less, or in any open ended investment company registered under the Investment Company Act of 1940 that holds itself out as a money market
fund meeting the conditions of paragraphs (c)(2), (c)(3) and (c)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940; 

 (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 Ladenburg 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 Ladenburg to do so; 
 (h) Render to the Company and to Ladenburg, 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; 
 (i) Commence liquidation of the Trust Account promptly 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 (subject in the case of Exhibit B, to the provisions below), signed on behalf of the Company by its Chief
Executive Officer or Chairman of the Board and Secretary, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to therein;
provided, however, that in the event that a Termination Letter has not been received within 18 months from the date of the Company’s IPO (or the date that is the six month anniversary of such date, in the event that a letter of intent,
agreement in principle or definitive agreement has been executed prior to such date in connection with a Business Combination (as defined in the Termination Letter attached hereto as Exhibit A) that has not been consummated prior to 24 months from
the date of the Company’s IPO), the Trust Account shall be liquidated as part of the Company’s plan of dissolution and liquidation approved by the Company’s stockholders in accordance with the procedures set forth in the Termination
Letter attached as Exhibit B to the stockholders of record on the record date; provided, further, that the record date shall be within ten (10) days of the 18 month date from the date of the Company’s IPO (or the date that is the six month
anniversary of such date, in the event that a letter of intent, agreement in principle or definitive agreement has been executed prior to such date in connection with a Business Combination that has not been consummated prior to 24 months from the
date of the Company’s IPO), or as soon thereafter as is practicable; and 
 (j) Upon one or more written requests from the Company, which
may be given not more than once in any calendar month period, the Trustee shall distribute to the Company interest earned on the Trust Account, net of taxes payable, up to a maximum of $1,975,000. The distributions requested by the Company may be
for any amount, provided that (i) in the aggregate, all distributions under this Section 1(j) may not exceed $1,975,000 and (ii) such distributions may only be made if and to the extent that interest has been earned on the amount
initially deposited into the Trust Account. No other distributions from the Trust Account shall be permitted except in accordance with Section 1(i) and this Section 1(j) hereof. 
  

 2 

	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 Chief Executive Officer or Chairman of the Board. In addition,
except with respect to its duties under paragraph 1(i) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it in good faith believes to be given by any one of
the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing; 
 (b) Hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any action, suit or other proceeding
brought against the Trustee involving any claim, or in connection with any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from investment of
the Property, except for expenses and losses resulting from the Trustee’s gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Company shall have the right to conduct and
manage the defense against such Indemnified Claim, provided, that the Company shall obtain the consent of the Trustee with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Company may not agree to settle any
Indemnified Claim without the prior written consent of the Trustee unless such settlement includes a full release with respect to such Indemnified Claim. The Trustee may participate in such action with its own counsel, at its own expense;

 (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). 
 (d) Provide to the Trustee any
letter of intent, agreement in principle or definitive agreement for a Business Combination that is executed on or prior to 18 months from the date of the Company’s IPO; and 
 (e) In connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit or certificate of
a firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes (which firm may be the Trustee) verifying the vote of the Company’s stockholders regarding such Business Combination. 
  

 3 

	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 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) to any governmental entity or taxing authority. 
  

 4 

	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; or 
 (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). 
  

	5.	Miscellaneous. 

 (a) The Company and the Trustee each
acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust Account. Upon receipt of written instructions, the Trustee will confirm such instructions with an Authorized Individual
at an Authorized Telephone Number listed on the attached Exhibit C. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party
immediately if it has reason to believe unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon account numbers or other identifying
numbers of a beneficiary, beneficiary’s bank or intermediary bank, rather than names. The Trustee shall not be liable for any loss, liability or expense resulting from any error in an account number or other identifying number, provided it has
accurately transmitted the numbers provided. 
 (b) This Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of New York, without giving effect to conflict of laws. It may be executed in several original or facsimile 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 Ladenburg. As to any
claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. 
  

 5 

 (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: 
 The
Bank of New York 
 Asset-Backed Securities 
 101 Barclay Street, Floor 8 West 
 New York, NY 10286 
 Attn : Antonio Vayas 
 if to the Company, to:

 Millennium India Acquisition Company Inc. 
 330 East 38th Street, Suite 46C 
 New York, New York 10016 
 Attn:  F. Jacob Cherian, President and Chief Executive Officer 
      Fax No.: 
 and 
 Sonnenschein Nath &
Rosenthal LLP 
 1221 Avenue of the Americas 
 New York, New York 10020 
 Attn: Ira I. Roxland, Esq. 
 Fax No.: (212) 768-6800 
 in either
case with a copy to: 
 Ladenburg Thalmann & Co. Inc. 
 153 East 53rd Street 
 New York, New York 10022 
 Attn: Peter H.
Blum Fax No.: 
 and 
  

 6 

 Greenberg Traurig, LLP 
 MetLife Building 
 200 Park Avenue 
 New York, New York 10166 
 Attn: Alan I.
Annex, Esq. 
 Fax No.: (212) 801-6400 
 (f) This Agreement may not be assigned by the Trustee without the prior written consent of the Company and Ladenburg. 
 (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. 
 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above. 
  

			
	 The Bank of New York,as Trustee

		
	 By:
	 	  
  

		 	 Name:

		 	 Title:

	
	MILLENNIUM INDIA ACQUISITION COMPANY INC.
		
	 By:
	 	  
  

		 	 Name:      F. Jacob Cherian

		 	 Title:        President and Chief Executive
                  Officer

  

 7 

 EXHIBIT A 
 [Letterhead of Company] 
 [Insert date] 
 The Bank of New York 
 Asset-Backed Securities 
 101 Barclay Street, Floor 8 West 
 New York, NY 10286 
 Attn : Antonio Vayas 
 Re: Trust Account No.
[                    ] Termination Letter 
 Ladies and Gentlemen: 
 Pursuant to paragraph 1(i) of the Investment Management Trust Agreement between
Millennium India Acquisition Company Inc. (“Company”) and The Bank of New York (“Trustee”), dated as of
                            , 2006 (“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 subparagraph (A) of Article Fifth of the Amended and Restated Certificate of Incorporation of the Company, the Business
Combination has been approved by the stockholders of the Company and by the Public Stockholders holding a majority of the IPO Shares, and Public Stockholders holding less than 20% of the IPO Shares have voted against the Business Combination and
given notice of exercise of their conversion rights. Pursuant to Section 2(e) of the Trust Agreement, we are providing you with [an affidavit] [a certificate] of , which verifies the vote of the Company’s stockholders in connection with
the Business Combination. 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 the Business Combination has been consummated or will, concurrently with your transfer of funds to the accounts as directed by the Company, be consummated, 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 be distributed after the 

  

 8 

 
Consummation Date to the Company or be distributed immediately and the penalty incurred. Upon the distribution of all the funds in the Trust Account pursuant
to the terms hereof, the Trust Agreement shall be terminated. 
 In the event that the Business Combination is not consummated on the
Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation Date of a new Consummation Date, then the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on
the business day immediately following the Consummation Date as set forth in the notice. 
  

			
	 Very truly yours,

	
	 MILLENNIUM INDIA ACQUISITION COMPANY INC.

		
	 By:
	  	  

		  	 F. Jacob Cherian

		  	 President and Chief Executive Officer

		
	 By:
	  	  

		  	 Suhel Kanuga

		  	 Executive Vice President, Chief Financial Officer,
 Treasurer and Secretary

  

	cc:	Ladenburg Thalmann & Co. Inc. 

  

 9 

 EXHIBIT B 
 [Letterhead of Company] 
 [Insert date] 
 Re: Trust Account No. [            ] Termination Letter 
 Ladies
and Gentlemen: 
 Pursuant to paragraph 1(i) of the Investment Management Trust Agreement between Millennium India Acquisition Company Inc.
(“Company”) and The Bank of New York (“Trustee”), dated as of             , 2006 (“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 Certificate of Incorporation, as described in the Company’s prospectus relating to its IPO. 
 In accordance with the terms of the Trust Agreement, we hereby authorize you, to commence liquidation of the Trust Account as part of the Company’s
plan of dissolution and distribution. In connection with this liquidation, you are hereby authorized to establish a record date for the purposes of determining the stockholders of record entitled to receive their per share portion of the Trust
Account. The record date shall be within ten (10) days of the liquidation date, or as soon thereafter as is practicable. You will notify the Company in writing as to when all of the funds in the Trust Account will be available for immediate
transfer (“Transfer Date”) in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company. You shall commence distribution of such funds in accordance with the terms of the
Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company and you shall oversee the distribution of the funds. Upon the payment of all the funds in the Trust Account, the Trust Agreement shall be terminated.

  

			
	 Very truly yours,

	
	 MILLENNIUM INDIA ACQUISITION COMPANY INC.

		
	 By:
	 	  

		 	F. Jacob Cherian
		 	President and Chief Executive Officer
	 By:
	 	  

		 	Suhel Kanuga
		 	Executive Vice President, Chief Financial Officer, Treasurer and Secretary

  

 10 

 EXHIBIT C 
  

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

		  	
		  	
	Company:	  	
		  	
	 Millennium India Acquisition Company Inc.
 330 East
38th Street, Suite 46C
 New York, New York 10016
 Attn: F. Jacob Cherian, President and CEO
	  	
		  	
	Trustee:	  	
		  	
	 The Bank of New York
 Asset-Backed Securities

101 Barclay Street, Floor 8 West
 New York, NY 10286
 Attn : Antonio Vayas
	  	

  

 11Form of Letter Agreement among the Registrant, Ladenburg Thalmann & Co. Inc.

 June , 2006 
  
 Exhibit 10.3 
 Millennium India Acquisition Company Inc. 
 330 East 38 Street 
 Suite 46C 
 New York, New York 10016 
 Ladenburg Thalmann & Co. Inc. 
 590 Madison Avenue, 34th Floor 
 New York, New York 10022 
  

	 	Re:	Initial Public Offering 

 Ladies
and Gentlemen: 
 The undersigned holder (the “Holder”) of Millennium India Acquisition Company Inc.’s (the
“Company”), common stock, par value $0.0001 per share (the “Common Stock”) and warrants, each to purchase one share of the Company’s Common Stock (the “Warrants,” and the shares of Common Stock underlying the
Warrants, the “Warrant Stock”), in consideration of Ladenburg Thalmann & Co. Inc. (“Ladenburg”) entering into an underwriting agreement (the “Underwriting Agreement”), as Representative of the several
underwriters named in Schedule I of the Underwriting Agreement, with the Company providing for the initial public offering of the securities of the Company (the “IPO”), hereby agrees as follows (certain capitalized terms used herein are
defined in paragraph 12 hereof): 
 1.     If the Company solicits approval of its stockholders of a Business
Combination, the Holder will vote all shares of Common Stock then owned by such Holder, including any shares purchased by such Holder in or after the IPO, in accordance with the majority of the votes cast by the Company’s public stockholders,
other than Insiders of the Company. 
 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 (or 24 months under the circumstances described in the Prospectus relating to the IPO), the Holder agrees to waive such Holder’s right to
participate in any liquidation distribution with respect to those shares of Common Stock and Warrant Stock owned by such Holder prior to the IPO, and to take all reasonable actions within its power, at the times described in the Prospectus, to cause
the Company to liquidate as soon as reasonably practicable. 
 3.     The Holder hereby waives its right to exercise
conversion rights with respect to any shares of Common Stock owned by such Holder, directly or indirectly, including any shares of Common Stock purchased by such Holder in or after the IPO, and agrees that it will not seek 

 Millennium India Acquisition Company Inc. 
 Ladenburg Thalmann & Co. Inc. 
 June     , 2006 
 Page 2 
  
 conversion with respect to such shares of Common Stock in connection with any vote to approve a Business Combination (as is more fully described in the Company’s Prospectus). 
 4.     Without the prior written consent of Ladenberg, the Holder will not, during the period commencing on the date hereof and
ending on the date of consummation of a Business Combination, sell, transfer or exercise the Warrants owned by such Holder immediately prior to the Company’s consummation of the IPO. The Holder agrees that such Warrants will be held in escrow
with American Stock Transfer & Trust Company as escrow agent (the “Escrow Agent”) until the earliest to occur of (i) the liquidation of the Company or (ii) the consummation of a Business Combination. By the Holder’s
execution hereof, the Holder hereby authorizes the Company for, and on behalf of, the Holder to deliver the certificate or certificates evidencing the Holder’s Warrants into escrow at the closing of the IPO as contemplated by the immediately
proceeding sentence. 
 5.     Without the prior written consent of Ladenberg, the Holder will not, during the period
commencing on the date hereof and ending six months after the date of consummation of a Business Combination, sell or transfer the Common Stock or the Warrant Stock (except to their spouses and children, or trusts established for their benefit)
owned by such Holder immediately prior to the IPO. The Holder agrees that such Common Stock and Warrant Stock will be held in escrow with the Escrow Agent until the earliest to occur of (i) six months after the consummation of a business
combination, (ii) the liquidation of the Company, or (iii) the consummation of a Business Combination. By the Holder’s execution hereof, the Holder hereby authorizes the Company for, and on behalf of, the Holder to deliver the
certificate or certificates evidencing the Holder’s Common Stock or Warrant Stock into escrow at the closing of the IPO as contemplated by the immediately proceeding sentence. 
 6.     In order to minimize potential conflicts of interest which may arise from multiple affiliations, the Holder 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 Holder ceases to be an officer or director of the Company, subject to any pre-existing fiduciary obligations the Holder might have. 
 7.     The Holder 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 Ladenburg that the Business Combination is fair to the Company’s stockholders from a financial perspective. 
 8.     Neither the Holder, any family member of the Holder, nor any affiliate of the Holder 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. 
  

 2 

 Millennium India Acquisition Company Inc. 
 Ladenburg Thalmann & Co. Inc. 
 June     , 2006 
 Page 3 
  
 9.     Neither the Holder, any family member of the Holder, or any affiliate of the Holder will be entitled to receive or accept a finder’s fee or any other compensation in the event the
Holder, any family member of the Holder, or any affiliate of the Holder originates a Business Combination. 
 10.   The Holder
authorizes any employer, financial institution, or consumer credit reporting agency to release to Ladenburg and its legal representatives or agents (including any investigative search firm retained by Ladenburg) any information it may have about the
Holder’s background and finances (“Information”), purely for the purposes of the Company’s IPO (and shall thereafter hold such information confidential). Neither Ladenburg nor its agents shall be violating the Holder’s right
of privacy in any manner in requesting and obtaining the Information. 
 11.   The Holder has full right and power, without
violating any agreement by which it is bound, to enter into this letter agreement. 
 12.   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 selected by the Company; (ii) “Insiders” shall mean all
officers and directors who are stockholders of the Company immediately prior to the IPO; (iii) “Prospectus” shall mean the prospectus forming a part of the Registration Statement on Form S-1 (File No. 333-133189), as amended (the
“Registration Statement”), filed by the Company under the Securities Act of 1933, as amended, covering the registration of up to 10,625,000 units, each unit consisting of one share of Common Stock and one Warrant. 
  
  

	
	
	
	   
	

  
  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]