Document:

Unassociated Document

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      Agreement is made as of [____],
      2008 by
      and between Consumer Partners Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (the
      “Trustee”).

     

    WHEREAS,
      the Company’s registration statement on Form S-1, No. 333-148396 (the
“Registration
      Statement”),
      relating to the initial public offering of its securities (the “IPO”)
      has
      been declared effective as of the date hereof (the “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);

     

    WHEREAS,
      Broadband Capital Management, LLC (“Broadband”)
      is
      acting as the representative of the underwriters in the IPO;

     

    WHEREAS,
      subject to adjustment in the event the Company’s existing shareholders purchase
      any additional shares in the IPO, as described in the Registration Statement,
      and in accordance with the Company’s amended and restated certificate of
      incorporation, an aggregate of $125,000,000 (or $143,562,500, if the
      underwriters’ over-allotment option is exercised in full), which is comprised of
      (i) the net proceeds of the IPO (except as provided in the Registration
      Statement) and (ii) $5,000,000 received by the Company in exchange for its
      securities issued pursuant to the private placement that will take place
      immediately prior to the closing of the IPO, will be delivered to the Trustee
      to
      be deposited and held in the Trust Account for the benefit of the Company,
      and
      the holders of shares of the Company’s common stock, par value $0.0001 per share
      (“Common
      Stock”),
      that
      form a part of the units of the Company’s securities issued in the IPO (the
“Units”).
      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 collectively 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.

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual covenants and
      agreements herein contained, the parties hereto agree as follows:

     

    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,
      and/or
      in any open ended investment company registered under the Investment Company
      Act
      of 1940 that holds itself out as a money market fund selected by the Company
      meeting the conditions of paragraphs (c)(2), (c)(3) and (c)(4) of Rule 2a-7
      promulgated under the Investment Company Act of 1940, as determined by the
      Company;

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    (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 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 its tax returns;

     

    (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 to do
      so;

     

    (h) Render
      to
      the Company and to Broadband, 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) If
      there
      is any income or other tax obligation relating to the income from the Property
      in the Trust Account as determined by the Company, then, from time to time,
      at
      the written instruction of the Company, the Trustee shall promptly to the extent
      there is not sufficient cash in the Trust Account to pay such tax obligation,
      liquidate such assets held in the Trust Account as shall be designated by the
      Company in writing, and disburse to the Company by wire transfer, out of the
      Property in the Trust Account, the amount indicated by the Company as owing
      in
      respect of such income tax obligation, provided, however, that such amount
      may
      not exceed an amount equal to the interest earned on the Trust Account less
      any
      amounts previously withdrawn from the Trust Account; and

     

    (j) Commence
      liquidation of the Trust Account only after and promptly after receipt of,
      and
      only in accordance with, the terms of a letter (the “Termination
      Letter”),
      in a
      form substantially similar to that attached hereto as either Exhibit
      A
      or
Exhibit B
      hereto,
      signed on behalf of the Company by its President or Chairman of the Board and
      Secretary or Assistant Secretary or other authorized officer of the Company,
      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 by the Trustee by
      the
      close of business on the “business day” that is the 24-month anniversary of the
      consummation of the IPO (the “Last
      Date”),
      the
      Trust Account shall be liquidated in accordance with the procedures set forth
      in
      the Termination Letter attached as Exhibit
      B
      hereto
      and distributed to the designated paying agent for distribution to the
      stockholders of record on the Last Date. A business day shall be any day that
      is
      not a Saturday, Sunday or other day on which banks are required or authorized
      to
      be closed in the City of New York. In all cases, the Trustee shall provide
      Broadband with a copy of any Termination Letter and/or any other correspondence
      that it receives with respect to any proposed withdrawal from the Trust Account
      promptly after it receives same. The provisions of this Section 1(j) may not
      be
      modified, amended or deleted under any circumstances.

     

    2. Limited
      Distributions of Income from Trust Account.
      

     

    (a) Upon
      written request from the Company, which may be given from time to time in a
      form
      substantially similar to that attached hereto as Exhibit
      C,
      the
      Trustee shall distribute to the Company from interest earned on the Trust
      Account the amount requested by the Company to
      cover
any
      income or other tax obligation owed by the Company;

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
 

    (b) The
      limited distributions referred to in Section 2(a) above shall be made only
      from
      income collected on the Property. Except as provided in Section 2(a) above,
      no
      other distributions from the Trust Account shall be permitted except in
      accordance with Sections 1(i) and (j) hereof.

    

    3. 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
      Chairman of the Board or President or other authorized officer, provided
      that any
      Termination Letter shall be given pursuant to the requirements of paragraph
      1(j)
      hereof.
      In
      addition, except with respect to its duties under paragraphs 1(i), 1(j), and
      2(a) 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 by this
      paragraph 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
      Trustee shall have the right to conduct and manage the defense against such
      Indemnified Claim, provided that the Trustee shall obtain the consent of the
      Company with respect to the selection of counsel, which consent shall not be
      unreasonably withheld. The Trustee may not agree to settle any Indemnified
      Claim
      without the prior written consent of the Company, which consent shall not be
      unreasonably withheld. The Company may participate in such action with its
      own
      counsel; 

     

    (c) Pay
      the
      Trustee an initial acceptance fee, an annual fee and a transaction processing
      fee for each disbursement made pursuant to Section 2 as set forth on
Schedule
      A
      hereto,
      which fees shall be subject to modification by mutual agreement of the parties
      from time to time. It is expressly understood that the Property shall not be
      used to pay such fees and further agreed that said transaction processing fees
      shall be deducted by the Trustee from accumulated income at the time that
      disbursements are made to the Company pursuant to Section 2. The Company shall
      pay the Trustee the initial acceptance fee and first annual fee at the
      consummation of the IPO and the annual fee thereafter on the anniversary of
      the
      Effective Date. The Trustee shall refund to the Company the annual fee (on
      a pro
      rata basis) with respect to any period after the liquidation of the Trust
      Account. The Company shall not be responsible for any other fees or charges
      of
      the Trustee except as set forth in this Section 3(c) and as may be provided
      in
      Section 3(b) hereof (it being expressly understood that the Property shall
      not
      be used to make any payments to the Trustee under such Sections, except to
      the
      extent it is distributed to the Company pursuant to Section 2); and

     

    (d) 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 verifying the vote of the Company’s stockholders regarding
      such Business Combination.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    4. 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 Sections 1 and
      2
      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; 

     

    (h) File
      information returns with the United States Internal Revenue Service and payee
      statements with the Company, documenting the taxes payable by the Company,
      if
      any, relating to interest earned on the Property; 

     

    (i) Prepare,
      execute and file tax reports, income or other tax returns and pay any taxes
      with
      respect to income and activities relating to the Trust Account, regardless
      of
      whether such tax is payable by the Trust Account or the Company (including
      but
      not limited to income tax obligations), it being expressly understood that
      as
      set forth in Section 1(i), if there is any income or other tax obligation
      relating to the Trust Account or the Property in the Trust Account, as
      determined from time to time by the Company and regardless of whether such
      tax
      is payable by the Company or the Trust, at the written instruction of the
      Company, the Trustee shall make funds available in cash from the Property in
      the
      Trust Account an amount specified by the Company as owing to the applicable
      taxing authority, which amount shall be paid directly to the Company by
      electronic funds transfer, account debit or other method of payment, and the
      Company shall forward such payment to the taxing authority; and

     

    (j) Verify
      calculations, qualify or otherwise approve the Company’s requests for
      distributions pursuant to Section 1(j) above.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    5. 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 any court in the State of New
      York or 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(j) hereof, and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate except with respect to Section 3(b).

     

    6. Miscellaneous.

     

    (a) Notwithstanding
      any other provision of this Agreement, the Trustee confirms its understanding
      that the Company has established the Trust Account relating to the Units being
      sold in the IPO. The Trustee acknowledges that the Trust Account will exist
      for
      the benefit of the Company’s Public Stockholders and the monies from the Trust
      Account may only be disbursed upon the occurrence of certain events, as more
      fully described in the Prospectus, and the Trustee hereby waives any and all
      right, title, interest or claim of any kind in or to any distribution of any
      property held in the Trust Account that it or its affiliates may have now or
      in
      the future and hereby agrees not to seek recourse, reimbursement, payment or
      satisfaction for any claim of any kind against the Trust Account for any reason
      whatsoever, including in respect of the Company’s indemnification obligations
      set forth in this Agreement. The Trustee agrees that neither it nor any of
      its
      affiliates have or will have any right, title, interest or claim in or to the
      monies in the Trust Account.

     

    (b) The
      Company and the Trustee each acknowledge that the Trustee will follow the
      procedures set forth in this paragraph with respect to funds transferred from
      the Trust Account. 

     

    (c) This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to conflicts of law
      principles that would result in the application of the substantive laws of
      another jurisdiction. It may be executed in several original or facsimile
      counterparts, each one of which shall constitute an original, and together
      shall
      constitute but one instrument.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (d) This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. Except for Section 1(j) (which may
      not be amended under any circumstances), 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 Broadband and Public Stockholders owning 90% of the shares of Common
      Stock issued in the IPO. As to any claim, cross-claim or counterclaim in any
      way
      relating to this Agreement, each party waives the right to trial by
      jury.

     

    (e) 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.

     

    (f) Any
      notice, consent or request to be given in connection with any of the terms
      or
      provisions of this Agreement shall be in writing and shall be sent by express
      mail or similar private courier service, by certified mail (return receipt
      requested), by hand delivery or by facsimile transmission:

     

    if
      to the
      Trustee, to:

    

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place 

    New
      York,
      New York 10004

    Attn: Steven
      G.
      Nelson and Frank DiPaolo

    Fax
      No.:
      (212) 509-5150

    

    if
      to the
      Company, to:

     

    Consumer
      Partners Acquisition Corp.

    11150
      Santa Monica Blvd., Suite 700

    Los
      Angeles, California 90025

    Attn:
      Ted
      Tawinganone, Chief Financial Officer

    Fax
      No.:
      ______________

     

    in
      either
      case with copies to:

     

    Broadband
      Capital Management, LLC 

    712
      Fifth
      Avenue, 49th
      Floor

    New
      York,
      New York 10019

    
      	 	
              Attn:

            	
              Michael
                Rapoport

            

    

    Fax
      No.:
(212)
      702-9830

     

    and

     

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn:
      Mitchell S. Nussbaum

    Fax
      No:
      (212) 407-4990

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

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

     

    (h) 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.

     

    (i) Each
      of
      the Company and the Trustee hereby acknowledge that Broadband is an intended
      third party beneficiary of this Agreement.

     

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

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the parties have duly executed this Investment Management
      Trust
      Agreement as of the date first written above.

     

    CONTINENTAL
      STOCK TRANSFER & TRUST COMPANY, as Trustee

     

    By:
      ____________________________

    Name:
      Steven G. Nelson 

    Title:
      Chairman

     

    CONSUMER
      PARTNERS ACQUISITION CORP.

     

    By:
      ____________________________

    Name:
      Dana D. Messina

    Title:
       
      Chief
      Executive Officer

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    SCHEDULE
      A

    

    

    
      	
              Fee
                Item

            	
              Time
                and method of payment 

            	
              Amount

            
	
              Initial
                acceptance fee

            	
              Initial
                closing of IPO by wire transfer 

            	
              $1,000

            
	
              Annual
                fee

            	
              First
                year, initial closing of IPO by wire transfer; thereafter on the
                anniversary of the effective date of the IPO by wire transfer or
                check

            	
              $3,000

            
	
              Transaction
                processing fee for disbursements to the Company under Section
                2

            	
              Deduction
                by Trustee from accumulated income following disbursement made to
                the
                Company under Section 2

            	
              $250

            

    

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    EXHIBIT
      A

     

    Consumer
      Partners Acquisition Corp.

    11150
      Santa Monica Blvd., Suite 700

    Los
      Angeles, California 90025

     

    [Insert
      date]

     

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Steven G. Nelson, Chairman

     

    Re: Trust
      Account No. [●] 

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to paragraph 1(j) of the Investment Management Trust Agreement between Consumer
      Partners Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”),
      dated
      as of [●],
      2008
      (the “Trust
      Agreement”),
      this
      is to advise you that the Company has entered into an agreement (the
“Business
      Agreement”)
      with
[●]
      (the
“Target
      Business”)
      to
      consummate a business combination with Target Business (the “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 (the “Consummation
      Date”).
      Capitalized terms used herein without definitions shall have the respective
      meanings assigned to such terms in the Trust Agreement.

     

    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 the 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, the Company shall deliver to you (a) written notification
      that the Business Combination has been consummated, and (b) a certificate which
      verifies the vote of the Company’s stockholders in connection with the Business
      Combination and (c) written instructions with respect to the transfer of the
      funds held in the Trust Account (the “Instruction
      Letter”).
      You
      are hereby directed and authorized to transfer the funds held in the Trust
      Account immediately upon your receipt of the certificate referenced above 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 promptly 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
      Consummation Date to the Company. Upon the distribution of all the funds in
      the
      Trust Account pursuant to the terms hereof, the Trust Agreement shall be
      terminated.

     

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then the funds held
      in
      the Trust Account shall be reinvested as provided in the Trust Agreement on
      the
      business day immediately following the Consummation Date as set forth in the
      notice.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    
 

    Very
      truly yours,

     

    CONSUMER
      PARTNERS ACQUISITION CORP.

     

    By:________________________________

    Dana
      D.
      Messina,
      Chief
      Executive Officer

     

    cc:
      Broadband Capital Management, LLC

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    EXHIBIT
      B

     

    Consumer
      Partners Acquisition Corp.

    11150
      Santa Monica Blvd., Suite 700

    Los
      Angeles, California 90025

     

    [Insert
      date]

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Steven G. Nelson, Chairman

     

    Re: Trust
      Account No. [●] 

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to paragraph 1(j) of the Investment Management Trust Agreement between Consumer
      Partners Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (“Trustee”),
      dated
      as of [●], 2008 (the “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. Capitalized terms used herein without definitions shall have the
      respective meanings assigned to such terms in the Trust Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account. The
      Company has appointed [________________________] to serve as its designated
      paying agent (the “Designated Paying Agent”); accordingly, you will notify the
      Company and the Designated Paying Agent in writing as to when all of the funds
      in the Trust Account will be available for immediate transfer (the “Transfer
      Date”).
      The
      Designated Paying Agent shall thereafter notify you as to the account or
      accounts of the Designated Paying Agent that the funds in the Trust Account
      should be transferred to on the Transfer Date so that the Designated Paying
      Agent may commence distribution of such funds in accordance with the Company’s
      instructions. You shall have no obligation to oversee the Designated Paying
      Agent’s distribution of the funds. Upon the payment to the Designated Paying
      Agent of all the funds in the Trust Account, the Trust Agreement shall terminate
      in accordance with the terms thereof.

     

    Very
      truly yours,

     

    CONSUMER
      PARTNERS ACQUISITION CORP.

     

    By:
      ________________________________

     Dana
      D.
      Messina,
      Chief
      Executive Officer

     

    cc:
      Broadband Capital Management, LLC 

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    EXHIBIT
      C

     

    Consumer
      Partners Acquisition Corp.

    11150
      Santa Monica Blvd., Suite 700

    Los
      Angeles, California 90025

     

    [Insert
      date]

     

    Continental
      Stock Transfer 

    &
      Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Frank Di Paolo and Cynthia Jordan

     

    Re: Trust
      Account No. [●] 

     

    Ladies
      and Gentlemen:

     

     

    Pursuant
      to paragraph 2(a) of the Investment Management Trust Agreement between Consumer
      Partners Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”),
      dated
      as of [●], 2008 (the “Trust
      Agreement”),
      this
      is
      to advise you that the Company hereby requests that you deliver to the Company
      $[●]
      of the
      income earned on the Property (as defined in the Trust Agreement) as of the
      date
      hereof. The Company needs such funds to pay for the income tax obligations
      as
      set forth on the attached tax return or tax statement. In accordance with the
      terms of the Trust Agreement, you are hereby directed and authorized to transfer
      (via wire transfer) such funds promptly upon your receipt of this letter to
      the
      Company’s operating account at:

     

    [WIRE
      INSTRUCTION INFORMATION]

    

     

    Very
      truly yours,

     

    CONSUMER
      PARTNERS ACQUISITION CORP.

     

    By:
      ________________________________

    Dana
      D.
      Messina,
      Chief
      Executive Officer

     

    cc:
      Broadband Capital Management, LLC 

    
 

     

    13Unassociated Document

    STOCK
      ESCROW AGREEMENT

     

    STOCK
      ESCROW AGREEMENT, dated as of [____],
      2008
      (this “Agreement”),
      by
      and among CONSUMER PARTNERS ACQUISITION CORP., a Delaware corporation (the
      “Company”),
      the
      initial stockholders listed as “Initial Stockholders” on the signature page
      hereto (collectively, the “Initial
      Stockholders”)
      a and
      CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a
      New
      York corporation (the
      “Escrow
      Agent”).

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated [____],
      2008
      (the “Underwriting
      Agreement”),
      with
Broadband
      Capital Management, LLC, as representative of the underwriters
      (“Broadband”),
      pursuant to which, among other matters, the underwriters have agreed to purchase
      units (the “Units”)
      of the
      Company. Each Unit consists of two shares of the Company’s common stock, par
      value $.0001 per share (the “Common
      Stock”),
      and
      one warrant, each warrant to purchase one share of Common Stock (the
“Warrant”),
      all
      as more fully described in the Company’s final Prospectus, dated [____],
      2008
      (the “Prospectus”)
      comprising part of the Company’s Registration Statement on Form S-1
      (File No. 333-148396)
      under
      the Securities Act of 1933, as amended (the “Registration
      Statement”),
      declared effective on [____],
      2008
      (the “Effective
      Date”).

     

    WHEREAS,
      the Initial Stockholders have agreed, as a condition of the sale of the Units
      to
      Broadband, to deposit all of the shares of Common Stock of the Company
      outstanding prior to such sale, as set forth opposite their respective names
      in
Exhibit
      B
      attached
      hereto (collectively, the “Escrow
      Shares”),
      in
      escrow as hereinafter provided.

     

    WHEREAS,
      the Company and the Initial Stockholders 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 promises and the mutual covenants,
      representations and warranties contained herein and intending to be legally
      bound hereby, the parties agree as follows:

     

    1. Appointment
      of Escrow Agent.
      The
      Company and the Initial Stockholders 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 or
      before the Effective Date, each of the Initial Stockholders shall deliver to
      the
      Escrow Agent certificates representing his, her or its respective Escrow Shares,
      to be held and disbursed subject to the terms and conditions of this Agreement.
      Each Initial Stockholder acknowledges that the certificate representing his,
      her
      or its Escrow Shares bears a legend reflecting the deposit of such Escrow Shares
      under this Agreement.

     

    3. Disbursement
      of the Escrow Shares.
      The
      Escrow Agent shall hold the Escrow Shares
      until one year after the consummation of the Company’s initial business
      combination (as described in the Registration Statement) (the “Escrow
      Period”),
      on
      which date it shall, upon written instructions from the Company and, only with
      respect to the Initial Stockholder’s Escrow Shares owned by an Initial
      Stockholder, each Initial Stockholder, disburse each of the Initial
      Stockholder’s Escrow Shares (and any applicable stock power) to such Initial
      Stockholder or its Permitted Transferees, as defined below; provided,
      however,
      that if
      the Escrow Agent is notified by the Company pursuant to Section 6.8 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 Escrow
      Shares; provided,
      further,
      that if
      Broadband does not exercise in full the underwriters’ over-allotment option to
      purchase an additional 937,500 Units of the Company within 45 days of the
      Effective Date of the Registration Statement, the Initial Stockholders agree
      that the Escrow Agent shall return to the Company, upon notice by the Company
      pursuant to Section 6.8 hereof, for cancellation, at no cost, the number of
      Escrow Shares held by the Initial Stockholders determined by multiplying the
      number of Escrow Shares subject to forfeiture (a maximum of 560,065 Escrow
      Shares) held by the Initial Stockholders by a fraction, (a) the numerator of
      which is 937,500 minus the number of shares of Common Stock purchased by the
      underwriters upon the exercise of the over-allotment option, and (b) the
      denominator of which is 937,500; provided further,
      that
      if, after the Company consummates its initial business combination (as described
      in the Registration Statement), the Company (or the surviving entity)
      subsequently consummates a liquidation, merger, stock exchange or other similar
      transaction that results in all of the stockholders of such entity having the
      right to exchange their shares of Common Stock for cash, securities or other
      property, then the Escrow Agent will, upon receipt of a certificate executed
      by
      the Chairman of the Board, President or other authorized officer of the Company
      (or the surviving entity), in form reasonably acceptable to the Escrow Agent,
      that such conditions have been achieved or such transaction is then being
      consummated, as applicable, release the respective Escrow Shares to the Initial
      Stockholders or their Permitted Transferees. The Escrow Agent shall have no
      further duties hereunder after the disbursement or destruction of all of the
      Escrow Shares in accordance with this Section 3.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    4. Rights
      of Initial Stockholders in Escrow Shares.
      

     

    4.1 Voting
      Rights as a Stockholder.
      Subject
      to the terms of the Insider Letter described in Section 4.4 hereof and except
      as
      herein provided, the Initial Stockholders and their Permitted Transferees shall
      retain all of their rights as stockholders of the Company during the Escrow
      Period, including, without limitation, the right to vote such
      shares.

     

    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 Escrow
      Shares shall be paid to the Initial Stockholders, but all dividends payable
      in
      stock or other non-cash property (“Non-Cash
      Dividends”)
      shall
      be delivered to the Escrow Agent to hold in accordance with the terms hereof.
      As
      used herein, the term “Escrow Shares” shall be deemed to include the Non-Cash
      Dividends distributed thereon, if any.

     

    4.3 Restrictions
      on Transfer.
      During
      the Escrow Period, no sale, transfer or other disposition may be made of any
      or
      all of the Escrow Shares except to
      persons or entities controlling, controlled by, or under common control with
      such Initial Stockholder or to any stockholder, member, partner or limited
      partner of such Initial Stockholder (the “Permitted
      Transferees”);
      in
      each case, such transferee will be subject to the same transfer restrictions
      as
      the Initial Stockholders until after the Company completes its initial business
      combination;
      provided,
      however,
      that
      such transfers may be implemented only upon the respective transferee’s written
      agreement to be bound by the terms and conditions of this Agreement and of
      the
      Insider Letter signed by Broadband, the Company and the Initial Stockholder
      transferring the Escrow Shares. During the Escrow Period, the Initial
      Stockholders and their Permitted Transferees shall not pledge or grant a
      security interest in the Escrow Shares or grant a security interest in their
      rights under this Agreement without the prior written consent of the
      Company.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4.4 Insider
      Letters.
      Each of
      the Initial Stockholders has executed a letter agreement with Broadband and
      the
      Company, dated as indicated on Exhibit
      B
      hereto,
      and which is filed as an exhibit to the Registration Statement (each, an
“Insider
      Letter”),
      respecting the rights and obligations of such Initial Stockholder in certain
      events, including but not limited to the liquidation of the
      Company.

     

    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 the Escrow Agent 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
      Escrow 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 by the Escrow
      Agent 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 Escrow Shares or it may deposit the Escrow
      Shares with the clerk of any appropriate court or it may retain the Escrow
      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 Escrow 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.

    

    5.3 Compensation.
      The
      Escrow Agent shall be entitled to the fees set forth on Schedule
      A
      hereto
      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 counsel, advisors’ and agents’ fees and disbursements and all taxes or other
      governmental charges.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    5.4 Further
      Assurances.
      From
      time to time on and after the date hereof, the Company and the Initial
      Stockholders 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 the Escrow Agent 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 thereof
      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 Escrow Shares
      held hereunder. If no new escrow agent is appointed by the Company within the
      60-day period following the giving of such notice of resignation, the Escrow
      Agent may deposit the Escrow 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 other parties hereto,
      jointly, provided, however, that such resignation shall become effective only
      upon acceptance of appointment by a successor escrow agent subject to all of
      the
      terms of this Agreement and the delivery, by the Escrow Agent, of the Escrow
      Shares to such successor escrow agent. 

     

    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.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    6. Miscellaneous.

    

    6.1 Waiver
      of Claims against Trust Account.
      Notwithstanding any other provision of this Agreement, the Escrow Agent confirms
      its understanding that the Company has established the Trust Account (as defined
      in the Prospectus) relating to the Units being sold pursuant to the Prospectus.
      The Escrow Agent acknowledges that the Trust Account will exist for the benefit
      of the Company’s public stockholders and the monies from the Trust Account may
      only be disbursed upon the occurrence of certain events, as more fully described
      in the Prospectus. The Escrow Agent agrees that neither it nor any of its
      affiliates have or will have any right, title, interest or claim in or to the
      monies in the Trust Account, and the Escrow Agent hereby waives any and all
      right, title, interest of claim of any kind in or to any distribution of any
      property held in the Trust Account that it or its affiliates may have now or
      in
      the future and hereby agrees not to seek recourse, reimbursement, payment or
      satisfaction for any claim of any kind against the Trust Account for any reason
      whatsoever, including in respect of the Company’s indemnification obligations
      set forth in this Agreement. 

     

    6.2 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 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 (whether of the State of New York
      or any other jurisdiction that would cause the application of the laws of any
      jurisdiction other than the State of New York). Each of the Company, the Initial
      Stockholders and the Escrow Agent hereby agrees that any action, proceeding
      or
      claim against it arising out of or relating in any way to this Agreement shall
      be brought and enforced in the courts of the State of New York or the United
      States District Court for the Southern District of New York, and irrevocably
      submits to such jurisdiction, which jurisdiction shall be exclusive. Each of
      the
      Company, the Initial Stockholders and the Escrow Agent hereby waives any
      objection to such exclusive jurisdiction and that such courts represent an
      inconvenient forum. Any such process or summons to be served upon each of the
      Company, the Initial Stockholders and the Escrow Agent may be served by
      transmitting a copy thereof by registered or certified mail, return receipt
      requested, postage prepaid, addressed to it at the address set forth in Section
      6.7 hereof. Such mailing shall be deemed personal service and shall be legal
      and
      binding upon each of the Company, the Initial Stockholders and the Escrow Agent
      in any action, proceeding or claim.

     

    6.3 Third
      Party Beneficiaries.
      Each of
      the Initial Stockholders hereby acknowledges that Broadband is an intended
      third
      party beneficiary of this Agreement and this Agreement may not be modified
      or
      changed without the prior written consent of Broadband. 

     

    6.4 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 Broadband
      and
      the party against whom such change or modification is to be enforced. 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.

     

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

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    6.6 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.

     

    6.7 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:

     

    If
      to the
      Company, to:

     

    Consumer
      Partners Acquisition Corp.

    11150
      Santa Monica Blvd., Suite 700

    Los
      Angeles, California 90025

    Attn:
      Ted
      Tawinganone, Chief Financial Officer

    

    If
      to an
      Initial Stockholder, to his or its address set forth in Exhibit
      B;

    

    and
      if to
      the Escrow Agent, to:

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn: Steven
      G.
      Nelson, Chairman

    

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

    

     

    Broadband
      Capital Management, LLC

    712
      Fifth
      Avenue, 49th
      Floor

    New
      York,
      New York 10019

    Attn: Michael
      Rapoport

    

    and:

    

    Mintz
      Levin Cohn Ferris Glovsky and Popeo, PC

    The
      Chrysler Building

    666
      Third
      Avenue

    New
      York,
      New York 10017

    Attn: Kenneth
      R. Koch, Esq.

     

    and:

    

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Attn:
      Mitchell S. Nussbaum, Esq.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    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.

     

    6.8 Liquidation
      of the 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.

     

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

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    WITNESS
      the execution of this Agreement as of the date first above written.

     

    CONSUMER
      PARTNERS ACQUISITION CORP.

     

    By:
       ______________________________  

    Name:
      Dana D. Messina

    Title:
      Chief Executive Officer and Chairman

     

    INITIAL
      STOCKHOLDERS:

     

     

    ARIA
      EQUITY PARTNERS, LLC 

     

    By:
      ____________________________

    Name:
      Dana D. Messina

    Title:
      Managing Partner

    

     

    PJC
      CONSUMER PARTNERS ACQUISITION I, LLC 

     

    By: ___________________________

    Name:
       _______________

    Title:
      _______________

     

    BCM
      EQUITY PARTNERS II, LLC 

     

    By: ___________________________

    Name:
       _______________

    Title:
      _______________

     

    ELLIOT-HERBST
      LP 

     

    By: ___________________________

    Name:
       Alice
      Elliot

    Title:
      Managing Director

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    
 

    __________________________________

    Ronald
      Snyder

    

    

    __________________________________

    Edward
      Bartholemy

    

    

    __________________________________

    Chad
      A.
      Jacobs

     

    

     

    CONTINENTAL
      STOCK TRANSFER

    &
      TRUST COMPANY

     

    By:
      ________________________________

    Name:
      Steven G. Nelson

    Title:
      Chairman

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    “Fee
      Schedule”

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
      B

    

    

    
      	
              Name
                and Address of 

              Initial
                Stockholder 

            	
              Number
                

              of
                Shares

            	
              Stock
                

              Certificate
                Number

            	
              Date
                of 

              Insider
                Letter

            
	 	 	 	 
	
              Aria
                Equity Partners, LLC

              11150
                Santa Monica Blvd., Suite 700

              Los
                Angeles, California 90025

            	
              1,601,934

            	
              1

            	
              [___]

            
	
              PJC
                Consumer Partners Acquisition I, LLC

              c/o
                Piper Jaffray

              800
                Nicollet Mall

              Minneapolis,
                MN 55402

            	
              1,601,934

            	
              2

            	
              [___]

            
	
              BCM
                Equity Partners II, LLC

              712
                Fifth Avenue, 49th
                Floor

              New
                York, New York 10019

            	
              889,963

            	
              3

            	
              [___]

            
	
              Elliot-Herbst
                LP

              33
                Purdy Court

              Briarcliff
                Manor, NY 10510

            	
              50,000

            	
              4

            	
              [___]

            
	
              Ronald
                Snyder

              6687
                Legend Ridge Trail

              Niwot,
                CO 80503

            	
              50,000

            	
              5

            	
              [___]

            
	
              Ed
                Bartholemy

              1
                Ultima Drive

              Newport
                Coast, CA 92657

            	
              50,000

            	
              6

            	
              [___]

            
	
              Chad
                A. Jacobs

              6
                Sleigh Ridge

              Westport,
                CT 06880

            	
              50,000

            	
              7

            	
              [___]

            

    

    

     

    
 

    11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]