Document:

Exhibit 10.9

 

BOULEVARD ACQUISITION CORP.

399 Park Avenue, 6th Floor

New York, NY 10022

 

[          ], 2014

 

Avenue Capital Management II, L.P.

399 Park Avenue, 6th Floor

New York, NY 10022

 

Re:  Administrative Services Agreement

 

Gentlemen:

 

This letter agreement by and between Boulevard Acquisition Corp. (the “Company”) and Avenue Capital Management II, L.P. (“Avenue”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on the NASDAQ Capital Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with the Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 

(i) Avenue shall make available to the Company, at 399 Park Avenue, 6th Floor, New York, NY 10022 (or any successor location of Avenue), certain office space, utilities, secretarial support and administrative services as may be reasonably required by the Company.  In exchange therefor, the Company shall pay Avenue the sum of $10,000 per month on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

Avenue hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future as a result of, or arising out of, this letter agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.

 

 

This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party.  Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.

 

This letter agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract, ort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of laws principles.

 

[Signature page follows]

 

2

 

	
 
    	
 
    	
Very   truly yours, 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
BOULEVARD   ACQUISITION CORP. 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:   
    	
 
    
	
 
    	
 
    	
 
    	
Name: Stephen   S. Trevor 

Title:   President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
AGREED TO AND ACCEPTED BY: 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
AVENUE CAPITAL   MANAGEMENT II, L.P.  
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 [            ],   its General Partner 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:   
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Name: [    ]   
    	
 
    	
 
    	
 
    
	
 
    	
Title:   [    ]
    	
 
    	
 
    	
 
    

 

[SIGNATURE PAGE TO A&R ADMINISTRATIVE SERVICES LETTER AGREEMENT]Exhibit 10.10

 

SECURITIES ASSIGNMENT AGREEMENT

 

This Securities Assignment Agreement is dated as of January 31, 2014 (this “Assignment”), by and among Boulevard Acquisition Sponsor, LLC, a Delaware limited liability company (the “Seller”), and the parties identified on the signature page hereto (each a “Buyer” and collectively, the “Buyers”).

 

WHEREAS, on the terms and subject to the conditions set forth in this Assignment, the Seller wishes to assign to the Buyers an aggregate of 43,125 shares (the “Shares”) of common stock (“Common Stock”) of Boulevard Acquisition Corp. (the “Company”), and the Buyers wish to purchase and receive the Shares from the Seller.

 

NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained in this Assignment, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Section  1              Assignment of Shares. Seller hereby assigns 14,375 Shares to each of the Buyers, of which an aggregate of 5,625 Shares shall be subject to forfeiture by the Buyers on a pro rata basis to the extent the underwriters’ over-allotment option (as described in the Company’s registration statement on Form S-1, as amended (File Number 333-193320) (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Act”), relating to an underwritten public offering by the Company (the “Public Offering”)) is not exercised in full. The Buyers have paid to the Seller an aggregate amount of Two Hundred Fifty Dollars ($250.00) (the “Purchase Price”), in consideration of the assignment of the Shares. Twenty Five Percent (25%) of the shares of Common Stock (the “Founder Earnout Shares”) assigned hereby will be subject to forfeiture by the Buyers on the fifth anniversary of the Company’s initial business combination unless following the Company’s initial business combination the last sale price of the Company’s Common Stock equals or exceeds $13.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period or the Company completes a liquidation, merger, stock exchange or other similar transaction that results in all of its stockholders having the right to exchange their shares of common stock for consideration in cash, securities or other property which equals or exceeds $13.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like).

 

Section  2              No Conflicts. Each party represents and warrants that neither the execution and delivery of this Assignment by such, nor the consummation or performance by such party of any of the transactions contemplated hereby, will with or without notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any agreement to which it is a party.

 

Section  3              Investment Representations. Each Buyer represents and warrants, with respect to himself only, as follows: such Buyer hereby acknowledges that an investment in the Shares involves certain significant risks. Such Buyer has no need for liquidity in its investment in the Shares for the foreseeable future and is able to bear the risk of that investment for an indefinite period. Such Buyer acknowledges and hereby agrees that the Shares will not be transferable under any circumstances unless registered by the Company in accordance with federal and state securities laws or sold in compliance with an exemption under such laws and such transfer complies with all applicable lock-up restrictions on such Buyer (as described in the Company’s Registration Statement relating to the Public Offering). Such Buyer further understands that any certificates evidencing the Shares bear a legend referring to the foregoing transfer restrictions.

 

The Shares are being acquired solely for such Buyer’s own account, for investment purposes only, and are not being purchased with a view to or for the resale, distribution, subdivision or fractionalization thereof; and such Buyer has no present plans to enter into any contract, undertaking, agreement or arrangement for such resale, distribution, subdivision or fractionalization. Such Buyer has been given the opportunity to (i) ask questions of and receive answers from the Seller and the Company concerning the terms and conditions of the Shares, and the business and financial condition of the Company and (ii) obtain any additional information that the Seller possesses

 

 

or can acquire without unreasonable effort or expense that is necessary to assist such Buyer in evaluating the advisability of the purchase of the Shares and an investment in the Company. Such Buyer is not relying on any oral representation made by any person as to the Company or its operations, financial condition or prospects. Such Buyer is an “accredited investor” as defined in Regulation D promulgated by the Securities and Exchange Commission under the Act. In the event such Buyer does not join the Board of Directors of the Company upon the consummation of the Public Offering (whether and either at the election of the Company or such Buyer for any reason), then the Buyer shall promptly return the Shares to the Company.

 

Section  4              Miscellaneous. This Assignment, together with the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter. This Assignment may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. This Assignment may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto. Except as otherwise provided herein, no party hereto may assign either this Assignment or any of its rights, interests, or obligations hereunder without the prior written approval of the other party.

 

[SIGNATURE PAGE FOLLOWS]

 

2

 

IN WITNESS WHEREOF, the undersigned have executed this Assignment to be effective as of the date first set forth above.

 

	
 
    	
BOULEVARD   ACQUISITION SPONSOR, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Marc Lasry
    
	
 
    	
 
    	
Name: Marc Lasry
    
	
 
    	
 
    	
Title: Managing Member
    
	
 
    	
 
    
	
 
    	
BUYERS:
    
	
 
    	
 
    
	
 
    	
/s/   Joel Citron
    
	
 
    	
Joel   Citron
    
	
 
    	
 
    
	
 
    	
/s/   Darren Thompson
    
	
 
    	
Darren   Thompson
    
	
 
    	
 
    
	
 
    	
/s/   Robert J. Campbell
    
	
 
    	
Robert   J. Campbell
    

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]