Document:

Exhibit 10.9

 

[DATE]

 

	
  iStar Acquisition Corp.

  	
   

  	
   

  
	
  1114 Avenue of the Americas, 39th Floor

  	
   

  	
   

  
	
  New York, New York 10036

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Banc of America Securities LLC

  	
   

  	
   

  
	
  9 West 57th Street

  	
   

  	
   

  
	
  New York, NY 10019

  	
   

  	
   

  

 

Re:                               Initial Public Offering

 

Ladies and Gentlemen:

 

This letter agreement is
being delivered to you in accordance with (i) the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and between iStar
Acquisition Corp., a Delaware corporation (the “Company”), and Banc of
America Securities LLC, acting as representative of the underwriters (the “Underwriters”),
relating to an underwritten initial public offering (the “IPO”) pursuant
to a Registration Statement on Form S-1 (File No. 333-147305) (the “Registration
Statement”) of the Company’s units (the “Units”), each comprised of
one share of the Company’s common stock, par value $0.0001 per share (the “Common
Stock”), and one warrant exercisable for one share of Common Stock (a “Warrant”),
(ii) the Private Placement Warrant Purchase Agreement by and among the
Company, iStar Financial Inc. and the purchasers named therein relating to the 10,000,000
Warrants (the “Private Placement Warrants”) to be purchased at a price
of $1.00 per Private Placement Warrant in a private placement immediately prior
to the completion of the IPO and (iii) the Private Placement Unit Purchase
Agreement (the “Private Placement Unit Agreement”) by and between the
Company and iStar Financial Inc. relating to the 2,500,000 Units (the “Private
Placement Units”) to be purchased by iStar Financial Inc. at a price of
$10.00 per Private Placement Unit in a private placement immediately prior to
the completion of the IPO.  Certain
capitalized terms used herein are defined in Section 1 hereof.

 

In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to
proceed with the IPO, and in recognition of the benefit that such IPO will
confer upon the undersigned as a securityholder of the Company, and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agrees with the Company and the
Underwriters as follows:

 

1.                                       As used herein,
(i) a “Business Combination” shall have the meaning given to such
term in the Amended and Restated Certificate of Incorporation of the Company; (ii) “Existing
Holders” shall mean all persons who own securities of the Company
immediately prior to the IPO, including the Company’s executive officers and
directors; (iii) “Initial Units” shall mean an aggregate of
14,375,000 Units of the Company initially issued to iStar Acquisition Investor
LLC and Jay Sugarman of which some were subsequently transferred to other
Existing Holders; (iv) “Initial Shares” shall mean an aggregate of
14,375,000 shares of Common Stock underlying the Initial Units; (v) “Component
Shares” shall mean the 2,500,000 shares of Common Stock underlying the
Private Placement Units; (vi) “Component Warrants” shall mean the
2,500,000 Warrants underlying the Private Placement Units; (vii) “IPO
Shares” shall mean the shares of Common Stock underlying the Units issued
in the Company’s IPO or any shares of Common Stock acquired in the secondary
market; (viii) “Public Stockholders” shall mean purchasers of the
Common Stock in the IPO or in the secondary market, including iStar Financial
Inc. and any of the Company’s executive officers and directors or their
affiliates to the extent that they purchase or acquire Common Stock in the IPO
or the secondary market; (ix) “Trust Fund” shall mean the trust account
or accounts established under that certain Investment Management Trust
Agreement, dated as of the date 

 

 

hereof, between the Company
and Continental Stock Transfer & Trust Company; and (x) “Extension
Period” shall mean the extension, upon stockholder approval, of the period
of up to an additional six months within which the Company must consummate its
Business Combination.

 

2.                                       If the Company
solicits approval of its stockholders of an Extended Period and/or Business
Combination, the undersigned will vote (i) all Initial Shares, all
Component Shares and any other shares of Common Stock owned by the undersigned
prior to the completion of the IPO in accordance with the majority of the votes
cast by the holders of the IPO Shares and (ii) all other shares of Common
Stock that may be acquired by the undersigned in or following completion of the
IPO in favor of such Extended Period and Business Combination.  The undersigned further agrees that in
connection with a stockholder vote to approve a proposed Business Combination,
it will vote any shares of the Company’s Common Stock that they acquire in or
following the IPO in favor of an amendment to the Company’s Amended and
Restated Certificate of Incorporation providing for the Company’s perpetual
existence following the consummation of the Business Combination.

 

3.                                       [In the event
that the Company fails to consummate a Business Combination within 24 months
from the date of the final prospectus (or up to 30 months if the public
stockholders approve the Extended Period pursuant to the terms of the Amended
and Restated Certificate of Incorporation of the Company), the undersigned will
take all reasonable actions within the undersigned’s power to (a) cause
the Trust Fund to be liquidated and, after paying or reserving for payment of the
Company’s liabilities, distributed to the holders of the IPO Shares and the
holders of the Component Shares as soon as reasonably practicable and (b) cause
the Company to liquidate as soon as reasonably practicable (the earliest date
on which the conditions in clauses (a) and (b) are both
satisfied being the “Liquidation Date”), in each case in accordance with
the terms of the Amended and Restated Certificate of Incorporation of the
Company and all applicable laws.](1)

 

4.                                       The undersigned
hereby waives any and all right, title, interest or claim of any kind (“Claim”)
to participate in any liquidating distribution of the Trust Fund as part of the
Company’s plan of distribution with respect to any shares of Common Stock owned
by the undersigned prior to the completion of the IPO, provided that the
foregoing shall not apply to any Component Shares, IPO Shares or any shares of
Common Stock acquired in the secondary market by the undersigned.  The undersigned hereby waives any Claim the
undersigned may have in the future as a result of, or arising out of, any
contracts or agreements with the Company and will not seek recourse against the
Trust Fund for any reason whatsoever, including any tort claims.  The undersigned hereby agrees that the
Company shall be entitled to reimbursement from the undersigned for any
distribution of the Trust Fund or any other amounts distributed by the Company
in connection with a liquidating distribution received by the undersigned to
which the undersigned was not entitled under this letter agreement.

 

5.                                       [The undersigned
agrees to indemnify and hold harmless the Company against any and all loss,
liability, claims, damage and expense whatsoever (including, but not limited
to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened,
or any claim whatsoever) (collectively, “Damages”) to which the Company
may become subject as a result of any claim by any (a) vendor or service
provider who is owed money by the Company for services rendered or products
sold to the Company and (b) acquisition target, but in each case only to
the extent (i) such vendor, service provider, or acquisition target has
not executed a waiver of rights or claims to the Trust Fund, and (ii) necessary
to ensure that such Damages do not reduce the amount in the Trust Fund (or, in
the event that such claim arises after the distribution of the Trust Fund, to
the extent necessary to ensure that the Company’s former stockholders are not
liable for 

 

(1)          This section of the
agreement will appear only in the agreement executed by the directors and
officers of the Company.

 

2

 

any amount of such Damages)
available for distribution to stockholders upon liquidation.  For avoidance of doubt, the foregoing
indemnification obligation of the undersigned shall not apply to claims under
the Company’s indemnification of the underwriters of the offering (including,
without limitation, the Underwriters) against certain liabilities, including
liabilities under the Securities Act of 1933, as amended (the “Securities
Act”).](2)

 

6.                                       [In the case of
the Company’s dissolution and liquidation, the undersigned understands that the
Company expects that all costs and expenses associated with implementing the
Company’s plan of distribution as well as payments to any creditors, will be
funded from amounts remaining out of the $200,000 of proceeds from the IPO held
outside the Trust Fund and from the $6 million in interest income on the
balance of the Trust Fund that will be released to the Company to fund its
working capital requirements, subject to adjustment as set forth in the Amended
and Restated Certificate of Incorporation of the Company.  The undersigned further understands that if
those funds are not sufficient to cover the costs and expenses of dissolution
and liquidation of the Company, the undersigned will indemnify and hold
harmless the Company against such additional costs and expenses of dissolution
and liquidation, excluding any special, indirect or consequential costs or
expenses, such as litigation pertaining to the Company’s dissolution and
liquidation.](3)

 

7.                                       The undersigned
acknowledges and agrees that the Company will not consummate any Business
Combination with an entity that is affiliated with any Existing Holder or any
of their respective affiliates; provided that
the Company may consummate a Business Combination with such an entity if the
Company receives unanimous consent from the disinterested directors of the
Company and obtains an opinion from an unaffiliated, independent investment
banking firm, which is a member of the Financial Industry Regulatory Authority
(“FINRA”), that the Business Combination is fair to the Company’s
stockholders from a financial point of view.

 

8.                                       Neither the
undersigned, any member of the family of the undersigned, nor any affiliate of
the undersigned will be entitled to receive, and no such person will accept,
any finder’s fee, reimbursement or cash payment from the Company for services
rendered to the Company prior to or in connection with the consummation of the
Business Combination, other than (i) repayment of loans in the amount of
$100,000 made to the Company by each of iStar Financial Inc. and Jay Sugarman
for the payment of offering-related and organizational expenses, (ii) a
payment of an aggregate of $7,500 per month to iStar Financial Inc. or its
subsidiary for the Company’s use of its offices, utilities and administrative
support and (iii) reimbursement for any reasonable out-of-pocket expenses incurred
by the Company’s executive officers and directors in connection with the
Company’s activities, such as seeking and consummating a Business Combination, provided that such reimbursement has been approved by the
board of directors of the Company.

 

9.                                       Neither the
undersigned, any member of the family of the undersigned, nor any affiliate of
the undersigned will be entitled to receive or accept a finder’s fee,
consulting fee or any other compensation from the Company or any other entity
or person in the event the undersigned, any member of the family of the
undersigned or any affiliate of the undersigned originates a Business
Combination, except as described in the Registration Statement.

 

10.                                 The undersigned
hereby agrees that, on a date that is within the five-day period following the
date that is 45 days after the date of the Underwriting Agreement or, if
earlier, the date the Underwriters terminate their over-allotment option (as
defined in the Underwriting Agreement) pursuant to the terms of the
Underwriting Agreement, the undersigned will forfeit by redemption to the
Company, 

 

(2)          This section of the
agreement will appear only in the agreement executed by  iStar Financial Inc.

(3)          This section of the
agreement will appear only in the agreement executed by  iStar Financial Inc.

 

3

 

and the Company shall redeem
from the undersigned, at no cost, the number of shares of Common Stock
determined by multiplying (a) the product of (i) 1,875,000,
multiplied by (ii) a fraction, (x) the numerator of which is the
number of Initial Shares held by the undersigned, and (y) the denominator
of which is the number of Initial Shares held by all Existing Holders, by (b) a
fraction, (i) the numerator of which is 7,500,000 minus the number of
shares of Common Stock purchased by the Underwriters upon the exercise of their
over-allotment option, and (ii) the denominator of which is 7,500,000.

 

11.                                 [The undersigned
agrees to serve as [President,
Chief Executive Officer and Secretary]  [Chairman of the Board]  [as a member of the Board of Directors of the Company]](4) until the earlier of the consummation by the Company
of a Business Combination or the Liquidation Date; provided,
however, that nothing herein shall be
construed as providing a right of the undersigned to maintain any position if
removed by proper corporate action.  The
undersigned’s biographical information furnished to the Company and attached
hereto as Exhibit A is true and accurate in all material respects,
does not omit any material information with respect to the undersigned’s
background and contains all of the information required to be disclosed
pursuant to Section 401 of Regulation S-K, promulgated under the
Securities Act.  The undersigned’s FINRA
questionnaire furnished to the Company and the Underwriters and attached hereto
as Exhibit B is true and accurate in all material respects.](5)   The undersigned represents and warrants that:

(a)                                  the undersigned
is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any
act or practice relating to the offering of securities in any jurisdiction;

 

(b)                                 the undersigned
has never been convicted of or pleaded guilty to any crime (i) involving
any fraud or (ii) relating to any financial transaction or handling of
funds of another person, or (iii) pertaining to any dealings in any
securities and the undersigned is not currently a defendant in any such
criminal proceeding;

 

(c)                                  the undersigned
has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license
or registrations denied, suspended or revoked; and

 

(d)                                 [the undersigned
is capable of funding a shortfall in the Trust Fund to satisfy its indemnification
obligation under Section 5 above.](6)

 

12.                                 With respect to
the undersigned’s Initial Units, Warrants underlying the Initial Units (and Common
Stock issued upon exercise thereof) and Initial Shares (collectively, the
undersigned’s “Initial Securities”), the undersigned shall not (a) sell,
offer to sell, contract or agree to sell, hypothecate, pledge, grant any option
to purchase or otherwise dispose of or agree to dispose of, directly or
indirectly, or, except as provided in that certain Registration Rights
Agreement dated as of the date hereof, file (or participate in the filing of) a
registration statement with the SEC in respect of, or establish or increase a
put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the SEC promulgated
thereunder with respect to, any Initial Securities, (b) enter into any
swap or other arrangement that transfers to another, in whole or in part, any
of the economic consequences of ownership of Initial Securities, whether any
such transaction is to be settled by delivery of shares of Common Stock, 

 

(4)          This section will reflect
the relationship of the insider to the Company, as applicable.

(5)          This section of the
agreement will appear only in the agreements executed by the directors and
officers of the Company.

(6)          This section of the
agreement will appear only in the agreement executed by  iStar Financial Inc.

 

4

 

in cash or otherwise, or (c) publicly
announce an intention to effect any transaction specified in clause (a) or
(b) until one year after the consummation of an initial Business
Combination (the “Insider Lock-Up Period”), except that if (a) during
the last 17 days of the Insider Lock-Up Period, the Company issues material
news or a material event relating to the Company occurs or (b) prior to
the expiration of the Insider Lock-Up Period, the Company announces that
material news or a material event will occur during the 16-day period beginning
on the last day of the Insider Lock-Up Period, then the Insider Lock-Up Period
shall end on and include the 18th day following the date of the issuance of the
material news or the occurrence of a material event.  Notwithstanding the foregoing, the
undersigned may transfer the undersigned’s Initial Securities during the
applicable Insider Lock-Up Period (i) to a member of the undersigned’s
immediate family, (ii) to an affiliate of the undersigned, (iii) to a
charitable organization, (iv) to a trust, the beneficiary of which is a
member of the undersigned’s immediate family, (v) by virtue of the laws of
descent and distribution upon death or dissolution of the undersigned, (vi) to
other officers or directors of the Company, (vii) to current and former
directors, officers and employees of the undersigned, (viii) pursuant to a
qualified domestic relations order, or (ix) in the event of a merger,
capital stock exchange, stock purchase, asset acquisition or other similar
transaction which results in all the Company’s stockholders having the right to
exchange their shares of Common Stock for cash, securities or other property
subsequent to the Company’s consummating a Business Combination with an
acquisition target; provided, however, that the permissive transfers pursuant to
clauses (i) — (viii) may be implemented only upon the respective
transferee’s written agreement to be bound by the terms and conditions of this
Agreement.  During the applicable Insider
Lock-Up Period, the undersigned shall not grant a security interest in the
undersigned’s Initial Securities.

 

13.                                 [With respect to
the undersigned’s Private Placement Warrants (and Common Stock issued upon exercise
thereof), Private Placement Units, Component Shares and Component Warrants (and
Common Stock issued upon exercise thereof) (collectively, the undersigned’s “Private
Placement Securities”), the undersigned shall not (a) sell, offer to
sell, contract or agree to sell, hypothecate, pledge, grant any option to
purchase or otherwise dispose of or agree to dispose of, directly or
indirectly, or, except as provided in that certain Registration Rights
Agreement dated as of the date hereof, file (or participate in the filing of) a
registration statement with the SEC in respect of, or establish or increase a
put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the SEC promulgated
thereunder with respect to, any Private Placement Securities, (b) enter
into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of Private Placement
Securities, whether any such transaction is to be settled by delivery of shares
of Common Stock or other securities, in cash or otherwise, or (c) publicly
announce an intention to effect any transaction specified in clause (a) or
(b) until the consummation of an initial Business Combination (the “Private
Placement Securities Lock-Up Period”), except that if (a) during the
last 17 days of the Private Placement Securities Lock-Up Period, the Company
issues material news or a material event relating to the Company occurs or (b) prior
to the expiration of the Private Placement Securities Lock-Up Period, the
Company announces that material news or a material event will occur during the
16-day period beginning on the last day of the Private Placement Securities
Lock-Up Period, then the Private Placement Securities Lock-Up Period shall end
on and include the 18th day following the date of the issuance of the material
news or the occurrence of the material event. 
Notwithstanding the foregoing, the undersigned may transfer the
undersigned’s Private Placement Securities during the applicable Private
Placement Securities Lock-Up Period (i) to a member of the undersigned’s
immediate family, (ii) to an affiliate of the undersigned, (iii) to a
charitable organization, (iv) to a trust, the beneficiary of which is a
member of the undersigned’s immediate family, (v) by virtue of the laws of
descent and distribution upon death or dissolution of the undersigned, (vi) to
other officers or directors of the Company, (vii) to current and former
directors, officers and employees of the undersigned, (viii) pursuant to a
qualified domestic relations order, or (ix) in the event of a merger, capital
stock exchange, stock purchase, asset acquisition or other similar transaction
which results in all the Company’s stockholders having the right to exchange 

 

5

 

their shares of Common Stock
for cash, securities or other property subsequent to the Company’s consummating
a Business Combination with an acquisition target; provided,
however, that the permissive transfers
pursuant to clauses (i) — (viii) may be implemented only upon
the respective transferee’s written agreement to be bound by the terms and
conditions of this Agreement.  During the
applicable Private Placement Securities Lock-Up Period, the undersigned shall
not grant a security interest in the undersigned’s Placement Securities.](7)

 

14.                                 The undersigned
acknowledges the Warrants underlying the Initial Units, Private Placement
Warrants and Component Warrants will be subject to the transfer restrictions
set forth in that certain warrant agreement between the Company and Continental
Stock Transfer & Trust Company.

 

15.                                 The undersigned
has full right and power, without violating any agreement by which the
undersigned is bound (including, without limitation, any non-competition or non-solicitation
agreement with any employer or former employer), to enter into this letter
agreement and serve as [[President,
Chief Executive Officer and Secretary,]  [Chairman of the Board,]  [as a member of the Board of Directors of the Company]],(8) and hereby consents to being named in the
Registration Statement as a[n]  [officer][director] of the
Company.

 

16.                                 The undersigned
agrees that until the consummation of a Business Combination or the cessation
of the corporate existence of the Company, whichever is earlier, the
undersigned will not participate in the formation of any blank check company or
any entity commonly regarded as a “special purpose acquisition company.”

 

17.                                 [The undersigned
agrees that it will not propose any amendment to Article Fifth of the
Company’s Amended and Restated Certificate of Incorporation or support, endorse
or recommend any proposal that stockholders amend any provisions of Article Fifth,
other than in connection with a proposed Extension Period or Business
Combination.  The undersigned further
agrees that prior to the consummation of a Business Combination, Article Sixth
of the Company’s Amended and Restated Certificate of Incorporation may not be
amended without the approval of the proposed amendment by the affirmative
unanimous vote of the IPO Shares.](9)

 

18.                                 The undersigned
acknowledges and understands that the Company will rely upon the agreements,
representations and warranties set forth herein in proceeding with the IPO.

 

19.                                 This letter
agreement shall be binding on the undersigned and such person’s respective
successors, heirs, personal representatives and assigns.  This letter agreement shall terminate on the
earlier of (a) the consummation of the Business Combination, and (b) the
Liquidation Date; provided that such termination
shall not relieve the undersigned from liability for any breach of this
agreement prior to its termination, [and provided  further that Section 5
of this letter agreement shall survive a termination pursuant to
clause (b).](10)

 

20.                                 This letter
agreement constitutes the entire agreement and understanding between the
parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings (whether written or oral) between the parties
relating to such subject matter.  None of
the parties shall be 

 

(7)          This section of
the agreement will appear only in the agreements executed by iStar Financial
Inc. and officers of the Company.

(8)          This section
will reflect the relationship of the insider to the Company, as applicable.

(9)          This section of
the agreement will appear only in the agreements executed by the directors and
officers of the Company.

(10)    This section of the
agreement will appear only in the agreement executed by  iStar Financial Inc.

 

6

 

liable or bound to any other
party in any manner by any representations and warranties or covenants relating
to such subject matter except as specifically set forth herein.

 

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

 

22.                                 No term or
provision of this letter agreement may be amended, changed, waived, altered or
modified except by written instrument executed and delivered by the party
against whom such amendment, change, waiver, alteration or modification is to
be enforced.

 

23.                                 The undersigned
hereby agrees that any action, proceeding or claim against the undersigned
arising out of, or relating in any way to this letter 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.

 

24.                                 The undersigned
hereby irrevocably and unconditionally waives the right to a trial by jury in
any action, suit, counterclaim or other proceeding (whether based on contract,
tort or otherwise) arising out of, connected with or relating to this letter
agreement.

 

[Remainder of page intentionally left blank]

 

7

 

	
   

  	
   

  
	
   

  	
  [Name
  of Existing Holder]

  
	
   

  	
   

  
	
  Accepted
  and agreed:

  	
   

  
	
   

  	
   

  
	
  iSTAR
  ACQUISITION CORP.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name: Jay Nydick

  	
   

  
	
   

  	
  Title: President and Chief
  Executive Officer

  	
   

  
	
   

  	
   

  
	
  BANC
  OF AMERICA SECURITIES LLC

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

8Exhibit 10.12

 

This REGISTRATION RIGHTS AGREEMENT
(this “Agreement”) is entered into as of •, 2008, by and among
iSTAR ACQUISITION CORP, a Delaware corporation (the “Company”), and the undersigned
parties listed under Investors on the signature page hereto (each, an “Investor”
and collectively, the “Investors”).

 

WHEREAS,
as of the date hereof, the Investors hold an aggregate of 14,375,000 initial
units of the Company (the “Initial Units”), each Initial Unit consisting
of one share of Common Stock (the “Initial Shares”) and one warrant
exercisable to purchase one share of Common Stock (the “Initial Warrants”);
and

 

WHEREAS,
immediately prior to the completion of the Company’s initial public offering
(the “IPO”), the Company will issue in a private placement pursuant to
binding agreements with certain of the Investors an aggregate of 11,250,000
warrants (the “Insider Warrants”), each exercisable to purchase one
share of Common Stock;

 

WHEREAS,
immediately prior to the completion of the IPO, the Company will issue in a
private placement pursuant to a binding agreement with one of the Investors an
aggregate of 25,000,000 units (the “Private Placement Units’), each
Private Placement Unit consisting of one share of Common Stock (the “Private
Placement Shares”) and one warrant exercisable to purchase one share of
Common Stock (the “Private Placement Warrants);

 

WHEREAS,
in connection with the IPO, iStar Financial Inc. has entered into an agreement
with Banc of America Securities LLC, as representative of the underwriters,
pursuant to which iStar Financial Inc. has agreed to place limit orders for up
to $25,000,000 of shares of Common Stock (the “Aftermarket Shares”)
commencing two business days after the Company files a preliminary proxy
statement relating to its Business Combination (as defined in the Company’s
Amended and Restated Certificate of Incorporation) and ending on the business
day immediately preceding the record date for the meeting of stockholders at
which the Business Combination is to be voted upon by the Company’s
stockholders, or earlier in certain circumstances;

 

WHEREAS,
iStar Financial Inc. has further agreed to apply any portion of such
$25,000,000 not used for open market purchases of Aftermarket Shares to
purchase from the Company such number of units (the “Co-Investment Units”),
each Co-Investment Unit consisting of one share of Common Stock (the “Co-Investment
Shares”) and one warrant exercisable to purchase one share of Common Stock
(the “Co-Investment Warrants”); and

 

WHEREAS,
the Investors and the Company desire to enter into this Agreement to provide
the Investors with certain rights relating to the registration of the Company’s
securities held by them.

 

NOW,
THEREFORE, in consideration of the
mutual covenants and agreements set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

1.                                       DEFINITIONS.  The
following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified
from time to time.

 

“Board”
means the board of directors of the Company.

 

 

“Business
Combination” shall have the meaning set forth in the Company’s amended and
restated certificate of incorporation, as amended, restated or otherwise
modified from time to time.

 

“Co-Investment
Shares” is defined in the preamble to this Agreement.

 

“Co-Investment
Units” is defined in the preamble to this Agreement.

 

“Co-Investment
Warrants” is defined in the preamble to this Agreement.

 

“Commission”
means the Securities and Exchange Commission, or any other federal agency then
administering the Securities Act or the Exchange Act.

 

“Common
Stock” means the common stock, par value $0.0001 per share, of the Company.

 

“Company”
is defined in the preamble to this Agreement.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Demanding
Holder” is defined in Section 2.1.1.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be
in effect at the time.

 

“Form S-3”
is defined in Section 2.3.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Initial
Shares” is defined in the preamble to this Agreement.

 

“Initial
Units” is defined in the preamble to this Agreement.

 

“Initial
Warrants” is defined in the preamble to this Agreement.

 

“Insider
Warrants”  is defined in the preamble to this Agreement.

 

“Investor”
is defined in the preamble to this Agreement.

 

“Investor
Indemnified Party” is defined in Section 4.1.

 

“majority-in-interest”
means holders of at least 50.1% of the Registrable Securities.

 

“Maximum
Threshold” is defined in Section 2.1.4.

 

“Notices”
is defined in Section 6.4.

 

“Person”
means an individual, a partnership, a limited liability company, a joint
venture, a corporation, a trust, an unincorporated organization, a government
or any department or agency thereof or any entity similar to any of the
foregoing.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

2

 

“Private
Placement Shares” is defined in the preamble to this Agreement.

 

“Private
Placement Units” is defined in the preamble to this Agreement.

 

“Private
Placement Warrants” is defined in the preamble to this Agreement.

 

“Pro Rata”
is defined in Section 2.1.4.

 

“Register,”
“Registered” and “Registration” mean a registration effected by
preparing and filing a registration statement or similar document in compliance
with the requirements of the Securities Act, and such registration statement
becoming effective.

 

“Registrable
Securities” mean, collectively, (i) the Initial Units, (ii) the
Initial Unit Shares, (iii) the Initial Warrants, including any shares of
Common Stock issuable upon exercise of the Initial Warrants, (iv) the
Insider Warrants, including any shares of Common Stock issuable upon exercise
of the Insider Warrants, (v) the Private Placement Units, (vi) the
Private Placement Shares, (vii) the Private Placement Warrants, including
any shares of Common Stock issuable upon exercise of the Private Placement
Warrants, (viii) the Aftermarket Shares, (ix) the Co-Investment
Units, (x) the Co-Investment Shares and (xi) the Co-Investment Warrants,
including any shares of Common Stock issuable upon exercise of the
Co-Investment Warrants. Registrable Securities include any warrants, shares of
capital stock or other securities of the Company issued as a dividend or other
distribution with respect to or in exchange for or in replacement of such
shares of Common Stock. As to any particular Registrable Securities, such
securities shall cease to be Registrable Securities when: (a) a
Registration Statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been
sold, transferred, disposed of or exchanged in accordance with such
Registration Statement; (b) such securities shall have been otherwise
transferred, new certificates for them not bearing a legend restricting further
transfer shall have been delivered by the Company and subsequent public
distribution of them shall not require registration under the Securities Act; (c) such
securities shall have ceased to be outstanding; or (d) the Registrable
Securities are salable under Rule 144(k).

 

“Registration
Statement” means a registration statement filed by the Company with the
Commission in compliance with the Securities Act and the rules and
regulations promulgated thereunder for a public offering and sale of the Common
Stock or other securities of the Company (other than a registration statement (a) on
Form S-4 or Form S-8, or their successors, (b) covering only
securities proposed to be issued in exchange for securities or assets of
another entity, (c) for an exchange offer or offering of securities solely
to the Company’s existing stockholders, (d) for an offering of debt that
is convertible into equity securities of the Company, or (e) for a
dividend reinvestment plan).

 

“Release
Date” means (i) in the case of the Initial Units, the Initial Shares,
the Initial Warrants, including any shares of Common Stock issuable upon
exercise of the Initial Warrants, the Aftermarket Shares, the Co-Investment
Units, the Co-Investment Shares and the Co-Investment Warrants, including any
shares of Common Stock issuable upon exercise of the Co-Investment Warrants,
the first anniversary date of the completion by the Company of a Business
Combination and (ii) in the case of the Insider Warrants, including any
shares of Common Stock issuable upon exercisable of such Insider Warrants, the
Private Placement Units, the Private Placement Shares and the Private Placement
Warrants, including any shares of Common Stock issuable upon exercise of the Private
Placement Warrants, the day of the completion by the Company of a Business
Combination.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be
in effect at the time.

 

3

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal
in an underwritten offering and not as part of such dealer’s market-making
activities.

 

2.                                       REGISTRATION
RIGHTS.

 

2.1.                              Demand
Registration.

 

2.1.1.                     Request
for Registration.  At any time commencing 90 days prior to the
applicable Release Date, and from time to time thereafter, the holders of at
least a majority-in-interest of the Registrable Securities, on an as-converted
to Common Stock basis, held by the Investors or the permitted transferees of
the Investors, may make a written demand for registration under the Securities
Act of all or part of their Registrable Securities (a “Demand Registration”).
Any demand for a Demand Registration shall specify the number of Registrable
Securities proposed to be sold and the intended method(s) of distribution
thereof. The Company will notify all holders of Registrable Securities of the
demand, and each holder of Registrable Securities who wishes to include all or
a portion of such holder’s Registrable Securities in the Demand Registration
(each such holder including Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company in writing within ten (10) days
after the receipt by the holder of the notice from the Company. The Company may
include in such registration additional securities of the class or classes of
Registrable Securities to be registered thereunder, including securities to be
sold for the Company’s own account or the account of persons who are not
holders of Registrable Securities. Upon receipt by the Company of any such
notice, the Demanding Holders shall be entitled to have their Registrable
Securities included in the Demand Registration, subject to Sections 2.1.3,
2.1.4, 3.4 and the provisos set forth in Section 3.1.1. The Company shall
not be obligated to effect more than an aggregate of three (3) Demand
Registrations under this Section 2.1.1 in respect of Registrable
Securities.

 

2.1.2.                     Effective
Registration.  A registration will not count as a Demand
Registration until the Registration Statement filed with the Commission with
respect to such Demand Registration has been declared effective and the Company
has complied with all of its material obligations under this Agreement with
respect thereto; provided, however,
that if, after such Registration Statement has been declared effective, the
offering of Registrable Securities pursuant to a Demand Registration is
interfered with by any stop order or injunction of the Commission or any other
governmental agency or court, the Registration Statement with respect to such
Demand Registration will be deemed not to have been declared effective, unless
and until such stop order or injunction is removed, rescinded or otherwise
terminated; provided, further,
that the Company shall not be obligated to file a second Registration Statement
until a Registration Statement that has been filed is counted as a Demand
Registration or is terminated.

 

2.1.3.                     Underwritten
Offering.  If a majority-in-interest of the Demanding Holders, on
an as-converted to Common Stock basis, so elects and such holders so advise the
Company as part of their written demand for a Demand Registration, the offering
of such Registrable Securities pursuant to such Demand Registration shall be in
the form of an underwritten offering. In such event, the right of any holder to
include its Registrable Securities in such registration shall be conditioned
upon such holder’s participation in such underwriting and the inclusion of such
holder’s Registrable Securities in the underwriting to the extent provided
herein. All Demanding Holders proposing to distribute their securities through
such underwriting shall enter into an underwriting agreement in customary form
with the Underwriter or Underwriters selected for such underwriting by a
majority-in-interest, on an as-converted to Common Stock basis, of the
Demanding Holders initiating the Demand Registration, which Underwriter or
Underwriters shall be reasonably acceptable to the Company.

 

4

 

2.1.4.                     Reduction
of Offering.  If the managing Underwriter or Underwriters for a
Demand Registration that is to be an underwritten offering advises the Company
and the Demanding Holders in writing that the dollar amount or number of
Registrable Securities which the Demanding Holders desire to sell, taken
together with all other shares of Common Stock or other securities which the
Company desires to sell and the shares of Common Stock or other securities, if
any, as to which registration has been requested pursuant to written
contractual piggy-back registration rights held by other stockholders of the
Company who desire to sell, exceeds the maximum dollar amount or maximum number
of securities that can be sold in such offering without adversely affecting the
proposed offering price, the timing, the distribution method, or the
probability of success of such offering (such maximum dollar amount or maximum
number of securities, as applicable, the “Maximum Threshold”), then the
Company shall include in such registration: (a) first, the Registrable
Securities as to which Demand Registration has been requested by the Demanding
Holders (pro rata in accordance with the number
of Registrable Securities which such Demanding Holders have requested be
included in such registration, regardless of the number of shares held by each
such Person (such proportion is referred to herein as “Pro Rata”)) that
can be sold without exceeding the Maximum Threshold; (b) second, to the
extent that the Maximum Threshold has not been reached under the foregoing
clause (a), the shares of Common Stock or other securities that the
Company desires to sell that can be sold without exceeding the Maximum
Threshold; and (c) third, to the extent that the Maximum Threshold
has not been reached under the foregoing clauses (a) and (b), the shares
of Common Stock or other securities for the account of other Persons that the
Company is obligated to register pursuant to written contractual arrangements
with such Persons and that can be sold without exceeding the Maximum Threshold;
and (d) fourth, to the extent that the Maximum Threshold has not been
reached under the foregoing clauses (a), (b) and (c), the shares of Common
Stock that other shareholders desire to sell that can be sold without exceeding
the Maximum Threshold to the extent that the Company, in its sole discretion,
wishes to permit such sales pursuant to this clause (d).

 

2.1.5.                     Withdrawal.  If
a majority-in-interest, on an as-converted to Common Stock basis, of the
Demanding Holders disapproves of the terms of any underwriting or are not
entitled to include all of their Registrable Securities in any offering, such
majority-in-interest of the Demanding Holders may elect to withdraw from such
offering by giving written notice to the Company and the Underwriter or
Underwriters of their request to withdraw prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Demand
Registration. If the majority-in-interest of the Demanding Holders withdraws
from a proposed offering relating to a Demand Registration, then such
registration shall not count as a Demand Registration provided for in Section 2.1,
provided that the majority-in-interest
of the Demanding Holders electing to so withdraw from the offering pays all
costs and expenses incurred by the Company in connection with such withdrawn
Demand Registration.

 

2.1.6.                     Permitted
Delays.  The Company shall be entitled to postpone, for up to
sixty (60) days, the filing of any Registration Statement under this Section 2.1,
if, (a) at any time prior to the filing of such Registration Statement,
the Board determines, in its good faith business judgment, that such
registration and offering would materially and adversely affect any financing,
acquisition, corporate reorganization, or other material transaction involving
the Company, and (b) the Company delivers to the Demanding Holders written
notice thereof within ten (10) business days of the date of receipt of
such request for Demand Registration; provided that all such periods of
postponement may not exceed 180 days during any 365-day period. In addition, if
the filing of a Registration Statement under this Section 2.1 at any time
would require inclusion in such Registration Statement of financial statements
that are unavailable to the Company for reasons beyond the Company’s control,
the Company may, upon giving prompt written notice of 

 

5

 

such action to
the Demanding Holders, delay the filing of such Registration Statement for the
shortest possible period of time determined in good faith by the Company to be
necessary for such purpose.

 

2.2.                              Piggy-Back
Registration.

 

2.2.1.                     Piggy-Back
Rights.  If at any time on or after the applicable Release Date,
the Company proposes to file a Registration Statement under the Securities Act
with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the
Company for its own account or for stockholders of the Company for their
account, then the Company shall (a) give written notice of such proposed
filing to the holders of Registrable Securities as soon as practicable but in
no event less than ten (10) days before the anticipated filing date, which
notice shall describe the amount and type of securities to be included in such
offering, the intended method(s) of distribution, and the name of the
proposed managing Underwriter or Underwriters, if any, of the offering, and (b) offer
to the holders of Registrable Securities in such notice the opportunity to
register the sale of such number of Registrable Securities as such holders may
request in writing within five (5) days following receipt of such notice
(a “Piggy-Back Registration”). If at any time after giving written
notice of its intention to register any securities and prior to the effective
date of the Registration Statement filed in connection with such registration,
the Company shall determine for any reason not to register or to delay
registration of such securities, the Company may, at its election, give written
notice of such determination to each holder of Registrable Securities and, (x) in
the case of a determination not to register, shall be relieved of its
obligation to register any Registrable Securities in connection with such
registration, and (y) in the case of a determination to delay registering,
shall be permitted to delay registering any Registrable Securities for the same
period as the delay in registering such other securities. The Company shall
cause such Registrable Securities to be included in such registration and shall
use reasonable efforts to cause the managing Underwriter or Underwriters of a
proposed underwritten offering to permit the Registrable Securities requested
to be included in a Piggy-Back Registration on the same terms and conditions as
any similar securities of the Company and to permit the sale or other
disposition of such Registrable Securities in accordance with the intended
method(s) of distribution thereof. All holders of Registrable Securities
proposing to distribute their securities through a Piggy-Back Registration that
involves an Underwriter or Underwriters shall enter into an underwriting
agreement in customary form with the Underwriter or Underwriters selected for
such Piggy-Back Registration.

 

2.2.2.                     Reduction
of Offering.  If the managing Underwriter or Underwriters for a
Piggy-Back Registration that is to be an underwritten offering advises the
Company and the holders of Registrable Securities in writing that the dollar
amount or number of shares of Common Stock or other securities which the
Company desires to sell, taken together with shares of Common Stock or other
securities, if any, as to which registration has been demanded pursuant to
written contractual arrangements with Persons other than the holders of
Registrable Securities hereunder, the Registrable Securities as to which
registration has been requested under this Section 2.2, and the shares of
Common Stock or other securities, if any, as to which registration has been
requested pursuant to the written contractual piggy-back registration rights of
other stockholders of the Company, exceeds the Maximum Threshold, then the
Company shall include in any such registration:

 

(a)                                  If
the registration is undertaken for the Company’s account: (i) first, the
shares of Common Stock or other securities that the Company desires to sell
that can be sold without exceeding the Maximum Threshold; (ii) second, to
the extent that the 

 

6

 

Maximum Threshold has not been reached under the foregoing
clause (i), the shares of Common Stock or other securities, if any,
comprised of Registrable Securities, as to which registration has been
requested pursuant to the applicable written contractual piggy-back
registration rights of such security holders, Pro Rata, that can be sold
without exceeding the Maximum Threshold; (iii) third, to the extent that
the Maximum Threshold has not been reached under the foregoing clauses (i) and
(ii), the shares of Common Stock or other securities for the account of other
Persons that the Company is obligated to register pursuant to written
contractual piggy-back registration rights with such Persons and that can be
sold without exceeding the Maximum Threshold; and

 

(b)                                 If
the registration is a “demand” registration undertaken at the demand of Persons
other than the holders of Registrable Securities, (i) first, the shares of
Common Stock or other securities for the account of the demanding Persons that
can be sold without exceeding the Maximum Threshold; (ii) second, to the
extent that the Maximum Threshold has not been reached under the foregoing
clause (i), the shares of Common Stock or other securities that the
Company desires to sell that can be sold without exceeding the Maximum
Threshold; (iii) third, to the extent that the Maximum Threshold has not
been reached under the foregoing clauses (i) and (ii), the shares of
Common Stock or other securities, if any, comprised of Registrable Securities,
Pro Rata, as to which registration has been requested pursuant to the terms
hereof, that can be sold without exceeding the Maximum Threshold; (iv) fourth,
to the extent that the Maximum Threshold has not been reached under the
foregoing clauses (i), (ii) and (iii), the shares of Common Stock or
other securities, if any, for the account of other Persons that the Company is
obligated to register pursuant to written contractual piggy-back registration
rights with such Persons that can be sold without exceeding the Maximum
Threshold.

 

2.2.3.                     Withdrawal.  Any
holder of Registrable Securities may elect to withdraw such holder’s request
for inclusion of Registrable Securities in any Piggy-Back Registration by
giving written notice to the Company of such request to withdraw prior to the
effectiveness of the Registration Statement. The Company (whether on its own
determination or as the result of a withdrawal by Persons making a demand
pursuant to written contractual obligations) may withdraw a Registration
Statement at any time prior to the effectiveness of the Registration Statement
without thereby incurring any liability to the holders of Registrable
Securities. Notwithstanding any such withdrawal, the Company shall pay all
expenses incurred by the holders of Registrable Securities in connection with
such Piggy-Back Registration as provided in Section 3.3.

 

2.3.                              Registrations
on Form S-3.  The holders of Registrable Securities may at
any time and from time to time, request in writing that the Company register
the resale of any or all of such Registrable Securities on Form S-3 or any
similar short-form registration which may be available at such time (“Form S-3”);
provided, however,
that (i) the Company shall not be obligated to effect such request through
an underwritten offering and (ii) the Company shall not be obligated to
effect such a request if the Company has within the preceding twelve (12)
months effected a registration on Form S-3. Upon receipt of such written
request, the Company will give written notice of the proposed registration to
all other holders of Registrable Securities, and, as soon as practicable
thereafter, effect the registration of all or such portion of such holder’s or
holders’ Registrable Securities as are specified in such request, together with
all or such portion of the Registrable Securities or other securities of the
Company, if any, of any other holder or holders joining in such request as are
specified in a written request given within fifteen (15) days after receipt of
such written notice from the Company; provided, however, that the Company shall not be obligated to effect
any such registration pursuant to this Section 2.3: (a) if Form S-3
is not available for such offering; or (b) if the holders of the
Registrable Securities, together with the holders of 

 

7

 

any other securities of the
Company entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at any aggregate price to the
public of less than $1,000,000. Registrations effected pursuant to this Section 2.3
shall not be counted as a Demand Registration effected pursuant to Section 2.1.

 

2.3.1                        Permitted
Delays.  The Company shall be entitled to postpone, for up to
sixty (60) days, the filing of any Registration Statement under this Section 2.3,
if (a) at any time prior to the filing of such Registration Statement, the
Board determines, in its good faith business judgment, that such registration
and offering would materially and adversely affect any financing, acquisition,
corporate reorganization, or other material transaction involving the Company,
and (b) the Company delivers to the holders of Registrable Securities
requesting a registration written notice thereof within ten (10) business
days of the date of receipt by the Company of such request; provided that all
such periods of postponement may not exceed 180 days during any 365-day period.
In addition, if the filing of a Registration Statement under this Section 2.3
at any time would require inclusion in such Registration Statement of financial
statements that are unavailable to the Company for reasons beyond the Company’s
control, the Company may, upon giving prompt written notice of such action to
the holders of Registrable Securities requesting such registration, delay the
filing of such Registration Statement for the shortest possible period of time
determined in good faith by the Company to be necessary for such purpose.

 

3.                                       REGISTRATION
PROCEDURES.

 

3.1.                              Filings;
Information.  Whenever the Company is required to effect the
registration of any Registrable Securities pursuant to Section 2, the
Company shall use its reasonable efforts to effect the registration and sale of
such Registrable Securities in accordance with the intended method(s) of
distribution thereof as expeditiously as reasonably possible, and in connection
with any such request:

 

3.1.1.                     Filing
Registration Statement.  The Company shall, as expeditiously as
reasonably possible and in any event within seventy-five (75) days after
receipt of a demand for registration of Registrable Securities pursuant to Section 2.1
or Section 2.3, prepare and file with the Commission a Registration
Statement on any form for which the Company then qualifies or which counsel for
the Company shall deem appropriate and which form shall be available for the
sale of all Registrable Securities to be registered thereunder in accordance
with the intended method(s) of distribution thereof, and shall use
reasonable efforts to cause such Registration Statement to become and remain
effective for the period required by Section 3.1.3; provided,
however, that the Company shall have the
right to defer any Demand Registration or Registration Statement on Form S-3
for up to sixty (60) days, and any Piggy-Back Registration for such period as
may be applicable to deferment of any Registration to which such Piggy-Back
Registration relates, in each case, if the Company shall furnish to the holders
a certificate signed by the Chief Executive Officer or Chairman of the Company
stating that, in the good faith judgment of the Board, it would be materially
detrimental to the Company and its stockholders for such Registration Statement
to be effected at such time; provided, further, that the Company shall not be obligated to deliver
securities and shall not have penalties for failure to deliver securities, if a
Registration Statement is not effective at the time of exercise by the holder.

 

3.1.2.                     Copies.  The
Company shall, upon request, prior to filing a Registration Statement or
prospectus in respect of Registrable Securities, or any amendment or supplement
thereto, furnish without charge to the holders of Registrable Securities
included in such registration, and such holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement
to such Registration Statement (in each case including all exhibits thereto and
documents incorporated by reference therein), the prospectus included in 

 

8

 

such Registration Statement (including each preliminary prospectus),
and such other documents as the holders of Registrable Securities included in
such Registration or legal counsel for any such holders may request in order to
facilitate the disposition of the Registrable Securities owned by such holders.

 

3.1.3.                     Amendments
and Supplements.  The Company shall use its reasonable efforts to
prepare and file with the Commission such amendments, including post-effective
amendments, and supplements to such Registration Statement and the prospectus
used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act
until all Registrable Securities and other securities covered by such
Registration Statement have been disposed of in accordance with the intended
method(s) of distribution set forth in such Registration Statement (which
period shall not exceed the sum of one hundred eighty (180) days plus any
period during which any such disposition is interfered with by any stop order
or injunction of the Commission or any governmental agency or court) or such
securities have been withdrawn.

 

3.1.4.                     Notification.  After
the filing of a Registration Statement, the Company shall promptly, and in no
event more than two (2) business days after such filing, notify the
holders of Registrable Securities included in such Registration Statement of
such filing, and shall further notify such holders within two (2) business
days of the occurrence of any of the following: (a) when such Registration
Statement becomes effective; (b) when any post-effective amendment to such
Registration Statement becomes effective; (c) the issuance or threatened
issuance by the Commission of any stop order (and the Company shall take all
reasonable actions required to prevent the entry of such stop order or to remove
it if entered); and (d) any request by the Commission for any amendment or
supplement to such Registration Statement or any prospectus relating thereto or
for additional information or of the occurrence of an event requiring the
preparation of a supplement or amendment to such prospectus so that, as
thereafter delivered to the purchasers of the securities covered by such
Registration Statement, such prospectus will not contain an untrue statement of
a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein not misleading, and
promptly make available to the holders of Registrable Securities included in
such Registration Statement any such supplement or amendment; except that
before filing with the Commission a Registration Statement or prospectus or any
amendment or supplement thereto, including documents incorporated by reference,
the Company shall furnish to the holders of Registrable Securities included in
such Registration Statement and to the legal counsel for any such holders,
copies of all such documents proposed to be filed sufficiently in advance of
filing to provide such holders and legal counsel with a reasonable opportunity
to review such documents and comment thereon, and the Company shall not file
any Registration Statement or prospectus or amendment or supplement thereto,
including documents incorporated by reference, to which such holders or their
legal counsel shall reasonably object.

 

3.1.5.                     State
Securities Laws Compliance.  The Company shall use its reasonable
efforts to (a) register or qualify the Registrable Securities covered by
the Registration Statement under such securities or “blue sky” laws of such
jurisdictions in the United States as the holders of Registrable Securities
included in such Registration Statement (in light of their intended plan of
distribution) may request and (b) take such action necessary to cause such
Registrable Securities covered by the Registration Statement to be registered
with or approved by such other governmental authorities as may be necessary by
virtue of the business and operations of the Company and do any and all other
acts and things that may be necessary or advisable to enable the holders of
Registrable Securities included in such Registration Statement to consummate
the disposition of such Registrable Securities in such jurisdictions; provided, however, that
the 

 

9

 

Company shall not be required to qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this
paragraph or subject itself to taxation in any such jurisdiction.

 

3.1.6.                     Agreements
for Disposition.  The Company shall enter into customary
agreements (including, if applicable, an underwriting agreement in customary
form) and take such other actions as are reasonably required in order to
expedite or facilitate the disposition of such Registrable Securities. The
representations, warranties and covenants of the Company in any underwriting
agreement which are made to or for the benefit of any Underwriters, to the
extent applicable, shall also be made to and for the benefit of the holders of
Registrable Securities included in such Registration Statement. Such holders of
Registrable Securities shall agree to such representations, warranties,
covenants and indemnification and contribution obligations for selling
stockholders as are customarily contained in agreements of that type used by
the Underwriters.

 

3.1.7.                     Cooperation.  The
principal executive officer of the Company, the principal financial officer of
the Company, the principal accounting officer of the Company and all other
officers and members of the management of the Company shall cooperate fully in
any offering of Registrable Securities hereunder, which cooperation shall
include, without limitation, the preparation of the Registration Statement with
respect to such offering and all other offering materials and related
documents, and participation in meetings with Underwriters, attorneys,
accountants and potential investors.

 

3.1.8.                     Records.  The
Company shall make available for inspection by the holders of Registrable
Securities included in such Registration Statement, any Underwriter
participating in any disposition pursuant to such registration statement and
any attorney, accountant or other professional retained by any holder of
Registrable Securities included in such Registration Statement or any
Underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, as shall be necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s officers, directors
and employees to supply all information requested by any of them in connection
with such Registration Statement.

 

3.1.9.                     Opinions
and Comfort Letters.  If a Registration Statement in respect of
Registrable Securities include an underwritten public offering, the Company
shall furnish to each holder of Registrable Securities included in such
Registration Statement a signed counterpart, addressed to such holder, of (a) any
opinion of counsel to the Company delivered to any Underwriter and (b) any
comfort letter from the Company’s independent public accountants delivered to
any Underwriter. In the event no legal opinion is delivered to any Underwriter,
the Company shall furnish to each holder of Registrable Securities included in
such Registration Statement, at any time that such holder elects to use a
prospectus, a letter of counsel to the Company to the effect that the
Registration Statement containing such prospectus has been declared effective
and that no stop order is in effect.

 

3.1.10.               Earnings
Statement.  The Company shall comply with all applicable rules and
regulations of the Commission promulgated under the Securities Act, and make
available to its stockholders, as soon as practicable but not more than fifteen
(15) months after the effective date of the Registration Statement, an earnings
statement satisfying the provisions of Section 11(a) of the Securities
Act and Rule 158 thereunder.

 

3.1.11.               Listing.  The
Company shall use its reasonable efforts to cause all Registrable Securities
included in any Registration Statement to be listed on such exchanges or
otherwise 

 

10

 

designated for trading in the same manner as similar securities issued
by the Company are then listed or designated or, if no such similar securities
are then listed or designated, in a manner satisfactory to the majority-in-interest,
on an as-converted to Common Stock basis, of the holders of Registrable
Securities included in such Registration Statement.

 

3.2.                              Obligation
to Suspend Distribution.  Upon receipt of any notice from the
Company of the happening of any event of the kind described in Section 3.1.4(d),
or, in the case of a resale registration on Form S-3 pursuant to Section 2.3
hereof, upon any suspension by the Company, pursuant to a written insider
trading compliance program adopted by the Board, of the ability of all “insiders”
covered by such program to transact in the Company’s securities because of the
existence of material non-public information, each holder of Registrable
Securities included in any registration shall immediately discontinue
disposition of such Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until such holder receives the
supplemented or amended prospectus contemplated by Section 3.1.4(d) or
the restriction on the ability of “insiders” to transact in the Company’s
securities is removed, as applicable, and, if so directed by the Company, each
such holder will deliver to the Company all copies, other than permanent file
copies then in such holder’s possession, of the most recent prospectus covering
such Registrable Securities at the time of receipt of such notice.

 

3.3.                              Registration
Expenses.  The Company shall bear all costs and expenses incurred
in connection with (a) subject to Section 2.1.5, any Demand
Registration pursuant to Section 2.1, (b) any Piggy-Back Registration
pursuant to Section 2.2, and (c) any registration on Form S-3
effected pursuant to Section 2.3, and all expenses incurred in performing
or complying with its other obligations under this Agreement, whether or not
the Registration Statement becomes effective, including, without limitation: (i) all
registration and filing fees; (ii) fees and expenses of compliance with
securities or “blue sky” laws (including fees and disbursements of counsel in
connection with blue sky qualifications of the Registrable Securities); (iii) printing
expenses; (iv) the Company’s internal expenses (including, without
limitation, all salaries and expenses of its officers and employees); (v) the
fees and expenses incurred in connection with the listing of the Registrable
Securities as required by Section 3.1.11; (vi) Financial Industry
Regulatory Authority, Inc. fees; (vii) fees and disbursements of
counsel for the Company and fees and expenses for independent certified public
accountants retained by the Company (including the expenses or costs associated
with the delivery of any opinions or comfort letters requested pursuant to Section 3.1.9);
(viii) the fees and expenses of any special experts retained by the
Company in connection with such Registration; and (ix) the reasonable fees
and expenses of one (1) legal counsel selected by the holders of a
majority-in-interest of the Registrable Securities included in such
Registration. The Company shall have no obligation to pay any other costs or
expenses in the course of the transaction contemplated hereby, including
underwriting discounts or selling commissions attributable to the Registrable
Securities being sold by the holders thereof, which underwriting discounts or
selling commissions shall be borne by such holders. Additionally, in an
underwritten offering, all selling stockholders and the Company shall bear the
expenses of the underwriter, pro rata, in
proportion to the respective amount of shares each is selling in such offering.

 

The Company
shall have the right to exclude any holder that does not comply with the
preceding sentence from the applicable Registration.

 

3.4.                              Information.  The
holders of Registrable Securities shall provide such information as may
reasonably be requested by the Company, or the managing Underwriter, if any, in
connection with the preparation of any Registration Statement, including
amendments and supplements thereto, in order to effect the registration of any
Registrable Securities under the Securities Act pursuant to Section 2 and
in connection with the Company’s obligation to comply with federal and
applicable state securities laws.

 

11

 

4.                                       INDEMNIFICATION
AND CONTRIBUTION.

 

4.1.                              Indemnification
by the Company.  The Company agrees to indemnify and hold
harmless to the fullest extent permitted by law each Investor and each other
holder of Registrable Securities, and each of their respective officers,
employees, affiliates, directors, partners, members, attorneys and agents, and
each Person, if any, who controls (within the meaning of Section 15 of the
Securities Act or Section 20(a) of the Exchange Act) an Investor and
each other holder of Registrable Securities (each, an “Investor Indemnified
Party”), from and against any expenses, losses, judgments, claims, damages
or liabilities, whether joint or several, arising out of or based upon any
untrue statement (or allegedly untrue statement) of a material fact contained
in any Registration Statement under which the sale of such Registrable Securities
was registered under the Securities Act, any preliminary prospectus, final
prospectus or summary prospectus contained in the Registration Statement, or
any amendment or supplement to such Registration Statement, or arising out of
or based upon any omission (or alleged omission) to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading; provided, however,
that the Company will not be liable in any such case to the extent that any
such expense, loss, claim, damage or liability arises out of or is based upon
any untrue statement or allegedly untrue statement or omission or alleged
omission made in such Registration Statement, preliminary prospectus, final
prospectus, or summary prospectus, or any such amendment or supplement, in
reliance upon and in conformity with information furnished to the Company, in
writing, by such selling holder expressly for use therein.

 

4.2.                              Indemnification
by Holders of Registrable Securities.  Each selling holder of
Registrable Securities will, in the event that any Registration is being
effected under the Securities Act pursuant to this Agreement of any Registrable
Securities held by such selling holder, indemnify and hold harmless to the
fullest extent permitted by law the Company, each of its directors, officers,
employees and agents and each person who controls the Company within the
meaning of the Securities Act and each underwriter (if any), and each other
selling holder and each other Person, if any, who controls another selling
holder or such underwriter within the meaning of the Securities Act, against
any expenses, losses, judgments, claims, damages or liabilities, whether joint
or several, insofar as such expenses, losses, judgments, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any
untrue statement (or allegedly untrue statement) of a material fact contained
in any Registration Statement under which the sale of such Registrable
Securities was registered under the Securities Act, any preliminary prospectus,
final prospectus or summary prospectus contained in Registration Statement, or
any amendment or supplement to the Registration Statement, or arise out of or
are based upon any omission (or alleged omission) to state a material fact
required to be stated therein or necessary to make the statement therein not
misleading, if the statement or omission was made in reliance upon and in
conformity with information furnished in writing to the Company by such selling
holder expressly for use therein, and each selling holder of Registrable
Securities shall reimburse the Company, its directors, officers employees and
agents and each person who controls the Company, and each other selling holder
or controlling Person for any legal or other expenses reasonably incurred by
any of them in connection with investigating or defending any such loss,
judgment, claim, damage, liability or action. Each selling holder’s
indemnification obligations hereunder shall be several and not joint and shall
be limited to the amount of any net proceeds actually received by such selling
holder.

 

Such indemnity
shall remain in full force and effect regardless of any investigation made by
or on behalf of the Company or any indemnified party.

 

4.3.                              Conduct
of Indemnification Proceedings.  Promptly after receipt by any
Person of any notice of any expense, loss, judgment, claim, damage or liability
or any action in respect of which indemnity may be sought pursuant to Section 4.1
or 4.2, such Person (the “Indemnified Party”) shall, if a claim in
respect thereof is to be made against any other Person for indemnification
hereunder, notify such other Person (the “Indemnifying Party”) in
writing of the expense, loss, judgment, claim, damage, liability or action; provided, however, that
the failure by the Indemnified Party to notify the Indemnifying 

 

12

 

Party shall
not relieve the Indemnifying Party from any liability which the Indemnifying
Party may have to such Indemnified Party hereunder, except and solely to the
extent the Indemnifying Party is actually prejudiced by such failure. If the
Indemnified Party is seeking indemnification with respect to any claim or
action brought against the Indemnified Party, then the Indemnifying Party shall
be entitled to participate in such claim or action, and, to the extent that it
wishes, jointly with all other Indemnifying Parties, to assume control of the
defense thereof with counsel reasonably satisfactory to the Indemnified Party. After
notice from the Indemnifying Party to the Indemnified Party of its election to
assume control of the defense of such claim or action, the Indemnifying Party
shall not be liable to the Indemnified Party for any legal or other expenses
subsequently incurred by the Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation; provided,
however, that in any action in which
both the Indemnified Party and the Indemnifying Party are named as defendants,
the Indemnified Party shall have the right to employ separate counsel (but no
more than one such separate counsel) to represent the Indemnified Party and its
controlling Persons who may be subject to liability arising out of any claim in
respect of which indemnity may be sought by the Indemnified Party against the
Indemnifying Party, with the reasonable fees and reasonable expenses of such
counsel to be paid by such Indemnifying Party if, based upon the written
opinion of counsel of such Indemnified Party, representation of both parties by
the same counsel would be inappropriate due to actual or potential differing
interests between them. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, consent to entry of judgment or effect any settlement
of any claim or pending or threatened proceeding in respect of which the
Indemnified Party is or could have been a party and indemnity could have been
sought hereunder by such Indemnified Party, unless such judgment or settlement
includes an unconditional release of such Indemnified Party from all liability
arising out of such claim or proceeding.

 

4.4.                              Contribution.

 

4.4.1.                     If the
indemnification provided for in the foregoing Sections 4.1 and 4.2 and 4.3
is unavailable to any Indemnified Party or insufficient to hold it harmless in
respect of any expense, loss, judgment, claim, damage, liability or action
referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such expense, loss, judgment, claim, damage,
liability or action in such proportion as is appropriate to reflect the
relative fault of the Indemnified Parties and the Indemnifying Parties in
connection with the actions or omissions which resulted in such loss, claim,
damage, liability or action, as well as any other relevant equitable
considerations. The relative fault of any Indemnified Party and any
Indemnifying Party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by such Indemnified Party or such Indemnifying Party and the parties’
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.

 

4.4.2.                     The parties
hereto agree that it would not be just and equitable if contribution pursuant
to this Section 4.4 were determined by pro rata allocation
or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding Section 4.4.1.

 

4.4.3.                     The amount
paid or payable by an Indemnified Party as a result of any expense, loss, judgment,
claim, damage, liability or action referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses incurred by such Indemnified Party in
connection with investigating or defending any such action or claim. Notwithstanding
the provisions of this Section 4.4, no holder of Registrable 

 

13

 

Securities shall be required to
contribute any amount in excess of the dollar amount of the net proceeds (after
payment of any underwriting fees, discounts, commissions or taxes) actually
received by such holder from the sale of Registrable Securities which gave rise
to such contribution obligation. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.

 

5.                                       UNDERWRITING
AND DISTRIBUTION.

 

5.1.                              Rule 144.  The
Company covenants that it shall use its reasonable efforts to file any reports
required to be filed by it under the Securities Act and the Exchange Act and
shall use its reasonable efforts to take such further action as the holders of
Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holders to sell Registrable Securities without
registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 under the Securities Act, as such Rules may be
amended from time to time, or any similar Rule or regulation hereafter
adopted by the Commission.

 

6.                                       MISCELLANEOUS.

 

6.1.                              Other
Registration Rights.  The Company represents and warrants that no
Person, other than a holder of the Registrable Securities, has any right to
require the Company to register any shares of the Company’s capital stock for
sale or to include shares of the Company’s capital stock in any Registration
filed by the Company for the sale of shares of capital stock for its own account
or for the account of any other Person.

 

6.2.                              Assignment;
No Third Party Beneficiaries.  This Agreement and the rights,
duties and obligations of the Company hereunder may not be assigned or
delegated by the Company in whole or in part. This Agreement and the rights,
duties and obligations of the holders of Registrable Securities hereunder may
be freely assigned or delegated by such holder of Registrable Securities in
conjunction with and to the extent of any transfer of Registrable Securities
held by any such holder. This Agreement and the provisions hereof shall be
binding upon and shall inure to the benefit of each of the parties hereto and
their respective permitted successors and assigns; provided, however, that no
such transfer or assignment shall be binding upon or obligate the Company to
any such assignee unless and until the Company shall have received written
notice of such transfer or assignment as herein provided and a written
agreement of the assignee to be bound by the provisions of this Agreement. This
Agreement is not intended to confer any rights or benefits on any Persons that
are not party hereto other than as expressly set forth in Article 4 and
this Section 6.2.

 

6.3.                              Notices.  All
notices, demands, requests, consents, approvals or other communications
(collectively, “Notices”) required or permitted to be given hereunder or
which are given with respect to this Agreement shall be in writing and shall be
personally served, delivered by reputable overnight courier service with
charges prepaid, or transmitted by hand delivery, telegram, telex or facsimile,
addressed as set forth below, or to such other address as such party shall have
specified most recently by written notice. Notice shall be deemed given on the
date of service or transmission if personally served or transmitted by
telegram, telex or facsimile; provided,
however, that if such service or transmission is not on a business day or is
after normal business hours, then such notice shall be deemed given on the next
business day. Notice otherwise sent as provided herein shall be deemed given on
the next business day following timely delivery of such notice to a reputable
overnight courier service with an order for next-day delivery.

 

14

 

To the Company:

 

iStar Acquisition Corp.

1114 Avenue of the Americas

39th Floor

New York, New York 10036

Attn:  Jay S. Nydick, Chief Executive
Officer and President

 

with a copy to:

 

Clifford Chance US LLP

31 West 52nd Street

New York, New York 10019

Attn:  Kathleen L. Werner, Esq.

 

To an Investor, to:

 

 The
address of such Investor(s) as are then reflected on the records of the
Company.

 

6.4.                              Severability.  This
Agreement shall be deemed severable, and the invalidity or unenforceability of
any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto
intend that there shall be added as a part of this Agreement a provision as
similar in terms to such invalid or unenforceable provision as may be possible
that is valid and enforceable.

 

6.5.                              Counterparts.  This
Agreement may be executed by facsimile and in multiple counterparts, and all of
which taken together shall constitute one and the same instrument.

 

6.6.                              Entire
Agreement.  This Agreement (including all agreements entered into
pursuant hereto and all certificates and instruments delivered pursuant hereto
and thereto) constitutes the entire agreement of the parties with respect to
the subject matter hereof and supersedes all prior and contemporaneous
agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written.

 

6.7.                              Modifications
and Amendments.  The Company may from time to time supplement or
amend this Agreement without the approval of any of the Investors in order to
cure any ambiguity, to correct or supplement any provision contained herein
that may be defective or inconsistent with any other provisions herein, or to
make any other provisions in regard to matters or questions arising hereunder
that the Company may deem necessary or desirable and that the Company, in the
exercise of reasonable judgment, determines will not materially adversely
affect the interest of the Investors. All other modifications or amendments
shall require the written consent of the holders of a majority-in-interest of
the Registrable Securities.

 

6.8.                              Titles
and Headings.  Titles and headings of sections of this Agreement
are for convenience only and shall not affect the construction of any provision
of this Agreement.

 

6.9.                              Waivers
and Extensions.  Any party to this Agreement may waive any right,
breach or default which such party has the right to waive, provided
that such waiver will not be effective against the waiving party unless it is
in writing, is signed by such party, and specifically refers to this Agreement.
Waivers may be made in advance or after the right waived has arisen or the
breach or default waived has occurred. Any waiver may be conditional. No waiver
of any breach of any agreement or provision herein contained shall be deemed a
waiver of any preceding or succeeding breach thereof nor of any other 

 

15

 

agreement or provision herein contained. No waiver or extension of time
for performance of any obligations or acts shall be deemed a waiver or
extension of the time for performance of any other obligations or acts.

 

6.10.                        Remedies
Cumulative.  In the event that the Company fails to observe or
perform any covenant or agreement to be observed or performed under this
Agreement, each Investor or any other holder of Registrable Securities may
proceed to protect and enforce its rights by suit in equity or action at law,
whether for specific performance of any term contained in this Agreement or for
an injunction against the breach of any such term or in aid of the exercise of
any power granted in this Agreement or to enforce any other legal or equitable
right, or to take any one or more of such actions, without being required to
post a bond. None of the rights, powers or remedies conferred under this
Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy,
whether conferred by this Agreement or now or hereafter available at law, in
equity, by statute or otherwise.

 

6.11.                        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. The parties
hereto agree 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 submit to such jurisdiction,
which jurisdiction shall be exclusive. The parties hereto hereby waive any
objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum.

 

6.12.                        Waiver
of Trial by Jury.  Each party hereto hereby irrevocably and
unconditionally waives the right to a trial by jury in any action, suit,
counterclaim or other proceeding (whether based on contract, tort or otherwise)
arising out of, connected with or relating to this Agreement, the transactions
contemplated hereby, or the actions of any Investor in the negotiation,
administration, performance or enforcement hereof.

 

[Remainder of page intentionally left blank]

 

16

 

IN WITNESS WHEREOF, the parties
have caused this Registration Rights Agreement to be executed and delivered as
of the date first written above.

 

	
   

  	
  iSTAR ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Jay S.
  Nydick

  
	
   

  	
   

  	
  Title:
  President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  INVESTORS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  iSTAR FINANCIAL INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  iSTAR
  ACQUISITION INVESTOR LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Jay Sugarman

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Jay S.
  Nydick

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Nina Matis

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Catherine D.
  Rice

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Daniel
  Abrams

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Michael
  Dorsch

  

 

17

 

	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Michelle
  MacKay

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Barclay
  Jones

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Steven
  Blomquist

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  James Burns

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Barbara
  Rubin

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Chase Curtis

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Vernon
  Schwartz

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Robin
  Josephs

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Jeffrey
  Lynford

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Jeffrey
  Tarrant

  

 

18

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"}]]