Document:

Exhibit
      10.12

     

    THIS
      NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT
      BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE
      THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION
      IS NOT REQUIRED.  

     

    PROMISSORY
      NOTE

     

    
      	
              Principal
                Amount: $125,000

            	
              Dated
                as of March 11, 2008

            
	 	
              Atlanta,
                Georgia

            

    

    

    Lambert’s
      Cove Acquisition Corporation, a Delaware Corporation, (the “Maker”)
      promises to pay to the order of Lambert’s Cove Holdings, LLC or its registered
      assigns or successors in interest (the
      “Payee”),
      or
      order, the principal sum of One Hundred Twenty Five Thousand Dollars ($125,000)
      in lawful money of the United States of America, on the terms and conditions
      described below. All payments on this Note shall be made by check or wire
      transfer of immediately available funds or as otherwise determined by the Maker
      to such account as the Payee may from time to time designate by written notice
      in accordance with the provisions of this Note. 

    

    1. Principal.
      The
      principal balance of this Promissory Note (this “Note”)
      shall
      be payable on the earlier of (i) March 11, 2010 or (ii) the date on which Maker
      consummates an initial public offering of its securities.

    

    2. Interest.
      No
      interest shall accrue on the unpaid principal balance of this Note.

    

    3. Application
      of Payments.
      All
      payments shall be applied first to payment in full of any costs incurred in
      the
      collection of any sum due under this Note, including (without limitation)
      reasonable attorney’s fees, then to the payment in full of any late charges and
      finally to the reduction of the unpaid principal balance of this
      Note.

    

    4. Events
      of Default.
      The
      following shall constitute an event of default (each an “Event
      of Default”):

    

    (a) Failure
      to Make Required Payments. Failure by Maker to pay the principal of this Note
      within five (5) business days following the date when due.

    

    (b) Voluntary
      Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal
      Bankruptcy Code, as now constituted or hereafter amended, or any other
      applicable federal or state bankruptcy, insolvency, reorganization,
      rehabilitation or other similar law, or the consent by it to the appointment
      of
      or taking possession by a receiver, liquidator, assignee, trustee, custodian,
      sequestrator (or other similar official) of Maker or for any substantial part
      of
      its property, or the making by it of any assignment for the benefit of
      creditors, or the failure of Maker generally to pay its debts as such debts
      become
      due, or the taking of corporate action by Maker in furtherance of any of the
      foregoing.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c) Involuntary
      Bankruptcy, Etc. The entry of a decree or order for relief by a court having
      jurisdiction in the premises in respect of Maker in an involuntary case under
      the Federal Bankruptcy Code, as now constituted or hereafter amended, or any
      other applicable federal or state bankruptcy, insolvency or other similar law,
      or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator
      (or similar official) of Maker or for any substantial part of its property,
      or
      ordering the winding-up or liquidation of its affairs, and the continuance
      of
      any such decree or order unstayed and in effect for a period of 60 consecutive
      days.

    

    5. Remedies.

    

    (a) Upon
      the
      occurrence of an Event of Default specified in Section 4(a) hereof, Payee may,
      by written notice to Maker, declare this Note to be due immediately and payable,
      whereupon the unpaid principal amount of this Note, and all other amounts
      payable thereunder, shall become immediately due and payable without
      presentment, demand, protest or other notice of any kind, all of which are
      hereby expressly waived, anything contained herein or in the documents
      evidencing the same to the contrary notwithstanding.

    

    (b) Upon
      the
      occurrence of an Event of Default specified in Sections 4(b) and 4(c), the
      unpaid principal balance of this Note, and all other sums payable with regard
      to, this Note shall automatically and immediately become due and payable, in
      all
      cases without any action on the part of Payee.

    

    6. Waivers.
      Maker
      and all endorsers and guarantors of, and sureties for, this Note waive
      presentment for payment, demand, notice of dishonor, protest, and notice of
      protest with regard to the Note, all errors, defects and imperfections in any
      proceedings instituted by Payee under the terms of this Note, and all benefits
      that might accrue to Maker by virtue of any present or future laws exempting
      any
      property, real or personal, or any part of the proceeds arising from any sale
      of
      any such property, from attachment, levy or sale
      under execution, or providing for any stay of execution, exemption from civil
      process, or extension of time for payment; and Maker agrees that any real estate
      that may be levied upon pursuant to a judgment obtained by virtue hereof, on
      any
      writ of execution issued hereon, may be sold upon any such writ in whole or
      in
      part in any order desired by Payee.

    

    7. Unconditional
      Liability.
      Maker
      hereby waives all notices in connection with the delivery, acceptance,
      performance, default, or enforcement of the payment of this Note, and agrees
      that its liability shall be unconditional, without regard to the liability
      of
      any other party, and shall not be affected in any manner by any indulgence,
      extension of time, renewal, waiver or modification granted or consented to
      by
      Payee, and consents to any and all extensions of time, renewals, waivers, or
      modifications that may be granted by Payee with respect to the payment or other
      provisions of this Note, and agrees that additional
      makers, endorsers, guarantors, or sureties may become parties hereto without
      notice to him or affecting his liability hereunder.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8. Notices.
      Any
      notice called for hereunder shall be deemed properly given if (i) sent by
      certified mail, return receipt requested, (ii) personally delivered, (iii)
      dispatched by any form of private or governmental express mail or delivery
      service providing receipted delivery or (iv) sent by telefacsimile to the
      following addresses or to such other address as either party may designate
      by
      notice in accordance with this Section:

     

    If
      to
      Maker:

    Lambert’s
      Cove Acquisition Corporation

    817
      West
      Peachtree, Suite 550

    Atlanta,
      GA 30308

    

    Attn:
      Jeffrey C. Levy, Chief Executive Officer

    

    If
      to
      Payee:

    

    Lambert’s
      Cove Holdings, LLC

    817
      West
      Peachtree, Suite 550

    Atlanta,
      GA 30308

    

    Notice
      shall be deemed given on the earlier of (i) actual receipt by the receiving
      party, (ii) the date shown on a telefacsimile transmission confirmation, (iii)
      the date reflected on a signed delivery receipt, or (iv) two (2) Business Days
      following tender of delivery or dispatch by express mail or delivery
      service.

    

    9.
       Construction.
      THIS
      NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE
      OF
      DELAWARE, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

    

    10.
       Severability.
      Any
      provision contained in this Note which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this
      Note to be duly executed by its Chief Executive Officer the day and year first
      above written.

    

     

    
      	 	
              LAMBERT’S
                COVE ACQUISITION CORPORATION

            
	 	 
	 	 
	 	
              By:

            	/s/
              Jeffrey C. Levy	
            
	 	 	
              Name:
                Jeffrey C. Levy

            
	 	 	
              Title:
                Chief Executive
                OfficerEXHIBIT
      10.13

     

    LAMBERT’S
      COVE ACQUISITION CORPORATION

    817
      West
      Peachtree, Suite 550

    Atlanta,
      GA 30308

    

    

    March
      11,
      2008

    

    Lambert’s
      Cove Holdings, LLC

    817
      West
      Peachtree, Suite 550

    Atlanta,
      GA 30308

    

    

    RE: Securities
      Subscription Agreement

    

    Dear
      Mr.
      Levy:

    

    We
      are
      pleased to accept the offer Lambert’s Cove Holdings, LLC (the “Subscriber”) has
      made to purchase 2,875,000 units (the “Units”), each unit consisting of one
      share of common stock, $0.0001 par value per share (the “Common Stock”), and one
      warrant to purchase one share of Common Stock at a purchase price of $7.50
      (the
“Warrants”). Up to 375,000 of the Units (including the underlying shares of
      Common Stock and Warrants) are subject to complete or partial forfeiture
      (the “Forfeiture”) by you if the underwriters of the initial public offering of
      Lambert’s Cove Acquisition Corporation, a Delaware corporation (the “Company”),
      do not fully exercise their over-allotment option. The terms on which the
      Company is willing to sell the Units to the Subscriber, and the Company and
      the
      Subscriber’s agreements regarding such Units, are as follows:

    

    1.
       Purchase
      of Units.
      For the
      aggregate sum of $25,000.00 (the “Purchase Price”), which the Company
      acknowledges receiving in cash, and subject to the Forfeiture, the Company
      hereby sells and issues the Units to the Subscriber, and the Subscriber hereby
      purchases the Units from the Company, on the terms and subject to the Forfeiture
      and other conditions set forth in this Agreement. Concurrently with the
      Subscriber’s execution of this Agreement, the Company is delivering to the
      Subscriber certificates registered in the Subscriber’s name representing
      the Units, shares of Common Stock and Warrants, receipt of which the
      Subscriber hereby acknowledges.

    

    2. Representations
      and Warranties of the Company.
      To
      induce the Subscriber to purchase the Units from the Company, the Company hereby
      represents and warrants to the Subscriber and agrees with the Subscriber as
      follows:

    

    2.1 Organization
      and Corporate Power.
      The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware and is qualified to do business in
      every
      jurisdiction in which the failure to so qualify would reasonably be expected
      to
      have a material adverse effect on the financial condition, operating results
      or
      assets of the Company. The Company possesses all requisite corporate power
      and
      authority necessary to carry out the transactions contemplated by this
      Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.2 Authorization;
      No Breach.

    

    (a)
      The
      execution and delivery of this Agreement, and performance of this Agreement
      have
      been duly authorized by the Company as of the date hereof. This Agreement
      constitutes the valid and binding obligation of the Company, enforceable in
      accordance with its terms. 

    

    (b)
      The
      execution and delivery by the Company of this Agreement, and the sale and
      issuance of the Units, the underlying shares of Common Stock and Warrants and
      the shares of Common Stock issuable upon exercise of the Warrantrs
      (collectively, the
“Securities”) and
      the
      fulfillment of and compliance with the respective terms hereof and thereof
      by
      the Company, do not and will not as of the date hereof (i) conflict with or
      result in a breach of the terms, conditions or provisions of, (ii) constitute
      a
      default under, (iii) result in the creation of any lien, security interest,
      charge or encumbrance upon the Company's capital stock or assets, (iv) result
      in
      a violation of, or (v) require any authorization, consent, approval, exemption
      or other action by or notice or declaration to, or filing with, any court or
      administrative or governmental body or agency pursuant to the Certificate of
      Incorporation of the Company or the bylaws of the Company, or any material
      law,
      statute, rule or regulation to which the Company is subject, or any agreement,
      order, judgment or decree to which the Company is subject, except for any
      filings required after the date hereof under federal or state securities
      laws.

    

    2.3.
      Title
      to Securities.
      Upon
      issuance in accordance with, and payment pursuant to, the terms hereof
      and of the Warrant Agreement related to the Warrants the Securities
      will be duly and validly issued, fully paid and nonassessable. Upon issuance
      in
      accordance with, and payment pursuant to, the terms hereof the Subscriber will
      have or receive good title to the Securities, free and clear of all liens,
      claims and encumbrances of any kind, other than (a) transfer restrictions
      hereunder and under the other agreements contemplated hereby, (b) transfer
      restrictions under federal and state securities laws, and (c) liens, claims
      or
      encumbrances imposed due to the actions of the Subscriber.

    

    3. The
      Subscriber’s Representations, Warranties and Agreements.
      To
      induce the Company to issue the Securities to the Subscriber, the
      Subscriber hereby represents and warrants to the Company and agrees with the
      Company as follows:

    

    3.1. No
      Government Recommendation or Approval.
      The
      Subscriber understands that no United States federal or state agency or similar
      agency of any other country, has passed upon or made any recommendation or
      endorsement of the offering of the Securities or the fairness or
      suitability of the investment in the Securities by the Subscriber nor have
      such authorities passed upon or endorsed the merits of the offering of the
      Securities.

    

    3.2. Experience,
      Financial Capability and Suitability.
      The
      Subscriber is sufficiently experienced in financial and business matters to
      be
      capable of evaluating the merits and risks of this investment and to make an
      informed decision relating thereto. The Subscriber is aware its investment
      in
      the Company is a speculative investment that has limited liquidity, because
      there may never be an established market for the Company’s securities. The
      Subscriber has the financial capability for making the investment and the
      investment is a suitable one for the Subscriber. The Subscriber can, without
      impairing its financial condition, hold the Securities for an indefinite
      period of time and can afford a complete loss of the investment. The Subscriber
      acknowledges that the Company has urged the Subscriber to seek independent
      advice from professional advisors relating to the suitability of an investment
      in the Company and in connection with this Agreement, and that the Subscriber
      has sought and received such independent professional advice with respect to
      such investment and this Agreement or, after careful
      consideration, the Subscriber has determined to waive its right to seek and/or
      receive such independent professional advice.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.3. Access
      to Information.
      Prior
      to the execution of this Agreement, the Subscriber has had the opportunity
      to
      ask questions of and receive answers from representatives of the Company
      concerning an investment in the Company, as well as the finances, operations,
      business and prospects of the Company, and the opportunity to obtain additional
      information to verify the accuracy of all information so obtained.

    

    3.4. Regulation
      D Offering.
      Subscriber represents that it is an “accredited investor” as such term
      is defined in Rule 501(a) of Regulation D under the Securities Act of 1933,
      as
      amended (the “Securities Act”), and acknowledges the sale contemplated hereby is
      being made in reliance on a private placement exemption to “accredited
      investors” within the meaning of Section 501(a) of Regulation D under the
      Securities Act or similar exemptions under state law; and, accordingly, such
      securities will be “restricted securities” within the meaning of Rule 144(a)(3)
      under the Securities Act, and therefore may not be offered, pledged or sold
      by
      the Subscriber, directly or indirectly, in the United States without
      registration under United States federal and state securities laws and
      Subscriber understands the certificates representing such Securities will
      contain a legend in respect of such restrictions. The Subscriber did not decide
      to enter into this Agreement as a result of any general solicitation or
      general advertising within the meaning of Rule 502 under the Securities
      Act.

    

    
      
        3.5.
          Restrictions
          on Transfer.
          Subscriber acknowledges and understands the Securities are
          being offered in a transaction not involving a public offering within the
          meaning of the Securities Act. The Securities have not been registered
          under the Securities Act, and, if in the future the Subscriber decides
          to offer,
          resell, pledge or otherwise transfer the Securities, such Securities may be
          offered, resold, pledged or otherwise transferred only (A) pursuant to
          an
          effective registration statement filed under the Securities Act, (B) pursuant
          to
          an exemption from registration under Rule 144 promulgated under the Securities
          Act, if available, or (C) pursuant to any available other exemption from
          the
          registration requirements of the Securities Act, and in each case in accordance
          with any applicable securities laws of any state or any other jurisdiction.
          Subscriber agrees that if any transfer of its Securities or any interest
          therein is proposed to be made, as a condition precedent to any such transfer,
          Subscriber may be required to deliver to the Company an opinion of counsel
          satisfactory to the Company. Absent registration or an available exemption
          from
          registration, the Subscriber agrees that it will not resell the Securities.
          Subscriber explicitly understands and acknowledges that the Securities
          and
          Exchange Commission (the “SEC”) has taken the position the Subscriber would be
          considered a promoter under the Securities Act and that promoters or affiliates
          of a blank check company and their transferees, both before and after a
          business
          combination, would act as “underwriters” under the Securities Act when reselling
          the securities of that blank check company. Accordingly, Rule 144 promulgated
          under the Securities Act will not be available to the Subscriber for the
          resale
          of the Securities despite technical compliance with the requirements of
          Rule 144, in which event the resale transactions would need to be made
          through a
          registered offering.

      

    

    

    3.6 Pro-rata
      Forfeiture.
      Subscriber hereby acknowledges and understands that the 375,000 of the 2,875,000
      Units being offered herein are subject to partial or complete forfeiture in
      the
      event that the underwriters’ over-allotment option is not exercised, either
      partially or fully, as set forth in Section 4.4 herein.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4. Forfeiture
      of Securities; Escrow of Securities.

    

    4.1. Failure
      to Consummate Business Combination.
      All of
      the Securities initially shall be subject to forfeiture to the Company in
      accordance with this Section 4. The Securities shall be forfeited to the
      Company in the event the Company does not consummate a business combination
      (“Business
      Combination”), as such
      term is
      defined in the Company’s registration statement on Form S-1, as
      amended, under the Securities Act (the “Registration Statement”), with
      respect to the Company’s initial public offering (the “IPO”) of its
      securities, within 24 months (or 36 months in the event the Company has entered
      into a definitive agreement with respect to a Business Consummation and the
      stockholders have approved an extension ( the “Extension”) for
      the purpose of consummating a Business Combination) from the date of the final
      prospectus related to the IPO. 

    

    4.2. Termination
      of Rights.
      If
      the Securities are forfeited in accordance with this Section 4, then after
      such time the Subscriber (or successor in interest), shall no longer have any
      rights as a holder of such Securities, and the Company shall take such action
      as
      is appropriate to cancel such Securities. In addition, the Subscriber hereby
      irrevocably grants the Company a limited power of attorney for the purpose
      of
      effectuating the foregoing.

    

    4.3. Escrow.
      Upon
      the date of the final prospectus related to the IPO, the Subscriber, and
      its designees, shall enter into a securities escrow agreement (the “Escrow
      Agreement”) with Continental Stock Transfer & Trust Company (the
“Escrow Agent”), whereby the Securities shall be held in escrow and will
      not be released until one year after the consummation of the Company’s initial
      Business Combination, unless the over-allotment option is not exercised in
      full
      or in part in order to have up to 375,000 Units forfeited pursuant to Section
      4.4 or unless the Company were to engage in a transaction subsequent to
      such Business Combination that results in all of the Company’s stockholders of
      the combined entity having the right to exchange their shares of common stock
      for cash, securities or other property. 

     

    4.4 Pro-rata
      Forfeiture. If
      the
      underwriters of the IPO fail to exercise any portion or all of the
      over-allotment option granted to them within 30 days of the date of the final
      prospectus related to the IPO, then Subscriber shall automatically forfeit
      up to
      375,000 Units (including the underlying shares of Common Stock and
      Warrants) purchased hereunder, such that Subscriber shall, in the
      aggregate, beneficially own no greater than 20% of the Units of the Company
      issued and outstanding pursuant to this Agreement and the Company’s IPO.

    

    5.
 
       Waiver
      of Liquidation Distributions; Redemption Rights.
      In
      connection with the Securities purchased pursuant to this Agreement and any
      other Company securities purchased on a private placement basis, the Subscriber
      hereby waives any and all right, title, interest or claim of any kind in or
      to
      any distributions by the Company from the trust account (“Trust Account”),
      as such term is
      defined in the Registration Statement, in the event of a liquidation of the
      Company upon the Company’s failure to timely complete a Business Combination.
      For purposes of clarity, in the event the Subscriber purchases shares of Common
      Stock in the IPO or in the aftermarket, any additional shares so purchased
      shall
      be eligible to receive any liquidating distributions by the Company. However,
      in
      no event will Subscriber have the right to redeem any shares of Common
      Stock underlying the
      Units
      or shares of Common Stock issuable upon exercise of the Warrants into funds
      held in the Trust Account with the Escrow Agent upon either the approval of
      the
      Extension or the successful completion of a Business
      Combination.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    6. Restrictions
      on Transfer.

    

    6.1 Securities
      Law Restrictions.
      In
      addition to the restrictions contained in the Escrow Agreement, Subscriber
      agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all
      or
      any part of the Securities unless, prior thereto (a) a registration
      statement on the appropriate form under the Securities Act and applicable state
      securities laws with respect to the Securities proposed to be transferred
      shall then be effective or (b) the Company shall have received an opinion from
      counsel reasonably satisfactory to the Company, that such registration is not
      required because such transaction complies with the Securities Act and the
      rules
      promulgated by the Securities and Exchange Commission thereunder and with all
      applicable state securities laws.

    

    6.2 Restrictive
      Legends.
      All
      certificates representing the Securities shall have endorsed thereon legends
      substantially as follows:

    

    “THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND
      NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
      FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION
      OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

    

    SECURITIES
      EVIDENCED BY THIS CERTIFICATE WILL BE ENTITLED TO REGISTRATION RIGHTS UNDER
      A
      REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

    

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND
      CONDITIONS CONTAINED IN A SECURITIES ESCROW AGREEMENT (THE “AGREEMENT”) AND MAY
      NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE
      TERM
      OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT).”

    

    6.3. Additional Securities
      or Substituted Securities.
      In the
      event of the declaration of a stock dividend, the declaration of an
      extraordinary dividend payable in a form other than stock, a spin-off, a stock
      split, an adjustment in conversion ratio, a recapitalization or a similar
      transaction affecting the Company’s outstanding capital stock without receipt of
      consideration, any new, substituted or additional securities or other property
      which are by reason of such transaction distributed with respect to any
      Securities subject to this Section 6 or into which such Securities thereby
      become convertible shall immediately be subject to this Section 6 and Section
      4.3. Appropriate adjustments to reflect the distribution of such securities
      or
      property shall be made to the number and/or class of Shares subject to this
      Section 6 and Section 4.3.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    7. Other
      Agreements.

    

    7.1. Further
      Assurances.
      Subscriber agrees to execute such further instruments and to take such further
      action as may reasonably be necessary to carry out the intent of this
      Agreement.

    

    7.2 No
      Obligation as to Employment. The
      Company is not by reason of this Agreement obligated to employ, or continue
      to
      employ, the Subscriber in any capacity.

    

    7.3. Notices.
      All
      notices, requests, consents and other communications hereunder shall be in
      writing, shall be addressed to the receiving party’s address set forth on the
      first page of this Agreement or to such other address as a party may designate
      by notice hereunder, and shall be either (a) delivered by hand, (b) sent by
      overnight courier, or (c) sent by certified mail, return receipt requested,
      postage prepaid. All notices, requests, consents and other communications
      hereunder shall be deemed to have been given either (i) if by hand, at the
      time
      of the delivery thereof to the receiving party at the address of such party
      set
      forth above, (ii) if sent by overnight courier, on the next business day
      following the day such notice is delivered to the courier service, or (iii)
      if
      sent by certified mail, on the (5th)
      business day following the day such mailing is made.

    

    7.4. Entire
      Agreement.
      This
      Agreement, together with that certain letter agreement between Subscriber and
      the Company, substantially in the form filed as an exhibit to the Registration
      Statement, embodies the entire agreement and understanding between the
      Subscriber and the Company with respect to the subject matter hereof and
      supersedes all prior oral or written agreements and understandings relating
      to
      the subject matter hereof. No statement, representation, warranty, covenant
      or
      agreement of any kind not expressly set forth in this Agreement shall affect,
      or
      be used to interpret, change or restrict, the express terms and provisions
      of
      this Agreement.

    

    7.5. Modifications
      and Amendments.
      The
      terms and provisions of this Agreement may be modified or amended only by
      written agreement executed by all parties hereto.

    

    7.6. Waivers
      and Consents.
      The
      terms and provisions of this Agreement may be waived, or consent for the
      departure therefrom granted, only by written document executed by the party
      entitled to the benefits of such terms or provisions. No such waiver or consent
      shall be deemed to be or shall constitute a waiver or consent with respect
      to
      any other terms or provisions of this Agreement, whether or not similar. Each
      such waiver or consent shall be effective only in the specific instance and
      for
      the purpose for which it was given, and shall not constitute a continuing waiver
      or consent.

    

    7.7. Assignment.
      The
      rights and obligations under this Agreement may not be assigned by either party
      hereto without the prior written consent of the other party.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    7.8. Benefit.
      All
      statements, representations, warranties, covenants and agreements in this
      Agreement shall be binding on the parties hereto and shall inure to the benefit
      of the respective successors and permitted assigns of each party hereto. Nothing
      in this Agreement
      shall be construed to create any rights or obligations except among the parties
      hereto, and no person or entity shall be regarded as a third-party beneficiary
      of this Agreement.

     

    7.9. Governing
      Law.
      This
      Agreement and the rights and obligations of the parties hereunder shall be
      construed in accordance with and governed by the law of State of New York,
      without giving effect to the conflict of law principles thereof.

    

    7.10. Severability.
      In the
      event that any court of competent jurisdiction shall determine that any
      provision, or any portion thereof, contained in this Agreement shall be
      unreasonable or unenforceable in any respect, then such provision shall be
      deemed limited to the extent that such court deems it reasonable and
      enforceable, and as so limited shall remain in full force and effect. In the
      event that such court shall deem any such provision, or portion thereof, wholly
      unenforceable, the remaining provisions of this Agreement shall nevertheless
      remain in full force and effect.

    

    7.11. No
      Waiver of Rights, Powers and Remedies.
      No
      failure or delay by a party hereto in exercising any right, power or remedy
      under this Agreement, and no course of dealing between the parties hereto,
      shall
      operate as a waiver of any such right, power or remedy of such party. No single
      or partial exercise of any right, power or remedy under this Agreement by a
      party hereto, nor any abandonment or discontinuance of steps to enforce any
      such
      right, power or remedy, shall preclude such party from any other or further
      exercise thereof or the exercise of any other right, power or remedy hereunder.
      The election of any remedy by a party hereto shall not constitute a waiver
      of
      the right of such party to pursue other available remedies. No notice to or
      demand on a party not expressly required under this Agreement shall entitle
      the
      party receiving such notice or demand to any other or further notice or demand
      in similar or other circumstances or constitute a waiver of the rights of the
      party giving such notice or demand to any other or further action in any
      circumstances without such notice or demand. 

    

    7.12. Survival
      of Representations and Warranties.
      All
      representations and warranties made by the parties hereto in this Agreement
      or
      in any other agreement, certificate or instrument provided for or contemplated
      hereby, shall survive the execution and delivery hereof and any investigations
      made by or on behalf of the parties.

     

    7.13. No
      Broker or Finder.
      Each of
      the parties hereto represents and warrants to the other that no broker, finder
      or other financial consultant has acted on their behalf in connection with
      this
      Agreement or the transactions contemplated hereby in such a way as to create
      any
      liability on the other. Each of the parties hereto agrees to indemnify and
      save
      the other harmless from any claim or demand for commission or other compensation
      by any broker, finder, financial consultant or similar agent claiming to have
      been employed by or on behalf of such party and to bear the cost of legal
      expenses incurred in defending against any such claim.

    

    7.14. Headings
      and Captions.
      The
      headings and captions of the various subdivisions of this Agreement are for
      convenience of reference only and shall in no way modify or affect the meaning
      or construction of any of the terms or provisions hereof.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    7.15. Counterparts.
      This
      Agreement may be executed in one or more counterparts, all of which when taken
      together shall be considered one and the same agreement and
      shall
      become effective when counterparts have been signed by each party and delivered
      to the other party, it being understood that both parties need not sign the
      same
      counterpart.  In the event that any signature is delivered by facsimile
      transmission or by e-mail delivery of a “.pdf” format data file, such signature
      shall create a valid and binding obligation of the party executing (or on whose
      behalf such signature is executed) with the same force and effect as if such
      facsimile or “.pdf” signature page were an original thereof.

    

    (Signature
      page to follow)

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    If
      the
      foregoing accurately sets forth our understanding and agreement, please sign
      the
      enclosed copy of this agreement and return it to us.

     

    
      	 	
              Very
                truly yours,

            
	 	 
	 	
              LAMBERT’S
                COVE ACQUISITION

              CORPORATION

            
	 	 
	 	 
	 	
              By:

            	/s/
              Jeffrey C. Levy	
            
	 	 	
              Name:
                Jeffrey C. Levy

            
	 	 	
              Title:
                Chief Executive Officer

            
	 	 
	
              Accepted
                and agreed this

            	 
	
              11th
                day of March, 2008

            	 
	 	 
	
              LAMBERT’S
                COVE HOLDINGS, LLC

            	 
	 	 
	/s/
              Jeffrey C. Levy	
            	 
	
              By:
                Jeffrey C. Levy

            	 
	
              Title:
                Co-Managing Member

            	 

    

     

    
      
        
        

      

      
        9

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