Document:

Unassociated Document

     

    Exhibit
      10.1

     

     

    Form
      of Letter Agreement for 

    Directors,
      Officers and Initial Security Holders

     

     

    [Date]

     

    BBV
      Vietnam S.E.A. Acquisition Corp.

    40
      Woodland Street

    Hartford,
      Connecticut 06105 

    Attention
      of Eric M. Zachs, President

     

    Ladenburg
      Thalmann & Co. Inc.

    153
      East
      53rd Street, 49th Floor

    New
      York,
      New York 10022

    Attention
      of [__________]

    

    Chardan
      Capital Markets, LLC 

    17
      State
      Street, Suite 1600

    New
      York,
      New York 10004

    Attention
      of [__________]

    

    

    Re:
       Initial
      Public Offering

    

    Gentlemen:

    

    This
      letter is being delivered to you in accordance with the Underwriting Agreement
      entered into by and among BBV Vietnam S.E.A. Acquisition Corp., a Marshall
      Islands Corporation (the “Company”),
      on
      the one hand, and Ladenburg Thalmann & Co. Inc. and Chardan Capital Markets,
      LLC, as co-lead managing underwriters (the “Representatives”),
      relating to an underwritten initial public offering (the “IPO”)
      of
      4,500,000 of the Company’s units (5,175,000 if the over-allotment is exercised
      in full) (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. The Units sold in the
      IPO
      will be registered pursuant to a Registration Statement on Form S-1 and
      prospectus filed by the Company with the Securities and Exchange Commission.
      Certain capitalized terms used herein are defined in paragraph [12]
      hereof.

    

    In
      order
      to induce the Company and the Underwriters to enter into the Underwriting
      Agreement and to proceed with the IPO and for other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged,
      the
      undersigned hereby agrees with the Company as follows: 

    

    1.  If
      the
      Company solicits approval of its shareholders of a Business Combination, and/or
      the Extended Period, the undersigned will vote all Insider Shares owned by
      him
      or her in accordance with the majority of the votes cast by the holders of
      the
      IPO Shares and will vote all shares of Common Stock of the Company acquired
      by
      him or her in the IPO or aftermarket in favor of any Business Combination
      negotiated by the officers of the Company and the Extended Period.

    

    2.  In
      the
      event that the Company fails to consummate a Business Combination within 18
      months from the closing date of the IPO (the “IPO
      Closing Date”)
      and no
      letter of intent, agreement in principle or definitive agreement has been
      executed within such 18 month period, or within 24 months from the IPO Closing
      Date, if a letter of intent, agreement in principle or definitive agreement
      has
      been executed within such 18 month period, or within 36 months from the IPO
      Closing Date, if so extended upon approval by the shareholders, the undersigned
      shall take all such action reasonably within his or her power as is necessary
      to
      dissolve the Company and liquidate the Trust Account to holders of IPO Shares
      as
      soon as reasonably practicable. The undersigned hereby waives any and all right,
      title, interest or claim of any kind in or to any distribution of the Trust
      Account and any remaining net assets of the Company as a result of such
      liquidation with respect to its Insider Shares (“Claim”)
      and
      will not seek recourse against the Trust Account for any reason whatsoever.
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.  [In
      the
      event of the liquidation of the Trust Account, the undersigned agrees to
      indemnify and hold harmless the Company jointly and severally with [Robert
      H.J.
      Lee/Eric M. Zachs], against any and all loss, liability, claims, damage and
      expense whatsoever to which the Company may become subject as a result of any
      claim by any third party, but only to the extent necessary to ensure that such
      loss, liability, claim, damage or expense does not reduce the amount in the
      Trust Account and only if such third party has not executed a valid and
      enforceable agreement waiving claims against the Trust Account. If the remaining
      assets outside the Trust Account are insufficient to pay the costs of
      liquidation, the undersigned agrees to advance to the Company the funds
      necessary to complete such liquidation and agrees not to seek repayment for
      such
      expenses. The foregoing section is not for the benefit of any third party
      beneficiaries of the Company and does not create any contract right in favor
      of
      any person other than the Company.](1) 

    

    4.  [In
      order
      to minimize potential conflicts of interest which may arise from multiple
      affiliations, the undersigned agrees (i) not to become an officer, director
      or
      principal shareholder of a blank check company with a focus on potential
      acquisition targets in the Socialist Republic of Vietnam or Asia and (ii) to
      present to the Company for its consideration, prior to presentation to any
      other
      person or entity, any suitable opportunity to acquire an operating business,
      until the earlier of the consummation by the Company of a Business Combination,
      or the liquidation of the Company, subject to any pre-existing fiduciary and
      contractual obligations the undersigned might have as of the date hereof. For
      the purposes hereof, a suitable opportunity shall mean any company or business
      having its primary operations in the Socialist Republic of Vietnam and Asia
      whose fair market value is at least equal to $28.8 million. The information
      relating to the undersigned contained in the “Conflicts of Interest” section of
      the Registration Statement is true and accurate in all respects, and does not
      omit any material information with respect to the undersigned’s fiduciary or
      contractual obligations.

    

    The
      undersigned hereby agrees and acknowledges that (i) each of the Underwriters
      and
      the Company could be irreparably injured in the event of a breach by the
      undersigned of his obligations under this paragraph 4, monetary damages may
      not
      be an adequate remedy for such breach and (ii) the non-breaching party shall
      be
      entitled to injunctive relief, in addition to any other remedy such party may
      have, in the event of such breach.](2)

    

    5.  Prior
      to
      a Business Combination, neither the undersigned, any member of the family of
      the
      undersigned, nor any affiliate (“Affiliate”)
      of the
      undersigned will be entitled to receive and will not accept any compensation
      for
      services rendered to the Company. Notwithstanding the foregoing to the contrary,
      the undersigned shall be entitled to reimbursement from the Company for his
      or
      her out-of-pocket expenses incurred in connection with seeking and consummating
      a Business Combination [and commencing on the Effective Date, Bantry Bay
      Ventures-Asia, LLC, an affiliate of the Company’s officers, certain of its
      directors and its special advisor (the “Related
      Party”),
      shall
      be allowed to charge the Company $7,500 per month to compensate it for the
      Company’s use of the Related Party’s office space and certain technology and
      administrative and secretarial services.](3) 

     

    
      
        

      

    

    (1)
      Applicable only to Eric M. Zachs and Robert H.J. Lee.

    (2)
      Applicable only to offices and directors.

    (3)
      Applicable only to Eric M. Zachs, Eliezer R. Katz, Nguyen Thi Quynh Anh and
      Robert H.J. Lee.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6.  To
      the
      extent that the underwriters do not exercise their over-allotment option to
      purchase an additional 675,000 Units of the Company, the undersigned agrees
      that
      he or she shall return to the Company for cancellation, at no cost, the number
      of Insider Shares held by the undersigned determined by multiplying [the
      number of shares held by the insider]
      by a
      fraction, (i) the numerator of which is 675,000 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 675,000.

    

    7.  [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 or any
      other compensation in the event the undersigned, any member of the family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination. - To
      be confirmed by the Company]

    

    8.  (a)
      For
      a
      period of time commencing from the date hereof and ending, in the case of
      Insider Shares, on the first anniversary of the consummation of the Business
      Combination (“Insider
      Share Lock-Up Period”)
      and,
      in the case of the Placement Warrants, sixty days after the consummation of
      the
      Business Combination (the “Placement
      Warrant Lock-Up Period”)
      (together with the Insider Share Lock-Up Period collectively the “Lock-Up
      Period”),
      the
      undersigned shall not (i) 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 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 Insider Shares, Placement Warrants, the Common Stock issuable upon exercise
      of the Placement Warrants or any securities convertible into or exercisable
      or
      exchangeable for the Insider Shares or Placement Warrants or other rights to
      purchase Common Stock or any such securities (the “Offering
      Securities”),
      (ii)
      enter into any swap or other arrangement that transfers to another, in whole
      or
      in part, any of the economic consequences of ownership of the Offering
      Securities, whether any such transaction is to be settled by delivery of Common
      Stock or such other securities, in cash or otherwise, or (iii) publicly announce
      any intention to effect any transaction specified in clause (i) or
      (ii).

     

                (b) Notwithstanding
      the foregoing, the undersigned may transfer his or her Insider Shares, the
      Placement Warrants, or shares of Common Stock issuable upon exercise of the
      Placement Warrants to (a) family members and trusts of permitted assignees
      for
      estate planning purposes, (b) a person who becomes the transferee by virtue
      of
      the laws of descent and distribution upon death or (c) officers, directors
      and
      employees of the Company, or their affiliates, in each case where the transferee
      agrees to the terms of this Agreement including, Section 1 and this Section
      [8].

     

     

                (c) The
      undersigned agrees that, after the applicable Lock-Up Period has elapsed, the
      Offering Securities shall only be transferable or saleable pursuant to a sale
      registered under the Securities Act of 1933, as amended, (the “Securities
      Act”)
      or
      pursuant to an available exemption from registration under the Securities
      Act.

     

    9.  (a)     The
      undersigned agrees to be the [Chairman of the Board of Directors](4) [President
      and Director](5) [Vice President and Director](6) [Director](7) [Special
      Advisor](8) of the Company and not resign from his or her position until the
      earlier of the consummation by the Company of a Business Combination or the
      liquidation of the Company,
      provided, however,
      that
      the undersigned is not obligated to contribute a minimum number of hours per
      week to the Company’s business or operations. The undersigned’s biographical
      information furnished to the Company and the Representatives, and attached
      hereto as Exhibit
      A,
      is true
      and accurate in all 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 Item 401 of Regulation S-K, promulgated
      under the Securities Act . The undersigned’s completed Questionnaire furnished
      to the Company and the Representatives is true and accurate in all respects.
      

    

    
      

      (4)
      Applicable only to Robert H.J. Lee.

    (5)
      Applicable only to Eric M. Zachs.

    (6)
      Applicable only to Nguyn Thi Quyn Anh.

    (7)
      Applicable only to Main Anh and Tien Dzung Nguyen.

    (8)
      Applicable only to Eliezer R. Katz.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b) The
      undersigned represents and warrants that: 

    

    (i) No
      petition under the Federal bankruptcy laws or any state insolvency law has
      been
      filed by or against, or a receiver, fiscal agent or similar officer was
      appointed by a court for the business or property of the undersigned, or any
      partnership in which the undersigned was or is a general partner at or within
      two years prior to the date hereof, or any corporation or business association
      of which the undersigned was an executive officer at or within two years prior
      to the date hereof; 

    

    (ii) The
      undersigned has not been convicted in any criminal proceeding nor is the
      undersigned currently a named subject of a pending criminal proceeding
      (excluding traffic violations and other minor offenses); 

    

    (iii) The
      undersigned has not been the subject of any order, judgment, or decree, not
      subsequently reversed, suspended or vacated, of any court of competent
      jurisdiction, permanently or temporarily enjoining the undersigned from, or
      otherwise limiting, the following activities: 

    

    (1) acting
      as
      a futures commission merchant, introducing broker, commodity trading advisor,
      commodity pool operator, floor broker, leverage transaction merchant, any other
      person regulated by the Commodity Futures Trading Commission, or an associated
      person of any of the foregoing, or as an investment adviser, underwriter, broker
      or dealer in securities, or as an affiliated person, director or employee of
      any
      investment company, bank, savings and loan association or insurance company,
      or
      engaging in or continuing any conduct or practice in connection with such
      activity; 

    

    (2) Engaging
      in any type of business practice; or 

    

    (3) Engaging
      in any activity in connection with the purchase or sale of any security or
      commodity or in connection with any violation of Federal or State securities
      laws or Federal commodities laws;

    

    (c) The
      undersigned has not been the subject of any order, judgment or decree, not
      subsequently reversed, suspended or vacated, of any Federal or State authority
      barring, suspending or otherwise limiting for more than sixty (60) days the
      right of the undersigned to engage in any activity described in paragraph
      (b)(iii) above, or to be associated with persons engaged in any such activity;
      

    

    (d) The
      undersigned has not been found by a court of competent jurisdiction in a civil
      action or by the SEC to have violated any Federal or State securities law,
      and
      the judgment in such civil action or finding by the SEC has not been
      subsequently reversed, suspended, or vacated; and 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (e) The
      undersigned has not been found by a court of competent jurisdiction in a civil
      action or by the Commodity Futures Trading Commission to have violated any
      Federal commodities law, and the judgment in such civil action or finding by
      the
      Commodity Futures Trading Commission has not been subsequently reversed,
      suspended or vacated.

    

    10.  The
      undersigned has full right and power, without violating any agreement by which
      he or she is bound, to enter into this letter agreement and to serve as
      [Chairman of the Board of Directors](9) [President and Director](10) [Vice
      President and Director](11) [Director](12)
      [Special Advisor](13) of the Company.

    

    11.  The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to the Representatives and their legal
      representatives or agents (including any investigative search firm retained
      by
      the Representatives) any information they may have about the undersigned’s
      background and finances (“Information”).
      Neither the Representatives nor their agents shall be violating the
      undersigned’s right of privacy in any manner in requesting and obtaining the
      Information and the undersigned hereby releases them from liability for any
      damage whatsoever in that connection.

    

    12.  This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him or her 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 of the United States of America for the Southern District of New
      York, and irrevocably submits to such jurisdiction, which jurisdiction shall
      be
      exclusive and (ii) waives any objection to such exclusive jurisdiction and
      that
      such courts represent an inconvenient forum. 

    

    13.  As
      used
      herein, (i) a “Business
      Combination”
shall
      mean an acquisition, or acquisition of control, by merger, capital stock
      exchange, asset acquisition, stock purchase or other similar business
      combination of one or more operating businesses that has its primary operating
      facilities located in the Socialist Republic of Vietnam or Asia; (ii)
“Insiders”
shall
      mean all officers, directors and security holders of the Company immediately
      prior to the IPO; (iii) “Insider
      Shares”
shall
      mean all of the shares of Common Stock of the Company owned by an Insider prior
      to the IPO; (iv) “IPO
      Shares”
shall
      mean the shares of Common Stock issued in the Company’s IPO; (v) “Trust
      Account”
shall
      mean the trust account established by the Company immediately prior to the
      consummation of its IPO and into which a certain amount of the net proceeds
      of
      the IPO is to be deposited; (vi) “Extended
      Period”
shall
      mean the extension, upon shareholder approval, of the period of time during
      which the Company may complete a Business Combination from 24 months to 36
      months, if the Company anticipates that it may not consummate a Business
      Combination within 24 months, if a letter of intent or definitive agreement
      with
      respect to a business combination has been entered into within 18 months; (vii)
      “Placement
      Warrant”
shall
      mean the warrants purchased by certain of the Insiders in a private placement
      immediately prior to the consummation of the IPO; and (viii) “Public
      Shareholders”
shall
      mean the shareholders that purchased shares of the Company’s Common Stock, that
      form a part of the Units, in the IPO. 

    

    
      
(9)
      Applicable only to Robert H.J. Lee.

    (10)
      Applicable only to Eric M. Zachs.

    (22)
      Applicable only to Nguyn Thi Quyn Anh.

    (32)
      Applicable only to Main Anh and Tien Dzung Nguyen.

    (33)
      Applicable only to Eliezer R. Katz.

    

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

      IN
      WITNESS WHEREOF, the undersigned have executed this letter agreement as of
      the
      date first written above.

     

    

    BBV
      VIETNAM S.E.A. ACQUISITION CORP.

    

    

       

      By:
      ______________________________________________

       
      Name:

    Title:

    

    

       

       

    ______________________________________________

    Name
      of
      Insider:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A 

     

     

    [Insider
      biographical information]Exhibit
      10.2

     

    FORM OF INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT (this “Agreement”)
      is
      made as of [●], 2007, by and between BBV Vietnam S.E.A. Acquisition Corp. (the
“Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form S-1, No. 333-146829 (the
“Registration
      Statement”),
      for
      its initial public offering of securities (the “IPO”)
      has
      been declared effective as of the date hereof by the Securities and Exchange
      Commission (the “Effective
      Date”);
      

     

    WHEREAS,
      Ladenburg Thalmann & Co. Inc. and Chardan Capital Markets, LLC are acting as
      the co-lead managing underwriters (the “Representatives”)
      in the
      IPO pursuant to an underwriting agreement between the Company and the
      Representative (the “Underwriting
      Agreement”);

     

    WHEREAS,
      as described in the Company’s Registration Statement, and in accordance with the
      Company’s Amended and Restated Articles of Incorporation, upon execution of this
      Agreement or as promptly thereafter as practicable, the Company shall deliver
      to
      the Trustee an amount equal to the sum of (i) $35,314,000 of the net proceeds
      of
      the IPO, including $1,080,000 in deferred underwriting compensation (or
      $40,498,000 of the net proceeds, including $1,242,000 in deferred underwriting
      compensation, if the over-allotment option is exercised in full) and (ii)
      $1,425,000 of the proceeds from the Company’s issuance and sale in a private
      placement of 1,017,857 warrants to certain of its shareholders to be deposited
      and held in a trust account for the benefit of the Company and the holders
      of
      the Company’s common stock, par value $0.0001 per share, issued in the IPO (the
“Public
      Shareholders”).
      The
      amount to be delivered to the Trustee is referred to herein as the “Property,”
and
      the parties for whose benefit the Trustee shall hold the Property are referred
      to, together with the Company, as the “Beneficiaries;”

     

    WHEREAS,
      pursuant to the Underwriting Agreement, a portion of the Property equal to
      $1,080,000 (or $1,242,000, if the underwriters’ over-allotment option is
      exercised in full, or such amount as is specified in a notice pursuant to
      Paragraph 2(d) hereof) is attributable to deferred underwriting commissions
      that
      will become payable by the Company to the Representatives upon the consummation
      of an Initial Business Combination (as defined in the Company’s Amended and
      Restated Articles of Incorporation) (the “Deferred
      Discount”);
      and

     

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    NOW,
      THEREFORE, in consideration of the premises herein contained and other good
      and
      valuable consideration, the sufficiency of which is hereby acknowledged, the
      parties hereby agree as follows:

     

    1.  Agreements
      and Covenants of Trustee.
      The
      Trustee is hereby appointed to serve as Trustee hereunder, and the Trustee
      hereby agrees to act as Trustee upon the terms and conditions set forth herein.
      The Trustee hereby agrees and covenants to:

     

    (a)  Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement, in a segregated trust account (the “Trust
      Account”)
      established by the Trustee at JP Morgan Chase Bank;

     

    (b)  Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

     

    (c)  In
      a
      timely manner, upon the written instruction of the Company, to invest and
      reinvest the Property only in U.S. “government securities” within the meaning of
      Section 2(a)(16) of the Investment Company Act of 1940, as amended (the
“Investment
      Company Act”),
      with
      a maturity of 180 days or less or in money market funds selected by the Company
      which invest principally in either short-term securities issued or guaranteed
      by
      the United States having a rating in the highest investment category granted
      thereby by a recognized credit rating agency at the time of acquisition or
      tax
      exempt municipal bonds issued by governmental entities located within the United
      States or otherwise meeting the conditions under Rule 2a-7 under the Investment
      Company Act;

     

    (d)  Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

     

    (e)  
      Promptly
      notify the Company and JPMorgan Chase Bank of all communications received by
      it
      with respect to any Property requiring action by the Company;

     

    (f)  Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Company and
      Trust Account;

     

    (g)  Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company to do so;
      and

     

    (h)  Render
      to
      the Company and to such other person as the Company may instruct monthly written
      statements of the activities of and amounts in the Trust Account reflecting
      all
      receipts and disbursements of the Trust Account.

     

    2.  Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants to:

     

    (a)  Give
      all
      instructions to the Trustee hereunder in writing, signed by the Company’s
      President or Chairman. In addition, except with respect to its duties under
      Paragraph 3, the Trustee shall be entitled to rely on, and shall be protected
      in
      relying on, any verbal or telephonic advice or instruction which it in good
      faith believes to be given by any one of the persons authorized above to give
      written instructions, provided that the Company shall promptly confirm such
      instructions in writing;

     

    (b)  Hold
      the
      Trustee harmless and indemnify the Trustee from and against any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross negligence or willful misconduct. Promptly after the receipt by the
      Trustee of notice of demand or claim or the commencement of any action, suit
      or
      proceeding, pursuant to which the Trustee intends to seek indemnification under
      this Paragraph, it shall notify the Company in writing of such claim
      (hereinafter referred to as the “Indemnified
      Claim”).
      The
      Company shall have the right to conduct and manage the defense against such
      Indemnified Claim, provided that the Company shall obtain the consent of the
      Trustee with respect to the selection of counsel, which consent shall not be
      unreasonably withheld. The Company may not agree to settle any Indemnified
      Claim
      without the prior written consent of the Trustee, which consent shall not be
      unreasonably withheld. The Trustee may participate in such action with its
      own
      counsel at its own expense;

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (c)  Pay
      the
      Trustee a fee of $[•]
      for its
      services as Trustee at the consummation of the IPO (separately and in addition
      to making payments to the Trustee of a monthly fee of $[•]
      for
      transfer agent services, of a one-time fee of $[•]
      for
      warrant agent services and a closing fee of $[•]
      in
      accordance with the terms of a separate fee letter delivered to the Company
      on
      [•],
      2007,
      as subsequently amended from time to time). The Company shall not be responsible
      for any other fees or charges of the Trustee except as may be provided in
      Paragraph 2(b) hereof. It is expressly understood that the Property shall not
      be
      used to pay such fees unless and until it is distributed to the Company pursuant
      to Section 3. The Trustee shall refund to the Company the monthly fee for
      Trustee services (on a pro rata basis) with respect to any period after the
      liquidation of the Trust Account;

     

    (d)  Within
      five business days after the underwriters’ over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, provide the
      Trustee with a notice in writing (with a copy to the Representatives) of the
      total amount of the Deferred Discount, which shall in no event be less than
      $1,080,000;

     

    (e)  In
      connection with any vote of the Company’s shareholders on whether to approve an
      Initial Business Combination, the Company’s perpetual existence and the Extended
      Period (as defined in Paragraph 3), provide to the Trustee an affidavit or
      certificate of a firm regularly engaged in the business of soliciting proxies
      and tabulating shareholder votes (which firm may be the Trustee) verifying
      the
      vote of the Company’s shareholders regarding such Initial Business Combination,
      the Company’s perpetual existence or the Extended Period;

     

    (f)  Provide
      JPMorgan Chase Bank with a copy of any Termination Letters (as defined below)
      and/or any other correspondence that it sends to the Trustee with respect to
      any
      proposed withdrawal from the Trust Account promptly after it issues the same;
      and

     

    (g)  Instruct
      the Trustee to make only those distributions that are permitted under this
      Agreement, and refrain from instructing the Trustee to make any distributions
      that are not permitted under this Agreement.

     

    3.  Liquidation
      and Distribution of Trust Account Property.
      The
      Trustee shall commence liquidation of the Trust Account only upon receipt of,
      and only in accordance with the terms of, a letter in form substantially similar
      to that attached hereto as either Exhibit
      A,
      Exhibit
      B
      or
Exhibit
      C
      (a
“Termination
      Letter”),
      signed on behalf of the Company by its President and affirmed by the Chairman
      or
      Vice Chairman of the Board of Directors, and complete the liquidation of the
      Trust Account and distribute the Property in the Trust Account only as directed
      in the Termination Letter and any other documents referred to therein;
provided,
      however,
      that
      the Trustee shall disburse such funds from the Trust Account (i) from time
      to
      time as may be necessary timely to pay any taxes incurred as a result of
      interest or other income earned on the Property held in the Trust Account,
      only
      upon receipt and in accordance with the terms of a letter in form substantially
      similar to that attached hereto as Exhibit
      D
      (a
“Tax
      Disbursement Letter”),
      signed on behalf of the Company by its President or Chairman, and complete
      the
      disbursement of funds from the Trust Account and distribute such funds only
      as
      directed in the Tax Disbursement Letter and any other documents referred to
      therein, and (ii) from time to time, only upon receipt and in accordance with
      the terms of a letter in form substantially similar to that attached hereto
      as
Exhibit
      E
      (a
“Disbursement
      Letter”),
      signed on behalf of the Company by its President or Chairman, the Trustee shall
      disburse to the Company such amount as may be requested by the Company as
      directed in the Disbursement Letter and the other documents referred to therein,
      provided, however, that the aggregate amount distributed by the Trustee to
      the
      Company pursuant to this Paragraph 3(ii) may not exceed the lesser of (y) the
      aggregate amount of interest and any other income actually received or paid
      on
      amounts in the Trust Account less an amount equal to estimated taxes that are
      or
      will be due on such income at an assumed rate of 40% and (z) $[•].
      

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    In
      the
      event that a Termination Letter has not been received by the Business
      Combination Deadline Date, the Trust Account shall be liquidated in accordance
      with the procedures set forth in the Termination Letter attached as Exhibit
      B
      hereto
      and distributed to the shareholders of record. The “Business
      Combination Deadline Date”
means
      the date that is eighteen (18) months from the date of the Prospectus, subject
      to extension to twenty-four (24) months, if the Company has entered into a
      letter of intent or definitive agreement with respect to a business combination
      within such eighteen (18) month period and subject to extension to thirty-six
      (36) months (the “Extended
      Period”)
      in the
      event that the Company anticipates that it may not be able to consummate the
      Initial Business Combination within the twenty-four (24) month period and seeks
      shareholder approval to extend the period of time to consummate the Initial
      Business Combination by an additional twelve (12) months and the shareholders
      approve such extension.

     

    4.  Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a)  Take
      any
      action with respect to the Property, other than as directed in Paragraphs 1
      and
      3 hereof, and the Trustee shall have no liability to any party except for
      liability arising out of its own gross negligence or willful
      misconduct;

     

    (b)  Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property, unless and until it shall have received instructions from
      the
      Company given as provided herein to do so and the Company shall have advanced
      or
      guaranteed to it funds sufficient to pay any expenses incident
      thereto;

     

    (c)  Change
      the investment of any Property, other than in compliance with Paragraph
      1(c);

     

    (d)  Refund
      any depreciation in principal of any Property;

     

    (e)  Assume
      that the authority of any person designated by the Company to give instructions
      hereunder shall not be continuing unless provided otherwise in such designation,
      or unless the Company shall have delivered a written revocation of such
      authority to the Trustee;

     

    (f)  The
      Company or to anyone else for any action taken or omitted by it, or any action
      suffered by it to be taken or omitted, in good faith and in the exercise of
      its
      own best judgment, except for its gross negligence or willful misconduct. The
      Trustee may rely conclusively and shall be protected in acting upon any order,
      notice, demand, certificate, opinion or advice of counsel (including counsel
      chosen by the Trustee), statement, instrument, report or other paper or document
      (not only as to its due execution and the validity and effectiveness of its
      provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Trustee, in good faith, to be
      genuine and to be signed or presented by the proper person or persons. The
      Trustee shall not be bound by any notice or demand, or any waiver, modification,
      termination or rescission of this Agreement or any of the terms hereof, unless
      evidenced by a written instrument delivered to the Trustee signed by the proper
      party or parties and, if the duties or rights of the Trustee are affected,
      unless it shall give its prior written consent thereto;

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (g)  Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement; and

     

    (h)  Subject
      to the requirements of Paragraph 3 of this Agreement, pay any taxes on behalf
      of
      the Trust Account to any governmental entity or taxing authority.

     

    5.  Trust
      Account Waiver.
      The
      Trustee has no right, title, interest, or claim of any kind (“Claim”)
      in or
      to any monies in the Trust Account, and hereby waives any claim in or to any
      monies in the Trust Account it may have in the future.

     

    6.  Termination.
      This
      Agreement shall terminate as follows:

     

    (a)  If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee. At such time that the Company notifies the Trustee that a successor
      trustee has been appointed by the Company and has agreed to become subject
      to
      the terms of this Agreement, the Trustee shall transfer the management of the
      Trust Account to the successor trustee, including but not limited to the
      transfer of copies of the reports and statements relating to the Trust Account,
      whereupon this Agreement shall terminate (except with respect to Paragraph
      2(b)); provided, however, that, in the event that the Company does not locate
      a
      successor trustee within 90 days of receipt of the resignation notice from
      the
      Trustee, the Trustee may submit an application to have the Property deposited
      with the United States District Court for the Southern District of New York
      and
      upon such deposit, the Trustee shall be immune from any liability whatsoever
      that arises due to any actions or omissions to act by any party after such
      deposit; or

     

    (b)  At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Paragraph 3 hereof and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate, except with respect to Paragraph 2(b).

     

    7.  Miscellaneous.
      (a)
      The
      Company and the Trustee each acknowledge that the Trustee will follow the
      security procedures set forth below with respect to funds transferred from
      the
      Trust Account. Upon receipt of written instructions, the Trustee will confirm
      such instructions with an Authorized Individual at an Authorized Telephone
      Number listed on the attached Exhibit
      F.
      The
      Company and the Trustee will each restrict access to confidential information
      relating to such security procedures to authorized persons. Each party must
      notify the other party immediately if it has reason to believe unauthorized
      persons may have obtained access to such information, or of any change in its
      authorized personnel. In executing funds transfers, the Trustee will rely upon
      account numbers or other identifying numbers of a beneficiary, beneficiary’s
      bank or intermediary bank, rather than names. The Trustee shall not be liable
      for any loss, liability or expense resulting from any error in an account number
      or other identifying number, provided it has accurately transmitted the numbers
      provided.

     

    (b)  This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York. It may be executed in several counterparts,
      each
      one of which shall constitute an original, and together shall constitute but
      one
      instrument.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (c)  This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. This Agreement or any provision
      hereof may be changed, waived, amended or modified only by a writing signed
      by
      each of the parties hereto, provided, however, that no such amendment or
      modification (other than to correct a typographical or similar technical error)
      may be made to paragraphs 1, 2(e), 3, 4, 5, 6, 7(c) or 6(g) or to Exhibits
      A, B
      or C hereof without the consent of the Public Shareholders, it being the
      specific intention of the parties hereto that each Public Shareholder is and
      shall be a third-party beneficiary of this paragraph 7(c) with the same right
      and power to enforce this paragraph 7(c) as either of the parties hereto, and
      provided, further, that this Agreement may not be changed, waived, amended
      or
      modified in such a manner as to adversely affect the right of the Underwriters
      to receive the Deferred Discount as contemplated herein without the written
      consent of the Representative. 

     

    (d)  The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the City of New York for purposes of resolving any disputes
      hereunder.

     

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

    

      
        	
                If
                  to the Trustee, to:

              
	 
	 	
                Continental
                  Stock Transfer & Trust Company 

              
	 	
                17
                  Battery Place 

              
	 	
                New
                  York, New York 10004 

              
	 	
                Attn:
                  Steven G. Nelson 

              
	 	
                Fax
                  No.: (212) 509-5150 

              
	 	 
	 
	
                If
                  to the Company, to:

              
	 
	 	
                BBV
                  Vietnam S.E.A. Acquisition Corp. 

              
	 	
                40
                  Woodland Street

              
	 	
                Hartford,
                  CT 06105

              
	 	
                Attn:
                  Eric M. Zachs, President

              
	 	
                Attn:
                  Robert H.J. Lee, Chairman

              
	 	
                Fax
                  No.: (860) - [•]

              
	 	 
	 
	
                in
                  either case with a copy to:

              
	 
	 	
                JPMorgan
                  Chase Bank

              
	 	
                [______________]

              
	 	
                Attn:
                  [_________] 

              
	 	
                Fax
                  No.: (212) [•]
                  

              
	 
	 
	
                and

              
	 
	 	
                Mintz
                  Levin Cohn Ferris Glovsky and Popeo, P.C. 

              
	 	
                666
                  Third Avenue

              
	 	
                New
                  York, New York 10017 

              
	 	
                Attn:
                  Kenneth R. Koch, Esq. 

              
	 	
                Fax
                  No.: (212) 983-3115 

              
	 	 
	 
	 
	
                and

              
	 
	 	
                Richardson
                  & Patel LLP

              
	 	
                405
                  Lexington Avenue

              
	 	
                New
                  York, New York 10174

              
	 	
                Attn:
                  Jody R. Samuels. Esq.,

              
	 	
                Fax
                  No.: (212) 907-6687

              

      

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (f)  No
      party
      hereto may assign this Agreement without the prior written consent of the
      Company and JPMorgan Chase Bank, which consent shall not be unreasonably
      withheld.

     

    (g)  Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder. The Trustee acknowledges
      and agrees that it shall not make any claims or proceed against the Trust
      Account, including by way of set-off, and shall not be entitled to any funds
      in
      the Trust Account under any circumstance.

     

    (h)  The
      Trustee acknowledges and agrees that it is the specific intention of the parties
      hereto that the Representative is and shall be a third-party beneficiary of
      the
      provisions of this Agreement pertaining to the Deferred Discount (including
      Section 7(c)) and the Trustee’s obligations under this Agreement with respect
      thereto (but solely of those provisions and solely with respect to such
      obligations of the Trustee) with the same right and power to enforce those
      provisions as either of the parties hereto.

     

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

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

    
      	 	 	 
	 	CONTINENTAL
              STOCK TRANSFER & TRUST COMPANY,
              as Trustee
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Steven G. Nelson
	 	Title:
              Chairman

      	 	 	 
	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: Eric
              M. Zachs
	 	Title: President

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    [Name]

    [Address]

    [Address]

    Attn:
      [____________________]

     

    Re:
      Trust
      Account No. [__________] Termination Letter

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to Paragraph 3 of the Investment Management Trust Agreement between BBV Vietnam
      S.E.A. Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”),
      dated
      as of __________, 2007 (the “Trust
      Agreement”),
      this
      is to advise you that the Company has entered into an agreement with
      ____________________ to consummate an Initial Business Combination (as defined
      in the Trust Agreement) on or about __________. The Company shall notify you
      at
      least 48 hours in advance of the actual date of the consummation of the Initial
      Business Combination (the “Consummation
      Date”).
      Capitalized terms used but not defined herein shall have the meanings given
      them
      in the Trust Agreement.

     

    Pursuant
      to Paragraph 2(e) of the Trust Agreement, we are providing you with an affidavit
      or a certificate of ____________________ verifying the vote of the Company’s
      shareholders duly approving the Initial Business Combination and the Company’s
      perpetual existence in accordance with the terms of the Company’s Amended and
      Restated Articles of Incorporation. The affidavit or certificate includes the
      identities of the Public Shareholders who voted against the Initial Business
      Combination and properly exercised their conversion rights in connection
      therewith.

     

    In
      accordance with the terms of the Trust Agreement, we hereby instruct you to
      commence liquidation of the Trust Account so that, on the Consummation Date,
      all
      funds held in the Trust Account will be immediately available for transfer
      to
      the account or accounts that the Company shall direct.

     

    On
      the
      Consummation Date: (i) counsel for the Company shall deliver to you written
      notification that the Initial Business Combination has been consummated, (ii)
      the Company shall deliver to you written instructions with respect to the
      transfer of the funds held in the Trust Account other than the Deferred Discount
      (the “Instruction
      Letter”)
      and
      (iii) the Representatives shall deliver to you written instructions for delivery
      of the Deferred Discount. You are hereby directed and authorized to transfer
      the
      funds held in the Trust Account immediately upon your receipt of written notice
      from counsel and the Instruction Letter, (a) to Public Shareholders who
      exercised their conversion rights in connection with the Initial Business
      Combination, in an amount equal to their pro rata share of the amounts in the
      Trust Account as of two business days prior to the Consummation Date (including
      the Deferred Discount and any income actually received on the Trust Account
      balance and held in the Trust Account, but less an amount equal to estimated
      taxes that are or will be due on such income at an assumed rate of 40%); (b)
      to
      the Representative in an amount equal to the Deferred Discount as so directed
      by
      them, and (c) the remainder in accordance with the terms of the Instruction
      Letter. In the event that certain deposits held in the Trust Account may not
      be
      liquidated by the Consummation Date without penalty, you will notify the Company
      of the same, and the Company shall direct you as to whether such funds should
      remain in the Trust Account and be distributed after the Consummation Date
      to
      the Company or be distributed immediately and the penalty incurred. Upon the
      distribution of all the funds in the Trust Account pursuant to the terms hereof,
      the Trust Agreement shall be terminated.

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

     

    In
      the
      event that the Initial Business Combination is not consummated on the
      Consummation Date and we have not notified you on or before the Consummation
      Date of a new date for consummation of the Initial Business Combination that
      is
      to take place within three business days of the Consummation Date, then the
      funds held in the Trust Account shall be reinvested as provided in Paragraph
      1(c) of the Trust Agreement on the business day immediately following the
      Consummation Date.

    
      	 	 	 
	 	Very truly yours,
	 	 
	 	CONTINENTAL
              STOCK TRANSFER & TRUST COMPANY,
              as Trustee
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Steven G. Nelson
	 	Title:
              Chairman

      	 	 	 
	 	 
	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: Eric
              M. Zachs
	 	Title: President

    

     

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    [Name]

    [Address]

    [Address]

    Attn:
      [____________________]

     

    Re:
      Trust
      Account No. [__________] Termination Letter

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to Paragraph 3 of the Investment Management Trust Agreement between BBV Vietnam
      S.E.A. Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company, dated as of __________, 2007
      (the “Trust
      Agreement”),
      this
      is to advise you that the Company’s existence expired in accordance with the
      terms of its Amended and Restated Articles of Incorporation on [date]
      and the
      Company is proceeding to distribute its assets and liquidate. Capitalized terms
      used but not defined herein shall have the meanings given them in the Trust
      Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize and
      request that you: (i) to the extent that there is any interest accrued in the
      Trust Account not required to be used to pay income taxes on interest income
      earned on the Trust Account balance in accordance with the Tax Disbursement
      Letter included herewith, which provides a full accounting of Tax Payments
      (as
      defined therein) made by the Company through the date of this letter but not
      yet
      reimbursed by distributions from the Trust, release to us an amount of
      $__________ to pay costs and expenses incurred in connection with its
      dissolution and liquidation; and (ii) commence liquidation of the Trust Account
      as part of the Company’s plan of dissolution and distribution. In connection
      with this liquidation, you are hereby authorized to establish a record date
      for
      the purposes of determining the shareholders of record entitled to receive
      their
      per share portion of the Trust Account. The record date shall be within ten
      (10)
      days of the liquidation date, or as soon thereafter as is practicable. You
      will
      notify the Company in writing as to when all of the funds in the Trust Account
      will be available for immediate transfer (the “Transfer
      Date”)
      in
      accordance with the terms of the Trust Agreement and the Amended and Restated
      Articles of Incorporation of the Company.

     

    You
      shall
      commence distribution of such funds in accordance with the terms of the Trust
      Agreement and the Amended and Restated Articles of Incorporation of the Company
      and you shall oversee the distribution of the funds.

    
      
        
        

      

      
        B-1

        
          

        

      

      
        
        

      

    

    Upon
      the
      payment of all the funds in the Trust Account, the Trust Agreement shall be
      terminated.

    
      	 	 	 
	 	Very truly yours,
	 	 
	 	CONTINENTAL
              STOCK TRANSFER & TRUST COMPANY,
              as Trustee
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
              Steven G. Nelson
	 	Title:
              Chairman
	 	 

      	 	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: Eric
              M. Zachs
	 	Title: President

    

     

     

    AFFIRMED:

     

    
      	Dated:	 	 
	 	[____________________]
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: 
	 	Title: Authorized
              Officer

      	 	 	 
	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: Eric
              M. Zachs
	 	Title: President

    

     

    
      
        
        

      

      
        B-2

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    [Name]

    [Address]

    [Address]

    Attn:
      [____________________]

     

    Re:
      Trust
      Account No. [__________] Termination Letter

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to paragraph 3 of the Investment Management Trust Agreement between BBV Vietnam
      S.E.A. Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company (the “Trustee”),
      dated
      as of __________, 2007 (the “Trust
      Agreement”),
      this
      is to advise you that the Board of Directors of the Company has voted to
      dissolve and liquidate the Company. Attached hereto is a copy of the minutes
      of
      the meeting of the Board of Directors of the Company relating thereto, certified
      by the Secretary of the Company as true and correct and in full force and effect
      as of the date hereof.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account as part of the Company’s plan of
      dissolution and distribution. In connection with this liquidation, you are
      hereby authorized to establish a record date for the purposes of determining
      the
      shareholders of record entitled to receive their per share portion of the Trust
      Account (as defined in the Trust Agreement). The record date shall be within
      ten
      days of the liquidation date, or as soon thereafter as is practicable. You
      will
      notify the Company in writing as to when all of the funds in the Trust Account
      will be available for immediate transfer (the “Transfer
      Date”)
      in
      accordance with the terms of the Trust Agreement and the Amended and Restated
      Articles of Incorporation of the Company.

     

    You
      shall
      commence distribution of such funds in accordance with the terms of the Trust
      Agreement and the Amended and Restated Articles of Incorporation of the Company
      and you shall oversee the distribution of the funds.

     

    Upon
      the
      payment of all the funds in the Trust Account, the Trust Agreement shall be
      terminated. 

    
      
        	 	 	 
	 	Very truly yours,
	 	 
	 	CONTINENTAL
                STOCK TRANSFER & TRUST COMPANY,
                as Trustee
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Name:
                Steven G. Nelson
	 	Title:
                Chairman
	 	 

        	 	 	 
	 	BBV
                VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Name: Eric
                M. Zachs
	 	Title: President

      

       

       

    

    AFFIRMED:

     

    Dated: __________,
      2007

    
      	 	 	 
	 	[____________________]
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: 
	 	Title: Authorized
              Officer

    

     

    
      
        
        

      

      
        C-1

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      D

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    [Name]

    [Address]

    [Address]

    Attn:
      [____________________]

     

    Re:
      Trust
      Account No. [__________] Termination Letter

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to the Investment Management Trust Agreement between BBV Vietnam S.E.A.
      Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company dated as of __________ (the
“Trust
      Agreement”),
      this
      is to advise you that the Trust Account, as defined in the Trust Agreement,
      has
      incurred a total of $__________ in taxes (the “Tax
      Payments”)
      for
      the period from __________ __, 200__ to __________ __, 200__ (the
“Tax
      Period”)
      as a
      result of interest and other income earned on the Property, as defined in the
      Trust Agreement, during the Tax Period.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      distribute from the Trust Account proceeds from the Property equal to the
      aggregate Tax Payments on such dates, in such amounts and to such payees as
      indicated on the Schedule of Tax Payments attached hereto as Schedule
      1.

     

    
      	 	Very truly yours,
	 	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name: Eric
              M. Zachs
	 	Title: President

    

     

    
      
        
        

      

      
        D-1

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      1

     

    SCHEDULE
      OF TAX PAYMENTS

     

    [Payee]

    Payment
      Date:

    Amount:

    Address:

    

     

    [Payee]

    Payment
      Date:

    Amount:

    Address:

    

     

    [Payee]

    Payment
      Date:

    Amount:

    Address:

     

    
      
        
        

      

      
        SCH-1

        
          

        

      

      
        
        

      

    

    EXHIBIT
      E

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    [Name]

    [Address]

    [Address]

     

    Attn:
      [____________________]

     

    Re:
      Trust
      Account No. [__________] Disbursement Letter

     

    Ladies
      and Gentlemen:

     

    Pursuant
      to Section 3(ii) of the Investment Management Trust Agreement between BBV
      Vietnam S.E.A. Acquisition Corp. (the “Company”)
      and
      Continental Stock Transfer & Trust Company dated as of __________, 2007 (the
“Trust
      Agreement”),
      we
      hereby authorize you to disburse from the Trust Account proceeds from the
      Property, as defined in the Trust Agreement, equal to $__________, to __________
      via wire transfer on __________, 200__.

     

    
      	 	Very
              truly
              yours, 
	 	 	 
	 	BBV
              VIETNAM S.E.A. ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name: Eric
                M. Zachs

            
	 	Title: President

    

     

    
      
        
        

      

      
        E-1

        
          

        

      

      
        
        

      

    

    EXHIBIT
      F

     

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

              FOR
                TELEPHONE CALL BACK

            	
              AUTHORIZED
                TELEPHONE NUMBER(S)

            
	 	 
	
              Company:

            	 
	 	 
	
              BBV
                Vietnam S.E.A. Acquisition Corp.

              40
                Woodland Street

              Hartford,
                CT 06105

              Attn:
                Eric M. Zachs, President

              Attn:
                Robert H.J. Lee, Chairman

            	
              860-727-5734

            
	 	 
	
              Trustee:

            	 
	 	 
	
              Continental
                Stock Transfer & Trust Company

              17
                Battery Place

              New
                York, New York 10004

              Attn:
                Steven G. Nelson

            	
              [(___)
                ___-____]

            

    

     

    
      
        
        

      

      
        F-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}]]