Document:

Unassociated Document

    

      Exhibit
        10.2

      INVESTMENT
        MANAGEMENT TRUST AGREEMENT

       

      This
        Agreement is made as of ___________, 2006 by and between Crossfire Capital
        Corporation (the "Company") and American Stock Transfer & Trust Company (the
        "Trustee").

       

      WHEREAS,
        the
        Company's Registration Statement on Form S-1, No. 333-______ (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,
        Ferris,
        Baker Watts, Incorporated (“FBW”) is acting as the representative of the
        underwriters in the IPO; 

       

      WHEREAS,
        as
        described in the Company's Registration Statement, $57,750,000 of the gross
        proceeds of the IPO as herein provided ($66,300,000) if the underwriter's
        over-allotment option is exercised in full) will be delivered to the Trustee
        to
        be deposited and held in a trust account for the benefit of the Company,
        FBW and
        the holders of the Company's common stock, par value $.0001 per share, issued
        in
        the IPO (the amount to be delivered to the Trustee will be referred to herein
        as
        the "Property"; the stockholders for whose benefit the Trustee shall hold
        the
        Property will be referred to as the "Public Stockholders," and the Public
        Stockholders, FBW and the Company will be referred to together as the
        "Beneficiaries") and in the event the securities offered in the IPO are
        registered in Colorado, pursuant to Section 11-51-302(6) of the Colorado
        Revised
        Statutes (the “CRS”). A copy of Section 11-51-302(6) of the CRS is attached
        hereto and made a part hereof; 

       

      WHEREAS,
        a
        portion of the Property consists of $1,350,000 (or $1,350,000 if the
        underwriter's over-allotment option is exercised in full) attributable to
        the
        underwriter's discount and non-accountable expenses allowance which FBW has
        agreed to deposit in the Trust Account (defined below); 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 mutual covenants hereinafter set forth, the parties
        agree
        as follows:

       

      1. AGREEMENTS
        AND COVENANTS OF TRUSTEE. The Trustee hereby agrees and covenants
        to:

       

      (a) hold
        the
        Property in trust for the Beneficiaries in accordance with the terms of this
        Agreement, including, without limitation, the terms of Section 11-51-302(6)
        of
        the CRS, in a segregated trust account (the "Trust Account") established
        by the
        Trustee at a branch of Lehman Brothers Inc. selected by the
        Trustee;

       

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

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (c) in
        a
        timely manner, upon the instruction of the Company, to invest and reinvest
        the
        Property in any "Government Security." As used herein, Government Security
        means
        any Treasury Bill issued by the United States, having a maturity of one hundred
        and eighty days or less;

       

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

       

      (e) notify
        the Company and FBW 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 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 written instructions
        of the Company to do so;

       

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

       

      (i) as
        of the
        date of the consummation of a business combination (the “Business Combination”),
        commence liquidation of the Trust Account upon receipt of the Officers’
Certificate signed by the Chief Executive Officer and Chief Financial Officer
        and in accordance with the terms of a letter (the "Termination Letter"),
        in a
        form substantially similar to that attached hereto as Exhibit
        A,
        signed
        on behalf of the Company by its President, Chief Financial Officer or Chairman
        of the Board and Secretary or Assistant Secretary. The Trustee shall complete
        the liquidation of the Trust Account and distribute the Property in the Trust
        Account to the Beneficiaries as directed in the Termination Letter and the
        other
        documents referred to therein. The Trustee understands and agrees that
        disbursements from the Trust Account shall be made only pursuant to a duly
        executed Termination Letter, together with the other documents referenced
        herein, including, without limitation, an independently certified oath and
        report of inspector of election in respect of the shareholder vote in favor
        of
        the Business Combination. In all cases, the Trustee shall provide FBW with
        a
        copy of any Termination Letters, Officers’ Certificates and/or any other
        correspondence that it receives with respect to any proposed withdrawal from
        the
        Trust Account promptly after it receives same; and

       

      (j) as
        of the
        date, 18 months from the date of this Agreement (the “LOI Termination Date”) (or
        24 months from the date hereof in the event the Company has executed the
        Letter
        of Intent (defined below) prior to the LOI Termination Date, but failed to
        consummate a Business Combination (the “Second Termination Date”)), commence
        liquidation of the Trust Account. The Trustee, upon consultation with the
        Company and FBW, shall deliver a notice to Public Stockholders of record
        as of
        the LOI Termination Date or Second Termination Date, whichever the case may
        be,
        by U.S. mail or via the Depository Trust Company (“DTC”), within five days of
        the LOI Termination Date or Second Termination Date, to notify the Public
        Stockholders of such event and take such other actions as it may deem necessary
        to inform the Beneficiaries. The Trustee shall deliver to each Public
        Stockholder its ratable share of the Property against satisfactory evidence
        of
        delivery of the stock certificates through DTC, its Deposit Withdraw Agent
        Commission (DWAC) system or as otherwise presented to the Trustee.
        Notwithstanding the foregoing, if the Trustee receives a bona fide, executed
        letter of intent or engagement letter (the “Letter of Intent”) for a Business
        Combination prior to the LOI Termination Date accompanied by an Officers’
Certificate as described in Section 2(e) hereof, then the Trustee shall forego
        or suspend any liquidation of the Trust Account until the earlier of a Business
        Combination or the Second Termination Date. 

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      2. AGREEMENTS
        AND COVENANTS OF THE COMPANY.

       

      (a) The
        Company hereby agrees and covenants to provide all instructions to the Trustee
        hereunder in writing, signed by the Company's President or Chairman of the
        Board
        and Chief Financial Officer. In addition, except with respect to its duties
        under Sections 1(i) and (j) above, the Trustee shall be entitled to rely
        on, and
        shall be protected in relying on, any verbal or telephonic advice or instruction
        which it in good faith believes to be given by any one of the persons authorized
        above to give written instructions, provided that the Company and/or FBW,
        whichever has the authority to issue the instructions, shall promptly confirm
        such instructions in writing;

       

      (b) The
        Company hereby agrees and covenants to hold the Trustee harmless and indemnify
        the Trustee from and against, any and all expenses, including reasonable
        counsel
        fees and disbursements, or loss suffered by the Trustee in connection with
        any
        action, suit or other proceeding brought against the Trustee involving any
        claim, or in connection with any claim or demand which in any way arises
        out of
        or relates to this Agreement, the services of the Trustee hereunder, or the
        Property or any income earned from investment of the Property, except for
        expenses and losses resulting from the Trustee's gross negligence or willful
        misconduct. Promptly after the receipt by the Trustee of notice of demand
        or
        claim or the commencement of any action, suit or proceeding, pursuant to
        which
        the Trustee intends to seek indemnification under this paragraph, it shall
        notify the Company in writing of such claim (hereinafter referred to as the
        "Indemnified Claim"). The Trustee shall have the right to conduct and manage
        the
        defense against such Indemnified Claim, provided that the Trustee shall obtain
        the consent of the Company with respect to the selection of counsel, which
        consent shall not be unreasonably withheld. The Company may participate in
        such
        action with its own counsel;

       

      (c) Pay
        the
        Trustee an initial acceptance fee of [$_______]
        and an
        annual fee of [$______]
        (it
        being expressly understood that the Property shall not be used to pay such
        fee).
        The Company shall pay the Trustee the initial acceptance fee and first year's
        fee at the consummation of the IPO and thereafter on the anniversary of the
        Effective Date. The Trustee shall refund to the Company the fee (on a
pro
        rata
        basis)
        with respect to any period after the liquidation of the Trust Fund. The Company
        shall not be responsible for any other fees or charges of the Trustee except
        as
        may be provided in Section 2(b) hereof (it being expressly understood that
        the
        Property shall not be used to make any payments to the Trustee under such
        section);

       

      (d) In
        the
        event that the Company consummates the Business Combination and the Trust
        Account is liquidated in accordance with Section 1(i) hereof, the Trustee
        or
        another independent party designated by FBW shall act as the inspector of
        election to certify the results of the shareholder vote; and

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (e) The
        Officers’ Certificate referenced in Section 1(i) and (j) hereof shall require
        the Chief Executive Officer and Chief Financial Officer of the Company to
        each
        certify the following (where applicable): (1) prior to the LOI Termination
        Date,
        the Company has entered into a bona
        fide
        Letter
        of Intent with a target business; and/or (2) prior to the LOI Termination
        Date,
        the Company has entered into a Business Combination with a target business,
        the
        terms of which are consistent with the requirements set forth in the
        Registration Statement; and/or (3) prior to the Second Termination Date,
        the
        Company has entered into a Business Combination with a target business, the
        terms of which are consistent with the requirements set forth in the
        Registration Statement; and (4) the Board of Directors (the “Board”) pursuant to
        the unanimous written consent of the Board has approved (where applicable):
        (i)
        the Business Combination; and/or (ii) Letter of Intent. A copy of such consent
        shall be attached as an exhibit to the Officers’ Certificate. 

       

      3. 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 Section 1
        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 written
        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 Section 1(c)
        hereof;

       

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

      
      

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

       

      (f) the
        other
        parties hereto or to anyone else for any action taken or omitted by it, or
        any
        action suffered by it to be taken or omitted, in good faith and in the exercise
        of its own best judgment, except for its gross negligence or willful misconduct.
        The Trustee may rely conclusively and shall be protected in acting upon any
        order, notice, demand, certificate, opinion or advice of counsel (including
        counsel chosen by the Trustee), statement, instrument, report or other paper
        or
        document (not only as to its due execution and the validity and effectiveness
        of
        its provisions, but also as to the truth and acceptability of any information
        therein contained) which is believed by the Trustee, in good faith, to be
        genuine and to be signed or presented by the proper person or persons. The
        Trustee need not investigate any fact or matter stated in the document. 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, unless an officer
        of the Trustee has actual knowledge thereof, written notice of such event
        is
        sent to the Trustee or as otherwise required under Section 1(i) hereof;
        and

       

      (h) pay
        any
        taxes on behalf of the Trust Account (it being expressly understood that
        the
        Property shall not be used to pay any such taxes and that such taxes, if
        any,
        shall be paid by the Company from funds not held in the Trust
        Account).

       

      4. CERTAIN
        RIGHTS OF TRUSTEE.

       

      (a) Before
        the Trustee acts or refrains from acting, it may require an Officers’
Certificate or opinion of counsel or both. The Trustee shall not be liable
        for
        any action it takes or omits to take in good faith in reliance on such Officers’
Certificate or opinion of counsel. The Trustee may consult with counsel and
        the
        advice of such counsel or any opinion of counsel shall be full and complete
        authorization and protection from liability in respect of any action taken,
        suffered or omitted by it hereunder in good faith and in reliance
        thereon.

       

      (b) The
        Trustee may act through its attorneys and agents and shall not be responsible
        for the misconduct or negligence of any agent appointed with due
        care.

       

      (c) The
        Trustee shall not be liable for any action it takes or omits to take in good
        faith that it believes to be authorized or within the rights or powers conferred
        upon it by this Agreement.

       

      (d) The
        Trustee shall not be responsible for and makes no representation as to the
        validity or adequacy of this Agreement; it shall not be accountable for the
        Company’s use of the proceeds from the Trust Account. Notwithstanding the
        effective date of this Agreement or anything to the contrary contained in
        this
        Agreement, the Trustee shall have no liability or responsibility for any
        act or
        event relating to this Agreement or the transactions related thereto which
        occurs prior to the date of this Agreement, and shall have no contractual
        obligations to the Beneficiaries until the date of this Agreement.

       

      5. TERMINATION.
        This Agreement shall terminate as follows:

       

      (a) If
        the
        Trustee gives written notice to the Company that it desires to resign under
        this
        Agreement, the Company shall use its reasonable efforts to locate a successor
        trustee. At such time that the Company notifies the Trustee that a successor
        trustee has been appointed by the Company and has agreed to become subject
        to
        the terms of this Agreement, the Trustee shall transfer the management of
        the
        Trust Account to the successor trustee, including but not limited to the
        transfer of copies of the reports and statements relating to the Trust Account,
        whereupon this Agreement shall terminate; provided, however, that, in the
        event
        that the Company does not locate a successor trustee within ninety days of
        receipt of the resignation notice from the Trustee, the Trustee may submit
        an
        application to have the Property deposited with 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;

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      (b) At
        such
        time that the Trustee has completed the liquidation of the Trust Account
        in
        accordance with the provisions of Section 1(i) hereof, and distributed the
        Property in accordance with the provisions of the Termination Letter, this
        Agreement shall terminate except with respect to Section 2(b) hereof;
        or

       

      (c) On
        such
        date after ____________, 2008 when the Trustee deposits the Property with
        the
        United States District Court for the Southern District of New York in the
        event
        that, prior to such date, the Trustee has not received a Termination Letter
        from
        the Company pursuant to Sections 1(i) or (j) hereof.

       

      6. 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
        B.
        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, without giving effect to conflict of laws.
        It may
        be executed in several counterparts, each one of which shall constitute an
        original, and together shall constitute but one instrument.

       

      (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 only be changed, amended or modified by a writing signed by each
        of
        the parties hereto; provided, however, that no such change, amendment or
        modification may be made without the prior written consent of FBW. As to
        any
        claim, cross-claim or counterclaim in any way relating to this Agreement,
        each
        party waives the right to trial by jury.

       

      (d) The
        parties hereto consent to the jurisdiction and venue of any state or federal
        court located in the State 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:

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      

       

      if
        to the Trustee, to:

       

      American
        Stock Transfer&
        Trust Company

      59
        Maiden
        Lane, Plaza Level

      New
        York,
        NY 10038

      Attn:
        [___________] 

      Fax
        No:
[________]

      

      

      

      if
        to the Company, to:

       

      Crossfire
        Capital Corporation 

      950
        Third
        Avenue, Suite 2500

      New
        York,
        NY 10022

      Attn:
        Martin Oliner

      Fax
        No.:
[__________]

      

       

      in
        either
        case with a copy to:

       

      Ferris,
        Baker Watts, Incorporated

      7601
        Lewinsville Road, Suite 450 

      McLean,
        VA 22102

      Attn:
        Peter McGowan

      Fax
        No.:
        (410) 659-4632

       

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

       

      (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.

       

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK]

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

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

      
        	 	 	 
	 	
                AMERICAN
                  STOCK TRANSFER & TRUST

                COMPANY,
                  as Trustee

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:

                Title:

              
	 	 

      

      
      

      
        	 	 	 
	 	CROSSFIRE
                CAPITAL CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:
                  Martin
                  Oliner

                Title:
                  President

              
	 	 

      

       

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

       

      [LETTERHEAD
        OF COMPANY]

       

      [INSERT
        DATE]

       

      American
        Stock Transfer

      &
        Trust Company

      59
        Maiden
        Lane, Plaza Level

      New
        York,
        NY 10038

      Attn:
        

       

      RE:
        TRUST ACCOUNT NO. _____________ TERMINATION LETTER

       

      Gentlemen:

       

      Pursuant
        to Section 1(i) of the Investment Management Trust Agreement between Crossfire
        Capital Corporation (the "Company") and American Stock Transfer & Trust
        Company (the "Trustee"), dated as of ___________, 2006 (the "Trust Agreement"),
        this is to advise you that the Company has entered into an agreement ("Business
        Agreement") with __________________ ("Target Business") to consummate a business
        combination with Target Business (the "Business Combination") on or about
        ________ __, 200_. The Company shall notify you at least 48 hours in advance
        of
        the actual date of the consummation of the Business Combination (the
        "Consummation Date") and shall provide you with an Officers’ Certificate in
        accordance with Sections 1(i) and 2(e) of the Trust Agreement.

       

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

       

      On
        the
        Consummation Date (i) counsel for the Company shall deliver to you written
        notification that (a) the Business Combination has been consummated, and
        (b)
        the
        provisions of Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met,
        to
        the extent applicable; (ii) the Company shall deliver the oath and report
        of
        inspector of election certified by an independent inspector which may be
        the
        Trustee or as otherwise appointed by FBW (collectively, the “Report”); and (iii)
        the Company shall deliver to you written instructions with respect to the
        transfer of the funds held in the Trust Account ("Instruction Letter") along
        with satisfactory evidence of delivery of the stock certificates from Public
        Stockholders who elect to exercise their conversion rights through the
        Depository Trust Company, its Deposit Withdraw Agent Commission (DWAC) system
        or
        as otherwise presented to you (the “Stock Certificates”). You are hereby
        directed and authorized to transfer the funds held in the Trust Account
        immediately upon your receipt of the counsel's letter, the Report, evidence
        of
        delivery of the Stock Certificates, the Officers’ Certificate and the
        Instruction Letter (the “Deliverables”), in accordance with the terms of the
        Instruction Letter. Notwithstanding the foregoing, upon verification of receipt
        by you of the Deliverables, we hereby agree and acknowledge that the Property
        (as defined in the Trust Agreement) in the Trust Account shall be distributed
        as
        follows: (1) first, to FBW by wire transfer (or as otherwise directed by
        FBW) in
        immediately available funds, the aggregate amount of [$_______]
        (or
        $______ as applicable) plus any interest accrued thereon; and (2) thereafter,
        to
        any other Beneficiary (as defined in the Trust Agreement) 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 and FBW of the same and the Company and, if the
        amount set forth in clause (1) shall not have been paid in full, FBW shall
        issue
        joint written instructions directing you as to whether such funds should
        remain
        in the Trust Account and distributed after the Consummation Date to the Company
        and/or FBW. Upon the distribution of all the funds in the Trust Account pursuant
        to the terms hereof, the Trust Agreement shall be terminated.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

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

      
        	 	 	 
	 	Very truly yours,
	 	 
	 	CROSSFIRE
                CAPITAL CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:
                  Martin Oliner

                Title:
                   
                  President 

              
	 	 

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      
        	
                AUTHORIZED
                  INDIVIDUAL(S)

                FOR
                  TELEPHONE CALL BACK

                 

                COMPANY:

                 

                Crossfire
                  Capital Corporation

                950
                  Third Avenue, Suite 2500

                New
                  York, NY 10022

                Attn:
                  Martin Oliner

                 

                 

                FBW:

                 

                Ferris
                  Baker Watts, Incorporated

                100
                  Light Street

                Baltimore,
                  Maryland 

                Attn.:
                  Peter McGowan

                 

                TRUSTEE:

                 

                 

                American
                  Stock Transfer

                &
                  Trust Company:

                59
                  Maiden Lane, Plaza Level

                New
                  York, NY 10038

                Attn:
                  [_________________]

              	
                AUTHORIZED

                TELEPHONE
                  NUMBER(S)

                 

                 

                 

                 

                 

                (212)
                  758-4313

                 

                 

                 

                 

                 

                 

                 

                (410)
                  659-4630

                 

                 

                 

                 

                 

                 

                 

                [_________________]EXHIBIT
      10.3

    STOCK
      ESCROW AGREEMENT

     

    STOCK
      ESCROW AGREEMENT, dated as of ____________, 2006 (the "Agreement"), by and
      among
      CROSSFIRE CAPITAL CORPORATION, a Delaware corporation (the "Company"), The
      Martin Oliner 2000 Family Trust, Peter W. Mattingly, Ian R.D. Chapman,
      James L. Patton and Stephen L. Hubbard (collectively, the "Initial
      Stockholders") and AMERICAN STOCK TRANSFER & TRUST COMPANY, a New York
      corporation (the "Escrow Agent").

     

    WHEREAS,
      the
      Company has entered into an Underwriting Agreement, dated ____, 2006 (the
      "Underwriting Agreement"), with Ferris, Baker Watts, Incorporated ("FBW") acting
      as the sole underwriter (the "Underwriter"), pursuant to which, among other
      matters, the Underwriter has agreed to purchase 10,000,000 units (the "Units")
      of the Company. Each Unit consists of one share of the Company's Common Stock,
      par value $.0001 per share, and two Warrants, each Warrant to purchase one
      share
      of Common Stock, all as more fully described in the Company's final Prospectus,
      dated ________, 2006 (the "Prospectus") comprising part of the Company's
      Registration Statement on Form S-1 (File No. -________) under the Securities
      Act
      of 1933, as amended (the "Registration Statement"), declared effective on
      __________, 2006 (the "Effective Date");

     

    WHEREAS,
      the
      Initial Stockholders have agreed as a condition of the sale of the Units to
      deposit their shares of Common Stock of the Company, as set forth opposite
      their
      respective names in Exhibit
      A
      attached
      hereto (collectively, the "Escrow Shares"), in escrow as hereinafter provided;
      and

     

    WHEREAS,
      the
      Company and the Initial Stockholders desire that the Escrow Agent accept the
      Escrow Shares, in escrow, to be held and disbursed as hereinafter
      provided.

     

    NOW,
      THEREFORE, in
      consideration of the mutual covenants hereinafter set forth, the parties agree
      as follows:

     

    1. APPOINTMENT
      OF THE ESCROW AGENT. The Company and the Initial Stockholders hereby appoint
      the
      Escrow Agent to act in accordance with and subject to the terms of this
      Agreement and the Escrow Agent hereby accepts such appointment and agrees to
      act
      in accordance with and subject to such terms. Capitalized terms used in this
      Agreement but not defined herein will have the meanings set forth in the
      Registration Statement. 

     

    2. DEPOSIT
      OF ESCROW SHARES. On or before the Effective Date, each of the Initial
      Stockholders shall deliver to the Escrow Agent certificates representing his
      respective Escrow Shares, to be held and disbursed subject to the terms and
      conditions of this Agreement. Each Initial Stockholder acknowledges that the
      certificate representing his Escrow Shares is legended to reflect the deposit
      of
      such Escrow Shares under this Agreement.

     

    3. DISBURSEMENT
      OF THE ESCROW SHARES. 

     

    3.1 The
      Escrow Agent shall hold the Escrow Shares until the one hundred eightieth day
      following the consummation by the Company of a Business Combination (the "Escrow
      Period"), on which date it shall, upon written instructions from each Initial
      Stockholder, disburse each of the Initial Stockholder's Escrow Shares to such
      Initial Stockholder; provided, however, that if the Escrow Agent is notified
      by
      the Company pursuant to Section 3.3 hereof that the Company is being liquidated
      at any time during the Escrow Period, then the Escrow Agent shall promptly
      destroy the certificates representing the Escrow Shares; provided further,
      however, that if, after the Company consummates a Business Combination (as
      such
      term is defined in the Prospectus), it (or the surviving entity) subsequently
      consummates a liquidation, merger, stock exchange or other similar transaction
      which results in all of the stockholders of such entity having the right to
      exchange their shares of Common Stock for cash, securities or other property,
      then the Escrow Agent will, upon receipt of a certificate, executed by the
      Chief
      Executive Officer or Chief Financial Officer of the Company, in form reasonably
      acceptable to the Escrow Agent, that such transaction is then being consummated,
      release the Escrow Shares to the Initial Stockholders upon consummation of
      the
      transaction so that they can similarly participate. The Escrow Agent shall
      have
      no further duties hereunder after the disbursement or destruction of the Escrow
      Shares in accordance with this Section 3.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.2 CONSUMMATION
      OF A BUSINESS COMBINATION. Within thirty (30) days after the consummation by
      the
      Company of a Business Combination, the Company shall deliver to the Escrow
      Agent
      a certificate executed by the Chief Executive Officer or the Chief Financial
      Officer, in form reasonably acceptable to the Escrow Agent, stating that a
      Business Combination has been consummated, the date of the Business Combination
      shall have been consummated and the date that is one hundred eighty days after
      the date of consummation of a Business Combination.

     

    3.3 
      LIQUIDATION OF THE COMPANY. The Company shall give the Escrow Agent written
      notification of the liquidation and dissolution of the Company in the event
      that
      the Company fails to consummate a Business Combination within the time period(s)
      specified in the Prospectus.

     

    4. RIGHTS
      OF
      INITIAL STOCKHOLDERS IN ESCROW SHARES.

     

    4.1 VOTING
      RIGHTS AS A STOCKHOLDER. Subject to the terms of the Insider Letter described
      in
      Section 4.4 hereof and except as herein provided, the Initial Stockholders
      shall
      retain all of their rights as stockholders of the Company during the Escrow
      Period, including, without limitation, the right to vote such
      shares.

     

    4.2 DIVIDENDS
      AND OTHER DISTRIBUTIONS IN RESPECT OF THE ESCROW SHARES. During the Escrow
      Period, all dividends payable in cash with respect to the Escrow Shares shall
      be
      paid to the Initial Stockholders, but all dividends payable in stock or other
      non-cash property ("Non-Cash Dividends") shall be delivered to the Escrow Agent
      to hold in accordance with the terms hereof. As used herein, the term "Escrow
      Shares" shall be deemed to include the Non-Cash Dividends distributed thereon,
      if any.

     

    4.3 RESTRICTIONS
      ON TRANSFER. During the Escrow Period, no sale, transfer or other disposition
      may be made of any or all of the Escrow Shares except (i) by gift to a member
      of
      Initial Stockholder's immediate family or to a trust, the beneficiary of which
      is an Initial Stockholder or a member of an Initial Stockholder's immediate
      family, (ii) by virtue of the laws of descent and distribution upon death of
      any
      Initial Stockholder, or (iii) pursuant to a qualified domestic relations order;
      provided, however, that such permissive transfers may be implemented only upon
      the respective transferee's written agreement to be bound by the terms and
      conditions of this Agreement and of the Insider Letter signed by the Initial
      Stockholder transferring the Escrow Shares. During the Escrow Period, the
      Initial Stockholders shall not pledge or grant a security interest in the Escrow
      Shares or grant a security interest in their rights under this
      Agreement.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

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

     

    5. CONCERNING
      THE ESCROW AGENT.

     

    5.1 GOOD
      FAITH RELIANCE. The Escrow Agent shall not be liable for any action taken or
      omitted by it in good faith and in the exercise of its own best judgment, and
      may rely conclusively and shall be protected in acting upon any order, notice,
      demand, certificate, opinion or advice of counsel (including counsel chosen
      by
      the Escrow Agent), statement, instrument, report or other paper or document
      (not
      only as to its due execution and the validity and effectiveness of its
      provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Escrow Agent to be genuine and
      to be
      signed or presented by the proper person or persons. The Escrow Agent shall
      not
      be bound by any notice or demand, or any waiver, modification, termination
      or
      rescission of this Agreement unless evidenced by a writing delivered to the
      Escrow Agent signed by the proper party or parties and, if the duties or rights
      of the Escrow Agent are affected, unless it shall have given its prior written
      consent thereto.

     

    5.2 INDEMNIFICATION.
      The Escrow Agent shall be indemnified and held harmless by the Company from
      and
      against any expenses, including counsel fees and disbursements, or loss suffered
      by the Escrow Agent in connection with any action, suit or other proceeding
      involving any claim which in any way, directly or indirectly, arises out of
      or
      relates to this Agreement, the services of the Escrow Agent hereunder, or the
      Escrow Shares held by it hereunder, other than expenses or losses arising from
      the gross negligence or willful misconduct of the Escrow Agent. Promptly after
      the receipt by the Escrow Agent of notice of any demand or claim or the
      commencement of any action, suit or proceeding, the Escrow Agent shall notify
      the other parties hereto in writing. In the event of the receipt of such notice,
      the Escrow Agent, in its sole discretion, may commence an action in the nature
      of interpleader in an appropriate court to determine ownership or disposition
      of
      the Escrow Shares or it may deposit the Escrow Shares with the clerk of any
      appropriate court or it may retain the Escrow Shares pending receipt of a final,
      non-appealable order of a court having jurisdiction over all of the parties
      hereto directing to whom and under what circumstances the Escrow Shares are
      to
      be disbursed and delivered. The provisions of this Section 5.2 shall survive
      in
      the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5
      or
      5.6 below.

     

    5.3 COMPENSATION.
      The Escrow Agent shall be entitled to reasonable compensation from the Company
      for all services rendered by it hereunder. The Escrow Agent shall also be
      entitled to reimbursement from the Company for all expenses paid or incurred
      by
      it in the administration of its duties hereunder including, but not limited
      to,
      all counsel, advisors' and agents' fees and disbursements and all taxes or
      other
      governmental charges.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.4 FURTHER
      ASSURANCES. From time to time on and after the date hereof, the Company and
      the
      Initial Stockholders shall deliver or cause to be delivered to the Escrow Agent
      such further documents and instruments and shall do or cause to be done such
      further acts as the Escrow Agent shall reasonably request to carry out more
      effectively the provisions and purposes of this Agreement, to evidence
      compliance herewith or to assure itself that it is protected in acting
      hereunder.

     

    5.5 RESIGNATION.
      The Escrow Agent may resign at any time and be discharged from its duties as
      escrow agent hereunder by its giving the other parties hereto written notice
      and
      such resignation shall become effective as hereinafter provided. Such
      resignation shall become effective at such time that the Escrow Agent shall
      turn
      over to a successor escrow agent appointed by the Company, the Escrow Shares
      held hereunder. If no new escrow agent is so appointed within the 60-day period
      following the giving of such notice of resignation, the Escrow Agent may deposit
      the Escrow Shares with any court it reasonably deems appropriate.

     

    5.6 DISCHARGE
      OF ESCROW AGENT. The Escrow Agent shall resign and be discharged from its duties
      as escrow agent hereunder if so requested in writing at any time by the other
      parties hereto, jointly, provided, however, that such resignation shall become
      effective only upon acceptance of appointment by a successor escrow agent as
      provided in Section 5.5.

     

    5.7 LIABILITY.
      Notwithstanding anything herein to the contrary, the Escrow Agent shall not
      be
      relieved from liability hereunder for its own gross negligence or its own
      willful misconduct.

     

    6. MISCELLANEOUS.

     

    6.1 GOVERNING
      LAW. This Agreement shall for all purposes be deemed to be made under and shall
      be construed in accordance with the laws of the State of New York.

     

    6.2 THIRD
      PARTY BENEFICIARIES. Each of the Initial Stockholders hereby acknowledges that
      the Underwriters are third party beneficiaries of this Agreement and this
      Agreement may not be modified or changed without the prior written consent
      of
      FBW.

     

    6.3 ENTIRE
      AGREEMENT. This Agreement contains the entire agreement of the parties hereto
      with respect to the subject matter hereof and, except as expressly provided
      herein, may not be changed or modified except by an instrument in writing signed
      by the party to the charged.

     

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

     

    6.5 BINDING
      EFFECT. This Agreement shall be binding upon and inure to the benefit of the
      respective parties hereto and their legal representatives, successors and
      assigns.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    6.6 NOTICES.
      Any notice or other communication required or which may be given hereunder
      shall
      be in writing and either be delivered personally or be mailed, certified or
      registered mail, or by private national courier service, return receipt
      requested, postage prepaid, and shall be deemed given when so delivered
      personally or, if mailed, two days after the date of mailing, as
      follows:

     

    If
      to the Company, to:

     

    Crossfire
      Capital Corporation

    950
      Third
      Avenue, Suite 2500

    New
      York,
      NY 10022

    Attn:
      Martin Oliner

     

    If
      to a
      Stockholder, to his address set forth in Exhibit
      A.

     

    and
      if to the Escrow Agent, to:

     

    American
      Stock Transfer & Trust Company 

    59
      Maiden
      Lane, Plaza Level

    New
      York,
      NY 10038

    [Attn:
      _________________]

    

     

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

     

    Davies
      Ward Phillips & Vineberg LLP

    625
      Madison Avenue, 12 Floor 

    New
      York,
      NY 10022

    Attn:
      Guy
      P. Lander, Esq.

    

    Ferris,
      Baker Watts, Inc.

    7601
      Lewinsville Road, Suite 450

    McLean,
      VA 22102

    Attn:
      Peter
      McGowan

     

    and:

    

    Gersten
      Savage LLP

    101
      East
      52nd
      Street

    New
      York,
      NY 10022

    Attn:
      Jay
      M. Kaplowitz, Esq.

    

     

    The
      parties may change the persons and addresses to which the notices or other
      communications are to be sent by giving written notice to any such change in
      the
      manner provided herein for giving notice.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective
      as of the date first aforesaid.

    
      	 	 	 
	 	 	 
	 	CROSSFIRE
              CAPITAL CORPORATION
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:
                Martin Oliner

              Title:
                President

            
	 	 

    

     

    
      	 	 	 
	 	INITIAL
              STOCKHOLDERS:
	 	 
	 	The Martin Oliner 2000 Family
              Trust
	 
 	 
 	 
 
	 	By:  	 
              
	 	
              
Trustee
	 	 
	 	 
	 	 
              
	 	Peter W. Mattingly
	 	 
	 	 
              
	 	Ian R.D. Chapman
	 	 
	 	 
              
	 	James L. Patton
	 	 
	 	 
              
	 	Stephen L.
              Hubbard

    

     

    
      	 	 	 
	 	AMERICAN
              STOCK TRANSFER & TRUST COMPANY
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            
	 	 

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    

    
      	
              Name
                and Address of Initial Stockholder

            	 	
              Number

              of
                Shares

            	 	
              Stock

              Certificate
                Number

            	 	
              Date
                of

              Insider
                Letter

            	 
	 	 	 	 	 	 	 	 
	
              The
                Martin Oliner 2000 Family Trust

            	 	 	
              
              

              2,250,000

            	 	 	 	 	 	
              
              

              __,
                2006

            	 
	
              Peter
                W. Mattingly

            	 	 	
              62,500

            	 	 	 	 	 	
              __,
                2006

            	 
	
              Ian
                R. D. Chapman

            	 	 	
              62,500

            	 	 	 	 	 	
              __,
                2006

            	 
	
              James
                L. Patton

            	 	 	
              62,500

            	 	 	 	 	 	
              __,
                2006

            	 
	
              Stephen
                L. Hubbard

            	 	 	
              62,500

            	 	 	 	 	 	
              __,
                2006

            	 
	 	 	 	 	 	 	 	 	 	 	 

    

    
 

    
      
        
        

      

      
        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]