Document:

Exhibit 10.3

                            DEPOSIT ESCROW AGREEMENT

     This DEPOSIT ESCROW AGREEMENT ("Agreement") is dated January 24, 2007, by
and among COURTSIDE ACQUISITION CORP., a Delaware corporation ("Purchaser"),
AMERICAN COMMUNITY NEWSPAPERS LLC, a Delaware limited liability company
("Seller"), and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as escrow agent (the
"Deposit Escrow Agent").

     WHEREAS, Purchaser and Seller are the parties to an Asset Purchase
Agreement dated as of January 24, 2007 (the "Purchase Agreement"); and

     WHEREAS, pursuant to Section 1.8 of the Purchase Agreement, Purchaser and
Seller agreed to enter into this Agreement, pursuant to which Purchaser has
deposited, concurrently with the execution hereof, the sum of $700,000 (the
"Deposit Escrow Principal") in escrow with Deposit Escrow Agent.

     NOW THEREFORE, the parties agree as follows:

     1. Appointment of Deposit Escrow Agent. (a) Upon the terms and subject to
the conditions set forth in this Agreement, Purchaser and Seller hereby appoint
Deposit Escrow Agent as their agent and custodian to hold, invest and distribute
the Deposit Escrow Principal and interest and earnings thereon (the "Deposit
Escrow Interest," and with the Deposit Escrow Principal, collectively, the
"Deposit Escrow Funds") in accordance with this Agreement, and Deposit Escrow
Agent hereby accepts such appointment and agrees to perform all duties expressly
set forth in this Agreement. Notwithstanding anything to the contrary contained
herein, all Deposit Escrow Interest shall be held in escrow by Deposit Escrow
Agent in accordance with the terms of this Agreement and distributed as provided
for in Sections 3(a) through 3(f), below, as appropriate.

          (b) Deposit Escrow Agent agrees to accept delivery of, hold and
disburse the Deposit Escrow Funds in accordance with the terms and conditions of
this Agreement. Deposit Escrow Agent hereby acknowledges receipt thereof.

     2. Termination of Agreement. The Deposit Escrow Funds shall continue in
existence during the period from the date hereof to the earliest to occur of (a)
the disbursement or release of the entire amounts of the Deposit Escrow Funds by
Deposit Escrow Agent in accordance with the terms hereof and (b) payment of the
entire amount of the Deposit Escrow Funds into a court of competent jurisdiction
in accordance with Sections 5(f) or (g).

     3. Payment of Deposit Escrow Principal.

          (a) Payment upon Closing. In connection the closing of the
transactions contemplated by the Purchase Agreement, Purchaser shall instruct
Deposit Escrow Agent in writing (i) to pay the Deposit Escrow Principal to the
account designated by Seller pursuant to the Purchase Agreement (which account
shall be

specified in the instruction from Purchaser to Deposit Escrow Agent) and (ii) to
pay the Deposit Escrow Interest to the account of Purchaser (or its designee)
specified in the instruction. Such payments shall be made by wire transfers of
immediately available funds.

          (b) Termination Payment to Purchaser. Upon the occurrence of an event
specified in Section 8.3(a) of the Purchase Agreement requiring the payment to
Purchaser of all or part of the Deposit Escrow Principal, Purchaser may instruct
Deposit Escrow Agent to make payment to it of the amount of the Deposit Escrow
Principal to be paid to it by means of an Instruction Notice, substantially in
the form attached hereto as Exhibit A, delivered to Deposit Escrow Agent (with a
copy to Seller). Such Instruction Notice shall specify (i) the sub-paragraph of
Section 8.3(a) of the Purchase Agreement under which it claims it is entitled to
receive such payment and (ii) if less than all of the Deposit Escrow Principal
is to be paid to Purchaser, the amount to be so paid. Purchaser also shall
deliver to Deposit Escrow Agent (with a copy to Seller), concurrently with its
delivery to Deposit Escrow Agent of the Instruction Notice, a certification as
to the date on which the Instruction Notice was delivered to Seller. Unless a
Dispute Notice is issued by Seller in accordance with Section 3(d), Deposit
Escrow Agent shall pay to Purchaser, upon the expiration of the 30-day period
referred to in Section 3(d), and Purchaser's written request, the amount of
Deposit Escrow Principal specified in the Instruction Notice together with
Deposit Escrow Interest attributable to such amount (as specified in the
Instruction Notice).

          (c) Termination Payment to Seller. Upon the occurrence of an event
specified in Section 8.3(b) of the Purchase Agreement requiring the payment to
Seller of all or part of the Deposit Escrow Principal, Seller may instruct
Deposit Escrow Agent to make payment to it of the amount of the Deposit Escrow
Principal to be paid to it by means of an Instruction Notice delivered to
Deposit Escrow Agent (with a copy to Purchaser). Such Instruction Notice shall
specify (i) the sub-paragraph of Section 8.3(b) of the Purchase Agreement under
which it claims it is entitled to receive such payment and (ii) if less than all
of the Deposit Escrow Principal is to be paid to Seller, the amount to be so
paid. Seller also shall deliver to Deposit Escrow Agent (with a copy to
Purchaser), concurrently with its delivery to Deposit Escrow Agent of the
Instruction Notice, a certification as to the date on which the Instruction
Notice was delivered to Purchaser. Unless a Dispute Notice is issued by
Purchaser in accordance with Section 3(d), Deposit Escrow Agent shall pay to
Seller, upon the expiration of the 30-day period referred to in Section 3(d),
and Seller's written request, the amount of Deposit Escrow Principal specified
in the Instruction Notice together with Deposit Escrow Interest attributable to
such amount (as specified in the Instruction Notice).

          (d) Dispute. If, upon delivery by either Purchaser or Seller of an
Instruction Notice, the other party disputes the amount of the Deposit Escrow
Principal that is to be delivered to the delivering party, it shall give a
notice to Deposit Escrow Agent (with a copy to the other party), substantially
in the form attached hereto as Exhibit B (a "Dispute Notice"), within 30 days
following the date of delivery of the Instruction Notice (as specified in
certification delivered by the other party pursuant to Section 3(a) or Section
3(b), above) specifying the amount of the Deposit Escrow Principal that it

                                        2

claims the delivering party is entitled to receive. Upon issuance of a Dispute
Notice, Purchaser and Seller shall attempt to resolve such dispute. If such
dispute is not resolved within 30 days after the Dispute Notice has been
delivered, either Seller or Purchaser may initiate an arbitration proceeding to
resolve such dispute in accordance with Section 3(e).

          (e) Arbitration Award. Any dispute between Purchaser and Seller as to
whether or not a party is entitled to payment of Deposit Escrow Funds hereunder,
or the amount thereof, shall be resolved by arbitration in accordance with the
provisions of Section 10.12 of the Purchase Agreement. If the arbitrators in any
such proceeding make a monetary award of Deposit Escrow Funds to either
Purchaser or Seller then the party so awarded shall deliver to Deposit Escrow
Agent a written certificate in substantially the form of Exhibit C attached
hereto, instructing Deposit Escrow Agent to deliver to Purchaser or Seller, as
applicable, Deposit Escrow Principal in the amount of such award. Such
certificate shall state the amount of the Deposit Escrow Principal that Deposit
Escrow Agent shall deliver and be accompanied by a true, correct and complete
copy of the award. Deposit Escrow Agent shall deliver the stated amount of
Deposit Escrow Principal (together with the portion of Deposit Escrow Interest
attributable to such amount, as specified in the certificate) to Purchaser or
Seller, as applicable, on the tenth (10th) business day after it receives such
certificate.

          (f) Resolution by Mutual Agreement. If Purchaser and Seller mutually
agree that a payment should be made from the Deposit Escrow Funds, then
Purchaser and Seller shall deliver to Deposit Escrow Agent a written certificate
in substantially the form of Exhibit D attached hereto, instructing Deposit
Escrow Agent to deliver to the specified party or parties, the amount of Deposit
Escrow Funds as mutually agreed upon by Purchaser and Seller. Such certificate
shall state the amount of Deposit Escrow Funds that Deposit Escrow Agent shall
deliver to each specified party and the date upon which such delivery shall be
made. Deposit Escrow Agent shall deliver the stated amount of Deposit Escrow
Funds to the specified party or parties, in accordance with such certificate.

     4. Cooperation. Deposit Escrow Agent, Purchaser and Seller shall cooperate
in all respects with one another in the calculation of any amounts determined to
be payable to Purchaser and Seller in accordance with this Agreement and in
implementing the procedures necessary to effect such payments.

     5. Duties; Liabilities.

          (a) Deposit Escrow Agent hereby accepts its obligations under this
Agreement, and represents that it has the legal power and authority to enter
into this Agreement and to perform its obligations hereunder. Deposit Escrow
Agent agrees that all Deposit Escrow Funds held by Deposit Escrow Agent under
this Agreement shall be segregated from all other property held by Deposit
Escrow Agent, shall be designated under the account name "Courtside Deposit
Escrow Account" and otherwise be identified as being held in connection with
this Agreement. Segregation may be accomplished by appropriate identification on
the books and records of Deposit Escrow Agent. Deposit

                                        3

Escrow Agent agrees that its documents and records with respect to the
transactions contemplated by this Agreement shall be available for examination
by authorized representatives of Purchaser and Seller. Deposit Escrow Agent
agrees to deliver to Purchaser and Seller written statements not less than
quarterly summarizing any activity with respect to the Deposit Escrow Funds
(including all Deposit Escrow Interest) and detailing the balance thereof.
Deposit Escrow Agent undertakes to perform only such duties as are expressly set
forth herein. It is understood that Deposit Escrow Agent is not a trustee or
fiduciary and is acting hereunder merely in a ministerial capacity.

          (b) Deposit Escrow Agent shall invest and reinvest the Deposit Escrow
Funds in a JPMorgan Chase Money Market Checking Account, or in such other
investments as Purchaser and Seller may from time to time mutually agree upon in
writing executed by Purchaser and Seller and delivered to Deposit Escrow Agent.
All investments of the Deposit Escrow Funds shall be held by, or registered in
the name of, Deposit Escrow Agent or its nominee.

          (c) Deposit 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
Deposit 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 Deposit Escrow Agent to be genuine and
to be signed or presented by the proper person or persons. Deposit 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 Deposit Escrow Agent signed by the proper party or parties and, if
the duties or rights of Deposit Escrow Agent are affected, unless it shall have
given its prior written consent thereto.

          (d) Deposit Escrow Agent's sole responsibility upon receipt of any
notice requiring any payment pursuant to the terms of this Agreement, whether by
virtue of joint resolution, arbitration or determination of a court of competent
jurisdiction, is to pay the amounts specified in such notice, and Deposit Escrow
Agent shall have no duty to determine the validity, authenticity or
enforceability of any specification or certification made in such notice. In the
event fund transfer instructions are given (other than in writing at the time of
the execution of this Agreement), whether in writing, by telecopier or
otherwise, Deposit Escrow Agent is authorized to seek confirmation of such
instructions by telephone call-back to the person or persons designated on
Schedule 1 attached hereto, and Deposit Escrow Agent may rely upon the
confirmations of anyone purporting to be the person or persons so designated.
The persons and telephone numbers for call-backs may be changed only in writing
actually received and acknowledged by Deposit Escrow Agent.

          (e) Deposit Escrow Agent may consult with counsel of its own choice
and shall have full and complete authorization and indemnification under Section
5(h), below, for any action taken or suffered by it hereunder in good faith and
in accordance with the opinion of such counsel.

                                        4

          (f) Deposit 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 Deposit
Escrow Agent shall turn over the Escrow Fund to a successor escrow agent
appointed jointly by Purchaser and Seller. If no new escrow agent is so
appointed within the 60 day period following the giving of such notice of
resignation, Deposit Escrow Agent may deposit the Escrow Fund with any court in
the Southern District of New York it deems reasonably appropriate.

          (g) In the event of a dispute between the parties as to the proper
disposition of the Escrow Fund, Deposit Escrow Agent shall be entitled (but not
required) to deliver the Escrow Fund into the United States District Court for
the Southern District of New York and, upon giving notice to Purchaser and
Seller of such action, shall thereupon be relieved of all further responsibility
and liability; provided, however, that any such action of interpleader shall not
be deemed to modify the manner in which Deposit Escrow Agent is entitled to make
disbursements of the Deposit Escrow Funds as set forth in this Agreement other
than to tender the Deposit Escrow Funds into the registry of such court.

          (h) Deposit Escrow Agent shall be indemnified and held harmless by
Purchaser from and against any expenses, including counsel fees and
disbursements, or loss suffered by Deposit 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
Deposit Escrow Agent hereunder, or the Escrow Fund held by it hereunder, other
than expenses or losses arising from the gross negligence or willful misconduct
of Deposit Escrow Agent. Promptly after the receipt by Deposit Escrow Agent of
notice of any demand or claim or the commencement of any action, suit or
proceeding, Deposit Escrow Agent shall notify the other parties hereto in
writing. In the event of the receipt of such notice, Deposit 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 Fund or it
may deposit the Escrow Fund with the clerk of any appropriate court and be
relieved of any liability with respect thereto or it may retain the Escrow Fund
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 Fund are to be disbursed and delivered.

          (h) Deposit Escrow Agent shall be entitled to reasonable compensation
from Purchaser for all services rendered by it hereunder. Deposit Escrow Agent
shall also be entitled to reimbursement from Purchaser 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.

          (i) From time to time on and after the date hereof, Purchaser and
Seller shall deliver or cause to be delivered to Deposit Escrow Agent such
further documents and instruments and shall do or cause to be done such further
acts as Deposit Escrow Agent shall reasonably request to carry out more
effectively the provisions and

                                        5

purposes of this Agreement, to evidence compliance herewith or to assure itself
that it is protected in acting hereunder.

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

     6. No Implied Duties. This Agreement expressly sets forth all the duties of
Deposit Escrow Agent with respect to any and all matters pertinent hereto. No
implied duties or obligations shall be read into this Agreement against Deposit
Escrow Agent. Deposit Escrow Agent shall not be bound by the provisions of any
agreement among the parties hereto except this Agreement and shall have no duty
to inquire into the terms and conditions of any agreement made or entered into
in connection with this Agreement, including, without limitation, the Purchase
Agreement.

     7. Successors; Amendments. This Agreement shall inure to the benefit of and
be binding upon the parties and their respective heirs, successors, assigns and
legal representatives and shall be governed by and construed in accordance with
the law of New York applicable to contracts made and to be performed therein.
This Agreement cannot be changed or terminated except by a writing signed by
Purchaser, Seller and Deposit Escrow Agent.

     8. Notices. All notices and other communications under this Agreement shall
be in writing and shall be deemed given if given by hand or delivered by
nationally recognized overnight carrier, or if given by telecopier and confirmed
by mail (registered or certified mail, postage prepaid, return receipt
requested), to the respective parties as follows:

               A.   If to Purchaser, to it at:

                    Courtside Acquisition Corp.
                    1700 Broadway, 17th Floor
                    New York, New York 10019
                    Telecopier No.: 212-651-5050
                    Attention: Richard D. Goldstein

                    with a copy to:

                    Graubard Miller
                    The Chrysler Building
                    405 Lexington Avenue
                    New York, New York 10174-1901
                    Attention: David Alan Miller, Esq.
                    Telecopier No.: 212-818-8881

                                        6

               B.   If to Seller, to it at:

                    American Community Newspapers LLC
                    c/o Spire Capital Partners LLC
                    30 Rockefeller Plaza, Suite 4200
                    New York, New York 10112
                    Attention:
                    Telecopier No.:

                    with a copy to:

                    Sonnenschein Nath & Rosenthal LLP
                    1221 Avenue of the Americas
                    New York, NY 10020
                    Attention: Paul A. Gajer, Esq.
                    Telephone No.: 212 398-5293
                    Telecopier No.: 212 768-6800

               C.   If to Deposit Escrow Agent, to it at:

                    Continental Stock Transfer & Trust Company
                    2 Broadway
                    New York, New York 10004
                    Attention: Steven G. Nelson
                    Telecopier No.: 212-509-5150

or to such other person or address as any of the parties hereto shall specify by
notice in writing to all the other parties hereto.

     9. Miscellaneous.

          (a) None of the parties may assign this Agreement or its rights or
obligations hereunder, in whole or in part, voluntarily or by operation of law,
without the written consent of the other parties, and any attempted assignment
without such consent shall be void and without legal effect.

          (b) There are no third-party beneficiaries of this Agreement. Nothing
contained in this Agreement shall be deemed to confer upon any other person or
entity other than the parties hereto any right or remedy under or by reason of
this Agreement.

          (c) No waiver by any party of any of the provisions hereof shall be
effective unless expressly set forth in writing and executed by the party so
waiving. The waiver by any party of a breach of any provision of this Agreement
shall not operate or be construed as a waiver of any subsequent breach.

          (d) This Agreement (including the exhibits and schedules attached
hereto), together with the Purchase Agreement, supersedes all prior agreements
among the parties with respect to its subject matter and constitutes a complete
and exclusive statement of the terms of the agreement among the parties with
respect to its subject

                                        7

matter. There have been and are no agreements, representations or warranties
among the parties other than those set forth or provided for in this Agreement,
the Purchase Agreement and the other agreements and documents contemplated
thereby. This Agreement is not intended to modify, and shall not be construed as
modifying the Purchase Agreement.

          (e) If any provision of this Agreement or the application thereof to
any person or circumstance shall be determined by a court of competent
jurisdiction to be invalid or unenforceable, the remaining provisions hereof, or
the application thereof to persons or circumstances other than those to which it
is held invalid or unenforceable, shall not be affected thereby and shall be
valid and enforceable to the fullest extent permitted by applicable law.

          (f) The headings of the sections and subsections of this Agreement are
for ease of reference only and do not evidence the intentions of the parties.

          (g) This Agreement may be executed by facsimile signature pages and in
one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

          (h) Capitalized terms used herein that are not otherwise defined
herein shall have the meanings ascribed to them in the Purchase Agreement.

                    [Signatures Continued on Following Page]

                                        8

     IN WITNESS WHEREOF, each of the parties hereto has duly executed this
Agreement on the date first above written.

                                        COURTSIDE ACQUISITION CORP.

                                        By: /s/ Richard D. Goldstein
                                            ------------------------------------
                                        Name: Richard D. Goldstein
                                        Title: Chairman and Chief Executive
                                               Officer

                                        AMERICAN COMMUNITY NEWSPAPERS LLC

                                        By: /s/ Gene Carr
                                            ------------------------------------
                                        Name: Gene Carr
                                        Title: Chief Executive Officer

                                        ESCROW AGENT

                                        CONTINENTAL STOCK TRANSFER &
                                           TRUST COMPANY

                                        By: /s/ Steven G. Nelson
                                            ------------------------------------
                                        Name: Steven G. Nelson
                                        Title: Chairman

                                        9

                                   SCHEDULE 1

                             AUTHORIZED SIGNATORIES

For Purchaser, the following persons, with the titles and specimen signatures
shown below:

Name                          Title           Specimen Signature   Telephone Number
--------------------   --------------------   ------------------   ----------------

Richard D. Goldstein   Authorized Signatory   __________________

                       Authorized Signatory   __________________

For Seller, the following persons, with the titles and specimen signatures shown
below:

Name                          Title           Specimen Signature   Telephone Number
--------------------   --------------------   ------------------   ----------------

                       Authorized Signatory   __________________

                       Authorized Signatory   __________________

                                       10

                                    EXHIBIT A

                               INSTRUCTION NOTICE

TO: ___________

     This Instruction Notice is issued pursuant to that certain Deposit Escrow
Agreement, dated as of __________ __, 2007, Courtside Acquisition Corp., a
Delaware corporation ("Purchaser"), American Community Newspapers LLC, a
Delaware limited liability company ("Seller"), and you, as Deposit Escrow Agent.
Capitalized terms used but not otherwise defined in this Instruction Notice
shall have the meanings ascribed to them in the Deposit Escrow Agreement.

     The undersigned hereby certifies that, pursuant to Section ___ [specify
either Section 8.3(a) or 8.3(b) and applicable paragraph thereof] of the
Purchase Agreement, it has a good faith belief that it is entitled to receive
Deposit Escrow Principal in the amount of $_______________ under the Deposit
Escrow Agreement.

     Accordingly, you are hereby instructed to distribute, on the thirtieth
(30th) day after your receipt of this Instruction Notice, the sum of
$_______________ from the Deposit Escrow Principal and $ _________ from the
Deposit Escrow Interest to the undersigned by wire transfer to the following
account:

                    Bank: _______________________________

                    Account: ____________________________

                    Routing Number: _____________________

     A copy of this Instruction Notice has been given to [Seller/Purchaser] in
accordance with the applicable provisions of the Deposit Escrow Agreement.

Dated: _____________, 200_.

                                        PURCHASER:

                                        COURTSIDE ACQUISITION CORP.

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                        -or-

                                        SELLER

                                        AMERICAN COMMUNITY NEWSPAPERS LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                       11

                                    EXHIBIT B

                                 DISPUTE NOTICE

TO: ___________

     This Dispute Notice is issued pursuant to that certain Deposit Escrow
Agreement, dated as of __________ __, 2007, among Courtside Acquisition Corp., a
Delaware corporation ("Purchaser"), American Community Newspapers LLC, a
Delaware limited liability company ("Seller"), and you, as Deposit Escrow Agent.
Capitalized terms used but not otherwise defined in this Dispute Notice shall
have the meanings ascribed to them in the Deposit Escrow Agreement.

     The undersigned hereby object to the claim for Deposit Escrow Principal
that [Seller/Purchaser] asserted in the amount of $__________ and/or the Claim
for Deposit Escrow Interest so asserted in the amount of $________ under that
certain Instruction Notice, dated ________ __, 200_, delivered by
[Purchaser/Seller] to you.

     [Seller/Purchaser] disputes such claim in [whole][part]. The material facts
and circumstances of such dispute are summarized on Schedule I attached hereto.
Accordingly, you are hereby instructed [to deliver $_______________ of such
amount to [Purchaser/Seller], together with accrued Deposit Escrow Interest
thereon and not to deliver $__________ of Deposit Escrow Principal or any
Deposit Escrow Interest accrued thereon to any person].

     A copy of this Dispute Notice has been given to [Purchaser/Seller] in
accordance with the applicable provisions of the Deposit Escrow Agreement.

Dated: _____________, 200_.

                                        SELLER:

                                        AMERICAN COMMUNITY NEWSPAPERS LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                        -or-

                                        PURCHASER

                                        COURTSIDE ACQUISITION CORP.

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title:

                                       12

                                    EXHIBIT C

                                ARBITRATION AWARD

                                   CERTIFICATE

TO: ___________

     This Certificate is issued pursuant to that certain Deposit Escrow
Agreement, dated as of __________ __, 2007, among Courtside Acquisition Corp., a
Delaware corporation ("Purchaser"), American Community Newspapers LLC, a
Delaware limited liability company ("Seller"), and you, as Deposit Escrow Agent.
Capitalized terms used but not otherwise defined in this Certificate shall have
the meanings ascribed to them in the Deposit Escrow Agreement.

     The undersigned [Purchaser/Seller, as applicable] hereby certifies that (a)
it has received an arbitration award ("Award") in its favor pursuant to the
Deposit Escrow Agreement; (b) a true, correct and complete copy of the Award
accompanies this Certificate; and (c) pursuant to the Award, it is entitled to
receive Deposit Escrow Principal in the amount of $_______ and Deposit Escrow
Interest in the amount of $_______ under the Deposit Escrow Agreement.

     Accordingly, you are hereby instructed to distribute [immediately] [on
________ __, 200__] $__________ of Deposit Escrow Principal and $________
Deposit Escrow Interest to the undersigned [Purchaser/Seller, as applicable] by
wire transfer of immediately available funds to the following account:

                    Bank: _______________________________

                    Account: ____________________________

                    Routing Number: _____________________

     A copy of this Certificate has been given to the other parties to the
Escrow Agreement in accordance with the applicable provisions of the Deposit
Escrow Agreement.

Dated: _______________, 200_.

                                        PURCHASER:

                                        COURTSIDE ACQUISITION CORP.

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                        -or-

                                        SELLER:

                                        AMERICAN COMMUNITY NEWSPAPERS LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                       13

                                    EXHIBIT D

              MUTUALLY AGREED DISTRIBUTION OF DEPOSIT ESCROW FUNDS

                                   CERTIFICATE

TO: ___________

     This Certificate is issued pursuant to that certain Deposit Escrow
Agreement, dated as of __________ __, 2007, among Courtside Acquisition Corp., a
Delaware corporation ("Purchaser"), American Community Newspapers LLC, a
Delaware limited liability company ("Seller"), and you, as Deposit Escrow Agent.
Capitalized terms used but not otherwise defined in this Certificate shall have
the meanings ascribed to them in the Deposit Escrow Agreement.

     Purchaser and Seller have agreed that $_______ of the Deposit Escrow Funds
are to be delivered to [Purchaser/Seller, as applicable].

     Accordingly, you are hereby instructed to distribute [immediately] [on
_______ __, 200__] $___________ from the Deposit Escrow Funds to
[Purchaser/Seller, as applicable] by wire transfer of immediately available
funds to the following account:

                    Bank: _______________________________

                    Account: ____________________________

                    Routing Number: _____________________

Dated: _______________, 200_.

                                        PURCHASER:

                                        COURTSIDE ACQUISITION CORP.

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                        SELLER:

                                        AMERICAN COMMUNITY NEWSPAPERS LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title: Authorized Signatory

                                       14Exhibit 10.4

                              EMPLOYMENT AGREEMENT

     EMPLOYMENT AGREEMENT (this "AGREEMENT"), dated as of January 24, 2007,
between Courtside Acquisition Corp., a Delaware corporation (the "COMPANY") and
Eugene Carr ("EXECUTIVE").

     WHEREAS, Executive is currently employed as Chief Executive Officer of
American Community Newspapers LLC ("LLC") and ACN Holding LLC, the sole member
of LLC ("Holding"), pursuant to an employment agreement dated as of December 9,
2004 (the "ORIGINAL AGREEMENT");

     WHEREAS, the Company has entered into an Asset Purchase Agreement (the
"PURCHASE AGREEMENT") dated as of January 24, 2007, by and among the Company,
American Community Newspapers, LLC ("ACN") and Holding pursuant to which the
Company will purchase certain of the assets, and assume certain of the
liabilities, of ACN (the "ACQUISITION");

     WHEREAS, the Company desires to enter into a new employment agreement with
Executive to take effect upon consummation of the Acquisition (the "COMMENCEMENT
DATE"); and

     WHEREAS, Executive is willing to enter into such employment agreement on
the terms, conditions and provisions hereinafter set forth.

     NOW, THEREFORE, in consideration of the mutual promises, terms, covenants
and conditions set forth herein and the performance of each, the parties hereby
agree as follows:

     1. Employment and Duties.

          (a) During the Term (as defined in Section 4), the Company shall
employ Executive in the position of Chairman of the Board and Chief Executive
Officer of the Company and Operating Sub (as defined below) and such other
positions as shall be given to Executive by the Board of Directors of the
Company or Operating Sub (defined below) (as applicable, the "BOARD"). In
addition, Executive agrees to serve as Chairman of the Board and Chief Executive
Officer of the Company's to-be-formed operating subsidiary which will hold the
assets of ACN upon consummation of the Acquisition (referred to herein as
"Operating Sub"). Executive shall have such responsibilities, duties and
authorities reasonably accorded to and expected of such positions, as well as
those that may be established by the Board, which responsibilities, duties and
authorities will be generally consistent with those of a chairman of the board
and chief executive officer or president. Executive hereby accepts this
employment upon the terms and conditions contained herein and agrees to devote
his full business time, attention and efforts to promote and further the
business of the Company and Operating Sub, and Executive shall not, during the
Term, be engaged in any other business activity pursued for gain, profit or
other pecuniary advantage without the prior written consent of the Board.
However, the foregoing limitations shall not be construed as prohibiting
Executive from making personal passive investments in such form or manner as
will neither require his services

in the operation or affairs of the companies or enterprises in which such
investments are made, nor violate the terms of Section 3 hereof. Notwithstanding
the foregoing, Executive shall also be able to devote occasional business time
to charitable and community activities, so long as such activities do not
interfere with the discharge of his duties and responsibilities to the Company
and Operating Sub.

          (b) Executive faithfully shall adhere to, execute and fulfill all
policies established by the Board.

          (c) Executive shall be located at the Company's Addison, Texas office,
or such other location in the greater Dallas/Ft. Worth, Texas metropolitan area
or as the Executive and the Board may mutually determine, from which Executive
shall execute his responsibilities hereunder. Executive understands and agrees
that he shall be required to travel for business reasons to and from the
principal offices of, and on behalf of the Company and Operating Sub, and
Executive agrees that none of such travel requirements shall constitute Good
Reason (as defined below).

          (d) So long as Executive's employment hereunder shall be continuing,
and provided that Executive shall not be in material breach of any of his
obligations hereunder, Executive shall be entitled to one seat on the Board of
the Company and the Board of Operating Sub, if any.

     2. Compensation. For all services rendered by Executive in any capacity
required hereunder, the Company shall compensate Executive as follows:

          (a) Base Salary. During the Term, Executive shall be paid a base
salary at the rate of $295,000 per year (the "BASE SALARY"), payable on a
regular basis in accordance with the Company's standard payroll procedures, but
not less frequently than monthly. The Base Salary shall be subject to annual
increases, commencing at the beginning of each calendar year, at the discretion
of the Board.

          (b) Incentive Bonus Plan. Commencing for the calendar year in which
the consummation of the Acquisition occurs and thereafter during the Term,
Executive shall be eligible to receive a fiscal year-end performance cash bonus
equal to up to fifty percent (50%) of the Base Salary (the "BONUS"). The amount
of such bonus, if any, shall be determined after the audited financial
statements of the Company are prepared and shall be based upon the Company's and
the Executive's level of achievement of preestablished performance goals which
shall be determined by the Board, in its sole discretion, and such other factors
as may be determined by the Board, in its sole discretion.

          (c) Benefits and Other Compensation. Executive shall be entitled to
receive additional benefits and compensation from the Company as follows:

               (i) Payment of such premiums for coverage for Executive under
health, hospitalization, disability, dental, life and other insurance plans that
the Company may have in effect from time to time, on the same terms generally
provided to other executive employees from time to time, together with enhanced
long term disability

and term life insurance on substantially the same terms as in effect under the
plans covering Executive and maintained by ACN on the date hereof (so long as
such terms are available without unreasonable increase in cost).

               (ii) Reimbursement for all business travel and other
out-of-pocket expenses reasonably incurred by Executive in the performance of
his services pursuant to this Agreement. All reimbursable expenses shall be
appropriately documented in reasonable detail by Executive upon submission of
any request for reimbursement, and in a format and manner consistent with the
Company's expense reporting policy.

               (iii) The Company shall provide Executive with other executive
perquisites as maybe available to, or deemed appropriate for, Executive by the
Board and shall allow Executive to participate in all other company-wide
employee benefits, including a defined contribution pension plan and 401 (k)
plan, as may be made available generally to executive employees from time to
time.

               (iv) Executive shall be entitled to five (5) weeks of paid
vacation per calendar year (pro rated for partial calendar years worked), such
vacation to be taken at such times and intervals as shall be determined by
Executive. Vacation shall not be cumulative. In addition, Executive shall be
entitled to sick pay and personal days (e.g., bereavement, jury duty, etc.), if
any, as may be made generally available to Company employees from time to time.

               (v) During the Term, Executive shall receive a car allowance of
$1,000 per month.

          (d) No Other Compensation or Benefits; Payment. The compensation and
benefits specified in this Section 2 shall be in lieu of any and all other
compensation and benefits. Payment of all compensation and benefits to Executive
hereunder shall be made in accordance with Company policies in effect from time
to time, including normal payroll practices, and shall be subject to all
applicable employment and withholding taxes.

          (e) Equity Plan. Prior to the Commencement Date at the special meeting
of its stockholders called to approve the Acquisition, the Company will request
approval of an Incentive Equity Plan (the "Equity Plan") providing for an
aggregate of 1,650,000 shares of the Company's common stock to be reserved for
issuance thereunder. The Executive will be eligible to participate in the Equity
Plan and will receive an initial grant, effective upon the Commencement Date,
comprised of 544,500 non-qualified stock options (the "OPTIONS"), all vesting in
eight (8) equal installments on each of December 31, 2007, June 30, 2008,
December 31, 2008, June 30, 2009, December 31, 2009, June 30, 2010, December 31,
2010 and on the fourth (4th) anniversary of the Commencement Date, and otherwise
subject to the terms of the Equity Plan. The non-qualified stock options will
have an exercise price equal to the fair market value of the Company's common
stock on the Commencement Date.

          (f) Cessation of Employment. In the event Executive shall cease to be
employed by the Company for any reason, then Executive's compensation and
benefits

shall cease on the date of such event, except as otherwise provided herein or in
any applicable employee benefit plan or program.

     3. Non-Competition.

          (a) Executive shall not during the period of his employment by or with
the Company and for the Applicable Period (defined below), for himself or on
behalf of, or in conjunction with, any other person, persons, company,
partnership, limited liability company, corporation or business of whatever
nature:

               (i) engage, as an officer, director, manager, member,
shareholder, owner, partner, joint venturer, trustee, or in a managerial
capacity, whether as an employee, independent contractor, agent, consultant or
advisor, or as a sales representative, in any newspaper publishing business that
is located within 75 miles of any market in the United States and any other
country in which the Company operates, that the Company either does business in,
or has plans to do business in, at the time of termination;

               (ii) call upon any person who is at that time, or within the
preceding twelve (12) months has been, an employee of the Company, for the
purpose, or with the intent, of enticing such employee away from, or out of, the
employ of the Company or for the purpose of hiring such person for Executive or
any other person or entity, unless any such person was terminated by the Company
more than six (6) months prior thereto;

               (iii) call upon any person who, or entity that is then or that
has been within one year prior to that time, a customer of the Company, for the
purpose of soliciting or selling products or services in competition with the
Company; or

               (iv) call upon any prospective acquisition or investment
candidate, on the Executive's own behalf or on behalf of any other person or
entity, which candidate was known by Executive to have, within the previous
twelve (12) months, been called upon by the Company or for which the Company
made an acquisition or investment analysis or contemplated a joint marketing or
joint venture arrangement with, for the purpose of acquiring or investing or
enticing such entity into a joint marketing or joint venture arrangement.

For purposes of this Section 3:

          o    the term "COMPANY" shall be deemed to include Operating Sub; and

          o    the term "APPLICABLE PERIOD" shall mean (A) the one (1) year
               period following termination of Executive's employment with the
               Company under Section 4(b) or Section 4(c)(i), or (B) in the case
               of a termination of Executive's employment by the Company under
               Section 4(c)(ii) or by Executive under Section 4(d), a period of
               time equal to the Severance Period (defined in Section 4(f)
               below).

          (b) Because of the difficulty of measuring economic losses to the
Company as a result of a breach of the foregoing covenant, and because of the
immediate and irreparable damage that could be caused to the Company for which
it would have no other adequate remedy, Executive agrees that the foregoing
covenant may be enforced by the Company in the event of breach by him, by
injunctions and restraining orders.

          (c) It is agreed by the parties that the foregoing covenants in this
Section 3 impose a reasonable restraint on Executive in light of the activities,
business and plans of the Company; it is also the intent of the Company and
Executive that such covenants be construed and enforced in accordance with any
change in the activities, business or plans of the Company throughout the Term.

          (d) The covenants in this Section 3 are severable and separate, and
the unenforceability of any specific covenant shall not affect the provisions of
any other covenant.

          (e) All of the covenants in this Section 3 shall be construed as an
agreement independent of any other provision in this Agreement, and the
existence of any claim or cause of action of Executive against the Company,
whether predicated on this Agreement or otherwise, shall not constitute a
defense to the enforcement of such covenants; provided, however, that the
Company's failure to make payments to Executive under Section 2 or Section 4 of
this Agreement shall constitute such a defense.

          (f) Notwithstanding any of the foregoing, if any applicable law shall
reduce the time period during which Executive shall be prohibited from engaging
in any competitive activity described in Section 3(a) hereof, the period of time
for which Executive shall be prohibited pursuant to Section 3(a) hereof shall be
the maximum time permitted by law.

          (g) The Company acknowledges and agrees that no term or condition set
forth in this Section 3 is binding upon any adult children or step-children of
Executive, so long as Executive does not render any services to or hold any
equity interest in any business with whom such children are employed or hold an
equity interest in and which are engaged in activities falling within the scope
of Section (3)(a)(i).

     4. Term; Termination; Rights on Termination. The term of this Agreement
shall begin on the Commencement Date and continue until the fourth (4th)
anniversary thereof (the "TERM"). This Agreement shall become null and void in
the event of the termination of the Purchase Agreement prior to the consummation
of the Acquisition contemplated thereby. Notwithstanding any provision in this
Agreement to the contrary, this Agreement shall become effective only upon
consummation of the Acquisition. This Agreement may also be terminated by
Executive, if Executive is not issued the Options on the Commencement Date, such
termination to be effected by written notice given by Executive to the Company
within ten (10) days after the Commencement Date (upon which this Agreement
shall be null and void). In addition, this Agreement and Executive's employment
may be terminated in any one of the following ways:

          (a) Death. The death of Executive shall immediately terminate this
Agreement with no severance compensation due to Executive's estate.

          (b) Disability. If, as a result of Executive's incapacity due to
physical or mental illness, Executive shall not have performed his duties
hereunder on a full-time basis for one hundred twenty (120) days or more in any
one hundred fifty (150) day period, Executive's employment under this Agreement
may be terminated by the Company upon thirty (30) days written notice if
Executive is unable to resume his full time duties at the conclusion of such
notice period. Executive's compensation during any period of disability prior to
the effective date of such termination shall be the amounts normally payable to
him in accordance with his then current annual base salary, reduced by the
amounts of disability pay, if any, paid to Executive under any Company
disability program. Executive shall not be entitled to any further compensation
from the Company for any period subsequent to the effective date of such
termination, except for a prorated portion of the targeted Bonus for the current
fiscal year and pay or benefits, if any, in accordance with then existing
severance policies of the Company and the severance terms of Company benefit
plans.

          (c) Termination by the Company.

               (i) FOR CAUSE. The Company may terminate this Agreement
immediately upon written notice to Executive for cause, which shall be: (1)
Executive's conviction of, or plea of nolo contendere to, a felony or other
crime involving moral turpitude; (2) Executive's breach of any fiduciary duty
owed to the Company or Operating Sub or their affiliates, or breach of the
provisions of Section 3 or Section 6 hereof that is not cured within ten (10)
days of written notice to Executive, (3) any other material breach by Executive
of this Agreement that is not cured within twenty (20) days of written notice to
Executive, or (4) Executive's commission of (A) any act of willful dishonesty or
fraud, (B) any act of embezzlement or other misappropriation of Company assets,
or (C) gross negligence or intentional nonperformance of duties, so long as such
breach or matter is not corrected or cured to the Company's reasonable
satisfaction within ten (10) days of notice to Executive thereof. In the event
of a termination for Cause, as enumerated above, Executive shall have no right
to any severance compensation.

               (ii) WITHOUT CAUSE. In addition to the provisions of Section
4(c)(i), the Company may, at any time, terminate this Agreement upon written
notice to Executive, if such termination is approved by a majority of the Board
of the Company. In the event of such a termination "Without Cause," Executive
shall have the right to receive severance compensation as set forth below in
Section 4(f).

          (d) Termination by Executive For Good Reason. Executive may terminate
this Agreement upon thirty (30) days' written notice to the Company in the event
of (1) a material breach by the Company of the terms of this Agreement, (2) the
Board assigning Executive duties that are not commensurate with the positions of
chairman of the board and chief executive officer or president, (3) a reduction
in Executive's Base Salary or Bonus percentage set forth in Section 2 above, or
a material change in the aggregate benefits provided to Executive (other than
reductions in benefits which apply to all

employees of the Company, generally), or (4) the office of the Company to which
Executive is assigned is moved out of the greater Dallas/Ft. Worth, Texas
metropolitan area, so long as such breach or matter is not corrected or cured
within such thirty (30) day period. Such events shall hereinafter be referred to
as "FOR GOOD REASON." In the event of a termination For Good Reason, Executive
shall have the right to receive severance compensation as set forth below in
Section 4(f). If Executive resigns or otherwise terminates his employment for
any reason other than For Good Reason, Executive shall receive no severance
compensation.

          (e) Payment Through Termination. Upon termination of this Agreement
for any reason provided above, Executive (or Executive's estate, as applicable)
shall be entitled to receive all compensation earned and all benefits and
reimbursements (including payments for accrued vacation and sick leave) due
through the effective date of termination. Additional compensation subsequent to
termination, if any, shall be due and payable to Executive only to the extent,
and in the manner, expressly provided above. All other rights and obligations
under this Agreement shall cease as of the effective date of termination, except
that Executive's obligations under Sections 3, 5, 6, 7 and 9 shall survive such
termination in accordance with their terms.

          (f) Severance. If Executive's employment is terminated by the Company
pursuant to Section 4(c)(ii) Without Cause, or by Executive pursuant to Section
4(d) For Good Reason, the Company shall, subject to Executive's execution of a
general release of all claims and rights that Executive may have against the
Company and its related entities and their respective officers, directors, and
employees, including but not limited to all claims and rights relating to
Executive's employment and/or termination, in a form reasonably acceptable to
the Company and Executive (a "RELEASE"), continue to pay Executive (the
"SEVERANCE") his then current Base Salary plus the targeted Bonus for the
remainder of the term (the "SEVERANCE PERIOD"). Notwithstanding anything herein
to the contrary, the Severance payments shall terminate twenty (20) days after
the Company provides notice to Executive that the Company intends to terminate
such payments because Executive has breached a provision of Sections 3, 5, or 6
of this Agreement. It is understood and agreed that the Release shall not
release or affect (x) any right of Executive to indemnification in his capacity
as an officer of the Company or Operating Sub or member of the Board, on the
same terms available to other officers or members of the Board generally or (y)
any remaining obligations of the Company under this Agreement to be performed
from and after the date of such Release.

          (g) Non-Disparagement. Each of the Company and Executive agrees that,
during the Term and following the expiration or early termination thereof, it or
he, as the case may be, will not make any derogatory comments, either written or
oral, which could be construed as negative or derogatory concerning the other,
to any persons including, but not limited to, clients, customers, potential
clients, potential customers, vendors, employees, or financial or credit
institutions.

          (h) Vesting. Following termination of Executive's employment with the
Company under Section 4(a), Section 4(b), Section 4(c)(ii) or Section 4(d), all
options scheduled to vest on the vesting date immediately following the date of
such termination shall automatically vest.

     5. Inventions. Executive shall disclose promptly to the Company any and all
significant conceptions and ideas for inventions, improvements and valuable
discoveries ("INVENTIONS"), whether patentable or not, that are conceived or
made by Executive, solely or jointly with another, during the period of
employment and that are directly related to the business or activities of the
Company and that Executive conceives as a result of his employment by the
Company. Executive hereby assigns and agrees to assign all his interests in the
Inventions to the Company or its nominee. Executive agrees that all Inventions
that he develops or conceives and/or documents during such period shall be
deemed works made-for-hire for the Company within the meaning of the copyright
laws of the United States or any similar or analogous law or statute of any
other jurisdiction, and accordingly, the Company shall be the sole and exclusive
owner for all purposes for the distribution, exhibition, advertising and
exploitation of the Inventions or any part of them in all media and by all means
now known or that may hereafter be devised, throughout the universe in
perpetuity. Executive agrees that in furtherance of the foregoing, he shall
disclose, deliver and assign to the Company all Inventions and shall execute all
such documents, including patent and copyright applications, as the Company
reasonably shall deem necessary to further document the Company's ownership
rights therein and to provide the Company the full and complete benefit thereof.
Should any arbitrator or court of competent jurisdiction ever hold that the
materials derived from Executive's contributions to the Company do not
constitute works made-for-hire, Executive hereby irrevocably assigns to the
Company, and agrees that the Company shall be the sole and exclusive owner of,
all right, title and interest in and to all Inventions, including the copyrights
and any other proprietary rights arising therefrom. Executive reserves no rights
with respect to any Inventions, and hereby acknowledges the adequacy and
sufficiency of the compensation paid and to be paid by the Company to Executive
for the Inventions and the contributions he will make to the development of any
such information or Inventions. Executive agrees to cooperate with all lawful
efforts of the Company to protect the Company's rights in and to any or all of
such information and Inventions and will, at the request of the Company, execute
any and all instruments or documents necessary or desirable in order to
register, establish, acquire, prosecute, maintain, perfect or defend the
Company's rights in and to the Inventions. Any such Inventions that were
developed by Executive prior to his employment with ACN (and its predecessors)
shall not be covered by the terms of this Section 5. However, to the extent that
any such Inventions are deemed owned by Executive and Executive has permitted
the Company (or ACN or its predecessors) to use such Inventions, the Company
shall have a perpetual, non-exclusive, royalty-free license to use such
Inventions, which license shall survive the termination of this Agreement.

     6. Confidential Information and Trade Secrets. Executive acknowledges and
agrees that all Confidential Information, Trade Secrets and other property
delivered to or compiled by Executive by or on behalf of the Company or its
representatives, vendors or customers that pertain to the business of the
Company shall be and remain the property of the Company and be subject at all
times to its discretion and control. Executive agrees that he shall maintain
strictly the confidentiality of, and shall not, during, or for a period of five
(5) years after, the expiration of the Term, disclose, any such Confidential
Information or Trade Secrets.

For purposes hereof, "CONFIDENTIAL INFORMATION" means and includes:

     o    All business or financial information, plans, processes and
          strategies, market research and analyses, projections, financing
          arrangements, consulting and sales methods and techniques, expansion
          plans, forecasts and forecast assumptions, business practices,
          operations and procedures, marketing and merchandising information,
          distribution techniques, customer information and other business
          information, including records, designs, patents, business plans,
          financial statements, manuals, memoranda, lists and other
          documentation respecting the Company, Operating Sub and its
          affiliates;

     o    All information and materials that are proprietary and confidential to
          a third party and that have been provided to the Company by such third
          party for Company use; and

     o    All information derived from such Confidential Information.

Confidential Information shall not include information and materials that are
already, or otherwise become, known by or generally available to the public
without restriction on disclosure, other than as a result of an act or omission
by Executive in breach of the provisions of this Agreement or any other
applicable agreement between Executive and the Company.

For purposes hereof, the term "TRADE SECRET" shall have the meaning given in the
Delaware enactment of the Uniform Trade Secrets Act, and shall include, without
limitation, the whole or any portion or phase of any scientific or technical
information, design, process, formula, concept, data organization, manual, other
system documentation, or any improvement of any thereof, in any case that is
valuable and secret (in the sense that it is not generally known to the
Company's competitors). Any such Confidential Information and Trade Secrets that
were developed by Executive prior to his employment with ACN (and its
predecessors) shall not be covered by the terms of this Section 6.

     7. Return of Company Property; Termination of Employment. At such time, if
ever, as Executive's employment with the Company is terminated, he shall be
required to participate in an exit interview for the purpose of assuring a
proper termination of his employment and his obligations hereunder. On or before
the actual date of such termination, Executive shall return to the Company all
records, materials and other physical objects relating to his employment with
the Company (and Operating Sub), including, without limitation, all Company
credit cards and access keys and all materials relating to, containing or
derived from any Trade Secrets or Confidential Information.

     8. No Prior Agreements. Executive hereby represents and warrants to the
Company that the execution of this Agreement by Executive and his employment by
the Company (and Operating Sub) and the performance of his duties hereunder will
not violate or be a breach of any agreement with a former employer, client or
any other person or entity. Further, Executive agrees to indemnify the Company
and Operating Sub for, and hold the Company and Operating Sub harmless from, and
against, all claims,

including, but not limited to, attorneys' fees and expenses of investigation, by
any such third party that such third party may now have or may hereafter come to
have against the Company or Operating Sub based upon or arising out of any
noncompetition agreement, invention or secrecy agreement between Executive and
such third party that was in existence as of the date of this Agreement.

     9. Binding Effect; Assignment. This Agreement shall be binding upon, inure
to the benefit of and be enforceable by the parties hereto and their respective
heirs, legal representatives, successors and assigns. Executive understands that
he has been selected for employment by the Company (and Operating Sub) on the
basis of his personal qualifications, experience and skills. Executive agrees,
therefore, that he cannot assign all or any portion of his performance under
this Agreement. In addition, the Company may not assign this Agreement except to
Operating Sub or another subsidiary of the Company, without the prior written
consent of Executive.

     10. Complete Agreement. Except as specifically provided herein, this
Agreement is not a promise of future employment. Executive has no oral
representations, understandings or agreements with the Company, Operating Sub,
or any of their officers, directors or representatives covering the same subject
matter as this Agreement. This Agreement is the final, complete and exclusive
statement and expression of the agreement between the Company and Executive
regarding the subject matter contained herein and of all the terms of this
Agreement, it cannot be varied, contradicted or supplemented by evidence of any
prior or contemporaneous oral or written agreements. The Original Agreement and
any rights granted to Executive thereby are superseded by this Agreement,
effective as of the Commencement Date.

     11. Notice. Whenever any notice is required hereunder, it shall be given in
writing addressed as follows:

          To the Company or Operating Sub:

          Courtside Acquisition Corp.
          1700 Broadway, 17th Floor
          New York, NY 10119
          Attention: Richard D. Goldstein
          Fax No.: (212) 641-5050

          with a copy to:

          Graubard Miller
          405 Lexington Avenue
          New York, NY 10174
          Attn: David Alan Miller, Esq.
          Fax No.: (212) 818-8881

          To Executive:

          Eugene Carr

          3119 Briarwood Lane
          Frisco, Texas 75034
          Fax No.: (972) 801-3496

          with a copy to:

          Paul A. Gajer
          Sonnenschein Nath & Rosenthal LLP
          1221 Avenue of the Americas
          New York, New York 10020
          Attn: Paul A. Gajer, Esq.
          Fax No.: (212) 768-6800

Notice shall be deemed given and effective three (3) days after the deposit in
the U.S. mail of a writing addressed as above and sent first class mail,
certified, return receipt requested, or when actually received, if earlier.
Either party may change the address for notice by notifying the other party of
such change in accordance with this Section 11.

     12. Severability; Headings. It is the intention of the parties that the
provisions herein shall be enforceable to the fullest extent permitted under
applicable law and that the unenforceability of any provision or provisions
hereof, or any portion thereof, shall not render unenforceable or otherwise
impair any other provisions or portions thereof. If any provision of this
Agreement is determined by a court of competent jurisdiction to be
unenforceable, void or invalid in whole or in part, this Agreement shall be
deemed amended to delete or modify, as necessary, the offending provisions or
portions thereof and to alter the bounds thereof, including specifically, any
time, place and manner restrictions contained in any of the restrictive
covenants contained herein, in order to render it valid and enforceable. In any
event, the balance of this Agreement shall be enforced to the fullest extent
possible without regard to such unenforceable, void or invalid provisions or
part thereof. The Section headings herein are for reference purposes only and
are not intended in any way to describe, interpret, define or limit the extent
or intent of this Agreement or of any part hereof.

     13. Arbitration. Any unresolved dispute or controversy arising under or in
connection with this Agreement (excluding specifically, however, claims and
counterclaims of the Company or Operating Sub arising out of any breach by
Executive of the provisions of Sections 3, 5, 6, and 7) shall be settled
exclusively by arbitration, conducted in accordance with the rules of the
American Arbitration Association then in effect, as modified hereby.
Notwithstanding anything contained in the rules to the contrary, however, the
arbitrators shall not have the authority to add to, detract from, or modify any
provision hereof, nor to award punitive or special damages to any injured party.
Judgment may be entered on the arbitrators' award in any court having
jurisdiction. The arbitration proceeding shall be held in Dallas, Texas.

     14. Governing Law. This Agreement shall in all respects be construed
according to the laws of the State of Texas without reference to its conflicts
of laws provisions.

     15. Counterparts. This Agreement may be executed in any number of
counterparts and any party hereto may execute any such counterpart, each of
which when executed and delivered shall be deemed to be an original and all of
which counterparts taken together shall constitute but one and the same
instrument. This Agreement shall become binding when one or more counterparts
taken together shall have been executed and delivered (which deliveries may be
by telefax) by the parties. It shall not be necessary in making proof of this
Agreement or any counterpart hereof to produce or account for any of the other
counterparts.

     16. Modifications. This Agreement may not be changed, waived, discharged or
terminated orally, but only by an instrument in writing signed by the party
against which enforcement of such change, waiver, discharge or termination is
sought, or his or its duly authorized representative or officer. No waiver by
Executive or the Company of any breach of any provision hereof will be deemed a
waiver of any prior or subsequent breach of the same or any other provision. The
failure of Executive or the Company to exercise any right provided herein will
not be deemed on any subsequent occasions to be a waiver of any right granted
hereunder to either of them

     17. EXECUTIVE ACKNOWLEDGES THAT, BEFORE SIGNING THIS AGREEMENT, HE WAS
GIVEN AN OPPORTUNITY TO READ IT, CAREFULLY EVALUATE IT, AND ASK ANY QUESTIONS HE
MAY HAVE HAD REGARDING IT OR ITS PROVISIONS. EXECUTIVE ALSO ACKNOWLEDGES THAT HE
HAD THE RIGHT TO HAVE THIS AGREEMENT REVIEWED BY AN ATTORNEY OF HIS CHOOSING AND
THAT THE COMPANY GAVE HIM A REASONABLE PERIOD OF TIME TO DO SO IF HE SO WISHED.
EXECUTIVE FURTHER ACKNOWLEDGES THAT HE IS NOT BOUND BY ANY AGREEMENT THAT WOULD
PREVENT HIM FROM PERFORMING HIS DUTIES AS SET FORTH HEREIN, NOR DOES HE KNOW OF
ANY OTHER REASON WHY HE WOULD NOT BE ABLE TO PERFORM HIS DUTIES AS SET FORTH
HEREIN.

                            [Signature Page Follows]

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

                                        COURTSIDE ACQUISITION CORP.

                                        By: /s/ Richard D. Goldstein
                                            ------------------------------------
                                            Name: Richard D. Goldstein
                                            Title: Chairman

                                        EXECUTIVE

                                           /s/ Eugene Carr
                                           -------------------------------------
                                           EUGENE CARR

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