Document:

EX-10.11

 

EX 10.11

FORM OF INVESTMENT MANAGEMENT TRUST AGREEMENT

     THIS INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Agreement”) is made as of the [                    ]
day of [                    ], 2008, by and between JWL Partners Acquisition Corp., a Delaware corporation (the
“Company”), with its principal offices located at 9 West 57th Street,
26th floor, New York, NY 10019, and Continental Stock Transfer & Trust Company (the
“Trustee”), located at 17 Battery Place, New York, NY 10004.

     WHEREAS, the Company’s Registration Statement on Form S-1, as amended (File No. 333-149120
(the “Registration Statement”)), for its initial public offering of securities (the
“IPO”) has been declared effective as of the date hereof (the “Effective Date”) by
the Securities and Exchange Commission;

     WHEREAS, Credit Suisse Securities (USA) LLC is acting as the representative (the
“Representative”) of the several underwriters in the IPO (collectively, the
“Underwriters”);

     WHEREAS, as described in the Registration Statement, and in accordance with the Company’s
Amended and Restated Certificate of Incorporation, (i) approximately $[198,007,461] (approximately
$[226,957,461] if the Underwriters’ over-allotment option is exercised in full) to be received by
the Company in connection with the IPO, plus (ii) $6,000,000 to be received by the Company in
connection with the sale by the Company of warrants (each warrant representing the right to
purchase one share of the Company’s common stock) to the Company’s sponsors and their affiliates,
will be delivered to the Trustee to be deposited and held in the Trust Account (as defined below)
for the benefit of (A) prior to the consummation of a Business Combination (as defined in the
Registration Statement), (x) the holders of the Company’s common stock issued in the IPO and (y) to
the extent (and only to the extent) that the amount held in such Trust Account is distributable to
the Company pursuant to Section 2 below, the Company, and (B) after the consummation of a Business
Combination, the Company, in each case as hereinafter provided. 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 and the Company will be referred to together as the
“Beneficiaries”;

     WHEREAS, the Property is being held by the Trustee for the benefit of the Public Stockholders
in the event that the Company fails to consummate a Business Combination;

     WHEREAS, pursuant to the Underwriting Agreement, dated as of the date hereof, by and between
the Company and the Underwriters, a portion of the Property equal to $7,000,000 (or $8,050,000 if
the Underwriters’ over-allotment option is exercised in full) is attributable to the Underwriters’
fees, which amounts the Underwriters have agreed to deposit in the Trust Account and which will be
paid from the Trust Account to the Underwriters upon the consummation of a Business Combination;
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.

     IT IS AGREED:

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     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 in a segregated trust account (the “Trust Account”) established by the Trustee at
a branch of J.P. Morgan Chase N.A. and at a brokerage institution satisfactory to the Company and
to 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 written instruction of the Company, invest and reinvest the
Property in any United States “government security” within the meaning of Section 2(a)(16) of the
Investment Company Act of 1940 (the “1940 Act”), having a maturity of one hundred eighty (180) days
or less, or in money market funds selected by the Company meeting the conditions of Rule 2a-7
promulgated under the 1940 Act; provided, that any money market funds in which the Property
is invested will not invest in collateralized debt obligations, as determined by the Company;

          (d) Collect and receive, when due, all principal and income arising from the Property, which
income, net of taxes and subject to Section 1(i), shall become part of the “Property,” as such term
is used herein;

          (e) Promptly notify the Company of all communications received by it with respect to the
Property;

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

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

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

          (i) If there is any income or other tax obligation relating to the income from the Property in
the Trust Account as determined by the Company, then, from time to time, at the written instruction
of the Company, the Trustee shall promptly, to the extent there is not sufficient cash in the Trust
Account to pay such tax obligation, liquidate such assets held in the Trust Account as shall be
designated by the Company in writing, and disburse to the Company by wire transfer, out of the
Property in the Trust Account, the amount indicated by the Company as owing in respect of such
income tax obligation;

          (j) Commence liquidation of the Trust Account promptly after receipt of and only in accordance
with the terms of a letter (the “Termination Letter”), in a form substantially similar to
either that attached hereto as Exhibit A or that attached hereto as Exhibit B,
signed on

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behalf of the Company by its Chief Executive Officer, and complete the liquidation of the
Trust Account and distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the
event that a Termination Letter has not been received by                     , 2010, the Trust Account shall
be liquidated in accordance with the procedures set forth in the Termination Letter attached as
Exhibit B to the stockholders of record on the record date, which record date shall be
fixed by the Board of Directors of the Company; provided, further, that the record
date shall be within ten (10) days of [                    ], 2010 [24 months following the effective date of the
Registration Statement], or as soon thereafter as is practicable. In all cases, the Trustee shall
provide the Representative with a copy of any Termination Letter and/or any other correspondence
that it receives with respect to any proposed withdrawal from the Trust Account promptly after it
receives the same; and

          (k) No distributions from the Trust Account shall be permitted except in accordance with
Sections 1(i), 2(a), or 2(b) hereof.

     2. Permitted Distributions to the Company.

          (a) The Trustee shall release to the Company each month by wire transfer an amount equal to
the interest earned on the Property in the Trust Account, unless the Trustee has received notice
from the Company that any interest income should be set aside to pay taxes in accordance with
Section 1(i), until a maximum of $3,000,000 of such interest has been released to the Company from
the Trust Account. The first such distribution shall include income through the end of the month
in which the Effective Date occurred; and

          (b) The Trustee shall, upon written instructions from the Company, deliver to the Company or
to such governmental entity or taxing authority as the Company shall direct, from the Property in
the Trust Account, an amount equal to the taxes payable by the Company, if any, relating to
interest earned on the Property and any franchise taxes payable by the Company; provided
that, to the extent there is not sufficient cash in the Trust Account to pay such tax
obligations, the Trustee shall liquidate such assets held in the Trust Account as shall be
designated by the Company, in writing, and disburse to the Company by wire transfer out of the
Property in the Trust Account, the amount indicated by the Company as owing in respect of such tax
obligations.

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

          (a) Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief
Executive Officer or any Vice Chairman;

          (b) Hold the Trustee harmless and indemnify the Trustee from and against any and all expenses,
including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection
with any action, suit or other proceeding brought against the Trustee involving any claim, or in
connection with any claim or demand which in any way arises out of or relates to this Agreement,
the services of the Trustee hereunder, or the Property or any income earned from investment of the
Property, except for expenses and losses resulting from the

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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 conduct and manage the defense against such Indemnified Claim; provided, that the
Company may voluntarily participate in such action at its own cost with its own counsel;

          (c) Pay the Trustee an initial acceptance fee and a transaction processing fee for each
disbursement made pursuant to Section 2 as set forth on Schedule A hereto, which fees shall
be subject to modification by the parties from time to time. It is expressly understood that the
Property shall not be used to pay such fees and further agreed that said transaction processing
fees shall be deducted by the Trustee from the disbursements made to the Company pursuant to
Section 2. 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 annual 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 set forth in this Section 3(c) and as may be provided in Section
3(b) hereof (it being expressly understood that the Property shall not be used to make any payments
to the Trustee under such Sections); and

          (d) In connection with any vote of the Company’s stockholders regarding a Business
Combination, provide to the Trustee an affidavit or certificate of a firm regularly engaged in the
business of soliciting proxies and tabulating stockholder votes verifying the vote of the Company’s
stockholders regarding such Business Combination.

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

          (a) Take any action with respect to the Property, other than as directed in Section 1 hereof,
and the Trustee shall have no liability to any party under this Agreement 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 paragraph 1(c);

          (d) Refund any depreciation in principal of any Property invested in accordance with Section
1(c);

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

 

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

          (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;

          (h) Look to any other agreement for the determination of its duties as Trustee;

          (i) As and to the extent requested from time to time by the Company, prepare, execute and file
such tax reports, income or other tax returns and pay any taxes with respect to income and
activities relating to the Trust Account, regardless of whether such tax is payable by the Trust
Account or the Company (including but not limited to income tax obligations), it being expressly
understood that as set forth in Section 1(i), if there is any income or other tax obligation
relating to the Trust Account or the Property in the Trust Account, as determined from time to time
by the Company and regardless of whether such tax is payable by the Company or the Trust, at the
written instruction of the Company, the Trustee shall make funds available in cash from the
Property in the Trust Account an amount specified by the Company as owing to the applicable taxing
authority, which amount shall be paid directly to the Company by electronic funds transfer, account
debit or other method of payment, and the Company shall forward such payment to the taxing
authority; or

          (j) Verify calculations, qualify or otherwise approve Company requests for distributions
pursuant to Sections 1(i), 2(a) or 2(b) above.

     5. Waiver of Claims. The Trustee hereby waives any and all right, title, interest or claim of
any kind (“Claim”) that the Trustee may have against the Property held in the Trust
Account, and hereby agrees not to seek recourse, reimbursement, set-off, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever. In the event that the Trustee
has a claim against the Company under this Agreement, including, without limitation, Section 3(b),
the Trustee will pursue such claim solely against the Company and not against the Property held in
the Trust Account.

     6. Termination. This Agreement shall terminate as follows:

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          (a) If the Trustee gives written notice to the Company that it desires to resign under this
Agreement, the Company shall use its reasonable efforts to locate a successor trustee. At such
time that the Company notifies the Trustee that a successor trustee has been appointed by the
Company and has agreed to become subject to the terms of this Agreement, the Trustee shall transfer
the management of the Trust Account to the successor trustee, including but not limited to the
transfer of copies of the reports and statements relating to the Trust Account, whereupon this
Agreement shall terminate, except that the provisions of Section 3(b) shall survive termination;
provided, however, that in the event that the Company does not locate a successor trustee within
ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee may, upon
written notice to the Company, submit an application to have the Property deposited with the United
States District Court for the Southern District of New York and, upon such deposit, the Trustee
shall be immune from any liability whatsoever that arises due to any actions or omissions to act by
any party after such deposit; or

          (b) At such time that the Trustee has completed the liquidation of the Trust Account in
accordance with the provisions of paragraph 1(i) hereof and distributed the Property in accordance
with the provisions of the Termination Letter, this Agreement shall terminate except with respect
to Paragraph 3(b).

     7. Miscellaneous.

          (a) The Company and the Trustee each acknowledge that the Trustee will follow the security
procedures set forth below with respect to funds transferred from the Trust Account. 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 and of any
change in its authorized personnel. Exhibit C attached hereto lists an Authorized
Individual and an Authorized Number for the Company.

          (b) This Agreement may be executed by facsimile and in several counterparts, which 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 that such action
shall not materially adversely affect the interests of the Underwriters or the Public Stockholders.
Any change, waiver, amendment or modification to this Agreement that materially adversely affects
the interests of the Underwriters or the Public Stockholders shall be subject to approval by the
Representative, if such change materially adversely affects the interests of the Underwriters, or a
majority of the Public Stockholders, if such change materially adversely affects the interests of
the Public Stockholders. 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) This Agreement shall be governed by, and construed in accordance with, the laws of the
State of New York applicable to contracts executed in and to be performed in that State, including,
without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations Law and the New
York Civil Practice Laws and Rules 327(b). The parties hereto

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consent to the jurisdiction and venue of any state or federal court located in the City of New York
for purposes of resolving any disputes hereunder, and the parties hereto irrevocably submit to such
jurisdiction, which jurisdiction shall be exclusive. The parties hereto hereby waive any objection
to such exclusive jurisdiction and that such courts represent an inconvenient forum.

          (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 certified or registered mail,
by private national courier service (return receipt requested, postage prepaid), by personal
delivery or by facsimile transmission. Such notice or communication shall be deemed given (a) if
mailed, two days after the date of mailing, (b) if sent by national courier service, one business
day after being sent, (c) if delivered personally, when so delivered, or (d) if sent by facsimile
transmission, on the second business day after such facsimile is transmitted, in each case as
follows:

If to the Trustee, to:

Continental Stock Transfer & Trust Company

17 Battery Place, 8th Floor

New York, New York 10004

Attn: Steven G. Nelson

Fax: (212) 616-7615

If to the Company, to:

JWL Partners Acquisition Corp.

9 West 57th Street, 26th Floor

New York, New York 10019

Attn: Steven R. Isko

Fax: (212) 605-7663

In either case with a copy to:

Greenberg Traurig, LLP

200 Park Avenue

New York, New York 10166

Attn: Joseph A. Herz, Esq.

Fax: (212) 801-6400

If to Representative or the Underwriters, to:

Credit Suisse Securities (USA) LLC

11 Madison Avenue

New York, New York 10010-3629

Attn: LCD-IBD

With a copy to:

Skadden, Arps, Slate, Meagher & Flom LLP

300 South Grand Avenue

Los Angeles, CA 90071

Attn: Gregg A. Noel, Esq.

Fax: (213) 687-5600

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          (f) This Agreement may not be assigned by the Trustee without the prior written consent of the
Company. This Agreement may be assigned by the Company to a wholly-owned subsidiary of the Company
upon written notice to the Trustee.

          (g) The obligations and rights contained in Section 3(b) herein will survive the termination
of this Agreement.

          (h) 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, and waives any and all right, title, interest or claim of any kind in or to any
distribution of the Trust Account, including by way of set-off, and shall not be entitled to any
funds in, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any
claim against, the Trust Account under any circumstance.

          (i) The Trustee hereby consents to the inclusion of “Continental Stock Transfer & Trust
Company, as Trustee” in the Registration Statement and other materials relating to the IPO.

          (j) The Underwriters and the Public Stockholders shall be third-party beneficiaries of this
Agreement.

[Remainder of page intentionally left blank]

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

	 	 	 	 	 
	 	CONTINENTAL STOCK TRANSFER & 
TRUST COMPANY, AS
TRUSTEE

 	 
	 	By:  	 	 
	 	 	Name:  	Steven G. Nelson	 
	 	 	Title:  	President and Chairman of the Board 	 
	 
	 	JWL PARTNERS ACQUISITION CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	Steven R. Isko 	 
	 	 	Title:  	Vice Chairman of the Board and
Corporate Secretary 	 
	 

[Trust Agreement]EX-10.17

 

EX 10.17

                          , 2008

JWL Partners Acquisition Corp.

9 West 57th Street, 26th Floor

New York, New York 10019

	 	 	 
	Re:

	 	Initial Public Offering

Ladies and Gentlemen:

     This letter is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”), to be entered into by and between JWL Partners Acquisition
Corp., a Delaware corporation (the “Company”), and Credit Suisse Securities (USA) LLC,
acting as the representative (the “Representative”) of the several underwriters
(collectively, the “Underwriters”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s units (the “Units”), each Unit comprised of one share
of the Company’s Common Stock, par value $0.0001 per share (the “Common Stock”), and one
warrant, which is exercisable for one share of Common Stock. Certain capitalized terms used herein
are defined in paragraph 12 hereof.

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

	1.	 	If the Company solicits approval of its stockholders of a Business Combination, the
undersigned will vote (i) all Insider Shares owned by the undersigned in accordance with the
majority of the votes cast by the holders of the IPO Shares with respect to the initial
Business Combination and an amendment to the Amended and Restated Certificate of Incorporation
of the Company (the “Amended and Restated Certificate”) to provide for the Company’s
perpetual existence, and (ii) all shares of Common Stock that the undersigned has acquired in
the open market in favor of the initial Business Combination and an amendment to the Amended
and Restated Certificate to provide for the Company’s perpetual existence. The undersigned
will not vote in favor of any amendment to Articles [Fifth] and [Sixth] of the Amended and
Restated Certificate proposed to be filed with the Secretary of State of the State of Delaware
on or before the effective date (the “Effective Date”) of the Registration
Statement.1

 

			
	1	 	Article [Fifth] of the Amended and Restated Certificate
relates to the termination of the existence of the Company. Article [Sixth]
includes provisions relating to (i) the Trust Account, (ii) approval of a
Business Combination by the Company’s stockholders, (iii) conversion rights,
and (iv) rights to receive funds from the Trust Account.

 

	2.	 	In the event that the Company fails to consummate a Business Combination within twenty-four
(24) months from the closing date of the IPO, the undersigned will take all reasonable actions
within the undersigned’s power to: (i) cause the Trust Account to be liquidated and
distributed to the holders of IPO Shares in accordance with that Investment Management Trust
Agreement to be entered into by and among the Company and Continental Stock Transfer & Trust
Company (“Continental”), as Trustee (the “Trust Agreement”); and (ii) cause
the Company to liquidate as soon as reasonably practicable. The undersigned agrees that in
connection with any cessation of the corporate existence of the Company, it will take all
reasonable steps to cause the Company to adopt a plan of distribution in accordance with
Section 281(b) of the General Corporation Law of the State of Delaware or any successor
provision thereto. The undersigned hereby waives any and all right, title, interest or claim
of any kind (each a “Claim”) in or to (x) any distribution of the Trust Account with
respect to the undersigned’s Insider Shares in connection with a liquidation and (y) any
remaining net assets of the Company after such liquidation. The undersigned hereby waives any
Claim the undersigned may have in the future as a result of, or arising out of, any contracts
or agreements with the Company and will not seek recourse against the funds held in or
distributed from the Trust Account for any reason (other than with respect to reimbursement of
out-of-pocket expenses incurred in connection with seeking and consummating a Business
Combination). The undersigned acknowledges and agrees that there will be no distribution from
the Trust Account with respect to any warrants, all rights of which will terminate on the
Company’s liquidation.

	3.	 	Except as disclosed in the Registration Statement, neither the undersigned nor any Affiliate
of the undersigned will be entitled to receive and will not accept any compensation for
services rendered to the Company prior to or in connection with the consummation of the
Business Combination; provided, that the undersigned shall be entitled to
reimbursement from the Company upon approval by the Company’s Audit Committee for the
undersigned’s reasonable out-of-pocket expenses incurred in connection with seeking and
consummating a Business Combination; and provided, further, that, commencing
upon the Effective Date, Clinton Group, Inc., an Affiliate of the undersigned, shall be
allowed to charge the Company up to $7,500 per month, to compensate Clinton Group, Inc. for
the provision to the Company of general and administrative services, including office space,
utilities and administrative support until the earlier of the Company’s consummation of a
Business Combination or its liquidation.

	4.	 	Neither the undersigned nor any Affiliate of the undersigned will be entitled to receive or
accept from the Company a finder’s fee, broker commission or any other compensation in the
event the undersigned or any Affiliate of the undersigned originates a Business Combination.

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	5.	 	The undersigned shall escrow the undersigned’s Insider Shares, Insider Warrants and Sponsors’
Warrants in accordance with the terms of a Securities Escrow Agreement which the Company will
enter into with the undersigned and Continental, as escrow agent, in form and substance
reasonably acceptable to the Company.

	6.	 	With respect to the undersigned, the information in the Registration Statement is true and
accurate in all respects and does not omit any material information with respect to the
undersigned. The undersigned represents and warrants that:

	 	6.1.	 	the undersigned is not subject to, or a respondent in, any legal action for any
injunction, cease-and-desist order or order or stipulation to desist or refrain from any
act or practice relating to the offering of securities in any jurisdiction;
	 
	 	6.2.	 	the undersigned has never been convicted of or pleaded guilty to any crime (i)
involving any fraud; (ii) relating to any financial transaction or handling of funds of
another person; (iii) pertaining to any dealings in any securities; or (iv) moral
turpitude, and the undersigned is not currently a defendant in any such criminal
proceeding;
	 
	 	6.3.	 	the undersigned has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or commodities
license or registration denied suspended or revoked;
	 
	 	6.4.	 	a petition under any federal bankruptcy laws or any state insolvency law was not
filed by or against, nor was a receiver fiscal agent or similar officer appointed by a
court for the business or property of the undersigned, or for any partnership in which the
undersigned was a general partner, in each case within the past five (5) years;
	 
	 	6.5.	 	the undersigned has not been subject to any order prohibiting and is not subject to
any legal proceeding seeking to prohibit the undersigned from engaging in any type of
business practice;
	 
	 	6.6.	 	the undersigned has not been found by a court of competent jurisdiction in a civil
action by the Securities and Exchange Commission or by any other federal or state
administrative or regulatory authority to have violated any federal or state securities
law;
	 
	 	6.7.	 	the undersigned has not been found by a court of competent jurisdiction in a civil
action by the Commodity Futures Trading Commission or by any other federal or state
administrative or regulatory authority to have violated any federal or state commodities
law; and
	 
	 	6.8.	 	the Company has not had any discussions and has no plans, arrangements or
understandings with a prospective acquisition candidate.

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	7.	 	In the event of the liquidation of the Trust Account, the undersigned agrees to indemnify the
Company against claims by any third party for services rendered or products sold to the
Company or by any entity that the Company has entered into an acquisition agreement with (or
has negotiated with for the purpose of entering into an acquisition agreement with), but only
to the extent necessary to ensure that such claims do not reduce the amount of funds in the
Trust Account and only if such third party or entity has not executed an agreement waiving
claims against the Trust Account. The undersigned will have the right to defend against any
such claim with counsel of its choice reasonably satisfactory to the Company if, within
fifteen (15) days following written receipt of notice of the claim to the undersigned, the
undersigned notifies the Company in writing that the undersigned will undertake such defense.
	 
	8.	 	Reference is made to the lock-up agreement letter by and among the undersigned and the
Underwriters, dated as of February 1, 2008, and the undersigned covenants and undertakes to
the Company to comply with the terms thereof as if the Company were a party thereto.
	 
	9.	 	This letter agreement shall be binding on the Company and the undersigned and the
undersigned’s respective successors, heirs, personal representatives and assigns. This letter
agreement shall terminate on the earlier of (i) the date upon which the Business Combination
is consummated; and (ii) the date upon which the liquidation and distribution of the Trust
Account is completed, provided that the following Sections shall survive such
termination: 3, 4, 5, 8, 9, 10, 11, 12 and 13.
	 
	10.	 	This letter agreement shall be governed by, and construed in accordance with, the laws of the
State of New York applicable to contracts executed in and to be performed in that State,
including, without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations
Law and the New York Civil Practice Laws and Rules 327(b). Each of the Company and the
undersigned hereby (i) agrees that any action, proceeding or claim against him or it arising
out of or relating in any way to this letter agreement shall be brought and enforced in the
courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive; and (ii) waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum.
	 
	11.	 	Each party hereto hereby irrevocably and unconditionally waives the right to a trial by jury
in any action, suit, counterclaim or other proceeding (whether based on contract, tort or
otherwise) arising out of, connected with or relating to this letter agreement.
	 
	12.	 	As used herein:

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	 	12.1.	 	“Affiliate” shall have the meaning ascribed to it in Rule 12b-2 of the General Rules
and Regulations under the Securities Exchange Act of 1934, as amended.
	 
	 	12.2.	 	“Business Combination” shall have the meaning set forth in the Registration
Statement.
	 
	 	12.3.	 	“Insiders” shall mean each of the following:
	 
	 	 	 	Jerry W. Levin

Steven R. Isko

Michael A. Popson

Alan Gelband (including the Alan Gelband Company Defined Contribution Pension Plan and
Trust)

GEH Capital, Inc.
	 
	 	12.4.	 	“Insider Shares” shall mean all of the shares of Common Stock owned by an Insider
prior to the IPO.
	 
	 	12.5.	 	“Insider Warrants” shall mean all of the warrants exercisable for shares of Common
Stock owned by an Insider prior to the IPO.
	 
	 	12.6.	 	“IPO Shares” shall mean the shares of Common Stock comprising the Units issued in
the Company’s IPO.
	 
	 	12.7.	 	“Registration Statement” shall mean the registration statement filed by the Company
on Form S-1 (No. 333-149120) with the Securities and Exchange Commission on February 8,
2008, and any amendment or supplement thereto, in connection with the IPO.
	 
	 	12.8.	 	“Sponsors’ Warrants” shall mean the warrants to be purchased by the undersigned
immediately prior to and subject to the consummation of the Company’s IPO, as set forth in
that certain Warrant Subscription Agreement, dated as of February 5, 2008, by and between
the Company and the undersigned, as such may be amended from time to time.
	 
	 	12.9.	 	“Trust Account” shall mean the trust account established pursuant to the Trust
Agreement, the amounts therein to be released only in the event of the consummation of a
Business Combination, a liquidation of the Company or as otherwise permitted by the Trust
Agreement.

	13.	 	No term or provision of this letter agreement may be amended, changed, waived altered or
modified except by written instrument executed and delivered by the undersigned, the Company
and the Representative.

[Remainder of page intentionally left blank]

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	 	 	Sincerely,	 	 
	 
	 	 	 	 	 	 
	 	 	GEH CAPITAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

	 	 	 	 	 	 	 
	Accepted and agreed:	 	 
	 
	 	 	 	 	 	 
	JWL PARTNERS ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Steven R. Isko	 	 
	 

	 	Title:
	 	Vice Chairman of the Board and Corporate Secretary	 	 

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