Document:

EXHIBIT 10.5

                                                  May 17, 2005

Coconut Palm Acquisition Corp.
595 South Federal Highway
Suite 600
Boca Raton, Florida 33432

Morgan Joseph & Co. Inc.
600 Fifth Avenue
19th Floor
New York, New York 10020

EarlyBirdCapital, Inc.
275 Madison Avenue
Suite 1203
New York, New York 10016

                Re:     INITIAL PUBLIC OFFERING

Gentlemen:

                The undersigned officer and director of Coconut Palm Acquisition
Corp.  ("Company"),  in  consideration  of  Morgan  Joseph & Co.  Inc.  ("Morgan
Joseph") and  EarlyBirdCapital,  Inc.  ("EBC")  entering into a letter of intent
("Letter of Intent") to underwrite an initial public  offering of the securities
of the Company  ("IPO")  and  embarking  on the IPO  process,  hereby  agrees as
follows  (certain  capitalized  terms used  herein are defined in  paragraph  10
hereof):

                1.      In the event  that the  Company  fails to  consummate  a
Business Combination within 18 months from the effective date ("Effective Date")
of the  registration  statement  relating  to the IPO (or 24  months  under  the
circumstances  described in the prospectus relating to the IPO), the undersigned
will (i)  cause the Trust  Fund (as  defined  in the  Letter  of  Intent)  to be
liquidated  and  distributed  to the  holders  of IPO  Shares  and (ii) take all
reasonable actions within his power to cause the Company to liquidate as soon as
reasonably practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind ("Claim") in or to any  distribution  of the Trust
Fund and any remaining net assets of the Company as a result of such liquidation
and 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

<PAGE>

the Trust Fund for any reason whatsoever.

                2.      In order to  minimize  potential  conflicts  of interest
which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration,  prior to presentation to any other person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer or director of the Company,  subject to any  pre-existing  fiduciary and
contractual obligations the undersigned might have.

                3.      The undersigned acknowledges and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment  banking firm reasonably  acceptable to Morgan Joseph
and EBC that the business combination is fair to the Company's stockholders from
a financial perspective.

                4.      Neither the undersigned, any member of the family of the
undersigned, nor any affiliate of the undersigned ("Affiliate") will be entitled
to receive and will not accept any  compensation  for  services  rendered to the
Company prior to the  consummation  of the Business  Combination;  provided that
commencing on the Effective Date, Royal Palm Capital Management,  LLLP ("Related
Party"),  shall be allowed to charge the Company an  allocable  share of Related
Party's overhead, up to $7,500 per month, to compensate it for the Company's use
of Related  Party's  offices,  utilities  and  personnel.  Related Party and the
undersigned  shall also be entitled to reimbursement  from the Company for their
out-of-pocket  expenses  incurred in connection with seeking and  consummating a
Business Combination.

                5.      Neither the undersigned, any member of the family of the
undersigned,  nor any Affiliate will be entitled to receive or accept a finder's
fee or any other  compensation in the event the  undersigned,  any member of the
family of the undersigned or any Affiliate originates a Business Combination.

                6.      The  undersigned  agrees  to  be a  Vice  President  and
Director of the Company until the earlier of the  consummation by the Company of
a Business  Combination  or the  liquidation of the Company.  The  undersigned's
biographical  information  furnished to the Company,  Morgan  Joseph and EBC and
attached hereto as Exhibit A is true and accurate in all respects, does not omit
any  material  information  with  respect to the  undersigned's  background  and
contains all of the information required to be disclosed pursuant to Item 401 of
Regulation S-K,  promulgated under the Securities Act of 1933. The undersigned's
Questionnaire  furnished  to the Company,  Morgan  Joseph and EBC and annexed as
Exhibit  B  hereto  is  true  and  accurate  in all  respects.  The  undersigned
represents and warrants that:

        (a)     he is not subject to or a  respondent  in any legal  action for,
any  injunction,

<PAGE>

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;

        (b)     he has never been  convicted  of or pleaded  guilty to any crime
(i)  involving  any  fraud or (ii)  relating  to any  financial  transaction  or
handling of funds of another person,  or (iii) pertaining to any dealings in any
securities, and he is not currently a defendant in any such criminal proceeding;
and

        (c)     he 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.

                7.      The  undersigned  has  full  right  and  power,  without
violating  any  agreement  by  which he is  bound,  to enter  into  this  letter
agreement and to serve as Vice President and Director of the Company.

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

                9.      This letter agreement shall be governed by and construed
and  enforced  in  accordance  with the laws of the State of New  York,  without
giving  effect  to  conflicts  of  law  principles  that  would  result  in  the
application of the  substantive  laws of another  jurisdiction.  The undersigned
hereby (i) agrees that any action,  proceeding  or claim against him arising out
of or relating in any way to this letter  agreement  (a  "Proceeding")  shall be
brought and enforced in the courts of the State of New York of the United States
of America for the Southern  District of New York,  and  irrevocably  submits to
such  jurisdiction,  which  jurisdiction  shall be  exclusive,  (ii)  waives any
objection  to such  exclusive  jurisdiction  and that such courts  represent  an
inconvenient  forum and (iii)  irrevocably  agrees to appoint Graubard Miller as
agent for the  service of process in the State of New York to  receive,  for the
undersigned and on his behalf, service of process in any Proceeding.  If for any
reason such agent is unable to act as such, the undersigned will promptly notify
the Company,  Morgan Joseph and EBC and appoint a substitute agent acceptable to
each of the  Company,  Morgan  Joseph and EBC within 30 days and nothing in this
letter  will  affect  the right of either  party to serve  process  in any other
manner permitted by law.

                10.     As used herein, (i) a "Business  Combination" shall mean
an

<PAGE>

acquisition  by merger,  capital  stock  exchange,  asset or stock  acquisition,
reorganization  or otherwise,  of an operating  business;  (ii) "Insiders" shall
mean all officers,  directors and stockholders of the Company  immediately prior
to the IPO; (iii) "Insider  Shares" shall mean all of the shares of Common Stock
of the Company owned by an Insider prior to the IPO; and (iv) "IPO Shares" shall
mean the shares of Common Stock issued in the Company's IPO.

                                                     Mario B. Ferrari
                                                     ----------------
                                                     Print Name of Insider

                                                     /s/ Mario B. Ferrari
                                                     --------------------
                                                     Signature

<PAGE>

                                   Exhibit A

MARIO B. FERRARI has been our director and vice president since our inception.
Mr. Ferrari is a co-founder of RPCP and has been a partner of RPCP since July
2002 and as vice president and director of Royal Palm Capital Management, Inc.,
since February 2005. He has also served as a director of Devcon International
Corporation since July 2004 and as vice chairman of Sunair Electronics, Inc.
since February 2005. From June 2000 to June 2002, he was an investment banker
with Morgan Stanley & Co., where he helped start the firm's private equity
placement group. Previously, Mr. Ferrari co-founded PowerUSA, LLC, a retail
renewable energy services company, in October 1997 and was a managing member
until September 1999. Mr. Ferrari graduated from Georgetown University, where he
received his B.S., magna cum laude, in Finance and International Business.EXHIBIT 10.6

                                             May 17, 2005

Coconut Palm Acquisition Corp.
595 South Federal Highway
Suite 600
Boca Raton, Florida 33432

Morgan Joseph & Co. Inc.
600 Fifth Avenue
19th Floor
New York, New York 10020

EarlyBirdCapital, Inc.
275 Madison Avenue
Suite 1203
New York, New York 10016

                Re:     INITIAL PUBLIC OFFERING

Gentlemen:

                The undersigned officer and director of Coconut Palm Acquisition
Corp.  ("Company"),  in  consideration  of  Morgan  Joseph & Co.  Inc.  ("Morgan
Joseph") and  EarlyBirdCapital,  Inc.  ("EBC")  entering into a letter of intent
("Letter of Intent") to underwrite an initial public  offering of the securities
of the Company  ("IPO")  and  embarking  on the IPO  process,  hereby  agrees as
follows  (certain  capitalized  terms used  herein are defined in  paragraph  10
hereof):

                1.      In the event  that the  Company  fails to  consummate  a
Business Combination within 18 months from the effective date ("Effective Date")
of the  registration  statement  relating  to the IPO (or 24  months  under  the
circumstances  described in the prospectus relating to the IPO), the undersigned
will (i)  cause the Trust  Fund (as  defined  in the  Letter  of  Intent)  to be
liquidated  and  distributed  to the  holders  of IPO  Shares  and (ii) take all
reasonable actions within his power to cause the Company to liquidate as soon as
reasonably practicable.  The undersigned hereby waives any and all right, title,
interest or claim of any kind ("Claim") in or to any  distribution  of the Trust
Fund and any remaining net assets of the Company as a result of such liquidation
and 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

<PAGE>

the Trust Fund for any reason whatsoever.

                2.      In order to  minimize  potential  conflicts  of interest
which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration,  prior to presentation to any other person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer or director of the Company,  subject to any  pre-existing  fiduciary and
contractual obligations the undersigned might have.

                3.      The undersigned acknowledges and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment  banking firm reasonably  acceptable to Morgan Joseph
and EBC that the business combination is fair to the Company's stockholders from
a financial perspective.

                4.      Neither the undersigned, any member of the family of the
undersigned, nor any affiliate of the undersigned ("Affiliate") will be entitled
to receive and will not accept any  compensation  for  services  rendered to the
Company prior to the  consummation  of the Business  Combination;  provided that
commencing on the Effective Date, Royal Palm Capital Management,  LLLP ("Related
Party"),  shall be allowed to charge the Company an  allocable  share of Related
Party's overhead, up to $7,500 per month, to compensate it for the Company's use
of Related  Party's  offices,  utilities  and  personnel.  Related Party and the
undersigned  shall also be entitled to reimbursement  from the Company for their
out-of-pocket  expenses  incurred in connection with seeking and  consummating a
Business Combination.

                5.      Neither the undersigned, any member of the family of the
undersigned,  nor any Affiliate will be entitled to receive or accept a finder's
fee or any other  compensation in the event the  undersigned,  any member of the
family of the undersigned or any Affiliate originates a Business Combination.

                6.      The undersigned agrees to be a Vice President, Secretary
and Director of the Company until the earlier of the consummation by the Company
of a Business  Combination or the liquidation of the Company.  The undersigned's
biographical  information  furnished to the Company,  Morgan  Joseph and EBC and
attached hereto as Exhibit A is true and accurate in all respects, does not omit
any  material  information  with  respect to the  undersigned's  background  and
contains all of the information required to be disclosed pursuant to Item 401 of
Regulation S-K,  promulgated under the Securities Act of 1933. The undersigned's
Questionnaire  furnished  to the Company,  Morgan  Joseph and EBC and annexed as
Exhibit  B  hereto  is  true  and  accurate  in all  respects.  The  undersigned
represents and warrants that:

        (a)     he is not subject to or a  respondent  in any legal  action for,
any  injunction,

<PAGE>

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;

        (b)     he has never been  convicted  of or pleaded  guilty to any crime
(i)  involving  any  fraud or (ii)  relating  to any  financial  transaction  or
handling of funds of another person,  or (iii) pertaining to any dealings in any
securities, and he is not currently a defendant in any such criminal proceeding;
and

        (c)     he 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.

                7.      The  undersigned  has  full  right  and  power,  without
violating  any  agreement  by  which he is  bound,  to enter  into  this  letter
agreement and to serve as Vice President, Secretary and Director of the Company.

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

                9.      This letter agreement shall be governed by and construed
and  enforced  in  accordance  with the laws of the State of New  York,  without
giving  effect  to  conflicts  of  law  principles  that  would  result  in  the
application of the  substantive  laws of another  jurisdiction.  The undersigned
hereby (i) agrees that any action,  proceeding  or claim against him arising out
of or relating in any way to this letter  agreement  (a  "Proceeding")  shall be
brought and enforced in the courts of the State of New York of the United States
of America for the Southern  District of New York,  and  irrevocably  submits to
such  jurisdiction,  which  jurisdiction  shall be  exclusive,  (ii)  waives any
objection  to such  exclusive  jurisdiction  and that such courts  represent  an
inconvenient  forum and (iii)  irrevocably  agrees to appoint Graubard Miller as
agent for the  service of process in the State of New York to  receive,  for the
undersigned and on his behalf, service of process in any Proceeding.  If for any
reason such agent is unable to act as such, the undersigned will promptly notify
the Company,  Morgan Joseph and EBC and appoint a substitute agent acceptable to
each of the  Company,  Morgan  Joseph and EBC within 30 days and nothing in this
letter  will  affect  the right of either  party to serve  process  in any other
manner permitted by law.

                10.     As used herein, (i) a "Business  Combination" shall mean
an

<PAGE>

acquisition  by merger,  capital  stock  exchange,  asset or stock  acquisition,
reorganization  or otherwise,  of an operating  business;  (ii) "Insiders" shall
mean all officers,  directors and stockholders of the Company  immediately prior
to the IPO; (iii) "Insider  Shares" shall mean all of the shares of Common Stock
of the Company owned by an Insider prior to the IPO; and (iv) "IPO Shares" shall
mean the shares of Common Stock issued in the Company's IPO.

                                                     Robert C. Farenhem
                                                     ------------------
                                                     Print Name of Insider

                                                     /s/ Robert C. Farenhem
                                                     ----------------------
                                                     Signature

<PAGE>

                                   Exhibit A

ROBERT C. FARENHEM has been our director, vice president and secretary since our
inception. Mr. Farenhem has been a partner and the chief financial officer of
RPCP since April 2003 and vice president and director of Royal Palm Capital
Management, Inc. since February 2005. Mr. Farenhem has also been interim chief
financial officer of Devcon International Corporation since April 2005. Mr.
Farenhem was the Executive Vice President of Strategic Planning and Corporate
Development for publicly-held Bancshares of Florida and Chief Financial Officer
for Bank of Florida from February 2002 to April 2003. Bancshares of Florida is a
multi-bank holding company (including Bank of Florida) with in excess of
$400 million in assets. Previously, Mr. Farenhem was an investment banker
with Banc of America Securities from October 1998 to February 2002, advising on
mergers and acquisitions, public and private equity, leveraged buyouts, and
other financings. Mr. Farenhem graduated from the University of Miami, where he
received his BBA in Finance.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}]]