Document:

Unassociated Document

    

       

      VOTING
        AGREEMENT

       

      Argyle
        Security Acquisition Corporation
200
        Concord Plaza, Suite 700
San
        Antonio, Texas 78216

       

      Gentlemen:

       

      The
        undersigned stockholder of Argyle Security Acquisition Corporation (“Company”),
        in order to facilitate an initial public offering of the securities of the
        Company (“IPO”), hereby agrees that if the Company solicits approval of its
        stockholders of a Business Combination, the undersigned will vote all of
        the
        shares of the Company’s common stock acquired by the undersigned (i) in the IPO,
        (ii) upon the exercise of options currently held by the undersigned and (iii)
        in
        the aftermarket in accordance with the majority of the votes cast by the
        holders
        of the IPO Shares. As used herein, a “Business Combination” shall mean an
        acquisition by merger, capital stock exchange, asset or stock acquisition,
        reorganization or otherwise, of one or more operating businesses in the security
        industry selected by the Company, and “IPO Shares” shall mean the shares of the
        Company’s common stock issued in the IPO.

       

      ARGYLE
        NEW VENTURES L.P.

       

      By:
        Argyle Communications Inc., its general partner

       

      By:
        /s/ Bob
        Marbut                         
         

      Name:
        Bob
        Marbut

      Title:
        

       

      ARGYLE
        JOINT VENTURES

       

      By:
        /s/ Bob Marbut     
                               

      Name:
        Bob
        Marbut

      Title:

       

      
        /s/ Ron
          Chaimovski                            
          

        Ron
          Chaimovski

      

       

      
        /s/ John
          J.
          Smith                                  

      

      John
        J.
        Smith

       

      
        /s/ Wesley
          Clark                                  

      

      Wesley
        ClarkUnassociated Document

     

    OPTION
      AGREEMENT

     

    July
      13,
      2005

     

     

    Insider
      Optionees listed on Schedule
      A 
c/o
      Argyle Security Acquisition Corp. 
200
      Concord Plaza, Suite 700
San
      Antonio, Texas 78216

     

    

     

    Gentlemen:

     

    Argyle
      Security Acquisition Corp. (the “Company”) hereby grants to the persons and
      entities identified on Schedule
      A
      attached
      hereto (the “Insiders”) options to purchase up to an aggregate of 468,750 (the
“Insider Options”) shares of common stock, par value $.0001 per share, of the
      Company at an exercise price of $.008 per share (the “Exercise Price”), to be
      distributed on a pro rata basis, in the event, and to the extent, the
      underwriters exercise their option to purchase up to an additional 1,875,000
      Units (the “Over-allotment Option”) in connection with the Company’s initial
      public offering.

     

    The
      Insider Options shall become exercisable only upon the exercise of the
      Over-allotment Option and shall expire at 5:00 p.m. New York time on the third
      day thereafter. The number of Insider Options that shall be distributed to
      the
      Insiders upon exercise of the Over-allotment Option shall be the product of
      (i)
      the number of Units exercised under the Over-allotment Option multiplied by
      (ii)
      the percentage set forth on Schedule A (the “Available Options”). Exercise of
      the Available Options may then be made on behalf of all the Insiders by the
      payment of the Exercise Price to the Company by any one or more Insiders.

     

    
      	 	 	 
	 	
              Very
                truly yours,

              ARGYLE
                SECURITY ACQUISITION CORP.

            
	 
 	 
 	 
 
	 	By:  	 /s/
              Bob Marbut
	 	
              

            
	 	Bob
              Marbut, Chairman and Co-Chief Executive
              Officer

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Accepted
      and Agreed:

    

    ARGYLE
      NEW VENTURES, L.P.

    By:
      Argyle Communications Inc., its general partner

    

    

    /s/
      Bob
      Marbut                                                                  
      

    Name:
      Bob
      Marbut

    Title:

    

    

    ARGYLE
      JOINT VENTURES

    

    
      
        /s/
          Bob
          Marbut                                                                  
          
Name: Bob Marbut

    

    Title:

    

    

    
      
        /s/ Ron
          Chaimovski 
                                                                   
          

      
Ron
      Chaimovski

     

    
 

    
      /s/ John
        J.
        Smith                                                                  
        

      John
        J. Smith

    

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Schedule
      A

     

    
      	
               
                

               

              Stockholders
                

            	 	
               
                

              Percentage
                of Over-Allotment Option

            	 
	
               
                

              Argyle
                New Ventures L.P.

            	 	 	
              
              

              31.67

            	
              
              

              %

            
	
               
                

              Argyle
                Joint Ventures

            	 	 	
              
              

              
              

              31.67

            	
              
              

              
              

              %

            
	
               Ron
                Chaimovski

            	 	 	
              
              

              31.67

            	
              
              

              %

            
	
              John
                J. Smith

            	 	 	
              5

            	
              %

            
	 	 	 	 	 

    

     

    

    
      
        
        

      

      
        3Unassociated Document

     

    
 

    AMENDMENT
      TO OPTION AGREEMENT

     

    September
      26, 2005

     

     

    Insider
      Optionees listed on Schedule
      A 
c/o
      Argyle Security Acquisition Corp. 
200
      Concord Plaza, Suite 700
San
      Antonio, Texas 78216

     

    Gentlemen:

     

    On
      July
      13, 2005, Argyle Security Acquisition Corp. (the “Company”) entered into an
      option agreement (the “Option Agreement”) with Argyle New Ventures, L.P., Argyle
      Joint Ventures and Ron Chaimovski (the “Stockholders”) pursuant to which the
      Stockholders were granted an option to purchase up to an aggregate of 468,750
      (the “Insider Options”) shares of common stock, par value $.0001 per share (the
“Common Stock”), of the Company at an exercise price of $.008 per share, to be
      distributed on a pro rata basis, in the event, and to the extent, the
      underwriters exercise their option to purchase up to an additional 1,875,000
      Units in connection with the Company’s initial public offering. On September 23,
      the Stockholders entered into a stock transfer agreement (the “Transfer
      Agreement”) with Wesley Clark pursuant to which they agreed to transfer to Mr.
      Clark 234,375 shares of Common Stock and a corresponding number of the
      Insider Options.

     

    Therefore,
      pursuant to the terms of the Transfer Agreement, Schedule
      A
      of the
      Option Agreement is hereby deleted in its entirety and replaced by Schedule
      A
      attached
      hereto. 

     

    
       

      
        	 	 	 
	 	
                Very
                  truly yours,

                 

                ARGYLE
                  SECURITY ACQUISITION CORP.

              
	 
 	 
 	 
 
	 	By:  	 /s/
                Bob Marbut
	 	
                

              
	 	Bob
                Marbut, Chairman and Co-Chief Executive
                Officer

      

       

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Accepted
      and Agreed:

    

    ARGYLE
      NEW VENTURES, L.P.

    By:
      Argyle Communications Inc., its general partner

    

     

    
      /s/
        Bob
        Marbut                                                                  
        

    

    Name:
      Bob
      Marbut

    Title:

    

    

    ARGYLE
      JOINT VENTURES

    

    
      /s/
        Bob
        Marbut                                                                  
        
Name:
      Bob
      Marbut

    Title:

    

    

    
      
        /s/ Ron
          Chaimovski                                                          
          
Ron Chaimovski

    

    

    

    
      
        /s/ Wesley
          Clark                                                                
          
Wesley Clark

    

     

     
      
        /s/ John
          J. Smith
                                                                          
          
John
        J.
        Smith

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    Schedule
      A

     

     

    
      	
               
                

               

              Stockholders
                

            	 	
               
                

              Percentage
                of Over-Allotment Option

            	 
	
               
                

              Argyle
                New Ventures L.P.

            	 	 	
              
              

              29.16

            	
              
              

              %

            
	
               
                

              Argyle
                Joint Ventures

            	 	 	
              
              

              29.17

            	
              
              

              %

            
	
               Ron
                Chaimovski

            	 	 	
              29.17

            	
              %

            
	
              John
                J. Smith

            	 	 	
              5.0

            	
              %

            
	
              Wesley
                Clark

            	 	 	
              7.5

            	
              %

            

    

     

     

    

    
      
        
        

      

      
        3

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