Document:

Unassociated Document

    

    

    

    Subscription
      Agreement

    

    As
      of January 4, 2008

    

    To
      the
      Board of Directors of 

    Global
      Alternative Asset Management, Inc.:

    

    Gentlemen:

    

    The
      undersigned hereby subscribes for and agrees to purchase 7,825,000 Warrants
      (“Insider Warrants”) at $1.00 per Insider Warrant, each to purchase one share of
      common stock, par value $0.0001 per share, of Global Alternative Asset
      Management, Inc. (the “Corporation”) at $6.50 per share for an aggregate
      purchase price of $7,825,000 (“Purchase Price”). The purchase and issuance of
      the Insider Warrants shall occur simultaneously with the consummation of the
      Corporation’s initial public offering of securities (“IPO”) which is being
      underwritten by EarlyBirdCapital, Inc. (“EBC”). The Insider Warrants will be
      sold to the undersigned on a private placement basis and not part of the
      IPO.  Except as set forth herein, the Insider Warrants shall be identical
      to the warrants issued in the IPO.

    

    At
      least
      24 hours prior to the effective date of the registration statement filed in
      connection with the IPO (“Registration Statement”), the undersigned shall
      deliver the Purchase Price to Graubard Miller (“GM”) to hold in a non-interest
      bearing account until the Corporation consummates the IPO. Simultaneously with
      the consummation of the IPO, GM shall deposit the Purchase Price, without
      interest or deduction, into the trust fund (“Trust Fund”) established by the
      Corporation for the benefit of the Corporation’s public stockholders as
      described in the Corporation’s Registration Statement, pursuant to the terms of
      an Investment Management Trust Agreement to be entered into between the
      Corporation and Continental Stock Transfer & Trust Company. In the event
      that the IPO is not consummated within 14 days of the date the Purchase Price
      is
      delivered to GM, GM shall return the Purchase Price to the undersigned, without
      interest or deduction.

    

    The
      undersigned represents and warrants that it has been advised that the Insider
      Warrants (including the underlying shares of common stock) have not been
      registered under the Securities Act; that it is acquiring the Insider Warrants
      for his account for investment purposes only; that it has no present intention
      of selling or otherwise disposing of the Insider Warrants in violation of the
      securities laws of the United States; that it is an “accredited investor” as
      defined by Rule 501 of Regulation D promulgated under the Securities Act of
      1933, as amended (the “Securities Act”); and that it is familiar with the
      proposed business, management, financial condition and affairs of the
      Corporation.

    

    Moreover,
      the undersigned agrees that it shall not sell or transfer the Insider Warrants
      or any underlying securities until after the Corporation consummates a merger,
      capital stock exchange, asset acquisition or other similar business combination
      with an operating business (“Business Combination”) meeting the requirements set
      forth in the Registration Statement and acknowledges that the certificates
      for
      such Insider Warrants shall contain a legend indicating such restriction on
      transferability. 

    

    The
      Company hereby acknowledges and agrees that in the event the Company calls
      the
      Warrants for redemption pursuant to that certain Warrant Agreement to be entered
      into by the Company and Continental Stock Transfer & Trust Company in
      connection with the Company’s IPO, the Insider Warrants will be exercisable on a
      cashless basis so long as such Insider Warrants are held by the undersigned
      or
      his affiliates.

    

    The
      terms
      of this agreement and the restriction on transfers with respect to the Insider
      Warrants may not be amended without the prior written consent of
      EBC.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	 	Very truly yours,
	 	 
	 	FORTUNE
              MANAGEMENT, INC.
	 
 	 
 	 
 
	 	By:  	/s/
              René
              Müller
	 	
              
Name:
René
              Müller
	 	Title:
              Chief Executive Officer

    

     

    
      	Agreed to:	 	 	 
	 	 	 	 
	Global Alternative Asset
              Management, Inc.	 	 	 
	  	 	 	 
	By:	/s/ Leslie
              A. Brun	 	 	 
	 	
              
Name:
              Leslie A. Brun 	 	 	
            
	 	Title:
              Chief
              Executive Officer	 	 	 

       

      
        	 	 	 	 
	Graubard Miller	 	 	 
	  	 	 	 
	By:	/s/
                David Alan Miller 	 	 	 
	 	
                
Name:
                David Alan Miller	 	 	
              
	 	Title:
                Managing
                Partner	 	 	 

         

        
          	 	 	 	 
	EarlyBirdCapital, Inc.
	 	 	 
	  	 	 	 
	By:	/s/ Steven
                  Levine	 	 	 
	 	
                  
Name:
                  Steven Levine 	 	 	
                
	 	Title:
                  Managing
                  DirectorUnassociated Document

     

    January
      31, 2008

    

    

    

    EarlyBirdCapital,
      Inc.

    275
      Madison Avenue

    New
      York,
      New York 10016

    

    Re:
      Global
      Alternative Asset Management, Inc.

    

    Gentlemen:

    

    This
      letter will confirm the agreement of the undersigned to purchase shares of
      common stock (“Common Stock”) of Global Alternative Asset Management, Inc.
      (“Company”) upon the terms and conditions set forth herein. This letter is
      intended to constitute a “written plan for trading securities” within the
      meaning of Rule l0b5-1 promulgated under the Securities Exchange Act of 1934,
      as
      amended (“Exchange Act”). Notwithstanding anything to the contrary contained
      herein, no purchase may take place if such purchase would violate any United
      States Federal securities law.

    

    The
      undersigned agrees that this letter agreement (which may be evidenced by
      original or facsimile counterpart signatures hereto) constitutes an irrevocable
      order for EarlyBirdCapital, Inc. (“EBC”) or another broker/dealer mutually
      agreed upon by EBC and the undersigned (in any case, the “Broker”) to purchase
      for the undersigned’s account during the period commencing two      business
      days after the Company files a Preliminary Proxy Statement for the acquisition
      of an operating business (herein referred to as a “Business Combination”) and
      ending on the business day immediately preceding the
      record date for the
      meeting of stockholders at which such Business Combination is to be approved
      (such period is hereinafter referred to as the “Purchase Period”) up to
      1,000,000 of shares of Common Stock (“Maximum Stock Purchase”). The undersigned
      further agrees that this letter agreement constitutes an irrevocable limit
      order
      to satisfy the Maximum Stock Purchase at prices not to exceed the per share
      amount held in the Company’s trust account as reported in the Company’s most
      recent Form 10-K, Form 10-Q or Current Report on Form 8-K filed prior to the
      purchase. The undersigned shall deposit the funds necessary to satisfy the
      Maximum Stock Purchase (including through the use of margin) in an account
      designated by the Broker no later than the date the Definitive Agreement is
      signed and agrees to provide to EBC until such time, on a monthly basis,
      statements confirming that the undersigned has sufficient funds necessary to
      satisfy the Maximum Stock Purchase.

    

    The
      Broker agrees to fill such order in such amounts and at such times and prices,
      in accordance with the foregoing instructions, as it may determine, in its
      sole
      discretion, during the Purchase Period, subject to the limitations of Rule
      10b-18 promulgated under the Exchange Act. Accordingly, only purchases permitted
      by Rule 10b-18 will be made, and all purchases shall be executed in the Broker’s
      normal fashion and pursuant to applicable regulation by the SEC and the
      Financial Industry Regulatory Authority. The Broker further agrees that it
      will
      not charge the undersigned any fees and/or commissions with respect to such
      purchases.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      undersigned agrees that it shall not sell or transfer any shares of Common
      Stock
      purchased hereunder until one year after the Company consummates a Business
      Combination and shall vote all such shares in favor of the Business
      Combination.

    

    The
      undersigned understands that it shall be responsible to arrange for any filings
      that may be required under applicable law (e.g., Schedule 13D, and Forms 4
      and
      5). Accordingly, the Broker will provide copies of confirmations of transactions
      pursuant to this letter within 24 hours of each transaction to the undersigned
      and any other designated person to facilitate the undersigned’s reporting
      obligations under applicable law.

    

    The
      undersigned represents and warrants that (i) the undersigned is not presently
      aware of any material nonpublic information regarding the Company or its
      securities and (ii) the undersigned is currently able to enter into this letter
      agreement. The undersigned covenants that the undersigned will not discuss
      or
      otherwise disclose material nonpublic information to the Broker or its personnel
      responsible for carrying out this purchase obligation during the Purchase
      Period.

    

    The
      undersigned may notify the Broker that all or part of the Maximum Stock Purchase
      will be made by an affiliate or affiliates of the undersigned (or other persons
      or entities introduced to the Broker by the undersigned (a “Designee(s)”)) who
      (or which) will have an account at the Broker and, in such event, the Broker
      will make such purchase on behalf of said affiliate(s) or Designee(s); provided,
      however, that the undersigned hereby agrees to make payment of the purchase
      price of such purchases in the event that the affiliate(s) or Designee(s) fail
      to make such payment.

    

    The
      Company is unaware, without any inquiry or responsibility to make any inquiry,
      of any other legal, contractual or regulatory restrictions applicable to the
      undersigned as of the date of hereof that would prohibit the undersigned from
      entering into this letter or making any purchase pursuant to the instructions
      provided herein.

    

    This
      letter agreement shall for all purposes be deemed to be made under and shall
      be
      construed in accordance with the laws of the State of New York, without giving
      effect to conflicts of law principles that would result in the application
      of
      the substantive laws of another jurisdiction. This letter agreement may be
      executed in one or more original or facsimile counterparts, and by the different
      parties hereto in separate counterparts, each of which shall be deemed to be
      an
      original, but all of which taken together shall constitute one and the same
      agreement, and shall become effective when one or more counterparts has been
      signed by each of the parties hereto and delivered to each of the other parties
      hereto.

    

                        
      Very truly yours,

    
 

                        
      Fortune Management, Inc.

    

    

    

    By: 
René
      Müller

                        
      Name: René Müller

                        
      Title: Chief Executive Officer

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ACKNOWLEDGED
      AND AGREED:

    

    Global
      Alternative Asset Management, Inc.

    

    

    By:
      /s/
      Leslie A. Brun

    

    

    EarlyBirdCapital,
      Inc.

    

    

    By:
      /s/
      Steven Levine

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