Document:

Exhibit 10.7

                                                     June 30, 2005

Manhattan Maritime Enterprises, Inc.
645 Fifth Avenue
New York, New York 10022

Ladenburg Thalmann & Co. Inc.
590 Madison Avenue
34th Floor
New York, New York 10022

              Re:    Initial Public Offering
                     -----------------------

Gentlemen:

              The  undersigned  stockholder  and director of Manhattan  Maritime
Enterprises, Inc. ("Company"), in consideration of Ladenburg Thalmann & Co. Inc.
("Ladenburg")  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 12 hereof):

              1.     If the Company  solicits  approval of its stockholders of a
Business Combination,  the undersigned will vote all Insider Shares owned by him
in  accordance  with the  majority  of the votes cast by the  holders of the IPO
Shares.

              2.     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 in or to any  distribution  of the Trust Fund (as
defined in the Letter of Intent) and any  remaining net assets of the Company as
a result of such  liquidation  with respect to his Insider Shares  ("Claim") 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 the Trust Fund for any reason whatsoever.
<PAGE>

Manhattan Maritime Enterprises, Inc.
Ladenburg Thalmann & Co. Inc.
June 30, 2005
Page 2

              3.     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 a
director of the Company,  subject to any pre-existing  fiduciary and contractual
obligations the undersigned might have.

              4.     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 Ladenburg that
the business combination is fair to the Company's  stockholders from a financial
perspective.

              5.     Neither  the  undersigned,  any member of the family of 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 for
their   out-of-pocket   expenses   incurred  in  connection   with  seeking  and
consummating a Business Combination.

              6.     Neither  the  undersigned,  any member of the family of the
undersigned, nor any Affiliate of the undersigned 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 of the undersigned
originates a Business Combination.

              7.     The  undersigned  will  escrow his  Insider  Shares for the
three year period  commencing  on the  Effective  Date subject to the terms of a
Stock Escrow  Agreement  which the Company will enter into with the  undersigned
and an escrow agent acceptable to the Company.

              8.     The  undersigned  agrees to be a  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 and Ladenburg 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 and  Ladenburg  and annexed as Exhibit B hereto is true and accurate
in all respects. The undersigned represents and warrants that:
<PAGE>

Manhattan Maritime Enterprises, Inc.
Ladenburg Thalmann & Co. Inc.
June 30, 2005
Page 3

       (a)    he 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;

       (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.

              9.     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 a Director of the Company.

              10.    The   undersigned   authorizes   any  employer,   financial
institution, or consumer credit reporting agency to release to Ladenburg and its
legal  representatives  or  agents  (including  any  investigative  search  firm
retained by Ladenburg)  any  information  they may have about the  undersigned's
background and finances ("Information").  Neither Ladenburg nor its 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.

              11.    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  Zukerman  Gore &
Brandeis,  LLP 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  and  Ladenburg  and  appoint a
substitute  agent acceptable to each of the Company and Ladenburg 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.
<PAGE>

Manhattan Maritime Enterprises, Inc.
Ladenburg Thalmann & Co. Inc.
June 30, 2005
Page 4

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

                                                     Marc A. Weisman
                                                     -------------------
                                                     Print Name of Insider

                                                     /s/ Marc A. Weisman
                                                     -------------------
                                                     SignatureExhibit 10.8

                                                     June 30, 2005

Manhattan Maritime Enterprises, Inc.
645 Fifth Avenue
New York, New York 10022

Ladenburg Thalmann & Co. Inc.
590 Madison Avenue
34th Floor
New York, New York 10022

              Re:    Initial Public Offering
                     -----------------------

Gentlemen:

              The undersigned director of Manhattan Maritime  Enterprises,  Inc.
("Company"),  in  consideration of Ladenburg  Thalmann & Co. Inc.  ("Ladenburg")
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.

              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 a
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

<PAGE>

Manhattan Maritime Enterprises, Inc.
Ladenburg Thalmann & Co. Inc.
June 30, 2005
Page 2

current  Insider of the Company  unless the Company  obtains an opinion  from an
independent  investment banking firm reasonably acceptable to Ladenburg 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 person or entity that directly,  or indirectly through one
or more intermediaries, controls, or is controlled by, or is common control with
the  undersigned  (each,  an 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 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 of the undersigned 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 of the undersigned
originates a Business Combination.

              6.     The  undersigned  agrees to be a  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 and Ladenburg 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 and  Ladenburg  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,  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

<PAGE>

Manhattan Maritime Enterprises, Inc.
Ladenburg Thalmann & Co. Inc.
June 30, 2005
Page 3

by which he is bound,  to enter  into this  letter  agreement  and to serve as a
Director of the Company.

              8.     The   undersigned   authorizes   any  employer,   financial
institution, or consumer credit reporting agency to release to Ladenburg and its
legal  representatives  or  agents  (including  any  investigative  search  firm
retained by Ladenburg)  any  information  they may have about the  undersigned's
background and finances ("Information").  Neither Ladenburg nor its 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  Zukerman  Gore &
Brandeis,  LLP 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  and  Ladenburg  and  appoint a
substitute  agent acceptable to each of the Company and Ladenburg 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
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.

                                                     Paul S. Rapello
                                                     -------------------
                                                     Print Name of Insider

                                                     /s/ Paul S. Rapello
                                                     -------------------
                                                     Signature

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