Document:

Unassociated Document

    February
      16,2007

    

    

    Advanced
      Technology Acquisition Corp.

    14
      A
      Achimeir Street 

    Ramat
      Gan
      52587 Israel

    

    CRT
      Capital Group LLC

    262
      Harbor Drive

    Stamford,
      Connecticut 06902

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned director of Advanced Technology Acquisition Corp. (“Company”), in
      consideration of CRT Capital Group LLC (“CRT”) 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.
      If the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Pre-IPO Shares and IPO Shares beneficially owned
      by it
      in accordance with the majority of the votes cast by the non-affiliated 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 shall take all reasonable
      actions within such person’s power to cause (i) the Company to dissolve and
      liquidate the Trust Account to holders of IPO Shares as soon as reasonably
      practicable, and after approval of the Company's stockholders of a plan of
      dissolution and distribution and subject to the requirements of the Delaware
      General Corporation Law (the “DGCL”), including voting for the adoption of a
      resolution by the Board, prior to such Termination Date, pursuant to Section
      275(a) of the DGCL, which shall deem the dissolution of the Corporation
      advisable and (b) cause to be prepared such notices as are required by said
      Section 275(a) of the DGCL as promptly thereafter as possible, and (ii) vote
      his
      shares in favor of any plan of dissolution and distribution recommended by
      the
      Company's board of directors. The undersigned hereby waives any and all right,
      title, interest or claim of any kind in or to any distribution of the Trust
      Account and any remaining net assets of the Company as a result of such
      liquidation with respect to his Pre-IPO 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 Account for any reason whatsoever. The undersigned hereby agrees
      that
      the Company shall be entitled to a reimbursement from the undersigned for any
      distribution of the Trust Account received by the undersigned in respect of
      such
      person’s Pre-IPO Shares. 

    

    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 initial stockholders unless the Company obtains an opinion from an
      independent investment banking firm that the business combination is fair to
      the
      Company’s stockholders from a financial point of view.

    

    4.
      Neither
      the undersigned, any member of the Immediate Family of the undersigned, nor
      any
      affiliate (“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
      commencing on the Effective Date, LMS Nihul (“Related Party”), shall be allowed
      to charge the Company $10,000 per month, representing an allocable share of
      Related Party’s overhead, to compensate it for the Company’s use of Related
      Party’s offices, utilities and personnel. The undersigned shall also be entitled
      to reimbursement from the Company for its reasonable out-of-pocket expenses
      incurred in connection with the organization of the Company, the IPO, and
      certain activities on behalf of the Company, such as identifying and
      investigating possible targets for our initial Business
      Combination.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.
      Neither the undersigned, any member of the Immediate
      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 Immediate
      Family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination.

    

    6.
      The
      undersigned agrees to serve as a director of the Company and as Chief Technology
      Officer until the earlier of the consummation by the Company of a Business
      Combination or the dissolution and liquidation of the Company. The undersigned’s
      biographical information furnished to the Company and CRT 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 CRT 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.
        If we
        are unable to complete a business combination, and are forced to liquidate
        and
        distribute the proceeds held in trust to our stockholders, certain of our
        executive officers - specifically, the undersigned, Moshe Bar-Niv and Liora
        Lev
        - have agreed, subject to the qualifications and exceptions stated below,
        that
        they will be personally liable, on a joint and several basis, to ensure that
        the
        proceeds in the trust fund are not reduced by claims made by (and only by)
        a
        vendor or service provider for services rendered, or products sold, to us,
        or by
        a prospective acquisition target (each, a “Guaranteed Creditor”). However,
        neither the undersigned, Moshe Bar-Niv nor Liora Lev will have any personal
        liability as to (i) any claimed amounts owed to a Guaranteed Creditor who
        executed a agreement waiving any right, title, claim or interest of any kind
        in
        and to all monies held in the trust, or (ii) as to any claims under our
        indemnity of the underwriters of the Company’s IPO against certain liabilities,
        including liabilities under the Securities Act of 1933, as amended. They
        will
        not be personally liable to pay any of our debts and obligations except as
        described above.

       

    

    8.
      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
      and
      as Chief Technology Officer of the Company.

    

    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 or 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 Corporation Service Company 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 CRT and appoint a substitute agent acceptable to each of the Company and
      CRT
      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 acquisition, stock purchase or other similar
      business combination with a technology or technology-related business that
      has
      operations or facilities located in Israel, or that intends to establish
      operations or facilities in Israel, such as research and development,
      manufacturing or executive offices, following the Company's initial business
      combination with a target business;
      (ii)
“Immediate
      Family” shall mean, with respect to any person, such person’s spouse, lineal
      descendents, father, mother, brothers or sisters (including any such relatives
      by adoption or marriage); (iii) “
      Insiders” shall mean all officers, directors and stockholders of the Company
      immediately prior to the IPO; (iv) “Pre-IPO Shares” shall mean all of the shares
      of Common Stock of the Company owned by an Insider prior to the IPO; and (v)
      “IPO Shares” shall mean the shares of Common Stock issued in the Company’s IPO;
and
      (vi)
“Trust Account” shall mean that certain trust account established with
      Continental Stock Transfer & Trust Company, as trustee, into which the
      Company will deposit the “funds to be held in trust,” as described in the
      Prospectus.

    

    

     

     

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGE FOLLOWS]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	 	 	 	 
	/s/ Yehoshua
              Gleitman	 	 	 
	
              
Dr.
              Yehoshua (Shuki) Gleitman	 	 	
            
	 	 	 	 

    

     

     

    [Signature
      Page to Director and Officer
      Letter]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    INSIDER
      BIOGRAPHY (AS INCLUDED IN S-1)

    

    Dr.
      Yehoshua (Shuki) Gleitman
      has
      served as our director since our inception and as our Chief Technology Officer
      since February 2007. Since August 2000, Dr. Gleitman has served as the Managing
      Partner of Platinum Venture Capital Fund, a venture capital fund investing
      in
      Israeli high technology companies, which he founded. Dr. Gleitman is also the
      Chairman and Chief Executive Officer of Danbar Technology Ltd., an investment
      corporation listed on the Tel Aviv Stock Exchange (TASE), a position he has
      held
      since January 2001. From February 2000 through December 2005, Dr. Gleitman
      was
      the Chief Executive Officer of Shrem, Fudim, Kelner - Technologies Ltd., a
      TASE listed investment corporation, which he co-founded. Prior to that, Dr.
      Gleitman was the Chief Executive Officer of AMPAL Investment Corporation, a
      Nasdaq listed company, from 1997 through 2000, and the Chief Scientist of the
      Israeli Ministry of Industry and Trade from 1992 to 1997. From 1996 to 1997,
      Dr.
      Gleitman was also the Director General of the Ministry. The office of the Chief
      Scientist (OCS), which Dr. Gleitman led, is the division of the Israeli
      Government responsible for setting up and executing the national policy of
      creating and investing into the technology industries in Israel. In addition
      to
      Danbar Technology, Dr. Gleitman currently serves on the board of directors
      of
      the following public traded companies: Capitol Point Ltd., a technology
      incubation company (TASE); Walla Ltd., an Internet portal (TASE); Teuza Ventures
      Ltd., a publicly-traded venture capital firm (TAS); and Mer Telemanagement
      Solutions Ltd., a billing solution company for the telecommunication industry
      (Nasdaq: MTS). Dr. Gleitman holds B.Sc., M.Sc. and Ph.D. degrees in Physical
      Chemistry from the Hebrew University of Jerusalem. Dr. Gleitman is the Honorary
      Consul General of Singapore in Israel since 1998. 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    INSIDER
      D&O QUESTIONNAIREUnassociated Document

    February
      16, 2007

    

    

    Advanced
      Technology Acquisition Corp.

    14
      A
      Achimeir Street 

    Ramat
      Gan
      52587 Israel

    

    CRT
      Capital Group LLC

    262
      Harbor Drive

    Stamford,
      Connecticut 06902

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned officer and director of Advanced Technology Acquisition Corp.
      (“Company”), in consideration of CRT Capital Group LLC (“CRT”) 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.
      If the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Pre-IPO Shares and IPO Shares beneficially owned
      by it
      in accordance with the majority of the votes cast by the non-affiliated 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 shall take all reasonable
      actions within such person’s power to cause (i) the Company to dissolve and
      liquidate the Trust Account to holders of IPO Shares as soon as reasonably
      practicable, and after approval of the Company's stockholders of a plan of
      dissolution and distribution and subject to the requirements of the Delaware
      General Corporation Law (the “DGCL”), including voting for the adoption of a
      resolution by the Board, prior to such Termination Date, pursuant to Section
      275(a) of the DGCL, which shall deem the dissolution of the Corporation
      advisable and (b) cause to be prepared such notices as are required by said
      Section 275(a) of the DGCL as promptly thereafter as possible, and (ii) vote
      his
      shares in favor of any plan of dissolution and distribution recommended by
      the
      Company's board of directors. The undersigned hereby waives any and all right,
      title, interest or claim of any kind in or to any distribution of the Trust
      Account and any remaining net assets of the Company as a result of such
      liquidation with respect to his Pre-IPO 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 Account for any reason whatsoever. The undersigned hereby agrees
      that
      the Company shall be entitled to a reimbursement from the undersigned for any
      distribution of the Trust Account received by the undersigned in respect of
      such
      person’s Pre-IPO Shares. 

    

    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 initial stockholders unless the Company obtains an opinion from an
      independent investment banking firm that the business combination is fair to
      the
      Company’s stockholders from a financial point of view.

    

    4.
      Neither
      the undersigned, any member of the Immediate Family of the undersigned, nor
      any
      affiliate (“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
      commencing on the Effective Date, LMS Nihul (“Related Party”), shall be allowed
      to charge the Company $10,000 per month, representing an allocable share of
      Related Party’s overhead, to compensate it for the Company’s use of Related
      Party’s offices, utilities and personnel. The undersigned shall also be entitled
      to reimbursement from the Company for its reasonable out-of-pocket expenses
      incurred in connection with the organization of the Company, the IPO, and
      certain activities on behalf of the Company, such as identifying and
      investigating possible targets for our initial Business
      Combination.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.
      Neither the undersigned, any member of the Immediate
      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 Immediate
      Family of
      the
      undersigned or any Affiliate of the undersigned originates a Business
      Combination.

    

    6.
      The
      undersigned agrees to serve as a director and as Chief Executive Officer until
      the earlier of the consummation by the Company of a Business Combination or
      the
      dissolution and liquidation of the Company. The undersigned’s biographical
      information furnished to the Company and CRT 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 CRT 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.
        If we
        are unable to complete a business combination, and are forced to liquidate
        and
        distribute the proceeds held in trust to our stockholders, certain of our
        executive officers - specifically, the undersigned, Moshe Bar-Niv and Shuki
        Gleitman - have agreed, subject to the qualifications and exceptions stated
        below, that they will be personally liable, on a joint and several basis,
        to
        ensure that the proceeds in the trust fund are not reduced by claims made
        by
        (and only by) a vendor or service provider for services rendered, or products
        sold, to us, or by a prospective acquisition target (each, a “Guaranteed
        Creditor”). However, neither the undersigned, Moshe Bar-Niv nor Shuki Gleitman
        will have any personal liability as to (i) any claimed amounts owed to a
        Guaranteed Creditor who executed a agreement waiving any right, title, claim
        or
        interest of any kind in and to all monies held in the trust, or (ii) as to
        any
        claims under our indemnity of the underwriters of the Company’s IPO against
        certain liabilities, including liabilities under the Securities Act of 1933,
        as
        amended. They will not be personally liable to pay any of our debts and
        obligations except as described above. 

       

    

    8.
      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
      and
      Chief Executive Officer of the Company.

    

    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 or 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 Corporation Service Company 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 CRT and appoint a substitute agent acceptable to each of the Company and
      CRT
      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 acquisition, stock purchase or other similar
      business combination with a technology or technology-related business that
      has
      operations or facilities located in Israel, or that intends to establish
      operations or facilities in Israel, such as research and development,
      manufacturing or executive offices, following the Company's initial business
      combination with a target business; (ii) “Immediate Family” shall mean, with
      respect to any person, such person’s spouse, lineal descendents, father, mother,
      brothers or sisters (including any such relatives by adoption or marriage);
      (iii) “ Insiders” shall mean all officers, directors and stockholders of the
      Company immediately prior to the IPO; (iv) “Pre-IPO Shares” shall mean all of
      the shares of Common Stock of the Company owned by an Insider prior to the
      IPO;
      and (v) “IPO Shares” shall mean the shares of Common Stock issued in the
      Company’s IPO; and (vi) “Trust Account” shall mean that certain trust account
      established with Continental Stock Transfer & Trust Company, as trustee,
      into which the Company will deposit the “funds to be held in trust,” as
      described in the Prospectus.

    

    

    

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGE FOLLOWS]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	 	 	 	 
	/s/ Liora
              Lev	 	 	 
	
              
Liora
              Lev	 	 	
            
	 	 	 	 

    

    
 

    

     

    [Signature
      Page to Director and Officer
      Letter]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    INSIDER
      BIOGRAPHY (AS INCLUDED IN S-1)

    

    Liora
      Lev
      has
      served as our Chief Executive Officer and director since our inception. Since
      1998, Ms. Lev has served as a General Partner of Ascend Technology Ventures,
      an
      Israel-based venture capital fund which she co-founded, whose investors are
      primarily U.S. investors, including both large institutions as well as
      individuals in the technology industry. As a General Partner, Ms. Lev plays
      an
      active role as a lead investor and a board member with various portfolio
      companies. Prior to 1998, Ms. Lev served in executive positions for a number
      of
      Israeli companies, including as Corporate Chief Financial Officer of Ashtrom
      Group Ltd., one of the largest private development and manufacturing groups
      based in Israel with major international projects, and as Chief Financial
      Officer of M.L.I. Lasers Ltd., a laser technology company. From 1994 through
      2000, Ms. Lev served as a Commissioner of the Israeli Securities Authorities.
      She also served as a member of the Accounting Standard Board. Ms. Lev serves
      on
      the board of directors of: Can Fite BioPharma Ltd. (TASE: "CFBI"), a
      biopharmaceutical company; and of several private companies including: Sintec
      Media Ltd., a broadcast management systems company; and Intellinx Ltd., an
      insider threat intelligence solutions company, of which Ms. Lev is Chairman
      of
      the Board. Ms. Lev is a CPA, holds dual Bachelors degrees in Accounting and
      Economics and a Masters of Management Science, specializing in information
      systems management from Tel Aviv University. She is also a graduate of Harvard
      Business School's Advanced Management Program. 

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    INSIDER
      D&O QUESTIONNAIRE

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