Document:

Exhibit
      10.1.1

     

    October
      16, 2006 

    

    Pinpoint
      Advance Corp.

    4
      Maskit
      Street

    Herzeliya,
      Israel 46700 

    

    Maxim
      Group LLC 

    405
      Lexington Avenue 

    New
      York,
      New York 10174 

    

    
      	
            	Re:	
              Pinpoint
                Advance Corp. (the “Company”)

            

    

    

    Gentlemen:
      

    

    The
      undersigned, in consideration of Maxim Group LLC (“Maxim”)
      entering into a letter of intent (the “Letter
      of Intent”)
      to
      underwrite an initial public offering (the “IPO”)
      of the
      securities of the Company and embarking on the IPO process, hereby agrees as
      follows (certain capitalized terms used herein are defined in paragraph XII
      hereof): 

    

    I.    (1)    In
      the
      event the Company fails to consummate a Business Combination within 18 months
      from the effective date (the “Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO) (such later date being the “Termination Date”)),
      the undersigned shall, in accordance with all applicable requirements of the
      Delaware General Corporation Law (the “DGCL”), take all action reasonably within
      his power to dissolve the Company and distribute all funds held in the Trust
      Account to holders of IPO Shares as soon as reasonably practicable following
      the
      approval by the Company’s stockholders of the Company’s dissolution, including,
      without limitation: (i) causing the Company’s board of directors to convene and
      adopt a plan of dissolution and liquidation; (ii) voting, as a director (if
      applicable), in favor of adopting such plan of dissolution and liquidation;
      (iii) following any such adoption by the Company’s board of directors, causing
      the Company to prepare and file a proxy statement with the Securities and
      Exchange Commission (the “SEC”) setting out, and calling for, a vote by the
      Company’s stockholders in favor of the plan of dissolution and liquidation; and
      (iv) voting, as a stockholder, all of the undersigned’s voting securities of the
      Company in favor of any such plan of dissolution and liquidation. 

    

    (2)    If
      the
      Company seeks approval from its stockholders to consummate a Business
      Combination within 90 days of the expiration of 24 months from the Effective
      Date, the undersigned agrees to take all such action reasonably within its
      power
      as is necessary to ensure that the proxy statement related to such Business
      Combination will seek stockholder approval for the plan of dissolution and
      distribution in the event the stockholders do not approve the Business
      Combination. 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    (3)    If
      no
      proxy statement seeking the approval of the stockholders for a Business
      Combination has been filed within 30 days prior to the date which is 24 months
      from the date of the IPO, the undersigned agrees to take, prior to such date,
      all such action reasonably within its power as is necessary to convene and
      adopt
      a plan of dissolution and distribution and file a proxy statement with the
      SEC
      seeking stockholder approval for such plan. 

    

    (4)    Except
      with respect to any of the IPO Shares acquired by the undersigned in connection
      with or following the IPO, the undersigned hereby (a) waives any and all right,
      title, interest or claim of any kind (the “Claim”) in or to all funds in the
      Trust Account and any remaining net assets of the Company upon liquidation
      of
      the Trust Account and dissolution of the Company, (b) 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 (c) agrees the undersigned will
      not
      seek recourse against the Trust Account for any reason whatsoever.

    

    II.    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 (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) 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. 

    

    III.    The
      undersigned acknowledges and agrees 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 which is a member of the National Association of Securities
      Dealers, Inc. and is reasonably acceptable to Maxim that the Business
      Combination is fair to the Company’s stockholders from a financial perspective.

    

    IV.    (1)    Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      of the undersigned (“Affiliate”)
      will
      be entitled to receive, and no such person will accept, any compensation for
      services rendered to the Company prior to the consummation of a Business
      Combination. 

    

    (2)    The
      undersigned shall be entitled to reimbursement from the Company for his
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination. 

    

    V.    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. 

    

    VI.    (1)    The
      undersigned agrees to be a director of the Company until the earlier of the
      consummation of a Business Combination or the dissolution of the Company. The
      undersigned agrees to not resign (or advise the Board that the undersigned
      declines to seek re-election to the Board of Directors) from his position as
      director of the Company as set forth in the Registration Statement without
      the
      prior consent of Maxim until the earlier of the consummation by the Company
      of a
      Business Combination, liquidation of the Trust Account, or the dissolution
      of
      the Company. The undersigned acknowledges the foregoing does not interfere
      with
      or limit in any way the right of the Company to terminate the undersigned’s
      employment at any time (subject to other contractual rights the undersigned
      may
      have) nor confer upon the undersigned any right to continue in the employ of
      Company. 

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    (2)    The
      undersigned’s biographical information furnished to the Company and Maxim 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, as amended. The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above.

    

    (3)    The
      undersigned represents and warrants: 

    

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

    

    VII.    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.

    

    VIII.    The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Maxim and its legal representatives or agents
      (including any investigative search firm retained by Maxim) any information
      they
      may have about the undersigned’s background and finances (“Information”).
      Neither Maxim 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. 

    

    IX.    In
      connection with the vote required to consummate a Business Combination, the
      undersigned agrees that he will vote all shares of common stock owned by him
      (either directly or indirectly) prior to the IPO and the Private Placement
      (the
“Insider
      Shares”),
      if
      any, in accordance with the majority of the votes cast by the holders of the
      IPO
      Shares and all shares of common stock acquired in or following the IPO “for” a
      Business Combination. 

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    X.    The
      undersigned will escrow his Insider Shares, if any, for the period commencing on
      the Effective Date and ending on the earlier of: (i) the third anniversary
      of
      the Effective Date, and (ii) the first anniversary of the completion of a
      Business Combination, 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.

    

    XI.    This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of Delaware, 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 federal courts of the United States of America
      for the District of Delaware, and irrevocably submits to the jurisdiction of
      such courts, which jurisdiction shall be exclusive, (ii) waives any objection
      to
      the exclusive jurisdiction of such courts and any objection that such courts
      represent an inconvenient forum and (iii) irrevocably agrees to appoint National
      Registered Agents, Inc. as agent for the service of process in the State of
      Delaware 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 Maxim and appoint a substitute
      agent acceptable to each of the Company and Maxim 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.

    

    XII.    As
      used
      herein, (i) a “Business
      Combination”
shall
      mean an acquisition by the Company, by merger, capital stock exchange, asset
      or
      stock acquisition, reorganization or otherwise, of an operating business or
      businesses in the business services industry; (ii) “Insiders”
shall
      mean all officers, directors and stockholders of the Company immediately prior
      to the IPO; (iii) “IPO
      Shares”
shall
      mean the shares of Common Stock issued in the Company’s IPO; and (iv)
“Trust
      Account”
shall
      mean the trust account in which most of the proceeds to the Company of the
      IPO
      will be deposited and held for the benefit of the holders of the IPO shares,
      as
      described in greater detail in the prospectus relating to the IPO.

    

    XIII.    This
      letter agreement shall supersede any other letter agreement signed by the
      undersigned with respect to the subject matter hereof. 

    

    [Signature
      Page to Follow]

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	 	 	Very truly yours, 	 
	 	 	 	 
	 	 	/s/
              Adiv Baruch 	 
	 	 	Adiv Baruch 	 

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    [biography]Exhibit
      10.1.2

     

    October
      16, 2006 

    

    Pinpoint
      Advance Corp.

    4
      Maskit
      Street

    Herzeliya,
      Israel 46700 

    

    Maxim
      Group LLC 

    405
      Lexington Avenue 

    New
      York,
      New York 10174 

    

    
      	
            	Re:	
              Pinpoint
                Advance Corp. (the “Company”)

            

    

    

    Gentlemen:
      

    

    The
      undersigned, in consideration of Maxim Group LLC (“Maxim”)
      entering into a letter of intent (the “Letter
      of Intent”)
      to
      underwrite an initial public offering (the “IPO”)
      of the
      securities of the Company and embarking on the IPO process, hereby agrees as
      follows (certain capitalized terms used herein are defined in paragraph XII
      hereof): 

    

    I.    (1)    In
      the
      event the Company fails to consummate a Business Combination within 18 months
      from the effective date (the “Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO) (such later date being the “Termination Date”)),
      the undersigned shall, in accordance with all applicable requirements of the
      Delaware General Corporation Law (the “DGCL”), take all action reasonably within
      his power to dissolve the Company and distribute all funds held in the Trust
      Account to holders of IPO Shares as soon as reasonably practicable following
      the
      approval by the Company’s stockholders of the Company’s dissolution, including,
      without limitation: (i) causing the Company’s board of directors to convene and
      adopt a plan of dissolution and liquidation; (ii) voting, as a director (if
      applicable), in favor of adopting such plan of dissolution and liquidation;
      (iii) following any such adoption by the Company’s board of directors, causing
      the Company to prepare and file a proxy statement with the Securities and
      Exchange Commission (the “SEC”) setting out, and calling for, a vote by the
      Company’s stockholders in favor of the plan of dissolution and liquidation; and
      (iv) voting, as a stockholder, all of the undersigned’s voting securities of the
      Company in favor of any such plan of dissolution and liquidation. 

    

    (2)    If
      the
      Company seeks approval from its stockholders to consummate a Business
      Combination within 90 days of the expiration of 24 months from the Effective
      Date, the undersigned agrees to take all such action reasonably within its
      power
      as is necessary to ensure that the proxy statement related to such Business
      Combination will seek stockholder approval for the plan of dissolution and
      distribution in the event the stockholders do not approve the Business
      Combination. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (3)    If
      no
      proxy statement seeking the approval of the stockholders for a Business
      Combination has been filed within 30 days prior to the date which is 24 months
      from the date of the IPO, the undersigned agrees to take, prior to such date,
      all such action reasonably within its power as is necessary to convene and
      adopt
      a plan of dissolution and distribution and file a proxy statement with the
      SEC
      seeking stockholder approval for such plan. 

    

    (4)    Except
      with respect to any of the IPO Shares acquired by the undersigned in connection
      with or following the IPO, the undersigned hereby (a) waives any and all right,
      title, interest or claim of any kind (the “Claim”) in or to all funds in the
      Trust Account and any remaining net assets of the Company upon liquidation
      of
      the Trust Account and dissolution of the Company, (b) 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 (c) agrees the undersigned will
      not
      seek recourse against the Trust Account for any reason whatsoever.

    

    II.    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 (i) the
      consummation by the Company of a Business Combination, (ii) the dissolution
      of
      the Company or (iii) 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. 

    

    III.    The
      undersigned acknowledges and agrees 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 which is a member of the National Association of Securities
      Dealers, Inc. and is reasonably acceptable to Maxim that the Business
      Combination is fair to the Company’s stockholders from a financial perspective.

    

    IV.    (1)    Neither
      the undersigned, any member of the family of the undersigned, nor any affiliate
      of the undersigned (“Affiliate”)
      will
      be entitled to receive, and no such person will accept, any compensation for
      services rendered to the Company prior to the consummation of a Business
      Combination. 

     

     (2)    The
      undersigned shall be entitled to reimbursement from the Company for his
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination. 

    

    V.    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. 

    

    VI.    (1)    The
      undersigned agrees to be a director of the Company until the earlier of the
      consummation of a Business Combination or the dissolution of the Company. The
      undersigned agrees to not resign (or advise the Board that the undersigned
      declines to seek re-election to the Board of Directors) from his position as
      director of the Company as set forth in the Registration Statement without
      the
      prior consent of Maxim until the earlier of the consummation by the Company
      of a
      Business Combination, liquidation of the Trust Account, or the dissolution
      of
      the Company. The undersigned acknowledges the foregoing does not interfere
      with
      or limit in any way the right of the Company to terminate the undersigned’s
      employment at any time (subject to other contractual rights the undersigned
      may
      have) nor confer upon the undersigned any right to continue in the employ of
      Company. 

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    (2)    The
      undersigned’s biographical information furnished to the Company and Maxim 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, as amended. The
      undersigned’s Questionnaire previously furnished to the Company and Maxim is
      true and accurate in all respects as of the date first written above.

    

    (3)    The
      undersigned represents and warrants: 

    

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

    

    VII.    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.

    

    VIII.    The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to Maxim and its legal representatives or agents
      (including any investigative search firm retained by Maxim) any information
      they
      may have about the undersigned’s background and finances (“Information”).
      Neither Maxim 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. 

    

    IX.      
      In
      connection with the vote required to consummate a Business Combination, the
      undersigned agrees that he will vote all shares of common stock owned by him
      (either directly or indirectly) prior to the IPO and the Private Placement
      (the
“Insider
      Shares”),
      if
      any, in accordance with the majority of the votes cast by the holders of the
      IPO
      Shares and all shares of common stock acquired in or following the IPO “for” a
      Business Combination. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    X.    The
      undersigned will escrow his Insider Shares, if any, for the period commencing
      on
      the Effective Date and ending on the earlier of: (i) the third anniversary
      of
      the Effective Date, and (ii) the first anniversary of the completion of a
      Business Combination, 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.

    

    XI.    This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of Delaware, 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 federal courts of the United States of America
      for the District of Delaware, and irrevocably submits to the jurisdiction of
      such courts, which jurisdiction shall be exclusive, (ii) waives any objection
      to
      the exclusive jurisdiction of such courts and any objection that such courts
      represent an inconvenient forum and (iii) irrevocably agrees to appoint National
      Registered Agents, Inc. as agent for the service of process in the State of
      Delaware 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 Maxim and appoint a substitute
      agent acceptable to each of the Company and Maxim 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.

    

    XII.    As
      used
      herein, (i) a “Business
      Combination”
shall
      mean an acquisition by the Company, by merger, capital stock exchange, asset
      or
      stock acquisition, reorganization or otherwise, of an operating business or
      businesses in the business services industry; (ii) “Insiders”
shall
      mean all officers, directors and stockholders of the Company immediately prior
      to the IPO; (iii) “IPO
      Shares”
shall
      mean the shares of Common Stock issued in the Company’s IPO; and (iv)
“Trust
      Account”
shall
      mean the trust account in which most of the proceeds to the Company of the
      IPO
      will be deposited and held for the benefit of the holders of the IPO shares,
      as
      described in greater detail in the prospectus relating to the IPO.

    

    XIII.    This
      letter agreement shall supersede any other letter agreement signed by the
      undersigned with respect to the subject matter hereof. 

    

    [Signature
      Page to Follow]

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	 	Very truly yours, 	 
	 	 	 	 
	 	 	/s/
              Yoav Schwalb 	 
	 	 	Yoav Schwalb 	 

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    [biography]

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