Document:

Exhibit 10.17

 

STOCKHOLDERS AGREEMENT

 

STOCKHOLDERS AGREEMENT (this “Agreement”), dated as
of September 5, 2007, by and between Duff & Phelps Corporation, a Delaware
corporation (the “Company”), Duff & Phelps Acquisitions, LLC, a Delaware
limited liability company (“DPA”) and Shinsei Bank, Limited, a Japanese
Corporation (the “Stockholder”).

RECITALS

WHEREAS, as part of the transactions contemplated by
the Stock Purchase Agreement, dated as of September 1, 2007 (the “Stock
Purchase Agreement”), by and among the Company, DPA and the Stockholder, the
Stockholder is purchasing from the Company such number of shares of Class A Common
Stock (the “Purchased Common Stock”) equal to approximately 10% of the equity
capital of the Company on a Fully Diluted Basis (as defined herein) as of the
Purchase Closing Date;

WHEREAS, pursuant to the Stock Purchase Agreement,
if the Company shall have not consummated its IPO on or prior to October 31,
2007, the Stockholder shall, instead of purchasing the Purchased Common Stock, purchase
the Note to be issued by DPA, which shall be convertible into DPA Class A
Units, as set forth in the Note;

WHEREAS, pursuant to the Stock Purchase Agreement,
if the Company shall have not consummated its IPO on or prior to October 31,
2008, (i) 50% of the Note Principal Amount will automatically convert into 2,860,096
DPA Class A Units, and (ii) the Note will automatically be exchanged for the
New Note to be issued by DPA, which shall be convertible into 2,860,096 of DPA
Class A Units, as set forth in the Stock Purchase Agreement;

WHEREAS, the Stockholder, DPA and the Company desire
to enter into this Agreement for the purpose of governing certain aspects of
the Stockholder’s relationships with DPA and the Company; and

WHEREAS, it is in the best interests of the Company,
DPA and the Stockholder that such aspects of their relationships be so
governed;

 

 

 

NOW, THEREFORE, in consideration of the premises and
the mutual agreements contained herein and intending to be legally bound the
parties hereto hereby agree as follows:

Section 1.           Definitions.  As used in this Agreement, the following
terms shall have the meanings ascribed to them below:

(a)           “Affiliate”
of any Person means any other Person which direct­ly, or indirectly through one
or more intermediaries, controls, or is controlled by, or is under common
control with, such Person.  The term “control”
(including the terms “controlling,” “controlled by” and “under common control
with”) as used with respect to any Person means the possession, direct or indirect,
of the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities, by contract or
otherwise.  Notwithstanding anything to
the contrary herein or therein, none of (i) the Stockholder (and its Affiliates)
nor (ii) the Company (and its Affiliates) shall be deemed to be an Affiliate of
any other.

(b)           “Aggregate
Purchase Price” means $54,236,250, the total price that Stockholder is going to
pay for the Purchased Common Stock, as set forth in the Stock Purchase
Agreement.

(c)           “Agreement”
has the meaning set forth in the introductory paragraph.

(d)           “Amended
and Restated DPA Securityholders Agreement” means the Amended and Restated
Securityholders Agreement by and among DPA and the other parties thereto, dated
October 31, 2006.

(e)           “Applicable
Laws and Regulations” means, as to any Person, any law, statute, ordinance,
treaty, rule, regulation, right, privilege, qualification, license, order,
judgment, decree, franchise or determination of an arbitrator or a court or
other Governmental Entity or stock exchange, or common law, in each case applicable
or binding upon such Person or any of its property or to which such Person or
any of its property is subject or pertaining to any or all of the transactions
contemplated or referred to herein.

(f)            “Board”
means the entire Board of Directors of the Company.

(g)           “Business
Day” means any day that is not a Saturday or Sunday or a day on which banks are
required or permitted to be closed in the State of New York.

(h)           “Class
A Common Stock” means the Class A common stock par value $0.01 per share, of
the Company.

 

2

 

(i)            “Company”
has the meaning set forth in the introductory paragraph.

(j)            “Company
Sale” means the consummation of a transaction, whether in a single transaction
or a series of related transactions that consummated contemporaneously (or
consummated pursuant to contemporaneous agreements), with any other Person, or
a group of related Persons on an arm’s-length basis, pursuant to which such
Person or group of related Persons (i) acquire (whether by merger, stock
purchase, recapitalization, reorganization, redemption, issuance of capital
stock or otherwise) more than 50% of the outstanding voting securities of the
Company or (ii) acquire assets constituting all or substantially all of the
assets of the Company and its Subsidiaries on a consolidated basis; provided, that in no event shall a Company Sale be deemed to
include any transaction effected for the purpose of (x) changing, directly or
indirectly, the form of organization or the organizational structure of the
Company or any of its Subsidiaries or (y) contributing stock to entities controlled
by the Company.

(k)          
“DPA Class A Units” means Class A Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(l)            “DPA
Class B Units” means Class B Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(m)          “DPA
Class C Units” means Class C Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(n)           “DPA
Class D Units” means Class D Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(o)           “DPA
Class E Units” means Class E Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(p)           “DPA
Class F Units” means Class F Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(q)           “DPA
Class G Units” means Class G Units of DPA, which have the rights, preferences
and terms contained in the DPA LLC Agreement.

(r)            “DPA
LLC Agreement” means the Second Amended and Restated Limited Liability Company
Agreement of DPA, dated as of October 31, 2006.

(s)           “DPA
New Class A Units” means the New Class A Units of DPA  into which the DPA Units are convertible, as
set forth in the Reorganization Agreement.

 

3

 

(t)           
“DPA Units” means, collectively, the DPA Class A Units, the DPA Class B Units,
the DPA Class C Units, the DPA Class D Units, the DPA Class E Units, the DPA
Class F Units and the DPA Class G Units.

(u)           “Equity
Securities” means, (i) any capital stock, membership interest or other share
capital, (ii) any securities directly or indirectly convertible into or
exchangeable for any capital stock, membership interest or other share capital
or containing any profit participation features, (iii) any rights or options directly
or indirectly to subscribe for or to purchase any capital stock, membership
interests, other share capital or securities containing any profit
participation features or to subscribe for or to purchase any securities
directly or indirectly convertible into or exchangeable for any capital stock,
membership interests, other share capital or securities containing any profit
participation features, (iv) any share appreciation rights, phantom share
rights or other similar rights, and (v) any Equity Securities issued or
issuable with respect to the securities referred to in clauses (i) through (iv)
above in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization.

(v)           “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

(w)          “Fully
Diluted Basis” means, as of the Purchase Closing Date,  with respect to the Equity Securities of the
Company 33,767,573 shares of Class A Common Stock to be outstanding as of
immediately after the consummation of the IPO without giving effect to the
underwriters’ exercise of the over-allotment option (which number shall be subject
to proportionate and equitable adjustment for any stock dividends, stock
splits, combinations and similar recapitalizations affecting the Equity
Securities of the Company occurring subsequent to the date hereof), calculated
(i) based on the anticipated size of the IPO, as contemplated in the Preliminary
Prospectus filed in connection with the IPO expected to close prior to October
31, 2007, (ii) assuming a full conversion of the DPA Units into DPA New Class A
Units, as set forth in the Reorganization Agreement, (iii) taking into account
the redemption of certain DPA New Class A Units (but excluding any redemptions
to be made upon the exercise by the underwriters in the IPO of their option to
purchase additional shares of Class A Common Stock to cover over-allotments)
immediately following the consummation of the IPO as set forth in the first
sentence of the second paragraph of the “Use of Proceeds” section of the Preliminary
Prospectus filed in connection with the IPO expected to close prior to October
31, 2007, which “Use of Proceeds” section is attached hereto as Exhibit A, (iv)
assuming a full conversion by all securityholders of the remaining DPA New
Class A Units (other than those to be held by the Company), both vested and
unvested, into shares of Class A Common Stock, as set forth in the
Reorganization Agreement, (v) excluding any shares of restricted stock to be
issued

 

4

in connection with the IPO, and (vi) excluding the shares of Class
A Common Stock underlying any options issued in connection with the IPO.

(x)            “Governmental
Entity” means any national, federal, state, municipal, local, territorial,
foreign or other government or any department, commission, board, bureau,
agency, regulatory authority or instrumentality thereof, or any court,
judicial, administrative or arbitral body or public or private tribunal. For purposes
of this Agreement, Governmental Entity shall include the Financial Services
Agency of Japan.

(y)           “IPO”
means the sale of the Company’s Class A Common Stock in a firm commitment,
underwritten initial public offering registered under the Securities Act.

(z)            “IPO
Registration Statement “ means the Registration Statement on Form S-1 filed
with the SEC on May 23, 2007 (Registration No. 333-143205), as amended to the
date hereof.

(aa)         “Management Committee” means the Management Committee of
DPA, established pursuant to Section 6.2 of the DPA LLC Agreement.

(bb)         “New Note” means the convertible note to be issued by DPA in
exchange for the Note, if the Company shall have not consummated its IPO on or
prior to October 31, 2008, as set forth in the Stock Purchase Agreement.

(cc)         “Note” means the convertible note to be issued by DPA to the
Stockholder, if the Company shall have not consummated its IPO on or prior to
October 31, 2007, as set forth in the Stock Purchase Agreement.

(dd)         “Note Principal Amount” means 50% of the Aggregate Purchase
Price.

(ee)         “own,” “hold” or “held” (and words of similar import), with
respect to any shares of Class A Common Stock, means either held of record or
beneficially owned within the meaning of Rule 13d-3 under the Exchange
Act.

(ff)           “Person” means any individual, sole proprietorship,
partnership, limited liability company, joint venture, trust, incorporated
organization, association, corporation, institution, public benefit corporation,
Governmental Entity or other entity.

(gg)         “Pledge” means pledge, grant a security interest in, create
a lien on, assign the right to receive distributions or proceeds from, or
otherwise encumber, directly or indirectly, or any act of the foregoing.

 

5

(hh)         “Preliminary Prospectus” means the prospectus included in
the IPO Registration Statement on whose cover the per share price range for the
shares of the Class A Common Stock first appears.

(ii)           “Purchase Closing” means the closing of the purchase by
the Stockholder from the Company of the Purchased Common Stock, as set forth in
the Stock Purchase Agreement.

(jj)           “Purchase Closing Date” means the date on which the
Purchase Closing occurs, as set forth in the Stock Purchase Agreement.

(kk)         “Purchased Common Stock” has the meaning set forth in the
Recitals.

(ll)           “Reorganization Agreement” means that certain
Reorganization Agreement, dated as of April 9, 2007, by and among DPA and the
other parties named therein, a copy of which was previously provided to the
Stockholder.

(mm)       “Stock Purchase Agreement” has the meaning set forth in the
Recitals.

(nn)         “Stockholder” has the meaning set forth in the introductory
paragraph.

(oo)         “Subsidiary” means, with respect to any Person, any
corporation, association, trust, limited liability company, partnership, joint venture
or other business association or entity (i) at least 50% of the outstanding
voting securities of which are at the time owned or controlled directly or
indirectly by such Person or (ii) with respect to which such Person possesses,
directly or indirectly, the power to direct or cause the direction of the
affairs or management.

(pp)         “Third Amended and Restated DPA LLC Agreement” has the
meaning set forth in Section 6 hereof.

(qq)         “Third Party” means any Person (other than the Company) that
is a prospective Transferee of Class A Common Stock from the Stockholder.

(rr)           “Transfer”  means
sell, assign, convey, contribute, give, or otherwise transfer, whether directly
or indirectly, or any act of the foregoing, but excludes Pledge or any act of
Pledging. The terms “Transferee,” “Transferor,” and other forms of the word “Transfer”
shall have the correlative meanings.

Section 2.           Standstill.  If the Company shall have consummated its IPO
on or prior to October 31, 2007, the Stockholder agrees that it shall not purchase

 

6

 

any
additional shares of the Class A Common Stock until 18 months after the Purchase
Closing Date; provided, however, that,
notwithstanding the foregoing, the foregoing shall not restrict, limit, prohibit
or prevent (i) the Stockholder from voting its securities at any meeting of the
stockholders or by written consent in lieu thereof in any manner determined by
the Stockholder, (ii) any representative of the Stockholder who serves as a
director, officer or Affiliate of any other company (other than a subsidiary of
the Stockholder) from taking any action or omitting to take any action in his
capacity as a director, officer or Affiliate of such company, or (iii) the Stockholder
from investing in any entity that, prior to contemplation of any such
investment, owns or holds shares of the Class A Common Stock.

Section 3.           Corporate
Governance.

(a)           If the
Company shall have consummated its IPO on or prior to October 31, 2007, then
from and after the consummation of the IPO and for so long as the Stockholder
owns at least 50% of the Purchased Common Stock, the Stockholder will have the
right to designate one non-voting observer to the Company’s board of directors;
provided, that such individual (x) signs
a confidentiality agreement acceptable to the Company, and (y) is reasonably
acceptable to the Company.

(b)           If the
Company shall have not consummated its IPO by October 31, 2007, then from and
after October 31, 2007 and for so long as the Stockholder owns the Note, the
Stockholder shall have the right to designate an individual to serve on the
Management Committee, and such individual shall have the right to serve on each
committee of the Management Committee.

Section 4.           Preemptive
Rights. Prior to the consummation of the Company’s IPO and for all such
times as the Stockholder may hold the Note or the New Note, the Stockholder
shall have the preemptive rights afforded to holders of DPA Class A Units under
Article VI of the Amended and Restated DPA Securityholders Agreement; provided, that, such preemptive rights with respect to the
Note or the New Note, as the case may be, shall be on an as-converted basis,
based on the number of DPA Class A Units into which the full principal amount
of the Note or the New Note, as the case may be, is convertible, each as set
forth in the Stock Purchase Agreement. 
For the avoidance of doubt, the preemptive rights set forth in Article
VI of the Amended and Restated DPA Securityholders Agreement and in this
Section 4 entitle the Stockholder to purchase its portion of the New Securities
(as defined in the Amended and Restated DPA Securityholders Agreement). Nothing
contained herein or therein shall entitle the Stockholder to preemptive rights
with respect to the issuance of additional debt by the Company.

 

7

 

Section 5.           Transfer
by the Stockholder.

(a)           The
Stockholder hereby agrees that it shall not Transfer any shares of Purchased
Common Stock to any Third Party except with the prior written consent of the
Board in its sole discretion; provided, however,
that, subject to Applicable Laws and Regulations, without the consent of the
Board, the Stockholder may Transfer (i) 50% of the Purchased Common Stock from
and after the first anniversary of the Purchase Closing Date, (ii) 75% of the
shares of Purchased Common Stock from and after the date which is 18 months
after the Purchase Closing Date, and (iii) 100% of the Purchased Common Stock
from and after the second anniversary of the Purchase Closing Date.  Notwithstanding the foregoing, the
Stockholder will have the right to Transfer its shares of Purchased Common
Stock to the extent required by Applicable Laws and Regulations, or to fully
comply or cooperate with bank regulatory agencies, including the Financial Services
Agency of Japan. Notwithstanding the foregoing, the Stockholder shall be
permitted to Transfer any or all of the shares of Purchased Common Stock in
connection with a Company Sale.

(b)           The
Stockholder hereby agrees that if (i) the Stockholder enters into or proposes
to enter into any transaction pursuant to which the Stockholder shall Transfer
shares of Purchased Common Stock to any Third Party, and (ii) immediately after
such transaction, the Stockholder shall own less than 50% of the Purchased
Common Stock, it shall notify the Company no later than three Business Days
prior to the closing of such transaction and furnish the Company with a
detailed statement of the circumstances surrounding the transaction.

Section 6.           Third Amended
and Restated DPA LLC Agreement. The Company, DPA and the Stockholder hereby
agree that, if the Company shall have consummated its IPO on or prior to
October 31, 2007, upon the consummation of the Company’s IPO, the DPA LLC
Agreement and the Amended and Restated DPA Securityholders Agreement shall
terminate and have no force, and pursuant to the Reorganization Agreement, the
Company, DPA and the other members of DPA shall enter into the Third Amended
and Restated Limited Liability Agreement of DPA (the “Third Amended and
Restated DPA LLC Agreement”) substantially in the form attached hereto as Exhibit
A.

Section 7.           Amendments
to the DPA LLC Agreement and the Amended and Restated DPA Securityholders Agreement.
The Company, DPA and the Stockholder hereby agree that, if the Company shall
have not consummated its IPO on or prior to October 31, 2007, upon the First
Conversion Closing, both the DPA LLC Agreement and the Amended and Restated DPA
Securityholders Agreement shall be amended. The amendment to the DPA LLC
Agreement shall be substantially in the form attached hereto as Exhibit B and
the amendment to the 

 

8

 

Amended
and Restated DPA Securityholders Agreement shall be substantially in the form
attached hereto as Exhibit C.

Section 8.           Effectiveness
of Agreement; Termination.  Without
affecting any other provision or parties to this Agreement, this Agreement
shall terminate and the rights and obligations of the parties hereto shall have
no force or effect at such time as the Stockholder ceases to beneficially own
any shares of Purchased Common Stock, the Note or the New Note.

Section 9.           Amendments.  The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
except by a written instrument executed by the Stockholder, DPA and the
Company.  This Agreement cannot be
changed, modified, discharged or terminated by oral agreement.

Section 10.         No
Inconsistent Agreement.  Neither the
Company nor the Stockholder shall enter into any agreement with respect to the Class
A Common Stock beneficially owned or held of record by the Stockholder which is
inconsistent with the provisions hereof.

Section 11.         Notices.  All notices, requests, consents and other communications
required or permitted hereunder shall be in writing and shall be hand delivered
or mailed postage prepaid by registered or certified mail or by facsimile
transmission (with immediate telephonic confirmation thereafter),

(c)   If to the Stockholder:

Edward Gilbert

General Manager, Corporate Business
      Solutions Sub-Group

Shinsei Bank, Limited

2-1-8 Uchisaiwaicho 

Chiyoda-ku, Tokyo 100-8501 Japan

Phone: (81)-3-5510-6614

Fax: (81)-3-4560-2846

E-mail:  edward.gilbert@shinseibank.com

with a copy
to (which shall not constitute notice):

 

9

 

        O’Melveny & Myers LLP

Meiji Yasuda Seimei Building, 11th Floor

1-1, Marunouchi 2-chome, Chiyoda-ku 

Tokyo 100-0005 

Attention: Gary Smith and Randy Laxer

Facsimile No.: (81)-3-5293-2780

(d)   If to the
Company or DPA:

Edward S. Forman, Esq.

Executive Vice President, General Counsel and Secretary

Duff & Phelps Corporation

55 East 52nd Street

New York, New York 10158

Phone: (212) 450-2810

Fax: (212) 450-2801

E-mail: edward.forman@duffandphelps.com

 

with a copy to (which shall not constitute notice):

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, NY 10036-6522

Attention: David J. Goldschmidt, Esq.

Facsimile No.: (212) 735-2000

or at such other address as
the Company or the Stockholder each may specify by written notice to the
others, and each such notice, request, consent and other communication shall
for all purposes of the Agreement be treated as being effective or having been
given when delivered if delivered personally, upon receipt of facsimile confirmation
if transmitted by facsimile, or, if sent by mail, at the earlier of its receipt
or 72 hours after the same has been deposited in a regularly maintained
receptacle for the deposit of United States mail, addressed and postage prepaid
as aforesaid.

Section 12.         Successors
and Assigns.   All the terms and
provisions of this Agreement shall be binding upon and inure to the benefit of
and be enforceable by the respective parties hereto, the successors and permitted
assigns of each party hereto and their respective successors of the Company,
whether so expressed or not.

Section 13.         Counterparts;
Effectiveness.  This Agreement may be
executed in any number of counterparts (including by facsimile) and by
different parties hereto in separate counterparts, with the same effect as if
all parties had signed 

 

10

 

the
same document.  All such counterparts
shall be deemed an original, shall be construed together and shall constitute
one and the same instrument.  This
Agreement shall become effective when each party hereto shall have received
counterparts hereof signed by all of the other parties hereto.

Section 14.         Headings.  The headings and other captions in this
Agreement are for convenience and reference only and shall not be used in
interpreting, construing or enforcing any provision of this Agreement.

Section 15.         Governing
Law.  The internal laws, and not the
laws of conflicts (other than Section 5-1401 of the General Obligations Law of
the State of New York), of New York shall govern the enforceability and
validity of this Agreement, the construction of its terms and the
interpretation of the rights and duties of the parties.

Section 16.         Severability.  If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction or
other authority to be invalid, void or unenforceable, the remainder of the
terms, provisions, covenants and restrictions of this Agreement shall remain in
full force and effect and shall in no way be affected, impaired or invalidated
so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party.  Upon such a determination, the parties shall
negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in an acceptable manner in order
that the transactions contemplated hereby be consummated as originally
contemplated to the fullest extent possible.

Section 17.         Entire
Agreement.  This Agreement contains
the entire agreement between the parties hereto with respect to the subject
matter hereof and supersedes and replaces all other prior agreements, written
or oral, among the parties hereto with respect to the subject matter hereof.

Section 18.         Specific
Performance.  Each party hereto, in
addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, will be entitled to specific performance of
its rights under this Agreement.  Each
party hereto hereby agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions
of this Agreement and hereby agrees to waive the defense in any action for
specific performance that a remedy at law would be adequate.

Section 19.         Arbitration.
Except to the extent that the parties hereto shall be entitled to apply to the
courts for mandatory or injunctive relief, any dispute, controversy or claim
arising out of or relating to this Agreement, or the breach, termi-

 

11

 

nation
or validity thereof, shall be settled by arbitration before three arbitrators
in accordance with the then-current International Arbitration Rules of the
American Arbitration Association and judgment upon the reward rendered by the
arbitration may be entered in any court having jurisdiction thereof.  Arbitrators shall be entitled to grant
injunctive relief or order specific performance as well as damages.  Any such arbitration will be held in New
York, New York, USA.  The language of the
arbitration proceedings shall be English. 
The award of the arbitration tribunal shall be final and binding upon
the parties.

Section 20.         Aggregation
of Stock.  All Class A Common Stock
held by or acquired by any Affiliated Person will be aggregated together for
the purpose of determining the availability of any rights under this Agreement.

Section 21.         No Implied
Waivers.  No failure or delay by any
party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof nor shall any single or partial exercise thereof preclude any
other or further exercise thereof or the exercise of any other right, power or
privilege.  The rights and remedies
herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law.

 

[Execution
Page Follows]

 

 

12

 

IN WITNESS WHEREOF, this
Agreement has been duly executed by each of the parties hereto as of the date
first written above.

	
   

  	
   

  	
  DUFF & PHELPS
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Noah Gottdiener

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Noah
  Gottdiener

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  DUFF
  & PHELPS ACQUISITIONS, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Noah Gottdiener

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Noah
  Gottdiener

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SHINSEI
  BANK, LIMITED

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Edward P. Gilbert

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Edward
  P. Gilbert

  
	
   

  	
   

  	
   

  	
  Title:

  	
  General
  Manager

  

 

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Exhibit 10.11  

 
 

SECURITIES ASSIGNMENT AGREEMENT    
    

        This Securities Assignment Agreement (this "Assignment"), dated as of August 30, 2007, is made and entered
into by and among HH-HACI, L.P., a Delaware limited partnership (the "Seller") and the parties identified on the signature page hereto (each
a "Buyer" and collectively, the "Buyers"). 

        WHEREAS, on the terms and subject to the conditions set forth in this Assignment, the Seller wishes to assign (i) an aggregate of
230,000 shares of common stock ("Common Stock") of the Hick Acquisition Company I, Inc. (the
"Company") (the "Shares") and (ii) an aggregate of 230,000 warrants, each warrant entitling the
holders thereof to purchase one share of Common Stock (the "Warrants" and together with the Shares, the
"Securities"), to the Buyers and the Buyers wish to purchase the Securities from the Seller. 

        NOW, THEREFORE, in consideration of the premises, representations, warranties and the
mutual covenants contained in this Assignment, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows: 

        Section 1    Assignment of Securities.    Seller hereby assigns
the Securities to the Buyers, with each Buyer receiving 57,500 shares of Common Stock and 57,500 Warrants. The Buyers have paid to the Seller an aggregate amount of Five Hundred and Seventy Five
Dollars ($575) (the "Purchase Price"), in consideration of the assignment. Within a reasonable time after the date hereof, (i) the Seller shall
deliver to the Company for cancellation the securities representing the Common Stock and Warrants held by the Seller, (ii) the Company shall re-issue to the Seller certificates
representing the Common Stock and Warrants held by the Seller after giving effect to the sale of the Securities to the Buyers and (iii) the Company shall issue and deliver to the Buyers
certificates representing the Securities purchased by the Buyers. 

        Section 2    No Conflicts.    Each party represents and
warrants that neither the execution and delivery of this Assignment by such, nor the consummation or performance by such party of any of transactions contemplated hereby, will with or without notice
or lapse of time, constitute, create or result in a
breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any agreement to which it is a party. 

        Section 3    Investment Representations.    Each Buyer
represents and warrants, with respect to himself only, as follows: Such Buyer hereby acknowledges that an investment in the Securities involves certain significant risks. Such Buyer has no need for
liquidity in its investment in the Securities for the foreseeable future and is able to bear the risk of that investment for an indefinite period. Such Buyer acknowledges and hereby agrees that the
Securities will not be transferable under any circumstances unless the Buyer either registers the Securities in accordance with federal and state securities laws or finds and complies with an
exemption under such laws and such transfer complies with all applicable lock-up restrictions on such Buyer. Such Buyer further understands that any certificates evidencing the Securities
bear a legend referring to the foregoing transfer restrictions. The Securities are being acquired solely for such Buyer's own account, for investment purposes only, and are not being purchased with a
view to or for the resale, distribution, subdivision or fractionalization thereof; and such Buyer has no present plans to enter into any contract, undertaking, agreement or arrangement for such
resale, distribution, subdivision or fractionalization. Such Buyer has been given the opportunity to (i) ask questions of and receive answers from the Seller and the Company concerning the
terms and conditions of the Securities, and the business and financial condition of the Company and (ii) obtain any additional information that the Seller possesses or can acquire without
unreasonable effort or expense that is necessary to assist such Buyer in evaluating the advisability of the purchase of the Securities and an investment in the Company. Such Buyer is not relying on
any oral representation made by any person as to the Company or its operations, financial condition or prospects. Such Buyer is an "accredited investor" as defined in Regulation D promulgated
by the Securities and Exchange Commission under the Securities Act of 1933. 

        Section 4    Miscellaneous.    This Assignment, together with
the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter.
This Assignment may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. This Assignment may not be
amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto. Except as otherwise provided herein, no party hereto may assign either this
Assignment or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. 

IN WITNESS WHEREOF, the undersigned have executed this Assignment to be effective as of the date first set forth above. 

	 	 	HH-HACI, L.P.
	

 	
 	

 	
 	

By:	

HH-HACI GP LLC, its general partner
	

 	
 	

 	
 	

By:	

/s/  JOSEPH B. ARMES      

	 	 	 	 	Name:	Joseph B. Armes

	 	 	 	 	Title:	Authorized Signatory

	

 	
 	

/s/  WILLIAM H. CUNNINGHAM      
 William H. Cunningham
	

 	
 	

/s/  WILLIAM A. MONTGOMERY      
 William A. Montgomery
	

 	
 	

/s/  BRIAN MULRONEY      
 Brian Mulroney
	

 	
 	

/s/  WILLIAM F. QUINN      
 William F. Quinn

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SECURITIES ASSIGNMENT AGREEMENT

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