Document:

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                                                                    Exhibit 10.1

                              ___________ __, 2007

Inter-Atlantic Financial, Inc.
400 Madison Avenue
New York, New York 10017

Morgan Joseph & Co. Inc.
600 Fifth Avenue, 19th Floor
New York, New York 10020

   Re:    Initial Public Offering

Ladies and Gentlemen:

         Morgan Joseph & Co. Inc. ("Morgan Joseph") is acting as sole
bookrunning manager of the initial public offering (the "IPO") of Units
consisting of one share of Common Stock of Inter-Atlantic Financial, Inc. (the
"Company") and one warrant to purchase one share of Common Stock. The
undersigned stockholder, officer and/or director of the Company, in
consideration Morgan Joseph underwriting the Company's IPO, hereby agrees as set
forth below. Certain capitalized terms used herein are defined in Section 1
hereof.

         1. 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, of an operating business in or related to
the financial services industry selected by the Company; (ii) "Founders" shall
mean all stockholders, officers and directors who are stockholders of the
Company immediately prior to the IPO; (iii) "Common Stock" shall mean the
Company's common stock, par value $0.0001 per share, (iv) "Founders' Shares"
shall mean all of the shares of Common Stock of the Company owned by a Founder
prior to the IPO, (v) "IPO Shares" shall mean the shares of Common Stock issued
in the Company's IPO, (vi) "Founders' Warrants" shall mean all warrants to
purchase shares of Common Stock of the Company owned by a Founder prior to the
IPO; (vii) "Locked-Up Securities" shall mean all issued and outstanding
Founders' Shares and Founders' Warrants.

         2. If the Company solicits approval of its stockholders of a Business
Combination, the undersigned will vote (i) all Founders' Shares owned by him or
it in accordance with the majority of the votes cast by the holders of the IPO
Shares and (ii) all other shares of the Company's Common Stock that may be
acquired by him or it in any private placement, the IPO or in the aftermarket
for such Business Combination.

         3. In the event that the Company fails to consummate a Business
Combination by 24 months after the consummation of the IPO (the "Consummation
Date"), the Company's corporate existence shall cease except for the purposes of
winding-up the Company's affair and liquidating the trust account established
under the Investment Management Trust Agreement to be entered into between the
Company and American Stock Transfer & Trust Company (the "Trust Account"), and
the undersigned shall, to the fullest extent permitted by the Delaware General
Corporation Law (the "DGCL"), take all action necessary to dissolve the
Corporation and liquidate the Trust Account to holders of IPO Shares as promptly
as practicable (subject to the requirements of the DGCL).

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The undersigned hereby waives any and all right, title, interest or claim of any
kind ("Claim") to participate in any liquidating distribution of the Trust
Account as part of the Company's plan of distribution with respect to the
Founders' Shares if the Company fails to consummate a Business Combination and
the Trust Account is consequently liquidated 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 acknowledges and agrees
that there will be no distribution from the Trust Account with respect to any
warrants, all rights of which will terminate on the Company's liquidation. The
undersigned agrees to indemnify and hold harmless the Company against any and
all loss, liability, claims, damage and expense whatsoever (including but not
limited to, any and all legal or other expenses reasonably incurred in
investigating, preparing or defending against any litigation, whether pending or
threatened, or any claim whatsoever) which the Company may become subject to (a)
as a result of any claim by any vendor that is owed money by the Company for
services rendered or products sold or (b) as a result of any claim by any
prospective target business but, in each case, only to the extent necessary to
ensure that such loss, liability, claim, damage or expenses does not reduce the
amount in the Trust Account.

         4. Subject to Section 5 below, in order to minimize potential conflicts
of interest which may arise from multiple affiliations, the undersigned agrees
(i) not to become an officer, director or principal shareholder of a blank check
company engaged in business activities similar to those intended to be conducted
by the Company and (ii) to present to the Company for its consideration, and not
to any other person or entity unless the opportunity is rejected by the Company,
those opportunities to acquire an operating business the undersigned reasonably
believes are suitable opportunities for the Company, in each case, until the
earlier of (a) the consummation by the Company of a Business Combination, (b)
the dissolution and liquidation of the Company or (c) until such time as the
undersigned ceases to be an officer or director of the Company, subject to any
fiduciary obligations the undersigned might have.

         5. The undersigned agrees that in the event it becomes aware of, or
involved with any Business Combination opportunities with an enterprise value of
at least 80% of the balance of the Trust Account, the undersigned will first
offer such business opportunities to the Company and further agrees that neither
it nor any of its affiliates will pursue such opportunities unless and until the
Company's Board of Directors determines that it will not pursue such
opportunities (the "Company's Right of First Review"), subject to any fiduciary
obligations the undersigned might have. The Company's Right of First Review will
begin upon the consummation of the IPO and terminate on the earlier of (i) the
consummation by the Company of a Business Combination or (ii) the dissolution
and liquidation of the Company.

         6. 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 Founders, directors and/or officers of the Company or with any
Company that the undersigned has had any discussions, formal or otherwise, with
respect to a Business Combination with another company, prior to the
consummation of the IPO, unless the Company obtains an opinion from an
independent investment banking firm which is a member of the National
Association of Securities Dealers, Inc. that the Business Combination is fair to
the Company's shareholders from a financial perspective.

         7. Neither the undersigned, any member of the family of the
undersigned, nor any affiliate of the undersigned will be entitled to receive
and will not accept any compensation from the Company for services rendered to
the Company prior to the consummation of the Business Combination; provided,
however, that commencing upon the Consummation Date, Inter-Atlantic Management
Services LLC shall be allowed to charge the Company an allocable share of its
overhead, $7,500 per month, to compensate it for office space, administrative
services and secretarial support until the earlier of the Company's consummation
of a Business Combination or its liquidation. The undersigned, and the officers
and directors of the Company, shall also be entitled to reimbursement from the
Company for their out-of-pocket expenses incurred in connection with seeking and
consummating a Business Combination.

         8. The undersigned agrees to be a [director] and/or [officer] of the
Company until the earlier of the consummation by the Company of a Business
Combination. The undersigned hereby consents to being named in the Registration
Statement as a [director] and/or [officer] of the Company. The undersigned's
biographical information furnished to the Company and Morgan Joseph 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

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required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated
under the Securities Act of 1933. The undersigned's Questionnaire previously
furnished to the Company and Morgan Joseph is true and accurate in all respects.
The undersigned represents and warrants that 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;

         (a) 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

         (b) he has never been suspended or expelled from membership in any
         securities or commodities exchange or association or had a securities
         or commodities license or registration denied, suspended or revoked.

         9. The undersigned has full right and power, without violating any
agreement by which he is bound, to enter into this letter agreement and to serve
as an officer and/or director of the Company.

         10. The undersigned authorizes any employer, financial institution, or
consumer credit reporting agency to release to Morgan Joseph and its legal
representatives or agents (including any investigative search firm retained by
Morgan Joseph) any information they may have about the undersigned's background
and finances ("Information"). Neither Morgan Joseph nor its agents shall be
violating the undersigned's right of privacy in any manner in requesting and
obtaining the Information and the undersigned hereby releases them from
liability for any damage whatsoever in that connection.

         11. The undersigned agrees to not to 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 Prospectus without the
prior consent of Morgan Joseph until the earlier of (a) the consummation by the
Company of a Business Combination or (b) the dissolution and liquidation of the
Company. The undersigned acknowledges that 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.

         12. Neither the undersigned, any member of the family of the
undersigned, or any affiliate of the undersigned will be entitled to receive or
accept a finder's fee or any other compensation in the event the undersigned,
any member of the family of the undersigned or any affiliate of the undersigned
originates a Business Combination.

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         13. The undersigned hereby waives his or its right to exercise
redemption rights with respect to any Founders' Shares owned by the undersigned,
directly or indirectly, and agrees that he or she will not seek redemption for
cash with respect to such Founders' Shares in connection with any vote to
approve a Business Combination (as is more fully defined in the Prospectus).

         14. This letter agreement shall be governed by and construed and
enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of
the substantive laws of another jurisdiction. The undersigned hereby (i) agrees
that any action, proceeding or claim against him arising out of or relating in
any way to this letter agreement (a "Proceeding") shall be brought and enforced
in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive, (ii) waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum and
(iii) irrevocably agrees to appoint DLA Piper US LLP as agent for the service of
process in the State of New York to receive, for the undersigned and on his
behalf, service of process in any Proceeding. If for any reason such agent is
unable to act as such, the undersigned will promptly notify the Company and
Morgan Joseph and appoint a substitute agent acceptable to each of the Company
and Morgan Joseph 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.

                                          ---------------------------------
                                          Print Name of Insider

                                          ---------------------------------
                                          Signature<PAGE>

                                                                    Exhibit 10.2

                      INVESTMENT MANAGEMENT TRUST AGREEMENT

     This Agreement is made as of _________ __, 2007 by and between
Inter-Atlantic Financial, Inc. (the "Company") and American Stock Transfer &
Trust Company (the "Trustee").

     WHEREAS, the Company's Registration Statement on Form S-1, as amended, No.
333-140690 (together with any registration statement filed pursuant to Rule
462(b), the "Registration Statement"), for its initial public offering of
securities (the "IPO") has been declared effective as of ____________ __, 2007
by the Securities and Exchange Commission (the "Effective Date"); and

     WHEREAS, Morgan Joseph & Co. Inc. ("Morgan Joseph") is acting as the
representative of the underwriters in the IPO; and

     WHEREAS, as described in the Registration Statement, and in accordance with
the Company's Amended and Restated Certificate of Incorporation, $58,200,000 of
the net proceeds of the IPO and sale of the founders' warrants ($66,750,000 if
the underwriters' over-allotment option is exercised in full) after adjusting
for certain offering expenses, will be delivered to the Trustee to be deposited
and held in a trust account for the benefit of the Company and the holders of
the Company's common stock, par value $0.0001, issued in the IPO. The amount to
be delivered to the Trustee will be referred to herein as the "Property," the
stockholders for whose benefit the Trustee shall hold the Property will be
referred to as the "Public Stockholders," and the Public Stockholders and the
Company will be referred to together as the "Beneficiaries"); and

     WHEREAS, a portion of the Property consists of $1,200,000 (or $1,380,000 if
the underwriters' over-allotment option is exercised in full) attributable to
the underwriters' discount which Morgan Joseph has agreed to deposit in the
Trust Account (as defined below); and

     WHEREAS, the Company and the Trustee desire to enter into this Agreement to
set forth the terms and conditions pursuant to which the Trustee shall hold the
Property;

     IT IS AGREED:

     1. Agreements and Covenants of Trustee. The Trustee hereby agrees and
covenants to:

     (a) Hold the Property in trust for the Beneficiaries in accordance with the
terms of this Agreement in segregated trust accounts (the "Trust Account")
established by the Trustee at a branch of JPMorgan Chase NY Bank selected by the
Trustee;

     (b) Manage, supervise and administer the Trust Account subject to the terms
and conditions set forth herein;

     (c) In a timely manner, upon the written instruction of the Company, to
invest and reinvest the Property in United States "government securities" and/or
in any open ended money market fund(s) selected by the Company meeting the
conditions of Sections (c)(2), (c)(3) and (c)(4) of Rule 2a-7 promulgated under
the Investment Company Act of 1940, as amended, as determined by the Company. As
used herein, "government securities" means any Treasury Bill issued by the
United States, having a maturity of one hundred and eighty days or less;

     (d) Collect and receive, when due, all principal and income arising from
the Property, which income, net of taxes, shall become part of the "Property,"
as such term is used herein; and the remaining income arising from the Property,
up to $1,000,000, net of taxes, may be released to the Company periodically to
fund its working capital requirements as is set forth in Section 2(b) hereof;

     (e) Notify the Company and Morgan Joseph of all communications received by
it with respect to any Property requiring action by the Company;

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     (f) Supply any necessary information or documents as may be requested by
the Company in connection with the Company's preparation of the tax returns
relating to income from the Property in the Trust Account or otherwise;

     (g) Participate in any plan or proceeding for protecting or enforcing any
right or interest arising from the Property if, as and when instructed by the
Company and/or Morgan Joseph in writing to do so;

     (h) Render to the Company and to Morgan Joseph, and to such other person as
the Company may instruct, monthly written statements of the activities of and
amounts in the Trust Account reflecting all receipts and disbursements of the
Trust Account;

     (i) If there is any income or other tax obligation relating to the income
from the Property in the Trust Account as determined by the Company, then, from
time to time, at the written instruction of the Company, the Trustee shall
promptly, to the extent there is not sufficient cash in the Trust Account to pay
such tax obligation, liquidate such assets held in the Trust Account as shall be
designated by the Company in writing, and disburse to the Company by wire
transfer, out of the Property in the Trust Account, the amount indicated by the
Company as owing in respect of such income tax obligation; and

     (j) Commence liquidation of the Trust Account only upon receipt of and only
in accordance with the terms of a letter (the "Termination Letter"), in a form
substantially similar to that attached hereto as either Exhibit A or Exhibit B,
signed on behalf of the Company by its Chief Executive Officer or other
authorized officer, and complete the liquidation of the Trust Account and
distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein.

     (k) Upon one or more written requests from the Company, which may be given
not more than once in any calendar month period, the Trustee shall distribute to
the Company interest earned on the Trust Account, net of taxes payable, up to a
maximum of $1,000,000.  The distributions requested by the Company may be for
any amount, provided that (i) in the aggregate, all distributions under this
Section 1(k) may not exceed $1,000,000, net of taxes payable, and (ii) that such
distributions may only be made if and to the extent that interest has been
earned on the amount initially deposited into the Trust Account.

     2. Limited Distributions of Income From Trust Account.

     (a) If there is any income or other tax obligation relating to the income
from the Property in the Trust Account as determined by the Company, then, at
the written instruction of the Company, the Trustee shall disburse to the
Company by wire transfer, out of the Property in the Trust Account, the amount
indicated by the Company as required to pay income taxes; and

     (b) Upon written request from the Company in a form substantially similar
to that attached hereto as Exhibit C, which may be given not more than once in
any calendar quarter, the Trustee shall distribute to the Company by wire
transfer an amount equal to the income collected on the Property through the
last day of the calendar quarter immediately preceding the date of receipt of
the Company's request; provided, however, that the maximum amount of
distributions that the Company may request and the Trustee shall
distribute pursuant to this Section 2(b) shall be $1,000,000, net of taxes. The
first such permitted distribution shall include income through the first full
calendar quarter following the effective date of the IPO, with the Company's
request made after such date. It is understood that the Trustee's only
responsibility under this section is to follow the instruction of the Company;
and

     (c) Except as provided in Sections 2(a) and 2(b) above, no other
distributions from the Trust Account shall be permitted except in accordance
with Sections 1(d), 1(i), 1(j) and 1(k) hereof.

     3. Agreements and Covenants of the Company. The Company hereby agrees and
covenants to:

     (a) Give all instructions to the Trustee hereunder in writing, signed by
the Company's Chief Executive Officer or other authorized officer. In addition,
except with respect to its duties under Section 1(i) above, the Trustee shall be
entitled to rely on, and shall be protected in relying on, any verbal or
telephonic advice or instruction which it in good faith believes to be given by
any one of the persons authorized above to give written instructions, provided
that the Company shall promptly confirm such instructions in writing;

     (b) Hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or
loss suffered by the Trustee in connection with any action, suit or other
proceeding brought against the Trustee involving any claim, or in connection
with any claim or demand which in any way arises out of or relates to this
Agreement, the services of the Trustee hereunder, or the Property or any income
earned from investment of the Property, except for expenses and losses resulting
from the Trustee's gross

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negligence or willful misconduct. Promptly after the receipt by the Trustee of
notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this
Section, it shall notify the Company in writing of such claim (hereinafter
referred to as the "Indemnified Claim"). The Trustee shall have the right to
conduct and manage the defense against such Indemnified Claim. The Company may
participate in such action with its own counsel; and

     (c) Pay the Trustee an initial acceptance fee, an annual fee and a
transaction processing fee for each disbursement made pursuant to Sections 2(a)
and 2(b) as set forth on Schedule A hereto, which fees shall be subject to
modification by the parties from time to time. It is expressly understood that
the Property shall not be used to pay such fees and further agreed that said
transaction processing fees shall be deducted by the Trustee from the
disbursements made to the Company pursuant to Section 2(b). The Company shall
pay the Trustee the initial acceptance fee and first year's fee at the
consummation of the IPO and thereafter on the anniversary of the Effective Date.
The Trustee shall refund to the Company the annual fee (on a pro rata basis)
with respect to any period after the liquidation of the Trust Fund. The Company
shall not be responsible for any other fees or charges of the Trustee except as
set forth in this Section 3(c) and as may be provided in Section 3(b) hereof (it
being expressly understood that the Property shall not be used to make any
payments to the Trustee under such Sections).

     (d) In connection with any vote of the Company's shareholders regarding a
Business Combination, provide to the Trustee an affidavit or certificate of a
firm regularly engaged in the business of soliciting proxies and tabulating
shareholder votes (which firm may be the Trustee) verifying the vote of the
Company's shareholders regarding such Business Combination.

     4. Limitations of Liability. The Trustee shall have no responsibility or
liability to:

     (a) Take any action with respect to the Property, other than as directed in
Section 1 and Section 2 hereof and the Trustee shall have no liability to any
party except for liability arising out of its own gross negligence or willful
misconduct;

     (b) Institute any proceeding for the collection of any principal and income
arising from, or institute, appear in or defend any proceeding of any kind with
respect to, any of the Property unless and until it shall have received written
instructions from the Company given as provided herein to do so and the Company
shall have advanced or guaranteed to it funds sufficient to pay any expenses
incident thereto;

     (c) Change the investment of any Property, other than in compliance with
Section 1(c);

     (d) Refund any depreciation in principal of any Property;

     (e) Assume that the authority of any person designated by the Company to
give instructions hereunder shall not be continuing unless provided otherwise in
such designation, or unless the Company shall have delivered a written
revocation of such authority to the Trustee;

     (f) The other parties hereto or to anyone else for any action taken or
omitted by it, or any action suffered by it to be taken or omitted, in good
faith and in the exercise of its own best judgment, except for its gross
negligence or willful misconduct. The Trustee may rely conclusively and shall be
protected in acting upon any order, judgment, instruction, notice, demand,
certificate, opinion or advice of counsel (including counsel chosen by the
Trustee), statement, instrument, report or other paper or document (not only as
to its due execution and the validity and effectiveness of its provisions, but
also as to the truth and acceptability of any information therein contained)
which is believed by the Trustee, in good faith, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by
any notice or demand, or any waiver, modification, termination or rescission of
this agreement or any of the terms hereof, unless evidenced by a written
instrument delivered to the Trustee signed by the proper party or parties and,
if the duties or rights of the Trustee are affected, unless it shall give its
prior written consent thereto;

     (g) Verify the correctness of the information set forth in the Registration
Statement or to confirm or assure that any acquisition made by the Company or
any other action taken by it is as contemplated by the Registration Statement;

     (h) Prepare, execute and file such tax reports, income or other tax returns
and pay any taxes with respect to income and activities relating to the Trust
Account, regardless of whether such tax is payable by the Trust Account or the
Company (including but not limited to income tax obligations), it being
expressly understood that as set forth in Section 1(i), if there is any income
or other tax obligation relating to the Trust Account or the Property in the
Trust Account, as determined from time to

<PAGE>

time by the Company and regardless of whether such tax is payable by the Company
or the Trust, at the written instruction of the Company, the Trustee shall make
funds available in cash from the Property in the Trust Account an amount
specified by the Company as owing to the applicable taxing authority, which
amount shall be paid directly to the Company by electronic funds transfer,
account debit or other method of payment, and the Company shall forward such
payment to the taxing authority; and

     (i) Verify calculations, qualify or otherwise approve Company requests for
distributions pursuant to Sections 1(i), 2(a) or 2(b) above.

     5. Termination. This Agreement shall terminate as follows:

     (a) If the Trustee gives written notice to the Company that it desires to
resign under this Agreement, the Company shall use its reasonable efforts to
locate a successor trustee. At such time that the Company notifies the Trustee
that a successor trustee has been appointed by the Company and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the
management of the Trust Account to the successor trustee, including but not
limited to the transfer of copies of the reports and statements relating to the
Trust Account, whereupon the Trustee shall have no further obligations under
this Agreement; provided, however, that, in the event that the Company does not
locate a successor trustee within ninety days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the
Property deposited with the United States District Court for the Southern
District of New York and upon such deposit, the Trustee shall be immune from any
liability; or

     (b) At such time that the Trustee has completed the liquidation of the
Trust Account in accordance with the provisions of Section 1(j) hereof, and
distributed the Property in accordance with the provisions of the Termination
Letter, this Agreement shall terminate except with respect to Section 3(b).

     6. No Right of Set-Off.  The Trustee waives any right of set-off or any
right, title, interest or claim of any kind that the Trustee may have against
the Property held in the Trust Account.  In the event that the Trustee has a
claim against the Company under this Agreement, including without limitation,
under Section 4(b), the Trustee will pursue such claim solely against the
Company and not against the Property held in the Trust Account.

     7. Miscellaneous.

     (a) The Company and the Trustee each acknowledge that the Trustee will
follow the security procedures set forth below with respect to funds transferred
from the Trust Account. Upon receipt of written instructions, the Trustee will
confirm such instructions with an Authorized Individual at an Authorized
Telephone Number listed on the attached Exhibit D.  The Company and the Trustee
will each restrict access to confidential information relating to such security
procedures to authorized persons. Each party must notify the other party
immediately if it has reason to believe unauthorized persons may have obtained
access to such information, or of any change in its authorized personnel. In
executing funds transfers, the Trustee will rely upon account numbers or other
identifying numbers of a beneficiary, beneficiary's bank or intermediary bank,
rather than names. The Trustee shall not be liable for any loss, liability or
expense resulting from any error in an account number or other identifying
number, provided it has accurately transmitted the numbers provided.

     (b) This 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. It may be executed in several
counterparts, each one of which shall constitute an original, and together shall
constitute but one instrument.

     (c) This Agreement contains the entire agreement and understanding of the
parties hereto with respect to the subject matter hereof. This Agreement or any
provision hereof may only be changed, amended or modified by a writing signed by
each of the parties hereto; provided, however, that no such change, amendment or
modification (other than to correct a typographical or similar technical error)
may be made to Sections 1(i), 1(j) and 1(k) hereof without the consent of
95% of the Public Stockholders, it being the specific intention of the parties
hereto that each Public Stockholder is and shall be a third-party beneficiary of
this Section 7(c) with the same right and power to enforce this Section 7(c) as
either of the parties hereto. For purposes of this Section 7(c), the "consent of
95% of the Public Stockholders" shall mean receipt by the Trustee of a
certificate from an entity certifying that (i) such entity regularly engages in
the business of serving as inspector of elections for companies whose securities
are publicly traded, and (ii) either (a) 95% of the Public Stockholders of
record as of a record date established in accordance with Section 213(a) of the
Delaware General Corporation Law, as amended (the "DGCL"), have voted in favor
of such amendment or modification or (b) 95% of the Public Stockholders of
record as of a record date established in accordance with Section 213(b) of the
DGCL has delivered to such entity a signed writing approving such amendment or
modification.

     (d) As to any claim, cross-claim or counterclaim in any way relating to
this Agreement, each party waives the right to trial by jury.

     (e) The parties hereto consent to the jurisdiction and venue of any state
or federal court located in the City of New York, Borough of Manhattan, for
purposes of resolving any disputes hereunder.

     (f) Any notice, consent or request to be given in connection with any of
the terms or provisions of this Agreement shall be in writing and shall be sent
by express mail or similar private courier service, by certified mail (return
receipt requested), by hand delivery or by facsimile transmission:

<PAGE>

if to the Trustee, to:

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer, Vice President
Fax No.: 718-331-1852

if to the Company, to:

Inter-Atlantic Financial, Inc.
400 Madison Avenue
New York, NY 10017
Attn: Andrew Lerner, CEO
Fax No.: [_____________]

in either case with a copy to:

Morrison & Foerster LLP
1290 Avenue of the Americas
New York, New York 10104-0050
Attn: John Hempill, Esq.
Fax: (212) 468-7900

and

Morgan Joseph & Co. Inc.
600 Fifth Avenue, 19th Floor
New York, New York 10020
Attn: Dennis Galgano
Fax No.: (212) 218-3760

and

DLA Piper US LLP
1251 Avenue of the Americas
New York, New York 10020-1104
Attn: William Haddad, Esq.
Fax No.: (212) 835-6001

     (f) This Agreement may not be assigned by the Trustee without the prior
written consent of the Company and Morgan Joseph. This Agreement may be assigned
by the Company to a wholly-owned subsidiary of the Company upon written notice
to the Trustee.

     (g) Each of the Trustee and the Company hereby represents that it has the
full right and power and has been duly authorized to enter into this Agreement
and to perform its respective obligations as contemplated hereunder. The Trustee
acknowledges and agrees that it shall not make any claims or proceed against the
Trust Account, including by way of set-off, and shall not be entitled to part of
the Property under any circumstance.

     (h) The Trustee hereby consents to the inclusion of American Stock Transfer
& Trust Company in the Registration Statement and other materials relating to
the IPO.

                      [Signatures appear on following page]

                                        7

<PAGE>

     IN WITNESS WHEREOF, the parties have duly executed this Investment
Management Trust Agreement as of the date first written above.

                                        AMERICAN STOCK TRANSFER & TRUST COMPANY,
                                        as Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                             -----------------------------------
                                        Title:
                                              ----------------------------------

                                        INTER-ATLANTIC FINANCIAL, INC.

                                        By:
                                            ------------------------------------
                                        Name: Andrew Lerner
                                        Title: Chief Executive Officer

            [Signature Page to Investment Management Trust Agreement]

<PAGE>

                                    EXHIBIT A
                             [LETTERHEAD OF COMPANY]

[INSERT DATE]

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer, Vice President

     Re: Trust Account No. [___] Termination Letter

Gentlemen:

     In accordance with paragraph five of the Amended and Restated Certificate
of Incorporation of the Company, the Business Combination has been approved by
the shareholders of the Company and by the Public Shareholders holding a
majority of the IPO Shares (as defined in the Amended and Restated Certificate
of Incorporation), and Public Shareholders holding less than 30% of the IPO
Shares have voted against the Business Combination and given notice of exercise
of their redemption rights described in paragraph five of the Amended and
Restated Certificate of Incorporation of the Company.  Pursuant to Section 2(e)
of the Trust Agreement, we are providing you with [an affidavit][a certificate]
of _________, which verifies the vote of the Company's shareholders in
connection with the Business Combination.

     Pursuant to Section 1(j) of the Investment Management Trust Agreement
between Inter-Atlantic Financial, Inc. (the "Company") and American Stock
Transfer & Trust Company (the "Trustee"), dated as of ________ __,, 2007 (the
"Trust Agreement"), this is to advise you that the Company has entered into an
agreement ("Business Agreement") with _________ (the "Target Business") to
consummate a business combination with Target Business (a "Business
Combination") on or about [INSERT DATE]. The Company shall notify you at least
48 hours in advance of the actual date of the consummation of the Business
Combination (the "Consummation Date").

     In accordance with the terms of the Trust Agreement, we hereby authorize
you to commence liquidation of the Trust Account to the effect that, on the
Consummation Date, all of funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct
in writing on the Consummation Date.

     On the Consummation Date (i) counsel for the Company shall deliver to you
written notification that the Business Combination has been consummated (ii)
the Company shall deliver to you written instructions with respect to the
transfer of the funds held in the Trust Account (the "Instruction Letter") and
(iii) Morgan Joseph shall deliver to you written instructions for delivery of
the deferred discount to Morgan Joseph. You are hereby directed and authorized
to transfer the funds held in the Trust Account immediately upon your receipt of
the counsel's letter, the Instruction Letter and the written instructions from
Morgan Joseph, (a) to public stockholders who exercised their conversion rights
in connection with the consummation of the Business Combination in an amount
equal to their pro rata share of the amounts in Trust as of two business days
prior to the consummation of the Consummation Date (including the deferred
discount and any income actually received on the Trust balance and held in
Trust, but less an amount equal to estimated taxes that are or will be due on
such income at an assumed rate of 40%); (b) to Morgan Joseph in an amount equal
to the deferred discount as directed by them; and (c) the remainder in
accordance with the terms of the Instruction Letter. In the event that certain
deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company of the same and the Company
shall direct you as to whether such funds should remain in the Trust Account and
distributed after the Consummation Date to the Company. Upon the distribution of
all the funds in the Trust Account pursuant to the terms hereof, the Trust
Agreement shall be terminated.

     In the event that the Business Combination is not consummated on the
Consummation Date described in the notice thereof and we have not notified you
on or before the original Consummation Date of a new Consummation Date, then the
funds held in the Trust Account shall be reinvested as provided in the Trust
Agreement on the business day immediately following the Consummation Date as set
forth in the notice.

                                        Very truly yours,

                                        INTER-ATLANTIC FINANCIAL, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

<PAGE>

                                    EXHIBIT B
                             [LETTERHEAD OF COMPANY]

[INSERT DATE]

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer, Vice President

     Re Trust Account No. [___] Termination Letter

Gentlemen:

     Pursuant to Section 1(i) of the Investment Management Trust Agreement
between Inter-Atlantic Financial, Inc. (the "Company") and American Stock
Transfer & Trust Company (the "Trustee"), dated as of __________ __, 2007 (the
"Trust Agreement"), this is to advise you that Company has been dissolved due to
the Company's inability to effect a business combination within the time frame
specified in the Company's prospectus relating to its initial public offering of
securities.

     In accordance with the terms of the Trust Agreement, we hereby authorize
you to commence liquidation of the Trust Account (as defined in the Trust
Agreement). You will notify the Company and [___] (the "Designated Paying
Agent") in writing as to when all of the funds in the Trust Account (as defined
in the Trust Agreement) will be available for immediate transfer (the "Transfer
Date"). The Designated Paying Agent shall thereafter notify you as to the
account or accounts of the Designated Paying Agent that the funds in the Trust
Account should be transferred to on the Transfer Date so that the Designated
Paying Agent may commence distribution of such funds in accordance with the
Company's instructions. You shall have no obligation to oversee the Designated
Paying Agent's distribution of the funds. Upon the payment to the Designated
Paying Agent of all the funds in the Trust Account, the Trust Agreement shall
terminate in accordance with the terms thereof.

                                        Very truly yours,

                                        INTER-ATLANTIC FINANCIAL, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

<PAGE>

                                    EXHIBIT C
                             [LETTERHEAD OF COMPANY]

[INSERT DATE]
American Stock Transfer & Trust Company

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer, Vice President

     Re  Trust Account No. [___] - Distribution of Income on Property

Gentlemen:

     Pursuant to Section 2(b) of the Investment Management Trust Agreement
between Inter-Atlantic Financial, Inc. (the "Company") and American Stock
Transfer & Trust Company (the "Trustee"), dated as of ___________ __, 2007 (the
"Trust Agreement"), we are requesting for our working capital purposes that you
deliver to us $___ representing income earned on the Property from ___ to ___.
In accordance with the terms of the Trust Agreement, you are hereby directed and
authorized to transfer said amount, less (i) any fees due the Trustee pursuant
to Section 3(c) of the Trust Agreement, and (ii) taxes, the amount of any such
taxes being set forth on the attached tax return or tax statement, immediately
upon your receipt of this letter to the Company's operating account at:

Bank:           [_________]
ABA #:          [_________]
Account Name:   [_________]
Account Number: [_________]
Reference:      Distribution of Income Earned on Trust Property

                                        Very truly yours,

                                        INTER-ATLANTIC FINANCIAL, INC.

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

<PAGE>

EXHIBIT D

<TABLE>
<CAPTION>
AUTHORIZED INDIVIDUAL(S)                            AUTHORIZED
FOR TELEPHONE CALL BACK                        TELEPHONE NUMBER(S)
------------------------                       -------------------
<S>                                            <C>
COMPANY:

Inter-Atlantic Financial, Inc.
400 Madison Avenue
New York, NY 10017                             (212) 581-2000

Attn: Andrew Lerner, Chief Financial Officer

TRUSTEE:

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10004

Attn: Herb Lemmer, Vice President              (718) 921-8209
</TABLE>

<PAGE>

                                   SCHEDULE A
    SCHEDULE OF FEES PURSUANT TO SECTION 3(C) OF INVESTMENT MANAGEMENT TRUST
              AGREEMENT BETWEEN INTER-ATLANTIC FINANCIAL, INC. AND
                     AMERICAN STOCK TRANSFER & TRUST COMPANY

American Stock Transfer & Trust Company will provide Inter-Atlantic Financial,
Inc. with the following services:

<TABLE>
<S>                       <C>
Transfer Agent Services   $1,000.00 per month (flat monthly fee)
Warrant Agent Services    $2,500.00 one-time fee per transaction
Trustee Services          $3,000.00 one-time fee per transaction
Escrow Services           $3,000.00 one-time fee per transaction
Closing Fee               $3,500.00 one-time fee per transaction
</TABLE>

Dated:                , 2007            Agreed:
       ------------ --

                                        ----------------------------------------
                                        Authorized Officer
                                        American Stock Transfer & Trust Co.

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