Document:

Third Loan and Security Agreement Modification and Extension Agreement

 Exhibit 10.1 
 THIS DOCUMENT PREPARED BY: 
 Leslie A. Lewis, Esq. 
 Lewis & Crichton 
 Post Office Box 1119 
 Winter Park, Florida 32790 
 Third Loan and Security Agreement Modification and Extension Agreement 
 THIS Third Loan and Security Agreement Modification and Extension Agreement is executed this
31st day of October, 2007 by borrower, ACTION PRODUCTS INTERNATIONAL, INC., a Florida corporation, with its address at 1101 North Keller Road, Suite E,
Orlando, Florida 32810, (hereinafter sometimes referred to as Borrower) and REGIONS BANK, successor in interest by merger to AmSouth Bank, a bank organized under the laws of Alabama, whose address is 13535 Feathersound Drive, Building 1—Suite
525, Clearwater, Florida 33762, (hereinafter referred to as Regions). 
 W  I  T  N  E  S  S  E  T  H 
 WHEREAS, on September 2, 2005, ACTION PRODUCTS INTERNATIONAL, INC. executed a Revolving Promissory Note in favor of AmSouth Bank in the principal sum of $3,000,000.00 (the “$3,000,000.00 Note”); 
 WHEREAS, on September 6, 2005, ACTION PRODUCTS INTERNATIONAL, INC. executed a Revolving Line of Credit Loan and Security Agreement in favor of
AmSouth Bank; 
 WHEREAS, on September 14, 2005, ACTION PRODUCTS INTERNATIONAL, INC. executed a UCC-1 regarding the accounts
receivables, inventory, general intangibles, machinery, equipment and other personal property as additional security for the debt of ACTION PRODUCTS INTERNATIONAL, INC., which was recorded with the Florida Secretary of State, file number
200500676214; 
 WHEREAS, on September 6, 2005, ACTION PRODUCTS INTERNATIONAL, INC. executed an Agreement Not To Encumber or Transfer
Property regarding certain real estate owned by the Borrower, which such agreement is recorded at Official Records Book 4177, Page 1373 of the Public Records of Marion County, Florida. 
 WHEREAS, the preceding September 2005 loan documents were executed outside the State of Florida and no documentary or intangible tax was paid by ACTION
PRODUCTS INTERNATIONAL, INC. for the $3,000,000.00 Note. 
 WHEREAS Effective October 31, 2006, ACTION PRODUCTS INTERNATIONAL, INC and
AmSouth executed a Loan and Security Agreement Modification and Extension Agreement which extended the maturity on the $3,000,000.00 Note until March 31, 2007. 
 WHEREAS, the Loan and Security Agreement Modification and Extension Agreement documents were executed outside the State of Florida and no documentary or intangible tax was paid by ACTION PRODUCTS INTERNATIONAL, INC.
for the remaining balance due on the $3,000,000.00 Note. 
  

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 WHEREAS on or about November 6, 2006 REGIONS BANK, (“Regions”) became the successor in
interest by merger to the interests of AmSouth Bank in the subject loan; 
 WHEREAS, Regions extended the maturity of the loan until
April 30, 2007 by letter agreement; 
 WHEREAS, Effective April 30, 2007 ACTION PRODUCTS INTERNATIONAL, INC., and Regions executed
a Second Loan and Security Agreement Modification and Extension Agreement which extended the maturity on the $3,000,000.00 Note until October 31, 2007. 
 WHEREAS, the Second Loan and Security Agreement Modification and Extension Agreement documents were executed outside the State of Florida and no documentary or intangible tax was paid by ACTION PRODUCTS INTERNATIONAL,
INC. for the remaining balance due on the $3,000,000.00 Note. 
 WHEREAS, Regions is owner and holder of said note and security instruments,
on which Borrower has requested another extension of the maturity date. 
 WHEREAS Regions is willing to grant borrower an extension of the
maturity date in consideration for Borrower agreeing to maintain current loan payments, paying Regions an Extension Fee, securing a portion of the remaining principal balance on the $3,000,000.00 Note by real estate collateral, paying Regions’
out of pocket fees and costs for this Agreement, paying the loan in full at the expiration of the new Maturity Date on May 31, 2008, and other agreements as set forth hereinbelow. 
 WHEREAS Regions and Borrower agree that the loan be modified as set forth hereinbelow; and 
 NOW THEREFORE, in consideration of the premises, the mutual benefits to be derived from this Third Loan and Security Modification and Extension
Agreement, and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereby mutually agree as follows: 
 A. Recitals. The above recitals are true and correct and are incorporated herein by reference. 
 B. Principal
Balance. The outstanding principal balance under this revolving loan may change daily. The principal balance on October 23, 2007 was $1,843,187.00. 
 C. Extension Fee. A $10,000.00 Extension Fee is due to Regions upon the signing and delivery of this Agreement. Borrower’s failure to pay the Extension Fee upon execution and delivery of this Agreement
shall cause Regions to withdraw its offer to enter into this Agreement. 
 D. Decreased Line of Credit. The $3,000,000.00 Note is
hereby modified so that the maximum available under the revolving line of credit is $2,000,000.00 (the “$2,000,000.00 Note”). 
 E.
Term. The term of the $2,000,000.00 Note shall be changed. The $2,000,000.00 Note shall mature on May 31, 2008 (the “Maturity Date”) at which time all sums due under the loan and Note shall be due and payable to Regions.

 F. Interest Provision. The interest provision of the Note shall remain at Prime plus 150 basis points. This is a variable rate
adjusting each time a change in the Prime Rate occurs. 
  

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 G. Monthly Reporting. It remains a material covenant of this Agreement that the Borrower continue
to send Regions its ‘Monthly Borrowing Base Report’ on the approved Regions Bank form and its monthly ‘Accounts Receivable Aging Report’. The initial reports under this Agreement shall have an effective date of October 31,
2007 and be due to Regions no later than 10 days thereafter. 
 H. Default Rate of Interest. The modified loan and all sums due
hereunder shall bear interest from the date when due (without any prior notice from Regions to Borrower), whether by lapse of time or on acceleration, and also after any judgment which may be entered against Borrower and in favor of Regions, at the
Default Rate (as hereinafter defined) until paid. The Default Rate shall be a rate of interest equal to the highest rate allowed by law until paid. In the event of default, the interest rate shall be the highest legal rate allowed by law, applied
retroactively to all past due payments for which Regions forbeared on its right to collect default interest. 
 I. Additional
Collateral. It is a material covenant of this Agreement that the Borrower pledge and mortgage its commercial real estate warehouse located at 344 Cypress Road, Silver Springs Shores, Florida as additional collateral for the $2,000,000.00 Note. A
mortgage securing the amount of $1,500,000.00 will be executed by Borrower and delivered on even date herewith (the “Mortgage”). If Borrower fails to execute and deliver the Mortgage on even date herewith, Regions withdraws its offer to
make this agreement and the agreement herein to extend and modify the loan is rescinded. 
 J. Remedies upon Default. If an Event of
Default shall occur Regions may, at its option, exercise any, some or all of the following remedies, concurrently or consecutively: 
  

	 	1.	Acceleration. Declare the unpaid portion of the indebtedness to be immediately due and payable, without further notice or demand (each of which hereby is expressly waived by
Borrower), whereupon the indebtedness shall become immediately due and payable, anything in the loan documents to the contrary notwithstanding. 

  

	 	2.	 Remedies as to Personal Property. Regions may exercise any or all of its rights and remedies under the Uniform Commercial Code of the state of Florida as all
other rights and remedies possessed by Regions, all of which shall be cumulative. Regions hereby is authorized and empowered to enter the business location of the Borrower or other place where the Personal Property may be located without legal
process, and take possession of the Personal Property without notice or demand which hereby are waived. Whenever Borrower is in default hereunder, and upon demand by Regions, Borrower shall make the Personal Property available to Regions at a place
reasonably convenient to Regions. Regions may waive any default or Event of Default before or after that default or Event of Default has been declared, without impairing its right to declare a subsequent default or Event of Default hereunder, this
right being a continuing one. Regions, with notice may sell at one or more public or private sales, without further notice, and for such price as Regions may deem fair, any and all of the Personal Property secured by the Security Agreements, and any
other security or property held by the Regions. Regions may be the purchaser of any or all of the Personal Property and may hold the Personal Property thereafter in its own right absolutely, free from any claims of Borrower or right of 

  

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redemption. It is expressly agreed in accordance with the provisions of the Florida Uniform Commercial Code, fifteen (15) days notice by Regions to
Borrower shall be deemed to be reasonable notice under any provision of the Florida Uniform Commercial Code requiring such notice; provided, that Regions may at its option dispose of the collateral in accordance with Regions’s rights and
remedies in respect to the real property pursuant to the provisions in this Agreement, in lieu of proceeding under the Florida Uniform Commercial Code. 

  

	 	3.	Remedies as to Real Property. Borrower is executing and delivering a Mortgage to Regions on even date herewith to secure $1,500,000.00 of the principal balance remaining on
the loan. Regions may avail itself of all legal and equitable rights as provided in said Mortgage and pursuant to Florida Statutes. 

  

	 	4.	Remedies Cumulative and Concurrent. The rights and remedies of Regions as provided in the loan documents, shall be cumulative and concurrent and may be pursued separately,
successively or against Borrower, any collateral, or any one or more of them, at the sole discretion of Regions, and may be exercised as often as occasion therefore shall arise, all to the maximum extent permitted by the laws of the state of
Florida. If Regions elects to proceed under one right or remedy under any of the loan documents Regions may at any time cease proceeding under such right or remedy and proceed under any other right or remedy under the loan documents. The failure to
exercise any such right or remedy shall in no event be construed as a waiver or release thereof. 

  

	 	5.	No Conditions Precedent to Exercise of Remedies. Neither Borrower, nor any other person now or hereafter obligated for payment of all or any part of the Indebtedness shall be
relieved of such obligation by reason of the failure of Regions to comply with any request of Borrower or of any other person so obligated to take action to enforce any provisions of the loan documents, or by reason of the release, regardless of
consideration, of all or any part of the collateral, or by reason of any agreement or stipulation between any subsequent owner of the collateral and Regions extending the time of payment or modifying the terms of the loan documents without first
having obtained the consent of Borrower; and in the latter event Borrower and all such other persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement, unless expressly released and
discharged in writing by Regions. 

  

	 	6.	Release of Collateral, Effect on Subordinate Liens. Regions may release, regardless of consideration, any part of the collateral, or obligations without, as to the remainder
of the security, in any way impairing or affecting Regions’s lien or their priority over any subordinate lien. The holder of any subordinate lien by the acceptance of such subordinate lien agrees to be bound by the terms of this paragraph.

  

	 	7.	Other Collateral. For payment of the indebtedness, Regions may resort to any other security therefore, if any, held by Regions in such order and manner as Regions may elect
without affecting its remedies under the loan documents, to the maximum extent permitted by the laws of the state of the State of Florida. 

  

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	 	8.	Discontinuance of Proceedings. In case Regions shall have proceeded to enforce any right under the loan documents and such proceedings shall have been discontinued or
abandoned for any reason, then in every such case Borrower and Regions shall be restored to their former positions and the rights, remedies and powers or Regions shall continue as if no such proceedings had been instituted. Borrower shall be and
remain liable to Regions for any deficiency to the extent permitted by the laws of the State of Florida. 

 K. Priority.
Borrower warrants and represents to Regions that its lien continues with the same priority upon the property described therein and that there are no junior or other subsequent liens or rights or claims of lien outstanding against the collateral,
except the lien of Regions and the lien of Greater Bay Bank as purchase money creditor for a forklift of the Borrower. 
 L.
Performance-Observance. Borrower covenants and agrees that it will perform and observe all the covenants, agreements, stipulations, and conditions on the part of the Borrower contained in the loan documents as modified by this Agreement.

 M. Ratification. Except as expressly modified herein, the loan documents as modified and all terms, provisions, covenants,
conditions, agreements, obligations, and stipulations are and shall remain unchanged and in full force and effect. 
 N. No Defenses.
Borrower (“Releasor”) is indebted and obligated to Lender according to the terms, conditions, purpose, and intent of the loan documents as modified by this Agreement; and Releasor represents to Lender, by its execution and delivery hereof,
that it has no defense, setoff or counterclaim with respect any note or other loan document as modified by this Agreement. Additionally, that the Releasor does hereby remise, release, acquit, satisfy, and forever discharge Regions Bank, its
officers, agents and directors, of and from all manner of action and actions, cause and causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, executions, claims and demands whatsoever, in law or in equity, which Releasor ever had, now has, or which any successor or assign of Releasor hereafter can, shall or may have, against Regions Bank its
officers, agents and directors for, upon or by reason of any matter, cause or thing, whatsoever, from the beginning of the world to the day of these presents as arising from any and all dealings between the Releasor and Regions Bank, its officers,
agents and directors, with regard to the loan referenced in this Agreement. This release is effective for all actions of the parties from the beginning of the world until the execution of this agreement. 
 O. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the respective parties hereto, and their respective
successors and assigns. 
 P. Payment of Costs. Borrower shall pay all costs of the Agreement made hereby, to include without
limitation Lender’s attorney’s fees and costs. Such costs shall be due as defined herein. The payment thereof shall be a condition precedent to Lender’s duties hereunder, and failure to make such payment shall be a default under this
loan. If Borrower fails to pay Regions’ legal fees and costs, Regions shall withdraw its offer to make this agreement and the agreement herein to extend and modify the loan shall be rescinded. 
  

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 Q. Novation. It is the intent of the parties that this instrument shall not constitute a novation
and shall in no way adversely effect the lien priority of the security instruments, and shall in no way release Borrower from liability under same. In the event that this Agreement, or any part hereof, shall be construed by a court of competent
jurisdiction as operating to affect the lien priority of the loan documents over the claims which would otherwise be subordinate thereto, then to the extent that third persons acquiring an interest in such property as is encumbered by the loan
documents between the time of execution of this Agreement, or such portion hereof as shall be so construed, shall be void and of no force and effect and this Agreement shall constitute, as to that portion, a subordinate lien on the collateral
described therein, incorporating by reference the terms of the loan documents, and which loan documents then shall be enforced pursuant to the terms therein contained, independent of this Agreement; provided, however, that notwithstanding the
foregoing, the parties hereto, as between themselves, shall be bound by all terms and conditions hereof until all indebtedness owing from Borrower to Regions shall have been paid in full. 
 R. WAIVER OF RIGHT TO JURY TRIAL. THE BORROWER AND REGIONS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A
TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER DOCUMENT CONTEMPLATED TO BE EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR REGIONS ENTERING INTO THIS AGREEMENT. 
 S. Notices. All notices required or permitted hereunder shall be in writing and shall be served on the parties at the addresses set forth below. Any such notices shall be either (a) sent by overnight delivery using a nationally
recognized overnight courier, in which case notice shall be deemed delivered one (1) business day after such notice is deposited with such courier, or (b) sent by personal delivery, in which case notice shall be deemed delivered upon
receipt or refusal of delivery of such notice. A party’s address may be changed by written notice to the other party; provided, however, that no notice of a change of address shall be effective until actually received by the recipient thereof.

 T. Additional Provisions. The following matters are hereby added: 
  

	 	a.	The individual executing this Agreement is duly authorized and empowered to do so. 

  

	 	b.	Borrower has all requisite power and authority to execute and deliver this Agreement and to carry out the transactions contemplated thereby and the covenants and agreements
contained therein. 

  

	 	c.	There is no provision in this Agreement or any of the loan documents and there is no provision or term of any security instrument, indenture, lease, agreement license, permit,
judgment, decree, order, statute, ordinance, rule or regulation to which the parties hereto are subject or bound that would impair the power of Borrower to enter into and carry out the undertakings required under this Agreement and the loan
documents. 

  

	 	d.	There are no outstanding judgments against Borrower nor are there any judicial actions pending or, to the best of our knowledge, threatened against Borrower.

  

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	 	e.	Borrower specifically reaffirms and confirms the debt as outlined in this Agreement under all loans and notes to Regions Bank and agrees to the principal balance due and owing to
Regions stated under this Agreement. 

  

	 	f.	Borrower agrees to keep all business and personal financial books and records in accordance with generally accepted accounting principals. 

  

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 U. Miscellaneous. 
  

	 	(a)	Paragraph headings used herein are for convenience only and shall not be construed as controlling the scope of any provision hereof. 

  

	 	(b)	This Agreement shall be governed by and construed in accordance with the laws of the State of Florida and of the United States of America and the rules and regulations promulgated
under the authority thereof. 

  

	 	(c)	That if at any time the United States of America or the State of Florida or other governmental authority in Florida shall require additional documentary stamps to be affixed to
either Note or intangible personal property tax to be paid in connection therewith, the Borrower will pay for the same with any interest or penalties imposed in connection therewith and hereby indemnifies Regions Bank against any damages associated
with Borrower’s failure to timely pay same. 

  

	 	(d)	Time is of the essence of this Agreement. 

  

	 	(e)	As used herein, the neuter gender shall include the masculine and feminine genders, and vice versa, and the singular the plural, and vice versa, as the context demands.

  

	 	(f)	All costs incurred by Lender in enforcing this Agreement and in collection of sums due Lender from Borrower to include, without limitation, reasonable attorney’s fees through
all trials, appeals and proceedings, to include, without limitation, any proceedings pursuant to the bankruptcy laws of the United States, shall be paid by Borrower and further shall be secured by the property encumbered by this loan. Legal fees are
payable upon demand. Failure to pay such fees upon demand shall constitute an event default. 

  

	 	(g)	In the event any provision of this Agreement conflicts with applicable law, such conflict shall not affect other provisions of this Agreement or with any of the Loan Documents; to
this end, the provisions of this Agreement and all provisions of the Loan Documents are declared to be severable. 

  

	 	(h)	This Agreement may be signed in counterparts. 

  

	 	(i)	In the event any provision of this Agreement conflicts with any of the prior Loan Documents, this Agreement shall prevail. 

  

	 	(j)	The parties hereto acknowledge that while Lender’s counsel, Leslie A. Lewis, Esq. prepared this Agreement, that the Borrower has had the opportunity to seek the advice and
counsel of independent counsel and that as such, in any interpretation of the Agreement, any ambiguity shall not be resolved in favor of the borrower based upon the Agreement having been initially drafted by Lender’s counsel.

 {THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK} 
  

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

									
	 Witnesses:
	 		 		 	Action Products International, Inc., a Florida corporation
				
	 /s/
	 		 	 By:
	 	 /s/ RONALD S. KAPLAN

	 Print Name:
	 	  
	 		 	 Name:
	 	Ronald Kaplan
		 		 		 	 Title:
	 	Chief Executive Officer
				
	 /s/
	 		 		 	
	 Print Name:
	 	  
	 		 		 	

 STATE OF FLORIDA 
 COUNTY OF ORANGE 
 The foregoing instrument was executed and acknowledged
before me this 31st day of October, 2007 by Ronald Kaplan, as Chief Executive Officer of Action Products International, Inc., a Florida corporation, who is
personally known to me or has produced                          as identification. 
  

	
	 /s/

	 Notary Public.

  

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 REGIONS  
  

			
	REGIONS BANK, a bank organized under the laws of Alabama,
		
	 By:
	 	 /s/ REBECCA S. WEST

		 	Rebecca S. West, its Vice-President

 STATE OF FLORIDA 
 COUNTY OF PINELLAS 
 The foregoing instrument was executed and acknowledged
before me this 31st day of October, 2007 by Rebecca S. West as Vice-President of Regions Bank, who is personally known to me or has produced
                         as identification. 
  

	
	 /s/

	 Notary Public

  

 Page 10Exhibit 10.1

 Exhibit 10.1 
 November 1, 2007 
 Capitol Acquisition Corp. 
 509 7th Street, N.W.

 Washington, D.C. 20004 
 Citigroup Global Markets Inc.

 388 Greenwich Street 
 New York, New York 10013 
  

	 	Re:	Initial Public Offering 

 Gentlemen: 
 This letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by
and between Capitol Acquisition Corp., a Delaware corporation (the “Company”), and Citigroup Global Markets Inc., as Representative (the “Representative”) of the several Underwriters named in Schedule
I thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”) of the Company’s units (the “Units”), each comprised of one share of the
Company’s common stock, par value $0.0001 per share (the “Common Stock”), and one warrant, each warrant exercisable for one share of Common Stock (each, a “Warrant”). Certain capitalized terms
used herein are defined in paragraph 15 hereof. 
 In order to induce the Company and the Underwriters to enter into the Underwriting
Agreement and to proceed with the IPO, and in recognition of the benefit that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows: 
 1. If the Company solicits approval of its stockholders of a
Business Combination, the undersigned will (i) vote all shares of Founders’ Common Stock beneficially owned by him, her or it in accordance with the majority of the votes cast by the holders of the IPO Shares and (ii) vote all other
shares of the Company’s Common Stock that may be beneficially acquired by him, her or it in the IPO, any private placement or in the aftermarket in favor of such Business Combination. 

 2. In the event that the Company fails to consummate a Business Combination within 24 months from the
effective date (“Effective Date”) of the registration statement relating to the IPO, the undersigned will, as promptly as possible, (i) cause the Trust Fund to be liquidated and distributed to the holders of IPO Shares and
(ii) cause the Company to liquidate as soon as reasonably practicable. The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining net assets of the Company
as a result of such liquidation with respect to his shares of Founders’ Common Stock (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the
Company and will not seek recourse against the Trust Fund for any reason whatsoever. In the event of the liquidation of the Trust Fund, 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 as a result of any claim by any vendor or other person who is owed money by the Company for services rendered or products sold or contracted for, or by any target business, but only to the extent necessary to ensure that
such loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Fund; provided that such indemnity shall not apply (i) if such vendor or prospective target business does not execute a valid and enforceable
agreement waiving any claims against the Trust Fund, or (ii) as to any claims under the Company’s obligation to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the
“Securities Act”). The undersigned acknowledges and agrees that there will be no distribution from the Trust Fund with respect to any warrants, all rights of which will terminate on the Company’s liquidation. 
 3. In order to minimize potential conflicts of interest which may arise from multiple corporate affiliations, the undersigned has agreed, until the
earliest of the consummation by the Company of a Business Combination, the liquidation of the Company or such time as the undersigned ceases to be an officer, to present to the Company for its consideration, prior to presentation to any other
entity, any business opportunity in excess of approximately $190 million which may reasonably be required to be presented to the Company under Delaware law, subject to any pre-existing fiduciary or contractual obligations the undersigned may have.
Decisions by the Company to release the undersigned to pursue any specific business opportunity will be made solely by a majority of the Company’s disinterested directors. 
 4. The undersigned acknowledges and agrees that prior to entering into (i) a Business Combination with a target business that is, or has been within
the past five years, affiliated with any of the Insiders or special advisors of the Company or their affiliates, including an entity that is either a portfolio company, or has otherwise received a material financial investment from, any private
equity fund or investment company (or an affiliate thereof) that is affiliated with such individuals; or (ii) a Business Combination 

  

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where the Company acquires less than 100% of a target business and any of the Insiders or special advisors of the Company or their affiliates acquire the
remaining portion of such target business; such transaction must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm that such
Business Combination is fair to the Company’s unaffiliated stockholders from a financial point of view. 
 5. Neither the undersigned,
any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation or other cash payment for services rendered to the Company prior to or in connection with the
consummation of the Business Combination; provided that the Company shall be allowed to repay a non-interest bearing loan in an aggregate amount of $95,000 made to the Company by the undersigned to cover the IPO expenses. The undersigned and any
affiliate of the undersigned shall also be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating a Business Combination. 
 6. Neither the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive or accept a
finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned or any affiliate of the undersigned originates a Business Combination. 
 7. The undersigned will escrow all of his shares of Founders’ Common Stock until one year after the consummation by the Company 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. 
 8. The undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Sponsors’ Warrants will be subject to the transfer restrictions described in the Subscription Agreement
relating to the undersigned’s Sponsors’ Warrants. 
 9. The undersigned agrees to be the Chief Executive Officer, Secretary and
Director of the Company until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s biographical information furnished to the Company and Citigroup and attached hereto as
Exhibit A is true and accurate in all respects, does not omit any material information with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K,
promulgated under the Securities Act of 1933. The undersigned’s NASD Questionnaire furnished to the Company and Citigroup and annexed as Exhibit B hereto is true and accurate in all respects. The undersigned represents and warrants that:

 (a) he is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to
desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; 
  

 3 

 (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. 
 10. 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 Chief Executive Officer, Secretary and Director of the Company. 
 11.
The undersigned hereby waives his right to exercise conversion rights with respect to any shares of the Company’s common stock owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Founders’
Common Stock or shares purchased by the undersigned in the IPO or in the aftermarket, and agrees that he will not seek conversion with respect to such shares in connection with any vote to approve a Business Combination. 
 12. The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth or Seventh of the Company’s Certificate of
Incorporation prior to the consummation of a Business Combination other than an amendment to Article Sixth of the Company’s Certificate of Incorporation in accordance with such Article Sixth thereof. Should such a proposal be put before
stockholders, the undersigned hereby agrees to vote against such proposal. This paragraph may not be modified or amended under any circumstances. 
 13. In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient to complete such liquidation, the undersigned agrees to advance such funds necessary to complete
such liquidation and agrees not to seek repayment for such expenses. 
 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 

  

 4 

 
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 Graubard Miller 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 Citigroup and appoint a substitute agent acceptable to each of the Company and Citigroup 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. 
 15. As used herein, (i) a “Business Combination” shall
mean a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business; (ii) “Insiders” shall mean all officers, directors and stockholders of the Company immediately prior to the
IPO; (iii) “Founders’ Common Stock” shall mean all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares” shall mean the shares of Common Stock issued in the
Company’s IPO; (v) “Sponsors’ Warrants” shall mean the warrants that are being sold privately by the Company simultaneously with the consummation of the IPO; and (vi) “Trust Fund” shall mean the trust fund
into which a portion of the net proceeds of the Company’s IPO will be deposited. 
 16. The undersigned acknowledges and understands
that the Underwriters and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative of, or a fiduciary
with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the subject matter hereof. 
 17.
This letter agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives and assigns. This letter agreement shall terminate on the earlier of (i) the consummation of a Business
Combination and (ii) the liquidation of the Company; provided, that such termination shall not relieve the undersigned from liability from any breach of this agreement prior to its termination. 
  

	
	Mark Ein
	Print Name of Insider
	
	 /s/ Mark Ein

	Signature

  

 5

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