Document:

exv10w11

Exhibit
10.11

RESEARCH PHARMACEUTICAL SERVICES, INC.

2007 EQUITY INCENTIVE PLAN

AWARD AGREEMENT

     Research Pharmaceutical Services, Inc., a Delaware corporation (the “Company”), hereby grants
to                      (the “Optionee”), an employee of its wholly-owned subsidiary, Research
Pharmaceutical Services, LLC, a Delaware limited liability company (the “Employer”), a replacement
option (the “Replacement Option”) to purchase                     shares (the “Replacement Option
Shares”) of the Company’s common stock. Except as otherwise specified herein or unless the context
requires otherwise, the terms defined in the Research Pharmaceutical Services, Inc. 2007 Equity
Incentive Plan (the “Plan”) will have the same meanings herein.

     WHEREAS, as of August 30, 2007 (the “Closing Date”), Research Pharmaceutical Services, Inc., a
Pennsylvania corporation (“Legacy RPS”), underwent a change in control pursuant to the Agreement
and Plan of Merger among Cross Shore Acquisition Corporation, Longxia Acquisition, Inc., Research
Pharmaceutical Services, Inc., and the shareholders of Research Pharmaceutical Services, Inc.;

     WHEREAS, the Optionee was granted an option under the Research Pharmaceutical Services, Inc.
2002 Equity Incentive Plan (the “Prior Plan”) on                      (the “Prior Grant Date”) to
purchase                     shares of common stock of Legacy RPS at an exercise price of
$                     (the “Prior Option”); and

     WHEREAS, pursuant to Section 13 of the Prior Plan, effective as of the Closing Date, the Prior
Option was cancelled and exchanged for the Replacement Option;

     NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the
parties hereto agree as follows:

          1. Nature of the Replacement Option. This Replacement Option is intended to be an incentive
stock option described in section 422 of the Code, to the maximum extent possible under the Code.

          2. Term of Replacement Option. This Replacement Option may not be exercised later than the
date that is ten (10) years after the Prior Grant Date, subject to earlier termination or
cancellation, as provided in the Plan or Section 6 hereof.

          3. Replacement Option Exercise Price. The cost to the Optionee to purchase, pursuant to this
Award Agreement, one Share is $                    .

          4. Exercise of Replacement Option. This Replacement Option will be exercisable during its
term only in accordance with the terms and provisions of the Plan and this Award Agreement, as
follows:

 

 

               (a) Right to Exercise.

                    (i) The Replacement Option shall become exercisable with respect to thirty-three and one-third
percent (331/3 percent) of the Replacement Option Shares if the Optionee has remained continuously
employed by Legacy RPS, the Employer, or their successors through the first anniversary of the
Prior Grant Date; and

                    (ii) Thereafter, the Replacement Option shall become exercisable with respect to an additional
eight and one-third percent (81/3 percent) of the Replacement Option Shares at the end of each
consecutive ninety (90) day period following the first anniversary of the Prior Grant Date if the
Optionee has remained continuously employed by Legacy RPS, the Employer, or their successors
through such date.

          Notwithstanding paragraphs (i) and (ii) above, this Replacement Option may not be exercised
from the effective time of a Form 10 (General Form for Registration of Securities) (if any) that is
filed with the Securities and Exchange Commission (the “SEC”) until the time the underlying
Replacement Option Shares have been registered with the SEC by means of a Form S-8 (Registration
Statement Under the Securities Act of 1933) duly filed with the SEC.

               (b) Method of Exercise. The Optionee may exercise this Replacement Option by providing
written notice stating the election to exercise this Replacement Option. Such written notice must
be signed by the Optionee and must be delivered in person or by certified mail to the Secretary of
the Company or such other person as may be designated by the Company. The written notice must be
accompanied by (i) payment of the option exercise price in the manner described in Section 4(c)
hereof, and (ii) any other agreements required by the Board or its Committee and/or the terms of
the Plan, which other agreements may restrict the sale or other transfer of the Replacement Option
Shares and may include certain additional representations and agreements as to the Optionee’s
investment intent with respect to the Replacement Option Shares. This Replacement Option will be
deemed to be exercised only upon the receipt by the Company of such written notice, payment of the
option exercise price, and any other agreements required by the Board or its Committee, the terms
of the Plan and/or this Award Agreement. The Optionee will have no right to vote or receive
dividends and will have no other rights as a stockholder with respect to such Replacement Option
Shares notwithstanding the exercise of this Replacement Option, until the issuance (as evidenced by
the appropriate entry on the books of the Company or of a duly authorized transfer agent of the
Company) of the stock certificate(s) evidencing those Shares that are being issued upon exercise of
this Replacement Option. The certificate(s) for the Replacement Option Shares will be registered
in the name of the Optionee and will contain any legend as may be required under the Plan, this
Award Agreement, and/or applicable law.

               (c) Method of Payment. The method of payment of the option exercise price may consist
entirely of cash or personal or certified check, or such other consideration or method of payment
as may be authorized under the Plan, in addition to or in place of cash or check, as may be
determined by the Board or its Committee at the time of exercise.

               (d) Partial Exercise. This Replacement Option may be exercised in whole or in part; provided,
however, that any exercise may apply only with respect to a whole number of Replacement Option
Shares.

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               (e) Restrictions on Exercise. This Replacement Option may not be exercised if the issuance of
Replacement Option Shares upon such exercise would constitute a violation of any applicable federal
or state securities laws or other laws or regulations. In addition, as a further condition to the
exercise of this Replacement Option, the Company may require the Optionee to make any
representation or warranty to the Company as may be required by or advisable under any applicable
law or regulation.

          5. Investment Representations. Unless the Replacement Option Shares have been registered
under the Securities Act, in connection with the acquisition of this Replacement Option, the
Optionee represents and warrants to the Company as follows:

               (a) The Optionee is acquiring this Replacement Option, and upon exercise of this Replacement
Option, the Optionee will be acquiring the Replacement Option Shares for investment for his own
account, not as a nominee or agent, and not with a view to or for resale in connection with any
distribution thereof.

               (b) The Optionee has a preexisting business or personal relationship with the Company or its
affiliates or one of its directors, officers or controlling persons and by reason of his business
or financial experience, has, and could be reasonably assumed to have, the capacity to protect his
interests in connection with the acquisition of this Replacement Option and the Replacement Option
Shares.

          6. Termination of Relationship with the Employer or its Successors.

               (a) Generally. Except as provided in Section 4(a)(iii) hereof, if the Optionee terminates
employment with the Employer or its successors for any reason other than death, Disability or
termination for Cause, this Replacement Option (to the extent exercisable at the time of such
termination) may be exercised at any time within three (3) months after the date of such
termination. To the extent that this Replacement Option is not exercisable at the time of such
termination, or to the extent this Replacement Option is not exercised within the time specified
herein, this Replacement Option will terminate.

               (b) Disability. If the Optionee’s employment by the Employer or its successors terminates due
to Disability, this Replacement Option (to the extent exercisable at the time of such termination)
may be exercised by the Optionee or his legal guardian or representative at any time within twelve
(12) months after such termination, provided, however, that if the disabled Optionee commences any
employment or engagement (including, but not limited to, full- or part-time employment or
independent consulting work) during the aforementioned twelve (12) month period, this Replacement
Option will terminate immediately and automatically. To the extent that this Replacement Option is
not exercisable on the date of termination, or to the extent this Replacement Option is not
exercised within the time specified herein, this Replacement Option will terminate.

               (c) Death. If the Optionee’s employment by the Employer or its successors terminates due to
his death, this Replacement Option (to the extent exercisable at the time of such death) will
remain exercisable for twelve (12) months after the date of death by the Optionee’s estate or by a
person who acquired the right to exercise this Replacement Option by bequest or inheritance. To
the extent that this Replacement Option is not exercisable on the date

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of death, or to the extent this Replacement Option is not exercised within the time specified
herein, this Replacement Option will terminate.

               (d) Cause. If the Optionee’s employment is terminated for Cause, this Replacement Option will
be immediately and automatically canceled and the Optionee will have no further rights therein.

Notwithstanding any other provision of this Section 6, this Replacement Option will not be
exercisable after the expiration of the term set forth in Section 2 hereof.

          7. Non-Transferability of Replacement Option. This Replacement Option may not be sold,
pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either
voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or
distribution. During the Optionee’s lifetime, this Replacement Option is exercisable only by the
Optionee. Subject to the foregoing and the terms of the Plan, the terms of this Replacement Option
will be binding upon the executors, administrators and heirs of the Optionee.

          8. No Continuation of Employment. Neither the Plan nor this Replacement Option will confer
upon any Optionee any right to continue in the service of the Employer or its successors or limit,
in any respect, the right of the Company or the Employer or their successors to discharge the
Optionee at any time, with or without Cause and with or without notice.

          9. Market Stand-Off. The Optionee agrees that, in connection with any public offering by the
Company of its equity securities pursuant to a registration statement filed under the Securities
Act, not to sell, make any short sale of, loan, hypothecate, pledge, grant any option for the
purchase of or otherwise dispose of any Replacement Option Shares without the prior written consent
of the Company or its underwriters, for such period of time from the effective date of such
registration as may be requested by the Company or such underwriters.

          10. Non-Competition Covenants. The Optionee agrees to be bound and subject to the
non-competition provisions of Section 7 of the Plan, a copy of which is set forth in Exhibit I
attached hereto.

          11. Withholding. The Company reserves the right to withhold, in accordance with any
applicable laws, from any consideration payable or property transferable to the Optionee any taxes
required to be withheld by federal, state or local law as a result of the grant or exercise of this
Replacement Option or the sale or other disposition of the Replacement Option Shares. If the
amount of any consideration payable to the Optionee is insufficient to pay such taxes or if no
consideration is payable to the Optionee, upon the request of the Company, the Optionee (or such
other person entitled to exercise this Replacement Option pursuant to Section 6 hereof) will pay to
the Company an amount sufficient for the Company to satisfy any federal, state or local tax
withholding requirements applicable to the grant or exercise of this Replacement Option or the sale
or other disposition of the Replacement Option Shares.

          12. Entire Agreement. This Award Agreement, together with the Plan and the other exhibits
attached thereto or hereto, represents the entire agreement between the parties hereto relating to
the subject matter hereof, and merges and supersedes all prior and contemporaneous discussions,
agreements and understandings of every nature relating to the

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award of Replacement Options to Optionee by the Company (other than any written Award
Agreement executed in connection with another award of Replacement Options to Optionee). This
Award Agreement may not be changed or modified, except by an agreement in writing signed by each of
the parties hereto.

          13. Spousal Consent. As a condition to the effectiveness of the grant of the Replacement
Option, the Optionee’s spouse (if any) is required to execute the attached “Consent of Spouse.”

          14. Governing Law. This Award Agreement will be construed in accordance with the laws of the
state of Delaware, without regard to the application of the principles of conflicts of laws.

          15. Amendment. Subject to the provisions of the Plan, this Award Agreement may only be
amended by a writing signed by each of the parties hereto.

          16. The Plan. The Optionee has received a copy of the Plan (a copy of which is attached
hereto), has read the Plan and is familiar with its terms, and hereby accepts the Replacement
Option subject to all of the terms and provisions of the Plan, as amended from time to time.
Pursuant to the Plan, the Board or its Committee is authorized to interpret the Plan and to adopt
rules and regulations not inconsistent with the Plan as it deems appropriate. The Optionee hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or
its Committee upon any questions arising under the Plan.

          17. Early Disposition of Stock. Optionee hereby agrees that if the Optionee disposes of any
Replacement Option Shares within one (1) year after such Shares are transferred to Optionee, or
within two (2) years after the Prior Grant Date, Optionee will notify the Company in writing within
thirty (30) days after the date of such disposition.

          18. Replacement Options. This Replacement Option shall be exercisable under the Plan in
accordance with the terms of the Replacement Option Award agreement, the terms of which shall
govern in the event of any conflict with the provisions of the Plan. In addition, any provision of
the Plan that would provide an additional benefit (within the meaning of section 424(a)(2) of the
Code and the Treasury Regulations thereunder) shall not apply to the Replacement Option.

[Signature page follows]

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     IN WITNESS WHEREOF and intending to be legally bound hereby, this Award Agreement is hereby
executed.

	 	 	 	 	 
	 	 	RESEARCH PHARMACEUTICAL SERVICES, INC.
	 
	 	 	 	 
	 

	 	By:	 
	 
	 	 	 	 
	 

	 	Title:	 
	 
	 	 	 	 
	 

	 	Date:	 

The Optionee acknowledges receipt of a copy of the Plan, a copy of which is attached hereto, and
represents that he or she has read and is familiar with the terms and provisions thereof and hereby
accepts this Replacement Option subject to all of the terms and provisions of the Award Agreement
and the Plan. The Optionee acknowledges and agrees to be bound and subject to the noncompetition
provisions of Section 7 of the Plan, a copy of which is set forth in Exhibit I attached hereto.
The Optionee hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Board or the Committee upon any questions arising under the Plan.

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	OPTIONEE
	 
	 	 	 	 
	 

	 	Signature Date:	 
	 
	 	 	 	 
	 

	 	Date:	 
	 
	 	 	 	 
	 

	 	Address:	 

THIS REPLACEMENT OPTION AND THE SECURITIES WHICH MAY BE PURCHASED UPON EXERCISE OF THIS REPLACEMENT
OPTION HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE
STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE ACQUIRED WITH A VIEW TO DISTRIBUTION OR RESALE,
AND MAY NOT BE SOLD, ASSIGNED, EXCHANGED, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED
OR DISPOSED OF, BY GIFT OR OTHERWISE, OR IN ANY WAY ENCUMBERED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT FOR SUCH SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE
STATE SECURITIES LAWS, OR A SATISFACTORY OPINION OF COUNSEL SATISFACTORY TO RESEARCH PHARMACEUTICAL
SERVICES, INC. THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND UNDER APPLICABLE STATE
SECURITIES LAWS.

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CONSENT OF SPOUSE

I,                     , spouse of [INSERT NAME], have read the foregoing Replacement
Option Award Agreement (the “Agreement”). I am aware by the terms of the Replacement
Option Award Agreement, among other things, that my spouse agrees to sell certain of his shares of
the capital stock of the Company, including my community property or other interest therein (if
any), upon certain events and that transfer of such shares may be otherwise restricted. I hereby
consent to such sale and to such restrictions, approve of the provisions of the Agreement, and
agree that if I predecease my spouse, the successors of my community property or other interest (if
any) in such shares will hold such shares subject to the provisions of the Agreement. In
consideration of the grant of shares of Research Pharmaceutical Services, Inc. as set forth in the
Agreement, I hereby appoint my spouse as my attorney-in-fact with respect to the exercise of any
rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I
may have any rights in said Agreement or any shares issued pursuant thereto under the community
property laws or similar laws relating to marital property.

	 	 	 
	 

	 	 
	 

	 	SIGNATURE OF SPOUSE
	 
	 	 
	 

	 	 
	 

	 	DATE

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EXHIBIT I — NON-COMPETITION COVENANTS

7. Non-Competition. Notwithstanding any other provision of this Plan, to the extent the
provisions of this Section 7 are set forth or referenced in the Award Agreement, a Participant
shall be bound by the following:

          (a) During the Participant’s employment with the employer, the Participant will not compete in
any way with the employer, directly or indirectly, and will not consult with or accept employment
with or have any interest in any business, firm, person, partnership, corporation or other entity
(“Business”), whether as an employee, officer, director, shareholder, holder of equity securities,
agent, security holder, creditor, consultant or otherwise (“Interested Person”), which engages in
the performance of or provides the same or similar service or products as provided by the employer
to any individual or entity or which competes with the employer, directly or indirectly, in any
aspect of the employer’s business;

          (b) For a period of one (1) year following the date that the Participant ceases to be employed
by the employer for any reason, the Participant, without the express prior written consent of the
employer, will not compete in any way with the employer, directly or indirectly, and will not
consult with, accept employment with, or have any interest in any Business, whether alone or as an
Interested Person, which engages in the performance of or provides the same or similar services as
provided by the employer to any individual or entity or which competes with the employer, directly
or indirectly, in any aspect of the business of the employer within One Hundred (100) miles of
Philadelphia, Pennsylvania. the Participant specifically agrees to the above geographic
restriction since the principal means by which the employer’s business is conducted is through
email, telephonic and mail communications;

          (c) For a period of eighteen (18) months following the date that the Participant ceases to be
employed by the employer for any reason, the Participant will not, without the express prior
written consent of the employer, directly or indirectly, whether alone or as an Interested Person,
solicit, induce, divert, take away, do business with or render services to any client or candidate
of the employer or a prospective client or candidate of employer with whom the employer dealt,
contacted or solicited within two (2) years preceding the Participant’s termination of employment
with the employer;

          (d) For a period of two (2) years following the date that the Participant ceases to be
employed by the employer for any reason, the Participant will not, without the express prior
written consent of the employer, directly or indirectly, whether alone or as an Interested Person,
solicit, induce, divert, take away, do business with or render services to any client or candidate
of the employer or a prospective client or candidate of the employer with whom the Participant
dealt, contacted or solicited on behalf of the employer within three (3) years preceding the
Participant’s termination of employment with the employer;

          (e) For a period of two (2) years following the date that the Participant ceases to be
employed by the employer for any reason, the Participant will not, directly or indirectly, whether
alone or as an Interested Person, solicit, attempt to solicit or otherwise influence or attempt to
influence, any of the employer’s clients, candidates or personnel (including but not limited to the
employer’s employees, contractors, consultants or agents) not to do business with the employer
and/or to apply for or accept any employment or consulting positions with the Participant, any
Business or other entity or individual with whom the Participant is connected;

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and

    
      (f) The Participant shall not, at any time during or after the Participant’s employment with
the employer, make or publish any negative or disparaging statements or communications about the
employer or any director, officer or employee of the employer.

If the Participant’s employment with the employer is terminated by the employer as a result of the
Committee or Board making a determination that the Participant violated (a) — (f) above, then all
unexercised Options shall terminate upon the date of such a finding, or, if earlier, the date of
termination of employment for such a finding, and the Participant shall forfeit all Shares for
which the Company has not yet delivered share certificates to the Participant and the Company shall
refund to the Participant the Option purchase price paid to it, if any, in the same form as it was
paid (or in cash at the Company’s discretion) for any Options as to which an exercise was in
process but not completed. Notwithstanding anything herein to the contrary, the Company may
withhold delivery of share certificates pending the resolution of any inquiry that could lead to a
finding resulting in forfeiture.

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Exhibit 10.12

     EXECUTION COPY

AGREEMENT CONCERNING BOARD OF DIRECTORS

     This AGREEMENT CONCERNING BOARD OF DIRECTORS is dated as of August 20, 2007 (this
“Agreement”), and made by and among Pangaea One Acquisition Holdings I, LLC (together with one or
more of its Affiliates, “Pangaea”), Cross Shore Acquisition Corporation (the “Company”), and each
of the individuals or entities whose names appear on the RPS Signature Page hereto (each, together
with one or more of its Affiliates, an “RPS Stockholder”). Pangaea and the RPS Stockholders are
referred to herein, collectively, as the “Stockholders.” Capitalized terms used but not otherwise
defined herein shall have the meanings set forth in Section 5 hereof.

     WHEREAS, this Agreement is being entered into in connection with the proposed re-admission of
the Company’s Common Stock to trading on the AIM market of London Stock Exchange plc
(“AIM”) in connection with the Company’s proposed acquisition (the “Acquisition”) of
ReSearch Pharmaceutical Services, Inc. and a series of related transactions (collectively, the
“Transactions”);

     WHEREAS, after giving effect to the Transactions, each Stockholder shall own the shares of
Common Stock identified opposite such Stockholder’s name on Schedule I hereto; and

     WHEREAS, the Company and the Stockholders desire to enter into this Agreement for the
purposes, among others, of (i) assuring continuity in the management of the Company and (ii)
granting certain rights to Pangaea.

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

     1. Director Rights.

     (a) From the Effective Date through the date on which this Agreement terminates in
accordance with Section 21, subject to Section 1(d), each Stockholder shall vote all of
his, her or its Stockholder Shares and shall take all other necessary or desirable actions
within such Stockholder’s control so that:

     (i) at the election of Pangaea, up to two (2) individuals designated by
Pangaea shall be nominated and elected to the Board (such directors, the
“Pangaea Directors”); provided that at such time as Pangaea ceases
to own at least 20% of the outstanding shares of Common Stock, Pangaea shall only
be entitled to designate one (1) of the Pangaea Directors; and provided,
further, that at such time as Pangaea ceases to own at least 10% of the
outstanding shares of Common Stock, Pangaea shall no longer be entitled to
designate any of the Pangaea Directors; and

Cross Shore Board Agreement

 

 

     (ii) if both Pangaea Directors are elected to the Board in accordance with
Section 1(a)(i), at the request of the Nomad the Company shall elect to designate
one (1) individual (who shall be considered to be independent for the purposes of
Appendix B to the Corporate Governance Guidelines for AIM Companies published by
the Quoted Companies Alliance or any other relevant securities exchange) who shall
be nominated and elected to the Board (such director, the “Additional
Director”).

     (b) If any of the Pangaea Directors for any reason ceases to serve as a member of the
Board during such person’s term of office, the resulting vacancy on the Board shall,
subject to Section 1(d), be filled at the direction of Pangaea as provided in Section
1(a)(i).

     (c) The Company shall pay the reasonable out of pocket expenses (including reasonable
travel expenses) incurred by each director in connection with attending the meetings of the
Board or any committee thereof.

     (d) No appointments to the Board made pursuant to Sections 1(a) or (b) above shall be
made other than with the approval of the Nomad.

     (e) The parties acknowledge that any appointments made pursuant to Sections 1(a) or
(b) above shall be in addition to the independent non-executive Director agreed by the
Company to be appointed within 6 months of re-admission to trading on AIM (as described in
the admission document of the Company dated 5 June 2007).

     (f) Pangaea shall have the right to propose candidates to serve as the Additional
Director or for election to the Board as an independent director (within the meaning of
Appendix B to the Corporate Governance Guidelines for AIM Companies published by the Quoted
Companies Alliance or the rules of any other relevant securities exchange).

     2. Observer Rights. In addition to the rights contained in Section 1
above, from the
Effective Date through the date on which this Agreement terminates in accordance with Section 21,
so long as (a) Pangaea owns at least 10% of the outstanding shares of Common Stock and (b) there
are no Pangaea Directors then elected to the Board, the Company will permit Pangaea to have one
representative (the “Observer”) present (whether in person or by telephone) in the capacity
of a non-voting observer at all meetings of the Board or any committee thereof (provided that the
Observer and Pangea shall be required to enter into a customary confidentiality agreement, in form
and substance reasonably acceptable to Pangea and the Company, which shall include an
acknowledgement that Observer and Pangea may become aware of material non-public information
concerning the Company and that applicable securities laws and the Company’s trading policies
generally restrict the trading of Company securities by persons in possession of any such
information). The Company shall send to the Observer all of the notices, information and other
materials that are distributed to the Board and shall provide the Observer with a notice and agenda
of each meeting of the Board or any committee thereof all at the same time and in the same manner
as such notices, agenda, information and other materials are provided to the members of the Board
or such committee. If the Company proposes to take any action by written consent in lieu of a
meeting of the Board, the Company shall provide a

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copy thereof to the Observer in the same manner and at the same time as notice is sent to the
members of the Board. The Company shall reimburse the Observer for the reasonable out-of-pocket
expenses (including reasonable travel expenses) incurred by the Observer in attending the meetings
of the Board or any committee thereof.

     3. Company Undertaking. Subject to applicable law and the Company’s governing
documents, the Company shall take all actions necessary or desirable to give effect to the
agreement of the Stockholders contained in Section 1, including, without limitation, (i) ensuring
that the individuals nominated by Pangaea to serve as a Pangaea Director or the Independent
Director are duly and timely nominated and included in the slate of directors recommended by the
Company for election by the Company’s stockholders; (ii) calling, setting a record date for,
providing notice of, and holding one or more special meetings of the Company’s stockholders for
purposes of elect such directors; and (iii) timely preparing (at the Company’s sole expense) such
documentation as is required to hold any such meeting in accordance with applicable law and the AIM
Rules or the rules of any other applicable securities exchange. Neither the Company nor the RPS
Stockholders shall amend (or agree to an amendment of) the Company’s governing documents in a
manner that would adversely effect the rights of Pangaea hereunder or permit the Company to
circumvent its obligations under this Section 3 without the prior written consent of Pangaea. The
Company shall not delegate substantially all of the governance authority and power of the Board to
a committee of the Board (such as an executive committee) unless the Pangaea Directors have
proportionate representation on such committee; provided that (A) the foregoing is not intended to
require that one or both Pangaea Directors be appointed to any particular committees of the Board
other than a committee (such as an executive committee) to which substantially all of the
governance authority of the Board is delegated, and (B) for the avoidance of doubt, the foregoing
does not apply to committees established by the Company’s management team (and not by the Board)
even if one or more executive directors serve on such committees in their capacities as officers of
the Company.

     4. Limited Proxy. In order to secure each Stockholder’s obligation to vote his, her or
its Stockholder Shares in accordance with the provisions of Sections 1(a) and 1(b) hereof, each RPS
Stockholder hereby appoints Pangaea (and Pangaea hereby appoints the Company) as his, her or its
true and lawful proxy and attorney in fact, with full power of substitution, to vote all of his,
her or its Stockholder Shares for the election and/or removal of directors and all such other
matters as expressly provided for in Sections 1(a) and 1(b). Pangaea (or the Company, as
applicable) may exercise the irrevocable proxy granted to it hereunder only if the applicable
Stockholder fails to comply with the provisions of Sections 1(a) and 1(b). The proxies and powers
granted by each Stockholder pursuant to this paragraph are coupled with an interest and are given
to secure the performance of each Stockholder’s obligations under Sections 1(a) and 1(b) of this
Agreement. The proxies granted in this Section 4 shall terminate and be of no further legal force
or effect on the third anniversary of the Effective Date in accordance with Section 21.

     5. Definitions. As used herein, the following terms have the following
meanings:

          “Affiliate” shall mean with respect to any Person, any other Person controlling,
controlled by or under common control with the Person and, in the case of a Person which is a
partnership, any partner of such Person.

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          “AIM Rules” means the rules and guidance notes contained in Parts One and Two,
respectively, of the booklet entitled “AIM Rules for Companies” published by the London Stock
Exchange, together with those other rules and guidance notes of the London Stock Exchange which
govern the admission of securities to trading on, and the regulation of, AIM (as amended from time
to time).

          “Board” means the Board of Directors of the Company.

          “Business Day” means any day that is not a Saturday, a Sunday or any other day on
which banks are required or authorized by law to be closed in the State of New York.

          “Common Stock” means the common stock, par value $0.0001 per share, of the Company or
its successor.

          “Effective Date” means the later to occur of the date of the closing of the
Transactions or the date of the closing of the Acquisition.

          “Nomad” means, as of any relevant date, the Company’s nominated adviser appointed
pursuant to Rule 1 of the AIM Rules as of such date, which the parties acknowledge is Arbuthnot
Securities Limited as of the date hereof.

          “Person” means an individual, a partnership, a corporation, a limited liability
company, an association, a joint stock company, a trust, a joint venture, an unincorporated
organization and a governmental entity or any department, agency or political subdivision thereof.

          “Stockholder Shares” means any Common Stock owned by a Stockholder on the date of the
closing of the Transactions or hereafter, together with any equity securities issued or issuable
directly or indirectly with respect to such Common Stock by way of stock dividend or stock split or
in connection with a combination of shares, recapitalization, merger, consolidation or other
reorganization.

     6. Assignment. No Stockholder may transfer, assign or otherwise dispose
(each, a
“Transfer”) of its Stockholder Shares to any of its Affiliates unless such Affiliate, as a
condition precedent to such Transfer, agrees in writing to be bound by the terms of this Agreement
and confirms the grant of the proxy contained in Section 4 hereof. Any Stockholder who so
Transfers Stockholder Shares to its Affiliate shall deliver an executed copy of such writing to the
Company and the other parties not later than five (5) Business Days prior to the effectiveness of
such Transfer. Any Transfer or attempted Transfer of any Stockholder Shares in violation of this
Section 6 shall be null and void ab initio, and the Company shall not record such Transfer on its
books or treat any purported transferee of such Stockholder Shares as the owner of such shares for
any purpose. For purposes of clarity, the parties acknowledge and agree that the restrictions
contained in this Section 6 shall not apply to any Transfer, and this Agreement does not restrict
Transfers, of Stockholder Shares to a Person that is not an Affiliate of the transferring
Stockholder.

     7. Notices. All notices, demands or other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to

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have been given (a) when delivered personally to the recipient, (b) when telecopied to the
recipient (with hard copy sent to the recipient by reputable courier service (charges prepaid) that
same day) if telecopied before 5:00 p.m., local time in the place of the recipient on a Business
Day, and otherwise on the next Business Day, or (c) two (2) Business Days after being sent to the
recipient by reputable courier service (charges prepaid). Such notices, demands and other
communications shall be sent to the parties hereto at the addresses set forth at the beginning of
this letter.

     8. Amendment and Waiver. Except as otherwise provided herein, no modification,
amendment, or waiver of any provision of this Agreement shall be effective against any party hereto
unless such modification, amendment, or waiver has been approved in writing by such party. No
course of dealing or the failure of any party to enforce any of the provisions of this Agreement
shall in any way operate as a waiver of such provisions and shall not affect the right of such
party thereafter to enforce each and every provision of this Agreement in accordance with its
terms.

     9. Successors and Assigns. No party may assign its obligations or rights hereunder to
any other person or entity without the prior written consent of the other parties; provided, that
(i) Pangaea may assign its rights hereunder to any of its Affiliates to whom Pangaea Transfers its
Stockholder Shares without obtaining the prior written consent of the other parties and (ii) each
RPS Stockholder may assign its obligations hereunder to any Affiliate to whom such RPS Stockholder
Transfers its Stockholder Shares without obtaining the prior written consent of the other parties.
Subject to the foregoing, this Agreement and all the obligations and rights hereunder shall inure
to the successors and permitted assigns of each party.

     10. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same
agreement.

     11. Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall
not affect the validity, legality or enforceability of any other provision of this Agreement in
such jurisdiction or affect the validity, legality or enforceability of any provision in any other
jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as
if such invalid, illegal or unenforceable provision had never been contained herein.

     12. Remedies. Each party shall be entitled to enforce its rights under this Agreement
specifically, to recover damages by reason of any breach of any provision of this Agreement and to
exercise all other rights existing in its favor. The parties hereto agree and acknowledge that
money damages would not be an adequate remedy for any breach of the provisions of this Agreement
and that a party may in its sole discretion apply to any court of law or equity of competent
jurisdiction for specific performance and/or injunctive relief (without posting a bond or other
security) in order to enforce or prevent any violation of the provisions of this Agreement.

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     13. Entire Agreement. Except as otherwise expressly set forth herein, this Agreement
embodies the complete agreement and understanding among the parties hereto with respect to the
subject matter hereof and supersedes and preempts any prior understandings, agreements or
representations by or among the parties, written or oral, which may have related to the subject
matter hereof in any way.

     14. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of Delaware without reference conflicts of laws principles.

     15. Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF
ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL
TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS
RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT,
TORT, EQUITY, OR OTHERWISE. EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT
THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY
COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY.

     16. Submission to Jurisdiction. ANY AND ALL SUITS, LEGAL ACTIONS OR PROCEEDINGS
ARISING OUT OF THIS AGREEMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF DELAWARE OR THE UNITED
STATES DISTRICT COURT LOCATED WILMINGTON, DELAWARE AND EACH PARTY HERETO HEREBY SUBMITS TO AND
ACCEPTS THE EXCLUSIVE JURISDICTION OF SUCH COURTS FOR THE PURPOSE OF SUCH SUITS, LEGAL ACTIONS OR
PROCEEDINGS. IN ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING, EACH PARTY HERETO WAIVES PERSONAL
SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE BY
CERTIFIED OR REGISTERED MAIL DIRECTED TO IT AT ITS ADDRESS SET FORTH IN THE BOOKS AND RECORDS OF
THE COMPANY. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES
ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OR ANY SUCH SUIT, LEGAL
ACTION OR PROCEEDING IN ANY SUCH COURT AND HEREBY FURTHER WAIVES ANY CLAIM THAT ANY SUIT, LEGAL
ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

     17. Descriptive Headings. The descriptive headings of this Agreement are inserted for
convenience only and do not constitute a part of this Agreement.

     18. No Strict Construction. The language used in this Agreement shall be deemed to be
the language chosen by the parties hereto to express their mutual intent, and no rule of strict
construction shall be applied against any party.

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     19. Time is of the Essence. Time is of the essence for each and every provision of
this Agreement. Whenever the last day for the exercise of any privilege or the discharge or any
duty hereunder shall fall upon a day that is not a Business Day, the party having such privilege or
duty may exercise such privilege or discharge such duty on the next succeeding day which is a
Business Day.

     20. Effectiveness. This Agreement shall become effective on the Effective Date.

     21. Termination. This Agreement, and the parties’ respective rights and obligations
hereunder, shall terminate and cease to be of further legal force or effect on the third (3rd)
anniversary of the Effective Date.

- 7 -

 

     IN WITNESS WHEREOF, the undersigned have entered into this Agreement as of the date first
written above.

PANGAEA ONE ACQUISITION HOLDINGS I, LLC

	 	 	 	 
	By:

	 	/s/ Peter M. Yu	 

Name: Peter M. Yu

Title: Managing Member

CROSS SHORE ACQUISITION CORPORATION

	 	 	 	 
	By:
	 	/s/
Dennis M. Smith	 

Name: Dennis M. Smith

Title: Chief Executive Officer

Cross Shore Board Agreement

 

 

RPS Stockholder Signature Page

     IN WITNESS WHEREOF, the undersigned have entered into this Agreement as of the date first
written above.

	 	 	 	 
	/s/ Daniel M. Perlman	 

Daniel M. Perlman

ARGENTUM CAPITAL PARTNERS, L.P.

By: BR Associates, Inc., its General Partner

	 	 	 	 
	By:

	 	/s/ Daniel Raynor	 

Name: Daniel Raynor

Title: Chairman

ARGENTUM CAPITAL PARTNERS II, L.P.

By: Argentum Partners II, LLC, its General Partner

By: Argentum Investments, LLC, its Managing Member

	 	 	 	 
	By:

	 	/s/ Daniel Raynor	 

Name: Daniel Raynor

Title: Chairman

THE PRODUCTIVITY FUND IV, L.P.

By: First Analysis Management Company IV, L.L.C., its General Partner

By: First Analysis Venture Operations and Research, L.L.C., its Managing Member

By: First Analysis Corporation, its Manager

	 	 	 	 
	By:

	 	/s/ James Macdonald	 

Name: James Macdonald

Title: Managing Director

THE PRODUCTIVITY FUND IV ADVISORS FUND

By: First Analysis Management Company IV, L.L.C., its General Partner

By: First Analysis Venture Operations and Research, L.L.C., its Managing Member

By: First Analysis Corporation, its Manager

	 	 	 	 
	By:

	 	/s/ James Macdonald	 

Name: James Macdonald

Title: Managing Director

 

 

SCHEDULE I

	 	 	 	 
	Stockholder	 	Shares of Common Stock
	Pangaea (a)
	 	At least 7,500,000	 
	Daniel M. Perlman
	 	2,551,613	 
	Argentum Capital Partners, L.P.
	 	905,632.56	 
	Argentum Capital Partners II, L.P.
	 	4,813,809.44	 
	The Productivity Fund IV, L.P.
	 	3,326,213.43	 
	The Productivity Fund IV Advisors Fund, L.P.
	 	127,914.42	 

 

(a) Actual number of shares to be purchased by Pangaea is not known as of date of this
Agreement. If Transactions are consummated as currently expected, at the Effective Date
Pangaea will own at least the number of shares indicated. However, there can be no assurance that
Pangaea will acquire any shares.

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