Document:

February 7, 2006

EarlyBirdCapital, Inc.
275 Madison Avenue
Suite 1203
New York, New York 10016

                  Re:  Ascend Acquisition Corp.
                       ------------------------

Gentlemen:

     This letter will confirm the agreement of the undersigned to purchase
warrants ("Warrants") of Ascend Acquisition Corp. ("Company") included in the
units ("Units") being sold in the Company's initial public offering ("IPO") upon
the terms and conditions set forth herein. Each Unit is comprised of one share
of Common Stock and two Warrants. The shares of Common Stock and Warrants will
not be separately tradable until 90 days after the effective date of the
Company's IPO unless EarlyBirdCapital, Inc. ("EBC") informs the Company of its
decision to allow earlier separate trading.

     The undersigned agrees that this letter agreement constitutes an
irrevocable order for EBC or an independent broker/dealer designated by EBC (in
either case, the "Broker") to purchase for the undersigned's account within the
three month period beginning on the later of (i) 60 days after the date the
distribution of the Units in the IPO has been completed and (ii) the
commencement of separate trading of the Warrants (such period is hereinafter
referred to as the "Purchase Period") up to $250,000 of Warrants at market
prices not to exceed $0.60 per Warrant ("Maximum Warrant Purchase"). The Broker
agrees to fill such order in such amounts and at such times as it may determine,
in its sole discretion, during the Purchase Period. The Broker further agrees
that it will not charge the undersigned any fees and/or commissions with respect
to such purchase obligation.

     The Broker will promptly notify the undersigned of any purchase of Warrants
hereunder so that the undersigned can comply with applicable reporting
requirements on a timely basis.

     The undersigned may notify the Broker that all or part of the Maximum
Warrant Purchase will be made by an affiliate of the undersigned (or another
person or entity introduced to the Broker by the undersigned (a "Designee")) who
(or which) has an account at the Broker and, in such event, the Broker will make
such purchase on behalf of said affiliate or Designee; provided, however, that
the undersigned hereby agrees to make payment of the purchase price of such
purchase in the event that the affiliate or Designee fails to make such payment.

     The undersigned agrees that neither he nor any affiliate or Designee shall
sell or transfer the Warrants until after the consummation of a merger, capital
stock exchange, asset acquisition or other similar business combination with an
operating business and acknowledges that, at the option of EBC, the certificates
for such Warrants shall contain a legend indicating such restriction on
transferability.

                                                     Very truly yours,

                                                     /s/ Don K. Rice
                                                     ---------------
                                                     Don K. RiceMarch 8, 2006

Ascend Acquisition Corp.
435 Devon Park Drive, Building 400
Wayne, Pennsylvania 19087

                  Re: Ascend Acquisition Corp. ("Company")
                      ------------------------------------

Gentlemen:

     Each of the undersigned hereby agrees to not propose, or vote in favor of,
an amendment to the Company's Certificate of Incorporation to extend the period
of time in which the Company must consummate a business combination (as is more
fully described in the Company's Prospectus relating to the Company's initial
public offering) prior to its liquidation. Should such a proposal be put before
stockholders other than through actions by any of the undersigned, each of the
undersigned hereby agrees to vote against such proposal. This agreement may not
be modified or amended under any circumstances.

                                                     Very truly yours,

                                                     /s/ Don K. Rice
                                                     ---------------
                                                     Don K. Rice

                                                     /s/ Russell C. Ball III
                                                     -----------------------
                                                     Russell C. Ball III

                                                     /s/ Stephen L. Brown
                                                     --------------------
                                                     Stephen L. Brown

                                                     /s/ Arthur Spector
                                                     ------------------
                                                     Arthur SpectorEXHIBIT
10.2

FORM OF SUBLICENSE AGREEMENT

This Sublicense
Agreement (this
‘‘Agreement’’) is entered
into as of [  ], 2006 (the
‘‘Effective Date’’), by and
between PADCO Advisors II, Inc., a Maryland corporation
(‘‘Licensor’’), and Rydex
Specialized Products LLC, a Delaware limited liability company
wholly-owned by Licensor
(‘‘Licensee’’).

WHEREAS,
Licensor and The Bank of New York
(‘‘BONY’’) entered into a
License Agreement, dated as of December  5,  2005 (the
‘‘BONY License Agreement’’),
whereby BONY granted Licensor a non-exclusive, non-transferable (except
as provided in Section 12.1 of the BONY License Agreement) license (the
‘‘BONY License’’) under the
BONY Patent Rights (as defined herein) solely for the purposes of
establishing, operating and marketing Licensed Products (as defined
herein); the BONY License permits Licensor to grant sublicenses to its
partners, co-sponsors, joint venturers, trustees, custodians and
agents, in connection with their establishment, operation and marketing
of Licensed Products;

WHEREAS, Licensor and Licensee entered
into a Sublicense Agreement, dated as of December  5,  2005
(the ‘‘Former Sublicense’’),
whereby Licensor granted a sublicense to Licensee a non-exclusive,
personal and non-transferable license to BONY Patent Rights in
connection with the Euro Currency Trust; and Licensor and Licensee
intend for this Agreement to supersede the Former Sublicense;

WHEREAS, the Euro Currency Trust was established pursuant to the
Depositary Trust Agreement entered into by and between Licensee and
BONY, dated as of December  5,  2005, pursuant to which the
Trust issues Euro CurrencyShares which represent units of fractional
undivided beneficial interest in and ownership of the Euro Currency
Trust;

WHEREAS, the CurrencyShares British Pound Sterling Trust
was established pursuant to the Depositary Trust Agreement entered into
by and between Licensee and BONY, dated as of
[     ], 2006, pursuant to
which the Trust will issue British Pound Sterling CurrencyShares which
represent units of fractional undivided beneficial interest in and
ownership of the CurrencyShares British Pound Sterling
Trust;

WHEREAS, the CurrencyShares Canadian Dollar Trust was
established pursuant to the Depositary Trust Agreement entered into by
and between Licensee and BONY, dated as of
[     ], 2006, pursuant to
which the Trust will issue Canadian Dollar CurrencyShares which
represent units of fractional undivided beneficial interest in and
ownership of the CurrencyShares Canadian Dollar Trust;

WHEREAS,
the CurrencyShares Australian Dollar Trust was established pursuant to
the Depositary Trust Agreement entered into by and between Licensee and
BONY, dated as of [     ],
2006, pursuant to which the Trust will issue Australian Dollar
CurrencyShares which represent units of fractional undivided beneficial
interest in and ownership of the CurrencyShares Australian Dollar
Trust;

WHEREAS, the Swiss Franc Trust was established pursuant to
the Depositary Trust Agreement entered into by and between Licensee and
BONY, dated as of [     ],
2006, pursuant to which the Trust will issue Swiss Franc CurrencyShares
which represent units of fractional undivided beneficial interest in
and ownership of the CurrencyShares Swiss Franc Trust;

WHEREAS,
the CurrencyShares Swedish Krona Trust was established pursuant to the
Depositary Trust Agreement entered into by and between Licensee and
BONY, dated as of [     ],
2006, pursuant to which the Trust will issue Swedish Krona
CurrencyShares which represent units of fractional undivided beneficial
interest in and ownership of the CurrencyShares Swedish Krona
Trust;

WHEREAS, the CurrencyShares Mexican Peso Trust was
established pursuant to the Depositary Trust Agreement entered into by
ad between Licensee and BONY, dated as of
[     ], 2006,

1

pursuant to which the Trust will issue Mexican
Person CurrencyShares which represent units of fractional undivided
beneficial interest in and ownership of the CurrencyShares Mexican Peso
Trust;

WHEREAS, Licensee is acting as the sponsor of all of the
aforementioned trusts (collectively, the
‘‘Trusts’’; the associated
agreements, the ‘‘Trust
Agreements’’; and the associated shares, the
‘‘Shares’’) and is
responsible for establishing the Trusts, registering the Shares and
overseeing the performance of the trustee of the Trusts;

WHEREAS,
pursuant to the terms and conditions of the BONY License Agreement,
Licensor desires to grant a sublicense to Licensee under the BONY
Patent Rights, with the right to grant sublicenses, solely for
Licensee’s use as the sponsor of the Trusts;

WHEREAS,
Licensor uses in commerce and owns in the United States all domain
names, trade names and trademark rights and associated goodwill in the
designations specified on Schedule 1 attached hereto (the
‘‘Licensor Marks’’); and

WHEREAS, Licensor desires to grant a license to Licensee to the
Licensor Marks, with the right to grant sublicenses, solely for
Licensee’s use as the sponsor of the Trusts;

NOW
THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Licensor and Licensee
agree as
follows:

1. DEFINITIONS.

For the
purposes of this Agreement, the following terms have the following
meanings:

(a.) ‘‘Affiliate’’
means, with respect to any Person, any other Person that, directly or
indirectly through one or more intermediaries, Controls, or is
Controlled by, or is under common Control with, such Person.

(b.) ‘‘BONY Patent
Rights’’ means any patents and patent
applications (and all related know-how and trade secrets) of BONY,
anywhere in the world, that cover an investment product that is based
solely on the securitization of a single non-U.S. currency and that
exist as of the effective date of the BONY License Agreement or are
filed or issued thereafter, including but not limited to U.S. Patent
Application No. 10/680,589 filed on October  6,  2003
entitled ‘‘Systems and Methods for Securitizing a
Commodity.’’

(c.) ‘‘Control’’
means, with respect to any Person, the possession, directly or
indirectly, of the power to direct or cause the direction of the
management or policies of a Person, whether through the ownership of
voting securities, by contract or
otherwise.

(d.) ‘‘Licensed
Products’’ means any investment product that is
based solely on the securitization of a single non-U.S. currency that
is sold, sponsored or issued by Licensee or any Affiliate of Licensee.
For the purposes of clarity, the Licensed Products do not include any
products involving the securitization of any commodity other than
non-U.S.
currency.

(e.) ‘‘Person’’
shall be construed broadly and shall include an individual, a
partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an
unincorporated organization or another entity, including a governmental
entity or any department, agency or political subdivision
thereof.

2. LICENSE.

(a.) BONY
Patent Rights Sublicense. Pursuant to Section 2 of the BONY
License Agreement and subject to the terms and conditions of this
Agreement, Licensor hereby grants to Licensee a non-exclusive, personal
and non-transferable (except as provided in Section 10(a)) license for
the term of this Agreement to use the BONY Patent Rights solely in
connection with Licensee’s performance of its services as
sponsor of the Trusts pursuant to the Trust Agreements (the
‘‘BONY
Sublicense’’).

(b.) Licensee’s
Limited Right to Sublicense. Each of the Licenses granted herein
shall include the limited right of Licensee to grant sublicenses to its
Affiliates, partners, co-sponsors, joint 

2

venturers, trustees, distributors, custodians
and agents (each a
‘‘Sublicensee’’), subject to
the restrictions of this Agreement, and solely in connection with such
Sublicensee’s performance of services for Licensee related to
the activities of Licensee permitted hereunder. In addition, Licensee
shall include provisions in all such sublicenses that: (i) are
identical in substance to Sections 3, 4 and 5 herein (with the
references in such sublicenses to
‘‘Licensor’’ in Section 4(c) to continue to
signify the Licensor defined herein); (ii) require Licensee to
terminate such sublicenses, without penalty, if this Agreement is
terminated for any reason; (iii) obligate Licensee to give the
Sublicensee notice if this Agreement is terminated for any reason; and
(iv) entitle Licensor herein to give such notice in the event that the
Licensee fails to do so.

(c.) All rights not specifically
and expressly granted to Licensee in this Article 2 are hereby reserved
to
Licensor.

3. ENFORCEMENT.

Licensee
shall promptly (a.) notify Licensor of any potential or actual
infringement by a third party of the BONY Patent Rights or the Licensor
Marks of which Licensee becomes aware, and (b.) provide to Licensor all
evidence of such infringement in Licensee’s possession, custody
or control. With respect to Licensor Marks, Licensor shall (y.) have
the sole right, but not the obligation, to initiate any legal action at
its own expense against such infringement and to recover damages and
enforce any injunction granted as a result of any judgment in
Licensor’s favor and (z.) Licensor shall have sole control over
any such action, including, without limitation, the sole right to
settle and compromise such action. In the event of a dispute between
Licensor and any third party regarding the infringement, validity or
enforceability of the BONY Patent Rights or the Licensor Marks,
Licensee agrees, at Licensor’s expense, to do all things
reasonably requested by BONY or Licensor to assist them in connection
with such dispute.

4. TERM AND
TERMINATION.

(a.) The term of this Agreement shall
commence as of the Effective Date and shall remain in full force and
effect until the termination of the last of the Trust Agreements to
terminate, unless earlier terminated pursuant to the terms of this
Agreement (the
‘‘Term’’).

(b.) Either
party may terminate this Agreement by written notice to the other party
at any time if the other party materially breaches this Agreement and
fails to cure such breach with thirty (30) days following written
notice thereof from the non-breaching party. Upon any termination or
expiration of this Agreement, all rights and obligations under this
Agreement (including Licensee’s rights under the Licenses
granted pursuant to Article 2) will immediately terminate; provided,
however, that the provisions of Articles 5, 6, 7, and 8, and any other
provision that survives by its express terms, shall survive any
termination or expiration of this Agreement.

(c.) On
expiration or termination of this Agreement, Licensee shall immediately
cease and desist from all use of the BONY Patent Rights and the
Licensor Marks, and any similar marks, and inventions or works based on
or derivative thereof; and shall immediately deliver all products
bearing or made in connection with the BONY Patent Rights or the
Licensor Marks, including without limitation all inventions or works
based on or derivative thereof, to Licensor at the address set forth in
the notice section below, or destroy them, at the option of
Licensor.

5. ACKNOWLEDGMENT OF
RIGHTS.

(a.) Licensee will not directly or
indirectly: (i) challenge or contest the validity or enforceability of
the BONY Patent Rights or the Licensor Marks; (ii) dispute the
validity, enforceability, or BONY’s ownership of any patent
within the BONY Patent Rights, any inventions or works based thereon or
derivative thereof, or any of the claims therein
(‘‘Patent Rights’’), or
initiate or participate in any proceeding of any kind opposing the
grant of any patent, or challenging any patent application in
connection with the Patent Rights; (iii) dispute the validity,
enforceability, or Licensor’s exclusive ownership of, any
trademark, trade name or domain name application or registration owned
by 

3

Licensor with respect to the Licensor Marks or
initiate or participate in any proceeding of any kind opposing the
grant to Licensor of any trademark, trade name, or domain name
registration in the Licensor Marks or similar marks; (iv) fail to meet
Licensor’s quality control with respect to the Licensor Marks or
make any other use thereof other than as expressly permitted herein;
(v) apply to register or otherwise obtain registration of the BONY
Patent Rights or any inventions or works based thereon or derivative
thereof, the Licensor Marks, or any marks similar thereto, in the
patent and trademark or copyright office of any country or state, or
with any business or domain name registrar; or (vi) assist any other
Person to do any of the foregoing (except if required by court order or
subpoena); provided, however, the foregoing shall in no way limit
Licensee’s ability to defend against or to mitigate any claim
brought by Licensor or BONY against Licensee.

(b.) Any
violation of this Article 5 will constitute a material breach of this
Agreement.

6. REPRESENTATIONS AND
WARRANTIES.

(a.) Each party hereby represents and
warrants that (i) it has the power and authority to enter into this
Agreement and perform its obligations hereunder; (ii) the execution and
delivery of this Agreement have been duly authorized and all necessary
actions have been taken to make this Agreement a legal, valid and
binding obligation of such party enforceable in accordance with its
terms; and (iii) the execution and delivery of this Agreement and the
performance by such party of its obligations hereunder will not
contravene or result in any breach of the certificate of incorporation,
bylaws, certificate of formation, limited liability company agreement
or any other organizational document of such party or of any agreement,
contract, indenture, license, instrument or understanding or, to the
best of its knowledge, result in any violation of law, rule,
regulation, statute, order or decree to which such party is bound or by
which they or any of their property is
subject.

(b.) Licensor represents and warrants that it
owns and/or has the right to sublicense to Licensee the BONY Patent
Rights and to license to Licensee the Licensor Marks in the United
States and that to its actual knowledge, the BONY Patent Rights and the
Licensor Marks and Licensee’s use of the foregoing in accordance
with this Agreement shall not infringe any copyright, trademark, trade
secret or other intellectual property right of any third party.

(c.) EXCEPT AS EXPRESSLY SET FORTH IN THE FOREGOING, LICENSOR
DOES NOT MAKE AND HEREBY EXPRESSLY DISCLAIMS ALL OTHER WARRANTIES,
EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, REGARDING THE SUBJECT
MATTER OF THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE.

7. LIMITATION OF
LIABILITY.

NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR
ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR OTHER
INDIRECT DAMAGES, HOWSOEVER CAUSED, WHETHER ARISING IN CONTRACT, TORT
OR OTHERWISE, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES.

8. MISCELLANEOUS
PROVISIONS.

(a.) Assignment. Licensee may
not assign or otherwise transfer (whether by operation of law or
otherwise) any right or obligation under this Agreement without the
prior written consent of Licensor; provided, however, that Licensee may
grant sublicenses as provided herein. Such consent shall be deemed
given with respect to an assignment or transfer (whether by operation
of law or otherwise) of the entire Agreement, including all rights and
obligations hereunder, to a successor in interest or assignee of
substantially all of the assets of Licensee, provided that Licensee has
given prompt written notice thereof to Licensor. This Agreement is
binding on and inures to the benefit of the parties and their permitted
successors and assigns. Any attempted assignment or other transfer of
rights under this Agreement in violation of this Section 10(a) will be
void.

4

(b.) Governing Law. This
Agreement shall be interpreted, construed and enforced in accordance
with the laws of the State of Maryland without reference to or
inclusion of the principles of choice of law or conflicts of law of
that jurisdiction (except that questions affecting the construction and
effect of any patent will be determined by the law of the country in
which the patent was granted). It is the intent of the parties that the
substantive law of the State of Maryland govern this Agreement and not
the law of any other jurisdiction incorporated through choice of law or
conflicts of law principles. Each party agrees that any legal action,
proceeding, controversy or claim between the parties arising out of or
relating to this Agreement may be brought and prosecuted only in the
United States District Court for the District of Maryland or, if that
Court lacks or declines to exercise subject matter jurisdiction, in the
courts of the State of Maryland, and by execution of this Agreement
each party hereto submits to the exclusive jurisdiction of such court
and waives any objection it might have based upon improper venue or
inconvenient forum. Each party hereto waives any right it may have to a
jury trial in connection with any legal action, proceeding, controversy
or claim between the parties arising out of or relating to the
Agreement.

(c.) Exclusive Jurisdiction and Venue.
Any action brought by either party that arises out of or relates to
this Agreement will be filed only in the state or federal courts
located in Maryland. Each party irrevocably submits to the jurisdiction
of those courts. Each party waives any objections that it may have now
or in the future to the jurisdiction of those courts, and also waives
any claim that it may have now or in the future that litigation brought
in those courts has been brought in an inconvenient forum.

(d.) Entire Agreement. This Agreement sets forth the
entire agreement of the parties as to its subject matter and supercedes
all prior agreements, negotiations, representations, and promises
between them with respect to its subject
matter.

(e.) Unenforceable Provisions. If any
provision of this Agreement is held unenforceable by a court of
competent jurisdiction, the other provisions will remain in full force
and effect. If legally permitted, the unenforceable provision will be
replaced with an enforceable provision that as nearly as possible gives
effect to the parties’
intent.

(f.) Notices. A notice under this
Agreement is not sufficient unless it is: (i) in writing; (ii)
addressed using the contact information listed below for the party to
which the notice is being given (or using updated contact information
which that party has specified by written notice in accordance with
this Article); and (iii) sent by hand delivery, facsimile transmission,
registered or certified mail (return receipt requested), or reputable
express delivery service with tracking capabilities (such as Federal
Express).

    
CONTACT INFORMATION FOR
LICENSOR:
    
PADCO Advisors II, Inc.
9601 Blackwell
Road, Suite 500
Rockville, Maryland 20850
Attention: Carl G.
Verboncoeur
Telephone: (301) 296-5100
Facsimile:
301-296-5112

    
CONTACT INFORMATION FOR
LICENSEE:
    
Rydex Specialized Products LLC
9601
Blackwell Road, Suite 500
Rockville, Maryland 20850
Attention:
Timothy Meyer
Telephone: (301) 296-5129
Facsimile: (301)
296-5112

5

(g.) Amendments. This
Agreement may not be amended unless the amendment is in writing and
signed by authorized representatives of both parties.

(h.) Waivers. A waiver of rights under this
Agreement will not be effective unless it is in writing and signed by
an authorized representative of the party that is waiving the
rights.

(i.) Counterparts. The parties may
execute this Agreement by signing separate copies of the signature
page. A facsimile copy of the signature page will have the same effect
as the original.

[REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK; SIGNATURE PAGE FOLLOWS]

6

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their duly authorized
representatives.

		PADCO ADVISORS II,
INC.

		By:____________________

		Name:__________________

		Title:
             

		RYDEX
SPECIALIZED PRODUCTS LLC

		By:
             

		Name:__________________

		Title:
             

7

SCHEDULE 1

LICENSOR
MARKS

Rydex
 Rydex
Investments
FXE
FXB
CurrencyShares

currencyshares.com
[Rydex to
complete]

8

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