Document:

January
        19, 2007

      

      Industrial
        Services Acquisition Corp.

      c/o
        AMCO
        Distribution Services, Inc.

      2807
        El
        Presidio Street

      Carson
        CA
        90810

      

      Maxim
        Group LLC

      As
        representative of the several Underwriters

      405
        Lexington Avenue

      New
        York,
        NY 10174

      

      Re:
         Initial
        Public Offering

       

      Ladies
        and Gentlemen:

       

      The
        undersigned director of Industrial Services Acquisition Corp. (“Company”), in
        consideration of Maxim Group LLC (“Maxim”) entering into a letter of intent
        (“Letter of Intent”) to underwrite an initial public offering (“IPO”) of the
        Company’s units (“Units”), each comprised of one share of the Company’s common
        stock, par value $.0001 per share (“Common Stock”), and one warrant exercisable
        for one share of Common Stock (“Warrant”) and embarking on the IPO process,
        hereby agrees as follows (certain capitalized terms used herein are defined
        in
        Schedule 1 hereto):

       

      1. If
        the
        Company solicits approval of its stockholders of a Business Combination,
        the
        undersigned shall (i) vote all Insider Shares owned by such person in accordance
        with the majority of the votes cast by the holders of the IPO Shares and
        (ii)
        vote any and all shares of Common Stock acquired in or following the IPO
        in
        favor of the Business Combination.

      

      2. If
        a
        Transaction Failure occurs, the undersigned shall take all reasonable actions
        within such person’s power to cause (i) the Trust Fund to be liquidated and
        distributed to the holders of the IPO shares as soon as reasonably practicable
        and in any event no later than the Termination Date, and (ii) the Company
        to
        dissolve and liquidate as soon as practicable (the earliest date on which
        the
        conditions in clauses (i) and (ii) are both satisfied being the “Liquidation
        Date”). The undersigned hereby waives any and all right, title, interest or
        claim of any kind in or to any liquidating distributions by the Company,
        including, without limitation, any distribution of the Trust Fund as a result
        of
        such liquidation with respect to such person’s Insider Shares (“Claim”) and
        hereby further 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
        agrees to not seek recourse against the Trust Fund for any reason whatsoever.
        The undersigned hereby agrees that the Company shall be entitled to a
        reimbursement from the undersigned for any distribution of the Trust Fund
        received by the undersigned in respect of such person’s Insider
        Shares.

      

      3. In
        order
        to minimize potential conflicts of interest which may arise from multiple
        affiliations, the undersigned agrees to present to the Company for its
        consideration, prior to the undersigned’s exploitation of that opportunity in
        any way or the presentation to any other person or entity, any suitable
        opportunity to acquire all or substantially all of the outstanding equity
        securities of, or otherwise acquire (through merger, capital stock exchange,
        asset acquisition or other business combination) an operating business until
        the
        earlier of the consummation by the Company of a Business Combination, the
        distribution
        of the Trust Fund,
        the
        dissolution of the Company or until such time as the undersigned ceases to
        be an
        officer or director of the Company; provided,
        however,
        that
        the presentation of such opportunities to the Company shall in each case
        be
        subject to any fiduciary and/or contractual obligations the undersigned might
        have.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4.
         The
        undersigned acknowledges and agrees that the Company will not consummate
        any
        Business Combination which involves a company which is affiliated with any
        of
        the Insiders unless the Company obtains an opinion from an independent
        investment banking firm that is a member of the National Association of
        Securities Dealers, Inc. that the business combination is fair to the Company’s
        stockholders from a financial perspective.

      

      5. Neither
        the undersigned, any member of the Immediate Family of the undersigned, nor
        any
        Affiliate of the undersigned will be entitled to receive and will not accept
        any
        compensation for services rendered to the Company prior to, or in connection
        with, the consummation of the Business Combination; provided that (i) the
        undersigned shall be entitled to repayment by the Company of all unpaid
        principal and interest outstanding under the loans made to the Company as
        described in the Prospectus, and (ii) commencing on the Effective Date, AMCO
        Distribution Services, Inc. (“Related Party”), shall be allowed to charge the
        Company up to $7,500 per month, representing an allocable share of Related
        Party’s overhead, to compensate it for the Company's use of Related Party's
        offices, utilities and personnel. The undersigned shall be entitled to
        reimbursement from the Company for their out-of-pocket expenses incurred
        in
        connection with seeking and consummating a Business Combination.

      

      6. The
        undersigned agrees that neither the undersigned, any member of the Immediate
        Family of the undersigned, or any Affiliate of the undersigned will be entitled
        to receive or accept, and the undersigned, on behalf of the undersigned and
        the
        aforementioned parties, hereby waives any rights to, a finder’s fee or any other
        compensation in the event the undersigned, any member of the Immediate Family
        of
        the undersigned or any Affiliate of the undersigned originates a Business
        Combination.

       

      7. The
        undersigned agrees to be a member of the Board of Directors of the Company
        until
        the earlier of the consummation by the Company of a Business Combination
        or the
        liquidation of the Trust Fund or the dissolution of the Company.  The
        undersigned’s biographical information furnished to the Company and Maxim 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 Section 401 of Regulation S-K,
        promulgated under the Securities Act of 1933.  The undersigned’s
        Questionnaire furnished to the Company and Maxim is true and accurate in
        all
        respects.  The undersigned further represents and warrants to the Company
        and Maxim that:

      

      (a) The
        undersigned 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;

       

      (b) The
        undersigned 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 such person is not currently a defendant in any such criminal proceeding;
        and

       

      (c) The
        undersigned 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.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      8. The
        undersigned has full right and power, without violating any agreement by
        which
        the undersigned is bound, to enter into this letter agreement and to serve
        as a
        member of the Board of Directors of the Company.

      

      9. The
        undersigned acknowledges and understands that Maxim and the Company will
        rely
        upon the agreements, representations and warranties set forth herein in
        proceeding with the IPO.

      

      10. 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 Business Combination
        Date
        and (ii) the Termination Date; provided,
        however,
        that
        any such termination shall not relieve the undersigned from any liability
        resulting from or arising out of any breach of any agreement or covenant
        hereunder occurring prior to the termination of this letter
        agreement.

       

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

      

      12. This
        letter agreement shall be governed by and interpreted and construed in
        accordance with the laws of the State of New York applicable to contracts
        formed
        and to be performed entirely within the State of New York, without regard
        to the
        conflicts of law provisions thereof to the extent such principles and rules
        would require or permit the application of the laws of another jurisdiction.
        The
        undersigned hereby agrees that any action, proceeding or claim against the
        undersigned arising out of or relating in any way to this Agreement shall
        be
        brought and enforced in the courts of the State of New York or the United
        States
        District Court for the Southern District of New York, and irrevocably submits
        to
        such jurisdiction, which jurisdiction shall be exclusive. The undersigned
        hereby
        waives any objection to such exclusive jurisdiction and that such courts
        represent an inconvenience forum.

       

      13. No
        term
        or provision of this letter agreement may be amended, changed, waived, altered
        or modified except by written instrument executed and delivered by the party
        against whom such amendment, change, waiver, alteration or modification is
        to be
        enforced.

      

      

      

      [The
        remainder of this page intentionally left blank]

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	 	
                Name:
                  Gilad Kalter 

              
	 	
                 

              
	 	
                Signature:             
                  /s/ Gilad
                  Kalter           

              

      

      

      Accepted
        and agreed:

      

      MAXIM
        GROUP LLC

      

       

      By:  /s/
        Paul
        LaRosa       

      Name:
        Paul LaRosa

      Title:
        Managing Director

       

      Accepted
        and agreement:

       

      INDUSTRIAL
        SERVICES ACQUISITION CORP.

       

      By:
         /s/
        Mark McKinney       

      Name:
        Mark McKinney 

      Title:
        Chief Executive Officer

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SCHEDULE
        1

      

      SUPPLEMENTAL
        COMMON DEFINITIONS

      

      Unless
        the contact shall otherwise require, the following terms shall the following
        respective meanings for all purposes, and the following definitions are equally
        applicable to both the singular and the plural forms and the feminine, masculine
        and neuter forms of the terms defined.

      

      “Business
        Combination”
        shall
        mean the acquisition by the Company, whether by merger, capital stock exchange,
        asset acquisition or other similar business combination, of one or more
        operating businesses, having, collectively, a fair market value equal to
        at
        least 80% of the Company’s net assets at the time of such merger, capital stock
        exchange, asset acquisition or other similar business combination.

      

      “Business
        Combination Date”
        shall
        mean the date upon which a Business Combination is consummated.

      

      “Effective
        Date”
        shall
        mean the date upon which the Registration Statement is declared effective
        under
        the Securities Act of 1933, as amended, by the SEC.

      

      “Immediate
        Family”
        shall
        mean, with respect to any person, such person’s spouse, lineal descendents,
        father, mother, brothers or sisters (including any such relatives by adoption
        or
        marriage).

      

      “Insiders”
        shall
        mean all of the officers, directors and stockholders of the Company immediately
        prior to the Company’s IPO.

      

      “Insider
        Shares”
        shall
        mean all shares of Common Stock of the Company owned by an Insider immediately
        prior to the Company’s IPO. For the avoidance of doubt, Insider Shares shall not
        include any IPO Shares purchased by Insiders in connection with or subsequent
        to
        the Company’s IPO.

      

      “IPO
        Shares”
        shall
        mean all shares of Common Stock issued by the Company in its IPO, regardless
        of
        whether such shares were issued to an Insider or otherwise.

      

      “Prospectus”
        shall
        mean the final prospectus filed pursuant to Rule 424(b) under the Securities
        Act
        of 1933, as amended, and included in the Registration Statement.

      

      “Registration
        Statement”
        shall
        mean the registration statement filed by the Company on Form S-1 with the
        SEC,
        and any amendment or supplement thereto, in connection with the Company’s
        IPO.

      

      “SEC”
        shall
        mean the United Stated Securities and Exchange Commission.

      

      “Transaction
        Failure”
        shall
        mean the earlier of (i) the failure to enter into a letter of intent, definitive
        agreement or agreement in principal with respect to a Business Combination
        on
        any day during the eighteen-month period immediately following the Effective
        Date, and (ii) the failure to consummate a Business Combination on any day
        during the twenty-four-month period immediately following the Effective Date.
        

      

      “Transaction
        Failure Date”
        shall
        mean if a Transaction Failure first occurs as a result of the failure described
        in clause (i) of the definition of “Transaction Failure”, the eighteen-month
        anniversary of the Effective Date, and if a Transaction Failure first occurs
        as
        a result of the failure described in clause (ii) of the definition of
“Transaction Failure”, the second anniversary of the Effective Date.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      “Trust
        Fund”
        shall
        mean that certain trust account established with Continental Stock Transfer
        & Trust Company, as trustee, and in which the Company deposited the “funds
        to be held in trust,” as described in the Prospectus.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXHIBIT
        A

      

      BIOGRAPHY

      

      

      Gilad
        Kalter has
        been
        a member of our board of directors since September 1, 2006. Since 2005, Mr.
        Kalter has been working at the Platinum Partners Value Arbitrage Fund, LP
        (“PPVA)”, a multi strategy hedge fund designed to achieve superior risk-adjusted
        returns. Mr. Kalter currently serves as a Portfolio Manager and the Senior
        Vice
        President of PPVA. Since October 2005, Mr. Kalter has also been a principal
        of
        the Platinum Credit Group LLC, a New York based hedge fund specializing in
        originating secured, high yield, debt instruments. From 2003 to 2005, Mr.
        Kalter
        practiced corporate law as an associate in the Corporate Department of
        McDermott, Will & Emery, LLP, in New York. Mr. Kalter received a BA from
        Yeshiva University and a JD degree from New York University Law School. Mr.
        Kalter is admitted to practice law in the State of New York and is a member
        of
        the New York State Bar Association and American Bar Association.INVESTMENT
      MANAGEMENT TRUST AGREEMENT

    

    This
      Agreement is made as of _____, 2007 by and between INDUSTRIAL SERVICES
      ACQUISITION CORP. (the “Company”)
      and
      CONTINENTAL STOCK TRANSFER & TRUST COMPANY (the “Trustee”).

    

    WHEREAS,
      the
      Company’s Registration Statement on Form S-1, File No. 333-127753 (the
“Registration
      Statement”),
      for
      its initial public offering of securities (the “IPO”)
      has
      been declared effective as of the date hereof by the Securities and Exchange
      Commission (the “Effective
      Date”);
      and

    

    WHEREAS,
      the
      Company has agreed to issue securities in a private placement immediately prior
      to the IPO (the “Placement”);
      and

    

    WHEREAS,
      Maxim
      Group LLC (“Maxim”)
      is
      acting as the representative of the underwriters (the “Underwriters”)
      in the
      IPO and as placement agent for the Placement; and

    

    WHEREAS,
      as
      described in the Company’s Registration Statement, and in accordance with the
      Company’s Third Amended and Restated Certificate of Incorporation, (i)
$32,000,000
      of the net proceeds of the IPO and the Private Placement ($36,800,000 if the Underwriters’ over-allotment
      option is exercised in full), (ii) in accordance with the Placement Unit
      Agreement, dated as of _____, 2007, among the Company, Maxim and certain
      purchasers, $2,247,629 of the net proceeds of the Placement (together with
      the
      IPO proceeds, the “Base
      Deposit”)
      and
      (iii) in accordance with the Underwriting Agreement, dated as of _____, 2007,
      between the Company and Maxim, as representative of the Underwriters (the
“Underwriting
      Agreement”)
      an
      additional $960,000 ($1,104,000 if the Underwriters’ over-allotment option is
      exercised in full), representing a contingent discount (the “Contingent
      Discount”),
      will
      be delivered to the Trustee to be deposited and held in a trust account for
      the
      benefit of the Company, the public holders of the Common Stock, par value $.0001
      per share, of the Company (“Common
      Stock”)
      included in the units of the Company’s securities issued in the IPO (the
“Units”)
      and
      Maxim and, in the event the Units are registered in Colorado, pursuant to
      Section 11-51-302(6) of the Colorado Revised Statutes, a copy of which statute
      is attached hereto and made a part hereof. The amount to be delivered to the
      Trustee will be referred to herein as the “Property,” the stockholders for whose
      benefit the Trustee shall hold the Property will be referred to as the “Public
      Stockholders,” and the Public Stockholders, the Company and Maxim will be
      referred to together as the “Beneficiaries”);
      and

    

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

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and the mutual covenants and agreements herein
      contained, the parties hereto agree as follows:

    

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

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (a)
       Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement, including the terms of Section 11-51-302(6) of the Colorado Revised
      Statutes with respect to Public Stockholders resident in Colorado, in a
      segregated trust account (“Trust
      Account”)
      established by the Trustee at a branch of Lehman Brothers Inc. selected by
      the
      Trustee;

    

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

    

    (c) In
      a
      timely manner, upon the instruction of the Company, to invest and reinvest
      the
      Property in “government securities” within the meaning of Section 2(a)(16) of
      the Investment Company Act of 1940 having a maturity of 180 days or less or
      in
      any open ended investment company registered under the Investment Company Act
      of
      1940 that holds itself out as a money market fund meeting the conditions of
      paragraphs (c)(2), (c)(3) and (c)(4) under Rule 2a-7 promulgated under the
      Investment Company Act of 1940;

    

    (d) Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,”
as
      such term is used herein;

    

    (e) Promptly
      notify the Company and Maxim of all communications received by it with respect
      to any Property requiring action by the Company;

    

    (f) Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Trust
      Account;

    

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

    

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

     

    (i) Commence
      liquidation of the Trust Account upon receipt of the Officers’ Certificate of
      the Company signed by the Chief Executive Officer or Chief Financial Officer
      and
      Secretary in accordance with the terms of a letter (“Termination
      Letter”),
      in a
      form substantially similar to that attached hereto as Exhibit
      A
      or
Exhibit
      B,
      signed
      on behalf of the Company by its Chief Executive Officer or Chief Financial
      Officer and Secretary and affirmed by its entire Board of Directors, and
      complete the liquidation of the Trust Account and distribute the Property in
      the
      Trust Account only as directed in the Termination Letter and the other documents
      referred to therein as part of the Company’s plan of dissolution and
      distribution approved by the Company’s stockholders. The Trustee understands and
      agrees that, except as provided in Section 1(j) and Section 2, disbursements
      from the Trust Account shall be made only pursuant to a duly executed
      Termination Letter, together with the other documents referenced herein,
      including, without limitation, an independently certified oath and report of
      inspector of election in respect of the stockholder vote in favor of the
      Business Combination (as hereinafter defined). In all cases, the Trustee shall
      provide Maxim with a copy of any Termination Letters, Officers’ Certificates
      and/or any other correspondence that it receives with respect to any proposed
      withdrawal from the Trust Account promptly after it receives same. As used
      in
      this Agreement, the term “Business
      Combination”
means
      the acquisition by the Company, through merger, capital stock exchange, asset
      or
      stock acquisition of, or similar business combination with, one or more entities
      with agreements to acquire operating entities or assets in the publishing
      industry located in the United States as more fully described in the prospectus
      forming a part of the Registration Statement; and

    

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    (j)
      As of
      the date 18 months from the date of this Agreement (the “LOI
      Termination Date”)
      (or 24
      months from the date hereof in the event the Company has executed a Letter
      of
      Intent (defined below) prior to the LOI Termination Date but failed to
      consummate a Business Combination (“Second
      Termination Date”)),
      commence liquidation of the Trust Account as part of the Company’s plan of
      dissolution and distribution approved by the Company’s stockholders. The
      Trustee, upon consultation with the Company and Maxim, shall deliver a notice
      to
      Public Stockholders of record as of the LOI Termination Date or Second
      Termination Date, whichever the case may be, by U.S. mail or via the Depository
      Trust Company (“DTC”),
      within five days of the LOI Termination Date or Second Termination Date, to
      notify the Public Stockholders of such event and take such other actions as
      it
      may deem necessary to inform the Beneficiaries. The Trustee shall deliver to
      each Public Stockholder its ratable share of the Property against satisfactory
      evidence of delivery of the stock certificates by the Public Stockholders to
      the
      Company through DTC, its Deposit Withdraw Agent Commission (DWAC) system or
      as
      otherwise presented to the Trustee. Notwithstanding the foregoing, if the
      Trustee receives a bona fide, executed letter of intent, agreement in principle
      or engagement letter (a “Letter
      of Intent”)
      for a
      Business Combination prior to the LOI Termination Date accompanied by an
      Officers’ Certificate as described in Section 1(i), then the Trustee shall
      forego or suspend any liquidation of the Trust Account until the earlier of
      a
      Business Combination or the Second Termination Date.

    

    2. Limited
      Distributions of Income.
      

    

    (a)
      Upon
      receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive
      Officer or the Chief Financial Officer and Secretary of the Company certifying
      as true, accurate and complete a copy of any tax return required to be filed
      on
      behalf of the Trust Account in respect of income earned on the Property held
      therein, the Trustee shall deliver to the Company for submission to the
      appropriate taxing authority a check made payable to the order of such taxing
      authority in the amount required to pay such taxes; provided, however,
      that in
      no event shall the aggregate amount of all checks issued to taxing authorities
      pursuant to this Section 2(a) exceed the income in respect of which such taxes
      are due and owing.

    

    (b)
      Upon
      written request, which may be given not more than once in any calendar quarter,
      from the Company, the Trustee shall distribute to the Company an amount equal
      to
      the income earned on the Property; provided, however,
      that
      any distribution pursuant to this Section 2(b) shall only be used to fund
      working capital requirements of the Company and the costs related to
      identifying, researching and acquiring prospective target businesses (including
      the payment of up to $7,500 of fees payable to AMCO Distribution Services,
      Inc.
      for general and administrative services) as set forth in the Company’s request;
      provided, further, that the aggregate amount of distributions made pursuant
      to
      this Section 2(b) shall not exceed $1,150,000. 

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    (c)
      Upon
      receipt by the Trustee of an Officer’s Certificate signed by the Chief Executive
      Officer or the Chief Financial Officer and Secretary of the Company certifying
      as true, accurate and complete (i) the amount of actual expenses incurred by
      the
      Company in connection with its dissolution and distribution, including any
      fees
      and expenses incurred by the Company in connection with seeking stockholder
      approval of the Company’s plan of dissolution and distribution, and (ii) any
      amounts due to pay creditors or to reserve for payment to creditors, the Trustee
      shall distribute to the Company an amount equal to the income earned on the
      Property in excess of the amounts distributed pursuant to Section 2(b) in the
      respective quarter; provided, however,
      that
      any distribution pursuant to this Section 2(c) shall only be used to fund the
      amount of actual expenses incurred by the Company in connection with its
      dissolution and distribution, including any fees and expenses incurred by the
      Company in connection with seeking stockholder approval of the Company’s plan of
      dissolution and distribution.

    

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

    

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

    

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

    

    (b) Hold
      the
      Trustee harmless and indemnify the Trustee from and against, any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross negligence or willful misconduct. Promptly after the receipt by the
      Trustee of notice of demand or claim or the commencement of any action, suit
      or
      proceeding, pursuant to which the Trustee intends to seek indemnification under
      this paragraph, it shall notify the Company in writing of such claim
      (hereinafter referred to as the “Indemnified
      Claim”).
      The
      Trustee shall have the right to conduct and manage the defense against such
      Indemnified Claim, provided,
      that
      the Trustee shall obtain the consent of the Company with respect to the
      selection of counsel, which consent shall not be unreasonably withheld. The
      Trustee may not agree to settle any Indemnified Claim without the prior written
      consent of the Company. The Company may participate in such action with its
      own
      counsel; and

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    (c) Pay
      the
      Trustee an initial acceptance fee of $1,000 and an annual fee of $3,000 (it
      being expressly understood that the Property shall not be used to pay such
      fee).
      The Company shall pay the Trustee the initial acceptance fee and first year’s
      fee at the consummation of the IPO and thereafter on the anniversary of the
      Effective Date. The Trustee shall refund to the Company the fee (on a pro rata
      basis) with respect to any period after the liquidation of the Trust Fund.
      The
      Company shall not be responsible for any other fees or charges of the Trustee
      except as may be provided in Section 3(b) (it being expressly understood that
      the Property shall not be used to make any payments to the
      Trustee).

    

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

    

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

    

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

    

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

    

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

    

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

    

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

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    (g) Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement unless an officer
      of the Trustee has actual knowledge thereof, written notice of such event is
      sent to the Trustee or as otherwise required under Section 1(i);
      and

    

    (h) Pay
      any
      taxes on behalf of the Trust Account (it being expressly understood that the
      Trustee’s sole obligation with respect to taxes shall be to issue the checks
      with respect thereto provided for by Section 2(a)).

    

    5. Certain
      Rights Of Trustee.

     

    (a) Before
      the Trustee acts or refrains from acting, it may require an Officers’
Certificate or opinion of counsel or both. The Trustee shall not be liable
      for
      any action it takes or omits to take in good faith in reliance on such Officers’
Certificate or opinion of counsel. The Trustee may consult with counsel and
      the
      advice of such counsel or any opinion of counsel shall be full and complete
      authorization and protection from liability in respect of any action taken,
      suffered or omitted by it hereunder in good faith and in reliance
      thereon.

     

    (b) The
      Trustee shall not be liable for any action it takes or omits to take in good
      faith that it believes to be authorized or within the rights or powers conferred
      upon it by this Agreement.

     

    (c) The
      Trustee shall not be responsible for and makes no representation as to the
      validity or adequacy of this Agreement; it shall not be accountable for the
      Company’s use of the proceeds from the Trust Account. Notwithstanding the
      effective date of this Agreement or anything to the contrary contained in this
      Agreement, the Trustee shall have no liability or responsibility for any act
      or
      event relating to this Agreement or the transactions related thereto which
      occurs prior to the date of this Agreement, and shall have no contractual
      obligations to the Beneficiaries until the date of this Agreement.

    

    6. Termination.
      This
      Agreement shall terminate as follows:

    

    (a) If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee,
      during
      which time the Trustee shall continue to act in accordance with the terms of
      this Agreement.
      At such
      time that the Company notifies the Trustee that a successor trustee has been
      appointed by the Company and has agreed to become subject to the terms of this
      Agreement, the Trustee shall transfer the management of the Trust Account to
      the
      successor trustee, including but not limited to the transfer of copies of the
      reports and statements relating to the Trust Account, whereupon this Agreement
      shall terminate; provided,
      however,
      that,
      in the event that the Company does not locate a successor trustee within ninety
      days of receipt of the resignation notice from the Trustee, the Trustee may,
      but
      shall not be obligated to, submit an application to have the Property deposited
      with the United States District Court for the Southern District of New York
      and
      upon such deposit, the Trustee shall be immune from any liability whatsoever
      that arises due to any actions or omissions to act by any party after such
      deposit;

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

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

     

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

    

    7. Miscellaneous.

    

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

    

    (b) This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to conflict of laws. It
      may
      be executed in several counterparts, each one of which shall constitute an
      original, and together shall constitute but one instrument. Facsimile signatures
      shall constitute original signatures for all purposes of this
      Agreement.

     

    (c) This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. This Agreement or any provision
      hereof may only be changed, amended or modified by a writing signed by each
      of
      the parties hereto; provided;
      however,
      that no
      such change, amendment or modification may be made without the prior written
      consent of Maxim, who, along with the other Underwriters, the parties
      specifically agree, are and shall be third-party beneficiaries for purposes
      of
      this Agreement; provided,
      further,
      that
      any amendment to Section 1(j) shall require the consent of all of the Public
      Stockholders. As to any claim, cross-claim or counterclaim in any way relating
      to this Agreement, each party waives the right to trial by jury.

     

    (d) The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the State and County of New York for purposes of resolving
      any
      disputes hereunder. The parties hereto irrevocably submit to such jurisdiction,
      which jurisdiction shall be exclusive and hereby waive any objection to such
      exclusive jurisdiction and that such courts represent an inconvenient
      forum.

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

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

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Chairman

    

    with
      a
      copy in each case to:

    

    Mintz,
      Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

    666
      Third
      Avenue

    New
      York,
      New York 10017

    Attn:
      Kenneth R. Koch, Esq.

    

    and

    

    in
      either
      case with a copy to:

    

    Maxim
      Group LLC

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn:
      Clifford Teller

    Fax
      No.:
      (212) 895-3783

    

    (f) This
      Agreement may not be assigned by the Trustee without the prior written consent
      of the Company and Maxim.

    

    (g) Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder. 

    

    (h) The
      Trustee hereby waives any and all right, title, interest or claim of any kind
      (“Claim”)
      in or
      to any distribution of the Trust Account, and hereby agrees not to seek
      recourse, reimbursement, payment or satisfaction for any Claim against the
      Trust
      Account for any reason whatsoever.

    

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

    

    

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    

    

    [Remainder
      of Page Intentionally Left Blank.]

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

    

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

    

    
      	 	
              CONTINENTAL
                STOCK TRANSFER & TRUST 

            
	 	
              COMPANY,
                as Trustee

            
	 	 
	 	 
	 	 
	 	
              By:
                

            
	 	
               

            
	 	
              Name:
                Steven G. Nelson

            
	 	
              Title:  
                Chairman and President

            
	 	 
	 	 
	 	 
	 	
              INDUSTRIAL
                SERVICES ACQUISITION CORP.

            
	 	 
	 	 
	 	
              By:
                

            
	 	
               

            
	 	
              Name:
                Mark McKinney

            
	 	
              Title:  
                Chief Executive Officer

            
	 	 

    

    

    

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

    

    EXHIBIT
      A

    

    [LETTERHEAD
      OF COMPANY]

    

    [INSERT
      DATE]

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Chairman

    

    Re:
       Trust
      Account No. _______________ Termination Letter

    

    Gentlemen:

    

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between
      Industrial Services Acquisition Corp. (“Company”)
      and
      Continental Stock Transfer & Trust Company (“Trustee”),
      dated
      as of _____, 2007 (“Trust
      Agreement”),
      this
      is to advise you that the Company has entered into an agreement (“Business
      Agreement”)
      with
      __________________ (“Target
      Business”)
      to
      consummate a business combination with Target Business (a “Business
      Combination”)
      on or
      about [INSERT DATE]. The Company shall notify you at
      least
      two business days in advance of the actual date of the consummation of the
      Business Combination (“Consummation
      Date”)
      and
      shall provide you with an Officers’ Certificate in accordance with Sections 1(i)
      and 3(a) of the Trust Agreement. Capitalized words used herein and not otherwise
      define shall have the meaning ascribed to them in the Trust
      Agreement.

    

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

    

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that (a) the Business Combination shall be consummated immediately
      after the receipt of the funds from the Trust Account, and (b) the provisions
      of
      Section 11-51-302(6) and Rule 51-3.4 of the CRS have been met, to the extent
      applicable; (ii) the Company shall deliver along with the oath and report of
      inspector of election certified by an independent inspector which may be the
      Trustee or as otherwise appointed by the Company (collectively, the
“Report”);
      and
      (iii) the Company and Maxim shall deliver to you joint written instructions
      with
      respect to the transfer of the funds, including the Contingent Fee and the
      Contingent Discount, held in the Trust Account (“Instructions”).
      You
      are hereby directed and authorized to transfer the funds held in the Trust
      Account immediately upon your receipt of the counsel’s letter, the Report,
      evidence of delivery of the Stock Certificates, the Officers’ Certificate and
      the Instructions in accordance with the terms of the Instructions. In the event
      that certain deposits held in the Trust Account may not be liquidated by the
      Consummation Date without penalty, you will notify the Company and Maxim of
      the
      same and the Company and Maxim shall issue joint written instructions directing
      you as to whether such funds should remain in the Trust Account and be
      distributed after the Consummation Date. Upon the distribution of all the funds
      in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
      be
      terminated and the Trust Account closed.

    

    
      
         

      

      
        A-1

        
          

        

      

      
         

      

    

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

    

    

    
      	 	
              Very
                truly yours,

            
	 	 
	 	
              INDUSTRIAL
                SERVICES ACQUISITION CORP.

            
	 	 
	 	 
	 	 
	 	
              By:

            
	 	
               

            
	 	
              Name:

            
	 	
              Title:

            
	 	 
	 	
              By:

            
	 	
               

            
	 	
              Name:

            
	 	
              Title:

            

    

    

    cc: Maxim
      Group LLC

    
      
         

      

      
        A-2

        
          

        

      

      
         

      

    

    

    EXHIBIT
      B

    

    

    [LETTERHEAD
      OF COMPANY]

    

    [INSERT
      DATE]

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      Chairman

    

    Re: Trust
      Account No. _______________ Termination Letter

    

    Gentlemen:

    

    Pursuant
      to paragraph 1(i) of the Investment Management Trust Agreement between
      Industrial Services Acquisition Corp. (“Company”)
      and
      Continental Stock Transfer & Trust Company (“Trustee”),
      dated
      as of _____, 2007 (“Trust
      Agreement”),
      this
      is to advise you that the Board of Directors and the stockholders of the Company
      have voted to dissolve the Company and liquidate the Trust Account (as defined
      in the Trust Agreement). Attached hereto is a copy of the minutes of the meeting
      of the Board of Directors and the stockholders of the Company relating thereto,
      certified by the Secretary of the Company as true and correct and in full force
      and effect.

    

    In
      accordance with the terms of the Trust Agreement, we hereby (a) certify to
      you
      that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado
      Revised Statute have been met and (b) authorize you, to commence liquidation
      of
      the Trust Account as part of the Company’s plan of dissolution and distribution.
      You will notify the Company and Lehman Brothers Inc. in writing as to when
      all
      of the funds in the Trust Account will be available for immediate transfer
      (‘Transfer Date’). Thereafter, you shall commence distribution of such funds in
      accordance with the terms of the Trust Agreement and the Company’s Third Amended
      and Restated Certificate of Incorporation. Upon the payment of all the funds
      in
      the Trust Account, the Trust Agreement shall be terminated and the Trust Account
      closed.

    

    

    

    [Remainder
      of Page Intentionally Left Blank]

    
      
         

      

      
        B-1

        
          

        

      

      
         

      

    

    
      

      
        	 	
                Very
                  truly yours,

              
	 	 
	 	
                INDUSTRIAL
                  SERVICES ACQUISITION CORP.

              
	 	 
	 	 
	 	
                By:

              
	 	
                 

              
	 	
                Name:

              
	 	
                Title:

              
	 	 
	 	
                By:

              
	 	
                 

              
	 	
                Name:

              
	 	
                Title:

              

      

    

    

    cc: Maxim
      Group LLC

    

    
      
         

      

      
        B-2

        
          

        

      

      
         

      

    

    EXHIBIT
      C

    

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

            	 	
              AUTHORIZED

            
	
              FOR
                TELEPHONE CALL BACK

            	 	
              TELEPHONE
                NUMBER(S)

            
	 	 	 
	 	 	 
	
              COMPANY:

            	 	 
	 	 	 
	
              Industrial
                Services Acquisition Corp.

            	 	
              310-900-1450

            
	
              2807
                El Presidio Street

            	 	 
	
              Carson,
                CA 90810

            	 	 
	
              Attn:
                Mark McKinney, Chief Executive Officer

            	 	 
	 	 	 
	 	 	 
	
              TRUSTEE:

            	 	 
	 	 	 
	
              Continental
                Stock Transfer & Trust Company

            	 	
              212-845-3201

            
	
              17
                Battery Place

            	 	 
	
              New
                York, New York 10004

            	 	 
	
              Attn:
                Chairman

            	 	 

    

    

     

    
      
         

      

      
        C-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]