Document:

Exhibit 10.6

 

[            ],
2008

 

K
Road Acquisition Corporation

330
Madison Avenue, 25th Floor

New
York, NY 10017

 

Re:                               Initial Public Offering

 

Ladies
and Gentlemen:

 

The undersigned stockholder of K Road Acquisition Corporation (the “Company”), in consideration of Credit Suisse Securities
(USA) LLC (“Credit Suisse” or the “Underwriter”) entering into a letter of intent (the “Letter of Intent”) to underwrite an initial public offering
(the “IPO”) of the securities of the Company
and embarking on, undertaking and continuing to participate in the IPO process,
hereby agrees as follows (certain capitalized terms used herein are defined in
paragraph 11 hereof):

 

1.                                       If the Company solicits approval of its
stockholders of an Extended Period or a Business Combination, the undersigned
will: (i) vote all Insider Shares owned by the undersigned in accordance
with the majority of the votes cast by the Public Stockholders, (ii) vote
any IPO Shares acquired in or following the IPO in favor of the Extended Period
and the Business Combination and (iii) vote any IPO Shares that may be
acquired by it in or following the IPO in favor of an amendment to the Company’s
Amended and Restated Certificate of Incorporation to provide for perpetual
existence of the Company in the event the Business Combination is approved.

 

2.                                       Except with respect to any of the IPO Shares
acquired by the undersigned in connection with or following the IPO, the
undersigned hereby irrevocably: (i) waives any and all right, title,
interest, cause of action or claim of any kind (a “Claim”) in or to all funds in the Trust Account and any
remaining net assets of the Company upon liquidation of the Trust Account and
dissolution of the Company; (ii) 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, which Claim would reduce, encumber or otherwise adversely
affect the amounts held in the Trust Account; and (iii) agrees that the
undersigned will not seek recourse (legal, equitable or otherwise) against the
Trust Account for any reason whatsoever. 
The undersigned hereby agrees that it shall promptly reimburse
the Trust Account for any distribution of amounts in the Trust Account received
by the undersigned in respect of its Shares. For clarity, the undersigned may
receive distributions from the Trust Account in respect of IPO Shares.

 

3.                                       The undersigned acknowledges and agrees that
the Company will not consummate any Business Combination involving a company
affiliated with any of the Insiders, as defined below, unless the Company
obtains an opinion from an unaffiliated independent investment banking firm
that the Business Combination is fair to the Company’s stockholders from a
financial perspective.

 

4.                                       Neither 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 the undersigned shall be entitled to reimbursement
from the Company for its out-of-pocket expenses incurred in connection with
seeking and 

 

1

 

consummating a Business Combination. 
Notwithstanding the foregoing, the undersigned shall be entitled to
reimbursement of $10,000 per month for administrative related and general
office services provided to the Company.

 

5.                                       The undersigned agrees that neither the
undersigned nor 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 payable by the Company in the event the undersigned or any
Affiliate of the undersigned originates a Business Combination.

 

6.                                       The undersigned will escrow its Insider
Shares and Insider Warrants in accordance with to the terms of a stock escrow agreement
which the Company will enter into with the undersigned and an escrow agent
acceptable to the Company.

 

7.                                       The undersigned’s information furnished to
the Company and the Underwriter 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, as
amended.  The undersigned’s Questionnaire(s) furnished to the Company
and the Underwriter is true and accurate in all respects.  The undersigned
further represents and warrants to the Company and the Underwriter that:

 

(a)                                  No petition under the Federal bankruptcy laws
or any state insolvency law has been filed by or against, or a receiver, fiscal
agent or similar officer was appointed by a court for the business or property
of the undersigned, or any partnership in which the undersigned was or is a
general partner at or within ten (10) years prior to the date hereof
within ten (10) years prior to the date hereof;

 

(b)                                 The undersigned has not been convicted in any
criminal proceeding nor is the undersigned currently a named subject of a
pending criminal proceeding (excluding traffic violations and other minor
offenses);

 

(c)                                  The undersigned has not been the subject of
any order, judgment, or decree, not subsequently reversed, suspended or
vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining the undersigned from, or otherwise limiting, the following
activities:

 

(i)                                     Acting as a
futures commission merchant, introducing broker, commodity trading advisor,
commodity pool operator, floor broker, leverage transaction merchant, any other
person regulated by the Commodity Futures Trading Commission, or an associated
person of any of the foregoing, or as an investment adviser, underwriter, broker
or dealer in securities, or as an affiliated person, director or employee of
any investment company, bank, savings and loan association or insurance
company, or engaging in or continuing any conduct or practice in connection
with such activity;

 

(ii)                                  Engaging in any
type of business practice; or

 

(iii)                               Engaging in any
activity in connection with the purchase or sale of any security or commodity
or in connection with any violation of Federal or State securities laws or
Federal commodities laws;

 

(d)                                 The undersigned has not been the subject of
any order, judgment or decree, not subsequently reversed, suspended or vacated,
of any Federal or State authority barring, suspending or otherwise limiting for
more than sixty (60) days the right of the undersigned to engage in any
activity 

 

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described in paragraph (c)(i) above, or to be associated with
persons engaged in any such activity;

 

(e)                                  The undersigned has not been found by a court
of competent jurisdiction in a civil action or by the Securities and Exchange
Commission to have violated any Federal or State securities law, and the
judgment in such civil action or finding by the Securities and Exchange
Commission has not been subsequently reversed, suspended, or vacated; and

 

(f)                                    The undersigned has not been found by a court
of competent jurisdiction in a civil action or by the Commodity Futures Trading
Commission to have violated any Federal commodities law, and the judgment in
such civil action or finding by the Commodity Futures Trading Commission has
not been subsequently reversed, suspended or vacated.

 

8.                                       The undersigned has full right and power,
without violating any agreement by which the undersigned is bound, to enter
into this letter agreement.

 

9.                                       The undersigned authorizes any employer,
financial institution, or consumer credit reporting agency to release to the Underwriter
and their legal representatives or agents (including any investigative search
firm retained by the Underwriter) any information they may have about the
undersigned’s background and finances (the “Information”). 
Neither the Underwriter nor their 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.

 

10.                                 The undersigned hereby agrees not to propose
or vote in favor of, any amendment to the Company’s amended and restated
certificate of incorporation that requires the affirmative vote of at least 95%
of the IPO Shares other than in connection with the proposal to approve the
Extended Period and in connection with the Business Combination.  This paragraph may not be modified or amended
under any circumstances.

 

11.                                 As used herein: (i) “Affiliate” shall mean any member of the family of the
undersigned or any entity or person that directly or indirectly controls, is
controlled by or is under common control with, the undersigned; (ii)  ““Business Combination” shall mean an acquisition, by merger,
capital stock exchange, asset acquisition, stock purchase, exchangeable share
transaction, or other similar business combination with one of more
unidentified operating businesses or assets; pursuant to the Company’s Amended
and Restated Certificate of Incorporation; (iii) “Common Stock”
shall mean the common stock, par value $.0001 per share, of the Company; (iv) “Extended Period” shall mean the extension of the Company’s
corporate existence from 24 months to 30 months pursuant to the Company’s
Amended and Restate Certificate of Incorporation; (v) “Insiders” shall mean all officers, directors and
stockholders of the Sponsor immediately prior to the IPO; (vi) “Insider Shares” shall mean all of the shares of Common Stock
issued to the Sponsor prior to the IPO; (vii) “Insider
Warrants” shall mean the 7,750,000 warrants granted to K Road
Acquisition Holdings LLC by the Company ; (vii)”IPO Shares”
shall mean the shares of Common Stock issued in the Company’s IPO; (ix) “Private Placement” shall mean the private placement of
7,750,000 warrants of the Company prior to the IPO; (x) “Prospectus” shall mean the prospectus contained in the
registration statement relating to the IPO; (xi) “Public
Stockholders” shall mean the holders of the Common Stock issued by
the Company in the IPO;  (xii) “Sponsor Warrants” shall mean the 7,750,000 warrants granted
to K Road Acquisition Holdings LLC by the Company; (xiii) “Trust
Account” means the trust account in which the proceeds to the
Company of the IPO will be deposited and held for the benefit of the holders of
the IPO shares, as described in greater detail in the Prospectus; and (xiv) “Trust Agreement” shall mean the agreement between the
Company and Continental Stock Transfer.& Trust Company, Inc.,
substantially in the form as filed Exhibit 10.2 to the Company’s
registration statement.

 

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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 letter 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 inconvenient 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 undersigned, the Company and the
Underwriter.  This letter agreement shall
be binding on the undersigned and such person’s successors, heirs, personal
representatives and assigns.

 

 

	
   

  	
  K
  ROAD ACQUISITION HOLDINGS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:
  William V. Kriegel

  
	
   

  	
   

  	
  Title:

  

 

4Exhibit 10.10

 

                        ,
2008

 

K
Road Acquisition Holdings LLC

330
Madison Avenue, 25th Floor

New
York, New York 10017

 

Re:          K ROAD ACQUISITION CORPORATION

 

Gentlemen:

 

This
letter will confirm our agreement, that commencing on the effective date (“Effective
Date”) of the registration statement (“Registration Statement”) of the initial
public offering (“IPO”) of the securities of K Road Acquisition Corporation
(the “Company”) and continuing until the earlier to occur of: (i) the
consummation of a Business Combination (as described in the Registration
Statement) and (iii) the date on which we dissolve and liquidate our trust
account as part of our plan of dissolution and liquidation pursuant to the
Company’s Amended and Restated Certificate of Incorporation, K Road Acquisition
Holdings LLC shall make available to the Company certain general and
administrative services, including but not limited to receptionist, secretarial
and general office services.  In exchange
therefore, the Company shall pay K Road Acquisition Holdings LLC the sum of
$10,000 per month on the Effective Date and continuing monthly thereafter.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  K ROAD ACQUISITION CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
  William V. Kriegel

  
	
   

  	
   

  	
  Title:

  	
  Chairman, President and Chief Executive

  
	
   

  	
   

  	
   

  	
  Officer

  

 

 

Agreed
to and Accepted by:

 

K
ROAD ACQUISITION HOLDINGS LLC

 

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  William V. Kriegel

  	
   

  
	
   

  	
  Title:

  	
  Managing Member

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