Document:

Unassociated Document

    September
      29, 2006

    

    

    Advanced
      Technology Acquisition Corp.

    14
      A
      Achimeir Street 

    Ramat
      Gan
      52587 Israel

    

    CRT
      Capital Group LLC

    262
      Harbor Drive

    Stamford,
      Connecticut 06902

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned initial stockholder of Advanced Technology Acquisition Corp.
      (“Company”), in consideration of CRT Capital Group LLC (“CRT”) entering into a
      letter of intent (“Letter of Intent”) to underwrite an initial public offering
      of the securities of the Company (“IPO”) and embarking on the IPO process,
      hereby agrees as follows (certain capitalized terms used herein are defined
      in
      paragraph 9 hereof): 

    

    1.
      If the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Pre-IPO Shares and IPO Shares beneficially owned
      by it
      in accordance with the majority of the votes cast by the non-affiliated holders
      of the IPO Shares.

    

    2.
      In the
      event that the Company fails to consummate a Business Combination within 18
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO), the undersigned shall take all reasonable
      actions within such person’s power to cause (i) the Company to dissolve and
      liquidate the Trust Account to holders of IPO Shares as soon as reasonably
      practicable, and after approval of the Company's stockholders and subject to
      the
      requirements of the Delaware General Corporation Law (the “DGCL”), including
      voting for the adoption of a resolution by the Board, prior to such Termination
      Date, pursuant to Section 275(a) of the DGCL, which shall deem the dissolution
      of the Corporation advisable and (b) cause to be prepared such notices as are
      required by said Section 275(a) of the DGCL as promptly thereafter as possible,
      and (ii) vote his shares in favor of any plan of dissolution and distribution
      recommended by the Company's board of directors. The undersigned stockholder
      hereby waives any and all right, title, interest or claim of any kind in or
      to
      any distribution of the Trust Account and any remaining net assets of the
      Company as a result of such liquidation with respect to his Pre-IPO Shares
      (“Claim”) and hereby waives any Claim the undersigned stockholder may have in
      the future as a result of, or arising out of, any contracts or agreements with
      the Company and will not seek recourse against the Trust Account 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 Account
      received by the undersigned in respect of such person’s Pre-IPO
      Shares.

    

    3.
      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 initial stockholders unless the Company obtains an opinion from an
      independent investment banking firm that the business combination is fair to
      the
      Company’s stockholders from a financial point of view.

    

    4.
      The
      undersigned agrees that none of the undersigned, any member of the Immediate
      Family of the undersigned's controlling stockholder, or any Affiliate of the
      undersigned will be entitled to receive or accept a finder’s fee or any other
      compensation in the event the undersigned, any member of the Immediate Family
      of
      the undersigned's controlling stockholder or any Affiliate of the undersigned
      originates a Business Combination.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.
      The
      undersigned will escrow all Pre-IPO Shares and such Pre-IPO Shares will not
      be
      transferable during the escrow period and will not be released from escrow
      until
      the date which is one year after the consummation of a Business Combination,
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

    6.
      The
      undersigned initial stockholder, together with FSGL Holdings Ltd and OLEV
      Holdings Ltd, hereby agrees that, subject to the qualifications stated below,
      it
      will be liable to cover claims made by vendors for services rendered or
      contracted for, or for products sold to the Company, but only if, and to the
      extent, the claims reduce the amounts in the Trust Account available for payment
      to the Company's stockholders in the event of a liquidation. This
      indemnification is limited to claims of vendors that do not execute a waiver
      of
      all right in or to the monies held in the Trust Account. Claims by vendors
      or
      other entities that executed such a waiver agreement are not indemnified by
      the
      undersigned. The undersigned initial stockholder will not have any liability
      as
      to any claimed amounts owed - directly or indirectly - including, without
      limitation, liabilities to an acquisition target, any third party who executed
      a
      waiver or the underwriter of the IPO, except as set forth above. 

    

    7.
      The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement.

    

    8.
      This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a “Proceeding”) shall be brought and enforced in the courts of
      the State of New York or of the United States of America for the Southern
      District of New York, and irrevocably submits to such jurisdiction, which
      jurisdiction shall be exclusive, (ii) waives any objection to such exclusive
      jurisdiction and that such courts represent an inconvenient forum and (iii)
      irrevocably agrees to appoint Corporation Service Company as agent for the
      service of process in the State of New York to receive, for the undersigned
      and
      on his behalf, service of process in any Proceeding. If for any reason such
      agent is unable to act as such, the undersigned will promptly notify the Company
      and CRT and appoint a substitute agent acceptable to each of the Company and
      CRT
      within 30 days and nothing in this letter will affect the right of either party
      to serve process in any other manner permitted by law.

    

    9.
      As
      used herein, (i) a “Business Combination” shall
      mean an acquisition by merger,
      capital stock exchange, asset acquisition, stock purchase or other similar
      business combination with a technology or technology-related business that
      has
      operations or facilities located in Israel, or that intends to establish
      operations or facilities in Israel, such as research and development,
      manufacturing or executive offices, following the Company's initial business
      combination with a target business; (ii) “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);
      (iii) “Insiders” shall mean all officers, directors and stockholders of the
      Company immediately prior to the IPO; (iv) “Pre-IPO Shares” shall mean all of
      the shares of Common Stock of the Company owned by an Insider prior to the
      IPO;
      and (v) “IPO Shares” shall mean the shares of Common Stock issued in the
      Company’s IPO and (vi) “Trust Account” shall mean that certain trust account
      established with Continental Stock Transfer & Trust Company, as trustee,
      into which the Company will deposit the “funds to be held in trust,” as
      described in the Prospectus.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGE FOLLOWS]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	M.O.T.A. HOLDINGS LTD. 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	By:
              /s/ Moshe
              Bar-Niv	 	 	 
	
              
                

              

              Name:
                Moshe Bar-Niv

              
                

              

               

            	 	 	
            

    

     

    

      [Signature
        Page to Initial Stockholder Letter]Unassociated Document

    September
      29, 2006

    

    

    Advanced
      Technology Acquisition Corp.

    14
      A
      Achimeir Street 

    Ramat
      Gan
      52587 Israel

    

    CRT
      Capital Group LLC

    262
      Harbor Drive

    Stamford,
      Connecticut 06902

    

    Re:
      Initial Public Offering

    

    Gentlemen:

    

    The
      undersigned initial stockholder of Advanced Technology Acquisition Corp.
      (“Company”), in consideration of CRT Capital Group LLC (“CRT”) entering into a
      letter of intent (“Letter of Intent”) to underwrite an initial public offering
      of the securities of the Company (“IPO”) and embarking on the IPO process,
      hereby agrees as follows (certain capitalized terms used herein are defined
      in
      paragraph 9 hereof): 

    

    1.
      If the
      Company solicits approval of its stockholders of a Business Combination, the
      undersigned will vote all Pre-IPO Shares and IPO Shares beneficially owned
      by it
      in accordance with the majority of the votes cast by the non-affiliated holders
      of the IPO Shares.

    

    2.
      In the
      event that the Company fails to consummate a Business Combination within 18
      months from the effective date (“Effective Date”) of the registration statement
      relating to the IPO (or 24 months under the circumstances described in the
      prospectus relating to the IPO), the undersigned shall take all reasonable
      actions within such person’s power to cause (i) the Company to dissolve and
      liquidate the Trust Account to holders of IPO Shares as soon as reasonably
      practicable, and after approval of the Company’s stockholders
      and
      subject to the requirements of the Delaware General Corporation Law (the
“DGCL”), including voting for the adoption of a resolution by the Board, prior
      to such Termination Date, pursuant to Section 275(a) of the DGCL, which shall
      deem the dissolution of the Corporation advisable and (b) cause to be prepared
      such notices as are required by said Section 275(a) of the DGCL as promptly
      thereafter as possible, and (ii) vote his shares in favor of any plan of
      dissolution and distribution recommended by the Company’s board of directors.
      The undersigned stockholder hereby waives any and all right, title, interest
      or
      claim of any kind in or to any distribution of the Trust Account and any
      remaining net assets of the Company as a result of such liquidation with respect
      to his Pre-IPO Shares (“Claim”) and hereby waives any Claim the undersigned
      stockholder may have in the future as a result of, or arising out of, any
      contracts or agreements with the Company and will not seek recourse against
      the
      Trust Account 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 Account received by the undersigned in respect of
      such
      person’s Pre-IPO Shares.

    

    3.
      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 initial stockholders unless the Company obtains an opinion from an
      independent investment banking firm that the business combination is fair to
      the
      Company’s stockholders from a financial point of view.

    

    4.
      The
      undersigned agrees that none of the undersigned, any member of the Immediate
      Family of the undersigned’s controlling stockholder, or any Affiliate of the
      undersigned will be entitled to receive or accept a finder’s fee or any other
      compensation in the event the undersigned, any member of the Immediate Family
      of
      the undersigned’s controlling stockholder or any Affiliate of the undersigned
      originates a Business Combination.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.
      The
      undersigned will escrow all Pre-IPO Shares and such Pre-IPO Shares will not
      be
      transferable during the escrow period and will not be released from escrow
      until
      the date which is one year after the consummation of a Business Combination,
      subject to the terms of a Stock Escrow Agreement which the Company will enter
      into with the undersigned and an escrow agent acceptable to the
      Company.

    

    6.
      The
      undersigned initial stockholder, together with M.O.T.A. Holdings Ltd. and OLEV
      Holdings Ltd, hereby agrees that, subject to the qualifications stated below,
      it
      will be liable to cover claims made by vendors for services rendered or
      contracted for, or for products sold to the Company, but only if, and to the
      extent, the claims reduce the amounts in the Trust Account available for payment
      to the Company’s stockholders in the event of a liquidation. This
      indemnification is limited to claims of vendors that do not execute a waiver
      of
      all right in or to the monies held in the Trust Account. Claims by vendors
      or
      other entities that executed such a waiver agreement are not indemnified by
      the
      undersigned. The undersigned initial stockholder will not have any liability
      as
      to any claimed amounts owed - directly or indirectly - including, without
      limitation, liabilities to an acquisition target, any third party who executed
      a
      waiver or the underwriter of the IPO, except as set forth above. 

    

    7.
      The
      undersigned has full right and power, without violating any agreement by which
      he is bound, to enter into this letter agreement.

    

    8.
      This
      letter agreement shall be governed by and construed and enforced in accordance
      with the laws of the State of New York, without giving effect to conflicts
      of
      law principles that would result in the application of the substantive laws
      of
      another jurisdiction. The undersigned hereby (i) agrees that any action,
      proceeding or claim against him arising out of or relating in any way to this
      letter agreement (a “Proceeding”) shall be brought and enforced in the courts of
      the State of New York or of the United States of America for the Southern
      District of New York, and irrevocably submits to such jurisdiction, which
      jurisdiction shall be exclusive, (ii) waives any objection to such exclusive
      jurisdiction and that such courts represent an inconvenient forum and (iii)
      irrevocably agrees to appoint Corporation Service Company as agent for the
      service of process in the State of New York to receive, for the undersigned
      and
      on his behalf, service of process in any Proceeding. If for any reason such
      agent is unable to act as such, the undersigned will promptly notify the Company
      and CRT and appoint a substitute agent acceptable to each of the Company and
      CRT
      within 30 days and nothing in this letter will affect the right of either party
      to serve process in any other manner permitted by law.

    

    9.
      As
      used herein, (i) a “Business Combination” shall
      mean an acquisition by merger,
      capital stock exchange, asset acquisition, stock purchase or other similar
      business combination with a technology or technology-related business that
      has
      operations or facilities located in Israel, or that intends to establish
      operations or facilities in Israel, such as research and development,
      manufacturing or executive offices, following the Company’s initial business
      combination with a target business; (ii) “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);
      (iii) “Insiders” shall mean all officers, directors and stockholders of the
      Company immediately prior to the IPO; (iv) “Pre-IPO Shares” shall mean all of
      the shares of Common Stock of the Company owned by an Insider prior to the
      IPO;
      and (v) “IPO Shares” shall mean the shares of Common Stock issued in the
      Company’s IPO and (vi) “Trust Account” shall mean that certain trust account
      established with Continental Stock Transfer & Trust Company, as trustee,
      into which the Company will deposit the “funds to be held in trust,” as
      described in the Prospectus.

    

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK. SIGNATURE PAGE FOLLOWS]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	FSGL HOLDINGS LTD 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	By:
              /s/
              Yehoshua Gleitman  	 	 	 
	
              
                

              

              Name:
                Dr. Yehoshua (Shuki) Gleitman

            	 	 	
            
	
              
                

              

               

            	 	 	 

    

    

    

    

      [Signature
        Page to Initial Stockholder Letter]

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