Document:

Unassociated Document

    February
      16, 2007

    

    

    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
        FSGL
        Holdings Ltd, hereby agree (i) that if the Company borrows money in order
        to
        fund due diligence and other expenses associated with locating a target
        business, to the extent a Business Combination is not ultimately consummated
        and
        that the funds available outside of the trust account are not sufficient
        to
        repay such loan, to advance the funds necessary to repay such loan, (ii)
        that if
        the Company does not have sufficient funds available outside of the trust
        account to fund the estimated costs of dissolution and liquidation, to advance
        the necessary funds, and (iii) to indemnify Shrem, Fudim, Kelner - Technologies
        Ltd. (“SFKT”) and Shrem, Fudim, Kelner & Co. Ltd. (“SFK”) from and against
        any and all liabilities as a result of, arising out of, or in connection
        with
        the investment by SFKT and SFK in the Company, the purchase by them of the
        founder warrants, any future business combination that may be effected by
        the
        Company, the Company’s dissolution or liquidation, any reimbursement of amounts
        withdrawn from the trust fund, or any action taken or failure to take any
        action
        by the Company, the Company’s directors, officers and employees, excluding any
        activity that will be done by SFKT, SFK or any of their affiliates following
        the
        completion of our initial public offering in their capacity such as a vendor,
        finder or other service provider.

    

    

    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]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	OLEV HOLDINGS LTD 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	By:
              /s/
              Liora Lev	 	 	 
	
              
                

              

              Name:
                Liora Lev

            	 	 	
            
	
              
                

              

               

            	 	 	 

    

     

     

    [Signature
      Page to Initial Stockholder
      Letter]Unassociated Document

    February
      16, 2007

    

    

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

    

    7.
      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.

    

    8.
      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]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	 	 	 	 
	 	 	 	 
	 	 	 	 
	By:
                /s/
                Ido Bahbut	 	 	 
	
                
                  

                

                        Ido
                  Bahbut

              	 	 	
              
	
                 

              	 	 	 

      

       

      [Signature
        Page to Initial Stockholder Letter]

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