Document:

May 10, 2013

 

Capitol Acquisition Corp. II

509 7th Street, N.W.

Washington, D.C. 20004

 

Citigroup Global Markets Inc.

388 Greenwich Street

New York,
New York 10013

 

Deutsche
Bank Securities Inc.

60 Wall
Street, 4th Floor

New York,
New York 10005

 

		Re:	Initial Public Offering

 

Gentlemen:

 

This letter is being delivered to you
in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and between
Capitol Acquisition Corp. II, a Delaware corporation (the “Company”), and Citigroup Global Markets Inc.
and Deutsche Bank Securities Inc., as representatives (the “Representatives”) of the several Underwriters
named in Schedule I thereto (the “Underwriters”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s units (the “Units”), each comprised of one
share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and one
half of one warrant, each whole warrant exercisable for one share of Common Stock (each, a “Warrant”).
Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce
the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the
benefit that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.          If
the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

    	 

    	 

    

 

2.          In
the event that the Company fails to consummate a Business Combination within 21 months from the closing of the IPO, or 24 months
from the closing of the IPO if the Company has executed a letter of intent, agreement in principle or definitive agreement for
a Business Combination within 21 months from the closing of the IPO but has not completed the Business Combination within such
21-month period, the undersigned will, as promptly as possible, (i) cause the Trust Account to be liquidated and distributed to
the holders of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable. The undersigned 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 shares of Founders’ Common Stock (“Claim”)
and hereby 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 will not seek recourse against the Trust Account for any reason whatsoever. The undersigned acknowledges and
agrees that there will be no distribution from the Trust Account with respect to any warrants, all rights of which will terminate
on the Company’s liquidation.

 

3.          The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including (i) an entity that is either a portfolio company, or has otherwise
received a material financial investment from, any private equity fund or investment company (or an affiliate thereof) that is
affiliated with any of the foregoing, (ii) an entity in which any of the foregoing or their affiliates are currently passive investors,
(iii) an entity in which any of the foregoing or their affiliates are currently officers or directors or (iv) an entity in which
any of the foregoing or their affiliates are currently invested through an investment vehicle controlled by them, such transaction
must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion
from an independent investment banking firm which is a member of the Financial Industry Regulatory Authority that such Business
Combination is fair to the Company’s unaffiliated stockholders from a financial point of view.

 

4.          Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination. 

 

5.          Neither
the undersigned, any member of the family of the undersigned, nor 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 family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

6.          (a)          The
undersigned will place into escrow all of his shares of Founders’ Common Stock, portions of which shall be subject to forfeiture
in the event the Underwriters do not exercise their over-allotment option in full or in part or if the price of the Corporation’s
shares of common stock does not reach a certain price trigger, pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent.

 

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(b)          
The undersigned will not, without the prior written consent of the Representatives pursuant to the Underwriting Agreement, offer,
sell, contract to sell, pledge, hedge, or otherwise dispose of, (or enter into any transaction which is designed to, or might reasonably
be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement
or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate
of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement
with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease
a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any Units, shares of Common Stock,
Warrants of the Company or any securities convertible into, or exercisable or exchangeable for shares of Common Stock, or publicly
announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

(c)          The
undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Sponsors’ Warrants
will be subject to the transfer restrictions described in the Sponsor Warrants Purchase Agreement relating to the undersigned’s
Sponsors’ Warrants.

 

(d)          The
undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of shares of Founders’
Common Stock or Sponsors’ Warrants are required to contribute back to the capital of the Company a portion of any such securities
to be cancelled by the Company, the undersigned will contribute back to the capital of the Company, at no cost, a proportionate
number of shares of Founders’ Common Stock or Sponsors’ Warrants, as applicable, pro rata with the other holders of
shares of Founders’ Common Stock or Sponsors’ Warrants, as applicable.

 

7.          (a)          In
order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees
that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the
Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at
least 80% of the assets held in the Trust Account (excluding deferred underwriting commissions and taxes payable on the income
accrued on the Trust Account) at the time of the agreement to enter into the initial Business Combination, subject to any pre-existing
fiduciary or contractual obligations the undersigned might have.

 

(b)          The
undersigned has agreed not to participate in the formation of, or become an officer or director of, any blank check company until
the Company has entered into a definitive agreement regarding its initial Business Combination or the Company has failed to complete
an initial Business Combination within 21 months from the closing of the IPO, or 24 months from the closing of the IPO if the Company
has executed a letter of intent or agreement in principle for a Business Combination within 21 months from the closing of the IPO
but has not completed the Business Combination within such 21-month period.

 

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(c)          The
undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company would be irreparably injured in the
event of a breach of the obligations under paragraphs 7(a) and/or 7(b) herein, (ii) monetary damages may not be an adequate remedy
for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that
such party may have in law or in equity, in the event of such breach.

 

8.          The
undersigned agrees to be a Director of the Company until the earlier of the consummation by the Company of a Business Combination
or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company and the
Representatives 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 Item 401 of Regulation S-K, promulgated under
the Securities Act of 1933. The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representatives
is true and accurate in all respects. The undersigned represents and warrants that:

 

(a)    he
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)    he
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 he is not currently a defendant
in any such criminal proceeding; and

 

(c)    he
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.

 

9.          The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Director of the Company.

 

10.         The
undersigned hereby waives his right to exercise conversion rights with respect to any shares of the Company’s common stock
owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Founders’ Common Stock
or shares purchased by the undersigned in the IPO or in the aftermarket, and agrees that he will not seek conversion with respect
to such shares in connection with any vote to approve a Business Combination.

 

11.         The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article Sixth or Seventh of the Company’s
Amended and Restated Certificate of Incorporation prior to the consummation of a Business Combination other than an amendment to
Article Sixth of the Company’s Amended and Restated Certificate of Incorporation in accordance with such Article Sixth thereof.
Should such a proposal be put before stockholders, the undersigned hereby agrees to vote against such proposal.

 

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12.         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 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 Graubard Miller 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 the Representatives and appoint a substitute agent acceptable to each of the
Company and the Representatives 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.

 

13.         As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(ii) “Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO; (iii)
“Founders’ Common Stock” shall mean all of the shares of Common Stock of the Company acquired by an Insider prior
to the IPO; (iv) “IPO Shares” shall mean the shares of Common Stock issued in the Company’s IPO; (v) “Sponsors’
Warrants” shall mean the warrants that are being sold privately by the Company simultaneously with the consummation of the
IPO; and (vi) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.         This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not
be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by
a written instrument executed by all parties hereto.

 

15.         The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative
of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the
subject matter hereof.

 

16.         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 consummation of a Business Combination and (ii) the
liquidation of the Company; provided, that such termination shall not relieve the undersigned from liability for any breach
of this agreement prior to its termination.

 

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	 	 	Print Name of Insider	 
	 	 	 	 
	 	 	 	 
	 	 	Signature	 
	 	 	 	 
	 	 	Acknowledged and Agreed:	 
	 	 	 	 
	 	 	Capitol Acquisition Corp. II	 
	 	 	 	 
	 	By:	/s/ Mark D. Ein	 
	 	 	Name: Mark D. Ein	 
	 	 	Title: Chief Executice Officer	 

 

    	6INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as of May 10, 2013
by and between Capitol Acquisition Corp. II (the “Company”) and Continental Stock Transfer & Trust Company (“Trustee”).

 

WHEREAS, the Company’s registration
statement on Form S-1, No. 333-187519 (“Registration Statement”), for its initial public offering of securities (“IPO”)
has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange Commission (capitalized
terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and

 

WHEREAS, Citigroup Global Markets Inc. (“Citigroup”)
and Deutsche Bank Securities Inc. (“DB” and together with Citigroup, the “Representatives”) are acting
as the representatives of the underwriters in the IPO pursuant to an underwriting agreement between the Company and the underwriters
(“Underwriting Agreement”); and

 

WHEREAS, simultaneously with the IPO, the
Company’s sponsor and officers and directors will be purchasing an aggregate of 5,200,000 warrants (“Sponsors’
Warrants”) from the Company for an aggregate purchase price of $5,200,000 (or additional amounts of Sponsors’ Warrants
from the Company if the underwriters exercise their over-allotment option, up to 5,740,000 Sponsors’ Warrants for an aggregate
purchase price of $5,740,000 if the underwriters’ over-allotment option is exercised in full); and

 

WHEREAS, as described in the Registration
Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $180,000,000 of the gross
proceeds of the IPO and sale of the Sponsors’ Warrants ($207,000,000 if the underwriters’ over-allotment option is
exercised in full) will be delivered to the Trustee to be deposited and held in a trust account for the benefit of the Company
and the holders of the Company’s common stock, par value $.0001 per share, issued in the IPO as hereinafter provided (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 and
the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $7,200,000, or $8,280,000 if the underwriters’ over-allotment option is exercised in full
(or the amount specified in a notice pursuant to Section 3(f) hereof) is attributable to deferred underwriting discounts and commissions
that may become payable by the Company to the underwriters upon the consummation of an initial business combination (as described
in the Registration Statement, a “Business Combination”) (the “Deferred Discount”); 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;

 

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IT IS AGREED:

 

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 in a segregated trust account (“Trust
Account”) established by the Trustee at J.P. Morgan Chase Bank N.A. and at a brokerage institution selected by the Trustee
that is satisfactory to the Company;

 

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

 

(c)          In
a timely manner, upon the written instruction of the Company, to invest and reinvest the Property in United States “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, (the “Investment
Company Act”) having a maturity of 180 days or less, and/or in any open ended investment company registered under the Investment
Company Act that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (c)(2), (c)(3)
and (c)(4) of Rule 2a-7 promulgated under the Investment Company Act, which invest only in direct U.S. government treasury obligations;
it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder;

 

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

 

(e)          Notify
the Company and the Representatives of all communications received by the Trustee 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
its tax returns;

 

(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 to do so;

 

(h)          Render
to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements
of the Trust Account; and

 

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(i)          Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B hereto, signed on behalf
of the Company by its Chief Executive Officer or Chairman of the Board of Directors and Secretary or Assistant Secretary and affirmed
by counsel for the Company, 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; provided, however,
that in the event that a Termination Letter has not been received by the Trustee by the 21-month anniversary of the closing (“Closing”)
of the IPO (“First Date”), or the 24-month anniversary of the Closing (“Last Date”) in the event that a
letter of intent, agreement in principle or definitive agreement for a Business Combination has been executed on or prior to the
First Date but the Business Combination has not been completed by the First Date, the Trust Account shall be liquidated
in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed to the stockholders
of record on the Last Date. The provisions of this Section 1(i) may not be modified, amended or deleted under any circumstances.

 

2.          Limited
Distributions of Income from Trust Account.

 

(a)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Property and requested by
the Company to cover any income or other tax obligation owed by the Company;

 

(b)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the Company the amount of interest income earned on the Property and requested by
the Company to cover expenses related to investigating and selecting a target business and other working capital requirements;
provided, however, that the aggregate amount of all such distributions shall not exceed $1,750,000 (net of taxes payable) or $2,012,500
if the underwriters’ over-allotment option is exercised in full, or if the over-allotment option is not exercised in full,
but is exercised in part, the amount in interest income (net of taxes payable) to be released shall be increased above $1,750,000
proportionally in relation to the proportion of the over-allotment option which was exercised; and the Company will not be allowed
to withdraw interest income earned on the trust account unless there are sufficient funds available to pay the Company’s
tax obligations on such interest income or otherwise then due at that time; and

 

(c)          The
limited distributions referred to in Sections 2(a) and 2(b) above shall be made only from income collected on the Property. Except
as provided in Section 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance
with Section 1(i) hereof.

 

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(d)          In
all cases, the Company shall provide the Representatives with a copy of any Termination Letters and/or any other correspondence
that it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

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 Chairman of the Board of Directors, Chief Executive
Officer or Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i), 2(a) and 2(b) 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 and with reasonable care believes to be given by any one of the persons authorized above to give written instructions,
provided that the Company shall promptly confirm such instructions in writing;

 

(b)          Subject
to the provisions of Section 7(h) of this Agreement, 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 claim,
potential claim, 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,
fraud 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, which consent shall not be unreasonably withheld.
The Company may participate in such action with its own counsel;

 

(c)          Pay
the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections
2(a) and 2(b) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time.
It is expressly understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee
shall be deducted by the Trustee from the disbursements made to the Company pursuant to Sections 1(i) solely in connection with
the consummation of a Business Combination and Section 2(b). 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;

 

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(d)          In
connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes (which firm
may be the Trustee) verifying the vote of the Company’s stockholders regarding such Business Combination;

 

(e)          In
connection with the Trustee acting as Paying/Disbursing Agent pursuant to Exhibit B, the Company will not give the Trustee disbursement
instructions which would be prohibited under this Agreement;

 

(f)          Within five business days after the Representatives,
on behalf of the underwriters in the IPO, exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment
option expires, provide the Trustee with a notice in writing (with a copy to the Representatives) of the total amount of the Deferred
Discount, which shall in no event be less than $7,200,000; and

 

(g)          In
the event the Company is entitled to receive a tax refund on its income tax obligation, and promptly after the amount of such refund
is determined on a final basis, provide the Trustee with notice in writing (with a copy to the Representatives) of the amount of
such income tax refund.

 

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 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence, fraud 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 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 to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

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(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, fraud 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 and with reasonable care, to be genuine and to be signed or presented by the proper
person or persons. 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;

 

(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; and

 

(h)          File
local, state and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property.

 

(i)          Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account).

 

(j)          Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein.

 

(k)          Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i), 2(a) or 2(b) above.

 

5.          Trust
Account Waiver. The Trustee has no right of set off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) hereof, the Trustee shall pursue such Claim solely against the Company and not against the
Property or any monies in the Trust Account.

 

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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 act in accordance with 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 submit an application to have the Property deposited with
any court in the State of New York or 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; or

 

(b)          At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, 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. 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 all information supplied to it by the Company, including account names, account numbers and
all other identifying information relating to a beneficiary, beneficiary's bank or intermediary bank. Except for any liability
arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss,
liability or expense resulting from any error in the information or transmission of the wire.

 

(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 conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. This
Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together
shall constitute but one instrument.

 

(c)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Section 1(i) (which may not be amended under any circumstances), 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 the Representatives. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

 

    	7

    	 

    

 

(d)          The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder.

 

(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:

 

if to the Trustee, to:

 

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven G. Nelson, Chairman, and Frank
A. DiPaolo, CFO

Fax No.: (212) 509-5150

 

if to the Company, to:

 

Capitol Acquisition Corp. II.

509 7th Street, N.W.

Washington, D.C. 20004

Attn: Mark D. Ein

 

in either case with a copy to:

 

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

Attn: General Counsel

Fax No.: (212) 816-7912

 

and:

 

Deutsche Bank Securities Inc.

60 Wall Street, 4th Floor

New York, New York 10005

Attn:  Equity Capital Markets –
Syndicate Desk

Fax No.: (212) 797-9344

 

 

with a copy to:

 

Deutsche Bank Securities Inc.

60 Wall Street, 36th Floor

New York, NY 10005

Attn: General Counsel

Fax No.: (212) 797-4564

 

    	8

    	 

    

 

and:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Attn: Deanna L. Kirkpatrick, Esq.

Fax No.: (212) 701-5135

 

(f)          No
party to this Agreement may assign its rights or delegate its obligations hereunder without the prior consent of the other person
or entity.

 

(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)          Each
of the Company and the Trustee hereby acknowledges that the Representatives, on behalf of the several underwriters, are third party
beneficiaries of this Agreement (including Section 7(c) and the Trustee’s obligations under this Agreement with respect thereto
with the same right and power to enforce these provisions as either of the parties hereto).

 

    	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: 	/s/ Frank DiPaolo	 
	 	 	Name:  Frank A. DiPaolo	 
	 	 	Title:  Chief Financial Officer	 
	 	 	 
	 	CAPITOL ACQUISITION CORP. II	 
	 	 	 
	 	By: 	/s/ Mark D. Ein	 
	 	 	Name: Mark D. Ein	 
	 	 	Title:  Chief Executive Officer	 

  

    	10

    	 

    

 

SCHEDULE A

  

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,000	 
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000	 
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 	$	250	 

 

    	11

    	 

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank Di Paolo

 

		Re:	Trust Account No. XXXXXXXXXXX Termination Letter

 

Gentlemen:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Capitol Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of May 10, 2013 (“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 (“Business Combination”) on or about [insert
date]. The Company shall notify you at least 48 hours in advance of the actual date of the consummation of the Business Combination
(“Consummation Date”).

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on __________ and to transfer
the proceeds to the above-referenced account at JP Morgan Chase Bank 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. It is acknowledged and agreed that while the funds are on deposit in the trust account awaiting distribution,
the Company will not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
(ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of __________________, which verifies the vote of the
Company’s stockholders in connection with the Business Combination and (b) written instructions with respect to the transfer
of the funds held in the Trust Account (“Instruction Letter”) and (iii) the Representatives shall deliver to you written
instructions for delivery of the Deferred Discount. You are hereby directed and authorized to transfer the funds held in the Trust
Account immediately upon your receipt of the counsel's letter and the Instruction Letter, (x) to the Representatives in an amount
equal to the Deferred Discount as directed by the Representatives and (y) the remainder in accordance with the terms of the Instruction
Letter. 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 of the same and the Company shall direct you as to whether such funds should remain in the Trust Account
and distributed after the Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant
to the terms hereof, the Trust Agreement shall be terminated.

 

    	12

    	 

    

 

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 upon receipt by the Trustee of written instructions from
the Company, 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,	 
	 	 	 
	 	CAPITOL ACQUISITION CORP. II	 
	 	 	 
	 	By:	 	 
	 	 	Name: Mark D. Ein	 
	 	 	Title: Chairman of the Board of Directors and 	 
	 	 	Secretary	 

 

cc:      Citigroup Global Markets Inc.

           Deutsche
Bank Securities Inc.

 

    	13

    	 

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn: Steven Nelson and Frank Di Paolo

 

		Re:	Trust Account No. XXXXXXXX Termination Letter

 

Gentlemen:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Capitol Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of May 10, 2013 (“Trust Agreement”), this is to
advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified
in the Company’s Amended and Restated Certificate of Incorporation, as described in the Company’s prospectus relating
to its initial public offering of securities.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on ______________ and
to transfer the total proceeds to the Trust Checking Account at JP Morgan Chase Bank to await distribution to the stockholders.
The Company has selected ____________ 20 __ as the record date for the purpose of determining the stockholders entitled to receive
their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds
while on deposit in the trust account. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent
and to distribute said funds directly to the Company's stockholders in accordance with the terms of the Trust Agreement and the
Amended and Restated Certificate of Incorporation of the Company. Upon the distribution of all the funds in the trust account,
your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,	 
	 	 	 
	 	CAPITOL ACQUISITION CORP. II	 
	 	 	 
	 	By:	 	 
	 	 	Name: Mark D. Ein	 
	 	 	Title: Chairman of the Board of Directors and	 
	 	 	Secretary	 

 

cc:      Citigroup Global Markets Inc.

           Deutsche
Bank Securities Inc.

 

    	14

    	 

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Accounting Department

Cynthia Jordan and
Francine West

 

		Re:	Trust Account No. XXXXXXXX

 

Gentlemen:

 

Pursuant to Section
2(a) of the Investment Management Trust Agreement between Capitol Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of May 10, 2013 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date hereof. The
Company needs such funds to pay its tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed
and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating
account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	CAPITOL ACQUISITION CORP. II	 
	 	 	 
	 	By:	 	 
	 	 	Name: Mark D. Ein	 
	 	 	Title: Chairman of the Board of Directors and	 
	 	 	Secretary	 

 

cc:      Citigroup Global Markets Inc.

          Deutsche
Bank Securities Inc.

 

    	15

    	 

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

  & Trust Company

17 Battery Place

New York, New York 10004

Attn: Accounting Department

Cynthia Jordan and
Francine West

 

		Re:	Trust Account No. XXXXXXXXX

 

Gentlemen:

 

Pursuant to Section
2(b) of the Investment Management Trust Agreement between Capitol Acquisition Corp. II (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of May 10, 2013 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date hereof, which
does not exceed, in the aggregate with all such prior disbursements pursuant to Section 2(b), if any, the maximum amount set forth
in Section 2(b). The Company needs such funds to pay its expenses relating to investigating and selecting a target business and
for its other working capital requirements. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized
to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

		Very truly yours,	 
	 	 	 
		CAPITOL ACQUISITION CORP. II	 
	 	 	 
	 	By:	 	 
	 	 	Name: Mark D. Ein	 
	 	 	Title: Chairman of the Board of Directors and	 
	 	 	Secretary	 

 

cc:      Citigroup
Global Markets Inc.

           Deutsche
Bank Securities Inc.

 

    	16

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