Document:

EXHIBIT 10.2

                                        August 25, 2005

Media & Entertainment Holdings, Inc.
4429 Edmondson Avenue
Dallas, Texas 75205

Jesup & Lamont Securities Corporation
650 Fifth Avenue
New York, New York 10019

                ---------------- ------------------------------

                Re:              INITIAL PUBLIC OFFERING
                ---------------- ------------------------------

Gentlemen:

              The  undersigned  stockholder,  officer and/or director of Media &
Entertainment  Holdings,  Inc.  ("Company"),  in consideration of Jesup & Lamont
Securities  Corporation  ("Jesup  &  Lamont")  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  11
hereof):

              1.     If the Company  solicits  approval of its stockholders of a
Business Combination,  the undersigned will vote all Insider Shares owned by him
in  accordance  with the  majority  of the votes cast by the  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
will take all  reasonable  actions  within  his power to 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  Fund (as  defined  in the  Letter  of  Intent)  as a result  of such
liquidation  with respect to his Insider Shares  ("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 Fund for any reason  whatsoever.  The undersigned  agrees to indemnify
and hold  harmless  the  Company  against any and all loss,  liability,  claims,
damage and expense whatsoever (including,  but not limited to, any and all legal
or other expenses reasonably  incurred in investigating,  preparing or defending
against any litigation,  whether pending or threatened, or any claim whatsoever)
which the Company may become subject as a result of any claim by any vendor that
is owed money by the Company for services  rendered or products sold but only to
the extent  necessary  to ensure  that such loss,  liability,  claim,  damage or
expense  does not reduce the amount in the Trust Fund (as  defined in the Letter
of Intent).

<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 2

              3.     In order to minimize potential  conflicts of interest which
may arise from multiple  affiliations,  the undersigned agrees to present to the
Company for its  consideration,  prior to  presentation  to any other  person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer  or  director  of the  Company,  subject to any  pre-existing  fiduciary
obligations the undersigned might have.

              4.     The  undersigned  acknowledges  and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment banking firm reasonably  acceptable to Jesup & Lamont
that the  business  combination  is fair to the  Company's  stockholders  from a
financial perspective.

              5.     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 for services  rendered to the Company prior
to the consummation of the Business Combination; provided that commencing on the
Effective Date, Transmedia  Corporation  ("Related Party"),  shall be allowed to
charge the Company an allocable  share of Related Party's  overhead,  $7,500 per
month, to compensate it for certain  administrative,  technology and secretarial
services,  as well as the use of certain  limited office space in Dallas,  Texas
that it will provide to the Company.  Related  Party and the  undersigned  shall
also be entitled  to  reimbursement  from the  Company  for their  out-of-pocket
expenses  incurred  in  connection  with  seeking  and  consummating  a Business
Combination.

              6.     Neither  the  undersigned,  any member of the family of the
undersigned,  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 family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

              7.     The  undersigned  will  escrow his  Insider  Shares for the
period   commencing  on  the  Effective  Date  and  ending  one  year  from  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.

              8.     The  undersigned  agrees to be President,  Chief  Operating
Officer and 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  furnished  to the  Company and Jesup &
Lamont and attached  hereto as Exhibit A is true and  accurate in all  respects,
does  not  omit any  material  information  with  respect  to the  undersigned's
background and contains all of the information required to be disclosed pursuant
to Section 401 of Regulation S-K,  promulgated under the Securities Act of 1933.
The undersigned's  Questionnaire furnished to the Company and Jesup & Lamont and
annexed  as  Exhibit  B  hereto  is  true  and  accurate  in all  respects.  The
undersigned represents and warrants that:

                                       2
<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 3

              (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 President, Chief Operating Officer and Director of the Company.

              10.    The   undersigned   authorizes   any  employer,   financial
institution,  or consumer credit  reporting  agency to release to Jesup & Lamont
and its legal representatives or agents (including any investigative search firm
retained  by  Jesup  &  Lamont)  any   information   they  may  have  about  the
undersigned's background and finances  ("Information"),  purely for the purposes
of the Company's IPO (and shall thereafter hold such information  confidential).
Neither Jesup & Lamont nor its agents shall be violating the undersigned's right
of privacy in any manner in requesting  and obtaining  the  Information  and the
undersigned  hereby  releases them from  liability for any damage  whatsoever in
that connection.

              11.    As used herein, (i) a "Business  Combination" shall mean an
acquisition  by merger,  capital  stock  exchange,  asset or stock  acquisition,
reorganization or otherwise,  of an operating  business selected by the Company;
(ii)  "Insiders"  shall mean all officers and directors who are  stockholders of
the Company  immediately prior to the IPO; (iii) "Insider Shares" shall mean all
of the shares of Common  Stock of the Company  owned by an Insider  prior to the
IPO; and (iv) "IPO  Shares"  shall mean the shares of Common Stock issued in the
Company's IPO.

                                        /s/ Harvey M. Seslowsky
                                        Harvey M. Seslowsky

                                       3
<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 4

                                    EXHIBIT A

HARVEY M. SESLOWSKY has been the President and Chief Operating Officer and a
Director of our company since August 2005. Mr. Seslowsky currently serves as the
President of Transmedia Corporation, a private media consulting firm he founded
which provides consulting services to a wide variety of clients, including
Accenture Ltd., one of the world's leading management consulting and technology
services organizations. From October 2000 to September 2002, Mr. Seslowsky
served as Executive Vice President of Worldwide Sales & Distribution for
Blockbuster International Distribution, a division of Blockbuster Inc., a
leading global provider of in-home rental and retail movie and game
entertainment, and from February 1995 to October 2000, as Senior Vice President,
National Sales, Partnership Marketing & Licensing of Blockbuster, Inc. Mr.
Seslowsky has been active as a Consultant/New Business Development since 1990,
and served as President and a Director of Scat Hovercraft, Inc., a company
engaged in the Hovercraft industry, from 1990 to 1991, as President and a
Director of Media Merchandising Corporation, the publisher of The Video Source
Book and maintainer of the world's largest and most comprehensive data base on
the home video business, from 1988 to 1990, and as President of Broadcast
Information Bureau Inc, a trade book and magazine publisher, where he served as
a consultant to over 50 television stations. Prior to that time, he served as an
Account Executive of ABC Television Network.

                                       4EXHIBIT 10.3

                                        August 25, 2005

Media & Entertainment Holdings, Inc.
4429 Edmondson Avenue
Dallas, Texas 75205

Jesup & Lamont Securities Corporation
650 Fifth Avenue
New York, New York 10019

                ---------------- ------------------------------

                Re:              INITIAL PUBLIC OFFERING
                ---------------- ------------------------------

Gentlemen:

              The  undersigned  stockholder,  officer and/or director of Media &
Entertainment  Holdings,  Inc.  ("Company"),  in consideration of Jesup & Lamont
Securities  Corporation  ("Jesup  &  Lamont")  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  11
hereof):

              1.     If the Company  solicits  approval of its stockholders of a
Business Combination,  the undersigned will vote all Insider Shares owned by him
in  accordance  with the  majority  of the votes cast by the  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
will take all  reasonable  actions  within  his power to 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  Fund (as  defined  in the  Letter  of  Intent)  as a result  of such
liquidation  with respect to his Insider Shares  ("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 Fund for any reason  whatsoever.  The undersigned  agrees to indemnify
and hold  harmless  the  Company  against any and all loss,  liability,  claims,
damage and expense whatsoever (including,  but not limited to, any and all legal
or other expenses reasonably  incurred in investigating,  preparing or defending
against any litigation,  whether pending or threatened, or any claim whatsoever)
which the Company may become subject as a result of any claim by any vendor that
is owed money by the Company for services  rendered or products sold but only to
the extent  necessary  to ensure  that such loss,  liability,  claim,  damage or
expense  does not reduce the amount in the Trust Fund (as  defined in the Letter
of Intent).

<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 2

              3.     In order to minimize potential  conflicts of interest which
may arise from multiple  affiliations,  the undersigned agrees to present to the
Company for its  consideration,  prior to  presentation  to any other  person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer  or  director  of the  Company,  subject to any  pre-existing  fiduciary
obligations the undersigned might have.

              4.     The  undersigned  acknowledges  and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment banking firm reasonably  acceptable to Jesup & Lamont
that the  business  combination  is fair to the  Company's  stockholders  from a
financial perspective.

              5.     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 for services  rendered to the Company prior
to the consummation of the Business Combination; provided that commencing on the
Effective Date, Transmedia  Corporation  ("Related Party"),  shall be allowed to
charge the Company an allocable  share of Related Party's  overhead,  $7,500 per
month, to compensate it for certain  administrative,  technology and secretarial
services,  as well as the use of certain  limited office space in Dallas,  Texas
that it will provide to the Company.  Related  Party and the  undersigned  shall
also be entitled  to  reimbursement  from the  Company  for their  out-of-pocket
expenses  incurred  in  connection  with  seeking  and  consummating  a Business
Combination.

              6.     Neither  the  undersigned,  any member of the family of the
undersigned,  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 family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

              7.     The  undersigned  will  escrow his  Insider  Shares for the
period   commencing  on  the  Effective  Date  and  ending  one  year  from  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.

              8.     The  undersigned  agrees to be  Executive  Vice  President,
Chief  Financial  Officer and  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 furnished to the Company and
Jesup & Lamont  and  attached  hereto as Exhibit A is true and  accurate  in all
respects,   does  not  omit  any  material   information  with  respect  to  the
undersigned's  background  and  contains all of the  information  required to be
disclosed  pursuant  to Section 401 of  Regulation  S-K,  promulgated  under the
Securities Act of 1933. The undersigned's Questionnaire furnished to the Company
and Jesup & Lamont and  annexed as

                                       2
<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 3

Exhibit  B  hereto  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 Executive Vice President,  Chief Financial  Officer and Director of the
Company.

              10.    The   undersigned   authorizes   any  employer,   financial
institution,  or consumer credit  reporting  agency to release to Jesup & Lamont
and its legal representatives or agents (including any investigative search firm
retained  by  Jesup  &  Lamont)  any   information   they  may  have  about  the
undersigned's background and finances  ("Information"),  purely for the purposes
of the Company's IPO (and shall thereafter hold such information  confidential).
Neither Jesup & Lamont nor its agents shall be violating the undersigned's right
of privacy in any manner in requesting  and obtaining  the  Information  and the
undersigned  hereby  releases them from  liability for any damage  whatsoever in
that connection.

              11.    As used herein, (i) a "Business  Combination" shall mean an
acquisition  by merger,  capital  stock  exchange,  asset or stock  acquisition,
reorganization or otherwise,  of an operating  business selected by the Company;
(ii)  "Insiders"  shall mean all officers and directors who are  stockholders of
the Company  immediately prior to the IPO; (iii) "Insider Shares" shall mean all
of the shares of Common  Stock of the Company  owned by an Insider  prior to the
IPO; and (iv) "IPO  Shares"  shall mean the shares of Common Stock issued in the
Company's IPO.

                                        /s/ Robert C. Clauser, Jr.
                                        Robert C. Clauser, Jr.

                                       3
<PAGE>

Media & Entertainment Holdings, Inc.
Jesup & Lamont Securities Corporation
August 25, 2005
Page 4

                                    EXHIBIT A

ROBERT C. CLAUSER, JR. has been the Executive Vice President and Chief Financial
Officer and a Director of our company since August 2005. Since November 1997,
Mr. Clauser has served as Lead Strategy Partner of the Media & Entertainment
Practice (Americas) of Accenture Ltd., where he advises senior executive
officers and board of directors of numerous media and entertainment companies on
setting strategy, transforming operations, and integrating technology to deliver
growth, profitability and value. From August 1993 to September 1997, Mr. Clauser
served as Manager of the Consumer Products and Retail Practice of Braxton
Associates, a strategy consulting firm and division of Deloitte & Touche
Consulting Group, where he was responsible for the development and
implementation of strategic initiatives aimed to innovate and develop new
products and new markets, and grow revenue and profitability. From 1988 to 1991,
Mr. Clauser served as Assistant Treasurer of the Oil, Gas & Extractive
Industries Division of The Bank of New York/Irving Trust Company. Mr. Clauser is
also currently a board member of the Alliance for the Arts, an arts advocacy and
research organization, the Director of Licensing and Distribution of Box of Bees
Media, a music production and distribution company, and a board member and
mentor of Icouldbe.org, and internet youth mentoring organization, and has
previously served as Chief Executive Officer and Producer of Montage
Entertainment, an independent film production company. Mr. Clauser is the
recipient of a David Rockefeller Fellowship for 2006 in recognition of his civic
contributions.

                                       4

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