Document:

EX-10.15 Letter Agreement/Nathan Gantcher

 

Exhibit 10.15

August 9, 2007

Liberty Acquisition Holdings Corp.

1114 Avenue of the Americas, 41st Floor

New York, New York 10036

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

     Re: Initial Public Offering

Ladies and Gentlemen:

     Citigroup Global Markets Inc. (“Citigroup”) is acting as sole bookrunning manager of
the initial public offering (the “IPO”) of units (the “Units”) consisting of one
share of Common Stock of Liberty Acquisition Holdings Corp. (the “Company”), and one
half (1/2) of one warrant (a “Warrant”), each whole Warrant entitling the holder thereof
to purchase one share of Common Stock of the Company and representative (the
“Representative”) of Lehman Brothers Inc. and any other
underwriters named in the final prospectus (the “Prospectus”) relating to the IPO
(Citigroup, Lehman Brothers Inc. and any other underwriters,
collectively, the “Underwriters”). The undersigned stockholder, officer and/or director of
the Company, in consideration of the Underwriters underwriting the IPO, hereby agrees as set forth
below. Certain capitalized terms used herein are defined in Section 1 hereof.

     1. 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) “Founders” shall mean all stockholders, officers and
directors who are stockholders of the Company immediately prior to the IPO; (iii) “Common
Stock” shall mean the Company’s common stock, par value $0.0001 per share, (iv) “Founders’
Shares” shall mean all of the shares of Common Stock of the Company owned by a Founder prior to
the IPO, (v) “IPO Shares” shall mean the shares of Common Stock issued in the Company’s
IPO, (vi) “Founders’ Warrants” shall mean all Warrants to purchase shares of Common Stock
of the Company owned by a Founder prior to the IPO, other than the Sponsors’ Warrants; (vii)
“Founders’ Units” shall mean the 21,562,500 Units issued by the Company to the Founders
prior to the IPO, of which the Founders’ Shares and the Founders’ Warrants are a part; (viii)
“Sponsors’ Warrants” shall mean the 12,000,000 Warrants to purchase shares of Common Stock
to be issued to the Sponsors in a private placement immediately prior to the IPO; (ix)
“Co-Investment Units” shall mean the 5,000,000 Units of the Company to be issued to the
Sponsors in a private placement that will occur immediately prior to the consummation of a
Business Combination by the Company; (x) “Co-Investment Shares” shall mean the Common Stock
underlying the Co-Investment Units; (xi) “Co-Investment Warrants” shall mean the Warrants
to purchase shares of Common Stock underlying the Co-Investment Units; and (xii) “Locked-Up
Securities” shall mean all issued and outstanding Founders’ Units, Founders’ Shares and
Founders’ Warrants (including the shares of Common Stock to be issued upon exercise of the
Founders’ Warrants) and all Sponsors’ Warrants (including the shares of Common Stock to be

 

 

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Citigroup Global Markets Inc.

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issued upon exercise of the Sponsors’ Warrants), Co-Investment Units, Co-Investment Shares and
Co-Investment Warrants (including the shares of Common Stock to be issued upon exercise of the
Co-Investment Warrants) to be issued after the date hereof in accordance with the terms and
conditions set forth in the Prospectus.

     2. If the Company solicits approval of its stockholders of a Business Combination, the
undersigned will vote (i) all Founders’ Shares owned by him or it in accordance with the majority
of the votes cast by the holders of the IPO Shares and (ii) all other shares of the Company’s
Common Stock that may be acquired by him or it in any private placement, the IPO or in the
aftermarket for such Business Combination.

     3. In the event that the Company fails to consummate a Business Combination by the later of
(i) 30 months after the consummation of the IPO (the “Consummation Date”) or (ii) 36 months
after the Consummation Date in the event that either a letter of intent, an agreement in principle
or a definitive agreement to consummate a Business Combination was executed but no Business
Combination was consummated within such 30 month period (such later date being referred to herein
as the “Termination Date”), the undersigned shall, to the fullest extent permitted by the
Delaware General Corporation Law (the “DGCL”), (i) take all action necessary to dissolve
the Corporation and liquidate the trust account established under the Investment Management Trust
Agreement to be entered into between the Company and Continental Stock Transfer & Trust Company
(the “Trust Account”) to holders of IPO Shares as promptly as practicable after approval by
the Company’s stockholders (subject to the requirements of the DGCL) and (ii) vote all Founders’
Shares and all of the shares of the Company’s Common Stock that may be acquired by him or it in any
private placement, the IPO or in the aftermarket in favor of any dissolution and plan of
distribution recommended by the Company’s Board of Directors, and promptly cause the Company to
prepare and file a proxy statement with the Securities and Exchange Commission setting out the plan
of dissolution and distribution. If no proxy statement seeking the approval of the stockholders
for a Business Combination has been filed within 60 days prior to the Termination Date, and the
Board of Directors convenes, adopts and recommends to the stockholders the liquidation and
dissolution of the Company, and the Company files a proxy statement with the Securities and
Exchange Commission seeking stockholder approval for such plan, the undersigned agrees to vote all
Founders’ Shares and all of the shares that may be acquired by him or it in any private placement,
the IPO or in the aftermarket in favor of any such dissolution and plan of distribution recommended
by the Company’s Board of Directors. The undersigned hereby waives any and all right, title,
interest or claim of any kind (“Claim”) to participate in any liquidating distribution of
the Trust Account as part of the Company’s plan of distribution with respect to the Founders’
Shares if the Company fails to consummate a Business Combination and the Trust Account is
consequently liquidated 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.

 

 

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     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 Founders, directors and/or
officers of the Company or with any Company that the undersigned has had any discussions, formal or
otherwise, with respect to a Business Combination with another company, prior to the consummation
of the IPO.

     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, however,
that commencing upon the Consummation Date, Berggruen Holdings, Inc. shall be allowed to charge the
Company an allocable share of its overhead, $10,000 per month, to compensate it for office space,
administrative services and secretarial support until the earlier of the Company’s consummation of
a Business Combination or its liquidation. Berggruen Freedom
Holdings, Ltd. (“Berggruen
Holdings”), Marlin Equities II, LLC, the undersigned and the officers and directors of the
Company 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. In addition, the undersigned will not take
retaining his positions with the Company into consideration in determining which acquisition to
pursue.

     7. In order to induce you and the other Underwriters to enter into the proposed Underwriting
Agreement in connection with the IPO, the undersigned will not, without the prior written consent
of Citigroup, offer, sell, contract to sell, pledge 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, (the “Exchange Act”) and the rules and regulations of the Securities
and Exchange Commission promulgated thereunder with respect to, any shares of capital stock
(including the Locked-Up Securities) of the Company or any securities convertible into, or
exercisable or exchangeable for such capital stock, or publicly announce an intention to effect any
such transaction during the Restricted Period (as defined below); provided, however, that the
foregoing sentence shall not apply to (A) shares of Common Stock disposed of as bona fide gifts
approved in writing by Citigroup, (B) any transfer for estate planning purposes of shares of Common
Stock to persons immediately related to such transferor by blood, marriage or adoption, (C) any
trust solely for the benefit of such transferor and/or the persons described in the preceding
clause, or (D) the transfer by Berggruen Holdings or Marlin Equities II, LLC to the

 

 

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Company’s officers, directors and employees and other persons or entities associated with
Nicolas Berggruen or Martin E. Franklin; provided, however, that with respect to each of the
transfers described in clauses (A), (B), (C) and (D) of this sentence, (i) prior to such transfer,
the transferee of such transfer, or the trustee or legal guardian on behalf of any transferee,
agrees in writing to be bound by the terms of this letter and (ii) no filing by any party under the
Exchange Act shall be required or shall be voluntarily made in connection with such disposition or
transfer. The term “Restricted Period” means the period commencing on the date hereof and
ending one year from the consummation of a Business Combination, except that if (a) during the last
17 days of the Restricted Period the Company issues an earnings release or material news or a
material event relating to the Company occurs or (b) prior to the expiration of the Restricted
Period the Company announces that it will release earnings results during the 16 day period
beginning on the last day of the Restricted Period, then the Restricted Period shall end on and
include the 18th day following the date of the issuance of the earnings release or the
occurrence of the material news or material event.

     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 dissolution and liquidation of the
Company. The undersigned’s biographical information furnished to the Company and the Representative
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, as amended. 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 Agreement and to serve as a Director of the Company.

     10. The undersigned authorizes any employer, financial institution, or consumer credit
reporting agency to release to the Representative and its legal representatives or agents
(including any investigative search firm retained by the Representative) 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
the Representative 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.

 

 

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Citigroup Global Markets Inc.

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     11. The undersigned hereby waives his or its right to exercise redemption rights with respect
to any Founders’ Shares owned by the undersigned, directly or indirectly, and agrees that he will
not seek redemption for cash with respect to such Founders’ Shares in connection with any vote to
approve a Business Combination (as is more fully defined in the Prospectus).

     12. In order to induce you and the other Underwriters to enter into the proposed Underwriting
Agreement in connection with the IPO, the undersigned hereby agrees to execute an escrow agreement
among the Founders, the Company and Continental Stock Transfer &Trust Company simultaneously with
the execution of the proposed Underwriting Agreement, whereby a portion of the undersigned’s
Founder’s Units will be held in escrow until the earlier of the time that the Underwriters’
over-allotment option is exercised or expires. The undersigned understands that (i) if the
Underwriters exercise their over-allotment option in full, all of the undersigned’s escrowed
Founders’ Units will be released to the undersigned upon the closing of the Underwriters’
over-allotment option exercise and (ii) if the Underwriters exercise their over-allotment option in
part, a pro rata amount of the undersigned’s escrowed Founders’ Units will be released to the
undersigned upon the closing of the Underwriters’ over-allotment option exercise such that the
aggregate number of Founders’ Units held by the Founders will be equal to 20% of the total number
of Units outstanding after the Initial Public Offering, and the remainder of the undersigned’s
Founders’ Units will be forfeited by and returned to the Company.

     13. The undersigned hereby agrees that any action, proceeding or claim against the undersigned
arising out of or relating in any way to this Agreement shall be brought and enforced in the courts
of the State of New York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The
undersigned hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenience forum.

[Signature Page to Follow]

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	                                   /s/ Nathan Gantcher
 	 
	 	 	Name:  	Nathan Gantcher 	 
	 	 	 	 
	 

 

 

EXHIBIT A

     Nathan Gantcher has been a member of our board of directors since August 2007. Mr. Gantcher
has also served as a Managing Member of EXOP Capital LLC since 2004. From 2002 to 2004, he served
as Co-Chairman and CEO of Alpha Investment Management LLC until it was sold to Safra National Bank.
From 1997 to 2002, Mr. Gantcher served as the Vice Chairman of CIBC World Markets Corporation, the
U.S. Section broker/dealer of Canadian Imperial Bank of Commerce (CIBC). CIBC acquired Oppenheimer
& Company in November 1997. Mr. Gantcher had been with Oppenheimer since 1968 and served as its
President and Co-Chief Executive Officer from 1983 until the firm was acquired in 1997. In 2003,
Mr. Gantcher retired from the Board of Trustees of Tufts University where he had been a member
since 1983 and Chairman for the prior eight years. He is also a member of the Board of Overseers
at Columbia Business School. He is a member of the Council on Foreign Relations, a director of
Mack-Cali Realty Corporation, Centerline Capital Group, NDS and Liquidnet. Mr. Gantcher is a
member of the steering committee of the Wall Street division of the U.J.A., a past Director of the
Jewish Communal Fund, and a Trustee of the Anti-Defamation League Foundation. Mr. Gantcher
received his M.B.A. from Columbia University and his B.A. in
economics and biology from Tufts University.EX-10.16 Letter Agreement/Paul B. Guenther

 

Exhibit 10.16

August 9, 2007

Liberty Acquisition Holdings Corp.

1114 Avenue of the Americas, 41st Floor

New York, New York 10036

Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

     Re:     Initial Public Offering

Ladies and Gentlemen:

     Citigroup Global Markets Inc. (“Citigroup”) is acting as sole bookrunning manager of
the initial public offering (the “IPO”) of units (the “Units”) consisting of one
share of Common Stock of Liberty Acquisition Holdings Corp. (the “Company”), and one
half (1/2) of one warrant (a “Warrant”), each whole Warrant entitling the holder thereof
to purchase one share of Common Stock of the Company and representative (the
“Representative”) of Lehman Brothers Inc. and any other
underwriters named in the final prospectus (the “Prospectus”) relating to the IPO
(Citigroup, Lehman Brothers Inc. and any other underwriters,
collectively, the “Underwriters”). The undersigned stockholder, officer and/or director of
the Company, in consideration of the Underwriters underwriting the IPO, hereby agrees as set forth
below. Certain capitalized terms used herein are defined in Section 1 hereof.

     1. 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) “Founders” shall mean all stockholders, officers and
directors who are stockholders of the Company immediately prior to the IPO; (iii) “Common
Stock” shall mean the Company’s common stock, par value $0.0001 per share, (iv) “Founders’
Shares” shall mean all of the shares of Common Stock of the Company owned by a Founder prior to
the IPO, (v) “IPO Shares” shall mean the shares of Common Stock issued in the Company’s
IPO, (vi) “Founders’ Warrants” shall mean all Warrants to purchase shares of Common Stock
of the Company owned by a Founder prior to the IPO, other than the Sponsors’ Warrants; (vii)
“Founders’ Units” shall mean the 21,562,500 Units issued by the Company to the Founders
prior to the IPO, of which the Founders’ Shares and the Founders’ Warrants are a part; (viii)
“Sponsors’ Warrants” shall mean the 12,000,000 Warrants to purchase shares of Common Stock
to be issued to the Sponsors in a private placement immediately prior to the IPO; (ix)
“Co-Investment Units” shall mean the 5,000,000 Units of the Company to be issued to the
Sponsors in a private placement that will occur immediately prior to the consummation of a
Business Combination by the Company; (x) “Co-Investment Shares” shall mean the Common Stock
underlying the Co-Investment Units; (xi) “Co-Investment Warrants” shall mean the Warrants
to purchase shares of Common Stock underlying the Co-Investment Units; and (xii) “Locked-Up
Securities” shall mean all issued and outstanding Founders’ Units, Founders’ Shares and
Founders’ Warrants (including the shares of Common Stock to be issued upon exercise of the
Founders’ Warrants) and all Sponsors’ Warrants (including the shares of Common Stock to be

 

 

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Citigroup Global Markets Inc.

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issued upon exercise of the Sponsors’ Warrants), Co-Investment Units, Co-Investment Shares and
Co-Investment Warrants (including the shares of Common Stock to be issued upon exercise of the
Co-Investment Warrants) to be issued after the date hereof in accordance with the terms and
conditions set forth in the Prospectus.

     2. If the Company solicits approval of its stockholders of a Business Combination, the
undersigned will vote (i) all Founders’ Shares owned by him or it in accordance with the majority
of the votes cast by the holders of the IPO Shares and (ii) all other shares of the Company’s
Common Stock that may be acquired by him or it in any private placement, the IPO or in the
aftermarket for such Business Combination.

     3. In the event that the Company fails to consummate a Business Combination by the later of
(i) 30 months after the consummation of the IPO (the “Consummation Date”) or (ii) 36 months
after the Consummation Date in the event that either a letter of intent, an agreement in principle
or a definitive agreement to consummate a Business Combination was executed but no Business
Combination was consummated within such 30 month period (such later date being referred to herein
as the “Termination Date”), the undersigned shall, to the fullest extent permitted by the
Delaware General Corporation Law (the “DGCL”), (i) take all action necessary to dissolve
the Corporation and liquidate the trust account established under the Investment Management Trust
Agreement to be entered into between the Company and Continental Stock Transfer & Trust Company
(the “Trust Account”) to holders of IPO Shares as promptly as practicable after approval by
the Company’s stockholders (subject to the requirements of the DGCL) and (ii) vote all Founders’
Shares and all of the shares of the Company’s Common Stock that may be acquired by him or it in any
private placement, the IPO or in the aftermarket in favor of any dissolution and plan of
distribution recommended by the Company’s Board of Directors, and promptly cause the Company to
prepare and file a proxy statement with the Securities and Exchange Commission setting out the plan
of dissolution and distribution. If no proxy statement seeking the approval of the stockholders
for a Business Combination has been filed within 60 days prior to the Termination Date, and the
Board of Directors convenes, adopts and recommends to the stockholders the liquidation and
dissolution of the Company, and the Company files a proxy statement with the Securities and
Exchange Commission seeking stockholder approval for such plan, the undersigned agrees to vote all
Founders’ Shares and all of the shares that may be acquired by him or it in any private placement,
the IPO or in the aftermarket in favor of any such dissolution and plan of distribution recommended
by the Company’s Board of Directors. The undersigned hereby waives any and all right, title,
interest or claim of any kind (“Claim”) to participate in any liquidating distribution of
the Trust Account as part of the Company’s plan of distribution with respect to the Founders’
Shares if the Company fails to consummate a Business Combination and the Trust Account is
consequently liquidated 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.

 

 

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Citigroup Global Markets Inc.

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     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 Founders, directors and/or
officers of the Company or with any Company that the undersigned has had any discussions, formal or
otherwise, with respect to a Business Combination with another company, prior to the consummation
of the IPO.

     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, however,
that commencing upon the Consummation Date, Berggruen Holdings, Inc. shall be allowed to charge the
Company an allocable share of its overhead, $10,000 per month, to compensate it for office space,
administrative services and secretarial support until the earlier of the Company’s consummation of
a Business Combination or its liquidation. Berggruen Freedom
Holdings, Ltd. (“Berggruen
Holdings”), Marlin Equities II, LLC, the undersigned and the officers and directors of the
Company 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. In addition, the undersigned will not take
retaining his positions with the Company into consideration in determining which acquisition to
pursue.

     7. In order to induce you and the other Underwriters to enter into the proposed Underwriting
Agreement in connection with the IPO, the undersigned will not, without the prior written consent
of Citigroup, offer, sell, contract to sell, pledge 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, (the “Exchange Act”) and the rules and regulations of the Securities
and Exchange Commission promulgated thereunder with respect to, any shares of capital stock
(including the Locked-Up Securities) of the Company or any securities convertible into, or
exercisable or exchangeable for such capital stock, or publicly announce an intention to effect any
such transaction during the Restricted Period (as defined below); provided, however, that the
foregoing sentence shall not apply to (A) shares of Common Stock disposed of as bona fide gifts
approved in writing by Citigroup, (B) any transfer for estate planning purposes of shares of Common
Stock to persons immediately related to such transferor by blood, marriage or adoption, (C) any
trust solely for the benefit of such transferor and/or the persons described in the preceding
clause, or (D) the transfer by Berggruen Holdings or Marlin Equities II, LLC to the

 

 

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Citigroup Global Markets Inc.

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Company’s officers, directors and employees and other persons or entities associated with
Nicolas Berggruen or Martin E. Franklin; provided, however, that with respect to each of the
transfers described in clauses (A), (B), (C) and (D) of this sentence, (i) prior to such transfer,
the transferee of such transfer, or the trustee or legal guardian on behalf of any transferee,
agrees in writing to be bound by the terms of this letter and (ii) no filing by any party under the
Exchange Act shall be required or shall be voluntarily made in connection with such disposition or
transfer. The term “Restricted Period” means the period commencing on the date hereof and
ending one year from the consummation of a Business Combination, except that if (a) during the last
17 days of the Restricted Period the Company issues an earnings release or material news or a
material event relating to the Company occurs or (b) prior to the expiration of the Restricted
Period the Company announces that it will release earnings results during the 16 day period
beginning on the last day of the Restricted Period, then the Restricted Period shall end on and
include the 18th day following the date of the issuance of the earnings release or the
occurrence of the material news or material event.

     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 dissolution and liquidation of the
Company. The undersigned’s biographical information furnished to the Company and the Representative
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, as amended. 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 Agreement and to serve as a Director of the Company.

     10. The undersigned authorizes any employer, financial institution, or consumer credit
reporting agency to release to the Representative and its legal representatives or agents
(including any investigative search firm retained by the Representative) 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
the Representative 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.

 

 

Liberty Acquisition Holdings Corp.

Citigroup Global Markets Inc.

Page 5

     11. The undersigned hereby waives his or its right to exercise redemption rights with respect
to any Founders’ Shares owned by the undersigned, directly or indirectly, and agrees that he will
not seek redemption for cash with respect to such Founders’ Shares in connection with any vote to
approve a Business Combination (as is more fully defined in the Prospectus).

     12. In order to induce you and the other Underwriters to enter into the proposed Underwriting
Agreement in connection with the IPO, the undersigned hereby agrees to execute an escrow agreement
among the Founders, the Company and Continental Stock Transfer &Trust Company simultaneously with
the execution of the proposed Underwriting Agreement, whereby a portion of the undersigned’s
Founder’s Units will be held in escrow until the earlier of the time that the Underwriters’
over-allotment option is exercised or expires. The undersigned understands that (i) if the
Underwriters exercise their over-allotment option in full, all of the undersigned’s escrowed
Founders’ Units will be released to the undersigned upon the closing of the Underwriters’
over-allotment option exercise and (ii) if the Underwriters exercise their over-allotment option in
part, a pro rata amount of the undersigned’s escrowed Founders’ Units will be released to the
undersigned upon the closing of the Underwriters’ over-allotment option exercise such that the
aggregate number of Founders’ Units held by the Founders will be equal to 20% of the total number
of Units outstanding after the Initial Public Offering, and the remainder of the undersigned’s
Founders’ Units will be forfeited by and returned to the Company.

     13. The undersigned hereby agrees that any action, proceeding or claim against the undersigned
arising out of or relating in any way to this Agreement shall be brought and enforced in the courts
of the State of New York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The
undersigned hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenience forum.

[Signature Page to Follow]

 

 

	 	 	 	 	 
	 	 	 
	 	By:  	                                                     /s/ Paul B. Guenther
 	 
	 	 	Name:  	Paul B. Guenther 	 
	 	 	 	 
	 

 

 

EXHIBIT A

     Paul
B. Guenther has been a member of our board of directors since
August 2007. Mr. Guenther has
also served as President of PaineWebber Group, Inc. from January 1994 to April 1995. Mr. Guenther
served as President of PaineWebber Incorporated from December 1988 until January 1994. Mr.
Guenther has served as Chairman of the New York Philharmonic since September 1996. Mr. Guenther
also currently chairs the Audit Committee of the Board of Directors of The Guardian Life Insurance
Company and is a member of the Board of Directors of RS Investments. Mr. Guenther serves on
several philanthropic boards and is a member of several charitable organizations. Mr. Guenther
received his M.B.A. from Columbia Graduate School of Business and his
B.S. in
economics from Fordham University.

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